Company Notes

We are raising our rating on the shares of Aptiv (APTV; $86.83) from Equal Weight to Outperform and establishing a target of $110. Our bottom line is that evidence of the past few months, leads…

We think last Monday’s (1/5) keynote from Advanced Micro Devices’ (AMD; $203.17; NR) CEO Lisa Su at the Consumer Electronics Show (CES) in Las Vegas should add confidence for investors assessing the mid-term EPS potential…

Last week was clearly an eventful week for Mobileye Global (MBLY; $11.55; E/W) at the Consumer Electronics Show (CES) as the company announced plans to cover the entirety of an emerging Physical AI landscape with…

Last week, we hosted an investor meeting with Dell Technologies (DELL; $120.62; E/W) in Las Vegas during the Consumer Electronics Show (CES) where we met with Christopher Jones from the IR team. Our conversation of…

We are raising our target on the shares of Micron (MU; $345.09; O/P) from $350 to $415 after meeting with Samir Patodia, Senior Director, IR, last Thursday in Las Vegas during the Consumer Electronics Show…

We reiterate our Outperform on the shares of Amphenol (APH; $139.17) and raise our target from $150 to $165 after our meeting earlier this week during the Consumer Electronics Show (CES) in Las Vegas with…

We reiterate our Outperform on the shares of Jabil (JBL; $226.99) after hosting an investor meeting for the company in Las Vegas during the Consumer Electronics Show (CES) where we met with CEO Mike Dastoor,…

Earlier today, Lyft’s (LYFT; $19.30; O/P) CEO David Risher reiterated in a LinkedIn post that the company continues to fully target 2027E gross bookings (GB) and adjusted EBITDA targets of ~$25B and ~$1B (4% of…

On Monday (1/5), at the Consumer Electronics Show (CES) in Las Vegas, Uber Technologies (UBER; $86.90; E/W) introduced, with its partners Lucid Group (LCID; $11.30; NR) and Nuro, the production intent autonomous vehicle (AV) that…

Yesterday (1/6), in what we assume was a surprising move to the Street, Mobileye Global (MBLY; $12.18; E/W) announced a definitive agreement to acquire Mentee Robotics, which is a humanoid robotics technology provider. Broadly speaking,…

We reiterate our Outperform and raise our target from $280 to $350 on the shares of Sandisk (SNDK; $308.44) after hosting an investor meeting yesterday with the company’s VP of IR, Ivan Donaldson, in Las…

This morning, Maplebear d/b/a Instacart (CART; $44.86; E/W) announced in a blog post that it is ceasing all item price tests on its platform. As a result, CART’s retail partners will no longer be able…

This afternoon, the U.S. Federal Trade Commission (FTC) announced that Maplebear d/b/a Instacart (CART; $44.95; E/W) has agreed to pay $60mm in refunds to consumers to settle allegations that the company deceived its customers with…

We have recently seen more examples of regulatory headlines that bear watching around Uber Technologies (UBER; $79.83; E/W), while keeping in mind that such news does seem to more generally “come and go” in terms…

This morning, Aptiv (APTV; $77.33; E/W) announced a partnership with Vecna Robotics, a logistics automation company, to co-develop next-generation autonomous mobile robots for use in warehouses and factories, as illustrated below. We think this announcement…