Industry Notes
March 14, 2023
Last night, the California Court of Appeal overturned a lower court’s ruling that found Proposition 22 to be unconstitutional. Prop 22, which defines app-based drivers and couriers as independent contractors with certain work-hour based benefits,…
March 9, 2023
Earlier this week (3/7), we attended Visteon’s (VC; $170.57; NR) highly informative Investor Day in New York, which highlighted attractive content trends around digital cockpit electronics, in-vehicle displays and electrification, which should remain key mobility…
March 6, 2023
We think recent news flow further highlights how Uber Technologies (UBER; $34.57; O/P), as well as DoorDash (DASH; $57.34; E/W), continue to build out commercial partnerships within increasingly important non-restaurant categories to drive revenues, including…
March 3, 2023
We think Tesla’s (TSLA; $199.25; NR) Investor Day on Wednesday (3/1) provided further support for the idea that electronics manufacturing service (EMS) providers, especially Flex (FLEX; $23.03; O/P) and Jabil (JBL; $85.47; O/P), as well…
February 21, 2023
This morning, the European Automotive Manufacturers Association released car registration data from the region for the month of January, which did not do much to dissuade concerns that European vehicle demand is under incremental pressure…
February 17, 2023
We think news out of bp (BP; $40.95; NR) yesterday (2/16) proves extremely bullish for manufacturers of DC fast chargers, especially those with production operations located in the U.S. such as ChargePoint (CHPT; $12.63; O/P)…
February 15, 2023
This morning, the Biden Administration announced a series of actions aimed at supporting the massive buildout of an electric vehicle (EV) charging network across the U.S, which is the latest in a running string of…
February 13, 2023
Our latest look at aggregate inventories up and down the supply chain, across OEMs, component makers, EMS providers, and distributors (26 companies with $81B in annual inventories ex-Apple at the end of CQ4), offered early…
February 7, 2023
We think a range of news flow over the past few weeks further suggests to us that electric vehicle (EV) charging infrastructure spending remains robust even in the face of ongoing macro uncertainty, which we…
January 18, 2023
We see Q4 EPS season for the technology supply chain proving fairly dour when it comes to management guidance, mainly around Q1E thinking. Specifically, we are concerned about the potential for exaggerated post-holiday seasonal declines…
January 18, 2023
This morning, Volta (VLTA; $0.85; NR) announced it signed a definitive agreement to be acquired by Shell (SHEL; $58.64; NR) for $169mm in cash. VLTA is a Level 2 AC and DC fast charger network…
January 17, 2023
We continue to envision a meaningful growth vector from global re-shoring for a range of electronics manufacturing service (EMS) providers. In fact, based on our most recent industry conversations, we think EMS opportunities in India…
December 15, 2022
Yesterday (12/14), the California Energy Commission (CEC) approved $2.9B of funding aimed at accelerating the rollout of electric vehicle (EV) charging and hydrogen refueling infrastructure over the next four years, which we think bodes well…
December 15, 2022
This morning, the European Automotive Manufacturers Association released car registration data from the region for the month of November, which we think suggested some recent improvements in local component availability. However, per our recent industry…
December 15, 2022
The shares of Lyft (LYFT; $11.89; O/P) and Uber Technologies (UBER; $27.47; O/P) have outperformed over the past week, including yesterday in a down market (+3% and +2%, respectively), which we find interesting into a…