All Reports

We reiterate our Outperform while raising our F2026E (Jun) EPS from $9.25 to $9.80, and our target from $130 to $140 on the shares of Seagate (STX; $108.86) after attending its Analyst and Investor Event…

We assume the shares of Dell Technologies (DELL; $111.95; O/P) still offer a favorable risk/reward into its FQ1 (Apr) results next Thursday (5/29 after market), even after its 49% rally since April 7th, since we…

We remain comfortable with our estimates for NetApp (NTAP; $101.50; E/W) ahead of its FQ4 (Apr) results and outlook, scheduled for Thursday, May 29th (after market). We think recent enterprise storage spending trends have been…

Yesterday (5/20), we listened in on a second day of keynotes out of Dell Technologies World led by Dell’s (DELL; $114.23; O/P) Chief Operating Officer Jeff Clarke, plus Arthur Lewis, President, Infrastructure Solutions Group, and…

Earlier this week, Western Digital (WDC; $51.47; O/P) announced, as part of its attendance at the COMPUTEX trade show in Taiwan, a new set of product innovations aimed at “retooling” its Platforms business. Recall, WDC…

This morning, Sanmina (SANM; $81.37; O/P) announced it signed a definitive agreement to acquire ZT Systems’ data center infrastructure manufacturing business from Advanced Micro Devices (AMD; $114.74; NR) for up to $3B of total considerations…

Earlier today, we listened in on the Dell Technologies World keynote from Dell’s (DELL; $114.28; O/P) CEO Michael Dell in Las Vegas where the company highlighted a range of new and existing product innovations, discussed…

Last night, Sensata (ST; $27.32; E/W) disclosed in an 8-K filing that CFO Brian Roberts, who has served in his current role only since October of 2023, resigned from the company to “pursue other opportunities”….

Yesterday (5/14), Uber Technologies (UBER; $89.79; E/W) announced a strategic partnership with iFood, an on-demand delivery platform in Brazil, which is aimed at providing an easier on-demand rideshare and delivery experience for consumers in the…

Last night, Plexus (PLXS; $132.09; E/W) announced that its Board authorized a $100mm increase to its share repurchase program. By comparison, PLXS’ market cap is $3.7B and the company disclosed that it had $18mm remaining…

We reduce our rating on the shares of Nextracker (NXT; $55.04) from Outperform to Equal-Weight with the stock now up ~50% YTD, albeit mostly in the past month or so, and since F2026E (Mar) guidance…

Nextracker (NXT; $55.04; O/P) reported FQ4 (Mar) adjusted EPS of $1.29, which was well ahead of our $1.02 and the Street’s $0.97 on sales of $924mm (+26% YoY) that were also much higher than our…

Earlier today, management from Uber Technologies (UBER; $90.11; E/W) presented at its annual Go-Get Product Event, which focused on initiatives aimed at how the company can provide better affordability to customers through new product innovation…

Yesterday, Corning (GLW; $47.62; O/P) announced it is formally collaborating with Broadcom (AVGO; $232.42; NR) on a co-packaged optics (CPO) infrastructure aimed at increasing networking and processing bandwidth, density, and power efficiency, by reducing distances…

This morning, Flex (FLEX; $41.83; O/P) announced that its Anord Mardix business, which is focused on a range of power solutions for cloud and traditional data centers, as well as some other industrial applications, has…