This morning, Advanced Micro Devices (AMD; $155.28; NR) announced plans to acquire privately held ZT Systems, which designs, assembles, integrates, and tests servers, storage, plus other data center components, as part of a primary focus…
We reiterate our Outperform and $50 target on the shares of Corning (GLW; $40.26) after hosting a virtual investor meeting with Ann Nicholson, Vice President of Investor Relations, on Wednesday (8/14). Most importantly for us,…
Recent news flow out of Maplebear, doing business as Instacart (CART; $32.01; E/W), provides further support for the idea that the company is enabling a wider range of avenues for deepening relationships with existing retail…
Our latest look at aggregate inventories up and down the supply chain post CQ2 results season suggested further right sizing of inventories that we assume likely continues at least through the end of this year….
Hyzon Motors (HYZN; $0.08) reported Q2 results, which generally lived up to our expectations on a continuing operations basis. Most importantly, Hyzon’s average monthly free cash flow (FCF) burn rate in Q2 was ($9.2mm) or…
Last week, we spent time at The Future of Memory and Storage Summit (FMS) in San Jose, CA, which further highlighted to us how a range of “productization” trends across NAND, DRAM, and hard disk…
We reiterate our Outperform on the shares of Sanmina (SANM; $69.48) after hosting an investor meeting in San Jose, CA with CEO Jure Sola and CFO Jon Faust, where we also had the opportunity to…
After the close on Friday (8/9), Flex (FLEX; $29.29; O/P) filed an 8-K in which it disclosed that it had received shareholder approval to purchase up to another 20% of the company’s shares outstanding, in…
CommScope’s (COMM; $2.79; NR) Q2 results and outlook “filled in a number of the blanks” to the company’s recent positive pre-announcement (“Pre-Announces Big Q2 Upside”; 7/29). To that end, COMM total company sales and non-GAAP…
The shares of Lyft (LYFT; $9.08; O/P) plunged 17% yesterday as Q3E guidance proved a disappointment to the Street after some better-than-expected Q2 results. We think the guidance proved especially tough for the stock to…
Lyft (LYFT; $10.97; O/P) posted Q2 EBITDA of $103mm (2.6% of gross bookings) that beat our consensus-matching $98mm (2.4% of gross bookings). At the same time, gross bookings of $4.02B were slightly below our $4.05B…
We raise our 2024/2025E EBITDA for Maplebear, doing business as Instacart (CART; $31.43; E/W) from $825mm/$915mm to $855mm/$960mm after it produced a solid “beat and meet” while warning that a recent YTD acceleration in top…
We reiterate our Outperform on the shares of Uber Technologies (UBER; $64.87) and raise 2024/2025E EBITDA from $6.25B/$8.0B to $6.38B/$8.03B after the company delivered a clean “beat and raise” that demonstrated a still robust growth…
Maplebear, doing business as Instacart, (CART; $31.43; E/W) posted Q2 adjusted EBITDA of $208mm (2.5% of GTV), which beat our forecast of $185mm (2.3% of GTV) and the Street’s $187mm (2.3% of GTV). Sales of…
Uber Technologies (UBER; $58.48; O/P) posted Q2 adjusted EBITDA of $1,570mm (3.9% of gross bookings), which beat our forecast of $1,475mm (3.7% of gross bookings) and the Street’s $1,515mm (3.8% of gross bookings). Revenues of…