UBER: Thoughts on the Carsharing Opportunity

We think the most recent “go public” news from Turo, which is the world’s largest peer-to-peer carsharing marketplace, further highlights a still underappreciated range of opportunities for Uber Technologies (UBER; $42.94; O/P) to increasingly monetize…

PSNY: Adjusting Model for Better Q2 Deliveries

We are raising our Q2E and full 2023E sales for Polestar (PSNY; $4.49; O/P) after the company disclosed last week that its Q2 vehicle deliveries were approximately 15,800 (+36% YoY), which was well ahead of…

FLEX: Completes Another Round of NXT Sales

Last night, Nextracker (NXT; $37.13; E/W), a subsidiary of Flex (FLEX; $26.66; O/P), priced its previously announced Class A common stock offering at $36.50 per share, which delivers another $518mm of proceeds to Flex, albeit…

MU: The Bottom Is In; But Not Too Excited About Upturn

We adjust F2023E/F2024E (Aug) EPS for Micron (MU; $67.07; E/W) from ($4.50)/($2.10) to ($4.55)/($3.10) after a somewhat better than expected FQ3 (May). Also, FQ4 (Aug) guidance was not too far off from consensus even with…

MU: First Look at FQ3 (May) Results and Outlook

Micron Technology (MU; $67.07; E/W) reported FQ3 (May) non-GAAP EPS loss of ($1.43), which was better than our ($1.58) and the Street’s ($1.61) on some sales upside ($3,752mm vs. our $3,600mm and consensus of $3,650mm….

DASH: Announces Major New App Features

This morning, DoorDash (DASH; $74.76; E/W) announced a large set of updates to its marketplace app, which we think furthers its scale and technical advantages against many on-line delivery network peers, as per recent share…

CHPT: More Reason to Buy

This morning, ChargePoint (CHPT; $7.51; O/P) formally announced availability of a North American Charging Standard (NACS) connector option for several of its Level 2 AC and DC fast chargers, including field updates for chargers already…

FLEX: Moves to Add Further to Cash Hoard

Last night, Nextracker (NXT; $38.05; E/W), a subsidiary of Flex (FLEX; $26.10; O/P), announced a Class A common stock offering that further monetizes Flex’s stake at a quicker pace than previously assumed due to bank…

MBLY: CFO Steps Down

Last night, Mobileye Global (MBLY; $36.00; E/W) announced that CFO Anat Heller, who joined the company in 2008 and has served as CFO since 2018, is stepping down from her role for personal reasons, effective…

LCID: First Proof Point on Tech’s Intrinsic Value

This morning, Lucid Group (LCID; $5.55; O/P) announced a long-term strategic technology supply agreement with Aston Martin Lagonda (AML.GB; £3.62; NR), which we think strongly supports the idea that there is significant intrinsic value in…

CFO Fireside Chat Highlights Unique Innovation

We hosted a “fireside chat” during our Transportation Technology Conference with privately held FreeWire Technologies’ CFO Michael Beer. FreeWire has developed an “ultra-fast” direct current fast charger (DCFC), which we think comes with a differentiated…

GLW: Fireside Chat Highlights How Auto Content Can Rise

Yesterday (6/22), we hosted a “fireside chat” during our virtual Transportation Technology Conference with Corning’s (GLW; $33.96; E/W) Mike Kunigonis, VP and General Manager of Auto Glass Solutions, and Ann Nicholson, who is VP of…

HYZN: Fireside Chat Highlights Re-Launched Business

Yesterday (6/22), we hosted the CEO of Hyzon Motors (HYZN; $0.95), Parker Meeks, at our Transportation Technology Conference. The meetings highlighted the company’s major restructuring, now in place, towards a much more focused, “asset lite”…

JBL: Fireside Chat Supports a Further Bull Case

Yesterday (6/22), we hosted a “fireside chat”, as part of our Transportation Technology Conference, with Jabil’s (JBL; $103.85; O/P) Steve Borges, EVP and CEO of Diversified Manufacturing Services (DMS; ~50% of sales); Chad Morley, SVP,…

PSNY: CTO Chat Highlights Benefits of Partnered Approach

On Tuesday (6/20), we hosted a “fireside chat” at our Transportation Technology Conference with Polestar’s (PSNY; $3.61; O/P) Chief Technology Officer Jörg Brandscheid, who was joined by Bojana Flint, Head of IR. The conversation highlighted…