We initiate coverage of the shares of Sandisk (SNDK; $48.16) with an Equal-Weight post its separation from Western Digital (WDC; $49.07; O/P) on Monday (2/24) to once again be a publicly traded company; although WDC…
Maplebear, d/b/a Instacart (CART; $48.78; E/W), produced Q4 results and guidance that were a bit of a “mixed bag” relative to consensus expectations. On the plus side, Q4 EBITDA of $252mm (2.9% of Gross Transaction Value…
Maplebear, doing business as Instacart, (CART; $48.78; E/W) posted Q4 adjusted EBITDA of $252mm (2.9% of GTV), which was ahead of our forecast of $239mm (2.8% of GTV) and the Street’s $240mm (2.8% of GTV)….
This morning, the European Automotive Manufacturers Association released car registration data from the region for the month of January, which was below seasonal trends. Although, we note registrations included some positive battery electric vehicle (BEV)…
We think the 27% decline in the shares of Westen Digital (WDC; $49.02; O/P) over the past 11 days has more than accounts for the long-awaited separation of Sandisk (SNDK; $48.60; NR) into a now…
Last Thursday (2/20), Airspan Networks announced it entered into a definitive agreement to acquire Corning’s (GLW; $51.49; O/P) wireless business, which consists of the company’s distributed antenna systems (DAS) and its SpiderCloud 4G and 5G…
We reiterate our Outperform and $50 target on the shares of Flex (FLEX; $40.36) after hosting investor meetings in New York last Thursday (2/20) for CEO Revathi Advaithi, CFO Kevin Krumm, as well as David…
We think NetApp (NTAP; $124.55; E/W) is well positioned to demonstrate some further share gains within the mid-range storage market, led by all flash array (AFA) demand, when it reports FQ3 (Jan) results and outlook…
We continue with our Outperform on the shares of Dell Technologies (DELL; $119.89) ahead of its FQ4 (Jan) results and outlook, scheduled for next Thursday (2/27 after market). Overall, we expect incremental support for the…
We reiterate our Outperform on the shares of Corning (GLW; $52.89) after our review of its recently filed 10-K, which highlighted to us a range of conservatism in our model. Importantly, this includes profit and…
We initiate coverage with an Outperform rating and $270 target on the shares of Fabrinet (FN; $223.04), which has proven to be the most consistent electronics manufacturing services (EMS) provider in the industry through an…
Our latest look at aggregate inventories up and down the supply chain suggested more progress towards “normalizing” inventories, led again by electronics manufacturing service (EMS) providers with some help from the distribution channel. It also…
We raise our 2025E EBITDA for DoorDash (DASH; $205.64; E/W) from $2,375mm to $2,600mm (+37% YoY vs. +60% in 2024) after the company produced basically as expected Q4 results with Q1E guidance that was ahead…
We are lowering our 2025E EPS for Sensata (ST; $28.85; E/W) after it delivered a bit of a Q4 beat, albeit with Q1E guidance that was slightly below our and consensus thinking at the mid-point….
We adjust 2025/2026E EPS for Vertiv Holdings (VRT; $109.09; E/W) from $3.50/$4.30 to $3.55/$4.25 after the company produced a healthy Q4 beat and updated its full 2025E outlook for some additional currency headwinds and other…