All Reports

Yesterday, we attended the Optical Networking and Communications Conference (OFC) in San Diego, where we toured Corning’s (GLW; $34.44; E/W) trade show booth and sat in on CEO Wendell Weeks’ Plenary Session. Our meetings highlighted…

On Monday (3/6), we hosted an investor meeting in Tempe, AZ with Benchmark Electronics (BHE; $23.82; O/P) CEO Jeff Benck at its headquarters, after which we toured one of its newest electronics manufacturing services (EMS)…

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…

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…

Earlier this week, Hyliion (HYLN; $2.80; NR) announced a new partnership with Hyzon Motors (HYZN; $1.25) to develop a prototype of a heavy-duty hydrogen-based fuel cell electric vehicle (FCEV). We think this news further highlights…

We cut F2024E (Jan) EPS for Dell Technologies (DELL; $40.17; E/W) from $6.10 to $5.15 after the company’s FQ1E (Apr) and full F2024E outlook disappointed, as we warned was likely. Dell pointed to weakening demand…

ChargePoint (CHPT; $11.26; O/P) produced another quarter of robust sales growth in FQ4 (Jan), albeit somewhat below Street expectations, with further gross margin improvements and opex discipline that led to better than expected operating losses….

Micron (MU; $54.87; E/W) provided an incrementally bearish update when CFO Mark Murphy, along with Manish Bhatia (EVP, Global Operations) presented at an investor conference earlier this morning. Basically, the detailed commentary provided yet another…

We reviewed Lyft’s (LYFT; $9.94; E/W) 10-K, which was filed on Monday (2/27). The document further highlighted how rising insurance costs and newly required reserve adjustments pressured the company’s cost of revenue and thus adjusted…

Yesterday, Luminar Technologies (LAZR; $8.95; NR) announced it acquired Seagate’s (STX; $64.56; E/W) LiDAR (Light Detection and Ranging) program back in January. Terms of the transaction were not announced and this agreement was not previously…

We reiterate our Outperform on the shares of Uber Technologies (UBER; $33.55) after reviewing the company’s 10-K, filed last Tuesday (2/21). The 10-K further highlighted the sizeable synergies between Mobility and Delivery, which was also…

Last Thursday (2/23), DoorDash (DASH; $55.09; E/W) announced a new partnership with ALDI to offer on-demand same-day grocery delivery from 2,100+ ALDI stores across 38 U.S. states, which we think has a number of ongoing…

We think Dell Technologies’ (DELL; $42.03; E/W) “early” F2024 (Jan) sales outlook from a few months ago proves optimistic with FQ4 (Jan) results on Thursday (3/2 after market). Recall, Dell’s initial F2024E sales thinking called…

This morning, Fisker (FSR; $6.20; NR) announced that it selected ChargePoint (CHPT; $11.42; O/P) as its North American partner for electric vehicle (EV) public charging stations. Specifically, CHPT’s EV charging network can be used by…

We stick with our Outperform on CommScope shares (COMM; $8.68) after the company reiterated 2023E “core” EBITDA targets of $1.35-1.50B (ex-Home Networks) and delivered Q4 EBITDA upside while demonstrating healthy free cash flows (FCF) we…