All Reports

We assume our full F2026E (Mar) sales, operating margin, and EPS for Flex (FLEX; $30.53; O/P) of $26.4B (+2% YoY on an organic basis), 5.8% (vs. 5.6% in F2025E) and $2.85 (+9% YoY) remains a reasonable…

We think our and Street estimates on Celestica (CLS; $80.59; O/P) can continue to prove achievable after its Q1 results and outlook post on Thursday (4/24 after market). We think our view was supported last…

Last week, we spent two days in Washington D.C.at Data Center World, which is considered to be the largest data center trade show of the year, where we sat in on industry talks, walked the…

We are reducing our profit forecasts on Mobileye Global (MBLY; $11.90; E/W) ahead of the company’s Q1 results and outlook, which are scheduled for Thursday (4/24 before market). More to the point, we are concerned…

We think Western Digital (WDC; $35.62; O/P) has another chance to “strike a new chord” with investors through its upcoming FQ3 (Mar) results and guidance, scheduled for April 30th (before market), after successfully completing the…

This morning, Lyft (LYFT; $10.80; O/P) announced it signed a definitive agreement to acquire FREENOW, a European-based mobility platform that is best known for its taxi offering. The business is being acquired from BMW Group…

Our recent checks suggest Seagate (STX; $72.00; O/P) highlights that near term demand for its “core” mass capacity hard disk drives (HDDs) is holding up well into the June quarter (80-85% of sales), when it…

Based on some further field checks, we now think we may have been underestimating risks to our current EBITDA estimates for CommScope (COMM; $3.64; E/W) from a range of new U.S. tariffs now beginning to…

We assume Plexus’ (PLXS; $121.28; E/W) relative mix of served market exposure and global footprint proves new tariffs to be less of an issue for the company relative to others we follow in the supply…

We assume that CommScope (COMM; $3.44; E/W) proves relatively less impacted, when it reports Q1 results and outlook on May 1st (before market), by a range of new U.S. tariffs beginning to impact global supply…

Over the weekend, the U.S. provided some clarifications on its plan to impose tariffs on technology products, which we think can better support at least some sort of a “relief rally” across our supply chain…

The shares of Belden (BDC; $93.48; E/W) are down 17% YTD, including -11% since the U.S. announced a first version of new import tariffs on April 2nd, ahead of the company’s Q1 results and outlook,…

We reduce our 2025/2026E EPS from $3.10/3.40 to $2.90/$3.15 for Sensata (ST; $19.44; E/W) to take a “first stab” at our concerns that global vehicle production weakens as the year progresses in the face of…

We are maintaining our 2025E EPS at $2.25, including $0.50 in Q1E, for Corning (GLW; $41.69; O/P) ahead of the company’s Q1 print and outlook, which is scheduled for April 29th (before market). This is…

We reduce our F2025/F2026E (Sept) EPS from $8.10/$8.90 to $7.95/$8.40 for TE Connectivity (TEL; $127.35; O/P), ahead of its FQ2 (Mar) results and guidance, scheduled for April 23rd (before market). Our “first stab” to consider…