All Reports


December 17, 2024

Following the Money to More HDD Demand

By Steven Fox

We think recent reports that privately held Verkada, a supplier of security hardware, such as video cameras, access controls, environmental sensors, alarms and intercoms, is set to raise $200mm in funding at a $4.5B valuation,…

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December 17, 2024

CART: Adds To Business Offering

By Steven Fox

Yesterday (12/16), Maplebear, d/b/a Instacart (CART; $42.18; E/W), announced it is now offering several new supplier and merchant solutions to Instacart Business users on its platform. Recall, CART’s higher margin Instacart Business offering allows customers…

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December 16, 2024

LYFT: Another Buying Opportunity on Autonomous Overreach

By Steven Fox

The shares of Lyft (LYFT; $14.09; O/P) are down 23% since 11/12, including a more recent -13% since 12/10, which came on the heels of a report out of data analysis provider Yipit on Alphabet’s…

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December 13, 2024

WDC: Calls Out Some More NAND Pricing Pressure

By Steven Fox

Yesterday, the shares of Western Digital (WDC; $65.99; O/P) declined 6% on the heels of CEO Dave Goeckeler and CFO Wissam Jabre presenting at an investor conference where the company called out that it is…

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December 12, 2024

MU: Still Looks Oversold into FQ1 (Nov) Print

By Steven Fox

We continue to see the shares of Micron (MU; $99.43; O/P) as undervalued into its FQ1 (Nov) results and outlook, scheduled for next Wednesday (12/18 after market). We note the stock is +4% since an…

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December 11, 2024

JBL: See FQ1 Providing Solid Set Up for Future Growth

By Steven Fox

We think Jabil’s (JBL; $132.75; O/P) FQ1 (Nov) results and outlook, scheduled for next Wednesday (12/18 before market), should comfortably support the company’s full F2025E sales, operating margin and EPS outlook of $27.0B (+2% YoY…

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December 11, 2024

MBLY: Meeting Makes an Excellent Autonomous Case

By Steven Fox

On Tuesday (12/10), we attended Mobileye Global’s (MBLY; $16.98; E/W) Innovation Day in Munich, Germany, where we heard detailed presentations from CEO Amnon Shashua, CFO Moran Shemesh Rojansky, CTO Shai Shalev-Shwartz and EVP, Strategy &…

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December 6, 2024

UBER: Announces Its Own Autonomous Progress

By Steven Fox

This morning (12/6), Uber Technologies (UBER; $65.23; O/P) announced it launched a ride-hailing partnership in Abu Dhabi, UAE with WeRide (WRD; $15.95; NR), an autonomous driving technology company. Interestingly, this announcement comes right on the heels of news yesterday that Alphabet’s (GOOG; $174.31; NR) Waymo One was expanding its autonomous rideshare app into Miami, which added to recent pressure on Uber’s share price (-10% yesterday and -25% since 10/11 vs. +12% YTD). However, keep in mind that …

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December 6, 2024

Autonomous Overhang on Rideshare Stocks Becomes Palpable

By Steven Fox

On Thursday (12/5), the shares of Lyft (LYFT; $15.50; O/P) and Uber Technologies (UBER; $65.23; O/P) both traded down by ~10% after Waymo, a subsidiary of Alphabet (GOOGL; $174.31; NR), announced its Waymo One autonomous…

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December 6, 2024

STX: Time for Forrest Over Trees Thinking; Buying Opportunity

By Steven Fox

Earlier this week, executives from Seagate (STX; $98.18; O/P) provided a few meaningful updates ahead of presenting at a couple of investor conferences, including that it: (1) cleared important product qualification hurdles tied to the…

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December 5, 2024

CHPT: Shows Some More Signs of Righting the Ship

By Steven Fox

We make relatively modest changes to our F2025 and F2026E (Jan) sales and EBITDA forecasts for ChargePoint (CHPT; $1.22; E/W) after the company reported some better-than-expected FQ3 (Oct) results and offered up FQ4E (Jan) sales…

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December 4, 2024

MBLY: Cleaning Up Model Ahead of Capital Markets Day

By Steven Fox

We are reducing 2025E sales, operating profit, and EPS for Mobileye (MBLY; $17.54; E/W) ahead of the company’s upcoming Capital Markets Day in Munich, Germany on December 9-10th to better consider uncertainty around future shipments…

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December 3, 2024

Fox Tracks: Retail Storage Pricing Survey

By Steven Fox

We checked retail prices on “Black Friday” (11/29) for hard disk drives (HDDs) and solid-state drives (SSDs), which we measure on a Dollar per Gigabyte basis ($/GB). Our checks suggested HDD retail prices are down…

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December 3, 2024

Fox Tracks: Retail LCD TV Pricing Survey

By Steven Fox

On “Black Friday” (11/29), we checked prices on several popular full-HD (1080p) and 4K Ultra High Definition (UHD 2160p) LCD TV models from LG, Samsung and Vizio by pulling publicly available prices from OEM websites,…

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December 2, 2024

CHPT: More Risks to Consider into FQ3 Print

By Steven Fox

We are concerned that we may need to lower our F2025E/F2026E (Jan) sales and profitability forecasts somewhat further for ChargePoint (CHPT; $1.19; E/W) after the company reports its FQ3 (Oct) results on Wednesday (12/4 after…

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