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☆ Analysts say don't chase this Intel pop here
▼ + stars: | 2024-09-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Wall Street analysts are still skeptical on Intel despite its latest moves aimed at righting the ship. Shares of Intel gained more than 3% on Tuesday after the chipmaker said it would turn its foundry business into an independent unit — allowing it to raise outside capital . The analyst added that Intel's plan to establish its foundry business as an independent subsidiary was "expected and not good." "We expect Intel's EPS to be under pressure given its foundry business, which we believe has minimal chance of succeeding," he wrote. Intel shares have lagged the broader semiconductor sector year to date, losing 56% in that time.

Persons: Bernstein, America's Vivek Arya, INTC, Christopher Danely, Intel's Organizations: Intel, Amazon, Bank of America, JPMorgan, Citi, Wells, America's, VanEck Semiconductor Locations: AVGO

☆ Buy stocks like Nvidia to cash in on the AI data center wave, Bank of America says
▼ + stars: | 2024-09-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Bank of America highlighted a host of stocks that are worth snapping up — including a few names benefiting from the artificial intelligence and data center revolution. Johnson Controls "Best-in-class data center assets and change is coming. … Leading position in data centers JCI is on track to generate ~$4bn from data centers, or ~14% of revenue in FY24E. JCI's data center exposure compares to Trane Technologies' ~4% and Carrier's ~3%, by our estimate. … We rate Broadcom Buy due to its high-quality diversified exposure to secular product cycles in the smartphone, cloud data center, telecom and enterprise storage markets."

Persons: Alexander Waters, Waters, Dycom, Johnson, it's, Andrew Obin, Obin, George Oliver, Vivek Arya, Arya's, Arya Organizations: America, CNBC, Bank of, National Grid, Broadcom, Nvidia, Johnson, Dycom Industries, government's Broadband Equity, Dycom, JCI, Johnson Controls, VMware, Industries, Trane Technologies Locations: FY24E

☆ Bank of America says Broadcom's sales growth to double because of AI, raises price target even higher
▼ + stars: | 2024-06-24 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Bank of America sees more room for Broadcom to run, with its sales growth likely to double as a result of the artificial intelligence craze. Analyst Vivek Arya hiked his price target by $150 to $2,150 while reiterating his buy rating and top-pick designation. Arya's new target implies that shares of the semiconductor stock can rally around 30% from last week's closing level. A key part of Arya's call is sales growth approximately doubling to a compound annual rate of around 13% between the 2024 and 2026 fiscal years. This will be propelled by a 24% compound annual growth rate in the AI-connected silicon and VMWare businesses, he said.

Persons: Vivek Arya, Arya, that's Organizations: of America, Broadcom, VMWare, iShares Semiconductor, Nasdaq

☆ Bank of America says Broadcom could join Nvidia in the 'trillionaires club'
▼ + stars: | 2024-06-13 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Broadcom has a pathway to "join the trillionaires club," Bank of America said as it reiterated a buy rating on the chipmaker Thursday. The firm raised its price target to $2,000 per share from $1,680, a forecast that implies nearly 34% upside from Wednesday's $1,495.51 close. Analyst Vivek Arya said Broadcom's steady semiconductor sales and its exposure to multiple secular product cycles could help it get there. AVGO YTD mountain Broadcom stock. On Thursday, Broadcom stock rallied more than 15% and touched a fresh 52-week high.

Persons: Vivek Arya, it's, Arya Organizations: Broadcom, Bank of America, Microsoft, Apple, Nvidia, Wall

Citi double upgraded Best Buy to buy from sell, and its new price target indicates upside of 18%. MRVL YTD mountain MRVL year to date — Lisa Kailai Han 6:16 a.m.: Bank of America sticks to Nvidia as a top pick with 36% upside Nvidia remains a top pick for Bank of America. He also maintained his price target of $1,500 and named Nvidia a top pick following CEO Jensen Huang's keynote speech at the Computex expo this past weekend. Arya's price target implies that Nvidia stock could rise 36.8% from here, adding to its whopping 121% year-to-date rally. — Lisa Kailai Han 5:46 a.m.: Citi double upgrades Best Buy to buy rating from sell There's a rosy outlook for Best Buy ahead, according to Citi.

Persons: Kimberly, Clark, Goldman Sachs, Toshiya Hari, Hari, Marvell's, Lisa Kailai Han, Vivek Arya, Jensen, Arya, — Lisa Kailai Han, Piper Sandler, Masimo, Jason Bednar, Bednar, MASI, Steven Zaccone, Nik Modi, Modi, Fred Imbert Organizations: CNBC, Citi, RBC, Bank of America, Nvidia, Marvell Technology Marvell Technology, Enterprise Networking, Marvell, Sound, Kimberly, Clark Investors, RBC Capital Markets Locations: Friday's, Kimberly, KMB

☆ This software stock is quietly one of the best tech stocks of the decade and Bank of America sees more gains ahead
▼ + stars: | 2024-05-30 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Cadence Design Systems is well ahead of its artificial intelligence peers when it comes to delivering steady returns, according to Bank of America. The electronic systems design company is a "high-quality growth compounder" that's "well levered to AI," analyst Vivek Arya said in a Wednesday note to clients. Cadence develops software, hardware and intellectual property that is used to design chips and printed circuit boards, among other related products. "Over the past decade CDNS has delivered 33% annualized returns, 300bps ahead of rival SNPS , and among top 5 across our coverage, well-ahead of SOX index up 25%. Importantly, CDNS stock has outperformed the SOX index each of the 18 times the SOX index declined by over 10% since 2010."

Persons: Vivek Arya, Arya, CDNS Organizations: Cadence Design Systems, Bank of America, Cadence, PHLX Semiconductor, SOX, Nvidia, AMD, Samsung Locations: SOX

On a positive note, Bank of America raised its price target on Nvidia to $1,100, implying gains of nearly 20%. Analyst Ruplu Bhattacharya upped his price target by $240 to $1,280, now implying upside of 10.1% from Tuesday's close. Analyst Sheila Kahyaoglu upgraded the airline stock to hold from underperform and raised her price target by $8 to $28. Still, her new price target implies shares will slid another 2.6% — even after Tuesday's big drop. Notably, he said Nvidia stock is at a lower forward price-to-earnings multiple today than when ChatGPT was launched.

Persons: Wells, BofA, Ruplu Bhattacharya, Bhattacharya, Alex Harring, Jefferies, Sheila Kahyaoglu, Tuesday's, Kahyaoglu, — Alex Harring, Vivek Arya, Arya, ChatGPT, Colin Langan, Langan, Fred Imbert Organizations: CNBC, Bank of America, Nvidia, Artificial Intelligence, Super Micro, Southwest, Jefferies, Boeing, of America, Tech Conference, EU, China Locations: Tuesday's, underperform, Woodstock, Wells

☆ Bank of America says keep buying this server maker with an AI competitive edge and great relationship with Nvidia
▼ + stars: | 2024-03-13 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Super Micro Computer has more room to run given its competitive advantage and relationships in the artificial intelligence sector, Bank of America said. Analyst Ruplu Bhattacharya hiked his price target by $240 to $1,280, now implying upside of 10.1% from Tuesday's close. Bhattacharya's call comes amid rising expectations for growth in the broader AI server industry as the technological craze continues. SMCI YTD mountain Super Micro Computer, year to date The analyst's new target price also offers reassurance that the stock's rally isn't losing steam. Super Micro shares have already surged more than 300% this year as the AI craze continues, adding to 2023′s jump of more than 240%.

Persons: Ruplu Bhattacharya, Bhattacharya Organizations: Bank of America, Intel, AMD, Nvidia, Computer, Super Micro Locations: Tuesday's

☆ The Juggernaut promised to revolutionize South Asian news. But insiders say the company's founder misled investors, struggled to raise money, and left workers 'heartbroken.'
▼ + stars: | 2024-03-05 | by ( Katie Warren | ) www.businessinsider.com time to read: +33 min

They were gathered for the inaugural summit of The Juggernaut, a digital South Asian news startup that launched in 2019. The Juggernaut spokesperson told BI that "multiple employees have equity in the company," but BI was unable to identify any such employees. "Twenty years ago, you might've struggled to mention a South Asian actor that you've seen in a movie," he said. As of January, the site had about 10,500 subscribers, Sur told investors in an email viewed by BI. Some feel that the publication has strayed from its mission of delivering "untold, smart South Asian stories and news you won't find anywhere else."

Persons: —, Richa Moorjani, Manish Chandra, Anish Melwani, Sadiq Khan, Amitav Ghosh, Roy Rochlin, Jay Bhattacharya, didn't, Sur, Padma Lakshmi, Moorjani, Mira Nair, Oprah Winfrey, she'd, who've, Josh Benson, Bhattacharya, might've, you've, Dev Patel, Priyanka Chopra, Black millennials, Bhattacharya's, Adam Hansmann, Kevin Lin, Albert Ni, Charles Hudson, Steve Jennings, Sur's, Kyle Stanford, Axios, Stanford, Snigdha, Winfrey, MICHAEL TRAN, hadn't, wouldn't, Fariha Róisín, Meghna Rao, Róisín, Rao, Rao didn't, they'd, she's, it's, Hudson, who'd, Reetu Gupta, Aditi Shah, Sean Gupta, Steven Simione, would've, we're, Brian Morrissey, Morrissey, cofounders, Narendra Modi's, Sneha Mehta Organizations: Spring Studios, Netflix, Business, New Yorker, Harvard Business School, Guardian, American, Old Town Media, Athletic, BI, Indian, Yale, McKinsey, Precursor Ventures, Forbes, Getty, TechCrunch, YouTube's Sustainability, YouTube, Paramount Pictures Studios, Immigration Services, Stanford, Digiday, Gannett Locations: York City, chai, Jean's, hasn't, Sur, New York City, South, Asian, India, Madhya Pradesh, Queens, Sur texted, Indian American, AFP, Róisín, Los Angeles , California, South Asia, Silicon

☆ TikTok is testing an AI tool that identifies products in user videos so it can sell similar items via its e-commerce platform
▼ + stars: | 2023-10-30 | by ( Dan Whateley | ) www.businessinsider.com time to read: +3 min

TikTok has started shilling products for sale using videos that have nothing to do with shopping, as it continues its charge into e-commerce. The company is using artificial intelligence to scan videos, identify items, and encourage users to buy similar products through its e-commerce marketplace, TikTok Shop. The company uses machine-object detection to identify products in videos and suggest similar product categories, they said. TikTok added a "Shop now" button to Insider reporter Shriya Bhattacharya's video, encouraging other users to shop for wedding dresses on TikTok Shop. The arrival of shopping buttons on regular TikTok videos shows how deeply the company is integrating e-commerce into the app's overall user experience.

Persons: TikTok, it's, Shriya Bhattacharya, Shriya, Bhattacharya Organizations: Facebook, Google

☆ Investors may be 'overlooking' potential catalysts for this AI winner, says Bank of America
▼ + stars: | 2023-09-11 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Based on his price objective of $650 per share, Arya's forecast implies nearly 44% upside from Monday's closing price of $451.78. Since the beginning of 2023, Nvidia's forays into AI have vaulted its stock price over 209%. But even Nvidia has not been immune to growing investor concerns around rising U.S.-China tensions, weakening industrial activity, and the sustainability in demand for generative AI products. Over the long term, the analyst expects Nvidia's earnings potential and several catalysts will continue to drive its share price higher. He warned investors may be "overlooking" these factors, which include the company's expanding product offerings, especially those within the generative AI space.

Persons: Vivek Arya, Arya, CNBC's Michael Bloom, Samantha Subin Organizations: of America, Nvidia, Semiconductor, AMD Locations: China

☆ Wall Street wants to see if AMD can rebound in 2 key businesses. But analysts disagree on how to play the stock
▼ + stars: | 2023-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Wall Street is focused on the potential for a bounce back within Advanced Micro Devices ' struggling personal computer and data center businesses. Arya's price target of $95 reflects the potential for an upside of 5.7% over Tuesday's close. Meanwhile, Citi's Christopher Danely said data center growth estimates for the second half seem aggressive. "We believe there could be more downside to AMD's data center business as AMD's data center revenue has only corrected 22% from its peak in 3Q22 while Intel's data center business has corrected 42%." Moore said the data center business was down 22% quarter over quarter, while PCs dropped 18% quarter over quarter and 65% year over year.

☆ Nvidia's 'dominant A.I. leadership' is clear after GTC developer conference, Wall Street analysts say
▼ + stars: | 2023-03-22 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

If there's one takeaway from Nvidia 's developer conference, it's the computing firm's dominant leadership in artificial intelligence, according to Wall Street analysts. Investors piled into Nvidia shares this year as they sought ways to play the growing AI trend. NVDA 1Y mountain Nvidia shares 1-year The event only added to their confidence in the stock. to a multi $Tn+ IT/Infrastructure as a service industry TAM from narrower chip-only industry opportunity," Arya wrote to clients on Tuesday. JPMorgan's Harlan Sur reiterated an overweight rating, saying Nvidia's "dominant AI leadership" is clear following the event.

☆ How a Gen-Z artist has built a business on TikTok with 40K followers, and how much she earns from the Creator Fund and brand deals
▼ + stars: | 2022-09-19 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +6 min

Manasi Arya started posting artwork on Instagram and TikTok after she graduated college. Arya's ArtwithManasi accounts now have 40,100 followers on TikTok and 19,000 followers on Instagram. Around the same time, she hit 10,000 followers on TikTok and applied for the platform's Creator Fund. She earned $9,000 to create one video for DirecTV that was posted on TikTok and Instagram. Although her videos about art remain popular, she branched out into posting about fashion, identity and representation, and dating.

☆ How Much a Gen-Z Artist Earns From TikTok With 40K Followers
▼ + stars: | 2022-09-16 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +6 min

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