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Here are Wednesday's biggest calls on Wall Street: Citi reiterates Chipotle as buy Citi raised its price target on Chipotle to $2,699 per share from $2,292. "We are launching coverage of NKLA with an Outperform rating and a $2 price target." Polestar : On a Road to Nowhere - Initiating Coverage with a target price of $1.15, Underperform." Citi upgrades Sunoco to buy from neutral Citi said the oil and gas company is "compelling." Citi reiterates Microsoft as buy Citi raised its price target on the stock to $470 per share from $432 and said "ramping GenAI should keep growth accelerating."
Persons: Chipotle, Daiwa, Wells, Morgan Stanley, it's, Baird, Nikola, Bernstein, Biogen, Webster, Redburn, Tesla, Apple, Morgan Stanley downgrades PagerDuty, Gordon Haskett downgrades Uber, Gordon Haskett, Oppenheimer, PulteGroup, Wolfe Organizations: Citi, Verizon, Netflix, Amazon, EV, Devices, AMD, UBS, Apple, Uber, Deutsche Bank, Deutsche, Barclays downgrades, Barclays, Microsoft, BMO, HSBC, Stellantis, Entertainment, Nvidia, Wolfe Alpha, Valero, Phillips Locations: H1'24, Nowhere, China
DuPont preannounced disappointing earnings results before the opening bell Wednesday, sending the stock down roughly 13%. Operating fourth-quarter EBITDA (earnings before interest, taxes, depreciation, and amortization) is expected to be about $715 million, operating cash flow about $640 million, and adjusted free cash flow is expected to be about $500 million. That compares to estimates, according to FactSet, of $746 million, $573 million and $447 million, respectively. These forecasts represent across-the-board misses versus Street expectations for sales of $3.04 billion, operating EBITDA of $751 million, and earnings of 88 cents per share. Given the slower recovery and impact on 2024 earnings, we are reducing our DuPont price target to $78 per share from $85.
Persons: We're, That's, destocking, it's, Dupont, Patience, Danaher, Jim Cramer's, Jim Cramer, Jim, Jeff Fusco Organizations: DuPont, LSEG, Caterpillar, Nvidia, Danaher, Devices, AMD, Broadcom, CNBC Locations: Wilmington , Delaware
But elevated expectations for AI chip growth has led Northland Capital Markets analyst Gus Richard to admit that he's not sure where AMD shares should go from here. "We downgrade on valuation to 'a heck if we know' rating," Richard wrote in a note on Monday. Richard's call is based on his view that investor expectations for AI chip growth have spilled into "irrational exuberance." AMD shares fell about 3.5% to $168.17 as of Monday afternoon. Nvidia shares were up less than 1%.
Persons: Lisa Su, , Gus Richard, he's, Richard, Jim Breyer Organizations: AMD, Nvidia, Microsoft, Meta, Northland Capital Locations: Las Vegas , Nevada, Northland, U.S, China
For an agonizing month, the S & P 500 toyed with the prior all-time highs of January 2022 before finally breaking through to new all-time highs on Friday. Yet here we are, reviewing the biggest trading day of the year so far, and AMD was the best-performing stock in the S & P. Nvidia was 12th. What is true is that the S & P 500 rises over time. Market Cap weighted indices, such as the S & P 500 represent the largest and generally most successful publicly traded companies. Notice that a January 2025 SPDR S & P 500 Trust (SPY) $460 strike put costs just over $16 per contract.
Persons: bender, Stocks, SPDR Organizations: AMD, Nvidia, Healthcare, Centene Corp, United Health, Enphase Energy, SEC, Investors, Apple, Microsoft, U.S . Locations: China, U.S
The firm rebalanced its return on equity growth basket of stocks, which is sector-neutral to the S & P 500. It contains 50 names with the highest consensus expected ROE growth over the next 12 months. Stocks with greatest expected ROE growth include gold mining company Newmont , wireless infrastructure real estate investment trust American Tower , chipmaker Advanced Micro Devices and toy manufacturer Hasbro , according to Goldman. The communications-focused REIT has the second-highest expected ROE growth — 48% — of the names on Goldman's list. In addition to these names, Netflix and T-Mobile are also among the names in Goldman's ROE growth basket.
Persons: Goldman Sachs, ROE, David Kostin, Kostin, Goldman, Newmont, REIT, Goldman's ROE Organizations: Federal Reserve, Devices, Hasbro, AMD, Nvidia, UBS, Netflix, Citigroup Locations: Newmont, Goldman's
Nvidia hits record high
  + stars: | 2024-01-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia hits record highCNBC's Kristina Partsinevelos joins 'Halftime Report' to discuss the latest news from Chip stocks like AMD and Nvidia. The Investment Committee debates what to do with the names and the sectors.
Persons: Kristina Partsinevelos Organizations: AMD, Nvidia
Northland downgrades Advanced Micro Devices to market perform from outperform Northland downgraded the stock mainly on valuation. " Bernstein reiterates Apple as market perform Bernstein said it expects "not great" Apple earnings on February 1. William Blair downgrades Vita Coco to market perform from outperform William Blair said it's concerned about higher costs for the beverage company. Raymond James downgrades Comerica to market perform from outperform Raymond James said the earnings outlook looks too challenging for Comerica. "We are downgrading CMA shares from Outperform to Market Perform and reducing our 2024 EPS estimate to reflect its initial 2024 outlook."
Persons: Bernstein, Hunt, KeyBanc, Key, it's, Morgan Stanley, Oppenheimer, Lowe's, Goldman Sachs downgrades Archer, Daniels, Goldman, Vikram Luthar, William Blair downgrades Vita Coco, William Blair, Wolfe, NiSource, Tesla, Goldman Sachs, Stone, Evercore, Raymond James downgrades, Raymond James Organizations: Bernstein, Pacific, Norfolk, Union Pacific, NSC, UBS, Devices, Northland, AMD, Western, Home Depot, Apple, HSBC downgrades Lululemon, Daniels Midland, ADM, TAM, Airlines, Barclays, Netflix, JPMorgan, Xerox JPMorgan, Raymond James downgrades Comerica, Comerica, CMA Locations: Norfolk Southern, Northland, Brazil
Just over two months ago, the S&P 500 was at a breaking point. After Keller's call, the S&P 500 rose nearly 6% in six weeks. The S&P 500 was stuck in purgatory for weeks, barely budging from the 4,769 level at which it entered 2024. David Keller, StockCharts.comExpect the S&P 500 to heat up heading into the summerDespite stocks' shaky near-term prospects, Keller believes their medium-term outlook is rosy. In all likelihood, Keller said the S&P 500 will regain momentum after a near-term hiccup and push toward the 5,000 milestone in April, May, or June.
Persons: David Keller, naysayers, Keller, it'll, StockCharts.com, that's Organizations: Business, Nvidia, Devices, AMD, VanEck Semiconductor Locations: StockCharts.com
Nearly 70 S & P 500 companies are slated to report earnings this week. Of the roughly 52 S & P 500 companies that have reported, just 69% have beaten earnings expectations, according to FactSet. What history shows: Bespoke Investment Group data shows United beats earnings expectations 70% of the time. What history shows: Bespoke data shows Netflix exceeds earnings estimates 81% of the time. What history shows: Bespoke data shows Alaska Air tops bottom-line estimate 72% of the time.
Persons: Buckle, Leslie Josephs, Max, Procter & Gamble, Robert Ottenstein, Procter, headwinds, Trian's Nelson Peltz, , Alan Gould, Jordan Novet, Tesla, TSLA, Elon Musk, Elon, Jefferies, Philippe Houchois, INTC, Timothy Arcuri Organizations: Netflix, Intel, Investors, CNBC, Monday United Airlines, Boeing, Max, Alaska Airlines, FAA, Procter &, Procter, Gamble, HBO, IBM, ISI, Alaska Air Group, Alaska Air, Nvidia, AMD, UBS Locations: Alaska, U.S, China, Europe
This is Wayfair's third restructuring since 2022 and is expected to save the company about $280 million. Hertz — Hertz shed 2.8% on a Jefferies price target cut and downgrade to hold from buy. AMD added 1.6%, after reaching its highest-ever closing price on Thursday amid increased investor interest in the second-largest standalone GPU maker. DraftKings — Shares of the sports betting company rose more than 1% after Stifel upgraded DraftKings to buy from hold. J.B. Hunt Transport Services – Shares rose more than 3% after the company posted mixed quarterly results.
Persons: Hertz, Wells, Stifel, J.B, J.B . Hunt, Macheel, Samantha Subin, Jesse Pound Organizations: Jefferies, EV, Spirit Airlines, JetBlue, Texas, UBS, Nvidia, AMD, ESPN Bet, Hunt Transport, LSEG
The latest financial results and commentary from the world's biggest third-party chipmaker gave a big boost Thursday to Apple and semiconductor stocks, including artificial intelligence leader Nvidia . Taiwan Semiconductor Manufacturing Company , whose customers include the likes of Apple, Nvidia and fellow Club stock Broadcom , said its fourth-quarter revenue from smartphone chips grew a better-than-expected 27% on a quarterly basis. "Let's not overthink it: Apple and Nvidia are the two that are most obvious" beneficiaries from TSMC's results, Jim Cramer said Thursday. Previously, TSMC had said AI chips were on track to become a "low teens" percentage of its revenue. TSMC's results and guidance Thursday offer so-called "read-throughs" on its customers, many of which are Club stocks such as Apple, Nvidia and Broadcom.
Persons: chipmaker, downgrades, TSMC, Jim Cramer, Goldman Sachs, TSMC's bullishness, Linde, that's, Jim Cramer's, Jim Organizations: Apple, Nvidia, Taiwan Semiconductor Manufacturing Company, Club, Broadcom, Qualcomm, Bank of America, Wall Street, Google, Devices, AMD, TSMC, KeyBanc Capital, LIN, Linde, DuPont, Electronics, CNBC, Bloomberg, Getty Locations: China, Hsinchu, Taiwan
Meta CEO Mark Zuckerberg upped the ante this week by disclosing how many of these graphics processing units Meta will have by the end of 2024. AdvertisementTo that end, Meta will have purchased about 350,000 Nvidia H100 GPUs by the end of 2024. And overall the company will own roughly 600,000 of these types of chips, if you include other similar GPUs, Zuckerberg noted. A single Nvidia H100 GPU is estimated to cost about $30,000 although other estimates put the cost as high as $40,000. And similar GPUs from other providers may be cheaper than Nvidia's offerings.
Persons: , Mark Zuckerberg, Zuckerberg, Meta, Meta's Ray Organizations: Service, Business, Meta, Nvidia, AMD, Reality Labs, AIs, Employees
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAMD's AI narrative overshadowed last years' misses, says Bernstein's Stacy RasgonStacy Rasgon, Bernstein, joins 'Fast Money' to talk the recent tech run and its impact on the AI and semiconductor sector.
Persons: Bernstein's Stacy Rasgon Stacy Rasgon, Bernstein
The hefty Davos promotions come after India surpassed China last year as the world's biggest country by population. Now India is touting its growing strength as a nation of innovation and as a global business hub in front of some of the world's richest and most powerful people. "As China's economy slows down, India's relatively rapid growth stands out as a clear opportunity for investors in Davos looking for bright spots." "We had an all-time revenue record in India," Apple CEO Tim Cook said on the company's latest earnings call in November, in response to an analyst's question about the company's momentum there. Hidary said Indian billionaire Mukesh Ambani's smartphone company Jio will serve about 600 million people in India through a $12 device.
Persons: There's, Ravi Agrawal, Agrawal, Narendra Modi, that's, Tim Cook, Apple Tim Cook, Punit Paranjpe, Jack Hidary, Hidary, Mukesh, Ambani Organizations: India Engagement, Wipro, Infosys, Tata, Foreign Policy, CNN, CNBC, World Bank, International Trade Administration, Visual, Bank of India, Dell, HP, Lenovo, Apple, AFP, Getty, India, AMD, Nvidia, Micron, WEF Locations: DAVOS, Switzerland, Davos, India, China, CNN India, Maharashtra, Tamil Nadu, Telangana, Karnataka, U.S, Mumbai, Bangalore, Gujarat
Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Meta is spending billions of dollars on Nvidia's popular computer chips, which are at the heart of artificial intelligence research and projects. In December, tech companies like Meta, OpenAI and Microsoft said they would use the new Instinct MI300X AI computer chips from AMD. Meta is currently training Llama 3 and is also making its Fundamental AI Research team (FAIR) and GenAI research team work more closely together, Zuckerberg said. Shortly after Zuckerberg's post, LeCun said in a post on X, that "To accelerate progress, FAIR is now a sister organization of GenAI, the AI product division."
Persons: Mark Zuckerberg, Zuckerberg, Raymond James, Meta, Yann LeCun, LeCun, Jensen Huang, Zuckerberg's, Kif Leswing Organizations: Meta, Nvidia, Zuckerberg, eBay, Microsoft, AMD, AI Research, FAIR, Apple Locations: Menlo Park , California, San Francisco
AdvertisementIntel 14th-generation Core and Core Ultra CPUs at a glanceIntel Core 14th generation: Intel's most powerful CPUs, but not by muchThe first 14th-generation Intel Core CPUs hit shelves last year. AdvertisementIntel Core 14th generation for desktopsFirst, let's look at Intel's flagship line of consumer-grade desktop CPUs, the Intel Core i5/i7/i9 14th generation. AdvertisementIntel Core Ultra: Better battery life and AI toolsThe Intel Core Ultra is entirely separate from the Intel Core 14th generation. IntelReleasing alongside the Intel Core 14th generation laptop chips are the Intel Core Ultra CPUs, also known by their codename "Meteor Lake." It's intended as a direct successor to the first Intel Core Ultra processors, and will likely be marketed as the "Intel Core Ultra 2."
Persons: it's, they're, There's Organizations: Intel, Dell, MSI, Future Publishing, Puget Systems, K, Razer, Asus, Swift, AMD, Processing Unit, CES, Raptor
A host of companies reporting quarterly results next week have momentum on their side after Wall Street analysts boosted their earnings estimates on them over the past three months. The fourth-quarter earnings season is expected to show tech stocks as the standout segment of the benchmark S & P 500. Still, some stocks that are set to report earnings next week have seen analysts bump up their profit forecasts. INTC YTD mountain Intel stock has ticked down about 6% from the start of the year. Analysts surveyed by FactSet now estimate the company will notch an adjusted earnings per share of $7.07 in its most recent quarter.
Persons: FactSet, it's Organizations: Wall Street, CNBC, Intel, Nvidia, AMD . Semiconductor, Lam Research, VanEck Semiconductor, Xcel Energy Locations: Horton
Nvidia and AMD shares hit record highs on AI chip surge
  + stars: | 2024-01-18 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
AMD and Nvidia hit all-time highs on Thursday as investors continue to clamor for shares of the companies building chips that power artificial intelligence. AMD shares rose over 1% during trading on Thursday to reach its highest-ever closing price, $162.67, while Nvidia, rose just under 2% to $571.07. Both companies have notched double-digit percentage gains to start the year after an explosive 2023 in which AMD shares popped 127.6% and Nvidia stock rocketed 238.8%. Analysts also see AMD improving its AI software, eliminating one major reason why Nvidia chips were preferred over AMD's. On Thursday, Taiwan Semiconductor Manufacturing Company , which manufactures Nvidia and AMD chips, reported better-than-expected sales.
Persons: Jensen Huang, they're, C.C, Wei, Goldman Sachs, Toshiya Hari, Mark Zuckerberg Organizations: Nvidia, AMD, Investors, Taiwan Semiconductor Manufacturing Company, Meta
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's product roadmap is evolving, says Bernstein's Stacy RasgonStacy Rasgon, Bernstein senior analyst, joins 'Squawk on the Street' to discuss what's happening with AMD's stock right now, if other tech companies are closing the gap to Nvidia, and more.
Persons: Bernstein's Stacy Rasgon Stacy Rasgon, Bernstein Organizations: Nvidia
Edge AI, or AI at the edge, refers to the utilization of AI in edge computing, and its growth should have an immense effect on the technology world over the next few years. Given this outlook, Abrams named some of the top companies across technology sectors situated to benefit from AI at the edge. UBS projects more upside ahead, viewing both stocks among the top semiconductors as best situated to benefit from Edge AI. Memory chipmakers also look poised to benefit from Edge AI as devices on the edge require more computing power. But the company has been on the uptrend as demand rebounds, AI server demand booms and commercial customers begin deploying AI PCs later this year and into 2025.
Persons: Randy Abrams, Abrams, chipmakers, bode, Alibaba Organizations: UBS, Devices, Nvidia, AMD, Edge, Micron Technology, Micron, Dell, Microsoft, Arista Networks Locations: chipmakers
Some closely watched momentum indicators and a bullish overall chart suggest popular AI chipmaker Advanced Micro Devices is headed for new highs in the near future. The stock hit a new 52-week high and now sits 3.6% below the stock's all-time high of $164.46 set in the fourth quarter of 2021. Many chart analysts expect the stock to blow past that level in the near future. "Anytime a stock makes a new all-time high, it tells me something special is taking place with the company," said JC O'Hara, chief technical strategist at Roth Capital Partners. "Investors should be positioned in these risk stocks that typically outperform in a rising market environment and AMD checks that box," he said.
Persons: Dan Wantrobski, Janney Montgomery Scott, JC O'Hara, Wantrobski, Capital's Todd Gordon, Oppenheimer's Ari Wald Organizations: Devices, AMD, Roth Capital Partners, Nasdaq
Lisa Su displays an AMD Instinct MI300 chip as she delivers a keynote address at CES 2023 in Las Vegas, Nevada, on Jan. 4, 2023. Tom O'Malley, an analyst at Barclays, raised his price target on AMD to $200 from $120, saying AMD could post $4 billion in AI chip sales this year. KeyBanc analysts also increased their price target for AMD to $195 and Nvidia to $740 on Tuesday, due to strong demand for AI servers. Nvidia , which has the vast majority of the market for AI chips and was the best-performing stock in the S&P 500 last year, advanced 3% to $563.82. Analysts see AMD improving its AI software and expect major chip buyers such as cloud providers and tech giants to look hard at using AMD GPUs.
Persons: Lisa Su, Tom O'Malley, O'Malley, Jim Breyer, Breyer, NVDA Organizations: AMD, Microsoft, Google, Barclays, AMD's, Nvidia, Venture, CNBC Locations: Las Vegas , Nevada
AdvertisementIn total, the advanced tech imported by the Kremlin in those months is valued at $8.77 billion, the report said. Components from all of these companies have been found in Russian weapons retrieved from the battlefield, the report added. That's more than the US, but still less than the amount of imported tech originating from the Western coalition, which includes South Korea and Japan, per the report's data. AdvertisementThe joint report comes just after Ukrainian President Volodymyr Zelenskyy said on Tuesday that Western sanctions were marred by loopholes. The Yermak-McFaul International Working Group on Russian Sanctions is partially run by Zelenskyy's office.
Persons: , Volodymyr Zelenskyy, Michael McFaul Organizations: Service, Business, Kremlin, Russian Sanctions, Kyiv School of Economics, Manufacturers, Intel, Devices, Texas Instruments, AMD, Western, Stanford Locations: Moscow, Ukraine, Russia, US, Massachusetts, China, Hong Kong, South Korea, Japan
If you rode your Big Tech winners into the new year, now might be the time to consider whittling down a few of those overweight positions. "It's the only way to consistently buy low and sell high, but no one ever wants to do it," duQuesnay said. He noted that the iShares Russell 2000 ETF (IWM) is a good way to get broad exposure to the space. The Federal Reserve's rate-hiking campaign made yields on an array of assets, ranging from Treasurys to money market funds, attractive. Ethridge, who bought six- and 12-month brokered certificates of deposit for clients in 2023, is going for longer-dated instruments these days.
Persons: rebalancing, Blair duQuesnay, duQuesnay, Morningstar, Amy Arnott, Arnott, it's, Barry Glassman, Russell, didn't, Malcolm Ethridge, Ethridge, Tesla, Glassman Organizations: Big Tech, Microsoft, Nvidia, Tesla, Ritholtz Wealth Management, Wealth Services, Wealth, AMD, Federal, Taxpayers Locations: New Orleans, North Bethesda , Maryland, Rockville , Maryland, rebalance
Here’s a look at some of the buzziest products announced this week:Loona companion robot is the world's first consumer robot equipped with ChatGPT AI technology. From Beijing KEYi Technology Co. Ltd.AI companionsAI companions are one of the biggest trends to emerge from the show this year. Samsung’s buzzy Ballie robot, which was first shown off at CES in 2020, received a refresh. BaracodaAI task robotsBeyond companions, AI has made its way into nearly every appliance and gadget you could think of this year. LG was one of the first leaders in transparent TVs; one of its earlier prototypes impressed the show floor back in 2020.
Persons: it’s, Loona, Rosie, Samsung’s, Dipanjan Chatterjee, , Volkwagen, Mercedes Benz, Chatterjee, ” Honda, VinFast, “ There’s, Jon Erensen, EssilorLuxottica, Francesco Milleri, Evie, Steve Jobs, Cook, Christoph Dernbach, , Jitesh Ubrani, ” Ubrani, CNN’s Peter Valdes, Dapena Organizations: CNN — Tech, Consumer Electronics, Beijing KEYi Technology, ., LG, CES, Forrester Research, Walmart, Nvidia, AMD, Honda, VinFast, Fiat, Samsung, Gartner, Media, Apple Vision, Steve, Apple, IDC, Sony, Qualcomm Locations: Las Vegas, Beijing, USA, Cupertino, Cupertino ., Apple's, United States
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