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☆ JPMorgan says this tech stock that's tripled this year can keep going as it helps lead the AI revolution
▼ + stars: | 2024-03-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Super Micro Computer's red-hot run should continue as it powers the artificial intelligence revolution sweeping Wall Street, according to JPMorgan. Analyst Samik Chatterjee initiated coverage of Super Micro Computer with an overweight rating as the company leads the AI compute market "still in its infancy." Supporting the target and a next-twelve months EPS multiple of 36 times is an expectation for rapid growth and earnings upside within the AI server market. SMCI YTD mountain Super Micro shares year to date Driving ongoing upside is an expectation for rapid growth in the server market. This suggests that Super Micro will conservatively gain 10% to 15% of the AI server market.

Persons: Samik Chatterjee, Micro's, Chatterjee Organizations: JPMorgan, Computer, Super

☆ Stocks making the biggest moves midday: Digital World Acquisition Corp., Boeing, Disney and more
▼ + stars: | 2024-03-25 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Masimo — The medical technology company climbed nearly 5%. Wells Fargo upgraded the stock to overweight from equal weight in light of the news. Super Micro Computer — The chip stock jumped nearly 10% after JPMorgan initiated coverage of the high-flying name. Foot Locker — Shares jumped 7% after Evercore upgraded shares to outperform from in line. Digital World Acquisition Corp. — The special purpose acquisition company leapt 26% after shareholders approved a merger with former President Donald Trump's social media company Trump Media & Technology Group, which owns Truth Social.

Persons: David Calhoun, Larry Kellner, Masimo, Wells Fargo, Samik Chatterjee, Chipmakers, Nelson Peltz's, Bob Iger, Evercore, Foot, Wedbush, GameStop's, Donald Trump's, Alex Harring, Jesse Pound, Hakyung Kim, Pia Singh, Sarah Min Organizations: Boeing, JPMorgan, Department of Energy, Semiconductor, Micron Technology, Nvidia, VanEck Semiconductor, Disney, Barclays, Fund Management, Mizuho, GameStop, Trump Media & Technology Group, Trump Media, United Airlines —, Reuters, U.S . Federal Aviation Administration, United Airlines Locations: Wells, Cleveland, Department of Energy . Cleveland, Ohio, Pennsylvania

☆ These are JPMorgan's top AI stock picks outside of the chip space
▼ + stars: | 2024-03-24 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Overall, Chatterjee said that the AI cohort is trading at a 55% premium relative to the non-AI basket. While that may be the case, the top AI picks still remain attractive — including a few names outside of the chip space, he wrote. In the same note, Chatterjee released a list of his top AI stock picks. One of Chatterjee's top AI picks is PC and server manufacturer Dell . The stock "trades at one of the most inexpensive multiples relative to the AI Group despite the robust premium relative to its own historical average," he wrote.

Persons: Stocks, Samik Chatterjee, Chatterjee, Dell, Goldman Sachs, Michael Ng Organizations: JPMorgan, Nvidia, Apple, Big Tech, Dell, Arista Networks, Arista

☆ Goldman warns these are the most crowded AI-related stocks
▼ + stars: | 2024-02-07 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

These stocks riding the surge of interest in artificial intelligence are the most crowded trades, Goldman Sachs warned. The top five most crowded trades include Autodesk, a design software company; Arista Networks, a network equipment company; and Advanced Micro Devices, a chipmaker. Autodesk is considered the most crowded trade, according to Goldman Sachs. But Goldman Sachs does not anticipate much runway left for the stock, just 3% upside to its price target. The stock is up 23% in 2024, but can fall 27% based on Goldman Sachs' price target.

Persons: Goldman Sachs, Samik Chatterjee, Morgan Stanley Organizations: Street, Autodesk, Arista Networks, Devices, Arista

☆ Apple will report earnings after the bell
▼ + stars: | 2024-02-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +5 min

Apple reports fiscal first-quarter earnings after the bell. Investors will be closely watching to see if Apple guides to growth again in the current quarter. Some analysts believe Apple's iPhone revenue may look good in a soft market quarter, outperforming rivals that are also seeing weak demand. But a strong quarter of iPhone sales over the holiday season could mean a seasonally weak March quarter. "We remain comfortable with our current assumption of muted uptake for the device under 1% of Apple sales this year and next," Rosenblatt analyst Barton Crockett wrote in a note Wednesday.

Persons: Tim Cook, Samik Chatterjee, Apple hasn't, Apple, Morgan Stanley, Erik Woodring, IPhones, Chatterjee, Rosenblatt, Barton Crockett Organizations: Apple, Management, Vision, JPMorgan, Apple Watch, Huawei, Amazon, Apple's, CNBC PRO Locations: Cupertino , California, China, F1Q24, U.S, F4Q, C4Q

Morgan Stanley raised its price target on General Motors. 6:56 a.m.: Morgan Stanley calls Bloom Energy a 'secular winner' Morgan Stanley reiterated its overweight rating on Bloom Energy , naming it an underappreciated AI beneficiary. The firm also maintained its $22 price target on shares, which suggests shares surging more than 94% from where they closed on Wednesday. — Hakyung Kim 6:14 a.m.: Morgan Stanley steps to the sidelines on ZoomInfo ZoomInfo Technologies is "unlikely to zoom into a recovery," according to Morgan Stanley. — Hakyung Kim 5:40 a.m.: Morgan Stanley raises GM price target A focus shift back to internal combustion engine vehicles can give General Motors another jolt higher, according to Morgan Stanley.

Persons: Morgan Stanley, Andrew Percoco, — Hakyung Kim, Antonio Reale, Reale, Hakyung Kim, Elizabeth Porter, Porter, Richard Choe, Choe, Jefferies, NYCB, Jon Arfstrom, Arfstrom, Christopher Danely, Danely, Bank of America's Tal Liani, Liani, Samik Chatterjee, Chatterjee, Adam Jonas, Jonas, — Fred Imbert Organizations: CNBC, General Motors, Qualcomm, Citi, Bloom, Bloom Energy, Bank of America, Santander Santander, Santander, ZoomInfo, JPMorgan, T, RBC, New York, Bancorp New, Bancorp New York Community, Bank, NYCB, Citi Citi, chipmaker Qualcomm, Samsung, Bank of America's, GM Locations: Spanish, Spain, Santander, Europe, U.S, Wednesday's, Bancorp New York

☆ Apple expected to post fourth consecutive quarterly sales decline Thursday
▼ + stars: | 2023-11-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple is expected to post its fourth consecutive quarterly revenue decline when it reports earnings after the bell Thursday. They will also be paying close attention to any clues about how demand for the iPhone 15 lineup is faring. The September quarter isn't Apple's biggest or slowest quarter of the year and only includes about a week or so of iPhone 15 sales. Apple's fiscal fourth quarter period typically includes a little bit of back-to-school laptop and tablet spending benefitting its Mac and iPad divisions. The mood among analysts, especially in regard to expectations for the fourth quarter, is changing.

Persons: Tim Cook, haven't, They'll, Apple hasn't, Luca Maestri, Morgan Stanley, Erik Woodring, Samik Chatterjee Organizations: Apple Inc, Apple Locations: New York, China

☆ Exclusive: JPMorgan shuffles bosses as Rivas to retire as head of North American investment banking -memo
▼ + stars: | 2023-09-26 | by ( Nupur Anand | Thomson Reuters | Nupur Anand Is A U.S. Banking Correspondent At Reuters In New York. She Focuses On Jpmorgan Chase | ) www.reuters.com time to read: +1 min

REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Sept 26 (Reuters) - JPMorgan Chase (JPM.N) reorganized the leadership in its investment bank, promoting a new head in North America to succeed Fernando Rivas, who plans to retire, according to a memo seen by Reuters. He will be replaced by Jay Horine, who is currently the global industry co-head for energy, power and renewables, metals and mining (EPRM), according to the memo. Horine will also continue to be the global industry co-head of EPRM. The bank also appointed several global heads for industry groups reporting to Jim Casey and Vis Raghavan, who jointly lead global investment banking, effective immediately. Chandarana was previously chief data and analytics officer for the corporate and investment bank.

Persons: JP Morgan Chase, Mike Segar, JPMorgan Chase, Fernando Rivas, Rivas, JPMorgan's, Jay Horine, Horine, Jim Casey, Vis Raghavan, Samik Chandarana, Chandarana, Nupur Anand, Lananh Nguyen, David Gregorio, Mark Porter Organizations: JP, Co, REUTERS, JPMorgan, Reuters, Bank, Thomson Locations: New York, North America

☆ Here’s what major analysts thought of the new iPhone and what to do with Apple’s stock
▼ + stars: | 2023-09-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

He highlighted the enhanced photo capabilities on Pro models and called the new double tap feature the most notable upgrade to the Apple Watch. Many analysts expected hikes around $100 and $200 for the beefed up Pro and Pro Max iterations. Apple essentially delivered a $100 price hike on the Pro Max by doing away with the lower storage option. He noted that the hike on the Pro Max skewed to the low end of the Wall Street firm's expectation range. Evercore ISI's Amit Daryanani regarded the event as "mildly disappointing" for bulls hoping for a Pro price increase.

Persons: Toni Sacconaghi, Canaccord Genuity's Michael Walkley, Goldman Sachs, Michael Ng, Wells, Aaron Rakers, Pro Max, iPhones, Atif Malik, Evercore ISI's Amit Daryanani, David Vogt, Samik Chatterjee, Erik Woodring's, Morgan, Apple, Woodring, Sacconaghi, — CNBC's Michael Bloom Organizations: Apple, Apple Watch, Wall, Pro, Citi, UBS Locations: China

☆ JPMorgan trims Apple share price target ahead of iPhone 15 launch
▼ + stars: | 2023-09-08 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Apple has a challenge ahead as investors remain downbeat about the iPhone maker's upcoming launch, according to JPMorgan. Analyst Samik Chatterjee reiterated his overweight rating on the stock but lowered his price target by $5 to $230. This time around could be similar to a period when Apple's shares outperformed by meeting or beating low investor expectations for the iPhone 11, he said. A price increase across all iPhones, instead of only the Pro models, will incentivize consumers to choose the higher-end devices, he added. Despite near-term headwinds, however, the analyst maintained his "favorable outlook" on Apple's iPhone and services revenue, and he sees catalysts to accelerate revenue growth and upside potential.

Persons: Samik Chatterjee, Chatterjee, Apple, — Michael Bloom Organizations: Apple, JPMorgan

☆ Dell shares hit record high after report, forecasts impress with AI in mix
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid Acquire Licensing RightsSept 1 (Reuters) - Shares in Dell Technologies Inc (DELL.N) rose 22.2% and hit a record high on Friday after it raised full-year financial forecasts with boosts from artificial intelligence (AI) and stabilizing demand for computer hardware after a months-long slump. Dell, on track for its biggest ever daily percentage gain, is up more than 70% for the year-to-date. Servers and networking revenue rose 11% from the first quarter to $4.27 billion, driven by higher demand for AI-optimized servers, Dell said. At least 10 analysts raised their target prices for Dell's shares after the report with several including Credit Suisse and Evercore ISI citing its position to benefit from AI.

Persons: Brendan McDermid, Samik Chatterjee, Dell, JPMorgan's Chatterjee, Wells, Sinéad Carew, Lance Tupper Organizations: Dell Technologies Inc, New York Stock Exchange, REUTERS, Dell, CDW, Cisco Systems, Hewlett Packard Enterprises, Credit Suisse, ISI, JPMorgan, Thomson Locations: New York, U.S

☆ Analysts see more gains for Apple going forward, but some warn of mounting headwinds
▼ + stars: | 2023-08-04 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

AAPL YTD mountain Apple stock was trading lower after quarterly results. Apple doesn't provide official forward guidance and has not done so since 2020 over macroeconomic uncertainty. Morgan Stanley's Erik Woodring reiterated an overweight rating on Apple but lowered his price target to $215 from $220. Bank of America's Wamsi Mohan remained neutral on Apple, accompanied by a $210 price target that equates to roughly 10% upside. Rakers maintained an overweight rating on Apple stock with a $225 price target, or about 18% upside from Thursday.

Persons: Apple, Luca Maestri didn't, Apple doesn't, Morgan Stanley's Erik Woodring, Woodring, Morgan Stanley, America's Wamsi Mohan, Mohan, Citi's Atif Malik, Malik, Wells, Aaron Rakers, JPMorgan's Samik Chatterjee, Chatterjee, Goldman Sachs, Michael Ng, Apple's, Ng, — CNBC's Michael Bloom Organizations: Apple, America's

☆ Deutsche Bank downgrades Qualcomm as smartphone slump pressures chipmaker
▼ + stars: | 2023-08-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Deutsche Bank is moving to the sidelines on Qualcomm as a slump in the smartphone market puts pressure on the company. Analyst Ross Seymore downgraded the chipmaker's stock to hold from buy and cut his price target by $10 to $120. For the fiscal third quarter quarter, the company posted $8.44 billion in adjusted revenue, while analysts polled by Refinitiv forecasted $8.5 billion. J.P. Morgan analyst Samik Chatterjee maintained his overweight rating on Qualcomm, but lowered his December 2024 price target by $11 to $148. UBS analyst Timothy Arcuri maintained his neutral rating and $130 price target on the company.

Persons: Ross Seymore, Seymore, Meta —, Morgan, Samik Chatterjee, Timothy Arcuri, — CNBC's Michael Bloom Organizations: Deutsche Bank, Qualcomm, Apple, Huawei, Refinitiv, Meta, Edge, UBS Locations: Wednesday's, IoT

☆ Here's the trade on Apple ahead of Thursday's earnings, according to analysts
▼ + stars: | 2023-08-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Several analysts remain bullish, hiking their price targets in the weeks leading up to Apple's earnings report — despite the stock's 50% runup so far this year. His $220 price target suggests the stock can rally more than 12% from Tuesday's close. Bank of America remains neutral on the stock, but boosted its price target to $210 on July 19. His price target of $149 suggests nearly 24% downside. Her price target of $190 suggests roughly 3% downside from Tuesday's close.

Persons: Samik Chatterjee, Chatterjee, Morgan Stanley, Erik Woodring, Goldman Sachs, Michael Ng, Apple, Wamsi Mohan, Mohan, Tim Long, Grace Chen, Chen, Piper Sandler, TD Cowen, Baird, — CNBC's Michael Bloom, Kif Leswing Organizations: Apple, JPMorgan, Services, Bank of America, Barclays, UBS Locations: Apple's, Tuesday's, Asia

☆ Here's the trade on Apple ahead of Thursday’s earnings, according to analysts
▼ + stars: | 2023-08-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

☆ JPMorgan upgrades Cisco as orders near a trough, says shares look inexpensive and can rally more than 20%
▼ + stars: | 2023-07-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

JPMorgan says it may be time for investors to consider scooping up Cisco Systems as order trends normalize after a spending trough, adding that the shares trade at a cheap valuation. Analyst Samik Chatterjee upgraded the networking stock to overweight from neutral, citing limited enterprise spending downside from current levels. Chatterjee also views the stock as cheap, currently trading at a forward price-to-earnings ratio of 12.5. He raised his 12-month price target to $62, up from $55 a share, reflecting 21% upside from Tuesday's close. Cisco has risen 7.6% year to date and added about 2% before the stock market's opening bell.

Persons: Samik Chatterjee, JPMorgan, Chatterjee, — CNBC's Michael Bloom Organizations: JPMorgan, Cisco Systems, Cisco

☆ What Apple's entry into virtual reality means for the future of Meta Platforms and the metaverse
▼ + stars: | 2023-06-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Meta Platforms ' vision to sell a future where people work, play and mingle in a virtual world may finally be getting its long-overdue validation thanks to an unlikely partner. Apple on Monday unveiled its highly anticipated mixed reality product, known as Vision Pro , at its annual Worldwide Developers Conference . So confident in the bright future of the metaverse, Facebook rebranded itself as Meta Platforms in 2021 to better reflect its vision beyond social media. More than a year and a half later Apple's metaverse entry may finally offer the much-needed support to Meta's overambitious vision, and lure once skeptical investors back to the virtual world. With the company — and metaverse vision — so dependent on consumer adoption, this creates a difficult near-term setup, Meeks said.

Persons: It's, Mark Zuckerberg, Gucci, Meta's, Gene Munster, Wall, Paul Meeks, JPMorgan's Samik Chatterjee, Advisors Capital Management's JoAnne Feeney, Meeks, Davidson's Tom Forte, scoffed, Apple's, Feeney, Bernstein's Toni Sacconaghi Organizations: Apple, Developers, Facebook, Walmart, Grill, Independent Solutions Wealth Management, Advisors Capital, Munster, Quest

☆ CNBC Daily Open: New highs for the S&P and Nasdaq
▼ + stars: | 2023-06-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Knife River Corporation CFO Nathan Ring, rings the bell on the floor of the New York Stock on June 01, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Despite stumbles in some big-name stocks yesterday, markets managed to climb as the uncertainty of previous weeks dissipated. Apple shares dipped 0.2% as investors digested information on the technology giant's new mixed-reality headset.

Persons: Nathan Ring, Goldman Sachs, Samik Chatterjee, Coinbase, weren't fazed, — Organizations: New York Stock, CNBC, Apple, Worldwide Developers, JPMorgan, Boeing, BMO Capital Markets, Nasdaq, Dow Jones, Fed Locations: New York City

☆ CNBC Daily Open: Troubled economies, calm markets
▼ + stars: | 2023-06-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Despite stumbles in some big-name stocks yesterday, U.S. markets managed to climb as the uncertainty of previous weeks dissipated. Apple shares dipped 0.2% as investors digested information on the technology giant's new mixed reality headset. The CBOE Volatility Index, a measure of investors' 30-day expectations and typically seen as Wall Street's fear gauge, dropped to 13.96 yesterday.

Persons: Goldman Sachs, Samik Chatterjee, Coinbase, weren't fazed, —, That's Organizations: CNBC, Apple, Worldwide Developers, JPMorgan, Boeing, BMO Capital Markets, Nasdaq, Dow Jones, Fed Locations: Lianyungang Port, East China's Jiangsu, U.S

☆ Here's what analysts are saying about Apple's new Vision Pro headset
▼ + stars: | 2023-06-06 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The tech giant on Monday unveiled its Vision Pro mixed reality headset, which will retail for $3,499. Davidson downgraded Apple stock to neutral , insisting that any positive bump from the Vision Pro announcement was already priced into the stock's current trading levels. that if Apple's Vision Pro could achieve a ~25% ship share this would leave us to est. He raised his price target to $210 from $185, implying upside of about 17% from Monday's close. To be sure, he maintained Apple as a top pick and with a price target of $190.

Persons: Apple's, D.A, Davidson, Wells, Aaron Rakers, Rakers, Goldman Sachs, restating, Michael Ng, Samik Chatterjee, Chatterjee, Bernstein's Toni Sacconaghi, Sacconaghi, Morgan Stanley's Erik Woodring, — CNBC's Michael Bloom Organizations: Apple, Apple's, JPMorgan Locations: Wall, Monday's

☆ 'A revolutionary product': Here's what Wall Street is saying about Apple's new Vision Pro headset device that costs $3,499
▼ + stars: | 2023-06-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Apple announced the Vision Pro, a $3,499 mixed-reality headset that will be released in early 2024. Wall Street is reacting to the device, with one analyst expecting more than 1 million units sold in its first year. The $3,499 Vision Pro headset offers both augmented- and virtual-reality capabilities, hand-based gesture controls, and advanced eye tracking. Those ranges imply that the Vision Pro will generate between $525 million and $5.2 billion in revenue next year. Rating: Neutral — Price Target: $190"The price tag of $3,499 was higher than the $3K broadly speculated.

Persons: —, Wedbush, Dan Ives, America's Wasmi Mohan, Price, Samik Chatterjee, Goldman Sachs, We're, Michael Ng Organizations: Apple, Vision, Apple Watch, Service, Bank of America, Wall, Meta, Bank, America's, JPMorgan Locations: Cupertino

☆ Apple results show iPhone's 'consumer staple nature' in a tough environment, Wall Street says
▼ + stars: | 2023-05-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Most Wall Street analysts like what they're seeing from Apple , viewing the iPhone maker's better-than-expected results as a sign of resilience and its continued ability to deliver even in a tough environment. Apple rose 2% in the premarket after posting earnings that beat expectations, driven by stronger-than-expected iPhone sales. Chatterjee has an overweight rating on Apple and a price target that implies upside of 14.6%. Softening demand 'casts a cloud' Despite the company's better-than-feared results, some analysts do expect volatility ahead. UBS analyst David Vogt reiterated his buy rating on the stock but said softening demand "likely casts a cloud on the stock near term."

☆ Apple's profit report is the market's next big test now. JPMorgan breaks down whether it can deliver
▼ + stars: | 2023-05-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

With the Federal Reserve's rate decision now in the rear view mirror, the next major test for markets will come from Apple 's March quarter earnings, scheduled for release postmarket Thursday. The largest tech companies so far this earnings season appear to be faring better-than-feared, despite expectations for broad earnings declines compared to a year ago. Some of those "dissimilarities" include stabilizing growth rates "more evident for other Big Tech companies versus Apple's set up for revenue and earning declines," he said. However, "fundamental drivers" for Apple and its stock differ from most of its Big Tech rivals, Chatterjee noted. Apple reports fiscal second quarter results Thursday covering the calendar first quarter, as Apple's fiscal year ends on Sept. 30.

Analyst Samik Chatterjee upgraded HP shares to overweight from neutral. "We are looking to turn a corner in relation to the headwinds that have plagued the PC end-market," Chatterjee wrote in a note Monday. He added that structural margin improvement in the printer segment should help HPQ offset some of the downward pressures from easing supply. The analyst admitted that HP still faces long-term challenges in its printer segment. Shares have jumped almost 11% in 2023 amid a rally in tech shares, after slumping almost 29% in 2022.

☆ JPMorgan upgrades laser maker, says it will rally more than 30%
▼ + stars: | 2023-04-17 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Light waves and laser product maker Lumentum should rally for investors who can see past near-term demand challenges, according to JPMorgan. Chatterjee's new price target implies the stock could rally 32.6% from where it finished Friday's session. LITE YTD mountain Lumentum shares The company is, he noted, facing a "perfect storm" in terms of demand. But he noted shares will trade below a 10x price-to-earnings multiple in both years, which is lower than its historic multiple of 13x. That makes an attractive entry point, he said, with "current valuation pricing in more risks than we see as realistic or assuming the lower demand in Telecom and Datacom is structural rather than cyclical."

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