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This disastrous mindset has hollowed out Silicon Valley's ability to innovate and caused regular people to grow increasingly frustrated with everyday tech. The large platforms have generally ignored this feedback for one big reason: The tech industry has been taken over by career managers. Now Google Search is more profitable and worse, elevating spammy content and outright scams, a problem exacerbated by artificial intelligence. AdvertisementBut today's tech products feel built to sell a dream of the future rather than solve a customer's existing pains. As long as the tech industry is controlled by people who don't build things, it will continue to build products that help raise growth metrics rather than help consumers with tangible problems.
Persons: scammers hawking, Meta's, Hewlett Packard, Kevin Systrom, Mike Krieger, Adam Mosseri, Systrom, Krieger, Mosseri, Mark Zuckerberg, Instagram, Kylie Jenner, Kim Kardashian, Sundar Pichai, Prabhakar Raghavan, Raghavan, Ben Gomes, Gomes, it's, Sam Altman, Helen Toner, Ilya Sutskever, Larry Summers, Fidji Simo, Meta —, , Steve Jobs, Steve Wozniak Organizations: Facebook, Google, Microsoft, Amazon, Oracle, Adobe, Meta, Builders, Apple, Xerox, HP, Department, Reuters Institute, Oxford University, Silicon Valley Locations: Silicon, Silicon Valley
Representatives for Lynch and US prosecutors said Lynch was acquitted on all 15 charges — one count of conspiracy and 14 counts of wire fraud. Former Autonomy finance executive Stephen Chamberlain, who faced the same charges at trial alongside Lynch, was also acquitted on all counts, the Lynch representative said. On the stand, the entrepreneur said he had been focused on tech issues, and entrusted money matters and the accounting decisions at issue to Sushovan Hussain, Autonomy’s then-chief financial officer. Hussain was separately convicted in 2018 at a trial in the same court on charges related to the deal with HP. HP largely won a civil lawsuit against Lynch and Hussain in London in 2022, though damages have not yet been decided.
Persons: Mike Lynch, Lynch, Stephen Chamberlain, Chamberlain schemed, , ” Lynch, Steve Jobs, Bill Gates, ” Abraham Simmons, , Leo Apotheker, Prosecutors, Chamberlain, Sushovan Hussain, Autonomy’s, Hussain Organizations: Hewlett, Packard, Autonomy, HP, United States, Cambridge University Locations: San Francisco, ” Cambridge, British, London
CNBC Daily Open: Nvidia pushes past $3 trillion
  + stars: | 2024-06-06 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia passes AppleArtificial intelligence chipmaker Nvidia surpassed the $3 trillion market capitalization mark, pushing past Apple to become the second most valuable company behind Microsoft. Baron backs Musk's pay dealBillionaire investor Ron Baron has publicly defended Elon Musk's controversial $56 billion Tesla pay package. Elliott retakes SoftBank stakeElliott Management, an activist investor, has taken a $2 billion stake in SoftBank and is pushing for a $15 billion share buyback. In 2020, at Elliott's urging, SoftBank launched a $20 billion share buyback and asset disposal program.
Persons: Ron Baron, Elon, Baron, Elliott retakes SoftBank, Elliott, SoftBank, Son's, Archer, Goldman Sachs Organizations: New York Stock Exchange, CNBC, Nvidia, Nasdaq, Hewlett Packard Enterprises, Dow Jones, Treasury, Apple, Microsoft, Baron Capital, Elliott Management, Electric, FAA, Archer Aviation, Federal Aviation Administration, United Airlines Locations: New York City, U.S, Tesla, Delaware, SoftBank, Elliott's
British tech pioneer Mike Lynch acquitted at U.S. fraud trial
  + stars: | 2024-06-06 | by ( ) www.cnbc.com   time to read: +3 min
Mike Lynch, former chief executive officer of Autonomy, arrives at federal court in San Francisco, California, US, on Monday, March 18, 2024. Representatives for Lynch and U.S. prosecutors said Lynch was acquitted on all 15 charges — one count of conspiracy, and 14 counts of wire fraud, each connected to specific transactions or communications. Former Autonomy finance executive Stephen Chamberlain, who faced the same charges at trial alongside Lynch, was also acquitted on all counts, the Lynch representative said. The trial where prosecutors said Lynch and Chamberlain schemed to inflate Autonomy's revenue was the latest chapter in a legal saga stemming from the failed deal. Lynch was one of the UK's leading tech entrepreneurs, drawing comparisons to Apple cofounder Steve Jobs and Microsoft cofounder Bill Gates.
Persons: Mike Lynch, Lynch, Stephen Chamberlain, Chamberlain schemed, Leo Apotheker, Prosecutors, Chamberlain, Sushovan Hussain, Autonomy's, Hussain, Steve Jobs, Bill Gates Organizations: Autonomy, Hewlett, Packard, Former Autonomy, HP, Cambridge University, Cambridge Locations: San Francisco , California, San Francisco, U.S, British, London
Mike Lynch, a British software mogul who was once one of his country’s most celebrated chief executives, was acquitted of fraud on Thursday in San Francisco federal court, clearing him of charges that he had led one of the biggest frauds in the technology industry. A jury found him not guilty of falsely inflating revenue at Autonomy, the company he founded and led, when he sold it to Hewlett-Packard for $11 billion in 2011. Mr. Lynch, 58, who faced decades in prison, had initially been charged with 16 counts of fraud and conspiracy, though one fraud charge was eventually dismissed. Thursday’s verdict, coming after a monthslong trial in California, is a milestone in Mr. Lynch’s decade-long odyssey to clear his name.
Persons: Mike Lynch, Lynch Organizations: Autonomy, Hewlett, Packard, Mr Locations: British, San Francisco federal, California
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. The tech-heavy Nasdaq was the star of the show Wednesday, surging more than 1.5% on the back of Nvidia 's march to a $3 trillion market value. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Eaton, Gamble, Wednesday's, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Federal Reserve, Treasury, Nvidia, Hewlett Packard Enterprise, Dell Technologies, Broadcom, Apple, Costco, Constellation Brands, Proctor, Jim Cramer's Charitable Locations: U.S, Dover
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "Remarkable quarter," Jim Cramer said, adding: "I think the stock can take out its high" of roughly $351 a share set in May. The CNBC Investing Club owns cybersecurity rival Palo Alto Networks . They will integrate Nvidia into your company, and that is, of course, the promised land," Cramer said. Dollar Tree : Shares dropped more than 4% after the retailer reported earnings and confirmed it's exploring options of its Family Dollar brand of stores.
Persons: Jim Cramer's, Jim Cramer, Cramer, Campbell, Gordon Haskett Organizations: CNBC, Club, CrowdStrike's, CNBC Investing Club, Palo Alto Networks, Hewlett Packard Enterprise, Nvidia
CNBC's Jim Cramer on Wednesday explained to investors how Nvidia can sometimes boost other stocks when it soars. He added that companies involved in every aspect of building data centers saw gains, from energy outfits to semiconductor manufacturers. "I know that Nvidia's stock accounts for one-third of the S&P 500's rally this year, so it's easy to say it has outsized influence," Cramer said. "But as a formerly decent bowler before I hurt my elbow, I'll tell you that I've never seen, ever seen anything like this. Every time Nvidia hits the head pin, it's strike after strike after strike."
Persons: CNBC's Jim Cramer, Cramer, Hewlett Packard, I've Organizations: Nvidia, Nasdaq, Apple
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWednesday’s rapid fire: CrowdStrike, Hewlett Packard Enterprise, Dollar Tree, Campbell Soup and InstacartCNBC’s Jim Cramer on Wednesday discussed the earnings reports of companies such as CrowdStrike and dealmaking headlines around Dollar Tree.
Persons: Campbell, Instacart CNBC’s Jim Cramer Organizations: Hewlett Packard Enterprise
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Hewlett Packard Enterprise, Campbell Soup & LululemonBoris Schlossberg, BK Asset Management managing director of FX strategy, joins 'Power Lunch' to discuss plays for three stocks, including Hewlett Packard, Campbell Soup, and Lululemon.
Persons: Campbell, Boris Schlossberg, Hewlett Packard, Campbell Soup Organizations: Hewlett Packard Enterprise, BK Asset Management
Hewlett Packard Enterprise — The technology stock climbed 15% after Hewlett Packard reported stronger-than-expected results for its fiscal second quarter. Dollar Tree — The discount retailer slipped 2% after reporting first-quarter results that were in line with analysts' expectations, according to LSEG. PVH — Shares slipped more than 1% after the luxury clothing brand owner announced that Martijn Hagman, CEO of Tommy Hilfiger Global and PVH Europe, would be leaving the company. PVH also reported a first-quarter earnings and revenue beat and raised its full-year earnings guidance. Instacart — Shares of the e-commerce company rose nearly 2% after an upgrade to buy from hold at research firm Gordon Haskett.
Persons: CrowdStrike, LSEG, Hewlett Packard, Rick Dreiling, PVH, Martijn Hagman, Tommy Hilfiger, Nio, Roaring Kitty, Tom O'Malley, Gordon Haskett, Hanesbrands, , Jesse Pound Organizations: Hewlett Packard Enterprise, PVH, Reuters, AMC Entertainment, GameStop, Materials, KLA, Barclays, Taiwan Semiconductor Manufacturing, Authentic Brands Locations: PVH Europe, China
Check out the companies making headlines in midday trading: CrowdStrike — The cybersecurity company popped 9% after posting a strong outlook and a first-quarter results beat. Dollar Tree — Shares of the discount retailer fell more than 4% after second-quarter guidance came in below expectations. Dollar Tree said it expected between $1 and $1.10 in adjusted earnings per share, while analysts surveyed by FactSet had penciled in $1.19 per share. Verint reported adjusted earnings of 59 cents per share on revenue of $221.3 million in the first quarter. Analysts surveyed by LSEG had anticipated just 54 cents in earnings per share and $214.5 million in revenue.
Persons: CrowdStrike, LSEG, FactSet, Kerrisdale, Brown, Forman, Verint, Tommy Hilfiger, PVH, Fadi Chamoun, Goldman Sachs, Goldman, KeyBanc, Lisa Kailai Han, Pia Singh, Yun Li, Sean Conlon, Jesse Pound, Samantha Subin Organizations: Hewlett Packard Enterprise, GameStop, AMC, Kerrisdale, FactSet, SAP, Archer Aviation, Federal Aviation Administration, Systems, Materials, KLA, Barclays, Taiwan Semiconductor Manufacturing, Authentic Brands, Old Dominion, BMO Capital Markets, Nvidia, America's, Jazz Pharmaceuticals Locations: China
Cramer’s Stop Trading: HP Enterprise
  + stars: | 2024-06-05 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer’s Stop Trading: HP EnterpriseCNBC’s Jim Cramer explains why he is keeping an eye on shares of Hewlett Packard Enterprise.
Persons: Jim Cramer Organizations: HP Enterprise, Hewlett Packard Enterprise
AdvertisementThe media giant, which owns Paramount Pictures and CBS, has been in the news as an acquisition target since late last year. Skydance might not be as recognizable a name, but the company's owner and CEO David Ellison is. It's "is Paramount big enough to survive on its own?" The rush to corner the market on data centers is a move by Big Tech to secure the keys to the coming AI kingdom. Big Tech, finance, and consulting jobs are becoming harder to come by, upending the job search for young people.
Persons: , Donald Trump, Rebecca Zisser, Warner, David Zaslav, Byron Allen, David Ellison, Larry Ellison, he's, Phillip Faraone, Peter Kafka, That's, Larry Ellison's, Alyssa Powell, Savita Subramanian, Gary Shilling, Kitty, Keith Gill, Arif Qazi, Jason Zander, they'll, Apple's, Siri, Dominic Bugatto, that's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith Organizations: Service, Paramount, Business, Paramount Pictures, CBS, RedBird Capital Partners, KKR, Warner Bros . Discovery, Sony, Hollywood, Getty, Tech, Bank of America, Wall Street, GameStop, Google, Microsoft, Big Tech, BI, Washington Post, Hewlett Packard Enterprise Locations: China, India, Texas, New York, London
Hewlett Packard Enterprise — The technology stock rallied about 11% on the back of a stronger-than-predicted financial report for the fiscal second quarter. Hewlett Packard Enterprise reported adjusted earnings of 42 cents per share on revenue of $7.2 billion. Analysts surveyed by LSEG had penciled in just 39 cents in earnings per share and $6.82 billion in revenue. Verint Systems saw 59 cents in adjusted earnings per share and $221.3 million in revenue for the first quarter. Analysts forecast earnings of 54 cents per share and $214.5 million of revenue, per LSEG.
Persons: CrowdStrike, LSEG, Guidewire, Darla Mercado Organizations: LSEG, Hewlett Packard Enterprise, Systems, Verint Systems, FactSet
Stock futures are near flat Tuesday night as investors geared up for private payroll data while analyzing the latest corporate earnings. S&P 500 futures and Nasdaq 100 futures also each rose just around 0.1%. "Upcoming labor market releases are a clear focus for the broad market," said Bill Northey, investment director at U.S. Bank Wealth Management. "Investors are eyeing the most recent readings on labor market health — JOLTS today, the ADP survey tomorrow and the [Bureau of Labor Statistics] labor report on Friday. All are important data points from a monetary policy standpoint."
Persons: CrowdStrike, Dow, , Dow Jones, Bill Northey, Lululemon Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Hewlett Packard Enterprise, Federal Reserve, ADP, Traders, U.S, Bank Wealth Management, of Labor Statistics
Just ask Ross Stores: America’s largest off-price retailer reported earnings and revenue that beat analysts’ forecasts last week. The US Labor Department releases April figures on job openings, quits, hires and layoffs. The US Commerce Department releases April figures on new orders for manufactured goods. The US Commerce Department releases April data on exports and imports. Friday: The US Labor Department releases May data gauging the state of the job market, including monthly payroll growth, wage gains and the unemployment rate.
Persons: Ross, , ” Adam Orvos, ” TJX, TJ Maxx, LVMH Moët Hennessy Louis Vuitton, ” Clayton Allison, Allison, ” Allison, Brown Forman, Campbell Organizations: CNN Business, Bell, Washington CNN, Companies, Ross Stores, Marshalls, Burberry, Prime Capital Investment Advisors, CNN, Walmart, P Global, Institute for Supply Management, CrowdStrike, Hewlett Packard Enterprise, Body, US Labor Department, US Commerce Department, Bank of Canada, Autodesk, Smucker, DocuSign, Vail Resorts, European Central Bank Locations: Washington, North America, Europe, Australia, Americas, Zumiez
In this way, the nonfarm payroll report also offers clues on the near-term path of inflation. As always, payroll processing firm ADP will release its May private-sector jobs report before the government's nonfarm payroll report. On Tuesday, we'll get the latest JOLTS data, shorthand for the Job Openings and Labor Turnover Survey conducted by the Labor Department. Earnings A few noteworthy earnings reports set for next week include CrowdStrike and Hewlett Packard Enterprise after the close on Tuesday. A report released by the Bureau of Labor Statistics showed the US economy added 311,000 jobs in February.
Persons: industrials, Eaton, Locker, Salesforce, we've, FactSet, Dow Jones, we'll, Ferguson, OLLI, Campbell Soup, Brown, Forman, LULU, JM Smucker, Jim Cramer's, Jim Cramer, Jim, Joe Raedle Organizations: Nasdaq, Dow Jones, Federal, Energy, Coterra Energy, Palo Alto Networks, Broadcom, Microsoft, Costco, Labor, Labor Department, Institute for Supply, Hewlett Packard Enterprise, Body, Donaldson Company, DCI, Brands, Natural Foods, THOR Industries, ABM Industries, Vail Resorts, MTN, NGL Energy, Jim Cramer's Charitable, CNBC, Bureau of Labor Statistics, Getty Locations: Chicago, Palo, U.S, Bath, Toro, Miami , Florida
CNBC's Jim Cramer on Friday told investors what to pay attention to next week on Wall Street, highlighting the nonfarm payroll report and earnings from GitlLab and CrowdStrike . Cramer said he's waiting to see how the company will perform because some in the enterprise software sector see issues with sales. Tuesday brings quarterly results from CrowdStrike, and Cramer said this cybersecurity company has been doing better than many of its peers. Friday brings perhaps the most important event of the week, according to Cramer, the Labor Department's nonfarm payroll report. Cramer said the Federal Reserve won't be inclined to cut rates until the unemployment rate reaches 4%.
Persons: CNBC's Jim Cramer, Cramer, he's, Hewlett Packard, Ferguson, PVH, Calvin Klein, Tommy Hilfiger, Ralph Lauren, Campbell Soup, Jack Daniels, Brown, Forman, Lululemon, JM Smucker, Smucker Organizations: Dell, athleisure, Labor
Nvidia is the key to how stocks will perform in the next few months as investors head into a seasonally weak period for markets, with the macroeconomic picture once again a center of attention. Stocks capped a winning month in May after a strong earnings season and signs of easing inflation buoyed investor optimism. .VIX YTD mountain CBOE Volatility Index In fact, the CBOE Volatility Index, known as Wall Street's fear gauge, is currently at 14. The broad market index was last around 5,220. Traders will have to rely on macroeconomic data for the next several weeks, including the May jobs report that's on deck next Friday.
Persons: Stocks, what's, Olivier Sarfati, Sarfati, Jensen Huang's, Josh Brown, Jonathan Krinsky, Jeff deGraff, CNBC's, deGraff, Rob Ginsberg, JC O'Hara, Roth, Dow Jones, Thomas Urano, Jobs, Cook Organizations: Nvidia, Nasdaq, Dow Jones, Ritholtz Wealth, Semiconductors, VanEck Semiconductor, Macro, Wolfe Research, Advisory, PMI, Manufacturing, Hewlett Packard Enterprise, Body, Services PMI, Labor, Girls Global, University of, District of Columbia, Consumer Credit Locations: Smucker, Washington
Here are the biggest calls on Wall Street on Tuesday: Morgan Stanley reiterates Tesla as overweight Morgan Stanley made the case in a note to investors that Elon Musk needs Tesla "more than ever before." Citi initiates Ferrovial at buy Citi said it's bullish on shares of the Dutch infrastructure and transportation company. Citi reiterates Dell as buy Citi raised its price target on the stock by 36% to $170 per share from $125. Morgan Stanley reiterates Apple as overweight Morgan Stanley said its checks show accelerating App Store growth ahead of expectations for Apple. Morgan Stanley names Taiwan Semiconductor a catalyst-driven idea Morgan Stanley said TSM is a likely beneficiary of a solid Nvidia earnings report on Wednesday.
Persons: Morgan Stanley, Tesla, Elon, Raymond James, Baird, it's, Evercore, Piper Sandler downgrades Sunnova, Piper, Brinker, Argus, Apple, TSM, NVDA, it's bullish, Lenz, LENZ Organizations: Elon, Caesars Entertainment, Penn, Penn Entertainment, Boyd Gaming Corporation, Inc, PENN Entertainment, JPMorgan, Therapeutics, Citi, Nvidia, Sunnova, Disney, Dell, Barclays, HP, Brinker International Inc, Apple, Taiwan Semiconductor, Gap Citi, GPS, " Bank of America, Lenz Therapeutics, Bank of America, Deutsche Bank, Deutsche, Recovery Software
Read previewFor working mothers, it can sometimes feel like even when there's good news, there's also bad news. Just this week, several stories drove home some of the things that parents and working women already have sensed. But it's a good signal for working moms. The chart shows that since 2015, the percentage of women working across all those groups has gone up in the last 10 years. It's that same mix for the state of working moms — not all good, but not all bad.
Persons: , there's, Emily McCrary, Ruiz, Esparza, Hewlett Packard, That's, it's, Rachel M, Cohen Organizations: Service, Business, Hewlett, Bloomberg, Free, New York Times Reading
Fewer women apply for 6-figure positionsAccording to iCIMS's analysis, women have made up 41% to 44% of applicants for six-figure jobs across Asia, Europe, the Middle East, South America, and the US since 2020. In other words, though they constitute less than half of applications for six-figure jobs, they are often hired for more than half of those jobs. "The fact that they are applying for these six-figure jobs does not imply that the gender pay gap is narrowing," says Njuki. "This would require a comparison between the women in those six-figure jobs and the men in those six-figure jobs." "A big reason for the gender pay gap is not enough women in the higher-paid managerial and leadership positions.
Persons: , Hewlett Packard, Jemimah Njuki, Yana Rodgers, Rodgers, Njuki, It's Organizations: Service, Business, Vanguard, Hewlett, UN, Center for Women, Rutgers University, McKinsey Locations: Asia, Europe, East, South America, United States
Stock Chart Icon Stock chart icon The Dow, all-timeThe average was created by Charles Dow in 1896 with just 12 industrial stocks. Paired with the Dow Jones Transportation Average , the two were collectively meant to offer a gauge for the broader economy. The sole caveat: No utility or transportation stocks are included, given the existence of the Dow Jones Utility Average and Transportation Average. 1972: Dow hits 1,000It may be hard to imagine given the recent achievement, but the Dow traded below 1,000 until the early 1970s. The Dow saw its worst year since 2008 in 2022, though 2023's rebound allowed the index to erase those losses.
Persons: Spencer Platt, Dow, Charles Dow, There's, Richard Nixon, Alcoa Esmark, Du Pont, Dow didn't, Walt Disney, Eastman Kodak Merck Alcoa ExxonMobil Phillip Morris, T General Motors Sears, Morgan, Phillip Morris, Walmart Du Pont J.P, Morgan Chase Walt, Donald Trump, General Electric Nike American Express Goldman Sachs, Morgan Chase, Johnson, Joe Biden, Trump, Goldman Sachs, Gamble Amgen, Organizations: New York Stock Exchange, Getty, Dow Jones, Dow Jones Transportation, P Global, Dow, CNBC, General Foods, Harvester, Chevron, Procter, Gamble, Alcoa, Manville, ExxonMobil, Illinois Glass American Tobacco General Electric Procter, General Foods Sears Roebuck AT, T General Motors Texaco Bethlehem Steel, T General Motors Texaco Bethlehem Steel Goodyear Union Carbide Chevron Honeywell United Technologies Chrysler International Harvester US, Nickel Westinghouse Electric Eastman Kodak International, Woolworth, Oasis, Eastman Kodak Merck Alcoa ExxonMobil, Express General Electric Procter, Gamble AT, T General Motors, T General Motors Sears Roebuck Bethlehem Steel Goodyear Texaco Boeing Honeywell Union Carbide Caterpillar IBM United Technologies Chevron International, Walt Disney, Morgan Chase Westinghouse, Apple, Microsoft, Sears and Union Carbide, Eastman Kodak Johnson, Johnson Alcoa ExxonMobil, American Express General Electric Merck AT, T, Goodyear Procter & Gamble Caterpillar Hewlett, Packard Sears, Chevron Honeywell Union Carbide Citigroup IBM United Technologies, Walmart, Morgan Chase Walt Disney, Visa, Travelers, Nike, General Electric Nike American Express, General Electric Nike American Express Goldman Sachs Pfizer Apple Home Depot Procter, Gamble Boeing IBM Travelers Caterpillar Intel United Technologies Chevron, Morgan Chase UnitedHealth, Cisco Systems Johnson, Johnson Verizon, Cola McDonald’s, Du Pont Merck Walmart ExxonMobil Microsoft Corporation Walt Disney, Exxon Mobil, Walgreens Boots Alliance, Goldman Sachs Nike American Express Home Depot Procter, Gamble Amgen Honeywell, Apple Intel Travelers Cos Boeing IBM, Caterpillar Johnson, Johnson Verizon Chevron, Cisco Systems, Walgreens, Alliance Coca Cola Merck Walmart Dow Microsoft Walt Disney Locations: New York City, T General Motors Texaco Bethlehem Steel Goodyear, America
Dell is seeing accelerating momentum, especially in winning business to build AI servers, unlocking a new bull case for the stock, Morgan Stanley analyst Erik Woodring wrote in a note on Wednesday. "All-in, we are hearing about more AI server momentum at Dell than at any other OEM," Woodring wrote, saying that he expected about $10 billion of AI server revenue in the company's fiscal 2025 — ending next February. Most AI servers are built around Nvidia's chips which have become prized in the technology industry because they are used to build and deploy advanced AI models from companies like Google , OpenAI and Meta . Dell sells servers using the newest Nvidia AI chips, including its H100 GPU and the latest Blackwell-generation chips. But the PC industry is on course to grow again and is outperforming lowered expectations, Woodring wrote, which will benefit Dell.
Persons: Michael Dell, Morgan Stanley, Erik Woodring, Woodring, Wednesday's, Jensen Huang, Huang, Michael, Dell Organizations: Dell Technologies, Mobile, Dell, Hewlett Packard Enterprise, Google, Meta, Blackwell, Nvidia, Microsoft Locations: Barcelona, Spain
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