The Zacks Analyst Blog Highlights Apple, Broadcom, Caterpillar, Suncor Energy and STERIS
For Immediate Release
Chicago, IL – August 31, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple Inc. AAPL, Broadcom Inc. AVGO, Caterpillar Inc. CAT, Suncor Energy Inc. SU and STERIS plc STE.
Here are highlights from Wednesday’s Analyst Blog:
Top Research Reports for Apple, Broadcom and Caterpillar
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 12 major stocks, including Apple Inc., Broadcom Inc. and Caterpillar Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Apple's shares have outperformed the Zacks Computer - Mini computers industry over the year-to-date period (+42.3% vs. +42.0%). The company is benefiting from increasing customer engagement in the services segment. The expanding content portfolio of Apple TV+ and Apple Arcade, as well as the launch of its high-yield savings account with Apple Card, helped in driving subscriber growth.
Apple's results also benefited from strong growth in emerging markets and growing adoption among enterprises. Apple expects iPhone and Services' year-over-year growth to accelerate in the fiscal fourth-quarter as compared with the June quarter.
However, weak hardware demand for iPhone, iPad and Mac have declined sales. Revenues for both Mac and iPad are expected to decline by double digits on a year-over-year basis due to difficult comparison. Unfavorable forex is expected to hurt the top-line.
(You can read the full research report on Apple here >>>)
Shares of Broadcom have outperformed the Zacks Electronics - Semiconductors industry over the year-to-date period (+61.2% vs. +47.1%). The company is benefiting from strong deployment of generative AI by hyperscalers, service providers and enterprises. It expects generative AI to contribute more than 25% of semiconductor revenues in fiscal 2024 compared with an estimated 15% in fiscal 2023 and roughly 10% in fiscal 2022.
Strong demand for Tomahawk 5, Jericho, 10-gigabit PON and DOCSIS 3.1 with embedded Wi-Fi 6 and 6E aids Broadcom. Expanding portfolio with the launch of second-gen Wi-Fi 7 wireless connectivity chip is a catalyst. Broadcom expects networking revenues to grow nearly 20% year over year in the fiscal third quarter.
Server storage connectivity revenues are expected to be up low single digits year over year. Broadband revenues growth is expected in moderate to low-single-digit percent year over year.
(You can read the full research report on Broadcom here >>>)
Caterpillar's shares have outperformed the Zacks Manufacturing - Construction and Mining industry over the past six months (+13.8% vs. +12.6%). The company's revenues and earnings has grown year over year for nine straight quarters thanks to its cost-saving actions, strong end-market demand and pricing actions that offset the impact of the supply chain snarls and cost pressures.
The Construction Industries segment is expected to benefit from the rising construction activities in the United States and other parts of the world. Backed by demand for commodities fueled by the energy-transition trend, a thriving mining sector will aid the Resource Industries segment.
Its dividend yield and payout ratio are higher than its peers. A strong liquidity position, investments in expanding services and digital initiatives will help Caterpillar deliver outsized returns.
(You can read the full research report on Caterpillar here >>>)
Other noteworthy reports we are featuring today include Suncor Energy Inc. and STERIS plc.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Apple Inc. (AAPL) : Free Stock Analysis Report
Caterpillar Inc. (CAT) : Free Stock Analysis Report
Suncor Energy Inc. (SU) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
STERIS plc (STE) : Free Stock Analysis Report
