The Zacks Analyst Blog Highlights Broadcom, Intuit, Intuitive Surgical, Shopify and Intercontinental Exchange
For Immediate Release
Chicago, IL – July 14, 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: Broadcom Inc. AVGO, Intuit Inc. INTU, Intuitive Surgical, Inc. ISRG, Shopify Inc. SHOP and Intercontinental Exchange, Inc. ICE.
Here are highlights from Thursday’s Analyst Blog:
Top Research Reports for Broadcom, Intuit and Interactive Surgical
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Broadcom Inc., Intuit Inc. and Intuitive Surgical, 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 >>>
Broadcom shares have outperformed the Zacks Electronics - Semiconductors industry over the past year (+90.3% vs. +66.2%). 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.
However, 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 >>>)
Shares of Intuit have gained +26.5% over the past year against the Zacks Computer - Software industry's gain of +37.4%. The company is benefiting from strong momentum in online ecosystem revenues and solid professional tax revenues.
The TurboTax Live offering is also driving growth in the Consumer tax business. Solid momentum in the company's lending product, QuickBooks Capital, remains a positive. Moreover, the company's strategy of shifting its business to cloud-based subscription model will help generate stable revenues over the long run.
However, macroeconomic and geopolitical headwinds might significantly hurt small businesses operations, thereby posing risks for Intuit's top-line growth. Additionally, higher costs and expenses due to increased investments in marketing and engineering teams are likely to continue impacting bottom-line results in the near term.
(You can read the full research report on Intuit here >>>)
Intuitive Surgical shares have outperformed the Zacks Medical - Instruments industry over the past year (+70.1% vs. +16.8%) reflecting the company's solid operating momentum. The company reported encouraging first-quarter results, wherein earnings and revenues beat estimates. The da Vinci procedure volume continued its recovering trend of 2022 into the first quarter of 2023, which is likely to persist for the rest of the year.
Improving procedure volume along with better system placements and services across all markets will drive top-line growth in 2023. Intuitive Surgical witnessed healthy customer demand for its products in the quarter under review. Its Ion platform has strong growth potential. A stable liquidity position is an added plus.
However, higher component and labor costs, and a strong U.S. dollar continues to hurt gross margin. Stiff competition in the global MedTech space and rising costs remain concerns for Intuitive Surgical.
(You can read the full research report on Intuitive Surgical here >>>)
Other noteworthy reports we are featuring today include Shopify Inc. and Intercontinental Exchange, Inc..
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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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Intercontinental Exchange Inc. (ICE) : Free Stock Analysis Report
Intuitive Surgical, Inc. (ISRG) : Free Stock Analysis Report
Intuit Inc. (INTU) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
Shopify Inc. (SHOP) : Free Stock Analysis Report
