|Bid||51.73 x 1800|
|Ask||51.74 x 3200|
|Day's Range||51.01 - 51.79|
|52 Week Range||34.25 - 57.60|
|PE Ratio (TTM)||22.44|
|Earnings Date||Jul 26, 2018|
|Forward Dividend & Yield||1.20 (2.31%)|
|1y Target Est||58.87|
Here are some things going on today in the world of tech: Debating Those Ugly Netflix Numbers The Faang gang of stocks got a wobbly opening but is now solidly in the green, with Amazon.com (AMZN), Alphabet (GOOGL), and Facebook (FB) all rising. Netflix (NFLX), the proximate cause of the pain, is down $27.39, or almost 7%, to $373.09, which is something of a victory given it’s only half the decline the stock saw last night, after Netflix missed its own targets for net subscriber additions, and put expectations for more subscribers this quarter below consensus. The comments of management on the company’s video Q&A following the report is not exactly encouraging.
Many analysts expressed dismay at Broadcom’s (AVGO) decision to acquire software company CA Technologies. Investors dumped Broadcom on the acquisition news, leading the stock to deliver its worst one-day performance ever. From Raymond James analysts to Nomura Instinet analysts, many have cast doubts on Broadcom’s purchase of CA, saying the company has risked confusing investors about its strategy.
Over the last two years, Advanced Micro Devices (AMD) succeeded in winning some market share from NVIDIA (NVDA) and Intel (INTC) in the discrete GPU (graphics processing unit) and PC CPU (central processing unit) market. One year back, AMD re-entered the server CPU market, where Intel holds more than a 99% share. This is a difficult market, as a lengthy qualification process, Intel’s monopoly, and large investment requirements pose major entry barriers. Many server CPU makers like Cavium (CAVM) launched ARM-based server CPUs but were unable to beat Intel.
Shares of chipmaker Advanced Micro Devices Inc. ( AMD) have rallied on a bullish note from one team of analysts who sees a positive earnings surprise in store for the Santa Clara, California-based company. AMD stock gained nearly 2% on Monday after popping 5% on Friday to reach its highest level in 10 months. On Friday, Stifel analyst Kevin Cassidy, who rates AMD at buy, increased his 12 month price target on the stock from $17 to $21, representing a nearly 27% upside from Monday close. He cited strength in AMD's EPYC server CPU business, which he wrote is "winning server designs." He expects the model to gain traction ahead of consensus expectations for 5% unit market share exiting the the fourth quarter of 2018.
Avid Bioservices, Mellanox, Berkshire Hathaway, Intel and Chevron highlighted as Zacks Bull and Bear of the Day
Evercore ISI lowers its rating to in line from outperform for Intel shares, saying the search for the company's next CEO will add to investor uncertainty. Last month Intel announced the resignation of its CEO Brian Krzanich for his alleged infraction of the company's nonfraternization policy stemming from a consensual relationship. The firm's analyst also notes Intel’s problems in moving to its next-generation chip manufacturing technology versus its competitors.
Credit Suisse analyst John Pitzer reiterated his upbeat view of Micron Technology Inc. (mu) on Tuesday, after the company issued a announcement with Intel Corp. (intc) regarding their 3D XPoint arrangement. The companies said that they have agreed to complete development of the second generation of 3D XPoint technology by the first half of next year, and that they would work independently on technology development beyond the second generation.
Qualcomm’s (QCOM) data center business restructuring seems to be deeper than previously realized. Last month, Qualcomm president Cristiano Amon said the company was not exiting the data center chip market as had been speculated, adding that the business was being restructured to minimize costs. Changes were said to include reducing the size of its data center team and grouping the unit in the division focused on building chips for mobile phones.
Technology stocks are set to open in the red on Tuesday. The Invesco QQQ Trust, an exchange-traded fund that tracks the 100 largest stocks in the tech-heavy Nasdaq Composite, fell 0.89% in pre-market trading. Netflix Inc. ( NFLX) was mainly to blame for these losses, posting weaker-than-expected subscriber growth shortly after the final bell rung on Monday. The video streaming giant’s share price, one of the strongest risers so far this year, plunged 11.68% in pre-market trading.
Micron (MU) and Intel today announced an update to their 3D XPoint™ joint development partnership, which has resulted in the development of an entirely new class of non-volatile memory with dramatically lower latency and exponentially greater endurance than NAND memory. The companies have agreed to complete joint development for the second generation of 3D XPoint technology, which is expected to occur in the first half of 2019. Technology development beyond the second generation of 3D XPoint technology will be pursued independently by the two companies in order to optimize the technology for their respective product and business needs.
As cryptocurrencies have continued to grow in popularity (even in spite of diminished prices in 2018), it may be only a matter of time before major companies across the country launch their own unique digital currency offerings. A unique corporate cryptocurrency could have numerous benefits, including increasing the likelihood of customer access to a better product, the building of brand loyalty, and more. Crypto Daily highlights a hypothetical digital currency launch by a company like Coca Cola ( KO).
While the fears of the looming trade war between two of the world’s leading economies, the U.S. and China, have been making headlines for quite some time, U.S. tech giants have largely stayed out of the fight. Many tech industry leaders have expressed disappointment over Trump’s policies on environment and immigration, but they have abstained from making comments on tariff policy. In fact, Silicon Valley has supported the administration on the issues of intellectual property theft and local trade barriers like those erected by China for its local technology companies.
Facebook is beefing up its in-house chip ambitions, snagging one of Google’s senior directors of engineering to serve as the company’s new "Head of Silicon."
In the Global Week Ahead, stock traders will focus upon a raft of early second quarter earnings reports. Zacks Chief Strategist John Blank ranks five headlines in order of importance for equities.
NEW YORK, NY / ACCESSWIRE / July 16, 2018 / U.S. equities closed up on Friday and posted its 2nd consecutive weekly gain, as investors continue to focus on a strong start to the earnings season. While ...
Benzinga featured looks at many investor favorite stocks over the past week. Bullish calls included a number of leading tech stocks. Bearish calls included retailers and a newly minted merger. The new ...
As a prelude to the company’s 50th anniversary this year, Intel Corp. will light the sky above Folsom with choreographed, lighted drones.
There were seven fundings, four M&A deals and a venture partner promotion disclosed at the end of the week in the Bay Area. Here are the details.