While the Street worries about stagnant momentum in the memory markets and expects modest print and guide, we think the highlight of the call today could well be about MU breaking out of NVDA’s grip. Going into the 3FQ24 earnings event in June, we called a near-term top to MU’s fundamentals (link) and cut our […]
The Company filed an 8-k Friday after market close – the NASDAQ has granted its request for an extension for filing the necessary 10-K and 10-Q documents. The company has until 2/25/25 to file the documents and will remain listed on the exchange while it prepares the documents under the supervision of its newly appointed […]
In a disappointing presentation at an investor conference yesterday, the CFO, newly appointed as interim co-CEO, missed an opportunity to wipe the slate clean and start afresh. If, at the very least, Q4 guidance was reiterated, that would have been progress. But the vague language leaves investors guessing. Progress on 18A? Looks like the schedule […]
South Korea casts an outsized shadow on the global electronics supply chain. The shocking series of events in S Korea over the past 24 hours, a country known for its political stability, is sending shivers down the supply chain in Asia, already on edge due to the trade uncertainty radiating from the US. MU may […]
NVDA stock traded up ~20% since early October when the CEO started a media/Street campaign to message that Blackwell demand is ‘insane’ and that ‘everything’s on track’. With the stock close to its all-time high, we detect investor nervousness given that the valuation is leveraged to Blackwell, a future product cycle that has had trouble […]
Versus the muted expectations on the Street for near-term iPhone momentum, we are long into print. The Street is inundated with chatter of order cuts at iPhone16. We take a more nuanced view and look for upside to Street’s lowered expectations for Dec quarter. Our expectation for Dec upside is not based on a boost […]
An article in Digitimes highlights large-scale problems in Samsung logic foundry operations, not very surprising given the negative outlook from ASML last month. This piles on top of the series of negative comments outlined in Samsung’s earnings call last week – DRAM/NAND capacity adjustments to normalize inventory, ongoing slowdown in smartphones, lackluster progress in HBM3e. […]
A darling of Wall Street until just a few months ago, SMCI now finds itself in financial, regulatory and legal purgatory. When we took a negative view on the stock into the previous earnings call, we could not have anticipated accounting problems and the existential threat the Company now faces (link). Into the previous earnings […]
Semis had been sailing smoothly for a little over a month until yesterday when the sector ran into a spot of rough weather. Back-to-back squalls had the Street running for cover. Two separate headlines drove semis – ASML down 16% and NVDA down 4% dragged the sector down and forced the bulls to revisit their […]
Google hosted an event to roll out Gemini Nano powered applications on the just launched Pixel 9 smartphone. The full set of AI features to be made available in Android models to launch later this year. Quick summaryGoogle rolled out a series of small but significant improvements in existing Android features powered by Gemini Nano, […]