Technology

Bank of America Securities: Meta Platforms (NASDAQ:META) is on track to gain 12 million paid verified users

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Meta Platforms announced last weekend the launch of Meta Verified, a paid certified subscription service on Instagram and Facebook, for $11.99 per month. Research released Tuesday by Bank of America Securities reported that the new subscription service could gain nearly 12 million subscribers by 2024. Analysts believe Meta’s subscription service is meant to cater to celebrities and creators, not consumers. Analysts noted that considering the pricing of the newly launched subscription service, Meta could generate high-margin revenue of $1.7 billion in 2024. In addition, given a wider audience and more revenue opportunities for creators, analysts believe Meta is likely to outperform its peers in terms of subscribers as a percentage of users.

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Stifel: Raised Applied Materials (NASDAQ:AMAT) price target to $140 from $132 with maintaining Buy rating

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Stifel analyst Brian Chin raised its price target on Applied Materials (NASDAQ:AMAT) to $140 from $132 and maintained a buy rating after the company reported fiscal first-quarter earnings slightly above expectations, though a “surprising update” was that the company’s inventories were growing again month-over-month. Analysts believe that the company’s exposure to lagging WFE technology is significantly higher than average, which neither the company nor the industry has noticed, meaning that “the largest semiconductor company is expected to easily outperform the entire industry this year.”

Stifel: Raised Applied Materials (NASDAQ:AMAT) price target to $140 from $132 with maintaining Buy rating Read Post »

CEO of Qualcomm (NASDAQ:QCOM): Intelligent connected edge market has huge potential

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Qualcomm (NASDAQ:QCOM) President and CEO Amon said that the intelligent connected edge market has great potential. Over the next decade, the addressable market value is expected to increase sevenfold to $700 billion. From smartphones and wearables to tablets, PCs and extended reality (XR) terminals, from edge networks and automotive to industrial IoT for a wide range of use cases, Qualcomm is at the center of the vast opportunities presented by the intelligent connected edge.

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Micron Technology (Nasdaq:MU) 10% layoffs are expected to be completed by the end of this month

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Micron Technology (Nasdaq:MU), a memory chip maker and storage solution provider, announced layoffs late last year when it announced it would cut 10 percent of its workforce, and will remain cautious in spending in 2023 in anticipation of challenges in the semiconductor market. According to the layoffs announced at the time, Micron’s round of layoffs would affect nearly 5,000 employees, and Micron had about 48,000 employees worldwide at the time, and the layoffs would cost $30 million. According to the latest reports, the layoff plan announced by Micron last year is expected to be completed by the end of this month, and their employees will also be significantly reduced.

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