Technology

Nvidia, Chip Stocks Could Hit an Air Pocket Soon, Says Analyst — Barrons.com

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Angela Palumbo Investors have been busy buying up chip stocks with exposure to generative artificial intelligence, but one Mizuho analyst sees near-term risk to this big boom in semiconductor-stock prices. Mizuho analyst Jordan Klein wrote in a research note Thursday that he is “starting to actually get worried,” about the persistent gains of chip stocks, specifically citing Nvidia, Broadcom, and Marvel Technology. “Stocks do not only go up, and this current investor mentality which feels nearing a frenzy to get more and more Semi exposure with sell-side targets going higher and higher starts to remind me of 1999 into early 2000 across Tech,” Klein wrote. Nvidia stock has surged 290% in the last 12 months, and consistently continues to hit new highs. The gain may be warranted, though. The company reported fiscal 2024 revenue of $60.9 billion in February, a 126% increase from the prior year. Chief Financial Officer Colette

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Heard on the Street: Apple Investors Are Getting More Worried — WSJ

/ / Technology /

By Dan Gallagher Much remains to be seen about how Europes new Digital Markets Act will actually impact Apples business. But the timing for the iPhone maker could hardly be worse. The new law, which goes into effect on Thursday ( requires Apple, Google and other operators of digital platforms to allow third-party app stores ( and alternative payment options on those platforms. Its a major change for Apple, which has practiced a closed-ecosystem ( approach since launching its first iPhone in 2007. Apple announced a series of changes ( in late January to its App Store for the European market to comply with the new rules, though those changes are proving highly controversial in their own righteven sparking a new battle ( with longtime nemesis Epic Games. Those changes come as Apple is facing worries ( about another weak iPhone cycle ( and the health of its business in

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Adobe Systems May See Solid Growth, Moderate Upside to Estimates in Fiscal Q1, Oppenheimer Says

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Adobe Systems (ADBE) is expected to report solid growth and a moderate upside to estimates in fiscal Q1, Oppenheimer said in a note to clients Thursday. The investment firm reiterated Adobe’s outperform rating, with a price target of $660. Adobe will report its fiscal Q1 results on March 14. Oppenheimer estimates revenue of $5.12 billion and pro-forma earnings of $4.37 per share. Analysts surveyed by Capital IQ expect revenue of $5.14 billion and normalized EPS of $4.38. “Our research mosaic points to modest upside to estimates, a stable operating environment, and consistent trends and momentum for Adobe’s business,” Oppenheimer analysts said. Adobe’s net new digital media annual recurring revenue is also expected to show a 7% beat to the fiscal Q1 guidance, according to the note. Rising concerns over competition due to strong product demonstrations by competitors in generative AI imaging and video generation should gradually ease for Adobe as

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MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results

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MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results PR Newswire NEW YORK, March 7, 2024 Fourth Quarter Fiscal 2024 Total Revenue of $458.0 million, up 27% Year-over-Year Full Year Fiscal 2024 Total Revenue of $1.68 billion, up 31% Year-over-Year Continued Strong Customer Growth with Over 47,800 Customers as of January 31, 2024 MongoDB Atlas Revenue up 34% Year-over-Year; 68% of Total Q4 Revenue NEW YORK, March 7, 2024 /PRNewswire/ — MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the fourth quarter and fiscal year ended January 31, 2024. “MongoDB finished fiscal 2024 on a strong note, highlighted by 34% Atlas revenue growth and operating margin improvement of nearly five percentage points year-over-year. We continue to see healthy new workload wins as MongoDB’s developer data platform increasingly becomes the standard for modern application development,” said Dev Ittycheria, President and Chief Executive Officer of MongoDB. “As

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DocuSign Announces Fourth Quarter and Fiscal Year 2024 Financial Results

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DocuSign Announces Fourth Quarter and Fiscal Year 2024 Financial Results PR Newswire SAN FRANCISCO, March 7, 2024 SAN FRANCISCO, March 7, 2024 /PRNewswire/ — DocuSign, Inc. (NASDAQ: DOCU), which offers the world’s #1 e-signature product as part of its industry leading lineup, today announced results for its fourth quarter and fiscal year ended January 31, 2024. “DocuSign ended Fiscal 2024 with momentum in product innovation, customer growth, and financial performance, including more than doubling free cash flow year-over-year,” said Allan Thygesen, CEO of DocuSign. “The agreement management opportunity is massive, and we’re excited to deliver category-defining innovation to our 1.5 million customers in Fiscal 2025 and beyond.” Fourth Quarter Financial Highlights — Total revenue was $712.4 million, an increase of 8% year-over-year. Subscription revenue was $695.7 million, an increase of 8% year-over-year. Professional services and other revenue was $16.7 million, an increase of 5% year-over-year. — Billings were $833.1 million,

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Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2024 Financial Results

/ / Technology /

Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2024 Financial Results PR Newswire SANTA CLARA, Calif., March 7, 2024 — Q4 Net Revenue: $1.427 billion, grew by 1% year-on-year — Q4 Gross Margin: 46.6% GAAP gross margin; 63.9% non-GAAP gross margin — Q4 Diluted income (loss) per share: $(0.45) GAAP diluted loss per share; $0.46 non-GAAP diluted income per share SANTA CLARA, Calif., March 7, 2024 /PRNewswire/ — Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the fourth fiscal quarter and fiscal year ended February 3, 2024. Net revenue for the fourth quarter of fiscal 2024 was $1.427 billion, above the mid-point of the Company’s guidance provided on November 30, 2023. GAAP net loss for the fourth quarter of fiscal 2024 was $(392.7) million, or $(0.45) per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2024 was

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Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion

/ / Technology /

Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion。

Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion Read Post »

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