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INTC

Intel

$56.40

0.13 (0.23%)

, AAPL

Apple

$199.00

-0.21 (-0.11%)

08:19
04/17/19
04/17
08:19
04/17/19
08:19

Intel's plans to exit 5G Modem business not impacting 2019 outlook, says KeyBanc

KeyBanc analyst Weston Twigg says that on the heels of the Apple (AAPL)/Qualcomm (QCOM) deal, Intel (INTC) announced that it plans to exit the 5G smartphone modem business, which was originally expected to ramp in 2020 but was likely running behind schedule. The analyst believes that continued investment in its low-margin modem business made "little strategic sense" amid fab capacity constraints. Twigg does not expect this to impact Intel's 2019 outlook, though it is possible that it could improve the company's longer-term revenue and margin profile.

INTC

Intel

$56.40

0.13 (0.23%)

AAPL

Apple

$199.00

-0.21 (-0.11%)

QCOM

Qualcomm

$74.25

17.06 (29.83%)

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INTC Intel
$56.40

0.13 (0.23%)

04/05/19
04/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Market Perform from Outperform at Wells Fargo with analyst Aaron Rakers saying the shares, after rallying 19% year-to-date, reflect a more balanced risk/reward. 2. Boston Beer (SAM) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying she sees headwinds in 2019 as competition intensifies and the company is "unlikely to repeat its innovation success again this year." 3. Ford (F) downgraded to Reduce from Neutral at Nomura Instinet with analyst Anindya Das saying Ford's higher share of the U.K. auto market compared to the rest of Europe makes it more susceptible to Brexit risks. 4. Constellation Brands (STZ) downgraded to Hold from Buy at Deutsche Bank. 5. International Paper (IP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Paul Quinn saying while International Paper is a "great company," investors have increased scrutiny on the containerboard market due to the "softening demand and fears of incremental capacity coming online" as year-to-date shipment growth slowed to 0.8% from 1.5% in 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/08/19
BOFA
04/08/19
NO CHANGE
Target $35
BOFA
Buy
AMD price target raised to $35 from $30 at BofA/Merrill
BofA/Merrill analyst Vivek Arya raised his price target on AMD (AMD) to $35 and kept his Buy rating, also raising his FY20 EPS view by 10% to $1.10. The analyst cites the availability of new products given the second half of 2019 ramp of new EPYC-2 server, reduced costs, and the potential for more benign price competition, "with key rival Intel's (INTC) stable pricing of new Cascade Lake server products."
04/10/19
DADA
04/10/19
NO CHANGE
Target $21
DADA
Buy
FormFactor price target raised to $21 from $18 at DA Davidson
DA Davidson analyst Thomas Diffely raised his price target on FormFactor (FORM) to $21 and kept his Buy rating after meeting with its management at an investor event last week. The analyst says investors were "pleasantly surprised" by the stability of the company's "design driven model" during industry slowdowns, adding that he sees FormFactor's "unique business drivers" being "larger then expected". Diffely further cites a potential revenue recovery at Intel (INTC), continued revenue growth at TSMC (TSM), and ramping activity from 5G and photonic" markets in concluding that FormFactor's growth prospects look "increasingly bullish".
04/17/19
FBCO
04/17/19
NO CHANGE
Target $58
FBCO
Outperform
Meaningful share loss for Intel in 2020 after Apple, Qualcomm settlement, says Credit Suisse
Credit Suisse analyst John Pitzer notes that Qualcomm (QCOM) and Apple (AAPL) reported that they have settled their royalty dispute, following a roughly two-year legal battle that began in early 2017 - and resulted in Intel (INTC) gaining about 50% share in new iPhone SKUs in 2017 and 100% share of new SKUs in 2018. While the analyst sees little risk to Intel's CY19 Apple Revenue as modem sockets are determined 9-12 months in advance, he sees the potential for meaningful share loss in 2020 especially in the second half of the year as Apple ramps 5G SKUs. Pitzer reiterates an Outperform rating and a $58 price target on Intel shares.
AAPL Apple
$199.00

-0.21 (-0.11%)

04/17/19
ADAM
04/17/19
NO CHANGE
Target $89
ADAM
Buy
Qualcomm price target raised to $89 from $75 at Canaccord
Canaccord analyst T. Michael Walkley reiterated a Buy rating on Qualcomm (QCOM) and increased his price target to $89 from $75 after the company reached a settlement with Apple (AAPL) that dismissed all worldwide litigation. In a research note to investors, Walkley says he assumes Qualcomm will start supplying 5G modems for future iPhone generations with sales beginning to ramp in 4Q20. He also notes that the licensing deal between the companies is a device-level licensing deal, which he thinks protects QUalcomm's long-term licensing business model.
04/17/19
OPCO
04/17/19
NO CHANGE
Target $410
OPCO
Outperform
Netflix price target lowered to $410 from $425 at Oppenheimer
Oppenheimer analyst Jason Helfstein lowered his price target for Netflix (NFLX) to $410 from $425 on modestly weaker FY19/20 subscriber outlook, partially offset by higher APRU. The analyst notes that despite new competitive entrants, such as Apple (AAPL) and Disney (DIS), Netflix cites potential for further upside with only 2% of global downstream mobile internet traffic versus 10% peak viewing share in U.S. He reiterates an Outperform rating on Netflix's shares.
04/17/19
ARGS
04/17/19
NO CHANGE
Target $95
ARGS
Qualcomm price target raised to $95 from $85 at Argus
Argus analyst Jim Kelleher raised his price target on Qualcomm (QCOM) to $95 and kept his Buy rating after the company agreed to settle all outstanding licensing and patent disputes with Apple (AAPL), with the two also entering into a 6-year chip-supply deal. Despite the 23% surge in the stock price on the announcement, the analyst believes that Qualcomm shares have "much further to go" since the company has not yet "started to monetize its significant intellectual property in 5G and multi-generation lead in 5G basebands." Kelleher further contends that Qualcomm's litigation settlement represents a "partial vindication of its licensing model and strategy."
QCOM Qualcomm
$74.25

17.06 (29.83%)

04/17/19
JPMS
04/17/19
UPGRADE
Target $88
JPMS
Overweight
JPMorgan upgrades Qualcomm after 'overwhelmingly positive' Apple settlement
JPMorgan analyst Samik Chatterjee upgraded Qualcomm (QCOM) to Overweight from Neutral and raised his price target for the shares to $88 from $54. The stock in premarket trading is up 5%, or $3.82, to $74.27 after rallying 23% before yesterday's close. The settlement with Apple (AAPL) appears to be "overwhelmingly positive for Qualcomm despite the absence of details at this time," Chatterjee tells investors in a research note. The agreement includes a six-year patent licensing agreement and a multi-year chipset agreement, estimated by Qualcomm to drive earnings accretion of $2 per share, the analyst points out. Further, he believes the agreement opens up the opportunity for Qualcomm to resume chipset supply to Apple. Chatterjee says his upgrade of Qualcomm reflects a combination of upside driven by 5G leadership and dissipation of downside risks from litigations following the agreement with Apple.

TODAY'S FREE FLY STORIES

FB

Facebook

$182.64

-1.13 (-0.61%)

17:42
04/24/19
04/24
17:42
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17:42
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Facebook says encrypted communications to be big focus in next couple of years »

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CLB

Core Laboratories

$72.91

-1.605 (-2.15%)

17:42
04/24/19
04/24
17:42
04/24/19
17:42
Earnings
Core Laboratories sees Q2 EPS 47c-50c, consensus 49c »

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CLB

Core Laboratories

$72.91

-1.605 (-2.15%)

17:41
04/24/19
04/24
17:41
04/24/19
17:41
Earnings
Core Laboratories reports Q1 adjusted EPS 44c, consensus 43c »

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MSFT

Microsoft

$125.00

-0.5 (-0.40%)

17:41
04/24/19
04/24
17:41
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17:41
Hot Stocks
Microsoft CEO says LinkedIn saw 'record level of engagement' in Q3 »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:40
04/24/19
04/24
17:40
04/24/19
17:40
Hot Stocks
Tesla CEO Musk says large number of vehicle deliveries shifted into Q2 »

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FB

Facebook

$182.64

-1.13 (-0.61%)

17:33
04/24/19
04/24
17:33
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17:33
Hot Stocks
Facebook sees changes making mobile ad targeting more difficult »

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:32
04/24/19
04/24
17:32
04/24/19
17:32
Earnings
Breaking Earnings news story on Packaging Corp. »

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:30
04/24/19
04/24
17:30
04/24/19
17:30
Hot Stocks
Breaking Hot Stocks news story on Packaging Corp. »

Packaging Corp reports Q1…

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:30
04/24/19
04/24
17:30
04/24/19
17:30
Earnings
Tesla expects to significantly reduce loss in Q2, return to profitability in Q3 »

Tesla CEO Elon Musk said,…

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  • 24

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FOLD

Amicus

$13.15

-0.12 (-0.90%)

17:30
04/24/19
04/24
17:30
04/24/19
17:30
Syndicate
Breaking Syndicate news story on Amicus »

Amicus files automatic…

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FB

Facebook

$182.64

-1.13 (-0.61%)

17:29
04/24/19
04/24
17:29
04/24/19
17:29
Hot Stocks
Facebook says number of ad impressions served across all services rose 32% in Q1 »

Comments taken from Q1…

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:29
04/24/19
04/24
17:29
04/24/19
17:29
Earnings
Packaging Corp. reports Q1 adjusted EPS $1.98, consensus $1.96 »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:29
04/24/19
04/24
17:29
04/24/19
17:29
Earnings
Tesla sees 2019 capital expenditures of $2.0B-$2.5B »

Tesla CEO Elon Musk said,…

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  • 24

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MEOH

Methanex

$57.37

-1.63 (-2.76%)

17:28
04/24/19
04/24
17:28
04/24/19
17:28
Earnings
Methanex reports Q1 adjusted EPS 73c, consensus 88c »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:27
04/24/19
04/24
17:27
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17:27
Earnings
Tesla sees energy generation, storage revenue increasing 'significantly' in 2019 »

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  • 24

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MKGI

Monaker Group

$2.62

(0.00%)

17:27
04/24/19
04/24
17:27
04/24/19
17:27
Syndicate
Monaker Group files to sell common stock, no amount given »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:26
04/24/19
04/24
17:26
04/24/19
17:26
Earnings
Tesla CEO sees order rate continuing to increase throughout year »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:25
04/24/19
04/24
17:25
04/24/19
17:25
Earnings
Tesla reaffirms guidance of 360K-400K vehicle deliveries in 2019 »

Tesla CEO Elon Musk said,…

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  • 24

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IVZ

Invesco

$21.53

-0.09 (-0.42%)

17:25
04/24/19
04/24
17:25
04/24/19
17:25
Conference/Events
Washington Association of Money Managers to hold a meeting »

David Wertheim, Senior…

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  • 24

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CB

Chubb

$140.51

1.94 (1.40%)

17:25
04/24/19
04/24
17:25
04/24/19
17:25
Conference/Events
Economic Club of Washington, D.C. to hold a dinner meeting »

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FB

Facebook

$182.64

-1.13 (-0.61%)

17:23
04/24/19
04/24
17:23
04/24/19
17:23
Earnings
Facebook cuts FY19 CapEx view to $17B-$19B from $18B-$20B »

Sees FY19 effective tax…

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MTOR

Meritor

$24.83

0.21 (0.85%)

17:23
04/24/19
04/24
17:23
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17:23
Hot Stocks
Meritor awarded $17.1M electric drivetrain system contract for 38 trucks »

Merito announced it has…

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:22
04/24/19
04/24
17:22
04/24/19
17:22
Hot Stocks
Tesla said deliveries of Model S, Model X declined to 12,100 in Q1 »

Tesla CEO Elon Musk said…

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  • 24

    Apr

TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:20
04/24/19
04/24
17:20
04/24/19
17:20
Hot Stocks
Tesla said produced 63K Model 3 vehicles in Q1 »

Tesla CEO said "We…

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  • 24

    Apr

WWR

Westwater Resources

$7.13

-0.12 (-1.66%)

17:20
04/24/19
04/24
17:20
04/24/19
17:20
Syndicate
Breaking Syndicate news story on Westwater Resources »

Westwater Resources files…

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