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QCOM

Qualcomm

$74.25

17.06 (29.83%)

, AAPL

Apple

$199.00

-0.21 (-0.11%)

08:27
04/17/19
04/17
08:27
04/17/19
08:27

Intel 5G modem challenges a key factor leading to Apple settlement, says KeyBanc

KeyBanc analyst John Vinh notes that Qualcomm (QCOM) and Apple (AAPL) announced an agreement to dismiss all legal proceedings between the two companies worldwide, and says he believes challenges at Intel (INTC) on its 5G modem were a key factor leading to the settlement. The analyst also thinks this settlement likely will lead to a Huawei settlement, which could add another 80c in EPS for Qualcomm. While Vinh views the settlement as encouraging and as removing a major overhang for Qualcomm, he remains Sector Weight as he believes the economic benefit from the Apple settlement is largely reflected in the stock.

QCOM

Qualcomm

$74.25

17.06 (29.83%)

AAPL

Apple

$199.00

-0.21 (-0.11%)

INTC

Intel

$56.40

0.13 (0.23%)

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QCOM Qualcomm
$74.25

17.06 (29.83%)

04/17/19
KEYB
04/17/19
NO CHANGE
KEYB
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.
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."
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.
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.
AAPL Apple
$199.00

-0.21 (-0.11%)

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.
INTC Intel
$56.40

0.13 (0.23%)

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".
04/08/19
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."

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04/18/19
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Options
Preliminary option volume of 20.4M today »

Preliminary option volume…

ZSAN

Zosano Pharma

$3.41

-0.11 (-3.13%)

16:28
04/18/19
04/18
16:28
04/18/19
16:28
Hot Stocks
Zosano Pharma CEO buys 100K shares of common stock »

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SJI

South Jersey Industries

$31.46

-0.16 (-0.51%)

16:26
04/18/19
04/18
16:26
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16:26
Hot Stocks
Elizabethtown Gas files rate case with NJBPU »

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BCBP

BCB Bancorp

$13.09

0.08 (0.61%)

16:21
04/18/19
04/18
16:21
04/18/19
16:21
Earnings
BCB Bancorp reports Q1 EPS 32c, consensus 30c »

Total cash and cash…

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
04/18/19
04/18
16:20
04/18/19
16:20
Options
Closing CBOE SPX and VIX Index summary for April 18th »

The CBOE Volatility Index…

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OKE

Oneok

$69.13

-0.59 (-0.85%)

16:17
04/18/19
04/18
16:17
04/18/19
16:17
Hot Stocks
Oneok increases quarterly dividend 9% to 86.5c per share »

Oneok increased its…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
04/18/19
04/18
16:17
04/18/19
16:17
Technical Analysis
NASDAQ market internals summary »

Volume was average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
04/18/19
04/18
16:16
04/18/19
16:16
Technical Analysis
NYSE market internals summary »

Volume was average for…

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HEP

Holly Energy Partners

$28.23

0.51 (1.84%)

16:16
04/18/19
04/18
16:16
04/18/19
16:16
Hot Stocks
Holly Energy Partners raises dividend to 67c per unit from 66.75c »

The distribution will be…

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HES

Hess Corp.

$65.87

-0.05 (-0.08%)

16:15
04/18/19
04/18
16:15
04/18/19
16:15
Hot Stocks
Hess Corp. announces 13th discovery offshore Guyana »

Hess Corporation…

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16:15
04/18/19
04/18
16:15
04/18/19
16:15
General news
Breaking General news story  »

Week of 4/17 Fed Balance…

16:15
04/18/19
04/18
16:15
04/18/19
16:15
General news
Breaking General news story  »

Week of 4/8 Money Supply…

DTRM

Determine

$0.00

(0.00%)

16:13
04/18/19
04/18
16:13
04/18/19
16:13
Hot Stocks
Determine announces winding up, liquidation, and dissolution »

Determine announced that…

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PRTA

Prothena

$10.67

-0.08 (-0.74%)

16:12
04/18/19
04/18
16:12
04/18/19
16:12
Hot Stocks
Prothena will explore potential business development opportunities for NEOD001 »

Prothena reports results…

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  • 06

    May

FFIN

First Financial

$60.25

-0.32 (-0.53%)

16:11
04/18/19
04/18
16:11
04/18/19
16:11
Earnings
First Financial reports Q1 EPS 56c, consensus 56c »

Reports Q1 loan loss…

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  • 23

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INDB

Independent Bank

$84.23

-0.98 (-1.15%)

16:11
04/18/19
04/18
16:11
04/18/19
16:11
Earnings
Independent Bank reports Q1 EPS $1.30, consensus $1.29 »

Reports Q1 NII $82.5M vs.…

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EXPO

Exponent

$56.31

0.15 (0.27%)

16:11
04/18/19
04/18
16:11
04/18/19
16:11
Earnings
Exponent reports Q1 EPS 42c, consensus 36c »

Reports Q1 revenue…

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  • 18

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SRCE

1st Source

$46.04

-0.68 (-1.46%)

16:11
04/18/19
04/18
16:11
04/18/19
16:11
Earnings
1st Source reports Q1 EPS 86c, consensus 85c »

According to Christopher…

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  • 18

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AMNB

American National Bankshares

$35.04

-0.25 (-0.71%)

16:10
04/18/19
04/18
16:10
04/18/19
16:10
Earnings
Breaking Earnings news story on American National Bankshares »

American National…

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LITE

Lumentum

$60.71

0.56 (0.93%)

16:10
04/18/19
04/18
16:10
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16:10
Hot Stocks
Lumentum sees revenue from datacom transceivers down $20M-$25M in Q4 »

Lumentum announced the…

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TRNO

Terreno Realty

$43.11

0.44 (1.03%)

16:09
04/18/19
04/18
16:09
04/18/19
16:09
Hot Stocks
Terreno Realty executes 192K sqm lease in Florida »

Terreno Realty announced…

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INNV

Innovus Pharmaceuticals

$0.00

(0.00%)

, AKRX

Akorn

$2.77

-0.16 (-5.46%)

16:09
04/18/19
04/18
16:09
04/18/19
16:09
Hot Stocks
Innovus announces FDA approval for Akorn's ANDA for FlutiCare »

Innovus Pharmaceuticals…

INNV

Innovus Pharmaceuticals

$0.00

(0.00%)

AKRX

Akorn

$2.77

-0.16 (-5.46%)

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ISRG

Intuitive Surgical

$530.12

5.37 (1.02%)

16:09
04/18/19
04/18
16:09
04/18/19
16:09
Earnings
Intuitive Surgical says worldwide da Vinci procedures grew 18% »

Intuitive Surgical said…

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ISRG

Intuitive Surgical

$529.84

5.09 (0.97%)

16:07
04/18/19
04/18
16:07
04/18/19
16:07
Earnings
Intuitive Surgical reports Q1 EPS $2.61, consensus $2.70 »

Reports Q1 revenue $974M,…

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UIHC

United Insurance

$16.45

0.28 (1.73%)

16:06
04/18/19
04/18
16:06
04/18/19
16:06
Hot Stocks
United Insurance estimates Q1 catastrophe losses of roughly $18M pre-tax »

United Insurance Holdings…

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  • 07

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