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AAPL

Apple

$207.21

4.59 (2.27%)

, INTC

Intel

$51.36

1.1 (2.19%)

17:28
07/22/19
07/22
17:28
07/22/19
17:28

Apple may pay $1B or more for Intel patents, staff in chip unit deal, WSJ says

Apple (AAPL) is in advanced talks to acquire the smartphone-modem chip business of Intel (INTC) and could pay $1B or more for the assets, which include Intel's patents and staff, The Wall Street Journal's Dana Cimilluca, Cara Lombardo and Tripp Mickle report, citing sources. The report states that Intel's smartphone operations have been losing about $1B annually and has underperformed expectations, with the deal said to allow the company to direct its focus on 5G technology. Reference Link

AAPL

Apple

$207.21

4.59 (2.27%)

INTC

Intel

$51.36

1.1 (2.19%)

  • 25

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    Aug

AAPL Apple
$207.21

4.59 (2.27%)

07/22/19
MSCO
07/22/19
NO CHANGE
Target $247
MSCO
Overweight
Morgan Stanley says Apple attractive ahead of earnings, ups target to $247
Morgan Stanley analyst Katy Huberty points to four reasons that she has a positive bias on Apple ahead of its report of June quarter earnings - investor sentiment is unusually negative; she expects Services revenue growth to accelerate for the first time since the March 2018 quarter; iPhone data held up in her checks; and she believes September quarter consensus estimates give the company a low bar and low risk of a guidance miss. The analyst, who slightly raised her June quarter revenue forecast to $53.8B ahead of the company's report, increased her price target on Apple shares to $247 from $231 and keeps an Overweight rating on the stock.
07/22/19
BERN
07/22/19
NO CHANGE
BERN
Apple Q3 results will likely matter more than usual, says Bernstein
Bernstein analyst A.M. Sacconaghi, Jr. notes that historically, Apple's Q3 results have meant relatively little to investors, whose focus by this time had typically shifted to next year's iPhone cycle. Following Apple's volatile 2019, however, the analyst would argue that Q3 results will likely matter more than usual, as they could shed further light on the iPhone's health in China, price elasticity of iPhone sales, and/or any contraction or further elongation of iPhone replacement cycles. For Q3, he expects Apple to report in-line revenues and EPS, and is slightly below the Street on Services revenues.
07/19/19
NOMU
07/19/19
NO CHANGE
Target $180
NOMU
Neutral
Apple price target raised to $180 from $175 at Nomura Instinet
Nomura Instinet analyst Jeffrey Kvaal raised his price target for Apple to $180 from $175 to reflect higher market multiples while keeping a Neutral rating on the shares. The analyst's fiscal Q3 work indicates a slow finish to the iPhone Xs cycle and "steady" App Store growth. Kvaal has low expectations for the impending iPhone cycle and does not expect Apple's new services to add materially to earnings. However, the company's ecosystem and buyback program "remain strong," the analyst writes in a research note titled "Bereft of Earnings Accelerants."
07/18/19
07/18/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Apple (AAPL) and Skyworks (SWKS) upgraded to Outperform from Market Perform at Raymond James with analyst Christopher Caso citing greater confidence in next year's 5G iPhone cycle. 2. PriceSmart (PSMT) upgraded to Outperform from Sector Perform at Scotiabank. 3. BNY Mellon (BK) upgraded to Market Perform from Underperform at Keefe Bruyette with analyst Brian Kleinhanzl saying after the company's Q2 results, he feels its negative catalysts are slowly reversing. 4. U.S. Bancorp (USB) upgraded to Neutral from Underperform at BofA/Merrill with analyst Erika Najarian saying she believes earnings headwinds have reached an inflection point and net interest margin is more defensible versus peers. 5. Power Integrations (POWI) upgraded to Buy from Hold at Stifel with analyst Tore Svanberg citing the company's near-term momentum from the USB-PD adoption cycle as well as its longer-term opportunity in the high-power industry and auto. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
INTC Intel
$51.36

1.1 (2.19%)

07/22/19
ATLE
07/22/19
INITIATION
Target $38
ATLE
Underweight
Intel initiated with an Underweight at Atlantic Equities
Atlantic Equities started Intel with a Underweight rating and $38 price target.
07/18/19
MZHO
07/18/19
DOWNGRADE
Target $37
MZHO
Neutral
AMD downgraded to Neutral from Buy at Mizuho
Mizuho analyst Vijay Rakesh downgraded AMD (AMD) to Neutral from Buy while raising his price target for the shares to $37 from $33. The chipmaker closed Wednesday down 25c to $33.60. The analyst continues to like AMD given its "solid" Ryzen/Rome portfolio and new product ramps, but he's downgrading the shares after a "stellar" 80% rally year-to-date. With the stock at a 10-year high, upside in the second half of 2019 will be more limited, Rakesh tells investors in a research note. This will be due to the PC pull-in that occurred during the first half of 2019, slower Rome ramps in the second half, and pricing pressure from Intel (INTC), contends the analyst. Rakesh says he'd revisit AMD shares at a more attractive entry point since its long-term roadmap "is still intact."
07/17/19
NOMU
07/17/19
NO CHANGE
Target $65
NOMU
Buy
Nomura Instinet reiterates Buy rating on Intel ahead of June quarter results
Nomura Instinet analyst David Wong reiterates a Buy rating on Intel with a $65 price target ahead of the company's June quarter results on July 25. Amid "broad-based softness" in the electronics end markets, Intel's business will be helped by improvement in the PC end market, ramping shipments of its Cascade Lake data center processors, and qualification of its 10nm technology, Wong tells investors in a pre-earnings research note. He expects continued Mobileye growth momentum and believes the 10nm ramp should help gross margin in the second half of the year.
07/15/19
RBCM
07/15/19
NO CHANGE
Target $41
RBCM
Underperform
RBC sees AMD continuing to take share in desktops, notebooks and servers
RBC Capital analyst Mitch Steves said that given PC data points that have been coming in positively, the question for Intel (INTC) is whether unit upside can offset share loss to AMD (AMD). The analyst, who thinks "more investors are near-term positive but long-term negative" on Intel, believes AMD will continue to gain share in both desktops and notebooks in the consumer market and thinks AMD can ramp up to 10% market share in servers by the end of this year. Steves keeps an Underperform rating on Intel shares.

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AEO

American Eagle

$15.40

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ANGI

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GigCapital

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