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Fly News Breaks for February 18, 2020
WDC, MU, QCOM, AVGO, SWKS, QRVO, AAPL
Feb 18, 2020 | 07:41 EDT
After Apple (AAPL) announced that it will not meet March quarter guidance due to disruptions to its supply chain and weaker than expected demand in China amid the Covid-19 outbreak, Morgan Stanley analysts Craig Hettenbach and Joseph Moore noted that the news could weigh on Qorvo (QRVO), Skyworks (SWKS) and Qualcomm (QCOM) and also presents a risk to the memory market. They estimate Qorvo has around 30% exposure to China smartphone OEMs and noted that management had already tempered expectations for the June quarter. They estimate Skyworks has around 10%-15% exposure to China smartphone OEMs and while they said the company has done a good job in managing inventory in the China smartphone supply chain, it could still feel an impact in the June quarter due to both China smartphones and the weaker iPhone. They estimate Broadcom (AVGO) has low single digit exposure to China smartphones, the analysts tell investors. Qualcomm highlighted risks of disruption from Covid-19 on its earnings call two weeks ago, Hettenbach and Moore added. In terms of implications for Micron (MU) and Western Digital (WDC), the analysts see decelerating smartphone builds as a risk that memory improvement is deferred, and believe they may have the potential to derail the memory recovery if China demand does not come back quickly.
News For AAPL;QRVO;SWKS;AVGO;QCOM;MU;WDC From the Last 2 Days
AAPL
Oct 28, 2020 | 19:22 EDT
Germany's Federal Cartel Office has launched a probe into Amazon (AMZN) and Apple (AAPL) over potentially anticompetitive behavior, Reuters' Arno Schuetze reports, citing German daily Frankfurter Allgemeine Zeitung. The German antitrust authority is investigating whether Amazon banning certain third-party traders on its platform from offering certain branded products complies with the country's laws on the matter, Schuetze says. Reference Link
WDC
Oct 28, 2020 | 19:01 EDT
Check out this evening's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here
QCOM
Oct 28, 2020 | 17:14 EDT
Stocks were sharply lower from the outset of trading with very few signs of any inclination to buy the dip as new lockdown measures in Europe, and worries about the impending election in the U. S... To see the rest of the story go to thefly.com. See Story Here
WDC
Oct 28, 2020 | 16:19 EDT
Reports Q1 revenue $3.9B, consensus $3.83B. Client Devices increased 20%, Data Center Devices and Solutions revenue declined 26%, and Client Solutions declined 5% year-over-year. The company said, "While we are still managing through macro uncertainty, during the quarter we benefitted from strength particularly in the retail sector, driven by favorable macro and market dynamics, as well as the brand recognition of our products. Our diversified storage portfolio strategy implemented through our recently announced organizational structure will enable us to accelerate growth, improve our focus, and drive sustainable, long-term shareholder value."
QCOM
Oct 28, 2020 | 13:55 EDT
A U.S. appeals court has declined to reconsider an August ruling that dismissed the U.S. Federal Trade Commission's antitrust case against Qualcomm, Reuters' Jan Wolfe reports. Reference Link
AAPL
Oct 28, 2020 | 13:32 EDT
Apple (AAPL) has tweaked its latest version of the iPhone operating system, iOS 14 to show its own in-house search results, "and link directly to websites when users type queries from its home screen," wrote Tim Bradshaw and Patrick McGee of the Financial Times. With this barely noticeable change in iOS 14 Apple has stepped up its "efforts to develop its own search technology as US antitrust authorities threaten multibillion-dollar payments that Google (GOOG) makes to secure prime placement of its engine on the iPhone," added the FT story. "When the US Department of Justice launched a case last week, over payments that Google makes to Apple to be the iPhone's default search tool, urgency was added to the initiative," said the Financial Times. Reference Link
WDC
Oct 28, 2020 | 13:05 EDT
Notable companies reporting after the market close, with earnings consensus, include Visa (V), consensus $1.10... Amgen (AMGN), consensus $3.80... ServiceNow (NOW), consensus $1.03... Gilead Sciences (GILD), consensus $1.95... Cognizant Technology (CTSH), consensus 90c... eBay Inc. (EBAY), consensus 86c... O'Reilly Automotive (ORLY), consensus $6.19... Ford Motor (F), consensus 16c... Pinterest (PINS), consensus 2c... Yum China (YUMC), consensus 49c... Cerner (CERN), consensus 71c... Teladoc Health (TDOC), consensus (32c)... Etsy (ETSY), consensus 58c... Livongo Health (LVGO), consensus 5c... Western Digital (WDC), consensus 54c... United Rentals (URI), consensus $4.28... Molina Healthcare (MOH), consensus $2.16... Fastly (FSLY), consensus 0c... SunPower (SPWR), consensus (5c)... Sprouts Farmers Market (SFM), consensus 36c... Sunnova Energy (NOVA), consensus (15c)... Rent-A-Center (RCII), consensus 96c... Spirit Airlines (SAVE), consensus ($2.72).
AAPL
Oct 27, 2020 | 15:55 EDT
Apple has acquired a startup specializing in advanced artificial intelligence and computer vision technology that may help the iPhone maker improve its own AI across a number of apps and services, Bloomberg's Mark Gurman reports. The tech giant acquired Vilynx earlier this year, according to people familiar with the deal. Vilynx developed technology that uses AI to analyze a video's visual, audio and text content to understand what the video shows. It used that technology to create tags for the video, making it searchable, the author notes, adding that the deal was completed for about $50M. Reference Link
AAPL
Oct 27, 2020 | 08:55 EDT
Monday's total option volume of 28.1 million contracts resulted in net open interest growth of 4.04 million calls and 3.95 million puts. Apple (AAPL), Intel (INTC), Advanced Micro (AMD) and Microsoft (MSFT) saw the greatest growth. Top five new positions opened include 30k Citi (C) Jun-21 47.5 calls, 24k Intel (INTC) Nov-20 50 calls, 21k Ford (F) Nov-20 7.5 puts, 20k Ford (F) Mar-21 10 calls and 16k Intel (INTC) Nov-20 50 puts.