FEATURE Micron Technology stock was rising early on Wednesday. Its memory-chip rival Samsung Electronics faces the growing threat of a strike. Micron shares were up 4.1% in premarket trading. Already soaring prices for memory chips could receive a further boost after talks between Samsung management and labor representatives broke down Wednesday.
FEATURE Micron Technology stock was rising early on Wednesday. Its memory-chip rival Samsung Electronics faces the growing threat of a strike. Micron shares were up 4.1% in premarket trading. Already soaring prices for memory chips could receive a further boost after talks between Samsung management and labor representatives broke down Wednesday.
ZIM Integrated press release ( ZIM ): Q1 GAAP EPS of -$0.71 misses by $0.33 . Revenue of $1.4B (-30.3% Y/Y) misses by $60M . Adjusted EBITDA for the first quarter was $313 million, a year-over-year decrease of 60%. Operating loss ( EBIT ) for the first quarter was $18 million, compared to operating income of $464 million in the first quarter of 2025. Adjusted EBIT loss for the first quarter was $5...
ZIM Integrated press release ( ZIM ): Q1 GAAP EPS of -$0.71 misses by $0.33 . Revenue of $1.4B (-30.3% Y/Y) misses by $60M . Adjusted EBITDA for the first quarter was $313 million, a year-over-year decrease of 60%. Operating loss ( EBIT ) for the first quarter was $18 million, compared to operating income of $464 million in the first quarter of 2025. Adjusted EBIT loss for the first quarter was $5 million, compared to Adjusted EBIT of $463 million in the first quarter of 2025. Carried volume in the first quarter was 866 thousand TEUs, a year-over-year decrease of 8%. Average freight rate per TEU in the first quarter was $1,310, a year-over-year decrease of 26%. Net leverage ratio 1 of 1.7x as of March 31, 2026, compared to 1.3x as of December 31, 2025; net debt 1 of $2.93 billion as of March 31, 2026, compared to net debt of $2.92 billion as of December 31, 2025. In light of the proposed transaction with Hapag-Lloyd, ZIM will not host a conference call in connection with its first quarter 2026 results. More on ZIM Integrated ZIM Integrated: The Sakal $4.5B Bid Just Made A Done Deal Better ZIM Integrated: Rating Downgrade Due To Dividend Uncertainties ZIM Integrated Shipping: I'm Not Playing The Merger Roulette ZIM Integrated Q1 2026 Earnings Preview Earnings week ahead: NVDA, HD, TGT, WMT, NIO, BIDU, ZIM, and more
Welcome to Going Private , I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we bring you news of an SDNY probe into private credit valuations, a European private equity push to create a new crop of global corporate champions and the harsh reality facing some US commercial property players. But fir...
Welcome to Going Private , I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we bring you news of an SDNY probe into private credit valuations, a European private equity push to create a new crop of global corporate champions and the harsh reality facing some US commercial property players. But first we look at another transatlantic direct lending tie-up between two of Wall Street’s biggest names. If you’re not already on our list, sign up here . Have feedback? Email us at goingprivate@bloomberg.net Love Triangle It’s the latest Wall Street-private capital collaboration that Europe’s direct lending market never knew it needed — although clients who end up party to the budding BlackRock HPS-Citigroup bromance may want to check who is serving whom. The US heavyweights are teaming up to offer as much as €15 billion ($17.5 billion) sub-investment grade debt to corporate and private equity clients across the UK and mainland Europe over the next five years, in a union aimed at progressing their respective ambitions in global private credit. Intense domestic competition is pushing US direct lenders to look further afield for opportunities, particularly as pressure to deploy billions of dollars of capital rachets up. Banks, on the other hand, are touting their abilities to connect those lenders with the best borrowers on their books - in exchange for attractive fees. The Citi/HPS Private Capital Program will focus on senior and junior credit deals sourced by Citi’s network of relationship bankers in Europe before eventually expanding the initiative to the Middle East, my colleagues Claire Ruckin and Silas Brown report. “It’s HPS’ capital, credit decision and ultimately their loan, but it’s an origination and structuring that we bring to them, and then jointly figure out whether there’s a deal to be done,” Citigroup’s co-head of global debt capital markets John McAuley said i...
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the American Century Focused Dynamic Growth ETF (Symbol: FDG), we found that the implied analyst target price for t...
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the American Century Focused Dynamic Growth ETF (Symbol: FDG), we found that the implied analyst target price for the ETF based upon its underlying holdings is $161.52 per unit. With FDG trading at a recent price near $135.13 per unit, that means that analysts see 19.53% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of FDG's underlying holdings with notable upside to their analyst target prices are Regeneron Pharmaceuticals, Inc. (Symbol: REGN), Robinhood Markets Inc (Symbol: HOOD), and Monolithic Power Systems Inc (Symbol: MPWR). Although REGN has traded at a recent price of $630.30/share, the average analyst target is 39.07% higher at $876.53/share. Similarly, HOOD has 34.66% upside from the recent share price of $74.16 if the average analyst target price of $99.86/share is reached, and analysts on average are expecting MPWR to reach a target price of $1820.00/share, which is 23.97% above the recent price of $1468.11. Below is a twelve month price history chart comparing the stock performance of REGN, HOOD, and MPWR: Below is a summary table of the current analyst target prices discussed above: Name Symbol Recent Price Avg. Analyst 12-Mo. Target % Upside to Target American Century Focused Dynamic Growth ETF FDG $135.13 $161.52 19.53% Regeneron Pharmaceuticals, Inc. REGN $630.30 $876.53 39.07% Robinhood Markets Inc HOOD $74.16 $99.86 34.66% Monolithic Power Systems Inc MPWR $1468.11 $1820.00 23.97% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and i...
The main US stock measures were pointing higher in Wednesday's premarket activity as traders await t Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
The main US stock measures were pointing higher in Wednesday's premarket activity as traders await t Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Vanguard Mega Cap Growth ETF (Symbol: MGK), we found that the implied analyst target price for the ETF based up...
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Vanguard Mega Cap Growth ETF (Symbol: MGK), we found that the implied analyst target price for the ETF based upon its underlying holdings is $100.93 per unit. With MGK trading at a recent price near $87.44 per unit, that means that analysts see 15.42% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of MGK's underlying holdings with notable upside to their analyst target prices are AutoZone, Inc. (Symbol: AZO), Sherwin-Williams Co (Symbol: SHW), and Boeing Co. (Symbol: BA). Although AZO has traded at a recent price of $3347.28/share, the average analyst target is 27.96% higher at $4283.08/share. Similarly, SHW has 27.77% upside from the recent share price of $299.05 if the average analyst target price of $382.10/share is reached, and analysts on average are expecting BA to reach a target price of $269.54/share, which is 25.36% above the recent price of $215.01. Below is a twelve month price history chart comparing the stock performance of AZO, SHW, and BA: Below is a summary table of the current analyst target prices discussed above: Name Symbol Recent Price Avg. Analyst 12-Mo. Target % Upside to Target Vanguard Mega Cap Growth ETF MGK $87.44 $100.93 15.42% AutoZone, Inc. AZO $3347.28 $4283.08 27.96% Sherwin-Williams Co SHW $299.05 $382.10 27.77% Boeing Co. BA $215.01 $269.54 25.36% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, b...
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR SSGA US Sector Rotation ETF (Symbol: XLSR), we found that the implied analyst target price for the ETF bas...
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR SSGA US Sector Rotation ETF (Symbol: XLSR), we found that the implied analyst target price for the ETF based upon its underlying holdings is $71.37 per unit. With XLSR trading at a recent price near $64.78 per unit, that means that analysts see 10.19% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of XLSR's underlying holdings with notable upside to their analyst target prices are Walt Disney Co. (Symbol: DIS), Amazon.com Inc (Symbol: AMZN), and Procter & Gamble Company (Symbol: PG). Although DIS has traded at a recent price of $102.29/share, the average analyst target is 30.20% higher at $133.18/share. Similarly, AMZN has 21.73% upside from the recent share price of $259.34 if the average analyst target price of $315.69/share is reached, and analysts on average are expecting PG to reach a target price of $164.50/share, which is 16.42% above the recent price of $141.30. Below is a twelve month price history chart comparing the stock performance of DIS, AMZN, and PG: Below is a summary table of the current analyst target prices discussed above: Name Symbol Recent Price Avg. Analyst 12-Mo. Target % Upside to Target SPDR SSGA US Sector Rotation ETF XLSR $64.78 $71.37 10.19% Walt Disney Co. DIS $102.29 $133.18 30.20% Amazon.com Inc AMZN $259.34 $315.69 21.73% Procter & Gamble Company PG $141.30 $164.50 16.42% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflec...
In recent trading, shares of Qorvo Inc (Symbol: QRVO) have crossed above the average analyst 12-month target price of $101.12, changing hands for $101.27/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business devel...
In recent trading, shares of Qorvo Inc (Symbol: QRVO) have crossed above the average analyst 12-month target price of $101.12, changing hands for $101.27/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised. There are 17 different analyst targets within the Zacks coverage universe contributing to that average for Qorvo Inc, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $80.00. And then on the other side of the spectrum one analyst has a target as high as $140.00. The standard deviation is $16.147. But the whole reason to look at the average QRVO price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with QRVO crossing above that average target price of $101.12/share, investors in QRVO have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $101.12 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover Qorvo Inc: Recent QRVO Analyst Ratings Breakdown » Current 1 Month Ago 2 Month Ago 3 Month Ago Strong buy ratings: 2 2 2 4 Buy ratings: 1 2 2 1 Hold ratings: 12 12 12 12 Sell ratings: 1 1 1 1 Strong sell ratings: 1 1 1 0 Average rating: 2.88 2.83 2.83 2.56 The average rating presented in the last row of th...
GDS Holdings press release ( GDS ): Q1 GAAP EPS of $0.19 beats by $0.23 . Revenue of $488.1M (+30.1% Y/Y) beats by $49.36M . The Company confirms that the previously provided guidance of total revenues for the year of 2026 of RMB12,400 million – RMB12,900 million, Adjusted EBITDA of RMB5,750 million – RMB6,000 million and capex of around RMB9,000 million remain unchanged. More on GDS Holdings GDS ...
GDS Holdings press release ( GDS ): Q1 GAAP EPS of $0.19 beats by $0.23 . Revenue of $488.1M (+30.1% Y/Y) beats by $49.36M . The Company confirms that the previously provided guidance of total revenues for the year of 2026 of RMB12,400 million – RMB12,900 million, Adjusted EBITDA of RMB5,750 million – RMB6,000 million and capex of around RMB9,000 million remain unchanged. More on GDS Holdings GDS Holdings: Bullish On EBITDA Beat And Client Price Hike GDS Holdings: Stay Bullish As The Demand Outlook Has Gotten Even Better GDS Holdings Limited 2025 Q4 - Results - Earnings Call Presentation GDS Holdings Q1 2026 Earnings Preview DayOne is said to eye $5B dual listing in Singapore and New York
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Beacon Tactical Risk ETF (Symbol: BTR), we found that the implied analyst target price for the ETF based upon i...
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Beacon Tactical Risk ETF (Symbol: BTR), we found that the implied analyst target price for the ETF based upon its underlying holdings is $29.77 per unit. With BTR trading at a recent price near $27.16 per unit, that means that analysts see 9.61% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of BTR's underlying holdings with notable upside to their analyst target prices are Vanguard Sector Index Funds Vanguard Health Care ETF (Symbol: VHT), Vanguard Sector Index Funds Vanguard Materials ETF (Symbol: VAW), and Vanguard Sector Index Funds Vanguard Information Technology ETF (Symbol: VGT). Although VHT has traded at a recent price of $274.04/share, the average analyst target is 16.77% higher at $0.00/share. Similarly, VAW has 15.53% upside from the recent share price of $221.39 if the average analyst target price of $0.00/share is reached, and analysts on average are expecting VGT to reach a target price of $128.45/share, which is 15.18% above the recent price of $111.52. Below is a twelve month price history chart comparing the stock performance of VHT, VAW, and VGT: Combined, VHT, VAW, and VGT represent 28.37% of the Beacon Tactical Risk ETF. Below is a summary table of the current analyst target prices discussed above: Name Symbol Recent Price Avg. Analyst 12-Mo. Target % Upside to Target Beacon Tactical Risk ETF BTR $27.16 $29.77 9.61% Vanguard Sector Index Funds Vanguard Health Care ETF VHT $274.04 $0.00 16.77% Vanguard Sector Index Funds Vanguard Materials ETF VAW $221.39 $0.00 15.53% Vanguard Sector Index Funds Vanguard Information Technology ETF VGT $111.52 $128.45 15.18% Are analysts justified in these targets, or overly op...
In recent trading, shares of Traeger Inc (Symbol: COOK) have crossed above the average analyst 12-month target price of $49.92, changing hands for $54.50/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business devel...
In recent trading, shares of Traeger Inc (Symbol: COOK) have crossed above the average analyst 12-month target price of $49.92, changing hands for $54.50/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised. There are 6 different analyst targets within the Zacks coverage universe contributing to that average for Traeger Inc, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $37.00. And then on the other side of the spectrum one analyst has a target as high as $75.00. The standard deviation is $15.331. But the whole reason to look at the average COOK price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with COOK crossing above that average target price of $49.92/share, investors in COOK have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $49.92 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover Traeger Inc: Recent COOK Analyst Ratings Breakdown » Current 1 Month Ago 2 Month Ago 3 Month Ago Strong buy ratings: 1 1 1 1 Buy ratings: 0 0 0 0 Hold ratings: 7 8 8 8 Sell ratings: 0 0 0 0 Strong sell ratings: 0 0 0 0 Average rating: 2.75 2.78 2.78 2.78 The average rating presented in the last row of the ab...
The US consumer will slow down as real disposable income growth nears zero and fiscal support fades, threatening equity markets despite strong first-quarter earnings driven by artificial intelligence, according to Bhanu Baweja , chief strategist at UBS Group AG . Long-end bond yields have risen dramatically in the past few sessions, with the 30-year Treasury yield rising to levels last seen in 200...
The US consumer will slow down as real disposable income growth nears zero and fiscal support fades, threatening equity markets despite strong first-quarter earnings driven by artificial intelligence, according to Bhanu Baweja , chief strategist at UBS Group AG . Long-end bond yields have risen dramatically in the past few sessions, with the 30-year Treasury yield rising to levels last seen in 2007 . Speaking to Bloomberg Television on Wednesday, Baweja warned this rise reflects strong nominal growth in the US rather than inflation concerns, with real yields driving much of the backup — especially at the long end of the curve. He said the market’s one dimensional focus on AI hyperscaler capital expenditure spending overlooks slowdown risks in consumer and financial sectors, where strong first-quarter earnings growth masks underlying weakness. “If the market is worried about inflation today, it ought to be worried about growth tomorrow,” he said. Within this backdrop, the strategist expects large-cap stocks to outperform small caps and growth to beat value especially if the Middle East conflict continues, though he sees the US outperforming Europe even as both face headwinds. Price action in the commodities market suggests traders believe the Iran conflict is in the rear-view mirror, Baweja noted, saying six-month oil futures are potentially too low given stalled negotiations and no clear diplomatic solution in sight. Baweja identified value emerging in Japan and UK yield curves, which have become quite steep, while forecasting Bank of England rate cuts starting in 2027 rather than hikes this year, despite quick inflation pass-through. This story was produced with the assistance of Bloomberg Automation.
Sundry Photography/iStock Editorial via Getty Images Investment Thesis Broadcom's ( AVGO ) AI revenue visibility is the best in the semis universe outside Nvidia ( NVDA ). AI semiconductor revenue grew from $12.2B in FY24 to $20B in FY25 (+65%) and is tracking to ~$43B in FY26 (+115%). Management has guided to $100B+ AI chip revenue in FY27 against a $73B disclosed backlog from six named XPU custo...
Sundry Photography/iStock Editorial via Getty Images Investment Thesis Broadcom's ( AVGO ) AI revenue visibility is the best in the semis universe outside Nvidia ( NVDA ). AI semiconductor revenue grew from $12.2B in FY24 to $20B in FY25 (+65%) and is tracking to ~$43B in FY26 (+115%). Management has guided to $100B+ AI chip revenue in FY27 against a $73B disclosed backlog from six named XPU customers (Google, Meta, ByteDance, Anthropic, Fujitsu, and OpenAI). This is a level of forward visibility that does not exist elsewhere in custom silicon. VMware is now a stable cash machine, but not a growth lever. Software segment revenue went from 26% growth in FY25 to 1% YoY in Q1 FY26 , with low-double-digit growth guided for the year. The transition to subscription is largely complete; 90%+ of the top 10,000 VMware customers are on VCF (VMware Cloud Foundation), and segment operating margin sits at ~78%. For Broadcom, software is now a $30B+ annuity with 70%+ EBITDA conversion, not a second growth engine. The moat is wide, but it is being multi-sourced. AVGO's custom XPU customer count has expanded from three to six in 18 months, and Marvell ( MRVL ) has secured a portion of next-generation Google TPU work. Hyperscalers run dual-source by design as they diversify away from single-vendor risk. This raises platform durability (6 customers instead of 3) but compresses the long-run pricing power of the AI semis unit. Capital allocation is high-quality, but the balance sheet limits buyback. Net debt of approximately $49B post-VMware funds $11.1B in annual dividends (raised 10% to $2.60 annualized in December 2025), $3.2B in interest, and only $2.5B of program repurchases in FY25. The dividend keeps growing, and the share count keeps drifting up modestly. But investors shouldn't expect a META-style ( META ) aggressive buyback strategy in the foreseeable future. Valuation is reasonable on FY27E but not undemanding. At $420, AVGO trades at 37x FY26E EPS and 23x FY27E EPS, with FY...
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Kurt Wagner reports on a study that delved into whether popular chatbots provided reliable answers to questions about elections and other news topics. Tech Across the Globe Google unveils revised search: The Alphabet company introduced a new design for its iconic search b...
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Kurt Wagner reports on a study that delved into whether popular chatbots provided reliable answers to questions about elections and other news topics. Tech Across the Globe Google unveils revised search: The Alphabet company introduced a new design for its iconic search box along with artificial intelligence tools. Here’s what else Google announced at its annual developer conference . Fewer Meta Mates: Mark Zuckerberg’s company is alerting thousands of employees that they’re being laid off, part of a previously announced restructuring aimed at reducing costs while investing heavily in artificial intelligence. Meta is betting on AI making everyone more efficient . SoftBank’s deals with OpenAI: Some inside the Japanese conglomerate are concerned that founder Masayoshi Son is too reliant on Sam Altman and OpenAI for SoftBank’s investments in artificial intelligence. Here’s what they fear . Revalued SpaceX is planning to acquire AI coding startup Cursor 30 days after Elon Musk’s company begins trading publicly. The companies announced in April an agreement giving SpaceX, which has taken over Musk’s AI startup xAI, the right to acquire Cursor for $60 billion later this year. At the time, Cursor was in talks with investors for a funding round that would have valued the startup at $50 billion. SpaceX may list its shares in an IPO on June 12. Unreliable sources There are a lot of things that chatbots are good at. Accurately summarizing the news is not one of them. The four major chatbots — OpenAI’s ChatGPT, Google’s Gemini, Anthropic’s Claude and xAI’s Grok — are struggling to fairly and accurately answer questions about elections and geopolitics, according to a new study from Forum AI . Researchers asked the four chatbots more than 3,100 questions about a wide range of news topics, like politics, healthcare and foreign affairs. It found that their...
Sundry Photography/iStock Editorial via Getty Images Investment Thesis Broadcom's ( AVGO ) AI revenue visibility is the best in the semis universe outside Nvidia ( NVDA ). AI semiconductor revenue grew from $12.2B in FY24 to $20B in FY25 (+65%) and is tracking to ~$43B in FY26 (+115%). Management has guided to $100B+ AI chip revenue in FY27 against a $73B disclosed backlog from six named XPU custo...
Sundry Photography/iStock Editorial via Getty Images Investment Thesis Broadcom's ( AVGO ) AI revenue visibility is the best in the semis universe outside Nvidia ( NVDA ). AI semiconductor revenue grew from $12.2B in FY24 to $20B in FY25 (+65%) and is tracking to ~$43B in FY26 (+115%). Management has guided to $100B+ AI chip revenue in FY27 against a $73B disclosed backlog from six named XPU customers (Google, Meta, ByteDance, Anthropic, Fujitsu, and OpenAI). This is a level of forward visibility that does not exist elsewhere in custom silicon. VMware is now a stable cash machine, but not a growth lever. Software segment revenue went from 26% growth in FY25 to 1% YoY in Q1 FY26 , with low-double-digit growth guided for the year. The transition to subscription is largely complete; 90%+ of the top 10,000 VMware customers are on VCF (VMware Cloud Foundation), and segment operating margin sits at ~78%. For Broadcom, software is now a $30B+ annuity with 70%+ EBITDA conversion, not a second growth engine. The moat is wide, but it is being multi-sourced. AVGO's custom XPU customer count has expanded from three to six in 18 months, and Marvell ( MRVL ) has secured a portion of next-generation Google TPU work. Hyperscalers run dual-source by design as they diversify away from single-vendor risk. This raises platform durability (6 customers instead of 3) but compresses the long-run pricing power of the AI semis unit. Capital allocation is high-quality, but the balance sheet limits buyback. Net debt of approximately $49B post-VMware funds $11.1B in annual dividends (raised 10% to $2.60 annualized in December 2025), $3.2B in interest, and only $2.5B of program repurchases in FY25. The dividend keeps growing, and the share count keeps drifting up modestly. But investors shouldn't expect a META-style ( META ) aggressive buyback strategy in the foreseeable future. Valuation is reasonable on FY27E but not undemanding. At $420, AVGO trades at 37x FY26E EPS and 23x FY27E EPS, with FY...
nespix Shares of major semiconductor companies climbed in premarket trading on Wednesday after failed labor talks at Samsung Electronics ( SSNLF ) raised the prospect of a strike that could crimp global memory supply. Memory chip makers Micron Technology ( MU ) advanced +4%, Seagate Technology ( STX ) was up +2%, Western Digital ( WDC ) +1.7%, and Sandisk ( SNDK ) +2.2%. Shares of Nvidia ( NVDA ) ...
nespix Shares of major semiconductor companies climbed in premarket trading on Wednesday after failed labor talks at Samsung Electronics ( SSNLF ) raised the prospect of a strike that could crimp global memory supply. Memory chip makers Micron Technology ( MU ) advanced +4%, Seagate Technology ( STX ) was up +2%, Western Digital ( WDC ) +1.7%, and Sandisk ( SNDK ) +2.2%. Shares of Nvidia ( NVDA ) meanwhile, were up +1.9%, rival AMD ( AMD ) rose+ 2.3%, Broadcom ( AVGO ) added +1.5%, and Qualcomm ( QCOM ) gained +3.3%. Chip equipment makers: ASML ( ASML ), Lam Research ( LRCX ), Applied Materials ( AMAT ) and KLA ( KLAC ) also traded in the green. A general work stoppage will go ahead on Thursday after Samsung’s management rejected a proposal from government mediators that had been accepted by the union, labor leader Choi Seung-ho told reporters. Hours later, South Korea’s labor minister, Kim Young-hoon, urged both sides to enter direct negotiations, though it remains uncertain whether the intervention will bridge the dispute. The collapse in negotiations puts the global technology supply chain at risk because Samsung ( SSNLF ) is the world’s biggest supplier of the chips that go into devices from data center servers to smartphones and electric vehicles. Samsung ( SSNLF ) shares tumbled as much as -4.4% after the decision was announced. Semiconductor ETFs: ( SOXX ), ( SOXL ), ( FTXL ), ( XSD ), ( USD ), ( PSI ), and ( SEMI ). Tech ETFs: ( VGT ), ( XLK ), ( IYW ), ( FTEC ), ( IXN ), and ( RSPT ). More on chip stocks, etc. QUALCOMM Incorporated (QCOM) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript Western Digital Corporation (WDC) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript Micron: Why The Crash May Be Coming Samsung faces strike and chip disruption risk as labor talks fail SA analyst upgrades/downgrades: AAPL, HOOD, HUM, MU
nespix Shares of major semiconductor companies climbed in premarket trading on Wednesday after failed labor talks at Samsung Electronics ( SSNLF ) raised the prospect of a strike that could crimp global memory supply. Memory chip makers Micron Technology ( MU ) advanced +4%, Seagate Technology ( STX ) was up +2%, Western Digital ( WDC ) +1.7%, and Sandisk ( SNDK ) +2.2%. Shares of Nvidia ( NVDA ) ...
nespix Shares of major semiconductor companies climbed in premarket trading on Wednesday after failed labor talks at Samsung Electronics ( SSNLF ) raised the prospect of a strike that could crimp global memory supply. Memory chip makers Micron Technology ( MU ) advanced +4%, Seagate Technology ( STX ) was up +2%, Western Digital ( WDC ) +1.7%, and Sandisk ( SNDK ) +2.2%. Shares of Nvidia ( NVDA ) meanwhile, were up +1.9%, rival AMD ( AMD ) rose+ 2.3%, Broadcom ( AVGO ) added +1.5%, and Qualcomm ( QCOM ) gained +3.3%. Chip equipment makers: ASML ( ASML ), Lam Research ( LRCX ), Applied Materials ( AMAT ) and KLA ( KLAC ) also traded in the green. A general work stoppage will go ahead on Thursday after Samsung’s management rejected a proposal from government mediators that had been accepted by the union, labor leader Choi Seung-ho told reporters. Hours later, South Korea’s labor minister, Kim Young-hoon, urged both sides to enter direct negotiations, though it remains uncertain whether the intervention will bridge the dispute. The collapse in negotiations puts the global technology supply chain at risk because Samsung ( SSNLF ) is the world’s biggest supplier of the chips that go into devices from data center servers to smartphones and electric vehicles. Samsung ( SSNLF ) shares tumbled as much as -4.4% after the decision was announced. Semiconductor ETFs: ( SOXX ), ( SOXL ), ( FTXL ), ( XSD ), ( USD ), ( PSI ), and ( SEMI ). Tech ETFs: ( VGT ), ( XLK ), ( IYW ), ( FTEC ), ( IXN ), and ( RSPT ). More on chip stocks, etc. QUALCOMM Incorporated (QCOM) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript Western Digital Corporation (WDC) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript Micron: Why The Crash May Be Coming Samsung faces strike and chip disruption risk as labor talks fail SA analyst upgrades/downgrades: AAPL, HOOD, HUM, MU
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. While Wall Street continues debating the long-term winners of the AI race, Alphabet Inc. may already be separating itself from other hyperscalers when it comes to actually making money from artificial intelligence. Google's AI Approach Stands Out That's according to Mo Sparks, chief product officer...
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. While Wall Street continues debating the long-term winners of the AI race, Alphabet Inc. may already be separating itself from other hyperscalers when it comes to actually making money from artificial intelligence. Google's AI Approach Stands Out That's according to Mo Sparks, chief product officer at Direxion, who believes Google's ability to monetize AI across chips, cloud, models and search is giving the company unusual flexibility in the current market cycle. In comments exclusive to Benzinga, Sparks said "Google is the one that has most effectively monetized AI thus far" among the hyperscalers. Don't Miss: "Monetizing Gemini was a win for Google," Sparks said, while noting rivals like Amazon.com, Inc. and Meta Platforms, Inc. faced investor concerns around free cash flow and heavy capital expenditures. TPU Momentum Expands AI Trade Sparks also argued Alphabet's rapidly expanding TPU business signals the AI infrastructure trade is becoming broader than just Nvidia Corp. "Alphabet's TPU momentum shows the expansion of the breadth of the AI infrastructure trade," he said, adding that growing demand for both GPUs and TPUs suggests the market opportunity may be larger than investors initially expected. Still, Sparks did not frame Google's infrastructure push as outright bearish for Nvidia. Instead, he called it "a bullish sign showing how wide this trade has started to reach." Trending: Avoid the #1 Investing Mistake: How Your ‘Safe' Holdings Could Be Costing You Big Time Full-Stack AI Strategy Gains Attention According to Sparks, Google's biggest advantage may be its ability to compete across multiple layers of AI simultaneously. "Google is approaching AI holistically and, as a result, is monetizing AI more effectively," he said. That flexibility, he argued, allows Google to stay "nimble with whatever is in demand at any given point in time" — something Sparks sugge...
Indonesia will require exports of key commodities to pass through a state-appointed enterprise in a sweeping effort to curb revenue leaks, tighten oversight of natural resources and keep more foreign exchange earnings at home. The policy, announced by President Prabowo Subianto in a rare address to parliament on Wednesday, would apply to palm oil, coal and ferroalloys – three major export earners ...
Indonesia will require exports of key commodities to pass through a state-appointed enterprise in a sweeping effort to curb revenue leaks, tighten oversight of natural resources and keep more foreign exchange earnings at home. The policy, announced by President Prabowo Subianto in a rare address to parliament on Wednesday, would apply to palm oil, coal and ferroalloys – three major export earners for Southeast Asia’s largest economy. Under the new regulation, producers would have to sell their commodities to the new state-run agency, which would then transact with overseas buyers , effectively ending direct international sales by private companies. Advertisement Prabowo framed the move as a necessary step to tackle under-invoicing, transfer pricing and other practices he said had drained money from Indonesia’s economy and weakened the state’s ability to fund public services. But the plan has also triggered warnings from economists, farmers and industry groups, who say the shift could create a state monopoly, disrupt existing contracts and complicate Indonesia’s access to global markets. Advertisement “Over the past 22 years, Indonesia recorded a trade surplus of US$436 billion, but US$343 billion flowed out of the country. This is why teachers’ salaries remain low, why civil servants struggle, and why our budget often feels insufficient,” Prabowo said. “One of the major causes is under-invoicing, a form of fraud. Some exporters deliberately report lower export values than the actual transaction value, often through overseas shell companies they control. This practice occurs in palm oil, mining, and many other commodities.”
Beijing has accused Taiwanese leader William Lai Ching-te of “destroying cross-strait peace” shortly after he gave a speech to mark his second anniversary in power in the wake of Donald Trump’s remarks on Taiwan independence. The State Council’s Taiwan Affairs Office (TAO) said on Tuesday that Lai’s anniversary speech and his subsequent remarks to reporters were filled with “lies and deception, ho...
Beijing has accused Taiwanese leader William Lai Ching-te of “destroying cross-strait peace” shortly after he gave a speech to mark his second anniversary in power in the wake of Donald Trump’s remarks on Taiwan independence. The State Council’s Taiwan Affairs Office (TAO) said on Tuesday that Lai’s anniversary speech and his subsequent remarks to reporters were filled with “lies and deception, hostility and confrontation”. Spokesman Chen Binhua said Lai had “stubbornly adhered to the erroneous stance of Taiwan independence”, and promoted what Beijing called the fallacies of “sovereign independence” and “mutual non-subordination”. Advertisement Lai had once again proven himself to be an outright “destroyer of cross-strait peace” and a “maker of Taiwan Strait crises”, Chen said. The tough talk came after US President Donald Trump said last week he did not support Taiwan independence and was “not looking to have somebody go independent”, remarks that reignited debate on the island over whether Taipei could be left out in the cold in a broader US-China bargain. Advertisement Lai’s televised speech appeared to be aimed at addressing those concerns by portraying his administration as firm but measured in defending the island against pressure from Beijing.
A professor of psychobiology argues that art – from painting to theatre – has a measurable impact on our health After Daisy Fancourt’s daughter Daphne was born prematurely, she was confined to an incubator, fighting for her life against a series of infections. Unable to touch her baby or even properly enter the room, Fancourt kept vigil just inside the door, dressed head to toe in PPE, singing lul...
A professor of psychobiology argues that art – from painting to theatre – has a measurable impact on our health After Daisy Fancourt’s daughter Daphne was born prematurely, she was confined to an incubator, fighting for her life against a series of infections. Unable to touch her baby or even properly enter the room, Fancourt kept vigil just inside the door, dressed head to toe in PPE, singing lullabies over the whir of instruments and alarms. The songs calmed her, and may have been crucial for Daphne too. Studies show that singing to babies in intensive care reduces their heart rate, improves their breathing, and encourages them to feed. It was a moment when Fancourt’s professional and personal lives collided. A professor of psychobiology and epidemiology at University College London, she researches how social connections and behaviours affect our health. In Art Cure, her first book for a popular audience, she aims to make a scientific case that the arts – from playing music to theatre-going to painting – aren’t a merely aesthetic aspect of life. Instead, they are deeply entwined with our mental and physical wellbeing at every level – from the workings of our cells and molecules to cognition, memory and mood. In an era of shrinking arts funding and overstretched healthcare systems, her message is urgent. But how to compile rigorous evidence for something as holistic, indefinable – and, perhaps, resolutely unscientific – as art? Continue reading...
A New York exhibit of more than 3,000 volumes bills itself as ‘an exercise in radical transparency’ – and a bid for attention This February, a story broke that seemed like it might finally be the one . Reporters at NPR had noticed that there were pages missing from the enormous tranche of Epstein files released by the Department of Justice. Further reporting revealed that the files in question wer...
A New York exhibit of more than 3,000 volumes bills itself as ‘an exercise in radical transparency’ – and a bid for attention This February, a story broke that seemed like it might finally be the one . Reporters at NPR had noticed that there were pages missing from the enormous tranche of Epstein files released by the Department of Justice. Further reporting revealed that the files in question were 2019 FBI interviews with a woman who claimed to have been sexually abused by Jeffrey Epstein and Donald Trump when she was a minor. The justice department had no good explanation for why the documents had been withheld. Trump issued blanket denials. It was all starting to feel like a good old-fashioned something-gate, the kind of scandal that might even bring down a presidency. But then, as with so many other stories in the era of Trump, its spark was subsumed by a new fire. On 28 February, Trump launched an unprovoked and likely illegal war against Iran, and the Epstein files were once again pushed off the front pages. Continue reading...