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Wall Street analysts are increasingly bullish on this chip stock. Here's why May 6, 2024 11:24AM

Analysts at Morgan Stanley and Mizuho are becoming more bullish on a certain semiconductor chip stock, with one saying it is now their "favorite long in all tech."

An analyst at Mizuho said Silicon Motion (NASDAQ: NASDAQ: SIMO) is now his favorite name in tech for the time being, stating that the set-up into the second half of this year and is "looking excellent for real alpha generation."

The firm notes that SIMO has generated positive free cash flow over the last four... (continue reading...)

Reddit stock: BofA revists RDDT after a blockbuster IPO May 6, 2024 11:24AM

With the recent blockbuster IPO of Reddit, the social media platform, investors and analysts are revisiting their outlook on the stock. Bank of America (BofA), a prominent player in the financial sector, is among those closely scrutinizing Reddit's trajectory post-initial public offering, raising its target for the company’s shares in a note Monday.

Reddit IPO

Reddit went public in a much-anticipated initial public offering (IPO) on March 21, 2024. 

The social media... (continue reading...)

Midday movers: Apple slips; Palantir and Micron gain May 6, 2024 11:21AM (Updated - May 6, 2024 11:21 AM EDT)

Investing.com -- Main U.S. indexes rose Monday, adding to recent gains amid hopes the Fed will begin cutting interest rates later this year following soft jobs data last week.

Here are some of the biggest U.S. stock movers today:

Apple (NASDAQ: AAPL) shares declined 0.7%, retreating from gains in the prior two sessions, after Warren Buffett's Berkshire Hathaway (NYSE:BRKa) slashed its stake in the iPhone maker.

Paramount Global's... (continue reading...)

Palantir stock: Here's what Wall Street expects from the upcoming earnings report May 6, 2024 10:22AM

As anticipation mounts ahead of Palantir Technologies (NYSE: PLTR)' earnings report scheduled for today after the close, investors and analysts alike are eagerly awaiting insights into the company's performance and future trajectory. 

Palantir, a leading data analytics firm, has garnered significant attention in recent years, both for its technologies and its fluctuating stock performance.

The stock is up more than 5% so far on Monday. Here's what analysts expect: 

An... (continue reading...)

AMD to see revenue, profits improve in H2 amid AI chip ramp-up - Phillip May 6, 2024 10:21AM

Investing.com -- Chipmaker Advanced Micro Devices (NASDAQ: AMD) is likely to see revenue and post-tax profit improve in the second half of 2024 thanks in part to a ramp-up in demand for its MI300X artificial intelligence processors, according to analysts at Phillip Securities.

Wall Street has soaring expectations for AMD's AI ambitions, particularly in the wake of the success of rival Nvidia's (NASDAQ: NVDA) semiconductors that have become integral in a recent boom of... (continue reading...)