BofA Securities Reiterates Buy Rating on Amazon.com (AMZN), PT $210, 'we think AWS remains well-positioned'

Amazon.com (AMZN) PT Raised to $240 at Evercore ISI

September 19, 2024 4:11 PM EDT

Evercore ISI analyst Mark Mahaney raised the price target on Amazon.com (NASDAQ: AMZN) to $240.00 (from $225.00) while maintaining a Outperform rating.

The analyst comments "Our View: We are reiterating our Outperform on AMZN and raising our PT from $225 to $240 (based on 35X our 26 EPS of approx. $7.00 and 25X our 26 FCF of approx. $100B). AMZN remains our #1 Large Cap Long. In this report, we focus on Amazons ramped up focus and opportunity with Prime Video. Amazon has... More

Wolfe Research on Intel (INTC): 'We don’t think spinning out the manufacturing business makes sense', 'Amazon agreement positive'

September 17, 2024 9:11 AM EDT

Wolfe Research analyst Chris Caso reiterated a Peerperform rating on Intel (NASDAQ: INTC).

The analyst comments "We dont think spinning out the manufacturing business makes sense, since the manufacturing and chip businesses are inextricably linked. INTC announced the formal split of manufacturing business into a separate entity, which is consistent with what INTC has said in the past. INTC management feels that separation is necessary to make potential foundry customers comfortable that the businesses are separate, that customers IP and interests will be protected, and it also allows managers in the chip... More

Truist Securities Reiterates Hold Rating on Intel (INTC)

September 17, 2024 8:49 AM EDT

Truist Securities analyst William Stein reiterated a Hold rating and $25.00 price target on Intel (NASDAQ: INTC).

The analyst comments "AMC on 9/16, CEO Pat Gelsinger published a letter to Intel employees highlighting the next phase of the company's transformation following its last Board meeting.... More

Stifel Reiterates Buy Rating on Marvell (MRVL), 'impact on MRVL is likely to remain minimal'

September 17, 2024 8:45 AM EDT

Stifel analyst Tore Svanberg reiterated a Buy rating and $95.00 price target on Marvell (NASDAQ: MRVL).

The analyst comments "INTC announced the expansion of its custom chip partnership with AWS, with a multiyear, multi-$bn framework covering products and wafers from... More

Active options: AMZN META MSFT MU AVGO PFE GOOGL U MPW BA OPEN SMCI

September 17, 2024 5:07 AM EDT

Active options: AMZN META MSFT MU AVGO PFE GOOGL U MPW BA OPEN SMCI

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Marvell Technology (MRVL) declined 2% following Intel's deal with AWS

September 16, 2024 4:31 PM EDT

Marvell Technology (NASDAQ: MRVL) declined 2% following Intel's deal with AWS.

Intel Corp. (NASDAQ: INTC) and Amazon Web Services. Inc. (AWS), an Amazon.com company (NASDAQ: AMZN), today announced a co-investment in custom chip... More

Intel (INTC) and AWS (AMZN) Expand Strategic Collaboration, Intel to Produce Chips for AWS

September 16, 2024 4:01 PM EDT

(Updated - September 16, 2024 4:03 PM EDT)

Intel Corp. (NASDAQ: INTC) and Amazon Web Services. Inc. (AWS), an Amazon.com company (NASDAQ: AMZN), today announced a co-investment in custom chip designs under a multi-year, multi-billion-dollar framework covering product and wafers from Intel. This is a significant expansion of the two companies longstanding strategic collaboration to help customers power virtually any workload and accelerate the performance of artificial intelligence (AI) applications.

As part of the... More

Goldman Trading Desk Says It’s Time to Buy the Dip in AI Stocks - Bloomberg

September 16, 2024 2:49 PM EDT

Goldman Trading Desk Says Its Time to Buy the Dip in AI Stocks - Bloomberg

'There's too much pessimism around AI': Goldman's Mourad... More

Active options: AMZN MSFT META AVGO GOOGL MPW MU BA SMCI PFE WMT

September 16, 2024 2:46 PM EDT

Active options: AMZN MSFT META AVGO GOOGL MPW MU BA SMCI PFE WMT

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Amazon mandates five days a week in office starting next year

September 16, 2024 1:40 PM EDT

By Greg Bensinger

(Reuters) -Amazon.com will require employees to return to working at company offices five days per week beginning next year, toughening a prior three-day mandate.

The change is necessary to "invent, collaborate and be connected" wrote CEO Andy Jassy in a letter to employees on Monday posted to its website. He said the experience of a three-day mandate "strengthened our conviction about the benefits" of in-office work.

Companies have been allowing many employees to work from home since the pandemic, leaving downtown offices nearly empty in... More

Amazon (AMZN) CEO Jassy issues update, tell staff to return to office five days a week

September 16, 2024 1:32 PM EDT

(Updated - September 16, 2024 1:38 PM EDT)

Update from Amazon's (NASDAQ: AMZN) CEO Andy Jassy posted on the company's website:

Hey team. I wanted to send a note on a couple changes were making to further strengthen our culture and teams.

First, for perspective, I feel good about the progress were making together. Stores, AWS, and Advertising continue to grow on very large bases, Prime Video continues to expand, and new investment areas like GenAI, Kuiper, Healthcare, and several others are evolving nicely. And at the same... More

Etsy (ETSY) Shares +7% on White House De Minimis Exemption, BofA Out Saying 'Could ease ad pressures from Chinese competitors, Good for platform'

September 13, 2024 2:16 PM EDT

BofA Securities analyst Curtis Nagle reiterated a Neutral rating and $61.00 price target on Etsy (NASDAQ: ETSY).

The analyst comments "We believe the largest benefit to Etsy from the reported rule changes would come from reduced advertising costs, with Etsy referencing in 3Q23 that Chinese competitors were driving up the cost of performance marketing. Similarweb data suggests... More

Biden Administration To Take Steps To Curb Chinese Low-value Package Shipments To U.S. Through $800 "De Minimis" Trade Exemption- White House - Reuters

September 13, 2024 7:38 AM EDT

(Updated - September 13, 2024 7:40 AM EDT)

Biden Administration To Take Steps To Curb Chinese Low-value Package Shipments To U.S. Through $800 "De Minimis" Trade Exemption- White House - Reuters

Moving to curb a growing tide of low-value shipments entering the U.S. duty-free under the $800 "de minimis" threshold.

... More

China's online retailers Shein, Temu in focus as US aims to plug trade "loophole"

September 13, 2024 7:07 AM EDT

By David Lawder

(Reuters) -The Biden administration said on Friday it was moving to curb low-value shipments entering the U.S. duty-free under the $800 "de minimis" threshold that has been exploited by Chinese e-commerce firms such as Shein and PDD Holdings' Temu.

White House officials said they will propose a new rule to deny the exemption to packages that contain low-value goods subject to Section 301 tariffs on Chinese goods, Section 232 tariffs on steel and aluminum products and Section 201 on "safeguard" tariffs on products including solar products and washing machines.

The proposed trade rule includes the need for... More

Oracle shares rise further to record high on bumper AI-fueled forecast

September 13, 2024 3:04 AM EDT

Investing.com-- Shares of Oracle Corporation (NYSE: ORCL) surged in aftermarket trade on Thursday, pushing further into record-high territory after the cloud computing firm flagged strong revenue growth in the coming years on artificial intelligence demand. 

Oracle jumped 6.4% to an... More