Report
Pierre FerraguÊ

Tech Weekly-Wrap-Up August 20th: WFE revising upward again; Bumpy road to Wolfspeed's FY24 targets; Enterprise recovery playing out; Nvidia continue to beat

As always, during earnings season, we start on Mondays with a wrap-up of what happened in the previous week.

For our main takes summarized on a single slide, and a few words for each of the 8 names we followed last week, follow the link below:
Underlyings
Applied Materials Inc.

Applied Materials provides manufacturing equipment, services and software to the semiconductor, display and related industries. The company's segments are: Semiconductor Systems, which develops, manufactures and sells a range of manufacturing equipment used to fabricate semiconductor chips; Applied Global Services, which provides integrated solutions to support equipment and fab performance and productivity; and Display and Adjacent Markets, which is comprised of products for manufacturing liquid crystal displays, organic light-emitting diodes and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices.

Cisco Systems Inc.

Cisco Systems designs and sells a range of technologies that power the Internet. The company's business is organized into the following three geographic segments: Americas; Europe, Middle East, and Africa; and Asia Pacific, Japan, and China. The company's products and technologies are grouped into the following categories: Infrastructure Platforms; Applications; Security and Other Products. In addition to its product offerings, the company provides a range of service offerings, including technical support services and other services. The company delivers its technologies through software and services. The company's customers include businesses of all sizes, public institutions, governments, and service providers.

Cree Inc.

Cree is a provider of bandgap semiconductor products for power and radio-frequency (RF) applications and lighting-class light emitting diode (LED) products. The company's products are used for applications such as transportation, power supplies, inverters, wireless systems, indoor and outdoor lighting, electronic signs and signals and video displays. The company operates in two segments: Wolfspeed, which consists of silicon carbide and gallium nitride (GaN) materials, power devices and RF devices based on silicon and bandgap semiconductor materials; and LED Products, which consists of LED chips and LED components. The company's LED chip products include blue and green LED chips based on GaN and related materials.

NVIDIA Corporation

NVIDIA engages in graphics processing unit (GPU)-based visual computing and accelerated computing platforms. The company has two segments, GPU and Tegra Processor, which are based on a single underlying architecture. The company's GPU product brands are aimed at markets including GeForce for gamers; Quadro for designers; Tesla and DGX for artificial intelligence data scientists and big data researchers; and GRID for cloud-based visual computing users. The company's Tegra brand integrates an entire computer onto a single chip, and incorporates GPUs and multi-core CPUs to drive supercomputing for autonomous robots, drones, and cars, as well as for game consoles and mobile gaming and entertainment devices.

Provider
New Street Research
New Street Research

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Analysts
Pierre FerraguÊ

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