reports
- Pierre FerraguÊ
- Wedbush Research
WDC WESTERN DIGITAL CORPORATION
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
RARE ULTRAGENYX PHARMACEUTICAL INC.
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
NBIX NEUROCRINE BIOSCIENCES INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
FATE FATE THERAPEUTICS INC
CRM SALESFORCE.COM INC.
BIIB BIOGEN INC.
AXTI AXT INC.
ASND ASCENDIS PHARMA A/S SPONSORED ADR
ARDX ARDELYX INC
NFLX NETFLIX INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
ARGX ARGENX ADS
MDB MONGODB INC. CLASS A
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
ZS ZSCALER INC.
CRWD CROWDSTRIKE HOLDINGS INC. CLASS A
STOK STOKE THERAPEUTICS
SMCI SUPER MICRO COMPUTER
ACET INC.
PLTR ADICET BIO INC
SANA PALANTIR TECHNOLOGIES
SNOW SANA BIOTECHNOLOGY
STX SNOWFLAKE INC. CLASS A
GFS SEAGATE TECHNOLOGY HLDGS PLC
MLTX GLOBALFOUNDRIES INC
TYRA MOONLAKE IMMUNOTHERAPEUTICS
EWTX TYRA BIOSCIENCES INC
ARTV EDGEWISE THERAPEUTICS INC
DBD ARTIVA BIOTHERAPEUTICS INC
BCAX DIEBOLD NIXDORF INCORPORATED
AVTX BICARA THERAPEUTICS INC.
AVALO THERAPEUTICS INC
- Seth Basham
- Pierre FerraguÊ
ANET ARISTA NETWORKS INC.
NVDA NVIDIA CORPORATION
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
MRVL MARVELL TECHNOLOGY GROUP LTD.
CSCO CISCO SYSTEMS INC.
5930 SAMSUNG ELECTRONICS CO LTD
JNPR JUNIPER NETWORKS INC.
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
AVGO BROADCOM INC.
660 SK HYNIX INC
- Pierre FerraguÊ
- Wedbush Research
TRIP TRIPADVISOR INC.
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
QLYS QUALYS INC.
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NVCR NOVOCURE LTD.
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FTNT FORTINET INC.
FB FACEBOOK INC. CLASS A
EXPE EXPEDIA GROUP INC.
BIIB BIOGEN INC.
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
ROKU ROKU INC. CLASS A
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
BKNG BOOKING HOLDINGS INC.
DNLI DENALI THERAPEUTICS INC
SMCI SUPER MICRO COMPUTER
PASG INC.
CRSR PASSAGE BIO
ABNB CORSAIR GAMING
RBLX AIRBNB INC. CLASS A
STX ROBLOX
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Chase Tohanczyn
- Daniel Ives
- Matthew Weiss
- Scott Devitt
Prove It Mode Triggered; OP, $300 PT
Figure 1. 4Q25 ResultsSource: Company reports, Wedbush estimates, FactSet consensusGuidance notes: 4Q total revenue guidance of $206B to $213B; 4Q operating income guidance of $21B to $26B.Amazon reported healthy 4Q results. Total revenue grew +13.6% Y/Y to $213.4B, ~90bps ahead of St. estimates ca
- Dan Salmon
Amazon (Buy, $350 target) Expect faster, higher margin returns on AWS ...
In this first take following tonight’s results, we focus on: 1. Capex guide overshadows AWS acceleration 2. 1Q26 revenue guide brackets consensus, operating income guide comes in below 3. 2026 Capex guidance well ahead of expectations with high conviction in ROIC 4. AWS revenue growth beats and we expect acceleration to continue 5. International retail growth strong as Whole Foods expands 6. Rufus, “horizontal” agents and the future of Amazon advertising
- Wedbush Research
TTWO TAKE-TWO INTERACTIVE SOFTWARE INC.
TSLA TESLA INC
STAA STAAR SURGICAL CO.
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
PEGA PEGASYSTEMS INC.
PANW PALO ALTO NETWORKS INC.
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
IMAX IMAX CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
CHKP CHECK POINT SOFTWARE TECHNOLOGIES LTD.
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
CCRN CROSS COUNTRY HEALTHCARE INC.
WVE WAVE LIFE SCIENCES
ROKU ROKU INC. CLASS A
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
IBM INTERNATIONAL BUSINESS MACHINES CORPORATION
CRWD CROWDSTRIKE HOLDINGS INC. CLASS A
SMCI SUPER MICRO COMPUTER
PLTR INC.
VRDN PALANTIR TECHNOLOGIES
IMNM VIRIDIAN THERAPEUTICS INC
STX IMMUNOME
TASK SEAGATE TECHNOLOGY HLDGS PLC
GFS TASKUS INC
TYRA GLOBALFOUNDRIES INC
SGMT TYRA BIOSCIENCES INC
SAGIMET BIOSCIENCES INC
- Wedbush Research
TTWO TAKE-TWO INTERACTIVE SOFTWARE INC.
TSLA TESLA INC
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PANW PALO ALTO NETWORKS INC.
IMAX IMAX CORPORATION
FB FACEBOOK INC. CLASS A
WVE WAVE LIFE SCIENCES
ROKU ROKU INC. CLASS A
AMZN AMAZON.COM INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
IBM INTERNATIONAL BUSINESS MACHINES CORPORATION
CRWD CROWDSTRIKE HOLDINGS INC. CLASS A
VRDN VIRIDIAN THERAPEUTICS INC
TYRA TYRA BIOSCIENCES INC
- Wedbush Research
TTWO TAKE-TWO INTERACTIVE SOFTWARE INC.
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
INOD INNODATA
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
ISR ISORAY
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
UBER UBER TECHNOLOGIES INC.
SMCI SUPER MICRO COMPUTER
PASG INC.
ABNB PASSAGE BIO
RBLX AIRBNB INC. CLASS A
STX ROBLOX
QUBT SEAGATE TECHNOLOGY HLDGS PLC
GFS QUANTUM COMPUTING INC
RGTI GLOBALFOUNDRIES INC
QBTS RIGETTI COMPUTING INC
IONQ D-WAVE QUANTUM INC.
SNDK IONQ INC
SANDISK CORP
- Pierre FerraguÊ
Tracking the return on AI investment: How is the replatforming going a...
Our replatforming framework is about measuring how increasing capital intensity drives revenue growth and efficiency improvement. Meta and Microsoft reported yesterday, and we track their replatforming performance by assessing how the growth gap between cash costs and revenue creates headroom for higher depreciation, in a single slide.
- Michael Piccolo
Daily Recap: WBD/NFLX, ALKT, VSEC, IP, MOD/THRM, JOBY, INMD, AES, HON,...
Warner Bros. Discovery, Inc. (WBD - $27.98) and Netflix Inc. (NFLX - $84.64)News Reports Paramount Is Not Prepared to Bid Higher. According to Variety, David Ellison's Paramount Skydance (PSKY) has pursued a hostile $30-per-share all-cash takeover bid for WBD (total enterprise value of $108.4 billi
- Wedbush Research
TTWO TAKE-TWO INTERACTIVE SOFTWARE INC.
TSLA TESLA INC
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
BIIB BIOGEN INC.
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
IBM INTERNATIONAL BUSINESS MACHINES CORPORATION
SMCI SUPER MICRO COMPUTER
FUBO INC.
AI FUBOTV
STX C3.AI
GFS SEAGATE TECHNOLOGY HLDGS PLC
IONQ GLOBALFOUNDRIES INC
IONQ INC
- Chase Tohanczyn
- Daniel Ives
- Matthew Weiss
- Scott Devitt
- Pierre FerraguÊ
What returns to expect on Cloud AI?
After a string of multi-GW contracts and capex announcements, the attractiveness of cloud AI returns remains a hot question amongst investors. In this report, we build a simple framework to answer that question. We estimate Cloud AI returns from CSP disclosures and what we know about large real-world contracts, and benchmark them against what we know about the economics of traditional cloud.
NOW SERVICENOW INC.
DAI DAIMLER AG
WDC WESTERN DIGITAL CORPORATION
TER TERADYNE INC.
STX SEAGATE TECHNOLOGY PLC
MPWR MONOLITHIC POWER SYSTEMS INC.
GOOGL ALPHABET INC. CLASS A
GLW CORNING INC
FB FACEBOOK INC. CLASS A
EQIX EQUINIX INC.
CTSH COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION CLASS A
AVT AVNET INC.
ARW ARROW ELECTRONICS INC.
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
ASM PACIFIC TECHNOLOGY LIMITED
6723 RENESAS ELECTRONICS CORPORATION
8035 TOKYO ELECTRON LTD.
MELE MELEXIS NV
KLAC KLA CORPORATION
UMCB UNITED MICROELECTRONICS CORP (ADR)
AMZN AMAZON.COM INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
VOW VOLKSWAGEN (VOW GR)
CKP CHECKPOINT SYSTEMS INC
NET CLOUDFLARE INC CLASS A
CADE CADENCE BANK
TEAM ATLASSIAN CORPORATION
CLS CELESTICA INC.
5930 SAMSUNG GROUP
- Wedbush Research
WDC WESTERN DIGITAL CORPORATION
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
PANW PALO ALTO NETWORKS INC.
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
CRM SALESFORCE.COM INC.
AXTI AXT INC.
NFLX NETFLIX INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
EA ELECTRONIC ARTS INC.
NTLA INTELLIA THERAPEUTICS INC.
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
GM GENERAL MOTORS COMPANY
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
IBM INTERNATIONAL BUSINESS MACHINES CORPORATION
TSEM TOWER SEMICONDUCTOR LTD
PINS PINTEREST INC. CLASS A
UBER UBER TECHNOLOGIES INC.
SMCI SUPER MICRO COMPUTER
RVMD INC.
AI REVOLUTION MEDICINES
STX C3.AI
GFS SEAGATE TECHNOLOGY HLDGS PLC
QBTS GLOBALFOUNDRIES INC
IONQ D-WAVE QUANTUM INC.
CART IONQ INC
MAPLEBEAR INC.
- Chase Tohanczyn
- Daniel Ives
- Matthew Weiss
- Scott Devitt
- Dan Salmon
The Trade Desk (TTD, Neutral, target lowered to $35) CFO that recommen...
This morning, TTD announced that CFO Alex Kayyal is being replaced on an interim basis by Chief Accounting Officer Tahnil Davis. 4Q25 guidance was also re-affirmed and the earnings date was announced for February 25. We also had the opportunity to briefly speak with management after the release.
- Dan Salmon
Shopify (SHOP, Neutral, $155 target) Amazon (AMZN, Buy/Top Pick, $350 ...
Earlier this week, the Information reported (and a company spokesperson confirmed) that on January 26th, SHOP will begin making merchants’ products widely available for purchase through checkout features in OpenAI’s ChatGPT, GOOGL’s AI Mode and Gemini, and MSFT Copilot. SHOP merchants will begin being surfaced on Gemini, AI Mode and Copilot by default, whereas they will be required to opt into selling on ChatGPT, and OpenAI will receive a 4% take rate on any ChatGPT sales. In this brief note, w...
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