reports
Arista Networks to Announce Q2 2024 Financial Results on Tuesday, July...
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Arista Networks, Inc. (NYSE: ANET) will release its financial results for the quarter ended June 30th, 2024 after U.S. markets close on Tuesday, July 30th, 2024. The results will be included in a press release with accompanying financial information that will be posted on the Investor Relations section of the Arista website at . Arista’s executive management team will host a conference call on July 30th, beginning at 1:30 p.m. PT (4:30 p.m. ET) to discuss financial results and business highlights. Interested parties may access the call by dialing (888) ...
- Ben Harwood
- Pierre FerraguÊ
Didi’s resurgence in Latin America. What next?
Didi is increasing investments in Latin America to boost growth ahead of an IPO in early 2025. Uber is increasing investments in response to maintain share. This move is not unprecedented. We have seen Lyft and GoJek make similar moves in the US and Southeast Asia prior to their IPOs. During that period, both companies and their competitors experienced short-term margin pressure. However, competitive dynamics prevailed. There were minimal market share shifts, and the #2 quickly reined in investm...
Arista Networks Inc: 1 director
A director at Arista Networks Inc sold 25,000 shares at 347.000USD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cl...
- Jan Frederik Slijkerman
TMT hybrid yields still attractive/Buying opportunity on market softne...
In this report we evaluate spreads in the TMT hybrids space. Over the year, TMT hybrid notes have outperformed. Nevertheless, we still like this hybrid space as it offers a good yield. From a spread perspective, we continue to think the tightening potential over senior is more limited, although the small recent widening makes hybrids a bit more attractive.
- Pierre FerraguÊ
The AI PC, Part I: Arm in PCs – different this time?
Over the last few weeks, there have been several announcements related to AI PCs and new PC SoCs to power them, from Qualcomm (Arm) and AMD/Intel (x86). In this note, we look at the setup for Arm. Is there an opportunity to break through, or will the alternative architecture again hit ecosystem walls? In a second note, we will look at whether AI PCs could trigger a refresh cycle.
- Farid Bitari
- Ghada Ben Sedrine
- Nicolas David
- Stephane Houri
ODDO : Generative AI: a genuine revolution, pending the next revolutio...
Our conviction on the long-term growth potential and opportunities of generative AI is renewed. The enabler sectors (semiconductors, software and IT services) and those that provide the infrastructure (utilities, metals, capital goods and real estate) will be the primary beneficiaries, leading us to make certain target price changes. Among AI ‘user’ sectors (media, healthcare, automotive, banking and insurance, oil services, defence, aerospace and airlines), the effects will doub...
LR LEGRAND SA
BMW BAYERISCHE MOTOREN WERKE AG
REL RELX PLC
PUB PUBLICIS GROUPE SA
VIE VEOLIA ENVIRONNEMENT SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
SOP SOPRA STERIA GROUP SA
BNP BNP PARIBAS SA CLASS A
RNO RENAULT SA
ACN ACCENTURE PLC CLASS A
NOVN NOVARTIS AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
INF INFOTEL SA
GLE SOCIETE GENERALE S.A. CLASS A
NOKIA NOKIA OYJ
TEP TELEPERFORMANCE SE
WKL WOLTERS KLUWER NV
AUB AUBAY SA
MRK MERCK KGAA
ALTA ALTAREA SCA
ATE ALTEN SA
RWE RWE AG
SAN SANOFI
NEX NEXANS SA
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
ENEL ENEL SPA
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
ICAD ICADE SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
TIETO TIETOEVRY OYJ
NDA AURUBIS AG
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
PRY PRYSMIAN S.P.A.
IBE IBERDROLA SA
OREGE OREGE SA
SMHN SUESS MICROTEC AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
CLNX CELLNEX TELECOM S.A.
VACN VAT GROUP AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
IDR INDRA SISTEMAS S.A. CLASS A
RIO RIO TINTO PLC
SAP SAP SE
AZN ASTRAZENECA PLC
SIE SIEMENS AG
BHP BHP GROUP LTD
ASML ASML HOLDING NV
REY REPLY S.P.A.
STM STMICROELECTRONICS NV
SHL SIEMENS HEALTHINEERS AG
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
STLA STELLANTIS N.V.
DSY DASSAULT SYSTEMES SA
OVH OVH GROUPE
ATCO A ATLAS COPCO AB
IOS IONOS GROUP SE
ARM ARM HOLDINGS PLC
UN0 UNIPER SE
- Farid Bitari
- Ghada Ben Sedrine
- Nicolas David
- Stephane Houri
ODDO : L’IA générative, une véritable révolution, en attendant la proc...
Notre conviction sur le potentiel de croissance LT et d’opportunités de l’IA générative est renforcée. Les secteurs 'enablers' (semiconducteurs, software et IT services) et fournisseurs d’infrastructures (utilities, métaux, biens d'équipements et immobilier) en seront les premiers bénéficiaires, conduisant à certains changements d’OC. Parmi les secteurs ‘utilisateurs’ de l’IA (média, santé, automobile, banque et assurance, services pétroliers, défense, aéronautique et compagnies ...
LR LEGRAND SA
BMW BAYERISCHE MOTOREN WERKE AG
REL RELX PLC
PUB PUBLICIS GROUPE SA
VIE VEOLIA ENVIRONNEMENT SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
SOP SOPRA STERIA GROUP SA
BNP BNP PARIBAS SA CLASS A
RNO RENAULT SA
ACN ACCENTURE PLC CLASS A
NOVN NOVARTIS AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
INF INFOTEL SA
GLE SOCIETE GENERALE S.A. CLASS A
NOKIA NOKIA OYJ
TEP TELEPERFORMANCE SE
WKL WOLTERS KLUWER NV
AUB AUBAY SA
MRK MERCK KGAA
ALTA ALTAREA SCA
ATE ALTEN SA
RWE RWE AG
SAN SANOFI
NEX NEXANS SA
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
ENEL ENEL SPA
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
ICAD ICADE SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
TIETO TIETOEVRY OYJ
NDA AURUBIS AG
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
PRY PRYSMIAN S.P.A.
IBE IBERDROLA SA
OREGE OREGE SA
SMHN SUESS MICROTEC AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
CLNX CELLNEX TELECOM S.A.
VACN VAT GROUP AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
IDR INDRA SISTEMAS S.A. CLASS A
RIO RIO TINTO PLC
SAP SAP SE
AZN ASTRAZENECA PLC
SIE SIEMENS AG
BHP BHP GROUP LTD
ASML ASML HOLDING NV
REY REPLY S.P.A.
STM STMICROELECTRONICS NV
SHL SIEMENS HEALTHINEERS AG
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
STLA STELLANTIS N.V.
DSY DASSAULT SYSTEMES SA
OVH OVH GROUPE
ATCO A ATLAS COPCO AB
IOS IONOS GROUP SE
ARM ARM HOLDINGS PLC
UN0 UNIPER SE
- Pierre FerraguÊ
The Tech Infrastructure Quarterly Bible 1Q24
We publish today our comprehensive quarterly bible: 224 pages of detailed analyses on what happened in the last 3 months, and how we interpret it, in light of our current convictions. The first section acts as a PM summary, outlining our key findings, and latest thoughts on the semi cycle, in 6 slides:
ANET ARISTA NETWORKS INC.
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
TSLA TESLA INC
PANW PALO ALTO NETWORKS INC.
NVDA NVIDIA CORPORATION
MU MICRON TECHNOLOGY INC.
LRCX LAM RESEARCH CORPORATION
INTC INTEL CORPORATION
AMAT APPLIED MATERIALS INC.
NOKIA NOKIA OYJ
BSI BE SEMICONDUCTOR INDUSTRIES N.V.
2330 TSMC
SOI SOITEC SA
9984 SOFTBANK GROUP CORP.
8035 TOKYO ELECTRON LTD.
KLAC KLA CORPORATION
CSCO ASML HOLDING N.V.
ASML CISCO SYSTEMS INC.
MBLY ASML HOLDING NV
AMD MOBILEYE NV
AAPL ADVANCED MICRO DEVICES INC.
MSFT APPLE INC.
AVGO MICROSOFT CORPORATION
SOH1 BROADCOM INC.
BESI SOITEC
UBER UBER TECHNOLOGIES INC.
ERIC.B ERICSSON
ERIC-B ERICSSON LM-B SHS
ERICB EU GRABTAXI HOLDINGS PTE LTD
0967655D UBER TECHNOLOGIES INC
0084207D BE SEMICONDUCTOR (SWISS)
BSIB WOLFSPEED INC
WOLF GRAB HLDGS LTD
GRAB ARM HOLDINGS PLC
ARM ARMEYSKI HLDG AD
- Pierre FerraguÊ
Bible 1Q24: Enterprise IT –Stabilization in legacy, public cloud accel...
Today, we are publishing the Enterprise IT section of our 23rd Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 130 companies we track, providing an update on our key perspectives and convictions. There are signs of a timid recovery in traditional infrastructure spending as order flows have stabilized. Public cloud growth accelerated by a further 3pts, but outside of cloud, next-gen spending gr...
- Pierre FerraguÊ
Bible 1Q24 – Autos: Semi cycle hits. Time to buy the stocks.
Today, we are publishing the Automotive section of our 23rd Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 130 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish the last section on Enterprise IT. Auto semiconductor companies experienced their first YoY revenue decline since 2020, reflecting the ongoing inventory correction. We...
- Pierre FerraguÊ
Arista Unveils Etherlink AI Networking Platforms
NEW YORK--(BUSINESS WIRE)-- Arista Networks (NYSE: ANET), a leading provider of cloud and , today announced the , designed to deliver optimal network performance for the most demanding AI workloads, including training and inferencing. This press release features multimedia. View the full release here: Arista’s 800G Etherlink™ AI Portfolio (Photo: Business Wire) Powered by new AI-optimized features, the Arista Etherlink AI portfolio supports AI cluster sizes ranging from thousands to 100,000s of XPUs with highly efficient one and 2-tier network topologies that deliver superior application per...
- Pierre FerraguÊ
Bible 1Q24 – Industrials: Past the bottom, but the pace of recovery ma...
Industrial semiconductor revenues were down 20% YoY in 1Q24, declining sequentially for the sixth quarter in a row. 1Q24 is expected to be the trough with nearly all companies expecting sequential growth in the second half of the year, however elevated customer inventories and a correction in clean energy semiconductors could slow the pace of the recovery. We nevertheless remain bullish on the secular opportunity in industrial semis, particularly for power semis which will benefit from the persi...
- Pierre FerraguÊ
Arista Delivers Holistic AI Solutions in Collaboration with NVIDIA
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Arista Networks (NYSE: ANET) today announced a technology demonstration of AI Data Centers in order to align compute and network domains as a single managed AI entity, in collaboration with . In order to build optimal generative AI networks with lower job completion times, customers can configure, manage, and monitor AI clusters uniformly across key building blocks including networks, NICs, and servers. This demonstrates the first step in achieving a multi-vendor, interoperable ecosystem that enables control and coordination between AI networking and AI c...
- Pierre FerraguÊ
Bible 1Q24 – Hyperscale & Cloud: Capex keeps revising up, making room ...
Today, we are publishing the Hyperscale & Cloud section of our 23rd Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 130 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Automotive, Telecom Equipment, Industrials, PCs, Enterprise IT, and Ride sharing & Delivery. Cloud revenues accelerated further, driven by public c...
- Pierre FerraguÊ
- Pierre FerraguÊ
- Martin Marandon-Carlhian
- Stephane Houri
Arm Holdings plc : Arm remains the key vehicle to play the growing com...
>Outperform rating reiterated, target price increased to $ 130 (vs $ 110) - We did a recap with the company a few days after the release of its Q4 2023-24 results and came away with confirmation that Arm is set to continue to grow at an average of 20% per year over the next three years. Growth, as we wrote in our report initiating coverage of the stock, stems from an accelerated architecture complexification process, driven initially by the acceleration in significant...
- Martin Marandon-Carlhian
- Stephane Houri
Arm Holdings plc : Arm reste le véhicule clé pour jouer la complexific...
>Opinion Surperformance réitérée, OC relevé à 130 $ (vs 110 $) - Nous avons fait le point avec la société, quelques jours après la publication du T4 23/24, et ressortons confortés sur le fait que Arm devrait continuer de croître en moyenne de 20% par an sur les 3 prochains exercices. Cette croissance découle bien, comme nous l’avions indiqué lors de notre initiation, d’un process accéléré de complexification des architectures, tirée dans un 1er temps par l’accélérati...
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