We think Apple will resume mid-single-digit sales growth in fiscal 2020 despite the potential for continued weakness in China.
The wide-moat firm's results were modestly below expectations, but shares look cheap today.
Near-term headwinds weighed on the chipmaker, but our long-term thesis is intact.
We remain positive on the firm's prospects and see an attractive margin of safety relative to our fair value estimate.
Shares of the narrow-moat firm are undervalued, but we believe Intel offers a superior opportunity.
New graphics processing unit, the RTX 2060, is well positioned for mainstream gamers.
The company showcased a bevy of promising initiatives, and patient investors may find current price levels attractive.
Our fair value estimate for the iPhone maker is unchanged as stronger services and wearables revenue should offset China weakness.
Despite menacing headwinds for iPhone in China, the firm still can better monetize its existing user base and we see Apple shares as undervalued.
The market continues to overreact to softer than expected guidance, pushing Apple into 4-star territory.
We model fiscal 2019 to be down considerably, but we expect a solid recovery thereafter thanks to the proactive efforts of the key memory participants.
Longer term, we think Broadcom is part of the heavyweight class of chip leaders and boasts intangible assets.
Our fair value estimate remains unchanged for the narrow-moat firm.
Shares for the narrow-moat firm are not cheap, and we suggest a wider margin of safety for prospective investors.
Expectations of a more tepid holiday quarter have sent shares of the wide-moat firm lower, but we’d wait for a more attractive price before diving in.
Investors should find shares of the chip titan enticing after a record quarter.
We think customers will look past the nanometer headlines.
The smartphone titan is doubling down on its premium price strategy after raising the bar on price last year with the iPhone X.
We see attractive entry points for some wide-moat chipmakers.
Most major segments (aside from wireless) exhibited solid year-over-year growth, illustrating the company's breadth of offerings.
For the first time in years, the narrow-moat firm's revenue range fell below consensus estimates.
Apple turned in a record quarter, but the firm's place at the top of food chain in the smartphone market is already fully reflected in the stock price.
The iPhone X, 8 and 8 plus pushed average selling price up an impressive 20% in the quarter, but we think investors should wait for a more attractive entry point.
With the recent sell-off, we think Intel offers a compelling investment opportunity.
The deal to acquire CA Technologies doesn't have any clear synergies, but the premium Broadcom is paying is modest for a tech merger.
Switching costs are strong, but not necessarily getting stronger.
We're maintaining our fair value estimate and wide moat rating for the chip titan and view shares as undervalued.
We modestly increased our fair value estimate due to superior near-term expectations, but shares are materially overvalued.
An offer in the realm of our fair value estimate would represent a sufficient premium for current shareholders of no-moat Synaptics.
The narrow-moat firm is poised to capitalize on its leadership positions to drive future growth and potential accretive acquisitions.
The memory supplier is well-positioned, but we continue to view shares as significantly overvalued.
The narrow-moat GPU leader maintained its streak of estimate-beating results, but shares are absurdly priced.
The chip titan’s comprehensive product portfolio is delivering growth on every front despite a declining PC market.
The news that Apple may develop its own PC chips doesn't change our wide-moat rating on Intel, but it does reinforce our negative moat trend assessment.
Qualcomm is ordered to push back its annual meeting by the Committee on Foreign Investment in the U.S., disappointing Broadcom.
The acquisition of NXP for $44 billion makes Qualcomm a relatively less attractive target for Broadcom.
Onetime niche player Lam Research has built a narrow moat that's growing.
We're raising our fair value estimate on the wide-moat firm but recommend a wider margin of safety before buying.
The human interface chipmaker has a nicely diversified set of opportunities coupled with cutting-edge solutions across touch, display, voice, and video.
The wide-moat company will remain under scrutiny as it rolls out its mitigation solutions and the performance of 'cured systems' is intensely analyzed.
The undervalued firm continues to boast strong offerings in touch, display, and fingerprint sensors for smartphones.
The market may be assigning overoptimistic expectations to the Marvell-Cavium entity.
We view the deal favorably for both companies’ shareholders.
Though Qualcomm's board rejected Broadcom's unsolicited bid, we expect Broadcom's advances to persist.
Despite the aura of positivity surrounding the narrow-moat firm, we think recent growth will be challenging to replicate, and the shares are materially overvalued.
If the firm can execute rolling out its latest optical fingerprint sensors and OLED display driver chips during 2018, we think Synaptics will resume healthy growth beyond fiscal 2018.
We are modestly increasing our fair value estimate to $36 after better than expected third-quarter results.
Though management expects the positive environment to persist into next year, shares of the memory supplier are overpriced.
While the firm earns a narrow moat, we think alternative solutions tailored to AI will capture share going forward, and view it as materially overvalued.
This firm should be able to take part in more appealing end-markets such as enterprise solid-state drives while enjoying superior cost metrics.