In today’s briefing:
- Alibaba, Tencent Continue to Tear Down Walls Between Their Meeting Platforms
- Astera Labs IPO Preview
- 1Q Follow-Up – Japan Business System (5036 JP)
- PCA (9629): Q3 FY03/24 Update
- Hon Hai: Beat & Raise; Further Valuation Upside; AI Server Product Announcements Next Week
- SurgePays, Inc. – Reports Mixed 4Q Results in Uncertain Market
Alibaba, Tencent Continue to Tear Down Walls Between Their Meeting Platforms
- Alibaba Group’s office messaging and meeting app DingTalk is allowing users of Tencent Holdings’ rival social media app WeChat to directly join any meeting initiated on DingTalk without first registering.
- DingTalk users can now share a meeting link with WeChat users, who can enter the meeting within WeChat.
- Previously, DingTalk required participants to download its meeting app and register.
Astera Labs IPO Preview
- Astera Labs (ALAB US) is scheduled to debut its IPO on 20 March. The company is offering 17.8 million shares at a price of $27 to $30 per share.
- Founded in 2017, Astera Labs is a fabless semiconductor company headquartered in Silicon Valley. The company designs and sells semiconductor technology, but the production is outsourced.
- Astera Labs’ major competitors include Montage Technology (688008 CH), Parade Technologies (4966 TT), Broadcom (AVGO US), Credo Technology Group Holding (CRDO US), and Marvell Technology (MRVL US).
1Q Follow-Up – Japan Business System (5036 JP)
- In the previous 4Q follow-up report, we examined “Copilot NAVI,” a service released by JBS in November, which includes videos and summary materials as a guide for enterprise users, for Microsoft 365 Copilot, the AI tool embedded in Microsoft 365 applications, to bring efficient answers to users’ instructions and questions through a chat interface (which can be a daunting challenge).
- JBS followed up in December with interactive workshops to experience Microsoft 365 Copilot before deployment.
In this report, we examine JBS enterprise cloud security initiatives, which are a top priority for cloud IT systems managers.
PCA (9629): Q3 FY03/24 Update
- Pca Corp (9629 JP) develops and sells corporate accounting software and other business systems for small and medium-sized companies.
- Full-Year FY03/23 revenue was JPY13.0bn (-3.0% YoY) due to lower replacement demand for the PCA X series of products, support for which ended in December 2021.
- PCA Corporation has announced changes to its dividend policy and revisions to its dividend forecast.
Hon Hai: Beat & Raise; Further Valuation Upside; AI Server Product Announcements Next Week
- Hon Hai’s 4Q23 profit beat consensus and management has become more bullish on 2024E revenue thanks to demand for AI servers.
- Guided 40% YoY growth expected for AI servers; Separately, Hon Hai reportedly could have won a major AI server order from HP Enterprise according to Digitimes.
- Hon Hai shares are finally moving; We see room for continued upside based on re-rating of the company’s valuation. Positive news flow potential through Nvidia’s GTC conference next week.
SurgePays, Inc. – Reports Mixed 4Q Results in Uncertain Market
- After the close on Tuesday, SurgePays reported mixed 4Q23 results.
- Total revenue of $32.3 million exceeded our $32.1 million estimate but was slightly below consensus of $33.6 million.
- However, EBITDA of $3.4 million was below both our estimate and consensus of $6.5 million and $6.9 million, respectively.
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