In today’s briefing:
- ARM Holdings Pre-IPO – Pre-Privatisation to Pre-Listing Changes – Slower Growth, Lower Margins
- Nvidia: Better than Dreamed
- Comparing Liquidity on Uniswap and Binance
- Western Digital Corporation: How Cloud is Redefining Their Revenue Streams! – Major Drivers
- Monolithic Power Systems Inc.: An Exciting Leap into EV & AI Domains! – Major Drivers
- Republic Services Inc.: Advancement of Sustainable Packaging Solutions & Other Drivers
- ON Semiconductor Corporation: 4 Pillars Behind The Company’s Revenue Uptick! – Financial Forecasts
- Illinois Tool Works Inc.: 4 Success Strategies Behind Their Recent Performance! – Financial Forecasts
- Altria Group Inc.: From Traditional Tobacco to Modern Marvels – What Is Their Growth Strategy? – Key Drivers
- Qorvo Inc.: 4 Growth Drivers They’re Betting On Amidst Declining Demand! – Financial Forecasts
ARM Holdings Pre-IPO – Pre-Privatisation to Pre-Listing Changes – Slower Growth, Lower Margins
- Softbank Group (9984 JP) aims to raise around US$8-10bn via selling some of its stake in ARM Holdings’ US IPO.
- ARM develops and licences high-performance, low-cost, and energy-efficient CPU products and related technology, which is used by semiconductor companies and OEMs to develop their own products.
- In this note, we compare its recent performance versus its performance prior to its privatisation and discuss the changes since then.
Nvidia: Better than Dreamed
- Nvidia, in characteristic fashion, murdered EPS estimates.
- Revenue was $2 billion ahead of the guide, and the guide was another $4 billion ahead of consensus for the next quarter.
- Going into the print, many people were concerned that positioning was bad, i.e., everyone was bullish and expectations were too high. Well, they did not disappoint.
Comparing Liquidity on Uniswap and Binance
- Market depth is a widely used measure of liquidity, commonly calculated across the order books of cryptocurrency pairs on centralized exchanges (CEXes).
- It provides the amount of bids and asks at varying distances from the mid-price, encompassing a range from -0.1% to 10%.
- This chart shows cumulative ETH-USDT bid and ask volumes at various levels on the ten largest CEXes.
Western Digital Corporation: How Cloud is Redefining Their Revenue Streams! – Major Drivers
- Western Digital Corporation delivered an all-around beat in the quarter, with total revenue of $2.7 billion.
- In the fourth quarter, cloud comprised 37% of all revenue at $1 billion, down 18% from the previous quarter and 53% from the previous year.
- Shipments of nearline bits were 59 exabytes, a 26% sequential decline driven by persistent difficulties among cloud clients.
Monolithic Power Systems Inc.: An Exciting Leap into EV & AI Domains! – Major Drivers
- Monolithic Power Systems managed to exceed the revenue expectations as well as the earnings expectations of Wall Street.
- Storage and computing revenue increased in the quarter.
- Industrial revenue for the second quarter of 2023 also increased due to higher equipment sales for power sources and industrial meter applications.
Republic Services Inc.: Advancement of Sustainable Packaging Solutions & Other Drivers
- Republic Services exceeded analyst expectations in revenue and earnings.
- The company is improving profitability while successfully expanding its business both organically and through acquisitions.
- The company produced a revenue increase of 9% throughout the quarter, including more than 4% via acquisitions.
ON Semiconductor Corporation: 4 Pillars Behind The Company’s Revenue Uptick! – Financial Forecasts
- ON Semiconductor Corporation managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.
- In the quarter, revenue, gross margin, and earnings per share increased significantly.
- PSG revenue increased, with increases in the Auto and Energy infrastructure sectors.
Illinois Tool Works Inc.: 4 Success Strategies Behind Their Recent Performance! – Financial Forecasts
- Illinois Tool Works delivered mixed results for the quarter, with revenues below the analyst consensus.
- The expansion of operating margins indicates the company has adapted well to changing market dynamics.
- While some factors impacted revenues, the stable underlying demand across various industrial end markets reflects the company’s resilience.
Altria Group Inc.: From Traditional Tobacco to Modern Marvels – What Is Their Growth Strategy? – Key Drivers
- Altria Group delivered a decent result managed to exceed analyst expectations in terms of earnings.
- In the last quarter, the company demonstrated resilience and adaptability by navigating challenges in the tobacco industry while expanding its product portfolio.
- The acquisition of NJOY marked a transformative step in Altria’s journey toward Moving Beyond Smoking, reinforcing the company’s commitment to alternative products.
Qorvo Inc.: 4 Growth Drivers They’re Betting On Amidst Declining Demand! – Financial Forecasts
- Qorvo Inc. delivered a strong result and managed an all-around beat in the last quarter, with revenue, margin, and EPS surpassing the midpoint of the provided outlook.
- With a strong presence in growth areas like sensors and ultra-wideband, Qorvo is poised to diversify its growth and expand margins.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
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