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NVIDIA $NVDA to release a downgraded version of its H20 AI chip in China by July, per Reuters. The modified H20 will reportedly feature reduced memory capacity and performance. https://t.co/Sh8nFbcDGX
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NVIDIA $NVDA to release a downgraded version of its H20 AI chip in China by July, per Reuters. The modified H20 will reportedly feature reduced memory capacity and performance. https://t.co/Sh8nFbcDGX
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TSMC just posted its highest-ever monthly revenue in April — NT$349.57B (≈$11.54B USD), up 48% YoY and +22% from March. https://t.co/8a8zeJwfjj
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TSMC just posted its highest-ever monthly revenue in April — NT$349.57B (≈$11.54B USD), up 48% YoY and +22% from March. https://t.co/8a8zeJwfjj
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China’s 🇨🇳 April export numbers came in stronger than expected—up 8.1% year-over-year—even as shipments to the U.S. 🇺🇸 dropped sharply by 21% due to new tariffs. The data shows China is redirecting trade flows to other key markets like Southeast Asia, the EU, and India to offset U.S. losses. That’s likely raising concerns globally about overcapacity and potential product dumping.
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China’s 🇨🇳 April export numbers came in stronger than expected—up 8.1% year-over-year—even as shipments to the U.S. 🇺🇸 dropped sharply by 21% due to new tariffs. The data shows China is redirecting trade flows to other key markets like Southeast Asia, the EU, and India to offset U.S. losses. That’s likely raising concerns globally about overcapacity and potential product dumping.
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Wolfspeed $WOLF forecasted 2026 revenue of $850 million, falling short of Wall Street’s $958.7 million estimate. Q3 revenue dropped 7% to $185.4 million, slightly missing expectations.
Weakened EV demand, new tariffs raising auto part costs, and delayed product launches have hit sales. Broader economic pressures—like high interest rates—are also slowing industrial and energy sector investments.
Uncertainty around CHIPS Act funding, after calls for repeal, has further shaken investor confidence. Wolfspeed posted a Q3 loss of 72 cents per share, beating the expected 82-cent loss.
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Wolfspeed $WOLF forecasted 2026 revenue of $850 million, falling short of Wall Street’s $958.7 million estimate. Q3 revenue dropped 7% to $185.4 million, slightly missing expectations.
Weakened EV demand, new tariffs raising auto part costs, and delayed product launches have hit sales. Broader economic pressures—like high interest rates—are also slowing industrial and energy sector investments.
Uncertainty around CHIPS Act funding, after calls for repeal, has further shaken investor confidence. Wolfspeed posted a Q3 loss of 72 cents per share, beating the expected 82-cent loss.
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MoffettNathanson Maintains Neutral on $TTD, Raises PT to $75 from $60; "We continue to worry that the CTV ad market is incredibly fluid and we haven’t put those fears of new competition to bed just yet"
Analyst comments: "Yet, if we step back and look at where our 2025 estimates are now vs. pre-February 11th, we see that our current 2025 revenue forecast of $2.87 billion is 4% below our pre-4Q’24 estimate of $2.99 billion. Again, nothing to see here except that the stock was priced for perfection at $120 per share and a topline miss of any kind creates significant downside pressure. However, on a GAAP EBITDA basis, our current TTD 2025 forecast of $667 million is almost 25% lower than the pre-4Q’24 estimate. Thus, we would chalk another lever of the stock’s sell-off to negative earnings revisions and worries about operating leverage—or lack thereof. For example, in this current quarter, The Trade Desk’s GAAP EBITDA operating leverage was 23%, which is more than half of what it was in Q1 last year (52%) and in all of 2024 (47%). So while the top-line results grew nicely, the translation into profitability lagged last year’s conversion rates. As the company has noted, they are in the midst of investing in talent and products, which will likely be a feature of this year’s financial results. The question post-2025 is whether or not the 2023 and 2024 operating leverage and margin enhancement was a relic of a different bygone time. There were many analyst questions on the call focusing on the threat that Amazon poses to The Trade Desk’s preeminent position in the connected TV space, and the answers from TTD were clear and well-thought-out. With limited access, at present, to quality third-party streaming inventory, Amazon can currently be dismissed as a conflicted walled garden re-seller like Google. In addition, even with the move to insert advertising in Amazon Prime Video, there is simply not enough reach or impressions to offer an attractive proposition relative to the fully-stocked Trade Desk. Yet, if this remains the case, we would truly be shocked. Given the current challenges facing AVOD/FAST players in terms of both CPM price ranges and fill rates, we expect that Amazon will gain access to these undifferentiated platforms and use their first-party data to push more dollars their way. While we don’t expect a YouTube or Netflix to partner with Amazon, other streaming players in need of channel distribution across Amazon’s storefront or even better revenue share distribution terms also seem to be susceptible for some horse-trading. So, while today’s results were super strong and the company’s positioning is impressive, we continue to worry that the connected TV ad market is incredibly fluid and we haven’t put those fears of new competition to bed just yet."
Analyst: Michael Nathanson
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MoffettNathanson Maintains Neutral on $TTD, Raises PT to $75 from $60; "We continue to worry that the CTV ad market is incredibly fluid and we haven’t put those fears of new competition to bed just yet"
Analyst comments: "Yet, if we step back and look at where our 2025 estimates are now vs. pre-February 11th, we see that our current 2025 revenue forecast of $2.87 billion is 4% below our pre-4Q’24 estimate of $2.99 billion. Again, nothing to see here except that the stock was priced for perfection at $120 per share and a topline miss of any kind creates significant downside pressure. However, on a GAAP EBITDA basis, our current TTD 2025 forecast of $667 million is almost 25% lower than the pre-4Q’24 estimate. Thus, we would chalk another lever of the stock’s sell-off to negative earnings revisions and worries about operating leverage—or lack thereof. For example, in this current quarter, The Trade Desk’s GAAP EBITDA operating leverage was 23%, which is more than half of what it was in Q1 last year (52%) and in all of 2024 (47%). So while the top-line results grew nicely, the translation into profitability lagged last year’s conversion rates. As the company has noted, they are in the midst of investing in talent and products, which will likely be a feature of this year’s financial results. The question post-2025 is whether or not the 2023 and 2024 operating leverage and margin enhancement was a relic of a different bygone time. There were many analyst questions on the call focusing on the threat that Amazon poses to The Trade Desk’s preeminent position in the connected TV space, and the answers from TTD were clear and well-thought-out. With limited access, at present, to quality third-party streaming inventory, Amazon can currently be dismissed as a conflicted walled garden re-seller like Google. In addition, even with the move to insert advertising in Amazon Prime Video, there is simply not enough reach or impressions to offer an attractive proposition relative to the fully-stocked Trade Desk. Yet, if this remains the case, we would truly be shocked. Given the current challenges facing AVOD/FAST players in terms of both CPM price ranges and fill rates, we expect that Amazon will gain access to these undifferentiated platforms and use their first-party data to push more dollars their way. While we don’t expect a YouTube or Netflix to partner with Amazon, other streaming players in need of channel distribution across Amazon’s storefront or even better revenue share distribution terms also seem to be susceptible for some horse-trading. So, while today’s results were super strong and the company’s positioning is impressive, we continue to worry that the connected TV ad market is incredibly fluid and we haven’t put those fears of new competition to bed just yet."
Analyst: Michael Nathanson
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U.S. buyers took out just 86,604 second-home mortgages in 2024—the lowest since 2018 and down two-thirds from the pandemic boom. High costs, office returns, and weaker rental demand are cooling the vacation home market fast, with Florida seeing the steepest drop. https://t.co/8jNfzFCxjP
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U.S. buyers took out just 86,604 second-home mortgages in 2024—the lowest since 2018 and down two-thirds from the pandemic boom. High costs, office returns, and weaker rental demand are cooling the vacation home market fast, with Florida seeing the steepest drop. https://t.co/8jNfzFCxjP
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BofA: Tech saw $1.2B outflow—biggest in 11 weeks. U.S. equities lost $9.3B, with 4-week outflows largest since May 2023. Cash inflows hit $51.9B, bonds +$14.1B, and crypto saw best 4-week streak in 3 months. Japan and Europe equities logged a 4th straight week of inflows. https://t.co/Lq3u3Rjonq
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BofA: Tech saw $1.2B outflow—biggest in 11 weeks. U.S. equities lost $9.3B, with 4-week outflows largest since May 2023. Cash inflows hit $51.9B, bonds +$14.1B, and crypto saw best 4-week streak in 3 months. Japan and Europe equities logged a 4th straight week of inflows. https://t.co/Lq3u3Rjonq
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Goldman Sachs Upgrades $LYFT to Buy from Neutral, Raises PT to $20 from $19
Analyst comments: "In its Q1’25 earnings report, Lyft framed a few key themes: 1) continued momentum with double-digit Gross Bookings growth led by rides accelerating to +16% year-over-year in Q1, supported by a rapid cadence of product innovation in consumer offerings and rising driver supply affinity enhancing the forward growth trajectory, with rides guided to another quarter of mid-teens growth in Q2; 2) adjusted EBITDA once again exceeded the high end of guidance with a solid 10% incremental margin (as a percentage of Gross Bookings), despite lower-than-expected sales and marketing spend, and topline momentum remained strong; and 3) an increased share repurchase authorization (now $750 million), with plans to deploy $500 million in the next 12 months, likely reducing share count. While short-term debates may continue around rideshare pricing, market share fluctuations, positioning relative to the autonomous vehicle theme, and consumer discretionary trends, we believe shares are currently dislocated from Lyft’s earnings power over the next 2–3 years. We upgrade the stock to Buy from Neutral and raise our 12-month price target to $20 from $19."
Analyst: Eric Sheridan
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Goldman Sachs Upgrades $LYFT to Buy from Neutral, Raises PT to $20 from $19
Analyst comments: "In its Q1’25 earnings report, Lyft framed a few key themes: 1) continued momentum with double-digit Gross Bookings growth led by rides accelerating to +16% year-over-year in Q1, supported by a rapid cadence of product innovation in consumer offerings and rising driver supply affinity enhancing the forward growth trajectory, with rides guided to another quarter of mid-teens growth in Q2; 2) adjusted EBITDA once again exceeded the high end of guidance with a solid 10% incremental margin (as a percentage of Gross Bookings), despite lower-than-expected sales and marketing spend, and topline momentum remained strong; and 3) an increased share repurchase authorization (now $750 million), with plans to deploy $500 million in the next 12 months, likely reducing share count. While short-term debates may continue around rideshare pricing, market share fluctuations, positioning relative to the autonomous vehicle theme, and consumer discretionary trends, we believe shares are currently dislocated from Lyft’s earnings power over the next 2–3 years. We upgrade the stock to Buy from Neutral and raise our 12-month price target to $20 from $19."
Analyst: Eric Sheridan
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