Companies

In the midst of reports that Apple’s supply chain is set to resume production, we’re reminded the Coronavirus impact will likely affect the June quarter and potentially beyond. That said, we continue to believe this storm will pass, and Apple…

As the health impact of the coronavirus continues to mount, the economic impact is increasingly apparent. The lives of the people affected by the virus are the primary concern, but understanding its impact on the global economy is also an…

Back in November following Tesla’s Cybertruck announcement, we published a note titled Cybertruck Misses Core Truck Buyer, But Still An Incremental Positive. Following 22 conversations with midwest-based construction pros, a core truck-buying segment, we’ve realized we were wrong, as early…

First things first – the real impact of COVID-19 is on the individuals affected. Apple announced they will miss March guidance based on COVID-19 affecting demand for Apple’s products in China and dampening global iPhone supply. Outside of China, the…

Tesla plans to capitalize on its recent surge in value by issuing 2.65M new shares with expected proceeds of $2.3B. With the stock down as much as 7% in pre-market trading and up 5.5% during the day, investors are signaling…

Lyft shares are down 5% in the aftermarket, reflecting investors’ disappointment that the company’s track to profitability will be a full year behind Uber’s Dec-20 target. This reaction captures current investor group-think that all companies must meet profitability as fast…

Bottom Line: Tesla’s market cap has nearly doubled over the last month and has tripled since the end of Q3. The excitement driving such a dramatic rise presents short term risk. We believe current pricing may be overlooking: Sequential delivery…

Tesla shares are up 20% today following a 45% move over the previous month.  The most recent share price surge is attributed to a combination of two factors: short-covering and greater investor optimism that Tesla is a tech company that…

Apple announced that, out of an “abundance of caution,” it has closed all stores, corporate offices and contact centers in China through February 9. These closings overlap with the back half of the Chinese new year (January 25th – February…

Amazon fooled us again. They have been cautioning investors for the past three quarters that the one-day shipping investment cycle would depress profitability. Instead, they beat Street operating income in Dec-19 by 44% while only exceeding revenue expectations by 2%.…

Tesla reported Dec-19 earnings of $2.14 per share (vs expectations of $1.72) and revenue of $7.38B (vs expectations of $7.02B). The company generated $1B in operating cash flow less capex vs. the Street at $429m. Shares were up much as…

Shares of Facebook are down 7% in the after-market based on Mar-19 revenue guidance slightly below consensus along with the company cautioning that privacy changes may have an impact on monetization this year. Facebook’s dominance in reach and engagement is…