$MU (+5% AH) delivered a better than expected 1Q and gave very strong 2Q guidance: 1Q: - Adj Rev $4.73B vs $4.58B est - Adj Gross margin +0.8% vs -1.8% est - Adj EPS -$.95 vs -$1.00 est 2Q guidance: - Adj Rev $5.1-$5.5B vs $4.97B (+6.6%) - Adj Gross margin 11.5%-14.5% vs 6.4% est - Adj EPS -$.21 to -$.35 vs -$.62 est $MU had pre-announced much of 1Q at the end of Nov. MU seeing LSD-MSD growth in PCs in 2024 and MSD growth in servers. MU said smartphones will “grow modestly” in 2024.
NVIDIA CEO Jensen Huang today: “The Chat-GPT moment for self-driving cars has arrived. NVIDIA announced that they’re now expanding their self-driving partnership to BYD, Nissan, Hyundai, and Geely. Their automotive partners: • GM • Toyota • Mercedes-Benz • Jaguar Land Rover • Volvo • Rivian • Hyundai • BYD • Geely • XPENG • Polestar • NIO • Lucid • Li Auto • Nissan • Isuzu • Zeekr • Xiaomi • Stellantis Additionally, NVIDIA and Uber are partnering to launch a global network of Level 4 autonomous robotaxis, beginning in LA and San Francisco in early 2027 before expanding to 28 cities by 2028. The robotaxi race is well underway.
NVIDIA CEO Jensen Huang today: “The Chat-GPT moment for self-driving cars has arrived. NVIDIA announced that they’re now expanding their self-driving partnership to BYD, Nissan, Hyundai, and Geely. Their automotive partners: • GM • Toyota • Mercedes-Benz • Jaguar Land Rover • Volvo • Rivian • Hyundai • BYD • Geely • XPENG • Polestar • NIO • Lucid • Li Auto • Nissan • Isuzu • Zeekr • Xiaomi • Stellantis Additionally, NVIDIA and Uber are partnering to launch a global network of Level 4 autonomous robotaxis, beginning in LA and San Francisco in early 2027 before expanding to 28 cities by 2028. The robotaxi race is well underway.
BREAKING: The US Securities and Exchange Commission is preparing a proposal to eliminate the requirement to report earnings quarterly and instead give companies the option to share results twice a year. The proposal is expected to be published as soon as next month.
BREAKING: The US Securities and Exchange Commission is preparing a proposal to eliminate the requirement to report earnings quarterly and instead give companies the option to share results twice a year. The proposal is expected to be published as soon as next month.
Since the Iran war began: 1. US has lifted sanctions on Russian oil for the first time since the Ukraine war began 2. Oil futures posted their largest weekly gain in history, rising +34.5% 3. The S&P 500 has erased -$2 trillion in market cap in 10 trading days 4. Iran is considering allowing oil trade through the Strait of Hormuz to resume if done with Chinese Yuan 5. The world has seen the largest disruption to global energy markets in history 6. US strategic oil reserves are set to hit their lowest since the 1980s It has only been 2 weeks.
Just 2 hours after markets closed: President Trump is now threatening to strike oil infrastructure on Iran’s Kharg Island, which accounts for 2% of global supply, if Iran doesn’t open the Strait of Hormuz. In fact, last month, production coming from Kharg Island hit 3 million barrels per day. If this happens, $150/barrel oil is possible. It’s going to be a busy weekend ahead.
Just 2 hours after markets closed: President Trump is now threatening to strike oil infrastructure on Iran’s Kharg Island, which accounts for 2% of global supply, if Iran doesn’t open the Strait of Hormuz. In fact, last month, production coming from Kharg Island hit 3 million barrels per day. If this happens, $150/barrel oil is possible. It’s going to be a busy weekend ahead.