Tech Giants in Focus: $1B ValueAct Backs Meta, AWS-IBM Deal, Nvidia Upgraded, Shopify Surges Nearly Three-Year High
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Here’s what you need to know today, 11/12.
Business Wire
BullishLongTermMETAActivist
Activist ValueAct has $1 billion stake in Meta, sources say
- Meta launched augmented reality glasses, enhancing digital-physical interaction.
- ValueAct holds a $1 billion stake, supportive of Meta's AI investments.
- Meta shares have outperformed S&P 500 and peers in 2024.
- ValueAct is known for collaborative approaches with tech firms.
- Meta's market cap is nearly $1.5 trillion, attracting activist interest.
Business Insider
BullishLongTermIBMBusiness Development
AWS is negotiating a huge deal to supply IBM with Nvidia GPUs via the cloud
- IBM negotiating $475 million AI cloud deal with AWS.
- Deal aims to enhance IBM's access to Nvidia GPUs for AI training.
- AWS's AI business growing rapidly, projected to generate multi-billion dollars.
- AWS's AI business growing rapidly, projected to generate multi-billion dollars.
- Negotiations could expand IBM's cloud partnership with AWS.
seekingalpha.com
BullishShortTermNVDAAnalyst Rating
Nvidia initiated with Buy rating at Redburn (NASDAQ:NVDA)
- Redburn initiated a Buy rating for Nvidia at $178 target.
- Ongoing AI spending drives positive sentiment for Nvidia's stock.
- Shares increased by 0.7% in premarket trading.
- Accelerated computing reduces overall computing costs.
benzinga.com
BearishShortTermAAPLResearch Analysis
Evaluating Apple Against Peers In Technology Hardware, Storage & Peripherals Industry - Apple (NASDAQ:AAPL)
- Apple's P/E ratio is significantly higher than industry average, indicating premium valuation.
- High P/B and P/S ratios suggest Apple might be overvalued compared to peers.
- Apple's ROE and EBITDA indicate strong profitability relative to competitors.
- Apple's revenue growth is underperforming compared to the industry's average.
- Moderate debt-to-equity ratio reflects balanced financial structure and risk.
Investopedia
VeryBullishShortTermSHOPEarnings
Shopify Stock Soars To Nearly Three-Year High on Strong Q3 Results
- Shopify exceeded Q3 estimates for income, revenue, and cash flow.
- Operating income rose 132% year-over-year, reaching $283 million.
- Revenue increased 26% to $2.16 billion, surpassing analysts' projections.
- Expectations for Q4 revenue growth are mid-to-high twenties.
- Shopify shares increased 25%, marking a three-year high.
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