Group 1 - Telenor Group will announce its results for the second quarter of 2025 on July 18, 2025, at 0900 CET / 0800 UKT [1] - The results presentation will be available via Webcast only, with no live Q&A participation [1] Group 2 - A separate press meeting for media will take place at 10.30 CET in Telenor Expo, Fornebu [2] - The media session will be conducted in Norwegian [2] - RSVP for the media session can be done via email to thomas.midteide@telenor.com [2]

Group 1 - TE Connectivity plc announced a quarterly cash dividend of $0.71 per ordinary share, payable on September 12, 2025, to shareholders of record on August 22, 2025 [1] - The company is a global industrial technology leader focused on creating a safer, sustainable, productive, and connected future [2] - TE Connectivity offers a wide range of connectivity and sensor solutions that support various sectors including transportation, energy networks, automated factories, data centers, and medical technology [2] Group 2 - The company employs over 85,000 individuals, including 9,000 engineers, and operates in approximately 130 countries [2] - TE Connectivity emphasizes the importance of connectivity in its operations, encapsulated in the motto "EVERY CONNECTION COUNTS" [2]

Group 1: Zacks Premium and Style Scores - Zacks Premium offers various tools for investors, including daily updates on Zacks Rank and Industry Rank, access to the Zacks 1 Rank List, Equity Research reports, and Premium stock screens to enhance investment confidence [1][2] - Zacks Style Scores are complementary indicators that rate stocks based on value, growth, and momentum methodologies, helping investors identify stocks likely to outperform the market in the next 30 days [2][3] Group 2: Style Score Categories - The Value Score focuses on identifying undervalued stocks by analyzing ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [3] - The Growth Score assesses a company's financial strength and future outlook by examining projected and historical earnings, sales, and cash flow [4] - The Momentum Score evaluates trends in stock price and earnings outlook, using factors like one-week price change and monthly earnings estimate changes to identify high-momentum stocks [5] - The VGM Score combines the three Style Scores to highlight stocks with attractive value, strong growth forecasts, and promising momentum, serving as a useful indicator alongside the Zacks Rank [6] Group 3: Zacks Rank and Performance - The Zacks Rank is a proprietary stock-rating model that leverages earnings estimate revisions to assist investors in building successful portfolios [7] - Stocks rated 1 (Strong Buy) have historically produced an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8] - Investors are encouraged to select stocks with a Zacks Rank of 1 or 2 that also have Style Scores of A or B to maximize returns [9] Group 4: TE Connectivity Overview - TE Connectivity is a global technology company specializing in connectivity and sensor solutions across various industries, including automotive, aerospace, defense, energy, and medical, with operations in over 130 countries [11] - TE Connectivity holds a Zacks Rank of 3 (Hold) and has a VGM Score of B, indicating potential for growth [11] - The company is projected to achieve year-over-year earnings growth of 9.1% for the current fiscal year, with upward revisions in earnings estimates from six analysts in the last 60 days [12]

Core Viewpoint - TE Connectivity is well-positioned to benefit from the increasing demand for industrial automation and robotics, leading to a 'Buy' rating for the stock [1] Company Overview - TE Connectivity (NYSE: TEL) is an industrial technology manufacturer that specializes in connectivity and sensor solutions for transportation and industrial markets [1]

Financial Data and Key Metrics Changes - The company reported total revenue of approximately $17 billion, with a significant increase in AI-related revenue from $300 million last year to an expected over $700 million this year [8][9] - Operating margins are currently above 19%, with automotive business margins running at 20% [48][49] - The company aims for both business segments to achieve margins above 20% in the future [50] Business Line Data and Key Metrics Changes - The industrial segment, which includes high-speed connections for cloud providers, is the largest business area, contributing significantly to revenue growth [8][10] - In the transportation segment, automotive is the largest business, with about 50% of revenue generated in Asia, showing a 16% growth in the last quarter [12][13] - The company has seen a content increase in electric vehicles (EVs), with average content per vehicle rising from $60 pre-COVID to the low $80s today [17][19] Market Data and Key Metrics Changes - The company has a strong presence in Asia, with 70% of its operations outside the United States, which helps mitigate tariff impacts [31][32] - The automotive market in Asia is experiencing robust growth, while the Western automotive market remains relatively flat [45][46] - The company is benefiting from trends in AI and energy infrastructure, with expectations for continued growth in these areas [44][68] Company Strategy and Development Direction - The company is focused on enhancing its connectivity and sensing technologies, particularly in the AI and automotive sectors [6][14] - There is an active portfolio management strategy, with a focus on improving margins and cash generation, including recent acquisitions in the energy space [56][58] - The company plans to continue investing in AI-related capacities, with capital expenditures expected to rise from $700 million to $900 million [78] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about organic growth of around 8% year-on-year, with improvements in the order book and industrial sector [42][44] - The company does not foresee significant impacts from tariffs on earnings, as they have implemented pricing strategies to mitigate costs [34][36] - Management noted that while there are challenges in the automotive sector, particularly in the West, the overall outlook remains positive due to strong demand in Asia [45][46] Other Important Information - The company has approximately 20 manufacturing sites globally, with a focus on local production to align with customer supply chains [31][32] - The healthcare segment is expected to grow at a high single-digit rate long-term, despite experiencing fluctuations during COVID [108][110] - The company has a strong engineering presence in China, with over 2,000 engineers focused on local design and manufacturing [103] Q&A Session Summary Question: What is the growth outlook for the automotive and industrial segments? - The company anticipates a growth rate of 4-6% above production levels in automotive, with a similar outlook for industrial segments [15][16] Question: How does the company handle pricing in response to tariffs? - The company has implemented surcharges to offset tariff impacts, passing costs along to customers while maintaining margin integrity [36][37] Question: What is the company's strategy regarding acquisitions? - The company aims for a balanced capital strategy, targeting a third of free cash flow for dividends and pursuing bolt-on acquisitions primarily in the industrial segment [57][59]

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Group 1 - TE Connectivity's CEO, Terrence Curtin, will present at Bernstein's 41st annual Strategic Decisions Conference on May 29, 2025 [1] - The event will be streamed live and available for replay on TE's investor website [1] - TE Connectivity is a global leader in connectors and sensors, focusing on creating a safer, sustainable, productive, and connected future [2] Group 2 - TE Connectivity offers a wide range of connectivity and sensor solutions for various industries, including transportation, energy networks, automated factories, data centers, and medical technology [2] - The company employs over 85,000 individuals, including 9,000 engineers, and operates in approximately 130 countries [2] - TE Connectivity emphasizes the importance of connectivity with the slogan "EVERY CONNECTION COUNTS" [2]

Core Insights - The company "Chip Superhero" operates a 1,600 square meter intelligent chip storage base with over 1,000 stock models and around 100 brands, holding a total of 50 million chips valued at over 100 million [1] Group 1 - The company has an independent laboratory in Shenzhen where each material undergoes QC inspection [1] - It serves over 8,000 users by providing inventory release, demand matching, and trading of surplus materials [3] Group 2 - The company is actively seeking to purchase specific chip models, including TE 2337019-1 (60K), NXP MIMXRT1064CVL5B (80K), and Infineon IKD10N60RATMA1 (50K) [2]

Core Insights - Vertiv Holdings (VRT) and TE Connectivity (TEL) are significant players in the AI infrastructure sector, providing essential components for data centers [1] - AI infrastructure spending is projected to exceed $200 billion by 2028, presenting substantial investment opportunities for both companies [2] Vertiv Holdings (VRT) - Vertiv's product portfolio includes thermal systems, liquid cooling, UPS, switchgear, busbar, and modular solutions, with organic orders growing approximately 20% in the last 12 months [3] - The company reported a book-to-bill ratio of 1.4 for Q1 2025, indicating strong demand, and a backlog growth of 10% sequentially and 25% year over year, reaching $7.9 billion [3] - Vertiv introduced the CoolLoop Trim Cooler, which offers up to 70% energy savings and 40% space reduction, enhancing cooling solutions for AI applications [4] - The company launched four new systems aimed at improving power efficiency and thermal management in AI-driven data centers [5] - Vertiv's partnerships with companies like NVIDIA and Intel are crucial for its growth [6] TE Connectivity (TEL) - TEL is experiencing growth due to increasing demand for connectivity solutions in AI, automotive electrification, and industrial automation, with orders reaching $4.25 billion, a 6% increase year over year [7] - The company anticipates revenue growth exceeding $700 million in fiscal 2025, driven by strong momentum in AI applications [8] - TEL's digital data networks business saw nearly 80% organic growth in Q2 2025, fueled by demand from hyperscale AI platforms [9] Price Performance and Valuation - Year to date, Vertiv's shares have decreased by 7.1%, while TE Connectivity's shares have increased by 13.6% [10] - Vertiv shares are currently overvalued with a Value Score of D, trading at a forward Price/Sales ratio of 4.02X, compared to TEL's 2.80X and a Value Score of B [14] - Earnings estimates for Vertiv in 2025 are $3.55 per share, reflecting a 24.56% year-over-year increase, while TEL's estimates are $8.19 per share, indicating an 8.33% increase year over year [16] Conclusion - TE Connectivity is positioned as the stronger investment option due to robust growth in AI applications, solid earnings estimates, and attractive valuation compared to Vertiv [17]

Core Viewpoint - Investors in the Electronics - Miscellaneous Components sector should consider TE Connectivity (TEL) and OSI Systems (OSIS) as potential value stocks, with TEL appearing to be the more attractive option based on valuation metrics [1][7]. Valuation Metrics - Both TEL and OSIS have a Zacks Rank of 2 (Buy), indicating a positive earnings outlook due to favorable analyst estimate revisions [3]. - TEL has a forward P/E ratio of 18.66, while OSIS has a forward P/E of 24.03, suggesting TEL is more undervalued [5]. - The PEG ratio for TEL is 2.01, compared to OSIS's PEG ratio of 2.04, indicating TEL's expected earnings growth is more favorable relative to its price [5]. - TEL's P/B ratio is 3.75, while OSIS has a P/B of 4.27, further supporting TEL's position as the superior value option [6]. Value Grades - TEL has a Value grade of B, while OSIS has a Value grade of C, reflecting TEL's stronger valuation metrics [6].