智通财经获悉，富国银行周三表示，尽管英伟达(NVDA.US)和AMD(AMD.US)等公司在“当前水平和人气”上令人信服，美光科技(MU.US)是其在半导体领域的首选。以Aaron Rakers为首的分析师们在给客户的一份报告中写道:“(生成式人工智能)的长期扩张将持续(尽管在2024年下半年放缓)。然而，我们预计2024年将出现一些对周期更敏感的公司的轮换。” 富国银行预计，到2024年和2025年，半导体行业的存储部分将同比增长69%和15%，这将使美光科技受益;预计2024年和2025年半导体总销售额分别约为6450亿美元和7180亿美元，同比分别增长17%和11%。 随着AMD和英伟达股价近期的下跌，富国银行表示看好这两家公司，尤其是在人工智能的推动下，数据中心的支出势头仍在继续。分析师写道:“人工智能的发展势头正在持续，(传统)服务器的支出将转向推理与训练+复原，这将推动2024年服务器的强劲增长。” 分析师们预计，来自服务器CPU和GPU的收入将同比增长33%，而用于服务器的动态随机存取存储器预计今年将增长100%以上。该公司指出，在整个第三季度，英特尔和AMD的服务器CPU出货量同比下降34%， ...

Wells Fargo & Company (NYSE:WFC) Goldman Sachs 2023 US Financial Services Conference December 5, 2023 8:00 AM ET Company Participants Charlie Scharf - CEO Conference Call Participants Richard Ramsden - Goldman Sachs Richard Ramsden Okay. So good morning, everybody. I'm delighted to welcome you to this year's Goldman Sachs Financial Services Conference. As David said, we are close to 1,200 attendees this year, 830 clients, well over 100 companies. So, thank you all for joining us. We're delighted to have Ch ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-2979 WELLS FARGO & COMPANY (Exact name of registrant as specified in its charter) Delaware No. 41-0449 ...

Wells Fargo & Co. (NYSE:WFC) Q3 2023 Earnings Conference Call October 13, 2023 10:00 AM ET Company Participants John Campbell – Director, IR Charles Scharf - President, CEO & Director Michael Santomassimo - Senior EVP & CFO Conference Call Participants John McDonald - Autonomous Research Steven Chubak - Wolfe Research Robert Siefers - Piper Sandler & Co. Ebrahim Poonawala – Bank of America Merrill Lynch John Pancari - Evercore ISI Gerard Cassidy - RBC Capital Markets Erika Najarian - UBS Matthew O’Connor - ...

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Company Overview - Wells Fargo reported a total of 1,823,028,137 shares of common stock outstanding as of July 21, 2023[3]. - The company is classified as a large accelerated filer under SEC regulations[2]. - The company has indicated that it is not a shell company as defined by SEC regulations[2]. Financial Statements - The financial statements include a consolidated statement of income, comprehensive income, balance sheet, changes in equity, and cash flows[4]. - The report indicates that Wells Fargo has filed all required reports under the Securities Exchange Act of 1934 during the preceding 12 months[2]. - The company is subject to regulatory capital requirements and other restrictions as outlined in the financial statements[4]. Revenue and Income - Total revenue for the quarter ended June 30, 2023, was $20,533 million, a decrease of 1% from the previous quarter and an increase of 19% from $17,040 million in the same quarter of 2022[5]. - Wells Fargo's net income for the quarter was $4,938 million, a decrease of 1% from the previous quarter and an increase of 57% from $3,142 million year-over-year[5]. - The company reported net income of $4.9 billion for Q2 2023, a 57% increase from $3.1 billion in Q2 2022, with diluted EPS rising to $1.25 from $0.75[23]. - Total revenue for Q2 2023 was $20.5 billion, up 20% from $17.0 billion in Q2 2022, driven by a 29% increase in net interest income[23]. Credit Losses and Provisions - Provision for credit losses rose to $1,713 million, a 42% increase from the previous quarter and a significant increase from $580 million in the same quarter of 2022[5]. - The provision for credit losses was $1.7 billion in Q2 2023, compared to $580 million in Q2 2022, reflecting increases for commercial real estate loans and credit card balances[23]. - The allowance for credit losses (ACL) for loans increased to $14.8 billion at June 30, 2023, up $1.2 billion from December 31, 2022[26]. Loans and Deposits - Loans totaled $945,906 million, remaining stable compared to the previous quarter and up 2% from $926,567 million year-over-year[5]. - Total loans for Q2 2023 amounted to $945.906 billion, with total interest-earning assets at $1,719.705 billion[31]. - Total deposits decreased to $823.339 billion in Q2 2023, an 8% decline from $898.650 billion in Q2 2022[62]. Noninterest Income and Expenses - Noninterest income for the second quarter of 2023 was $7,370 million, an increase of 8% compared to $6,842 million in the same quarter of 2022[34]. - Noninterest expense totaled $12,987 million for the quarter ended June 30, 2023, a slight increase of 1% compared to $12,862 million in the same quarter of 2022[42]. - Personnel expenses increased by 2% to $8,606 million in Q2 2023 from $8,442 million in Q2 2022, driven by higher salaries and severance expenses[42]. Capital and Equity - Total equity at the end of the quarter was $181,952 million, a decrease of 1% from the previous quarter and an increase of 1% from $179,798 million year-over-year[5]. - The company maintained a Common Equity Tier 1 (CET1) ratio of 10.73% as of June 30, 2023, exceeding the regulatory minimum of 9.20%[25]. - The company issued $1.725 billion of Preferred Stock, Series EE in July 2023[20]. Risk Management - The report includes a section on risk management, highlighting the company's approach to managing financial risks[4]. - The company continues to integrate climate considerations into its credit risk management activities[121]. - The company employs various credit risk management activities to mitigate risks associated with loan concentrations, economic conditions, and interest rate changes[120]. Market Conditions and Forecasts - The forecasted U.S. unemployment rate is expected to rise to 5.9% by Q4 2024, up from 4.2% in Q4 2023[164]. - The forecasted U.S. real GDP is projected to decline by 1.5% in Q4 2023, with a slight recovery to 1.0% by Q4 2024[164]. - Commercial real estate asset prices are forecasted to drop by 12.4% in Q4 2023, indicating significant market challenges[164]. Trading and Investment Activities - The company engages in trading activities primarily within its Corporate and Investment Banking (CIB) businesses, utilizing debt and equity securities, trading loans, and derivatives[177]. - The average Company Trading General VaR for the quarter ended June 30, 2023, was $38 million, reflecting an increase compared to the same period a year ago, primarily driven by changes in portfolio composition[178]. Liquidity and Funding - As of June 30, 2023, the Liquidity Coverage Ratio (LCR) was 123%, exceeding the minimum requirement of 100%[182]. - Total High-Quality Liquid Assets (HQLA) amounted to $349.1 billion, with eligible cash at $121.1 billion and eligible securities at $228.0 billion[183]. - The company issued $8.5 billion of long-term debt in July 2023 to support operational requirements[187].

Wells Fargo & Company (NYSE:WFC) Q2 2023 Earnings Conference Call July 14, 2023 10:00 AM ET Company Participants John Campbell - Director of IR Charlie Scharf - CEO Mike Santomassimo - CFO Conference Call Participants Scott Siefers - Piper Sandler Ebrahim Poonawala - Bank of America Steven Chubak - Wolfe Research John Pancari - Evercore ISI Betsy Graseck - Morgan Stanley Gerard Cassidy - RBC Capital Markets Erika Najarian - UBS Matt O’Connor - Deutsche Bank Vivek Juneja - JPMorgan Charles Peabody - Portales ...

Wells Fargo & Company (NYSE:WFC) Morgan Stanley US Financials, Payments and CRE Conference Call June 13, 2023 8:00 AM ET Company Participants Mike Santomassimo - Chief Financial Officer Conference Call Participants Unidentified Analyst Okay, great. Thanks everyone. I have a disclosure to read and then we'll get started. For important disclosures, please see Morgan Stanley Research disclosure website at morganstanley.com/researchdisclosures. The taking a photograph and use of recording devices is also not al ...

Wells Fargo & Company (NYSE:WFC) Bernstein 39th Annual Strategic Decisions Conference May 31, 2023 8:00 AM ET Company Participants Charlie Scharf - CEO Conference Call Participants John McDonald - Bernstein John McDonald We're ready to go. Thanks, everyone, for joining us today. We're happy to kick off the conference in this room today with Wells Fargo. We have CEO, Charlie Scharf, joining us. Charlie, thanks for coming back this year. Charlie Scharf Thanks, John. Great to be here. Question-and-Answer Sessi ...