BofA Securities analyst Wamsi Mohan initiated coverage on SanDisk SNDK with a Buy rating and a price target of $61 on Wednesday.Mohan noted that SanDisk is a leading developer and manufacturer of data storage devices based on NAND flash technology.The rerating reflected: • Improving memory pricing as supply and demand have turned favorable.• Margins upside given pricing trajectory and operating leverage.• Better through-cycle economics given the mix of end markets relative to peers.• A joint venture structu ...

Core Insights - Adobe and Apple are integrating artificial intelligence (AI) into their core products, with Adobe focusing on creative tools and Apple enhancing its operating systems [2][3] - Global spending on AI technologies is projected to exceed $749 billion by 2028, with enterprises expected to contribute 67% of the $227 billion AI spending in 2025 [3] - Both companies face competition from Microsoft, Amazon, and Alphabet, with Adobe shares down 13.9% year-to-date and Apple shares down 21.8% [4] Adobe's Position - Adobe has expanded its AI offerings with products like Adobe GenStudio and Firefly Services, which facilitate collaboration on marketing campaigns [6] - The Firefly Video Model in Premiere Pro allows for instant generation and extension of video and audio clips, while the Firefly App is gaining traction for AI-powered content creation [7][11] - Adobe's Digital Media Annual Recurring Revenue (ARR) has increased by 12% year-over-year, reaching $18.09 billion [12] - The company is on track to exceed its $250 million ARR target from AI-first products by the end of fiscal 2025 [12] - Adobe's earnings estimates for fiscal 2025 have risen to $20.41 per share, indicating a 10.8% increase over the previous year [16] Apple's Position - Apple is seeing improved iPhone 16 sales in regions where Apple Intelligence features are available, with plans to expand language support for these features [13][14] - New features for Apple Intelligence include Live Translation and enhancements to visual intelligence, expected to be available this fall [14] - The consensus estimate for Apple's fiscal 2025 earnings has decreased to $7.11 per share, suggesting a 5.33% growth over fiscal 2024 [17] Valuation Comparison - Adobe is trading at a lower forward Price/Sales ratio of 6.62X compared to Apple's 7.04X, indicating a more favorable valuation for Adobe [18] - Both companies are considered overvalued, but Adobe's focus on monetization and partnerships with major firms is expected to drive growth [21] - Adobe's revenue guidance has been raised to between $23.5 billion and $23.6 billion, reflecting positive momentum [21] Investment Recommendation - Adobe is rated as a stronger buy with a Zacks Rank 2, while Apple holds a Zacks Rank 3, indicating a hold position [22]

Core Insights - Reddit (RDDT) is enhancing its advertising business by leveraging real-time community engagement to provide strategic insights for brands, gaining traction among advertisers seeking authenticity and scale [1][4]. Advertising Business Development - Reddit launched Community Intelligence, a suite that allows marketers to monitor live conversations across subreddits, analyze sentiment, and optimize campaign decisions, transforming the platform into a dynamic planning engine [2]. - In Q1 2025, Reddit's advertising revenue reached $358.6 million, a 61% increase year-over-year, with performance campaigns making up 60% of total ad spend, indicating strong growth among mid- and lower-funnel advertisers [4][10]. User Engagement Metrics - User engagement on Reddit is robust, with Weekly Active Users at 401 million and Daily Active Uniques at 108 million, both reflecting a 31% year-over-year increase, which is a key driver for advertising growth [3][10]. Competitive Landscape - Reddit faces significant competition from Alphabet (GOOGL) and Meta Platforms (META), both enhancing their AI-driven advertising capabilities. Alphabet's Google Ads and YouTube offer large-scale performance marketing, while Meta strengthens its advertising tools across its platforms [6][7]. Valuation and Market Performance - Reddit's stock has declined 18.1% year-to-date, contrasting with a 1.6% return for the broader Zacks Computer & Technology sector and a 13% increase in the Zacks Internet - Software industry [8]. - The forward 12-month Price/Sales ratio for Reddit is 11.8X, significantly higher than the sector average of 6.36X, indicating a premium valuation [12]. Earnings Estimates - The Zacks Consensus Estimate for Q2 2025 earnings is 19 cents per share, an improvement from a loss of 6 cents per share in the same quarter last year. For fiscal 2025, the earnings estimate is $1.21 per share, up from a loss of $3.33 per share in fiscal 2024 [15].

Group 1 - Alaris Equity Partners Income Trust has declared a trust distribution of $0.34 per trust unit for Q2 2025, which annualizes to $1.36 per unit [1] - The distribution is scheduled to be paid on July 15, 2025, to unitholders of record on June 30, 2025 [1] Group 2 - Alaris invests in a diversified group of private businesses primarily through structured equity, aiming to deliver stable and predictable returns to unitholders [2] - The strategy includes common equity positions to align returns with the founders of Private Company Partners [2]

Core Viewpoint - Verizon Communications Inc. has announced the pricing terms for two related transactions involving the repurchase of 10 series of its outstanding notes through Exchange Offers and Cash Offers [1][2]. Exchange Offers - The Exchange Offers consist of 10 separate private offers to exchange outstanding series of notes for newly issued debt securities, referred to as New Notes [3][4]. - The Exchange Offers will expire at 5:00 p.m. (Eastern time) on June 18, 2025, with a settlement date expected on June 25, 2025 [4][9]. - Eligible holders must complete an Eligibility Letter to participate, certifying their status as either a qualified institutional buyer or a non-U.S. qualified offeree [3][4]. - The Total Exchange Price for each series of Old Notes will be based on the fixed spread and yield of the specified Reference U.S. Treasury Security as of the Price Determination Date [11][12]. - Verizon will accept Old Notes for exchange using a "waterfall" methodology, subject to a maximum aggregate principal amount of New Notes capped at $2.5 billion [10][12]. Cash Offers - The Cash Offers consist of 10 separate offers to purchase Old Notes for cash, available only to holders who are not Exchange Offer Eligible Holders [22][23]. - Similar to the Exchange Offers, the Cash Offers will expire at 5:00 p.m. (Eastern time) on June 18, 2025, with a settlement date expected on June 25, 2025 [24][29]. - The Total Consideration for each series of Old Notes will be determined based on the yield corresponding to the bid side price of the applicable Reference U.S. Treasury Security [25][31]. - Verizon's obligation to complete a Cash Offer is conditioned on the Maximum Total Consideration Amount not exceeding $300 million [34][35]. New Notes - The New Notes will mature on July 2, 2037, with a coupon rate of 5.401% based on the Reference U.S. Treasury Security [14][15]. - Verizon will not complete the Exchange Offers if the aggregate principal amount of New Notes issued would be less than $750 million [15][16]. Additional Information - Global Bondholder Services Corporation is acting as the Information Agent and Exchange Agent for the Exchange Offers, and as the Tender Agent for the Cash Offers [21][39]. - Holders are advised to check with their intermediaries regarding submission deadlines for participation in the Offers [41].

Advanced Micro Devices, Inc. (NASDAQ: AMD ) stock is up over 45% since my “buy the dip” April call, and up another 24% since my buy recommendation in May .I’m a retired Wall Street PM specializing in TMT; since kickstarting my career, I’ve spent over two decades in the market navigating the technology landscape, focusing on risk mitigation through the dot com bubble, credit default of ‘08, and, more recently, with the AI boom. In one word, what I’d like my service to revolve around is momentum.Analyst’s Dis ...

Core Viewpoint - Archer Aviation has significantly enhanced its strategic and financial position in the eVTOL market through a series of announcements, including a capital raise, regulatory agreements, and international partnerships [1][2][13]. Financial Position - On June 12, Archer raised $850 million by selling 85 million shares at $10.00 each, resulting in a pro forma liquidity position of approximately $2 billion [2][3][14]. - This capital raise alleviates funding concerns for pre-revenue growth companies, providing a financial runway for operations and scaling [3][4]. International Strategy - Archer announced a five-country certification alliance with the U.S., U.K., Australia, Canada, and New Zealand to streamline regulatory processes for eVTOLs [5][6]. - The company also established a partnership with PT. Industri Ketahanan Nasional in Indonesia, with an initial fleet deployment valued at up to $18 million and a provisional agreement for up to 50 aircraft worth up to $250 million [7][8]. Market Sentiment - The recent strategic developments have attracted attention from analysts and institutional investors, including a $3.3 million stake increase by ARK Investment Management [9][10]. - Archer holds a Moderate Buy consensus rating from eight analysts, with an average price target of $13.13, indicating a potential upside of 28.73% from the current price [10][11]. Long-term Outlook - The combination of a strong balance sheet, international regulatory support, and commercial partnerships establishes a new baseline for Archer, reinforcing its leadership position in the eVTOL sector [13][14].

Core Insights - OpenAI is ending its collaboration with Scale AI following Meta's significant investment in the startup, indicating a shift in strategy for OpenAI [1][2] - OpenAI had been looking for alternative data providers to enhance its AI model development, suggesting a need for more specialized data [2] - The decision raises concerns about Scale AI's data labeling business, as major clients like Google are also reconsidering their partnerships with Scale AI [3] Company Developments - Scale AI's executives have publicly stated that they will not provide Meta with preferential treatment or share confidential information from other clients [4] - Despite these assurances, Scale AI's key customers appear to be moving away from the company, prompting a potential need for Scale AI to adapt its business model [4] - Scale AI's interim CEO announced a strategic focus on its applications business, which involves creating custom AI solutions for government and enterprise clients [7]

People look at iPhones at the Apple Fifth Avenue store in New York City, U.S., May 23, 2025.Apple has plans to make a folding iPhone starting next year, reliable analyst Ming-Chi Kuo said on Wednesday.Kuo said that Apple's folding phone could have a display made by Samsung Display, which is planning to produce as many as 8 million foldable panels for the device next year. However, other components haven't been finalized, including the device's hinge, Kuo wrote. He expects it to have "premium pricing."Kuo is ...

Oliver Rodzianko is the Founder and Chief Executive Officer of Invictus Origin, a pioneering high-alpha investment management firm launched in May 2025, dedicated to becoming a globally recognized, actively managed fund. Invictus Origin is developing innovative portfolio strategies, notably through its flagship Nasdaq High-Alpha Black Swan Portfolio, strategically designed to sustainably outperform the Nasdaq-100. Distinctively, this portfolio maintains approximately 20% in strategic cash reserves, providin ...