Finding The Right Leader For Your Company’s AI Strategy https://t.co/AimMvdSAsP https://t.co/AimMvdSAsP ...

Group 1: Apple App Store Performance - Apple's App Store revenue for May increased by 4.9% month-over-month, surpassing the historical average of 2.3% for this period, leading to a year-over-year revenue growth of 13.0% in May compared to 11.8% in April [1] - App Store downloads rose by 2.0% month-over-month in May, contrasting with a decline of 4.6% in April, and showed a year-over-year increase of 3.1% in May, down from 5.8% in April [3] Group 2: Analyst Insights and Forecasts - Analyst Samik Chatterjee maintains an Overweight rating on Apple, indicating confidence in the company's performance despite the lack of official guidance for Services revenue growth [1][2] - Monthly revenue trends for the App Store are expected to support low-double-digit year-over-year growth in Services, aligning with Chatterjee's forecasts [2] Group 3: Smartphone Market Concerns - Counterpoint Research has revised global smartphone shipment growth expectations for 2025 down to 1.9% from 4.2%, attributing this to tariff-related uncertainties [4] - IDC forecasts U.S. smartphone shipment growth to be 1.9% in 2025, a decrease from 3.3% in 2017, also due to tariff-related price increases [5] - Deepwater Research's Gene Munster suggests Apple has about two years to refine its AI strategy, which will necessitate increased investments [5]

Core Insights - The article introduces Azlaan Mansuri as a new contributing analyst for Seeking Alpha, encouraging others to share investment ideas for publication and potential earnings [1]. Group 1: Investment Strategy - The focus is on long/short equity strategies, emphasizing deep fundamental analysis to identify undervalued stocks for long positions and overvalued stocks for short positions in global equity markets [2]. - Detailed financial models are built using discounted cash flow (DCF), relative valuation, and scenario analysis to assess company fundamentals, growth potential, and associated risks [2]. - The analyst delivers high-conviction investment recommendations through comprehensive research, aiming to drive alpha generation for the fund [2]. Group 2: Market Monitoring - Continuous monitoring of market trends, sector dynamics, and macroeconomic factors is essential to adjust strategies and optimize portfolio performance in real time [2]. - Collaboration with the Portfolio Manager is highlighted for sizing positions, managing risk exposure, and navigating challenges such as short squeezes or market volatility [2].

Financial Data and Key Metrics Changes - VEON reported an 8.3% revenue growth in 2024 in USD terms, exceeding the 8% to 10% growth expectation [8] - EBITDA grew by 4.9% in USD terms, surpassing the 4% to 6% expectation [8] - In local currency terms, revenue growth was 14.6%, exceeding the 12% to 14% expectation, while EBITDA grew by 12%, surpassing the 9% to 11% expectation [9][15] Business Line Data and Key Metrics Changes - Direct digital revenues surged by 63% for the full year, contributing 12.6% of total revenues in Q4 [10][25] - Telecom and Infrastructure segment revenues reached $3.6 billion, growing by 3.8% year on year in USD [18] - The Pakistan business showed the strongest performance with revenues growing 22.7% and EBITDA growing 15.6% in local currency terms [22] Market Data and Key Metrics Changes - Ukraine's revenues grew 13.7% and EBITDA grew 10.3% in local currency terms, recovering from a cyber attack [22][26] - Bangladesh faced significant challenges due to political unrest, but direct digital revenues increased by 66% [36] - Uzbekistan's revenues grew 9.4% in local currency terms, while EBITDA declined by 3.7% due to higher operating expenses [37] Company Strategy and Development Direction - VEON is focused on scaling digital services and has made substantial progress in executing an asset-light strategy [10][53] - The company plans to list Kyivstar on NASDAQ, enhancing visibility and profile [11][30] - VEON aims to continue delivering on its digital operator strategy and explore accretive market opportunities [54][55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 revenue guidance of 12% to 14% in local currency, driven by strong growth in digital services [15][56] - The company is optimistic about the recovery of consumer confidence in Bangladesh and expects significant growth potential in the market [64] - Management acknowledged the impact of macroeconomic conditions but remains bullish about domestic growth and consumer confidence [106] Other Important Information - VEON's net debt to EBITDA ratio improved to 1.3 times, reflecting disciplined debt management [21][52] - The company completed a $100 million share buyback program, with $30 million repurchased in phase one [11][55] - Direct digital revenues are expected to continue growing, with a target of increasing their contribution to total revenues [63] Q&A Session Summary Question: Key drivers behind 2025 guidance and country contributions - Management highlighted direct digital revenues and acquisitions as key growth drivers, with expectations for strong contributions from Ukraine, Pakistan, and Kazakhstan [64] Question: Competition developments in main markets - New competitors are entering markets like Ukraine and Kazakhstan, but VEON is well-positioned as a digital operator [66] Question: Plans for tower assets - Management confirmed ongoing tower assets in various countries and a significant deal with Anglo Corporation for tower sales [68] Question: Use of proceeds from tower deals - Proceeds from tower deals will be used for deleveraging at both local and corporate levels [89] Question: Eurobond market access timeline - Management indicated no immediate plans to return to the Eurobond market but remains open to future opportunities [91] Question: Strategic rationale behind the acquisition of Ooklon - The acquisition is seen as a way to meet unmet demand in frontier markets and integrate ride-hailing services into the digital ecosystem [78] Question: Guidance assumptions regarding Ukraine's political situation - Management remains focused on customer needs and is prepared for various political scenarios in Ukraine [80]