Core Insights - Tiger Global Management, led by Chase Coleman III, has significantly increased its investment in Amazon by purchasing over 4 million shares, making it the fund's fourth-largest holding [2] - Amazon's share price has become more reasonable, dropping from a high price-to-earnings ratio of 110x to 34x, while net income has surged by over 500% to $70.6 billion [6][7] - The company is experiencing strong growth, with net sales increasing by 13% year over year, driven by a 17.5% growth in Amazon Web Services (AWS) revenue [8] Investment Rationale - Amazon's financial struggles in 2022 led to a significant drop in share price, but the company has since rebounded with substantial income growth and a more attractive valuation [7] - AWS is crucial for Amazon's profitability, contributing over half of the company's profits despite accounting for only 18.4% of total revenue [9] - The ongoing expansion and innovation within AWS, including new partnerships and tools, suggest continued growth potential for the segment [10][11] Market Position - Amazon's valuation stands at $2.4 trillion, and its e-commerce segment still has room for growth, as it represents only 15.5% of total U.S. retail sales [8][9] - The company's ability to leverage its scale for innovation and efficiency positions it well for future success, making it an attractive investment opportunity for both institutional and individual investors [11]

Leadership Changes - Oracle has appointed two new co-CEOs, Mike Sicilia and Clay McGoric, reflecting the company's focus on AI and cloud services [1][2][30] - The leadership transition comes at a time of significant momentum in Oracle's business, particularly in cloud infrastructure [2][3] Business Growth and Strategy - Oracle's cloud infrastructure (OCI) is projected to grow at a 70% compound annual growth rate (CAGR) through fiscal year 2030, supported by a backlog of over $300 billion in new contracts signed last quarter [6][9] - The company has reported a remarkable change in growth outlook, moving from low single-digit growth to a projected 30% CAGR in total revenue over the next four years [9][12] AI and Market Positioning - Oracle has secured major contracts with leading AI vendors, positioning itself as a key player in the AI infrastructure space [15][18] - The company is seen as a critical partner for AI applications, with OpenAI planning to use Oracle's OCI for both training and inference, indicating ongoing demand for Oracle's services [16][18] Financial Performance and Backlog - Oracle's remaining performance obligations (RPO) stand at $455 billion, indicating strong future revenue potential [10][51] - The company's significant capex spending plan of $35 billion for fiscal 2026 is aimed at operationalizing its backlog and supporting growth in cloud services [51][53] Competitive Landscape - Oracle is positioned as the fourth hyperscaler in the cloud market, competing effectively on price and performance with AWS, Google, and Azure [41][50] - The company has established partnerships with semiconductor providers like Nvidia and AMD, enhancing its infrastructure capabilities [43][47] TikTok Relationship - Oracle's involvement with TikTok, including potential equity ownership, reinforces its role in the U.S. market and highlights its capabilities in handling sensitive data [25][58] - The relationship with TikTok is seen as a testament to Oracle's credibility in managing government-sensitive projects [59][61]

Accessibility StatementSkip Navigation PLEASANTON, Calif., Sept. 25, 2025 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) will host its investor day virtually on Thursday, October 16, 2025. The event will begin at 1:30 p.m. PT and will conclude at approximately 3:30 p.m. PT. Veeva will broadcast the presentations live on the company's investor relations website, ir.veeva.com, where a link to the archived webcast will also be available after the event. Event:Â Veeva Systems 2025 Investor Day Date: Thursday, Octob ...

is about 40% below where we are right now. We got the analyst behind the call. That is Alex Hazel joining us now live from London.Alex, I'm sure uh you've received some choice and colorful comments to your email inbox today. Uh but you call it as you see it. We appreciate it.What is the basis of this call. Um yeah, first of all, thanks for having me on the show. The basis is really we see like big headline figures in terms of like order wins and also revenues but our work really shows that the value uh subs ...

Core Insights - Oracle is focusing on cloud expansion as a key driver for long-term growth, with OCI revenues increasing 55% year-over-year to $3.3 billion in Q1 FY26, contributing to overall cloud revenues of $7.2 billion, a 28% increase [1][9] - The company anticipates OCI revenues to grow 77% to $18 billion in FY26, with a long-term goal of reaching $144 billion in five years, supported by a substantial backlog of $455 billion in Remaining Performance Obligations from major AI contracts [1][2][9] Investment and Infrastructure - Oracle plans to invest $35 billion in capital expenditures during FY26 to establish 37 new multi-cloud data centers, aligning with the demand for AI workloads and enhancing its cloud service offerings [2][9] - The introduction of the Oracle AI Database, which integrates large language models, is expected to broaden Oracle's cloud capabilities [2] Competitive Landscape - Oracle faces competition from Microsoft Azure, which reported $47 billion in cloud revenues and a 39% growth rate, leveraging its integration with Microsoft products and hybrid-cloud strengths [5] - Google Cloud Platform (GCP) competes by excelling in data analytics and AI/ML technologies, although Oracle's OCI is noted for its database performance [6] Financial Performance and Valuation - Oracle's stock has increased by 84.5% year-to-date, outperforming the broader technology sector [7] - The Zacks Consensus Estimate projects Oracle's FY26 revenues at $66.75 billion, reflecting a 16.29% year-over-year growth, with earnings expected to rise to $6.75 per share [13]

Core Insights - Credo Technology Group Holding Ltd has launched its 224G PAM4 SerDes Intellectual Property (IP) using TSMC's N3 technology, marking a significant advancement in data transmission capabilities [1][9] - The transition to 224G PAM4 per lane doubles data rates compared to the previous 112G PAM4, facilitating the development of 1.6Tbps connectivity solutions that reduce complexity, cost, and power consumption [2][9] - The 1.6T networking market is projected to reach $13 billion by 2028, with adoption expected to ramp up by the end of this year, indicating strong market potential for Credo's offerings [3] Product Offerings - Credo's diverse portfolio includes SerDes IP ranging from 28G to 224G, with various reach options such as long reach plus (LR+), long reach (LR), medium reach (MR), and very short reach plus (VSR) [4] - The introduction of the Bluebird DSP, a low-power solution for 1.6Tbps optical transceivers, supports 224Gbps per lane PAM4 data transmission while operating under 20 watts, making it suitable for AI and hyperscale data centers [6] Financial Projections - For fiscal 2026, Credo anticipates mid-single-digit sequential revenue growth, leading to an estimated 120% year-over-year increase, with revenues expected to exceed $800 million [7] - The company projects a non-GAAP net margin of around 40% for the upcoming quarters and fiscal 2026, indicating strong profitability potential [7] Market Performance - Credo currently holds a Zacks Rank 1 (Strong Buy), with its shares having surged 232.3% over the past six months, significantly outperforming the Zacks Electronics-Semiconductors industry's growth of 61.1% [8]

Core Insights - Financial institutions can now utilize Nasdaq Calypso capital markets and treasury infrastructure on the AWS cloud, enhancing operational efficiency and innovation [1][2][3] Group 1: Partnership and Infrastructure - The partnership between AWS and Nasdaq allows AWS to offer Nasdaq Calypso as a fully managed service, while Nasdaq manages the underlying infrastructure [2] - This deployment will eliminate the need for financial institutions to maintain the platform's infrastructure, enabling faster deployment and ensuring access to the latest version [3][4] Group 2: Benefits of Cloud Deployment - Nasdaq Calypso provides a unified environment for managing trading, risk, margin, collateral workflows, and data analytics [3] - The cloud deployment is expected to offer a more agile, resilient, and future-ready infrastructure for financial institutions [6][7] Group 3: Industry Context - The collaboration aims to address the technological challenges faced by financial institutions, which need to innovate while maintaining legacy systems [7] - Nasdaq's expanded collaboration with AWS positions the company to lead the transformation towards cloud and managed services in the financial sector [4]

Financial Data and Key Metrics Changes - For Q4, the company reported approximately $8.3 billion in revenue, exceeding guidance by roughly $800 million, with core operating income at $519 million and a core operating margin of 6.3%, a 50 basis point improvement year-over-year [9][10] - Core diluted earnings per share was $3.29, while GAAP diluted earnings per share came in at $1.99 [9] - Full-year adjusted free cash flow was over $1.3 billion, with a healthy balance sheet showing a debt-to-core EBITDA ratio of 1.3 times and cash balances of approximately $1.9 billion [12][13] Segment Performance Changes - Regulated Industries revenue was $3.1 billion, with a year-over-year increase of approximately 3% and a core operating margin of 6.5% [10] - Intelligent Infrastructure revenue reached $3.7 billion, $400 million above expectations, with a core operating margin of 5.9% [10][11] - Connected Living and Digital Commerce revenue totaled $1.4 billion, reflecting a year-over-year decline of approximately 14%, but with a core operating margin increase to 6.6% [11] Market Data and Key Metrics Changes - The automotive and transportation market is expected to decline by 5% in FY26, while healthcare outsourcing is entering a growth phase, particularly in drug delivery systems [49][50] - AI-related revenue is projected to grow by roughly 25% in FY26, reaching about $11.2 billion, driven by strong demand in cloud and data center infrastructure [53][54] Company Strategy and Industry Competition - The company is focusing on system-level integration across its segments, particularly in Intelligent Infrastructure, to capture AI-related growth [51][52] - In Connected Living and Digital Commerce, the strategy involves pruning lower-margin programs while investing in higher-margin opportunities like digital commerce and robotics [55][56] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of the diversified model despite mixed dynamics across end markets, with strong performance in AI-related sectors offsetting softness in automotive and renewables [35][36] - The company aims for approximately 5% revenue growth in FY26, with core operating margin expansion to around 5.6% [56] Other Important Information - The company completed a $1 billion share repurchase authorization and plans to return about 80% of free cash flow to shareholders [14][57] - A new facility in North Carolina is set to come online in summer 2026 to address capacity constraints in AI manufacturing [54] Q&A Session Summary Question: Can you provide details on growth areas in AI? - The company expects 25% year-on-year growth in AI revenue, with significant growth in capital equipment and cloud and data center infrastructure, while maintaining strong positions in existing markets [64][65] Question: What is the outlook for healthcare growth? - Growth is anticipated in drug delivery systems and healthcare outsourcing, with a healthy pipeline of new business expected to contribute to margins [66]

Group 1: AI and Market Trends - The AI-driven bull run of 2023 and 2024 is continuing into 2025, with stock prices of AI-centric companies increasing by 200-300% [1] - Hyperscalers are increasingly opting for data center installations to support the growth of cloud computing [1] Group 2: Old Economy Stocks - Several old economy stocks from sectors such as industrials, finance, auto, materials, and construction have shown significant year-to-date gains [2] - Investing in these stocks with a favorable Zacks Rank is expected to lead to profits and offers opportunities for portfolio diversification [2] Group 3: Selected Old Economy Stocks - Five old economy stocks have rallied more than 30% year to date and have favorable Zacks Ranks indicating further upside potential: Comfort Systems USA Inc. (FIX), MasTec Inc. (MTZ), JPMorgan Chase & Co. (JPM), GE Aerospace (GE), and Howmet Aerospace Inc. (HWM) [3] Group 4: Comfort Systems USA Inc. (FIX) - Comfort Systems USA is a national provider of HVAC services, primarily in commercial and industrial markets [6] - The demand for specialized HVAC solutions is driven by the data center boom, particularly for AI and cloud computing [7] - FIX has an expected revenue growth rate of 15.5% and earnings growth rate of 52.4% for the current year [10] Group 5: MasTec Inc. (MTZ) - MasTec is an infrastructure construction company benefiting from the AI data center boom and trends in electrification and reshoring [11][14] - MTZ operates in multiple segments, including communications, power delivery, pipeline infrastructure, and clean energy [13] - The company has an expected revenue growth rate of 13.6% and earnings growth rate of 60% for the current year [14] Group 6: JPMorgan Chase & Co. (JPM) - JPMorgan Chase's net interest income growth is projected to witness a CAGR of 2.9% by 2027, driven by business expansion initiatives and loan demand [15] - The company emphasizes the importance of AI in boosting efficiency, with a technology budget of $18 billion for the year [16] - Expected revenue and earnings growth rates for JPM are -0.2% and -0.6%, respectively, for the current year [17] Group 7: GE Aerospace (GE) - GE Aerospace is experiencing strong demand for commercial engines and defense-related products, supported by rising defense budgets and geopolitical tensions [18] - The company plans to invest over $1 billion in MRO facilities globally over the next five years [19] - Expected revenue and earnings growth rates for GE are -4.4% and 27.6%, respectively, for the current year [20] Group 8: Howmet Aerospace Inc. (HWM) - Howmet Aerospace is benefiting from robust momentum in the commercial aerospace market and rising defense budgets [21] - The company has a strong liquidity position that supports shareholder-friendly policies [22] - Expected revenue and earnings growth rates for HWM are 9.4% and 32.7%, respectively, for the current year [22]

Financial Performance - Q4 FY25 - Total revenues reached $176 billion, a 45% increase in local currency and 7% in USD[4] - Adjusted earnings per share (EPS) increased by 9% to $303, excluding business optimization impacts[6] - Adjusted operating margin increased by 10 bps to 151%, excluding business optimization impacts[7] Financial Performance - Full Year FY25 - Total revenues reached $697 billion, a 7% increase in both local currency and USD[13] - Adjusted earnings per share (EPS) increased by 8% to $1293, excluding business optimization impacts[13] - Adjusted operating margin increased by 10 bps to 156%, excluding business optimization impacts[14] - Free cash flow was $109 billion[15] Strategic Priorities & Growth Areas - Cloud revenue reached approximately $39 billion with 12% growth[17] - Industry X revenue reached $9 billion with 10% growth[17] - Security revenue reached $10 billion with 16% growth[17] - GenAI bookings almost doubled to $59 billion, and revenues tripled to $27 billion[22, 31] Returning Value to Shareholders - Dividends paid totaled $37 billion, or $592 per share, a 15% increase over the fiscal year 2024 quarterly dividend rate[15] - Share repurchases amounted to $46 billion[21] - The company plans to return at least $93 billion of cash to shareholders in FY26, a 12% or $1 billion increase compared to FY25[25] FY26 Outlook - Revenue growth in local currency is projected to be between 2% and 5%[23] - Adjusted earnings per share are expected to be between $1352 and $1390, a 5% to 8% increase over FY25[23]