Western Digital Corporation (NASDAQ:WDC) Barclays 22nd Annual Global Technology Conference December 12, 2024 12:15 PM ET Company Participants David Goeckeler - CEO Wissam Jabre - EVP and CFO Conference Call Participants Thomas O'Malley - Barclays Thomas O'Malley Welcome back to the Barclays Global Tech Conference. I'm Tom O'Malley, semiconductor and semi cap equipment analyst here at Barclays. Very pleased to have David Goeckeler and with Wissam Jabre here from Western Digital. Thank you guys for being her ...

D DOM JONES s 2024 Dow Jones & Company, Inc. All Rights Reserved What's News Business & Finance Progress on bringing down inflation stalled in November, with the CPI rising 2.7%, a bump up that poses a challenge to Trump as he prepares to take office with a promise to slow inflation. A1 Major U.S. stock indexes ended mixed, with the S&P 500 and Nasdaq gaining 0.8% and 1.8%, respectively, and the Dow falling 0.2%. B11 Albertsons killed its planned sale to Kroger and filed a lawsuit alleging that Kroger didn' ...

Equinix, Inc. (NASDAQ:EQIX) Barclays 22nd Annual Global Technology Conference Call December 11, 2024 7:15 PM ET Company Participants Arun Dev - Global Leader of Digital Interconnection Services Katie Morgan - Senior Manager of Investor Relations and Sustainability Conference Call Participants Brendan Lynch - Barclays Bank PLC Brendan Lynch Good afternoon, everyone. My name is Brendan Lynch. I cover REITs here at Barclays. Very pleased to be joined by Arun Dev, Global Leader of Digital Interconnection Servic ...

Company and Industry Overview * **Company**: Fortinet, Inc. (NASDAQ: FTNT) * **Industry**: Network Security, Unified SASE, SecOps Key Points and Arguments 1. **Secure Networking Growth**: Fortinet expects a normalized growth rate of approximately 7% in the network security market, driven by factors such as: * **OT Market**: Robust growth in the Operational Technology (OT) market, where Fortinet has a leadership position. * **Regulatory Influence**: Increased regulatory influence, including cyber insurance companies and governmental regulators, driving new firewall use cases. * **Convergence of Switches and Access Points**: Strong customer demand for automation and consolidation functions provided by switches and access points. * **Firewall Upgrade Cycle**: A significant firewall upgrade cycle in 2025 due to end of support in 2026 for products announced in 2021, potentially contributing $400 million to $450 million in incremental product billings. 2. **Unified SASE**: Fortinet's SASE offering includes SSE (Secure Service Edge), SD-WAN, and other cloud functionalities. SD-WAN currently represents over half of the unified SASE mix, with SSE expected to be the fastest-growing component. 3. **SecOps**: Fortinet leverages its data lake to aggregate security data from various sources and offer features like SIEM and SOAR, providing a comprehensive view of security across different geolocations and devices. 4. **Financial Targets**: Fortinet expects a greater than 12% CAGR on billings and revenue over the next three to five years, driven by growth in all three business segments. 5. **Product Gross Margins**: Fortinet's product gross margins have improved due to factors such as reduced supply chain costs and inventory optimization. Normalized product gross margins are expected to be in the 65% to 67% range. 6. **Operating Margins**: Fortinet has raised its long-term operating margin target to 30% plus, driven by factors such as investment in go-to-market initiatives, channel development, and leveraging cost advantages. 7. **Security Spending Environment**: Both Michael Xie and Keith Jensen agree that security remains a top priority for enterprise customers, driven by the increasing threat environment and the need for robust cybersecurity solutions. Additional Important Points * Fortinet has built a significant number of Points of Presence (PoPs) and data centers to support its SASE offerings, providing operational and economic advantages. * Fortinet's sales team and channel partners are well-positioned to capitalize on the growing demand for cybersecurity solutions. * The threat environment remains elevated, and CISOs and CIOs are actively seeking solutions to protect their organizations.

Intuit Inc. (NASDAQ:INTU) Barclays 22nd Annual Global Technology Conference December 11, 2024 4:20 PM ET Company Participants Marianna Tessel - EVP and GM, Global Business Solutions Group Conference Call Participants Raimo Lenschow - Barclays Raimo Lenschow Hey, welcome to our next session. Very happy to have Marianna here from Intuit. Question-and-Answer Session Q - Raimo Lenschow Let me start big picture. So, like, you had a kind of long career in the valley and I think people don't quite appreciate how m ...

Uber Technologies, Inc. (NYSE:UBER) Barclays 22nd Annual Global Technology Conference Call December 11, 2024 4:20 PM ET Company Participants Prashanth Mahendra-Rajah - Chief Financial Officer Conference Call Participants Ross Sandler - Barclays Ross Sandler All right. We're going to get started. Thanks for everybody joining this meeting. My name is Ross Sandler. I'm in charge of Internet Research here at Barclays in the US. Super excited to have Prashanth from Uber. This isn't Prashanth's first time at the ...

Booking Holdings Inc. (NASDAQ:BKNG) Nasdaq London Investor Conference December 11, 2024 4:00 AM ET Company Participants Ewout Steenbergen - CFO Conference Call Participants Brian Nowak - Morgan Stanley Brian Nowak Okay. Good morning, everyone. Welcome to day two of the 2024 Nasdaq Tech Conference. We're really thrilled to have Booking Holdings with us today. Ewout Steenbergen joins us, the CFO of Booking Holdings. Thank you so much for joining us. Ewout Steenbergen Yes, good morning. Thanks, Brian. Brian No ...

Ulta Beauty, Inc. (NASDAQ:ULTA) Raymond James 2024 TMT & Consumer Conference December 11, 2024 10:40 AM ET Company Participants Dave Kimbell - CEO Paula Oyibo - CFO Conference Call Participants Olivia Tong - Raymond James Olivia Tong Okay. Well, thank you, everybody, for joining us at Raymond James' Consumer & TMT Conference. I'm Olivia Tong. I had the coverage of Beauty and HPC, and we're so excited to have Ulta with us today. Thank you for joining us. Dave, Paula, really appreciate it. We have Dave Kimbel ...

Bank of America Corporation (NYSE:BAC) Goldman Sachs 2024 U.S. Financial Services Conference December 11, 2024 1:00 PM ET Company Participants Brian Moynihan - Chairman and CEO Conference Call Participants Richard Ramsden - Goldman Sachs Richard Ramsden Okay. So I'm delighted to welcome our next presenter. He needs no introduction, Brian Moynihan, Chairman and CEO of Bank of America. This is the 15th consecutive time presenting at this conference. It is a record for sure. And it's also, I think, your 15th y ...

Datadog, Inc. (NASDAQ:DDOG) Barclays 22nd Annual Global Technology Conference December 11, 2024 12:50 PM ET Company Participants Yuka Broderick - VP, IR Conference Call Participants Raimo Lenschow - Barclays Raimo Lenschow Perfect. Thanks for joining us. We had one small change in the lineup. Yuka, thanks for still kind of doing this. David Obstler is sadly kind of ill at the moment. So, we kind of had like a last-minute change. Since Yuka and I have been going back for many years, I'm kind of very confiden ...