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The next wave of the Internet is already underway – here are seven companies poised to power this digital revolution.
CalAmp (CAMP) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Cisco (CSCO) ups its game in networking chip market with Silicon One Q100, putting Broadcom, Intel, Arista Networks, and Juniper Networks at risk.
(Bloomberg) -- SoftBank Vision Fund managing partner Praveen Akkiraju is stepping down from the behemoth investment vehicle to explore working with early stage startups in either an operational or investment role.Akkiraju joined SoftBank in April 2018 and was previously the chief executive officer of Viptela, a cloud software company that was acquired by Cisco Systems Inc. His departure was confirmed by a Vision Fund spokeswoman.Axios earlier reported Akkiraju’s exit. The outlet noted that Deep Nishar, a senior managing partner, will assume many of Akkiraju’s responsibilities including his board seat at Automation Anywhere. SoftBank’s Vision Fund invested $300 million in the San Jose, California-based robotic process automation company last November.SoftBank has raised roughly $2 billion for its second Vision Fund so it can start making new investments, people familiar with the matter said last month.Akkiraju’s departure follows the resignation of London-based Vision Fund partner David Thevenon.Akkiraju didn’t immediately respond to a request for comment.(Updates with second Vision Fund details. A previous version of this story corrected the size of first fund in story link.)To contact the reporters on this story: Giles Turner in London at email@example.com;Gillian Tan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Goldstein at email@example.com, Robin Ajello, Jillian WardFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Cisco Systems Inc. has started supplying switch chips to major data-center operators, including Microsoft Corp. and Facebook Inc., opening up a new avenue to win orders from some of its largest networking-equipment customers.Cisco Silicon 1 is a switch semiconductor that’s already being used by Microsoft and Facebook in crucial networking equipment, the companies said Wednesday at an event in San Francisco. San Jose, California-based Cisco is now offering the chips, which it says are the fastest in the industry, to all of its customers, regardless of whether they buy its networking machinery. Previously Cisco’s chips were only available as components of its machines.The shift toward standalone chip sales is another departure from the business model that made Cisco one of the biggest companies in the technology industry. Cisco’s expensive proprietary combinations of hardware and software make up the backbone of much of the internet and corporate networks, and these products generate the bulk of the company’s revenue. The new initiative has the potential to attract business from customers who want to build their own machines instead of buying whole packages. It also puts Cisco in direct competition with its suppliers, Intel Corp. and Broadcom Inc., which also make switch chips that the networking equipment maker uses in some of its products.“From today -- and this is something that some of you never thought we’d do -- some of our customers will buy our silicon and build their own products if that’s what they choose to do,” Chief Executive Officer Chuck Robbins said at the event. “We really want our customers to consume this technology in any way they want.”As the internet infrastructure business moves away from suppliers who provide all the needs through locked-down combinations of hardware and software, Robbins has been pushing Cisco to adapt by becoming a bigger supplier of networking services and software. On his watch, software has risen to provide about 11% of revenue. Hardware still generates more than half of sales.Cisco shares rose less than 1% to $44.24 at 2:02 p.m. in New York. The stock gained 1.8% this year through Tuesday’s close.The move into selling components is an attempt to win orders from the hyperscalers, such as Microsoft, Google and Amazon.com Inc.’s AWS, a group that has increasingly turned away from Cisco’s offerings and equipped their data centers with computers and networking gear designed in house. Those big cloud-computing vendors contribute as little as 2% of Cisco’s total sales, according to Raymond James analyst Simon Leopold.Switch chips perform the crucial function of deciding where packets of data should go in a network of computers. They are designed to handle that task at great speed, and only a few companies have been successful in the market. Broadcom is the biggest provider of this type of chip as an individual component and has as much as 80% share, Leopold said. Intel took a bigger interest in the market in June when it bought startup Barefoot Networks.Cisco’s new offering will combine the attributes of both switch and routing chips, the company said. It’ll be able to move data very quickly and still be programmable, carrying the ability to have its function changed. Routing, directing traffic among networks, is typically conducted by groups of chips that bring other attributes but are unable to direct data fast enough for modern internet traffic loads. One chip providing all of the functions will simplify the operation of networks by eliminating the need for different layers of software, Cisco executives said.Offering up what was previously guarded as a proprietary advantage shows a flexibility at Cisco that has been increasing as Robbins works to transform the company. Analysts predict the build-it-yourself approach to networking, pioneered by the large cloud-service operators, over time will be copied by companies looking to reduce the cost of their data-center spending. That corporate market is one of Cisco’s biggest sources of revenue.Cisco’s equipment, including its chips, is designed by the company and manufactured by a third party, which it hasn’t identified.The company also announced a new router machine at the event, designed to better serve as the backbone for new fifth generation, or 5G, cellular networks. The Cisco 8000 will be based on the new chip. The company also unveiled plans for products that will support faster data transmission speeds over fiber-optic cables. Like the rest of the networking industry, Cisco is positioning itself to be a main provider of equipment for the predicted surge in internet traffic and data created by the proliferation of mobile systems.(Updates with comment from Cisco CEO in the fourth paragraph.)To contact the reporter on this story: Ian King in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Skyworks Solutions, Inc. (NASDAQ:SWKS) received a lot of attention from a substantial price increase on the NASDAQGS...
Target is Yahoo Finance's 2019 Company of the Year. Target COO John Mulligan explains some of the big changes he has made to Target's business this year.
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Broadcom (AVGO) fiscal fourth-quarter results are expected to reflect expanding presence in the infrastructure software space on synergies from CA buyout, amid Huawei ban and stiff competition.
(Bloomberg) -- Qorvo Inc. and Skyworks Solutions Inc. were both upgraded by two notches at BofA, to buy from underperform, with the firm seeing massive growth potential due to 5G technology.Because of “the exponential growth in components required to upgrade” about 1.4 billion smartphones, as well as “several hundred million” devices on the “internet of things,” BofA views 5G as “one of the more compelling and investable themes in semis.”Shares of Qorvo jumped as much as 4.4% on Monday, with the stock hitting record levels. Skyworks gained as much as 4% and hit its highest since March 2018. Both have been strong performers in 2019. Qorvo shares have jumped about 80% thus far this year while Skyworks is up more than 55%.Both stocks are major suppliers to Apple Inc. According to supply-chain data compiled by Bloomberg, Qorvo derives 32% of its revenue from Apple, while 51% of Skyworks’ revenue comes from the company. Apple is widely expected to debut a 5G version of its iPhone next year.While the first phase of 5G-related investments should favor infrastructure chipmakers like Marvell Technology, Analog Devices and Xilinx, “the next phase could also favor handset” stocks with radio frequency (RF) technology, wrote analyst Vivek Arya. There is “material upside to estimates from 5G adoption.”BofA estimated that sales of RF chips would come in at $12.6 billion in 2019, and grow to $18.5 billion over the next three years.The firm lifted its price target on Qorvo to a Street-high view of $130 from $80. The Skyworks target was boosted to $122 from $92, close to Craig-Hallum Capital Group’s $125 Street-high target.(Adds Monday trading in third paragraph, adds chart)To contact the reporter on this story: Ryan Vlastelica in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Target is the Yahoo Finance Company of the Year for 2019. We talk with Target's executive team and experts on how the retailer made it happen in 2019 and what's in store for 2020.
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