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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.
SNDK 281.22+3.6%3:04 PM EST
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To: Sam who wrote (4234)10/25/2019 9:18:59 AM
From: Charlie Smith1 Recommendation

Recommended By
Sam

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Northland Capital upgrades INTC to Outperform from Market Perform and sets target price at $69. Analyst Gus Richard said, "Intel sold its modem business to Apple last quarter for $1B. We estimate that this reduced opex moving forward by roughly $450M/year adding roughly $0.10 of earnings. On the call INTC also discussed steps to improve 3D NAND profitability and reduce memory CapEx investments, and evaluating a variety of partnership options that can accelerate the path to profitability and improve returns. We believe there are several Chinese companies would be ecstatic to partner with INTC and take over their NAND operations. The memory group lost $500M last quarter, a $0.40/share annual loss run rate. We estimate on average the memory group losses $1B/year. Finally, on the call INTC announced a $20B share buy back. Assuming a $50 price it would drive a 10% share count reduction."
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