Latest news with #BenReitzes
CNBC
3 days ago
- Business
- CNBC
Melius on Broadcom earnings: We see good things coming
Ben Reitzes, Melius Research head of technology research, joins 'Squawk on the Street' to discuss what to expect from Broadcom's quarterly earnings results.
Yahoo
5 days ago
- Business
- Yahoo
WWDC 2025 preview: A gloomy prediction for Apple Intelligence, "Solarium," and macOS "Tahoe"
When you buy through links on our articles, Future and its syndication partners may earn a commission. Apple's annual Worldwide Developers Conference (WWDC) is just a few weeks away, which means it's time to mark your calendars for some big announcements on iOS, macOS, Apple Intelligence, and more. While Apple doesn't give away any official details about what to expect in its big keynote presentation, plenty of rumors and leaks swirl around that give us a peek at the highlights. A few significant updates, including iOS and macOS updates, are always in the spotlight at WWDC, which takes place June 9-13, 2025. In addition to the usual slate of software updates, Apple occasionally features a surprise hardware announcement. WWDC 2025 could include two, although one is much more likely than the other. Keep checking this page for more updates in the weeks and days leading up to the event. See also: Best Apple deals in May 2025 June 2: Citing sources within Apple, Bloomberg reported over the weekend that "People within the company believe [WWDC 2025] may be a letdown from an AI standpoint. Others familiar with the company's planned announcements worry they could make Apple's shortcomings even more obvious." Other announcements expected at WWDC: ➡️ Apple will open up its on-device AI models to developers who want to include on-device AI in their apps. This is just on-device AI, and not cloud-based AI, so there are significant limitations compared to services like Google Gemini. ➡️ The Translate app is reportedly going to be all new and integrated with AirPods. ➡️ A variety of projects are reportedly ongoing at Apple right now, but won't be part of this year's WWDC. These include a revamped Shortcuts app, a chatbot to compete with ChatGPT, a redesigned Health app, and a medical services codenamed 'Mulberry,' plus a Siri upgrade to reportedly make Siri more like the voice mode of ChatGPT. Finally, in this update, Apple is expected to release a new macOS named "Tahoe" after Lake Tahoe in California. Other California-inspired macOS names have been Mavericks, Yosemite, El Capitan, Sierra, High Sierra, Mojave, Catalina, Big Sur, Monterey, Ventura, Sonoma, and Sequoia. May 30: Many of the leaked or expected announcements from WWDC could feel incremental, and Wall Street is paying attention. "The media is having a good time previewing the June 9th WWDC (Apple developer conference) with expectations for … nothing" as Siri's AI delays remain a focus, Melius Research analyst Ben Reitzes writes in a note to clients that was sent on Tuesday, as reported by Investor's Business Daily. The publication didn't mince words with its headline: "Expectations For Apple's WWDC Couldn't Be Lower." The markets can change quickly, depending on the reaction to Apple's event set for June 9. Just last year, Business Insider reported on enthusiasm over the 2024 WWDC with this headline: "'Best WWDC Ever': Wall Street is pumped up over Apple's AI game plan." May 29: On Wednesday, anonymous sources within Apple told a reporter from Bloomberg that the company will eliminate version numbering for its operating systems and opt for numbering that corresponds with the year. The year naming convention will affect iOS, iPadOS, macOS, watchOS, tvOS, and visionOS. For example, iOS 19 will actually be called iOS 26, for the year 2026. (The numbering is similar to other products with an annual fall release date, in that the edition that debuts is named for the following year.) At WWDC, the iOS previewed for developers will be iOS 26, which will also be its name when it is released to the public this September. May 28: On Tuesday, Digital Trends exclusively reported that Apple acquired RAC7, the two-person operation behind the cute and very fun Sneaky Sasquatch, which won the Apple Arcade award for Game of the Year in 2020. It is often in the top 10 of the most popular games on Apple Arcade and, as of this week, was #7. Apple's acquisition of Vancouver-based RAC7 might've been the first shoe to drop on Tuesday. The other shoe came in the form of a report from Bloomberg that Apple will debut a stand-alone app for video games (right now Apple Arcade is a tab in the App Store) that will show up in MacBooks, iPads, Apple TV, and, of course, the iPhone. Bloomberg reports that this stand-alone app will replace Game Center and promote Apple Arcade, the $6.99/month service that enables users to play games like Sneaky Sasquatch. The environment in which these moves are being made is one of significant change. On May 1, Epic Games announced it was opening a new web store on iOS for video game developers. This was a result of its epic legal victory over Apple, which saw Apple lose its ability to charge 'any commission or any fee on purchases that consumers make outside an app.' An Apple spokesperson has told the press that the company would appeal the ruling. Will there be an announcement at WWDC 2025 about Apple's new stand-alone gaming app? You can all but bet on it. May 25: As Bloomberg reported on May 25, Apple's primary focus at WWDC 2025 will be a new software design codenamed "Solarium." The publication reports that "the new look is slicker and more modern." The new interface will reportedly affect all of Apple's operating systems. One announcement that's all but certain to appear at WWDC 2025 is the 19th version of iOS, called iOS 26. WWDC is mainly a software-focused event, and iOS is Apple's most widely used platform, so it's always part of the main keynote. Rumors so far hint that iOS 26 could include some major changes, specifically an overhaul to iOS's visual style, which we haven't seen since iOS 7. Some images leaked back in March claiming to show those visual changes, but Apple analyst Mark Gurman refuted them in a Threads post, specifically stating they "aren't representative of what we'll see at WWDC." So, while it sounds like visual changes to iOS are likely, it's still up in the air how extensive those changes will be and how they'll look. Additionally, there are rumors the long-awaited Siri update will finally arrive in iOS 26, although it's still unclear when, so don't get your hopes up just yet. Over the past year, the new-and-improved AI Siri has been delayed several times, so it's possible the update won't be in the first release of iOS 26 but will arrive in a later OS update. Previous rumors pointed to iOS 19.4 in spring 2026 as a potential release window. Along with iOS 26, we're also expecting to see the 19th version of iPad OS, which will be called iPad OS 26. We expect it to arrive with a slate of updates similar to the iOS system's. It could get the same visual overhaul that iOS 19 receives, but there's also a chance that this could be the year iOS and iPadOS really diverge if Apple decides to move iPadOS closer to its Mac operating system. As someone who has used an iPad as a laptop replacement, I have to admit I'm on board with the latter. While iPadOS shouldn't be completely melted into macOS, it would be nice to have better file management and a more laptop-like interface for using iPads with a Magic Keyboard and a mouse. Aside from visual changes, iPadOS 26 will likely get some of the same updates as iOS 26, including Apple Intelligence updates and AI-powered battery life optimization. We could also see improvements to Stage Manager, which seems especially likely if Apple debuts a more Mac-like iPadOS. Another announcement that's a lock for WWDC 2025 is the 16th edition of macOS, which will be called macOS 26, Apple has consistently given its macOS updates California-themed names over the past several years, and there are still dozens of likely candidates they haven't used, so it's hard to predict which one macOS 26 will get. The possibilities include Redwood, Mammoth, Condor, and Shasta. Regardless of the name, we expect macOS 26 to get a visual overhaul similar to iOS/iPadOS 26. MacOS 26 may look more like its iPhone and iPad counterparts this year, especially if Apple takes inspiration from visionOS. Changes could include circular app icons, translucent windows, and simplified navigation. Additionally, some features from iOS 26 could carry over to macOS, like AI-powered battery optimization and any Apple Intelligence updates. While it might not be the star of the show, the Apple Watch is expected to receive an update with the 12th edition of watchOS, which will be called watchOS 26, at WWDC 2025. Like this year's other software updates, this update will feature major visual changes. Those visual updates will probably also include more Apple Intelligence features, which the Watch hasn't seen much of yet. For instance, we might get AI-powered health and fitness tools integrated into watchOS or AI-scripted replies to texts. Of course, the Apple Watch will also be able to take advantage of the upcoming Siri update, but as mentioned above, we might not see that until well into 2026, even if it's announced at this year's WWDC. The Apple Vision Pro has struggled to catch on since it launched in February 2024, but Apple is still diligently supporting it with software updates, which could lead to a rumored pair of smart glasses on the horizon. So, it's no surprise that WWDC 2025 will likely include a look at the third edition of visionOS, which will be called visionOS 26. Interestingly, it sounds like the big visual updates to iOS, iPadOS, macOS, and watchOS may have taken some inspiration from visionOS, so this OS might not change as much as the others in the Apple lineup. Even so, it will likely still get a mention in the keynote and possibly a sneak peek at any upcoming apps and movies made for Vision Pro. Apple first announced Apple Intelligence at last year's WWDC, so we expect to see Apple spotlight some updates to its struggling AI platform during this year's keynote. Apple Intelligence got off to a rough start this year, with features slow to roll out and the critical Siri overhaul nowhere in sight. Delays with Apple Intelligence even caused a leadership shake-up at Apple, which will hopefully lead to more features and quicker updates, including the promised LLM Siri update. One feature we could see at WWDC 2025 is a rumored feature that uses AI to optimize battery life in iOS 26. This is a refreshingly practical feature that I can see many iPhone users appreciating (myself included). Hopefully, we'll also get a transparent timeline for when to expect the new-and-improved Siri. Hardware announcements at WWDC are hit or miss. WWDC is mainly for software announcements, but Apple occasionally throws a product reveal into the mix, especially if it's a device that doesn't follow Apple's typical pattern of hardware updates. One such device we could see this year is the Mac Pro M4 Ultra. Apple's top-of-the-line Max and Ultra versions of its M-series chip tend to run at least a year or so behind its more mainstream base and Pro versions. We finally got the M3 Ultra in March with the new Mac Studio, but the M4 Ultra is not publicly available yet. It's possible that could change at WWDC this year. However, an M4 Ultra Mac Pro won't come cheap, especially with Trump administration tariffs shaking up Apple's pricing across its product line-up. While hardware announcements are unlikely at WWDC, a surprise product reveal is possible. Wild card announcements have happened in the past, like with the Apple Vision Pro. There's a slim chance that this year's presentation could include a sneak peek at a rumored pair of AI smart glasses Apple is developing. Google just unveiled a pair of Android-powered glasses at Google I/O, so this would be a good time for Apple to reveal its own glasses to keep up with the competition. According to Bloomberg's Mark Gurman, Apple aims to launch its glasses by the end of 2026, so a reveal could be a bit early. It's not impossible, though, especially right after Google I/O. If you can't wait to see what Apple shows off at WWDC 2025, you can watch the keynote presentation live on Apple's website. The stream will also be on the official Apple Developer YouTube channel, so subscribe to get a notification when the livestream starts there. The keynote presentation will be on June 9 at 10 a.m. Pacific/1 p.m. Eastern. If you can't watch live, you can also follow along with us. Laptop Mag will cover everything Apple announces live and unpack all the highlights. Legendary Apple designer has been tasked with the impossible — what is OpenAI and Jony Ive's next move? App Store rule change takes the headache out of buying books on iOS Kindle app Fortnite returns to iPhone — and this mobile controller is the only way to play it
Yahoo
5 days ago
- Business
- Yahoo
Broadcom Is Back in the $1 Trillion Club. But the Party Has Just Begun and the Stock Can Hit a New All-Time High, According to 1 Wall Street Analyst.
Like most large AI stocks, Broadcom has experienced volatility this year. But its custom chip solutions for artificial intelligence seem to be gaining traction. One Wall Street analyst thinks Broadcom has a much larger serviceable market ahead. 10 stocks we like better than Broadcom › There are only about a handful of stocks that have a $1 trillion market value. The members include some of the most popular in the market -- Nvidia, Tesla, Apple, and Berkshire Hathaway, just to name a few. Toward the end of the last year, the custom chipmaker Broadcom (NASDAQ: AVGO) went on a massive run and joined the exclusive club. However, after the intense sell-off in April due to tariffs and the global trade war, Broadcom fell all the way below a $700 billion market capitalization. After the recent rally that has ensued since mid-April, Broadcom has now rejoined the $1 trillion club (as of May 28). But one Wall Street analyst thinks the party has only just begun and that shares will soon hit a new all-time high. While there will be no unseating Nvidia, long considered the king of the more general graphics processing unit (GPU) space, Broadcom has gained traction with its custom chips designed for more specific work loads. For instance, one of Broadcom's core products is its custom application-specific integrated circuit (ASIC), referred to as XPU. The XPUs are supposed to be better for inference, which in AI means teaching large language models to leverage real-time data to see patterns and make forecasts that help solve specific tasks. Broadcom works with hyperscalers like Meta Platforms and other key players in the AI sector like OpenAI to develop custom chips for their perspective businesses and AI workloads. Melius Research analyst Ben Reitzes views custom chips less as a competitor to Nvidia and more as a complement. "Companies dual source compute from both Nvidia and Broadcom for flexibility around different workloads -- but all remain committed to both," Reitzes said in his recent research note. He also raised his price target on Broadcom from $198 per share to $283, implying another 19.4% upside from current levels. Part of Reitzes' upgrade includes a rerating to value Broadcom at 30 times his projected 2027 earnings instead of a 22 multiple, because the analyst sees a realistic path to 43% compound annual growth in revenue from AI processors over the next decade. Broadcom has also announced new customers for its custom AI chip solutions, potentially increasing its overall market. "With 7 XPU customers now confirmed, the serviceable addressable market could arguably be increased later in the decade to a range of $140-$210 billion -- with Broadcom garnering well over $70 billion in AI revenue later in the decade given its market share at these 7 customers," Reitzes wrote. He also sees potential tailwinds as Broadcom scales its specialized networking chip business and implements larger-than-expected share repurchases. The shares trade at around 36 times forward earnings, so a 30 multiple is not unrealistic if the company continues to add and retain customers. Broadcom continues to grow at a fast clip. In the first quarter of 2025, the company grew revenue by 25%, while earnings per share increased by over 300%. Broadcom's customers also include some of the strongest names in the AI sector. Most of these customers are cash cows with massive capital expenditure (capex) plans. While capex may ebb and flow, the race to create the best AI solutions has only just begun and these large players are going to constantly need to innovate. I also think a stock that is working around or in tandem with Nvidia -- and not as a direct competitor -- is a good place to operate because then Broadcom can more or less feed off Nvidia's growth. Sure, Nvidia will always be the main GPU player, but Broadcom's XPUs can be deployed alongside them and can help AI workloads hone in on specific tasks. For all of these reasons, I would have to agree with Reitzes and assume that a new all-time high for the stock is just a matter of time. Before you buy stock in Broadcom, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Broadcom wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,385!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $842,015!* Now, it's worth noting Stock Advisor's total average return is 987% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway, Meta Platforms, Nvidia, and Tesla. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy. Broadcom Is Back in the $1 Trillion Club. But the Party Has Just Begun and the Stock Can Hit a New All-Time High, According to 1 Wall Street Analyst. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Broadcom Is Back in the $1 Trillion Club. But the Party Has Just Begun and the Stock Can Hit a New All-Time High, According to 1 Wall Street Analyst.
Like most large AI stocks, Broadcom has experienced volatility this year. But its custom chip solutions for artificial intelligence seem to be gaining traction. One Wall Street analyst thinks Broadcom has a much larger serviceable market ahead. 10 stocks we like better than Broadcom › There are only about a handful of stocks that have a $1 trillion market value. The members include some of the most popular in the market -- Nvidia, Tesla, Apple, and Berkshire Hathaway, just to name a few. Toward the end of the last year, the custom chipmaker Broadcom (NASDAQ: AVGO) went on a massive run and joined the exclusive club. However, after the intense sell-off in April due to tariffs and the global trade war, Broadcom fell all the way below a $700 billion market capitalization. After the recent rally that has ensued since mid-April, Broadcom has now rejoined the $1 trillion club (as of May 28). But one Wall Street analyst thinks the party has only just begun and that shares will soon hit a new all-time high. While there will be no unseating Nvidia, long considered the king of the more general graphics processing unit (GPU) space, Broadcom has gained traction with its custom chips designed for more specific work loads. For instance, one of Broadcom's core products is its custom application-specific integrated circuit (ASIC), referred to as XPU. The XPUs are supposed to be better for inference, which in AI means teaching large language models to leverage real-time data to see patterns and make forecasts that help solve specific tasks. Broadcom works with hyperscalers like Meta Platforms and other key players in the AI sector like OpenAI to develop custom chips for their perspective businesses and AI workloads. Melius Research analyst Ben Reitzes views custom chips less as a competitor to Nvidia and more as a complement. "Companies dual source compute from both Nvidia and Broadcom for flexibility around different workloads -- but all remain committed to both," Reitzes said in his recent research note. He also raised his price target on Broadcom from $198 per share to $283, implying another 19.4% upside from current levels. Part of Reitzes' upgrade includes a rerating to value Broadcom at 30 times his projected 2027 earnings instead of a 22 multiple, because the analyst sees a realistic path to 43% compound annual growth in revenue from AI processors over the next decade. Broadcom has also announced new customers for its custom AI chip solutions, potentially increasing its overall market. "With 7 XPU customers now confirmed, the serviceable addressable market could arguably be increased later in the decade to a range of $140-$210 billion -- with Broadcom garnering well over $70 billion in AI revenue later in the decade given its market share at these 7 customers," Reitzes wrote. He also sees potential tailwinds as Broadcom scales its specialized networking chip business and implements larger-than-expected share repurchases. The shares trade at around 36 times forward earnings, so a 30 multiple is not unrealistic if the company continues to add and retain customers. Broadcom continues to grow at a fast clip. In the first quarter of 2025, the company grew revenue by 25%, while earnings per share increased by over 300%. Broadcom's customers also include some of the strongest names in the AI sector. Most of these customers are cash cows with massive capital expenditure (capex) plans. While capex may ebb and flow, the race to create the best AI solutions has only just begun and these large players are going to constantly need to innovate. I also think a stock that is working around or in tandem with Nvidia -- and not as a direct competitor -- is a good place to operate because then Broadcom can more or less feed off Nvidia's growth. Sure, Nvidia will always be the main GPU player, but Broadcom's XPUs can be deployed alongside them and can help AI workloads hone in on specific tasks. For all of these reasons, I would have to agree with Reitzes and assume that a new all-time high for the stock is just a matter of time. Before you buy stock in Broadcom, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Broadcom wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,385!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $842,015!* Now, it's worth noting Stock Advisor's total average return is 987% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway, Meta Platforms, Nvidia, and Tesla. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy. Broadcom Is Back in the $1 Trillion Club. But the Party Has Just Begun and the Stock Can Hit a New All-Time High, According to 1 Wall Street Analyst. was originally published by The Motley Fool
Globe and Mail
16-05-2025
- Business
- Globe and Mail
Nvidia Had a $900 MILLION Bet on CoreWeave in Q1. How Should You Play CRWV Stock Here?
CoreWeave (CRWV) has been in a sharp uptrend in recent sessions as investors continue to cheer its exceptional growth in Q1. Plus, a regulatory filing confirmed this week that Nvidia (NVDA) ended the first quarter with a $900 million stake in the AI infrastructure firm as well. Including its post-earnings gain, CoreWeave stock is up a whopping 140% versus its recent 1-month low. Is It Time to Move to the Sidelines in CoreWeave Stock? CoreWeave saw its revenue soar by more than 400% on a year-over-year basis to $982 million in Q1, indicating extraordinary demand that dismissed broader concerns of an AI slowdown. The artificial intelligence company sees its revenue coming in at $5 billion this year, which would mean a staggering 4.6x growth versus 2024. Additionally, Nvidia's latest filing confirms that CRWV has its vote of confidence as well. Still, Ben Reitzes, a senior Melius Research analyst, says there are significantly better means of gaining exposure to the AI infrastructure market than CoreWeave stock in 2025. His $67 price target on CRWV shares indicates potential downside of more than 15% from here. Why Is Reitzes Cautious on CRWV Shares for 2025? Ben Reitzes is not particularly fond of CoreWeave's reliance on asset-backed financing. In a recent interview with CNBC, he also called out the firm's guidance for up to $23 billion of capital expenditures in 2025 as it assumes a 'ton of terminal growth,' which he's not entirely convinced will come to pass. Another major red flag on the AI stock is the negative $19 billion its management expects in free cash flow this year. Reitzes agreed that CoreWeave was increasingly emerging as an exciting name but said the likes of Nvidia and Broadcom (AVGO) were still better as AI infrastructure plays since they offer much more stability. It just 'doesn't get better than' NVDA and AVGO, he argued in the said interview. What Is Wall Street's Recommendation for CoreWeave? Note that other Wall Street analysts are significantly more bearish on CoreWeave stock for 2025. According to Barchart, the consensus rating on CRWV shares currently sits at 'Moderate Buy' but the mean target of about $50 indicates potential downside of more than 35% from current levels.
