Latest news with #GilLuria
New York Times
10 hours ago
- Business
- New York Times
What if Google Just Broke Itself Up? A Tech Insider Makes the Case.
Google has lost two important antitrust cases in the past year. Its search business is threatened and its stock is stalled. Federal prosecutors are pushing for it to divest various businesses. Unless the company can pull off a few miracles in court, it will be forced to shrink. There's another possibility. Instead of resisting change, Google could accelerate it. It could spin off huge chunks of itself into independent entities. That would be a very Silicon Valley power move: Break yourself up before courts can break you up. In an era when Big Tech is under suspicion, a maneuver like this would probably be applauded across the political spectrum. For a company that used to have the motto 'Don't be evil,' such redemption might be irresistible. The Department of Justice wants Google to sell its Chrome browser and its ad network, and maybe its Android mobile business, to fix its monopoly problems. But Gil Luria, a technology analyst with D.A. Davidson & Co., an investment firm based in Montana with $6 billion under management, is thinking bigger. Much bigger. He published a research note on May 12 saying Google had become a conglomerate. This was not a compliment. He meant that Google offered an array of products and services that often have little relationship to each other, including the Waymo self-driving taxi service, YouTube, a cloud storage business, a search firm and an ad network, among other things. Google's $2 trillion stock market valuation is driven by search advertising, which generates more than half of its revenues. Search is also the part of the company under the most pressure as artificial intelligence begins to answer queries. Google searches in Apple's Safari browser fell for the first time ever in April. That's one big reason Google shares are down more than 9 percent this year. Want all of The Times? Subscribe.
Yahoo
3 days ago
- Business
- Yahoo
Salesforce (CRM) Just Crushed Earnings – So Why Is This Analyst Still Bearish?
We recently published a list of . In this article, we are going to take a look at where Salesforce, Inc. (NYSE:CRM) stands against other AI stocks on Wall Street's radar. On May 29, DA Davidson analyst Gil Luria raised the price target on Salesforce, Inc. (NYSE:CRM) to $225.00 (from $200.00) and maintained an 'Underperform' rating. Salesforce is a cloud-based CRM company that has gained popularity after it unveiled its AI-powered platform called Agentforce. The firm's rating update follows Salesforce's recent earnings report, demonstrating better-than-anticipated results. It reported first-quarter revenue of $9.83 billion, up 8% year-over-year and topping the analyst consensus from Visible Alpha. Meanwhile, adjusted net income was $2.5 billion, or $2.58 per share, rising from $2.41 billion, or $2.44 per share, in the year-ago quarter, also beating estimates. A customer service team in an office setting using the company's Customer 360 platform to communicate with customers. Despite the positive performance, DA Davidson has pointed out concerns about the company's future growth prospects. The firm noted how Salesforce's future outlook has been adjusted to account for foreign exchange impacts and a modest first-quarter beat. It also said that growth in Salesforce's core cloud segments is slowing. However, it is being partially offset by positive developments in sectors such as data cloud and artificial intelligence. Salesforce's committed remaining performance obligations (cRPO) growth was also discussed, which was one percentage point higher than anticipated. Nevertheless, guidance for the second quarter was slightly below expectations, suggesting that the company may experience single-digit constant currency (CC) growth for the first time in its history. Overall, the firm has increased the price target on the stock, but its underperform rating signifies the firm's reservations regarding its stock performance relative to the market. Overall, CRM ranks 3rd on our list of AI stocks on Wall Street's radar. While we acknowledge the potential of CRM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRM and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. 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
Time of India
4 days ago
- Business
- Time of India
Salesforce raises annual results forecast on strong cloud spending
Salesforce raised its revenue and adjusted profit forecasts for fiscal 2026 on Wednesday, as the enterprise software provider benefits from strong cloud spending while ramping up monetisation of its artificial intelligence agents. Cloud spending from major enterprises has remained resilient even amid global macroeconomic uncertainty over the past few months, as companies invest heavily in artificial intelligence to modernize their digital infrastructure. Shares of the company were up around 1.5% in extended trading. Higher cloud spending bodes well for Salesforce's efforts to ramp up monetization for its AI agent platform, Agentforce , as it bets big on agentic technology to spur adoption of its software offerings. The company said it closed over 8,000 deals since launching Agentforce, with half of them already paid. Its Data Cloud and AI annual recurring revenue has exceeded $1 billion. While Agentforce's monetization has underperformed investors' expectations, "experts have cited a multi-billion dollar revenue opportunity by the end of 2026, with the expectation that Agentforce will ultimately become Salesforce's largest revenue contributor," said Third Bridge analyst Charlie Miner. Salesforce bought data management platform Informatica for about $8 billion on Tuesday to bolster its data tools. The company's re-entry into big-ticket M&A after years on the sidelines sparks concerns about Salesforce's ability to return to double-digit growth without relying on acquisitions. "The acquisition of Informatica represents an attempt by the company to compensate for the slowing organic growth," said Gil Luria, analyst at D.A. Davidson. The company expects fiscal 2026 revenue to be between $41 billion and $41.3 billion, compared with its prior forecast range of $40.5 billion to $40.9 billion. It raised its full-year forecast for adjusted earnings per share to a range of $11.27 to $11.33, compared to its previous forecast of $11.09 to $11.17 per share. The company reported first-quarter revenue of $9.83 billion, beating estimates of $9.75 billion, according to data compiled by LSEG.
Yahoo
5 days ago
- Business
- Yahoo
Broadcom (AVGO) Is Gaining Market Share in the AI-Chip Space, Tech Researcher Says
Broadcom Inc. (NASDAQ:AVGO) is gaining market share in the AI-chip space as more tech giants look to obtain fewer of their AI chips from Nvidia Corporation (NASDAQ:NVDA) by making their own semiconductors, Gil Luria of investment bank DA Davidson said on CNBC recently. Luria is the Head of Technology Research at DA Davidson. A technician working at a magnified microscope, developing a new integrated circuit. With Broadcom Inc. (NASDAQ:AVGO)'s help, (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOG) are increasing the production of their own AI chips, Luria said. Meanwhile, Tesla, Inc. (NASDAQ:TSLA), Meta Platforms, Inc. (NASDAQ:META), and Microsoft Corporation (NASDAQ:MSFT) are evaluating AI chips that they've developed and are attempting to produce more of them, the researcher noted. "Broadcom Inc. (NASDAQ:AVGO) has an opportunity to grow its (market) share (further) as it helps other companies make their own chips," Luria contended. In the last month, the shares have climbed 22%, while they have advanced 11% in the last three months. While we acknowledge the potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVGO and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: The author owns shares of AMZN but has no intention of trading them in the next 48 hours. This article is originally published at Insider Monkey.
Yahoo
5 days ago
- Business
- Yahoo
Broadcom (AVGO) Is Gaining Market Share in the AI-Chip Space, Tech Researcher Says
Broadcom Inc. (NASDAQ:AVGO) is gaining market share in the AI-chip space as more tech giants look to obtain fewer of their AI chips from Nvidia Corporation (NASDAQ:NVDA) by making their own semiconductors, Gil Luria of investment bank DA Davidson said on CNBC recently. Luria is the Head of Technology Research at DA Davidson. A technician working at a magnified microscope, developing a new integrated circuit. With Broadcom Inc. (NASDAQ:AVGO)'s help, (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOG) are increasing the production of their own AI chips, Luria said. Meanwhile, Tesla, Inc. (NASDAQ:TSLA), Meta Platforms, Inc. (NASDAQ:META), and Microsoft Corporation (NASDAQ:MSFT) are evaluating AI chips that they've developed and are attempting to produce more of them, the researcher noted. "Broadcom Inc. (NASDAQ:AVGO) has an opportunity to grow its (market) share (further) as it helps other companies make their own chips," Luria contended. In the last month, the shares have climbed 22%, while they have advanced 11% in the last three months. While we acknowledge the potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVGO and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: The author owns shares of AMZN but has no intention of trading them in the next 48 hours. This article is originally published at Insider Monkey. 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
