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What I’m looking forward to on July 25, 2022
Snap’s (SNAP) rating is still being downgraded, this time by Wolfe Research and Morgan Stanley. How could they be wrong? Does Winner Take All, Loser Take Nothing, vs. Alphabet’s (GOOGL) Google and Facebook Meta Platforms (META)? SNAP is down 2% in the primary market after falling 39% on Friday.
Reset Barclays Semiconductor: Club Nvidia Contract (NVDA) stock price target to $200 per share from $295; Skyworks Solutions (SWKS) to $122 from $125; Club Marvell Technology (MRVL) contract $60 from $80. Qorvo (QRVO) to $120 from $135. This is what is required for progress.
- Barclays goes to buy (equal weight from overweight) at Lam Research (LRCX), and says it’s too early to buy the dip. Kabir says a reset is required, and lowers the target price to $450 per share from $625. I don’t know, do you really want to do this before a potential CHIPS act succeeds on Capitol Hill? Barclays lowers PT on KLA Corporation (KLAC) to $325 from $365.