Palantir downgraded, Micron PT raised ahead of earnings

From Investing.com: 2024-06-23 04:10:09

Analysts at Truist Securities affirm Microsoft (NASDAQ:) as the top AI play, attributing the company’s success to its evolving AI strategy. Meanwhile, OpenAI maintains a strong lead in the LLM space, with a solid first-mover advantage in enterprise AI applications.

Monness, Crespi, and Hardt downgrade Palantir Technologies Inc (NYSE:) from Neutral to Sell with a $20 target price. The decision is based on the disappointing earnings season for enterprise software and the unsustainable generative AI hype cycle, leading to inflated valuations and uncertain revenue prospects.

Bernstein raises Apple Inc (NASDAQ:) target price to $240, reflecting confidence in the company’s potential to excel in AI. With a massive user base, Apple can leverage AI to enhance user experience. Additionally, optimism for the upcoming iPhone 16 and its advanced AI features contributes to positive investor sentiment.

Wedbush Securities boosts Micron Technology Inc’s (NASDAQ:) price target to $170 ahead of earnings report. Analysts anticipate sustained industry undersupply through 2025, resulting in higher ASPs, revenues, and margins. Positive industry dynamics and lack of new investments bode well for Micron’s financial performance.

Rosenblatt Securities praises Adeia Inc (NASDAQ:) as the most undervalued AI play in the market. The company’s IP offerings in semiconductors and digital entertainment place it at the forefront of AI growth sectors. With a strong operating margin and valuable IP, Adeia is positioned for success in the AI market.



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