Yahoo Finance The Zacks Analyst Blog Highlights Apple, Broadcom, Adobe, NextEra Energy and Enbridge
For Immediate Release
Chicago, IL – November 14, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple Inc. AAPL, Broadcom Inc. AVGO, Adobe Inc. ADBE, NextEra Energy, Inc. NEE and Enbridge Inc. ENB.
Here are highlights from Monday’s Analyst Blog:
Top Stock Reports for Apple, Broadcom and Adobe
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Apple Inc., Broadcom Inc. and Adobe Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Apple shares have only modestly done better than the Zacks Tech sector this year (+43.4% vs. +41.3%), but they have handily outperformed the broader market (+43.4% vs. +16% for the S&P 500 index). The company expects iPhone and Services' year-over-year growth to accelerate in the fiscal fourth quarter compared with the June quarter. Apple launched four new iPhone models at its product launch event on Sep 12.
Demand for the high-end iPhone 15 Pro Max is strong as shipment delivery has reportedly slipped to mid-November. It also upgraded Airpods and made iOS 17, watchOS 10, iPadOS 17 and tvOS 17 available. Apple is benefiting from increasing customer engagement in the services segment.
The expanding content portfolio of Apple TV+ and robust adoption of Apple Pay and Apple Arcade are helping drive subscriber growth. However, revenues for both Mac and iPad are expected to decline double digits on a year-over-year basis in the fiscal fourth quarter due to difficult comparisons.
(You can read the full research report on Apple here >>>)
Shares of Broadcom have outperformed the Zacks Electronics - Semiconductors industry over the year-to-date period (+74.4% vs. +54.9%). The company is benefiting from the strong deployment of generative AI by hyperscalers, service providers and enterprises.
Broadcom expects generative AI to contribute more than 25% of semiconductor revenues in fiscal 2024 compared with an estimated 15% in fiscal 2023 and roughly 10% in fiscal 2022. Strong demand for Tomahawk 5, Jericho, 10-gigabit PON and DOCSIS 3.1 with embedded Wi-Fi 6 and 6E aids Broadcom's prospects.
Expanding portfolio with the launch of the second-gen Wi-Fi 7 wireless connectivity chip is a catalyst. Broadcom expects networking revenues to grow nearly 20% year over year in the fiscal third quarter. Server storage connectivity revenues are expected to be up low single digits year over year.
(You can read the full research report on Broadcom here >>>)
Adobe shares have outperformed the Zacks Computer - Software industry over the year-to-date period (+77.5% vs. +51.3%). The company is benefiting from strong demand for its creative products. Its Creative Cloud, Document Cloud and Adobe Experience Cloud products are driving the top-line growth.
Rising subscription revenues and solid momentum across the mobile apps are major positives. Additionally, growth in emerging markets and robust online video creation demand remain tailwinds. Additionally, solid demand for Adobe's commerce offerings and growing adoption of Acrobat.
The Zacks analyst remains optimistic about Adobe's market position, compelling product lines and continued innovation. However, the ongoing tensions between Russia and Ukraine remain major headwinds for Digital Media segment. Also, high acquisition expenses do not bode well for its margin expansion.
(You can read the full research report on Adobe here >>>)
Other noteworthy reports we are featuring today include NextEra Energy, Inc. and Enbridge Inc.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Adobe Inc. (ADBE) : Free Stock Analysis Report
Enbridge Inc (ENB) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
