Monday, December 12, 2022
 

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 JPMorgan Chase & Co. (JPM), Intel Corp. (INTC) and Advanced Micro Devices, Inc. (AMD). 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 >>>
 

Shares of JPMorgan have outperformed the Zacks Banks - Major Regional industry over the past six months (+13.9% vs. +4.2%). In fact, JP Morgan’s third-quarter 2022 results show positive effects of higher rates and solid loan demand as well as robust trading performance, while a worsening macroeconomic outlook was a headwind.
 

The Zacks analyst believes that opening new branches, strategic buyouts/investments and global expansion and digitization efforts will keep driving financials. Higher rates and a steady rise in loan demand will keep aiding net interest income (NII). Yet, the volatile nature of the capital markets business and higher mortgage rates are likely to make fee income growth tough. Steadily rising expenses remain a key issue.
 

(You can read the full research report on JPMorgan here >>>)
 

Intel’s shares have declined -45.2% over the year to date period against the Zacks Semiconductor - General industry’s loss of -37.3%. The tech giant reported mixed third-quarter 2022 results, wherein the bottom line beat the Zacks Consensus Estimate while the top line missed. Both revenues and earnings declined year over year, owing to a challenging macroeconomic environment and softening demand trends.
 

The Zacks analyst believes that production delays pertaining to its 7 nm ramp up remain a concern. An imposition of fresh lockdown restrictions in some markets, forex woes and high debt burden are other headwinds. It is witnessing intensifying competition in the server, networking and storage markets, while inflated raw material costs and signs of market saturation are worrisome.
 

The Sino-US trade war is also adversely impacting its growth prospects. However, its Mobileye growth should be driven by design wins amid recovering automotive industry. Recovery in the enterprise business of the data center segment is a positive.
 

(You can read the full research report on Intel here >>>)
 

Advanced Micro Devices’ shares have declined -48.7% over the past year against the Zacks Electronics – Semiconductors industry’s loss of -25.9%. The Zacks analyst believes that Advanced Micro Devices’ data center GPU revenues were down significantly year over year against tough comparisons.

Nevertheless, AMD witnessed record sales of Xilinx FPGA and networking data center products. Pensando DPUs also witnessed strong demand. However, Client segment revenues declined year over year reflecting declining PC shipment.
 

AMD’s third-quarter 2022 results benefited from higher Data Center and Embedded revenues. It’s Data Center sales benefited from strong sales of third-gen EPYC server processors. Cloud revenues more than doubled year over year and increased sequentially as multiple hyperscalers expanded the deployment of EPYC processors.
 

(You can read the full research report on Advanced Micro Devices here >>>)
 

Other noteworthy reports we are featuring today include Moderna, Inc. (MRNA), Target Corp. (TGT) and Suncor Energy Inc. (SU).
 

Mark Vickery
Senior Editor

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>