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AVGO

GOOG

GOOGL

BofA analyst Vivek Arya reaffirmed a Buy rating on Broadcom Inc (AVGO) with a price target of $1200, citing generative AI and custom silicon as key growth drivers. Arya estimates a 2.3% to 7.3% EPS accretion in FY24 and FY25, with potential for over 10% accretion and $60+ EPS in CY25 if synergies are realized quickly. Risks include macro conditions and integrating VMware Inc synergies, as well as managing Broadcom's $67 billion debt. Arya sees any volatility upon VMware's acquisition close as a buying opportunity. Susquehanna analyst Christopher Rolland also maintained a Positive rating on Broadcom, raising the price target from $1010 to $1100. AVGO shares were down slightly at $947.61.

Portfolio Pulse from Anusuya Lahiri

November 28, 2023 | 5:20 pm

NVDA

NVIDIA announced a new generative AI microservice at AWS re:Invent, designed to integrate custom large language models with enterprise data, enhancing AI applications with accurate responses.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 5:16 pm

MITK

Abrigo, a provider of compliance, credit risk, and lending solutions, has partnered with Mitek Systems (MITK), a global leader in digital identity verification solutions, to enhance fraud detection capabilities for financial institutions. This partnership will integrate Mitek's identity verification technology into Abrigo's platform, aiming to improve the accuracy and efficiency of fraud detection processes for their clients.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 5:05 pm

AMZN

At AWS re:Invent, CEO Adam Selipsky announced that AWS will indemnify customers against copyright infringement claims related to its AI models. This move aims to protect customers using AWS's AI services and encourage more businesses to adopt AI without fear of legal repercussions.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 5:01 pm

AVO

Roth MKM has maintained its Buy rating for Mission Produce (NASDAQ:AVO) but reduced its price target from $18.00 to $12.50. Despite the reduction, the new target suggests a potential upside of 40.92% from the current price of $8.87. Mission Produce is involved in avocado production and distribution, with additional services such as ripening and logistical management. The company earns most of its revenue from its Marketing and Distribution segment.

Portfolio Pulse from Benzinga Insights

November 28, 2023 | 5:00 pm

AAPL

CRWD

ETSY

GOOG

META

PLTR

Gene Munster of Deepwater Asset Management highlighted several sub-$50 billion market cap tech companies with potential to double or triple in value over the next year. On CNBC's 'Squawk Box,' Munster suggested investors should have exposure to tech, including mega-cap names like Meta Platforms, Alphabet, and Apple, which are trading near 52-week highs. However, he believes the real growth will come from smaller companies. Munster shared five of Deepwater's picks: CrowdStrike, Palantir Technologies, Zillow Group, Etsy, and private company Redwood Materials. He sees CrowdStrike and Palantir as underappreciated, with CrowdStrike set to report earnings and Palantir riding the AI wave. Etsy could benefit from holiday shopping, and Zillow is innovating in real estate with a new app version.

Portfolio Pulse from Adam Eckert

November 28, 2023 | 4:57 pm

SWTX

SpringWorks Therapeutics' stock is trading higher following the announcement of FDA approval for their product OGSIVEO.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 4:50 pm

AMZN

NVDA

At AWS re:Invent, NVIDIA's CEO announced the deployment of new L4, L40, and the brand new Gh200 chips at AWS. This collaboration showcases NVIDIA's latest technology being integrated into Amazon's cloud computing services, potentially enhancing AWS's offerings with advanced AI and computing capabilities.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 4:38 pm

APO

JPM

JPMorgan Chase (JPM) and Apollo Global Management (APO) are partnering to create a tokenized enterprise mainnet, building on their collaboration in the Monetary Authority of Singapore’s Project Guardian. The mainnet will allow the addition of applications to a KYC-compliant network of financial institutions. The initiative is compared to Ethereum's early strides in the blockchain space, with the potential to lay the groundwork for future innovations. JPMorgan has already processed over $900 billion in assets and $2 billion per day in intraday repos through its platform.

Portfolio Pulse from Khyathi Dalal

November 28, 2023 | 4:31 pm

AMZN

AWS announced new AWS-designed chips, Graviton4 and Trainium2, at AWS re:Invent. Graviton4 offers up to 30% better compute performance, 50% more cores, and 75% more memory bandwidth than Graviton3. Trainium2 provides up to 4x faster training for ML models and can be deployed in EC2 UltraClusters of up to 100,000 chips. Customers like Anthropic, Databricks, Datadog, Epic, Honeycomb, and SAP are using these chips. Graviton4 will be available in EC2 R8g instances, and Trainium2 in EC2 Trn2 instances. The chips aim to deliver better price performance, energy efficiency, and are designed for workloads like ML training and generative AI applications.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 4:26 pm