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  UBS REDUCES ESTIMATES ON MICROSOFT DUE TO “TOO HIGH” AZURE GROWTH EXPECTATIONS, RESULTING IN A 2% DROP IN STOCK PRICE . UBS analysts have maintained a Neutral rating and a price target of $275 per share on Microsoft (NASDAQ: MSFT), citing concerns that Azure estimates are still too high. The analysts have conducted around 20 checks with Azure and AWS customers, and their conclusion is that the 2023 estimates for AWS, Azure, and Google’s Cloud are too high. They believe that customer efforts to optimize and trim their cloud spend will persist at a high level throughout 2023. According to UBS, recent trends such as spend optimization/cuts, slower migration, and new developer activity, have continued into 1Q23 and seem worse than three months ago. As a result, UBS has revised its cloud segment growth estimate to 24% in the June quarter at a constant currency, lower than the prior estimate of 25% and the Street’s 27%. Regarding the upcoming earnings call, the analysts expect that Mic...

  ASTON MARTIN TO DELIVER FEWER CARS THIS YEAR AS SHARES GO INTO REVERSE Aston Martin’s debt interest payments have pushed it to a deeper loss as the luxury car maker warned that renewed supply chain problems mean it will sell fewer cars than expected this year. The luxury car maker had targeted sales of more than 6,600 this year but said it may now sell closer to 6,200 as it struggles to source some parts. The target reduction came as the company posted a loss for the July to September quarter of £226m, more than double the £98m it lost in the same period a year ago. Losses for the year so far have now reached £511m. Aston Martin’s continued struggles stand in stark contrast to rival luxury marque Ferrari, which said it would surpass both its sales and profit targets for the year after a “very robust” third quarter. ASTON MARTIN TECHNICAL ANALYSIS Read More   Visit Us For More Article And Technical Analysis Report

  MICROSOFT FALLS AFTER A ‘SIGNIFICANT’ GUIDANCE MISS Shares of Microsoft (NASDAQ:MSFT) are trading nearly 6% down in early Wednesday trading after the tech titan offered soft guidance for its fiscal second quarter while also lowering the 2023 revenue outlook. Microsoft reported an EPS of $2.35 to top the analyst estimate of $2.32. Revenue jumped 11% YoY to $50.1 billion, again higher than the consensus of $49.86 billion. This marks the weakest quarterly sales growth in five years for Microsoft. Microsoft Azure grew 35% to generate $20.33 billion in sales, while analysts were looking for a 36% growth rate. Microsoft’s Productivity and Business Processes and Personal Computing units topped analyst views. “In a world facing increasing headwinds, digital technology is the ultimate tailwind. In this environment, we’re focused on helping our customers do more with less, while investing in secular growth areas and managing our cost structure in a disciplined way,” said Satya Nadella, cha...

  GOLDMAN SACHS UNVEILS REVAMP AS THIRD-QUARTER PROFIT FALLS Goldman Sachs Group Inc (NYSE:GS) said on Tuesday it was reorganizing its business into three units, as the Wall Street giant undertakes another overhaul in less than three years, and reported a drop in third-quarter profit. Profit applicable to common shareholders fell to $2.96 billion, or $8.25 per share, in the quarter ended Sept. 30, from $5.28 billion, or $14.93 per share, a year ago. Analysts had expected a profit of $7.69 per share, according to Refinitiv data. It was not immediately clear if the reported numbers were comparable to estimates. It is the biggest shakeup by the investment bank in just over two years and outlined plans for four core units: investment banking, global markets, consumer and wealth management and asset management. The reshuffle comes as the Wall Street titan seeks to boost its income from fee-based businesses at a time when rising interest rates have dented valuations and deal-making. The ...

  VOLKSWAGEN TARGETING 20-30% AUTOMATION AT NEW ELECTRIC VEHICLE PLANT Volkswagen (ETR:VOWG_p) is looking at automating 20-30% of production at its upcoming Trinity plant near its Wolfsburg headquarters, the plant’s chief production officer said on Tuesday. “Assembly is still 90% manual work,” Sebastian Schmickartz said at a suppliers summit in Wolfsburg. “This is what we want to change with the new factory. We are looking at 20-30% automation.” The Trinity plant, where the German carmaker will build a new flagship electric sedan, is due to begin pre-series production in 2025, with the official start of production in 2026. The key to automating more of its assembly line will be moving to a module-based strategy, Schmickartz said, condensing 50 parts into one through techniques like die casting to produce front-end, back-end and roof modules. Volkswagen brand production chief Christian Vollmer told Reuters earlier this year the carmaker hoped this production strategy would help boos...

TESLA’S LOGISTICAL CHALLENGES OVERSHADOW RECORD DELIVERIES Tesla  Inc on Sunday announced lower-than-expected electric vehicle deliveries in the third quarter, as logistical challenges overshadowed its record deliveries. The top electric car maker said “it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost,” but some analysts were also concerned about demand for high-ticket items due to the weakening global economy. “The economy around the edges is still having a negative impact for Tesla (NASDAQ:TSLA) that’s mostly logistical. But I think there is some demand (issues) sprinkled in there,” Wedbush Securities analyst Dan Ives told Reuters after the delivery results. “There is a dark cloud over the auto sector. And Tesla is not immune.” Tesla delivered 343,830 electric vehicles, a record for the world’s most valuable automaker, but less than the 359,162 analysts on average had expected, according to Refinitiv. A year earlier Tesla ...