Tech en Apple $425 Per Share Case 'On The Horizon,' Analyst Says <p><strong>Apple Inc.</strong> (NASDAQ: <a class="ticker" href="">AAPL</a>) has weathered the economic impact of the novel coronavirus pandemic in a &quot;Jacques Cousteau-like fashion,&quot; and the consumer electronics company <a href=";mime=pdf&amp;co=wedbush&amp;;source=mail">could become</a> the first to cross $2 trillion in market valuation by the end of 2021, according to Wedbush.</p> <h3>AAPL Rating, Price Target</h3> <p>Wedbush analyst <a href="">Daniel Ives</a> maintained an outperform rating and increased its price target from $350 to $375. Ives upgraded its bull case for AAPL shares from $400 to $425.</p> <h3>&#39;Major 5G cycle on the horizon&#39; For Apple</h3> <p>Wedbush said in an analyst note on Thursday that Apple is best set to benefit from the growth of 5G standard for cellular networks, alongside a growth in its services business.</p> <p>The analysts reiterated ...</p><p><a href= alt=Apple $425 Per Share Case &#039;On The Horizon,&#039; Analyst Says>Full story available on</a></p> 5G AAPL Covid-19 iPhone News Tim Cook Wedbush Retail Sales Analyst Ratings Tech General AAPL US0378331005 News Retail Sales Analyst Ratings Tech General Benzinga Fri, 05 Jun 2020 04:07:30 +0000 Neer Varshney 16186352 at What Elon Musk Thinks About Amazon: 'Monopolies Are Wrong!' <p>Elon Musk, CEO of <strong>Tesla Inc</strong> (NASDAQ: <a class="ticker" href="">TSLA</a>) and SpaceX, is once again tweeting at Jeff Bezos, saying it&rsquo;s time to break up <strong>, Inc. </strong>(NASDAQ: <a class="ticker" href="">AMZN</a>).</p> <h3><strong>What Happened</strong></h3> <p>Musk&rsquo;s tweet <a href="">was in response to</a> New York Times journalist Alex Berenson, whose kindle book was apparently censored by Amazon. Berenson tweeted in frustration: &ldquo;THEY CENSORED IT! It is based entirely on published government data and scientific papers. It doesn&rsquo;t say coronavirus isn&rsquo;t real or doesn&rsquo;t kill people (in fact, the worst-case death toll is likely to be striking to people). And Amazon won&rsquo;t run it.&rdquo;</p> <p>Social networks and publishing ...</p><p><a href= alt=What Elon Musk Thinks About Amazon: &#039;Monopolies Are Wrong!&#039;>Full story available on</a></p> AMZN Elon Musk Jeff Bezos News TSLA Top Stories Tech AMZN US0231351067 TSLA US88160R1014 News Top Stories Tech Benzinga Thu, 04 Jun 2020 19:15:13 +0000 Tanzeel Akhtar 16183396 at What To Make Of Snapchat's Decision To Stop Promoting Trump <p><strong>Snap Inc</strong> (NYSE: <a class="ticker" href="">SNAP</a>) will no longer promote U.S. President Donald Trump&#39;s account on Snapchat&#39;s&nbsp;&quot;Discover&quot; page.&nbsp;Axios&#39; Sara Fischer was a guest on <a href=";feature=emb_title">CNBC&#39;s &quot;Squawk Box&quot;</a> to&nbsp;discuss her report and the broader takeaway in the social media sector.</p> <h3><strong>Impact On Facebook</strong></h3> <p>Snapchat&#39;s decision contrasts <strong>Facebook, Inc.</strong> (NASDAQ: <a class="ticker" href="">FB</a>) Mark Zuckerberg, who said the company doesn&#39;t want to take on the role of being &quot;arbiters of truth.&quot;</p> <p>Fischer said Zuckerberg is now in a ...</p><p><a href= alt=What To Make Of Snapchat&#039;s Decision To Stop Promoting Trump>Full story available on</a></p> Axios FB Sara Fischer SNAP SnapChat social media Politics Tech Media General FB SNAP Politics Tech Media General Benzinga Thu, 04 Jun 2020 18:30:31 +0000 Jayson Derrick 16182554 at Cloudera Analysts Say Private, Public Cloud Traction Key After Mixed Q1 <p>Cloud-based enterprise data company <strong>Cloudera Inc </strong>(NYSE: <a class="ticker" href="">CLDR</a>) reported better-than-expected first-quarter results but issued below-par guidance Wednesday, sending its <a href=""> shares </a> lower.</p> <h3>The Cloudera Analysts</h3> <p>BofA Securities analyst <a href=""> Kash Rangan </a> reiterated an Underperform rating on <a href="">Cloudera shares</a>&nbsp;with an $8 price target.</p> <p>Wedbush analyst <a href=""> Daniel Ives </a> maintained a Neutral rating and hiked the price target from $12 to $14.</p> <p>Needham analyst <a href=""> Jack Andrews </a> reiterated a Hold rating.</p> <p>Stifel analyst <a href=""> Brad Reback </a> maintained a Hold rating and $11 price target.</p> <p>Morgan Stanley analyst <a href=""> Sanjit Singh</a> maintained an Overweight rating and nudged up the price target from $14 to $15.</p> <h3>Cloudera&#39;s Long-Term Guidance Could Be Challenging, BofA Says</h3> <p>Cloudera&#39;s first-quarter results reflected a large deal size momentum, lower churn, higher renewal rates and adoption of new products, Rangan said in a Thursday note.</p> <p>The company may find it challenging to achieve its longer-term guidance of 15-20%-plus&nbsp;revenue growth and 20%-plus cash flow margins due to several moving pieces, the analyst said.&nbsp;</p> <p>Among the challenges Rangan highlighted were sustained intense competition from public cloud vendors, uncertainty over the success of its recently released first-generation CDP Public Cloud and the likelihood of the yet-to-be released CDP Private Cloud succeeding.&nbsp;</p> <p>BofA attributed the lowered price target to&nbsp;lower revenue ...</p><p><a href= alt=Cloudera Analysts Say Private, Public Cloud Traction Key After Mixed Q1>Full story available on</a></p> Analyst Color BofA Securities Brad Reback CLDR cloud Daniel Ives Earnings Jack Andrews Kash Rangan Morgan Stanley Needham News Sanjit Singh Stifel Wedbush Guidance Price Target Reiteration Analyst Ratings Tech Trading Ideas CLDR US1890971088 News Analyst Color Earnings Guidance Price Target Reiteration Analyst Ratings Tech Trading Ideas Benzinga Thu, 04 Jun 2020 18:27:15 +0000 Shanthi Rexaline 16180687 at Tesla Will Be Rolling Out Cars At Berlin Plant In Less Than A Year, Government Official Says <p><strong>Tesla Inc.</strong> (NASDAQ: <a class="ticker" href="">TSLA</a>) is tweaking its proposal for the Berlin manufacturing facility in a way that will both please environmental activists and keep the production on time, a local government official said, as <a href="">reported</a> by Bloomberg on Thursday.</p> <h3>What Happened</h3> <p>&quot;We expect a proposal that in sum will be more environmentally acceptable and thereby even more approvable,&quot; Joerg Steinbach, the economy minister of Brandenburg, where the Tesla site is located, ...</p><p><a href= alt=Tesla Will Be Rolling Out Cars At Berlin Plant In Less Than A Year, Government Official Says>Full story available on</a></p> Berlin Bloomberg Elon Musk Government News TSLA Management Global Tech Media TSLA US88160R1014 News Government Management Global Tech Media Benzinga Thu, 04 Jun 2020 10:42:55 +0000 Neer Varshney 16177143 at Twitter CEO Jack Dorsey To Donate $3M For Advancement Of Black And Brown Communities <p><strong>Twitter Inc.</strong> (NYSE: <a class="ticker" href="">TWTR</a>) CEO Jack Dorsey is <a href="">giving</a> $3 million to NFL player Colin Kaepernick&rsquo;s Know Your Rights Camp organization.</p> <h3>What Happened</h3> <p>Dorsey, who is the chief executive of both Twitter and <strong>Square (</strong>NYSE: SQ), a mobile payment and merchant aggregator firm, took to Twitter on Wednesday to announce the donation.&nbsp;</p> <blockquote class="twitter-tweet"><p>More <a href=";ref_src=twsrc%5Etfw">#startsmall</a> grants.<br /> $3mm to Colin <a href="">@Kaepernick7</a>&rsquo;s <a href="">@yourrightscamp</a> to advance the liberation and well-being of Black and Brown communities through education, self-empowerment, mass-mobilization to elevate the next generation of change leaders. <a href=""></a></p> <p>&mdash; jack (@jack) <a href="">June 3, 2020</a></p></blockquote> <script async ...<p><a href= alt=Twitter CEO Jack Dorsey To Donate $3M For Advancement Of Black And Brown Communities>Full story available on</a></p> CNBC Donald Trump George Floyd GOOG GOOGL Jack Dorsey News Square TWTR Entrepreneurship Management Tech Media General GOOG US38259P7069 GOOGL US38259P5089 TWTR US90184L1026 News Entrepreneurship Management Tech Media General Benzinga Thu, 04 Jun 2020 09:29:53 +0000 Shivdeep Dhaliwal 16176144 at Uber's Ride-Hailing Business Shows Recovery In May, Food Delivery Continues On Pandemic Growth, CEO Says <p><strong>Uber Technologies Inc.</strong> (NYSE: <a class="ticker" href="">UBER</a>) is seeing its business slowly recovering from lows hit earlier this year due to the novel coronavirus-related (COVID-19) lockdowns, Chief Executive Officer Dara Khosrowshahi said in a conference call with Bank of America analysts, Reuters <a href="">reported</a>.</p> <h3>What Happened</h3> <p>Khosrowshahi said the total rides in May were down 70% compared to the similar month a year ago, according to Reuters. This is an improvement over April, where the San Francisco-based company reported rides being down 80% year-on-year.</p> <p>The Uber CEO further told BoA analysts that the ...</p><p><a href= alt=Uber&#039;s Ride-Hailing Business Shows Recovery In May, Food Delivery Continues On Pandemic Growth, CEO Says>Full story available on</a></p> Covid-19 Dara Khosrowshahi LYFT News Reuters UBER Tech Media UBER LYFT News Tech Media Benzinga Thu, 04 Jun 2020 08:43:28 +0000 Neer Varshney 16176689 at Snap Says It Will No Longer Promote Trump's Content, Says He Incites Racial Violence <p><strong>Snap Inc. </strong>(NYSE: <a class="ticker" href="">SNAP</a>) shares traded lower&nbsp;Wednesday after the company said&nbsp;it is halting promotion of President Donald Trump&#39;s content on its platform.</p> <p>&ldquo;We will not amplify voices who incite racial violence and injustice by giving them free promotion on Discover,&rdquo; Snap said in a statement.&nbsp;</p> <p>&ldquo;Racial violence and injustice have no place in our society and we stand together with all who seek peace, love, equality, ...</p><p><a href= alt=Snap Says It Will No Longer Promote Trump&#039;s Content, Says He Incites Racial Violence>Full story available on</a></p> News SNAP TWTR Politics Tech General TWTR US90184L1026 SNAP News Politics Tech General Benzinga Wed, 03 Jun 2020 20:13:18 +0000 Tanzeel Akhtar 16172631 at Zoom Analysts On Work-From-Home Boost, Churn Concerns After 'Historic' Q1 Print <p><strong>Zoom Video Communications Inc </strong>(NASDAQ: <a class="ticker" href="">ZM</a>) <a href=""> reported </a> a big first-quarter beat Tuesday, but the stock reaction has been muted as investors express uneasiness over a sky-high valuation.&nbsp;&nbsp;</p> <h3>The Zoom Analysts</h3> <p>KeyBanc Capital Markets analyst <a href=""> Alex Kurtz </a> maintained a Sector Weight rating on Zoom shares.</p> <p>Needham analyst <a href=""> Richard Valera </a> maintained a Buy rating and&nbsp;upped the price target from $140 to $230.</p> <p>Oppenheimer analyst <a href=""> Ittai Kidron </a> maintained a Perform rating.</p> <p>Cantor Fitzgerald analyst <a href=""> Drew Kootman </a> maintained an Overweight rating and lifted the price target from $150 to $261.</p> <p>Stifel analyst <a href=""> Tom Roderick </a> maintained a Hold rating and&nbsp;increased the price target from $105 to $180.</p> <h3>Focus On Zoom&#39;s Churn, KeyBanc Says</h3> <p>Zoom Video&#39;s first quarter is a historic one given the 169% year-over-year revenue growth and 346% billings growth, KeyBanc analyst Kurtz said. The analyst said the revenue contribution of sub-10-person users increased from 20% in the previous quarter to 30%, indicating smaller user cases.</p> <p>Investors are likely to focus on how churn plays out in the second half of the year as one-time users leave the platform, according to KeyBanc.&nbsp;</p> <h3>Zoom Has Multiyear Growth Runway, Needham Says</h3> <p>Zoom Video smashed its first-quarter print and guidance, a performance not seen in 20-pls&nbsp;years of Needham&#39;s tech coverage, analyst Valera said.</p> <p>The analyst sees two conflicting dynamics driving the company&#39;s results in the near-term:&nbsp;increased churn relative to historical levels&nbsp;and increased opportunity from both a lasting secular shift toward remote work and ...</p><p><a href= alt=Zoom Analysts On Work-From-Home Boost, Churn Concerns After &#039;Historic&#039; Q1 Print>Full story available on</a></p> Alex Kurtz Analyst Color Cantor Fitzgerald CSCO Drew Kootman Earnings Gene Munster Ittai Kidron KeyBanc Capital Markets Loup Ventures MSFT Nedham News Richard Valera Stifel Tom Roderick ZM Price Target Reiteration Analyst Ratings Tech Trading Ideas CSCO US17275R1023 MSFT US5949181045 ZM News Analyst Color Earnings Price Target Reiteration Analyst Ratings Tech Trading Ideas Benzinga Wed, 03 Jun 2020 19:34:02 +0000 Shanthi Rexaline 16170172 at McLeod Software Partners With Vector To Streamline Fleet Billing, Operations <p><a href="">Vector, </a>a digital solutions startup for transportation providers, today announced a partnership with <a href="">McLeod Software</a>, a transportation management system (TMS) provider for carriers, brokers and shippers. The integration is designed to accelerate fleet billing and operations for truck drivers and back office workers, according to a press statement.</p> <p>McLeod Software provides an ERP system that supports trucking companies&#039; core business operations, including financial management, billing settlements and operations dispatch. </p> <p>The Birmingham, Alabama-based firm has a group that evaluates new innovations to see how they might boost trucking companies&#039; productivity, Kenneth Craig, vice president of special projects for McLeod Software, told FreightWaves<a href=""> in an interview last year.</a></p> <p>"We ...</p><p><a href= alt=McLeod Software Partners With Vector To Streamline Fleet Billing, Operations>Full story available on</a></p> Freight Freightwaves News Tech General News Tech General Benzinga Wed, 03 Jun 2020 17:38:46 +0000 FreightWaves 16171922 at Dell EMC OpenManage Enterprise 3.4 Saved Time and Effort on Data Center Tasks, a New Principled Technologies Study Reveals <p>Experts at Principled Technologies (PT) tested several data center use cases to measure the time and effort Dell EMC OpenManage Enterprise 3.4 could save over manual processes.</p> <p>Durham, NC, June 03, 2020 --(<a rel="nofollow" href="" rel="nofollow"></a>)-- An IT administrator&#8217;s day is often full of tasks that are relatively simple but time-consuming. These tasks can distract from other initiatives that are less urgent but more important in the long run. Principled Technologies found that by using Dell EMC OpenManage Enterprise 3.4 instead of a manual approach, admins can consolidate their workflows and cut down ...</p><p><a href= alt=Dell EMC OpenManage Enterprise 3.4 Saved Time and Effort on Data Center Tasks, a New Principled Technologies Study Reveals>Full story available on</a></p> business News Tech Press Releases Wed, 03 Jun 2020 15:37:57 +0000 16170808 at Morgan Stanley Bullish On Rising App Store Revenue, Raises Apple Price Target <p>Data from Sensor Tower points to <strong>Apple Inc.</strong> (NASDAQ: <a class="ticker" href="">AAPL</a>) growing its <a href="">App Store</a> net revenue by 39% year-over-year in May, and this trend bodes well for the stock, according to Morgan Stanley.</p> <h3>The Apple Analyst</h3> <p><a href="">Katy Huberty</a> maintained&nbsp;an Overweight rating on Apple&nbsp;and lifted the price target from $326 to $340.</p> <h3>The Apple Thesis</h3> <p>Apple&#39;s App Store performance in May could prove to be the strongest year-over-year growth seen since April 2017, Huberty said in a Wednesday note. (See her track record <a href="">here</a>.)</p> <p>Since the start of the second calendar quarter, App Store net revenue is tracking higher by 35% year-over-year, and this is &quot;meaningfully&quot; higher than expectations for ...</p><p><a href= alt=Morgan Stanley Bullish On Rising App Store Revenue, Raises Apple Price Target>Full story available on</a></p> AAPL Analyst Color App Store Apps Katy Huberty Morgan Stanley Sensor Tower Price Target Reiteration Analyst Ratings Tech AAPL US0378331005 Analyst Color Price Target Reiteration Analyst Ratings Tech Benzinga Wed, 03 Jun 2020 15:00:13 +0000 Jayson Derrick 16168978 at Zoom Initially Slips Despite Strong Earnings, Then Reverses Course In Pre-Market Trading <p>This elevator ride keeps zooming higher, almost like the market is scrambling to get back to where it was before the crisis began. We&rsquo;re up more than 40% from the late-March lows, and stocks have a firm tone again this morning as reopening optimism continues.&nbsp;</p> <p>Remember there&rsquo;s no reason to go &ldquo;all in&rdquo; at times like these. Enthusiasm is definitely high right now, and the market has obviously come a long way. On the other hand, things are really rough around the U.S. economy and a lot of people have lost their livelihoods. This is a very tough situation and there&rsquo;s no guarantee the market won&rsquo;t make another move lower at some point. Jobs data due tomorrow and Friday are bound to be ugly (see more below).</p> <p>The general consensus seems to be that people think the economy will get back to normal as COVID-19 looks to be somewhat under control for now. Having some of the stores in major cities destroyed by civil unrest could slow that somewhat, but people are thinking cities will rebuild.</p> <p>Markets in Europe and Asia rose in the early going today, and European stocks are up nearly 30% from their March lows. So the rally isn&rsquo;t just here.</p> <p>Volatility is pulling back, with the CBOE Volatility Index (VIX) now starting to flirt with 25. That&rsquo;s down from above 80 at the peak of the crisis.</p> <p>It wouldn&rsquo;t be surprising to see Financial stocks come strong out of the gate today as the 10-year yield climbed to 0.72% this morning. The safety of bonds is getting sold and rates are inching higher.</p> <h3>Midweek Data Watch</h3> <p>Two key numbers to consider watching as today&rsquo;s session moves along are April factory orders and the May ISM non-manufacturing index, both due soon after the opening bell.&nbsp;</p> <p>On Monday, manufacturing ISM moved up a bit from April, providing a little solace to people worried about the economy. Analyst consensus for non-manufacturing ISM stands at 45%, which would be up from 41.8% in April, according to research firm;</p> <p>Analysts look for factory orders to have declined 13% in April vs. 10.3% in March, but this will likely be dismissed as a backward-looking data point.</p> <p>A private payrolls number out this morning showed job losses continued in May but at a much slower pace than in April. It also was far better than analysts had expected, but still showed major losses in the manufacturing sector. That could be a category to consider watching in the government&rsquo;s report Friday for any signs of improving economic conditions.&nbsp;</p> <p>The payrolls report this Friday is almost certainly going to be hard to digest, but it may not hold as much weight as usual because people know it&rsquo;s going to be a disaster. Wall Street&rsquo;s consensus is for job losses of 8.5 million in May, according to research firm That would be an improvement from 20.5 million jobs shed in April, though it&rsquo;s still horrible to imagine the pain and suffering of so many represented by that one number.&nbsp;</p> <p>It&rsquo;s important to keep an eye on the weekly initial jobless claims data out tomorrow ahead of the payrolls report to get a better sense of whether the needle is moving back in the right direction as the economy reopens. The consensus is for new initial claims to jump another 1.8 million in tomorrow&rsquo;s report, down from 2.1 million the previous week, says.&nbsp;</p> <p>Turning to earnings for a moment, it was a nice looking quarter that <strong>Zoom Video Communications Inc</strong> (NASDAQ: <a class="ticker" href="">ZM</a>) reported after the close yesterday. They beat Wall Street&rsquo;s expectations and raised guidance. So what happened? The stock initially fell in after-hours trading, though it did engineer a slight comeback ahead of the opening bell.</p> <p>The takeaway behind the initial weakness could be that ZM shares have come a long way very quickly (tripling so far ...</p><p><a href= alt=Zoom Initially Slips Despite Strong Earnings, Then Reverses Course In Pre-Market Trading>Full story available on</a></p> AAPL AMZN BA DAL Earnings GS MS MSFT News TD Ameritrade UAL WFC ZM Economics Markets Tech General AAPL US0378331005 AMZN US0231351067 MSFT US5949181045 BA US0970231058 DAL US2473617023 GS US38141G1040 MS US6174464486 WFC US9497461015 UAL US9100471096 ZM News Earnings Economics Markets Tech General Benzinga Wed, 03 Jun 2020 14:00:45 +0000 JJ Kinahan 16169458 at IMNA Announces New Appointment to Its Board of Directors <p>IMNA Solutions announced today that it has appointed Russ Yelton, President/CEO of Yelton and Associates and Chairman of The Board of Trustees of Arizona Healthcare Impact Foundation to its board of directors.</p> <p>Tempe, AZ, June 03, 2020 --(<a rel="nofollow" href="" rel="nofollow"></a>)-- The company&#8217;s board consists of five inspirational leaders dedicated to the mission of improving personalized health care. IMNA developed a comprehensive platform that is designed to support the everyday work of care teams and clinical investigators. IMNA uses proprietary algorithm and BI modules to provide safe, efficient and meaningful patient monitoring. IMNA harnesses the power of data analytics to provide actionable insights and help care teams identify and predict at risk patients in need of immediate care based on patient-reported data and patient generated data. IMNA&#180;s modular platform structure enables seamless connection to existing clinical workflows.</p> <p>&#8220;We are pleased to welcome Russ as new independent director to the IMNA&#8217;s board. I&#8217;m grateful Russ agreed to join our acting board members and push us forward ...</p><p><a href= alt=IMNA Announces New Appointment to Its Board of Directors>Full story available on</a></p> business News Entrepreneurship Health Care Tech Press Releases Wed, 03 Jun 2020 13:31:28 +0000 16169134 at Google Takes Down 'Remove China Apps' With 5M Downloads <p><strong>Alphabet Inc.</strong> (NASDAQ: <a class="ticker" href="">GOOGL</a>) (NASDAQ: <a class="ticker" href="">GOOG</a>) on Tuesday took down an app from Play Store that assisted users in finding and deleting which apps on their devices were developed by China-based companies.</p> <h3>What Happened</h3> <p>&quot;Remove China Apps&quot; had amassed more than 5 million users since late May, according to TechCrunch, which first <a href="">reported</a> the news.</p> <p>An Indian developer called &quot;OneTouch AppLabs&quot; had launched the app at the backdrop of rising tensions between India and China over a shared ...</p><p><a href= alt=Google Takes Down &#039;Remove China Apps&#039; With 5M Downloads>Full story available on</a></p> China GOOG GOOGL Google Apps News techcrunch Global Tech Media GOOG US38259P7069 GOOGL US38259P5089 News Global Tech Media Benzinga Wed, 03 Jun 2020 13:02:48 +0000 Neer Varshney 16166814 at