In today’s briefing:
- Qualcomm Q125. Firing On All Cylinders & An Ace Up Their Sleeve…
- Copper Tracker 10th Feb 2025: Comex Spreads Bullish, Commentary on China Improving
- Weekly Update (MRP, WDC, HON, LGFA)
Qualcomm Q125. Firing On All Cylinders & An Ace Up Their Sleeve…
- Q125 revenues of $11.7 billion, up 18% YoY, up 15% QoQ and marginally above the high end of the guided range. This represented the company’s highest ever quarterly revenue
- In December, Snapdragon X Series had more than 10% share of the greater than $800 Windows laptops in U.S. retail.
- A recent hire suggests Qualcomm has an ace up their sleeve and that they are poised to launch yet another diversification gambit
Copper Tracker 10th Feb 2025: Comex Spreads Bullish, Commentary on China Improving
- Copper prices closed above $9,000 per ton once more and are poised for short-term gains as the outlook on China’s economic recovery becomes more favorable.
- The COMEX spread has hit a 12-week high, nearly reaching $1,000 per ton, as traders expressed concerns about copper potentially being included in the Trump administration’s blanket levies.
- We favor Southern Copper (SCCO US) and Antofagasta PLC (ANTO LN) due to their greater copper exposure, higher ROCEs, and robust long-term expansion strategies.
Weekly Update (MRP, WDC, HON, LGFA)
- Honeywell International (HON) announced its plan to spin off its Advanced Materials business on October 8, 2024.
- Subsequently, on February 6, 2025, the company revealed its intention to separate into three independent entities by also spinning off its Aerospace and Automation divisions.
- Automation (49% of revenue): This segment will concentrate on developing advanced automation technologies.
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