AT&T drops outlook, Texas Instruments confuses analysts, Minerd sees Bitcoin at $ 15,000



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Jared Blikre of Yahoo Finance reports on today’s trend tickers.

Video transcript

KRISTIN MYERS: But I want to move on to Yahoo Finance’s Jared Blikre, who’s at home today, not in the studios, but will still be able to break down all of today’s trending tickers. So Jared, let’s start with AT&T. What is going on with them?

JARED BLIKRE: [INAUDIBLE] it’s all about subscribers. We know they’re spending a lot of money to speed up 5G and buy all that high speed. And guess what? They have a lot of things on their balance sheet. And some people would call it some kind of hot mess. They’re trying to part with some of their assets, partnering with – for DirecTV so it’s not on their balance sheet, trying to part with Warner Media, which has HBO, HBO Max, with Discovery.

But let me read some analyst comments here. We noted it online with a price target of $ 32, saying AT&T saw strong growth in mobile subscribers, even as Verizon, our parent company, and T-Mobile stepped up their mobile subscribers. promotion and loyalty. So there was– AT&T had this amazing free promotion, which Verizon later introduced. I believe they just finished it. So a lot of money is spent there. They – I believe they said they were evaluating it online with a target price of 32.

But I also have a New Street note. And they say it’s still difficult to analyze the market’s reaction to such a tangle of companies, recommending focusing on the wireless business, which has performed well. They rate this as a buy with a target price of 37. This is a chart from the start of the year. Stock really hasn’t done much in the last, well, year to date, or a year or two years, or five years or 20 years. Well you see the picture. We’ll have to see what happens next, guys.

ALEXIS CHRISTOFOROUS: It’s great to see a long-term picture just like that because of that graph, Jared. You want to go to Texas Instruments because they had no more income. I guess the outlook disappointed. And that pushes at least one company to downgrade the stock. What can you tell us?

JARED BLIKRE: Yep, that was pretty confusing because they beat other key metrics. And then they didn’t give a very strong perspective. And the street is perplexed. There was no explanation for the call. So let me bring you here Texas Instruments. You can see that over the last 20 years or so – I’ve got that time frame going up – fine, but it’s down 4% today. So let me recall this to a year today.

And I’ll give you some analyst comments. Bloomberg Intelligence says conservatism in Texas Instruments’ unrelated coin constraints may have lowered TI’s guidance for the third quarter below seasonal norms. But here’s something from Raymond James. They rated it as an outperforming price target of 230 to – they raised it to 230 from 220. But they also say the report was confusing as revenues were significantly higher than expected, but it did drive revenues to. flat without too much explanation for careful directions.

Given how hard Texas Instruments has beaten its outlook over the past few quarters, we now consider the forecast to be meaningless. The company is likely suffering from a lack of confidence at the macro level despite what clearly continues to be tight supply conditions not only to both TI, but also to the semi industry in general. I just want to end by adding that Brian Sozzi was saying this morning that he was on the phone last night. It lasted seven minutes in all. He didn’t answer any questions and he thought it was a waste of time. Let me tell you guys. I know Brian Sozzi. Don’t waste his time.

KRISTIN MYERS: Alright, Jared, now let’s take a look at cryptocurrency. It wouldn’t be a conversation between you and me if we didn’t mention one of the cryptos at some point. I know Bitcoin is rebounding slightly. Tell us about what we’re seeing in cryptos right now.

JARED BLIKRE: Yeah, I’m almost getting a little excited. A number of events in the past 22 hours. And you can see Bitcoin – let me make a percentage change. Bitcoin slightly up. And I’m going to pull out a graphic here and then add some comments because we had an interesting mind meeting last night with Cathie Wood, Elon Musk and also @Jack. And it was interesting. I had good comments from Elon. He said SpaceX owns Bitcoin, hasn’t sold any. And he also said that I could pump, but not empty. And I would like to see Bitcoin succeed.

But we also learned this morning that JP Morgan is giving its wealth management clients access to crypto funds. And these are some of the GBTC Grayscale Investment Trusts that most people are familiar with. But these products are only available to accredited investors, which means you need to have enough equity or income. And it still is, there is still nothing for the average investor.

I also want to add that Guggenheim’s Scott Minerd sees Bitcoin going down to 15,000. Personally, I don’t. I want to pull the graph from the last month. It could, by the way, if we got past my magic level of 30,000 or actually 29.5 now. But we are peaking above that trendline. It’s barely bullish that I can get out of it. I’m not going to get mad until I see 35,000 here.

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