1. Negative divergence in MACD, RSI, and stochastics indicates a potential top and major reversal. 2. Mixed recent earnings with revenue growth and EPS reaching three-year lows. 3. Valuation seems excessive with a high P/S ratio relative to revenue growth and peers. 4. Both technical and fundamental setups are unappealing, suggesting a sell for Snowflake stock.
Recent #Rating Downgrade news in the semiconductor industry
1. Despite beating revenue estimates, Super Micro Computer faces significant regulatory concerns; 2. The company's auditor resigned, and it has previous SEC charges and potential delisting from Nasdaq; 3. The analyst downgrades the rating to Hold due to potential long-term risks.
1. Last year, I gave AT&T a buy rating due to its cheap valuation and earnings beat. The stock has since rallied 40%. 2. Today, AT&T is at 10 times earnings with no growth, no longer a 'deep value' play. 3. I am downgrading my AT&T rating to hold.
1. Tesla's Q2 automotive revenue missed estimates and expects lower vehicle volume growth in FY2024; 2. The company's total revenue exceeded expectations, mainly driven by a 100% YoY growth in energy storage revenue; 3. Despite Elon Musk's optimism on autonomous driving, the stock's high valuation and weak fundamentals suggest a 'strong sell' rating.