Technology Roundup – Daimler AG and Infosys inks strategic partnership for a IT infrastructure transformation, Qualcomm gets Street-high target with bullish Baird start on 5G market position

科技精选——戴姆勒和Infosys达成战略合作,分析师看涨高通 戴姆勒和Infosys达成战略合作
Published on: December 22, 2020
Author: Amy Liu

Daimler AG and Infosys inks strategic partnership for a IT infrastructure transformation

Software major Infosys (NYSE:INFY) has won a multi-year deal from German automotive major Daimler (OTCPK:DMLRY) to drive hybrid-cloud powered innovation and IT infrastructure transformation.

As a part of this partnership, automotive IT infrastructure experts based out of Germany, wider Europe, the U.S. and the APAC region will transition from Daimler AG to Infosys.

The collaboration will allow Daimler to strengthen its IT capabilities, and Infosys, its automotive expertise.

In addition, transfer will enable INFY to bolster and grow its automotive business, while offering Daimler employees strong prospects for long-term career growth and development.

Qualcomm gets Street-high target with bullish Baird start on 5G market position

Saying the company is at “the center of the unfolding 5G secular cycle,” Baird starts Qualcomm (NASDAQ:QCOM) with an Outperform rating and Street-high price target of $200.

Analyst Tristan Gerra says Huawei’s “dynamics” will benefit QCOM’s market share in China in 2021.

In the long-term view, Gerra thinks Qualcomm will leverage its tech for AI applications in the auto and consumer sectors.

Qualcomm shares are up 0.2% AH to $146.66. The stock has a Bullish average Wall Street analysts rating with a $158.73 price target.

Tesla shares down 8.5% since S&P inclusion

Tesla (TSLA, -2.2%) is approaching correction territory, off 8.5% from its all-time high of $695 hit on Friday.

But the stock had rallied 70% to the high from the November 16 announcement of its inclusion in the S&P 500.

Tesla is facing some selling pressure today after Apple’s announcement that it plans to move forward with self-driving car technology.

The move of the last two days has brought the stock’s relative strength index into the 60s, down from overbought territory.

Shares are well above the 50-, 100- and 200-day simple moving averages.

“Tesla’s growth hopes for 2021 come at a time where the company doesn’t have the major first mover advantage,” Bill Mauer writes on Seeking Alpha today. “Competitors in Europe and China have already started deliveries of their Model Y challengers, unlike Tesla’s previous vehicles that had months to years before others rushed in. Shares of the company haven’t gotten off to a good start during their in the S&P 500, but the valuation remains sky high as investors expect tremendous growth.”

TSMC receives Taiwan regulator’s permission for $3.5B Arizona plant investment

Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) has received regulatory permission from Taiwan to invest $3.5B in its first u.S. facility.

The chip plant in Arizona will start 5nm production in H1 2024.

Source: Taiwan’s Investment Commission via Bloomberg.

News of TSMC’s Arizona plant first broke in May following talks with the Trump administration, which expressed concerns about the U.S. reliance on Taiwan, China, and South Korea for chips.

Last month, TSMC’s board approved the $3.5B Arizona capital investment that will help set up a subsidiary in the state. The board also approved $15.1B of capital spending to increase capacity for leading-edge processes, including 5nm and 7nm processes.

Google, Facebook teamed up against antitrust action – WSJ

Facebook (NASDAQ:FB) and Google (GOOG, GOOGL) agreed to “cooperate and assist one another” if they ever faced an antitrust investigation into their pact to work together in online advertising.

That’s according to an unredacted version of a draft lawsuit – seen by the WSJ – that was filed last week by ten Republican attorneys general, led by Texas (the suit, as filed, cites internal company documents that were heavily redacted).

The AGs allege that the two tech giants cut a deal in September 2018 in which Facebook agreed not to compete with Google’s online advertising tools in return for special treatment when it used them.

The final version of the lawsuit didn’t make public details about the value of the agreement, but the draft states that starting in the deal’s fourth year, Facebook was locked into spending a minimum of $500M annually in Google-run ad auctions. Facebook COO Sheryl Sandberg also signed the deal with Google and told CEO Mark Zuckerberg and other executives: “This is a big deal strategically.”

The states’ “claims are inaccurate. We don’t manipulate the auction,” a Google spokesperson responded, adding that the deal wasn’t secret and that Facebook participates in other ad auctions. “There’s nothing exclusive about [Facebook’s] involvement and they don’t receive data that is not similarly made available to other buyers.” Facebook has also disputed the allegations, saying its ad bidding arrangements promote choice and create clear benefits for advertisers, publishers and small businesses.

In addition to the suit filed in Texas, Google was hit last week in a separate antitrust lawsuit joined by 38 attorneys general, which alleged that it maintained monopoly power over the internet search market, as well as an DOJ suit filed in October.

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