Royal Caribbean’s Record Bookings; Nvidia and AI Hype; Manchester United Media Sales
In our weekly round-up of the top charts and market-moving analyst insights: automotive semiconductors are expected to drive sales growth at GlobalFoundries; On is estimated to double running shoe sales by 2025; NVIDIA’s AI hype is not convincing analysts to raise data center revenue estimates; Royal Caribbean Cruises is poised to operate at >100% occupancy; and media sales is expected to drive Manchester United’s revenue growth.
Auto Chips Expected to Drive Sales at GlobalFoundries According to Analysts
Automotive semiconductors are estimated to drive sales growth at GlobalFoundries (GFS) moving forward, according to Visible Alpha consensus. The chipmaker, which specializes in trailing-edge nodes suitable for automotive applications could be well-positioned to benefit from the rising demand for electric vehicles and advanced driver assistance systems (ADAS) which increase chip content per vehicle. Recently, GFS announced a long-term agreement with General Motors (GM) to supply chips manufactured at an advanced fab in New York and a non-binding strategic collaboration with Ford Motors (F).
On Running Shoes Estimated to Double Sales by 2025, According to Analysts
Analysts believe On (ONON_CH) will double running shoe sales by 2025, according to Visible Alpha consensus. The company recently reported >90% Y/Y sales growth in 4Q22 and issued better-than-expected guidance for FY23 sales & EBITDA margin. New products that leverage ONON’s patented cushioning technology were credited by analysts for driving the majority of growth last quarter.
NVIDIA’s Artificial Intelligence Hype Not Convincing Analysts to Raise Estimates
Despite the hype surrounding ChatGPT and the future of Artificial Intelligence (AI), analysts are not raising their estimates for NVIDIA’s (NVDA) data center revenue, according to Visible Alpha consensus. Since the release of ChatGPT, analysts have decreased their CY-2023 data center sales forecast by about 2.5% as many believe the AI opportunity has already been priced into models.
Analysts Expect Royal Caribbean Cruises to Operate at >100% Occupancy
Analysts believe Royal Caribbean Cruises (RCL) will operate at over 100% occupancy over the next few years, according to Visible Alpha consensus. The company recently reported record-breaking bookings after the winter holiday season with more customers opting to book more than the standard two people per cabin.
Manchester United’s Media Sales Will Drive Revenue Growth, Say Analysts
Analysts believe Manchester United (MANU) will see traditional media driving sales growth over the next few years as broadcasting rights are expected to appreciate and command higher rates in upcoming renewal cycles. The football club has reportedly been exploring strategic options and is in discussions with multiple parties.
