AI won't have 'huge' effect on Big Tech earnings: Strategist [Yahoo! Finance]
Synovus Financial Corp. (SNV)
Last synovus financial corp. earnings: 4/24 06:30 am
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Source: Yahoo! Finance
Microsoft ( MSFT ). Synovus Trust Senior Portfolio Manager Dan Morgan and Creative Strategies CEO and Principal Strategist Ben Bajarin joined Market Domination to discuss the potential impact of artificial intelligence on Big Tech earnings. Bajarin highlights two main concerns: "Who's getting the most beneficiary lift from AI stocks?" and "Do we have outsized expectations of AI growth?" However, he believes tech earnings will see strong growth due to AI infrastructure investments. Bajarin expresses worry about potential volatility stemming from "the bubble-ish cycle of AI." He also notes that costs associated with AI innovation could be a factor affecting earnings. Morgan emphasizes that if investors look beyond the AI hype, Big Tech is "looking at very strong growth" across the core business models. While companies like AMD ( AMD ) and Nvidia ( NVDA ) do have substantial profit growth fueled by AI , Morgan notes that for earnings from names like Microsoft and Meta there won't be
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SNV
News
- Synovus Financial Corp. (NYSE: SNV) had its "equal weight" rating re-affirmed by analysts at Morgan Stanley. They now have a $37.00 price target on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Truist Financial Co. from $45.00 to $39.00. They now have a "buy" rating on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Royal Bank of Canada from $44.00 to $41.00. They now have an "outperform" rating on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Piper Sandler from $46.00 to $42.00. They now have an "overweight" rating on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at DA Davidson from $45.00 to $43.00. They now have a "buy" rating on the stock.MarketBeat
SNV
Earnings
- 4/17/24 - Miss
SNV
Sec Filings
- 5/2/24 - Form 10-Q
- 4/26/24 - Form 8-K
- 4/25/24 - Form 4
- SNV's page on the SEC website