Technical Analysis – 25 July 2023

Shares closed above the 5dEMA with constructive volume. The 50dEMA is about to cross the 200dEMA.
Both MACD and RSI are constructive.
Long – Entry 78.0, Target 85.0, Stop 74.5

Shares closed above the 200dEMA with a surge in volume. The 5dEMA just crossed the 200dEMA.
MACD is about to turn positive, RSI is turning constructive.
Long – Entry 0.91 Target 0.97, Stop 0.88

Shares closed above the 50dEMA with constructive volume. 5dEMA just crossed 20dEMA and is about to cross the 50dEMA.
MACD is positive, RSI is constructive.
Long – Entry 8.8, Target 9.8, Stop 8.3

NXP Semiconductors N.V. (NXPI)

2Q23 Revenue: $3.3B, -0.3% YoY, beat estimates by $90M
2Q23 Non-GAAP EPS: $3.43, beat estimates by $0.15
3Q23 Guidance: Revenue expected of $3.3B to $3.5B, and Non-GAAP EPS of $3.39 to $3.82.
Comment: NXP Semiconductors, a major chip supplier to the automotive industry, reported better-than-expected Q2 results surpassing analysts’ estimates. Automotive revenue climbed 9% to $1.87B YoY in Q2. The company provided an optimistic outlook for the current quarter. NXP’s strong performance in the automotive, core-industrial, and communications infrastructure businesses has given confidence that it is successfully navigating through the cyclical downturn in consumer-exposed sectors. Furthermore, the increasing demand for smarter vehicles is driving the need for more semiconductor chips in the automotive industry, a trend expected to fuel sustained semiconductor demand across various industries embracing new technologies. 3Q23 recommended trading range: $210 to $230. PositiveOutlook.

恩智浦 (NXPI)

23财年第二季营收：33.0亿美元, 同比跌幅0.3%，超预期9,000万美元
23财年第二季Non-GAAP每股盈利：3.43美元，超预期0.15美元
23财年指引：预计营收为33亿至35亿美元，Non-每股收益为3.39至3.82美元。
短评：汽车行业主要芯片供应商恩智浦半导体公布第二季度业绩好于预期，超过分析师预期。第二季度汽车业务收入同比增长9%，至18.7亿美元。该公司对当前季度的前景持乐观态度。恩智浦在汽车、核心工业和通信基础设施业务方面的强劲表现，让投资者相信它正在成功地度过消费相关行业的周期性低迷。此外，对智能汽车日益增长的需求正在推动汽车行业对更多半导体芯片的需求，这一趋势预计将推动采用新技术的各个行业对半导体的持续需求。第三季度建议交易区间：210美元至230美元。积极前景。

Whirlpool Corp. (WHR)

2Q23 Revenue: $4.79B, -6.1% YoY, miss estimates by $40M
2Q23 Non-GAAP EPS: $4.21, beat estimates by $0.46
FY23 Guidance: Full-year sales of approximately $19.4B vs. $19.2B consensus and GAAP earnings per diluted share of $16.00 to $18.00 vs. the consensus mark of $15.99. Cash provided by operating activities of approximately $1.4B is anticipated and free cash flow of approximately $800M.
Comment: Whirlpool Corp reported a decline in quarterly profit due to persistent inflation affecting consumer spending and weakening demand for its appliances. Sales fell by 6% to $4.79B as promotions returned to pre-pandemic levels. However, Whirlpool’s portfolio transformation toward a higher-growth, higher-margin business is progressing well, and the company sees potential in the housing market rebound. While challenges persist due to inflation and consumer behavior, Whirlpool maintains its full-year guidance for sales and profit. Furthermore, with interest rates expected to decline in the near future and US consumer confidence rising, may encourage existing and new homeowners to invest in new appliances, bolstering sales of the appliance industry. 3Q23 recommended trading range: $145 to $165. Positive Outlook.

惠而浦 (WHR)

23财年第二季营收：47.9亿美元, 同比跌幅6.1%，逊预期4,000万美元
23财年第二季Non-GAAP每股盈利：4.21美元，超预期0.46美元
23财年第三季度指引：全年销售额约为194亿美元，而市场预期为192亿美元，GAAP摊薄每股收益为16.00至18.00美元，而市场预期为15.99美元。预计经营活动提供的现金约为14亿美元，自由现金流约为8亿美元。
短评：惠而浦公司公布季度利润下滑，因持续通胀影响消费者支出，且对其家电的需求减弱。由于促销活动恢复到疫情大流行前的水平，销售额下降6%至47.9亿美元。然而，惠而浦向高增长、高利润业务的投资组合转型进展顺利，该公司看到了房地产市场反弹的潜力。虽然通货膨胀和消费者行为带来的挑战依然存在，但惠而浦维持其全年销售和利润指导。此外，由于利率预计将在不久的将来下降，美国消费者信心上升，可能会鼓励现有和新房主投资购买新家电，从而提振家电行业的销售。第三季度建议交易区间：145美元至165美元。积极前景。

Logitech International S.A. (LOGI)

1Q24 Revenue: $974M, -16.0% YoY, beat estimates by $60M
1Q24 Non-GAAP EPS: $0.65, beat estimates by $0.19
1H24 Guidance: Raised its outlook for 1H24. Revenue for 1H24 between $1.875B to $1.975B, Operating Income between $180M to $220M. FY24 revenue between $3.8B to $4.0B, operating income between $400M to $500M.
Comment: Although the company raised its sales outlook for FY2024, it still expects revenue and operating income to decline YoY due to the big jump in sales the prior year amidst the COVID-19 pandemic as people equipped their home offices with the latest keyboards and peripherals. Demand for Logitech’s product is likely to fall as more consumers return to offices or adopt a hybrid working environment. The high-interest rate environment also makes it more costly for consumers to purchase computer accessories. However, U.S. consumer sentiments jumped to a high since September 2021, indicating that demand from consumers is rebounding as they expect the inflation rate to slow down. 3Q23 recommended trading range: $57 to $67. Neutral Outlook.

罗技 (LOGI)

24财年第一季营收：9.74亿美元, 同比跌幅-16.0%，超预期6,000万美元
24财年第一季Non-GAAP每股盈利：0.65美元，超预期0.19美元
24财年上半年指引：上调24财年上半年前景。上半年营收预期在18.75亿美元至19.75亿美元之间，营业收入在1.8亿美元至2.2亿美元之间。全年营收在38亿至40亿美元之间，运营收入在4亿至5亿美元之间。
短评：尽管该公司上调了2024财年的销售预期，但由于去年在COVID-19大流行期间人们为家庭办公室配备了最新的键盘和外围设备导致销售额大幅增长，因此公司预计营收和运营收入将同比下降。随着越来越多的消费者重返办公室或采用混合工作环境，市场对罗技产品的需求可能会下降。高利率环境也使得消费者购买电脑配件的成本更高。但是，美国消费者信心指数上升到自2021年9月以来的最高水平，表明消费者的需求正在反弹，因为他们预计通货膨胀率将放缓。第三季度建议交易区间：57美元至67美元。中性前景。