Mizuho raised the firm’s price target on Lumentum (LITE) to $325 from $290 and keeps an Outperform rating on the shares, arguing that Google’s (GOOGL) TPU ramps are positive for the former’s optical compute switch. After The Information reported last night that Meta (META) potentially could use Google TPUs, the firm also said a move to TPUs is positive for Broadcom (AVGO) and could be “a modest challenge” for GPU suppliers such as Nvidia (NVDA) and AMD (AMD). Micron (MU) continues to see HBM ramp and recent spot prices continue to be strong, potentially driving upside to February quarter guidance, added the analyst in the note on AI Tensor Processing Units.
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