Azure Minerals Ltd (ASX: AZS)

This ASX mining share is exploding 39.54% at the time of writing to 30 cents per share.

Azure is an ASX lithium mining share and today the company has announced promising assay results.

As my Fool colleague James reported earlier, Azure has revealed further high-grade lithium assay results. They have come from the Andover Project’s pegmatite exploration program in Western Australia’s Pilbara.

The “very significant results” include the “highest lithium grade reported to date,” according to the managing director of Azure, Tony Rovira.

Auking Mining Ltd (ASX: AKN)

This mining share is also enjoying an impressive day on the ASX, up 21% to 12 cents per share.

The company has exited a trading halt that it requested on Monday pending a statement.

All was revealed this morning with Auking announcing it has acquired six mining projects in Tanzania. Four are uranium prospects and two are copper prospects.

Auking also announced a two-stage capital raising to fund the exploration of the six projects.

The first stage involves a completed $1.37 million raising. This comprises the issuance of 13.75 million new shares at 10 cents per share under an existing placement capacity.

The second stage is subject to shareholder approval. It involves approximately 20 million new shares, also at 10 cents per share, to raise another $2 million.

The company said the issue price represents a 17% premium to the ASX mining share’s 30-day volume-weighted average price.

Hawsons Iron Ltd (ASX: HIO)

This ASX mining share is mimicking its peer in also reaching 12 cents per share today, up 19%.

Today the company announced a “strategic review of the proposed Hawsons Iron Project’s development to examine options to scale production up in stages”.

Hawsons Iron managing director Bryan Granzien said the review would examine less expensive options.

This comes after the company announced on Monday that its bankable feasibility study had slowed. The study was analysing the preferred 20 million tonnes per annum (20 Mtpa) option.

Activity had slowed due to unexpected rises in infrastructure capital cost estimates, the company said.

The post 3 ASX mining shares going gangbusters today appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX lithium share is rocketing 30% on ‘very significant results’
• Why Adbri, Costa, Hawsons Iron, and Medibank shares are sinking today
• Why did the Hawsons Iron share price just nosedive 62%?
• 3 ASX mining shares rocketing higher on big news

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Corporate Travel Management Ltd (ASX: CTD)

According to a note out of Goldman Sachs, its analysts have initiated coverage on this corporate travel specialist’s shares with a buy rating and $20.20 price target. The broker highlights that Corporate Travel Management offers strong growth and margin accretion opportunities with improving scale and a consolidating market. The Corporate Travel Management share price is trading at $17.28 this afternoon.

Pilbara Minerals Ltd (ASX: PLS)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $5.70 price target on this lithium miner’s shares. This follows the company’s latest digital auction, which revealed another rise in prices for its spodumene. Macquarie was pleased with the results and is expecting more regular sales on the platform in the near future thanks to the ramp up of the Ngungaju project. The Pilbara Minerals share price is fetching $5.08 today.

Rio Tinto Limited (ASX: RIO)

Analysts at Morgans have retained their add rating and $108.00 price target on this mining giant’s shares. This follows the release of the company’s third quarter update. Although it was a touch disappointed with the update, it believes the market was already pricing in a softer performance. Overall, Morgans stated that the operational weak-points and guidance cuts are disappointing, but they are not material to Rio Tinto’s long-term fundamentals. The Rio Tinto share price is trading at $94.21 on Wednesday.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising
• Why is the Calix share price frozen on Wednesday? (Hint: it involves Pilbara Minerals)
• Why is the Pilbara Minerals share price storming 6% higher on Wednesday?
• 3 ASX 200 companies among the top 10 lithium producers in the world

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Corporate Travel Management Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been another positive day for the S&P/ASX 200 Index (ASX: XJO) so far this Wednesday. After yesterday’s strong gains, the ASX 200 has put on another 0.33% so far this session, which has lifted the index back above the 6,800 point mark.

But let’s dig a little deeper into these market moves and check out the shares currently at the top of the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Wednesday

Liontown Resources Limited (ASX: LTR)

ASX 200 lithium share Liontown is our first cab off the rank today. So far this Wednesday, a notable 13.77 million Liontown shares have been exchanged on the markets. We haven’t heard anything from the company itself.

So we can probably point to the share price performance of Liontown itself to explain this volume. We have seen some noteworthy gains with this company today. Currently, Liontown shares are up a healthy 2.24% at $1.82 a share. But just after lunchtime, Liontown rose as high as $1.80.

Pilbara Minerals Ltd (ASX: PLS)

Pilbara Minerals is next up. Another ASX 200 lithium share, Pilbara has seen a hefty 22.1 shares bought and sold so far on the markets today. Again, we haven’t gotten any news from the company.

However, Pilbara did announce its results from the latest BMX auction yesterday, which could be influencing volumes, as well as the company’s shares this Wednesday.

At present, the Pilbara share price has put on a pleasing 5.83% at $5.08. No doubt this outsized gain is also to thank for so many shares changing hands.

Core Lithium Ltd (ASX: CXO)

Finally this Wednesday we have yet another ASX 200 lithium stock in Core Lithium. During this session, we have seen an eye-catching 34.77 million Core Lithium shares trade hands as it currently stands.

Again, with no fresh news out from the company, it seems that share price gains are the most likely catalyst here. The company is up a whopping 8.63% so far today to $1.38 a share.

As my Fool colleague covered this afternoon, this means that Core Lithium has now gained more than 20% in the past week alone. No wonder so many shares are flying around.

The post Here are the 3 most heavily traded ASX 200 shares on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising
• Why did the Pointsbet share price surge 12% on Wednesday?
• Why is the Calix share price frozen on Wednesday? (Hint: it involves Pilbara Minerals)
• Why has the Core Lithium share price surged 20% so far this week?
• Why is the Pilbara Minerals share price storming 6% higher on Wednesday?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is on course to record another decent gain on Wednesday. In afternoon trade, the benchmark index is up 0.3% to 6,800.5 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is up 5% to $4.17. Investors have been buying this mineral exploration company’s shares following the release of a positive update on its Julimar project. The release notes that drilling to date supports the interpretation of the Gonneville intrusion (and Julimar mafic-ultramafic Complex) as having a rare chonolith-like geometry.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 9% to $1.39. This is despite there being no news out of the lithium miner today. However, with lithium prices reaching record highs in China this month and a rival reporting further strong prices from its digital auction this week, investors appear excited about Core Lithium’s outlook. Especially given the opening of its Finniss lithium mine this month.

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is up 3% to $17.28. This appears to have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has initiated coverage on the company’s shares with a buy rating and $20.20 price target. Goldman notes that “CTD offers strong growth and margin accretion opportunities with improving scale and a consolidating market.”

NIB Holdings Limited (ASX: NHF)

The NIB share price is up 1.5% to $6.84. Investors have been buying this private health insurer’s shares today after it was the subject of a bullish broker note out of Morgans. According to the note, the broker has upgraded its shares to an add rating with an $8.27 price target.

The post Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising appeared first on The Motley Fool Australia.

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More reading

• Why has the Core Lithium share price surged 20% so far this week?
• Why is the Chalice Mining share price up 10% and the best performer on the ASX 200 today?
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Corporate Travel Management Limited and NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) has had another strong day so far this Wednesday. During this trading session, the ASX 200 has gained a healthy 0.4% at the time of writing, putting it back above 6,800 points. But the Pointsbet Holdings Ltd (ASX: PBH) share price has performed even better.

Pointsbet shares closed at $2.22 each yesterday. But the gaming company opened at $2.23 this morning before rocketing as high as $2.50 a share, a 12.5% gain.

As it currently stands this afternoon, the Pointsbet share price has cooled somewhat from these illustrious heights. But the company is presently still up a robust 3.6% at $2.30 a share.

So what has kicked the Pointsbet share price so comprehensively higher today?

Why did the Pointsbet share price surge 12% this morning?

Well, we can’t be sure, unfortunately. We did get an update from Pointsbet today, released just before market open this morning. But this update only served to inform shareholders that the company is scheduled to hold its 2022 annual general meeting tomorrow. Hardly market-moving stuff, one would assume.

However, we can look at what is happening to some other ASX tech shares for more ideas. Pointsbet isn’t the only ASX tech share performing well today.

We’ve also seen shares like Altium Limited (ASX: ALU), HUB24 Ltd (ASX: HUB), Redbubble Ltd (ASX: RDB), and Brainchip Holdings Ltd (ASX: BRN) see big jumps in valuation as well. Many of these share prices, like Pointsbet’s, also spiked before calming down during the afternoon.

This could be a result of what happened to US tech giant Netflix Inc (NASDAQ: NFLX) shares overnight.

As my Fool colleague Catherine covered this afternoon, Netflix reported its quarterly earnings last night (our time). After some disappointing results earlier in the year, Netflix seemed to delight investors with its latest numbers.

For the third quarter of 2022, the company managed to add an additional 2.41 million net subscribers. It also announced revenues of US$7.93 billion, up 5.9% year on year.

These results saw the Netflix share price rise 14% in after-hours trading, boosting the futures market of the entire NASDAQ Index.

This seems to have given the entire ASX tech sector a shot in the arm today, which could explain the fortunes of the Pointsbet share price this Wednesday.

Whatever the true reason behind the success of the Pointsbet share price today, no doubt investors will be pleased with what they are seeing.

At the current Pointsbet share price, this ASX 200 gaming company has a market capitalisation of $678 million.

 

The post Why did the Pointsbet share price surge 12% on Wednesday? appeared first on The Motley Fool Australia.

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More reading

• What’s going on with Netflix and how is it impacting ASX 200 tech shares today?
• Why is the Novonix share price stuck on standby today?
• CBA shares: Buy, hold, or fold?
• Is it time for ‘cashing in some gains’ on Pilbara Minerals shares?
• 3 ASX 200 companies among the top 10 lithium producers in the world

Motley Fool contributor Sebastian Bowen has positions in Netflix. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Hub24 Ltd, Netflix, Pointsbet Holdings Ltd, and REDBUBBLE FPO. The Motley Fool Australia has positions in and has recommended Hub24 Ltd. The Motley Fool Australia has recommended Netflix and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Commonwealth Bank of Australia (ASX: CBA) share price has officially pushed past the monumental $100-mark for the first time since August.

All eyes have been on the S&P/ASX 200 Index (ASX: XJO) banking giant this week to see if it could surpass the milestone that it momentarily met on Tuesday.

The CBA share price is trading 0.47% higher at $100.25 at the time of writing.

Meanwhile, the ASX 200 has lifted 0.41% and the S&P/ASX 200 Financials Index (ASX: XFJ) is up 0.25%.

So, what could be in store for the CBA share price now that it has returned to triple digits? Let’s take a look.

Could the CBA share price push higher?

The CBA share price is in the green today and lifting to its highest point in two months.

And once again, it has surpassed the $100-mark. The stock hit triple digits for the first time ever in May 2021 before rocketing to an all-time high of $110.19 in November 2021.

Today, it remains around 10% off that record. But could CBA shares keep climbing to meet – or surpass –their previous high?

If you ask experts, they’d likely tell you not to get your hopes up.

Most are bearish on the CBA share price, with top broker Morgan Stanley tipping it to fall to $85.50, as per Livewire – a potential 14.7% tumble.

Though, not all are so sceptical. Credit Suisse expects it to lift to $102.80, my Fool colleague James reported late last month. The broker is also tipping the banking giant to up its dividends by 10% in financial year 2023.

The latest news likely bolstering hope for the biggest of the big four banks came from its far smaller peer, Bank of Queensland Limited (ASX: BOQ).

On releasing its full-year earnings last week the Queensland-based bank revealed its net interest margin (NIM) had lifted to 1.81% in the final quarter amid rising rates.

It’s therefore presumable that other ASX 200 banks have also seen their NIMs increase, thereby upping their profits.

The post CBA share price smashes through $100-mark for first time in 2 months. What’s next? appeared first on The Motley Fool Australia.

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More reading

• CBA shares: Buy, hold, or fold?
• Is the CBA share price a good value buy in October?
• Top broker says ‘we struggle to see CBA underperforming peers’. Here’s why
• Why are ASX 200 bank shares having such a top run on Thursday?
• Why investors were looking on the bright side for ASX 200 bank shares today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Calix Ltd (ASX: CXL) share price is frozen after the company requested a trading halt this morning.

The Australian environmental technology company has since announced a global licence agreement with one of the world’s largest building materials companies, Heidelberg Materials (FWB: HEI).

Calix is also launching a $60 million institutional equity raising. It will also run a share purchase plan (SPP) for ordinary ASX investors to raise up to another $20 million.

Calix will use the funds to accelerate the commercialisation of its technology for industrial decarbonisation.

This will include further work with Pilbara Minerals Ltd (ASX: PLS).

Licence the ‘first of its kind’

Calix said in a statement that the technology licence fee is a first-of-a-kind for the industry.

It comprises a royalty floor, a variable component linked to carbon price/value, and a royalty cap linked to costs versus alternative technologies.

As we’ve reported before, a bunch of Australian companies, including miners, have been trialling Calix technology to decarbonise their minerals.

The technology centres around a kiln developed by the Calix founder that can extract substantial amounts of carbon dioxide from metals and minerals. Additionally, Calix can adapt the kiln to work with various materials.

Calix has a 93% owned subsidiary, Leilac, that focuses on the decarbonisation of cement and lime. It’s Leilac that has signed the deal with Heidelberg Materials.

The licence applies to any Heidelberg Materials facility where the Leilac technology is installed.

Heidelberg Materials operates 149 cement plants across five continents.

Calix said:

Cement and lime are amongst the largest industrial contributors to climate change, accounting
for roughly 8% of global CO2 emissions.

The agreement with Heidelberg Materials is a key milestone in Calix’s commercialisation of the Leilac technology, and Calix’s strategy to develop great businesses that deliver positive global impact.

Why is Calix raising capital?

The capital raising will take the form of a fully underwritten institutional placement to raise $60 million. It will comprise the issuance of 13.2 million shares at an issue price of $4.55 per share.

The Calix share price is currently in the freezer at $5.12.

There will also be a non-underwritten SPP to raise up to an additional $20 million.

Calix said the placement and SPP will “accelerate commercialisation of the Calix technology platform and
enable rapid further technology development targeted at significant strategic market opportunities”.

The company elaborated further:

Specifically, proceeds from the Placement will be applied to accelerate commercialisation of Leilac’s cement and lime decarbonisation technology; construct a lithium salt demonstration processing plant in JV with Pilbara Minerals; and fund a FEED study for a ZESTY Green Iron demonstration plant.

Calix has released an investor presentation this morning.

Calix share price snapshot

The Calix share price is down 21.5% year to date.

Over five years, the company’s shares are up more than 700%.

The post Why is the Calix share price frozen on Wednesday? (Hint: it involves Pilbara Minerals) appeared first on The Motley Fool Australia.

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More reading

• Why is the Pilbara Minerals share price storming 6% higher on Wednesday?
• Is it time for ‘cashing in some gains’ on Pilbara Minerals shares?
• 3 ASX 200 companies among the top 10 lithium producers in the world
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• 3 ASX 200 lithium shares that turned a $10,000 investment into $500,000

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decent gain. At the time of writing, the benchmark index is up 0.4% to 6,807.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

GQG Partners Inc (ASX: GQG)

The GQG share price is down 2.5% to $1.39. This appears to have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has downgraded this fund manager’s shares to a neutral rating and slashed its price target by 19% to $1.55. Goldman notes that GQG’s strong franchise can’t escape difficult market conditions.

Megaport Ltd (ASX: MP1)

The Megaport share price is down 16% to $7.11. Investors have been selling this network as a service provider’s shares following the release of its quarterly update. Megaport reported a 9% increase in monthly recurring revenue to $11.6 million during the first quarter. This took its annualised recurring revenue to $139 million. Investors may have been expecting even stronger growth.

Melbana Energy Ltd (ASX: MAY)

The Melbana Energy share price is down 10% to 7.3 cents. This morning this oil and gas exploration company responded to a price query request from the Australian share market operator. Melbana Energy advised that it could not explain the recent jump in its share price. Though, it has suggested that it could have been driven by comments on internet boards.

St Barbara Ltd (ASX: SBM)

The St Barbara share price has continued its slide and is down a further 6% to 49.5 cents. Investors have been selling this gold miner’s shares this week following a disappointing first quarter update. St Barbara’s update revealed weaker than expected production and higher costs, which has led to its full year guidance being downgraded.

The post Why GQG, Megaport, Melbana Energy, and St Barbara shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why Adbri, Rio Tinto, St Barbara, and Whitehaven Coal shares are dropping today
• Why are shares in ASX 200 gold miner St Barbara crashing 22% today?
• Here are the top 10 ASX 200 shares today
• Morgans names 2 ASX dividend shares to buy right now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The Nasdaq Composite has plunged deep into bear market territory, dragged down by deteriorating investor sentiment in the face of high inflation and rising interest rates. In fact, the tech-heavy index is now 34% off its high, marking its steepest decline in the last decade.

On the bright side, that broad downturn has created a wealth of buying opportunities for patient investors. For instance, in spite of temporary macroeconomic headwinds, the future looks bright for Microsoft (NASDAQ: MSFT) and Arista Networks (NYSE: ANET), and both stocks are trading at discounted valuations compared to historical price-to-earnings multiples.

Microsoft: An arsenal of critical software and cloud services  

Microsoft breaks its operations into three segments, each packed with widely adopted products. The first is Productivity and Business Processes, at the heart of which is Microsoft 365, the most popular collection of enterprise applications on the planet. In addition to the well-known Office software suite, Microsoft 365 includes market-leading products like Defender and Azure Active Directory for cybersecurity, and Microsoft Teams for communications.

The second segment is Intelligent Cloud, which houses Microsoft SQL Server, the third-most-popular database. But cloud computing platform Microsoft Azure is the heart of this segment. Azure captured 21% market share in cloud infrastructure services in the second quarter, second only to Amazon Web Services. 

The final segment is More Personal Computing, which features Xbox hardware and content, the ubiquitous Windows operating system, and the Bing search engine. But the most exciting part of this segment is advertising. Last year, Microsoft acquired ad tech platform Xandr from AT&T, and Netflix recently selected Microsoft as the ad tech vendor that will power its soon-to-launch ad-supported streaming service.

Broadly speaking, Microsoft’s arsenal of critical software products and cloud services makes it resilient, and that advantage has helped the company churn out solid financial results in spite of the difficult economic environment. Over the past year, revenue rose 18% to $198 billion, while free cash flow ticked up 16% to $65 billion. But Microsoft still has room to expand, especially in cybersecurity, cloud computing, and digital advertising.

In fact, the cybersecurity market will grow 12% annually to reach $500 billion by 2030, while the cloud computing market will grow 16% annually to reach $1.5 trillion, according to Grand View Research. Meanwhile, online video advertising spend will increase 14% annually to reach $362 billion by 2027, according to Omdia. Netflix is expected to be a key player in that market, which bodes well for Microsoft.

Currently, Microsoft stock is 32% off its high, and shares trade at 23.7 times earnings, a bargain compared to its five-year average of 35.1 times earnings. That’s why investors may regret passing on this growth stock.  

Arista Networks: Technology that powers the cloud

Arista has become the gold standard in high-speed data center networking. Its portfolio includes switching and routing platforms, wireless access points, and adjacent software for network automation, monitoring, and security. Those technologies allow customers to deploy a seamless network across public clouds, private clouds, and enterprise campus environments.

Arista says its principal innovation is the Extensible Operating System (EOS), the uniquely programmable software that runs across every piece of its hardware. That programmability makes Arista’s networking platforms very flexible, allowing customers to easily integrate and deploy third-party applications. Additionally, by running a single version of EOS across every switch and router, Arista makes network management less complex and costly compared to vendors like Cisco, which requires customers to run different versions of multiple operating systems across its hardware.

In short, Arista’s networking platforms offer industry-leading speed and power efficiency at a lower total cost of ownership. Those selling points have helped it win more than 8,000 customers, including cloud computing giants like Microsoft and Meta Platforms. In turn, Arista has delivered solid financial results on a relatively consistent basis. Revenue climbed 33% to $3.5 billion over the past year, and earnings soared 41% to $3.24 per diluted share.

Looking ahead, Arista is well positioned to maintain that momentum. Data centers will need faster networks to support the ongoing adoption of cloud computing, the growing number of connected devices (e.g. the Internet of Things), and the development of data-intensive applications (e.g. artificial intelligence). That should drive demand for Arista’s networking products in the coming years. In fact, management says its addressable market will grow from $23 billion in 2021 to $35 billion by 2025.

Currently, Arista stock is down 27% from its high, and shares trade at 30.8 times earnings, a slight discount to its three-year average of 33.5 times earnings. That’s why this growth stock looks like a buy right now. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Nasdaq bear market: 2 magnificent US growth stocks you’ll regret not buying on the dip appeared first on The Motley Fool Australia.

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Trevor Jennewine has positions in Amazon and Arista Networks. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon, Arista Networks, Cisco Systems, Meta Platforms, Inc., Microsoft, and Netflix. The Motley Fool Australia has recommended Amazon, Arista Networks, Meta Platforms, Inc., and Netflix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Netflix Inc (NASDAQ: NFLX) share price is surging in after-hours trading after the streaming giant delivered better-than-expected quarterly results.

Netflix shares are currently lighting up 14% after hours after closing at US$240.86 overnight. 

Netflix has had a torrid run so far in 2022 as growth has slowed and subscriber numbers have ground to a halt. 

As it stands, Netflix shares have crumbled 60% this year to trade at levels not seen since 2018.

But Netflix’s fortunes could be turning. The company has reversed its subscriber losses in the most recent quarter thanks to some big programming wins. 

Netflix hits it out of the park in Q3 2022

For the third quarter of 2022, Netflix added 2.41 million net subscribers, well ahead of the company’s guidance of 1 million.

This was underpinned by some big hits across TV and film during the quarter, including the likes of Stranger Things, Monster: The Jeffrey Dahmer Story, The Gray Man, and Purple Hearts.

The fourth season of Stranger Things generated 1.35 billion hours viewed, making it Netflix’s biggest-ever season of an English series. 

Meanwhile, the Jeffrey Dahmer true crime limited series generated 824 million hours viewed in the first 28 days of its release. This makes it Netflix’s second-largest English series.

This helped the streaming giant to deliver third-quarter revenue of US$7.93 billion. That’s up 5.9% year on year and ahead of guidance of 5%.

Two major initiatives underway at Netflix are a crackdown on password sharing and a new, lower-priced, ad-supported subscription tier.

Coincidentally, this morning, I received an email from Netflix informing me of a new feature called ‘Profile Transfer’. The idea here is to make life easy for borrowers to transfer their Netflix profile to their own account, carrying across recommendations, viewing history, watchlists, and the like.

The company will also launch its budget-friendly, ad-supported subscription plan in 12 countries next month, including Australia.

For $6.99 per month – four dollars less than the cheapest plan currently on offer – users will be shown an average of four to five minutes of unskippable ads per hour of viewing.

What does this mean for ASX 200 tech shares?

Netflix’s better-than-expected results have boosted Nasdaq futures, which are up 1.5% according to Business Insider.

Combined with all three US benchmarks finishing in the green overnight, this has provided a positive lead for the S&P/ASX 200 Index (ASX: XJO) and ASX tech shares today.

At the time of writing, the ASX 200 has climbed 0.6% to 6,820 points.

Meanwhile, HUB24 Ltd (ASX: HUB) is currently the best-performing ASX 200 tech share. It’s jumped 3.5% to $26.09.

Other top risers include BrainChip Holdings Ltd (ASX: BRN) and Altium Limited (ASX: ALU). These ASX 200 tech shares are up 2.2% and 1.7%, respectively, at the time of writing.

The post What’s going on with Netflix and how is it impacting ASX 200 tech shares today? appeared first on The Motley Fool Australia.

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• Why Netflix stock was soaring today
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• Why Netflix was a US stock market star on Thursday 

Motley Fool contributor Cathryn Goh has positions in Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Hub24 Ltd, and Netflix. The Motley Fool Australia has positions in and has recommended Hub24 Ltd. The Motley Fool Australia has recommended Netflix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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