TMTB: SE looks good; LYFT/DASH ug at RBC; SMCI added to SP500; MU Mizuho/Alethia +ve; AAPL neg news; AMD Barc PT raise; AVGo RBLT bullish; JPM defends GOOGL; TSLA weak China #s; FUBO ug at Seaport

Good morning. MS TMT conference starts today and runs through Thursday (schedule here, courtesy of @lucknowcapital on X). We’ll be listening to some calls and will post any updates in the TMTB chat.

QQQs are flat, yields are ticking up slightly, China is dn 1%, and BTC is ramping +4% again. Let’s get to it…

SE +13% Results look good with better revs and e-comm EBTIDA and guide for SE adj EBITDA to turn positive in the 2nd half of the year.

“We expect Shopee’s full year GMV growth to be in high teens range and adj EBITDA to turn positive in the 2nd half of the year. Free Fire to grow double digits y/y for both use base and bookings.”

Call sounds good and mgmt is on the road with investors for the first time in 3 years today.

RESULTS: Q4
Revenue $3.62B, EST $3.5B
E-commerce revenue $2.77B, EST $2.41B
Digital entertainment revenue $510.8M, EST $553.1M
Digital Financial Services revenue $472.4M, EST $487.3M
Loss per share $0.19
ADJ EBITDA $126.7M, EST $88M
Digital Entertainment ADJ EBITDA $217.4M, EST $229.2M
E-commerce ADJ EBITDA loss $225.3M, EST loss $331.2M
Digital Financial Services ADJ EBITDA $148.5M, EST $167.1M

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LYFT +7%: RBC Upgrades to Buy with $23 PT