The Weekly Brief (As of June 12)
- Qualcomm (QCOM) announced the acquisition of Alphawave Semi (AWE.L) for about $2.5 billion in an effort to boost the company’s AI development.
- Apple (AAPL) unveiled iOS 26 and a new AI redesign software at the company’s most recent annual developer conference to improve the user experience and make its products more intuitive.
- Sun Life (SLF) announced early renewal of normal course issuer bid (NCIB), which allows the company to repurchase up to 25,000,000 common shares, representing 4.4% of the total share outstanding as of June 2, 2025.
- RBC lowers Descartes (DSG) target price by US$4, to US$126, while keeping its outperforming rating unchanged, as DSG’s acquisition model is counter-cyclical, and capital deployed may increase in the near term.
- Dollarama (DOL) reported net sales and EPS of $1.52 billion and $0.98, respectively, for the first quarter of 2025, beating expectations on both top and bottom lines, while also reaffirming the annual same-store-sales growth of around 3%-4%.
*Analysts of 5i Research responsible for this report have a financial or other interest in AAPL. The i2i Fund does not have a financial or other interest in securities mentioned.
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Report Updates
We have posted report updates on Well Health Technologies (WELL) and Aritzia (ATZ). WELL is a practitioner-focused digital healthcare name in Canada, providing a comprehensive network of clinics supporting primary care, specialized care, and diagnostics services. ATZ is an apparel company that focuses on building a brand and lifestyle. One name has the potential for near-term headwinds but also reported solid operating results, while the management team at the other name believes the public market is currently undervaluing its shares.
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