Exhibit 99.02 CADENCE REPORTS FIRST QUARTER 2024 CADENCE DESIGN SYSTEMS, INC. CFO COMMENTARY Q1 2024 KEY Key Takeaways Q2 2024 Outlook METRICS • Record Q1 bookings and record Q1 • Revenue : $1.03 billion - $1.05 billion backlog of approximately $6.0 • Revenue $1.009 billion • GAAP operating margin: 26.5% - 27.5% billion • Non-GAAP operating margin: 38.5% - 39.5% • GAAP operating margin 25% • Raising 2024 revenue outlook • GAAP EPS: $0.73 - $0.77 • Non-GAAP operating margin • The pending acquisition of BETA ...

Cadence Design Systems (CDNS) has been beaten down lately with too much selling pressure. While the stock has lost 13.2% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscill ...

Cadence Design Systems (CDNS) unveiled the latest Palladium Z3 Emulation and Protium X3 FPGA Prototyping systems. This is an advanced digital twin platform that is aimed at addressing the growing complexity of system and semiconductor design.These new systems will be utilized in automotive, hyperscale, networking, and mobile chip industries. The Palladium and Protium systems provide high throughput pre-silicon hardware debug and software validation. These systems are an integral part of the Cadence Verifica ...

Industry Overview - The technology sector experienced growth in Q1 2024, driven by strong adoption of AI and machine learning, despite persistent inflation delaying potential rate cuts by the Federal Reserve [1] - Global macroeconomic challenges, including conflicts in the Middle East and between Russia and Ukraine, negatively impacted the sector's growth trajectory [1] - Escalating Sino-US tensions and US restrictions on high-tech exports to China, particularly advanced AI chips, have hurt chip providers [1] - Beijing's strategy to phase out foreign chips in critical industries like telecom is expected to negatively impact semiconductor giants such as Intel and AMD [1] Sector Drivers - Ongoing digitalization, including rapid adoption of cloud computing, 5G, IoT, wearables, AR/VR headsets, drones, and blockchain, is benefiting the technology sector [2] - Increasing demand for AI is driving the need for data center capacity expansion, with major cloud computing providers like Amazon, Alphabet, Microsoft, and Meta Platforms having multi-year investment plans [2] - The rise of generative AI has attracted investments, boosting demand for chips, particularly GPUs, benefiting semiconductor companies [2] Market Performance - Semiconductor sales in February 2024 were $46.2 billion, up 16.3% year-over-year, while January sales were $47.6 billion, up 15.2% year-over-year [3] - The PC segment saw growth in Q1 2024, with 59.8 million PCs shipped, a 1.5% increase from the previous year [3] - Lenovo and HP experienced growth of 7.8% and 0.2%, respectively, while Dell Technologies saw a 2.2% decline [3] Earnings Focus - Several technology companies are set to report earnings in the coming weeks, with a focus on stocks that have a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) and a positive Earnings ESP [4] - Earnings ESP is a proprietary methodology that identifies stocks likely to surprise positively in their next earnings announcement, based on the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate [4] - Stocks with this combination have a 70% chance of a positive earnings surprise [5] Top Stock Picks - Vertiv (VRT) has an Earnings ESP of +1.24% and a Zacks Rank of 1, with a consensus earnings estimate of 37 cents per share for Q1 2024 [6][7] - Meta Platforms (META) has an Earnings ESP of +3.26% and a Zacks Rank of 2, with a consensus earnings estimate of $4.31 per share for Q1 2024 [7] - Cadence Design Systems (CDNS) has an Earnings ESP of +0.22% and a Zacks Rank of 2, with a steady consensus earnings estimate of $1.13 per share for Q1 2024 [7] - Itron (ITRI) has an Earnings ESP of +5.88% and a Zacks Rank of 2, with a steady consensus earnings estimate of 85 cents per share for Q1 2024 [7][8] - Silicon Motion Technology (SIMO) has an Earnings ESP of +5.96% and a Zacks Rank of 2, with a consensus earnings estimate of 58 cents per share for Q1 2024 [8]

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Cadence Design Systems (CDNS) .Cadence currently has an average b ...

Investors are always looking for stocks that are poised to beat at earnings season and Cadence Design Systems, Inc. (CDNS) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Cadence is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pret ...

Cadence Design Systems (CDNS) is scheduled to release first-quarter 2024 results on Apr 22.For the first quarter, Cadence expects total revenues in the range of $990 million-$1.01 billion. The Zacks Consensus Estimate is currently pegged at $1.01 billion, suggesting a decline of 0.8% from a year ago.Management projects non-GAAP earnings per share (EPS) in the range of $1.10-$1.14. The Zacks Consensus Estimate is pegged at $1.13, indicating a decline of 12.4% from the prior-year quarter’s reported figure.The ...

Cadence Design Systems (CDNS) ended the recent trading session at $310.10, demonstrating a +1.81% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.74%. Meanwhile, the Dow experienced a drop of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.68%.Shares of the maker of hardware and software products for validating chip designs witnessed a loss of 0.53% over the previous month, trailing the performance of the Computer and Technology sector with its ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Cadence Design Systems (CDNS) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Cadence currently has an ave ...

Economic Overview - The US economy shows a promising growth trajectory, with personal spending in February exceeding economist predictions and consumer sentiment at its highest in months [1] - Federal Reserve Chair Jerome Powell expresses optimism about the economy's ability to handle potential challenges, allowing policymakers to make informed decisions [1] - The AI industry is projected to grow significantly, with a market size expected to reach $1.3 trillion by 2032 [1] SoundHound AI (SOUN) - SoundHound AI, a voice and speech recognition company, experienced a market cap increase from $520 million in 2023 to $1.82 billion in 2024, a rise of 247.81% [2] - The company reported revenue of $45.9 million, reflecting a substantial year-over-year growth of 47.36% [2] - SoundHound's gross profit margin stands at 75.35%, significantly higher than the sector median of 48.66% [2] - A recent partnership with Nvidia for on-chip voice AI enhances SoundHound's product maturity and reliability [2] Microsoft (MSFT) - Microsoft has achieved a market cap of $3.09 trillion, marking it as the largest technology company globally [3] - The company's valuation has increased by over 50% year-over-year in 2024 [3] - In Q4 2023, Microsoft reported revenue of $62.02 billion, a 17.6% increase year-over-year, with net income rising 33% to $21.9 billion [4] - Microsoft is focusing on AI competition through collaborations with industry leaders like Nvidia, which is expected to enhance its valuation [4] Cadence Design Systems (CDNS) - Cadence Design Systems is a leading electronic design automation provider, contributing 12% of the industry's total revenue [5] - The company reported revenues of $4.09 billion for the financial year of 2023, with net income growing by 22.64% [5] - Diluted EPS rose by 23.62% to $3.82, and the company reported a levered free cash flow margin of 27.27% [5] - Cadence's software is sought after by major companies like Apple and Meta for chip design solutions [6]