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2021-10-17

nice

Amazon stock rose 1.5% in morning trading<blockquote>亚马逊股价早盘上涨1.5%</blockquote>

2021-08-24

good

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2021-11-13

good

Apple: The Bear Argument, And Why It's Wrong<blockquote>苹果：熊市论点及其错误的原因</blockquote>

2021-10-28

ok

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2021-10-04

nice

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2021-07-31

wow

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2021-04-04

let’s buy

2 Top Stocks You Can Buy and Hold for the Next Decade<blockquote>未来十年您可以购买并持有的2只顶级股票</blockquote>

2021-09-12

yes

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2021-07-14

opss

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2021-07-12

ofcoz

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13:52","market":"us","language":"en","title":"SoFi And Its Bulls Might Just Be Standing On The Cusp Of Something Big<blockquote>SoFi及其多头可能正站在大事的风口浪尖</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1108709960","media":"Seeking Alpha","summary":"Summary\n\nThe risk clouding one of SoFi's main catalysts for next year seems to have been removed.\n20","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>The risk clouding one of SoFi's main catalysts for next year seems to have been removed.</li>  <li>2022 stands to be a big year as the convergence of several factors stands to see underlying competitiveness and profitability improve.</li>  <li>If SoFi's plans come to fruition, the value creation in the years ahead will be significant.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95b4a7a135703546a6ddfa3c8d7629dd\" tg-width=\"1536\" tg-height=\"924\" width=\"100%\" height=\"auto\"><span>PM Images/DigitalVision via Getty Images</span></p><p><blockquote><ul><li>SoFi明年主要催化剂之一的风险似乎已经消除。</li><li>2022年将是重要的一年，因为多种因素的融合将导致潜在竞争力和盈利能力的提高。</li><li>如果SoFi的计划得以实现，未来几年的价值创造将是巨大的。</li></ul><p class=\"t-img-caption\"><span>PM Images/DigitalVision来自Getty Images</span></p></blockquote></p><p> SoFi's (SOFI) bulls know they have two major catalysts to look forward to next year; the banking charter and the end of the student loan moratorium. The latter saw a pause on federal student loan payments and temporarily set the loan interest rate to 0%. In my&nbsp;last SoFi article, I flagged the potential extension of this as a salient risk shareholders need to be aware of. Not anymore. The White House has now categorically&nbsp;ruled out an extension&nbsp;and confirmed that repayments will begin from the start of February. Albeit with some comments on a \"smooth transition\" to repayments which will likely soften revenue recognition in the initial months.</p><p><blockquote>SoFi(SOFI)的多头知道明年他们有两个主要催化剂值得期待；银行章程和学生贷款暂停期的结束。后者暂停了联邦学生贷款支付，并暂时将贷款利率设定为0%。在我的上一篇SoFi文章中，我将这种情况的潜在扩展标记为股东需要注意的一个突出风险。不再是了。白宫现在已经明确排除了延期的可能性，并确认还款将从2月初开始。尽管有人评论“平稳过渡”到还款，这可能会削弱最初几个月的收入确认。</blockquote></p><p> SoFi was founded in 2011 by four Stanford Graduate School of Business students who wanted to provide a more affordable option to classmates taking on expensive debt to fund their education. Hence, student loan refinancing remains a significant part of the overall revenue mix even as the company's business operations have since been developed to include other types of lending, financial services, and Galileo.</p><p><blockquote>SoFi于2011年由斯坦福大学商学院的四名学生创立，他们希望为背负昂贵债务来资助教育的同学提供更实惠的选择。因此，学生贷款再融资仍然是整体收入组合的重要组成部分，尽管该公司的业务运营已发展到包括其他类型的贷款、金融服务和伽利略。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60e52914b88f26796aa31722c0dd785b\" tg-width=\"640\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>SoFi Student Loan Refinancing Offer</span></p><p><blockquote><p class=\"t-img-caption\"><span>SoFi学生贷款再融资优惠</span></p></blockquote></p><p> The impact of the extension of the moratorium on fiscal 2021 revenue was pronounced. This saw the company forfeit $52 million in SLR volume on the back of the&nbsp;CARES Act extension. This business was doing over $2 billion of student loan volume a quarter before the pandemic hit. The student loan business has been at less than 50% as lenders took on a more laid back approach to paying back their student loans since the initial moratorium was enacted via an executive order in March 2020.</p><p><blockquote>延期延期对2021财年收入的影响是显而易见的。由于CARES Act延期，该公司损失了5200万美元的SLR销量。在疫情爆发前的一个季度，该公司的学生贷款额超过20亿美元。自2020年3月通过行政命令颁布最初的暂停令以来，贷款机构采取了更加悠闲的方式来偿还学生贷款，学生贷款业务的比例一直低于50%。</blockquote></p><p> Hence, and for the first time in almost two years, SoFi should have a significant tailwind in 2022 with SLR volumes picking up to aggregate with momentum in personal loan volume and its more competitive home loan product. The company expects its lending business to grow by about 25% annually over the next five fiscal years until 2026. Financial services is also expected to realize growth of about 150% annually until 2026 with Galileo seeing a 50% annual growth over the same time period.</p><p><blockquote>因此，SoFi在2022年应该会出现近两年来的首次重大顺风车，SLR交易量将随着个人贷款量及其更具竞争力的住房贷款产品的势头而回升。该公司预计，截至2026年的未来五个财年，其贷款业务每年将增长约25%。到2026年，金融服务预计也将实现约150%的年增长率，伽利略预计同期年增长率为50%。</blockquote></p><p> The bank charter is the next phase of SoFi's growth as it would have a material effect on every facet of SoFi's businesses from SoFi Money and all their lending lines. Why?</p><p><blockquote>银行章程是SoFi发展的下一阶段，因为它将对SoFi业务的各个方面（包括SoFi Money及其所有贷款额度）产生重大影响。为什么？</blockquote></p><p> <b>It's The Margins, Stupid</b></p><p><blockquote><b>是利润，笨蛋</b></blockquote></p><p> At the core, owning a bank charter would allow SoFi to use their deposits, primarily from SoFi Money, to fund their own loans. Only banks are allowed to take FDIC-insured deposits from the public and have access to deposits as a source of funding. This would see the company replace its current comparatively costly financing agreements in place with a patchwork of third-party institutions. Operating as a chartered bank would provide access to the payments system operated by the Federal Reserve and access to wholesale funding such as the Federal Reserve discount window, Federal Home Loan Bank advances, and the federal funds market.</p><p><blockquote>核心是，拥有银行执照将允许SoFi使用他们的存款（主要来自SoFi Money）来为自己的贷款提供资金。只有银行被允许从公众那里接受FDIC保险的存款，并有权获得存款作为资金来源。这将使该公司用第三方机构的拼凑取代目前成本相对较高的融资协议。作为特许银行运营将提供对美联储运营的支付系统的访问，以及对批发融资的访问，如美联储贴现窗口、联邦住房贷款银行预付款和联邦基金市场。</blockquote></p><p> Further, in some jurisdictions, corporate entities permitted to act as a trustee is sometimes limited to just banks and trust companies. Essentially, SoFi's customer deposits will be used as a reservoir of funds that can then be drawn on to make loans. This will have a double pronged effect of allowing SoFi to offer more competitive loan rates whilst reducing their cost of capital. It would reverberate across the company's one-stop platform model by simultaneously making all their services more competitive. This would help to extend the current multi-product platform moat and contribute heavily to the bullish story. The recent weakness in the company's stock price now means this salient catalyst is not at all priced in. The impact over the next five years on underlying revenue growth and profitability will be significant. It would help drive the company's 5-year plan to reach at least 10 million members as it builds out its value add for its core demographic of US households with annual income of $100,000 or more.</p><p><blockquote>此外，在一些司法管辖区，获准担任受托人的公司实体有时仅限于银行和信托公司。从本质上讲，SoFi的客户存款将被用作资金储备，然后可以提取用于发放贷款。这将产生双重影响，使SoFi能够提供更具竞争力的贷款利率，同时降低资本成本。这将通过同时提高所有服务的竞争力来影响公司的一站式平台模式。这将有助于扩展当前的多产品平台护城河，并为看涨故事做出重大贡献。该公司股价最近的疲软意味着这一重要催化剂根本没有被定价。未来五年对基本收入增长和盈利能力的影响将是巨大的。这将有助于推动该公司的五年计划，使其拥有至少1000万会员，因为它为年收入10万美元或以上的美国家庭核心人群增加了附加值。</blockquote></p><p></p><p> From being the sole retail distributor of the Rivian IPO and the pending banking charter, SoFi is taking the steps necessary to differentiate itself and build out a moat to dominate the expected decade-long growth of digital financial products. The company has also raised a further&nbsp;$95 million&nbsp;from the cash redemption of its outstanding warrants, simplifying its share structure.</p><p><blockquote>作为Rivian IPO和即将获得的银行牌照的唯一零售分销商，SoFi正在采取必要措施使自己脱颖而出，并建立护城河，以主导数字金融产品预期的十年增长。该公司还通过现金赎回其未偿认股权证进一步筹集了9500万美元，简化了其股份结构。</blockquote></p><p> <b>What Makes A Great Company And A Good Investment?</b></p><p><blockquote><b>什么造就了一家伟大的公司和一项好的投资？</b></blockquote></p><p> Companies with a pertinent ability to grow their revenues while proportionally increasing profits have always performed well. It's positive to see SoFi taking the steps to secure long-term revenue growth runway and underlying profitability. It's two catalysts are salient as they would place SoFi on a path to compete even better in the fields it currently operates in. Hence, with just 9 trading days left of this year left, the end of year-tax loss selling short sell trade looks set to finally taper out.J.P. Morgan's Kolanovic notes&nbsp;that the selloff is likely due for a reversal.</p><p><blockquote>有能力在按比例增加利润的同时增加收入的公司总是表现良好。看到SoFi采取措施确保长期收入增长跑道和基本盈利能力是积极的。这两个催化剂非常重要，因为它们将使SoFi在其目前运营的领域走上更好竞争的道路。因此，今年只剩下9个交易日了，年终税收损失卖空交易看起来最终将逐渐减少。摩根的科拉诺维奇指出，抛售可能会出现逆转。</blockquote></p><p> Bulls should not be complacent though as the broader economy could weaken if high inflation remains persistent and rising interest rates dampens consumer demand materially. I remain long and continue to buy on this weakness.</p><p><blockquote>不过，多头不应自满，因为如果高通胀持续存在且利率上升大幅抑制消费者需求，整体经济可能会疲软。我保持多头，并在这个弱点上继续买入。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SoFi And Its Bulls Might Just Be Standing On The Cusp Of Something Big<blockquote>SoFi及其多头可能正站在大事的风口浪尖</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoFi And Its Bulls Might Just Be Standing On The Cusp Of Something Big<blockquote>SoFi及其多头可能正站在大事的风口浪尖</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-21 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>The risk clouding one of SoFi's main catalysts for next year seems to have been removed.</li>  <li>2022 stands to be a big year as the convergence of several factors stands to see underlying competitiveness and profitability improve.</li>  <li>If SoFi's plans come to fruition, the value creation in the years ahead will be significant.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95b4a7a135703546a6ddfa3c8d7629dd\" tg-width=\"1536\" tg-height=\"924\" width=\"100%\" height=\"auto\"><span>PM Images/DigitalVision via Getty Images</span></p><p><blockquote><ul><li>SoFi明年主要催化剂之一的风险似乎已经消除。</li><li>2022年将是重要的一年，因为多种因素的融合将导致潜在竞争力和盈利能力的提高。</li><li>如果SoFi的计划得以实现，未来几年的价值创造将是巨大的。</li></ul><p class=\"t-img-caption\"><span>PM Images/DigitalVision来自Getty Images</span></p></blockquote></p><p> SoFi's (SOFI) bulls know they have two major catalysts to look forward to next year; the banking charter and the end of the student loan moratorium. The latter saw a pause on federal student loan payments and temporarily set the loan interest rate to 0%. In my&nbsp;last SoFi article, I flagged the potential extension of this as a salient risk shareholders need to be aware of. Not anymore. The White House has now categorically&nbsp;ruled out an extension&nbsp;and confirmed that repayments will begin from the start of February. Albeit with some comments on a \"smooth transition\" to repayments which will likely soften revenue recognition in the initial months.</p><p><blockquote>SoFi(SOFI)的多头知道明年他们有两个主要催化剂值得期待；银行章程和学生贷款暂停期的结束。后者暂停了联邦学生贷款支付，并暂时将贷款利率设定为0%。在我的上一篇SoFi文章中，我将这种情况的潜在扩展标记为股东需要注意的一个突出风险。不再是了。白宫现在已经明确排除了延期的可能性，并确认还款将从2月初开始。尽管有人评论“平稳过渡”到还款，这可能会削弱最初几个月的收入确认。</blockquote></p><p> SoFi was founded in 2011 by four Stanford Graduate School of Business students who wanted to provide a more affordable option to classmates taking on expensive debt to fund their education. Hence, student loan refinancing remains a significant part of the overall revenue mix even as the company's business operations have since been developed to include other types of lending, financial services, and Galileo.</p><p><blockquote>SoFi于2011年由斯坦福大学商学院的四名学生创立，他们希望为背负昂贵债务来资助教育的同学提供更实惠的选择。因此，学生贷款再融资仍然是整体收入组合的重要组成部分，尽管该公司的业务运营已发展到包括其他类型的贷款、金融服务和伽利略。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60e52914b88f26796aa31722c0dd785b\" tg-width=\"640\" tg-height=\"435\" width=\"100%\" height=\"auto\"><span>SoFi Student Loan Refinancing Offer</span></p><p><blockquote><p class=\"t-img-caption\"><span>SoFi学生贷款再融资优惠</span></p></blockquote></p><p> The impact of the extension of the moratorium on fiscal 2021 revenue was pronounced. This saw the company forfeit $52 million in SLR volume on the back of the&nbsp;CARES Act extension. This business was doing over $2 billion of student loan volume a quarter before the pandemic hit. The student loan business has been at less than 50% as lenders took on a more laid back approach to paying back their student loans since the initial moratorium was enacted via an executive order in March 2020.</p><p><blockquote>延期延期对2021财年收入的影响是显而易见的。由于CARES Act延期，该公司损失了5200万美元的SLR销量。在疫情爆发前的一个季度，该公司的学生贷款额超过20亿美元。自2020年3月通过行政命令颁布最初的暂停令以来，贷款机构采取了更加悠闲的方式来偿还学生贷款，学生贷款业务的比例一直低于50%。</blockquote></p><p> Hence, and for the first time in almost two years, SoFi should have a significant tailwind in 2022 with SLR volumes picking up to aggregate with momentum in personal loan volume and its more competitive home loan product. The company expects its lending business to grow by about 25% annually over the next five fiscal years until 2026. Financial services is also expected to realize growth of about 150% annually until 2026 with Galileo seeing a 50% annual growth over the same time period.</p><p><blockquote>因此，SoFi在2022年应该会出现近两年来的首次重大顺风车，SLR交易量将随着个人贷款量及其更具竞争力的住房贷款产品的势头而回升。该公司预计，截至2026年的未来五个财年，其贷款业务每年将增长约25%。到2026年，金融服务预计也将实现约150%的年增长率，伽利略预计同期年增长率为50%。</blockquote></p><p> The bank charter is the next phase of SoFi's growth as it would have a material effect on every facet of SoFi's businesses from SoFi Money and all their lending lines. Why?</p><p><blockquote>银行章程是SoFi发展的下一阶段，因为它将对SoFi业务的各个方面（包括SoFi Money及其所有贷款额度）产生重大影响。为什么？</blockquote></p><p> <b>It's The Margins, Stupid</b></p><p><blockquote><b>是利润，笨蛋</b></blockquote></p><p> At the core, owning a bank charter would allow SoFi to use their deposits, primarily from SoFi Money, to fund their own loans. Only banks are allowed to take FDIC-insured deposits from the public and have access to deposits as a source of funding. This would see the company replace its current comparatively costly financing agreements in place with a patchwork of third-party institutions. Operating as a chartered bank would provide access to the payments system operated by the Federal Reserve and access to wholesale funding such as the Federal Reserve discount window, Federal Home Loan Bank advances, and the federal funds market.</p><p><blockquote>核心是，拥有银行执照将允许SoFi使用他们的存款（主要来自SoFi Money）来为自己的贷款提供资金。只有银行被允许从公众那里接受FDIC保险的存款，并有权获得存款作为资金来源。这将使该公司用第三方机构的拼凑取代目前成本相对较高的融资协议。作为特许银行运营将提供对美联储运营的支付系统的访问，以及对批发融资的访问，如美联储贴现窗口、联邦住房贷款银行预付款和联邦基金市场。</blockquote></p><p> Further, in some jurisdictions, corporate entities permitted to act as a trustee is sometimes limited to just banks and trust companies. Essentially, SoFi's customer deposits will be used as a reservoir of funds that can then be drawn on to make loans. This will have a double pronged effect of allowing SoFi to offer more competitive loan rates whilst reducing their cost of capital. It would reverberate across the company's one-stop platform model by simultaneously making all their services more competitive. This would help to extend the current multi-product platform moat and contribute heavily to the bullish story. The recent weakness in the company's stock price now means this salient catalyst is not at all priced in. The impact over the next five years on underlying revenue growth and profitability will be significant. It would help drive the company's 5-year plan to reach at least 10 million members as it builds out its value add for its core demographic of US households with annual income of $100,000 or more.</p><p><blockquote>此外，在一些司法管辖区，获准担任受托人的公司实体有时仅限于银行和信托公司。从本质上讲，SoFi的客户存款将被用作资金储备，然后可以提取用于发放贷款。这将产生双重影响，使SoFi能够提供更具竞争力的贷款利率，同时降低资本成本。这将通过同时提高所有服务的竞争力来影响公司的一站式平台模式。这将有助于扩展当前的多产品平台护城河，并为看涨故事做出重大贡献。该公司股价最近的疲软意味着这一重要催化剂根本没有被定价。未来五年对基本收入增长和盈利能力的影响将是巨大的。这将有助于推动该公司的五年计划，使其拥有至少1000万会员，因为它为年收入10万美元或以上的美国家庭核心人群增加了附加值。</blockquote></p><p></p><p> From being the sole retail distributor of the Rivian IPO and the pending banking charter, SoFi is taking the steps necessary to differentiate itself and build out a moat to dominate the expected decade-long growth of digital financial products. The company has also raised a further&nbsp;$95 million&nbsp;from the cash redemption of its outstanding warrants, simplifying its share structure.</p><p><blockquote>作为Rivian IPO和即将获得的银行牌照的唯一零售分销商，SoFi正在采取必要措施使自己脱颖而出，并建立护城河，以主导数字金融产品预期的十年增长。该公司还通过现金赎回其未偿认股权证进一步筹集了9500万美元，简化了其股份结构。</blockquote></p><p> <b>What Makes A Great Company And A Good Investment?</b></p><p><blockquote><b>什么造就了一家伟大的公司和一项好的投资？</b></blockquote></p><p> Companies with a pertinent ability to grow their revenues while proportionally increasing profits have always performed well. It's positive to see SoFi taking the steps to secure long-term revenue growth runway and underlying profitability. It's two catalysts are salient as they would place SoFi on a path to compete even better in the fields it currently operates in. Hence, with just 9 trading days left of this year left, the end of year-tax loss selling short sell trade looks set to finally taper out.J.P. Morgan's Kolanovic notes&nbsp;that the selloff is likely due for a reversal.</p><p><blockquote>有能力在按比例增加利润的同时增加收入的公司总是表现良好。看到SoFi采取措施确保长期收入增长跑道和基本盈利能力是积极的。这两个催化剂非常重要，因为它们将使SoFi在其目前运营的领域走上更好竞争的道路。因此，今年只剩下9个交易日了，年终税收损失卖空交易看起来最终将逐渐减少。摩根的科拉诺维奇指出，抛售可能会出现逆转。</blockquote></p><p> Bulls should not be complacent though as the broader economy could weaken if high inflation remains persistent and rising interest rates dampens consumer demand materially. I remain long and continue to buy on this weakness.</p><p><blockquote>不过，多头不应自满，因为如果高通胀持续存在且利率上升大幅抑制消费者需求，整体经济可能会疲软。我保持多头，并在这个弱点上继续买入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4476032-sofi-bulls-on-cusp-of-something-big\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOFI":"SoFi Technologies Inc."},"source_url":"https://seekingalpha.com/article/4476032-sofi-bulls-on-cusp-of-something-big","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108709960","content_text":"Summary\n\nThe risk clouding one of SoFi's main catalysts for next year seems to have been removed.\n2022 stands to be a big year as the convergence of several factors stands to see underlying competitiveness and profitability improve.\nIf SoFi's plans come to fruition, the value creation in the years ahead will be significant.\n\nPM Images/DigitalVision via Getty Images\nSoFi's (SOFI) bulls know they have two major catalysts to look forward to next year; the banking charter and the end of the student loan moratorium. The latter saw a pause on federal student loan payments and temporarily set the loan interest rate to 0%. In my last SoFi article, I flagged the potential extension of this as a salient risk shareholders need to be aware of. Not anymore. The White House has now categorically ruled out an extension and confirmed that repayments will begin from the start of February. Albeit with some comments on a \"smooth transition\" to repayments which will likely soften revenue recognition in the initial months.\nSoFi was founded in 2011 by four Stanford Graduate School of Business students who wanted to provide a more affordable option to classmates taking on expensive debt to fund their education. Hence, student loan refinancing remains a significant part of the overall revenue mix even as the company's business operations have since been developed to include other types of lending, financial services, and Galileo.\nSoFi Student Loan Refinancing Offer\nThe impact of the extension of the moratorium on fiscal 2021 revenue was pronounced. This saw the company forfeit $52 million in SLR volume on the back of the CARES Act extension. This business was doing over $2 billion of student loan volume a quarter before the pandemic hit. The student loan business has been at less than 50% as lenders took on a more laid back approach to paying back their student loans since the initial moratorium was enacted via an executive order in March 2020.\nHence, and for the first time in almost two years, SoFi should have a significant tailwind in 2022 with SLR volumes picking up to aggregate with momentum in personal loan volume and its more competitive home loan product. The company expects its lending business to grow by about 25% annually over the next five fiscal years until 2026. Financial services is also expected to realize growth of about 150% annually until 2026 with Galileo seeing a 50% annual growth over the same time period.\nThe bank charter is the next phase of SoFi's growth as it would have a material effect on every facet of SoFi's businesses from SoFi Money and all their lending lines. Why?\nIt's The Margins, Stupid\nAt the core, owning a bank charter would allow SoFi to use their deposits, primarily from SoFi Money, to fund their own loans. Only banks are allowed to take FDIC-insured deposits from the public and have access to deposits as a source of funding. This would see the company replace its current comparatively costly financing agreements in place with a patchwork of third-party institutions. Operating as a chartered bank would provide access to the payments system operated by the Federal Reserve and access to wholesale funding such as the Federal Reserve discount window, Federal Home Loan Bank advances, and the federal funds market.\nFurther, in some jurisdictions, corporate entities permitted to act as a trustee is sometimes limited to just banks and trust companies. Essentially, SoFi's customer deposits will be used as a reservoir of funds that can then be drawn on to make loans. This will have a double pronged effect of allowing SoFi to offer more competitive loan rates whilst reducing their cost of capital. It would reverberate across the company's one-stop platform model by simultaneously making all their services more competitive. This would help to extend the current multi-product platform moat and contribute heavily to the bullish story. The recent weakness in the company's stock price now means this salient catalyst is not at all priced in. The impact over the next five years on underlying revenue growth and profitability will be significant. It would help drive the company's 5-year plan to reach at least 10 million members as it builds out its value add for its core demographic of US households with annual income of $100,000 or more.\nFrom being the sole retail distributor of the Rivian IPO and the pending banking charter, SoFi is taking the steps necessary to differentiate itself and build out a moat to dominate the expected decade-long growth of digital financial products. The company has also raised a further $95 million from the cash redemption of its outstanding warrants, simplifying its share structure.\nWhat Makes A Great Company And A Good Investment?\nCompanies with a pertinent ability to grow their revenues while proportionally increasing profits have always performed well. It's positive to see SoFi taking the steps to secure long-term revenue growth runway and underlying profitability. It's two catalysts are salient as they would place SoFi on a path to compete even better in the fields it currently operates in. Hence, with just 9 trading days left of this year left, the end of year-tax loss selling short sell trade looks set to finally taper out.J.P. Morgan's Kolanovic notes that the selloff is likely due for a reversal.\nBulls should not be complacent though as the broader economy could weaken if high inflation remains persistent and rising interest rates dampens consumer demand materially. I remain long and continue to buy on this weakness.","news_type":1,"symbols_score_info":{"SOFI":0.9}},"isVote":1,"tweetType":1,"viewCount":2794,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693919720,"gmtCreate":1639959812741,"gmtModify":1639959813187,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693919720","repostId":"1154958924","repostType":4,"repost":{"id":"1154958924","kind":"news","pubTimestamp":1639958978,"share":"https://www.laohu8.com/m/news/1154958924?lang=zh_CN&edition=full","pubTime":"2021-12-20 08:09","market":"sg","language":"en","title":"Singapore Stock Market May Give Up Support At 3,100 Points<blockquote>新加坡股市或放弃3100点支撑</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154958924","media":"RTTNews","summary":"The Singapore stock market has alternated between positive and negative finishes through the last fo","content":"<p>The Singapore stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day slide in which it had fallen more than 20 points or 0.7 percent. The Straits Times Index now sits just above the 3,110-point plateau and it may take further damage again on Monday.</p><p><blockquote>自连续两天下跌超过20点或0.7%以来，新加坡股市在过去四个交易日中涨跌互现。海峡时报指数目前略高于3,110点的高位，周一可能会再次遭受进一步损害。</blockquote></p><p> The global forecast for the Asian&nbsp;markets&nbsp;is soft on omicron coronavirus concerns and sinking oil prices. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.</p><p><blockquote>由于奥密克戎冠状病毒担忧和油价下跌，全球对亚洲市场的预测疲软。欧洲市场涨跌互现，美国股市下跌，亚洲市场似乎分担了这一差异。</blockquote></p><p> The STI finished modestly lower on Friday following losses from the industrials and properties, while the financials came in mixed.</p><p><blockquote>继工业和房地产股下跌后，海指周五小幅收低，而金融股则涨跌互现。</blockquote></p><p> For the day, the index lost 17.17 points or 0.55 percent to finish at the daily low of 3,111.63 after peaking at 3,134.99. Volume was 1.2 billion shares worth 1.5 billion Singapore dollars. There were 280 decliners and 188 gainers.</p><p><blockquote>当天，该指数下跌17.17点或0.55%，收于3111.63点的日低，此前曾触及3134.99点的高点。成交量为12亿股，价值15亿新元。下跌股280只，上涨股188只。</blockquote></p><p> Among the actives, CapitaLand Integrated Commercial Trust and Mapletree Commercial Trust both slumped 0.50 percent, while City Developments tanked 1.45 percent, Comfort DelGro lost 0.72 percent, Dairy Farm International slid 0.36 percent, DBS Group collected 0.34 percent, Genting Singapore fell 0.65 percent, Hongkong Land plummeted 2.07 percent, Keppel Corp and Venture Corporation both sank 0.97 percent, Mapletree Logistics Trust weakened 0.53 percent, Oversea-Chinese Banking Corporation eased 0.09 percent, SATS skidded 1.03 percent, SembCorp Industries plunged 1.49 percent, Singapore Airlines dropped 0.81 percent, Singapore Exchange tumbled 1.39 percent, Singapore Press Holdings added 0.43 percent, Singapore Technologies Engineering retreated 1.06 percent, SingTel stumbled 0.63 percent, Thai Beverage shed 0.75 percent, United Overseas Bank dipped 0.30 percent, Wilmar International declined 1.21 percent and Yangzijiang Shipbuilding and Ascendas REIT were unchanged.</p><p><blockquote>活跃股中，凯德综合商业信托和丰树商业信托均下跌0.50%，City Developments下跌1.45%，Comfort DelGro下跌0.72%，Dairy Farm International下跌0.36%，DBS Group上涨0.34%，云顶新加坡下跌0.65%，香港置地暴跌2.07%，吉宝企业和Venture Corporation均下跌0.97%，丰树物流信托下跌0.53%，华侨银行下跌0.03%，胜科工业下跌1.49%，新加坡航空下跌0.81%，新加坡报业控股上涨0.43%，新加坡科技工程下跌1.06%，新加坡电信下跌0.63%，泰国饮料下跌0.75%，丰益国际下跌1.21%，扬子江造船和腾飞房地产投资信托持平。</blockquote></p><p> The lead from Wall Street is negative as the major averages opened lower on a volatile Friday. The NASDAQ peeked briefly into the green but the markets all still finished in the red.</p><p><blockquote>华尔街的领先是负面的，因为主要股指在动荡的周五开盘走低。纳斯达克短暂出现绿色，但市场仍以红色收盘。</blockquote></p><p> The Dow plunged 532.16 points or 1.48 percent to finish at 35,365.44, while the NASDAQ dipped 10.72 points or 0.07 percent to close at 15,169.68 and the S&amp;P 500 sank 48.03 points or 1.03 percent to end at 4,620.64. For the week, the NASDAQ plunged 2.9 percent, the Dow lost 1.7 percent and the S&amp;P was down 1.9 percent.</p><p><blockquote>道琼斯指数下跌532.16点，跌幅1.48%，收于35,365.44点；纳斯达克下跌10.72点，跌幅0.07%，收于15,169.68点；标普500下跌48.03点，跌幅1.03%，收于4,620.64点。本周，纳斯达克暴跌2.9%，道琼斯指数下跌1.7%，标准普尔指数下跌1.9%。</blockquote></p><p> The volatility on Wall Street came on a quadruple witching day, with stock options, index options, stock futures and index futures all expiring.</p><p><blockquote>华尔街的波动发生在四重巫术日，股票期权、指数期权、股票期货和指数期货都将到期。</blockquote></p><p> Concerns about the impact of the Omicron variant of the&nbsp;coronavirus&nbsp;also weighed on the markets along with worries about ongoing supply chain issues.</p><p><blockquote>对冠状病毒奥密克戎变种影响的担忧以及对持续供应链问题的担忧也给市场带来压力。</blockquote></p><p> Crude oil prices tumbled Friday on concerns for energy demand due to a rapid surge in Omicron variant of the coronavirus and reimposition of restrictions. West Texas Intermediate Crude oil futures for January sank $1.52 or 2.1 percent at $70.86 a barrel. WTI crude futures shed 1.1 percent in the week.</p><p><blockquote>由于冠状病毒奥密克戎变种迅速激增和重新实施限制，对能源需求的担忧，原油价格周五暴跌。西德克萨斯中质原油1月期货下跌1.52美元，或2.1%，报每桶70.86美元。WTI原油期货本周下跌1.1%。</blockquote></p><p></p>","source":"lsy1626938412129","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Stock Market May Give Up Support At 3,100 Points<blockquote>新加坡股市或放弃3100点支撑</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Stock Market May Give Up Support At 3,100 Points<blockquote>新加坡股市或放弃3100点支撑</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">RTTNews</strong><span class=\"h-time small\">2021-12-20 08:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Singapore stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day slide in which it had fallen more than 20 points or 0.7 percent. The Straits Times Index now sits just above the 3,110-point plateau and it may take further damage again on Monday.</p><p><blockquote>自连续两天下跌超过20点或0.7%以来，新加坡股市在过去四个交易日中涨跌互现。海峡时报指数目前略高于3,110点的高位，周一可能会再次遭受进一步损害。</blockquote></p><p> The global forecast for the Asian&nbsp;markets&nbsp;is soft on omicron coronavirus concerns and sinking oil prices. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.</p><p><blockquote>由于奥密克戎冠状病毒担忧和油价下跌，全球对亚洲市场的预测疲软。欧洲市场涨跌互现，美国股市下跌，亚洲市场似乎分担了这一差异。</blockquote></p><p> The STI finished modestly lower on Friday following losses from the industrials and properties, while the financials came in mixed.</p><p><blockquote>继工业和房地产股下跌后，海指周五小幅收低，而金融股则涨跌互现。</blockquote></p><p> For the day, the index lost 17.17 points or 0.55 percent to finish at the daily low of 3,111.63 after peaking at 3,134.99. Volume was 1.2 billion shares worth 1.5 billion Singapore dollars. There were 280 decliners and 188 gainers.</p><p><blockquote>当天，该指数下跌17.17点或0.55%，收于3111.63点的日低，此前曾触及3134.99点的高点。成交量为12亿股，价值15亿新元。下跌股280只，上涨股188只。</blockquote></p><p> Among the actives, CapitaLand Integrated Commercial Trust and Mapletree Commercial Trust both slumped 0.50 percent, while City Developments tanked 1.45 percent, Comfort DelGro lost 0.72 percent, Dairy Farm International slid 0.36 percent, DBS Group collected 0.34 percent, Genting Singapore fell 0.65 percent, Hongkong Land plummeted 2.07 percent, Keppel Corp and Venture Corporation both sank 0.97 percent, Mapletree Logistics Trust weakened 0.53 percent, Oversea-Chinese Banking Corporation eased 0.09 percent, SATS skidded 1.03 percent, SembCorp Industries plunged 1.49 percent, Singapore Airlines dropped 0.81 percent, Singapore Exchange tumbled 1.39 percent, Singapore Press Holdings added 0.43 percent, Singapore Technologies Engineering retreated 1.06 percent, SingTel stumbled 0.63 percent, Thai Beverage shed 0.75 percent, United Overseas Bank dipped 0.30 percent, Wilmar International declined 1.21 percent and Yangzijiang Shipbuilding and Ascendas REIT were unchanged.</p><p><blockquote>活跃股中，凯德综合商业信托和丰树商业信托均下跌0.50%，City Developments下跌1.45%，Comfort DelGro下跌0.72%，Dairy Farm International下跌0.36%，DBS Group上涨0.34%，云顶新加坡下跌0.65%，香港置地暴跌2.07%，吉宝企业和Venture Corporation均下跌0.97%，丰树物流信托下跌0.53%，华侨银行下跌0.03%，胜科工业下跌1.49%，新加坡航空下跌0.81%，新加坡报业控股上涨0.43%，新加坡科技工程下跌1.06%，新加坡电信下跌0.63%，泰国饮料下跌0.75%，丰益国际下跌1.21%，扬子江造船和腾飞房地产投资信托持平。</blockquote></p><p> The lead from Wall Street is negative as the major averages opened lower on a volatile Friday. The NASDAQ peeked briefly into the green but the markets all still finished in the red.</p><p><blockquote>华尔街的领先是负面的，因为主要股指在动荡的周五开盘走低。纳斯达克短暂出现绿色，但市场仍以红色收盘。</blockquote></p><p> The Dow plunged 532.16 points or 1.48 percent to finish at 35,365.44, while the NASDAQ dipped 10.72 points or 0.07 percent to close at 15,169.68 and the S&amp;P 500 sank 48.03 points or 1.03 percent to end at 4,620.64. For the week, the NASDAQ plunged 2.9 percent, the Dow lost 1.7 percent and the S&amp;P was down 1.9 percent.</p><p><blockquote>道琼斯指数下跌532.16点，跌幅1.48%，收于35,365.44点；纳斯达克下跌10.72点，跌幅0.07%，收于15,169.68点；标普500下跌48.03点，跌幅1.03%，收于4,620.64点。本周，纳斯达克暴跌2.9%，道琼斯指数下跌1.7%，标准普尔指数下跌1.9%。</blockquote></p><p> The volatility on Wall Street came on a quadruple witching day, with stock options, index options, stock futures and index futures all expiring.</p><p><blockquote>华尔街的波动发生在四重巫术日，股票期权、指数期权、股票期货和指数期货都将到期。</blockquote></p><p> Concerns about the impact of the Omicron variant of the&nbsp;coronavirus&nbsp;also weighed on the markets along with worries about ongoing supply chain issues.</p><p><blockquote>对冠状病毒奥密克戎变种影响的担忧以及对持续供应链问题的担忧也给市场带来压力。</blockquote></p><p> Crude oil prices tumbled Friday on concerns for energy demand due to a rapid surge in Omicron variant of the coronavirus and reimposition of restrictions. West Texas Intermediate Crude oil futures for January sank $1.52 or 2.1 percent at $70.86 a barrel. WTI crude futures shed 1.1 percent in the week.</p><p><blockquote>由于冠状病毒奥密克戎变种迅速激增和重新实施限制，对能源需求的担忧，原油价格周五暴跌。西德克萨斯中质原油1月期货下跌1.52美元，或2.1%，报每桶70.86美元。WTI原油期货本周下跌1.1%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.rttnews.com/3250329/singapore-stock-market-may-give-up-support-at-3100-points.aspx\">RTTNews</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.rttnews.com/3250329/singapore-stock-market-may-give-up-support-at-3100-points.aspx","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154958924","content_text":"The Singapore stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day slide in which it had fallen more than 20 points or 0.7 percent. The Straits Times Index now sits just above the 3,110-point plateau and it may take further damage again on Monday.\nThe global forecast for the Asian markets is soft on omicron coronavirus concerns and sinking oil prices. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.\nThe STI finished modestly lower on Friday following losses from the industrials and properties, while the financials came in mixed.\nFor the day, the index lost 17.17 points or 0.55 percent to finish at the daily low of 3,111.63 after peaking at 3,134.99. Volume was 1.2 billion shares worth 1.5 billion Singapore dollars. There were 280 decliners and 188 gainers.\nAmong the actives, CapitaLand Integrated Commercial Trust and Mapletree Commercial Trust both slumped 0.50 percent, while City Developments tanked 1.45 percent, Comfort DelGro lost 0.72 percent, Dairy Farm International slid 0.36 percent, DBS Group collected 0.34 percent, Genting Singapore fell 0.65 percent, Hongkong Land plummeted 2.07 percent, Keppel Corp and Venture Corporation both sank 0.97 percent, Mapletree Logistics Trust weakened 0.53 percent, Oversea-Chinese Banking Corporation eased 0.09 percent, SATS skidded 1.03 percent, SembCorp Industries plunged 1.49 percent, Singapore Airlines dropped 0.81 percent, Singapore Exchange tumbled 1.39 percent, Singapore Press Holdings added 0.43 percent, Singapore Technologies Engineering retreated 1.06 percent, SingTel stumbled 0.63 percent, Thai Beverage shed 0.75 percent, United Overseas Bank dipped 0.30 percent, Wilmar International declined 1.21 percent and Yangzijiang Shipbuilding and Ascendas REIT were unchanged.\nThe lead from Wall Street is negative as the major averages opened lower on a volatile Friday. The NASDAQ peeked briefly into the green but the markets all still finished in the red.\nThe Dow plunged 532.16 points or 1.48 percent to finish at 35,365.44, while the NASDAQ dipped 10.72 points or 0.07 percent to close at 15,169.68 and the S&P 500 sank 48.03 points or 1.03 percent to end at 4,620.64. For the week, the NASDAQ plunged 2.9 percent, the Dow lost 1.7 percent and the S&P was down 1.9 percent.\nThe volatility on Wall Street came on a quadruple witching day, with stock options, index options, stock futures and index futures all expiring.\nConcerns about the impact of the Omicron variant of the coronavirus also weighed on the markets along with worries about ongoing supply chain issues.\nCrude oil prices tumbled Friday on concerns for energy demand due to a rapid surge in Omicron variant of the coronavirus and reimposition of restrictions. West Texas Intermediate Crude oil futures for January sank $1.52 or 2.1 percent at $70.86 a barrel. WTI crude futures shed 1.1 percent in the week.","news_type":1,"symbols_score_info":{"STI.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":3747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699539051,"gmtCreate":1639834215662,"gmtModify":1639834216119,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699539051","repostId":"2192754259","repostType":4,"isVote":1,"tweetType":1,"viewCount":2715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699190549,"gmtCreate":1639753778787,"gmtModify":1639753814023,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699190549","repostId":"2192597562","repostType":4,"isVote":1,"tweetType":1,"viewCount":3003,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690026164,"gmtCreate":1639615141341,"gmtModify":1639615141843,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/690026164","repostId":"1181071895","repostType":4,"isVote":1,"tweetType":1,"viewCount":2857,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607484949,"gmtCreate":1639579307177,"gmtModify":1639579307703,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607484949","repostId":"1153017502","repostType":4,"repost":{"id":"1153017502","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639578803,"share":"https://www.laohu8.com/m/news/1153017502?lang=zh_CN&edition=full","pubTime":"2021-12-15 22:33","market":"us","language":"en","title":"U.S. stock market kicks off lackluster start on Fed decision day,S&P 500 gains 0.1%<blockquote>美联储决策日美股开局乏善可陈标普500涨0.1%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1153017502","media":"Tiger Newspress","summary":"U.S. stock market kicks off lackluster start on Fed decision day,Nasdaq Composite off less than 0.1%","content":"<p>U.S. stock market kicks off lackluster start on Fed decision day,Nasdaq Composite off less than 0.1%,S&amp;P 500 gains 0.1%; Dow trades flat but hanging around a gain of 0.1%.</p><p><blockquote>美联储决策日美国股市开局乏善可陈，纳斯达克综合指数下跌不到0.1%，标普500上涨0.1%；道琼斯指数持平，但涨幅徘徊在0.1%左右。</blockquote></p><p> All eyes on Wednesday will be on the Federal Reserve's monetary policy statement and press conference by Federal Reserve Chair Jerome Powell. Many market participants expect these will set the stage for the Fed to speed the withdrawal of its crisis-era stimulus programs, with the firming economic recovery and soaring inflation suggesting the central bank has room for a more hawkish tilt to policy. Last week's Consumer Price Index showed thefastest surge in U.S. consumer prices since 1982on a year-over-year basis in November. And on Tuesday, the U.S. Producer Price Index jumped by the most on record at a 9.6% year-over-year increase for last month.</p><p><blockquote>周三所有人的目光都将集中在美联储的货币政策声明和美联储主席杰罗姆·鲍威尔的新闻发布会上。许多市场人士预计，这些将为美联储加快退出危机时期的刺激计划奠定基础，经济复苏企稳和通胀飙升表明美联储有空间在政策上更加鹰派。上周的消费者价格指数显示，11月份美国消费者价格同比涨幅为1982年以来最快。周二，美国生产者价格指数上个月同比上涨9.6%，创有记录以来最大涨幅。</blockquote></p><p> Specifically, many investors anticipate the Fed will ramp up the rate of tapering of its asset-purchasing program, which took place at a rate of $120 billion per month in combined Treasuries and agency mortgage-backed securities from the start of the pandemic through November. Last month, the Fed began dialing back these purchases by $15 billion, and announced another $15 billion reduction for December.</p><p><blockquote>具体来说，许多投资者预计美联储将加快资产购买计划的缩减速度，从疫情开始到11月，美国国债和机构抵押贷款支持证券的缩减速度为每月1200亿美元。上个月，美联储开始将这些购买量减少150亿美元，并宣布12月份再减少150亿美元。</blockquote></p><p> \"We don't think that the Fed is really going to have any surprises for the markets [Wednesday]. They're probably going to announce that they're going to ... accelerate tapering, and that they'll probably finish that by March. But we think that they're going to leave themselves lots flexibility around raising interest rates,\" Tracie McMillion, Wells Fargo Investment Institute head of global asset allocation strategy,told Yahoo Finance Live on Tuesday.She added she expects just one interest rate hike from the Federal Reserve in the second half of next year.</p><p><blockquote>“我们认为美联储（周三）不会真的给市场带来任何惊喜。他们可能会宣布他们将……加速缩减规模，而且他们可能会在三月份之前完成缩减规模。但我们认为他们将在加息方面给自己留下很大的灵活性，”富国银行投资研究所全球资产配置策略主管Tracie McMillion周二对雅虎财经直播表示。她补充说，预计美联储明年下半年只会加息一次。</blockquote></p><p> Other pundits, however, expect an earlier liftoff on interest rates, which maybe be reflected in the Federal Open Market Committee's (FOMC) updated Summary of Economic Projections on Wednesday.</p><p><blockquote>然而，其他专家预计利率将提前上升，这可能会反映在联邦公开市场委员会（FOMC）周三更新的经济预测摘要中。</blockquote></p><p> \"The announcement of faster tapering after today's FOMC meeting is a done deal; we'd be astonished by anything other than a plan to complete asset purchases by the end of March at the latest,\" wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a note on Tuesday. He expects the Fed to stick to its prior plan of purchasing $90 billion in its asset-purchase program this month, before doubling the rate of tapering from its current $15 billion per month starting in January.</p><p><blockquote>万神殿宏观经济公司(Pantheon Macroeconomics)首席经济学家伊恩·谢泼德森(Ian Shepherdson)写道：“今天的FOMC会议后宣布加快缩减规模已成定局；除了最迟在3月底之前完成资产购买的计划之外，我们会对任何事情感到惊讶。”在周二的一份说明中。他预计，美联储将坚持其先前的计划，即本月在资产购买计划中购买900亿美元，然后从1月份开始将缩减速度从目前的每月150亿美元增加一倍。</blockquote></p><p> \"That would mean purchases drop to $60 billion in January, $30 billion in February, and zero in March, leaving the door open to a rate hike that month if the inflation outlook has not improved, via a clear and sustained increase in the labor force participation rate,\" he added.</p><p><blockquote>“这将意味着1月份的购买量降至600亿美元，2月份降至300亿美元，3月份降至零，如果通胀前景没有改善，那么当月加息的大门就敞开了，劳动力参与率，”他补充道。</blockquote></p><p> A number of strategists noted the trading activity in recent sessions and weeks has reflected the market pricing of a more hawkish Fed. Software and other growth names were some of the biggest laggards in the major indexes during Tuesday's session.</p><p><blockquote>许多策略师指出，最近几个交易日和几周的交易活动反映了市场对美联储更加鹰派的定价。周二交易中，软件和其他成长型股票是主要股指中表现最差的股票之一。</blockquote></p><p> \"When you have an anticipation of higher interest rates, growth stocks or long-duration growth stocks certainly get hit the hardest,\" Art Hogan, national chief market strategist, told Yahoo Finance Live on Tuesday. \"When you do that net present value calculation with a higher interest rate, that implied multiple or ascribed multiple to growth names comes in. So a lot of that's been priced in. When you think about some of those real growth-y names and momentum names and risk assets, they've seen a lot of carnage.\"</p><p><blockquote>全国首席市场策略师阿特·霍根周二对雅虎财经直播表示：“当你预期利率上升时，成长型股票或长期成长型股票肯定会受到最严重的打击。”“当你用较高的利率进行净现值计算时，成长型公司的隐含倍数或归属倍数就会出现。所以很多都已经被定价了。当你想到一些真正的成长型公司和动量型公司时名字和风险资产，他们已经看到了很多屠杀。”</blockquote></p><p> \"What the market is trying to tell us here is that when you set your asset allocation plan for next year, you want to have a barbell approach with growth on one side — you want to have those growth names that are actually valued at a multiple to earnings, not a multiple to revenues or a multiple to cash flows or a multiple to sales,\" he added. \"We anticipate 2022 is going to be very much like 2021, where you really want to have a balance between growth and value.\"</p><p><blockquote>“市场在这里试图告诉我们的是，当你制定明年的资产配置计划时，你希望采用杠铃法，一方面是增长——你希望那些实际估值为收益倍数的增长名称，而不是收入的倍数、现金流的倍数或销售额的倍数，”他补充道。“我们预计2022年将与2021年非常相似，您确实希望在增长和价值之间取得平衡。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stock market kicks off lackluster start on Fed decision day,S&P 500 gains 0.1%<blockquote>美联储决策日美股开局乏善可陈标普500涨0.1%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stock market kicks off lackluster start on Fed decision day,S&P 500 gains 0.1%<blockquote>美联储决策日美股开局乏善可陈标普500涨0.1%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-15 22:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stock market kicks off lackluster start on Fed decision day,Nasdaq Composite off less than 0.1%,S&amp;P 500 gains 0.1%; Dow trades flat but hanging around a gain of 0.1%.</p><p><blockquote>美联储决策日美国股市开局乏善可陈，纳斯达克综合指数下跌不到0.1%，标普500上涨0.1%；道琼斯指数持平，但涨幅徘徊在0.1%左右。</blockquote></p><p> All eyes on Wednesday will be on the Federal Reserve's monetary policy statement and press conference by Federal Reserve Chair Jerome Powell. Many market participants expect these will set the stage for the Fed to speed the withdrawal of its crisis-era stimulus programs, with the firming economic recovery and soaring inflation suggesting the central bank has room for a more hawkish tilt to policy. Last week's Consumer Price Index showed thefastest surge in U.S. consumer prices since 1982on a year-over-year basis in November. And on Tuesday, the U.S. Producer Price Index jumped by the most on record at a 9.6% year-over-year increase for last month.</p><p><blockquote>周三所有人的目光都将集中在美联储的货币政策声明和美联储主席杰罗姆·鲍威尔的新闻发布会上。许多市场人士预计，这些将为美联储加快退出危机时期的刺激计划奠定基础，经济复苏企稳和通胀飙升表明美联储有空间在政策上更加鹰派。上周的消费者价格指数显示，11月份美国消费者价格同比涨幅为1982年以来最快。周二，美国生产者价格指数上个月同比上涨9.6%，创有记录以来最大涨幅。</blockquote></p><p> Specifically, many investors anticipate the Fed will ramp up the rate of tapering of its asset-purchasing program, which took place at a rate of $120 billion per month in combined Treasuries and agency mortgage-backed securities from the start of the pandemic through November. Last month, the Fed began dialing back these purchases by $15 billion, and announced another $15 billion reduction for December.</p><p><blockquote>具体来说，许多投资者预计美联储将加快资产购买计划的缩减速度，从疫情开始到11月，美国国债和机构抵押贷款支持证券的缩减速度为每月1200亿美元。上个月，美联储开始将这些购买量减少150亿美元，并宣布12月份再减少150亿美元。</blockquote></p><p> \"We don't think that the Fed is really going to have any surprises for the markets [Wednesday]. They're probably going to announce that they're going to ... accelerate tapering, and that they'll probably finish that by March. But we think that they're going to leave themselves lots flexibility around raising interest rates,\" Tracie McMillion, Wells Fargo Investment Institute head of global asset allocation strategy,told Yahoo Finance Live on Tuesday.She added she expects just one interest rate hike from the Federal Reserve in the second half of next year.</p><p><blockquote>“我们认为美联储（周三）不会真的给市场带来任何惊喜。他们可能会宣布他们将……加速缩减规模，而且他们可能会在三月份之前完成缩减规模。但我们认为他们将在加息方面给自己留下很大的灵活性，”富国银行投资研究所全球资产配置策略主管Tracie McMillion周二对雅虎财经直播表示。她补充说，预计美联储明年下半年只会加息一次。</blockquote></p><p> Other pundits, however, expect an earlier liftoff on interest rates, which maybe be reflected in the Federal Open Market Committee's (FOMC) updated Summary of Economic Projections on Wednesday.</p><p><blockquote>然而，其他专家预计利率将提前上升，这可能会反映在联邦公开市场委员会（FOMC）周三更新的经济预测摘要中。</blockquote></p><p> \"The announcement of faster tapering after today's FOMC meeting is a done deal; we'd be astonished by anything other than a plan to complete asset purchases by the end of March at the latest,\" wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a note on Tuesday. He expects the Fed to stick to its prior plan of purchasing $90 billion in its asset-purchase program this month, before doubling the rate of tapering from its current $15 billion per month starting in January.</p><p><blockquote>万神殿宏观经济公司(Pantheon Macroeconomics)首席经济学家伊恩·谢泼德森(Ian Shepherdson)写道：“今天的FOMC会议后宣布加快缩减规模已成定局；除了最迟在3月底之前完成资产购买的计划之外，我们会对任何事情感到惊讶。”在周二的一份说明中。他预计，美联储将坚持其先前的计划，即本月在资产购买计划中购买900亿美元，然后从1月份开始将缩减速度从目前的每月150亿美元增加一倍。</blockquote></p><p> \"That would mean purchases drop to $60 billion in January, $30 billion in February, and zero in March, leaving the door open to a rate hike that month if the inflation outlook has not improved, via a clear and sustained increase in the labor force participation rate,\" he added.</p><p><blockquote>“这将意味着1月份的购买量降至600亿美元，2月份降至300亿美元，3月份降至零，如果通胀前景没有改善，那么当月加息的大门就敞开了，劳动力参与率，”他补充道。</blockquote></p><p> A number of strategists noted the trading activity in recent sessions and weeks has reflected the market pricing of a more hawkish Fed. Software and other growth names were some of the biggest laggards in the major indexes during Tuesday's session.</p><p><blockquote>许多策略师指出，最近几个交易日和几周的交易活动反映了市场对美联储更加鹰派的定价。周二交易中，软件和其他成长型股票是主要股指中表现最差的股票之一。</blockquote></p><p> \"When you have an anticipation of higher interest rates, growth stocks or long-duration growth stocks certainly get hit the hardest,\" Art Hogan, national chief market strategist, told Yahoo Finance Live on Tuesday. \"When you do that net present value calculation with a higher interest rate, that implied multiple or ascribed multiple to growth names comes in. So a lot of that's been priced in. When you think about some of those real growth-y names and momentum names and risk assets, they've seen a lot of carnage.\"</p><p><blockquote>全国首席市场策略师阿特·霍根周二对雅虎财经直播表示：“当你预期利率上升时，成长型股票或长期成长型股票肯定会受到最严重的打击。”“当你用较高的利率进行净现值计算时，成长型公司的隐含倍数或归属倍数就会出现。所以很多都已经被定价了。当你想到一些真正的成长型公司和动量型公司时名字和风险资产，他们已经看到了很多屠杀。”</blockquote></p><p> \"What the market is trying to tell us here is that when you set your asset allocation plan for next year, you want to have a barbell approach with growth on one side — you want to have those growth names that are actually valued at a multiple to earnings, not a multiple to revenues or a multiple to cash flows or a multiple to sales,\" he added. \"We anticipate 2022 is going to be very much like 2021, where you really want to have a balance between growth and value.\"</p><p><blockquote>“市场在这里试图告诉我们的是，当你制定明年的资产配置计划时，你希望采用杠铃法，一方面是增长——你希望那些实际估值为收益倍数的增长名称，而不是收入的倍数、现金流的倍数或销售额的倍数，”他补充道。“我们预计2022年将与2021年非常相似，您确实希望在增长和价值之间取得平衡。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153017502","content_text":"U.S. stock market kicks off lackluster start on Fed decision day,Nasdaq Composite off less than 0.1%,S&P 500 gains 0.1%; Dow trades flat but hanging around a gain of 0.1%.\nAll eyes on Wednesday will be on the Federal Reserve's monetary policy statement and press conference by Federal Reserve Chair Jerome Powell. Many market participants expect these will set the stage for the Fed to speed the withdrawal of its crisis-era stimulus programs, with the firming economic recovery and soaring inflation suggesting the central bank has room for a more hawkish tilt to policy. Last week's Consumer Price Index showed thefastest surge in U.S. consumer prices since 1982on a year-over-year basis in November. And on Tuesday, the U.S. Producer Price Index jumped by the most on record at a 9.6% year-over-year increase for last month.\nSpecifically, many investors anticipate the Fed will ramp up the rate of tapering of its asset-purchasing program, which took place at a rate of $120 billion per month in combined Treasuries and agency mortgage-backed securities from the start of the pandemic through November. Last month, the Fed began dialing back these purchases by $15 billion, and announced another $15 billion reduction for December.\n\"We don't think that the Fed is really going to have any surprises for the markets [Wednesday]. They're probably going to announce that they're going to ... accelerate tapering, and that they'll probably finish that by March. But we think that they're going to leave themselves lots flexibility around raising interest rates,\" Tracie McMillion, Wells Fargo Investment Institute head of global asset allocation strategy,told Yahoo Finance Live on Tuesday.She added she expects just one interest rate hike from the Federal Reserve in the second half of next year.\nOther pundits, however, expect an earlier liftoff on interest rates, which maybe be reflected in the Federal Open Market Committee's (FOMC) updated Summary of Economic Projections on Wednesday.\n\"The announcement of faster tapering after today's FOMC meeting is a done deal; we'd be astonished by anything other than a plan to complete asset purchases by the end of March at the latest,\" wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a note on Tuesday. He expects the Fed to stick to its prior plan of purchasing $90 billion in its asset-purchase program this month, before doubling the rate of tapering from its current $15 billion per month starting in January.\n\"That would mean purchases drop to $60 billion in January, $30 billion in February, and zero in March, leaving the door open to a rate hike that month if the inflation outlook has not improved, via a clear and sustained increase in the labor force participation rate,\" he added.\nA number of strategists noted the trading activity in recent sessions and weeks has reflected the market pricing of a more hawkish Fed. Software and other growth names were some of the biggest laggards in the major indexes during Tuesday's session.\n\"When you have an anticipation of higher interest rates, growth stocks or long-duration growth stocks certainly get hit the hardest,\" Art Hogan, national chief market strategist, told Yahoo Finance Live on Tuesday. \"When you do that net present value calculation with a higher interest rate, that implied multiple or ascribed multiple to growth names comes in. So a lot of that's been priced in. When you think about some of those real growth-y names and momentum names and risk assets, they've seen a lot of carnage.\"\n\"What the market is trying to tell us here is that when you set your asset allocation plan for next year, you want to have a barbell approach with growth on one side — you want to have those growth names that are actually valued at a multiple to earnings, not a multiple to revenues or a multiple to cash flows or a multiple to sales,\" he added. \"We anticipate 2022 is going to be very much like 2021, where you really want to have a balance between growth and value.\"","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3554,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604791312,"gmtCreate":1639444078683,"gmtModify":1639444079129,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/604791312","repostId":"1113010542","repostType":4,"repost":{"id":"1113010542","kind":"news","pubTimestamp":1639442922,"share":"https://www.laohu8.com/m/news/1113010542?lang=zh_CN&edition=full","pubTime":"2021-12-14 08:48","market":"us","language":"en","title":"AAPL Stock Price Predictions: Why One Analyst Just Set a Street-High Target for Apple<blockquote>苹果公司股价预测：为什么一位分析师刚刚为苹果设定了华尔街高点目标</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1113010542","media":"investor place","summary":"Tech titan Apple (NASDAQ:AAPL) has reason for celebration today after investment bank J.P. Morgan up","content":"<p><div> Tech titan Apple (NASDAQ:AAPL) has reason for celebration today after investment bank J.P. Morgan upgraded its outlook on the company. Analysts at the bank raised the price target of AAPL stock to $...</p><p><blockquote><div>投资银行摩根大通上调了科技巨头苹果（纳斯达克股票代码：AAPL）的前景后，今天有理由庆祝。该银行分析师将AAPL股票的目标价上调至美元...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/aapl-stock-price-predictions-why-one-analyst-just-set-a-street-high-target-for-apple/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/aapl-stock-price-predictions-why-one-analyst-just-set-a-street-high-target-for-apple/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AAPL Stock Price Predictions: Why One Analyst Just Set a Street-High Target for Apple<blockquote>苹果公司股价预测：为什么一位分析师刚刚为苹果设定了华尔街高点目标</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAAPL Stock Price Predictions: Why One Analyst Just Set a Street-High Target for Apple<blockquote>苹果公司股价预测：为什么一位分析师刚刚为苹果设定了华尔街高点目标</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investor place</strong><span class=\"h-time small\">2021-12-14 08:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Tech titan Apple (NASDAQ:AAPL) has reason for celebration today after investment bank J.P. Morgan upgraded its outlook on the company. Analysts at the bank raised the price target of AAPL stock to $...</p><p><blockquote><div>投资银行摩根大通上调了科技巨头苹果（纳斯达克股票代码：AAPL）的前景后，今天有理由庆祝。该银行分析师将AAPL股票的目标价上调至美元...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/aapl-stock-price-predictions-why-one-analyst-just-set-a-street-high-target-for-apple/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/aapl-stock-price-predictions-why-one-analyst-just-set-a-street-high-target-for-apple/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/12/aapl-stock-price-predictions-why-one-analyst-just-set-a-street-high-target-for-apple/\">investor place</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://investorplace.com/2021/12/aapl-stock-price-predictions-why-one-analyst-just-set-a-street-high-target-for-apple/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113010542","content_text":"Tech titan Apple (NASDAQ:AAPL) has reason for celebration today after investment bank J.P. Morgan upgraded its outlook on the company. Analysts at the bank raised the price target of AAPL stock to $210 from its previous $180 target. J.P. Morgan isn’t the only one making bullish claims for Apple as of late, either. Morgan Stanley followed suit earlier this month, raising its price target to $200 per share. With that said, let’s take a look at other AAPL stock price predictions.\nApple is apparently developing two new projects that have markets talking: autonomous vehicles and virtual reality (VR). These are a big part of Morgan Stanley’s renewed confidence in the company. Reasonably so.\n\nMorgan Stanley analysts spoke to more than 40 venture capitalists, who emphasized the impact Apple has on product adoption. Areas like VR are still functionally in their infancy. A premium, vertically integrated brand like Apple vouching for its legitimacy could bolster overall interest dramatically.\n\nThere has also been a change of fortune as it pertains to the iPhone 13. While it largely underperformed early in the year, sales can be expected to rebound amid news of lessening supply constraints. J.P. Morgan also cited the launch of a new 5G iPhone SE, which some predict will launch early next year.\n\nThere’s plenty to write home about for Apple fans around the world. With Apple currently sitting at $175.57, what do the experts think about Apple’s upside potential? Let’s take a look.\n\nAAPL Stock Price Predictions: How High Can Apple Climb?\nAccording to CNN Business, Apple is just about where it should be. Based on the 12-month forecast of 37 analysts, the median price target is $175.\nWalletInvestor sees Apple moving up in the immediate, short and long terms. It has a two-week target of $191.22, a one-year forecast of $219.17 and a five-year prediction of $387.52. Indeed, the platform is indisputably bullish on the company.\nGov Capital has even higher expectations for AAPL. It set a one-year forecast of $259.94 and a five-year forecast of $726.04","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2975,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605227553,"gmtCreate":1639183419930,"gmtModify":1639183420368,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605227553","repostId":"2190296066","repostType":4,"isVote":1,"tweetType":1,"viewCount":4091,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605024406,"gmtCreate":1639095447402,"gmtModify":1639095447828,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"haha","listText":"haha","text":"haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605024406","repostId":"1113743057","repostType":4,"isVote":1,"tweetType":1,"viewCount":2843,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602844964,"gmtCreate":1639010019005,"gmtModify":1639010019436,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/602844964","repostId":"2190693698","repostType":4,"isVote":1,"tweetType":1,"viewCount":3313,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606131290,"gmtCreate":1638841238740,"gmtModify":1638841340439,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/606131290","repostId":"1185587293","repostType":4,"repost":{"id":"1185587293","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1638840303,"share":"https://www.laohu8.com/m/news/1185587293?lang=zh_CN&edition=full","pubTime":"2021-12-07 09:25","market":"hk","language":"en","title":"Alibaba shares rose 8.25% in Hong Kong market<blockquote>阿里巴巴-SW股价在香港市场上涨8.25%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185587293","media":"Tiger Newspress","summary":"Alibaba shares rose 8.25% in Hong Kong market as the stock rose 10.4% in US market.","content":"<p>Alibaba&nbsp;shares&nbsp;rose&nbsp;8.25%&nbsp;in&nbsp;Hong&nbsp;Kong&nbsp;market&nbsp;as&nbsp;the&nbsp;stock&nbsp;rose&nbsp;10.4%&nbsp;in&nbsp;US&nbsp;market.<img src=\"https://static.tigerbbs.com/e9062405760a61371ddc11ee9b5f5cb6\" tg-width=\"717\" tg-height=\"612\" referrerpolicy=\"no-referrer\"></p><p><blockquote>阿里巴巴-SW股价在香港市场上涨8.25%，在美国市场上涨10.4%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba shares rose 8.25% in Hong Kong market<blockquote>阿里巴巴-SW股价在香港市场上涨8.25%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ 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}\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba shares rose 8.25% in Hong Kong market<blockquote>阿里巴巴-SW股价在香港市场上涨8.25%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-07 09:25</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Alibaba&nbsp;shares&nbsp;rose&nbsp;8.25%&nbsp;in&nbsp;Hong&nbsp;Kong&nbsp;market&nbsp;as&nbsp;the&nbsp;stock&nbsp;rose&nbsp;10.4%&nbsp;in&nbsp;US&nbsp;market.<img src=\"https://static.tigerbbs.com/e9062405760a61371ddc11ee9b5f5cb6\" tg-width=\"717\" tg-height=\"612\" referrerpolicy=\"no-referrer\"></p><p><blockquote>阿里巴巴-SW股价在香港市场上涨8.25%，在美国市场上涨10.4%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185587293","content_text":"Alibaba shares rose 8.25% in Hong Kong market as the stock rose 10.4% in US market.","news_type":1,"symbols_score_info":{"BABA":0.9,"09988":0.9}},"isVote":1,"tweetType":1,"viewCount":797,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608665485,"gmtCreate":1638716777259,"gmtModify":1638716777448,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/608665485","repostId":"2188057871","repostType":4,"isVote":1,"tweetType":1,"viewCount":905,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601334132,"gmtCreate":1638490611323,"gmtModify":1638490611526,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/601334132","repostId":"1115734787","repostType":4,"isVote":1,"tweetType":1,"viewCount":704,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":603636228,"gmtCreate":1638404268466,"gmtModify":1638404269108,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"great","listText":"great","text":"great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603636228","repostId":"2188949564","repostType":4,"isVote":1,"tweetType":1,"viewCount":1057,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":609940359,"gmtCreate":1638234201013,"gmtModify":1638234201686,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/609940359","repostId":"2187306464","repostType":4,"isVote":1,"tweetType":1,"viewCount":1157,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600634334,"gmtCreate":1638145876424,"gmtModify":1638145876615,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600634334","repostId":"1147238879","repostType":4,"repost":{"id":"1147238879","kind":"news","pubTimestamp":1638145523,"share":"https://www.laohu8.com/m/news/1147238879?lang=zh_CN&edition=full","pubTime":"2021-11-29 08:25","market":"us","language":"en","title":"Amazon Dominates Holiday Price War, Causes Retail Ripple Effect<blockquote>亚马逊主导假日价格战引发零售连锁反应</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147238879","media":"Benzinga","summary":"The holiday shopping season is in full swing, although many customers are finding  higher prices on ","content":"<p><div> The holiday shopping season is in full swing, although many customers are finding  higher prices on products in the market. They're also witnessing an ongoing price warbetween various retail giants. ...</p><p><blockquote><div>假日购物季正在如火如荼地进行，尽管许多顾客发现市场上的产品价格更高。他们也见证了各种零售巨头之间持续的价格战。...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/11/24321958/amazon-dominates-holiday-price-war-causes-retail-ripple-effect\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/11/24321958/amazon-dominates-holiday-price-war-causes-retail-ripple-effect\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon Dominates Holiday Price War, Causes Retail Ripple Effect<blockquote>亚马逊主导假日价格战引发零售连锁反应</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Dominates Holiday Price War, Causes Retail Ripple Effect<blockquote>亚马逊主导假日价格战引发零售连锁反应</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-11-29 08:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The holiday shopping season is in full swing, although many customers are finding  higher prices on products in the market. They're also witnessing an ongoing price warbetween various retail giants. ...</p><p><blockquote><div>假日购物季正在如火如荼地进行，尽管许多顾客发现市场上的产品价格更高。他们也见证了各种零售巨头之间持续的价格战。...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/11/24321958/amazon-dominates-holiday-price-war-causes-retail-ripple-effect\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/11/24321958/amazon-dominates-holiday-price-war-causes-retail-ripple-effect\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/11/24321958/amazon-dominates-holiday-price-war-causes-retail-ripple-effect\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.benzinga.com/news/21/11/24321958/amazon-dominates-holiday-price-war-causes-retail-ripple-effect","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147238879","content_text":"The holiday shopping season is in full swing, although many customers are finding  higher prices on products in the market. They're also witnessing an ongoing price warbetween various retail giants.\nAccording to the data analytics company Profitero,Amazon.com, Inc is the first retail firm to increase its prices.\nProfitero tracks almost 20,000 popular items in the online retailsector. It finds that Amazon’s prices on those products increased by 7.5 percent last month compared with October 2020.\nWalmart Inc’s prices grew by 3.1 percent during that period, and Target Corporation raised prices by 3.6 percent.\nHowever, even with the price increases on Amazon, Profitero found that Walmart’s prices on the 20,000 items are 4 percent higher than Amazon’s prices, and Target’s prices are 15 percent higher.\nAccording to Harvard Business School economist Albert Cavallo, Amazon plays a major role in influencing prices across the web.\n“Online competition is a force for price uniformity, and therefore also inflation equalization. And as retailers get better at bringing online pricing, with its frequent swings, to their physical stores, the Amazon Effect becomes an even greater force,” the Washington Post quoted Cavallo saying.\nRetailers are facing a post pandemic supply-chain crunch, affecting sellers worldwide, amplified by the domestic labor shortage and related costs.\nAmazon plans to spend $4 billion to attract seasonal workers in the fourth quarter, with the goal of hiring 15,000 workers during the busy holiday period.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":939,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600324043,"gmtCreate":1638071948377,"gmtModify":1638071948568,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"yalo","listText":"yalo","text":"yalo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600324043","repostId":"2186328507","repostType":4,"isVote":1,"tweetType":1,"viewCount":1020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600033135,"gmtCreate":1638000472902,"gmtModify":1638000473093,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/600033135","repostId":"1137622508","repostType":4,"isVote":1,"tweetType":1,"viewCount":1063,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877105617,"gmtCreate":1637894379327,"gmtModify":1637894379515,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"lets see","listText":"lets see","text":"lets see","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877105617","repostId":"1143141710","repostType":4,"repost":{"id":"1143141710","kind":"news","pubTimestamp":1637893897,"share":"https://www.laohu8.com/m/news/1143141710?lang=zh_CN&edition=full","pubTime":"2021-11-26 10:31","market":"us","language":"en","title":"Is Starbucks Stock Overvalued Or Undervalued? Take A Long-Term View<blockquote>星巴克股票是高估还是低估？从长计议</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143141710","media":"Seeking Alpha","summary":"Summary\n\nStarbucks has been a compelling growth investment for many years. The company should contin","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Starbucks has been a compelling growth investment for many years. The company should continue to deliver solid growth rates in the future.</li>  <li>SBUX's outlook for 2022 did not meet market expectations, and higher labor costs and higher coffee prices could pressure margins in the near term.</li>  <li>Shares are not especially expensive, however, and SBUX should deliver solid returns in the coming years.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e006d80bb64b4caeaf652728d6d7810\" tg-width=\"1536\" tg-height=\"864\" width=\"100%\" height=\"auto\"><span>martinrlee/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>多年来，星巴克一直是一项引人注目的增长投资。该公司未来应该会继续实现稳健的增长率。</li><li>SBUX对2022年的展望没有达到市场预期，劳动力成本上升和咖啡价格上涨可能会在短期内给利润率带来压力。</li><li>然而，股价并不是特别昂贵，SBUX应该会在未来几年带来稳健的回报。</li></ul><p class=\"t-img-caption\"><span>martinrlee/iStock社论来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Starbucks Corporation (SBUX) is a leading global restaurant chain that has delivered compelling business growth for many years. In 2021, its shares have underperformed the broader market, as investors have not reacted very well to conservative guidance for 2022, while labor and supply chain headwinds are seen as potential issues as well. Nevertheless, I do believe that Starbucks Corporation will be able to deliver attractive business growth in the long run, and the current valuation doesn't look overly high, but it doesn't look especially low either.</p><p><blockquote>星巴克公司(SBUX)是一家领先的全球连锁餐厅，多年来实现了引人注目的业务增长。2021年，其股价表现逊于大盘，因为投资者对2022年的保守指引反应不佳，而劳动力和供应链逆风也被视为潜在问题。尽管如此，我确实相信星巴克公司从长远来看将能够实现有吸引力的业务增长，目前的估值看起来并不算太高，但看起来也不是特别低。</blockquote></p><p> <b>Starbucks Stock Price</b></p><p><blockquote><b>星巴克股价</b></blockquote></p><p> Today, Starbucks Corporation is trading at $114 per share. This is about 10% lower than the 52-week high of $126, and about 20% higher than the company's $96 52-week low. Compared to the broad market, Starbucks Corporation has underperformed this year:</p><p><blockquote>如今，星巴克公司的交易价格为每股114美元。这比126美元的52周高点低约10%，比该公司96美元的52周低点高约20%。与大盘相比，星巴克公司今年的表现不佳：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78400e2d9a077129cb0b1d4635afa736\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> The company performed relatively in line with the broad market through July, but since then, market enthusiasm for SBUX has seemingly waned, and the company has been moving sideways or down over the last couple of months, while the broader market has rallied to new all-time highs in the same time frame. This has, of course, made SBUX more attractive on a relative basis from a valuation perspective, as its shares have not gotten more expensive in the recent past. Analysts believe that SBUX is moderately underpriced today, as the consensus price target of $122 implies a high-single-digit upside potential over the next twelve months.</p><p><blockquote>该公司在7月份的表现与大盘相对一致，但此后，市场对SBUX的热情似乎有所减弱，该公司在过去几个月一直横盘整理或下跌，而大盘则反弹至新的水平。同一时间范围内的历史高点。当然，从估值角度来看，这使得SBUX相对更具吸引力，因为其股价最近并没有变得更贵。分析师认为，SBUX今天的价格被适度低估，因为122美元的共识目标价意味着未来12个月具有高个位数的上涨潜力。</blockquote></p><p> <b>Starbucks Has Attractive Growth Opportunities</b></p><p><blockquote><b>星巴克拥有诱人的增长机会</b></blockquote></p><p> Starbucks Corporation has been seen as a higher-growth restaurant player for many years, and rightfully so. Through opening new properties around the globe, the company has grown its footprint meaningfully over the years, while comparable sales growth has been a highly important factor for the company's business growth as well.</p><p><blockquote>多年来，星巴克公司一直被视为高增长的餐厅企业，这是理所当然的。通过在全球开设新物业，该公司多年来显着扩大了其足迹，而可比销售增长也是该公司业务增长的一个非常重要的因素。</blockquote></p><p> Starbucks' customers are not very price-sensitive, which is why price increases could be&nbsp;pushed through&nbsp;without any major negative consequences in the past. At the same time, Starbucks Corporation has, with its app and loyalty program, managed to enhance the loyalty of its customers over the years, thereby \"locking in\" many consumers into its ecosystem. Since Starbucks' products remain highly sought-after, and with Starbucks&nbsp;scoring well&nbsp;among the favorite brands of Generation Z and Millenials, it looks like Starbucks will be able to capture an attractive, and possibly growing, market share in the future, too -- at least as long as its brand remains strong and as long as the company remains well-connected to its customers base.</p><p><blockquote>星巴克的顾客对价格不是很敏感，这就是为什么过去可以在没有任何重大负面后果的情况下推动价格上涨。与此同时，星巴克公司凭借其应用程序和忠诚度计划，多年来成功提高了顾客的忠诚度，从而将许多消费者“锁定”到其生态系统中。由于星巴克的产品仍然很受欢迎，而且星巴克在Z世代和千禧一代最喜欢的品牌中得分很高，看起来星巴克未来也将能够占据有吸引力且可能不断增长的市场份额——至少只要其品牌保持强大并且只要该公司与其客户群保持良好的联系。</blockquote></p><p> Comparable store sales growth has also remained healthy during the pandemic -- during the fourth quarter of the current year, SBUX managed to grow its comps sales by 17%, and by a very strong 22% in the US. Starbucks has been a compelling growth investment for many years. The company should continue to deliver solid growth rates in the future. If the company can keep this growth rate in place, while combining it with additional store openings, there should be little concern that Starbucks' revenue growth will flat-line in the foreseeable future. Starbucks has a store count of around 33,000 today, which is significantly below the store count of McDonald's (MCD), at 39,000. Since grabbing a coffee on the go is easier than grabbing a burger, and since more people seem to have health concerns when it comes to McDonald's offerings compared to those of Starbucks, it seems possible that Starbucks' store count will eventually surpass that of McDonald's. In the long run, significant business growth opportunities do thus exist for Starbucks, not only through comps sales growth but also through the expansion of its store count.</p><p><blockquote>在疫情期间，可比商店销售额增长也保持健康——今年第四季度，SBUX的同店销售额增长了17%，在美国增长了22%。多年来，星巴克一直是一项引人注目的增长投资。该公司未来应该会继续实现稳健的增长率。如果该公司能够保持这一增长率，同时将其与额外开店相结合，那么在可预见的未来，星巴克的收入增长将持平，这一点应该很少有人担心。星巴克目前拥有约33,000家门店，远低于麦当劳(MCD)的39,000家门店数量。由于在旅途中喝咖啡比吃汉堡更容易，而且与星巴克相比，更多的人似乎对麦当劳的产品有健康担忧，因此星巴克的门店数量最终可能会超过麦当劳。从长远来看，星巴克确实存在巨大的业务增长机会，不仅通过comps销售增长，还通过门店数量的扩张。</blockquote></p><p> Management&nbsp;states&nbsp;(page 7) that these factors will be key growth drivers in the future, too:</p><p><blockquote>管理层表示（第7页），这些因素也将成为未来的关键增长动力：</blockquote></p><p></p><p>   <i>The company's financial results and long-term growth model will continue to be driven by new store openings, comparable store sales and operating margin management. These key operating metrics are important indicators for the growth of the business and the effectiveness of the company's marketing and operational strategies.</i>  When it comes to Starbucks Corporation's future earnings per share growth rate, which is one of the most important metrics for shareholders, another impactful item is the change in the company's share count. Starbucks has regularly been repurchasing its common stock for many years:</p><p><blockquote><i>公司的财务业绩和长期增长模式将继续受到新店开业、可比门店销售额和营业利润率管理的推动。这些关键运营指标是业务增长以及公司营销和运营战略有效性的重要指标。</i>当谈到星巴克公司未来的每股收益增长率（这是股东最重要的指标之一）时，另一个有影响的项目是公司股票数量的变化。星巴克多年来一直定期回购其普通股：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fcd9d5e7a53c0bd09a0463e6ff1c9969\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> The company plans to do the same going forward, as Starbucks has recently committed to a new $20 billion shareholder return plan over the next three years. This will include both dividends and share repurchases, but with the dividend costing the company just $2 billion a year, or $6 billion over three years, it seems pretty clear that management will focus on share repurchases. $14 billion in buybacks in fiscal 2022 to fiscal 2024 would equate to 11% of the company's shares being bought back in that time frame (at current prices), or close to 4% a year. This alone will result in mid-single-digit earnings per share growth, even if Starbucks would not grow its company-wide profits at all. Since profit growth can be expected, however, it is not a large surprise to see that analysts are forecasting attractive earnings per share growth in the coming years:</p><p><blockquote>该公司计划在未来采取同样的做法，因为星巴克最近承诺在未来三年内实施一项新的200亿美元股东回报计划。这将包括股息和股票回购，但由于股息每年仅花费公司20亿美元，即三年内花费60亿美元，因此管理层显然将专注于股票回购。2022财年至2024财年140亿美元的回购将相当于该时间范围内回购的公司股票的11%（按当前价格计算），或每年接近4%。即使星巴克的全公司利润根本不会增长，仅此一项就将导致每股收益中个位数的增长。然而，由于利润增长是可以预期的，因此分析师预测未来几年每股收益将出现有吸引力的增长也就不足为奇了：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c4e3bee4cf6829afa81e93314e9f4703\" tg-width=\"640\" tg-height=\"130\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Starbucks is forecasted to grow its earnings per share at a mid-teens rate in 2023 and 2024, following a solid, but not spectacular 6% increase during the current fiscal year. Beyond 2024, analyst estimates for SBUX's earnings per share growth are high as well, but due to a lower number of analysts having published estimates for those years, these estimates might be less precise.</p><p><blockquote>星巴克的每股收益预计将在2023年和2024年以十几岁左右的速度增长，此前本财年增长了6%，但并不引人注目。2024年以后，分析师对SBUX每股收益增长的预测也很高，但由于这些年发布预测的分析师数量较少，这些预测可能不太准确。</blockquote></p><p> <b>Is Starbucks Stock Overvalued?</b></p><p><blockquote><b>星巴克股票是否被高估？</b></blockquote></p><p> At 33x this year's earnings, Starbucks is not an inexpensive stock. On the other hand, we should also consider the company's growth track record, its compelling long-term growth potential, and its shareholder-friendly capital return policy. Factoring in these items, and considering that SBUX has a history of beating estimates (EPS came in&nbsp;ahead of expectations&nbsp;in eight out of the last eight quarters), which means that current EPS estimates might be too low, which would effectively mean that the actual valuation is lower, Starbucks does not look overpriced, I believe.</p><p><blockquote>星巴克今年的市盈率为33倍，并不是一只便宜的股票。另一方面，我们还应该考虑公司的增长记录、引人注目的长期增长潜力以及对股东友好的资本回报政策。考虑到这些项目，并考虑到SBUX有超出预期的历史（过去八个季度中有八个季度每股收益超出预期），这意味着当前的每股收益预期可能太低，这实际上意味着实际估值较低，我相信星巴克看起来并没有定价过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc87daeca8809cd26ce7335c4ae81193\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Starbucks' current earnings multiple, based on forecasts for the current year, is relatively in-line with how SBUX was valued in the past. I thus do believe that Starbucks is neither meaningfully overvalued nor meaningfully undervalued at current prices. Instead, it looks like SBUX is relatively fairly valued today, basically comparable to how the company's shares were valued in the past.</p><p><blockquote>根据今年的预测，星巴克目前的市盈率与SBUX过去的估值相对一致。因此，我确实相信，以当前价格计算，星巴克的估值既没有被严重高估，也没有被严重低估。相反，SBUX目前的估值似乎相对公平，基本上与该公司股票过去的估值相当。</blockquote></p><p> <b>Is SBUX Stock A Buy, Sell, Or Hold?</b></p><p><blockquote><b>SBUX股票是买入、卖出还是持有？</b></blockquote></p><p> Following the Q4 earnings release, shares dipped to just above $100 per share -- in retrospect, that would have been a nice time to add shares. Unfortunately, this dip did not last very long, and SBUX quickly rose above $110 again. At the current price, SBUX seems relatively fairly valued. With the pandemic hopefully coming to an end in 2022, further reopening efforts could result in considerable business growth for Starbucks. At the same time, however, higher input costs due to bad weather in Brazil, which has led to higher coffee prices, could put some pressure on SBUX's margins in the near term. Higher labor expenses -- SBUX has&nbsp;decided to hike&nbsp;pay to at least $17 per hour next year -- also could result in margin headwinds.</p><p><blockquote>第四季度财报发布后，股价跌至每股略高于100美元——回想起来，这本来是增持股票的好时机。不幸的是，这种下跌并没有持续很长时间，SBUX很快再次升至110美元上方。按照目前的价格，SBUX的估值似乎相对合理。随着疫情有望在2022年结束，进一步的重新开业努力可能会为星巴克带来可观的业务增长。但与此同时，巴西恶劣天气导致投入成本上升，导致咖啡价格上涨，可能会在短期内给SBUX的利润率带来一定压力。更高的劳动力成本——SBUX已决定明年将工资提高到每小时至少17美元——也可能导致利润率下降。</blockquote></p><p> Overall, there are thus positives and negatives in the foreseeable future. When we also account for the fact that SBUX is neither trading at a historically expensive valuation, nor at a historically low valuation, it looks to me like Starbucks is a very solid&nbsp;<b><i>Hold</i></b>&nbsp;at slightly above $110. Shares are not inexpensive enough to make them an outright buy right here, but shares are also, by far, not expensive enough to justify selling in order to lock in gains.</p><p><blockquote>总的来说，在可预见的未来，既有积极的一面，也有消极的一面。当我们还考虑到SBUX的估值既不是历史上昂贵的估值，也不是历史上较低的估值这一事实时，在我看来星巴克是一家非常稳健的公司<b><i>抓住</i></b>略高于110美元。股票还没有便宜到足以让他们在这里直接买入，但到目前为止，股票也没有贵到足以证明为了锁定收益而卖出是合理的。</blockquote></p><p> From the current level, Starbucks should generate solid, but not necessarily overly attractive total returns over the coming years. If Starbucks dips to the $100 area again, I would be inclined to enter a position in that price range.</p><p><blockquote>从目前的水平来看，星巴克在未来几年应该会产生稳健但不一定过于有吸引力的总回报。如果星巴克再次跌至100美元区域，我将倾向于在该价格范围内建仓。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Starbucks Stock Overvalued Or Undervalued? Take A Long-Term View<blockquote>星巴克股票是高估还是低估？从长计议</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Starbucks Stock Overvalued Or Undervalued? Take A Long-Term View<blockquote>星巴克股票是高估还是低估？从长计议</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-11-26 10:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Starbucks has been a compelling growth investment for many years. The company should continue to deliver solid growth rates in the future.</li>  <li>SBUX's outlook for 2022 did not meet market expectations, and higher labor costs and higher coffee prices could pressure margins in the near term.</li>  <li>Shares are not especially expensive, however, and SBUX should deliver solid returns in the coming years.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e006d80bb64b4caeaf652728d6d7810\" tg-width=\"1536\" tg-height=\"864\" width=\"100%\" height=\"auto\"><span>martinrlee/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>多年来，星巴克一直是一项引人注目的增长投资。该公司未来应该会继续实现稳健的增长率。</li><li>SBUX对2022年的展望没有达到市场预期，劳动力成本上升和咖啡价格上涨可能会在短期内给利润率带来压力。</li><li>然而，股价并不是特别昂贵，SBUX应该会在未来几年带来稳健的回报。</li></ul><p class=\"t-img-caption\"><span>martinrlee/iStock社论来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Starbucks Corporation (SBUX) is a leading global restaurant chain that has delivered compelling business growth for many years. In 2021, its shares have underperformed the broader market, as investors have not reacted very well to conservative guidance for 2022, while labor and supply chain headwinds are seen as potential issues as well. Nevertheless, I do believe that Starbucks Corporation will be able to deliver attractive business growth in the long run, and the current valuation doesn't look overly high, but it doesn't look especially low either.</p><p><blockquote>星巴克公司(SBUX)是一家领先的全球连锁餐厅，多年来实现了引人注目的业务增长。2021年，其股价表现逊于大盘，因为投资者对2022年的保守指引反应不佳，而劳动力和供应链逆风也被视为潜在问题。尽管如此，我确实相信星巴克公司从长远来看将能够实现有吸引力的业务增长，目前的估值看起来并不算太高，但看起来也不是特别低。</blockquote></p><p> <b>Starbucks Stock Price</b></p><p><blockquote><b>星巴克股价</b></blockquote></p><p> Today, Starbucks Corporation is trading at $114 per share. This is about 10% lower than the 52-week high of $126, and about 20% higher than the company's $96 52-week low. Compared to the broad market, Starbucks Corporation has underperformed this year:</p><p><blockquote>如今，星巴克公司的交易价格为每股114美元。这比126美元的52周高点低约10%，比该公司96美元的52周低点高约20%。与大盘相比，星巴克公司今年的表现不佳：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78400e2d9a077129cb0b1d4635afa736\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> The company performed relatively in line with the broad market through July, but since then, market enthusiasm for SBUX has seemingly waned, and the company has been moving sideways or down over the last couple of months, while the broader market has rallied to new all-time highs in the same time frame. This has, of course, made SBUX more attractive on a relative basis from a valuation perspective, as its shares have not gotten more expensive in the recent past. Analysts believe that SBUX is moderately underpriced today, as the consensus price target of $122 implies a high-single-digit upside potential over the next twelve months.</p><p><blockquote>该公司在7月份的表现与大盘相对一致，但此后，市场对SBUX的热情似乎有所减弱，该公司在过去几个月一直横盘整理或下跌，而大盘则反弹至新的水平。同一时间范围内的历史高点。当然，从估值角度来看，这使得SBUX相对更具吸引力，因为其股价最近并没有变得更贵。分析师认为，SBUX今天的价格被适度低估，因为122美元的共识目标价意味着未来12个月具有高个位数的上涨潜力。</blockquote></p><p> <b>Starbucks Has Attractive Growth Opportunities</b></p><p><blockquote><b>星巴克拥有诱人的增长机会</b></blockquote></p><p> Starbucks Corporation has been seen as a higher-growth restaurant player for many years, and rightfully so. Through opening new properties around the globe, the company has grown its footprint meaningfully over the years, while comparable sales growth has been a highly important factor for the company's business growth as well.</p><p><blockquote>多年来，星巴克公司一直被视为高增长的餐厅企业，这是理所当然的。通过在全球开设新物业，该公司多年来显着扩大了其足迹，而可比销售增长也是该公司业务增长的一个非常重要的因素。</blockquote></p><p> Starbucks' customers are not very price-sensitive, which is why price increases could be&nbsp;pushed through&nbsp;without any major negative consequences in the past. At the same time, Starbucks Corporation has, with its app and loyalty program, managed to enhance the loyalty of its customers over the years, thereby \"locking in\" many consumers into its ecosystem. Since Starbucks' products remain highly sought-after, and with Starbucks&nbsp;scoring well&nbsp;among the favorite brands of Generation Z and Millenials, it looks like Starbucks will be able to capture an attractive, and possibly growing, market share in the future, too -- at least as long as its brand remains strong and as long as the company remains well-connected to its customers base.</p><p><blockquote>星巴克的顾客对价格不是很敏感，这就是为什么过去可以在没有任何重大负面后果的情况下推动价格上涨。与此同时，星巴克公司凭借其应用程序和忠诚度计划，多年来成功提高了顾客的忠诚度，从而将许多消费者“锁定”到其生态系统中。由于星巴克的产品仍然很受欢迎，而且星巴克在Z世代和千禧一代最喜欢的品牌中得分很高，看起来星巴克未来也将能够占据有吸引力且可能不断增长的市场份额——至少只要其品牌保持强大并且只要该公司与其客户群保持良好的联系。</blockquote></p><p> Comparable store sales growth has also remained healthy during the pandemic -- during the fourth quarter of the current year, SBUX managed to grow its comps sales by 17%, and by a very strong 22% in the US. Starbucks has been a compelling growth investment for many years. The company should continue to deliver solid growth rates in the future. If the company can keep this growth rate in place, while combining it with additional store openings, there should be little concern that Starbucks' revenue growth will flat-line in the foreseeable future. Starbucks has a store count of around 33,000 today, which is significantly below the store count of McDonald's (MCD), at 39,000. Since grabbing a coffee on the go is easier than grabbing a burger, and since more people seem to have health concerns when it comes to McDonald's offerings compared to those of Starbucks, it seems possible that Starbucks' store count will eventually surpass that of McDonald's. In the long run, significant business growth opportunities do thus exist for Starbucks, not only through comps sales growth but also through the expansion of its store count.</p><p><blockquote>在疫情期间，可比商店销售额增长也保持健康——今年第四季度，SBUX的同店销售额增长了17%，在美国增长了22%。多年来，星巴克一直是一项引人注目的增长投资。该公司未来应该会继续实现稳健的增长率。如果该公司能够保持这一增长率，同时将其与额外开店相结合，那么在可预见的未来，星巴克的收入增长将持平，这一点应该很少有人担心。星巴克目前拥有约33,000家门店，远低于麦当劳(MCD)的39,000家门店数量。由于在旅途中喝咖啡比吃汉堡更容易，而且与星巴克相比，更多的人似乎对麦当劳的产品有健康担忧，因此星巴克的门店数量最终可能会超过麦当劳。从长远来看，星巴克确实存在巨大的业务增长机会，不仅通过comps销售增长，还通过门店数量的扩张。</blockquote></p><p> Management&nbsp;states&nbsp;(page 7) that these factors will be key growth drivers in the future, too:</p><p><blockquote>管理层表示（第7页），这些因素也将成为未来的关键增长动力：</blockquote></p><p></p><p>   <i>The company's financial results and long-term growth model will continue to be driven by new store openings, comparable store sales and operating margin management. These key operating metrics are important indicators for the growth of the business and the effectiveness of the company's marketing and operational strategies.</i>  When it comes to Starbucks Corporation's future earnings per share growth rate, which is one of the most important metrics for shareholders, another impactful item is the change in the company's share count. Starbucks has regularly been repurchasing its common stock for many years:</p><p><blockquote><i>公司的财务业绩和长期增长模式将继续受到新店开业、可比门店销售额和营业利润率管理的推动。这些关键运营指标是业务增长以及公司营销和运营战略有效性的重要指标。</i>当谈到星巴克公司未来的每股收益增长率（这是股东最重要的指标之一）时，另一个有影响的项目是公司股票数量的变化。星巴克多年来一直定期回购其普通股：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fcd9d5e7a53c0bd09a0463e6ff1c9969\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> The company plans to do the same going forward, as Starbucks has recently committed to a new $20 billion shareholder return plan over the next three years. This will include both dividends and share repurchases, but with the dividend costing the company just $2 billion a year, or $6 billion over three years, it seems pretty clear that management will focus on share repurchases. $14 billion in buybacks in fiscal 2022 to fiscal 2024 would equate to 11% of the company's shares being bought back in that time frame (at current prices), or close to 4% a year. This alone will result in mid-single-digit earnings per share growth, even if Starbucks would not grow its company-wide profits at all. Since profit growth can be expected, however, it is not a large surprise to see that analysts are forecasting attractive earnings per share growth in the coming years:</p><p><blockquote>该公司计划在未来采取同样的做法，因为星巴克最近承诺在未来三年内实施一项新的200亿美元股东回报计划。这将包括股息和股票回购，但由于股息每年仅花费公司20亿美元，即三年内花费60亿美元，因此管理层显然将专注于股票回购。2022财年至2024财年140亿美元的回购将相当于该时间范围内回购的公司股票的11%（按当前价格计算），或每年接近4%。即使星巴克的全公司利润根本不会增长，仅此一项就将导致每股收益中个位数的增长。然而，由于利润增长是可以预期的，因此分析师预测未来几年每股收益将出现有吸引力的增长也就不足为奇了：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c4e3bee4cf6829afa81e93314e9f4703\" tg-width=\"640\" tg-height=\"130\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Starbucks is forecasted to grow its earnings per share at a mid-teens rate in 2023 and 2024, following a solid, but not spectacular 6% increase during the current fiscal year. Beyond 2024, analyst estimates for SBUX's earnings per share growth are high as well, but due to a lower number of analysts having published estimates for those years, these estimates might be less precise.</p><p><blockquote>星巴克的每股收益预计将在2023年和2024年以十几岁左右的速度增长，此前本财年增长了6%，但并不引人注目。2024年以后，分析师对SBUX每股收益增长的预测也很高，但由于这些年发布预测的分析师数量较少，这些预测可能不太准确。</blockquote></p><p> <b>Is Starbucks Stock Overvalued?</b></p><p><blockquote><b>星巴克股票是否被高估？</b></blockquote></p><p> At 33x this year's earnings, Starbucks is not an inexpensive stock. On the other hand, we should also consider the company's growth track record, its compelling long-term growth potential, and its shareholder-friendly capital return policy. Factoring in these items, and considering that SBUX has a history of beating estimates (EPS came in&nbsp;ahead of expectations&nbsp;in eight out of the last eight quarters), which means that current EPS estimates might be too low, which would effectively mean that the actual valuation is lower, Starbucks does not look overpriced, I believe.</p><p><blockquote>星巴克今年的市盈率为33倍，并不是一只便宜的股票。另一方面，我们还应该考虑公司的增长记录、引人注目的长期增长潜力以及对股东友好的资本回报政策。考虑到这些项目，并考虑到SBUX有超出预期的历史（过去八个季度中有八个季度每股收益超出预期），这意味着当前的每股收益预期可能太低，这实际上意味着实际估值较低，我相信星巴克看起来并没有定价过高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc87daeca8809cd26ce7335c4ae81193\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Starbucks' current earnings multiple, based on forecasts for the current year, is relatively in-line with how SBUX was valued in the past. I thus do believe that Starbucks is neither meaningfully overvalued nor meaningfully undervalued at current prices. Instead, it looks like SBUX is relatively fairly valued today, basically comparable to how the company's shares were valued in the past.</p><p><blockquote>根据今年的预测，星巴克目前的市盈率与SBUX过去的估值相对一致。因此，我确实相信，以当前价格计算，星巴克的估值既没有被严重高估，也没有被严重低估。相反，SBUX目前的估值似乎相对公平，基本上与该公司股票过去的估值相当。</blockquote></p><p> <b>Is SBUX Stock A Buy, Sell, Or Hold?</b></p><p><blockquote><b>SBUX股票是买入、卖出还是持有？</b></blockquote></p><p> Following the Q4 earnings release, shares dipped to just above $100 per share -- in retrospect, that would have been a nice time to add shares. Unfortunately, this dip did not last very long, and SBUX quickly rose above $110 again. At the current price, SBUX seems relatively fairly valued. With the pandemic hopefully coming to an end in 2022, further reopening efforts could result in considerable business growth for Starbucks. At the same time, however, higher input costs due to bad weather in Brazil, which has led to higher coffee prices, could put some pressure on SBUX's margins in the near term. Higher labor expenses -- SBUX has&nbsp;decided to hike&nbsp;pay to at least $17 per hour next year -- also could result in margin headwinds.</p><p><blockquote>第四季度财报发布后，股价跌至每股略高于100美元——回想起来，这本来是增持股票的好时机。不幸的是，这种下跌并没有持续很长时间，SBUX很快再次升至110美元上方。按照目前的价格，SBUX的估值似乎相对合理。随着疫情有望在2022年结束，进一步的重新开业努力可能会为星巴克带来可观的业务增长。但与此同时，巴西恶劣天气导致投入成本上升，导致咖啡价格上涨，可能会在短期内给SBUX的利润率带来一定压力。更高的劳动力成本——SBUX已决定明年将工资提高到每小时至少17美元——也可能导致利润率下降。</blockquote></p><p> Overall, there are thus positives and negatives in the foreseeable future. When we also account for the fact that SBUX is neither trading at a historically expensive valuation, nor at a historically low valuation, it looks to me like Starbucks is a very solid&nbsp;<b><i>Hold</i></b>&nbsp;at slightly above $110. Shares are not inexpensive enough to make them an outright buy right here, but shares are also, by far, not expensive enough to justify selling in order to lock in gains.</p><p><blockquote>总的来说，在可预见的未来，既有积极的一面，也有消极的一面。当我们还考虑到SBUX的估值既不是历史上昂贵的估值，也不是历史上较低的估值这一事实时，在我看来星巴克是一家非常稳健的公司<b><i>抓住</i></b>略高于110美元。股票还没有便宜到足以让他们在这里直接买入，但到目前为止，股票也没有贵到足以证明为了锁定收益而卖出是合理的。</blockquote></p><p> From the current level, Starbucks should generate solid, but not necessarily overly attractive total returns over the coming years. If Starbucks dips to the $100 area again, I would be inclined to enter a position in that price range.</p><p><blockquote>从目前的水平来看，星巴克在未来几年应该会产生稳健但不一定过于有吸引力的总回报。如果星巴克再次跌至100美元区域，我将倾向于在该价格范围内建仓。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4471847-starbucks-stock-overvalued-undervalued\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SBUX":"星巴克"},"source_url":"https://seekingalpha.com/article/4471847-starbucks-stock-overvalued-undervalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143141710","content_text":"Summary\n\nStarbucks has been a compelling growth investment for many years. The company should continue to deliver solid growth rates in the future.\nSBUX's outlook for 2022 did not meet market expectations, and higher labor costs and higher coffee prices could pressure margins in the near term.\nShares are not especially expensive, however, and SBUX should deliver solid returns in the coming years.\n\nmartinrlee/iStock Editorial via Getty Images\nArticle Thesis\nStarbucks Corporation (SBUX) is a leading global restaurant chain that has delivered compelling business growth for many years. In 2021, its shares have underperformed the broader market, as investors have not reacted very well to conservative guidance for 2022, while labor and supply chain headwinds are seen as potential issues as well. Nevertheless, I do believe that Starbucks Corporation will be able to deliver attractive business growth in the long run, and the current valuation doesn't look overly high, but it doesn't look especially low either.\nStarbucks Stock Price\nToday, Starbucks Corporation is trading at $114 per share. This is about 10% lower than the 52-week high of $126, and about 20% higher than the company's $96 52-week low. Compared to the broad market, Starbucks Corporation has underperformed this year:\nData by YCharts\nThe company performed relatively in line with the broad market through July, but since then, market enthusiasm for SBUX has seemingly waned, and the company has been moving sideways or down over the last couple of months, while the broader market has rallied to new all-time highs in the same time frame. This has, of course, made SBUX more attractive on a relative basis from a valuation perspective, as its shares have not gotten more expensive in the recent past. Analysts believe that SBUX is moderately underpriced today, as the consensus price target of $122 implies a high-single-digit upside potential over the next twelve months.\nStarbucks Has Attractive Growth Opportunities\nStarbucks Corporation has been seen as a higher-growth restaurant player for many years, and rightfully so. Through opening new properties around the globe, the company has grown its footprint meaningfully over the years, while comparable sales growth has been a highly important factor for the company's business growth as well.\nStarbucks' customers are not very price-sensitive, which is why price increases could be pushed through without any major negative consequences in the past. At the same time, Starbucks Corporation has, with its app and loyalty program, managed to enhance the loyalty of its customers over the years, thereby \"locking in\" many consumers into its ecosystem. Since Starbucks' products remain highly sought-after, and with Starbucks scoring well among the favorite brands of Generation Z and Millenials, it looks like Starbucks will be able to capture an attractive, and possibly growing, market share in the future, too -- at least as long as its brand remains strong and as long as the company remains well-connected to its customers base.\nComparable store sales growth has also remained healthy during the pandemic -- during the fourth quarter of the current year, SBUX managed to grow its comps sales by 17%, and by a very strong 22% in the US. Starbucks has been a compelling growth investment for many years. The company should continue to deliver solid growth rates in the future. If the company can keep this growth rate in place, while combining it with additional store openings, there should be little concern that Starbucks' revenue growth will flat-line in the foreseeable future. Starbucks has a store count of around 33,000 today, which is significantly below the store count of McDonald's (MCD), at 39,000. Since grabbing a coffee on the go is easier than grabbing a burger, and since more people seem to have health concerns when it comes to McDonald's offerings compared to those of Starbucks, it seems possible that Starbucks' store count will eventually surpass that of McDonald's. In the long run, significant business growth opportunities do thus exist for Starbucks, not only through comps sales growth but also through the expansion of its store count.\nManagement states (page 7) that these factors will be key growth drivers in the future, too:\n\nThe company's financial results and long-term growth model will continue to be driven by new store openings, comparable store sales and operating margin management. These key operating metrics are important indicators for the growth of the business and the effectiveness of the company's marketing and operational strategies.\n\nWhen it comes to Starbucks Corporation's future earnings per share growth rate, which is one of the most important metrics for shareholders, another impactful item is the change in the company's share count. Starbucks has regularly been repurchasing its common stock for many years:\nData by YCharts\nThe company plans to do the same going forward, as Starbucks has recently committed to a new $20 billion shareholder return plan over the next three years. This will include both dividends and share repurchases, but with the dividend costing the company just $2 billion a year, or $6 billion over three years, it seems pretty clear that management will focus on share repurchases. $14 billion in buybacks in fiscal 2022 to fiscal 2024 would equate to 11% of the company's shares being bought back in that time frame (at current prices), or close to 4% a year. This alone will result in mid-single-digit earnings per share growth, even if Starbucks would not grow its company-wide profits at all. Since profit growth can be expected, however, it is not a large surprise to see that analysts are forecasting attractive earnings per share growth in the coming years:\nSource: Seeking Alpha\nStarbucks is forecasted to grow its earnings per share at a mid-teens rate in 2023 and 2024, following a solid, but not spectacular 6% increase during the current fiscal year. Beyond 2024, analyst estimates for SBUX's earnings per share growth are high as well, but due to a lower number of analysts having published estimates for those years, these estimates might be less precise.\nIs Starbucks Stock Overvalued?\nAt 33x this year's earnings, Starbucks is not an inexpensive stock. On the other hand, we should also consider the company's growth track record, its compelling long-term growth potential, and its shareholder-friendly capital return policy. Factoring in these items, and considering that SBUX has a history of beating estimates (EPS came in ahead of expectations in eight out of the last eight quarters), which means that current EPS estimates might be too low, which would effectively mean that the actual valuation is lower, Starbucks does not look overpriced, I believe.\nData by YCharts\nStarbucks' current earnings multiple, based on forecasts for the current year, is relatively in-line with how SBUX was valued in the past. I thus do believe that Starbucks is neither meaningfully overvalued nor meaningfully undervalued at current prices. Instead, it looks like SBUX is relatively fairly valued today, basically comparable to how the company's shares were valued in the past.\nIs SBUX Stock A Buy, Sell, Or Hold?\nFollowing the Q4 earnings release, shares dipped to just above $100 per share -- in retrospect, that would have been a nice time to add shares. Unfortunately, this dip did not last very long, and SBUX quickly rose above $110 again. At the current price, SBUX seems relatively fairly valued. With the pandemic hopefully coming to an end in 2022, further reopening efforts could result in considerable business growth for Starbucks. At the same time, however, higher input costs due to bad weather in Brazil, which has led to higher coffee prices, could put some pressure on SBUX's margins in the near term. Higher labor expenses -- SBUX has decided to hike pay to at least $17 per hour next year -- also could result in margin headwinds.\nOverall, there are thus positives and negatives in the foreseeable future. When we also account for the fact that SBUX is neither trading at a historically expensive valuation, nor at a historically low valuation, it looks to me like Starbucks is a very solid Hold at slightly above $110. Shares are not inexpensive enough to make them an outright buy right here, but shares are also, by far, not expensive enough to justify selling in order to lock in gains.\nFrom the current level, Starbucks should generate solid, but not necessarily overly attractive total returns over the coming years. If Starbucks dips to the $100 area again, I would be inclined to enter a position in that price range.","news_type":1,"symbols_score_info":{"SBUX":0.9}},"isVote":1,"tweetType":1,"viewCount":1283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":874518882,"gmtCreate":1637800792592,"gmtModify":1637800792763,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"whats next?","listText":"whats next?","text":"whats next?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/874518882","repostId":"1155346501","repostType":4,"isVote":1,"tweetType":1,"viewCount":1191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":827139715,"gmtCreate":1634431433264,"gmtModify":1634431433924,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/827139715","repostId":"1180900172","repostType":4,"repost":{"id":"1180900172","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1634309275,"share":"https://www.laohu8.com/m/news/1180900172?lang=zh_CN&edition=full","pubTime":"2021-10-15 22:47","market":"us","language":"en","title":"Amazon stock rose 1.5% in morning trading<blockquote>亚马逊股价早盘上涨1.5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180900172","media":"Tiger Newspress","summary":"Amazon stock rose 1.5% in morning trading after challenging record $865 million EU data-protection f","content":"<p>Amazon stock rose 1.5% in morning trading&nbsp;after&nbsp;challenging record $865 million EU data-protection fine.</p><p><blockquote>在挑战创纪录的8.65亿美元欧盟数据保护罚款后，亚马逊股价在早盘交易中上涨1.5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3a033875d6b1950d9ce2adfbd5b39d06\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Amazon.com Inc. appealed a record 746 million-euro ($865 million) penalty for allegedly violating the European Union’s tough data-protection rules.</p><p><blockquote>亚马逊公司因涉嫌违反欧盟严格的数据保护规则而被处以创纪录的7.46亿欧元（8.65亿美元）罚款提出上诉。</blockquote></p><p> The appeal was filed at the Luxembourg Administrative Tribunal on Friday, according to Luxembourg court spokesman Henri Eippers.</p><p><blockquote>据卢森堡法院发言人Henri Eippers称，上诉于周五提交给卢森堡行政法庭。</blockquote></p><p> The challenge comes after CNPD, Luxembourg’s data protection regulator, where Amazon has its EU base,slapped&nbsp;the U.S. tech giant with the fine in July.</p><p><blockquote>这一挑战是在亚马逊欧盟总部所在地卢森堡数据保护监管机构CNPD于7月份对这家美国科技巨头处以罚款之后提出的。</blockquote></p><p> The regulator ruled that Amazon violated the bloc’s General Data Protection Regulation, or GDPR, through its processing of users’ personal data. &nbsp;The decision was triggered by a 2018 complaint from French privacy rights group La Quadrature du Net.</p><p><blockquote>监管机构裁定亚马逊处理用户个人数据违反了欧盟的通用数据保护条例（GDPR）。这一决定是由法国隐私权利组织La Quadrature du Net 2018年的投诉引发的。</blockquote></p><p> The world’s biggest online retailer has drawn scrutiny in recent years for the vast trove of data it has amassed on a range of customers and partners, including independent merchants who sell on its retail marketplace, users of its Alexa digital assistant, and shoppers whose browsing and purchase history inform what Amazon shows them on its website.</p><p><blockquote>近年来，这家全球最大的在线零售商因其收集的一系列客户和合作伙伴的大量数据而受到密切关注，其中包括在其零售市场上销售的独立商家、Alexa数字助理的用户以及浏览和购买历史记录告知亚马逊在其网站上向他们展示的内容。</blockquote></p><p> Amazon declined to comment on the appeal, but referred to a previous statement in July that “there has been no data breach, and no customer data has been exposed to any third party.”</p><p><blockquote>亚马逊拒绝对上诉发表评论，但提到了7月份的一份声明，即“没有发生数据泄露事件，也没有客户数据暴露给任何第三方。”</blockquote></p><p> Amazon previously said it “strongly” disagreed with the Luxembourg authority’s findings.</p><p><blockquote>亚马逊此前表示，“强烈”不同意卢森堡当局的调查结果。</blockquote></p><p> The company says it collects data to improve the customer experience, and sets guidelines governing what employees can do with it. Some lawmakers and regulators have raised concerns that the company has used what it knows to give itself an unfair advantage in the marketplace.</p><p><blockquote>该公司表示，它收集数据是为了改善客户体验，并制定指导方针来管理员工可以利用这些数据做什么。一些立法者和监管机构担心该公司利用其所知道的信息在市场上为自己带来不公平的优势。</blockquote></p><p> EU data protection regulators’ powers have increased significantly since the bloc’s GDPR rules took effect in May 2018. The law allows watchdogs to levy fines of as much as 4% of a company’s annual global sales.</p><p><blockquote>自2018年5月欧盟GDPR规则生效以来，欧盟数据保护监管机构的权力显着增加。该法律允许监管机构征收高达公司全球年销售额4%的罚款。</blockquote></p><p> The privacy probe adds to intense&nbsp;antitrust scrutiny&nbsp;of Amazon’s business in Europe. Amazon is being probed by the EU over its use of data from sellers on its platform and whether it unfairly favors its own products. Germany has multiple probes into Amazon’s sales. The U.K. is also examining similar issues to the EU.</p><p><blockquote>隐私调查加剧了对亚马逊欧洲业务的严格反垄断审查。亚马逊因使用其平台上卖家的数据以及是否不公平地偏袒自己的产品而受到欧盟的调查。德国对亚马逊的销售进行了多项调查。英国也在研究与欧盟类似的问题。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon stock rose 1.5% in morning trading<blockquote>亚马逊股价早盘上涨1.5%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon stock rose 1.5% in morning trading<blockquote>亚马逊股价早盘上涨1.5%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-15 22:47</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Amazon stock rose 1.5% in morning trading&nbsp;after&nbsp;challenging record $865 million EU data-protection fine.</p><p><blockquote>在挑战创纪录的8.65亿美元欧盟数据保护罚款后，亚马逊股价在早盘交易中上涨1.5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3a033875d6b1950d9ce2adfbd5b39d06\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Amazon.com Inc. appealed a record 746 million-euro ($865 million) penalty for allegedly violating the European Union’s tough data-protection rules.</p><p><blockquote>亚马逊公司因涉嫌违反欧盟严格的数据保护规则而被处以创纪录的7.46亿欧元（8.65亿美元）罚款提出上诉。</blockquote></p><p> The appeal was filed at the Luxembourg Administrative Tribunal on Friday, according to Luxembourg court spokesman Henri Eippers.</p><p><blockquote>据卢森堡法院发言人Henri Eippers称，上诉于周五提交给卢森堡行政法庭。</blockquote></p><p> The challenge comes after CNPD, Luxembourg’s data protection regulator, where Amazon has its EU base,slapped&nbsp;the U.S. tech giant with the fine in July.</p><p><blockquote>这一挑战是在亚马逊欧盟总部所在地卢森堡数据保护监管机构CNPD于7月份对这家美国科技巨头处以罚款之后提出的。</blockquote></p><p> The regulator ruled that Amazon violated the bloc’s General Data Protection Regulation, or GDPR, through its processing of users’ personal data. &nbsp;The decision was triggered by a 2018 complaint from French privacy rights group La Quadrature du Net.</p><p><blockquote>监管机构裁定亚马逊处理用户个人数据违反了欧盟的通用数据保护条例（GDPR）。这一决定是由法国隐私权利组织La Quadrature du Net 2018年的投诉引发的。</blockquote></p><p> The world’s biggest online retailer has drawn scrutiny in recent years for the vast trove of data it has amassed on a range of customers and partners, including independent merchants who sell on its retail marketplace, users of its Alexa digital assistant, and shoppers whose browsing and purchase history inform what Amazon shows them on its website.</p><p><blockquote>近年来，这家全球最大的在线零售商因其收集的一系列客户和合作伙伴的大量数据而受到密切关注，其中包括在其零售市场上销售的独立商家、Alexa数字助理的用户以及浏览和购买历史记录告知亚马逊在其网站上向他们展示的内容。</blockquote></p><p> Amazon declined to comment on the appeal, but referred to a previous statement in July that “there has been no data breach, and no customer data has been exposed to any third party.”</p><p><blockquote>亚马逊拒绝对上诉发表评论，但提到了7月份的一份声明，即“没有发生数据泄露事件，也没有客户数据暴露给任何第三方。”</blockquote></p><p> Amazon previously said it “strongly” disagreed with the Luxembourg authority’s findings.</p><p><blockquote>亚马逊此前表示，“强烈”不同意卢森堡当局的调查结果。</blockquote></p><p> The company says it collects data to improve the customer experience, and sets guidelines governing what employees can do with it. Some lawmakers and regulators have raised concerns that the company has used what it knows to give itself an unfair advantage in the marketplace.</p><p><blockquote>该公司表示，它收集数据是为了改善客户体验，并制定指导方针来管理员工可以利用这些数据做什么。一些立法者和监管机构担心该公司利用其所知道的信息在市场上为自己带来不公平的优势。</blockquote></p><p> EU data protection regulators’ powers have increased significantly since the bloc’s GDPR rules took effect in May 2018. The law allows watchdogs to levy fines of as much as 4% of a company’s annual global sales.</p><p><blockquote>自2018年5月欧盟GDPR规则生效以来，欧盟数据保护监管机构的权力显着增加。该法律允许监管机构征收高达公司全球年销售额4%的罚款。</blockquote></p><p> The privacy probe adds to intense&nbsp;antitrust scrutiny&nbsp;of Amazon’s business in Europe. Amazon is being probed by the EU over its use of data from sellers on its platform and whether it unfairly favors its own products. Germany has multiple probes into Amazon’s sales. The U.K. is also examining similar issues to the EU.</p><p><blockquote>隐私调查加剧了对亚马逊欧洲业务的严格反垄断审查。亚马逊因使用其平台上卖家的数据以及是否不公平地偏袒自己的产品而受到欧盟的调查。德国对亚马逊的销售进行了多项调查。英国也在研究与欧盟类似的问题。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180900172","content_text":"Amazon stock rose 1.5% in morning trading after challenging record $865 million EU data-protection fine.\n\nAmazon.com Inc. appealed a record 746 million-euro ($865 million) penalty for allegedly violating the European Union’s tough data-protection rules.\nThe appeal was filed at the Luxembourg Administrative Tribunal on Friday, according to Luxembourg court spokesman Henri Eippers.\nThe challenge comes after CNPD, Luxembourg’s data protection regulator, where Amazon has its EU base,slapped the U.S. tech giant with the fine in July.\nThe regulator ruled that Amazon violated the bloc’s General Data Protection Regulation, or GDPR, through its processing of users’ personal data.  The decision was triggered by a 2018 complaint from French privacy rights group La Quadrature du Net.\nThe world’s biggest online retailer has drawn scrutiny in recent years for the vast trove of data it has amassed on a range of customers and partners, including independent merchants who sell on its retail marketplace, users of its Alexa digital assistant, and shoppers whose browsing and purchase history inform what Amazon shows them on its website.\nAmazon declined to comment on the appeal, but referred to a previous statement in July that “there has been no data breach, and no customer data has been exposed to any third party.”\nAmazon previously said it “strongly” disagreed with the Luxembourg authority’s findings.\nThe company says it collects data to improve the customer experience, and sets guidelines governing what employees can do with it. Some lawmakers and regulators have raised concerns that the company has used what it knows to give itself an unfair advantage in the marketplace.\nEU data protection regulators’ powers have increased significantly since the bloc’s GDPR rules took effect in May 2018. The law allows watchdogs to levy fines of as much as 4% of a company’s annual global sales.\nThe privacy probe adds to intense antitrust scrutiny of Amazon’s business in Europe. Amazon is being probed by the EU over its use of data from sellers on its platform and whether it unfairly favors its own products. Germany has multiple probes into Amazon’s sales. The U.K. is also examining similar issues to the EU.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":834902861,"gmtCreate":1629765094253,"gmtModify":1633682639791,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/834902861","repostId":"2161777891","repostType":4,"isVote":1,"tweetType":1,"viewCount":549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":879424134,"gmtCreate":1636765924740,"gmtModify":1636765924966,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/879424134","repostId":"1129004768","repostType":4,"repost":{"id":"1129004768","kind":"news","pubTimestamp":1636764434,"share":"https://www.laohu8.com/m/news/1129004768?lang=zh_CN&edition=full","pubTime":"2021-11-13 08:47","market":"us","language":"en","title":"Apple: The Bear Argument, And Why It's Wrong<blockquote>苹果：熊市论点及其错误的原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129004768","media":"Seeking Alpha","summary":"Apple has failed to stay above $150 per share for long, and bears are starting to pay attention to the recent weakness in price.I list a couple of the most popular bearish arguments, and explain why I believe that they are either short-sighted or most likely incorrect.Maybe AAPL is not the same pound-the-table buy, but I continue to think that this is a stock to own today through the next several years.This may also help to explain, in part, why Apple's revenues in Greater China shot through the","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Apple has failed to stay above $150 per share for long, and bears are starting to pay attention to the recent weakness in price.</li>  <li>I list a couple of the most popular bearish arguments, and explain why I believe that they are either short-sighted or most likely incorrect.</li>  <li>Maybe AAPL is not the same pound-the-table buy, but I continue to think that this is a stock to own today through the next several years.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4bc955cc5d27328c3b89b327b9368d27\" tg-width=\"1536\" tg-height=\"1020\" width=\"100%\" height=\"auto\"><span>kmwphotography/iStock via Getty Images</span></p><p><blockquote><ul><li>苹果未能长期保持在每股150美元以上，空头开始关注近期价格的疲软。</li><li>我列出了几个最流行的看跌论点，并解释了为什么我认为它们要么是短视的，要么很可能是不正确的。</li><li>也许苹果公司并不是同样值得买入的股票，但我仍然认为这是一只今天值得在未来几年持有的股票。</li></ul><p class=\"t-img-caption\"><span>kmwphotography/iStock来自Getty Images</span></p></blockquote></p><p> With Apple (AAPL) once again failing to make fresh all-time highs, now down around 6% from the peak and dipping closer towards key moving-average support, bears have started to pay attention. Still, I think that the case for selling (or shorting) this stock does not hold much water in the long term, and I believe that bears will ultimately tire of swimming against the current.</p><p><blockquote>随着苹果(AAPL)再次未能创下历史新高，目前较峰值下跌约6%，并接近关键移动平均线支撑位，空头开始关注。尽管如此，我认为从长远来看，出售（或做空）这只股票的理由并不成立，而且我相信空头最终会厌倦逆流而上。</blockquote></p><p> Below, I list the most common few reasons why one might want to dump or stay away from Apple shares – and why I think that the bearish case is either short-sighted or most likely incorrect.</p><p><blockquote>下面，我列出了人们可能想要抛售或远离苹果股票的几个最常见的原因，以及为什么我认为看跌情况要么是短视的，要么很可能是不正确的。</blockquote></p><p> <b>Key risk #1: drop-off in demand</b></p><p><blockquote><b>关键风险#1：需求下降</b></blockquote></p><p> Not many analysts and portfolio managers have been vocal about avoiding or selling Apple. Experts like New Street's&nbsp;Pierre Ferragu&nbsp;and Satori Fund's&nbsp;Dan Niles&nbsp;are the few that come to mind, and their theses seem to align pretty well with every other bearish call on AAPL that I have seen recently.</p><p><blockquote>没有多少分析师和投资组合经理公开表示要避免或出售苹果。像New Street的Pierre Ferragu和Satori Fund的Dan Niles这样的专家是我想到的少数几个，他们的论点似乎与我最近看到的所有其他看跌AAPL的看涨期权非常一致。</blockquote></p><p> The first common reason to sell the stock is often phrased in different ways, but can effectively be summarized as follows: Apple's financial results in the near term should suffer from demand that has already turned into revenues in calendar 2020, during the thick of the pandemic and stay-at-home consumption wave. This is particularly true following the launch of the iPhone 13 that some (including legendary Apple founder&nbsp;Steve Wozniak) see as merely a minor upgrade from the previous model.</p><p><blockquote>出售股票的第一个常见原因通常以不同的方式表述，但可以有效地总结如下：苹果近期的财务业绩应该会受到需求的影响，而需求已经在2020年疫情最严重的时候转化为收入和居家消费浪潮。在iPhone 13发布之后尤其如此，一些人（包括传奇的苹果创始人Steve Wozniak）认为iPhone 13只是对上一款机型的小幅升级。</blockquote></p><p> I see the concern here, especially considering that Apple will start to face unsurmountable iPhone comps in the holidays and post-holiday quarters – see graph below. But the same chart also shows that there seemed to exist quite a bit of pent-up demand over the many quarters that preceded the iPhone 12 launch. One possible justification for this shift in sales from fiscal 2019-2020 to 2021 is Apple's late entry into the 5G space. Consumers that are loyal to or just prefer the iOS device probably waited patiently to upgrade or switch, and then they did it all at once.</p><p><blockquote>我看到了这里的担忧，特别是考虑到苹果将在假期和节后季度开始面临无法克服的iPhone竞争——见下图。但同一张图表还显示，在iPhone 12发布之前的许多季度中，似乎存在相当多被压抑的需求。销售额从2019-2020财年转移到2021财年的一个可能原因是苹果进入5G领域较晚。忠于或只是喜欢iOS设备的消费者可能会耐心等待升级或切换，然后他们一下子就完成了。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7dc677f0a1c77dd39f40b4cc99c6fc15\" tg-width=\"460\" tg-height=\"322\" width=\"100%\" height=\"auto\"><span>Source: DM Martins Research, data from company reports</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：DM Martins Research，数据来自公司报告</span></p></blockquote></p><p> This may also help to explain, in part, why Apple's revenues in Greater China shot through the roof in the past 6 to 12 months. With the country's 5G infrastructure being further developed, owning a device that can handle the faster speeds probably makes most sense. Sales in the region had been lackluster to say the least since 2015, and dropped YOY by as much as 29% in fiscal Q4 of 2020. In the past three quarters, however, revenues climbed by at least 57% in each period.</p><p><blockquote>这也可能有助于部分解释为什么苹果在大中华区的收入在过去6至12个月内飙升。随着该国5G基础设施的进一步发展，拥有一款能够处理更快速度的设备可能是最有意义的。至少可以说，自2015年以来，该地区的销售额一直低迷，2020财年第四季度同比下降了29%。然而，在过去三个季度中，每个季度的收入都至少增长了57%。</blockquote></p><p> In the end, over the last 12 quarters – i.e. roughly the useful life of the average iPhone – Apple's smartphone sales have risen by only 4.8% per year. Considering that ASP (average selling price) has likely increased during the period, this figure barely represents any meaningful growth in device shipments over a full cycle. Therefore, to think that demand for Apple's products will fall off a cliff next seems like a stretch, especially if one also considers chip innovation and design updates in Mac and iPad.</p><p><blockquote>最终，在过去的12个季度（大约是iPhone的平均使用寿命）中，苹果的智能手机销量每年仅增长4.8%。考虑到ASP（平均售价）在此期间可能有所上涨，这一数字几乎不能代表整个周期内设备出货量的任何有意义的增长。因此，认为接下来对苹果产品的需求会断崖式下跌似乎有些牵强，特别是如果还考虑到Mac和iPad的芯片创新和设计更新的话。</blockquote></p><p> <b>Key risk #2: valuation</b></p><p><blockquote><b>关键风险#2：估值</b></blockquote></p><p> The other key risk of investing in Apple that is often brought up is valuation. Dan Niles, mentioned above, suggests that a next-year P/E of 26 times might not even be the biggest deal. The problem is that this multiple looks too rich against growth expectations that are modest.Analysts expect Apple's EPS&nbsp;to rise by only 4% per year through fiscal 2025. Alphabet (GOOG)(GOOGL), valued at a similar earnings multiple, is expected to drive earnings 16% higher per year over a similar period.</p><p><blockquote>投资苹果经常被提及的另一个主要风险是估值。上面提到的丹·奈尔斯(Dan Niles)表示，明年26倍的市盈率可能甚至不是最大的交易。问题是，与温和的增长预期相比，这个市盈率看起来太高了。分析师预计，到2025财年，苹果的每股收益每年仅增长4%。Alphabet(GOOG)（GOOGL）的市盈率相似，预计同期盈利每年将增长16%。</blockquote></p><p> That, in my view, is a more reasonable bearish argument. Per my estimates, Apple is by far the stock with the highest PEG ratio (P/E over long-term EPS growth) of 6.5 times. Amazon (AMZN) is a very distant second on this metric, at 2.3 times. But even here, I see a good argument to be made in favor of Apple.</p><p><blockquote>在我看来，这是一个更合理的看跌论点。根据我的估计，苹果是迄今为止PEG比率（市盈率超过长期每股收益增长）最高的股票，为6.5倍。亚马逊(AMZN)在这一指标上远远落后于第二名，为2.3倍。但即使在这里，我也看到了一个支持苹果的好理由。</blockquote></p><p></p><p> First, the company has been proving to be a powerful gatekeeper in the tech world. Here is one example: the first, most blatant sign that Apple's iOS privacy policy changes in the summer&nbsp;have been hurting social media companies&nbsp;and their financial statements&nbsp;led to the Nasdaqe&nbsp;rasing $120 billion in market value in a matter of minutes – most of which coming from internet stocks. Should one be expected to pay a premium for a stock in the face of such market control? I would say so.</p><p><blockquote>首先，该公司已被证明是科技界强大的看门人。这里有一个例子：第一个也是最明显的迹象表明，苹果今年夏天iOS隐私政策的变化一直在损害社交媒体公司，它们的财务报表导致纳斯达克在几分钟内市值飙升1200亿美元——其中大部分来自互联网股票。面对这种市场控制，人们应该为股票支付溢价吗？我会这么说。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0946db3f3bc62569a56f2dbe2aa75922\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Also, as the chart above depicts, Apple's forward-year P/E has certainly expanded relative to what it used to be a few years ago. But the multi-year move higher seems consistent with (1) a wave of increased demand for Apple's products and services, (2) better margins, (3) a drop in interest rates in 2020, and (4) a broad stock market that has become generally more expensive. Compared to how AAPL traded only about three months ago, P/E has in fact dipped about three turns and returned to early 2021 levels.</p><p><blockquote>此外，如上图所示，苹果的远期市盈率相对于几年前肯定有所扩大。但多年来的上涨似乎与(1)对苹果产品和服务的需求增加浪潮、(2)利润率提高、(3)2020年利率下降以及(4)广泛的股市一致市场普遍变得更加昂贵。与大约三个月前AAPL的交易方式相比，市盈率实际上已经下降了大约三圈，并回到了2021年初的水平。</blockquote></p><p> <b>Key risk #3: lack of positive catalysts</b></p><p><blockquote><b>关键风险#3：缺乏积极的催化剂</b></blockquote></p><p> The next risk to investing in Apple that is often cited are short-term catalysts. The iPhone 13 was announced a few weeks ago, and&nbsp;so has the refreshed lineup&nbsp;of MacBook Pro devices equipped with the new M1 Pro and Max chips. Fiscal fourth quarter earnings is also in the rearview mirror. In fact, I think that the drop off in relevant Apple news in the fourth quarter correlates well with a stock that, seasonally, tends to perform worse in the November-to-January period. Bears may also argue that, with a few quarters of tough comps ahead, investors might have a hard time finding reasons to buy AAPL in the next few months.</p><p><blockquote>经常提到的投资苹果的下一个风险是短期催化剂。iPhone 13在几周前发布，配备新M1 Pro和Max芯片的MacBook Pro设备的更新阵容也是如此。第四财季盈利也已成为过去。事实上，我认为第四季度相关苹果新闻的下降与一只股票在11月至1月期间季节性表现往往较差的股票密切相关。看空者还可能辩称，由于未来几个季度的业绩艰难，投资者可能很难在未来几个月内找到购买苹果公司的理由。</blockquote></p><p> But here, I believe that a bit of patience is warranted. First, the recent malaise in share price alone may be enough to attract new money from investors looking for a good deal on a high-quality stock. But more importantly, longer-term catalysts are likely to make more of a difference on share price and financial performance over the next, say, five years.</p><p><blockquote>但在这里，我认为需要一点耐心。首先，仅最近股价的低迷就足以吸引寻求优质股票优惠的投资者的新资金。但更重要的是，长期催化剂可能会在未来五年内对股价和财务业绩产生更大影响。</blockquote></p><p> I have previously talked in more detail about two catalysts that quickly come to mind. I doubt that much upside from initiatives like mixed reality and&nbsp;autonomous vehicle&nbsp;has been factored into analysts' financial models – and hence, properly priced into the stock. Because Apple is run by a conservative team of executives, I bet that both massive growth opportunities will be pursued if and when they are accretive to the company's earnings. They should, therefore, serve as the key catalysts driving long-term growth expectations (which is relevant for risk #1 above) and share price higher.</p><p><blockquote>我之前已经更详细地谈到了两个很快浮现在脑海中的催化剂。我怀疑混合现实和自动驾驶汽车等举措的太大好处是否已纳入分析师的财务模型，因此也无法正确定价到股票中。由于苹果是由一个保守的高管团队运营的，我敢打赌，如果这两个巨大的增长机会能够增加公司的盈利，那么它们就会被追求。因此，它们应该成为推动长期增长预期（与上述风险#1相关）和股价上涨的关键催化剂。</blockquote></p><p> <b>In summary</b></p><p><blockquote><b>总之</b></blockquote></p><p> Apple may not be the same pound-the-table opportunity that I believed it to be&nbsp;in February 2021&nbsp;or, better yet,in April 2018&nbsp;– in both cases, I believed that shares had sold off for no good reason. But I continue to think that AAPL is a stock to own today through the next several years, especially now that the earnings multiple has started to rerate towards year-ago levels. Should Apple continue to head lower in the near term, the pullback (assuming no meaningful change in business fundamentals) would present an even better chance to buy.</p><p><blockquote>苹果可能不像我在2021年2月或更好的2018年4月那样是一个巨大的机会——在这两种情况下，我都认为股票毫无理由地遭到抛售。但我仍然认为，苹果公司是一只值得在未来几年持有的股票，尤其是现在市盈率已开始重估至去年同期的水平。如果苹果短期内继续走低，回调（假设商业基本面没有发生有意义的变化）将提供更好的买入机会。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple: The Bear Argument, And Why It's Wrong<blockquote>苹果：熊市论点及其错误的原因</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple: The Bear Argument, And Why It's Wrong<blockquote>苹果：熊市论点及其错误的原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-11-13 08:47</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Apple has failed to stay above $150 per share for long, and bears are starting to pay attention to the recent weakness in price.</li>  <li>I list a couple of the most popular bearish arguments, and explain why I believe that they are either short-sighted or most likely incorrect.</li>  <li>Maybe AAPL is not the same pound-the-table buy, but I continue to think that this is a stock to own today through the next several years.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4bc955cc5d27328c3b89b327b9368d27\" tg-width=\"1536\" tg-height=\"1020\" width=\"100%\" height=\"auto\"><span>kmwphotography/iStock via Getty Images</span></p><p><blockquote><ul><li>苹果未能长期保持在每股150美元以上，空头开始关注近期价格的疲软。</li><li>我列出了几个最流行的看跌论点，并解释了为什么我认为它们要么是短视的，要么很可能是不正确的。</li><li>也许苹果公司并不是同样值得买入的股票，但我仍然认为这是一只今天值得在未来几年持有的股票。</li></ul><p class=\"t-img-caption\"><span>kmwphotography/iStock来自Getty Images</span></p></blockquote></p><p> With Apple (AAPL) once again failing to make fresh all-time highs, now down around 6% from the peak and dipping closer towards key moving-average support, bears have started to pay attention. Still, I think that the case for selling (or shorting) this stock does not hold much water in the long term, and I believe that bears will ultimately tire of swimming against the current.</p><p><blockquote>随着苹果(AAPL)再次未能创下历史新高，目前较峰值下跌约6%，并接近关键移动平均线支撑位，空头开始关注。尽管如此，我认为从长远来看，出售（或做空）这只股票的理由并不成立，而且我相信空头最终会厌倦逆流而上。</blockquote></p><p> Below, I list the most common few reasons why one might want to dump or stay away from Apple shares – and why I think that the bearish case is either short-sighted or most likely incorrect.</p><p><blockquote>下面，我列出了人们可能想要抛售或远离苹果股票的几个最常见的原因，以及为什么我认为看跌情况要么是短视的，要么很可能是不正确的。</blockquote></p><p> <b>Key risk #1: drop-off in demand</b></p><p><blockquote><b>关键风险#1：需求下降</b></blockquote></p><p> Not many analysts and portfolio managers have been vocal about avoiding or selling Apple. Experts like New Street's&nbsp;Pierre Ferragu&nbsp;and Satori Fund's&nbsp;Dan Niles&nbsp;are the few that come to mind, and their theses seem to align pretty well with every other bearish call on AAPL that I have seen recently.</p><p><blockquote>没有多少分析师和投资组合经理公开表示要避免或出售苹果。像New Street的Pierre Ferragu和Satori Fund的Dan Niles这样的专家是我想到的少数几个，他们的论点似乎与我最近看到的所有其他看跌AAPL的看涨期权非常一致。</blockquote></p><p> The first common reason to sell the stock is often phrased in different ways, but can effectively be summarized as follows: Apple's financial results in the near term should suffer from demand that has already turned into revenues in calendar 2020, during the thick of the pandemic and stay-at-home consumption wave. This is particularly true following the launch of the iPhone 13 that some (including legendary Apple founder&nbsp;Steve Wozniak) see as merely a minor upgrade from the previous model.</p><p><blockquote>出售股票的第一个常见原因通常以不同的方式表述，但可以有效地总结如下：苹果近期的财务业绩应该会受到需求的影响，而需求已经在2020年疫情最严重的时候转化为收入和居家消费浪潮。在iPhone 13发布之后尤其如此，一些人（包括传奇的苹果创始人Steve Wozniak）认为iPhone 13只是对上一款机型的小幅升级。</blockquote></p><p> I see the concern here, especially considering that Apple will start to face unsurmountable iPhone comps in the holidays and post-holiday quarters – see graph below. But the same chart also shows that there seemed to exist quite a bit of pent-up demand over the many quarters that preceded the iPhone 12 launch. One possible justification for this shift in sales from fiscal 2019-2020 to 2021 is Apple's late entry into the 5G space. Consumers that are loyal to or just prefer the iOS device probably waited patiently to upgrade or switch, and then they did it all at once.</p><p><blockquote>我看到了这里的担忧，特别是考虑到苹果将在假期和节后季度开始面临无法克服的iPhone竞争——见下图。但同一张图表还显示，在iPhone 12发布之前的许多季度中，似乎存在相当多被压抑的需求。销售额从2019-2020财年转移到2021财年的一个可能原因是苹果进入5G领域较晚。忠于或只是喜欢iOS设备的消费者可能会耐心等待升级或切换，然后他们一下子就完成了。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7dc677f0a1c77dd39f40b4cc99c6fc15\" tg-width=\"460\" tg-height=\"322\" width=\"100%\" height=\"auto\"><span>Source: DM Martins Research, data from company reports</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：DM Martins Research，数据来自公司报告</span></p></blockquote></p><p> This may also help to explain, in part, why Apple's revenues in Greater China shot through the roof in the past 6 to 12 months. With the country's 5G infrastructure being further developed, owning a device that can handle the faster speeds probably makes most sense. Sales in the region had been lackluster to say the least since 2015, and dropped YOY by as much as 29% in fiscal Q4 of 2020. In the past three quarters, however, revenues climbed by at least 57% in each period.</p><p><blockquote>这也可能有助于部分解释为什么苹果在大中华区的收入在过去6至12个月内飙升。随着该国5G基础设施的进一步发展，拥有一款能够处理更快速度的设备可能是最有意义的。至少可以说，自2015年以来，该地区的销售额一直低迷，2020财年第四季度同比下降了29%。然而，在过去三个季度中，每个季度的收入都至少增长了57%。</blockquote></p><p> In the end, over the last 12 quarters – i.e. roughly the useful life of the average iPhone – Apple's smartphone sales have risen by only 4.8% per year. Considering that ASP (average selling price) has likely increased during the period, this figure barely represents any meaningful growth in device shipments over a full cycle. Therefore, to think that demand for Apple's products will fall off a cliff next seems like a stretch, especially if one also considers chip innovation and design updates in Mac and iPad.</p><p><blockquote>最终，在过去的12个季度（大约是iPhone的平均使用寿命）中，苹果的智能手机销量每年仅增长4.8%。考虑到ASP（平均售价）在此期间可能有所上涨，这一数字几乎不能代表整个周期内设备出货量的任何有意义的增长。因此，认为接下来对苹果产品的需求会断崖式下跌似乎有些牵强，特别是如果还考虑到Mac和iPad的芯片创新和设计更新的话。</blockquote></p><p> <b>Key risk #2: valuation</b></p><p><blockquote><b>关键风险#2：估值</b></blockquote></p><p> The other key risk of investing in Apple that is often brought up is valuation. Dan Niles, mentioned above, suggests that a next-year P/E of 26 times might not even be the biggest deal. The problem is that this multiple looks too rich against growth expectations that are modest.Analysts expect Apple's EPS&nbsp;to rise by only 4% per year through fiscal 2025. Alphabet (GOOG)(GOOGL), valued at a similar earnings multiple, is expected to drive earnings 16% higher per year over a similar period.</p><p><blockquote>投资苹果经常被提及的另一个主要风险是估值。上面提到的丹·奈尔斯(Dan Niles)表示，明年26倍的市盈率可能甚至不是最大的交易。问题是，与温和的增长预期相比，这个市盈率看起来太高了。分析师预计，到2025财年，苹果的每股收益每年仅增长4%。Alphabet(GOOG)（GOOGL）的市盈率相似，预计同期盈利每年将增长16%。</blockquote></p><p> That, in my view, is a more reasonable bearish argument. Per my estimates, Apple is by far the stock with the highest PEG ratio (P/E over long-term EPS growth) of 6.5 times. Amazon (AMZN) is a very distant second on this metric, at 2.3 times. But even here, I see a good argument to be made in favor of Apple.</p><p><blockquote>在我看来，这是一个更合理的看跌论点。根据我的估计，苹果是迄今为止PEG比率（市盈率超过长期每股收益增长）最高的股票，为6.5倍。亚马逊(AMZN)在这一指标上远远落后于第二名，为2.3倍。但即使在这里，我也看到了一个支持苹果的好理由。</blockquote></p><p></p><p> First, the company has been proving to be a powerful gatekeeper in the tech world. Here is one example: the first, most blatant sign that Apple's iOS privacy policy changes in the summer&nbsp;have been hurting social media companies&nbsp;and their financial statements&nbsp;led to the Nasdaqe&nbsp;rasing $120 billion in market value in a matter of minutes – most of which coming from internet stocks. Should one be expected to pay a premium for a stock in the face of such market control? I would say so.</p><p><blockquote>首先，该公司已被证明是科技界强大的看门人。这里有一个例子：第一个也是最明显的迹象表明，苹果今年夏天iOS隐私政策的变化一直在损害社交媒体公司，它们的财务报表导致纳斯达克在几分钟内市值飙升1200亿美元——其中大部分来自互联网股票。面对这种市场控制，人们应该为股票支付溢价吗？我会这么说。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0946db3f3bc62569a56f2dbe2aa75922\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Also, as the chart above depicts, Apple's forward-year P/E has certainly expanded relative to what it used to be a few years ago. But the multi-year move higher seems consistent with (1) a wave of increased demand for Apple's products and services, (2) better margins, (3) a drop in interest rates in 2020, and (4) a broad stock market that has become generally more expensive. Compared to how AAPL traded only about three months ago, P/E has in fact dipped about three turns and returned to early 2021 levels.</p><p><blockquote>此外，如上图所示，苹果的远期市盈率相对于几年前肯定有所扩大。但多年来的上涨似乎与(1)对苹果产品和服务的需求增加浪潮、(2)利润率提高、(3)2020年利率下降以及(4)广泛的股市一致市场普遍变得更加昂贵。与大约三个月前AAPL的交易方式相比，市盈率实际上已经下降了大约三圈，并回到了2021年初的水平。</blockquote></p><p> <b>Key risk #3: lack of positive catalysts</b></p><p><blockquote><b>关键风险#3：缺乏积极的催化剂</b></blockquote></p><p> The next risk to investing in Apple that is often cited are short-term catalysts. The iPhone 13 was announced a few weeks ago, and&nbsp;so has the refreshed lineup&nbsp;of MacBook Pro devices equipped with the new M1 Pro and Max chips. Fiscal fourth quarter earnings is also in the rearview mirror. In fact, I think that the drop off in relevant Apple news in the fourth quarter correlates well with a stock that, seasonally, tends to perform worse in the November-to-January period. Bears may also argue that, with a few quarters of tough comps ahead, investors might have a hard time finding reasons to buy AAPL in the next few months.</p><p><blockquote>经常提到的投资苹果的下一个风险是短期催化剂。iPhone 13在几周前发布，配备新M1 Pro和Max芯片的MacBook Pro设备的更新阵容也是如此。第四财季盈利也已成为过去。事实上，我认为第四季度相关苹果新闻的下降与一只股票在11月至1月期间季节性表现往往较差的股票密切相关。看空者还可能辩称，由于未来几个季度的业绩艰难，投资者可能很难在未来几个月内找到购买苹果公司的理由。</blockquote></p><p> But here, I believe that a bit of patience is warranted. First, the recent malaise in share price alone may be enough to attract new money from investors looking for a good deal on a high-quality stock. But more importantly, longer-term catalysts are likely to make more of a difference on share price and financial performance over the next, say, five years.</p><p><blockquote>但在这里，我认为需要一点耐心。首先，仅最近股价的低迷就足以吸引寻求优质股票优惠的投资者的新资金。但更重要的是，长期催化剂可能会在未来五年内对股价和财务业绩产生更大影响。</blockquote></p><p> I have previously talked in more detail about two catalysts that quickly come to mind. I doubt that much upside from initiatives like mixed reality and&nbsp;autonomous vehicle&nbsp;has been factored into analysts' financial models – and hence, properly priced into the stock. Because Apple is run by a conservative team of executives, I bet that both massive growth opportunities will be pursued if and when they are accretive to the company's earnings. They should, therefore, serve as the key catalysts driving long-term growth expectations (which is relevant for risk #1 above) and share price higher.</p><p><blockquote>我之前已经更详细地谈到了两个很快浮现在脑海中的催化剂。我怀疑混合现实和自动驾驶汽车等举措的太大好处是否已纳入分析师的财务模型，因此也无法正确定价到股票中。由于苹果是由一个保守的高管团队运营的，我敢打赌，如果这两个巨大的增长机会能够增加公司的盈利，那么它们就会被追求。因此，它们应该成为推动长期增长预期（与上述风险#1相关）和股价上涨的关键催化剂。</blockquote></p><p> <b>In summary</b></p><p><blockquote><b>总之</b></blockquote></p><p> Apple may not be the same pound-the-table opportunity that I believed it to be&nbsp;in February 2021&nbsp;or, better yet,in April 2018&nbsp;– in both cases, I believed that shares had sold off for no good reason. But I continue to think that AAPL is a stock to own today through the next several years, especially now that the earnings multiple has started to rerate towards year-ago levels. Should Apple continue to head lower in the near term, the pullback (assuming no meaningful change in business fundamentals) would present an even better chance to buy.</p><p><blockquote>苹果可能不像我在2021年2月或更好的2018年4月那样是一个巨大的机会——在这两种情况下，我都认为股票毫无理由地遭到抛售。但我仍然认为，苹果公司是一只值得在未来几年持有的股票，尤其是现在市盈率已开始重估至去年同期的水平。如果苹果短期内继续走低，回调（假设商业基本面没有发生有意义的变化）将提供更好的买入机会。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4468890-apple-the-bear-argument-and-why-its-wrong\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4468890-apple-the-bear-argument-and-why-its-wrong","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129004768","content_text":"Summary\n\nApple has failed to stay above $150 per share for long, and bears are starting to pay attention to the recent weakness in price.\nI list a couple of the most popular bearish arguments, and explain why I believe that they are either short-sighted or most likely incorrect.\nMaybe AAPL is not the same pound-the-table buy, but I continue to think that this is a stock to own today through the next several years.\n\nkmwphotography/iStock via Getty Images\nWith Apple (AAPL) once again failing to make fresh all-time highs, now down around 6% from the peak and dipping closer towards key moving-average support, bears have started to pay attention. Still, I think that the case for selling (or shorting) this stock does not hold much water in the long term, and I believe that bears will ultimately tire of swimming against the current.\nBelow, I list the most common few reasons why one might want to dump or stay away from Apple shares – and why I think that the bearish case is either short-sighted or most likely incorrect.\nKey risk #1: drop-off in demand\nNot many analysts and portfolio managers have been vocal about avoiding or selling Apple. Experts like New Street's Pierre Ferragu and Satori Fund's Dan Niles are the few that come to mind, and their theses seem to align pretty well with every other bearish call on AAPL that I have seen recently.\nThe first common reason to sell the stock is often phrased in different ways, but can effectively be summarized as follows: Apple's financial results in the near term should suffer from demand that has already turned into revenues in calendar 2020, during the thick of the pandemic and stay-at-home consumption wave. This is particularly true following the launch of the iPhone 13 that some (including legendary Apple founder Steve Wozniak) see as merely a minor upgrade from the previous model.\nI see the concern here, especially considering that Apple will start to face unsurmountable iPhone comps in the holidays and post-holiday quarters – see graph below. But the same chart also shows that there seemed to exist quite a bit of pent-up demand over the many quarters that preceded the iPhone 12 launch. One possible justification for this shift in sales from fiscal 2019-2020 to 2021 is Apple's late entry into the 5G space. Consumers that are loyal to or just prefer the iOS device probably waited patiently to upgrade or switch, and then they did it all at once.\nSource: DM Martins Research, data from company reports\nThis may also help to explain, in part, why Apple's revenues in Greater China shot through the roof in the past 6 to 12 months. With the country's 5G infrastructure being further developed, owning a device that can handle the faster speeds probably makes most sense. Sales in the region had been lackluster to say the least since 2015, and dropped YOY by as much as 29% in fiscal Q4 of 2020. In the past three quarters, however, revenues climbed by at least 57% in each period.\nIn the end, over the last 12 quarters – i.e. roughly the useful life of the average iPhone – Apple's smartphone sales have risen by only 4.8% per year. Considering that ASP (average selling price) has likely increased during the period, this figure barely represents any meaningful growth in device shipments over a full cycle. Therefore, to think that demand for Apple's products will fall off a cliff next seems like a stretch, especially if one also considers chip innovation and design updates in Mac and iPad.\nKey risk #2: valuation\nThe other key risk of investing in Apple that is often brought up is valuation. Dan Niles, mentioned above, suggests that a next-year P/E of 26 times might not even be the biggest deal. The problem is that this multiple looks too rich against growth expectations that are modest.Analysts expect Apple's EPS to rise by only 4% per year through fiscal 2025. Alphabet (GOOG)(GOOGL), valued at a similar earnings multiple, is expected to drive earnings 16% higher per year over a similar period.\nThat, in my view, is a more reasonable bearish argument. Per my estimates, Apple is by far the stock with the highest PEG ratio (P/E over long-term EPS growth) of 6.5 times. Amazon (AMZN) is a very distant second on this metric, at 2.3 times. But even here, I see a good argument to be made in favor of Apple.\nFirst, the company has been proving to be a powerful gatekeeper in the tech world. Here is one example: the first, most blatant sign that Apple's iOS privacy policy changes in the summer have been hurting social media companies and their financial statements led to the Nasdaqe rasing $120 billion in market value in a matter of minutes – most of which coming from internet stocks. Should one be expected to pay a premium for a stock in the face of such market control? I would say so.\nData by YCharts\nAlso, as the chart above depicts, Apple's forward-year P/E has certainly expanded relative to what it used to be a few years ago. But the multi-year move higher seems consistent with (1) a wave of increased demand for Apple's products and services, (2) better margins, (3) a drop in interest rates in 2020, and (4) a broad stock market that has become generally more expensive. Compared to how AAPL traded only about three months ago, P/E has in fact dipped about three turns and returned to early 2021 levels.\nKey risk #3: lack of positive catalysts\nThe next risk to investing in Apple that is often cited are short-term catalysts. The iPhone 13 was announced a few weeks ago, and so has the refreshed lineup of MacBook Pro devices equipped with the new M1 Pro and Max chips. Fiscal fourth quarter earnings is also in the rearview mirror. In fact, I think that the drop off in relevant Apple news in the fourth quarter correlates well with a stock that, seasonally, tends to perform worse in the November-to-January period. Bears may also argue that, with a few quarters of tough comps ahead, investors might have a hard time finding reasons to buy AAPL in the next few months.\nBut here, I believe that a bit of patience is warranted. First, the recent malaise in share price alone may be enough to attract new money from investors looking for a good deal on a high-quality stock. But more importantly, longer-term catalysts are likely to make more of a difference on share price and financial performance over the next, say, five years.\nI have previously talked in more detail about two catalysts that quickly come to mind. I doubt that much upside from initiatives like mixed reality and autonomous vehicle has been factored into analysts' financial models – and hence, properly priced into the stock. Because Apple is run by a conservative team of executives, I bet that both massive growth opportunities will be pursued if and when they are accretive to the company's earnings. They should, therefore, serve as the key catalysts driving long-term growth expectations (which is relevant for risk #1 above) and share price higher.\nIn summary\nApple may not be the same pound-the-table opportunity that I believed it to be in February 2021 or, better yet,in April 2018 – in both cases, I believed that shares had sold off for no good reason. But I continue to think that AAPL is a stock to own today through the next several years, especially now that the earnings multiple has started to rerate towards year-ago levels. Should Apple continue to head lower in the near term, the pullback (assuming no meaningful change in business fundamentals) would present an even better chance to buy.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":855597919,"gmtCreate":1635381888328,"gmtModify":1635381888474,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/855597919","repostId":"1171848660","repostType":4,"isVote":1,"tweetType":1,"viewCount":654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":867429850,"gmtCreate":1633309330873,"gmtModify":1633309331455,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/867429850","repostId":"2172962204","repostType":4,"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":806480011,"gmtCreate":1627688806433,"gmtModify":1633757182932,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/806480011","repostId":"1109883672","repostType":4,"isVote":1,"tweetType":1,"viewCount":452,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340720967,"gmtCreate":1617496112159,"gmtModify":1634520810296,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"let’s buy","listText":"let’s buy","text":"let’s buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/340720967","repostId":"1158992788","repostType":4,"repost":{"id":"1158992788","kind":"news","pubTimestamp":1617365040,"share":"https://www.laohu8.com/m/news/1158992788?lang=zh_CN&edition=full","pubTime":"2021-04-02 20:04","market":"us","language":"en","title":"2 Top Stocks You Can Buy and Hold for the Next Decade<blockquote>未来十年您可以购买并持有的2只顶级股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158992788","media":"Motley Fool","summary":"These two tech stocks provide a combination of stability and growth that investors can confidently buy and hold for the long term.The hot stock of the day might sound too good to pass up, but your long-term investment portfolio should focus on stocks that should have strong fundamentals both today and a decade into the future. It's hard to see 10 years into the future, and the unexpected can always leap up to disrupt a sound narrative.However, there are steps we can take to identify companies wi","content":"<p>These two tech stocks provide a combination of stability and growth that investors can confidently buy and hold for the long term.The hot stock of the day might sound too good to pass up, but your long-term investment portfolio should focus on stocks that should have strong fundamentals both today and a decade into the future. It's hard to see 10 years into the future, and the unexpected can always leap up to disrupt a sound narrative.</p><p><blockquote>这两只科技股提供了稳定性和增长的结合，投资者可以放心地购买并长期持有。当天的热门股票听起来可能太好了，不容错过，但您的长期投资组合应该专注于今天和未来十年都应该具有强劲基本面的股票。很难预见10年后的未来，意想不到的事情总是会突然出现，扰乱一个合理的叙事。</blockquote></p><p>However, there are steps we can take to identify companies with stellar growth opportunities and sustainable competitive advantages. Some mega-trends are relatively easy to predict, and the best companies enabling those trends are likely to outperform the market over the long term. With a 10-year time horizon, we don't have to take as much care to limit volatility or nitpickvaluation ratios. A decade from now, the winners will have ridden out economic cycles and grown enough to justify all but the most aggressive valuations today.</p><p><blockquote>然而，我们可以采取一些措施来识别具有出色增长机会和可持续竞争优势的公司。一些大趋势相对容易预测，从长远来看，推动这些趋势的最佳公司可能会跑赢市场。在10年的时间范围内，我们不必那么小心地限制波动性或吹毛求疵的估值比率。十年后，赢家将摆脱经济周期，并实现足够的增长，证明除了当今最激进的估值之外的所有估值都是合理的。</blockquote></p><p>These two stocks have established businesses, exposure to major tech trends, and reputable products in growth categories. They're great building blocks for your investment portfolio.</p><p><blockquote>这两只股票拥有成熟的业务、接触主要科技趋势以及成长类别中信誉良好的产品。它们是您投资组合的重要组成部分。</blockquote></p><p><b>NVIDIA</b></p><p><blockquote><b>英伟达</b></blockquote></p><p><b>NVIDIA</b>(NASDAQ:NVDA)rose to prominence as a leader in the design and production of graphics processing units (GPU) for computers. The company's products have evolved to become important components in data centers, cryptocurrency mining hardware, autonomous vehicles, and robotics. This aligns NVDIA's fortunes directly with some of thedisruptive technology trendsthat are expected to define the next decade. As blockchain, AI, security, remote connectivity, and video gaming become more prominent, demand for NVIDIA's industry-leading products will also grow.</p><p><blockquote><b>英伟达</b>（纳斯达克：NVDA）作为计算机图形处理单元（GPU）设计和生产的领导者而声名鹊起。该公司的产品已发展成为数据中心、加密货币挖矿硬件、自动驾驶汽车和机器人技术的重要组件。这使得NVDIA的命运与一些预计将定义未来十年的颠覆性技术趋势直接一致。随着区块链、AI、安全、远程连接和视频游戏变得更加突出，对英伟达行业领先产品的需求也将增长。</blockquote></p><p>The company is also in advanced discussions to acquire a licensed chip design company called Arm, which would expand NVIDIA's operations into a new growth avenue. That'd be especially true if moves from<b>Apple</b>and others to manufacture chips internally boost demand for chip design services.</p><p><blockquote>该公司还在就收购一家名为Arm的授权芯片设计公司进行深入讨论，这将使英伟达的业务扩展到一个新的增长途径。如果从<b>苹果</b>和其他人在内部制造芯片，提振了对芯片设计服务的需求。</blockquote></p><p>The story has a fair share of risks. The semiconductor industry is notoriously cyclical, as demand and pricing can fluctuate drastically based on theproduct replacement cycle, rather than global macroeconomic conditions. Plus, a serious decline in highly volatile cryptocurrency prices could also see a steep drop in demand for the chips used in mining. NVIDIA trades at more than 38 timesforward earnings, nearly 19 timesprice to book, and has anenterprise-value-to-EBITDAratio above 55. If bad news creeps in, share prices could crater quickly.</p><p><blockquote>这个故事有相当大的风险。众所周知，半导体行业具有周期性，因为需求和价格可能会根据产品更换周期而不是全球宏观经济状况而剧烈波动。此外，高度波动的加密货币价格严重下跌也可能导致对采矿所用芯片的需求急剧下降。NVIDIA的预期市盈率超过38倍，市净率接近19倍，企业价值与EBITD之比超过55。如果坏消息传来，股价可能会迅速暴跌。</blockquote></p><p>Still, NVIDIA is growing rapidly, and its products have an excellent reputation. The company is deeply connected to all of the most exciting technology trends of the next decade, and there's an enormous opportunity ahead for shareholders. It's good to hold today, and it could be much larger in the future.</p><p><blockquote>尽管如此，英伟达仍在快速增长，其产品也拥有极佳的声誉。该公司与未来十年所有最令人兴奋的技术趋势紧密相连，股东面临着巨大的机遇。今天持有很好，未来可能会更大。</blockquote></p><p><b>Microsoft</b></p><p><blockquote><b>微软</b></blockquote></p><p><b>Microsoft</b>(NASDAQ:MSFT)is famous for its Windows operating system and the Office software suite, but it is also one of the major players incloud services. The company also owns the networking and employment social media platform LinkedIn, has a large video game business, and sells the popular Surface brand of touchscreen computers.</p><p><blockquote><b>微软</b>（纳斯达克：MSFT）以其Windows操作系统和Office软件套件而闻名，但它也是云服务的主要参与者之一。该公司还拥有网络和就业社交媒体平台LinkedIn，拥有大型视频游戏业务，并销售广受欢迎的Surface品牌触摸屏电脑。</blockquote></p><p>Microsoft has a rare combination of favorable characteristics. The company enjoys stability through enormous scale and product diversity, but it is also delivering exceptional growth -- that's not common. For the first six months of fiscal 2021, total sales increased nearly 15% over the prior year. The company's Azure server products and cloud services grew 50% year over year in the most recent quarter. That segment has expanded to exceed the revenue produced by Microsoft's flagship personal computing products. Almost every business is tech-enabled now, and the inevitable growth of software as a service (SaaS), cybersecurity, and remote collaboration is a catalyst for cloud service providers.</p><p><blockquote>微软拥有罕见的有利特征组合。该公司通过巨大的规模和产品多样性享有稳定性，但它也实现了非凡的增长——这并不常见。2021财年前六个月，总销售额比上年增长近15%。该公司的Azure服务器产品和云服务在最近一个季度同比增长了50%。该细分市场已经扩大到超过微软旗舰个人计算产品产生的收入。现在，几乎每个企业都是技术支持的，软件即服务（SaaS）、网络安全和远程协作不可避免的增长是云服务提供商的催化剂。</blockquote></p><p>Microsoft is in direct competition with fearsome heavy-hitters including<b>Amazon</b>,<b>Alphabet</b>, and Apple. That's certainly a risk. That said, Azure is second only to AWS in the cloud market, with 20% share. Encouragingly, it has actually gained market share over the past year. Microsoft will grow by merely maintaining share in the next decade, as cloud services are expected to expand nearly 20% annually.</p><p><blockquote>微软正与可怕的重量级选手直接竞争，包括<b>亚马逊</b>,<b>Alphabet</b>，还有苹果。这当然是一个风险。也就是说，Azure在云市场仅次于AWS，份额为20%。令人鼓舞的是，它实际上在过去一年中获得了市场份额。未来十年，微软将仅通过保持份额来实现增长，因为云服务预计每年将增长近20%。</blockquote></p><p>At a forward P/E ratio of only 28.7, there's too much upside potential here relative to the risks associated with competition. Microsoft has the established business to make it a relatively safe stock, and it also provides growth potential to outpace the market.</p><p><blockquote>远期市盈率仅为28.7，相对于与竞争相关的风险，这里的上涨潜力太大。微软拥有成熟的业务，使其成为相对安全的股票，并且还提供了超越市场的增长潜力。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2 Top Stocks You Can Buy and Hold for the Next Decade<blockquote>未来十年您可以购买并持有的2只顶级股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2 Top Stocks You Can Buy and Hold for the Next Decade<blockquote>未来十年您可以购买并持有的2只顶级股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-04-02 20:04</span>\n</p>\n</h4>\n</header>\n<article>\n<p>These two tech stocks provide a combination of stability and growth that investors can confidently buy and hold for the long term.The hot stock of the day might sound too good to pass up, but your long-term investment portfolio should focus on stocks that should have strong fundamentals both today and a decade into the future. It's hard to see 10 years into the future, and the unexpected can always leap up to disrupt a sound narrative.</p><p><blockquote>这两只科技股提供了稳定性和增长的结合，投资者可以放心地购买并长期持有。当天的热门股票听起来可能太好了，不容错过，但您的长期投资组合应该专注于今天和未来十年都应该具有强劲基本面的股票。很难预见10年后的未来，意想不到的事情总是会突然出现，扰乱一个合理的叙事。</blockquote></p><p>However, there are steps we can take to identify companies with stellar growth opportunities and sustainable competitive advantages. Some mega-trends are relatively easy to predict, and the best companies enabling those trends are likely to outperform the market over the long term. With a 10-year time horizon, we don't have to take as much care to limit volatility or nitpickvaluation ratios. A decade from now, the winners will have ridden out economic cycles and grown enough to justify all but the most aggressive valuations today.</p><p><blockquote>然而，我们可以采取一些措施来识别具有出色增长机会和可持续竞争优势的公司。一些大趋势相对容易预测，从长远来看，推动这些趋势的最佳公司可能会跑赢市场。在10年的时间范围内，我们不必那么小心地限制波动性或吹毛求疵的估值比率。十年后，赢家将摆脱经济周期，并实现足够的增长，证明除了当今最激进的估值之外的所有估值都是合理的。</blockquote></p><p>These two stocks have established businesses, exposure to major tech trends, and reputable products in growth categories. They're great building blocks for your investment portfolio.</p><p><blockquote>这两只股票拥有成熟的业务、接触主要科技趋势以及成长类别中信誉良好的产品。它们是您投资组合的重要组成部分。</blockquote></p><p><b>NVIDIA</b></p><p><blockquote><b>英伟达</b></blockquote></p><p><b>NVIDIA</b>(NASDAQ:NVDA)rose to prominence as a leader in the design and production of graphics processing units (GPU) for computers. The company's products have evolved to become important components in data centers, cryptocurrency mining hardware, autonomous vehicles, and robotics. This aligns NVDIA's fortunes directly with some of thedisruptive technology trendsthat are expected to define the next decade. As blockchain, AI, security, remote connectivity, and video gaming become more prominent, demand for NVIDIA's industry-leading products will also grow.</p><p><blockquote><b>英伟达</b>（纳斯达克：NVDA）作为计算机图形处理单元（GPU）设计和生产的领导者而声名鹊起。该公司的产品已发展成为数据中心、加密货币挖矿硬件、自动驾驶汽车和机器人技术的重要组件。这使得NVDIA的命运与一些预计将定义未来十年的颠覆性技术趋势直接一致。随着区块链、AI、安全、远程连接和视频游戏变得更加突出，对英伟达行业领先产品的需求也将增长。</blockquote></p><p>The company is also in advanced discussions to acquire a licensed chip design company called Arm, which would expand NVIDIA's operations into a new growth avenue. That'd be especially true if moves from<b>Apple</b>and others to manufacture chips internally boost demand for chip design services.</p><p><blockquote>该公司还在就收购一家名为Arm的授权芯片设计公司进行深入讨论，这将使英伟达的业务扩展到一个新的增长途径。如果从<b>苹果</b>和其他人在内部制造芯片，提振了对芯片设计服务的需求。</blockquote></p><p>The story has a fair share of risks. The semiconductor industry is notoriously cyclical, as demand and pricing can fluctuate drastically based on theproduct replacement cycle, rather than global macroeconomic conditions. Plus, a serious decline in highly volatile cryptocurrency prices could also see a steep drop in demand for the chips used in mining. NVIDIA trades at more than 38 timesforward earnings, nearly 19 timesprice to book, and has anenterprise-value-to-EBITDAratio above 55. If bad news creeps in, share prices could crater quickly.</p><p><blockquote>这个故事有相当大的风险。众所周知，半导体行业具有周期性，因为需求和价格可能会根据产品更换周期而不是全球宏观经济状况而剧烈波动。此外，高度波动的加密货币价格严重下跌也可能导致对采矿所用芯片的需求急剧下降。NVIDIA的预期市盈率超过38倍，市净率接近19倍，企业价值与EBITD之比超过55。如果坏消息传来，股价可能会迅速暴跌。</blockquote></p><p>Still, NVIDIA is growing rapidly, and its products have an excellent reputation. The company is deeply connected to all of the most exciting technology trends of the next decade, and there's an enormous opportunity ahead for shareholders. It's good to hold today, and it could be much larger in the future.</p><p><blockquote>尽管如此，英伟达仍在快速增长，其产品也拥有极佳的声誉。该公司与未来十年所有最令人兴奋的技术趋势紧密相连，股东面临着巨大的机遇。今天持有很好，未来可能会更大。</blockquote></p><p><b>Microsoft</b></p><p><blockquote><b>微软</b></blockquote></p><p><b>Microsoft</b>(NASDAQ:MSFT)is famous for its Windows operating system and the Office software suite, but it is also one of the major players incloud services. The company also owns the networking and employment social media platform LinkedIn, has a large video game business, and sells the popular Surface brand of touchscreen computers.</p><p><blockquote><b>微软</b>（纳斯达克：MSFT）以其Windows操作系统和Office软件套件而闻名，但它也是云服务的主要参与者之一。该公司还拥有网络和就业社交媒体平台LinkedIn，拥有大型视频游戏业务，并销售广受欢迎的Surface品牌触摸屏电脑。</blockquote></p><p>Microsoft has a rare combination of favorable characteristics. The company enjoys stability through enormous scale and product diversity, but it is also delivering exceptional growth -- that's not common. For the first six months of fiscal 2021, total sales increased nearly 15% over the prior year. The company's Azure server products and cloud services grew 50% year over year in the most recent quarter. That segment has expanded to exceed the revenue produced by Microsoft's flagship personal computing products. Almost every business is tech-enabled now, and the inevitable growth of software as a service (SaaS), cybersecurity, and remote collaboration is a catalyst for cloud service providers.</p><p><blockquote>微软拥有罕见的有利特征组合。该公司通过巨大的规模和产品多样性享有稳定性，但它也实现了非凡的增长——这并不常见。2021财年前六个月，总销售额比上年增长近15%。该公司的Azure服务器产品和云服务在最近一个季度同比增长了50%。该细分市场已经扩大到超过微软旗舰个人计算产品产生的收入。现在，几乎每个企业都是技术支持的，软件即服务（SaaS）、网络安全和远程协作不可避免的增长是云服务提供商的催化剂。</blockquote></p><p>Microsoft is in direct competition with fearsome heavy-hitters including<b>Amazon</b>,<b>Alphabet</b>, and Apple. That's certainly a risk. That said, Azure is second only to AWS in the cloud market, with 20% share. Encouragingly, it has actually gained market share over the past year. Microsoft will grow by merely maintaining share in the next decade, as cloud services are expected to expand nearly 20% annually.</p><p><blockquote>微软正与可怕的重量级选手直接竞争，包括<b>亚马逊</b>,<b>Alphabet</b>，还有苹果。这当然是一个风险。也就是说，Azure在云市场仅次于AWS，份额为20%。令人鼓舞的是，它实际上在过去一年中获得了市场份额。未来十年，微软将仅通过保持份额来实现增长，因为云服务预计每年将增长近20%。</blockquote></p><p>At a forward P/E ratio of only 28.7, there's too much upside potential here relative to the risks associated with competition. Microsoft has the established business to make it a relatively safe stock, and it also provides growth potential to outpace the market.</p><p><blockquote>远期市盈率仅为28.7，相对于与竞争相关的风险，这里的上涨潜力太大。微软拥有成熟的业务，使其成为相对安全的股票，并且还提供了超越市场的增长潜力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/02/2-top-stocks-you-can-buy-and-hold-for-the-next-dec/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软","NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2021/04/02/2-top-stocks-you-can-buy-and-hold-for-the-next-dec/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158992788","content_text":"These two tech stocks provide a combination of stability and growth that investors can confidently buy and hold for the long term.The hot stock of the day might sound too good to pass up, but your long-term investment portfolio should focus on stocks that should have strong fundamentals both today and a decade into the future. It's hard to see 10 years into the future, and the unexpected can always leap up to disrupt a sound narrative.However, there are steps we can take to identify companies with stellar growth opportunities and sustainable competitive advantages. Some mega-trends are relatively easy to predict, and the best companies enabling those trends are likely to outperform the market over the long term. With a 10-year time horizon, we don't have to take as much care to limit volatility or nitpickvaluation ratios. A decade from now, the winners will have ridden out economic cycles and grown enough to justify all but the most aggressive valuations today.These two stocks have established businesses, exposure to major tech trends, and reputable products in growth categories. They're great building blocks for your investment portfolio.NVIDIANVIDIA(NASDAQ:NVDA)rose to prominence as a leader in the design and production of graphics processing units (GPU) for computers. The company's products have evolved to become important components in data centers, cryptocurrency mining hardware, autonomous vehicles, and robotics. This aligns NVDIA's fortunes directly with some of thedisruptive technology trendsthat are expected to define the next decade. As blockchain, AI, security, remote connectivity, and video gaming become more prominent, demand for NVIDIA's industry-leading products will also grow.The company is also in advanced discussions to acquire a licensed chip design company called Arm, which would expand NVIDIA's operations into a new growth avenue. That'd be especially true if moves fromAppleand others to manufacture chips internally boost demand for chip design services.The story has a fair share of risks. The semiconductor industry is notoriously cyclical, as demand and pricing can fluctuate drastically based on theproduct replacement cycle, rather than global macroeconomic conditions. Plus, a serious decline in highly volatile cryptocurrency prices could also see a steep drop in demand for the chips used in mining. NVIDIA trades at more than 38 timesforward earnings, nearly 19 timesprice to book, and has anenterprise-value-to-EBITDAratio above 55. If bad news creeps in, share prices could crater quickly.Still, NVIDIA is growing rapidly, and its products have an excellent reputation. The company is deeply connected to all of the most exciting technology trends of the next decade, and there's an enormous opportunity ahead for shareholders. It's good to hold today, and it could be much larger in the future.MicrosoftMicrosoft(NASDAQ:MSFT)is famous for its Windows operating system and the Office software suite, but it is also one of the major players incloud services. The company also owns the networking and employment social media platform LinkedIn, has a large video game business, and sells the popular Surface brand of touchscreen computers.Microsoft has a rare combination of favorable characteristics. The company enjoys stability through enormous scale and product diversity, but it is also delivering exceptional growth -- that's not common. For the first six months of fiscal 2021, total sales increased nearly 15% over the prior year. The company's Azure server products and cloud services grew 50% year over year in the most recent quarter. That segment has expanded to exceed the revenue produced by Microsoft's flagship personal computing products. Almost every business is tech-enabled now, and the inevitable growth of software as a service (SaaS), cybersecurity, and remote collaboration is a catalyst for cloud service providers.Microsoft is in direct competition with fearsome heavy-hitters includingAmazon,Alphabet, and Apple. That's certainly a risk. That said, Azure is second only to AWS in the cloud market, with 20% share. Encouragingly, it has actually gained market share over the past year. Microsoft will grow by merely maintaining share in the next decade, as cloud services are expected to expand nearly 20% annually.At a forward P/E ratio of only 28.7, there's too much upside potential here relative to the risks associated with competition. Microsoft has the established business to make it a relatively safe stock, and it also provides growth potential to outpace the market.","news_type":1,"symbols_score_info":{"NVDA":0.9,"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881776404,"gmtCreate":1631410353708,"gmtModify":1631889792367,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/881776404","repostId":"2166377033","repostType":4,"isVote":1,"tweetType":1,"viewCount":437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145582003,"gmtCreate":1626230385402,"gmtModify":1633928798030,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"opss","listText":"opss","text":"opss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/145582003","repostId":"1107276001","repostType":4,"isVote":1,"tweetType":1,"viewCount":414,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146304630,"gmtCreate":1626052359720,"gmtModify":1633930652821,"author":{"id":"3557823792637532","authorId":"3557823792637532","name":"ZhiLing","avatar":"https://static.tigerbbs.com/40d052b9f7db59b50f72a3cbcbc99234","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3557823792637532","idStr":"3557823792637532"},"themes":[],"htmlText":"ofcoz","listText":"ofcoz","text":"ofcoz","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/146304630","repostId":"1189655421","repostType":4,"isVote":1,"tweetType":1,"viewCount":805,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}