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2021-05-18

like n cmt

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2021-09-27

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2021-06-18

pl like n comment

Alibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</blockquote>

2021-04-15

comment pls

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2022-01-10

Qqqqq

Is Tesla Stock Headed to $1,400 or $67? Why Predicting Auto Makers’ Performance Is Tricky<blockquote>特斯拉股价将达到 1,400 美元还是 67 美元？为什么预测汽车制造商的业绩很棘手</blockquote>

2021-08-22

a

Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</blockquote>

2021-11-11

A

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2021-09-12

aaa

Why Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</blockquote>

2021-06-06

can a kind soul advise how to LIKE a reply ?

U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>

2021-12-29

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21:55","market":"us","language":"en","title":"Biogen says yet to speak with CMS about coverage of Alzheimer's drug<blockquote>百健表示尚未与 CMS 讨论阿尔茨海默氏症药物的覆盖范围</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2203976407","media":"Reuters","summary":"(Reuters) - Biogen Inc has not discussed with the Centers for Medicaid and Medicare Services about i","content":"<p><html><head></head><body>(Reuters) - Biogen Inc has not discussed with the Centers for Medicaid and Medicare Services about its decision on the coverage of the drugmaker&#39;s Alzheimer&#39;s drug, the company&#39;s chief executive officer said in a call with the analyst.</p><p><blockquote><html><head></head><body>（路透社）-百健公司首席执行官在与分析师的看涨期权上表示，该公司尚未与医疗补助和医疗保险服务中心讨论其关于该制药商阿尔茨海默氏症药物承保范围的决定。</body></html></blockquote></p><p>In a draft decision on Tuesday, CMS, which runs the government health plan for people over age 65, said it would cover Aduhelm, and similar treatments, only for patients enrolled in approved clinical trials.</p><p><blockquote>在周二的一份决定草案中，为 65 岁以上人群运营政府健康计划的 CMS 表示，它将仅为参加批准临床试验的患者承保 Aduhelm 和类似治疗。</blockquote></p><p>&#34;We want to be constructive with CMS. We want just to have a dialogue,&#34; Biogen CEO Michel Vounatsos said.</p><p><blockquote>“我们希望与 CMS 保持建设性。我们只是想进行对话，”百健首席执行官 Michel Vounatsos 说道。</blockquote></p><p></body></html></p><p><blockquote></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>Biogen says yet to speak with CMS about coverage of Alzheimer's drug<blockquote>百健表示尚未与 CMS 讨论阿尔茨海默氏症药物的覆盖范围</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\">\nBiogen says yet to speak with CMS about coverage of Alzheimer's drug<blockquote>百健表示尚未与 CMS 讨论阿尔茨海默氏症药物的覆盖范围</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2022-01-13 21:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>(Reuters) - Biogen Inc has not discussed with the Centers for Medicaid and Medicare Services about its decision on the coverage of the drugmaker&#39;s Alzheimer&#39;s drug, the company&#39;s chief executive officer said in a call with the analyst.</p><p><blockquote><html><head></head><body>（路透社）-百健公司首席执行官在与分析师的看涨期权上表示，该公司尚未与医疗补助和医疗保险服务中心讨论其关于该制药商阿尔茨海默氏症药物承保范围的决定。</body></html></blockquote></p><p>In a draft decision on Tuesday, CMS, which runs the government health plan for people over age 65, said it would cover Aduhelm, and similar treatments, only for patients enrolled in approved clinical trials.</p><p><blockquote>在周二的一份决定草案中，为 65 岁以上人群运营政府健康计划的 CMS 表示，它将仅为参加批准临床试验的患者承保 Aduhelm 和类似治疗。</blockquote></p><p>&#34;We want to be constructive with CMS. We want just to have a dialogue,&#34; Biogen CEO Michel Vounatsos said.</p><p><blockquote>“我们希望与 CMS 保持建设性。我们只是想进行对话，”百健首席执行官 Michel Vounatsos 说道。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Reuters</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":{"BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","BIIB":"渤健公司","CMS":"CMS能源","BK4208":"复合型公用事业","BK4532":"文艺复兴科技持仓"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2203976407","content_text":"(Reuters) - Biogen Inc has not discussed with the Centers for Medicaid and Medicare Services about its decision on the coverage of the drugmaker's Alzheimer's drug, the company's chief executive officer said in a call with the analyst.In a draft decision on Tuesday, CMS, which runs the government health plan for people over age 65, said it would cover Aduhelm, and similar treatments, only for patients enrolled in approved clinical trials.\"We want to be constructive with CMS. We want just to have a dialogue,\" Biogen CEO Michel Vounatsos said.","news_type":1,"symbols_score_info":{"BIIB":1,"CMS":1}},"isVote":1,"tweetType":1,"viewCount":4152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":694257889,"gmtCreate":1642003502104,"gmtModify":1642003502285,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqq","listText":"Qqq","text":"Qqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/694257889","repostId":"1199219279","repostType":4,"repost":{"id":"1199219279","kind":"news","pubTimestamp":1641998773,"share":"https://www.laohunote.com/m/news/1199219279?lang=zh_CN&edition=full","pubTime":"2022-01-12 22:46","market":"us","language":"en","title":"Aesthetics Firm Suneva Is in Talks for Viveon Health SPAC Deal<blockquote>美容公司 Suneva 正在就 Viveon Health SPAC 交易进行谈判</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199219279","media":"Bloomberg","summary":"(Bloomberg) -- Suneva Medical Inc., which sells beauty and anti-aging products to doctors’ offices, ","content":"<p><div> (Bloomberg) -- Suneva Medical Inc., which sells beauty and anti-aging products to doctors’ offices, has agreed to go public through a merger with blank-check company Viveon Health Acquisition Corp.The...</p><p><blockquote><div>(彭博社）--向医生办公室销售美容和抗衰老产品的 Suneva Medical Inc.已同意通过与空白支票公司 Viveon Health Acquisition Corp.合并上市。</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/aesthetics-firm-suneva-said-talks-010000738.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/aesthetics-firm-suneva-said-talks-010000738.html\">网页连接</a></blockquote></p><p></p>","source":"lsy1612507957220","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>Aesthetics Firm Suneva Is in Talks for Viveon Health SPAC Deal<blockquote>美容公司 Suneva 正在就 Viveon Health SPAC 交易进行谈判</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\">\nAesthetics Firm Suneva Is in Talks for Viveon Health SPAC Deal<blockquote>美容公司 Suneva 正在就 Viveon Health SPAC 交易进行谈判</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2022-01-12 22:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> (Bloomberg) -- Suneva Medical Inc., which sells beauty and anti-aging products to doctors’ offices, has agreed to go public through a merger with blank-check company Viveon Health Acquisition Corp.The...</p><p><blockquote><div>(彭博社）--向医生办公室销售美容和抗衰老产品的 Suneva Medical Inc.已同意通过与空白支票公司 Viveon Health Acquisition Corp.合并上市。</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/aesthetics-firm-suneva-said-talks-010000738.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/aesthetics-firm-suneva-said-talks-010000738.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/aesthetics-firm-suneva-said-talks-010000738.html\">Bloomberg</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":{"VHAQ":"Viveon Health Acquisition Corp"},"source_url":"https://finance.yahoo.com/news/aesthetics-firm-suneva-said-talks-010000738.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199219279","content_text":"(Bloomberg) -- Suneva Medical Inc., which sells beauty and anti-aging products to doctors’ offices, has agreed to go public through a merger with blank-check company Viveon Health Acquisition Corp.The deal values the combined company at about $511 million including debt, according to a statement Wednesday that confirmed an earlier Bloomberg News report. Existing Suneva backers will invest $10 million in a private investment in public equity deal, according to Chief Executive Officer Pat Altavilla.The combined company will operate as Suneva Medical and trade on the New York Stock Exchange under the symbol RNEW, according to the statement.“It’s a wonderful way for Suneva to become fully capitalized to take advantage of the remarkable capabilities of the capital markets and to grow the business the way we intend to,” Altavilla said in an interview.Suneva expects to grow by developing new products like a hair-restoration offering, acquiring businesses and catering to more men and millenials, she said.Suneva specializes in so-called regenerative aesthetics that use the body’s own collagen to improve the skin’s appearance. Its biggest product is Bellafill, a Food and Drug Administration-approved dermal filler that is advertised to “smooth smile lines” and reduce the appearance of acne scars. Its products and procedures, all of which Altavilla said have a “biostimulatory component” are sold into medical offices and conducted by doctors, nurses or nurse practitioners. It has about 1600 customers, she said.Viveon Health Acquisition, a special purpose acquisition company, or SPAC, raised $201 million in its initial public offering in 2020.“People are looking toward more natural solutions,” Altavilla said. “The regenerative properties of these procedures allow them to have better longer-lasting results.”","news_type":1,"symbols_score_info":{"VHAQ":0.9}},"isVote":1,"tweetType":1,"viewCount":4021,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":694127230,"gmtCreate":1641875151933,"gmtModify":1641875152131,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqwq","listText":"Qqwq","text":"Qqwq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/694127230","repostId":"1104925214","repostType":4,"repost":{"id":"1104925214","kind":"news","pubTimestamp":1641868694,"share":"https://www.laohunote.com/m/news/1104925214?lang=zh_CN&edition=full","pubTime":"2022-01-11 10:38","market":"us","language":"en","title":"7 Hot Stocks to Buy on Any Dip This Year<blockquote>今年逢低买入的 7 只热门股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104925214","media":"InvestorPlace","summary":"An increase in interest rates is looming due to higher inflation, supply-chain issues, lofty stock v","content":"<p><div> An increase in interest rates is looming due to higher inflation, supply-chain issues, lofty stock valuations and now the super-contagious omicron variant of Covid-19. As a result, forecasting market ...</p><p><blockquote><div>由于通胀上升、供应链问题、高股票估值以及现在具有超强传染性的 Covid-19 奥密克戎变种，利率上升迫在眉睫。因此，预测市场……</div></blockquote></p><p>  <a href=\"https://investorplace.com/2022/01/7-hot-stocks-to-buy-on-any-dip-this-year/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2022/01/7-hot-stocks-to-buy-on-any-dip-this-year/\">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>7 Hot Stocks to Buy on Any Dip This Year<blockquote>今年逢低买入的 7 只热门股票</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\">\n7 Hot Stocks to Buy on Any Dip This Year<blockquote>今年逢低买入的 7 只热门股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2022-01-11 10:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> An increase in interest rates is looming due to higher inflation, supply-chain issues, lofty stock valuations and now the super-contagious omicron variant of Covid-19. As a result, forecasting market ...</p><p><blockquote><div>由于通胀上升、供应链问题、高股票估值以及现在具有超强传染性的 Covid-19 奥密克戎变种，利率上升迫在眉睫。因此，预测市场……</div></blockquote></p><p>  <a href=\"https://investorplace.com/2022/01/7-hot-stocks-to-buy-on-any-dip-this-year/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2022/01/7-hot-stocks-to-buy-on-any-dip-this-year/\">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/2022/01/7-hot-stocks-to-buy-on-any-dip-this-year/\">InvestorPlace</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":{"SCHW":"嘉信理财","ADI":"亚德诺","DD":"杜邦","ADMT":"ADM Tronics Unlimited, Inc.","FSR":"菲斯克","UMI":"USCF Midstream Energy Income Fund","U":"Unity Software Inc."},"source_url":"https://investorplace.com/2022/01/7-hot-stocks-to-buy-on-any-dip-this-year/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104925214","content_text":"An increase in interest rates is looming due to higher inflation, supply-chain issues, lofty stock valuations and now the super-contagious omicron variant of Covid-19. As a result, forecasting market performance for 2022 seems more difficult than it’s been in previous years. Right now, it looks like the market is priced to perfection with a slim margin of error. Therefore, investors could benefit by keeping an eye on hot stocks.Since March 2020, the bull market has seen returns of nearly 110% in the S&P 500Index. Despite such a remarkable rally, we need to highlight that 93% of the index saw a selloff of more than 10% in 2021.While Wells Fargo predicts that the S&P 500 index could hit 5,300, Morgan Stanley has a bearish outlook with a year-end 2022 target for 4,400. That suggest a decline of more than 4% from current levels.Amidst so much uncertainty, market analysts have expressed conflicting opinions about where investor gains in the new year may come from. Market forecasts for 2022 might ultimately rely on correctly forecasting how the pandemic evolves. “The pathof the economy continues to depend on the course of the virus,” the Federal Open Market Committee’s stated following the Federal Reserve meeting in December.With that information, here are seven hot stocks that offer substantial upside to any investor portfolio in 2022:Analog Devices(NASDAQ:ADI)Applied Materials(NASDAQ:AMAT)Charles Schwab(NYSE:SCHW)Dupont De Nemours (NYSE:DD)Fisker (NYSE:FSR)Unity Software(NYSE:U)USCF Midstream Energy Income Fund(NYSEARCA:UMI)Hot Stocks: Analog Devices(ADI)52-week range:$142.25 – $191.95Dividend yield:1.6%Leading our list of hot stocks to watch is Wilmington, Massachusetts-based Analog Devices. The company manufactures chips that leverage high-performance analog, mixed-signal and digital signal processing technology. The chipmaker has a leading market share in converter chips that translate analog signals to digital and vice versa.Analog Devices announced fourth-quarter 2021 results on Nov. 23, 2021. Revenue increased 53% year-over-year (YOY) to $2.34 billion. Adjusted earnings increased from $1.44 per share to $1.73 per share. The chipmaker generated a free cash flow of $810 million during the period. Cash and equivalents ended the quarter at $1.98 billion.On the metrics, CEO Vincent Roche said, “ADI delivered another quarter of record revenue and profits, marking a strong end to the fiscal year. Our Industrial and Automotive markets reached all-time highs and our Consumer business returned to solid growth in fiscal 2021.”The chipmaker continues to expand its manufacturing capacity to meet the rising demand for its cutting-edge chips. In fact, Analog received more orders than it could fill during the past year, leading to a solid backlog for its products. Moreover, it has recently completed the acquisition of Maxim Integrated, further solidifying its position as a semiconductor leader.Most of Analog’s revenue comes from the industrial and automotive markets. Factory automation is driving surging demand for sensors and connectivity options for machines, all of which require the use of ADI’s chips. Furthermore, the automotive industry’s demand for chips continues to grow rapidly due to the increasing popularity of electric vehicles(EVs).Currently, ADI stock hovers just below $170 per share, up nearly 8% over the past 12 months. Shares are trading at 24 times forward earnings and 10 times trailing sales. The 12-month median price forecast for Analog Devicesstands at $210.Applied Materials(AMAT)52-week range:$94.18 – $163.02Dividend yield:0.6%When it comes to semiconductor manufacturing equipment, the one company that tops the list is the Santa Clara, California-based Applied Materials. It iswell-known for materials and engineering solutions.Applied Materials released Q4 2021 results in mid-November. It reported a record quarterly revenue of $6.12 billion, up 31% YOY. Adjusted net income came in at $1.76 billion, or $1.94 per diluted share, up 53% YOY from $1.15 billion, or $1.25 per diluted share, in the prior-year quarter.“Applied delivered strong growth in fiscal 2021, with overall orders up by 62 percent year over year and Semiconductor Systems orders up 78 percent,” remarked CFO Bob Halliday. “The momentum continued as our Semiconductor Systems backlog increased during the fourth quarter from $5.5 billion to $6.7 billion, and we see this strength sustaining into 2022.”The company stands to benefit from crucial high-growth trends, including artificial intelligence, 5G, cloud computing, the Internet of Things (IoT) and autonomous driving. In particular, Applied Materials continues to gain significant market share in process control, including wafer inspection and e-beam technology. Demand for these services should keep AMAT on your list of hot stocks to watch.In addition, Applied Materials plays a vital role in the U.S. tech industry. The lion’s share of global chip manufacturing is based in Taiwan, so the U.S. and Europe are looking to expand their domestic chip manufacturing capabilities. This implies significant long-term growth opportunities for equipment suppliers like Applied Materials.At present, AMAT stock is priced around $145. Over the past 12 months, it has surged 53%. Given the rising global demand for foundry and logic capacity, the company has a moderate valuation at 18.7 times forward earnings and 6.1 times trailing sales. The 12-month median price forecast for Applied Materials stock stands at $174.Hot Stocks: Charles Schwab(SCHW)52-week range:$50.77 – $92.32Dividend yield:0.8%In addition to brokerage services, the San Francisco, California-based Charles Schwab offers asset management, wealth management, banking, and other financial advisory services. Currently,the group boasts about $8 trillion in client assets, nearly 33 million active brokerage accounts and more than 2 million corporate retirement plan participants.Charles Schwab released Q3 2021 results in mid-October. Revenue surged 87% YOY to $4.57 billion. Further, adjusted net income grew 130% to $1.72 billion, or 84 cents per diluted share, up from $749 million, or 51 cents per diluted share, a year ago.On the results, CEO Walt Bettinger remarked, “We generated core net new assets of $139.0 billion in the quarter, pushing asset gathering for the first nine months of the year to $396.0 billion, representing an 8% annualized organic growth rate. Total client assets ended September at $7.61 trillion, up from $6.69 trillion at year-end 2020.”In 2021, the increase in assets contributed to high growth. Now Wall Street concurs that Schwab should benefit from rising interest rates in 2022. Net interest revenue accounted for around 45% of total revenue in Q3.Considering the anticipated increase in interest rates and Schwab’s powerful organic growth potential, many investors are following SCHW stock closely. It currently hovers in $90 territory, and over the past 12 months, the stock price has jumped 54%. SCHW is trading at 23.3 times forward earnings and 8.5 times trailing sales. The 12-month median price forecast for Charles Schwab stock stands at $95.50.Dupont De Nemours (DD)52-week range:$66.37 – $87.27Dividend yield:1.44%DuPont de Nemours is one of the largest chemical and specialty materials companies worldwide. It provides many synthetic components that serve automotive, electronics, construction, safety and water management industries.The company released Q3 2021 results in early November. Revenue for the period totaled $4.3 billion, up 18% YOY. Net income stood at $391 million, or 75 cents per diluted share, compared to a net loss of $79 million, or a loss of 11 cents loss per diluted share, in the prior-year quarter. Dupont generated a free cash flow of $634 million during the quarter. Cash and equivalents ended the quarter at $1.67 billion.DuPont is going through a transition period, shifting its focus from low-margin chemical businesses to higher-margin opportunities in sectors with long-term growth potential. In November, management announced the acquisitionofRogers Corporation for $5.2 billion.This acquisition allows DuPont to gain exposure to secular high-growth markets, including electric vehicles, 5G and clean energy. Meanwhile, DuPont plans to divest most of its Mobility & Materials segment, including engineering polymers and performance resins products lines.On the acquisition, CEO Ed Breen remarked, “Today we also separately announced a definitive agreement to acquire Rogers Corporation, an advanced materials provider with superior technology innovation, applications engineering expertise, and leading end-market positions.”DD stock is currently priced just below $82 per share, up 2% in the past 12 months. Shares are trading at 16.5 times forward earnings and 2.2 times trailing sales. The 12-month median price forecast for DuPont stock stands at $96.Hot Stocks: Fisker (FSR)52-week range:$9.61 – $31.96Manhattan Beach, California-based Fisker is a pre-revenue EV name that made its market debut in 2020. It has a unique asset-light business model based on contract manufacturing.Fisker released Q3 2021 results in early November. Net loss for the period totaled $110 million, or a loss of 37 cents per share, compared to a net loss of $40 million in the previous year. Cash and equivalents ended the quarter at $1.4 billion.After the announcement, CEO Henrik Fisker noted, “We continued to make rapid progress in Q3 2021 on our core focus, achieving program milestones that ensure we execute Fisker Ocean SUV on-time and with several segment-leading features.”Production for the Fisker Ocean, a mid-size premium SUV, is set to begin in November. The EV will be available to consumers through a leasing package that costs $37,499, making it one of the most affordable EVs on the market. Fisker Ocean reservations are expected to increase in 2022 with the opening of experience centers.The Ocean is sold exclusively through the Fisker app or website without a dealer network. As a result, Wall Street is interested in its low overhead costs. Further, contract manufacturing should allow the company to enhance its EV portfolio without investing in risky manufacturing capacity.Understandably, without revenues, Fisker is a speculative EV play. FSR stock hovers in $15 territory, up 2% over the past year. The 12-month median price forecast for Fisker stock stands at $25.50.Unity Software(U)52-week range:$76 – $210Unity Software offers a software platform for developing interactive experiences and creating computer-generated visuals. The company is well-known for providing an engine for video games that work across computers, consoles, smart phones and virtual reality (VR) devices.Unity reported Q3 2021 results in early November. Revenue soared 43% YOY to $286 million. But non-GAAP loss widened to $12.1 million, or 6 cents per diluted share, compared to a loss of $8.4 million, or 9 cents per diluted share, in the previous year. Cash and equivalents ended the period at $755 million.On the results, CEO John Riccitiello remarked, “Unity’s strong performance this quarter was driven by innovation in data science, vertical growth and making significant strides in bringing RT3D technologies and tools to as many creators and artists as possible.”Wall Street agrees Unity should benefit from the development of the metaverse. It is swiftly gaining a solid foothold in the VR and augmented reality (AR) markets. Around 60% of all games built for AR and VR are currently utilizing its engine services.Moreover, Unity has recently acquired the visual-effects studioWeta Digital. This new business could soon enable the company to offer digital-effects services for film, games and television.Unity hit an all-time high of $210 in mid-November. However, it currently trades around $125, down 13% over the past year. Shares are trading at 39x trailing sales. The 12-month median price forecast for Unity stock stands at $185.Hot Stocks: USCF Midstream Energy Income Fund(UMI)52-Week Range: $24.32 – $32.62Expense Ratio: 0.85% per yearClosing out this list of hot stocks to monitor is the USCF Midstream Energy Income Fund, an exchange-traded fund (ETF).It invests in U.S. and Canadian midstream energy companies, including master limited partnerships (MLPs). These energy infrastructure companies focus on transportation, storage, gathering and processing of energy.UMI, which started trading in March 2021, has24 holdings. Fund managers choose companies based on their income growth, balance sheet strength, distribution (or dividend) coverage and contract quality. Exposure to commodity prices is also important as it can impact share prices, especially in the short run.The top 10 names account for around 65% of net assets of $125.2 million. Among the leading names on the roster are Targa Resources(NYSE:TRGP),Enbridge(NYSE:ENB) and Enterprise Products Partners(NYSE:EPD).Robust MLPs with quality contracts and solid fundamental metrics tend to be cash cows that most investors love. Since its inception in March 2020, UMI has soared more than 20% and saw a record high of $32.62 in mid-October. Interested investors should consider buying at $28.50.","news_type":1,"symbols_score_info":{"DD":0.9,"ADI":0.9,"ADMT":0.9,"SCHW":0.9,"FSR":0.9,"UMI":0.9,"U":0.9}},"isVote":1,"tweetType":1,"viewCount":5135,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":694391913,"gmtCreate":1641806328163,"gmtModify":1641806328363,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqqqq","listText":"Qqqqq","text":"Qqqqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/694391913","repostId":"1199490797","repostType":4,"repost":{"id":"1199490797","kind":"news","pubTimestamp":1641828722,"share":"https://www.laohunote.com/m/news/1199490797?lang=zh_CN&edition=full","pubTime":"2022-01-10 23:32","market":"us","language":"en","title":"Is Tesla Stock Headed to $1,400 or $67? Why Predicting Auto Makers’ Performance Is Tricky<blockquote>特斯拉股价将达到 1,400 美元还是 67 美元？为什么预测汽车制造商的业绩很棘手</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199490797","media":"Barrons","summary":"Who needs parody cryptocurrency when car stocks are this exciting?","content":"<p><html><head></head><body>Who needs parody cryptocurrency when car stocks are this exciting? Ford Motor, General Motors, Tesla, and Rivian Automotive each had price swings of more than 10% during the first trading week of the year. This, after some heady gains for the group last year.</p><p><blockquote><html><head></head><body>当汽车股如此令人兴奋时，谁还需要模仿加密货币？福特汽车公司、通用汽车公司、特斯拉公司和Rivian公司在今年第一个交易周的价格波动均超过 10%。这是在该集团去年取得一些令人兴奋的收益之后。</body></html></blockquote></p><p>Predicting performance from here won’t be easy. I recently spoke with one analyst who says Tesla stock (ticker: TSLA) is headed to $1,400, and another who says $67. You know what they say: Sometimes you have to agree to disagree by a factor of 20.</p><p><blockquote>从这里预测性能并不容易。我最近与一位分析师交谈过，他表示特斯拉股票（股票代码：TSLA）将达到 1,400 美元，另一位分析师表示将达到 67 美元。你知道他们说什么：有时候你必须同意20倍的不同意见。</blockquote></p><p>Tesla made the first big move, jumping 13.5% on Monday after the company reported fourth-quarter deliveries of 308,600 vehicles, trouncing estimates and its own record. Next, Ford (F) gained 11.7% on Tuesday after it announced that it would raise production of its first electric pickup, the F-150 Lightning, to 150,000 units a year.</p><p><blockquote>特斯拉公布第四季度交付量为 308,600 辆，超出预期和自身纪录，周一股价上涨 13.5%。接下来，福特 (F) 周二上涨 11.7%，此前该公司宣布将其首款电动皮卡 F-150 Lightning 的产量提高到每年 15 万辆。</blockquote></p><p>By that point in the week, General Motors stock (GM) was already up 12% in anticipation of its Chevy Silverado electric pickup truck unveiling, planned for Wednesday at the Consumer Electronics Show. But on the day of the announcement, shares slipped. Maybe investors were disappointed in the delivery timing, or maybe it was because the broad market tanked on signs that interest rates could rise sooner than expected.</p><p><blockquote>本周那个时候，通用汽车 (GM) 的股价已经上涨了 12%，预计其雪佛兰索罗德电动皮卡车将于周三在消费电子展上亮相。但在公告发布当天，股价下跌。也许投资者对交割时间感到失望，或者也许是因为大盘因利率可能比预期更早上升的迹象而下跌。</blockquote></p><p>What the Ford and Chevy pickups have in common is that they will target workers as well as suburban preeners in unblemished Carhartt jackets. Early versions will be priced around $40,000 and $100,000.</p><p><blockquote>福特和雪佛兰皮卡的共同点是，它们将瞄准穿着完美无瑕的卡哈特夹克的工人和郊区创业者。早期版本的价格将在4万美元和10万美元左右。</blockquote></p><p>The Chevy wins on electric specs—longer battery range and faster charging. But Ford wins on bringing its truck to market this spring. Chevy buyers will have to wait until spring 2023 for the cheaper truck and fall 2023 for the decked-out one. GM will also debut electric Chevy sport utility vehicles in 2023, including an Equinox that will start at $30,000.</p><p><blockquote>雪佛兰在电动规格上获胜——更长的电池续航里程和更快的充电速度。但福特在今年春天将其卡车推向市场方面取得了胜利。雪佛兰买家必须等到 2023 年春季才能买到更便宜的卡车，2023 年秋季才能买到装饰精美的卡车。通用汽车还将于 2023 年推出电动雪佛兰运动型多功能车，其中包括起售价为 30,000 美元的 Equinox。</blockquote></p><p>Pickup trucks could be the key to America’s electric-vehicle uptake. Last year, EVs hit an estimated 4% of total U.S. sales, up from 2%. But Europe and China are well ahead, with penetration rates in the low teens. Americans have so far had few electric choices for the types of vehicles they like to buy. Last year, the Ford F-150 led U.S. new-vehicle sales, as always. The only surprise was that the Ram 1500 pickup pulled ahead of the Chevy Silverado 1500 to be No. 2.</p><p><blockquote>皮卡车可能是美国电动汽车普及的关键。去年，电动汽车估计占美国总销量的 4%，高于 2%。但欧洲和中国遥遥领先，渗透率仅为十几岁。到目前为止，美国人对于他们喜欢购买的车辆类型几乎没有电动选择。去年，福特 F-150 一如既往地引领美国新车销量。唯一令人惊讶的是，Ram 1500 皮卡领先于雪佛兰索罗德 1500，位居第二。</blockquote></p><p>An electric Ram will take until 2024, according to owner Stellantis (STLA), a roll-up of American, Italian, and French brands. Start-up Rivian (RIVN) says it will ship electric pickups this year, but that stock slid 11% this past Wednesday after early backer Amazon.com (AMZN) said it’s putting in an order with Ram for delivery trucks. Tesla’s Cybertruck was expected last year, but has been delayed.</p><p><blockquote>据所有者 Stellantis (STLA) 称，电动 Ram 要到 2024 年才会问世，该公司是美国、意大利和法国品牌的综合体。初创公司Rivian（RIVN）表示，今年将出货电动皮卡，但上周三，在早期支持者亚马逊（AMZN）表示将向 Ram 订购送货卡车后，该公司股价下跌了 11%。特斯拉的 Cybertruck 去年就已上市，但已被推迟。</blockquote></p><p>Pent-up vehicle demand, meanwhile, suggests that a boom is coming. Amid shortages last year, U.S. light-vehicle sales were an estimated 15.1 million units, versus closer to 17 million a year before the pandemic. Average transaction prices have soared 30% from prepandemic levels, and incentives as a percentage of prices are at record lows.</p><p><blockquote>与此同时，被压抑的汽车需求表明繁荣即将到来。由于去年出现短缺，美国轻型汽车销量估计为 1510 万辆，而疫情爆发前每年接近 1700 万辆。平均交易价格已比大流行前的水平飙升了 30%，激励措施占价格的百分比也处于历史低位。</blockquote></p><p>This year, expect unit sales to rise only modestly, but by next year, when showrooms are full and pricing has eased, units could jump to 18 million, Credit Suisse says. EV penetration in the U.S. will double again this year to 8%, and top 50% by 2030, it adds.</p><p><blockquote>瑞士信贷表示，今年预计销量只会小幅增长，但到明年，当展厅爆满且定价放缓时，销量可能会跃升至 1800 万辆。它补充说，美国的电动汽车渗透率今年将再次翻一番，达到 8%，到 2030 年将达到 50%。</blockquote></p><p>One risk for legacy car makers is that they will run to stand still—that they must ramp up EV units with low profit margins for now to offset coming losses in high-margin gasoline models.</p><p><blockquote>传统汽车制造商面临的一个风险是，他们将停滞不前——他们目前必须增加利润率较低的电动汽车，以抵消高利润率汽油车型即将出现的损失。</blockquote></p><p>On the other hand, car makers could shift capacity from gasoline vehicles to electric ones ahead of customers’ willingness to make the switch. That could leave gas vehicles with high prices and profit margins, creating a long, lucrative “farewell tour,” as Morgan Stanley analyst Adam Jonas puts it.</p><p><blockquote>另一方面，汽车制造商可以在客户愿意转向电动汽车之前，将产能从汽油车转移到电动汽车。正如摩根士丹利（Morgan Stanley）分析师亚当-乔纳斯（Adam Jonas）所说，这可能会使汽油车的价格和利润率居高不下，从而造成一段漫长而利润丰厚的 “告别之旅”。</blockquote></p><p>Valuations appear undemanding. Ford goes for 12 times projected earnings, despite doubling in price last year. GM sells for nine times.</p><p><blockquote>估值似乎要求不高。尽管去年的价格翻了一番，但福特的盈利仍是预期的 12 倍。通用汽车的销量是原来的九倍。</blockquote></p><p>The bull case on Tesla is that it will do big things in both cars and adjacent markets. Philippe Houchois, who covers the stock for Jefferies, sees 35% upside from recent levels, to $1,400. Tesla lags behind legacy rivals on things like build quality and finish, but those are solvable problems, he says. It leads on software, batteries, and autonomy, which are durable advantages. He sees Tesla using software to extend the usefulness and profit potential of vehicles.</p><p><blockquote>特斯拉的看涨理由是，它将在汽车和邻近市场大展身手。杰富瑞 (Jefferies) 负责该股的 Philippe Houchois 认为，该股较近期水平上涨 35%，至 1,400 美元。他说，特斯拉在制造质量和表面处理等方面落后于传统竞争对手，但这些都是可以解决的问题。它在软件、电池和自主性方面处于领先地位，这些都是持久的优势。他认为特斯拉正在利用软件来扩展车辆的实用性和利润潜力。</blockquote></p><p>Most versions of the Tesla bear case assume that the company will do well in cars, but not well enough to justify a market value above $1 trillion. For example, J.P. Morgan’s Ryan Brinkman calls his price target of $295 “not ungenerous,” even though it implies a 70% stock plunge, because it values Tesla slightly ahead of world leader Toyota Motor (TM), despite producing a tenth as many cars for now.</p><p><blockquote>大多数版本的特斯拉贝尔案例都假设该公司在汽车领域会表现出色，但还不足以证明其超过 1 万亿美元的市值是合理的。例如，摩根大通（J.P. Morgan）的 Ryan Brinkman 评级，他将 295 美元的目标价定为 “并不慷慨”，尽管这意味着股价将暴跌 70%，因为特斯拉的估值略高于世界领先的丰田汽车（TM），尽管丰田汽车目前的产量只有丰田汽车的十分之一。</blockquote></p><p></p><p>Then there’s Gordon Johnson. He worked at large investment banks before starting GLJ Research, where he covers 20 stocks. He’s bullish on uranium stocks and bearish on cannabis, but all anyone wants to talk about, he says, is his $67 price target on Tesla. “I’ve gotten death threats,” he says. “Now I don’t even answer the phone when I have unknown calls.”</p><p><blockquote>然后是戈登-约翰逊。在开始 GLJ Research 之前，他曾在大型投资银行工作，在那里他研究了 20 只股票。他看好铀股，看跌大麻，但他说，大家只想谈论他对特斯拉的 67 美元目标价。“他说：”我收到了死亡威胁。“现在，当我有未知评级时，我甚至不接电话。”</blockquote></p><p>In Johnson’s view, there’s no reason to assume Tesla will do well in adjacent businesses. “You could take McDonald’s and say they’re going to start selling Nikes and chairs and pianos and add those valuations,” he says. In cars, he calculates that the stock price implies a production ramp-up that no car maker could achieve. “Selling cars is not selling iPhones or shirts,” he says.</p><p><blockquote>在约翰逊看来，没有理由认为特斯拉会在邻近业务中表现出色。“他说：”你可以拿麦当劳来说，他们将开始销售耐克鞋、椅子和钢琴，然后增加这些估值。在汽车方面，他计算出股价意味着任何汽车制造商都无法实现的产量增长。“他说：”卖车不是卖 iPhone 或衬衫。</blockquote></p><p>If Tesla’s three-year stock gain of nearly 1,400% has shaken Johnson’s confidence, it doesn’t show. After walking me through his valuation model, he said he’s concerned that his price target might be too high.</p><p><blockquote>如果说特斯拉三年内近 1400% 的股价涨幅动摇了约翰逊的信心，那么约翰逊的信心并没有显现出来。在向我介绍了他的估值模型后，他说他担心他的目标价可能太高。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","source":"market_watch","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 Tesla Stock Headed to $1,400 or $67? Why Predicting Auto Makers’ Performance Is Tricky<blockquote>特斯拉股价将达到 1,400 美元还是 67 美元？为什么预测汽车制造商的业绩很棘手</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 Tesla Stock Headed to $1,400 or $67? Why Predicting Auto Makers’ Performance Is Tricky<blockquote>特斯拉股价将达到 1,400 美元还是 67 美元？为什么预测汽车制造商的业绩很棘手</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2022-01-10 23:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Who needs parody cryptocurrency when car stocks are this exciting? Ford Motor, General Motors, Tesla, and Rivian Automotive each had price swings of more than 10% during the first trading week of the year. This, after some heady gains for the group last year.</p><p><blockquote><html><head></head><body>当汽车股如此令人兴奋时，谁还需要模仿加密货币？福特汽车公司、通用汽车公司、特斯拉公司和Rivian公司在今年第一个交易周的价格波动均超过 10%。这是在该集团去年取得一些令人兴奋的收益之后。</body></html></blockquote></p><p>Predicting performance from here won’t be easy. I recently spoke with one analyst who says Tesla stock (ticker: TSLA) is headed to $1,400, and another who says $67. You know what they say: Sometimes you have to agree to disagree by a factor of 20.</p><p><blockquote>从这里预测性能并不容易。我最近与一位分析师交谈过，他表示特斯拉股票（股票代码：TSLA）将达到 1,400 美元，另一位分析师表示将达到 67 美元。你知道他们说什么：有时候你必须同意20倍的不同意见。</blockquote></p><p>Tesla made the first big move, jumping 13.5% on Monday after the company reported fourth-quarter deliveries of 308,600 vehicles, trouncing estimates and its own record. Next, Ford (F) gained 11.7% on Tuesday after it announced that it would raise production of its first electric pickup, the F-150 Lightning, to 150,000 units a year.</p><p><blockquote>特斯拉公布第四季度交付量为 308,600 辆，超出预期和自身纪录，周一股价上涨 13.5%。接下来，福特 (F) 周二上涨 11.7%，此前该公司宣布将其首款电动皮卡 F-150 Lightning 的产量提高到每年 15 万辆。</blockquote></p><p>By that point in the week, General Motors stock (GM) was already up 12% in anticipation of its Chevy Silverado electric pickup truck unveiling, planned for Wednesday at the Consumer Electronics Show. But on the day of the announcement, shares slipped. Maybe investors were disappointed in the delivery timing, or maybe it was because the broad market tanked on signs that interest rates could rise sooner than expected.</p><p><blockquote>本周那个时候，通用汽车 (GM) 的股价已经上涨了 12%，预计其雪佛兰索罗德电动皮卡车将于周三在消费电子展上亮相。但在公告发布当天，股价下跌。也许投资者对交割时间感到失望，或者也许是因为大盘因利率可能比预期更早上升的迹象而下跌。</blockquote></p><p>What the Ford and Chevy pickups have in common is that they will target workers as well as suburban preeners in unblemished Carhartt jackets. Early versions will be priced around $40,000 and $100,000.</p><p><blockquote>福特和雪佛兰皮卡的共同点是，它们将瞄准穿着完美无瑕的卡哈特夹克的工人和郊区创业者。早期版本的价格将在4万美元和10万美元左右。</blockquote></p><p>The Chevy wins on electric specs—longer battery range and faster charging. But Ford wins on bringing its truck to market this spring. Chevy buyers will have to wait until spring 2023 for the cheaper truck and fall 2023 for the decked-out one. GM will also debut electric Chevy sport utility vehicles in 2023, including an Equinox that will start at $30,000.</p><p><blockquote>雪佛兰在电动规格上获胜——更长的电池续航里程和更快的充电速度。但福特在今年春天将其卡车推向市场方面取得了胜利。雪佛兰买家必须等到 2023 年春季才能买到更便宜的卡车，2023 年秋季才能买到装饰精美的卡车。通用汽车还将于 2023 年推出电动雪佛兰运动型多功能车，其中包括起售价为 30,000 美元的 Equinox。</blockquote></p><p>Pickup trucks could be the key to America’s electric-vehicle uptake. Last year, EVs hit an estimated 4% of total U.S. sales, up from 2%. But Europe and China are well ahead, with penetration rates in the low teens. Americans have so far had few electric choices for the types of vehicles they like to buy. Last year, the Ford F-150 led U.S. new-vehicle sales, as always. The only surprise was that the Ram 1500 pickup pulled ahead of the Chevy Silverado 1500 to be No. 2.</p><p><blockquote>皮卡车可能是美国电动汽车普及的关键。去年，电动汽车估计占美国总销量的 4%，高于 2%。但欧洲和中国遥遥领先，渗透率仅为十几岁。到目前为止，美国人对于他们喜欢购买的车辆类型几乎没有电动选择。去年，福特 F-150 一如既往地引领美国新车销量。唯一令人惊讶的是，Ram 1500 皮卡领先于雪佛兰索罗德 1500，位居第二。</blockquote></p><p>An electric Ram will take until 2024, according to owner Stellantis (STLA), a roll-up of American, Italian, and French brands. Start-up Rivian (RIVN) says it will ship electric pickups this year, but that stock slid 11% this past Wednesday after early backer Amazon.com (AMZN) said it’s putting in an order with Ram for delivery trucks. Tesla’s Cybertruck was expected last year, but has been delayed.</p><p><blockquote>据所有者 Stellantis (STLA) 称，电动 Ram 要到 2024 年才会问世，该公司是美国、意大利和法国品牌的综合体。初创公司Rivian（RIVN）表示，今年将出货电动皮卡，但上周三，在早期支持者亚马逊（AMZN）表示将向 Ram 订购送货卡车后，该公司股价下跌了 11%。特斯拉的 Cybertruck 去年就已上市，但已被推迟。</blockquote></p><p>Pent-up vehicle demand, meanwhile, suggests that a boom is coming. Amid shortages last year, U.S. light-vehicle sales were an estimated 15.1 million units, versus closer to 17 million a year before the pandemic. Average transaction prices have soared 30% from prepandemic levels, and incentives as a percentage of prices are at record lows.</p><p><blockquote>与此同时，被压抑的汽车需求表明繁荣即将到来。由于去年出现短缺，美国轻型汽车销量估计为 1510 万辆，而疫情爆发前每年接近 1700 万辆。平均交易价格已比大流行前的水平飙升了 30%，激励措施占价格的百分比也处于历史低位。</blockquote></p><p>This year, expect unit sales to rise only modestly, but by next year, when showrooms are full and pricing has eased, units could jump to 18 million, Credit Suisse says. EV penetration in the U.S. will double again this year to 8%, and top 50% by 2030, it adds.</p><p><blockquote>瑞士信贷表示，今年预计销量只会小幅增长，但到明年，当展厅爆满且定价放缓时，销量可能会跃升至 1800 万辆。它补充说，美国的电动汽车渗透率今年将再次翻一番，达到 8%，到 2030 年将达到 50%。</blockquote></p><p>One risk for legacy car makers is that they will run to stand still—that they must ramp up EV units with low profit margins for now to offset coming losses in high-margin gasoline models.</p><p><blockquote>传统汽车制造商面临的一个风险是，他们将停滞不前——他们目前必须增加利润率较低的电动汽车，以抵消高利润率汽油车型即将出现的损失。</blockquote></p><p>On the other hand, car makers could shift capacity from gasoline vehicles to electric ones ahead of customers’ willingness to make the switch. That could leave gas vehicles with high prices and profit margins, creating a long, lucrative “farewell tour,” as Morgan Stanley analyst Adam Jonas puts it.</p><p><blockquote>另一方面，汽车制造商可以在客户愿意转向电动汽车之前，将产能从汽油车转移到电动汽车。正如摩根士丹利（Morgan Stanley）分析师亚当-乔纳斯（Adam Jonas）所说，这可能会使汽油车的价格和利润率居高不下，从而造成一段漫长而利润丰厚的 “告别之旅”。</blockquote></p><p>Valuations appear undemanding. Ford goes for 12 times projected earnings, despite doubling in price last year. GM sells for nine times.</p><p><blockquote>估值似乎要求不高。尽管去年的价格翻了一番，但福特的盈利仍是预期的 12 倍。通用汽车的销量是原来的九倍。</blockquote></p><p>The bull case on Tesla is that it will do big things in both cars and adjacent markets. Philippe Houchois, who covers the stock for Jefferies, sees 35% upside from recent levels, to $1,400. Tesla lags behind legacy rivals on things like build quality and finish, but those are solvable problems, he says. It leads on software, batteries, and autonomy, which are durable advantages. He sees Tesla using software to extend the usefulness and profit potential of vehicles.</p><p><blockquote>特斯拉的看涨理由是，它将在汽车和邻近市场大展身手。杰富瑞 (Jefferies) 负责该股的 Philippe Houchois 认为，该股较近期水平上涨 35%，至 1,400 美元。他说，特斯拉在制造质量和表面处理等方面落后于传统竞争对手，但这些都是可以解决的问题。它在软件、电池和自主性方面处于领先地位，这些都是持久的优势。他认为特斯拉正在利用软件来扩展车辆的实用性和利润潜力。</blockquote></p><p>Most versions of the Tesla bear case assume that the company will do well in cars, but not well enough to justify a market value above $1 trillion. For example, J.P. Morgan’s Ryan Brinkman calls his price target of $295 “not ungenerous,” even though it implies a 70% stock plunge, because it values Tesla slightly ahead of world leader Toyota Motor (TM), despite producing a tenth as many cars for now.</p><p><blockquote>大多数版本的特斯拉贝尔案例都假设该公司在汽车领域会表现出色，但还不足以证明其超过 1 万亿美元的市值是合理的。例如，摩根大通（J.P. Morgan）的 Ryan Brinkman 评级，他将 295 美元的目标价定为 “并不慷慨”，尽管这意味着股价将暴跌 70%，因为特斯拉的估值略高于世界领先的丰田汽车（TM），尽管丰田汽车目前的产量只有丰田汽车的十分之一。</blockquote></p><p></p><p>Then there’s Gordon Johnson. He worked at large investment banks before starting GLJ Research, where he covers 20 stocks. He’s bullish on uranium stocks and bearish on cannabis, but all anyone wants to talk about, he says, is his $67 price target on Tesla. “I’ve gotten death threats,” he says. “Now I don’t even answer the phone when I have unknown calls.”</p><p><blockquote>然后是戈登-约翰逊。在开始 GLJ Research 之前，他曾在大型投资银行工作，在那里他研究了 20 只股票。他看好铀股，看跌大麻，但他说，大家只想谈论他对特斯拉的 67 美元目标价。“他说：”我收到了死亡威胁。“现在，当我有未知评级时，我甚至不接电话。”</blockquote></p><p>In Johnson’s view, there’s no reason to assume Tesla will do well in adjacent businesses. “You could take McDonald’s and say they’re going to start selling Nikes and chairs and pianos and add those valuations,” he says. In cars, he calculates that the stock price implies a production ramp-up that no car maker could achieve. “Selling cars is not selling iPhones or shirts,” he says.</p><p><blockquote>在约翰逊看来，没有理由认为特斯拉会在邻近业务中表现出色。“他说：”你可以拿麦当劳来说，他们将开始销售耐克鞋、椅子和钢琴，然后增加这些估值。在汽车方面，他计算出股价意味着任何汽车制造商都无法实现的产量增长。“他说：”卖车不是卖 iPhone 或衬衫。</blockquote></p><p>If Tesla’s three-year stock gain of nearly 1,400% has shaken Johnson’s confidence, it doesn’t show. After walking me through his valuation model, he said he’s concerned that his price target might be too high.</p><p><blockquote>如果说特斯拉三年内近 1400% 的股价涨幅动摇了约翰逊的信心，那么约翰逊的信心并没有显现出来。在向我介绍了他的估值模型后，他说他担心他的目标价可能太高。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/articles/tesla-ford-rivian-gm-stock-51641597012?mod=mw_quote_news\">Barrons</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":{"GM":"通用汽车","F":"福特汽车","RIVN":"Rivian Automotive, Inc.","TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/articles/tesla-ford-rivian-gm-stock-51641597012?mod=mw_quote_news","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1199490797","content_text":"Who needs parody cryptocurrency when car stocks are this exciting? Ford Motor, General Motors, Tesla, and Rivian Automotive each had price swings of more than 10% during the first trading week of the year. This, after some heady gains for the group last year.Predicting performance from here won’t be easy. I recently spoke with one analyst who says Tesla stock (ticker: TSLA) is headed to $1,400, and another who says $67. You know what they say: Sometimes you have to agree to disagree by a factor of 20.Tesla made the first big move, jumping 13.5% on Monday after the company reported fourth-quarter deliveries of 308,600 vehicles, trouncing estimates and its own record. Next, Ford (F) gained 11.7% on Tuesday after it announced that it would raise production of its first electric pickup, the F-150 Lightning, to 150,000 units a year.By that point in the week, General Motors stock (GM) was already up 12% in anticipation of its Chevy Silverado electric pickup truck unveiling, planned for Wednesday at the Consumer Electronics Show. But on the day of the announcement, shares slipped. Maybe investors were disappointed in the delivery timing, or maybe it was because the broad market tanked on signs that interest rates could rise sooner than expected.What the Ford and Chevy pickups have in common is that they will target workers as well as suburban preeners in unblemished Carhartt jackets. Early versions will be priced around $40,000 and $100,000.The Chevy wins on electric specs—longer battery range and faster charging. But Ford wins on bringing its truck to market this spring. Chevy buyers will have to wait until spring 2023 for the cheaper truck and fall 2023 for the decked-out one. GM will also debut electric Chevy sport utility vehicles in 2023, including an Equinox that will start at $30,000.Pickup trucks could be the key to America’s electric-vehicle uptake. Last year, EVs hit an estimated 4% of total U.S. sales, up from 2%. But Europe and China are well ahead, with penetration rates in the low teens. Americans have so far had few electric choices for the types of vehicles they like to buy. Last year, the Ford F-150 led U.S. new-vehicle sales, as always. The only surprise was that the Ram 1500 pickup pulled ahead of the Chevy Silverado 1500 to be No. 2.An electric Ram will take until 2024, according to owner Stellantis (STLA), a roll-up of American, Italian, and French brands. Start-up Rivian (RIVN) says it will ship electric pickups this year, but that stock slid 11% this past Wednesday after early backer Amazon.com (AMZN) said it’s putting in an order with Ram for delivery trucks. Tesla’s Cybertruck was expected last year, but has been delayed.Pent-up vehicle demand, meanwhile, suggests that a boom is coming. Amid shortages last year, U.S. light-vehicle sales were an estimated 15.1 million units, versus closer to 17 million a year before the pandemic. Average transaction prices have soared 30% from prepandemic levels, and incentives as a percentage of prices are at record lows.This year, expect unit sales to rise only modestly, but by next year, when showrooms are full and pricing has eased, units could jump to 18 million, Credit Suisse says. EV penetration in the U.S. will double again this year to 8%, and top 50% by 2030, it adds.One risk for legacy car makers is that they will run to stand still—that they must ramp up EV units with low profit margins for now to offset coming losses in high-margin gasoline models.On the other hand, car makers could shift capacity from gasoline vehicles to electric ones ahead of customers’ willingness to make the switch. That could leave gas vehicles with high prices and profit margins, creating a long, lucrative “farewell tour,” as Morgan Stanley analyst Adam Jonas puts it.Valuations appear undemanding. Ford goes for 12 times projected earnings, despite doubling in price last year. GM sells for nine times.The bull case on Tesla is that it will do big things in both cars and adjacent markets. Philippe Houchois, who covers the stock for Jefferies, sees 35% upside from recent levels, to $1,400. Tesla lags behind legacy rivals on things like build quality and finish, but those are solvable problems, he says. It leads on software, batteries, and autonomy, which are durable advantages. He sees Tesla using software to extend the usefulness and profit potential of vehicles.Most versions of the Tesla bear case assume that the company will do well in cars, but not well enough to justify a market value above $1 trillion. For example, J.P. Morgan’s Ryan Brinkman calls his price target of $295 “not ungenerous,” even though it implies a 70% stock plunge, because it values Tesla slightly ahead of world leader Toyota Motor (TM), despite producing a tenth as many cars for now.Then there’s Gordon Johnson. He worked at large investment banks before starting GLJ Research, where he covers 20 stocks. He’s bullish on uranium stocks and bearish on cannabis, but all anyone wants to talk about, he says, is his $67 price target on Tesla. “I’ve gotten death threats,” he says. “Now I don’t even answer the phone when I have unknown calls.”In Johnson’s view, there’s no reason to assume Tesla will do well in adjacent businesses. “You could take McDonald’s and say they’re going to start selling Nikes and chairs and pianos and add those valuations,” he says. In cars, he calculates that the stock price implies a production ramp-up that no car maker could achieve. “Selling cars is not selling iPhones or shirts,” he says.If Tesla’s three-year stock gain of nearly 1,400% has shaken Johnson’s confidence, it doesn’t show. After walking me through his valuation model, he said he’s concerned that his price target might be too high.","news_type":1,"symbols_score_info":{"RIVN":0.9,"F":0.9,"GM":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":5554,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":694043617,"gmtCreate":1641744434029,"gmtModify":1641744434241,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqqq","listText":"Qqqq","text":"Qqqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/694043617","repostId":"1129882080","repostType":4,"repost":{"id":"1129882080","kind":"news","pubTimestamp":1641605937,"share":"https://www.laohunote.com/m/news/1129882080?lang=zh_CN&edition=full","pubTime":"2022-01-08 09:38","market":"us","language":"en","title":"The Year’s First Three IPOs All Struggled. This Is Why.<blockquote>今年的前三次 IPO 都举步维艰。这就是原因。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129882080","media":"Barrons","summary":"The first initial public offerings of 2022, a trio of biotech companies, went public with dismal res","content":"<p><html><head></head><body>The first initial public offerings of 2022, a trio of biotech companies, went public with dismal results.</p><p><blockquote><html><head></head><body>三家生物技术公司于 2022 年首次公开募股上市，结果惨淡。</body></html></blockquote></p><p>Amylyx Pharmaceuticals,and Vigil Neuroscience both dropped below their issue prices while CinCor Pharma ended flat. The lackluster debuts signal that the IPO market has yet to recover from 2021’s downturn.</p><p><blockquote>Amylyx Pharmaceuticals 和 Vigil Neuroscience 的股价均低于发行价，而 CinCor Pharma 则持平。首次公开募股市场的低迷表明，IPO市场尚未从2021年的低迷中恢复过来。</blockquote></p><p>The three are the first to trade since new issues went on pause in December. After a rousing 11 months in 2021, where IPOs delivered their best year ever, inflation and Omicron issues slowed offerings in December. Only a dozen companies went public that month using a traditional IPO, down from 34 in November and 39 in October.</p><p><blockquote>这三家公司是自去年 12 月新问题暂停以来首次进行交易的公司。2021 年经历了令人兴奋的 11 个月，IPO 创下了有史以来最好的一年，但通货膨胀和奥密克戎问题减缓了 12 月份的发行速度。当月只有十几家公司通过传统 IPO 上市，低于 11 月份的 34 家和 10 月份的 39 家。</blockquote></p><p>Biotechs are less sensitive to overall market trends, said Matt Kennedy, senior IPO strategist at Renaissance Capital, enabling them to go ahead while other firms have not.</p><p><blockquote>Renaissance Capital 高级 IPO 策略师马特·肯尼迪 (Matt Kennedy) 表示，生物技术公司对整体市场趋势的敏感度较低，这使得它们能够继续前进，而其他公司则不然。</blockquote></p><p>The muted first day for Friday’s trio is a continuation of 2021’s dismal IPO returns, he said. Of the 397 companies that went public in 2021 using a traditional IPO, roughly 31%, or 121, are trading above their offer price, he said. This means 69% are below their IPO price.</p><p><blockquote>他说，周五三家公司首日表现平淡，是 2021 年 IPO 回报惨淡的延续。他说，在 2021 年使用传统 IPO 上市的 397 家公司中，大约 31%（即 121 家）的交易价格高于发行价。这意味着 69% 的股价低于 IPO 价格。</blockquote></p><p>The performance of 2021’s class of biotechs is worse. Of the 94 companies that listed last year, only 15 are trading above their issue price, Kennedy said. Some investors are still “holding out hope for a pop,” he said, but there isn’t much demand for new deals right now. “There’s only so long that goes on before initial investors stop showing up, and then we may see a pause in activity,” he said.</p><p><blockquote>2021 届生物技术专业的表现更差。肯尼迪说，在去年上市的94家公司中，只有15家的交易价格高于发行价。他说，一些投资者仍然 “对流行抱有希望”，但目前对新交易的需求并不大。“他说：”在最初的投资者停止出现之前，只持续了很长时间，然后我们可能会看到活动暂停。</blockquote></p><p>A key pointmay come next week, when two high-profile deals are set to open. TPG,a large private-equity firm, and Justworks, an HR software company, are both scheduled to trade. If the companies end up slashing their price ranges, that would indicate the IPO market is challenging even for profitable companies, Kennedy said. “You don’t come off a year like 2021 and get back to normal in just a few weeks. We need to see [recent IPOs] returns improve before we can expect normal deal flow,” he  said.</p><p><blockquote>一个关键点可能会在下周到来，届时两笔备受瞩目的交易将开始。大型私募股权公司TPG和人力资源软件公司Justworks都计划进行交易。肯尼迪说，如果这些公司最终大幅削减价格范围，这将表明即使对于盈利的公司来说，IPO市场也充满挑战。“他说：”你不可能像 2021 年那样度过一年，然后在短短几周内就恢复正常。我们需要看到（最近 IPO）的回报率有所提高，然后才能期待正常的交易流动。</blockquote></p><p>Cincor (ticker:CINC), which is developing therapies to treat hypertension and other cardio-renal diseases, was the first to open Friday. Cincor raised nearly $194 million after selling 12.1 million shares at $16. It had filed to offer 11 million shares priced at $15 to $17. Shares kicked off at $21 and dropped, frequently trading above and below the $16 IPO price before closing at that level.</p><p><blockquote>Cincor（股票代码：CINC）正在开发治疗高血压和其他心肾疾病的疗法，该公司于周五率先开业。Cincor 以 16 美元的价格出售 1210 万股股票，筹集了近 1.94 亿美元。该公司已申请发行 1100 万股股票，价格为 15 至 17 美元。股价开盘价为 21 美元，随后下跌，在收盘价之前，经常在 16 美元的 IPO 价格上下交易价格。</blockquote></p><p>Shares of Amylyx (AMLX), meanwhile, kicked off at $21 and ended the day at $18.07, nearly 5% below its issue price. Amylyx is focused on therapies to treat ALS and other neurodegenerative diseases. Amylyx, which also boosted the size of its deal,raised $190 million after selling 10 million shares priced at $19 each. It had planned on offering 8.75 million at $18 to $20.</p><p><blockquote>与此同时，Amylyx (AMLX) 的股价开盘价为 21 美元，收盘价为 18.07 美元，比发行价低近 5%。Amylyx专注于治疗ALS和其他神经退行性疾病的疗法。Amylyx 也扩大了交易规模，在以每股 19 美元的价格出售 1000 万股股票后筹集了 1.9 亿美元。该公司原计划以 18 至 20 美元的价格发行 875 万股。</blockquote></p><p>Vigil (VIGL), which aims to provide treatments for neurodegenerative diseases,collected $98 million after selling 7 million shares at $14, below its $15-to-$17 price range. Vigil opened at $12, below its IPO price, and closed down nearly 10% to $12.65.</p><p><blockquote>Vigil (VIGL) 旨在为神经退行性疾病提供治疗，该公司以 14 美元的价格出售了 700 万股股票，筹集了 9800 万美元，低于 15 至 17 美元的价格范围。Vigil 开盘价为 12 美元，低于 IPO 价格，收盘下跌近 10%，至 12.65 美元。</blockquote></p><p>Jordan Stuart, a market strategist for the Federated Hermes Kaufmann funds that focus on small-, mid-, and large-cap companies and invests in IPOs, has one word of advice for investors: patience.</p><p><blockquote>乔丹·斯图尔特 (Jordan Stuart) 是 Federated Hermes Kaufmann funds 的市场策略师，该基金专注于小型、中型和大型市值公司并投资 IPO，他给投资者的建议只有一个：耐心。</blockquote></p><p>Many biotechs went public in 2021 at a very early stage and it may make sense to wait for a “timing catalyst” before investing, Stuart said. He pointed to Federated’s experience with Moderna(MRNA), which went public in 2018. Federated passed on buying into the IPO “because there was nothing urgent” to prompt their investment, Stuart said.</p><p><blockquote>斯图尔特说，许多生物技术公司在 2021 年很早就上市了，在投资之前等待 “时机催化剂 ”可能是有意义的。他指出了 Federated 在 2018 年上市的 Moderna（MRNA）方面的经验。斯图尔特说，Federated 放弃了购买 IPO，“因为没有什么紧急情况 ”促使他们进行投资。</blockquote></p><p>But in January 2020, the Centers for Disease Control and Prevention, or CDC, detected the first U.S. case of Covid-19, and by March, businesses across the nation were closing in an attempt to stop the spread of the virus. Federated invested in Moderna in the first quarter of 2020 at around $30 a share, Stuart said.</p><p><blockquote>但在2020年1月，疾病控制和预防中心（CDC）发现了美国首例新冠肺炎病例，到3月，全国各地的企业都在关闭，试图阻止病毒的传播。Stuart 表示，Federated 在 2020 年第一季度以每股 30 美元左右的价格投资了 Moderna。</blockquote></p><p>The biotech’s Covid-19 vaccine received emergency-use authorization by the FDA later that year, in December. Moderna’s stock hit a high of $384.86 in September and is now trading at $213.58. Federated, across its funds, owned a significant stake in Moderna as of Sept. 30, Stuart said.</p><p><blockquote>同年 12 月晚些时候，该生物技术公司的 Covid-19 疫苗获得了美国食品和药物管理局的紧急使用授权。Moderna 的股价在 9 月份创下 384.86 美元的高点，目前交易价格为 213.58 美元。斯图尔特表示，截至 9 月 30 日，Federated 旗下基金持有 Moderna 的大量股份。</blockquote></p><p>While the investment manager may have left some money on the table by waiting, Stuart estimates that Federated has made from five to 10 times its money with its Moderna investment. “It’s good that companies are coming out very early. But given the heat of last year’s IPO market, patience can be a virtue,” he said.</p><p><blockquote>虽然投资经理可能通过等待留下了一些钱，但斯图尔特估计，Federated 的 Moderna 投资已经赚了 5 到 10 倍。“公司很早就上市是件好事。但考虑到去年 IPO 市场的火爆，耐心也是一种美德，”他说。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","source":"lsy1601382232898","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>The Year’s First Three IPOs All Struggled. This Is Why.<blockquote>今年的前三次 IPO 都举步维艰。这就是原因。</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\">\nThe Year’s First Three IPOs All Struggled. This Is Why.<blockquote>今年的前三次 IPO 都举步维艰。这就是原因。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2022-01-08 09:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The first initial public offerings of 2022, a trio of biotech companies, went public with dismal results.</p><p><blockquote><html><head></head><body>三家生物技术公司于 2022 年首次公开募股上市，结果惨淡。</body></html></blockquote></p><p>Amylyx Pharmaceuticals,and Vigil Neuroscience both dropped below their issue prices while CinCor Pharma ended flat. The lackluster debuts signal that the IPO market has yet to recover from 2021’s downturn.</p><p><blockquote>Amylyx Pharmaceuticals 和 Vigil Neuroscience 的股价均低于发行价，而 CinCor Pharma 则持平。首次公开募股市场的低迷表明，IPO市场尚未从2021年的低迷中恢复过来。</blockquote></p><p>The three are the first to trade since new issues went on pause in December. After a rousing 11 months in 2021, where IPOs delivered their best year ever, inflation and Omicron issues slowed offerings in December. Only a dozen companies went public that month using a traditional IPO, down from 34 in November and 39 in October.</p><p><blockquote>这三家公司是自去年 12 月新问题暂停以来首次进行交易的公司。2021 年经历了令人兴奋的 11 个月，IPO 创下了有史以来最好的一年，但通货膨胀和奥密克戎问题减缓了 12 月份的发行速度。当月只有十几家公司通过传统 IPO 上市，低于 11 月份的 34 家和 10 月份的 39 家。</blockquote></p><p>Biotechs are less sensitive to overall market trends, said Matt Kennedy, senior IPO strategist at Renaissance Capital, enabling them to go ahead while other firms have not.</p><p><blockquote>Renaissance Capital 高级 IPO 策略师马特·肯尼迪 (Matt Kennedy) 表示，生物技术公司对整体市场趋势的敏感度较低，这使得它们能够继续前进，而其他公司则不然。</blockquote></p><p>The muted first day for Friday’s trio is a continuation of 2021’s dismal IPO returns, he said. Of the 397 companies that went public in 2021 using a traditional IPO, roughly 31%, or 121, are trading above their offer price, he said. This means 69% are below their IPO price.</p><p><blockquote>他说，周五三家公司首日表现平淡，是 2021 年 IPO 回报惨淡的延续。他说，在 2021 年使用传统 IPO 上市的 397 家公司中，大约 31%（即 121 家）的交易价格高于发行价。这意味着 69% 的股价低于 IPO 价格。</blockquote></p><p>The performance of 2021’s class of biotechs is worse. Of the 94 companies that listed last year, only 15 are trading above their issue price, Kennedy said. Some investors are still “holding out hope for a pop,” he said, but there isn’t much demand for new deals right now. “There’s only so long that goes on before initial investors stop showing up, and then we may see a pause in activity,” he said.</p><p><blockquote>2021 届生物技术专业的表现更差。肯尼迪说，在去年上市的94家公司中，只有15家的交易价格高于发行价。他说，一些投资者仍然 “对流行抱有希望”，但目前对新交易的需求并不大。“他说：”在最初的投资者停止出现之前，只持续了很长时间，然后我们可能会看到活动暂停。</blockquote></p><p>A key pointmay come next week, when two high-profile deals are set to open. TPG,a large private-equity firm, and Justworks, an HR software company, are both scheduled to trade. If the companies end up slashing their price ranges, that would indicate the IPO market is challenging even for profitable companies, Kennedy said. “You don’t come off a year like 2021 and get back to normal in just a few weeks. We need to see [recent IPOs] returns improve before we can expect normal deal flow,” he  said.</p><p><blockquote>一个关键点可能会在下周到来，届时两笔备受瞩目的交易将开始。大型私募股权公司TPG和人力资源软件公司Justworks都计划进行交易。肯尼迪说，如果这些公司最终大幅削减价格范围，这将表明即使对于盈利的公司来说，IPO市场也充满挑战。“他说：”你不可能像 2021 年那样度过一年，然后在短短几周内就恢复正常。我们需要看到（最近 IPO）的回报率有所提高，然后才能期待正常的交易流动。</blockquote></p><p>Cincor (ticker:CINC), which is developing therapies to treat hypertension and other cardio-renal diseases, was the first to open Friday. Cincor raised nearly $194 million after selling 12.1 million shares at $16. It had filed to offer 11 million shares priced at $15 to $17. Shares kicked off at $21 and dropped, frequently trading above and below the $16 IPO price before closing at that level.</p><p><blockquote>Cincor（股票代码：CINC）正在开发治疗高血压和其他心肾疾病的疗法，该公司于周五率先开业。Cincor 以 16 美元的价格出售 1210 万股股票，筹集了近 1.94 亿美元。该公司已申请发行 1100 万股股票，价格为 15 至 17 美元。股价开盘价为 21 美元，随后下跌，在收盘价之前，经常在 16 美元的 IPO 价格上下交易价格。</blockquote></p><p>Shares of Amylyx (AMLX), meanwhile, kicked off at $21 and ended the day at $18.07, nearly 5% below its issue price. Amylyx is focused on therapies to treat ALS and other neurodegenerative diseases. Amylyx, which also boosted the size of its deal,raised $190 million after selling 10 million shares priced at $19 each. It had planned on offering 8.75 million at $18 to $20.</p><p><blockquote>与此同时，Amylyx (AMLX) 的股价开盘价为 21 美元，收盘价为 18.07 美元，比发行价低近 5%。Amylyx专注于治疗ALS和其他神经退行性疾病的疗法。Amylyx 也扩大了交易规模，在以每股 19 美元的价格出售 1000 万股股票后筹集了 1.9 亿美元。该公司原计划以 18 至 20 美元的价格发行 875 万股。</blockquote></p><p>Vigil (VIGL), which aims to provide treatments for neurodegenerative diseases,collected $98 million after selling 7 million shares at $14, below its $15-to-$17 price range. Vigil opened at $12, below its IPO price, and closed down nearly 10% to $12.65.</p><p><blockquote>Vigil (VIGL) 旨在为神经退行性疾病提供治疗，该公司以 14 美元的价格出售了 700 万股股票，筹集了 9800 万美元，低于 15 至 17 美元的价格范围。Vigil 开盘价为 12 美元，低于 IPO 价格，收盘下跌近 10%，至 12.65 美元。</blockquote></p><p>Jordan Stuart, a market strategist for the Federated Hermes Kaufmann funds that focus on small-, mid-, and large-cap companies and invests in IPOs, has one word of advice for investors: patience.</p><p><blockquote>乔丹·斯图尔特 (Jordan Stuart) 是 Federated Hermes Kaufmann funds 的市场策略师，该基金专注于小型、中型和大型市值公司并投资 IPO，他给投资者的建议只有一个：耐心。</blockquote></p><p>Many biotechs went public in 2021 at a very early stage and it may make sense to wait for a “timing catalyst” before investing, Stuart said. He pointed to Federated’s experience with Moderna(MRNA), which went public in 2018. Federated passed on buying into the IPO “because there was nothing urgent” to prompt their investment, Stuart said.</p><p><blockquote>斯图尔特说，许多生物技术公司在 2021 年很早就上市了，在投资之前等待 “时机催化剂 ”可能是有意义的。他指出了 Federated 在 2018 年上市的 Moderna（MRNA）方面的经验。斯图尔特说，Federated 放弃了购买 IPO，“因为没有什么紧急情况 ”促使他们进行投资。</blockquote></p><p>But in January 2020, the Centers for Disease Control and Prevention, or CDC, detected the first U.S. case of Covid-19, and by March, businesses across the nation were closing in an attempt to stop the spread of the virus. Federated invested in Moderna in the first quarter of 2020 at around $30 a share, Stuart said.</p><p><blockquote>但在2020年1月，疾病控制和预防中心（CDC）发现了美国首例新冠肺炎病例，到3月，全国各地的企业都在关闭，试图阻止病毒的传播。Stuart 表示，Federated 在 2020 年第一季度以每股 30 美元左右的价格投资了 Moderna。</blockquote></p><p>The biotech’s Covid-19 vaccine received emergency-use authorization by the FDA later that year, in December. Moderna’s stock hit a high of $384.86 in September and is now trading at $213.58. Federated, across its funds, owned a significant stake in Moderna as of Sept. 30, Stuart said.</p><p><blockquote>同年 12 月晚些时候，该生物技术公司的 Covid-19 疫苗获得了美国食品和药物管理局的紧急使用授权。Moderna 的股价在 9 月份创下 384.86 美元的高点，目前交易价格为 213.58 美元。斯图尔特表示，截至 9 月 30 日，Federated 旗下基金持有 Moderna 的大量股份。</blockquote></p><p>While the investment manager may have left some money on the table by waiting, Stuart estimates that Federated has made from five to 10 times its money with its Moderna investment. “It’s good that companies are coming out very early. But given the heat of last year’s IPO market, patience can be a virtue,” he said.</p><p><blockquote>虽然投资经理可能通过等待留下了一些钱，但斯图尔特估计，Federated 的 Moderna 投资已经赚了 5 到 10 倍。“公司很早就上市是件好事。但考虑到去年 IPO 市场的火爆，耐心也是一种美德，”他说。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/2022-ipos-fall-weak-51641580444?mod=hp_LATEST\">Barrons</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":{"AMLX":"Amylyx Pharmaceuticals","VIGL":"Vigil Neuroscience, Inc."},"source_url":"https://www.barrons.com/articles/2022-ipos-fall-weak-51641580444?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129882080","content_text":"The first initial public offerings of 2022, a trio of biotech companies, went public with dismal results.Amylyx Pharmaceuticals,and Vigil Neuroscience both dropped below their issue prices while CinCor Pharma ended flat. The lackluster debuts signal that the IPO market has yet to recover from 2021’s downturn.The three are the first to trade since new issues went on pause in December. After a rousing 11 months in 2021, where IPOs delivered their best year ever, inflation and Omicron issues slowed offerings in December. Only a dozen companies went public that month using a traditional IPO, down from 34 in November and 39 in October.Biotechs are less sensitive to overall market trends, said Matt Kennedy, senior IPO strategist at Renaissance Capital, enabling them to go ahead while other firms have not.The muted first day for Friday’s trio is a continuation of 2021’s dismal IPO returns, he said. Of the 397 companies that went public in 2021 using a traditional IPO, roughly 31%, or 121, are trading above their offer price, he said. This means 69% are below their IPO price.The performance of 2021’s class of biotechs is worse. Of the 94 companies that listed last year, only 15 are trading above their issue price, Kennedy said. Some investors are still “holding out hope for a pop,” he said, but there isn’t much demand for new deals right now. “There’s only so long that goes on before initial investors stop showing up, and then we may see a pause in activity,” he said.A key pointmay come next week, when two high-profile deals are set to open. TPG,a large private-equity firm, and Justworks, an HR software company, are both scheduled to trade. If the companies end up slashing their price ranges, that would indicate the IPO market is challenging even for profitable companies, Kennedy said. “You don’t come off a year like 2021 and get back to normal in just a few weeks. We need to see [recent IPOs] returns improve before we can expect normal deal flow,” he  said.Cincor (ticker:CINC), which is developing therapies to treat hypertension and other cardio-renal diseases, was the first to open Friday. Cincor raised nearly $194 million after selling 12.1 million shares at $16. It had filed to offer 11 million shares priced at $15 to $17. Shares kicked off at $21 and dropped, frequently trading above and below the $16 IPO price before closing at that level.Shares of Amylyx (AMLX), meanwhile, kicked off at $21 and ended the day at $18.07, nearly 5% below its issue price. Amylyx is focused on therapies to treat ALS and other neurodegenerative diseases. Amylyx, which also boosted the size of its deal,raised $190 million after selling 10 million shares priced at $19 each. It had planned on offering 8.75 million at $18 to $20.Vigil (VIGL), which aims to provide treatments for neurodegenerative diseases,collected $98 million after selling 7 million shares at $14, below its $15-to-$17 price range. Vigil opened at $12, below its IPO price, and closed down nearly 10% to $12.65.Jordan Stuart, a market strategist for the Federated Hermes Kaufmann funds that focus on small-, mid-, and large-cap companies and invests in IPOs, has one word of advice for investors: patience.Many biotechs went public in 2021 at a very early stage and it may make sense to wait for a “timing catalyst” before investing, Stuart said. He pointed to Federated’s experience with Moderna(MRNA), which went public in 2018. Federated passed on buying into the IPO “because there was nothing urgent” to prompt their investment, Stuart said.But in January 2020, the Centers for Disease Control and Prevention, or CDC, detected the first U.S. case of Covid-19, and by March, businesses across the nation were closing in an attempt to stop the spread of the virus. Federated invested in Moderna in the first quarter of 2020 at around $30 a share, Stuart said.The biotech’s Covid-19 vaccine received emergency-use authorization by the FDA later that year, in December. Moderna’s stock hit a high of $384.86 in September and is now trading at $213.58. Federated, across its funds, owned a significant stake in Moderna as of Sept. 30, Stuart said.While the investment manager may have left some money on the table by waiting, Stuart estimates that Federated has made from five to 10 times its money with its Moderna investment. “It’s good that companies are coming out very early. But given the heat of last year’s IPO market, patience can be a virtue,” he said.","news_type":1,"symbols_score_info":{"VIGL":0.9,"AMLX":0.9,"CINC":0.9}},"isVote":1,"tweetType":1,"viewCount":3713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695775599,"gmtCreate":1641639144236,"gmtModify":1641639144846,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqq","listText":"Qqq","text":"Qqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/695775599","repostId":"2201243576","repostType":4,"isVote":1,"tweetType":1,"viewCount":3895,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695465090,"gmtCreate":1641551135051,"gmtModify":1641551148906,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqq","listText":"Qqq","text":"Qqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/695465090","repostId":"1139066323","repostType":4,"repost":{"id":"1139066323","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":1641546224,"share":"https://www.laohunote.com/m/news/1139066323?lang=zh_CN&edition=full","pubTime":"2022-01-07 17:03","market":"us","language":"en","title":"Meme Stocks Rallied in Premarket Trading, with Gamestop Rising Nearly 20% and AMC Rising Over 8%<blockquote>Meme 股票在盘前交易中上涨，游戏驿站上涨近 20%，AMC 上涨超过 8%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139066323","media":"Tiger Newspress","summary":"Meme stocks rallied in premarket trading, with Gamestop rising nearly 20% and AMC rising over 8%.Gam","content":"<p><html><head></head><body>Meme stocks rallied in premarket trading, with Gamestop rising nearly 20% and AMC rising over 8%.</p><p><blockquote><html><head></head><body>Meme 股票在盘前交易中上涨，游戏驿站上涨近 20%，AMC 上涨超过 8%。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/4090e6fb704a06370b2b0985bc42cd7d\" tg-width=\"773\" tg-height=\"563\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/76d40ccaec8c020a4386cd67b5ae5dea\" tg-width=\"768\" tg-height=\"564\" referrerpolicy=\"no-referrer\"/>GameStop is developing an online hub for buying, selling and trading NFTs of virtual videogame goods such as avatar outfits and weapons.</p><p><blockquote>游戏驿站正在开发一个在线中心，用于购买、销售和交易虚拟视频游戏商品的NFT，如头像服装和武器。</blockquote></p><p>GameStopCorp. is launching a division to develop a marketplace for nonfungible tokens and establish cryptocurrency partnerships, according to people familiar with its plans, pushing the company into much-hyped areas as it tries to turn around its core videogame business.</p><p><blockquote>游戏停止公司。据知情人士透露，该公司正在成立一个部门，开发不可替代代币市场并建立加密货币合作伙伴关系，在试图扭转其核心视频游戏业务时，将该公司推向大肆宣传的领域。</blockquote></p><p></body></html></p><p><blockquote></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>Meme Stocks Rallied in Premarket Trading, with Gamestop Rising Nearly 20% and AMC Rising Over 8%<blockquote>Meme 股票在盘前交易中上涨，游戏驿站上涨近 20%，AMC 上涨超过 8%</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\">\nMeme Stocks Rallied in Premarket Trading, with Gamestop Rising Nearly 20% and AMC Rising Over 8%<blockquote>Meme 股票在盘前交易中上涨，游戏驿站上涨近 20%，AMC 上涨超过 8%</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\">2022-01-07 17:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Meme stocks rallied in premarket trading, with Gamestop rising nearly 20% and AMC rising over 8%.</p><p><blockquote><html><head></head><body>Meme 股票在盘前交易中上涨，游戏驿站上涨近 20%，AMC 上涨超过 8%。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/4090e6fb704a06370b2b0985bc42cd7d\" tg-width=\"773\" tg-height=\"563\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/76d40ccaec8c020a4386cd67b5ae5dea\" tg-width=\"768\" tg-height=\"564\" referrerpolicy=\"no-referrer\"/>GameStop is developing an online hub for buying, selling and trading NFTs of virtual videogame goods such as avatar outfits and weapons.</p><p><blockquote>游戏驿站正在开发一个在线中心，用于购买、销售和交易虚拟视频游戏商品的NFT，如头像服装和武器。</blockquote></p><p>GameStopCorp. is launching a division to develop a marketplace for nonfungible tokens and establish cryptocurrency partnerships, according to people familiar with its plans, pushing the company into much-hyped areas as it tries to turn around its core videogame business.</p><p><blockquote>游戏停止公司。据知情人士透露，该公司正在成立一个部门，开发不可替代代币市场并建立加密货币合作伙伴关系，在试图扭转其核心视频游戏业务时，将该公司推向大肆宣传的领域。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","AMC":"AMC院线"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139066323","content_text":"Meme stocks rallied in premarket trading, with Gamestop rising nearly 20% and AMC rising over 8%.GameStop is developing an online hub for buying, selling and trading NFTs of virtual videogame goods such as avatar outfits and weapons.GameStopCorp. is launching a division to develop a marketplace for nonfungible tokens and establish cryptocurrency partnerships, according to people familiar with its plans, pushing the company into much-hyped areas as it tries to turn around its core videogame business.","news_type":1,"symbols_score_info":{"GME":0.9,"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1197,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695660339,"gmtCreate":1641446191327,"gmtModify":1641446191576,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqqq","listText":"Qqqq","text":"Qqqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/695660339","repostId":"2201251089","repostType":4,"isVote":1,"tweetType":1,"viewCount":1557,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695146184,"gmtCreate":1641379389222,"gmtModify":1641379389379,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqqq","listText":"Qqqq","text":"Qqqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/695146184","repostId":"1186447502","repostType":4,"repost":{"id":"1186447502","kind":"news","pubTimestamp":1641369119,"share":"https://www.laohunote.com/m/news/1186447502?lang=zh_CN&edition=full","pubTime":"2022-01-05 15:51","market":"us","language":"en","title":"Roku stock forecast: Where next for the streaming pioneer?<blockquote>Roku股票预测：流媒体先驱的下一步是什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1186447502","media":"Capital.com","summary":"Roku is one of the pioneers of streaming television – and it continues to benefit from this increasi","content":"<p><html><head></head><body>Roku is one of the pioneers of streaming television – and it continues to benefit from this increasingly popular way to watch programmes.</p><p><blockquote><html><head></head><body>Roku是流媒体电视的先驱之一，它将继续受益于这种日益流行的观看节目方式。</body></html></blockquote></p><p>The San Jose, California-based company, which celebrates its 20th anniversary in October 2022, makes a variety of digital media players, runs an advertising business, and licences its hardware and software.</p><p><blockquote>这家总部位于加利福尼亚州圣何塞的公司将于2022年10月庆祝成立20周年，生产各种数字媒体播放器，经营广告业务，并授权其硬件和软件。</blockquote></p><p>Its stock rose sharply during the first year of the Covid-19 pandemic as people were stuck at home but dipped last year due to the impact of global supply chain issues on customer growth.</p><p><blockquote>在 Covid-19 大流行的第一年，由于人们被困在家中，其股价大幅上涨，但去年由于全球供应链问题对客户增长的影响而下跌。</blockquote></p><p>What’s next for Roku? In this analysis, we take a look at the company’s recent results and seek Roku stock price predictions from equity market experts.</p><p><blockquote>Roku的下一步是什么？在本分析中，我们将了解该公司最近的业绩，并寻求股票市场专家对Roku股价的预测。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cf89b943886c1d30d4e8a8627f68ccfd\" tg-width=\"1500\" tg-height=\"642\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p><b>Roku stock analysis: Share price performance</b></p><p><blockquote><b>Roku股票分析：股价表现</b></blockquote></p><p>Roku, which is listed on NASDAQ under the symbol ‘ROKU’, was founded in October 2002 and went public on 28 September 2017.</p><p><blockquote>Roku在纳斯达克上市，股票代码为 “Roku ”，成立于 2002 年 10 月，2017 年 9 月 28 日上市。</blockquote></p><p>The company hasn’t declared or paid cash dividends on its common stock and doesn’t anticipate any cash dividends for the foreseeable future.</p><p><blockquote>公司尚未宣布或支付普通股现金股息，预计在可预见的未来也不会派发任何现金股息。</blockquote></p><p>At the time of Roku’s initial public offering (IPO), its stock price was $14 per share. Since then, it has risen 1,530% to $228.20 by the market close on 31 December 2021.</p><p><blockquote>Roku首次公开募股（IPO）时，其股价为每股 14 美元。此后，截至 2021 年 12 月 31 日收盘，股价已上涨 1,530%，至 228.20 美元。</blockquote></p><p>It had a market capitalisation of $31.13bn, according to calculations at the start of 2022 by Companiesmarketcap.com.</p><p><blockquote>根据Companiesmarketcap.com 在 2022 年初的计算，其市值为 311.3 亿美元。</blockquote></p><p>What has been Roku’s historical stock price? Roku stock has increased 68% over the past two years – from $135.99 at the start of 2020 – as it benefitted from increased potential viewers during the Covid-19 lockdowns.</p><p><blockquote>Roku的历史股价是多少？Roku股价在过去两年中上涨了 68%——从 2020 年初的 135.99 美元——因为它受益于 Covid-19 封锁期间潜在观众的增加。</blockquote></p><p>However, it’s had a tougher time more recently with the stock price down more than 30% from the start of January to the end of December 2021. It also fell 50% in the last six months of the year.</p><p><blockquote>然而，该公司最近的日子更加艰难，从 2021 年 1 月初到 12 月底，股价下跌了 30% 以上。今年最后六个月也下跌了50%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/ecf5da3a9fec542125ef0688033ce2e8\" tg-width=\"1500\" tg-height=\"898\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p><b>Roku stock news: The company’s latest results</b></p><p><blockquote><b>Roku股票新闻： 公司最新业绩</b></blockquote></p><p>Roku recently revealed results for the third quarter ending 30 September 2021 that showed a 23% year-over-year growth of active accounts to 56.4 million.</p><p><blockquote>Roku最近公布了截至2021年9月30日的第三季度业绩，显示活跃账户同比增长23%，达到5640万个。</blockquote></p><p>This represented a net increase of 1.3 million active accounts from the second quarter of the year, while streaming hours were up 0.7 billion hours to 18 billion in the period.</p><p><blockquote>这意味着与今年第二季度相比，活跃账户净增加了130万，而在此期间，流媒体时长增加了7亿小时，达到180亿小时。</blockquote></p><p>Roku also announced that total net revenue grew 51% year-over-year to $680m, while platform revenue increased 82%, year-over-year, to $583m.</p><p><blockquote>Roku还宣布，总净收入同比增长 51%，达到 6.8 亿美元，平台收入同比增长 82%，达到 5.83 亿美元。</blockquote></p><p>The company’s gross profit came in at $364m, which represented a 69% year-over-year rise, while the average revenue per user (ARPU) surpassed the milestone of $40 on a trailing 12-month basis.In its letter to shareholders,Roku stated: “As the global shift to TV streaming continues, our performance demonstrates the strength of our business fundamentals and the momentum of our platform monetisation.”</p><p><blockquote>该公司的毛利润为 3.64 亿美元，同比增长 69%，而过去 12 个月的每用户平均收入 (ARPU) 超过了 40 美元的里程碑。Roku 在致股东的信中表示： “随着全球向电视流媒体的持续转变，我们的业绩证明了我们业务基本面的实力和平台货币化的势头。”</blockquote></p><p>The letter also noted the company was making “significant progress” with traditional TV advertisers, while also expanding its total addressable market to digital-first advertisers.</p><p><blockquote>信中还指出，该公司在传统电视广告客户方面取得了 “重大进展”，同时还将其总目标市场扩展到数字优先的广告商。</blockquote></p><p>“Despite the ongoing headwinds created by the global supply chain disruptions, Roku remains well positioned as a result of our scale, brand, technology, and relentless focus on the TV streaming experience,” it added.</p><p><blockquote>“尽管全球供应链中断带来了持续的阻力，但由于我们的规模、品牌、技术以及对电视流媒体体验的不懈关注，Roku仍然处于有利地位，”该公司补充道。</blockquote></p><p><b>Roku stock value: Analysts’ view</b></p><p><blockquote><b>Roku股票价值： 分析师观点</b></blockquote></p><p>According to Morningstar, Roku is the leading streaming platform in the US by hours watched, with under 59 billion hours of content streamed in 2020.</p><p><blockquote>根据晨星公司的数据，按观看时长计算，Roku是美国领先的流媒体平台，2020 年流媒体内容时长不到 590 亿小时。</blockquote></p><p>“The firm’s eponymous operating system is used not only in Roku’s own hardware but in co-branded TVs and soundbars from manufacturers like TCL, Onn, and Hisense,” it stated. “Roku generates revenue from advertising, distribution fees, hardware sales, OS licensing, and subscription sales.”</p><p><blockquote>“该公司的同名操作系统不仅用于Roku自己的硬件，还用于 TCL、Onn 和海信等制造商的联名电视和条形音箱。”“Roku的收入来自广告、分销费、硬件销售、操作系统许可和订阅销售。”</blockquote></p><p>Neil Macker, an analyst at Morningstar, branded the third quarter results as “decent”, and pointed out the company was continuing to benefit from accounts added during the Covid-19 pandemic.</p><p><blockquote>晨星公司分析师尼尔-麦克（Neil Macker）称第三季度业绩 “不错”，并指出公司继续受益于 Covid-19 大流行期间增加的账户。</blockquote></p><p>However, he highlighted some issues. “Customer growth remains muted due in part to supply chain issues,” he wrote. “We are maintaining our $195 fair value estimate and we view the shares as materially overvalued, pricing in unrealistic expectations for growth in a very competitive market.”<b>Roku stock projection: Company’s guidance</b></p><p><blockquote>然而，他强调了一些问题。“他写道：”客户增长依然乏力，部分原因是供应链问题。“我们维持 195 美元的公允价值估计，我们认为该股被严重高估，在竞争激烈的市场中，对增长的预期是不切实际的。”<b>Roku股票预测： 公司指引</b></blockquote></p><p>So, what is the management’s expectation for Roku? In its shareholder letter, the company insisted its business fundamentals remained strong but acknowledged challenges created by global supply chain issues were likely to continue.</p><p><blockquote>那么，管理层对Roku的期望是什么？在股东信中，该公司坚称其业务基本面依然强劲，但承认全球供应链问题带来的挑战可能会持续下去。</blockquote></p><p>“These headwinds may have a broad impact on the holiday season in terms of consumer confidence, product pricing and availability, and advertising spend levels,” it stated.</p><p><blockquote>“报告称：”这些不利因素可能会对假日季产生广泛影响，包括消费者信心、产品价格和供应情况以及广告支出水平。</blockquote></p><p>While the pandemic has had different impacts on the various parts of its business, Roku maintained that the secular shift to streaming remained intact.</p><p><blockquote>虽然疫情对其业务的各个方面产生了不同的影响，但Roku坚持认为，向流媒体的长期转变仍然完好无损。</blockquote></p><p></p><p>“Our fourth quarter outlook is for strong growth with total net revenue of $893m at the midpoint (up 37% year-over-year), and total gross profit of $385m (up 26% year-over-year),” it added.The company is also investing in headcount, product development, and sales and marketing as part of its bid to drive future growth.</p><p><blockquote>“我们对第四季度的展望是强劲增长，中期净收入总额为 8.93 亿美元（同比增长 37%），毛利润总额为 3.85 亿美元（同比增长 26%）。该公司还投资于员工人数、产品开发、销售和营销，作为推动未来增长的一部分。</blockquote></p><p>“We have a relentless focus on building the best TV streaming platform that benefits audiences, content publishers, and advertisers, and we remain well positioned for the long term,” it added.</p><p><blockquote>“我们坚持不懈地致力于打造最好的电视流媒体平台，让观众、内容出版商和广告商受益，我们将长期处于有利地位，”它补充道。</blockquote></p><p><b>Roku stock forecast: Analyst sentiment and price target</b></p><p><blockquote><b>Roku股票预测：分析师情绪和价格目标</b></blockquote></p><p>Roku stock was a ‘buy’ based on the consensus views of 25 analysts compiled by MarketBeat as of 3 January 2022.</p><p><blockquote>根据 MarketBeat 截至 2022 年 1 月 3 日汇编的 25 位分析师的一致观点，Roku股票被评为 “买入 ”。</blockquote></p><p>The site pointed out that 21 of the analysts rated the stock as a ‘buy’, while two each had ‘hold’ and ‘sell’ recommendations.</p><p><blockquote>该网站指出，21 位分析师将该股评级为 “买入 ”，另有两位分析师分别给出了 “持有 ”和 “卖出 ”的建议。</blockquote></p><p>Their consensus 12-month Roku share price forecast was $395.73, which suggested a 73% upside over the $228.20 level, as at 31 December 2021.</p><p><blockquote>他们对Roku 12 个月股价的一致预测为 395.73 美元，比 2021 年 12 月 31 日的 228.20 美元水平上涨 73%。</blockquote></p><p>The highest projection was $550, while the lowest would represent a 17% fall to $190 over the coming year. The company has been rated by more than 15 analysts over the past 90 days.</p><p><blockquote>最高预测为 550 美元，而最低预测为未来一年下跌 17%，至 190 美元。过去 90 天内，超过 15 名分析师对该公司进行了评级。</blockquote></p><p><img src=\"https://static.tigerbbs.com/988cc972b11a1c07feeaf1253668e8f9\" tg-width=\"1500\" tg-height=\"1116\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p>Roku stock was an “awesome long-term (one year) investment”, according to the algorithmic forecasting of WalletInvestor as of 3 January 2022.</p><p><blockquote>根据 WalletInvestor 截至 2022 年 1 月 3 日的算法预测，Roku股票是 “绝佳的长期（一年）投资”。</blockquote></p><p>Its 12-month Roku stock price target was $363.60, which would represent a 59% premium over the $228.20 level, as at the close on 31 December 2021.</p><p><blockquote>截至 2021 年 12 月 31 日收盘，其 12 个月Roku股价目标为 363.60 美元，较 228.20 美元水平溢价 59%。</blockquote></p><p>The site believed shares could rise to as high as $495.45 by December 2023 and then up to $633.86 by December 2024. Its long term forecast for Roku stock showed it could reach $767.71 over the next three years to December 2025.</p><p><blockquote>该网站认为，到 2023 年 12 月，股价可能会升至 495.45 美元，然后到 2024 年 12 月升至 633.86 美元。其对Roku股票的长期预测显示，截至 2025 年 12 月的未来三年内，其股价可能达到 767.71 美元。</blockquote></p><p>According to WalletInvestor’s Roku stock 4-year forecast, meanwhile, the price could hit $876 by December 2026, which would represent a 284% over the $228.20 level.</p><p><blockquote>同时，根据 WalletInvestor 对Roku股票 4 年的预测，到 2026 年 12 月，股价可能会达到 876 美元，比 228.20 美元的水平高出 284%。</blockquote></p><p><b>Roku stock price prediction: What do the experts say?</b></p><p><blockquote><b>Roku股价预测：专家怎么说？</b></blockquote></p><p>Cory Carpenter, an analyst at JP Morgan, is positive on the company.</p><p><blockquote>摩根大通分析师科里·卡彭特对该公司持乐观态度。</blockquote></p><p>“We believe Roku is well positioned as TV viewing increasingly shifts to streaming, with Roku’s platform benefitting from increased demand across SVOD services,” he wrote in a note.His bullish thesis is largely driven by what he believes to be Roku’s “significant advertising opportunity”, with streaming accounting for 50% of TV viewing time for 18-34 year olds in the US, but only an estimated 10-15% of TV ad budgets.</p><p><blockquote>“他在一份说明中写道：”我们相信，随着电视观看越来越多地转向流媒体，Roku的平台将受益于 SVOD 服务需求的增长，Roku处于有利地位。他的看涨论点在很大程度上是由他认为Roku的 “重大广告机会 ”推动的，流媒体占美国 18-34 岁人群电视观看时间的 50%，但估计仅占电视广告预算的 10-15%。</blockquote></p><p>He is also optimistic about recent problems.</p><p><blockquote>他对最近的问题也持乐观态度。</blockquote></p><p>“We view the TV supply chain issues and pockets of ad spend weakness in certain supply-constrained verticals as transitory and certainly not unique to Roku,” he explained.</p><p><blockquote>“他解释说：”我们认为电视供应链问题和某些供应紧张的垂直行业的广告支出疲软是暂时的，当然不是Roku独有的。</blockquote></p><p>Carpenter also pointed out the “secular shift of TV viewing and ad dollars to streaming” remains strong and in early days. He highlighted how Roku’s management had noted how streaming accounts for 42% of TV viewing time for US adults (18-49 years old) vs. only 22% of TV ad dollars.</p><p><blockquote>卡彭特还指出，“电视收视率和广告收入向流媒体的世俗转变 ”依然强劲，而且还处于早期阶段。他强调，Roku的管理层注意到，流媒体占美国成年人（18-49 岁）电视观看时间的 42%，而电视广告收入仅占 22%。</blockquote></p><p>“We remain overweight but we are lowering our price target to $435 to reflect the near-term uncertainty,” he added. “VZIO remains our preferred name in Connected TV.”Roku might not be a global household name yet, but it’s got all the goods to make that happen over the next few years, according to Danni Hewson, financial analyst at AJ Bell.</p><p><blockquote>“他补充说：”我们仍然是跑赢大盘，但我们将目标价下调至 435 美元，以反映近期的不确定性。“VZIO 仍然是我们在互联电视领域的首选品牌。AJ Bell 的金融分析师 Danni Hewson 认为，Roku可能还不是一个全球家喻户晓的品牌，但它拥有在未来几年实现这一目标的所有条件。</blockquote></p><p>“The streaming company was one of those lockdown darlings that some investors lost faith in because of a slowing of content consumption as restrictions eased,” she told Capital.com.</p><p><blockquote>“她告诉 Capital.com：”由于限制放松，内容消费放缓，一些投资者对这家流媒体公司失去了信心。</blockquote></p><p>Hewson pointed out that revenues were up 51% in the third quarter, compared to a year earlier, and argued the advertising buy from cable TV companies shows they’ve got real faith in its outlook.</p><p><blockquote>休森指出，与去年同期相比，第三季度的收入增长了 51%，并认为有线电视公司的广告购买表明他们对有线电视公司的前景充满信心。</blockquote></p><p>“Crucially, it managed to strike a deal to keep young viewers happy with a multi-year agreement with Alphabet that keeps the YouTube app on the platform,” she said.</p><p><blockquote>“她说：”至关重要的是，它与Alphabet达成了一项多年协议，将 YouTube 应用保留在平台上，从而让年轻观众满意。</blockquote></p><p>Hewson also highlighted some recent negatives.</p><p><blockquote>休森还强调了最近的一些负面影响。</blockquote></p><p>“There have been supply issues which have impacted availability during the crucial Christmas shopping window, plus rising costs have been passed onto the consumer which is likely to have dented sales which won’t look good come fourth quarter results,” she said.So, how does Hewson see the outlook for 2022?</p><p><blockquote>“她说：”在关键的圣诞节购物窗口期，供应问题影响了供应量，再加上成本上升已经转嫁到消费者身上，这很可能会影响销售额，而第四季度的业绩公布后，销售额不会很好。那么，休森如何看待2022年的前景呢？</blockquote></p><p>“Like many growth stocks, the prospect of rate rises will make some investors wary but it’s self-titled channel is gaining in popularity, it’s working on a pretty decent roster of new content and unlikeNetflixit’s just started spreading tentacles into other countries,” she said.</p><p><blockquote>“她说：”与许多成长型股票一样，加息的前景会让一些投资者保持警惕，但它的同名频道越来越受欢迎，它正在开发一系列相当不错的新内容，与 Netflixit 不同，它刚刚开始将触角伸向其他国家。</blockquote></p><p>When looking for Roku stock predictions, it’s important to bear in mind that analysts’ forecasts and price targets for the ROKU stock can be wrong. Analysts’ projections are based on making fundamental and technical studies of the stock’s performance. Past performance is no guarantee of future results.</p><p><blockquote>在寻找Roku股票预测时，重要的是要记住分析师对Roku股票的预测和目标价可能是错误的。分析师的预测是基于对该股表现的基本面和技术面研究。过去的表现并不能保证未来的结果。</blockquote></p><p></p><p>It’s important to do your own research. Always remember that your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. And you should never invest more than you can afford to lose.</p><p><blockquote>自己做研究很重要。永远记住，你的交易决定取决于你对风险的态度、你在市场中的专业知识、你的投资组合的利差以及你对亏损的感觉。你永远不应该投资超过你能承受的损失。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","source":"lsy1641368800677","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>Roku stock forecast: Where next for the streaming pioneer?<blockquote>Roku股票预测：流媒体先驱的下一步是什么？</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\">\nRoku stock forecast: Where next for the streaming pioneer?<blockquote>Roku股票预测：流媒体先驱的下一步是什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Capital.com</strong><span class=\"h-time small\">2022-01-05 15:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Roku is one of the pioneers of streaming television – and it continues to benefit from this increasingly popular way to watch programmes.</p><p><blockquote><html><head></head><body>Roku是流媒体电视的先驱之一，它将继续受益于这种日益流行的观看节目方式。</body></html></blockquote></p><p>The San Jose, California-based company, which celebrates its 20th anniversary in October 2022, makes a variety of digital media players, runs an advertising business, and licences its hardware and software.</p><p><blockquote>这家总部位于加利福尼亚州圣何塞的公司将于2022年10月庆祝成立20周年，生产各种数字媒体播放器，经营广告业务，并授权其硬件和软件。</blockquote></p><p>Its stock rose sharply during the first year of the Covid-19 pandemic as people were stuck at home but dipped last year due to the impact of global supply chain issues on customer growth.</p><p><blockquote>在 Covid-19 大流行的第一年，由于人们被困在家中，其股价大幅上涨，但去年由于全球供应链问题对客户增长的影响而下跌。</blockquote></p><p>What’s next for Roku? In this analysis, we take a look at the company’s recent results and seek Roku stock price predictions from equity market experts.</p><p><blockquote>Roku的下一步是什么？在本分析中，我们将了解该公司最近的业绩，并寻求股票市场专家对Roku股价的预测。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cf89b943886c1d30d4e8a8627f68ccfd\" tg-width=\"1500\" tg-height=\"642\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p><b>Roku stock analysis: Share price performance</b></p><p><blockquote><b>Roku股票分析：股价表现</b></blockquote></p><p>Roku, which is listed on NASDAQ under the symbol ‘ROKU’, was founded in October 2002 and went public on 28 September 2017.</p><p><blockquote>Roku在纳斯达克上市，股票代码为 “Roku ”，成立于 2002 年 10 月，2017 年 9 月 28 日上市。</blockquote></p><p>The company hasn’t declared or paid cash dividends on its common stock and doesn’t anticipate any cash dividends for the foreseeable future.</p><p><blockquote>公司尚未宣布或支付普通股现金股息，预计在可预见的未来也不会派发任何现金股息。</blockquote></p><p>At the time of Roku’s initial public offering (IPO), its stock price was $14 per share. Since then, it has risen 1,530% to $228.20 by the market close on 31 December 2021.</p><p><blockquote>Roku首次公开募股（IPO）时，其股价为每股 14 美元。此后，截至 2021 年 12 月 31 日收盘，股价已上涨 1,530%，至 228.20 美元。</blockquote></p><p>It had a market capitalisation of $31.13bn, according to calculations at the start of 2022 by Companiesmarketcap.com.</p><p><blockquote>根据Companiesmarketcap.com 在 2022 年初的计算，其市值为 311.3 亿美元。</blockquote></p><p>What has been Roku’s historical stock price? Roku stock has increased 68% over the past two years – from $135.99 at the start of 2020 – as it benefitted from increased potential viewers during the Covid-19 lockdowns.</p><p><blockquote>Roku的历史股价是多少？Roku股价在过去两年中上涨了 68%——从 2020 年初的 135.99 美元——因为它受益于 Covid-19 封锁期间潜在观众的增加。</blockquote></p><p>However, it’s had a tougher time more recently with the stock price down more than 30% from the start of January to the end of December 2021. It also fell 50% in the last six months of the year.</p><p><blockquote>然而，该公司最近的日子更加艰难，从 2021 年 1 月初到 12 月底，股价下跌了 30% 以上。今年最后六个月也下跌了50%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/ecf5da3a9fec542125ef0688033ce2e8\" tg-width=\"1500\" tg-height=\"898\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p><b>Roku stock news: The company’s latest results</b></p><p><blockquote><b>Roku股票新闻： 公司最新业绩</b></blockquote></p><p>Roku recently revealed results for the third quarter ending 30 September 2021 that showed a 23% year-over-year growth of active accounts to 56.4 million.</p><p><blockquote>Roku最近公布了截至2021年9月30日的第三季度业绩，显示活跃账户同比增长23%，达到5640万个。</blockquote></p><p>This represented a net increase of 1.3 million active accounts from the second quarter of the year, while streaming hours were up 0.7 billion hours to 18 billion in the period.</p><p><blockquote>这意味着与今年第二季度相比，活跃账户净增加了130万，而在此期间，流媒体时长增加了7亿小时，达到180亿小时。</blockquote></p><p>Roku also announced that total net revenue grew 51% year-over-year to $680m, while platform revenue increased 82%, year-over-year, to $583m.</p><p><blockquote>Roku还宣布，总净收入同比增长 51%，达到 6.8 亿美元，平台收入同比增长 82%，达到 5.83 亿美元。</blockquote></p><p>The company’s gross profit came in at $364m, which represented a 69% year-over-year rise, while the average revenue per user (ARPU) surpassed the milestone of $40 on a trailing 12-month basis.In its letter to shareholders,Roku stated: “As the global shift to TV streaming continues, our performance demonstrates the strength of our business fundamentals and the momentum of our platform monetisation.”</p><p><blockquote>该公司的毛利润为 3.64 亿美元，同比增长 69%，而过去 12 个月的每用户平均收入 (ARPU) 超过了 40 美元的里程碑。Roku 在致股东的信中表示： “随着全球向电视流媒体的持续转变，我们的业绩证明了我们业务基本面的实力和平台货币化的势头。”</blockquote></p><p>The letter also noted the company was making “significant progress” with traditional TV advertisers, while also expanding its total addressable market to digital-first advertisers.</p><p><blockquote>信中还指出，该公司在传统电视广告客户方面取得了 “重大进展”，同时还将其总目标市场扩展到数字优先的广告商。</blockquote></p><p>“Despite the ongoing headwinds created by the global supply chain disruptions, Roku remains well positioned as a result of our scale, brand, technology, and relentless focus on the TV streaming experience,” it added.</p><p><blockquote>“尽管全球供应链中断带来了持续的阻力，但由于我们的规模、品牌、技术以及对电视流媒体体验的不懈关注，Roku仍然处于有利地位，”该公司补充道。</blockquote></p><p><b>Roku stock value: Analysts’ view</b></p><p><blockquote><b>Roku股票价值： 分析师观点</b></blockquote></p><p>According to Morningstar, Roku is the leading streaming platform in the US by hours watched, with under 59 billion hours of content streamed in 2020.</p><p><blockquote>根据晨星公司的数据，按观看时长计算，Roku是美国领先的流媒体平台，2020 年流媒体内容时长不到 590 亿小时。</blockquote></p><p>“The firm’s eponymous operating system is used not only in Roku’s own hardware but in co-branded TVs and soundbars from manufacturers like TCL, Onn, and Hisense,” it stated. “Roku generates revenue from advertising, distribution fees, hardware sales, OS licensing, and subscription sales.”</p><p><blockquote>“该公司的同名操作系统不仅用于Roku自己的硬件，还用于 TCL、Onn 和海信等制造商的联名电视和条形音箱。”“Roku的收入来自广告、分销费、硬件销售、操作系统许可和订阅销售。”</blockquote></p><p>Neil Macker, an analyst at Morningstar, branded the third quarter results as “decent”, and pointed out the company was continuing to benefit from accounts added during the Covid-19 pandemic.</p><p><blockquote>晨星公司分析师尼尔-麦克（Neil Macker）称第三季度业绩 “不错”，并指出公司继续受益于 Covid-19 大流行期间增加的账户。</blockquote></p><p>However, he highlighted some issues. “Customer growth remains muted due in part to supply chain issues,” he wrote. “We are maintaining our $195 fair value estimate and we view the shares as materially overvalued, pricing in unrealistic expectations for growth in a very competitive market.”<b>Roku stock projection: Company’s guidance</b></p><p><blockquote>然而，他强调了一些问题。“他写道：”客户增长依然乏力，部分原因是供应链问题。“我们维持 195 美元的公允价值估计，我们认为该股被严重高估，在竞争激烈的市场中，对增长的预期是不切实际的。”<b>Roku股票预测： 公司指引</b></blockquote></p><p>So, what is the management’s expectation for Roku? In its shareholder letter, the company insisted its business fundamentals remained strong but acknowledged challenges created by global supply chain issues were likely to continue.</p><p><blockquote>那么，管理层对Roku的期望是什么？在股东信中，该公司坚称其业务基本面依然强劲，但承认全球供应链问题带来的挑战可能会持续下去。</blockquote></p><p>“These headwinds may have a broad impact on the holiday season in terms of consumer confidence, product pricing and availability, and advertising spend levels,” it stated.</p><p><blockquote>“报告称：”这些不利因素可能会对假日季产生广泛影响，包括消费者信心、产品价格和供应情况以及广告支出水平。</blockquote></p><p>While the pandemic has had different impacts on the various parts of its business, Roku maintained that the secular shift to streaming remained intact.</p><p><blockquote>虽然疫情对其业务的各个方面产生了不同的影响，但Roku坚持认为，向流媒体的长期转变仍然完好无损。</blockquote></p><p></p><p>“Our fourth quarter outlook is for strong growth with total net revenue of $893m at the midpoint (up 37% year-over-year), and total gross profit of $385m (up 26% year-over-year),” it added.The company is also investing in headcount, product development, and sales and marketing as part of its bid to drive future growth.</p><p><blockquote>“我们对第四季度的展望是强劲增长，中期净收入总额为 8.93 亿美元（同比增长 37%），毛利润总额为 3.85 亿美元（同比增长 26%）。该公司还投资于员工人数、产品开发、销售和营销，作为推动未来增长的一部分。</blockquote></p><p>“We have a relentless focus on building the best TV streaming platform that benefits audiences, content publishers, and advertisers, and we remain well positioned for the long term,” it added.</p><p><blockquote>“我们坚持不懈地致力于打造最好的电视流媒体平台，让观众、内容出版商和广告商受益，我们将长期处于有利地位，”它补充道。</blockquote></p><p><b>Roku stock forecast: Analyst sentiment and price target</b></p><p><blockquote><b>Roku股票预测：分析师情绪和价格目标</b></blockquote></p><p>Roku stock was a ‘buy’ based on the consensus views of 25 analysts compiled by MarketBeat as of 3 January 2022.</p><p><blockquote>根据 MarketBeat 截至 2022 年 1 月 3 日汇编的 25 位分析师的一致观点，Roku股票被评为 “买入 ”。</blockquote></p><p>The site pointed out that 21 of the analysts rated the stock as a ‘buy’, while two each had ‘hold’ and ‘sell’ recommendations.</p><p><blockquote>该网站指出，21 位分析师将该股评级为 “买入 ”，另有两位分析师分别给出了 “持有 ”和 “卖出 ”的建议。</blockquote></p><p>Their consensus 12-month Roku share price forecast was $395.73, which suggested a 73% upside over the $228.20 level, as at 31 December 2021.</p><p><blockquote>他们对Roku 12 个月股价的一致预测为 395.73 美元，比 2021 年 12 月 31 日的 228.20 美元水平上涨 73%。</blockquote></p><p>The highest projection was $550, while the lowest would represent a 17% fall to $190 over the coming year. The company has been rated by more than 15 analysts over the past 90 days.</p><p><blockquote>最高预测为 550 美元，而最低预测为未来一年下跌 17%，至 190 美元。过去 90 天内，超过 15 名分析师对该公司进行了评级。</blockquote></p><p><img src=\"https://static.tigerbbs.com/988cc972b11a1c07feeaf1253668e8f9\" tg-width=\"1500\" tg-height=\"1116\" width=\"100%\" height=\"auto\"/></p><p><blockquote></blockquote></p><p>Roku stock was an “awesome long-term (one year) investment”, according to the algorithmic forecasting of WalletInvestor as of 3 January 2022.</p><p><blockquote>根据 WalletInvestor 截至 2022 年 1 月 3 日的算法预测，Roku股票是 “绝佳的长期（一年）投资”。</blockquote></p><p>Its 12-month Roku stock price target was $363.60, which would represent a 59% premium over the $228.20 level, as at the close on 31 December 2021.</p><p><blockquote>截至 2021 年 12 月 31 日收盘，其 12 个月Roku股价目标为 363.60 美元，较 228.20 美元水平溢价 59%。</blockquote></p><p>The site believed shares could rise to as high as $495.45 by December 2023 and then up to $633.86 by December 2024. Its long term forecast for Roku stock showed it could reach $767.71 over the next three years to December 2025.</p><p><blockquote>该网站认为，到 2023 年 12 月，股价可能会升至 495.45 美元，然后到 2024 年 12 月升至 633.86 美元。其对Roku股票的长期预测显示，截至 2025 年 12 月的未来三年内，其股价可能达到 767.71 美元。</blockquote></p><p>According to WalletInvestor’s Roku stock 4-year forecast, meanwhile, the price could hit $876 by December 2026, which would represent a 284% over the $228.20 level.</p><p><blockquote>同时，根据 WalletInvestor 对Roku股票 4 年的预测，到 2026 年 12 月，股价可能会达到 876 美元，比 228.20 美元的水平高出 284%。</blockquote></p><p><b>Roku stock price prediction: What do the experts say?</b></p><p><blockquote><b>Roku股价预测：专家怎么说？</b></blockquote></p><p>Cory Carpenter, an analyst at JP Morgan, is positive on the company.</p><p><blockquote>摩根大通分析师科里·卡彭特对该公司持乐观态度。</blockquote></p><p>“We believe Roku is well positioned as TV viewing increasingly shifts to streaming, with Roku’s platform benefitting from increased demand across SVOD services,” he wrote in a note.His bullish thesis is largely driven by what he believes to be Roku’s “significant advertising opportunity”, with streaming accounting for 50% of TV viewing time for 18-34 year olds in the US, but only an estimated 10-15% of TV ad budgets.</p><p><blockquote>“他在一份说明中写道：”我们相信，随着电视观看越来越多地转向流媒体，Roku的平台将受益于 SVOD 服务需求的增长，Roku处于有利地位。他的看涨论点在很大程度上是由他认为Roku的 “重大广告机会 ”推动的，流媒体占美国 18-34 岁人群电视观看时间的 50%，但估计仅占电视广告预算的 10-15%。</blockquote></p><p>He is also optimistic about recent problems.</p><p><blockquote>他对最近的问题也持乐观态度。</blockquote></p><p>“We view the TV supply chain issues and pockets of ad spend weakness in certain supply-constrained verticals as transitory and certainly not unique to Roku,” he explained.</p><p><blockquote>“他解释说：”我们认为电视供应链问题和某些供应紧张的垂直行业的广告支出疲软是暂时的，当然不是Roku独有的。</blockquote></p><p>Carpenter also pointed out the “secular shift of TV viewing and ad dollars to streaming” remains strong and in early days. He highlighted how Roku’s management had noted how streaming accounts for 42% of TV viewing time for US adults (18-49 years old) vs. only 22% of TV ad dollars.</p><p><blockquote>卡彭特还指出，“电视收视率和广告收入向流媒体的世俗转变 ”依然强劲，而且还处于早期阶段。他强调，Roku的管理层注意到，流媒体占美国成年人（18-49 岁）电视观看时间的 42%，而电视广告收入仅占 22%。</blockquote></p><p>“We remain overweight but we are lowering our price target to $435 to reflect the near-term uncertainty,” he added. “VZIO remains our preferred name in Connected TV.”Roku might not be a global household name yet, but it’s got all the goods to make that happen over the next few years, according to Danni Hewson, financial analyst at AJ Bell.</p><p><blockquote>“他补充说：”我们仍然是跑赢大盘，但我们将目标价下调至 435 美元，以反映近期的不确定性。“VZIO 仍然是我们在互联电视领域的首选品牌。AJ Bell 的金融分析师 Danni Hewson 认为，Roku可能还不是一个全球家喻户晓的品牌，但它拥有在未来几年实现这一目标的所有条件。</blockquote></p><p>“The streaming company was one of those lockdown darlings that some investors lost faith in because of a slowing of content consumption as restrictions eased,” she told Capital.com.</p><p><blockquote>“她告诉 Capital.com：”由于限制放松，内容消费放缓，一些投资者对这家流媒体公司失去了信心。</blockquote></p><p>Hewson pointed out that revenues were up 51% in the third quarter, compared to a year earlier, and argued the advertising buy from cable TV companies shows they’ve got real faith in its outlook.</p><p><blockquote>休森指出，与去年同期相比，第三季度的收入增长了 51%，并认为有线电视公司的广告购买表明他们对有线电视公司的前景充满信心。</blockquote></p><p>“Crucially, it managed to strike a deal to keep young viewers happy with a multi-year agreement with Alphabet that keeps the YouTube app on the platform,” she said.</p><p><blockquote>“她说：”至关重要的是，它与Alphabet达成了一项多年协议，将 YouTube 应用保留在平台上，从而让年轻观众满意。</blockquote></p><p>Hewson also highlighted some recent negatives.</p><p><blockquote>休森还强调了最近的一些负面影响。</blockquote></p><p>“There have been supply issues which have impacted availability during the crucial Christmas shopping window, plus rising costs have been passed onto the consumer which is likely to have dented sales which won’t look good come fourth quarter results,” she said.So, how does Hewson see the outlook for 2022?</p><p><blockquote>“她说：”在关键的圣诞节购物窗口期，供应问题影响了供应量，再加上成本上升已经转嫁到消费者身上，这很可能会影响销售额，而第四季度的业绩公布后，销售额不会很好。那么，休森如何看待2022年的前景呢？</blockquote></p><p>“Like many growth stocks, the prospect of rate rises will make some investors wary but it’s self-titled channel is gaining in popularity, it’s working on a pretty decent roster of new content and unlikeNetflixit’s just started spreading tentacles into other countries,” she said.</p><p><blockquote>“她说：”与许多成长型股票一样，加息的前景会让一些投资者保持警惕，但它的同名频道越来越受欢迎，它正在开发一系列相当不错的新内容，与 Netflixit 不同，它刚刚开始将触角伸向其他国家。</blockquote></p><p>When looking for Roku stock predictions, it’s important to bear in mind that analysts’ forecasts and price targets for the ROKU stock can be wrong. Analysts’ projections are based on making fundamental and technical studies of the stock’s performance. Past performance is no guarantee of future results.</p><p><blockquote>在寻找Roku股票预测时，重要的是要记住分析师对Roku股票的预测和目标价可能是错误的。分析师的预测是基于对该股表现的基本面和技术面研究。过去的表现并不能保证未来的结果。</blockquote></p><p></p><p>It’s important to do your own research. Always remember that your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. And you should never invest more than you can afford to lose.</p><p><blockquote>自己做研究很重要。永远记住，你的交易决定取决于你对风险的态度、你在市场中的专业知识、你的投资组合的利差以及你对亏损的感觉。你永远不应该投资超过你能承受的损失。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://capital.com/roku-stock-forecast\">Capital.com</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":{"ROKU":"Roku Inc"},"source_url":"https://capital.com/roku-stock-forecast","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186447502","content_text":"Roku is one of the pioneers of streaming television – and it continues to benefit from this increasingly popular way to watch programmes.The San Jose, California-based company, which celebrates its 20th anniversary in October 2022, makes a variety of digital media players, runs an advertising business, and licences its hardware and software.Its stock rose sharply during the first year of the Covid-19 pandemic as people were stuck at home but dipped last year due to the impact of global supply chain issues on customer growth.What’s next for Roku? In this analysis, we take a look at the company’s recent results and seek Roku stock price predictions from equity market experts.Roku stock analysis: Share price performanceRoku, which is listed on NASDAQ under the symbol ‘ROKU’, was founded in October 2002 and went public on 28 September 2017.The company hasn’t declared or paid cash dividends on its common stock and doesn’t anticipate any cash dividends for the foreseeable future.At the time of Roku’s initial public offering (IPO), its stock price was $14 per share. Since then, it has risen 1,530% to $228.20 by the market close on 31 December 2021.It had a market capitalisation of $31.13bn, according to calculations at the start of 2022 by Companiesmarketcap.com.What has been Roku’s historical stock price? Roku stock has increased 68% over the past two years – from $135.99 at the start of 2020 – as it benefitted from increased potential viewers during the Covid-19 lockdowns.However, it’s had a tougher time more recently with the stock price down more than 30% from the start of January to the end of December 2021. It also fell 50% in the last six months of the year.Roku stock news: The company’s latest resultsRoku recently revealed results for the third quarter ending 30 September 2021 that showed a 23% year-over-year growth of active accounts to 56.4 million.This represented a net increase of 1.3 million active accounts from the second quarter of the year, while streaming hours were up 0.7 billion hours to 18 billion in the period.Roku also announced that total net revenue grew 51% year-over-year to $680m, while platform revenue increased 82%, year-over-year, to $583m.The company’s gross profit came in at $364m, which represented a 69% year-over-year rise, while the average revenue per user (ARPU) surpassed the milestone of $40 on a trailing 12-month basis.In its letter to shareholders,Roku stated: “As the global shift to TV streaming continues, our performance demonstrates the strength of our business fundamentals and the momentum of our platform monetisation.”The letter also noted the company was making “significant progress” with traditional TV advertisers, while also expanding its total addressable market to digital-first advertisers.“Despite the ongoing headwinds created by the global supply chain disruptions, Roku remains well positioned as a result of our scale, brand, technology, and relentless focus on the TV streaming experience,” it added.Roku stock value: Analysts’ viewAccording to Morningstar, Roku is the leading streaming platform in the US by hours watched, with under 59 billion hours of content streamed in 2020.“The firm’s eponymous operating system is used not only in Roku’s own hardware but in co-branded TVs and soundbars from manufacturers like TCL, Onn, and Hisense,” it stated. “Roku generates revenue from advertising, distribution fees, hardware sales, OS licensing, and subscription sales.”Neil Macker, an analyst at Morningstar, branded the third quarter results as “decent”, and pointed out the company was continuing to benefit from accounts added during the Covid-19 pandemic.However, he highlighted some issues. “Customer growth remains muted due in part to supply chain issues,” he wrote. “We are maintaining our $195 fair value estimate and we view the shares as materially overvalued, pricing in unrealistic expectations for growth in a very competitive market.”Roku stock projection: Company’s guidanceSo, what is the management’s expectation for Roku? In its shareholder letter, the company insisted its business fundamentals remained strong but acknowledged challenges created by global supply chain issues were likely to continue.“These headwinds may have a broad impact on the holiday season in terms of consumer confidence, product pricing and availability, and advertising spend levels,” it stated.While the pandemic has had different impacts on the various parts of its business, Roku maintained that the secular shift to streaming remained intact.“Our fourth quarter outlook is for strong growth with total net revenue of $893m at the midpoint (up 37% year-over-year), and total gross profit of $385m (up 26% year-over-year),” it added.The company is also investing in headcount, product development, and sales and marketing as part of its bid to drive future growth.“We have a relentless focus on building the best TV streaming platform that benefits audiences, content publishers, and advertisers, and we remain well positioned for the long term,” it added.Roku stock forecast: Analyst sentiment and price targetRoku stock was a ‘buy’ based on the consensus views of 25 analysts compiled by MarketBeat as of 3 January 2022.The site pointed out that 21 of the analysts rated the stock as a ‘buy’, while two each had ‘hold’ and ‘sell’ recommendations.Their consensus 12-month Roku share price forecast was $395.73, which suggested a 73% upside over the $228.20 level, as at 31 December 2021.The highest projection was $550, while the lowest would represent a 17% fall to $190 over the coming year. The company has been rated by more than 15 analysts over the past 90 days.Roku stock was an “awesome long-term (one year) investment”, according to the algorithmic forecasting of WalletInvestor as of 3 January 2022.Its 12-month Roku stock price target was $363.60, which would represent a 59% premium over the $228.20 level, as at the close on 31 December 2021.The site believed shares could rise to as high as $495.45 by December 2023 and then up to $633.86 by December 2024. Its long term forecast for Roku stock showed it could reach $767.71 over the next three years to December 2025.According to WalletInvestor’s Roku stock 4-year forecast, meanwhile, the price could hit $876 by December 2026, which would represent a 284% over the $228.20 level.Roku stock price prediction: What do the experts say?Cory Carpenter, an analyst at JP Morgan, is positive on the company.“We believe Roku is well positioned as TV viewing increasingly shifts to streaming, with Roku’s platform benefitting from increased demand across SVOD services,” he wrote in a note.His bullish thesis is largely driven by what he believes to be Roku’s “significant advertising opportunity”, with streaming accounting for 50% of TV viewing time for 18-34 year olds in the US, but only an estimated 10-15% of TV ad budgets.He is also optimistic about recent problems.“We view the TV supply chain issues and pockets of ad spend weakness in certain supply-constrained verticals as transitory and certainly not unique to Roku,” he explained.Carpenter also pointed out the “secular shift of TV viewing and ad dollars to streaming” remains strong and in early days. He highlighted how Roku’s management had noted how streaming accounts for 42% of TV viewing time for US adults (18-49 years old) vs. only 22% of TV ad dollars.“We remain overweight but we are lowering our price target to $435 to reflect the near-term uncertainty,” he added. “VZIO remains our preferred name in Connected TV.”Roku might not be a global household name yet, but it’s got all the goods to make that happen over the next few years, according to Danni Hewson, financial analyst at AJ Bell.“The streaming company was one of those lockdown darlings that some investors lost faith in because of a slowing of content consumption as restrictions eased,” she told Capital.com.Hewson pointed out that revenues were up 51% in the third quarter, compared to a year earlier, and argued the advertising buy from cable TV companies shows they’ve got real faith in its outlook.“Crucially, it managed to strike a deal to keep young viewers happy with a multi-year agreement with Alphabet that keeps the YouTube app on the platform,” she said.Hewson also highlighted some recent negatives.“There have been supply issues which have impacted availability during the crucial Christmas shopping window, plus rising costs have been passed onto the consumer which is likely to have dented sales which won’t look good come fourth quarter results,” she said.So, how does Hewson see the outlook for 2022?“Like many growth stocks, the prospect of rate rises will make some investors wary but it’s self-titled channel is gaining in popularity, it’s working on a pretty decent roster of new content and unlikeNetflixit’s just started spreading tentacles into other countries,” she said.When looking for Roku stock predictions, it’s important to bear in mind that analysts’ forecasts and price targets for the ROKU stock can be wrong. Analysts’ projections are based on making fundamental and technical studies of the stock’s performance. Past performance is no guarantee of future results.It’s important to do your own research. Always remember that your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. And you should never invest more than you can afford to lose.","news_type":1,"symbols_score_info":{"ROKU":0.9}},"isVote":1,"tweetType":1,"viewCount":1217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695983926,"gmtCreate":1641297733862,"gmtModify":1641297734025,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqqq","listText":"Qqqq","text":"Qqqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/695983926","repostId":"1129266821","repostType":4,"repost":{"id":"1129266821","kind":"news","pubTimestamp":1641292383,"share":"https://www.laohunote.com/m/news/1129266821?lang=zh_CN&edition=full","pubTime":"2022-01-04 18:33","market":"us","language":"en","title":"Stock Futures Rise Ahead of Manufacturing Data<blockquote>制造业数据公布前股票期货上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129266821","media":"WSJ","summary":"U.S. stock futures ticked up Tuesday, suggesting the New Year’s strong start will continue ahead of ","content":"<p><html><head></head><body>U.S. stock futures ticked up Tuesday, suggesting the <a href=\"https://laohu8.com/S/NGD\">New</a> Year’s strong start will continue ahead of fresh data on manufacturing and the labor market.</p><p><blockquote><html><head></head><body>美国股指期货周二上涨，表明<a href=\"https://laohu8.com/S/NGD\">新的</a>在制造业和劳动力市场的新数据公布之前，今年的强劲开局将继续下去。</body></html></blockquote></p><p>Futures tied to the S&amp;P 500 added 0.3% after the broad-market index closed up 0.6% and notched a record on Monday. Dow Jones Industrial Average and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>-100 futures also climbed 0.3% Tuesday.</p><p><blockquote>周一大盘指数收盘上涨 0.6%，创下历史新高，与标普500挂钩的期货上涨 0.3%。道琼斯工业平均指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>-100期货周二也上涨0.3%。</blockquote></p><p>Stocks have continued their upward march in 2022 after the S&amp;P 500 closed 27% higher last year, while investors are continuing to assess data on the spread of the Omicron variant.Cases hit a record in the U.S.and hospitalizations are rising but remain below pandemic peaks, according to data from Johns Hopkins University.</p><p><blockquote>继去年标普500收盘上涨 27% 后，2022 年 3 月股市继续上涨，同时投资者继续评估有关 Omicron 变种传播的数据。根据约翰·霍普金斯大学的数据，美国病例创下历史新高，住院人数正在上升，但仍低于大流行峰值。</blockquote></p><p>“The mildness of Omicron and therefore, potential for less disruption, less lockdown measures—all of these should feed directly into earnings expectations,” said James Athey, an investment manager at Abrdn.</p><p><blockquote>“Abrdn 投资经理 James Athey 说：”奥密克戎的温和性，以及因此可能减少干扰、减少封锁措施--所有这些都应该直接影响盈利预期。</blockquote></p><p>The yield on the benchmark 10-year Treasury note ticked up to 1.630% from 1.628% on Monday.</p><p><blockquote>基准 10 年期国债收益率从周一的 1.628% 升至 1.630%。</blockquote></p><p>Purchasing managers’ surveys on the manufacturing sector for December are slated to be released at 10 a.m. ET. Economists expect a slowdown in growth, forecasting that supply-chain issues may have constrained U.S. factories.</p><p><blockquote>12 月份制造业采购经理调查将于美国东部时间上午 10 点发布。经济学家预计增长将放缓，并预测供应链问题可能限制了美国工厂。</blockquote></p><p>The Labor Department is scheduled to put out a survey on job openings and turnover for November, also at 10 a.m. The previous month’s data showed there were 3.6 million more job openings than people looking for work, highlighting the tight labor market.</p><p><blockquote>劳工部定于上午10点发布一份关于11月份职位空缺和人员流动的调查。上个月的数据显示，职位空缺比求职者多 360 万个，凸显了劳动力市场的紧张。</blockquote></p><p>In earnings, furniture company MillerKnoll and wireless computing firm Smart Global Holdings are expected to post their results Tuesday after markets close.</p><p><blockquote>在财报方面，家具公司 MillerKnoll 和无线计算公司 Smart Global Holdings 预计将于周二收盘后公布业绩。</blockquote></p><p>In premarket trading,Apple shares climbed 0.5% to $182.93, pointing to a market capitalization topping $3 trillion for a second consecutive day. Some travel stocks also advanced premarket, with <a href=\"https://laohu8.com/S/CCL\">Carnival</a> rising 2.5% and <a href=\"https://laohu8.com/S/RGLD\">Royal</a> Caribbean up 1.8%.</p><p><blockquote>盘前交易中，苹果股价上涨0.5%，至182.93美元，市值连续第二天突破3万亿美元。一些旅游股也在盘前上涨，<a href=\"https://laohu8.com/S/CCL\">狂欢节</a>上涨2.5%和<a href=\"https://laohu8.com/S/RGLD\">皇家的</a>加勒比地区上涨 1.8%。</blockquote></p><p>Oil prices edged up ahead of an OPEC+ meeting scheduled for Tuesday where energy ministers are expected to decide whether to proceed with planned output increases. Global benchmark Brent crude climbed 0.5% to $79.38 a barrel.</p><p><blockquote>在定于周二举行的欧佩克+会议之前，油价小幅上涨，预计能源部长将在会上决定是否继续按计划增产。全球基准布伦特原油上涨 0.5%，至每桶 79.38 美元。</blockquote></p><p>Bitcoin stabilized after a two-day fall, edging up 0.8% compared with its level at 5 p.m. ET Monday. It traded around $46,400, down 32% from its all-time high in November.</p><p><blockquote>比特币在连续两天下跌后企稳，较下午 5 点的水平小幅上涨 0.8%。美国东部时间周一。其交易价格约为 46,400 美元，较 11 月份的历史高点下跌 32%。</blockquote></p><p>Overseas, the pan-continental Stoxx Europe 600 added 0.6%. European airline stocks jumped, with International <a href=\"https://laohu8.com/S/CNSL\">Consolidated</a> Airlines rising 10%,Wizz Airadvancing 11% andRyanairup 9%.</p><p><blockquote>海外方面，泛洲斯托克欧洲 600 指数上涨 0.6%。欧洲航空股上涨，国际<a href=\"https://laohu8.com/S/CNSL\">合并</a>航空公司上涨 10%，Wizz Air 上涨 11%，DryanAir 上涨 9%。</blockquote></p><p>In currency markets, the Turkish lira depreciated 1% to 13.3 to the dollar. The currency has fluctuated wildly in recent weeks as investors have assessed government measures aimed at stabilizing the economy. The Japanese yen weakened 0.5% against the dollar to a five-year low.</p><p><blockquote>在货币市场上，土耳其里拉兑美元汇率贬值1%至13.3。最近几周，随着投资者评估政府旨在稳定经济的措施，货币大幅波动。日元兑美元汇率下跌0.5%，至五年低点。</blockquote></p><p>“The yen has really fallen off, that’s classical weakness based on investor appetite to take risk,” said Gregory Perdon, co-chief investment officer at Arbuth not Latham.“People are buying equities, buying high yield [bonds]—that’s the market tone.”</p><p><blockquote>“Arbuth not Latham 联席首席投资官格雷戈里-珀顿（Gregory Perdon）说：”日元确实已经下跌，这是基于投资者冒险意愿的典型疲软。“人们正在购买股票，购买高收益（债券）--这就是市场基调。”</blockquote></p><p>In Asia, major benchmarks were mixed. The Shanghai Composite Index slipped 0.2%. Hong Kong’s Hang Seng Index edged up 0.1%.</p><p><blockquote>在亚洲，主要基准好坏参半。上证综指下跌0.2%。香港恒生指数小幅上涨0.1%。</blockquote></p><p>Japan’s Nikkei 225 closed up 1.8% as the weaker yen drew investors to the country’s stock market. The S&amp;P/ASX 200 Index rallied 2%, hitting a four-month high on Australia’s first trading day of the year.</p><p><blockquote>日本日经 225 指数收盘上涨 1.8%，日元走软吸引投资者涌入该国股市。标准普尔/ASX 200 指数上涨 2%，在澳大利亚今年的第一个交易日创下四个月新高。</blockquote></p><p></body></html></p><p><blockquote></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>Stock Futures Rise Ahead of Manufacturing Data<blockquote>制造业数据公布前股票期货上涨</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\">\nStock Futures Rise Ahead of Manufacturing Data<blockquote>制造业数据公布前股票期货上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">WSJ</strong><span class=\"h-time small\">2022-01-04 18:33</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>U.S. stock futures ticked up Tuesday, suggesting the <a href=\"https://laohu8.com/S/NGD\">New</a> Year’s strong start will continue ahead of fresh data on manufacturing and the labor market.</p><p><blockquote><html><head></head><body>美国股指期货周二上涨，表明<a href=\"https://laohu8.com/S/NGD\">新的</a>在制造业和劳动力市场的新数据公布之前，今年的强劲开局将继续下去。</body></html></blockquote></p><p>Futures tied to the S&amp;P 500 added 0.3% after the broad-market index closed up 0.6% and notched a record on Monday. Dow Jones Industrial Average and <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a>-100 futures also climbed 0.3% Tuesday.</p><p><blockquote>周一大盘指数收盘上涨 0.6%，创下历史新高，与标普500挂钩的期货上涨 0.3%。道琼斯工业平均指数和<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>-100期货周二也上涨0.3%。</blockquote></p><p>Stocks have continued their upward march in 2022 after the S&amp;P 500 closed 27% higher last year, while investors are continuing to assess data on the spread of the Omicron variant.Cases hit a record in the U.S.and hospitalizations are rising but remain below pandemic peaks, according to data from Johns Hopkins University.</p><p><blockquote>继去年标普500收盘上涨 27% 后，2022 年 3 月股市继续上涨，同时投资者继续评估有关 Omicron 变种传播的数据。根据约翰·霍普金斯大学的数据，美国病例创下历史新高，住院人数正在上升，但仍低于大流行峰值。</blockquote></p><p>“The mildness of Omicron and therefore, potential for less disruption, less lockdown measures—all of these should feed directly into earnings expectations,” said James Athey, an investment manager at Abrdn.</p><p><blockquote>“Abrdn 投资经理 James Athey 说：”奥密克戎的温和性，以及因此可能减少干扰、减少封锁措施--所有这些都应该直接影响盈利预期。</blockquote></p><p>The yield on the benchmark 10-year Treasury note ticked up to 1.630% from 1.628% on Monday.</p><p><blockquote>基准 10 年期国债收益率从周一的 1.628% 升至 1.630%。</blockquote></p><p>Purchasing managers’ surveys on the manufacturing sector for December are slated to be released at 10 a.m. ET. Economists expect a slowdown in growth, forecasting that supply-chain issues may have constrained U.S. factories.</p><p><blockquote>12 月份制造业采购经理调查将于美国东部时间上午 10 点发布。经济学家预计增长将放缓，并预测供应链问题可能限制了美国工厂。</blockquote></p><p>The Labor Department is scheduled to put out a survey on job openings and turnover for November, also at 10 a.m. The previous month’s data showed there were 3.6 million more job openings than people looking for work, highlighting the tight labor market.</p><p><blockquote>劳工部定于上午10点发布一份关于11月份职位空缺和人员流动的调查。上个月的数据显示，职位空缺比求职者多 360 万个，凸显了劳动力市场的紧张。</blockquote></p><p>In earnings, furniture company MillerKnoll and wireless computing firm Smart Global Holdings are expected to post their results Tuesday after markets close.</p><p><blockquote>在财报方面，家具公司 MillerKnoll 和无线计算公司 Smart Global Holdings 预计将于周二收盘后公布业绩。</blockquote></p><p>In premarket trading,Apple shares climbed 0.5% to $182.93, pointing to a market capitalization topping $3 trillion for a second consecutive day. Some travel stocks also advanced premarket, with <a href=\"https://laohu8.com/S/CCL\">Carnival</a> rising 2.5% and <a href=\"https://laohu8.com/S/RGLD\">Royal</a> Caribbean up 1.8%.</p><p><blockquote>盘前交易中，苹果股价上涨0.5%，至182.93美元，市值连续第二天突破3万亿美元。一些旅游股也在盘前上涨，<a href=\"https://laohu8.com/S/CCL\">狂欢节</a>上涨2.5%和<a href=\"https://laohu8.com/S/RGLD\">皇家的</a>加勒比地区上涨 1.8%。</blockquote></p><p>Oil prices edged up ahead of an OPEC+ meeting scheduled for Tuesday where energy ministers are expected to decide whether to proceed with planned output increases. Global benchmark Brent crude climbed 0.5% to $79.38 a barrel.</p><p><blockquote>在定于周二举行的欧佩克+会议之前，油价小幅上涨，预计能源部长将在会上决定是否继续按计划增产。全球基准布伦特原油上涨 0.5%，至每桶 79.38 美元。</blockquote></p><p>Bitcoin stabilized after a two-day fall, edging up 0.8% compared with its level at 5 p.m. ET Monday. It traded around $46,400, down 32% from its all-time high in November.</p><p><blockquote>比特币在连续两天下跌后企稳，较下午 5 点的水平小幅上涨 0.8%。美国东部时间周一。其交易价格约为 46,400 美元，较 11 月份的历史高点下跌 32%。</blockquote></p><p>Overseas, the pan-continental Stoxx Europe 600 added 0.6%. European airline stocks jumped, with International <a href=\"https://laohu8.com/S/CNSL\">Consolidated</a> Airlines rising 10%,Wizz Airadvancing 11% andRyanairup 9%.</p><p><blockquote>海外方面，泛洲斯托克欧洲 600 指数上涨 0.6%。欧洲航空股上涨，国际<a href=\"https://laohu8.com/S/CNSL\">合并</a>航空公司上涨 10%，Wizz Air 上涨 11%，DryanAir 上涨 9%。</blockquote></p><p>In currency markets, the Turkish lira depreciated 1% to 13.3 to the dollar. The currency has fluctuated wildly in recent weeks as investors have assessed government measures aimed at stabilizing the economy. The Japanese yen weakened 0.5% against the dollar to a five-year low.</p><p><blockquote>在货币市场上，土耳其里拉兑美元汇率贬值1%至13.3。最近几周，随着投资者评估政府旨在稳定经济的措施，货币大幅波动。日元兑美元汇率下跌0.5%，至五年低点。</blockquote></p><p>“The yen has really fallen off, that’s classical weakness based on investor appetite to take risk,” said Gregory Perdon, co-chief investment officer at Arbuth not Latham.“People are buying equities, buying high yield [bonds]—that’s the market tone.”</p><p><blockquote>“Arbuth not Latham 联席首席投资官格雷戈里-珀顿（Gregory Perdon）说：”日元确实已经下跌，这是基于投资者冒险意愿的典型疲软。“人们正在购买股票，购买高收益（债券）--这就是市场基调。”</blockquote></p><p>In Asia, major benchmarks were mixed. The Shanghai Composite Index slipped 0.2%. Hong Kong’s Hang Seng Index edged up 0.1%.</p><p><blockquote>在亚洲，主要基准好坏参半。上证综指下跌0.2%。香港恒生指数小幅上涨0.1%。</blockquote></p><p>Japan’s Nikkei 225 closed up 1.8% as the weaker yen drew investors to the country’s stock market. The S&amp;P/ASX 200 Index rallied 2%, hitting a four-month high on Australia’s first trading day of the year.</p><p><blockquote>日本日经 225 指数收盘上涨 1.8%，日元走软吸引投资者涌入该国股市。标准普尔/ASX 200 指数上涨 2%，在澳大利亚今年的第一个交易日创下四个月新高。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/global-stock-markets-dow-update-01-04-2022-11641286878?mod=markets_lead_pos1\">WSJ</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":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/global-stock-markets-dow-update-01-04-2022-11641286878?mod=markets_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129266821","content_text":"U.S. stock futures ticked up Tuesday, suggesting the New Year’s strong start will continue ahead of fresh data on manufacturing and the labor market.Futures tied to the S&P 500 added 0.3% after the broad-market index closed up 0.6% and notched a record on Monday. Dow Jones Industrial Average and Nasdaq-100 futures also climbed 0.3% Tuesday.Stocks have continued their upward march in 2022 after the S&P 500 closed 27% higher last year, while investors are continuing to assess data on the spread of the Omicron variant.Cases hit a record in the U.S.and hospitalizations are rising but remain below pandemic peaks, according to data from Johns Hopkins University.“The mildness of Omicron and therefore, potential for less disruption, less lockdown measures—all of these should feed directly into earnings expectations,” said James Athey, an investment manager at Abrdn.The yield on the benchmark 10-year Treasury note ticked up to 1.630% from 1.628% on Monday.Purchasing managers’ surveys on the manufacturing sector for December are slated to be released at 10 a.m. ET. Economists expect a slowdown in growth, forecasting that supply-chain issues may have constrained U.S. factories.The Labor Department is scheduled to put out a survey on job openings and turnover for November, also at 10 a.m. The previous month’s data showed there were 3.6 million more job openings than people looking for work, highlighting the tight labor market.In earnings, furniture company MillerKnoll and wireless computing firm Smart Global Holdings are expected to post their results Tuesday after markets close.In premarket trading,Apple shares climbed 0.5% to $182.93, pointing to a market capitalization topping $3 trillion for a second consecutive day. Some travel stocks also advanced premarket, with Carnival rising 2.5% and Royal Caribbean up 1.8%.Oil prices edged up ahead of an OPEC+ meeting scheduled for Tuesday where energy ministers are expected to decide whether to proceed with planned output increases. Global benchmark Brent crude climbed 0.5% to $79.38 a barrel.Bitcoin stabilized after a two-day fall, edging up 0.8% compared with its level at 5 p.m. ET Monday. It traded around $46,400, down 32% from its all-time high in November.Overseas, the pan-continental Stoxx Europe 600 added 0.6%. European airline stocks jumped, with International Consolidated Airlines rising 10%,Wizz Airadvancing 11% andRyanairup 9%.In currency markets, the Turkish lira depreciated 1% to 13.3 to the dollar. The currency has fluctuated wildly in recent weeks as investors have assessed government measures aimed at stabilizing the economy. The Japanese yen weakened 0.5% against the dollar to a five-year low.“The yen has really fallen off, that’s classical weakness based on investor appetite to take risk,” said Gregory Perdon, co-chief investment officer at Arbuth not Latham.“People are buying equities, buying high yield [bonds]—that’s the market tone.”In Asia, major benchmarks were mixed. The Shanghai Composite Index slipped 0.2%. Hong Kong’s Hang Seng Index edged up 0.1%.Japan’s Nikkei 225 closed up 1.8% as the weaker yen drew investors to the country’s stock market. The S&P/ASX 200 Index rallied 2%, hitting a four-month high on Australia’s first trading day of the year.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1852,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692704573,"gmtCreate":1641203642736,"gmtModify":1641203642946,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqqq","listText":"Qqqq","text":"Qqqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/692704573","repostId":"1139521296","repostType":4,"repost":{"id":"1139521296","kind":"news","pubTimestamp":1641197459,"share":"https://www.laohunote.com/m/news/1139521296?lang=zh_CN&edition=full","pubTime":"2022-01-03 16:10","market":"us","language":"en","title":"Israel to offer fourth COVID-19 vaccine dose to people over 60s, medical staff - Reuters<blockquote>以色列将为 60 岁以上老人和医务人员提供第四剂 COVID-19 疫苗 - 路透社</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139521296","media":"Seeking Alpha","summary":"Israel will offer a fourth dose of COVID-19 vaccine to people over 60 and to medical staff, source R","content":"<p><html><head></head><body><ul><li>Israel will offer a fourth dose of COVID-19 vaccine to people over 60 and to medical staff, source Reuters.</li><li>Last week, Israel approved a fourth dose Pfizer(NYSE:PFE) and BioNTech&#39;s(NASDAQ:BNTX) vaccine, a second booster, for people who are immune-compromised and the elderly living in care homes.</li><li>&#34;We now have a new layer of defense,&#34; Prime Minister Naftali Bennett said in a news conference, adding that Israel&#39;s top government medical official had signed off on the latest move.</li><li>&#34;Israel will once again be pioneering the global vaccination effort,&#34; Bennett said.</li><li>Daily cases in Israel are expected to reach record highs in the coming three weeks. Bennett said that up to 50,000 people might soon be infected each day, while eligibility for testing could be tightened to help relieve long lines at testing stations.</li><li>Over the past 10 days, daily infections have more than quadrupled. Severe cases have also climbed, but at a far lower rate, rising from about 80 to around 100.</li></ul></body></html></p><p><blockquote><html><head></head><body><ul><li>路透社消息，以色列将向60岁以上的人和医务人员提供第四剂新冠肺炎疫苗。</li><li>上周，以色列批准了第四剂辉瑞（纽约证券交易所股票代码：PFE）和 BioNTech（纳斯达克股票代码：BNTX）疫苗，这是第二种加强剂，适用于免疫功能低下的人和居住在养老院的老年人。</li><li>以色列总理纳夫塔利·贝内特在新闻发布会上表示：“我们现在有了新的防御层。”他补充说，以色列政府最高医疗官员已经签署了最新举措。</li><li>“以色列将再次成为全球疫苗接种工作的先驱，”贝内特说。</li><li>以色列的每日病例预计将在未来三周内达到历史新高。贝内特说，每天可能很快就会有多达5万人被感染，而检测资格可能会收紧，以帮助缓解检测站的长队。</li><li>在过去的10天里，每天的感染人数增加了两倍多。严重病例也有所上升，但速度要低得多，从大约80例上升到100例左右。</li></ul></body></html></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>Israel to offer fourth COVID-19 vaccine dose to people over 60s, medical staff - Reuters<blockquote>以色列将为 60 岁以上老人和医务人员提供第四剂 COVID-19 疫苗 - 路透社</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\">\nIsrael to offer fourth COVID-19 vaccine dose to people over 60s, medical staff - Reuters<blockquote>以色列将为 60 岁以上老人和医务人员提供第四剂 COVID-19 疫苗 - 路透社</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\">2022-01-03 16:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><ul><li>Israel will offer a fourth dose of COVID-19 vaccine to people over 60 and to medical staff, source Reuters.</li><li>Last week, Israel approved a fourth dose Pfizer(NYSE:PFE) and BioNTech&#39;s(NASDAQ:BNTX) vaccine, a second booster, for people who are immune-compromised and the elderly living in care homes.</li><li>&#34;We now have a new layer of defense,&#34; Prime Minister Naftali Bennett said in a news conference, adding that Israel&#39;s top government medical official had signed off on the latest move.</li><li>&#34;Israel will once again be pioneering the global vaccination effort,&#34; Bennett said.</li><li>Daily cases in Israel are expected to reach record highs in the coming three weeks. Bennett said that up to 50,000 people might soon be infected each day, while eligibility for testing could be tightened to help relieve long lines at testing stations.</li><li>Over the past 10 days, daily infections have more than quadrupled. Severe cases have also climbed, but at a far lower rate, rising from about 80 to around 100.</li></ul></body></html></p><p><blockquote><html><head></head><body><ul><li>路透社消息，以色列将向60岁以上的人和医务人员提供第四剂新冠肺炎疫苗。</li><li>上周，以色列批准了第四剂辉瑞（纽约证券交易所股票代码：PFE）和 BioNTech（纳斯达克股票代码：BNTX）疫苗，这是第二种加强剂，适用于免疫功能低下的人和居住在养老院的老年人。</li><li>以色列总理纳夫塔利·贝内特在新闻发布会上表示：“我们现在有了新的防御层。”他补充说，以色列政府最高医疗官员已经签署了最新举措。</li><li>“以色列将再次成为全球疫苗接种工作的先驱，”贝内特说。</li><li>以色列的每日病例预计将在未来三周内达到历史新高。贝内特说，每天可能很快就会有多达5万人被感染，而检测资格可能会收紧，以帮助缓解检测站的长队。</li><li>在过去的10天里，每天的感染人数增加了两倍多。严重病例也有所上升，但速度要低得多，从大约80例上升到100例左右。</li></ul></body></html></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3784451-israel-to-offer-fourth-covid-19-vaccine-dose-to-people-over-60s-medical-staff-reuters\">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":{"PFE":"辉瑞","BNTX":"BioNTech SE"},"source_url":"https://seekingalpha.com/news/3784451-israel-to-offer-fourth-covid-19-vaccine-dose-to-people-over-60s-medical-staff-reuters","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139521296","content_text":"Israel will offer a fourth dose of COVID-19 vaccine to people over 60 and to medical staff, source Reuters.Last week, Israel approved a fourth dose Pfizer(NYSE:PFE) and BioNTech's(NASDAQ:BNTX) vaccine, a second booster, for people who are immune-compromised and the elderly living in care homes.\"We now have a new layer of defense,\" Prime Minister Naftali Bennett said in a news conference, adding that Israel's top government medical official had signed off on the latest move.\"Israel will once again be pioneering the global vaccination effort,\" Bennett said.Daily cases in Israel are expected to reach record highs in the coming three weeks. Bennett said that up to 50,000 people might soon be infected each day, while eligibility for testing could be tightened to help relieve long lines at testing stations.Over the past 10 days, daily infections have more than quadrupled. Severe cases have also climbed, but at a far lower rate, rising from about 80 to around 100.","news_type":1,"symbols_score_info":{"BNTX":0.9,"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":1236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692677339,"gmtCreate":1640961998740,"gmtModify":1640961998934,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqqqq","listText":"Qqqqq","text":"Qqqqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/692677339","repostId":"2195412163","repostType":4,"isVote":1,"tweetType":1,"viewCount":1360,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692193634,"gmtCreate":1640868144681,"gmtModify":1640868254644,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Wqqqq","listText":"Wqqqq","text":"Wqqqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/692193634","repostId":"1125254281","repostType":4,"isVote":1,"tweetType":1,"viewCount":1182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696700478,"gmtCreate":1640759864337,"gmtModify":1640759864513,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqq","listText":"Qqq","text":"Qqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/696700478","repostId":"1186633322","repostType":4,"isVote":1,"tweetType":1,"viewCount":1192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696638888,"gmtCreate":1640678073763,"gmtModify":1640678073929,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqq","listText":"Qqq","text":"Qqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/696638888","repostId":"1192124660","repostType":4,"repost":{"id":"1192124660","kind":"news","pubTimestamp":1640672173,"share":"https://www.laohunote.com/m/news/1192124660?lang=zh_CN&edition=full","pubTime":"2021-12-28 14:16","market":"us","language":"en","title":"Amazon Stock: Why It's Cowen & Co.'s Top Mega-Cap Pick for 2022<blockquote>亚马逊股票：为什么它是 Cowen &amp; Co. 2022 年的首选大型股</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1192124660","media":"TheStreet","summary":"Cowen & Co. analyst John Blackledge is bullish on AMZN. His main reason? E-commerce growth will acce","content":"<p>Cowen &amp; Co. analyst John Blackledge is bullish on AMZN. His main reason? E-commerce growth will accelerate again in 2022.</p><p><blockquote>Cowen &amp; Co. 分析师 John Blackledge 看好 AMZN。他的主要原因？2022年电子商务增长将再次加速。</blockquote></p><p> So far, the 2021 holiday season has not been the catalyst Amazon&nbsp;(<b>AMZN</b>)&nbsp;stock needed to rebuild momentum.</p><p><blockquote>到目前为止，2021 年假日季还不是亚马逊的催化剂（<b>亚马逊</b>) 股票需要重建势头。</blockquote></p><p> Shares closed at $3,421 last Thursday (December 23), around 4% less than their trading price 30 days earlier. That is&nbsp;unimpressive, and AMZN's total performance year-to-date is less than 5% — even after the \"mini rally\" of the past few days.</p><p><blockquote>上周四（12 月 23 日）股价收于 3,421 美元，比 30 天前的交易价格下跌约 4%。这并不令人印象深刻，而且 AMZN 今年迄今为止的总业绩还不到 5%——即使在过去几天的“迷你反弹”之后。</blockquote></p><p> The market may be skeptical about the e-commerce titan. But Wall Street’s top analysts are heavily bullish on its stock.</p><p><blockquote>市场可能对这家电商巨头持怀疑态度。但华尔街的顶级分析师非常看好该股。</blockquote></p><p> This time it’s Cowen &amp; Co. analyst John Blackledge, who&nbsp;raised his target price for Amazon from $4,300 to an astonishing $4,500— a 32% upside. Let's dive into his thesis.</p><p><blockquote>这一次，Cowen &amp; Co. 分析师约翰-布莱克利奇（John Blackledge）将亚马逊的目标价从 4300 美元上调至惊人的 4500 美元，涨幅达 32%。让我们深入探讨他的论文。</blockquote></p><p> <b>E-commerce Will Improve in the Second Quarter</b></p><p><blockquote><b>第二季度电子商务将有所改善</b></blockquote></p><p> According to Mr. Blackledge, the online retail industry should start accelerating by the second quarter of 2022. This should push Amazon’s sales higher — Cowen &amp; Co. estimates gross merchandise value to grow 16% year over year.</p><p><blockquote>Blackledge 表示，在线零售业应该会在 2022 年第二季度开始加速发展。这应该会推高亚马逊的销售额--Cowen &amp; Co. 预计商品总价值将同比增长 16%。</blockquote></p><p> In the meantime, the analyst also believes Amazon will improve its e-commerce margins, which should send price shares higher.</p><p><blockquote>与此同时，该分析师还认为亚马逊将提高其电子商务利润率，这应该会推高价格股价。</blockquote></p><p> The firm’s higher-than-average valuation for Amazon is also supported by its above-consensus projections: Cowen &amp; Co. raised both its back-half 2022 numbers and long-term figures.</p><p><blockquote>该公司对亚马逊高于平均水平的估值也得到了其高于共识的预测的支持： Cowen &amp; Co. 上调了 2022 年下半年的数据和长期数据。</blockquote></p><p> Blackledge is betting that Amazon’s 2022 revenue will grow 1% above consensus estimates, as well as pulling in 6% higher operating income and 10% higher earnings per share.</p><p><blockquote>Blackledge 押注亚马逊 2022 年的收入将比普遍预期高出 1%，经营利润将增长 6%，每股收益将增长 10%。</blockquote></p><p>   “With Amazon shares trading at 18 times [earnings before interest, taxes, depreciation, and amortization], it is slightly below the midpoint of its historical range,\" Blackledge wrote.    \"[W]e think, with the improving fundamentals, AWS and advertising will be robust again next year, [so] we could get multiple expansion, and that’s why Amazon is our top mega-cap bet.\"  <b>Increasing Businesses, Decreasing Expenditures</b></p><p><blockquote>“Blackledge 写道：”亚马逊股价的市盈率为 18 倍（息税折旧摊销前市盈率），略低于其历史区间的中点。“我们认为，随着基本面的改善，AWS 和广告业务明年将再次强劲，[因此]我们可以实现多重扩张，这就是为什么亚马逊是我们最大的巨型股赌注。”<b>增加业务，减少支出</b></blockquote></p><p> Blackledge also believes the market hasn't taken into account growth in the company's Amazon Web Services (AWS) and advertising divisions.</p><p><blockquote>Blackledge 还认为，市场没有考虑到该公司亚马逊网络服务 (AWS) 和广告部门的增长。</blockquote></p><p> Since both segments are projected to keep expanding in the future, we could suddenly see Amazon's stock price correct from its 2021 lag.</p><p><blockquote>由于这两个细分市场预计未来都将继续扩张，我们可能会突然看到亚马逊的股价从 2021 年的滞后中恢复过来。</blockquote></p><p> Blackledge added that Amazon should not increase its operating expenses in 2022. He said the company already “invested so much” throughout 2021. In fact, the analyst is confident the company will start increasing profitability if it hikes up the price of Prime membership.</p><p><blockquote>布莱克利奇补充说，亚马逊在 2022 年不应增加运营费用。他说，公司在整个 2021 年已经 “投入了大量资金”。事实上，分析师相信，如果该公司提高 Prime 会员的价格，它将开始提高盈利能力。</blockquote></p><p> <b>A $4,500 Scenario?</b></p><p><blockquote><b>4500美元的场景？</b></blockquote></p><p> Since 2018, Amazon has more than doubled its fulfillment network, bolstered its one-day/same-day delivery capabilities, and improved its Prime Video catalog. On the other hand, investors saw Amazon's margins take a hit in 2021, mostly due to higher labor costs and increased wages.</p><p><blockquote>自2018年以来，亚马逊将其履行网络扩大了一倍多，增强了其一日/当天送达能力，并改进了其Prime视频目录。另一方面，投资者认为亚马逊的利润率在 2021 年受到打击，这主要是由于劳动力成本上升和工资上涨。</blockquote></p><p> As the company digests these extra operating expenses and moves away from 2020 comps, Blackledge is confident that Amazon's stock will finally regain its traction.</p><p><blockquote>随着公司消化这些额外的运营费用并远离 2020 年的业绩，Blackledge 相信亚马逊的股票最终将重新获得吸引力。</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>Amazon Stock: Why It's Cowen & Co.'s Top Mega-Cap Pick for 2022<blockquote>亚马逊股票：为什么它是 Cowen &amp; Co. 2022 年的首选大型股</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 Stock: Why It's Cowen & Co.'s Top Mega-Cap Pick for 2022<blockquote>亚马逊股票：为什么它是 Cowen &amp; Co. 2022 年的首选大型股</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-12-28 14:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Cowen &amp; Co. analyst John Blackledge is bullish on AMZN. His main reason? E-commerce growth will accelerate again in 2022.</p><p><blockquote>Cowen &amp; Co. 分析师 John Blackledge 看好 AMZN。他的主要原因？2022年电子商务增长将再次加速。</blockquote></p><p> So far, the 2021 holiday season has not been the catalyst Amazon&nbsp;(<b>AMZN</b>)&nbsp;stock needed to rebuild momentum.</p><p><blockquote>到目前为止，2021 年假日季还不是亚马逊的催化剂（<b>亚马逊</b>) 股票需要重建势头。</blockquote></p><p> Shares closed at $3,421 last Thursday (December 23), around 4% less than their trading price 30 days earlier. That is&nbsp;unimpressive, and AMZN's total performance year-to-date is less than 5% — even after the \"mini rally\" of the past few days.</p><p><blockquote>上周四（12 月 23 日）股价收于 3,421 美元，比 30 天前的交易价格下跌约 4%。这并不令人印象深刻，而且 AMZN 今年迄今为止的总业绩还不到 5%——即使在过去几天的“迷你反弹”之后。</blockquote></p><p> The market may be skeptical about the e-commerce titan. But Wall Street’s top analysts are heavily bullish on its stock.</p><p><blockquote>市场可能对这家电商巨头持怀疑态度。但华尔街的顶级分析师非常看好该股。</blockquote></p><p> This time it’s Cowen &amp; Co. analyst John Blackledge, who&nbsp;raised his target price for Amazon from $4,300 to an astonishing $4,500— a 32% upside. Let's dive into his thesis.</p><p><blockquote>这一次，Cowen &amp; Co. 分析师约翰-布莱克利奇（John Blackledge）将亚马逊的目标价从 4300 美元上调至惊人的 4500 美元，涨幅达 32%。让我们深入探讨他的论文。</blockquote></p><p> <b>E-commerce Will Improve in the Second Quarter</b></p><p><blockquote><b>第二季度电子商务将有所改善</b></blockquote></p><p> According to Mr. Blackledge, the online retail industry should start accelerating by the second quarter of 2022. This should push Amazon’s sales higher — Cowen &amp; Co. estimates gross merchandise value to grow 16% year over year.</p><p><blockquote>Blackledge 表示，在线零售业应该会在 2022 年第二季度开始加速发展。这应该会推高亚马逊的销售额--Cowen &amp; Co. 预计商品总价值将同比增长 16%。</blockquote></p><p> In the meantime, the analyst also believes Amazon will improve its e-commerce margins, which should send price shares higher.</p><p><blockquote>与此同时，该分析师还认为亚马逊将提高其电子商务利润率，这应该会推高价格股价。</blockquote></p><p> The firm’s higher-than-average valuation for Amazon is also supported by its above-consensus projections: Cowen &amp; Co. raised both its back-half 2022 numbers and long-term figures.</p><p><blockquote>该公司对亚马逊高于平均水平的估值也得到了其高于共识的预测的支持： Cowen &amp; Co. 上调了 2022 年下半年的数据和长期数据。</blockquote></p><p> Blackledge is betting that Amazon’s 2022 revenue will grow 1% above consensus estimates, as well as pulling in 6% higher operating income and 10% higher earnings per share.</p><p><blockquote>Blackledge 押注亚马逊 2022 年的收入将比普遍预期高出 1%，经营利润将增长 6%，每股收益将增长 10%。</blockquote></p><p>   “With Amazon shares trading at 18 times [earnings before interest, taxes, depreciation, and amortization], it is slightly below the midpoint of its historical range,\" Blackledge wrote.    \"[W]e think, with the improving fundamentals, AWS and advertising will be robust again next year, [so] we could get multiple expansion, and that’s why Amazon is our top mega-cap bet.\"  <b>Increasing Businesses, Decreasing Expenditures</b></p><p><blockquote>“Blackledge 写道：”亚马逊股价的市盈率为 18 倍（息税折旧摊销前市盈率），略低于其历史区间的中点。“我们认为，随着基本面的改善，AWS 和广告业务明年将再次强劲，[因此]我们可以实现多重扩张，这就是为什么亚马逊是我们最大的巨型股赌注。”<b>增加业务，减少支出</b></blockquote></p><p> Blackledge also believes the market hasn't taken into account growth in the company's Amazon Web Services (AWS) and advertising divisions.</p><p><blockquote>Blackledge 还认为，市场没有考虑到该公司亚马逊网络服务 (AWS) 和广告部门的增长。</blockquote></p><p> Since both segments are projected to keep expanding in the future, we could suddenly see Amazon's stock price correct from its 2021 lag.</p><p><blockquote>由于这两个细分市场预计未来都将继续扩张，我们可能会突然看到亚马逊的股价从 2021 年的滞后中恢复过来。</blockquote></p><p> Blackledge added that Amazon should not increase its operating expenses in 2022. He said the company already “invested so much” throughout 2021. In fact, the analyst is confident the company will start increasing profitability if it hikes up the price of Prime membership.</p><p><blockquote>布莱克利奇补充说，亚马逊在 2022 年不应增加运营费用。他说，公司在整个 2021 年已经 “投入了大量资金”。事实上，分析师相信，如果该公司提高 Prime 会员的价格，它将开始提高盈利能力。</blockquote></p><p> <b>A $4,500 Scenario?</b></p><p><blockquote><b>4500美元的场景？</b></blockquote></p><p> Since 2018, Amazon has more than doubled its fulfillment network, bolstered its one-day/same-day delivery capabilities, and improved its Prime Video catalog. On the other hand, investors saw Amazon's margins take a hit in 2021, mostly due to higher labor costs and increased wages.</p><p><blockquote>自2018年以来，亚马逊将其履行网络扩大了一倍多，增强了其一日/当天送达能力，并改进了其Prime视频目录。另一方面，投资者认为亚马逊的利润率在 2021 年受到打击，这主要是由于劳动力成本上升和工资上涨。</blockquote></p><p> As the company digests these extra operating expenses and moves away from 2020 comps, Blackledge is confident that Amazon's stock will finally regain its traction.</p><p><blockquote>随着公司消化这些额外的运营费用并远离 2020 年的业绩，Blackledge 相信亚马逊的股票最终将重新获得吸引力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/amazon/news/amazon-stock-why-its-cowen-co-s-top-mega-cap-pick-for-2022\">TheStreet</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.thestreet.com/amazon/news/amazon-stock-why-its-cowen-co-s-top-mega-cap-pick-for-2022","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192124660","content_text":"Cowen & Co. analyst John Blackledge is bullish on AMZN. His main reason? E-commerce growth will accelerate again in 2022.\nSo far, the 2021 holiday season has not been the catalyst Amazon (AMZN) stock needed to rebuild momentum.\nShares closed at $3,421 last Thursday (December 23), around 4% less than their trading price 30 days earlier. That is unimpressive, and AMZN's total performance year-to-date is less than 5% — even after the \"mini rally\" of the past few days.\nThe market may be skeptical about the e-commerce titan. But Wall Street’s top analysts are heavily bullish on its stock.\nThis time it’s Cowen & Co. analyst John Blackledge, who raised his target price for Amazon from $4,300 to an astonishing $4,500— a 32% upside. Let's dive into his thesis.\nE-commerce Will Improve in the Second Quarter\nAccording to Mr. Blackledge, the online retail industry should start accelerating by the second quarter of 2022. This should push Amazon’s sales higher — Cowen & Co. estimates gross merchandise value to grow 16% year over year.\nIn the meantime, the analyst also believes Amazon will improve its e-commerce margins, which should send price shares higher.\nThe firm’s higher-than-average valuation for Amazon is also supported by its above-consensus projections: Cowen & Co. raised both its back-half 2022 numbers and long-term figures.\nBlackledge is betting that Amazon’s 2022 revenue will grow 1% above consensus estimates, as well as pulling in 6% higher operating income and 10% higher earnings per share.\n\n “With Amazon shares trading at 18 times [earnings before interest, taxes, depreciation, and amortization], it is slightly below the midpoint of its historical range,\" Blackledge wrote.\n\n\n \"[W]e think, with the improving fundamentals, AWS and advertising will be robust again next year, [so] we could get multiple expansion, and that’s why Amazon is our top mega-cap bet.\"\n\nIncreasing Businesses, Decreasing Expenditures\nBlackledge also believes the market hasn't taken into account growth in the company's Amazon Web Services (AWS) and advertising divisions.\nSince both segments are projected to keep expanding in the future, we could suddenly see Amazon's stock price correct from its 2021 lag.\nBlackledge added that Amazon should not increase its operating expenses in 2022. He said the company already “invested so much” throughout 2021. In fact, the analyst is confident the company will start increasing profitability if it hikes up the price of Prime membership.\nA $4,500 Scenario?\nSince 2018, Amazon has more than doubled its fulfillment network, bolstered its one-day/same-day delivery capabilities, and improved its Prime Video catalog. On the other hand, investors saw Amazon's margins take a hit in 2021, mostly due to higher labor costs and increased wages.\nAs the company digests these extra operating expenses and moves away from 2020 comps, Blackledge is confident that Amazon's stock will finally regain its traction.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":1632,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696902559,"gmtCreate":1640589267573,"gmtModify":1640589267734,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3560092322694803","authorIdStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqq","listText":"Qqq","text":"Qqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/696902559","repostId":"1170511361","repostType":4,"repost":{"id":"1170511361","kind":"news","pubTimestamp":1640587121,"share":"https://www.laohunote.com/m/news/1170511361?lang=zh_CN&edition=full","pubTime":"2021-12-27 14:38","market":"us","language":"en","title":"Teladoc Stock: Is Cathie Wood’s Meme Stock a Buy?<blockquote>Teladoc 股票： Cathie Wood 的 Meme 股票值得买入吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170511361","media":"TheStreet","summary":"Teladoc has arguably reached “meme” status. But this Cathie Wood-backed telemedicine company is near","content":"<p>Teladoc has arguably reached “meme” status. But this Cathie Wood-backed telemedicine company is nearly 70% off its all-time highs from earlier this year.</p><p><blockquote>Teladoc 可以说已经达到了 “迷因 ”的地位。但这家由 Cathie Wood 支持的远程医疗公司较今年早些时候的历史高点下跌了近 70%。</blockquote></p><p> The largest telehealth provider company in the world, Teladoc&nbsp;has been looking quite meme-y as of late. Its popularity on major discussion forums has risen; there’s increased short interest following its poor trading performance through the latter half of this year;<i>and</i>TDOC shares are one of the main holdings of the recently launched MEME ETF.</p><p><blockquote>作为世界上最大的远程医疗提供商，Teladoc最近看起来相当迷因化。它在主要论坛上的受欢迎程度有所上升；由于今年下半年交易表现不佳，空头兴趣有所增加；<i>和</i>TDOC 股票是最近推出的 MEME ETF 的主要持股之一。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1d7ade96a142c2c31535c4c05941b745\" tg-width=\"1240\" tg-height=\"930\" width=\"100%\" height=\"auto\"><span>Figure 1: Teladoc offices.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：Teladoc办公室。</span></p></blockquote></p><p> Teladoc stock has also drawn investors’ attention because the company is one of the largest positions in Cathie Wood’s ARK Invest ETF family. The company was chosen for its disruptive business model, which fits right in with Ms. Wood’s investment strategy.</p><p><blockquote>Teladoc 股票也引起了投资者的关注，因为该公司是 Cathie Wood 的 ARK Invest ETF 家族中最大的持仓之一。该公司因其颠覆性的商业模式而被选中，这与伍德女士的投资策略非常契合。</blockquote></p><p> Here, we’ll take a closer look at Cathie Wood's “meme stock” bet. This is what you should know about TDOC shares.</p><p><blockquote>在这里，我们将仔细看看凯西-伍德（Cathie Wood）的 “备忘录股票 ”赌注。这是您应该了解的有关 TDOC 股票的信息。</blockquote></p><p> <b>Cathie Wood is buying the dip</b></p><p><blockquote><b>凯西·伍德逢低买入</b></blockquote></p><p> Cathie Wood’s bullishness on Teladoc stock is undeniable. The telemedicine company is thelargestholding, by percentage, in the ARK Genomic Revolution ETF&nbsp;(<b>ARKG</b>), accounting for 7% of the fund. It’s also thethird-largestholding on the ARK Innovation ETF&nbsp;(<b>ARKK</b>), accounting for 6.5% of the fund and sitting below only Tesla&nbsp;(<b>TSLA</b>)&nbsp;and Roku&nbsp;(<b>ROKU</b>)&nbsp;in weight share.</p><p><blockquote>凯西-伍德（Cathie Wood）对 Teladoc 股票的看好是不可否认的。按百分比计算，这家远程医疗公司是 ARK Genomic Revolution ETF 中最大的持股公司（<b>方舟</b>），占基金的7%。它也是方舟创新 ETF 的第三大持股（<b>方舟</b>），占基金的6.5%，仅次于特斯拉（<b>特斯拉</b>）和Roku（<b>ROKU</b>）的重量份额。</blockquote></p><p> In all of Ark Invest’s ETFs combined, Teladoc stock is the second-largest holding. In fact, Ark Invest owns nearly 11% of all TDOC shares, with shares having been bought at prices ranging from $148 to $172.</p><p><blockquote>在 Ark Invest 的所有 ETF 中，Teladoc 股票是第二大持股。事实上，Ark Invest 拥有 TDOC 所有股票的近 11%，股票的购买价格从 148 美元到 172 美元不等。</blockquote></p><p> Cathie Wood&nbsp;started&nbsp;investing in Teladoc in September of 2020, right in the middle of the COVID-19 pandemic. Early this year, Wood&nbsp;mentioned&nbsp;that her bullishness on Teladoc is due to her optimism about telemedicine innovations driven by artificial intelligence (AI). She expects the AI market to potentially reach $30 trillion over the next ten years. Following Teledoc’s&nbsp;acquisition of Livongo, Mrs. Wood believes Teladoc stands to be a clear beneficiary of AI market trends.</p><p><blockquote>Cathie Wood 于 2020 年 9 月开始投资 Teladoc，当时正值 COVID-19 大流行期间。今年早些时候，伍德提到，她看好Teladoc是因为她对人工智能（AI）驱动的远程医疗创新持乐观态度。她预计未来十年人工智能市场可能达到 30 万亿美元。在 Teledoc 收购 Livongo 之后，Wood 女士认为 Teledoc 将成为人工智能市场趋势的明显受益者。</blockquote></p><p> When asked about the prospect of Teladoc and other pandemic stay-at-home plays in a post-pandemic world, Mrs. Wood reiterated her belief that COVID-19 has only accelerated ongoing innovation processes, which will continue whether or not the pandemic peters out.</p><p><blockquote>当被问及Teladoc和其他疫情在家游戏在后疫情世界中的前景时，伍德女士重申了她的信念，即新冠肺炎只是加速了正在进行的创新进程，无论疫情是否退出，创新进程都将继续下去。</blockquote></p><p> Mrs. Wood made these statements in late February 2021. Since then, TDOC stock has dropped nearly 65% — yet Wood has continued to buy dips even into early December this year.</p><p><blockquote>伍德夫人在2021年2月下旬发表了这些声明。此后，TDOC 股价下跌了近 65%，但伍德甚至在今年 12 月初仍在继续逢低买入。</blockquote></p><p> See the chart below:</p><p><blockquote>请参阅下图：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/688b2b77400231262232209461b60052\" tg-width=\"1212\" tg-height=\"632\" width=\"100%\" height=\"auto\"><span>Figure 2: ARKK holdings of Teladoc Health.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图 2：Teladoc Health 的 ARKK 持股。</span></p></blockquote></p><p> <b>Why is TDOC a meme stock?</b></p><p><blockquote><b>为什么 TDOC 是一只模因股票？</b></blockquote></p><p> The recently launched MEME ETF bases its methodology for selecting “meme stocks” on factors including a “social media activity score” (which itself is based on the number of social media mentions) and a short interest-based ranking. Holdings are then adjusted every two weeks based on updated calculations.</p><p><blockquote>最近推出的 MEME ETF 选择 “MEME 股票 ”的方法基于 “社交媒体活动得分 ”（社交媒体活动得分本身是基于社交媒体提及次数）和基于兴趣的空头排名等因素。然后根据更新的计算每两周调整一次持有量。</blockquote></p><p> Teladoc sits at the third position, by weight, on the MEME ETF holdings list (see below).</p><p><blockquote>按权重计算，Teladoc 在 MEME ETF 持有名单中排名第三（见下文）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/709d088c2501963d4a67373794a1b597\" tg-width=\"898\" tg-height=\"559\" width=\"100%\" height=\"auto\"><span>Figure 3: MEME ETF holdings.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图 3：模因 ETF 持有量。</span></p></blockquote></p><p> A sizable&nbsp;14% of TDOC’s float&nbsp;is currently shorted. Bearishness surrounding the stock’s poor trading performance and weak outlooks for a post-pandemic scenario may have worked to drive both TDOC’s short interest<i>and</i>its popularity on main discussion forums.</p><p><blockquote>目前，TDOC 有 14% 的流通量被做空。围绕该股糟糕交易表现的看跌情绪以及大流行后情景的疲软前景可能推动了 TDOC 的空头兴趣。<i>和</i>它在主要论坛上的受欢迎程度。</blockquote></p><p> <b>Wall Street sees TDOC as undervalued</b></p><p><blockquote><b>华尔街认为 TDOC 被低估</b></blockquote></p><p> Analysts’&nbsp;consensus&nbsp;on TDOC shares currently suggests the stock is a “moderate buy.” Its average price target, $159, implies a 67% upside ahead – that’s based on the last three months of analysis provided by 22 Wall Street experts.</p><p><blockquote>分析师目前对 TDOC 股票的共识是 “适度买入”。其平均目标价为 159 美元，意味着未来有 67% 的上涨空间--这是根据 22 位华尔街专家过去三个月提供的分析得出的。</blockquote></p><p> Bulls, like Credit Suisse’s Jailendra Singh, forecast more than 115% upside potential ahead for Teladoc stock. His buy rating is based on Teladoc outperforming its peers. But he also&nbsp;mentioned&nbsp;that downside risks such as loss of any major contracts and failure to improve revenue and margins from current members may impact his bullish share price target, which he&nbsp;lowered&nbsp;by a dollar a month ago to $207.</p><p><blockquote>瑞士信贷（Credit Suisse）的贾伦德拉-辛格（Jailendra Singh）等多头预测，Teladoc 股票未来的上涨潜力将超过 115%。他的买入评级是基于 Teladoc 的表现优于同行。但他也提到，失去任何主要合同以及未能提高现有成员的收入和利润率等下行风险可能会影响他的看涨股价目标，他一个月前将该目标下调了 1 美元，至 207 美元。</blockquote></p><p></p><p> At the same time, even a more skeptical analyst, like Jefferies analyst Glen Santagelo, who put out a&nbsp;neutral&nbsp;rating on TDOC shares, sees 18% upside ahead. Santagelo is concerned about multiple upcoming expansions, as revenue deceleration and investments’ impact on margins for FY 2022 may have compromised some of TDOC’s acquisition power. Nevertheless, the analyst remains “cautiously optimistic” on their outlook for Primary360, a key service that allows members to choose a primary care provider and work with a care team.</p><p><blockquote>与此同时，即使是一位更为怀疑的分析师，比如杰富瑞分析师格伦·桑塔杰洛（Glen Santagelo），他对 TDOC 股票给出了中性评级，也认为未来还有 18% 的上涨空间。Santagelo 对即将进行的多项扩张感到担忧，因为收入放缓和投资对 2022 财年利润率的影响可能会损害 TDOC 的部分收购能力。尽管如此，这位分析师对 Primary360 的前景仍然 “谨慎乐观”，Primary360 是一项重要服务，允许会员选择初级保健提供者并与护理团队合作。</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>Teladoc Stock: Is Cathie Wood’s Meme Stock a Buy?<blockquote>Teladoc 股票： Cathie Wood 的 Meme 股票值得买入吗？</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\">\nTeladoc Stock: Is Cathie Wood’s Meme Stock a Buy?<blockquote>Teladoc 股票： Cathie Wood 的 Meme 股票值得买入吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-12-27 14:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Teladoc has arguably reached “meme” status. But this Cathie Wood-backed telemedicine company is nearly 70% off its all-time highs from earlier this year.</p><p><blockquote>Teladoc 可以说已经达到了 “迷因 ”的地位。但这家由 Cathie Wood 支持的远程医疗公司较今年早些时候的历史高点下跌了近 70%。</blockquote></p><p> The largest telehealth provider company in the world, Teladoc&nbsp;has been looking quite meme-y as of late. Its popularity on major discussion forums has risen; there’s increased short interest following its poor trading performance through the latter half of this year;<i>and</i>TDOC shares are one of the main holdings of the recently launched MEME ETF.</p><p><blockquote>作为世界上最大的远程医疗提供商，Teladoc最近看起来相当迷因化。它在主要论坛上的受欢迎程度有所上升；由于今年下半年交易表现不佳，空头兴趣有所增加；<i>和</i>TDOC 股票是最近推出的 MEME ETF 的主要持股之一。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1d7ade96a142c2c31535c4c05941b745\" tg-width=\"1240\" tg-height=\"930\" width=\"100%\" height=\"auto\"><span>Figure 1: Teladoc offices.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：Teladoc办公室。</span></p></blockquote></p><p> Teladoc stock has also drawn investors’ attention because the company is one of the largest positions in Cathie Wood’s ARK Invest ETF family. The company was chosen for its disruptive business model, which fits right in with Ms. Wood’s investment strategy.</p><p><blockquote>Teladoc 股票也引起了投资者的关注，因为该公司是 Cathie Wood 的 ARK Invest ETF 家族中最大的持仓之一。该公司因其颠覆性的商业模式而被选中，这与伍德女士的投资策略非常契合。</blockquote></p><p> Here, we’ll take a closer look at Cathie Wood's “meme stock” bet. This is what you should know about TDOC shares.</p><p><blockquote>在这里，我们将仔细看看凯西-伍德（Cathie Wood）的 “备忘录股票 ”赌注。这是您应该了解的有关 TDOC 股票的信息。</blockquote></p><p> <b>Cathie Wood is buying the dip</b></p><p><blockquote><b>凯西·伍德逢低买入</b></blockquote></p><p> Cathie Wood’s bullishness on Teladoc stock is undeniable. The telemedicine company is thelargestholding, by percentage, in the ARK Genomic Revolution ETF&nbsp;(<b>ARKG</b>), accounting for 7% of the fund. It’s also thethird-largestholding on the ARK Innovation ETF&nbsp;(<b>ARKK</b>), accounting for 6.5% of the fund and sitting below only Tesla&nbsp;(<b>TSLA</b>)&nbsp;and Roku&nbsp;(<b>ROKU</b>)&nbsp;in weight share.</p><p><blockquote>凯西-伍德（Cathie Wood）对 Teladoc 股票的看好是不可否认的。按百分比计算，这家远程医疗公司是 ARK Genomic Revolution ETF 中最大的持股公司（<b>方舟</b>），占基金的7%。它也是方舟创新 ETF 的第三大持股（<b>方舟</b>），占基金的6.5%，仅次于特斯拉（<b>特斯拉</b>）和Roku（<b>ROKU</b>）的重量份额。</blockquote></p><p> In all of Ark Invest’s ETFs combined, Teladoc stock is the second-largest holding. In fact, Ark Invest owns nearly 11% of all TDOC shares, with shares having been bought at prices ranging from $148 to $172.</p><p><blockquote>在 Ark Invest 的所有 ETF 中，Teladoc 股票是第二大持股。事实上，Ark Invest 拥有 TDOC 所有股票的近 11%，股票的购买价格从 148 美元到 172 美元不等。</blockquote></p><p> Cathie Wood&nbsp;started&nbsp;investing in Teladoc in September of 2020, right in the middle of the COVID-19 pandemic. Early this year, Wood&nbsp;mentioned&nbsp;that her bullishness on Teladoc is due to her optimism about telemedicine innovations driven by artificial intelligence (AI). She expects the AI market to potentially reach $30 trillion over the next ten years. Following Teledoc’s&nbsp;acquisition of Livongo, Mrs. Wood believes Teladoc stands to be a clear beneficiary of AI market trends.</p><p><blockquote>Cathie Wood 于 2020 年 9 月开始投资 Teladoc，当时正值 COVID-19 大流行期间。今年早些时候，伍德提到，她看好Teladoc是因为她对人工智能（AI）驱动的远程医疗创新持乐观态度。她预计未来十年人工智能市场可能达到 30 万亿美元。在 Teledoc 收购 Livongo 之后，Wood 女士认为 Teledoc 将成为人工智能市场趋势的明显受益者。</blockquote></p><p> When asked about the prospect of Teladoc and other pandemic stay-at-home plays in a post-pandemic world, Mrs. Wood reiterated her belief that COVID-19 has only accelerated ongoing innovation processes, which will continue whether or not the pandemic peters out.</p><p><blockquote>当被问及Teladoc和其他疫情在家游戏在后疫情世界中的前景时，伍德女士重申了她的信念，即新冠肺炎只是加速了正在进行的创新进程，无论疫情是否退出，创新进程都将继续下去。</blockquote></p><p> Mrs. Wood made these statements in late February 2021. Since then, TDOC stock has dropped nearly 65% — yet Wood has continued to buy dips even into early December this year.</p><p><blockquote>伍德夫人在2021年2月下旬发表了这些声明。此后，TDOC 股价下跌了近 65%，但伍德甚至在今年 12 月初仍在继续逢低买入。</blockquote></p><p> See the chart below:</p><p><blockquote>请参阅下图：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/688b2b77400231262232209461b60052\" tg-width=\"1212\" tg-height=\"632\" width=\"100%\" height=\"auto\"><span>Figure 2: ARKK holdings of Teladoc Health.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图 2：Teladoc Health 的 ARKK 持股。</span></p></blockquote></p><p> <b>Why is TDOC a meme stock?</b></p><p><blockquote><b>为什么 TDOC 是一只模因股票？</b></blockquote></p><p> The recently launched MEME ETF bases its methodology for selecting “meme stocks” on factors including a “social media activity score” (which itself is based on the number of social media mentions) and a short interest-based ranking. Holdings are then adjusted every two weeks based on updated calculations.</p><p><blockquote>最近推出的 MEME ETF 选择 “MEME 股票 ”的方法基于 “社交媒体活动得分 ”（社交媒体活动得分本身是基于社交媒体提及次数）和基于兴趣的空头排名等因素。然后根据更新的计算每两周调整一次持有量。</blockquote></p><p> Teladoc sits at the third position, by weight, on the MEME ETF holdings list (see below).</p><p><blockquote>按权重计算，Teladoc 在 MEME ETF 持有名单中排名第三（见下文）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/709d088c2501963d4a67373794a1b597\" tg-width=\"898\" tg-height=\"559\" width=\"100%\" height=\"auto\"><span>Figure 3: MEME ETF holdings.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图 3：模因 ETF 持有量。</span></p></blockquote></p><p> A sizable&nbsp;14% of TDOC’s float&nbsp;is currently shorted. Bearishness surrounding the stock’s poor trading performance and weak outlooks for a post-pandemic scenario may have worked to drive both TDOC’s short interest<i>and</i>its popularity on main discussion forums.</p><p><blockquote>目前，TDOC 有 14% 的流通量被做空。围绕该股糟糕交易表现的看跌情绪以及大流行后情景的疲软前景可能推动了 TDOC 的空头兴趣。<i>和</i>它在主要论坛上的受欢迎程度。</blockquote></p><p> <b>Wall Street sees TDOC as undervalued</b></p><p><blockquote><b>华尔街认为 TDOC 被低估</b></blockquote></p><p> Analysts’&nbsp;consensus&nbsp;on TDOC shares currently suggests the stock is a “moderate buy.” Its average price target, $159, implies a 67% upside ahead – that’s based on the last three months of analysis provided by 22 Wall Street experts.</p><p><blockquote>分析师目前对 TDOC 股票的共识是 “适度买入”。其平均目标价为 159 美元，意味着未来有 67% 的上涨空间--这是根据 22 位华尔街专家过去三个月提供的分析得出的。</blockquote></p><p> Bulls, like Credit Suisse’s Jailendra Singh, forecast more than 115% upside potential ahead for Teladoc stock. His buy rating is based on Teladoc outperforming its peers. But he also&nbsp;mentioned&nbsp;that downside risks such as loss of any major contracts and failure to improve revenue and margins from current members may impact his bullish share price target, which he&nbsp;lowered&nbsp;by a dollar a month ago to $207.</p><p><blockquote>瑞士信贷（Credit Suisse）的贾伦德拉-辛格（Jailendra Singh）等多头预测，Teladoc 股票未来的上涨潜力将超过 115%。他的买入评级是基于 Teladoc 的表现优于同行。但他也提到，失去任何主要合同以及未能提高现有成员的收入和利润率等下行风险可能会影响他的看涨股价目标，他一个月前将该目标下调了 1 美元，至 207 美元。</blockquote></p><p></p><p> At the same time, even a more skeptical analyst, like Jefferies analyst Glen Santagelo, who put out a&nbsp;neutral&nbsp;rating on TDOC shares, sees 18% upside ahead. Santagelo is concerned about multiple upcoming expansions, as revenue deceleration and investments’ impact on margins for FY 2022 may have compromised some of TDOC’s acquisition power. Nevertheless, the analyst remains “cautiously optimistic” on their outlook for Primary360, a key service that allows members to choose a primary care provider and work with a care team.</p><p><blockquote>与此同时，即使是一位更为怀疑的分析师，比如杰富瑞分析师格伦·桑塔杰洛（Glen Santagelo），他对 TDOC 股票给出了中性评级，也认为未来还有 18% 的上涨空间。Santagelo 对即将进行的多项扩张感到担忧，因为收入放缓和投资对 2022 财年利润率的影响可能会损害 TDOC 的部分收购能力。尽管如此，这位分析师对 Primary360 的前景仍然 “谨慎乐观”，Primary360 是一项重要服务，允许会员选择初级保健提供者并与护理团队合作。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/memestocks/other-memes/teladoc-stock-is-cathie-woods-meme-stock-a-buy\">TheStreet</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":{"TDOC":"Teladoc Health Inc."},"source_url":"https://www.thestreet.com/memestocks/other-memes/teladoc-stock-is-cathie-woods-meme-stock-a-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170511361","content_text":"Teladoc has arguably reached “meme” status. But this Cathie Wood-backed telemedicine company is nearly 70% off its all-time highs from earlier this year.\nThe largest telehealth provider company in the world, Teladoc has been looking quite meme-y as of late. Its popularity on major discussion forums has risen; there’s increased short interest following its poor trading performance through the latter half of this year;andTDOC shares are one of the main holdings of the recently launched MEME ETF.\nFigure 1: Teladoc offices.\nTeladoc stock has also drawn investors’ attention because the company is one of the largest positions in Cathie Wood’s ARK Invest ETF family. The company was chosen for its disruptive business model, which fits right in with Ms. Wood’s investment strategy.\nHere, we’ll take a closer look at Cathie Wood's “meme stock” bet. This is what you should know about TDOC shares.\nCathie Wood is buying the dip\nCathie Wood’s bullishness on Teladoc stock is undeniable. The telemedicine company is thelargestholding, by percentage, in the ARK Genomic Revolution ETF (ARKG), accounting for 7% of the fund. It’s also thethird-largestholding on the ARK Innovation ETF (ARKK), accounting for 6.5% of the fund and sitting below only Tesla (TSLA) and Roku (ROKU) in weight share.\nIn all of Ark Invest’s ETFs combined, Teladoc stock is the second-largest holding. In fact, Ark Invest owns nearly 11% of all TDOC shares, with shares having been bought at prices ranging from $148 to $172.\nCathie Wood started investing in Teladoc in September of 2020, right in the middle of the COVID-19 pandemic. Early this year, Wood mentioned that her bullishness on Teladoc is due to her optimism about telemedicine innovations driven by artificial intelligence (AI). She expects the AI market to potentially reach $30 trillion over the next ten years. Following Teledoc’s acquisition of Livongo, Mrs. Wood believes Teladoc stands to be a clear beneficiary of AI market trends.\nWhen asked about the prospect of Teladoc and other pandemic stay-at-home plays in a post-pandemic world, Mrs. Wood reiterated her belief that COVID-19 has only accelerated ongoing innovation processes, which will continue whether or not the pandemic peters out.\nMrs. Wood made these statements in late February 2021. Since then, TDOC stock has dropped nearly 65% — yet Wood has continued to buy dips even into early December this year.\nSee the chart below:\nFigure 2: ARKK holdings of Teladoc Health.\nWhy is TDOC a meme stock?\nThe recently launched MEME ETF bases its methodology for selecting “meme stocks” on factors including a “social media activity score” (which itself is based on the number of social media mentions) and a short interest-based ranking. Holdings are then adjusted every two weeks based on updated calculations.\nTeladoc sits at the third position, by weight, on the MEME ETF holdings list (see below).\nFigure 3: MEME ETF holdings.\nA sizable 14% of TDOC’s float is currently shorted. Bearishness surrounding the stock’s poor trading performance and weak outlooks for a post-pandemic scenario may have worked to drive both TDOC’s short interestandits popularity on main discussion forums.\nWall Street sees TDOC as undervalued\nAnalysts’ consensus on TDOC shares currently suggests the stock is a “moderate buy.” Its average price target, $159, implies a 67% upside ahead – that’s based on the last three months of analysis provided by 22 Wall Street experts.\nBulls, like Credit Suisse’s Jailendra Singh, forecast more than 115% upside potential ahead for Teladoc stock. His buy rating is based on Teladoc outperforming its peers. But he also mentioned that downside risks such as loss of any major contracts and failure to improve revenue and margins from current members may impact his bullish share price target, which he lowered by a dollar a month ago to $207.\nAt the same time, even a more skeptical analyst, like Jefferies analyst Glen Santagelo, who put out a neutral rating on TDOC shares, sees 18% upside ahead. Santagelo is concerned about multiple upcoming expansions, as revenue deceleration and investments’ impact on margins for FY 2022 may have compromised some of TDOC’s acquisition power. Nevertheless, the analyst remains “cautiously optimistic” on their outlook for Primary360, a key service that allows members to choose a primary care provider and work with a care team.","news_type":1,"symbols_score_info":{"TDOC":0.9}},"isVote":1,"tweetType":1,"viewCount":1533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":195418906,"gmtCreate":1621307026905,"gmtModify":1634192576248,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"like n cmt&nbsp;","listText":"like n cmt&nbsp;","text":"like n cmt","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/195418906","repostId":"2136295438","repostType":4,"isVote":1,"tweetType":1,"viewCount":873,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":866608851,"gmtCreate":1632757768573,"gmtModify":1632798031296,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"👛","listText":"👛","text":"👛","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/866608851","repostId":"2170623235","repostType":4,"isVote":1,"tweetType":1,"viewCount":787,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":166162628,"gmtCreate":1623997267564,"gmtModify":1634024360835,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"pl like n comment&nbsp;","listText":"pl like n comment&nbsp;","text":"pl like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/166162628","repostId":"1175693382","repostType":4,"repost":{"id":"1175693382","kind":"news","pubTimestamp":1623978463,"share":"https://www.laohunote.com/m/news/1175693382?lang=zh_CN&edition=full","pubTime":"2021-06-18 09:07","market":"us","language":"en","title":"Alibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175693382","media":"seekingalpha","summary":"Alibaba is probably the most undervalued growth stock right now.The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.The short term technical picture may be turning bullish with a potential double bottom price action signal.When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Alibaba is probably the most undervalued growth stock right now.</li>  <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>  <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>  <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW可能是目前最被低估的成长型股票。</li><li>该公司在快速扩张的市场中拥有多种增长动力，这使得其估值看起来更加令人困惑。</li><li>短期技术面可能会随着潜在的双底价格行动信号而转向看涨。</li><li>我们将讨论公司的多重增长动力，让投资者自己判断。</li></ul><p class=\"t-img-caption\"><span>戴永元/iStock 未通过 Getty Images 发布</span></p></blockquote></p><p> <b>The Technical Thesis</b></p><p><blockquote><b>技术论文</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：TradingView</span></p></blockquote></p><p> Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p><p><blockquote>自 11 月 20 日初蚂蚁金服 IPO 被撤销以来，阿里巴巴-SW的股价经历了可怕的 8 个月，该股在低迷中萎靡不振，较高点下跌了 34%。在考虑其长期上升趋势的健康状况时，很明显，阿里巴巴具有相对较强的上升趋势偏差，并且在其关键的 50W 均线上总体上得到了良好的支撑。在过去 4 年中，它唯一一次失去关键的 50W MA 支撑位是在 2018 年熊市期间，当时阿里巴巴下跌了约 40%，但仍在重要的 200W MA 上方得到良好支撑，我们通常认为这是 “最后一道防线”。现在阿里巴巴再次面临类似的情况：下跌34%，失去了50W MA，但看起来在200W MA以上得到了很好的支撑。除此之外，价格行为分析中的一个有趣观察可能会导致价格行为交易者/投资者特别看涨：潜在的双底形成。阿里巴巴的价格似乎正在经历双底，就像 2018 年熊市期间一样，随后强劲反弹。因此，阿里巴巴目前的水平可能是一个可能的技术性买入切入点。</blockquote></p><p> <b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p><p><blockquote><b>阿里巴巴的基本论点：快速扩张的增长动力</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年度GMV。数据来源：公司文件</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年度电子商务收入。数据来源：公司文件</span></p></blockquote></p><p> BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p><p><blockquote>阿里巴巴的GMV从1.68吨人民币增长到7.49吨人民币，仅用了7年时间，复合年增长率达到了23.8%，增长率着实惊人。我们还看到其 GMV 增长转化为收入增长，其中国商业收入从 76.7 亿元人民币增长到 473.68 亿元人民币，过去 10 年的复合年增长率为 51%。虽然其国际足迹仍然小得多，但在过去10年中，其CAGR仍以30.42%的速度增长，这绝不是缓慢的。</blockquote></p><p> Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p><p><blockquote>尽管未来三年中国电子商务市场的增长速度预计将大幅放缓，复合年增长率为 12.4%，从 2021 年的 13.8 万亿元人民币（相当于 2.16 万亿元人民币）下降到 2024 年的 19.6 万亿元人民币（相当于 3.06 万亿元人民币），但庞大的市场规模仍然为阿里巴巴及其最接近的竞争对手提供了巨大的增长潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p><p><blockquote><p class=\"t-img-caption\"><span>美国电子商务收入数据来源：Statista</span></p></blockquote></p><p> When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p><p><blockquote>当我们将中国市场的增长率和规模与美国电子商务市场进行比较时，我们可以看到它们在规模和增长率上的巨大差异，因为美国电子商务市场从 2021 年到 2025 年的复合年增长率预计仅为 4.67%，大大低于中国的 12.4%。此外，美国市场的总收入预计也将达到约 5630 亿美元，相当于届时中国市场预期价值的 18%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行息税前利润率和预计息税前利润率。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p><p><blockquote>尽管阿里巴巴-SW一直面临着来自其快速增长的主要竞争对手京东（纳斯达克股票代码：JD）和拼多多（纳斯达克股票代码：PDD）的越来越大的竞争压力，但阿里巴巴已经经营着一项利润更高的业务（息税前税前利润和自由现金流），并且预计将继续实现强劲的盈利能力展望未来，这将为该公司提供巨大的灵活性，以与京东和PDD正面竞争，以扩大其领导地位。投资者可能会注意到，阿里巴巴的息税前利润率受到了其 SG&amp;A 中反映的 27.82 亿美元一次性行政罚款的影响，因此其息税前利润率向下倾斜。</blockquote></p><p></p><p> One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p><p><blockquote>其中一个重要举措是公司决定进一步投资社区市场，这是 PDD 的主要电子商务战略，PDD 在最近一个季度共获得了 8.23 亿 AAC，而阿里巴巴的 8.91 亿 AAC。考虑到 2017 年第二季度 PDD 的 AAC 数量仅为 1 亿，而同期阿里巴巴的 AAC 数量为 4.66 亿，PDD 的 AAC 增长确实惊人。</blockquote></p><p> Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p><p><blockquote>因此，增长势头肯定已经转移到社区市场领域，阿里巴巴需要拿出它的大枪（它已经拥有）来与PDD和京东争夺主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国社区团购的市场规模。数据来源：艾媒咨询</span></p></blockquote></p><p> Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p><p><blockquote>尽管预计到 2022 年 1020 亿元人民币的总市场规模仅占阿里巴巴 21 财年中国商业收入的 21.5% 左右，但阿里巴巴不能错过 2019 年至 2022 年 3 年间 44.22% 的快速复合年增长率。虽然这个市场还比较小，但阿里巴巴不能让这个市场目前的领头羊：PDD在众人不知情的情况下，如此轻易地占据主导地位，吞噬早期的高增长率。当然，阿里巴巴必须竞争并争取其在这一领域的地位，并争取早期领导地位，以防止PDD扩大其领先优势。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>PDD盈利指标和收入增长预测。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p><p><blockquote>从上图中我们可以观察到，PDD 预计将在未来几年继续快速增长其收入，尽管预计随后将恢复正常。更重要的是，PDD 预计未来还将不断提高其息税前利润和自由现金流盈利能力。这表明，社区市场是一个非常重要的增长动力，阿里巴巴必须利用其优势加以利用，才能在游戏初期否认 PDD 无可争议的领导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公共云支出。来源：中国互联网观察；通道</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云市场规模。数据来源：CAICT；新浪网</span></p></blockquote></p><p> BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p><p><blockquote>阿里巴巴在中国公共云市场占有 40% 的份额，远远领先于其主要竞争对手。然而，值得注意的是，尽管阿里巴巴处于领先地位，但阿里巴巴仍处于大量投资模式，以继续扩大其市场份额，因为中国公共云市场预计将从 2017 年的 264.8 亿元人民币增长到 2023 年的 2307.4 亿元人民币，复合年增长率将达到 43.4%，这是一个令人难以置信的惊人增长率。当我们将中国的增长率与全球增长率（见下文）进行比较时，这一点尤为明显，因为全球公共云支出预计将从 2017 年的 1450 亿美元增长到 2022 年的 3970 亿美元，复合年增长率将达到 22.3%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云支出。数据来源：Gartner</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云市场份额。资料来源：CnTechPost；高德纳</span></p></blockquote></p><p> Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p><p><blockquote>因此，阿里云在 2020 年以 9.5% 的市场份额继续扩大对Alphabet（纳斯达克股票代码：GOOGL）（纳斯达克股票代码：GOOG）GCP 的领先优势，我并不感到惊讶。虽然亚马逊仍然是市场的明显领导者，但随着公共云支出的持续扩大，其市场份额大幅下降，这表明多个参与者存在巨大的增长潜力。凭借阿里巴巴在快速扩张的中国市场的领导地位，我越来越看好该细分市场未来的利润和自由现金流对阿里巴巴业绩的贡献。虽然阿里巴巴的云业务尚未实现息税前利润（21 财年息税前利润率：-15%，20 财年息税前利润率：-17.5%），但值得注意的是，Alphabet的 GCP 也没有实现盈利（20 财年息税前利润率：-42.9%，19 财年息税前利润率：-52%）。因此，我们需要给阿里巴巴一些时间来扩大其在亚太地区和中国的云服务，预计阿里巴巴将在这些地区拥有更强大的领导地位，使其能够更快地增长，投资者应该预计随着时间的推移，这将是一个高利润的细分市场。</blockquote></p><p> <b>BABA's Valuations Look Highly Compelling</b></p><p><blockquote><b>阿里巴巴的估值看起来非常有说服力</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p><p><blockquote><p class=\"t-img-caption\"><span>NTM TEV/息税前利润3年范围。</span></p></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>电动汽车/前轮驱动息税前利润和电动汽车/前轮驱动转速趋势。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p><p><blockquote>当我们考虑到阿里巴巴的 TEV / EBIT 历史范围（3 年平均值为 33.54 倍）时，阿里巴巴的 EV / Fwd EBIT 趋势无疑意味着该股被严重低估，因为阿里巴巴的收入和营业利润仍有望快速增长。不过，由于我们希望更清楚地了解阿里巴巴的息税前利润是如何估值的，因此我们认为，如果我们对阿里巴巴的息税前利润进行估值，这将是有用的，如下所示。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行EV/EBIT估值。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p><p><blockquote>通过混合使用历史息税前利润和远期息税前利润，我们可以看到，与基准公司的一组观察值的中值相比，阿里巴巴的电动汽车/息税前利润看起来确实被低估了。我们得出阿里巴巴在区间中点的公允价值区间为 294.98 美元，基于当前 210 美元的股价，这代表着 40.5% 的潜在上涨空间。</blockquote></p><p> <b>Risks to Assumptions</b></p><p><blockquote><b>假设风险</b></blockquote></p><p> Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p><p><blockquote>现在，看着 Mr.市场决定对阿里巴巴进行折扣，就好像该公司已经失去了所有关键的增长来源，而事实上，其商业部门、新的市场计划和不断增长的阿里云部门等仍有很大的潜在上涨空间。我们认为该股表现不佳的主要现实原因仅仅是监管风险。我们认为投资者应该认识到这种风险是非常真实的，有时大型中国公司会发现自己受到中国政府的额外审查（事实上这并不是什么新鲜事）。关键在于，中国政府似乎对其科技巨头的行为和行动拥有巨大的影响力，而这些行为和行动有时在很大程度上是不可预测的。市场当然讨厌不可预测性，因此他们可能因此大幅打折阿里巴巴。如果投资者无法应对潜在不可预测的监管行动及其后果的不确定性，那么阿里巴巴可能不适合您。然而，如果你认为这只是阿里巴巴漫长征程中的一个昙花一现，那么你一定会发现阿里巴巴现在的估值极具吸引力，再加上长期思维。</blockquote></p><p> <b>Wrapping It All Up</b></p><p><blockquote><b>把这一切都包起来</b></blockquote></p><p> Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p><p><blockquote>阿里巴巴-SW继续交付稳健的业绩，证明了该公司良好执行的强大能力。由于公司将继续在一个拥有众多增长动力的市场中运营，这些增长动力有望推动公司未来的增长，投资者应该会发现目前的估值极具吸引力。</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>Alibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</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\">\nAlibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-18 09:07</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>Alibaba is probably the most undervalued growth stock right now.</li>  <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>  <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>  <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW可能是目前最被低估的成长型股票。</li><li>该公司在快速扩张的市场中拥有多种增长动力，这使得其估值看起来更加令人困惑。</li><li>短期技术面可能会随着潜在的双底价格行动信号而转向看涨。</li><li>我们将讨论公司的多重增长动力，让投资者自己判断。</li></ul><p class=\"t-img-caption\"><span>戴永元/iStock 未通过 Getty Images 发布</span></p></blockquote></p><p> <b>The Technical Thesis</b></p><p><blockquote><b>技术论文</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：TradingView</span></p></blockquote></p><p> Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p><p><blockquote>自 11 月 20 日初蚂蚁金服 IPO 被撤销以来，阿里巴巴-SW的股价经历了可怕的 8 个月，该股在低迷中萎靡不振，较高点下跌了 34%。在考虑其长期上升趋势的健康状况时，很明显，阿里巴巴具有相对较强的上升趋势偏差，并且在其关键的 50W 均线上总体上得到了良好的支撑。在过去 4 年中，它唯一一次失去关键的 50W MA 支撑位是在 2018 年熊市期间，当时阿里巴巴下跌了约 40%，但仍在重要的 200W MA 上方得到良好支撑，我们通常认为这是 “最后一道防线”。现在阿里巴巴再次面临类似的情况：下跌34%，失去了50W MA，但看起来在200W MA以上得到了很好的支撑。除此之外，价格行为分析中的一个有趣观察可能会导致价格行为交易者/投资者特别看涨：潜在的双底形成。阿里巴巴的价格似乎正在经历双底，就像 2018 年熊市期间一样，随后强劲反弹。因此，阿里巴巴目前的水平可能是一个可能的技术性买入切入点。</blockquote></p><p> <b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p><p><blockquote><b>阿里巴巴的基本论点：快速扩张的增长动力</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年度GMV。数据来源：公司文件</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年度电子商务收入。数据来源：公司文件</span></p></blockquote></p><p> BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p><p><blockquote>阿里巴巴的GMV从1.68吨人民币增长到7.49吨人民币，仅用了7年时间，复合年增长率达到了23.8%，增长率着实惊人。我们还看到其 GMV 增长转化为收入增长，其中国商业收入从 76.7 亿元人民币增长到 473.68 亿元人民币，过去 10 年的复合年增长率为 51%。虽然其国际足迹仍然小得多，但在过去10年中，其CAGR仍以30.42%的速度增长，这绝不是缓慢的。</blockquote></p><p> Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p><p><blockquote>尽管未来三年中国电子商务市场的增长速度预计将大幅放缓，复合年增长率为 12.4%，从 2021 年的 13.8 万亿元人民币（相当于 2.16 万亿元人民币）下降到 2024 年的 19.6 万亿元人民币（相当于 3.06 万亿元人民币），但庞大的市场规模仍然为阿里巴巴及其最接近的竞争对手提供了巨大的增长潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p><p><blockquote><p class=\"t-img-caption\"><span>美国电子商务收入数据来源：Statista</span></p></blockquote></p><p> When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p><p><blockquote>当我们将中国市场的增长率和规模与美国电子商务市场进行比较时，我们可以看到它们在规模和增长率上的巨大差异，因为美国电子商务市场从 2021 年到 2025 年的复合年增长率预计仅为 4.67%，大大低于中国的 12.4%。此外，美国市场的总收入预计也将达到约 5630 亿美元，相当于届时中国市场预期价值的 18%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行息税前利润率和预计息税前利润率。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p><p><blockquote>尽管阿里巴巴-SW一直面临着来自其快速增长的主要竞争对手京东（纳斯达克股票代码：JD）和拼多多（纳斯达克股票代码：PDD）的越来越大的竞争压力，但阿里巴巴已经经营着一项利润更高的业务（息税前税前利润和自由现金流），并且预计将继续实现强劲的盈利能力展望未来，这将为该公司提供巨大的灵活性，以与京东和PDD正面竞争，以扩大其领导地位。投资者可能会注意到，阿里巴巴的息税前利润率受到了其 SG&amp;A 中反映的 27.82 亿美元一次性行政罚款的影响，因此其息税前利润率向下倾斜。</blockquote></p><p></p><p> One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p><p><blockquote>其中一个重要举措是公司决定进一步投资社区市场，这是 PDD 的主要电子商务战略，PDD 在最近一个季度共获得了 8.23 亿 AAC，而阿里巴巴的 8.91 亿 AAC。考虑到 2017 年第二季度 PDD 的 AAC 数量仅为 1 亿，而同期阿里巴巴的 AAC 数量为 4.66 亿，PDD 的 AAC 增长确实惊人。</blockquote></p><p> Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p><p><blockquote>因此，增长势头肯定已经转移到社区市场领域，阿里巴巴需要拿出它的大枪（它已经拥有）来与PDD和京东争夺主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国社区团购的市场规模。数据来源：艾媒咨询</span></p></blockquote></p><p> Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p><p><blockquote>尽管预计到 2022 年 1020 亿元人民币的总市场规模仅占阿里巴巴 21 财年中国商业收入的 21.5% 左右，但阿里巴巴不能错过 2019 年至 2022 年 3 年间 44.22% 的快速复合年增长率。虽然这个市场还比较小，但阿里巴巴不能让这个市场目前的领头羊：PDD在众人不知情的情况下，如此轻易地占据主导地位，吞噬早期的高增长率。当然，阿里巴巴必须竞争并争取其在这一领域的地位，并争取早期领导地位，以防止PDD扩大其领先优势。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>PDD盈利指标和收入增长预测。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p><p><blockquote>从上图中我们可以观察到，PDD 预计将在未来几年继续快速增长其收入，尽管预计随后将恢复正常。更重要的是，PDD 预计未来还将不断提高其息税前利润和自由现金流盈利能力。这表明，社区市场是一个非常重要的增长动力，阿里巴巴必须利用其优势加以利用，才能在游戏初期否认 PDD 无可争议的领导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公共云支出。来源：中国互联网观察；通道</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云市场规模。数据来源：CAICT；新浪网</span></p></blockquote></p><p> BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p><p><blockquote>阿里巴巴在中国公共云市场占有 40% 的份额，远远领先于其主要竞争对手。然而，值得注意的是，尽管阿里巴巴处于领先地位，但阿里巴巴仍处于大量投资模式，以继续扩大其市场份额，因为中国公共云市场预计将从 2017 年的 264.8 亿元人民币增长到 2023 年的 2307.4 亿元人民币，复合年增长率将达到 43.4%，这是一个令人难以置信的惊人增长率。当我们将中国的增长率与全球增长率（见下文）进行比较时，这一点尤为明显，因为全球公共云支出预计将从 2017 年的 1450 亿美元增长到 2022 年的 3970 亿美元，复合年增长率将达到 22.3%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云支出。数据来源：Gartner</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云市场份额。资料来源：CnTechPost；高德纳</span></p></blockquote></p><p> Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p><p><blockquote>因此，阿里云在 2020 年以 9.5% 的市场份额继续扩大对Alphabet（纳斯达克股票代码：GOOGL）（纳斯达克股票代码：GOOG）GCP 的领先优势，我并不感到惊讶。虽然亚马逊仍然是市场的明显领导者，但随着公共云支出的持续扩大，其市场份额大幅下降，这表明多个参与者存在巨大的增长潜力。凭借阿里巴巴在快速扩张的中国市场的领导地位，我越来越看好该细分市场未来的利润和自由现金流对阿里巴巴业绩的贡献。虽然阿里巴巴的云业务尚未实现息税前利润（21 财年息税前利润率：-15%，20 财年息税前利润率：-17.5%），但值得注意的是，Alphabet的 GCP 也没有实现盈利（20 财年息税前利润率：-42.9%，19 财年息税前利润率：-52%）。因此，我们需要给阿里巴巴一些时间来扩大其在亚太地区和中国的云服务，预计阿里巴巴将在这些地区拥有更强大的领导地位，使其能够更快地增长，投资者应该预计随着时间的推移，这将是一个高利润的细分市场。</blockquote></p><p> <b>BABA's Valuations Look Highly Compelling</b></p><p><blockquote><b>阿里巴巴的估值看起来非常有说服力</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p><p><blockquote><p class=\"t-img-caption\"><span>NTM TEV/息税前利润3年范围。</span></p></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>电动汽车/前轮驱动息税前利润和电动汽车/前轮驱动转速趋势。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p><p><blockquote>当我们考虑到阿里巴巴的 TEV / EBIT 历史范围（3 年平均值为 33.54 倍）时，阿里巴巴的 EV / Fwd EBIT 趋势无疑意味着该股被严重低估，因为阿里巴巴的收入和营业利润仍有望快速增长。不过，由于我们希望更清楚地了解阿里巴巴的息税前利润是如何估值的，因此我们认为，如果我们对阿里巴巴的息税前利润进行估值，这将是有用的，如下所示。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行EV/EBIT估值。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p><p><blockquote>通过混合使用历史息税前利润和远期息税前利润，我们可以看到，与基准公司的一组观察值的中值相比，阿里巴巴的电动汽车/息税前利润看起来确实被低估了。我们得出阿里巴巴在区间中点的公允价值区间为 294.98 美元，基于当前 210 美元的股价，这代表着 40.5% 的潜在上涨空间。</blockquote></p><p> <b>Risks to Assumptions</b></p><p><blockquote><b>假设风险</b></blockquote></p><p> Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p><p><blockquote>现在，看着 Mr.市场决定对阿里巴巴进行折扣，就好像该公司已经失去了所有关键的增长来源，而事实上，其商业部门、新的市场计划和不断增长的阿里云部门等仍有很大的潜在上涨空间。我们认为该股表现不佳的主要现实原因仅仅是监管风险。我们认为投资者应该认识到这种风险是非常真实的，有时大型中国公司会发现自己受到中国政府的额外审查（事实上这并不是什么新鲜事）。关键在于，中国政府似乎对其科技巨头的行为和行动拥有巨大的影响力，而这些行为和行动有时在很大程度上是不可预测的。市场当然讨厌不可预测性，因此他们可能因此大幅打折阿里巴巴。如果投资者无法应对潜在不可预测的监管行动及其后果的不确定性，那么阿里巴巴可能不适合您。然而，如果你认为这只是阿里巴巴漫长征程中的一个昙花一现，那么你一定会发现阿里巴巴现在的估值极具吸引力，再加上长期思维。</blockquote></p><p> <b>Wrapping It All Up</b></p><p><blockquote><b>把这一切都包起来</b></blockquote></p><p> Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p><p><blockquote>阿里巴巴-SW继续交付稳健的业绩，证明了该公司良好执行的强大能力。由于公司将继续在一个拥有众多增长动力的市场中运营，这些增长动力有望推动公司未来的增长，投资者应该会发现目前的估值极具吸引力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now\">seekingalpha</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":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175693382","content_text":"Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short term technical picture may be turning bullish with a potential double bottom price action signal.\nWe discuss the company’s multiple growth drivers and let investors judge for themselves.\n\nYongyuan Dai/iStock Unreleased via Getty Images\nThe Technical Thesis\nSource: TradingView\nAlibaba’s stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.\nBABA's Fundamental Thesis: Rapidly Expanding Growth Drivers\nAnnual GMV. Data source: Company filings\nAnnual e-commerce revenue. Data source: Company filings\nBABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.\nEven though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.\nE-commerce revenue in the U.S. Data source: Statista\nWhen we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.\nPeers EBIT Margin and Projected EBIT Margin. Data source: S&P Capital IQ\nEven though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&A, and therefore skewed its EBIT margin to the downside.\nOne important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of 823M AAC in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only 100M AAC in Q2’C17 as compared to BABA’s 466M AAC in the same period.\nTherefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.\nMarket size of community group buying in China. Data source: iiMedia Research\nEven though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.\nPDD profitability metrics & revenue growth forecast. Data source: S&P Capital IQ\nWe could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.\nChina public cloud spending. Source:China Internet Watch; Canalys\nSize of China public cloud market. Data source: CAICT; Sina.com.cn\nBABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.\nWorldwide public cloud spending. Data source: Gartner\nWorldwide public cloud market share. Source:CnTechPost; Gartner\nTherefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.\nBABA's Valuations Look Highly Compelling\nNTM TEV / EBIT 3Y range.\nEV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&P Capital IQ\nWhen we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.\nPeers EV / EBIT Valuations. Data source: S&P Capital IQ\nBy using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.\nRisks to Assumptions\nNow, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.\nWrapping It All Up\nAlibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.","news_type":1,"symbols_score_info":{"BABA":0.9,"09988":0.9}},"isVote":1,"tweetType":1,"viewCount":957,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347562470,"gmtCreate":1618502321190,"gmtModify":1634292456547,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"comment pls&nbsp;","listText":"comment pls&nbsp;","text":"comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/347562470","repostId":"1125635474","repostType":4,"isVote":1,"tweetType":1,"viewCount":653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":694391913,"gmtCreate":1641806328163,"gmtModify":1641806328363,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqqqq","listText":"Qqqqq","text":"Qqqqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/694391913","repostId":"1199490797","repostType":4,"repost":{"id":"1199490797","kind":"news","pubTimestamp":1641828722,"share":"https://www.laohunote.com/m/news/1199490797?lang=zh_CN&edition=full","pubTime":"2022-01-10 23:32","market":"us","language":"en","title":"Is Tesla Stock Headed to $1,400 or $67? Why Predicting Auto Makers’ Performance Is Tricky<blockquote>特斯拉股价将达到 1,400 美元还是 67 美元？为什么预测汽车制造商的业绩很棘手</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199490797","media":"Barrons","summary":"Who needs parody cryptocurrency when car stocks are this exciting?","content":"<p><html><head></head><body>Who needs parody cryptocurrency when car stocks are this exciting? Ford Motor, General Motors, Tesla, and Rivian Automotive each had price swings of more than 10% during the first trading week of the year. This, after some heady gains for the group last year.</p><p><blockquote><html><head></head><body>当汽车股如此令人兴奋时，谁还需要模仿加密货币？福特汽车公司、通用汽车公司、特斯拉公司和Rivian公司在今年第一个交易周的价格波动均超过 10%。这是在该集团去年取得一些令人兴奋的收益之后。</body></html></blockquote></p><p>Predicting performance from here won’t be easy. I recently spoke with one analyst who says Tesla stock (ticker: TSLA) is headed to $1,400, and another who says $67. You know what they say: Sometimes you have to agree to disagree by a factor of 20.</p><p><blockquote>从这里预测性能并不容易。我最近与一位分析师交谈过，他表示特斯拉股票（股票代码：TSLA）将达到 1,400 美元，另一位分析师表示将达到 67 美元。你知道他们说什么：有时候你必须同意20倍的不同意见。</blockquote></p><p>Tesla made the first big move, jumping 13.5% on Monday after the company reported fourth-quarter deliveries of 308,600 vehicles, trouncing estimates and its own record. Next, Ford (F) gained 11.7% on Tuesday after it announced that it would raise production of its first electric pickup, the F-150 Lightning, to 150,000 units a year.</p><p><blockquote>特斯拉公布第四季度交付量为 308,600 辆，超出预期和自身纪录，周一股价上涨 13.5%。接下来，福特 (F) 周二上涨 11.7%，此前该公司宣布将其首款电动皮卡 F-150 Lightning 的产量提高到每年 15 万辆。</blockquote></p><p>By that point in the week, General Motors stock (GM) was already up 12% in anticipation of its Chevy Silverado electric pickup truck unveiling, planned for Wednesday at the Consumer Electronics Show. But on the day of the announcement, shares slipped. Maybe investors were disappointed in the delivery timing, or maybe it was because the broad market tanked on signs that interest rates could rise sooner than expected.</p><p><blockquote>本周那个时候，通用汽车 (GM) 的股价已经上涨了 12%，预计其雪佛兰索罗德电动皮卡车将于周三在消费电子展上亮相。但在公告发布当天，股价下跌。也许投资者对交割时间感到失望，或者也许是因为大盘因利率可能比预期更早上升的迹象而下跌。</blockquote></p><p>What the Ford and Chevy pickups have in common is that they will target workers as well as suburban preeners in unblemished Carhartt jackets. Early versions will be priced around $40,000 and $100,000.</p><p><blockquote>福特和雪佛兰皮卡的共同点是，它们将瞄准穿着完美无瑕的卡哈特夹克的工人和郊区创业者。早期版本的价格将在4万美元和10万美元左右。</blockquote></p><p>The Chevy wins on electric specs—longer battery range and faster charging. But Ford wins on bringing its truck to market this spring. Chevy buyers will have to wait until spring 2023 for the cheaper truck and fall 2023 for the decked-out one. GM will also debut electric Chevy sport utility vehicles in 2023, including an Equinox that will start at $30,000.</p><p><blockquote>雪佛兰在电动规格上获胜——更长的电池续航里程和更快的充电速度。但福特在今年春天将其卡车推向市场方面取得了胜利。雪佛兰买家必须等到 2023 年春季才能买到更便宜的卡车，2023 年秋季才能买到装饰精美的卡车。通用汽车还将于 2023 年推出电动雪佛兰运动型多功能车，其中包括起售价为 30,000 美元的 Equinox。</blockquote></p><p>Pickup trucks could be the key to America’s electric-vehicle uptake. Last year, EVs hit an estimated 4% of total U.S. sales, up from 2%. But Europe and China are well ahead, with penetration rates in the low teens. Americans have so far had few electric choices for the types of vehicles they like to buy. Last year, the Ford F-150 led U.S. new-vehicle sales, as always. The only surprise was that the Ram 1500 pickup pulled ahead of the Chevy Silverado 1500 to be No. 2.</p><p><blockquote>皮卡车可能是美国电动汽车普及的关键。去年，电动汽车估计占美国总销量的 4%，高于 2%。但欧洲和中国遥遥领先，渗透率仅为十几岁。到目前为止，美国人对于他们喜欢购买的车辆类型几乎没有电动选择。去年，福特 F-150 一如既往地引领美国新车销量。唯一令人惊讶的是，Ram 1500 皮卡领先于雪佛兰索罗德 1500，位居第二。</blockquote></p><p>An electric Ram will take until 2024, according to owner Stellantis (STLA), a roll-up of American, Italian, and French brands. Start-up Rivian (RIVN) says it will ship electric pickups this year, but that stock slid 11% this past Wednesday after early backer Amazon.com (AMZN) said it’s putting in an order with Ram for delivery trucks. Tesla’s Cybertruck was expected last year, but has been delayed.</p><p><blockquote>据所有者 Stellantis (STLA) 称，电动 Ram 要到 2024 年才会问世，该公司是美国、意大利和法国品牌的综合体。初创公司Rivian（RIVN）表示，今年将出货电动皮卡，但上周三，在早期支持者亚马逊（AMZN）表示将向 Ram 订购送货卡车后，该公司股价下跌了 11%。特斯拉的 Cybertruck 去年就已上市，但已被推迟。</blockquote></p><p>Pent-up vehicle demand, meanwhile, suggests that a boom is coming. Amid shortages last year, U.S. light-vehicle sales were an estimated 15.1 million units, versus closer to 17 million a year before the pandemic. Average transaction prices have soared 30% from prepandemic levels, and incentives as a percentage of prices are at record lows.</p><p><blockquote>与此同时，被压抑的汽车需求表明繁荣即将到来。由于去年出现短缺，美国轻型汽车销量估计为 1510 万辆，而疫情爆发前每年接近 1700 万辆。平均交易价格已比大流行前的水平飙升了 30%，激励措施占价格的百分比也处于历史低位。</blockquote></p><p>This year, expect unit sales to rise only modestly, but by next year, when showrooms are full and pricing has eased, units could jump to 18 million, Credit Suisse says. EV penetration in the U.S. will double again this year to 8%, and top 50% by 2030, it adds.</p><p><blockquote>瑞士信贷表示，今年预计销量只会小幅增长，但到明年，当展厅爆满且定价放缓时，销量可能会跃升至 1800 万辆。它补充说，美国的电动汽车渗透率今年将再次翻一番，达到 8%，到 2030 年将达到 50%。</blockquote></p><p>One risk for legacy car makers is that they will run to stand still—that they must ramp up EV units with low profit margins for now to offset coming losses in high-margin gasoline models.</p><p><blockquote>传统汽车制造商面临的一个风险是，他们将停滞不前——他们目前必须增加利润率较低的电动汽车，以抵消高利润率汽油车型即将出现的损失。</blockquote></p><p>On the other hand, car makers could shift capacity from gasoline vehicles to electric ones ahead of customers’ willingness to make the switch. That could leave gas vehicles with high prices and profit margins, creating a long, lucrative “farewell tour,” as Morgan Stanley analyst Adam Jonas puts it.</p><p><blockquote>另一方面，汽车制造商可以在客户愿意转向电动汽车之前，将产能从汽油车转移到电动汽车。正如摩根士丹利（Morgan Stanley）分析师亚当-乔纳斯（Adam Jonas）所说，这可能会使汽油车的价格和利润率居高不下，从而造成一段漫长而利润丰厚的 “告别之旅”。</blockquote></p><p>Valuations appear undemanding. Ford goes for 12 times projected earnings, despite doubling in price last year. GM sells for nine times.</p><p><blockquote>估值似乎要求不高。尽管去年的价格翻了一番，但福特的盈利仍是预期的 12 倍。通用汽车的销量是原来的九倍。</blockquote></p><p>The bull case on Tesla is that it will do big things in both cars and adjacent markets. Philippe Houchois, who covers the stock for Jefferies, sees 35% upside from recent levels, to $1,400. Tesla lags behind legacy rivals on things like build quality and finish, but those are solvable problems, he says. It leads on software, batteries, and autonomy, which are durable advantages. He sees Tesla using software to extend the usefulness and profit potential of vehicles.</p><p><blockquote>特斯拉的看涨理由是，它将在汽车和邻近市场大展身手。杰富瑞 (Jefferies) 负责该股的 Philippe Houchois 认为，该股较近期水平上涨 35%，至 1,400 美元。他说，特斯拉在制造质量和表面处理等方面落后于传统竞争对手，但这些都是可以解决的问题。它在软件、电池和自主性方面处于领先地位，这些都是持久的优势。他认为特斯拉正在利用软件来扩展车辆的实用性和利润潜力。</blockquote></p><p>Most versions of the Tesla bear case assume that the company will do well in cars, but not well enough to justify a market value above $1 trillion. For example, J.P. Morgan’s Ryan Brinkman calls his price target of $295 “not ungenerous,” even though it implies a 70% stock plunge, because it values Tesla slightly ahead of world leader Toyota Motor (TM), despite producing a tenth as many cars for now.</p><p><blockquote>大多数版本的特斯拉贝尔案例都假设该公司在汽车领域会表现出色，但还不足以证明其超过 1 万亿美元的市值是合理的。例如，摩根大通（J.P. Morgan）的 Ryan Brinkman 评级，他将 295 美元的目标价定为 “并不慷慨”，尽管这意味着股价将暴跌 70%，因为特斯拉的估值略高于世界领先的丰田汽车（TM），尽管丰田汽车目前的产量只有丰田汽车的十分之一。</blockquote></p><p></p><p>Then there’s Gordon Johnson. He worked at large investment banks before starting GLJ Research, where he covers 20 stocks. He’s bullish on uranium stocks and bearish on cannabis, but all anyone wants to talk about, he says, is his $67 price target on Tesla. “I’ve gotten death threats,” he says. “Now I don’t even answer the phone when I have unknown calls.”</p><p><blockquote>然后是戈登-约翰逊。在开始 GLJ Research 之前，他曾在大型投资银行工作，在那里他研究了 20 只股票。他看好铀股，看跌大麻，但他说，大家只想谈论他对特斯拉的 67 美元目标价。“他说：”我收到了死亡威胁。“现在，当我有未知评级时，我甚至不接电话。”</blockquote></p><p>In Johnson’s view, there’s no reason to assume Tesla will do well in adjacent businesses. “You could take McDonald’s and say they’re going to start selling Nikes and chairs and pianos and add those valuations,” he says. In cars, he calculates that the stock price implies a production ramp-up that no car maker could achieve. “Selling cars is not selling iPhones or shirts,” he says.</p><p><blockquote>在约翰逊看来，没有理由认为特斯拉会在邻近业务中表现出色。“他说：”你可以拿麦当劳来说，他们将开始销售耐克鞋、椅子和钢琴，然后增加这些估值。在汽车方面，他计算出股价意味着任何汽车制造商都无法实现的产量增长。“他说：”卖车不是卖 iPhone 或衬衫。</blockquote></p><p>If Tesla’s three-year stock gain of nearly 1,400% has shaken Johnson’s confidence, it doesn’t show. After walking me through his valuation model, he said he’s concerned that his price target might be too high.</p><p><blockquote>如果说特斯拉三年内近 1400% 的股价涨幅动摇了约翰逊的信心，那么约翰逊的信心并没有显现出来。在向我介绍了他的估值模型后，他说他担心他的目标价可能太高。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","source":"market_watch","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 Tesla Stock Headed to $1,400 or $67? Why Predicting Auto Makers’ Performance Is Tricky<blockquote>特斯拉股价将达到 1,400 美元还是 67 美元？为什么预测汽车制造商的业绩很棘手</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 Tesla Stock Headed to $1,400 or $67? Why Predicting Auto Makers’ Performance Is Tricky<blockquote>特斯拉股价将达到 1,400 美元还是 67 美元？为什么预测汽车制造商的业绩很棘手</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2022-01-10 23:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Who needs parody cryptocurrency when car stocks are this exciting? Ford Motor, General Motors, Tesla, and Rivian Automotive each had price swings of more than 10% during the first trading week of the year. This, after some heady gains for the group last year.</p><p><blockquote><html><head></head><body>当汽车股如此令人兴奋时，谁还需要模仿加密货币？福特汽车公司、通用汽车公司、特斯拉公司和Rivian公司在今年第一个交易周的价格波动均超过 10%。这是在该集团去年取得一些令人兴奋的收益之后。</body></html></blockquote></p><p>Predicting performance from here won’t be easy. I recently spoke with one analyst who says Tesla stock (ticker: TSLA) is headed to $1,400, and another who says $67. You know what they say: Sometimes you have to agree to disagree by a factor of 20.</p><p><blockquote>从这里预测性能并不容易。我最近与一位分析师交谈过，他表示特斯拉股票（股票代码：TSLA）将达到 1,400 美元，另一位分析师表示将达到 67 美元。你知道他们说什么：有时候你必须同意20倍的不同意见。</blockquote></p><p>Tesla made the first big move, jumping 13.5% on Monday after the company reported fourth-quarter deliveries of 308,600 vehicles, trouncing estimates and its own record. Next, Ford (F) gained 11.7% on Tuesday after it announced that it would raise production of its first electric pickup, the F-150 Lightning, to 150,000 units a year.</p><p><blockquote>特斯拉公布第四季度交付量为 308,600 辆，超出预期和自身纪录，周一股价上涨 13.5%。接下来，福特 (F) 周二上涨 11.7%，此前该公司宣布将其首款电动皮卡 F-150 Lightning 的产量提高到每年 15 万辆。</blockquote></p><p>By that point in the week, General Motors stock (GM) was already up 12% in anticipation of its Chevy Silverado electric pickup truck unveiling, planned for Wednesday at the Consumer Electronics Show. But on the day of the announcement, shares slipped. Maybe investors were disappointed in the delivery timing, or maybe it was because the broad market tanked on signs that interest rates could rise sooner than expected.</p><p><blockquote>本周那个时候，通用汽车 (GM) 的股价已经上涨了 12%，预计其雪佛兰索罗德电动皮卡车将于周三在消费电子展上亮相。但在公告发布当天，股价下跌。也许投资者对交割时间感到失望，或者也许是因为大盘因利率可能比预期更早上升的迹象而下跌。</blockquote></p><p>What the Ford and Chevy pickups have in common is that they will target workers as well as suburban preeners in unblemished Carhartt jackets. Early versions will be priced around $40,000 and $100,000.</p><p><blockquote>福特和雪佛兰皮卡的共同点是，它们将瞄准穿着完美无瑕的卡哈特夹克的工人和郊区创业者。早期版本的价格将在4万美元和10万美元左右。</blockquote></p><p>The Chevy wins on electric specs—longer battery range and faster charging. But Ford wins on bringing its truck to market this spring. Chevy buyers will have to wait until spring 2023 for the cheaper truck and fall 2023 for the decked-out one. GM will also debut electric Chevy sport utility vehicles in 2023, including an Equinox that will start at $30,000.</p><p><blockquote>雪佛兰在电动规格上获胜——更长的电池续航里程和更快的充电速度。但福特在今年春天将其卡车推向市场方面取得了胜利。雪佛兰买家必须等到 2023 年春季才能买到更便宜的卡车，2023 年秋季才能买到装饰精美的卡车。通用汽车还将于 2023 年推出电动雪佛兰运动型多功能车，其中包括起售价为 30,000 美元的 Equinox。</blockquote></p><p>Pickup trucks could be the key to America’s electric-vehicle uptake. Last year, EVs hit an estimated 4% of total U.S. sales, up from 2%. But Europe and China are well ahead, with penetration rates in the low teens. Americans have so far had few electric choices for the types of vehicles they like to buy. Last year, the Ford F-150 led U.S. new-vehicle sales, as always. The only surprise was that the Ram 1500 pickup pulled ahead of the Chevy Silverado 1500 to be No. 2.</p><p><blockquote>皮卡车可能是美国电动汽车普及的关键。去年，电动汽车估计占美国总销量的 4%，高于 2%。但欧洲和中国遥遥领先，渗透率仅为十几岁。到目前为止，美国人对于他们喜欢购买的车辆类型几乎没有电动选择。去年，福特 F-150 一如既往地引领美国新车销量。唯一令人惊讶的是，Ram 1500 皮卡领先于雪佛兰索罗德 1500，位居第二。</blockquote></p><p>An electric Ram will take until 2024, according to owner Stellantis (STLA), a roll-up of American, Italian, and French brands. Start-up Rivian (RIVN) says it will ship electric pickups this year, but that stock slid 11% this past Wednesday after early backer Amazon.com (AMZN) said it’s putting in an order with Ram for delivery trucks. Tesla’s Cybertruck was expected last year, but has been delayed.</p><p><blockquote>据所有者 Stellantis (STLA) 称，电动 Ram 要到 2024 年才会问世，该公司是美国、意大利和法国品牌的综合体。初创公司Rivian（RIVN）表示，今年将出货电动皮卡，但上周三，在早期支持者亚马逊（AMZN）表示将向 Ram 订购送货卡车后，该公司股价下跌了 11%。特斯拉的 Cybertruck 去年就已上市，但已被推迟。</blockquote></p><p>Pent-up vehicle demand, meanwhile, suggests that a boom is coming. Amid shortages last year, U.S. light-vehicle sales were an estimated 15.1 million units, versus closer to 17 million a year before the pandemic. Average transaction prices have soared 30% from prepandemic levels, and incentives as a percentage of prices are at record lows.</p><p><blockquote>与此同时，被压抑的汽车需求表明繁荣即将到来。由于去年出现短缺，美国轻型汽车销量估计为 1510 万辆，而疫情爆发前每年接近 1700 万辆。平均交易价格已比大流行前的水平飙升了 30%，激励措施占价格的百分比也处于历史低位。</blockquote></p><p>This year, expect unit sales to rise only modestly, but by next year, when showrooms are full and pricing has eased, units could jump to 18 million, Credit Suisse says. EV penetration in the U.S. will double again this year to 8%, and top 50% by 2030, it adds.</p><p><blockquote>瑞士信贷表示，今年预计销量只会小幅增长，但到明年，当展厅爆满且定价放缓时，销量可能会跃升至 1800 万辆。它补充说，美国的电动汽车渗透率今年将再次翻一番，达到 8%，到 2030 年将达到 50%。</blockquote></p><p>One risk for legacy car makers is that they will run to stand still—that they must ramp up EV units with low profit margins for now to offset coming losses in high-margin gasoline models.</p><p><blockquote>传统汽车制造商面临的一个风险是，他们将停滞不前——他们目前必须增加利润率较低的电动汽车，以抵消高利润率汽油车型即将出现的损失。</blockquote></p><p>On the other hand, car makers could shift capacity from gasoline vehicles to electric ones ahead of customers’ willingness to make the switch. That could leave gas vehicles with high prices and profit margins, creating a long, lucrative “farewell tour,” as Morgan Stanley analyst Adam Jonas puts it.</p><p><blockquote>另一方面，汽车制造商可以在客户愿意转向电动汽车之前，将产能从汽油车转移到电动汽车。正如摩根士丹利（Morgan Stanley）分析师亚当-乔纳斯（Adam Jonas）所说，这可能会使汽油车的价格和利润率居高不下，从而造成一段漫长而利润丰厚的 “告别之旅”。</blockquote></p><p>Valuations appear undemanding. Ford goes for 12 times projected earnings, despite doubling in price last year. GM sells for nine times.</p><p><blockquote>估值似乎要求不高。尽管去年的价格翻了一番，但福特的盈利仍是预期的 12 倍。通用汽车的销量是原来的九倍。</blockquote></p><p>The bull case on Tesla is that it will do big things in both cars and adjacent markets. Philippe Houchois, who covers the stock for Jefferies, sees 35% upside from recent levels, to $1,400. Tesla lags behind legacy rivals on things like build quality and finish, but those are solvable problems, he says. It leads on software, batteries, and autonomy, which are durable advantages. He sees Tesla using software to extend the usefulness and profit potential of vehicles.</p><p><blockquote>特斯拉的看涨理由是，它将在汽车和邻近市场大展身手。杰富瑞 (Jefferies) 负责该股的 Philippe Houchois 认为，该股较近期水平上涨 35%，至 1,400 美元。他说，特斯拉在制造质量和表面处理等方面落后于传统竞争对手，但这些都是可以解决的问题。它在软件、电池和自主性方面处于领先地位，这些都是持久的优势。他认为特斯拉正在利用软件来扩展车辆的实用性和利润潜力。</blockquote></p><p>Most versions of the Tesla bear case assume that the company will do well in cars, but not well enough to justify a market value above $1 trillion. For example, J.P. Morgan’s Ryan Brinkman calls his price target of $295 “not ungenerous,” even though it implies a 70% stock plunge, because it values Tesla slightly ahead of world leader Toyota Motor (TM), despite producing a tenth as many cars for now.</p><p><blockquote>大多数版本的特斯拉贝尔案例都假设该公司在汽车领域会表现出色，但还不足以证明其超过 1 万亿美元的市值是合理的。例如，摩根大通（J.P. Morgan）的 Ryan Brinkman 评级，他将 295 美元的目标价定为 “并不慷慨”，尽管这意味着股价将暴跌 70%，因为特斯拉的估值略高于世界领先的丰田汽车（TM），尽管丰田汽车目前的产量只有丰田汽车的十分之一。</blockquote></p><p></p><p>Then there’s Gordon Johnson. He worked at large investment banks before starting GLJ Research, where he covers 20 stocks. He’s bullish on uranium stocks and bearish on cannabis, but all anyone wants to talk about, he says, is his $67 price target on Tesla. “I’ve gotten death threats,” he says. “Now I don’t even answer the phone when I have unknown calls.”</p><p><blockquote>然后是戈登-约翰逊。在开始 GLJ Research 之前，他曾在大型投资银行工作，在那里他研究了 20 只股票。他看好铀股，看跌大麻，但他说，大家只想谈论他对特斯拉的 67 美元目标价。“他说：”我收到了死亡威胁。“现在，当我有未知评级时，我甚至不接电话。”</blockquote></p><p>In Johnson’s view, there’s no reason to assume Tesla will do well in adjacent businesses. “You could take McDonald’s and say they’re going to start selling Nikes and chairs and pianos and add those valuations,” he says. In cars, he calculates that the stock price implies a production ramp-up that no car maker could achieve. “Selling cars is not selling iPhones or shirts,” he says.</p><p><blockquote>在约翰逊看来，没有理由认为特斯拉会在邻近业务中表现出色。“他说：”你可以拿麦当劳来说，他们将开始销售耐克鞋、椅子和钢琴，然后增加这些估值。在汽车方面，他计算出股价意味着任何汽车制造商都无法实现的产量增长。“他说：”卖车不是卖 iPhone 或衬衫。</blockquote></p><p>If Tesla’s three-year stock gain of nearly 1,400% has shaken Johnson’s confidence, it doesn’t show. After walking me through his valuation model, he said he’s concerned that his price target might be too high.</p><p><blockquote>如果说特斯拉三年内近 1400% 的股价涨幅动摇了约翰逊的信心，那么约翰逊的信心并没有显现出来。在向我介绍了他的估值模型后，他说他担心他的目标价可能太高。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/articles/tesla-ford-rivian-gm-stock-51641597012?mod=mw_quote_news\">Barrons</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":{"GM":"通用汽车","F":"福特汽车","RIVN":"Rivian Automotive, Inc.","TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/articles/tesla-ford-rivian-gm-stock-51641597012?mod=mw_quote_news","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1199490797","content_text":"Who needs parody cryptocurrency when car stocks are this exciting? Ford Motor, General Motors, Tesla, and Rivian Automotive each had price swings of more than 10% during the first trading week of the year. This, after some heady gains for the group last year.Predicting performance from here won’t be easy. I recently spoke with one analyst who says Tesla stock (ticker: TSLA) is headed to $1,400, and another who says $67. You know what they say: Sometimes you have to agree to disagree by a factor of 20.Tesla made the first big move, jumping 13.5% on Monday after the company reported fourth-quarter deliveries of 308,600 vehicles, trouncing estimates and its own record. Next, Ford (F) gained 11.7% on Tuesday after it announced that it would raise production of its first electric pickup, the F-150 Lightning, to 150,000 units a year.By that point in the week, General Motors stock (GM) was already up 12% in anticipation of its Chevy Silverado electric pickup truck unveiling, planned for Wednesday at the Consumer Electronics Show. But on the day of the announcement, shares slipped. Maybe investors were disappointed in the delivery timing, or maybe it was because the broad market tanked on signs that interest rates could rise sooner than expected.What the Ford and Chevy pickups have in common is that they will target workers as well as suburban preeners in unblemished Carhartt jackets. Early versions will be priced around $40,000 and $100,000.The Chevy wins on electric specs—longer battery range and faster charging. But Ford wins on bringing its truck to market this spring. Chevy buyers will have to wait until spring 2023 for the cheaper truck and fall 2023 for the decked-out one. GM will also debut electric Chevy sport utility vehicles in 2023, including an Equinox that will start at $30,000.Pickup trucks could be the key to America’s electric-vehicle uptake. Last year, EVs hit an estimated 4% of total U.S. sales, up from 2%. But Europe and China are well ahead, with penetration rates in the low teens. Americans have so far had few electric choices for the types of vehicles they like to buy. Last year, the Ford F-150 led U.S. new-vehicle sales, as always. The only surprise was that the Ram 1500 pickup pulled ahead of the Chevy Silverado 1500 to be No. 2.An electric Ram will take until 2024, according to owner Stellantis (STLA), a roll-up of American, Italian, and French brands. Start-up Rivian (RIVN) says it will ship electric pickups this year, but that stock slid 11% this past Wednesday after early backer Amazon.com (AMZN) said it’s putting in an order with Ram for delivery trucks. Tesla’s Cybertruck was expected last year, but has been delayed.Pent-up vehicle demand, meanwhile, suggests that a boom is coming. Amid shortages last year, U.S. light-vehicle sales were an estimated 15.1 million units, versus closer to 17 million a year before the pandemic. Average transaction prices have soared 30% from prepandemic levels, and incentives as a percentage of prices are at record lows.This year, expect unit sales to rise only modestly, but by next year, when showrooms are full and pricing has eased, units could jump to 18 million, Credit Suisse says. EV penetration in the U.S. will double again this year to 8%, and top 50% by 2030, it adds.One risk for legacy car makers is that they will run to stand still—that they must ramp up EV units with low profit margins for now to offset coming losses in high-margin gasoline models.On the other hand, car makers could shift capacity from gasoline vehicles to electric ones ahead of customers’ willingness to make the switch. That could leave gas vehicles with high prices and profit margins, creating a long, lucrative “farewell tour,” as Morgan Stanley analyst Adam Jonas puts it.Valuations appear undemanding. Ford goes for 12 times projected earnings, despite doubling in price last year. GM sells for nine times.The bull case on Tesla is that it will do big things in both cars and adjacent markets. Philippe Houchois, who covers the stock for Jefferies, sees 35% upside from recent levels, to $1,400. Tesla lags behind legacy rivals on things like build quality and finish, but those are solvable problems, he says. It leads on software, batteries, and autonomy, which are durable advantages. He sees Tesla using software to extend the usefulness and profit potential of vehicles.Most versions of the Tesla bear case assume that the company will do well in cars, but not well enough to justify a market value above $1 trillion. For example, J.P. Morgan’s Ryan Brinkman calls his price target of $295 “not ungenerous,” even though it implies a 70% stock plunge, because it values Tesla slightly ahead of world leader Toyota Motor (TM), despite producing a tenth as many cars for now.Then there’s Gordon Johnson. He worked at large investment banks before starting GLJ Research, where he covers 20 stocks. He’s bullish on uranium stocks and bearish on cannabis, but all anyone wants to talk about, he says, is his $67 price target on Tesla. “I’ve gotten death threats,” he says. “Now I don’t even answer the phone when I have unknown calls.”In Johnson’s view, there’s no reason to assume Tesla will do well in adjacent businesses. “You could take McDonald’s and say they’re going to start selling Nikes and chairs and pianos and add those valuations,” he says. In cars, he calculates that the stock price implies a production ramp-up that no car maker could achieve. “Selling cars is not selling iPhones or shirts,” he says.If Tesla’s three-year stock gain of nearly 1,400% has shaken Johnson’s confidence, it doesn’t show. After walking me through his valuation model, he said he’s concerned that his price target might be too high.","news_type":1,"symbols_score_info":{"RIVN":0.9,"F":0.9,"GM":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":5554,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":832924651,"gmtCreate":1629563387073,"gmtModify":1631893463953,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"a","listText":"a","text":"a","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/832924651","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohunote.com/m/news/1151608193?lang=zh_CN&edition=full","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares 半导体 ETF 较近期高点下跌超过 6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要大。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares 半导体 ETF 较近期高点下跌超过 6%，而标准普尔 500 指数、纳斯达克综合指数和道琼斯工业平均指数的跌幅为 2% 或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股票值得买入？或者，这个历史上具有周期性的行业是否故技重施，陷入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有股票多年，而不是租用几天，那么该集团值得购买。主要原因： “这次不一样”。</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>这些无疑是投资中最可怕的词语之一。但芯片行业已经发生了很大的变化，现在确实不同了——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我会回顾一下这些。但首先，以下是该集团现在 “更安全 ”的三个主要原因--以及我在过去几天里与六位行业专家交谈过的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>“Impax Asset Management 的投资组合经理 David Winborne 说：”受产品周期的驱动，芯片行业的需求总是时好时坏。“<a href=\"https://laohu8.com/S/FBNC\">第一</a>电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长故事更可预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益 “数字化 ”，终端市场需求从各个角度都更加多样化。把远程办公服务想象成<a href=\"https://laohu8.com/S/ZM\">缩放</a>看好该集团的 Gabelli Funds 投资组合经理兼技术分析师 Hendi Susanto 指出，网上购物、云服务、电动汽车、5G 手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>“Motley Fool 芯片行业分析师 John Rotonti 说：”现代数字经济的任何方面都离不开半导体。“这意味着所有东西都有更多的筹码。长期需求是存在的”。</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他没开玩笑。威廉·布莱尔分析师格雷格·斯科拉罗预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着，你听到的大范围供应短缺 “可能要到明年年底的某个时候才能得到解决”。<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师 Vivek Arya。“这不仅是我们的观点，而且<a href=\"https://laohu8.com/S/AONE.U\">一</a>大多数大客户都证实了这一点。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2、玩家巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上下游，从设计到各类设备生产商再到制造，行业参与者已经整合成罗通蒂-评级 “赢得 ”的双头垄断或垄断。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，你有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻 (EUV) 等专业领域占据主导地位，例如 ASML。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好，赢得了他们的利基或双寡头地位。这使得投资者对它们感兴趣。Rotonti 表示，整合还意味着参与者在定价和产能方面的行为更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所改善</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力比历史上高得多。“温伯恩说：”在过去的几年里，芯片制造的经济性有了很大的改善。现金流或 EBITDA 利润率现在通常超过 30%，而十年前则在 20% 左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere &amp; Co. 的投资组合经理拉马尔·维莱尔 (Lamar Villere) 指出，尽管芯片股票的交易市盈率约为市盈率，但它们看起来很便宜，因为它们是更好的公司。“他们并没有以泡沫倍数进行交易”。</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>要买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近核实的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新管理层玩法</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管 Thrivent 高级股票研究分析师彼得·卡拉泽里斯 (Peter Karazeris) 有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司的业绩可能会因为新管理层而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳定的盈利能力。高通最近受到德克萨斯州恶劣天气等一次性问题的打击，导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">半导体</a>正在将手机以外的领域扩展到汽车、工业和物联网等新领域——联网设备领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris 还特别提到了 Nvidia， 由于其卓越的设计能力， Nvidia 从数据中心和游戏设备芯片需求中获得了持续提振。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当高通和英伟达等公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">概要</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool 的 Rotonti 解释说，他们基于软件的设计工具可以帮助芯片创新者为他们的芯片创建蓝图，他特别指出了这些名字。“他们不是世界上增长最快的公司，但他们的利润率很高”。他们也主宰了太空。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV游戏</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图应用到硅上，台积电和三星等公司转向了ASML。它的机器使用微小的光脉冲将芯片设计模板印在硅片上，这一过程称为极紫外线光刻。“罗通蒂说：”其他人还没有想出怎么做。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应这样做的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供过于求</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多，这样它就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne 表示，希望到 2025 年生产其使用的芯片的 70%，高于目前的 5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>结果是，政府为促进制造业提供了大量支持，因此会有更多支持。风险是未来某个时候供应过剩。这也可能会推动芯片设备的采购，导致未来的平静，这可能会损害设备制造商的销售和利润率趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair 的 Scolaro 指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>干扰信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人 (PMI) 指数在 4 月份达到峰值，然后连续三个月放缓。与此同时，芯片销售持续增长。Thrivent 跟踪该指标的 Karazeris 指出，通常两者遵循相同的趋势。他将这种差异归因于库存积累，而库存积累不如真正的终端市场需求可持续。因此，他认为这种背离是芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“卡拉泽里斯说：”这些通常是在周期的顶部而不是底部看到的东西。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但也有可能全球采购经理人指数的放缓更多的是芯片短缺的反映，而不是短缺并非真实存在的迹象（只是库存积压）。“Leuthold 经济学家兼策略师吉姆-保尔森（Jim Paulsen）说：”这种分歧并不一定意味着芯片订单会翻盘消亡。这意味着芯片制造业必须迎头赶上。</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布不得不减产是因为芯片短缺，而不是潜在需求不足。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及对大件商品被压抑的需求等因素，体面的经济增长是可持续的。如果他是对的，持续的经济实力将支撑对所有使用芯片的产品的需求，包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>","source":"lsy1603348471595","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>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</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\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-23 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares 半导体 ETF 较近期高点下跌超过 6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要大。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares 半导体 ETF 较近期高点下跌超过 6%，而标准普尔 500 指数、纳斯达克综合指数和道琼斯工业平均指数的跌幅为 2% 或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股票值得买入？或者，这个历史上具有周期性的行业是否故技重施，陷入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有股票多年，而不是租用几天，那么该集团值得购买。主要原因： “这次不一样”。</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>这些无疑是投资中最可怕的词语之一。但芯片行业已经发生了很大的变化，现在确实不同了——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我会回顾一下这些。但首先，以下是该集团现在 “更安全 ”的三个主要原因--以及我在过去几天里与六位行业专家交谈过的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>“Impax Asset Management 的投资组合经理 David Winborne 说：”受产品周期的驱动，芯片行业的需求总是时好时坏。“<a href=\"https://laohu8.com/S/FBNC\">第一</a>电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长故事更可预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益 “数字化 ”，终端市场需求从各个角度都更加多样化。把远程办公服务想象成<a href=\"https://laohu8.com/S/ZM\">缩放</a>看好该集团的 Gabelli Funds 投资组合经理兼技术分析师 Hendi Susanto 指出，网上购物、云服务、电动汽车、5G 手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>“Motley Fool 芯片行业分析师 John Rotonti 说：”现代数字经济的任何方面都离不开半导体。“这意味着所有东西都有更多的筹码。长期需求是存在的”。</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他没开玩笑。威廉·布莱尔分析师格雷格·斯科拉罗预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着，你听到的大范围供应短缺 “可能要到明年年底的某个时候才能得到解决”。<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师 Vivek Arya。“这不仅是我们的观点，而且<a href=\"https://laohu8.com/S/AONE.U\">一</a>大多数大客户都证实了这一点。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2、玩家巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上下游，从设计到各类设备生产商再到制造，行业参与者已经整合成罗通蒂-评级 “赢得 ”的双头垄断或垄断。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，你有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻 (EUV) 等专业领域占据主导地位，例如 ASML。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好，赢得了他们的利基或双寡头地位。这使得投资者对它们感兴趣。Rotonti 表示，整合还意味着参与者在定价和产能方面的行为更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所改善</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力比历史上高得多。“温伯恩说：”在过去的几年里，芯片制造的经济性有了很大的改善。现金流或 EBITDA 利润率现在通常超过 30%，而十年前则在 20% 左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere &amp; Co. 的投资组合经理拉马尔·维莱尔 (Lamar Villere) 指出，尽管芯片股票的交易市盈率约为市盈率，但它们看起来很便宜，因为它们是更好的公司。“他们并没有以泡沫倍数进行交易”。</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>要买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近核实的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新管理层玩法</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管 Thrivent 高级股票研究分析师彼得·卡拉泽里斯 (Peter Karazeris) 有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司的业绩可能会因为新管理层而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳定的盈利能力。高通最近受到德克萨斯州恶劣天气等一次性问题的打击，导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">半导体</a>正在将手机以外的领域扩展到汽车、工业和物联网等新领域——联网设备领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris 还特别提到了 Nvidia， 由于其卓越的设计能力， Nvidia 从数据中心和游戏设备芯片需求中获得了持续提振。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当高通和英伟达等公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">概要</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool 的 Rotonti 解释说，他们基于软件的设计工具可以帮助芯片创新者为他们的芯片创建蓝图，他特别指出了这些名字。“他们不是世界上增长最快的公司，但他们的利润率很高”。他们也主宰了太空。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV游戏</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图应用到硅上，台积电和三星等公司转向了ASML。它的机器使用微小的光脉冲将芯片设计模板印在硅片上，这一过程称为极紫外线光刻。“罗通蒂说：”其他人还没有想出怎么做。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应这样做的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供过于求</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多，这样它就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne 表示，希望到 2025 年生产其使用的芯片的 70%，高于目前的 5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>结果是，政府为促进制造业提供了大量支持，因此会有更多支持。风险是未来某个时候供应过剩。这也可能会推动芯片设备的采购，导致未来的平静，这可能会损害设备制造商的销售和利润率趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair 的 Scolaro 指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>干扰信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人 (PMI) 指数在 4 月份达到峰值，然后连续三个月放缓。与此同时，芯片销售持续增长。Thrivent 跟踪该指标的 Karazeris 指出，通常两者遵循相同的趋势。他将这种差异归因于库存积累，而库存积累不如真正的终端市场需求可持续。因此，他认为这种背离是芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“卡拉泽里斯说：”这些通常是在周期的顶部而不是底部看到的东西。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但也有可能全球采购经理人指数的放缓更多的是芯片短缺的反映，而不是短缺并非真实存在的迹象（只是库存积压）。“Leuthold 经济学家兼策略师吉姆-保尔森（Jim Paulsen）说：”这种分歧并不一定意味着芯片订单会翻盘消亡。这意味着芯片制造业必须迎头赶上。</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布不得不减产是因为芯片短缺，而不是潜在需求不足。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及对大件商品被压抑的需求等因素，体面的经济增长是可持续的。如果他是对的，持续的经济实力将支撑对所有使用芯片的产品的需求，包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">MarketWatch</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":{"SNPS":"新思科技","GOOGL":"谷歌A","SSNLF":"三星电子","NVDA":"英伟达","ASML":"阿斯麦","QCOM":"高通","ON":"安森美半导体","AMZN":"亚马逊","TSM":"台积电","SOXX":"iShares费城交易所半导体ETF","CDNS":"铿腾电子","AAPL":"苹果","GOOG":"谷歌"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including Ford cars.","news_type":1,"symbols_score_info":{"ASML":0.9,"GOOG":0.9,"QCOM":0.9,"SNPS":0.9,"AAPL":0.9,"NVDA":0.9,"ON":0.9,"SOXX":0.9,"CDNS":0.9,"GOOGL":0.9,"SSNLF":0.9,"AMZN":0.9,"TSM":0.9}},"isVote":1,"tweetType":1,"viewCount":701,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":870582426,"gmtCreate":1636634352764,"gmtModify":1636634353058,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"A","listText":"A","text":"A","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/870582426","repostId":"1171270648","repostType":4,"isVote":1,"tweetType":1,"viewCount":540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":881481030,"gmtCreate":1631376040620,"gmtModify":1631888558011,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"aaa","listText":"aaa","text":"aaa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/881481030","repostId":"1147045390","repostType":4,"repost":{"id":"1147045390","kind":"news","pubTimestamp":1631321547,"share":"https://www.laohunote.com/m/news/1147045390?lang=zh_CN&edition=full","pubTime":"2021-09-11 08:52","market":"us","language":"en","title":"Why Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147045390","media":"Barrons","summary":"Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple  to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30%","content":"<p>Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.</p><p><blockquote>周五的裁决要求苹果允许开发者为通过苹果应用商店下载的应用程序提供替代支付方式，这给其收入和利润带来了真实但有限的风险。</blockquote></p><p> In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.</p><p><blockquote>在堡垒之夜发行商 Epic Games 提起的一起案件中，美国地区法官 Yvonne Gonzalez Rogers 发布了一项永久禁令，要求苹果（股票代码：AAPL）允许开发者选择在其应用程序中包含替代支付方式的链接。苹果自己的支付系统从大型开发商那里抽取 30% 的佣金。</blockquote></p><p> Data from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.</p><p><blockquote>应用追踪机构 SensorTower 的数据显示，2020 年，苹果从 App Store 获得的总收入为 723 亿美元，费用估计为 217 亿美元，约占苹果总收入的 7%。其中包括美国 210 亿美元的支出，产生约 63 亿美元的费用，约占年化收入的 2%。</blockquote></p><p> SensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.</p><p><blockquote>SensorTower 估计，2020 年 App Store 的手机游戏支出为 476 亿美元，产生的费用为 143 亿美元，略低于苹果总收入的 5%。</blockquote></p><p> Gene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.</p><p><blockquote>风险投资公司 Loup Capital 的董事总经理、长期跟踪苹果的前卖方分析师吉恩-蒙斯特（Gene Munster）估计，App Store 约占公司利润的 14%。但他认为周五的裁决风险有限。</blockquote></p><p> Munster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.</p><p><blockquote>明斯特认为大多数应用程序开发者将留在苹果系统内。他认为总收入 “最多 ”会受到 2% 的阻力，利润可能会受到 4% 的影响。</blockquote></p><p> “After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”</p><p><blockquote>“他说：”在这些变化的第一年之后，app store 的增长率将恢复正常。“底线是，这最多只是一年的逆风，并不会改变苹果未来 5 年的发展方向。”</blockquote></p><p> Evercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.</p><p><blockquote>Evercore ISI 分析师 Amit Daryanani 在一份研究报告中表示，这一裁决对苹果来说是一个挫折，但最终的影响可能是可控的，因为苹果有其他方式从商店创收，包括其不断增长的店内广告业务。他还指出，苹果实际上在案件中的一个更大问题上取得了胜利： 法官驳回了 Epic 关于 App Store 非法垄断的说法。Daryanani 估计苹果每股收益面临的风险为 2% 至 4%。</blockquote></p><p> Wedbush analyst Dan Ives told&nbsp;<i>Barron’s</i>&nbsp;he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.</p><p><blockquote>韦德布什分析师丹·艾夫斯告诉<i>巴伦</i>他认为最坏的情况是收入受到 3% 到 4% 的影响，并将这种风险描述为 “四舍五入误差”。虽然艾夫斯表示，华尔街原本预计苹果会全面获胜，但这一混合决定消除了该股的悬而未决的问题，投资者可能会放心地搁置这个问题。</blockquote></p><p> The ruling is more a positive for companies like&nbsp;Spotify Technology&nbsp;and&nbsp;Match Group&nbsp;than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97&nbsp;on&nbsp;Friday, while Spotify and March gained 0.7% and&nbsp;4.2%, respectively.</p><p><blockquote>他说，这一裁决对 Spotify Technology 和 Match Group 等公司来说是积极的，而不是对苹果的负面影响。苹果股价周五下跌 3.3%，至 148.97 美元，而 Spotify 和 March 分别上涨 0.7% 和 4.2%。</blockquote></p><p></p>","source":"lsy1601382232898","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>Why Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</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\">\nWhy Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-11 08:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.</p><p><blockquote>周五的裁决要求苹果允许开发者为通过苹果应用商店下载的应用程序提供替代支付方式，这给其收入和利润带来了真实但有限的风险。</blockquote></p><p> In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.</p><p><blockquote>在堡垒之夜发行商 Epic Games 提起的一起案件中，美国地区法官 Yvonne Gonzalez Rogers 发布了一项永久禁令，要求苹果（股票代码：AAPL）允许开发者选择在其应用程序中包含替代支付方式的链接。苹果自己的支付系统从大型开发商那里抽取 30% 的佣金。</blockquote></p><p> Data from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.</p><p><blockquote>应用追踪机构 SensorTower 的数据显示，2020 年，苹果从 App Store 获得的总收入为 723 亿美元，费用估计为 217 亿美元，约占苹果总收入的 7%。其中包括美国 210 亿美元的支出，产生约 63 亿美元的费用，约占年化收入的 2%。</blockquote></p><p> SensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.</p><p><blockquote>SensorTower 估计，2020 年 App Store 的手机游戏支出为 476 亿美元，产生的费用为 143 亿美元，略低于苹果总收入的 5%。</blockquote></p><p> Gene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.</p><p><blockquote>风险投资公司 Loup Capital 的董事总经理、长期跟踪苹果的前卖方分析师吉恩-蒙斯特（Gene Munster）估计，App Store 约占公司利润的 14%。但他认为周五的裁决风险有限。</blockquote></p><p> Munster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.</p><p><blockquote>明斯特认为大多数应用程序开发者将留在苹果系统内。他认为总收入 “最多 ”会受到 2% 的阻力，利润可能会受到 4% 的影响。</blockquote></p><p> “After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”</p><p><blockquote>“他说：”在这些变化的第一年之后，app store 的增长率将恢复正常。“底线是，这最多只是一年的逆风，并不会改变苹果未来 5 年的发展方向。”</blockquote></p><p> Evercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.</p><p><blockquote>Evercore ISI 分析师 Amit Daryanani 在一份研究报告中表示，这一裁决对苹果来说是一个挫折，但最终的影响可能是可控的，因为苹果有其他方式从商店创收，包括其不断增长的店内广告业务。他还指出，苹果实际上在案件中的一个更大问题上取得了胜利： 法官驳回了 Epic 关于 App Store 非法垄断的说法。Daryanani 估计苹果每股收益面临的风险为 2% 至 4%。</blockquote></p><p> Wedbush analyst Dan Ives told&nbsp;<i>Barron’s</i>&nbsp;he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.</p><p><blockquote>韦德布什分析师丹·艾夫斯告诉<i>巴伦</i>他认为最坏的情况是收入受到 3% 到 4% 的影响，并将这种风险描述为 “四舍五入误差”。虽然艾夫斯表示，华尔街原本预计苹果会全面获胜，但这一混合决定消除了该股的悬而未决的问题，投资者可能会放心地搁置这个问题。</blockquote></p><p> The ruling is more a positive for companies like&nbsp;Spotify Technology&nbsp;and&nbsp;Match Group&nbsp;than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97&nbsp;on&nbsp;Friday, while Spotify and March gained 0.7% and&nbsp;4.2%, respectively.</p><p><blockquote>他说，这一裁决对 Spotify Technology 和 Match Group 等公司来说是积极的，而不是对苹果的负面影响。苹果股价周五下跌 3.3%，至 148.97 美元，而 Spotify 和 March 分别上涨 0.7% 和 4.2%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/apple-app-store-epic-51631304007?mod=hp_LEAD_1_B_2\">Barrons</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://www.barrons.com/articles/apple-app-store-epic-51631304007?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147045390","content_text":"Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.\nIn a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.\nData from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.\nSensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.\nGene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.\nMunster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.\n“After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”\nEvercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.\nWedbush analyst Dan Ives told Barron’s he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.\nThe ruling is more a positive for companies like Spotify Technology and Match Group than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97 on Friday, while Spotify and March gained 0.7% and 4.2%, respectively.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":711,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115670412,"gmtCreate":1622991967636,"gmtModify":1634096366453,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"can a kind soul advise how to LIKE&nbsp;&nbsp;a reply ?&nbsp;","listText":"can a kind soul advise how to LIKE&nbsp;&nbsp;a reply ?&nbsp;","text":"can a kind soul advise how to LIKE a reply ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/115670412","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohunote.com/m/news/1106312903?lang=zh_CN&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</li><li>支付平台 Marqeta 计划以 124 亿美元的市值筹集 10 亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>市场</b>(MQ) 计划以 124 亿美元的市值筹集 10 亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta 发展迅速，其客户中包括 Affirm (AFRM) 和 DoorDash (DASH) 等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中国在线招聘平台<b>看准</b>(BZ) 计划以 82 亿美元的市值筹集 8.64 亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，根据MAUs，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>LifeStance健康</b>(LFST) 计划以 61 亿美元的市值筹集 6.4 亿美元。LifeStance表示，它已经建立了美国最大的门诊心理健康平台之一，截至2021年3月31日，在27个州的73个MSA雇佣了3300多名持牌心理健康临床医生。尽管息税前利润在2021年第一季度变为负值，但该公司仍表现出增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>星期一网</b>(MNDY) 计划以 68 亿美元的市值筹集 4.9 亿美元。monday.com允许组织轻松构建适合其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce 和 Zoom 计划同时投资 1.5 亿美元进行私募。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>口袋</b>（任务）计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利且增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA) 计划以 21 亿美元的市值筹集 2.5 亿美元。该公司的 Zeta 营销平台利用身份数据，通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta 盈利，为 1,000 多名客户提供服务，到 2020 年将提供大约 5 亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>在线奢侈品市场<b>1stDibs</b>(DIBS) 计划以 7.73 亿美元的市值筹集 1.12 亿美元。1stDibs连接古董、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020 年，该市场在过去一年中有超过 58,000 名买家进行了购买，平均每年总购买金额超过 5,500 美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME) 计划以 19 亿美元的市值筹集 4300 万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将对 6 家公司进行街头调查，多达 11 家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2021年6月3日，文艺复兴IPO指数年初至今下跌6.0%，而标普500上涨11.6%。Renaissance Capital 的 IPO ETF（纽约证券交易所股票代码：IPO）追踪该指数，持有量最大的 ETF 包括Zoom Video (ZM) 和优步 (UBER)。Renaissance International IPO 指数今年迄今下跌 1.1%，而 ACWX 指数上涨 10.5%。Renaissance Capital 的国际 IPO ETF（纽约证券交易所股票代码：IPOS）追踪该指数，持有的 ETF 包括 Nexi 和 EQT Partners。</blockquote></p><p></p>","source":"lsy1603787993745","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. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</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. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>美国 IPO 前一周：数字支付、心理健康服务等多元化 8 IPO</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-06-05 09:16</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>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</li><li>支付平台 Marqeta 计划以 124 亿美元的市值筹集 10 亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八次IPO计划筹集37亿美元，涉及数字支付、心理健康服务等。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>市场</b>(MQ) 计划以 124 亿美元的市值筹集 10 亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta 发展迅速，其客户中包括 Affirm (AFRM) 和 DoorDash (DASH) 等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中国在线招聘平台<b>看准</b>(BZ) 计划以 82 亿美元的市值筹集 8.64 亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，根据MAUs，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>LifeStance健康</b>(LFST) 计划以 61 亿美元的市值筹集 6.4 亿美元。LifeStance表示，它已经建立了美国最大的门诊心理健康平台之一，截至2021年3月31日，在27个州的73个MSA雇佣了3300多名持牌心理健康临床医生。尽管息税前利润在2021年第一季度变为负值，但该公司仍表现出增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>星期一网</b>(MNDY) 计划以 68 亿美元的市值筹集 4.9 亿美元。monday.com允许组织轻松构建适合其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce 和 Zoom 计划同时投资 1.5 亿美元进行私募。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>口袋</b>（任务）计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利且增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA) 计划以 21 亿美元的市值筹集 2.5 亿美元。该公司的 Zeta 营销平台利用身份数据，通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta 盈利，为 1,000 多名客户提供服务，到 2020 年将提供大约 5 亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>在线奢侈品市场<b>1stDibs</b>(DIBS) 计划以 7.73 亿美元的市值筹集 1.12 亿美元。1stDibs连接古董、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020 年，该市场在过去一年中有超过 58,000 名买家进行了购买，平均每年总购买金额超过 5,500 美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME) 计划以 19 亿美元的市值筹集 4300 万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将对 6 家公司进行街头调查，多达 11 家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2021年6月3日，文艺复兴IPO指数年初至今下跌6.0%，而标普500上涨11.6%。Renaissance Capital 的 IPO ETF（纽约证券交易所股票代码：IPO）追踪该指数，持有量最大的 ETF 包括Zoom Video (ZM) 和优步 (UBER)。Renaissance International IPO 指数今年迄今下跌 1.1%，而 ACWX 指数上涨 10.5%。Renaissance Capital 的国际 IPO ETF（纽约证券交易所股票代码：IPOS）追踪该指数，持有的 ETF 包括 Nexi 和 EQT Partners。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Renaissance Capital</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":{"DIBS":"1stdibs.com Inc.","ZETA":"Zeta Global Holdings Corp.","TASK":"TaskUs Inc.","ZME":"掌门教育","LFST":"LifeStance Health Group, Inc.","MQ":"Marqeta, Inc.",".IXIC":"NASDAQ Composite","BZ":"BOSS直聘",".SPX":"S&P 500 Index","MNDY":"Monday.com Ltd.",".DJI":"道琼斯"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{"DIBS":0.9,"ZME":0.9,".DJI":0.9,"MQ":0.9,".IXIC":0.9,"TASK":0.9,"LFST":0.9,"ZETA":0.9,"BZ":0.9,".SPX":0.9,"MNDY":0.9}},"isVote":1,"tweetType":1,"viewCount":530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":696700478,"gmtCreate":1640759864337,"gmtModify":1640759864513,"author":{"id":"3560092322694803","authorId":"3560092322694803","name":"dahae","avatar":"https://static.tigerbbs.com/137beae1f6048901843924ba46796740","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560092322694803","idStr":"3560092322694803"},"themes":[],"title":"","htmlText":"Qqq","listText":"Qqq","text":"Qqq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/696700478","repostId":"1186633322","repostType":4,"isVote":1,"tweetType":1,"viewCount":1192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}