Mokku的个人主页 - 老虎社区

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2021-10-22

$AMD(AMD)$又到攻顶的时候了[财迷]

2021-08-31

Ahh do some estimation before buy in. Or when you're confused.

@星辰妹子:投资不是以股票的「价格」来决定，而是以股票的「价值」来决定

2021-08-28

$SMIC(00981)$是你吗？

@爱上趋势股:这次的腾讯回购不一样：不能盲目乐观！

2021-08-22

Seems good!

抱歉，原内容已删除

2021-08-19

Any insights on this? What the government planning to do?

Some China concepts stocks tumbled in morning trading<blockquote>部分中概股早盘暴跌</blockquote>

2021-08-14

值得收藏[财迷]

@投资小达人:普通投资者如何理性的进行股票投资？

2021-08-13

$NIO Inc.(NIO)$蛮强的嘛那么快就回弹上来了

2021-08-12

let's go Nio!

Nio Stock: EV Maker's Second-Quarter Loss Narrows as Revenue Rises<blockquote>蔚来股票：随着收入增长，电动汽车制造商第二季度亏损收窄</blockquote>

2021-08-02

Dnt trick retailers to sell valuable stocks.

Apple: Take Your Profits Now, Come Back Later<blockquote>苹果：现在获利了结，稍后再回来</blockquote>

2021-07-30

$AMD(AMD)$守得云开[捂脸]

2021-07-28

One of the stock you should have.

@价值投资为王:AMD二季报：崛起的AMD开始咄咄逼人了！

2021-07-18

Good chance to buy more $Taiwan Semiconductor Manufacturing(TSM)$

2021-05-10

Is it time to fire another bullet in favourite Tech/Semicon stock?$Taiwan Semiconductor Manufacturing(TSM)

2021-05-04

Well.. not bad news at all. Just another journey in life.

抱歉，原内容已删除

2021-04-30

$Apple(AAPL)$One Apple a Day...

2021-02-09

$Dada Nexus Limited(DADA)$ 每次拉高当天就会放卖量了，各位小心。我去赚其他股比较容易哈哈。

2020-12-22

$Apple(AAPL)$head to head $Tesla Motors(TSLA)$

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Pri","images":[{"img":"https://static.tigerbbs.com/498fd13cdd4b97bd02e80f9e1ea9a6fd","width":"1080","height":"608"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813178684","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2814,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813003876,"gmtCreate":1630111522995,"gmtModify":1704956064391,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/00981\">$SMIC(00981)$</a>是你吗？&nbsp;","listText":"<a href=\"https://laohu8.com/S/00981\">$SMIC(00981)$</a>是你吗？&nbsp;","text":"$SMIC(00981)$是你吗？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813003876","repostId":"837381708","repostType":1,"repost":{"id":837381708,"gmtCreate":1629857334600,"gmtModify":1731386565426,"author":{"id":"3502860692623653","authorId":"3502860692623653","name":"爱上趋势股","avatar":"https://static.tigerbbs.com/17f4521614b0cae62aff9fa7fa80fa77","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3502860692623653","idStr":"3502860692623653"},"themes":[],"title":"这次的腾讯回购不一样：不能盲目乐观！","htmlText":"腾讯这家公司有一个非常牛的数据，就是历史上，几乎每次大规模回购，股价都能在 1 个月内起稳，而后创出历史新高： 与此同时，腾讯的估值也创下了历史新低： 所以，很多人狂欢：回购 + 不到 20PE 的腾讯，就是送钱！是时候满仓抄底了！ 人在盲目乐观的时候，就容易干出一些不理性的事情，所以我需要给大家泼盆冷水，冷静一下。 一、先说回购 这次回购只有 7696 万港币，这点钱还没有腾讯半天赚得多，所以意义大于实际。后面仍要继续听其言观其行。 二、再说估值 在 8 月初，证券时报发表了一篇文章，不是精神鸦片那个，而是： 在税收上游戏行业应该向传统行业适度看齐 内容指出： 游戏产业现在已发展壮大，政府就没有必要再继续给予产业扶持，相反的， 游戏企业应承担更多的社会责任，在税收上回馈社会。对此，游戏产业应该做好心理准备。 不仅如此，近日又有媒体传闻： 某互联网企业向投资者透露其部分业务将不再被视为重点软件企业，从而不再享受 10% 的税收优惠政策。 税收优惠政策调整或将对所有互联网企业产生影响。 可能大家不知道这个事情有多严重。 根据国内现有税收政策，法定企业所得税税率为 25%，但经认定为高新技术的享受 15% 的优惠税率；而被积极引导发展的互联网企业可以享受 10% 的优惠税率，像腾讯和阿里这样的大公司，甚至可以做到 8% 的税率。 比如，2020 年： 华为利润 646 亿，纳税 1010 亿； 腾讯利润 1598 亿，纳税仅 200 多亿； 阿里利润 1493 亿，纳税仅 366 亿。 这就是为什么腾讯阿里的利润比华为多近 1000 亿，纳税却只有华为的 1/4 的原因之一。但现在风向变化，腾讯和阿里如果被排除在优惠税率之外，税率要达到 15%，甚至 20% 以上，总之苦日子要来了！ 这对于互联网企业，是一笔不小的支出，从大方向来看，因为产业转型需要，国家重点扶持的是硬件和","listText":"腾讯这家公司有一个非常牛的数据，就是历史上，几乎每次大规模回购，股价都能在 1 个月内起稳，而后创出历史新高： 与此同时，腾讯的估值也创下了历史新低： 所以，很多人狂欢：回购 + 不到 20PE 的腾讯，就是送钱！是时候满仓抄底了！ 人在盲目乐观的时候，就容易干出一些不理性的事情，所以我需要给大家泼盆冷水，冷静一下。 一、先说回购 这次回购只有 7696 万港币，这点钱还没有腾讯半天赚得多，所以意义大于实际。后面仍要继续听其言观其行。 二、再说估值 在 8 月初，证券时报发表了一篇文章，不是精神鸦片那个，而是： 在税收上游戏行业应该向传统行业适度看齐 内容指出： 游戏产业现在已发展壮大，政府就没有必要再继续给予产业扶持，相反的， 游戏企业应承担更多的社会责任，在税收上回馈社会。对此，游戏产业应该做好心理准备。 不仅如此，近日又有媒体传闻： 某互联网企业向投资者透露其部分业务将不再被视为重点软件企业，从而不再享受 10% 的税收优惠政策。 税收优惠政策调整或将对所有互联网企业产生影响。 可能大家不知道这个事情有多严重。 根据国内现有税收政策，法定企业所得税税率为 25%，但经认定为高新技术的享受 15% 的优惠税率；而被积极引导发展的互联网企业可以享受 10% 的优惠税率，像腾讯和阿里这样的大公司，甚至可以做到 8% 的税率。 比如，2020 年： 华为利润 646 亿，纳税 1010 亿； 腾讯利润 1598 亿，纳税仅 200 多亿； 阿里利润 1493 亿，纳税仅 366 亿。 这就是为什么腾讯阿里的利润比华为多近 1000 亿，纳税却只有华为的 1/4 的原因之一。但现在风向变化，腾讯和阿里如果被排除在优惠税率之外，税率要达到 15%，甚至 20% 以上，总之苦日子要来了！ 这对于互联网企业，是一笔不小的支出，从大方向来看，因为产业转型需要，国家重点扶持的是硬件和","text":"腾讯这家公司有一个非常牛的数据，就是历史上，几乎每次大规模回购，股价都能在 1 个月内起稳，而后创出历史新高： 与此同时，腾讯的估值也创下了历史新低： 所以，很多人狂欢：回购 + 不到 20PE 的腾讯，就是送钱！是时候满仓抄底了！ 人在盲目乐观的时候，就容易干出一些不理性的事情，所以我需要给大家泼盆冷水，冷静一下。 一、先说回购 这次回购只有 7696 万港币，这点钱还没有腾讯半天赚得多，所以意义大于实际。后面仍要继续听其言观其行。 二、再说估值 在 8 月初，证券时报发表了一篇文章，不是精神鸦片那个，而是： 在税收上游戏行业应该向传统行业适度看齐 内容指出： 游戏产业现在已发展壮大，政府就没有必要再继续给予产业扶持，相反的， 游戏企业应承担更多的社会责任，在税收上回馈社会。对此，游戏产业应该做好心理准备。 不仅如此，近日又有媒体传闻： 某互联网企业向投资者透露其部分业务将不再被视为重点软件企业，从而不再享受 10% 的税收优惠政策。 税收优惠政策调整或将对所有互联网企业产生影响。 可能大家不知道这个事情有多严重。 根据国内现有税收政策，法定企业所得税税率为 25%，但经认定为高新技术的享受 15% 的优惠税率；而被积极引导发展的互联网企业可以享受 10% 的优惠税率，像腾讯和阿里这样的大公司，甚至可以做到 8% 的税率。 比如，2020 年： 华为利润 646 亿，纳税 1010 亿； 腾讯利润 1598 亿，纳税仅 200 多亿； 阿里利润 1493 亿，纳税仅 366 亿。 这就是为什么腾讯阿里的利润比华为多近 1000 亿，纳税却只有华为的 1/4 的原因之一。但现在风向变化，腾讯和阿里如果被排除在优惠税率之外，税率要达到 15%，甚至 20% 以上，总之苦日子要来了！ 这对于互联网企业，是一笔不小的支出，从大方向来看，因为产业转型需要，国家重点扶持的是硬件和","images":[{"img":"https://static.tigerbbs.com/291deabce95b9ead027cc6f6db654a36","width":"644","height":"211"},{"img":"https://static.tigerbbs.com/6eae949f67842bd4ada19db2518ed5d4","width":"952","height":"515"},{"img":"https://static.tigerbbs.com/b0d724ac39730ee2ddb1d6323d8c508d","width":"1041","height":"295"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/837381708","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":6,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1944,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":832144001,"gmtCreate":1629601401303,"gmtModify":1631891074126,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Seems good!","listText":"Seems good!","text":"Seems good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/832144001","repostId":"2161745814","repostType":4,"isVote":1,"tweetType":1,"viewCount":1545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838187614,"gmtCreate":1629381097938,"gmtModify":1631891074129,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Any insights on this? What the government planning to do?","listText":"Any insights on this? What the government planning to do?","text":"Any insights on this? What the government planning to do?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838187614","repostId":"1127010631","repostType":4,"repost":{"id":"1127010631","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":1629380357,"share":"https://www.laohu8.com/m/news/1127010631?lang=zh_CN&edition=full","pubTime":"2021-08-19 21:39","market":"us","language":"en","title":"Some China concepts stocks tumbled in morning trading<blockquote>部分中概股早盘暴跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127010631","media":"Tiger Newspress","summary":"(Aug 19) Some China concepts stocks tumbled in morning trading. \nChinese technology stocks sold off,","content":"<p>(Aug 19)&nbsp;Some China concepts stocks tumbled in morning trading.&nbsp;</p><p><blockquote>（8月19日）部分中概股早盘暴跌。</blockquote></p><p> Chinese technology stocks sold off, led by some of the country’s Internet giants, after two government ministries said they were likely to impose additional regulations on the sector.</p><p><blockquote>在两个政府部门表示可能对该行业实施额外监管后，中国科技股遭到抛售，其中一些互联网巨头领跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4310f534d8b053edff53a4c9e0acd6f\" tg-width=\"275\" tg-height=\"766\" referrerpolicy=\"no-referrer\"></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>Some China concepts stocks tumbled in morning 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smaller\">2021-08-19 21:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug 19)&nbsp;Some China concepts stocks tumbled in morning trading.&nbsp;</p><p><blockquote>（8月19日）部分中概股早盘暴跌。</blockquote></p><p> Chinese technology stocks sold off, led by some of the country’s Internet giants, after two government ministries said they were likely to impose additional regulations on the sector.</p><p><blockquote>在两个政府部门表示可能对该行业实施额外监管后，中国科技股遭到抛售，其中一些互联网巨头领跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4310f534d8b053edff53a4c9e0acd6f\" tg-width=\"275\" tg-height=\"766\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127010631","content_text":"(Aug 19) Some China concepts stocks tumbled in morning trading. \nChinese technology stocks sold off, led by some of the country’s Internet giants, after two government ministries said they were likely to impose additional regulations on the sector.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897222153,"gmtCreate":1628926596772,"gmtModify":1631891074132,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"值得收藏[财迷]&nbsp;","listText":"值得收藏[财迷]&nbsp;","text":"值得收藏[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897222153","repostId":"897827664","repostType":1,"repost":{"id":897827664,"gmtCreate":1628907157258,"gmtModify":1629343569744,"author":{"id":"3444504177139447","authorId":"3444504177139447","name":"投资小达人","avatar":"https://static.tigerbbs.com/cace575a7391eddd10a8a0c6537aadf4","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3444504177139447","idStr":"3444504177139447"},"themes":[],"title":"普通投资者如何理性的进行股票投资？","htmlText":"投资者必看：股市有风险，投资需谨慎，更需要学习！本文仅代笔个人观点，不构成任何投资建议！切记：不创业，必投资！投资小达人陪着大家一起慢慢变富，今天投资小达人和大家一起聊聊投资者如何理性的进行股票投资。炒股好心态等于理性 + 学习加 + 自我认知 + 加坚信。炒股赚钱等于对企业长期的深度了解，将对资金的短期走势判断家对人性弱点的控制。将对自身心态的修炼，前面三个因素都是可以通过时间努力实战来累积的，唯独心态的修炼是很多投资者一辈子无法跨越的坎，我一直认为投资股票的天赋不在技术不在分析而在心态。第一个有几年就足够把所有的知识点都学会，但是心态的修炼却是一辈子的事情，投资者最终能不能在股市赚钱，能不能通过股市实现复利，关键还是自己的心态。很多事情都是大道至简，都是看山是山看山不是山，最终山还是山的过程，学到最后你会发现你赚的钱5% ，来源于技术和分析，95%的钱来源于自己的心态。可以不亏的本，可以赚得的钱，为什么亏了？为什么没有赚到？是不是心态不稳了，是不是心态崩了，是不是贪婪了，是不是恐惧了，这些都是投资的核心问题。我们来详细聊一聊心态的修炼一，克服贪婪和恐惧，贪婪和恐惧都来源于人性的弱点，我们总是会在股市忘记风险，涨了1%想涨2% ，涨了5%想涨10%，永远没有满足，都将连续赚钱，几个月后就可以财务自由，一年成为首富，贪婪不仅仅来源于人性的弱点，还来源于无知，但凡对投资有点了解的投资者都知道，4%的年化收益是一个标杆。这是年化不是一天的收益，只要冷静的思考就会知道当你在短期获利的时候，也获得了风险。任何得到的背后都一定赋予了失去。只是你还没来得及察觉，很多股民并不是没有在股市赚钱，只是想赚更多，最终收益没有得到，然后本金还亏了，这是大部分投资者亏钱的原因。很少有投资者从未在股市赚钱，大部分都是赚钱了，没卖而亏钱的，这就是贪婪的副作用，我们要克服贪婪心理的前提就是一定要冷静地告","listText":"投资者必看：股市有风险，投资需谨慎，更需要学习！本文仅代笔个人观点，不构成任何投资建议！切记：不创业，必投资！投资小达人陪着大家一起慢慢变富，今天投资小达人和大家一起聊聊投资者如何理性的进行股票投资。炒股好心态等于理性 + 学习加 + 自我认知 + 加坚信。炒股赚钱等于对企业长期的深度了解，将对资金的短期走势判断家对人性弱点的控制。将对自身心态的修炼，前面三个因素都是可以通过时间努力实战来累积的，唯独心态的修炼是很多投资者一辈子无法跨越的坎，我一直认为投资股票的天赋不在技术不在分析而在心态。第一个有几年就足够把所有的知识点都学会，但是心态的修炼却是一辈子的事情，投资者最终能不能在股市赚钱，能不能通过股市实现复利，关键还是自己的心态。很多事情都是大道至简，都是看山是山看山不是山，最终山还是山的过程，学到最后你会发现你赚的钱5% ，来源于技术和分析，95%的钱来源于自己的心态。可以不亏的本，可以赚得的钱，为什么亏了？为什么没有赚到？是不是心态不稳了，是不是心态崩了，是不是贪婪了，是不是恐惧了，这些都是投资的核心问题。我们来详细聊一聊心态的修炼一，克服贪婪和恐惧，贪婪和恐惧都来源于人性的弱点，我们总是会在股市忘记风险，涨了1%想涨2% ，涨了5%想涨10%，永远没有满足，都将连续赚钱，几个月后就可以财务自由，一年成为首富，贪婪不仅仅来源于人性的弱点，还来源于无知，但凡对投资有点了解的投资者都知道，4%的年化收益是一个标杆。这是年化不是一天的收益，只要冷静的思考就会知道当你在短期获利的时候，也获得了风险。任何得到的背后都一定赋予了失去。只是你还没来得及察觉，很多股民并不是没有在股市赚钱，只是想赚更多，最终收益没有得到，然后本金还亏了，这是大部分投资者亏钱的原因。很少有投资者从未在股市赚钱，大部分都是赚钱了，没卖而亏钱的，这就是贪婪的副作用，我们要克服贪婪心理的前提就是一定要冷静地告","text":"投资者必看：股市有风险，投资需谨慎，更需要学习！本文仅代笔个人观点，不构成任何投资建议！切记：不创业，必投资！投资小达人陪着大家一起慢慢变富，今天投资小达人和大家一起聊聊投资者如何理性的进行股票投资。炒股好心态等于理性 + 学习加 + 自我认知 + 加坚信。炒股赚钱等于对企业长期的深度了解，将对资金的短期走势判断家对人性弱点的控制。将对自身心态的修炼，前面三个因素都是可以通过时间努力实战来累积的，唯独心态的修炼是很多投资者一辈子无法跨越的坎，我一直认为投资股票的天赋不在技术不在分析而在心态。第一个有几年就足够把所有的知识点都学会，但是心态的修炼却是一辈子的事情，投资者最终能不能在股市赚钱，能不能通过股市实现复利，关键还是自己的心态。很多事情都是大道至简，都是看山是山看山不是山，最终山还是山的过程，学到最后你会发现你赚的钱5% ，来源于技术和分析，95%的钱来源于自己的心态。可以不亏的本，可以赚得的钱，为什么亏了？为什么没有赚到？是不是心态不稳了，是不是心态崩了，是不是贪婪了，是不是恐惧了，这些都是投资的核心问题。我们来详细聊一聊心态的修炼一，克服贪婪和恐惧，贪婪和恐惧都来源于人性的弱点，我们总是会在股市忘记风险，涨了1%想涨2% ，涨了5%想涨10%，永远没有满足，都将连续赚钱，几个月后就可以财务自由，一年成为首富，贪婪不仅仅来源于人性的弱点，还来源于无知，但凡对投资有点了解的投资者都知道，4%的年化收益是一个标杆。这是年化不是一天的收益，只要冷静的思考就会知道当你在短期获利的时候，也获得了风险。任何得到的背后都一定赋予了失去。只是你还没来得及察觉，很多股民并不是没有在股市赚钱，只是想赚更多，最终收益没有得到，然后本金还亏了，这是大部分投资者亏钱的原因。很少有投资者从未在股市赚钱，大部分都是赚钱了，没卖而亏钱的，这就是贪婪的副作用，我们要克服贪婪心理的前提就是一定要冷静地告","images":[{"img":"https://static.tigerbbs.com/9cc45eb3d9914bea25c0b6a0450fa33b"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897827664","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":894925147,"gmtCreate":1628784238489,"gmtModify":1631891074135,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>蛮强的嘛 那么快就回弹上来了","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>蛮强的嘛 那么快就回弹上来了","text":"$NIO Inc.(NIO)$蛮强的嘛 那么快就回弹上来了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894925147","isVote":1,"tweetType":1,"viewCount":1545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":895327298,"gmtCreate":1628725677314,"gmtModify":1631891074145,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"let's go Nio!","listText":"let's go Nio!","text":"let's go Nio!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/895327298","repostId":"1106699544","repostType":4,"repost":{"id":"1106699544","kind":"news","pubTimestamp":1628723648,"share":"https://www.laohu8.com/m/news/1106699544?lang=zh_CN&edition=full","pubTime":"2021-08-12 07:14","market":"us","language":"en","title":"Nio Stock: EV Maker's Second-Quarter Loss Narrows as Revenue Rises<blockquote>蔚来股票：随着收入增长，电动汽车制造商第二季度亏损收窄</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106699544","media":"The Street","summary":"Nio beats Wall Street's expectations as second-quarter vehicle sales surge 127%.Nio  -Get Report posted better-than-expected second-quarter earnings Wednesday as the Chinese electric vehicle company reported a jump in revenue and raised its guidance.Shares of the Shanghai company were essentially flat at $43.99 in after-hours trading.Nio reported a net loss of 7 cents a share. The adjusted loss coming to 3 cents a share. Analysts surveyed by FactSet were calling for a loss of 9 cents a share.Rev","content":"<p>  Nio beats Wall Street's expectations as second-quarter vehicle sales surge 127%.  Nio&nbsp;(<b>NIO</b>) -Get Report&nbsp;posted better-than-expected second-quarter earnings Wednesday as&nbsp;the Chinese electric vehicle company reported a jump in revenue and raised its guidance.</p><p><blockquote>蔚来第二季度汽车销量飙升127%，超出华尔街预期。蔚来(<b>蔚来</b>)-Get Report周三公布了好于预期的第二季度收益，这家中国电动汽车公司报告收入大幅增长并上调了指引。</blockquote></p><p> Shares of the Shanghai company were essentially flat at $43.99 in after-hours trading.<img src=\"https://static.tigerbbs.com/a746dc007dc46d29bf188a45bbc86aec\" tg-width=\"708\" tg-height=\"524\" referrerpolicy=\"no-referrer\">Nio reported a net loss of&nbsp;7 cents a share. The adjusted loss coming to 3 cents a share. Analysts surveyed by FactSet were calling for a loss of 9 cents a share.</p><p><blockquote>这家上海公司的股价在盘后交易中基本持平于43.99美元。蔚来报告每股净亏损7美分。调整后每股亏损为3美分。FactSet调查的分析师预计每股亏损9美分。</blockquote></p><p> Revenue totaled $1.31 billion, up 127.2% from a year ago. The FactSet consensus called for revenue of $1.30 billion.<img src=\"https://static.tigerbbs.com/63e109b5f649ae97d7a9d377b88b71e9\" tg-width=\"1797\" tg-height=\"471\" referrerpolicy=\"no-referrer\">Vehicle sales came to $1.23 billion, up 127% from a year ago.</p><p><blockquote>收入总计13.1亿美元，同比增长127.2%。FactSet共识要求收入为13亿美元。汽车销售额达到12.3亿美元，同比增长127%。</blockquote></p><p> The company said the increase in vehicle sales in the quarter was mainly attributed to higher deliveries achieved from more product mix offered to Nio's users.</p><p><blockquote>该公司表示，本季度汽车销量的增长主要归因于向蔚来用户提供的更多产品组合实现了更高的交付量。</blockquote></p><p> Niodelivered 7,931 vehicles in July, up 124.5% year-over-year,&nbsp;but down 1.9% from 8,083 in June.<img src=\"https://static.tigerbbs.com/8bf75d58d683b265aadac1f3bad5be7c\" tg-width=\"1690\" tg-height=\"245\" referrerpolicy=\"no-referrer\">For the third quarter, Nio is said it expects to deliver between 23,00 and 25,000 vehicles, up 88.4% to 104.8% from a year ago.</p><p><blockquote>蔚来汽车7月份交付了7,931辆汽车，同比增长124.5%，但较6月份的8,083辆下降了1.9%。蔚来表示，第三季度预计将交付23,000至25,000辆汽车，同比增长88.4%至104.8%。</blockquote></p><p> Revenue for the third quarter is expected to range from $1.38 billion to $1.49 billion, up 96.9% to 112.8% from a year ago.&nbsp;FactSet is calling for revenue of $1.32 billion.</p><p><blockquote>第三季度营收预计在13.8亿美元至14.9亿美元之间，同比增长96.9%至112.8%。FactSet预计营收为13.2亿美元。</blockquote></p><p> William Bin Li, Nio's founder, chairman and CEO, said in a statement that the company achieved&nbsp;a record-high quarterly delivery of 21,896 vehicles in the second quarter of 2021:</p><p><blockquote>蔚来创始人、董事长兼首席执行官William Bin Li在一份声明中表示，该公司在2021年第二季度实现了创纪录的21896辆季度交付量：</blockquote></p><p> \"While the global supply chain still faces uncertainties, we have been working closely with our partners to improve the overall supply chain production capacity,\" Bin said. \"We aim to deliver three new products based on the NIO Technology Platform 2.0 in 2022, including ET7, a flagship premium smart electric sedan.\"</p><p><blockquote>Bin表示：“虽然全球供应链仍面临不确定性，但我们一直在与合作伙伴密切合作，以提高整体供应链产能。”“我们的目标是在2022年交付三款基于蔚来技术平台2.0的新产品，包括旗舰级高端智能电动轿车ET7。”</blockquote></p><p> Steven Wei Feng, Nio's chief financial officer, said&nbsp;vehicle margin and gross margin reached 20.3% and 18.6% respectively.</p><p><blockquote>蔚来首席财务官Steven Wei Feng表示，整车利润率和毛利率分别达到20.3%和18.6%。</blockquote></p><p> The increase of vehicle margin was mainly driven by the increase of vehicle delivery volume, higher average selling price, as well as lower material cost, the company said.</p><p><blockquote>该公司表示，车辆利润率的增长主要是由于车辆交付量的增加、平均售价的提高以及材料成本的降低。</blockquote></p><p> Last month, Nio&nbsp;saidthat by the end of 2025it planned to add 3,700 battery-swap stations, which would give it 4,000.</p><p><blockquote>上个月，蔚来表示，计划到2025年底增加3,700个电池交换站，这将使其达到4,000个。</blockquote></p><p></p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\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\">\nNio Stock: EV Maker's Second-Quarter Loss Narrows as Revenue Rises<blockquote>蔚来股票：随着收入增长，电动汽车制造商第二季度亏损收窄</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Street</strong><span class=\"h-time small\">2021-08-12 07:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Nio beats Wall Street's expectations as second-quarter vehicle sales surge 127%.  Nio&nbsp;(<b>NIO</b>) -Get Report&nbsp;posted better-than-expected second-quarter earnings Wednesday as&nbsp;the Chinese electric vehicle company reported a jump in revenue and raised its guidance.</p><p><blockquote>蔚来第二季度汽车销量飙升127%，超出华尔街预期。蔚来(<b>蔚来</b>)-Get Report周三公布了好于预期的第二季度收益，这家中国电动汽车公司报告收入大幅增长并上调了指引。</blockquote></p><p> Shares of the Shanghai company were essentially flat at $43.99 in after-hours trading.<img src=\"https://static.tigerbbs.com/a746dc007dc46d29bf188a45bbc86aec\" tg-width=\"708\" tg-height=\"524\" referrerpolicy=\"no-referrer\">Nio reported a net loss of&nbsp;7 cents a share. The adjusted loss coming to 3 cents a share. Analysts surveyed by FactSet were calling for a loss of 9 cents a share.</p><p><blockquote>这家上海公司的股价在盘后交易中基本持平于43.99美元。蔚来报告每股净亏损7美分。调整后每股亏损为3美分。FactSet调查的分析师预计每股亏损9美分。</blockquote></p><p> Revenue totaled $1.31 billion, up 127.2% from a year ago. The FactSet consensus called for revenue of $1.30 billion.<img src=\"https://static.tigerbbs.com/63e109b5f649ae97d7a9d377b88b71e9\" tg-width=\"1797\" tg-height=\"471\" referrerpolicy=\"no-referrer\">Vehicle sales came to $1.23 billion, up 127% from a year ago.</p><p><blockquote>收入总计13.1亿美元，同比增长127.2%。FactSet共识要求收入为13亿美元。汽车销售额达到12.3亿美元，同比增长127%。</blockquote></p><p> The company said the increase in vehicle sales in the quarter was mainly attributed to higher deliveries achieved from more product mix offered to Nio's users.</p><p><blockquote>该公司表示，本季度汽车销量的增长主要归因于向蔚来用户提供的更多产品组合实现了更高的交付量。</blockquote></p><p> Niodelivered 7,931 vehicles in July, up 124.5% year-over-year,&nbsp;but down 1.9% from 8,083 in June.<img src=\"https://static.tigerbbs.com/8bf75d58d683b265aadac1f3bad5be7c\" tg-width=\"1690\" tg-height=\"245\" referrerpolicy=\"no-referrer\">For the third quarter, Nio is said it expects to deliver between 23,00 and 25,000 vehicles, up 88.4% to 104.8% from a year ago.</p><p><blockquote>蔚来汽车7月份交付了7,931辆汽车，同比增长124.5%，但较6月份的8,083辆下降了1.9%。蔚来表示，第三季度预计将交付23,000至25,000辆汽车，同比增长88.4%至104.8%。</blockquote></p><p> Revenue for the third quarter is expected to range from $1.38 billion to $1.49 billion, up 96.9% to 112.8% from a year ago.&nbsp;FactSet is calling for revenue of $1.32 billion.</p><p><blockquote>第三季度营收预计在13.8亿美元至14.9亿美元之间，同比增长96.9%至112.8%。FactSet预计营收为13.2亿美元。</blockquote></p><p> William Bin Li, Nio's founder, chairman and CEO, said in a statement that the company achieved&nbsp;a record-high quarterly delivery of 21,896 vehicles in the second quarter of 2021:</p><p><blockquote>蔚来创始人、董事长兼首席执行官William Bin Li在一份声明中表示，该公司在2021年第二季度实现了创纪录的21896辆季度交付量：</blockquote></p><p> \"While the global supply chain still faces uncertainties, we have been working closely with our partners to improve the overall supply chain production capacity,\" Bin said. \"We aim to deliver three new products based on the NIO Technology Platform 2.0 in 2022, including ET7, a flagship premium smart electric sedan.\"</p><p><blockquote>Bin表示：“虽然全球供应链仍面临不确定性，但我们一直在与合作伙伴密切合作，以提高整体供应链产能。”“我们的目标是在2022年交付三款基于蔚来技术平台2.0的新产品，包括旗舰级高端智能电动轿车ET7。”</blockquote></p><p> Steven Wei Feng, Nio's chief financial officer, said&nbsp;vehicle margin and gross margin reached 20.3% and 18.6% respectively.</p><p><blockquote>蔚来首席财务官Steven Wei Feng表示，整车利润率和毛利率分别达到20.3%和18.6%。</blockquote></p><p> The increase of vehicle margin was mainly driven by the increase of vehicle delivery volume, higher average selling price, as well as lower material cost, the company said.</p><p><blockquote>该公司表示，车辆利润率的增长主要是由于车辆交付量的增加、平均售价的提高以及材料成本的降低。</blockquote></p><p> Last month, Nio&nbsp;saidthat by the end of 2025it planned to add 3,700 battery-swap stations, which would give it 4,000.</p><p><blockquote>上个月，蔚来表示，计划到2025年底增加3,700个电池交换站，这将使其达到4,000个。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/nio-stock-ev-makers-second-quarter-loss-narrows-as-revenue-rises\">The Street</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":{"NIO":"蔚来"},"source_url":"https://www.thestreet.com/investing/nio-stock-ev-makers-second-quarter-loss-narrows-as-revenue-rises","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106699544","content_text":"Nio beats Wall Street's expectations as second-quarter vehicle sales surge 127%.\n\nNio (NIO) -Get Report posted better-than-expected second-quarter earnings Wednesday as the Chinese electric vehicle company reported a jump in revenue and raised its guidance.\nShares of the Shanghai company were essentially flat at $43.99 in after-hours trading.Nio reported a net loss of 7 cents a share. The adjusted loss coming to 3 cents a share. Analysts surveyed by FactSet were calling for a loss of 9 cents a share.\nRevenue totaled $1.31 billion, up 127.2% from a year ago. The FactSet consensus called for revenue of $1.30 billion.Vehicle sales came to $1.23 billion, up 127% from a year ago.\nThe company said the increase in vehicle sales in the quarter was mainly attributed to higher deliveries achieved from more product mix offered to Nio's users.\nNiodelivered 7,931 vehicles in July, up 124.5% year-over-year, but down 1.9% from 8,083 in June.For the third quarter, Nio is said it expects to deliver between 23,00 and 25,000 vehicles, up 88.4% to 104.8% from a year ago.\nRevenue for the third quarter is expected to range from $1.38 billion to $1.49 billion, up 96.9% to 112.8% from a year ago. FactSet is calling for revenue of $1.32 billion.\nWilliam Bin Li, Nio's founder, chairman and CEO, said in a statement that the company achieved a record-high quarterly delivery of 21,896 vehicles in the second quarter of 2021:\n\"While the global supply chain still faces uncertainties, we have been working closely with our partners to improve the overall supply chain production capacity,\" Bin said. \"We aim to deliver three new products based on the NIO Technology Platform 2.0 in 2022, including ET7, a flagship premium smart electric sedan.\"\nSteven Wei Feng, Nio's chief financial officer, said vehicle margin and gross margin reached 20.3% and 18.6% respectively.\nThe increase of vehicle margin was mainly driven by the increase of vehicle delivery volume, higher average selling price, as well as lower material cost, the company said.\nLast month, Nio saidthat by the end of 2025it planned to add 3,700 battery-swap stations, which would give it 4,000.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":2943,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805263930,"gmtCreate":1627884262720,"gmtModify":1631891074153,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Dnt trick retailers to sell valuable stocks.&nbsp;","listText":"Dnt trick retailers to sell valuable stocks.&nbsp;","text":"Dnt trick retailers to sell valuable stocks.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805263930","repostId":"1130492644","repostType":2,"repost":{"id":"1130492644","kind":"news","pubTimestamp":1627867792,"share":"https://www.laohu8.com/m/news/1130492644?lang=zh_CN&edition=full","pubTime":"2021-08-02 09:29","market":"us","language":"en","title":"Apple: Take Your Profits Now, Come Back Later<blockquote>苹果：现在获利了结，稍后再回来</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130492644","media":"seekingalpha","summary":"Summary\n\nDividend Yield Theory is a great indicator of overvalued and undervalued shares for healthy","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Dividend Yield Theory is a great indicator of overvalued and undervalued shares for healthy companies.</li>  <li>Apple’s current high growth is temporary.</li>  <li>Apple is on its way to becoming a dividend aristocrat.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e45c69c559fb64f9cda12fb93f34c0d\" tg-width=\"1536\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"><span>Christopher Jue/Getty Images Entertainment</span></p><p><blockquote><ul><li>股息收益率理论是健康公司股票高估和低估的重要指标。</li><li>苹果目前的高增长是暂时的。</li><li>苹果正在成为股息贵族。</li></ul><p class=\"t-img-caption\"><span>克里斯托弗·觉/盖蒂图片社娱乐公司</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Investors are treating Apple (AAPL) as if it has found a second growth spurt. In reality Apple is now a fully grown cash cow, not a young budding calf. The pandemic made many companies transition to the internet faster than they wanted to. That is good for Apple but because it was already a mature business prior to the pandemic it will revert to its normal pre-pandemic growth rates.</p><p><blockquote>投资者对待苹果（AAPL）就好像它已经找到了第二次增长。事实上，苹果现在是一头成熟的摇钱树，而不是一头初露头角的小牛。疫情让许多公司比他们希望的更快地过渡到互联网。这对苹果来说是件好事，但由于它在大流行之前就已经是一家成熟的企业，因此它将恢复到大流行前的正常增长率。</blockquote></p><p> Apple’s 5 year average dividend yield from 2016 to 2020 is 1.46% currently the dividend yield on Apple is 0.68%. Apple has been paying a dividend for almost 10 years and the average is also pointing to a yield of ~1.4%. In order for Apple to offer such a yield, share prices would have to move down toward range of $75-$85. Now is the time to take your Apple profits before it reverts to the mean.</p><p><blockquote>苹果2016年至2020年的5年平均股息率为1.46%，目前苹果的股息率为0.68%。苹果已支付股息近10年，平均收益率约为1.4%。为了让苹果提供这样的收益率，股价必须下跌至75美元至85美元的范围。现在是时候在苹果利润恢复到均值之前获利了结了。</blockquote></p><p> <b>Why Apple Is Overvalued, Dividend Yield Theory</b></p><p><blockquote><b>为什么苹果被高估，股息收益率理论</b></blockquote></p><p> Dividend Yield Theory was popularized by Investment Quality Trends founder Geraldine Weiss through a book titled Dividends Don’t Lie. The essence of Dividend Yield Theory is that high quality companies tend to have a “normal” yield and as the market falls in love or out of love with the company the dividend yield fluctuates to create buy and sell opportunities.</p><p><blockquote>股息收益率理论是由投资质量趋势创始人杰拉尔丁·韦斯通过一本名为《股息不要说谎》的书推广的。股息收益率理论的本质是，高质量的公司往往具有“正常”的收益率，随着市场爱上或不爱上该公司，股息收益率会波动以创造买卖机会。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a469d363e933b84759428285f957590\" tg-width=\"640\" tg-height=\"278\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alphadividend yield</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法股息收益率</span></p></blockquote></p><p> Here we have Apple’s Dividend Yield History. Looking at the average yield column you can see that Apple’s current average yield is the lowest since Apple first started paying a dividend. This indicates Apple is a screaming sell. On the flip side, the last time Apple’s average yield was above 2% was in 2016. At that time Apple was a screaming buy. Coincidentally that was the same year Berkshire Hathaway (BRK.A) began buying Apple shares.</p><p><blockquote>这里我们有苹果的股息收益率历史。查看平均收益率栏可以看到，苹果目前的平均收益率是自苹果首次开始支付股息以来的最低水平。这表明苹果是一个尖叫出售。另一方面，苹果平均收益率上一次高于2%是在2016年。当时，苹果是一个令人尖叫的买家。巧合的是，同年Berkshire Hathaway(BRK.A)开始购买苹果股票。</blockquote></p><p> The reason this works is because the dividend yield is a product of the share price. Looking at the chart above you can see the dividend yield shrank from 2016 through 2018 which indicates the share price of Apple increased.</p><p><blockquote>之所以有效，是因为股息收益率是股价的乘积。看上图，你可以看到2016年到2018年股息收益率下降，这表明苹果的股价上涨。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/991e5d3137bf5ac3c9bc4aaf26c01581\" tg-width=\"640\" tg-height=\"320\" width=\"100%\" height=\"auto\"><span>Source: Yahoo Finance, Apple Share price from 01/01/2016 - 12/31/2018</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：雅虎财经，2016年1月1日至2018年12月31日苹果股价</span></p></blockquote></p><p> That is exactly what happened. At the peak of 2018 Apple’s dividend yield was 1.28%. At this time, Apple’s 5-year yield average was 1.86%. When 2018 ended Apple’s dividend yield was 1.97%. As you can now see, a company’s dividend yield can be a good proxy for value.</p><p><blockquote>这正是发生的事情。2018年峰值时，苹果的股息收益率为1.28%。此时，苹果5年期收益率平均值为1.86%。2018年底，苹果的股息收益率为1.97%。正如您现在所看到的，公司的股息收益率可以很好地代表价值。</blockquote></p><p> <b>This Time Is not different</b></p><p><blockquote><b>这次也不例外</b></blockquote></p><p> I know some of you at this point are thinking, well, Dividend Yield Theory is nice and all but thanks to Covid this time is different. I don’t believe this time is different for Apple and the reason is because of Apple’s maturity as a business prior to the pandemic.</p><p><blockquote>我知道你们中的一些人现在在想，股息收益率理论很好，但多亏了新冠疫情，这次不同了。我不认为这一次对苹果来说有什么不同，原因是因为苹果在大流行之前就已经成熟了。</blockquote></p><p> It is true that Apple and many other tech companies are benefiting from the pandemic, but Apple has a significant difference from a Shopify, a Zoom, and a Disney Plus. Namely Apple had already largely penetrated its total addressable market. Prior to the pandemic, most of us had never heard of Zoom. We started working from home and needed a solution for remote communication, and bam Zoom capitalizes. Prior to the pandemic, the iPhone was still the smartphone to beat, the smartphone with tens of millions of users, the must-have status symbol in places as far away as China. I spent a semester abroad in China in 2012. During that time, my professors told us how important status symbols are to the Chinese. Students of all ages would not go to school until their parents had bought them an iPhone because without it they would lose “face”. Many could not afford the phone plans and I and my friends witnessed many people having an iPhone just for show. That was in 2012, 8 years before the pandemic.</p><p><blockquote>诚然，苹果和许多其他科技公司都从疫情中受益，但苹果与Shopify、Zoom和Disney Plus有很大不同。也就是说，苹果已经在很大程度上渗透了其整个目标市场。在疫情之前，我们大多数人从未听说过Zoom。我们开始在家工作，需要一个远程通信的解决方案，bam Zoom利用了这一点。在疫情之前，iPhone仍然是值得击败的智能手机，拥有数千万用户的智能手机，是远至中国的必备身份象征。2012年我在中国留学了一个学期。那段时间，我的教授告诉我们，身份象征对中国人有多重要。所有年龄段的学生在父母给他们买iPhone之前都不会去上学，因为没有它他们会丢脸。许多人负担不起电话套餐，我和我的朋友目睹了许多人拥有iPhone只是为了炫耀。那是在2012年，比疫情大流行早了8年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9ae87be3f096ac0a13d2e38634b8c34c\" tg-width=\"640\" tg-height=\"310\" width=\"100%\" height=\"auto\"><span>Source: Apple Q3 2021*covers Apr – Jun 2021*</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：苹果2021年第三季度*涵盖2021年4月至6月*</span></p></blockquote></p><p> As we can see, the majority of Apple’s revenue comes from products. Further down products are identified as the iPhone, Mac, iPad, Wearables, Home &amp; Accessories.</p><p><blockquote>正如我们所看到的，苹果的大部分收入来自产品。进一步向下的产品被确定为iPhone、Mac、iPad、可穿戴设备、家居和配件。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3ef98109e802b72a60990d870e23814d\" tg-width=\"640\" tg-height=\"114\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p><p> Again the iPhone makes up the majority. The high growth rate in iPhone sales also backs up the theory that this round of growth is due to the Apple super cycle which seems to take place once every 3 years.</p><p><blockquote>iPhone再次占据了大多数。iPhone销量的高增长率也支持了这一轮增长是由于似乎每3年发生一次的苹果超级周期的理论。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b71f026725256789694ea1ff46574c4a\" tg-width=\"393\" tg-height=\"256\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha Financials, compiled by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Seeking Alpha Financials，作者编译</span></p></blockquote></p><p> The pattern for the last 10 years has been 1 year of stellar growth followed by 2 years of much slower growth. As you can see this results in a 10-year CAGR of ~10% - 13% depending on where we are in the cycle.</p><p><blockquote>过去10年的模式是1年的强劲增长，随后是2年的缓慢增长。正如您所看到的，这导致10年复合年增长率约为10%-13%，具体取决于我们在周期中所处的位置。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a62395de39d598a2d5fb553eca56086d\" tg-width=\"640\" tg-height=\"516\" width=\"100%\" height=\"auto\"><span>Source: Apple2017 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Apple2017 10-K</span></p></blockquote></p><p> Here we see the 2015 super cycle followed by the growth declines in 2016 and 2017.</p><p><blockquote>在这里，我们看到了2015年的超级周期，随后是2016年和2017年的增长下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e63c1a8fd16ae504ee3794c0eff4198\" tg-width=\"640\" tg-height=\"535\" width=\"100%\" height=\"auto\"><span>Source: Apple2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Apple2020 10-K</span></p></blockquote></p><p> Again it happened in the more recent super cycle of 2018 followed by declines in growth for years 2019 and 2020.</p><p><blockquote>这种情况再次发生在最近的2018年超级周期中，随后是2019年和2020年的增长下降。</blockquote></p><p> When we look into the revenue by product for these periods, we can see that iPhone sales decline and the other categories are unable to make up for the loss of revenue the next year. In the following year, 2017 and 2020, other sources of revenue increased enough for Apple’s total revenue to increase.</p><p><blockquote>当我们按产品查看这些时期的收入时，我们可以看到iPhone销量下降，其他类别无法弥补第二年的收入损失。在接下来的一年，2017年和2020年，其他收入来源的增长足以让苹果的总收入增加。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2e3954b0d588d038dc2dd5e88c39c5ec\" tg-width=\"640\" tg-height=\"131\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Patterns are likely to repeat until something happens to change them. I don't see such a catalyst on the horizon, and currently iPhone sales are again carrying Apple’s revenue to record levels. iPhone sales seem to be selling so well because of the coming transition to 5G and many iPhone owners have a device that is at least 3 years old.</p><p><blockquote>模式很可能会重复，直到发生改变它们的事情。我没有看到这样的催化剂，目前iPhone的销量再次将苹果的收入带到创纪录的水平。iPhone的销售似乎卖得很好，因为即将向5G过渡，许多iPhone用户的设备至少有3年的历史。</blockquote></p><p> The iPhone 12 was unveiled and released in October 2020. This means the super cycle is expected to end with the iPhone 13 which is expected to come out in September or October. I believe this indicates FY 2022 will be a rough year for Apple shareholders.</p><p><blockquote>iPhone 12于2020年10月亮相并发布。这意味着超级周期预计将随着预计在9月或10月推出的iPhone 13而结束。我相信这表明2022财年对于苹果股东来说将是艰难的一年。</blockquote></p><p> <b>Apple’s Third And Final Act - A Cash Cow</b></p><p><blockquote><b>苹果的第三幕也是最后一幕——摇钱树</b></blockquote></p><p> Investors need to pay attention to Apple’s future as a dividend aristocrat. Apple is transitioning toward more service based revenues. This is a higher margin business but there is less explosive innovation, meaning growth will decline.</p><p><blockquote>投资者需要关注苹果作为股息贵族的未来。苹果正在向更多基于服务的收入转型。这是一项利润率较高的业务，但爆炸性创新较少，这意味着增长将会下降。</blockquote></p><p> At the current share price, investors are “locking in” a targeted return of 9% over the next 10 years based on some optimistic assumptions.</p><p><blockquote>按照目前的股价，投资者基于一些乐观的假设，“锁定”了未来10年9%的目标回报率。</blockquote></p><p> <ul>  <li>Growth of 19.3% for the first 5 years followed by 12% growth for the second five years.</li>  <li>An expected dividend growth rate of 17.5%</li>  <li>Apple reverts to their historic P/E of 21.</li> </ul> All of that together means Apple’s share price in 10 years will be $293.47 and the dividend will be at $4.43 a share giving existing shareholders a yield of 1.5% which is much closer to their current 5-year average yield.</p><p><blockquote><ul><li>前5年增长19.3%，第二个5年增长12%。</li><li>预期股息增长率为17.5%</li><li>苹果恢复到21的历史市盈率。</li></ul>所有这些加在一起意味着苹果10年后的股价将为293.47美元，股息将为每股4.43美元，现有股东的收益率为1.5%，更接近他们当前的5年平均收益率。</blockquote></p><p> Apple’s dividend payout ratio is currently 15.86%. Other companies in the IT sector like Texas Instruments (TXN), and Intuit (INTU) have a payout ratio of 51% and 25% respectively which shows Apple’s dividends will be much higher in the coming years. With a projected EPS of $14 in 2031 a 51% payout would mean a dividend of $7/sh.</p><p><blockquote>苹果目前的股息支付率为15.86%。德州仪器(TXN)和Intuit(INTU)等IT行业的其他公司的派息率分别为51%和25%，这表明苹果未来几年的股息将高得多。预计2031年每股收益为14美元，51%的派息意味着每股7美元的股息。</blockquote></p><p> <b>Risk and Opportunity, The Dividend increase</b></p><p><blockquote><b>风险与机遇，股息增加</b></blockquote></p><p> Based on the 5 year average dividend yield and the current rate of dividend increases, it is likely the dividend will be increased to $1.03-$1.14. In order for Apple to maintain its historic yield at the projected future dividend, Apple shares would have to trade around $80. it is possible that Apple pays up and raises their dividend to $1.89. Apple spent $14 billion on their dividend in 2020 and raising it to $1.89 will increase the price tag to $31 billion. This would increase their payout ratio to 34% which is a typical payout ratio for cash cow companies.</p><p><blockquote>根据5年平均股息收益率和当前股息增长率，股息可能会增加至1.03-1.14美元。为了让苹果在预计的未来股息中维持其历史收益率，苹果股价必须在80美元左右。苹果有可能支付并将股息提高至1.89美元。苹果在2020年的股息上花费了140亿美元，将股息提高到1.89美元将使股价达到310亿美元。这将使他们的派息率提高到34%，这是现金牛公司的典型派息率。</blockquote></p><p> The expected dividend I project is based on the percentage of operating cash flow the dividend takes up. Over the last 3 years, it has ranged from 15% to 18%. I used an estimated $100.15 billion for operating cash flows and at 19% you get the $1.14 dividend.</p><p><blockquote>预期股息I项目基于股息占经营现金流的百分比。在过去的3年里，这一比例从15%到18%不等。我估计使用了1001.5亿美元的运营现金流，按19%计算，您将获得1.14美元的股息。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/153079186d84770e064411e34a42745e\" tg-width=\"304\" tg-height=\"74\" width=\"100%\" height=\"auto\"><span>Source: Seeking AlphaCash Flow Statement</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha现金流量表</span></p></blockquote></p><p> Lastly it is possible that a dividend yield of less than 1% becomes the norm for Apple. If the current 2021 yield average of 0.63% becomes the new normal, Apple’s share price should rise to $163.49 - $180.95 based on my projected dividend increase.</p><p><blockquote>最后，低于1%的股息收益率有可能成为苹果的常态。如果目前2021年0.63%的平均收益率成为新常态，根据我预计的股息增长，苹果的股价应该会上涨至163.49美元至180.95美元。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p></p><p> Sell Apple, take your profits now. The super cycle will end. Come back later and buy Apple at a discount when the dividend yield is higher.</p><p><blockquote>卖出苹果，立即获利了结。超级周期将结束。稍后再来，等股息收益率较高时折价买入苹果。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple: Take Your Profits Now, Come Back Later<blockquote>苹果：现在获利了结，稍后再回来</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple: Take Your Profits Now, Come Back Later<blockquote>苹果：现在获利了结，稍后再回来</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-02 09:29</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>Dividend Yield Theory is a great indicator of overvalued and undervalued shares for healthy companies.</li>  <li>Apple’s current high growth is temporary.</li>  <li>Apple is on its way to becoming a dividend aristocrat.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e45c69c559fb64f9cda12fb93f34c0d\" tg-width=\"1536\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"><span>Christopher Jue/Getty Images Entertainment</span></p><p><blockquote><ul><li>股息收益率理论是健康公司股票高估和低估的重要指标。</li><li>苹果目前的高增长是暂时的。</li><li>苹果正在成为股息贵族。</li></ul><p class=\"t-img-caption\"><span>克里斯托弗·觉/盖蒂图片社娱乐公司</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Investors are treating Apple (AAPL) as if it has found a second growth spurt. In reality Apple is now a fully grown cash cow, not a young budding calf. The pandemic made many companies transition to the internet faster than they wanted to. That is good for Apple but because it was already a mature business prior to the pandemic it will revert to its normal pre-pandemic growth rates.</p><p><blockquote>投资者对待苹果（AAPL）就好像它已经找到了第二次增长。事实上，苹果现在是一头成熟的摇钱树，而不是一头初露头角的小牛。疫情让许多公司比他们希望的更快地过渡到互联网。这对苹果来说是件好事，但由于它在大流行之前就已经是一家成熟的企业，因此它将恢复到大流行前的正常增长率。</blockquote></p><p> Apple’s 5 year average dividend yield from 2016 to 2020 is 1.46% currently the dividend yield on Apple is 0.68%. Apple has been paying a dividend for almost 10 years and the average is also pointing to a yield of ~1.4%. In order for Apple to offer such a yield, share prices would have to move down toward range of $75-$85. Now is the time to take your Apple profits before it reverts to the mean.</p><p><blockquote>苹果2016年至2020年的5年平均股息率为1.46%，目前苹果的股息率为0.68%。苹果已支付股息近10年，平均收益率约为1.4%。为了让苹果提供这样的收益率，股价必须下跌至75美元至85美元的范围。现在是时候在苹果利润恢复到均值之前获利了结了。</blockquote></p><p> <b>Why Apple Is Overvalued, Dividend Yield Theory</b></p><p><blockquote><b>为什么苹果被高估，股息收益率理论</b></blockquote></p><p> Dividend Yield Theory was popularized by Investment Quality Trends founder Geraldine Weiss through a book titled Dividends Don’t Lie. The essence of Dividend Yield Theory is that high quality companies tend to have a “normal” yield and as the market falls in love or out of love with the company the dividend yield fluctuates to create buy and sell opportunities.</p><p><blockquote>股息收益率理论是由投资质量趋势创始人杰拉尔丁·韦斯通过一本名为《股息不要说谎》的书推广的。股息收益率理论的本质是，高质量的公司往往具有“正常”的收益率，随着市场爱上或不爱上该公司，股息收益率会波动以创造买卖机会。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a469d363e933b84759428285f957590\" tg-width=\"640\" tg-height=\"278\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alphadividend yield</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法股息收益率</span></p></blockquote></p><p> Here we have Apple’s Dividend Yield History. Looking at the average yield column you can see that Apple’s current average yield is the lowest since Apple first started paying a dividend. This indicates Apple is a screaming sell. On the flip side, the last time Apple’s average yield was above 2% was in 2016. At that time Apple was a screaming buy. Coincidentally that was the same year Berkshire Hathaway (BRK.A) began buying Apple shares.</p><p><blockquote>这里我们有苹果的股息收益率历史。查看平均收益率栏可以看到，苹果目前的平均收益率是自苹果首次开始支付股息以来的最低水平。这表明苹果是一个尖叫出售。另一方面，苹果平均收益率上一次高于2%是在2016年。当时，苹果是一个令人尖叫的买家。巧合的是，同年Berkshire Hathaway(BRK.A)开始购买苹果股票。</blockquote></p><p> The reason this works is because the dividend yield is a product of the share price. Looking at the chart above you can see the dividend yield shrank from 2016 through 2018 which indicates the share price of Apple increased.</p><p><blockquote>之所以有效，是因为股息收益率是股价的乘积。看上图，你可以看到2016年到2018年股息收益率下降，这表明苹果的股价上涨。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/991e5d3137bf5ac3c9bc4aaf26c01581\" tg-width=\"640\" tg-height=\"320\" width=\"100%\" height=\"auto\"><span>Source: Yahoo Finance, Apple Share price from 01/01/2016 - 12/31/2018</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：雅虎财经，2016年1月1日至2018年12月31日苹果股价</span></p></blockquote></p><p> That is exactly what happened. At the peak of 2018 Apple’s dividend yield was 1.28%. At this time, Apple’s 5-year yield average was 1.86%. When 2018 ended Apple’s dividend yield was 1.97%. As you can now see, a company’s dividend yield can be a good proxy for value.</p><p><blockquote>这正是发生的事情。2018年峰值时，苹果的股息收益率为1.28%。此时，苹果5年期收益率平均值为1.86%。2018年底，苹果的股息收益率为1.97%。正如您现在所看到的，公司的股息收益率可以很好地代表价值。</blockquote></p><p> <b>This Time Is not different</b></p><p><blockquote><b>这次也不例外</b></blockquote></p><p> I know some of you at this point are thinking, well, Dividend Yield Theory is nice and all but thanks to Covid this time is different. I don’t believe this time is different for Apple and the reason is because of Apple’s maturity as a business prior to the pandemic.</p><p><blockquote>我知道你们中的一些人现在在想，股息收益率理论很好，但多亏了新冠疫情，这次不同了。我不认为这一次对苹果来说有什么不同，原因是因为苹果在大流行之前就已经成熟了。</blockquote></p><p> It is true that Apple and many other tech companies are benefiting from the pandemic, but Apple has a significant difference from a Shopify, a Zoom, and a Disney Plus. Namely Apple had already largely penetrated its total addressable market. Prior to the pandemic, most of us had never heard of Zoom. We started working from home and needed a solution for remote communication, and bam Zoom capitalizes. Prior to the pandemic, the iPhone was still the smartphone to beat, the smartphone with tens of millions of users, the must-have status symbol in places as far away as China. I spent a semester abroad in China in 2012. During that time, my professors told us how important status symbols are to the Chinese. Students of all ages would not go to school until their parents had bought them an iPhone because without it they would lose “face”. Many could not afford the phone plans and I and my friends witnessed many people having an iPhone just for show. That was in 2012, 8 years before the pandemic.</p><p><blockquote>诚然，苹果和许多其他科技公司都从疫情中受益，但苹果与Shopify、Zoom和Disney Plus有很大不同。也就是说，苹果已经在很大程度上渗透了其整个目标市场。在疫情之前，我们大多数人从未听说过Zoom。我们开始在家工作，需要一个远程通信的解决方案，bam Zoom利用了这一点。在疫情之前，iPhone仍然是值得击败的智能手机，拥有数千万用户的智能手机，是远至中国的必备身份象征。2012年我在中国留学了一个学期。那段时间，我的教授告诉我们，身份象征对中国人有多重要。所有年龄段的学生在父母给他们买iPhone之前都不会去上学，因为没有它他们会丢脸。许多人负担不起电话套餐，我和我的朋友目睹了许多人拥有iPhone只是为了炫耀。那是在2012年，比疫情大流行早了8年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9ae87be3f096ac0a13d2e38634b8c34c\" tg-width=\"640\" tg-height=\"310\" width=\"100%\" height=\"auto\"><span>Source: Apple Q3 2021*covers Apr – Jun 2021*</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：苹果2021年第三季度*涵盖2021年4月至6月*</span></p></blockquote></p><p> As we can see, the majority of Apple’s revenue comes from products. Further down products are identified as the iPhone, Mac, iPad, Wearables, Home &amp; Accessories.</p><p><blockquote>正如我们所看到的，苹果的大部分收入来自产品。进一步向下的产品被确定为iPhone、Mac、iPad、可穿戴设备、家居和配件。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3ef98109e802b72a60990d870e23814d\" tg-width=\"640\" tg-height=\"114\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p><p> Again the iPhone makes up the majority. The high growth rate in iPhone sales also backs up the theory that this round of growth is due to the Apple super cycle which seems to take place once every 3 years.</p><p><blockquote>iPhone再次占据了大多数。iPhone销量的高增长率也支持了这一轮增长是由于似乎每3年发生一次的苹果超级周期的理论。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b71f026725256789694ea1ff46574c4a\" tg-width=\"393\" tg-height=\"256\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha Financials, compiled by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Seeking Alpha Financials，作者编译</span></p></blockquote></p><p> The pattern for the last 10 years has been 1 year of stellar growth followed by 2 years of much slower growth. As you can see this results in a 10-year CAGR of ~10% - 13% depending on where we are in the cycle.</p><p><blockquote>过去10年的模式是1年的强劲增长，随后是2年的缓慢增长。正如您所看到的，这导致10年复合年增长率约为10%-13%，具体取决于我们在周期中所处的位置。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a62395de39d598a2d5fb553eca56086d\" tg-width=\"640\" tg-height=\"516\" width=\"100%\" height=\"auto\"><span>Source: Apple2017 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Apple2017 10-K</span></p></blockquote></p><p> Here we see the 2015 super cycle followed by the growth declines in 2016 and 2017.</p><p><blockquote>在这里，我们看到了2015年的超级周期，随后是2016年和2017年的增长下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e63c1a8fd16ae504ee3794c0eff4198\" tg-width=\"640\" tg-height=\"535\" width=\"100%\" height=\"auto\"><span>Source: Apple2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Apple2020 10-K</span></p></blockquote></p><p> Again it happened in the more recent super cycle of 2018 followed by declines in growth for years 2019 and 2020.</p><p><blockquote>这种情况再次发生在最近的2018年超级周期中，随后是2019年和2020年的增长下降。</blockquote></p><p> When we look into the revenue by product for these periods, we can see that iPhone sales decline and the other categories are unable to make up for the loss of revenue the next year. In the following year, 2017 and 2020, other sources of revenue increased enough for Apple’s total revenue to increase.</p><p><blockquote>当我们按产品查看这些时期的收入时，我们可以看到iPhone销量下降，其他类别无法弥补第二年的收入损失。在接下来的一年，2017年和2020年，其他收入来源的增长足以让苹果的总收入增加。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2e3954b0d588d038dc2dd5e88c39c5ec\" tg-width=\"640\" tg-height=\"131\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Patterns are likely to repeat until something happens to change them. I don't see such a catalyst on the horizon, and currently iPhone sales are again carrying Apple’s revenue to record levels. iPhone sales seem to be selling so well because of the coming transition to 5G and many iPhone owners have a device that is at least 3 years old.</p><p><blockquote>模式很可能会重复，直到发生改变它们的事情。我没有看到这样的催化剂，目前iPhone的销量再次将苹果的收入带到创纪录的水平。iPhone的销售似乎卖得很好，因为即将向5G过渡，许多iPhone用户的设备至少有3年的历史。</blockquote></p><p> The iPhone 12 was unveiled and released in October 2020. This means the super cycle is expected to end with the iPhone 13 which is expected to come out in September or October. I believe this indicates FY 2022 will be a rough year for Apple shareholders.</p><p><blockquote>iPhone 12于2020年10月亮相并发布。这意味着超级周期预计将随着预计在9月或10月推出的iPhone 13而结束。我相信这表明2022财年对于苹果股东来说将是艰难的一年。</blockquote></p><p> <b>Apple’s Third And Final Act - A Cash Cow</b></p><p><blockquote><b>苹果的第三幕也是最后一幕——摇钱树</b></blockquote></p><p> Investors need to pay attention to Apple’s future as a dividend aristocrat. Apple is transitioning toward more service based revenues. This is a higher margin business but there is less explosive innovation, meaning growth will decline.</p><p><blockquote>投资者需要关注苹果作为股息贵族的未来。苹果正在向更多基于服务的收入转型。这是一项利润率较高的业务，但爆炸性创新较少，这意味着增长将会下降。</blockquote></p><p> At the current share price, investors are “locking in” a targeted return of 9% over the next 10 years based on some optimistic assumptions.</p><p><blockquote>按照目前的股价，投资者基于一些乐观的假设，“锁定”了未来10年9%的目标回报率。</blockquote></p><p> <ul>  <li>Growth of 19.3% for the first 5 years followed by 12% growth for the second five years.</li>  <li>An expected dividend growth rate of 17.5%</li>  <li>Apple reverts to their historic P/E of 21.</li> </ul> All of that together means Apple’s share price in 10 years will be $293.47 and the dividend will be at $4.43 a share giving existing shareholders a yield of 1.5% which is much closer to their current 5-year average yield.</p><p><blockquote><ul><li>前5年增长19.3%，第二个5年增长12%。</li><li>预期股息增长率为17.5%</li><li>苹果恢复到21的历史市盈率。</li></ul>所有这些加在一起意味着苹果10年后的股价将为293.47美元，股息将为每股4.43美元，现有股东的收益率为1.5%，更接近他们当前的5年平均收益率。</blockquote></p><p> Apple’s dividend payout ratio is currently 15.86%. Other companies in the IT sector like Texas Instruments (TXN), and Intuit (INTU) have a payout ratio of 51% and 25% respectively which shows Apple’s dividends will be much higher in the coming years. With a projected EPS of $14 in 2031 a 51% payout would mean a dividend of $7/sh.</p><p><blockquote>苹果目前的股息支付率为15.86%。德州仪器(TXN)和Intuit(INTU)等IT行业的其他公司的派息率分别为51%和25%，这表明苹果未来几年的股息将高得多。预计2031年每股收益为14美元，51%的派息意味着每股7美元的股息。</blockquote></p><p> <b>Risk and Opportunity, The Dividend increase</b></p><p><blockquote><b>风险与机遇，股息增加</b></blockquote></p><p> Based on the 5 year average dividend yield and the current rate of dividend increases, it is likely the dividend will be increased to $1.03-$1.14. In order for Apple to maintain its historic yield at the projected future dividend, Apple shares would have to trade around $80. it is possible that Apple pays up and raises their dividend to $1.89. Apple spent $14 billion on their dividend in 2020 and raising it to $1.89 will increase the price tag to $31 billion. This would increase their payout ratio to 34% which is a typical payout ratio for cash cow companies.</p><p><blockquote>根据5年平均股息收益率和当前股息增长率，股息可能会增加至1.03-1.14美元。为了让苹果在预计的未来股息中维持其历史收益率，苹果股价必须在80美元左右。苹果有可能支付并将股息提高至1.89美元。苹果在2020年的股息上花费了140亿美元，将股息提高到1.89美元将使股价达到310亿美元。这将使他们的派息率提高到34%，这是现金牛公司的典型派息率。</blockquote></p><p> The expected dividend I project is based on the percentage of operating cash flow the dividend takes up. Over the last 3 years, it has ranged from 15% to 18%. I used an estimated $100.15 billion for operating cash flows and at 19% you get the $1.14 dividend.</p><p><blockquote>预期股息I项目基于股息占经营现金流的百分比。在过去的3年里，这一比例从15%到18%不等。我估计使用了1001.5亿美元的运营现金流，按19%计算，您将获得1.14美元的股息。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/153079186d84770e064411e34a42745e\" tg-width=\"304\" tg-height=\"74\" width=\"100%\" height=\"auto\"><span>Source: Seeking AlphaCash Flow Statement</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha现金流量表</span></p></blockquote></p><p> Lastly it is possible that a dividend yield of less than 1% becomes the norm for Apple. If the current 2021 yield average of 0.63% becomes the new normal, Apple’s share price should rise to $163.49 - $180.95 based on my projected dividend increase.</p><p><blockquote>最后，低于1%的股息收益率有可能成为苹果的常态。如果目前2021年0.63%的平均收益率成为新常态，根据我预计的股息增长，苹果的股价应该会上涨至163.49美元至180.95美元。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p></p><p> Sell Apple, take your profits now. The super cycle will end. Come back later and buy Apple at a discount when the dividend yield is higher.</p><p><blockquote>卖出苹果，立即获利了结。超级周期将结束。稍后再来，等股息收益率较高时折价买入苹果。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4443676-apple-take-your-profits-before-its-too-late\">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":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4443676-apple-take-your-profits-before-its-too-late","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130492644","content_text":"Summary\n\nDividend Yield Theory is a great indicator of overvalued and undervalued shares for healthy companies.\nApple’s current high growth is temporary.\nApple is on its way to becoming a dividend aristocrat.\n\nChristopher Jue/Getty Images Entertainment\nInvestment Thesis\nInvestors are treating Apple (AAPL) as if it has found a second growth spurt. In reality Apple is now a fully grown cash cow, not a young budding calf. The pandemic made many companies transition to the internet faster than they wanted to. That is good for Apple but because it was already a mature business prior to the pandemic it will revert to its normal pre-pandemic growth rates.\nApple’s 5 year average dividend yield from 2016 to 2020 is 1.46% currently the dividend yield on Apple is 0.68%. Apple has been paying a dividend for almost 10 years and the average is also pointing to a yield of ~1.4%. In order for Apple to offer such a yield, share prices would have to move down toward range of $75-$85. Now is the time to take your Apple profits before it reverts to the mean.\nWhy Apple Is Overvalued, Dividend Yield Theory\nDividend Yield Theory was popularized by Investment Quality Trends founder Geraldine Weiss through a book titled Dividends Don’t Lie. The essence of Dividend Yield Theory is that high quality companies tend to have a “normal” yield and as the market falls in love or out of love with the company the dividend yield fluctuates to create buy and sell opportunities.\nSource: Seeking Alphadividend yield\nHere we have Apple’s Dividend Yield History. Looking at the average yield column you can see that Apple’s current average yield is the lowest since Apple first started paying a dividend. This indicates Apple is a screaming sell. On the flip side, the last time Apple’s average yield was above 2% was in 2016. At that time Apple was a screaming buy. Coincidentally that was the same year Berkshire Hathaway (BRK.A) began buying Apple shares.\nThe reason this works is because the dividend yield is a product of the share price. Looking at the chart above you can see the dividend yield shrank from 2016 through 2018 which indicates the share price of Apple increased.\nSource: Yahoo Finance, Apple Share price from 01/01/2016 - 12/31/2018\nThat is exactly what happened. At the peak of 2018 Apple’s dividend yield was 1.28%. At this time, Apple’s 5-year yield average was 1.86%. When 2018 ended Apple’s dividend yield was 1.97%. As you can now see, a company’s dividend yield can be a good proxy for value.\nThis Time Is not different\nI know some of you at this point are thinking, well, Dividend Yield Theory is nice and all but thanks to Covid this time is different. I don’t believe this time is different for Apple and the reason is because of Apple’s maturity as a business prior to the pandemic.\nIt is true that Apple and many other tech companies are benefiting from the pandemic, but Apple has a significant difference from a Shopify, a Zoom, and a Disney Plus. Namely Apple had already largely penetrated its total addressable market. Prior to the pandemic, most of us had never heard of Zoom. We started working from home and needed a solution for remote communication, and bam Zoom capitalizes. Prior to the pandemic, the iPhone was still the smartphone to beat, the smartphone with tens of millions of users, the must-have status symbol in places as far away as China. I spent a semester abroad in China in 2012. During that time, my professors told us how important status symbols are to the Chinese. Students of all ages would not go to school until their parents had bought them an iPhone because without it they would lose “face”. Many could not afford the phone plans and I and my friends witnessed many people having an iPhone just for show. That was in 2012, 8 years before the pandemic.\nSource: Apple Q3 2021*covers Apr – Jun 2021*\nAs we can see, the majority of Apple’s revenue comes from products. Further down products are identified as the iPhone, Mac, iPad, Wearables, Home & Accessories.\n\nAgain the iPhone makes up the majority. The high growth rate in iPhone sales also backs up the theory that this round of growth is due to the Apple super cycle which seems to take place once every 3 years.\nSource: Seeking Alpha Financials, compiled by author\nThe pattern for the last 10 years has been 1 year of stellar growth followed by 2 years of much slower growth. As you can see this results in a 10-year CAGR of ~10% - 13% depending on where we are in the cycle.\nSource: Apple2017 10-K\nHere we see the 2015 super cycle followed by the growth declines in 2016 and 2017.\nSource: Apple2020 10-K\nAgain it happened in the more recent super cycle of 2018 followed by declines in growth for years 2019 and 2020.\nWhen we look into the revenue by product for these periods, we can see that iPhone sales decline and the other categories are unable to make up for the loss of revenue the next year. In the following year, 2017 and 2020, other sources of revenue increased enough for Apple’s total revenue to increase.\n\nPatterns are likely to repeat until something happens to change them. I don't see such a catalyst on the horizon, and currently iPhone sales are again carrying Apple’s revenue to record levels. iPhone sales seem to be selling so well because of the coming transition to 5G and many iPhone owners have a device that is at least 3 years old.\nThe iPhone 12 was unveiled and released in October 2020. This means the super cycle is expected to end with the iPhone 13 which is expected to come out in September or October. I believe this indicates FY 2022 will be a rough year for Apple shareholders.\nApple’s Third And Final Act - A Cash Cow\nInvestors need to pay attention to Apple’s future as a dividend aristocrat. Apple is transitioning toward more service based revenues. This is a higher margin business but there is less explosive innovation, meaning growth will decline.\nAt the current share price, investors are “locking in” a targeted return of 9% over the next 10 years based on some optimistic assumptions.\n\nGrowth of 19.3% for the first 5 years followed by 12% growth for the second five years.\nAn expected dividend growth rate of 17.5%\nApple reverts to their historic P/E of 21.\n\nAll of that together means Apple’s share price in 10 years will be $293.47 and the dividend will be at $4.43 a share giving existing shareholders a yield of 1.5% which is much closer to their current 5-year average yield.\nApple’s dividend payout ratio is currently 15.86%. Other companies in the IT sector like Texas Instruments (TXN), and Intuit (INTU) have a payout ratio of 51% and 25% respectively which shows Apple’s dividends will be much higher in the coming years. With a projected EPS of $14 in 2031 a 51% payout would mean a dividend of $7/sh.\nRisk and Opportunity, The Dividend increase\nBased on the 5 year average dividend yield and the current rate of dividend increases, it is likely the dividend will be increased to $1.03-$1.14. In order for Apple to maintain its historic yield at the projected future dividend, Apple shares would have to trade around $80. it is possible that Apple pays up and raises their dividend to $1.89. Apple spent $14 billion on their dividend in 2020 and raising it to $1.89 will increase the price tag to $31 billion. This would increase their payout ratio to 34% which is a typical payout ratio for cash cow companies.\nThe expected dividend I project is based on the percentage of operating cash flow the dividend takes up. Over the last 3 years, it has ranged from 15% to 18%. I used an estimated $100.15 billion for operating cash flows and at 19% you get the $1.14 dividend.\nSource: Seeking AlphaCash Flow Statement\nLastly it is possible that a dividend yield of less than 1% becomes the norm for Apple. If the current 2021 yield average of 0.63% becomes the new normal, Apple’s share price should rise to $163.49 - $180.95 based on my projected dividend increase.\nConclusion\nSell Apple, take your profits now. The super cycle will end. Come back later and buy Apple at a discount when the dividend yield is higher.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808654275,"gmtCreate":1627576734097,"gmtModify":1631891074142,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>守得云开[捂脸]&nbsp;","listText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>守得云开[捂脸]&nbsp;","text":"$AMD(AMD)$守得云开[捂脸]","images":[{"img":"https://static.tigerbbs.com/f428f8b2ef7ee35f032781b08c97bf2d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808654275","isVote":1,"tweetType":1,"viewCount":1197,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":803580323,"gmtCreate":1627447882962,"gmtModify":1631883895910,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"One of the stock you should have.&nbsp;","listText":"One of the stock you should have.&nbsp;","text":"One of the stock you should have.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803580323","repostId":"803590843","repostType":1,"repost":{"id":803590843,"gmtCreate":1627445932482,"gmtModify":1627471884031,"author":{"id":"21347731130544","authorId":"21347731130544","name":"价值投资为王","avatar":"https://static.tigerbbs.com/89ffffc59ff9ac9cb9cb74f596418d44","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"21347731130544","idStr":"21347731130544"},"themes":[],"title":"AMD二季报：崛起的AMD开始咄咄逼人了！","htmlText":"芯片巨头AMD<a target=\"_blank\" href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>昨夜发布了二季度财报，一如往常，业绩超出市场预期。 在谈及和老对手英特尔的竞争时，AMD首席执行官苏姿丰放言要“为每一个CPU插槽而战”！ 强劲的业绩、先进的产品组合，AMD急不可耐上调了2021年全年营收增速，由之前预期的50%上调至60%。 如果2021年之前的AMD是走在复兴的路上，那之后的AMD将开始咄咄逼人，老对手英特尔恐将左右夹击！ 在利好财报加持之下，AMD盘后股价微涨1%，幅度似乎对不住大超预期的财报，但实际上并不难理解，毕竟财报超预期已经成为AMD的传统！ 量价齐升，AMD净利润暴增352%！ 在二季报发布之前，AMD给出的指引是营收36亿美元，上下浮动1亿美元，毛利率在47%。彭博分析师一致预期的收入在36.13亿。 成绩单揭晓之后，AMD二季度实际营收38.5亿美元，同比增长99.3%，毛利率48%，双双超出预期。 在AMD的营收结构中，分为两类来源，一个是计算与图形业务，包括台式机和笔记本电脑的CPU及GPU销售；另外一个是企业、嵌入式和半定制业务，包括数据中心和游戏机收入。 计算与图形业务二季度实现22.5亿美元营收，同比增长64.6%，远超过往4个季度的增速。 推动营收增长的原因是量价齐升，由于锐龙桌面及笔记本处理器的丰富组合，客户端处理器ASP均价同比、环比都在上涨，高端Radeon显卡均价同样都在增长。 企业、嵌入式和半定制业务二季度实现营收16亿美元，同比大增183%，环比增长19%，增长是由 EPYC处理器收入和半定制产品销售增加推动的。 量价齐升同时带来了盈利能力的爆发，二季度AMD净利润7.1亿美元，同比暴增352%，净利率达到18.4%。 对于二季度业绩，AMD首席执行官苏姿丰表示：“我们的","listText":"芯片巨头AMD<a target=\"_blank\" href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>昨夜发布了二季度财报，一如往常，业绩超出市场预期。 在谈及和老对手英特尔的竞争时，AMD首席执行官苏姿丰放言要“为每一个CPU插槽而战”！ 强劲的业绩、先进的产品组合，AMD急不可耐上调了2021年全年营收增速，由之前预期的50%上调至60%。 如果2021年之前的AMD是走在复兴的路上，那之后的AMD将开始咄咄逼人，老对手英特尔恐将左右夹击！ 在利好财报加持之下，AMD盘后股价微涨1%，幅度似乎对不住大超预期的财报，但实际上并不难理解，毕竟财报超预期已经成为AMD的传统！ 量价齐升，AMD净利润暴增352%！ 在二季报发布之前，AMD给出的指引是营收36亿美元，上下浮动1亿美元，毛利率在47%。彭博分析师一致预期的收入在36.13亿。 成绩单揭晓之后，AMD二季度实际营收38.5亿美元，同比增长99.3%，毛利率48%，双双超出预期。 在AMD的营收结构中，分为两类来源，一个是计算与图形业务，包括台式机和笔记本电脑的CPU及GPU销售；另外一个是企业、嵌入式和半定制业务，包括数据中心和游戏机收入。 计算与图形业务二季度实现22.5亿美元营收，同比增长64.6%，远超过往4个季度的增速。 推动营收增长的原因是量价齐升，由于锐龙桌面及笔记本处理器的丰富组合，客户端处理器ASP均价同比、环比都在上涨，高端Radeon显卡均价同样都在增长。 企业、嵌入式和半定制业务二季度实现营收16亿美元，同比大增183%，环比增长19%，增长是由 EPYC处理器收入和半定制产品销售增加推动的。 量价齐升同时带来了盈利能力的爆发，二季度AMD净利润7.1亿美元，同比暴增352%，净利率达到18.4%。 对于二季度业绩，AMD首席执行官苏姿丰表示：“我们的","text":"芯片巨头AMD$AMD(AMD)$昨夜发布了二季度财报，一如往常，业绩超出市场预期。 在谈及和老对手英特尔的竞争时，AMD首席执行官苏姿丰放言要“为每一个CPU插槽而战”！ 强劲的业绩、先进的产品组合，AMD急不可耐上调了2021年全年营收增速，由之前预期的50%上调至60%。 如果2021年之前的AMD是走在复兴的路上，那之后的AMD将开始咄咄逼人，老对手英特尔恐将左右夹击！ 在利好财报加持之下，AMD盘后股价微涨1%，幅度似乎对不住大超预期的财报，但实际上并不难理解，毕竟财报超预期已经成为AMD的传统！ 量价齐升，AMD净利润暴增352%！ 在二季报发布之前，AMD给出的指引是营收36亿美元，上下浮动1亿美元，毛利率在47%。彭博分析师一致预期的收入在36.13亿。 成绩单揭晓之后，AMD二季度实际营收38.5亿美元，同比增长99.3%，毛利率48%，双双超出预期。 在AMD的营收结构中，分为两类来源，一个是计算与图形业务，包括台式机和笔记本电脑的CPU及GPU销售；另外一个是企业、嵌入式和半定制业务，包括数据中心和游戏机收入。 计算与图形业务二季度实现22.5亿美元营收，同比增长64.6%，远超过往4个季度的增速。 推动营收增长的原因是量价齐升，由于锐龙桌面及笔记本处理器的丰富组合，客户端处理器ASP均价同比、环比都在上涨，高端Radeon显卡均价同样都在增长。 企业、嵌入式和半定制业务二季度实现营收16亿美元，同比大增183%，环比增长19%，增长是由 EPYC处理器收入和半定制产品销售增加推动的。 量价齐升同时带来了盈利能力的爆发，二季度AMD净利润7.1亿美元，同比暴增352%，净利率达到18.4%。 对于二季度业绩，AMD首席执行官苏姿丰表示：“我们的","images":[{"img":"https://static.tigerbbs.com/d39b42c52aeab5e8c537adc3396fb656","width":"688","height":"382"},{"img":"https://static.tigerbbs.com/82412d0a4465522828ca704f09372286","width":"688","height":"347"},{"img":"https://static.tigerbbs.com/746ff6ca42d63e39f56d12bb53bd3be4","width":"688","height":"252"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803590843","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":5,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179488008,"gmtCreate":1626571489004,"gmtModify":1631891074148,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Good chance to buy more&nbsp;<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)$</a>","listText":"Good chance to buy more&nbsp;<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)$</a>","text":"Good chance to buy more $Taiwan Semiconductor Manufacturing(TSM)$","images":[{"img":"https://static.tigerbbs.com/6642731b85f74eeb80c87378918ec315","width":"1080","height":"2412"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179488008","isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":199061741,"gmtCreate":1620657347083,"gmtModify":1631891074149,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Is it time to fire another bullet in favourite Tech/Semicon&nbsp;stock?<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)</a>","listText":"Is it time to fire another bullet in favourite Tech/Semicon&nbsp;stock?<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)</a>","text":"Is it time to fire another bullet in favourite Tech/Semicon stock?$Taiwan Semiconductor Manufacturing(TSM)","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/199061741","isVote":1,"tweetType":1,"viewCount":646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106335911,"gmtCreate":1620087799433,"gmtModify":1631884222898,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Well.. not bad news at all. Just another journey in life.","listText":"Well.. not bad news at all. Just another journey in life.","text":"Well.. not bad news at all. Just another journey in life.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/106335911","repostId":"1147234999","repostType":4,"isVote":1,"tweetType":1,"viewCount":304,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103063741,"gmtCreate":1619739574683,"gmtModify":1631893972061,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>One Apple a Day...","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>One Apple a Day...","text":"$Apple(AAPL)$One Apple a Day...","images":[{"img":"https://static.tigerbbs.com/60dc8592fa8956c2acc121181a9a30ff","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103063741","isVote":1,"tweetType":1,"viewCount":403,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":383093869,"gmtCreate":1612803405551,"gmtModify":1703765366892,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/DADA\">$Dada Nexus Limited(DADA)$</a> 每次拉高当天就会放卖量了，各位小心。我去赚其他股比较容易 哈哈。","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/DADA\">$Dada Nexus Limited(DADA)$</a> 每次拉高当天就会放卖量了，各位小心。我去赚其他股比较容易 哈哈。","text":"$Dada Nexus Limited(DADA)$ 每次拉高当天就会放卖量了，各位小心。我去赚其他股比较容易 哈哈。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/383093869","isVote":1,"tweetType":1,"viewCount":1672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":330581401,"gmtCreate":1608648641803,"gmtModify":1703735972177,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>head to head&nbsp;<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>head to head&nbsp;<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>","text":"$Apple(AAPL)$head to head $Tesla Motors(TSLA)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/330581401","isVote":1,"tweetType":1,"viewCount":454,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3527667803686145","idStr":"3527667803686145"},"content":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引","text":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引","html":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":895327298,"gmtCreate":1628725677314,"gmtModify":1631891074145,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"let's go Nio!","listText":"let's go Nio!","text":"let's go Nio!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/895327298","repostId":"1106699544","repostType":4,"repost":{"id":"1106699544","kind":"news","pubTimestamp":1628723648,"share":"https://www.laohu8.com/m/news/1106699544?lang=zh_CN&edition=full","pubTime":"2021-08-12 07:14","market":"us","language":"en","title":"Nio Stock: EV Maker's Second-Quarter Loss Narrows as Revenue Rises<blockquote>蔚来股票：随着收入增长，电动汽车制造商第二季度亏损收窄</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106699544","media":"The Street","summary":"Nio beats Wall Street's expectations as second-quarter vehicle sales surge 127%.Nio  -Get Report posted better-than-expected second-quarter earnings Wednesday as the Chinese electric vehicle company reported a jump in revenue and raised its guidance.Shares of the Shanghai company were essentially flat at $43.99 in after-hours trading.Nio reported a net loss of 7 cents a share. The adjusted loss coming to 3 cents a share. Analysts surveyed by FactSet were calling for a loss of 9 cents a share.Rev","content":"<p>  Nio beats Wall Street's expectations as second-quarter vehicle sales surge 127%.  Nio&nbsp;(<b>NIO</b>) -Get Report&nbsp;posted better-than-expected second-quarter earnings Wednesday as&nbsp;the Chinese electric vehicle company reported a jump in revenue and raised its guidance.</p><p><blockquote>蔚来第二季度汽车销量飙升127%，超出华尔街预期。蔚来(<b>蔚来</b>)-Get Report周三公布了好于预期的第二季度收益，这家中国电动汽车公司报告收入大幅增长并上调了指引。</blockquote></p><p> Shares of the Shanghai company were essentially flat at $43.99 in after-hours trading.<img src=\"https://static.tigerbbs.com/a746dc007dc46d29bf188a45bbc86aec\" tg-width=\"708\" tg-height=\"524\" referrerpolicy=\"no-referrer\">Nio reported a net loss of&nbsp;7 cents a share. The adjusted loss coming to 3 cents a share. Analysts surveyed by FactSet were calling for a loss of 9 cents a share.</p><p><blockquote>这家上海公司的股价在盘后交易中基本持平于43.99美元。蔚来报告每股净亏损7美分。调整后每股亏损为3美分。FactSet调查的分析师预计每股亏损9美分。</blockquote></p><p> Revenue totaled $1.31 billion, up 127.2% from a year ago. The FactSet consensus called for revenue of $1.30 billion.<img src=\"https://static.tigerbbs.com/63e109b5f649ae97d7a9d377b88b71e9\" tg-width=\"1797\" tg-height=\"471\" referrerpolicy=\"no-referrer\">Vehicle sales came to $1.23 billion, up 127% from a year ago.</p><p><blockquote>收入总计13.1亿美元，同比增长127.2%。FactSet共识要求收入为13亿美元。汽车销售额达到12.3亿美元，同比增长127%。</blockquote></p><p> The company said the increase in vehicle sales in the quarter was mainly attributed to higher deliveries achieved from more product mix offered to Nio's users.</p><p><blockquote>该公司表示，本季度汽车销量的增长主要归因于向蔚来用户提供的更多产品组合实现了更高的交付量。</blockquote></p><p> Niodelivered 7,931 vehicles in July, up 124.5% year-over-year,&nbsp;but down 1.9% from 8,083 in June.<img src=\"https://static.tigerbbs.com/8bf75d58d683b265aadac1f3bad5be7c\" tg-width=\"1690\" tg-height=\"245\" referrerpolicy=\"no-referrer\">For the third quarter, Nio is said it expects to deliver between 23,00 and 25,000 vehicles, up 88.4% to 104.8% from a year ago.</p><p><blockquote>蔚来汽车7月份交付了7,931辆汽车，同比增长124.5%，但较6月份的8,083辆下降了1.9%。蔚来表示，第三季度预计将交付23,000至25,000辆汽车，同比增长88.4%至104.8%。</blockquote></p><p> Revenue for the third quarter is expected to range from $1.38 billion to $1.49 billion, up 96.9% to 112.8% from a year ago.&nbsp;FactSet is calling for revenue of $1.32 billion.</p><p><blockquote>第三季度营收预计在13.8亿美元至14.9亿美元之间，同比增长96.9%至112.8%。FactSet预计营收为13.2亿美元。</blockquote></p><p> William Bin Li, Nio's founder, chairman and CEO, said in a statement that the company achieved&nbsp;a record-high quarterly delivery of 21,896 vehicles in the second quarter of 2021:</p><p><blockquote>蔚来创始人、董事长兼首席执行官William Bin Li在一份声明中表示，该公司在2021年第二季度实现了创纪录的21896辆季度交付量：</blockquote></p><p> \"While the global supply chain still faces uncertainties, we have been working closely with our partners to improve the overall supply chain production capacity,\" Bin said. \"We aim to deliver three new products based on the NIO Technology Platform 2.0 in 2022, including ET7, a flagship premium smart electric sedan.\"</p><p><blockquote>Bin表示：“虽然全球供应链仍面临不确定性，但我们一直在与合作伙伴密切合作，以提高整体供应链产能。”“我们的目标是在2022年交付三款基于蔚来技术平台2.0的新产品，包括旗舰级高端智能电动轿车ET7。”</blockquote></p><p> Steven Wei Feng, Nio's chief financial officer, said&nbsp;vehicle margin and gross margin reached 20.3% and 18.6% respectively.</p><p><blockquote>蔚来首席财务官Steven Wei Feng表示，整车利润率和毛利率分别达到20.3%和18.6%。</blockquote></p><p> The increase of vehicle margin was mainly driven by the increase of vehicle delivery volume, higher average selling price, as well as lower material cost, the company said.</p><p><blockquote>该公司表示，车辆利润率的增长主要是由于车辆交付量的增加、平均售价的提高以及材料成本的降低。</blockquote></p><p> Last month, Nio&nbsp;saidthat by the end of 2025it planned to add 3,700 battery-swap stations, which would give it 4,000.</p><p><blockquote>上个月，蔚来表示，计划到2025年底增加3,700个电池交换站，这将使其达到4,000个。</blockquote></p><p></p>","source":"lsy1610613172068","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>Nio Stock: EV Maker's Second-Quarter Loss Narrows as Revenue Rises<blockquote>蔚来股票：随着收入增长，电动汽车制造商第二季度亏损收窄</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\">\nNio Stock: EV Maker's Second-Quarter Loss Narrows as Revenue Rises<blockquote>蔚来股票：随着收入增长，电动汽车制造商第二季度亏损收窄</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Street</strong><span class=\"h-time small\">2021-08-12 07:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Nio beats Wall Street's expectations as second-quarter vehicle sales surge 127%.  Nio&nbsp;(<b>NIO</b>) -Get Report&nbsp;posted better-than-expected second-quarter earnings Wednesday as&nbsp;the Chinese electric vehicle company reported a jump in revenue and raised its guidance.</p><p><blockquote>蔚来第二季度汽车销量飙升127%，超出华尔街预期。蔚来(<b>蔚来</b>)-Get Report周三公布了好于预期的第二季度收益，这家中国电动汽车公司报告收入大幅增长并上调了指引。</blockquote></p><p> Shares of the Shanghai company were essentially flat at $43.99 in after-hours trading.<img src=\"https://static.tigerbbs.com/a746dc007dc46d29bf188a45bbc86aec\" tg-width=\"708\" tg-height=\"524\" referrerpolicy=\"no-referrer\">Nio reported a net loss of&nbsp;7 cents a share. The adjusted loss coming to 3 cents a share. Analysts surveyed by FactSet were calling for a loss of 9 cents a share.</p><p><blockquote>这家上海公司的股价在盘后交易中基本持平于43.99美元。蔚来报告每股净亏损7美分。调整后每股亏损为3美分。FactSet调查的分析师预计每股亏损9美分。</blockquote></p><p> Revenue totaled $1.31 billion, up 127.2% from a year ago. The FactSet consensus called for revenue of $1.30 billion.<img src=\"https://static.tigerbbs.com/63e109b5f649ae97d7a9d377b88b71e9\" tg-width=\"1797\" tg-height=\"471\" referrerpolicy=\"no-referrer\">Vehicle sales came to $1.23 billion, up 127% from a year ago.</p><p><blockquote>收入总计13.1亿美元，同比增长127.2%。FactSet共识要求收入为13亿美元。汽车销售额达到12.3亿美元，同比增长127%。</blockquote></p><p> The company said the increase in vehicle sales in the quarter was mainly attributed to higher deliveries achieved from more product mix offered to Nio's users.</p><p><blockquote>该公司表示，本季度汽车销量的增长主要归因于向蔚来用户提供的更多产品组合实现了更高的交付量。</blockquote></p><p> Niodelivered 7,931 vehicles in July, up 124.5% year-over-year,&nbsp;but down 1.9% from 8,083 in June.<img src=\"https://static.tigerbbs.com/8bf75d58d683b265aadac1f3bad5be7c\" tg-width=\"1690\" tg-height=\"245\" referrerpolicy=\"no-referrer\">For the third quarter, Nio is said it expects to deliver between 23,00 and 25,000 vehicles, up 88.4% to 104.8% from a year ago.</p><p><blockquote>蔚来汽车7月份交付了7,931辆汽车，同比增长124.5%，但较6月份的8,083辆下降了1.9%。蔚来表示，第三季度预计将交付23,000至25,000辆汽车，同比增长88.4%至104.8%。</blockquote></p><p> Revenue for the third quarter is expected to range from $1.38 billion to $1.49 billion, up 96.9% to 112.8% from a year ago.&nbsp;FactSet is calling for revenue of $1.32 billion.</p><p><blockquote>第三季度营收预计在13.8亿美元至14.9亿美元之间，同比增长96.9%至112.8%。FactSet预计营收为13.2亿美元。</blockquote></p><p> William Bin Li, Nio's founder, chairman and CEO, said in a statement that the company achieved&nbsp;a record-high quarterly delivery of 21,896 vehicles in the second quarter of 2021:</p><p><blockquote>蔚来创始人、董事长兼首席执行官William Bin Li在一份声明中表示，该公司在2021年第二季度实现了创纪录的21896辆季度交付量：</blockquote></p><p> \"While the global supply chain still faces uncertainties, we have been working closely with our partners to improve the overall supply chain production capacity,\" Bin said. \"We aim to deliver three new products based on the NIO Technology Platform 2.0 in 2022, including ET7, a flagship premium smart electric sedan.\"</p><p><blockquote>Bin表示：“虽然全球供应链仍面临不确定性，但我们一直在与合作伙伴密切合作，以提高整体供应链产能。”“我们的目标是在2022年交付三款基于蔚来技术平台2.0的新产品，包括旗舰级高端智能电动轿车ET7。”</blockquote></p><p> Steven Wei Feng, Nio's chief financial officer, said&nbsp;vehicle margin and gross margin reached 20.3% and 18.6% respectively.</p><p><blockquote>蔚来首席财务官Steven Wei Feng表示，整车利润率和毛利率分别达到20.3%和18.6%。</blockquote></p><p> The increase of vehicle margin was mainly driven by the increase of vehicle delivery volume, higher average selling price, as well as lower material cost, the company said.</p><p><blockquote>该公司表示，车辆利润率的增长主要是由于车辆交付量的增加、平均售价的提高以及材料成本的降低。</blockquote></p><p> Last month, Nio&nbsp;saidthat by the end of 2025it planned to add 3,700 battery-swap stations, which would give it 4,000.</p><p><blockquote>上个月，蔚来表示，计划到2025年底增加3,700个电池交换站，这将使其达到4,000个。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/nio-stock-ev-makers-second-quarter-loss-narrows-as-revenue-rises\">The Street</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":{"NIO":"蔚来"},"source_url":"https://www.thestreet.com/investing/nio-stock-ev-makers-second-quarter-loss-narrows-as-revenue-rises","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106699544","content_text":"Nio beats Wall Street's expectations as second-quarter vehicle sales surge 127%.\n\nNio (NIO) -Get Report posted better-than-expected second-quarter earnings Wednesday as the Chinese electric vehicle company reported a jump in revenue and raised its guidance.\nShares of the Shanghai company were essentially flat at $43.99 in after-hours trading.Nio reported a net loss of 7 cents a share. The adjusted loss coming to 3 cents a share. Analysts surveyed by FactSet were calling for a loss of 9 cents a share.\nRevenue totaled $1.31 billion, up 127.2% from a year ago. The FactSet consensus called for revenue of $1.30 billion.Vehicle sales came to $1.23 billion, up 127% from a year ago.\nThe company said the increase in vehicle sales in the quarter was mainly attributed to higher deliveries achieved from more product mix offered to Nio's users.\nNiodelivered 7,931 vehicles in July, up 124.5% year-over-year, but down 1.9% from 8,083 in June.For the third quarter, Nio is said it expects to deliver between 23,00 and 25,000 vehicles, up 88.4% to 104.8% from a year ago.\nRevenue for the third quarter is expected to range from $1.38 billion to $1.49 billion, up 96.9% to 112.8% from a year ago. FactSet is calling for revenue of $1.32 billion.\nWilliam Bin Li, Nio's founder, chairman and CEO, said in a statement that the company achieved a record-high quarterly delivery of 21,896 vehicles in the second quarter of 2021:\n\"While the global supply chain still faces uncertainties, we have been working closely with our partners to improve the overall supply chain production capacity,\" Bin said. \"We aim to deliver three new products based on the NIO Technology Platform 2.0 in 2022, including ET7, a flagship premium smart electric sedan.\"\nSteven Wei Feng, Nio's chief financial officer, said vehicle margin and gross margin reached 20.3% and 18.6% respectively.\nThe increase of vehicle margin was mainly driven by the increase of vehicle delivery volume, higher average selling price, as well as lower material cost, the company said.\nLast month, Nio saidthat by the end of 2025it planned to add 3,700 battery-swap stations, which would give it 4,000.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":2943,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894925147,"gmtCreate":1628784238489,"gmtModify":1631891074135,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>蛮强的嘛 那么快就回弹上来了","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>蛮强的嘛 那么快就回弹上来了","text":"$NIO Inc.(NIO)$蛮强的嘛 那么快就回弹上来了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894925147","isVote":1,"tweetType":1,"viewCount":1545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":832144001,"gmtCreate":1629601401303,"gmtModify":1631891074126,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Seems good!","listText":"Seems good!","text":"Seems good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/832144001","repostId":"2161745814","repostType":4,"isVote":1,"tweetType":1,"viewCount":1545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":199061741,"gmtCreate":1620657347083,"gmtModify":1631891074149,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Is it time to fire another bullet in favourite Tech/Semicon&nbsp;stock?<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)</a>","listText":"Is it time to fire another bullet in favourite Tech/Semicon&nbsp;stock?<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)</a>","text":"Is it time to fire another bullet in favourite Tech/Semicon stock?$Taiwan Semiconductor Manufacturing(TSM)","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/199061741","isVote":1,"tweetType":1,"viewCount":646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383093869,"gmtCreate":1612803405551,"gmtModify":1703765366892,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/DADA\">$Dada Nexus Limited(DADA)$</a> 每次拉高当天就会放卖量了，各位小心。我去赚其他股比较容易 哈哈。","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/DADA\">$Dada Nexus Limited(DADA)$</a> 每次拉高当天就会放卖量了，各位小心。我去赚其他股比较容易 哈哈。","text":"$Dada Nexus Limited(DADA)$ 每次拉高当天就会放卖量了，各位小心。我去赚其他股比较容易 哈哈。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/383093869","isVote":1,"tweetType":1,"viewCount":1672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":838187614,"gmtCreate":1629381097938,"gmtModify":1631891074129,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Any insights on this? What the government planning to do?","listText":"Any insights on this? What the government planning to do?","text":"Any insights on this? What the government planning to do?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838187614","repostId":"1127010631","repostType":4,"repost":{"id":"1127010631","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":1629380357,"share":"https://www.laohu8.com/m/news/1127010631?lang=zh_CN&edition=full","pubTime":"2021-08-19 21:39","market":"us","language":"en","title":"Some China concepts stocks tumbled in morning trading<blockquote>部分中概股早盘暴跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127010631","media":"Tiger Newspress","summary":"(Aug 19) Some China concepts stocks tumbled in morning trading. \nChinese technology stocks sold off,","content":"<p>(Aug 19)&nbsp;Some China concepts stocks tumbled in morning trading.&nbsp;</p><p><blockquote>（8月19日）部分中概股早盘暴跌。</blockquote></p><p> Chinese technology stocks sold off, led by some of the country’s Internet giants, after two government ministries said they were likely to impose additional regulations on the sector.</p><p><blockquote>在两个政府部门表示可能对该行业实施额外监管后，中国科技股遭到抛售，其中一些互联网巨头领跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4310f534d8b053edff53a4c9e0acd6f\" tg-width=\"275\" tg-height=\"766\" referrerpolicy=\"no-referrer\"></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>Some China concepts stocks tumbled in morning trading<blockquote>部分中概股早盘暴跌</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\">\nSome China concepts stocks tumbled in morning trading<blockquote>部分中概股早盘暴跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-19 21:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug 19)&nbsp;Some China concepts stocks tumbled in morning trading.&nbsp;</p><p><blockquote>（8月19日）部分中概股早盘暴跌。</blockquote></p><p> Chinese technology stocks sold off, led by some of the country’s Internet giants, after two government ministries said they were likely to impose additional regulations on the sector.</p><p><blockquote>在两个政府部门表示可能对该行业实施额外监管后，中国科技股遭到抛售，其中一些互联网巨头领跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4310f534d8b053edff53a4c9e0acd6f\" tg-width=\"275\" tg-height=\"766\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127010631","content_text":"(Aug 19) Some China concepts stocks tumbled in morning trading. \nChinese technology stocks sold off, led by some of the country’s Internet giants, after two government ministries said they were likely to impose additional regulations on the sector.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897222153,"gmtCreate":1628926596772,"gmtModify":1631891074132,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"值得收藏[财迷]&nbsp;","listText":"值得收藏[财迷]&nbsp;","text":"值得收藏[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897222153","repostId":"897827664","repostType":1,"repost":{"id":897827664,"gmtCreate":1628907157258,"gmtModify":1629343569744,"author":{"id":"3444504177139447","authorId":"3444504177139447","name":"投资小达人","avatar":"https://static.tigerbbs.com/cace575a7391eddd10a8a0c6537aadf4","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3444504177139447","idStr":"3444504177139447"},"themes":[],"title":"普通投资者如何理性的进行股票投资？","htmlText":"投资者必看：股市有风险，投资需谨慎，更需要学习！本文仅代笔个人观点，不构成任何投资建议！切记：不创业，必投资！投资小达人陪着大家一起慢慢变富，今天投资小达人和大家一起聊聊投资者如何理性的进行股票投资。炒股好心态等于理性 + 学习加 + 自我认知 + 加坚信。炒股赚钱等于对企业长期的深度了解，将对资金的短期走势判断家对人性弱点的控制。将对自身心态的修炼，前面三个因素都是可以通过时间努力实战来累积的，唯独心态的修炼是很多投资者一辈子无法跨越的坎，我一直认为投资股票的天赋不在技术不在分析而在心态。第一个有几年就足够把所有的知识点都学会，但是心态的修炼却是一辈子的事情，投资者最终能不能在股市赚钱，能不能通过股市实现复利，关键还是自己的心态。很多事情都是大道至简，都是看山是山看山不是山，最终山还是山的过程，学到最后你会发现你赚的钱5% ，来源于技术和分析，95%的钱来源于自己的心态。可以不亏的本，可以赚得的钱，为什么亏了？为什么没有赚到？是不是心态不稳了，是不是心态崩了，是不是贪婪了，是不是恐惧了，这些都是投资的核心问题。我们来详细聊一聊心态的修炼一，克服贪婪和恐惧，贪婪和恐惧都来源于人性的弱点，我们总是会在股市忘记风险，涨了1%想涨2% ，涨了5%想涨10%，永远没有满足，都将连续赚钱，几个月后就可以财务自由，一年成为首富，贪婪不仅仅来源于人性的弱点，还来源于无知，但凡对投资有点了解的投资者都知道，4%的年化收益是一个标杆。这是年化不是一天的收益，只要冷静的思考就会知道当你在短期获利的时候，也获得了风险。任何得到的背后都一定赋予了失去。只是你还没来得及察觉，很多股民并不是没有在股市赚钱，只是想赚更多，最终收益没有得到，然后本金还亏了，这是大部分投资者亏钱的原因。很少有投资者从未在股市赚钱，大部分都是赚钱了，没卖而亏钱的，这就是贪婪的副作用，我们要克服贪婪心理的前提就是一定要冷静地告","listText":"投资者必看：股市有风险，投资需谨慎，更需要学习！本文仅代笔个人观点，不构成任何投资建议！切记：不创业，必投资！投资小达人陪着大家一起慢慢变富，今天投资小达人和大家一起聊聊投资者如何理性的进行股票投资。炒股好心态等于理性 + 学习加 + 自我认知 + 加坚信。炒股赚钱等于对企业长期的深度了解，将对资金的短期走势判断家对人性弱点的控制。将对自身心态的修炼，前面三个因素都是可以通过时间努力实战来累积的，唯独心态的修炼是很多投资者一辈子无法跨越的坎，我一直认为投资股票的天赋不在技术不在分析而在心态。第一个有几年就足够把所有的知识点都学会，但是心态的修炼却是一辈子的事情，投资者最终能不能在股市赚钱，能不能通过股市实现复利，关键还是自己的心态。很多事情都是大道至简，都是看山是山看山不是山，最终山还是山的过程，学到最后你会发现你赚的钱5% ，来源于技术和分析，95%的钱来源于自己的心态。可以不亏的本，可以赚得的钱，为什么亏了？为什么没有赚到？是不是心态不稳了，是不是心态崩了，是不是贪婪了，是不是恐惧了，这些都是投资的核心问题。我们来详细聊一聊心态的修炼一，克服贪婪和恐惧，贪婪和恐惧都来源于人性的弱点，我们总是会在股市忘记风险，涨了1%想涨2% ，涨了5%想涨10%，永远没有满足，都将连续赚钱，几个月后就可以财务自由，一年成为首富，贪婪不仅仅来源于人性的弱点，还来源于无知，但凡对投资有点了解的投资者都知道，4%的年化收益是一个标杆。这是年化不是一天的收益，只要冷静的思考就会知道当你在短期获利的时候，也获得了风险。任何得到的背后都一定赋予了失去。只是你还没来得及察觉，很多股民并不是没有在股市赚钱，只是想赚更多，最终收益没有得到，然后本金还亏了，这是大部分投资者亏钱的原因。很少有投资者从未在股市赚钱，大部分都是赚钱了，没卖而亏钱的，这就是贪婪的副作用，我们要克服贪婪心理的前提就是一定要冷静地告","text":"投资者必看：股市有风险，投资需谨慎，更需要学习！本文仅代笔个人观点，不构成任何投资建议！切记：不创业，必投资！投资小达人陪着大家一起慢慢变富，今天投资小达人和大家一起聊聊投资者如何理性的进行股票投资。炒股好心态等于理性 + 学习加 + 自我认知 + 加坚信。炒股赚钱等于对企业长期的深度了解，将对资金的短期走势判断家对人性弱点的控制。将对自身心态的修炼，前面三个因素都是可以通过时间努力实战来累积的，唯独心态的修炼是很多投资者一辈子无法跨越的坎，我一直认为投资股票的天赋不在技术不在分析而在心态。第一个有几年就足够把所有的知识点都学会，但是心态的修炼却是一辈子的事情，投资者最终能不能在股市赚钱，能不能通过股市实现复利，关键还是自己的心态。很多事情都是大道至简，都是看山是山看山不是山，最终山还是山的过程，学到最后你会发现你赚的钱5% ，来源于技术和分析，95%的钱来源于自己的心态。可以不亏的本，可以赚得的钱，为什么亏了？为什么没有赚到？是不是心态不稳了，是不是心态崩了，是不是贪婪了，是不是恐惧了，这些都是投资的核心问题。我们来详细聊一聊心态的修炼一，克服贪婪和恐惧，贪婪和恐惧都来源于人性的弱点，我们总是会在股市忘记风险，涨了1%想涨2% ，涨了5%想涨10%，永远没有满足，都将连续赚钱，几个月后就可以财务自由，一年成为首富，贪婪不仅仅来源于人性的弱点，还来源于无知，但凡对投资有点了解的投资者都知道，4%的年化收益是一个标杆。这是年化不是一天的收益，只要冷静的思考就会知道当你在短期获利的时候，也获得了风险。任何得到的背后都一定赋予了失去。只是你还没来得及察觉，很多股民并不是没有在股市赚钱，只是想赚更多，最终收益没有得到，然后本金还亏了，这是大部分投资者亏钱的原因。很少有投资者从未在股市赚钱，大部分都是赚钱了，没卖而亏钱的，这就是贪婪的副作用，我们要克服贪婪心理的前提就是一定要冷静地告","images":[{"img":"https://static.tigerbbs.com/9cc45eb3d9914bea25c0b6a0450fa33b"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897827664","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":330581401,"gmtCreate":1608648641803,"gmtModify":1703735972177,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>head to head&nbsp;<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>head to head&nbsp;<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>","text":"$Apple(AAPL)$head to head $Tesla Motors(TSLA)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/330581401","isVote":1,"tweetType":1,"viewCount":454,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3527667803686145","idStr":"3527667803686145"},"content":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引","text":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引","html":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818909595,"gmtCreate":1630368796717,"gmtModify":1704959140886,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Ahh do some estimation before buy in. Or when you're confused.","listText":"Ahh do some estimation before buy in. Or when you're confused.","text":"Ahh do some estimation before buy in. Or when you're confused.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/818909595","repostId":"813178684","repostType":1,"repost":{"id":813178684,"gmtCreate":1630161285848,"gmtModify":1738938877730,"author":{"id":"3569596171790192","authorId":"3569596171790192","name":"星辰妹子","avatar":"https://static.tigerbbs.com/cddb910fe1d8659eded8ce18cf79d126","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569596171790192","idStr":"3569596171790192"},"themes":[],"title":"投资不是以股票的「价格」来决定，而是以股票的「价值」来决定","htmlText":"话是这样说没错，但是我们该如何计算股票的内在价值呢？别担心，我已经帮大家准备好一个“必学”的估值法清单。想以估值法发掘优质股的话，就赶紧接着看下去吧！【估值法1：本益比（P/E）】本益比也称作「市盈率」，指的是个股的「市价」与「每股盈率」的比率。它的方程式如下：本益比（P/E）= 股价（Share Price） x 每股盈利（Earning Per Share）每股盈利（Earning Per Share）= 净盈利（Net Income） ➗ 发行股票数量（Common Shares Outstanding）【估值法2：本益成长比（PEG）】「本益比」和「本益成长比」，虽然它们俩的名称相似，但它们始终是不同的估值法。所谓本益成长比，指的是个股的「本益比」和「盈利增长速度」的比率。它的方程式如下：本益成长比（PEG）= 本益比（P/E）➗ 盈利增长率（Earnings Growth Rate）与本益比不同的是，本益成长比有将公司预期的「盈利增长率」添加到计算当中，弥补了前者的不足。【本益成长比的例子】举个例子，我们有两个投资选项，X公司和Y公司，而它们的详情如下：从以上列表来看，若我们单以「本益比」做判断，我们会认为X公司比Y公司更值得投资。但是，若我们纳入盈利增长率，我们就会发现Y公司更具有投资价值。因此，一般投资者会认为，若公司的PEG低于1，那代表它被低估；若公司的PEG高于1，那代表它被高估；若公司的PEG相等于1，那代表它的价格合理。当然，本益成长比仅适用于拥有稳定收入和盈利的公司。若公司的亏损或盈利的落差起伏很大，那便会导致该估值法失去参考价值。【估值法3：市销率（P/S）】若你对科技股有兴趣，那么你一定得了解这估值法！所谓市销率，指的是个股「股价」与「每股销售额」的比率。该估值法有两种计算方式：第1种计算方程式：市销率（P/S）= 每股股价（Share Pri","listText":"话是这样说没错，但是我们该如何计算股票的内在价值呢？别担心，我已经帮大家准备好一个“必学”的估值法清单。想以估值法发掘优质股的话，就赶紧接着看下去吧！【估值法1：本益比（P/E）】本益比也称作「市盈率」，指的是个股的「市价」与「每股盈率」的比率。它的方程式如下：本益比（P/E）= 股价（Share Price） x 每股盈利（Earning Per Share）每股盈利（Earning Per Share）= 净盈利（Net Income） ➗ 发行股票数量（Common Shares Outstanding）【估值法2：本益成长比（PEG）】「本益比」和「本益成长比」，虽然它们俩的名称相似，但它们始终是不同的估值法。所谓本益成长比，指的是个股的「本益比」和「盈利增长速度」的比率。它的方程式如下：本益成长比（PEG）= 本益比（P/E）➗ 盈利增长率（Earnings Growth Rate）与本益比不同的是，本益成长比有将公司预期的「盈利增长率」添加到计算当中，弥补了前者的不足。【本益成长比的例子】举个例子，我们有两个投资选项，X公司和Y公司，而它们的详情如下：从以上列表来看，若我们单以「本益比」做判断，我们会认为X公司比Y公司更值得投资。但是，若我们纳入盈利增长率，我们就会发现Y公司更具有投资价值。因此，一般投资者会认为，若公司的PEG低于1，那代表它被低估；若公司的PEG高于1，那代表它被高估；若公司的PEG相等于1，那代表它的价格合理。当然，本益成长比仅适用于拥有稳定收入和盈利的公司。若公司的亏损或盈利的落差起伏很大，那便会导致该估值法失去参考价值。【估值法3：市销率（P/S）】若你对科技股有兴趣，那么你一定得了解这估值法！所谓市销率，指的是个股「股价」与「每股销售额」的比率。该估值法有两种计算方式：第1种计算方程式：市销率（P/S）= 每股股价（Share Pri","text":"话是这样说没错，但是我们该如何计算股票的内在价值呢？别担心，我已经帮大家准备好一个“必学”的估值法清单。想以估值法发掘优质股的话，就赶紧接着看下去吧！【估值法1：本益比（P/E）】本益比也称作「市盈率」，指的是个股的「市价」与「每股盈率」的比率。它的方程式如下：本益比（P/E）= 股价（Share Price） x 每股盈利（Earning Per Share）每股盈利（Earning Per Share）= 净盈利（Net Income） ➗ 发行股票数量（Common Shares Outstanding）【估值法2：本益成长比（PEG）】「本益比」和「本益成长比」，虽然它们俩的名称相似，但它们始终是不同的估值法。所谓本益成长比，指的是个股的「本益比」和「盈利增长速度」的比率。它的方程式如下：本益成长比（PEG）= 本益比（P/E）➗ 盈利增长率（Earnings Growth Rate）与本益比不同的是，本益成长比有将公司预期的「盈利增长率」添加到计算当中，弥补了前者的不足。【本益成长比的例子】举个例子，我们有两个投资选项，X公司和Y公司，而它们的详情如下：从以上列表来看，若我们单以「本益比」做判断，我们会认为X公司比Y公司更值得投资。但是，若我们纳入盈利增长率，我们就会发现Y公司更具有投资价值。因此，一般投资者会认为，若公司的PEG低于1，那代表它被低估；若公司的PEG高于1，那代表它被高估；若公司的PEG相等于1，那代表它的价格合理。当然，本益成长比仅适用于拥有稳定收入和盈利的公司。若公司的亏损或盈利的落差起伏很大，那便会导致该估值法失去参考价值。【估值法3：市销率（P/S）】若你对科技股有兴趣，那么你一定得了解这估值法！所谓市销率，指的是个股「股价」与「每股销售额」的比率。该估值法有两种计算方式：第1种计算方程式：市销率（P/S）= 每股股价（Share Pri","images":[{"img":"https://static.tigerbbs.com/498fd13cdd4b97bd02e80f9e1ea9a6fd","width":"1080","height":"608"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813178684","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2814,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813003876,"gmtCreate":1630111522995,"gmtModify":1704956064391,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/00981\">$SMIC(00981)$</a>是你吗？&nbsp;","listText":"<a href=\"https://laohu8.com/S/00981\">$SMIC(00981)$</a>是你吗？&nbsp;","text":"$SMIC(00981)$是你吗？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813003876","repostId":"837381708","repostType":1,"repost":{"id":837381708,"gmtCreate":1629857334600,"gmtModify":1731386565426,"author":{"id":"3502860692623653","authorId":"3502860692623653","name":"爱上趋势股","avatar":"https://static.tigerbbs.com/17f4521614b0cae62aff9fa7fa80fa77","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3502860692623653","idStr":"3502860692623653"},"themes":[],"title":"这次的腾讯回购不一样：不能盲目乐观！","htmlText":"腾讯这家公司有一个非常牛的数据，就是历史上，几乎每次大规模回购，股价都能在 1 个月内起稳，而后创出历史新高： 与此同时，腾讯的估值也创下了历史新低： 所以，很多人狂欢：回购 + 不到 20PE 的腾讯，就是送钱！是时候满仓抄底了！ 人在盲目乐观的时候，就容易干出一些不理性的事情，所以我需要给大家泼盆冷水，冷静一下。 一、先说回购 这次回购只有 7696 万港币，这点钱还没有腾讯半天赚得多，所以意义大于实际。后面仍要继续听其言观其行。 二、再说估值 在 8 月初，证券时报发表了一篇文章，不是精神鸦片那个，而是： 在税收上游戏行业应该向传统行业适度看齐 内容指出： 游戏产业现在已发展壮大，政府就没有必要再继续给予产业扶持，相反的， 游戏企业应承担更多的社会责任，在税收上回馈社会。对此，游戏产业应该做好心理准备。 不仅如此，近日又有媒体传闻： 某互联网企业向投资者透露其部分业务将不再被视为重点软件企业，从而不再享受 10% 的税收优惠政策。 税收优惠政策调整或将对所有互联网企业产生影响。 可能大家不知道这个事情有多严重。 根据国内现有税收政策，法定企业所得税税率为 25%，但经认定为高新技术的享受 15% 的优惠税率；而被积极引导发展的互联网企业可以享受 10% 的优惠税率，像腾讯和阿里这样的大公司，甚至可以做到 8% 的税率。 比如，2020 年： 华为利润 646 亿，纳税 1010 亿； 腾讯利润 1598 亿，纳税仅 200 多亿； 阿里利润 1493 亿，纳税仅 366 亿。 这就是为什么腾讯阿里的利润比华为多近 1000 亿，纳税却只有华为的 1/4 的原因之一。但现在风向变化，腾讯和阿里如果被排除在优惠税率之外，税率要达到 15%，甚至 20% 以上，总之苦日子要来了！ 这对于互联网企业，是一笔不小的支出，从大方向来看，因为产业转型需要，国家重点扶持的是硬件和","listText":"腾讯这家公司有一个非常牛的数据，就是历史上，几乎每次大规模回购，股价都能在 1 个月内起稳，而后创出历史新高： 与此同时，腾讯的估值也创下了历史新低： 所以，很多人狂欢：回购 + 不到 20PE 的腾讯，就是送钱！是时候满仓抄底了！ 人在盲目乐观的时候，就容易干出一些不理性的事情，所以我需要给大家泼盆冷水，冷静一下。 一、先说回购 这次回购只有 7696 万港币，这点钱还没有腾讯半天赚得多，所以意义大于实际。后面仍要继续听其言观其行。 二、再说估值 在 8 月初，证券时报发表了一篇文章，不是精神鸦片那个，而是： 在税收上游戏行业应该向传统行业适度看齐 内容指出： 游戏产业现在已发展壮大，政府就没有必要再继续给予产业扶持，相反的， 游戏企业应承担更多的社会责任，在税收上回馈社会。对此，游戏产业应该做好心理准备。 不仅如此，近日又有媒体传闻： 某互联网企业向投资者透露其部分业务将不再被视为重点软件企业，从而不再享受 10% 的税收优惠政策。 税收优惠政策调整或将对所有互联网企业产生影响。 可能大家不知道这个事情有多严重。 根据国内现有税收政策，法定企业所得税税率为 25%，但经认定为高新技术的享受 15% 的优惠税率；而被积极引导发展的互联网企业可以享受 10% 的优惠税率，像腾讯和阿里这样的大公司，甚至可以做到 8% 的税率。 比如，2020 年： 华为利润 646 亿，纳税 1010 亿； 腾讯利润 1598 亿，纳税仅 200 多亿； 阿里利润 1493 亿，纳税仅 366 亿。 这就是为什么腾讯阿里的利润比华为多近 1000 亿，纳税却只有华为的 1/4 的原因之一。但现在风向变化，腾讯和阿里如果被排除在优惠税率之外，税率要达到 15%，甚至 20% 以上，总之苦日子要来了！ 这对于互联网企业，是一笔不小的支出，从大方向来看，因为产业转型需要，国家重点扶持的是硬件和","text":"腾讯这家公司有一个非常牛的数据，就是历史上，几乎每次大规模回购，股价都能在 1 个月内起稳，而后创出历史新高： 与此同时，腾讯的估值也创下了历史新低： 所以，很多人狂欢：回购 + 不到 20PE 的腾讯，就是送钱！是时候满仓抄底了！ 人在盲目乐观的时候，就容易干出一些不理性的事情，所以我需要给大家泼盆冷水，冷静一下。 一、先说回购 这次回购只有 7696 万港币，这点钱还没有腾讯半天赚得多，所以意义大于实际。后面仍要继续听其言观其行。 二、再说估值 在 8 月初，证券时报发表了一篇文章，不是精神鸦片那个，而是： 在税收上游戏行业应该向传统行业适度看齐 内容指出： 游戏产业现在已发展壮大，政府就没有必要再继续给予产业扶持，相反的， 游戏企业应承担更多的社会责任，在税收上回馈社会。对此，游戏产业应该做好心理准备。 不仅如此，近日又有媒体传闻： 某互联网企业向投资者透露其部分业务将不再被视为重点软件企业，从而不再享受 10% 的税收优惠政策。 税收优惠政策调整或将对所有互联网企业产生影响。 可能大家不知道这个事情有多严重。 根据国内现有税收政策，法定企业所得税税率为 25%，但经认定为高新技术的享受 15% 的优惠税率；而被积极引导发展的互联网企业可以享受 10% 的优惠税率，像腾讯和阿里这样的大公司，甚至可以做到 8% 的税率。 比如，2020 年： 华为利润 646 亿，纳税 1010 亿； 腾讯利润 1598 亿，纳税仅 200 多亿； 阿里利润 1493 亿，纳税仅 366 亿。 这就是为什么腾讯阿里的利润比华为多近 1000 亿，纳税却只有华为的 1/4 的原因之一。但现在风向变化，腾讯和阿里如果被排除在优惠税率之外，税率要达到 15%，甚至 20% 以上，总之苦日子要来了！ 这对于互联网企业，是一笔不小的支出，从大方向来看，因为产业转型需要，国家重点扶持的是硬件和","images":[{"img":"https://static.tigerbbs.com/291deabce95b9ead027cc6f6db654a36","width":"644","height":"211"},{"img":"https://static.tigerbbs.com/6eae949f67842bd4ada19db2518ed5d4","width":"952","height":"515"},{"img":"https://static.tigerbbs.com/b0d724ac39730ee2ddb1d6323d8c508d","width":"1041","height":"295"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/837381708","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":6,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1944,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":805263930,"gmtCreate":1627884262720,"gmtModify":1631891074153,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Dnt trick retailers to sell valuable stocks.&nbsp;","listText":"Dnt trick retailers to sell valuable stocks.&nbsp;","text":"Dnt trick retailers to sell valuable stocks.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805263930","repostId":"1130492644","repostType":2,"repost":{"id":"1130492644","kind":"news","pubTimestamp":1627867792,"share":"https://www.laohu8.com/m/news/1130492644?lang=zh_CN&edition=full","pubTime":"2021-08-02 09:29","market":"us","language":"en","title":"Apple: Take Your Profits Now, Come Back Later<blockquote>苹果：现在获利了结，稍后再回来</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130492644","media":"seekingalpha","summary":"Summary\n\nDividend Yield Theory is a great indicator of overvalued and undervalued shares for healthy","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Dividend Yield Theory is a great indicator of overvalued and undervalued shares for healthy companies.</li>  <li>Apple’s current high growth is temporary.</li>  <li>Apple is on its way to becoming a dividend aristocrat.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e45c69c559fb64f9cda12fb93f34c0d\" tg-width=\"1536\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"><span>Christopher Jue/Getty Images Entertainment</span></p><p><blockquote><ul><li>股息收益率理论是健康公司股票高估和低估的重要指标。</li><li>苹果目前的高增长是暂时的。</li><li>苹果正在成为股息贵族。</li></ul><p class=\"t-img-caption\"><span>克里斯托弗·觉/盖蒂图片社娱乐公司</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Investors are treating Apple (AAPL) as if it has found a second growth spurt. In reality Apple is now a fully grown cash cow, not a young budding calf. The pandemic made many companies transition to the internet faster than they wanted to. That is good for Apple but because it was already a mature business prior to the pandemic it will revert to its normal pre-pandemic growth rates.</p><p><blockquote>投资者对待苹果（AAPL）就好像它已经找到了第二次增长。事实上，苹果现在是一头成熟的摇钱树，而不是一头初露头角的小牛。疫情让许多公司比他们希望的更快地过渡到互联网。这对苹果来说是件好事，但由于它在大流行之前就已经是一家成熟的企业，因此它将恢复到大流行前的正常增长率。</blockquote></p><p> Apple’s 5 year average dividend yield from 2016 to 2020 is 1.46% currently the dividend yield on Apple is 0.68%. Apple has been paying a dividend for almost 10 years and the average is also pointing to a yield of ~1.4%. In order for Apple to offer such a yield, share prices would have to move down toward range of $75-$85. Now is the time to take your Apple profits before it reverts to the mean.</p><p><blockquote>苹果2016年至2020年的5年平均股息率为1.46%，目前苹果的股息率为0.68%。苹果已支付股息近10年，平均收益率约为1.4%。为了让苹果提供这样的收益率，股价必须下跌至75美元至85美元的范围。现在是时候在苹果利润恢复到均值之前获利了结了。</blockquote></p><p> <b>Why Apple Is Overvalued, Dividend Yield Theory</b></p><p><blockquote><b>为什么苹果被高估，股息收益率理论</b></blockquote></p><p> Dividend Yield Theory was popularized by Investment Quality Trends founder Geraldine Weiss through a book titled Dividends Don’t Lie. The essence of Dividend Yield Theory is that high quality companies tend to have a “normal” yield and as the market falls in love or out of love with the company the dividend yield fluctuates to create buy and sell opportunities.</p><p><blockquote>股息收益率理论是由投资质量趋势创始人杰拉尔丁·韦斯通过一本名为《股息不要说谎》的书推广的。股息收益率理论的本质是，高质量的公司往往具有“正常”的收益率，随着市场爱上或不爱上该公司，股息收益率会波动以创造买卖机会。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a469d363e933b84759428285f957590\" tg-width=\"640\" tg-height=\"278\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alphadividend yield</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法股息收益率</span></p></blockquote></p><p> Here we have Apple’s Dividend Yield History. Looking at the average yield column you can see that Apple’s current average yield is the lowest since Apple first started paying a dividend. This indicates Apple is a screaming sell. On the flip side, the last time Apple’s average yield was above 2% was in 2016. At that time Apple was a screaming buy. Coincidentally that was the same year Berkshire Hathaway (BRK.A) began buying Apple shares.</p><p><blockquote>这里我们有苹果的股息收益率历史。查看平均收益率栏可以看到，苹果目前的平均收益率是自苹果首次开始支付股息以来的最低水平。这表明苹果是一个尖叫出售。另一方面，苹果平均收益率上一次高于2%是在2016年。当时，苹果是一个令人尖叫的买家。巧合的是，同年Berkshire Hathaway(BRK.A)开始购买苹果股票。</blockquote></p><p> The reason this works is because the dividend yield is a product of the share price. Looking at the chart above you can see the dividend yield shrank from 2016 through 2018 which indicates the share price of Apple increased.</p><p><blockquote>之所以有效，是因为股息收益率是股价的乘积。看上图，你可以看到2016年到2018年股息收益率下降，这表明苹果的股价上涨。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/991e5d3137bf5ac3c9bc4aaf26c01581\" tg-width=\"640\" tg-height=\"320\" width=\"100%\" height=\"auto\"><span>Source: Yahoo Finance, Apple Share price from 01/01/2016 - 12/31/2018</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：雅虎财经，2016年1月1日至2018年12月31日苹果股价</span></p></blockquote></p><p> That is exactly what happened. At the peak of 2018 Apple’s dividend yield was 1.28%. At this time, Apple’s 5-year yield average was 1.86%. When 2018 ended Apple’s dividend yield was 1.97%. As you can now see, a company’s dividend yield can be a good proxy for value.</p><p><blockquote>这正是发生的事情。2018年峰值时，苹果的股息收益率为1.28%。此时，苹果5年期收益率平均值为1.86%。2018年底，苹果的股息收益率为1.97%。正如您现在所看到的，公司的股息收益率可以很好地代表价值。</blockquote></p><p> <b>This Time Is not different</b></p><p><blockquote><b>这次也不例外</b></blockquote></p><p> I know some of you at this point are thinking, well, Dividend Yield Theory is nice and all but thanks to Covid this time is different. I don’t believe this time is different for Apple and the reason is because of Apple’s maturity as a business prior to the pandemic.</p><p><blockquote>我知道你们中的一些人现在在想，股息收益率理论很好，但多亏了新冠疫情，这次不同了。我不认为这一次对苹果来说有什么不同，原因是因为苹果在大流行之前就已经成熟了。</blockquote></p><p> It is true that Apple and many other tech companies are benefiting from the pandemic, but Apple has a significant difference from a Shopify, a Zoom, and a Disney Plus. Namely Apple had already largely penetrated its total addressable market. Prior to the pandemic, most of us had never heard of Zoom. We started working from home and needed a solution for remote communication, and bam Zoom capitalizes. Prior to the pandemic, the iPhone was still the smartphone to beat, the smartphone with tens of millions of users, the must-have status symbol in places as far away as China. I spent a semester abroad in China in 2012. During that time, my professors told us how important status symbols are to the Chinese. Students of all ages would not go to school until their parents had bought them an iPhone because without it they would lose “face”. Many could not afford the phone plans and I and my friends witnessed many people having an iPhone just for show. That was in 2012, 8 years before the pandemic.</p><p><blockquote>诚然，苹果和许多其他科技公司都从疫情中受益，但苹果与Shopify、Zoom和Disney Plus有很大不同。也就是说，苹果已经在很大程度上渗透了其整个目标市场。在疫情之前，我们大多数人从未听说过Zoom。我们开始在家工作，需要一个远程通信的解决方案，bam Zoom利用了这一点。在疫情之前，iPhone仍然是值得击败的智能手机，拥有数千万用户的智能手机，是远至中国的必备身份象征。2012年我在中国留学了一个学期。那段时间，我的教授告诉我们，身份象征对中国人有多重要。所有年龄段的学生在父母给他们买iPhone之前都不会去上学，因为没有它他们会丢脸。许多人负担不起电话套餐，我和我的朋友目睹了许多人拥有iPhone只是为了炫耀。那是在2012年，比疫情大流行早了8年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9ae87be3f096ac0a13d2e38634b8c34c\" tg-width=\"640\" tg-height=\"310\" width=\"100%\" height=\"auto\"><span>Source: Apple Q3 2021*covers Apr – Jun 2021*</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：苹果2021年第三季度*涵盖2021年4月至6月*</span></p></blockquote></p><p> As we can see, the majority of Apple’s revenue comes from products. Further down products are identified as the iPhone, Mac, iPad, Wearables, Home &amp; Accessories.</p><p><blockquote>正如我们所看到的，苹果的大部分收入来自产品。进一步向下的产品被确定为iPhone、Mac、iPad、可穿戴设备、家居和配件。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3ef98109e802b72a60990d870e23814d\" tg-width=\"640\" tg-height=\"114\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p><p> Again the iPhone makes up the majority. The high growth rate in iPhone sales also backs up the theory that this round of growth is due to the Apple super cycle which seems to take place once every 3 years.</p><p><blockquote>iPhone再次占据了大多数。iPhone销量的高增长率也支持了这一轮增长是由于似乎每3年发生一次的苹果超级周期的理论。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b71f026725256789694ea1ff46574c4a\" tg-width=\"393\" tg-height=\"256\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha Financials, compiled by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Seeking Alpha Financials，作者编译</span></p></blockquote></p><p> The pattern for the last 10 years has been 1 year of stellar growth followed by 2 years of much slower growth. As you can see this results in a 10-year CAGR of ~10% - 13% depending on where we are in the cycle.</p><p><blockquote>过去10年的模式是1年的强劲增长，随后是2年的缓慢增长。正如您所看到的，这导致10年复合年增长率约为10%-13%，具体取决于我们在周期中所处的位置。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a62395de39d598a2d5fb553eca56086d\" tg-width=\"640\" tg-height=\"516\" width=\"100%\" height=\"auto\"><span>Source: Apple2017 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Apple2017 10-K</span></p></blockquote></p><p> Here we see the 2015 super cycle followed by the growth declines in 2016 and 2017.</p><p><blockquote>在这里，我们看到了2015年的超级周期，随后是2016年和2017年的增长下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e63c1a8fd16ae504ee3794c0eff4198\" tg-width=\"640\" tg-height=\"535\" width=\"100%\" height=\"auto\"><span>Source: Apple2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Apple2020 10-K</span></p></blockquote></p><p> Again it happened in the more recent super cycle of 2018 followed by declines in growth for years 2019 and 2020.</p><p><blockquote>这种情况再次发生在最近的2018年超级周期中，随后是2019年和2020年的增长下降。</blockquote></p><p> When we look into the revenue by product for these periods, we can see that iPhone sales decline and the other categories are unable to make up for the loss of revenue the next year. In the following year, 2017 and 2020, other sources of revenue increased enough for Apple’s total revenue to increase.</p><p><blockquote>当我们按产品查看这些时期的收入时，我们可以看到iPhone销量下降，其他类别无法弥补第二年的收入损失。在接下来的一年，2017年和2020年，其他收入来源的增长足以让苹果的总收入增加。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2e3954b0d588d038dc2dd5e88c39c5ec\" tg-width=\"640\" tg-height=\"131\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Patterns are likely to repeat until something happens to change them. I don't see such a catalyst on the horizon, and currently iPhone sales are again carrying Apple’s revenue to record levels. iPhone sales seem to be selling so well because of the coming transition to 5G and many iPhone owners have a device that is at least 3 years old.</p><p><blockquote>模式很可能会重复，直到发生改变它们的事情。我没有看到这样的催化剂，目前iPhone的销量再次将苹果的收入带到创纪录的水平。iPhone的销售似乎卖得很好，因为即将向5G过渡，许多iPhone用户的设备至少有3年的历史。</blockquote></p><p> The iPhone 12 was unveiled and released in October 2020. This means the super cycle is expected to end with the iPhone 13 which is expected to come out in September or October. I believe this indicates FY 2022 will be a rough year for Apple shareholders.</p><p><blockquote>iPhone 12于2020年10月亮相并发布。这意味着超级周期预计将随着预计在9月或10月推出的iPhone 13而结束。我相信这表明2022财年对于苹果股东来说将是艰难的一年。</blockquote></p><p> <b>Apple’s Third And Final Act - A Cash Cow</b></p><p><blockquote><b>苹果的第三幕也是最后一幕——摇钱树</b></blockquote></p><p> Investors need to pay attention to Apple’s future as a dividend aristocrat. Apple is transitioning toward more service based revenues. This is a higher margin business but there is less explosive innovation, meaning growth will decline.</p><p><blockquote>投资者需要关注苹果作为股息贵族的未来。苹果正在向更多基于服务的收入转型。这是一项利润率较高的业务，但爆炸性创新较少，这意味着增长将会下降。</blockquote></p><p> At the current share price, investors are “locking in” a targeted return of 9% over the next 10 years based on some optimistic assumptions.</p><p><blockquote>按照目前的股价，投资者基于一些乐观的假设，“锁定”了未来10年9%的目标回报率。</blockquote></p><p> <ul>  <li>Growth of 19.3% for the first 5 years followed by 12% growth for the second five years.</li>  <li>An expected dividend growth rate of 17.5%</li>  <li>Apple reverts to their historic P/E of 21.</li> </ul> All of that together means Apple’s share price in 10 years will be $293.47 and the dividend will be at $4.43 a share giving existing shareholders a yield of 1.5% which is much closer to their current 5-year average yield.</p><p><blockquote><ul><li>前5年增长19.3%，第二个5年增长12%。</li><li>预期股息增长率为17.5%</li><li>苹果恢复到21的历史市盈率。</li></ul>所有这些加在一起意味着苹果10年后的股价将为293.47美元，股息将为每股4.43美元，现有股东的收益率为1.5%，更接近他们当前的5年平均收益率。</blockquote></p><p> Apple’s dividend payout ratio is currently 15.86%. Other companies in the IT sector like Texas Instruments (TXN), and Intuit (INTU) have a payout ratio of 51% and 25% respectively which shows Apple’s dividends will be much higher in the coming years. With a projected EPS of $14 in 2031 a 51% payout would mean a dividend of $7/sh.</p><p><blockquote>苹果目前的股息支付率为15.86%。德州仪器(TXN)和Intuit(INTU)等IT行业的其他公司的派息率分别为51%和25%，这表明苹果未来几年的股息将高得多。预计2031年每股收益为14美元，51%的派息意味着每股7美元的股息。</blockquote></p><p> <b>Risk and Opportunity, The Dividend increase</b></p><p><blockquote><b>风险与机遇，股息增加</b></blockquote></p><p> Based on the 5 year average dividend yield and the current rate of dividend increases, it is likely the dividend will be increased to $1.03-$1.14. In order for Apple to maintain its historic yield at the projected future dividend, Apple shares would have to trade around $80. it is possible that Apple pays up and raises their dividend to $1.89. Apple spent $14 billion on their dividend in 2020 and raising it to $1.89 will increase the price tag to $31 billion. This would increase their payout ratio to 34% which is a typical payout ratio for cash cow companies.</p><p><blockquote>根据5年平均股息收益率和当前股息增长率，股息可能会增加至1.03-1.14美元。为了让苹果在预计的未来股息中维持其历史收益率，苹果股价必须在80美元左右。苹果有可能支付并将股息提高至1.89美元。苹果在2020年的股息上花费了140亿美元，将股息提高到1.89美元将使股价达到310亿美元。这将使他们的派息率提高到34%，这是现金牛公司的典型派息率。</blockquote></p><p> The expected dividend I project is based on the percentage of operating cash flow the dividend takes up. Over the last 3 years, it has ranged from 15% to 18%. I used an estimated $100.15 billion for operating cash flows and at 19% you get the $1.14 dividend.</p><p><blockquote>预期股息I项目基于股息占经营现金流的百分比。在过去的3年里，这一比例从15%到18%不等。我估计使用了1001.5亿美元的运营现金流，按19%计算，您将获得1.14美元的股息。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/153079186d84770e064411e34a42745e\" tg-width=\"304\" tg-height=\"74\" width=\"100%\" height=\"auto\"><span>Source: Seeking AlphaCash Flow Statement</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha现金流量表</span></p></blockquote></p><p> Lastly it is possible that a dividend yield of less than 1% becomes the norm for Apple. If the current 2021 yield average of 0.63% becomes the new normal, Apple’s share price should rise to $163.49 - $180.95 based on my projected dividend increase.</p><p><blockquote>最后，低于1%的股息收益率有可能成为苹果的常态。如果目前2021年0.63%的平均收益率成为新常态，根据我预计的股息增长，苹果的股价应该会上涨至163.49美元至180.95美元。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p></p><p> Sell Apple, take your profits now. The super cycle will end. Come back later and buy Apple at a discount when the dividend yield is higher.</p><p><blockquote>卖出苹果，立即获利了结。超级周期将结束。稍后再来，等股息收益率较高时折价买入苹果。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple: Take Your Profits Now, Come Back Later<blockquote>苹果：现在获利了结，稍后再回来</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple: Take Your Profits Now, Come Back Later<blockquote>苹果：现在获利了结，稍后再回来</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-02 09:29</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>Dividend Yield Theory is a great indicator of overvalued and undervalued shares for healthy companies.</li>  <li>Apple’s current high growth is temporary.</li>  <li>Apple is on its way to becoming a dividend aristocrat.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e45c69c559fb64f9cda12fb93f34c0d\" tg-width=\"1536\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"><span>Christopher Jue/Getty Images Entertainment</span></p><p><blockquote><ul><li>股息收益率理论是健康公司股票高估和低估的重要指标。</li><li>苹果目前的高增长是暂时的。</li><li>苹果正在成为股息贵族。</li></ul><p class=\"t-img-caption\"><span>克里斯托弗·觉/盖蒂图片社娱乐公司</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Investors are treating Apple (AAPL) as if it has found a second growth spurt. In reality Apple is now a fully grown cash cow, not a young budding calf. The pandemic made many companies transition to the internet faster than they wanted to. That is good for Apple but because it was already a mature business prior to the pandemic it will revert to its normal pre-pandemic growth rates.</p><p><blockquote>投资者对待苹果（AAPL）就好像它已经找到了第二次增长。事实上，苹果现在是一头成熟的摇钱树，而不是一头初露头角的小牛。疫情让许多公司比他们希望的更快地过渡到互联网。这对苹果来说是件好事，但由于它在大流行之前就已经是一家成熟的企业，因此它将恢复到大流行前的正常增长率。</blockquote></p><p> Apple’s 5 year average dividend yield from 2016 to 2020 is 1.46% currently the dividend yield on Apple is 0.68%. Apple has been paying a dividend for almost 10 years and the average is also pointing to a yield of ~1.4%. In order for Apple to offer such a yield, share prices would have to move down toward range of $75-$85. Now is the time to take your Apple profits before it reverts to the mean.</p><p><blockquote>苹果2016年至2020年的5年平均股息率为1.46%，目前苹果的股息率为0.68%。苹果已支付股息近10年，平均收益率约为1.4%。为了让苹果提供这样的收益率，股价必须下跌至75美元至85美元的范围。现在是时候在苹果利润恢复到均值之前获利了结了。</blockquote></p><p> <b>Why Apple Is Overvalued, Dividend Yield Theory</b></p><p><blockquote><b>为什么苹果被高估，股息收益率理论</b></blockquote></p><p> Dividend Yield Theory was popularized by Investment Quality Trends founder Geraldine Weiss through a book titled Dividends Don’t Lie. The essence of Dividend Yield Theory is that high quality companies tend to have a “normal” yield and as the market falls in love or out of love with the company the dividend yield fluctuates to create buy and sell opportunities.</p><p><blockquote>股息收益率理论是由投资质量趋势创始人杰拉尔丁·韦斯通过一本名为《股息不要说谎》的书推广的。股息收益率理论的本质是，高质量的公司往往具有“正常”的收益率，随着市场爱上或不爱上该公司，股息收益率会波动以创造买卖机会。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a469d363e933b84759428285f957590\" tg-width=\"640\" tg-height=\"278\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alphadividend yield</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法股息收益率</span></p></blockquote></p><p> Here we have Apple’s Dividend Yield History. Looking at the average yield column you can see that Apple’s current average yield is the lowest since Apple first started paying a dividend. This indicates Apple is a screaming sell. On the flip side, the last time Apple’s average yield was above 2% was in 2016. At that time Apple was a screaming buy. Coincidentally that was the same year Berkshire Hathaway (BRK.A) began buying Apple shares.</p><p><blockquote>这里我们有苹果的股息收益率历史。查看平均收益率栏可以看到，苹果目前的平均收益率是自苹果首次开始支付股息以来的最低水平。这表明苹果是一个尖叫出售。另一方面，苹果平均收益率上一次高于2%是在2016年。当时，苹果是一个令人尖叫的买家。巧合的是，同年Berkshire Hathaway(BRK.A)开始购买苹果股票。</blockquote></p><p> The reason this works is because the dividend yield is a product of the share price. Looking at the chart above you can see the dividend yield shrank from 2016 through 2018 which indicates the share price of Apple increased.</p><p><blockquote>之所以有效，是因为股息收益率是股价的乘积。看上图，你可以看到2016年到2018年股息收益率下降，这表明苹果的股价上涨。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/991e5d3137bf5ac3c9bc4aaf26c01581\" tg-width=\"640\" tg-height=\"320\" width=\"100%\" height=\"auto\"><span>Source: Yahoo Finance, Apple Share price from 01/01/2016 - 12/31/2018</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：雅虎财经，2016年1月1日至2018年12月31日苹果股价</span></p></blockquote></p><p> That is exactly what happened. At the peak of 2018 Apple’s dividend yield was 1.28%. At this time, Apple’s 5-year yield average was 1.86%. When 2018 ended Apple’s dividend yield was 1.97%. As you can now see, a company’s dividend yield can be a good proxy for value.</p><p><blockquote>这正是发生的事情。2018年峰值时，苹果的股息收益率为1.28%。此时，苹果5年期收益率平均值为1.86%。2018年底，苹果的股息收益率为1.97%。正如您现在所看到的，公司的股息收益率可以很好地代表价值。</blockquote></p><p> <b>This Time Is not different</b></p><p><blockquote><b>这次也不例外</b></blockquote></p><p> I know some of you at this point are thinking, well, Dividend Yield Theory is nice and all but thanks to Covid this time is different. I don’t believe this time is different for Apple and the reason is because of Apple’s maturity as a business prior to the pandemic.</p><p><blockquote>我知道你们中的一些人现在在想，股息收益率理论很好，但多亏了新冠疫情，这次不同了。我不认为这一次对苹果来说有什么不同，原因是因为苹果在大流行之前就已经成熟了。</blockquote></p><p> It is true that Apple and many other tech companies are benefiting from the pandemic, but Apple has a significant difference from a Shopify, a Zoom, and a Disney Plus. Namely Apple had already largely penetrated its total addressable market. Prior to the pandemic, most of us had never heard of Zoom. We started working from home and needed a solution for remote communication, and bam Zoom capitalizes. Prior to the pandemic, the iPhone was still the smartphone to beat, the smartphone with tens of millions of users, the must-have status symbol in places as far away as China. I spent a semester abroad in China in 2012. During that time, my professors told us how important status symbols are to the Chinese. Students of all ages would not go to school until their parents had bought them an iPhone because without it they would lose “face”. Many could not afford the phone plans and I and my friends witnessed many people having an iPhone just for show. That was in 2012, 8 years before the pandemic.</p><p><blockquote>诚然，苹果和许多其他科技公司都从疫情中受益，但苹果与Shopify、Zoom和Disney Plus有很大不同。也就是说，苹果已经在很大程度上渗透了其整个目标市场。在疫情之前，我们大多数人从未听说过Zoom。我们开始在家工作，需要一个远程通信的解决方案，bam Zoom利用了这一点。在疫情之前，iPhone仍然是值得击败的智能手机，拥有数千万用户的智能手机，是远至中国的必备身份象征。2012年我在中国留学了一个学期。那段时间，我的教授告诉我们，身份象征对中国人有多重要。所有年龄段的学生在父母给他们买iPhone之前都不会去上学，因为没有它他们会丢脸。许多人负担不起电话套餐，我和我的朋友目睹了许多人拥有iPhone只是为了炫耀。那是在2012年，比疫情大流行早了8年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9ae87be3f096ac0a13d2e38634b8c34c\" tg-width=\"640\" tg-height=\"310\" width=\"100%\" height=\"auto\"><span>Source: Apple Q3 2021*covers Apr – Jun 2021*</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：苹果2021年第三季度*涵盖2021年4月至6月*</span></p></blockquote></p><p> As we can see, the majority of Apple’s revenue comes from products. Further down products are identified as the iPhone, Mac, iPad, Wearables, Home &amp; Accessories.</p><p><blockquote>正如我们所看到的，苹果的大部分收入来自产品。进一步向下的产品被确定为iPhone、Mac、iPad、可穿戴设备、家居和配件。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3ef98109e802b72a60990d870e23814d\" tg-width=\"640\" tg-height=\"114\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p><p> Again the iPhone makes up the majority. The high growth rate in iPhone sales also backs up the theory that this round of growth is due to the Apple super cycle which seems to take place once every 3 years.</p><p><blockquote>iPhone再次占据了大多数。iPhone销量的高增长率也支持了这一轮增长是由于似乎每3年发生一次的苹果超级周期的理论。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b71f026725256789694ea1ff46574c4a\" tg-width=\"393\" tg-height=\"256\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha Financials, compiled by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Seeking Alpha Financials，作者编译</span></p></blockquote></p><p> The pattern for the last 10 years has been 1 year of stellar growth followed by 2 years of much slower growth. As you can see this results in a 10-year CAGR of ~10% - 13% depending on where we are in the cycle.</p><p><blockquote>过去10年的模式是1年的强劲增长，随后是2年的缓慢增长。正如您所看到的，这导致10年复合年增长率约为10%-13%，具体取决于我们在周期中所处的位置。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a62395de39d598a2d5fb553eca56086d\" tg-width=\"640\" tg-height=\"516\" width=\"100%\" height=\"auto\"><span>Source: Apple2017 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Apple2017 10-K</span></p></blockquote></p><p> Here we see the 2015 super cycle followed by the growth declines in 2016 and 2017.</p><p><blockquote>在这里，我们看到了2015年的超级周期，随后是2016年和2017年的增长下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e63c1a8fd16ae504ee3794c0eff4198\" tg-width=\"640\" tg-height=\"535\" width=\"100%\" height=\"auto\"><span>Source: Apple2020 10-K</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Apple2020 10-K</span></p></blockquote></p><p> Again it happened in the more recent super cycle of 2018 followed by declines in growth for years 2019 and 2020.</p><p><blockquote>这种情况再次发生在最近的2018年超级周期中，随后是2019年和2020年的增长下降。</blockquote></p><p> When we look into the revenue by product for these periods, we can see that iPhone sales decline and the other categories are unable to make up for the loss of revenue the next year. In the following year, 2017 and 2020, other sources of revenue increased enough for Apple’s total revenue to increase.</p><p><blockquote>当我们按产品查看这些时期的收入时，我们可以看到iPhone销量下降，其他类别无法弥补第二年的收入损失。在接下来的一年，2017年和2020年，其他收入来源的增长足以让苹果的总收入增加。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2e3954b0d588d038dc2dd5e88c39c5ec\" tg-width=\"640\" tg-height=\"131\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Patterns are likely to repeat until something happens to change them. I don't see such a catalyst on the horizon, and currently iPhone sales are again carrying Apple’s revenue to record levels. iPhone sales seem to be selling so well because of the coming transition to 5G and many iPhone owners have a device that is at least 3 years old.</p><p><blockquote>模式很可能会重复，直到发生改变它们的事情。我没有看到这样的催化剂，目前iPhone的销量再次将苹果的收入带到创纪录的水平。iPhone的销售似乎卖得很好，因为即将向5G过渡，许多iPhone用户的设备至少有3年的历史。</blockquote></p><p> The iPhone 12 was unveiled and released in October 2020. This means the super cycle is expected to end with the iPhone 13 which is expected to come out in September or October. I believe this indicates FY 2022 will be a rough year for Apple shareholders.</p><p><blockquote>iPhone 12于2020年10月亮相并发布。这意味着超级周期预计将随着预计在9月或10月推出的iPhone 13而结束。我相信这表明2022财年对于苹果股东来说将是艰难的一年。</blockquote></p><p> <b>Apple’s Third And Final Act - A Cash Cow</b></p><p><blockquote><b>苹果的第三幕也是最后一幕——摇钱树</b></blockquote></p><p> Investors need to pay attention to Apple’s future as a dividend aristocrat. Apple is transitioning toward more service based revenues. This is a higher margin business but there is less explosive innovation, meaning growth will decline.</p><p><blockquote>投资者需要关注苹果作为股息贵族的未来。苹果正在向更多基于服务的收入转型。这是一项利润率较高的业务，但爆炸性创新较少，这意味着增长将会下降。</blockquote></p><p> At the current share price, investors are “locking in” a targeted return of 9% over the next 10 years based on some optimistic assumptions.</p><p><blockquote>按照目前的股价，投资者基于一些乐观的假设，“锁定”了未来10年9%的目标回报率。</blockquote></p><p> <ul>  <li>Growth of 19.3% for the first 5 years followed by 12% growth for the second five years.</li>  <li>An expected dividend growth rate of 17.5%</li>  <li>Apple reverts to their historic P/E of 21.</li> </ul> All of that together means Apple’s share price in 10 years will be $293.47 and the dividend will be at $4.43 a share giving existing shareholders a yield of 1.5% which is much closer to their current 5-year average yield.</p><p><blockquote><ul><li>前5年增长19.3%，第二个5年增长12%。</li><li>预期股息增长率为17.5%</li><li>苹果恢复到21的历史市盈率。</li></ul>所有这些加在一起意味着苹果10年后的股价将为293.47美元，股息将为每股4.43美元，现有股东的收益率为1.5%，更接近他们当前的5年平均收益率。</blockquote></p><p> Apple’s dividend payout ratio is currently 15.86%. Other companies in the IT sector like Texas Instruments (TXN), and Intuit (INTU) have a payout ratio of 51% and 25% respectively which shows Apple’s dividends will be much higher in the coming years. With a projected EPS of $14 in 2031 a 51% payout would mean a dividend of $7/sh.</p><p><blockquote>苹果目前的股息支付率为15.86%。德州仪器(TXN)和Intuit(INTU)等IT行业的其他公司的派息率分别为51%和25%，这表明苹果未来几年的股息将高得多。预计2031年每股收益为14美元，51%的派息意味着每股7美元的股息。</blockquote></p><p> <b>Risk and Opportunity, The Dividend increase</b></p><p><blockquote><b>风险与机遇，股息增加</b></blockquote></p><p> Based on the 5 year average dividend yield and the current rate of dividend increases, it is likely the dividend will be increased to $1.03-$1.14. In order for Apple to maintain its historic yield at the projected future dividend, Apple shares would have to trade around $80. it is possible that Apple pays up and raises their dividend to $1.89. Apple spent $14 billion on their dividend in 2020 and raising it to $1.89 will increase the price tag to $31 billion. This would increase their payout ratio to 34% which is a typical payout ratio for cash cow companies.</p><p><blockquote>根据5年平均股息收益率和当前股息增长率，股息可能会增加至1.03-1.14美元。为了让苹果在预计的未来股息中维持其历史收益率，苹果股价必须在80美元左右。苹果有可能支付并将股息提高至1.89美元。苹果在2020年的股息上花费了140亿美元，将股息提高到1.89美元将使股价达到310亿美元。这将使他们的派息率提高到34%，这是现金牛公司的典型派息率。</blockquote></p><p> The expected dividend I project is based on the percentage of operating cash flow the dividend takes up. Over the last 3 years, it has ranged from 15% to 18%. I used an estimated $100.15 billion for operating cash flows and at 19% you get the $1.14 dividend.</p><p><blockquote>预期股息I项目基于股息占经营现金流的百分比。在过去的3年里，这一比例从15%到18%不等。我估计使用了1001.5亿美元的运营现金流，按19%计算，您将获得1.14美元的股息。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/153079186d84770e064411e34a42745e\" tg-width=\"304\" tg-height=\"74\" width=\"100%\" height=\"auto\"><span>Source: Seeking AlphaCash Flow Statement</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha现金流量表</span></p></blockquote></p><p> Lastly it is possible that a dividend yield of less than 1% becomes the norm for Apple. If the current 2021 yield average of 0.63% becomes the new normal, Apple’s share price should rise to $163.49 - $180.95 based on my projected dividend increase.</p><p><blockquote>最后，低于1%的股息收益率有可能成为苹果的常态。如果目前2021年0.63%的平均收益率成为新常态，根据我预计的股息增长，苹果的股价应该会上涨至163.49美元至180.95美元。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p></p><p> Sell Apple, take your profits now. The super cycle will end. Come back later and buy Apple at a discount when the dividend yield is higher.</p><p><blockquote>卖出苹果，立即获利了结。超级周期将结束。稍后再来，等股息收益率较高时折价买入苹果。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4443676-apple-take-your-profits-before-its-too-late\">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":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4443676-apple-take-your-profits-before-its-too-late","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130492644","content_text":"Summary\n\nDividend Yield Theory is a great indicator of overvalued and undervalued shares for healthy companies.\nApple’s current high growth is temporary.\nApple is on its way to becoming a dividend aristocrat.\n\nChristopher Jue/Getty Images Entertainment\nInvestment Thesis\nInvestors are treating Apple (AAPL) as if it has found a second growth spurt. In reality Apple is now a fully grown cash cow, not a young budding calf. The pandemic made many companies transition to the internet faster than they wanted to. That is good for Apple but because it was already a mature business prior to the pandemic it will revert to its normal pre-pandemic growth rates.\nApple’s 5 year average dividend yield from 2016 to 2020 is 1.46% currently the dividend yield on Apple is 0.68%. Apple has been paying a dividend for almost 10 years and the average is also pointing to a yield of ~1.4%. In order for Apple to offer such a yield, share prices would have to move down toward range of $75-$85. Now is the time to take your Apple profits before it reverts to the mean.\nWhy Apple Is Overvalued, Dividend Yield Theory\nDividend Yield Theory was popularized by Investment Quality Trends founder Geraldine Weiss through a book titled Dividends Don’t Lie. The essence of Dividend Yield Theory is that high quality companies tend to have a “normal” yield and as the market falls in love or out of love with the company the dividend yield fluctuates to create buy and sell opportunities.\nSource: Seeking Alphadividend yield\nHere we have Apple’s Dividend Yield History. Looking at the average yield column you can see that Apple’s current average yield is the lowest since Apple first started paying a dividend. This indicates Apple is a screaming sell. On the flip side, the last time Apple’s average yield was above 2% was in 2016. At that time Apple was a screaming buy. Coincidentally that was the same year Berkshire Hathaway (BRK.A) began buying Apple shares.\nThe reason this works is because the dividend yield is a product of the share price. Looking at the chart above you can see the dividend yield shrank from 2016 through 2018 which indicates the share price of Apple increased.\nSource: Yahoo Finance, Apple Share price from 01/01/2016 - 12/31/2018\nThat is exactly what happened. At the peak of 2018 Apple’s dividend yield was 1.28%. At this time, Apple’s 5-year yield average was 1.86%. When 2018 ended Apple’s dividend yield was 1.97%. As you can now see, a company’s dividend yield can be a good proxy for value.\nThis Time Is not different\nI know some of you at this point are thinking, well, Dividend Yield Theory is nice and all but thanks to Covid this time is different. I don’t believe this time is different for Apple and the reason is because of Apple’s maturity as a business prior to the pandemic.\nIt is true that Apple and many other tech companies are benefiting from the pandemic, but Apple has a significant difference from a Shopify, a Zoom, and a Disney Plus. Namely Apple had already largely penetrated its total addressable market. Prior to the pandemic, most of us had never heard of Zoom. We started working from home and needed a solution for remote communication, and bam Zoom capitalizes. Prior to the pandemic, the iPhone was still the smartphone to beat, the smartphone with tens of millions of users, the must-have status symbol in places as far away as China. I spent a semester abroad in China in 2012. During that time, my professors told us how important status symbols are to the Chinese. Students of all ages would not go to school until their parents had bought them an iPhone because without it they would lose “face”. Many could not afford the phone plans and I and my friends witnessed many people having an iPhone just for show. That was in 2012, 8 years before the pandemic.\nSource: Apple Q3 2021*covers Apr – Jun 2021*\nAs we can see, the majority of Apple’s revenue comes from products. Further down products are identified as the iPhone, Mac, iPad, Wearables, Home & Accessories.\n\nAgain the iPhone makes up the majority. The high growth rate in iPhone sales also backs up the theory that this round of growth is due to the Apple super cycle which seems to take place once every 3 years.\nSource: Seeking Alpha Financials, compiled by author\nThe pattern for the last 10 years has been 1 year of stellar growth followed by 2 years of much slower growth. As you can see this results in a 10-year CAGR of ~10% - 13% depending on where we are in the cycle.\nSource: Apple2017 10-K\nHere we see the 2015 super cycle followed by the growth declines in 2016 and 2017.\nSource: Apple2020 10-K\nAgain it happened in the more recent super cycle of 2018 followed by declines in growth for years 2019 and 2020.\nWhen we look into the revenue by product for these periods, we can see that iPhone sales decline and the other categories are unable to make up for the loss of revenue the next year. In the following year, 2017 and 2020, other sources of revenue increased enough for Apple’s total revenue to increase.\n\nPatterns are likely to repeat until something happens to change them. I don't see such a catalyst on the horizon, and currently iPhone sales are again carrying Apple’s revenue to record levels. iPhone sales seem to be selling so well because of the coming transition to 5G and many iPhone owners have a device that is at least 3 years old.\nThe iPhone 12 was unveiled and released in October 2020. This means the super cycle is expected to end with the iPhone 13 which is expected to come out in September or October. I believe this indicates FY 2022 will be a rough year for Apple shareholders.\nApple’s Third And Final Act - A Cash Cow\nInvestors need to pay attention to Apple’s future as a dividend aristocrat. Apple is transitioning toward more service based revenues. This is a higher margin business but there is less explosive innovation, meaning growth will decline.\nAt the current share price, investors are “locking in” a targeted return of 9% over the next 10 years based on some optimistic assumptions.\n\nGrowth of 19.3% for the first 5 years followed by 12% growth for the second five years.\nAn expected dividend growth rate of 17.5%\nApple reverts to their historic P/E of 21.\n\nAll of that together means Apple’s share price in 10 years will be $293.47 and the dividend will be at $4.43 a share giving existing shareholders a yield of 1.5% which is much closer to their current 5-year average yield.\nApple’s dividend payout ratio is currently 15.86%. Other companies in the IT sector like Texas Instruments (TXN), and Intuit (INTU) have a payout ratio of 51% and 25% respectively which shows Apple’s dividends will be much higher in the coming years. With a projected EPS of $14 in 2031 a 51% payout would mean a dividend of $7/sh.\nRisk and Opportunity, The Dividend increase\nBased on the 5 year average dividend yield and the current rate of dividend increases, it is likely the dividend will be increased to $1.03-$1.14. In order for Apple to maintain its historic yield at the projected future dividend, Apple shares would have to trade around $80. it is possible that Apple pays up and raises their dividend to $1.89. Apple spent $14 billion on their dividend in 2020 and raising it to $1.89 will increase the price tag to $31 billion. This would increase their payout ratio to 34% which is a typical payout ratio for cash cow companies.\nThe expected dividend I project is based on the percentage of operating cash flow the dividend takes up. Over the last 3 years, it has ranged from 15% to 18%. I used an estimated $100.15 billion for operating cash flows and at 19% you get the $1.14 dividend.\nSource: Seeking AlphaCash Flow Statement\nLastly it is possible that a dividend yield of less than 1% becomes the norm for Apple. If the current 2021 yield average of 0.63% becomes the new normal, Apple’s share price should rise to $163.49 - $180.95 based on my projected dividend increase.\nConclusion\nSell Apple, take your profits now. The super cycle will end. Come back later and buy Apple at a discount when the dividend yield is higher.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808654275,"gmtCreate":1627576734097,"gmtModify":1631891074142,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>守得云开[捂脸]&nbsp;","listText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>守得云开[捂脸]&nbsp;","text":"$AMD(AMD)$守得云开[捂脸]","images":[{"img":"https://static.tigerbbs.com/f428f8b2ef7ee35f032781b08c97bf2d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808654275","isVote":1,"tweetType":1,"viewCount":1197,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":851057809,"gmtCreate":1634860981183,"gmtModify":1634868029092,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>又到攻顶的时候了[财迷]&nbsp;","listText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>又到攻顶的时候了[财迷]&nbsp;","text":"$AMD(AMD)$又到攻顶的时候了[财迷]","images":[{"img":"https://static.tigerbbs.com/04cd0b28e142d0bf98ad713c9e377672","width":"1080","height":"2520"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851057809","isVote":1,"tweetType":1,"viewCount":2576,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":803580323,"gmtCreate":1627447882962,"gmtModify":1631883895910,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"One of the stock you should have.&nbsp;","listText":"One of the stock you should have.&nbsp;","text":"One of the stock you should have.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803580323","repostId":"803590843","repostType":1,"repost":{"id":803590843,"gmtCreate":1627445932482,"gmtModify":1627471884031,"author":{"id":"21347731130544","authorId":"21347731130544","name":"价值投资为王","avatar":"https://static.tigerbbs.com/89ffffc59ff9ac9cb9cb74f596418d44","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"21347731130544","idStr":"21347731130544"},"themes":[],"title":"AMD二季报：崛起的AMD开始咄咄逼人了！","htmlText":"芯片巨头AMD<a target=\"_blank\" href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>昨夜发布了二季度财报，一如往常，业绩超出市场预期。 在谈及和老对手英特尔的竞争时，AMD首席执行官苏姿丰放言要“为每一个CPU插槽而战”！ 强劲的业绩、先进的产品组合，AMD急不可耐上调了2021年全年营收增速，由之前预期的50%上调至60%。 如果2021年之前的AMD是走在复兴的路上，那之后的AMD将开始咄咄逼人，老对手英特尔恐将左右夹击！ 在利好财报加持之下，AMD盘后股价微涨1%，幅度似乎对不住大超预期的财报，但实际上并不难理解，毕竟财报超预期已经成为AMD的传统！ 量价齐升，AMD净利润暴增352%！ 在二季报发布之前，AMD给出的指引是营收36亿美元，上下浮动1亿美元，毛利率在47%。彭博分析师一致预期的收入在36.13亿。 成绩单揭晓之后，AMD二季度实际营收38.5亿美元，同比增长99.3%，毛利率48%，双双超出预期。 在AMD的营收结构中，分为两类来源，一个是计算与图形业务，包括台式机和笔记本电脑的CPU及GPU销售；另外一个是企业、嵌入式和半定制业务，包括数据中心和游戏机收入。 计算与图形业务二季度实现22.5亿美元营收，同比增长64.6%，远超过往4个季度的增速。 推动营收增长的原因是量价齐升，由于锐龙桌面及笔记本处理器的丰富组合，客户端处理器ASP均价同比、环比都在上涨，高端Radeon显卡均价同样都在增长。 企业、嵌入式和半定制业务二季度实现营收16亿美元，同比大增183%，环比增长19%，增长是由 EPYC处理器收入和半定制产品销售增加推动的。 量价齐升同时带来了盈利能力的爆发，二季度AMD净利润7.1亿美元，同比暴增352%，净利率达到18.4%。 对于二季度业绩，AMD首席执行官苏姿丰表示：“我们的","listText":"芯片巨头AMD<a target=\"_blank\" href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>昨夜发布了二季度财报，一如往常，业绩超出市场预期。 在谈及和老对手英特尔的竞争时，AMD首席执行官苏姿丰放言要“为每一个CPU插槽而战”！ 强劲的业绩、先进的产品组合，AMD急不可耐上调了2021年全年营收增速，由之前预期的50%上调至60%。 如果2021年之前的AMD是走在复兴的路上，那之后的AMD将开始咄咄逼人，老对手英特尔恐将左右夹击！ 在利好财报加持之下，AMD盘后股价微涨1%，幅度似乎对不住大超预期的财报，但实际上并不难理解，毕竟财报超预期已经成为AMD的传统！ 量价齐升，AMD净利润暴增352%！ 在二季报发布之前，AMD给出的指引是营收36亿美元，上下浮动1亿美元，毛利率在47%。彭博分析师一致预期的收入在36.13亿。 成绩单揭晓之后，AMD二季度实际营收38.5亿美元，同比增长99.3%，毛利率48%，双双超出预期。 在AMD的营收结构中，分为两类来源，一个是计算与图形业务，包括台式机和笔记本电脑的CPU及GPU销售；另外一个是企业、嵌入式和半定制业务，包括数据中心和游戏机收入。 计算与图形业务二季度实现22.5亿美元营收，同比增长64.6%，远超过往4个季度的增速。 推动营收增长的原因是量价齐升，由于锐龙桌面及笔记本处理器的丰富组合，客户端处理器ASP均价同比、环比都在上涨，高端Radeon显卡均价同样都在增长。 企业、嵌入式和半定制业务二季度实现营收16亿美元，同比大增183%，环比增长19%，增长是由 EPYC处理器收入和半定制产品销售增加推动的。 量价齐升同时带来了盈利能力的爆发，二季度AMD净利润7.1亿美元，同比暴增352%，净利率达到18.4%。 对于二季度业绩，AMD首席执行官苏姿丰表示：“我们的","text":"芯片巨头AMD$AMD(AMD)$昨夜发布了二季度财报，一如往常，业绩超出市场预期。 在谈及和老对手英特尔的竞争时，AMD首席执行官苏姿丰放言要“为每一个CPU插槽而战”！ 强劲的业绩、先进的产品组合，AMD急不可耐上调了2021年全年营收增速，由之前预期的50%上调至60%。 如果2021年之前的AMD是走在复兴的路上，那之后的AMD将开始咄咄逼人，老对手英特尔恐将左右夹击！ 在利好财报加持之下，AMD盘后股价微涨1%，幅度似乎对不住大超预期的财报，但实际上并不难理解，毕竟财报超预期已经成为AMD的传统！ 量价齐升，AMD净利润暴增352%！ 在二季报发布之前，AMD给出的指引是营收36亿美元，上下浮动1亿美元，毛利率在47%。彭博分析师一致预期的收入在36.13亿。 成绩单揭晓之后，AMD二季度实际营收38.5亿美元，同比增长99.3%，毛利率48%，双双超出预期。 在AMD的营收结构中，分为两类来源，一个是计算与图形业务，包括台式机和笔记本电脑的CPU及GPU销售；另外一个是企业、嵌入式和半定制业务，包括数据中心和游戏机收入。 计算与图形业务二季度实现22.5亿美元营收，同比增长64.6%，远超过往4个季度的增速。 推动营收增长的原因是量价齐升，由于锐龙桌面及笔记本处理器的丰富组合，客户端处理器ASP均价同比、环比都在上涨，高端Radeon显卡均价同样都在增长。 企业、嵌入式和半定制业务二季度实现营收16亿美元，同比大增183%，环比增长19%，增长是由 EPYC处理器收入和半定制产品销售增加推动的。 量价齐升同时带来了盈利能力的爆发，二季度AMD净利润7.1亿美元，同比暴增352%，净利率达到18.4%。 对于二季度业绩，AMD首席执行官苏姿丰表示：“我们的","images":[{"img":"https://static.tigerbbs.com/d39b42c52aeab5e8c537adc3396fb656","width":"688","height":"382"},{"img":"https://static.tigerbbs.com/82412d0a4465522828ca704f09372286","width":"688","height":"347"},{"img":"https://static.tigerbbs.com/746ff6ca42d63e39f56d12bb53bd3be4","width":"688","height":"252"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803590843","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":5,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179488008,"gmtCreate":1626571489004,"gmtModify":1631891074148,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Good chance to buy more&nbsp;<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)$</a>","listText":"Good chance to buy more&nbsp;<a href=\"https://laohu8.com/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)$</a>","text":"Good chance to buy more $Taiwan Semiconductor Manufacturing(TSM)$","images":[{"img":"https://static.tigerbbs.com/6642731b85f74eeb80c87378918ec315","width":"1080","height":"2412"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179488008","isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":106335911,"gmtCreate":1620087799433,"gmtModify":1631884222898,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"Well.. not bad news at all. Just another journey in life.","listText":"Well.. not bad news at all. Just another journey in life.","text":"Well.. not bad news at all. Just another journey in life.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/106335911","repostId":"1147234999","repostType":4,"isVote":1,"tweetType":1,"viewCount":304,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103063741,"gmtCreate":1619739574683,"gmtModify":1631893972061,"author":{"id":"3565436016441263","authorId":"3565436016441263","name":"Mokku","avatar":"https://static.tigerbbs.com/9e4e094f64e75e5e8f16841e19e65316","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565436016441263","idStr":"3565436016441263"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>One Apple a Day...","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>One Apple a Day...","text":"$Apple(AAPL)$One Apple a Day...","images":[{"img":"https://static.tigerbbs.com/60dc8592fa8956c2acc121181a9a30ff","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103063741","isVote":1,"tweetType":1,"viewCount":403,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}