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2021-12-10

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Can Apple Stock Climb Another 45%? What History Says<blockquote>苹果股价能否再上涨45%？历史怎么说</blockquote>

2021-12-10

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Here Are the Cheapest Stocks in Each Sector of the S&P 500<blockquote>以下是标普500每个板块中最便宜的股票</blockquote>

2021-12-09

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2021-12-07

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2021-12-05

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2021-12-04

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2021-12-03

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3 Surefire Growth Stocks to Buy in December<blockquote>12月值得买入的3只万无一失的成长型股票</blockquote>

2021-12-02

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Here's where Citi strategists say a 'buyback boom' is coming<blockquote>花旗策略师表示，“回购热潮”即将到来</blockquote>

2021-12-01

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2021-11-30

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2021-11-29

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GameStop: The Fun is Ending as Losses Pile Up<blockquote>游戏驿站：随着损失的增加，乐趣即将结束</blockquote>

2021-11-28

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2021-11-26

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5 Trillion Reasons To Be Bullish On Tesla<blockquote>5万亿个理由看好特斯拉</blockquote>

2021-11-25

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2021-11-24

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2021-11-22

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NIO shares rose more than 10% in early trading<blockquote>蔚来股价早盘涨超10%</blockquote>

2021-11-20

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2021-11-19

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2021-11-18

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2021-11-14

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What History Says<blockquote>苹果股价能否再上涨45%？历史怎么说</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160142374","media":"TheStreet","summary":"As it breaches $2.9 trillion market cap for the first time ever, Apple stock has produced 45% gains in the past year. Should investors expect similar performance over the next 12 months?Apple stock has surpassed $2.9 trillion market cap for the first time, and investors celebrate outstanding one-year returns of around 45%. Since the start of the iPhone era , AAPL has produced very solid, but still lower average one-year gains of 36%.Now, shareholders look forward. Is it reasonable to expect AAPL","content":"<p>As it breaches $2.9 trillion market cap for the first time ever, Apple stock has produced 45% gains in the past year. Should investors expect similar performance over the next 12 months?</p><p><blockquote>苹果股价首次突破2.9万亿美元市值，去年上涨了45%。投资者是否应该期待未来12个月的类似表现？</blockquote></p><p> Apple stock&nbsp;has surpassed $2.9 trillion market cap for the first time, and investors celebrate outstanding one-year returns of around 45%. Since the start of the iPhone era (i.e. 2007 to present), AAPL has produced very solid, but still lower average one-year gains of 36%.</p><p><blockquote>苹果股票市值首次超过2.9万亿美元，投资者庆祝45%左右的出色一年回报率。自iPhone时代开始（即2007年至今）以来，AAPL的平均一年涨幅非常稳健，但仍较低，为36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e746370f51d8b99a1b176c6863eb1b1\" tg-width=\"1240\" tg-height=\"696\" width=\"100%\" height=\"auto\"><span>Figure 1: Apple store in Chongqing, China.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：苹果店。</span></p></blockquote></p><p> Now, shareholders look forward. Is it reasonable to expect AAPL stock to climb another 45% until the end of 2022? Today, the Apple Maven sets aside business fundamentals for a moment and looks at what history has to say about this question.</p><p><blockquote>现在，股东们满怀期待。预计AAPL股价到2022年底将再上涨45%是否合理？今天，这位苹果专家暂时抛开商业基本面，看看历史对这个问题的看法。</blockquote></p><p> <b>What to expect of AAPL</b></p><p><blockquote><b>对AAPL有何期待</b></blockquote></p><p> I have written plenty about how Wall Street experts have recently taken sides on Apple stock. On the one hand,bulls see a strong holiday quarter&nbsp;of sales and growth opportunities in 2022. On the other hand, a few bears think that&nbsp;AAPL could be overpriced&nbsp;by nearly 20% due to slowing growth in a post-pandemic environment and shorter lead times on iPhones.</p><p><blockquote>我已经写了很多关于华尔街专家最近如何对苹果股票采取立场的文章。一方面，多头看到了2022年强劲的假日季度销售和增长机会。另一方面，一些看空者认为，由于大流行后环境下增长放缓以及iPhone交货时间缩短，AAPL的定价可能会过高近20%。</blockquote></p><p> But to understand if Apple shares could climb another 45% in the next 12 months, I turn to historical share price behavior. The gains observed in the past year may look outsized vs. the S&amp;P 500’s historical performance. But they are fairly standard for a stock like AAPL.</p><p><blockquote>但为了了解苹果股价是否能在未来12个月内再上涨45%，我求助于历史股价行为。与标普500的历史表现相比，过去一年观察到的涨幅可能看起来过大。但对于像AAPL这样的股票来说，它们是相当标准的。</blockquote></p><p> The chart below shows the average gains produced by holding AAPL for 12 months, since the launch year of the first iPhone model. If the stock were bought on any given day, returns would have been 36%. If bought within 5% of peak prices, gains would have been much lower: 25%.</p><p><blockquote>下图显示了自第一款iPhone机型推出以来，持有AAPL 12个月所产生的平均收益。如果在任何一天购买该股票，回报率将为36%。如果在峰值价格的5%以内买入，收益会低得多：25%。</blockquote></p><p> Notice that the outsized gains earned from holding Apple stock for a year tend to come from buying shares after a steep 20%-plus drawdown. The last one happened in September 2020, and the previous one had been during the initial COVID-19 bear market.</p><p><blockquote>请注意，持有苹果股票一年所获得的巨大收益往往来自于在大幅下跌20%以上后购买股票。上一次发生在2020年9月，上一次发生在最初的COVID-19熊市期间。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bfdba2437dc07efd8b0ae81f1b68a9ac\" tg-width=\"845\" tg-height=\"484\" width=\"100%\" height=\"auto\"><span>Figure 2: Average 1-year gains in AAPL since 2007.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：AAPL自2007年以来的平均1年涨幅。</span></p></blockquote></p><p> The chart above reinforces the idea that buying AAPL near peaks, as is the case today, has historically led to below average returns. Of course, these averages have still been much better than what an investor would have earned from buying and holding a diversified basket of stocks, like the S&amp;P 500 or even the Nasdaq.</p><p><blockquote>上图强化了这样一种观点，即在接近峰值时买入AAPL（就像今天的情况一样）历来会导致低于平均水平的回报。当然，这些平均值仍然比投资者购买和持有一篮子多元化股票（例如标普500甚至纳斯达克）所获得的收益要好得多。</blockquote></p><p> Averages only tell part of a story. Equally important, the range of outcomes has been very wide. For instance, buying AAPL near a peak in December 2007 would have resulted in massive loss of -57% over the following year. On the other hand, buying near the peak in January of the same year would have resulted in an impressive one-year gain of +128%.</p><p><blockquote>平均值只能说明故事的一部分。同样重要的是，结果的范围非常广泛。例如，在2007年12月接近峰值时买入AAPL将导致次年亏损-57%。另一方面，在同年1月接近峰值时买入会带来+128%的令人印象深刻的一年涨幅。</blockquote></p><p> Below is the distribution (histogram) of one-year returns in AAPL, when shares are bought near peaks. Again, the range of outcomes has been very wide. That said, typical gains have been roughly in the 20%-to-30% territory.</p><p><blockquote>下面是AAPL一年回报率的分布（直方图），当时股票在接近峰值时购买。同样，结果的范围非常广泛。也就是说，典型的涨幅约为20%至30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8ad9d93eed25fc47e9b5d7f45d4b354d\" tg-width=\"862\" tg-height=\"528\" width=\"100%\" height=\"auto\"><span>Figure 3: Distribution of 1-year returns in AAPL, near peaks.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：AAPL的1年回报率分布，接近峰值。</span></p></blockquote></p><p> <b>The Apple Maven’s take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> Can AAPL rise another 45% in the next year? It sure can, even off its current peak levels. In fact, Apple shares have, in rare cases, more than doubled in price in 12 months even after trading near all-time highs.</p><p><blockquote>AAPL未来一年能否再涨45%？它当然可以，即使低于目前的峰值水平。事实上，在极少数情况下，苹果股价在12个月内上涨了一倍多，即使交易价格接近历史高点。</blockquote></p><p> However, for the sake of being conservative, I don’t think that investors should bet on something like it happening next. I think that more modest gains of 20% to 30% through December 2022, if reached, would already be considered outstanding.</p><p><blockquote>然而，为了保守起见，我认为投资者不应该押注类似的事情接下来会发生。我认为，到2022年12月，如果达到20%至30%的温和涨幅，就已经被认为是出色的。</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>Can Apple Stock Climb Another 45%? What History Says<blockquote>苹果股价能否再上涨45%？历史怎么说</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\">\nCan Apple Stock Climb Another 45%? What History Says<blockquote>苹果股价能否再上涨45%？历史怎么说</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-12-10 21:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As it breaches $2.9 trillion market cap for the first time ever, Apple stock has produced 45% gains in the past year. Should investors expect similar performance over the next 12 months?</p><p><blockquote>苹果股价首次突破2.9万亿美元市值，去年上涨了45%。投资者是否应该期待未来12个月的类似表现？</blockquote></p><p> Apple stock&nbsp;has surpassed $2.9 trillion market cap for the first time, and investors celebrate outstanding one-year returns of around 45%. Since the start of the iPhone era (i.e. 2007 to present), AAPL has produced very solid, but still lower average one-year gains of 36%.</p><p><blockquote>苹果股票市值首次超过2.9万亿美元，投资者庆祝45%左右的出色一年回报率。自iPhone时代开始（即2007年至今）以来，AAPL的平均一年涨幅非常稳健，但仍较低，为36%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e746370f51d8b99a1b176c6863eb1b1\" tg-width=\"1240\" tg-height=\"696\" width=\"100%\" height=\"auto\"><span>Figure 1: Apple store in Chongqing, China.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：苹果店。</span></p></blockquote></p><p> Now, shareholders look forward. Is it reasonable to expect AAPL stock to climb another 45% until the end of 2022? Today, the Apple Maven sets aside business fundamentals for a moment and looks at what history has to say about this question.</p><p><blockquote>现在，股东们满怀期待。预计AAPL股价到2022年底将再上涨45%是否合理？今天，这位苹果专家暂时抛开商业基本面，看看历史对这个问题的看法。</blockquote></p><p> <b>What to expect of AAPL</b></p><p><blockquote><b>对AAPL有何期待</b></blockquote></p><p> I have written plenty about how Wall Street experts have recently taken sides on Apple stock. On the one hand,bulls see a strong holiday quarter&nbsp;of sales and growth opportunities in 2022. On the other hand, a few bears think that&nbsp;AAPL could be overpriced&nbsp;by nearly 20% due to slowing growth in a post-pandemic environment and shorter lead times on iPhones.</p><p><blockquote>我已经写了很多关于华尔街专家最近如何对苹果股票采取立场的文章。一方面，多头看到了2022年强劲的假日季度销售和增长机会。另一方面，一些看空者认为，由于大流行后环境下增长放缓以及iPhone交货时间缩短，AAPL的定价可能会过高近20%。</blockquote></p><p> But to understand if Apple shares could climb another 45% in the next 12 months, I turn to historical share price behavior. The gains observed in the past year may look outsized vs. the S&amp;P 500’s historical performance. But they are fairly standard for a stock like AAPL.</p><p><blockquote>但为了了解苹果股价是否能在未来12个月内再上涨45%，我求助于历史股价行为。与标普500的历史表现相比，过去一年观察到的涨幅可能看起来过大。但对于像AAPL这样的股票来说，它们是相当标准的。</blockquote></p><p> The chart below shows the average gains produced by holding AAPL for 12 months, since the launch year of the first iPhone model. If the stock were bought on any given day, returns would have been 36%. If bought within 5% of peak prices, gains would have been much lower: 25%.</p><p><blockquote>下图显示了自第一款iPhone机型推出以来，持有AAPL 12个月所产生的平均收益。如果在任何一天购买该股票，回报率将为36%。如果在峰值价格的5%以内买入，收益会低得多：25%。</blockquote></p><p> Notice that the outsized gains earned from holding Apple stock for a year tend to come from buying shares after a steep 20%-plus drawdown. The last one happened in September 2020, and the previous one had been during the initial COVID-19 bear market.</p><p><blockquote>请注意，持有苹果股票一年所获得的巨大收益往往来自于在大幅下跌20%以上后购买股票。上一次发生在2020年9月，上一次发生在最初的COVID-19熊市期间。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bfdba2437dc07efd8b0ae81f1b68a9ac\" tg-width=\"845\" tg-height=\"484\" width=\"100%\" height=\"auto\"><span>Figure 2: Average 1-year gains in AAPL since 2007.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：AAPL自2007年以来的平均1年涨幅。</span></p></blockquote></p><p> The chart above reinforces the idea that buying AAPL near peaks, as is the case today, has historically led to below average returns. Of course, these averages have still been much better than what an investor would have earned from buying and holding a diversified basket of stocks, like the S&amp;P 500 or even the Nasdaq.</p><p><blockquote>上图强化了这样一种观点，即在接近峰值时买入AAPL（就像今天的情况一样）历来会导致低于平均水平的回报。当然，这些平均值仍然比投资者购买和持有一篮子多元化股票（例如标普500甚至纳斯达克）所获得的收益要好得多。</blockquote></p><p> Averages only tell part of a story. Equally important, the range of outcomes has been very wide. For instance, buying AAPL near a peak in December 2007 would have resulted in massive loss of -57% over the following year. On the other hand, buying near the peak in January of the same year would have resulted in an impressive one-year gain of +128%.</p><p><blockquote>平均值只能说明故事的一部分。同样重要的是，结果的范围非常广泛。例如，在2007年12月接近峰值时买入AAPL将导致次年亏损-57%。另一方面，在同年1月接近峰值时买入会带来+128%的令人印象深刻的一年涨幅。</blockquote></p><p> Below is the distribution (histogram) of one-year returns in AAPL, when shares are bought near peaks. Again, the range of outcomes has been very wide. That said, typical gains have been roughly in the 20%-to-30% territory.</p><p><blockquote>下面是AAPL一年回报率的分布（直方图），当时股票在接近峰值时购买。同样，结果的范围非常广泛。也就是说，典型的涨幅约为20%至30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8ad9d93eed25fc47e9b5d7f45d4b354d\" tg-width=\"862\" tg-height=\"528\" width=\"100%\" height=\"auto\"><span>Figure 3: Distribution of 1-year returns in AAPL, near peaks.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：AAPL的1年回报率分布，接近峰值。</span></p></blockquote></p><p> <b>The Apple Maven’s take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> Can AAPL rise another 45% in the next year? It sure can, even off its current peak levels. In fact, Apple shares have, in rare cases, more than doubled in price in 12 months even after trading near all-time highs.</p><p><blockquote>AAPL未来一年能否再涨45%？它当然可以，即使低于目前的峰值水平。事实上，在极少数情况下，苹果股价在12个月内上涨了一倍多，即使交易价格接近历史高点。</blockquote></p><p> However, for the sake of being conservative, I don’t think that investors should bet on something like it happening next. I think that more modest gains of 20% to 30% through December 2022, if reached, would already be considered outstanding.</p><p><blockquote>然而，为了保守起见，我认为投资者不应该押注类似的事情接下来会发生。我认为，到2022年12月，如果达到20%至30%的温和涨幅，就已经被认为是出色的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/stock/can-apple-stock-climb-another-45-what-history-says\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/can-apple-stock-climb-another-45-what-history-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160142374","content_text":"As it breaches $2.9 trillion market cap for the first time ever, Apple stock has produced 45% gains in the past year. Should investors expect similar performance over the next 12 months?\nApple stock has surpassed $2.9 trillion market cap for the first time, and investors celebrate outstanding one-year returns of around 45%. Since the start of the iPhone era (i.e. 2007 to present), AAPL has produced very solid, but still lower average one-year gains of 36%.\nFigure 1: Apple store in Chongqing, China.\nNow, shareholders look forward. Is it reasonable to expect AAPL stock to climb another 45% until the end of 2022? Today, the Apple Maven sets aside business fundamentals for a moment and looks at what history has to say about this question.\nWhat to expect of AAPL\nI have written plenty about how Wall Street experts have recently taken sides on Apple stock. On the one hand,bulls see a strong holiday quarter of sales and growth opportunities in 2022. On the other hand, a few bears think that AAPL could be overpriced by nearly 20% due to slowing growth in a post-pandemic environment and shorter lead times on iPhones.\nBut to understand if Apple shares could climb another 45% in the next 12 months, I turn to historical share price behavior. The gains observed in the past year may look outsized vs. the S&P 500’s historical performance. But they are fairly standard for a stock like AAPL.\nThe chart below shows the average gains produced by holding AAPL for 12 months, since the launch year of the first iPhone model. If the stock were bought on any given day, returns would have been 36%. If bought within 5% of peak prices, gains would have been much lower: 25%.\nNotice that the outsized gains earned from holding Apple stock for a year tend to come from buying shares after a steep 20%-plus drawdown. The last one happened in September 2020, and the previous one had been during the initial COVID-19 bear market.\nFigure 2: Average 1-year gains in AAPL since 2007.\nThe chart above reinforces the idea that buying AAPL near peaks, as is the case today, has historically led to below average returns. Of course, these averages have still been much better than what an investor would have earned from buying and holding a diversified basket of stocks, like the S&P 500 or even the Nasdaq.\nAverages only tell part of a story. Equally important, the range of outcomes has been very wide. For instance, buying AAPL near a peak in December 2007 would have resulted in massive loss of -57% over the following year. On the other hand, buying near the peak in January of the same year would have resulted in an impressive one-year gain of +128%.\nBelow is the distribution (histogram) of one-year returns in AAPL, when shares are bought near peaks. Again, the range of outcomes has been very wide. That said, typical gains have been roughly in the 20%-to-30% territory.\nFigure 3: Distribution of 1-year returns in AAPL, near peaks.\nThe Apple Maven’s take\nCan AAPL rise another 45% in the next year? It sure can, even off its current peak levels. In fact, Apple shares have, in rare cases, more than doubled in price in 12 months even after trading near all-time highs.\nHowever, for the sake of being conservative, I don’t think that investors should bet on something like it happening next. I think that more modest gains of 20% to 30% through December 2022, if reached, would already be considered outstanding.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":3270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605821281,"gmtCreate":1639146616283,"gmtModify":1639146670537,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605821281","repostId":"1112170047","repostType":4,"repost":{"id":"1112170047","kind":"news","pubTimestamp":1639145272,"share":"https://www.laohu8.com/m/news/1112170047?lang=zh_CN&edition=full","pubTime":"2021-12-10 22:07","market":"us","language":"en","title":"Here Are the Cheapest Stocks in Each Sector of the S&P 500<blockquote>以下是标普500每个板块中最便宜的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112170047","media":"Barrons","summary":"The S&P 500 continues to trade at the very high end of its historical valuation range, even after a ","content":"<p>The&nbsp;S&amp;P 500&nbsp;continues to trade at the very high end of its historical valuation range, even after a rocky November.</p><p><blockquote>即使在经历了动荡的11月之后，标准普尔500指数仍继续处于历史估值区间的高端。</blockquote></p><p> The index goes for about 21 times Wall Street analysts’ consensus estimates for 2022 per-share earnings, with sectors like technology and consumer discretionary going for well above that multiple. Other groups, like energy or financials, are available for much cheaper valuations.</p><p><blockquote>该指数的涨幅约为华尔街分析师对2022年每股收益普遍预期的21倍，其中科技和非必需消费品等行业的涨幅远高于这一倍数。能源或金融等其他类别的估值要便宜得多。</blockquote></p><p> But there are inexpensive stocks in all 11 S&amp;P 500 sectors. Like a basketball player who is always open, there might be a good reason for many of those discounts. Just as opposing teams are sometimes better off concentrating their defense elsewhere on the court, some companies’ stocks can be cheap for a reason. Their growth may be scarce, or one-time factors could be distorting expected 2022 results.</p><p><blockquote>但标普500所有11个行业都有廉价股票。就像一个总是开放的篮球运动员一样，这些折扣可能有一个很好的理由。正如对方球队有时最好将防守集中在球场的其他地方一样，一些公司的股票便宜是有原因的。它们的增长可能很少，或者一次性因素可能会扭曲2022年的预期业绩。</blockquote></p><p> Periodically surveying the market for the biggest valuation outliers can still be a good starting point for further analysis. Here are the three cheapest stocks in all 11 S&amp;P 500 sectors:</p><p><blockquote>定期调查市场中最大的估值异常值仍然是进一步分析的良好起点。以下是标普500所有11个行业中最便宜的三只股票：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8e71b28f070e8af15d7a7960625e7bd9\" tg-width=\"1127\" tg-height=\"550\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/dde0405e86833ecd15f41f0f07092bc9\" tg-width=\"1131\" tg-height=\"544\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/61ae8debc1031d09a2333225bd3aa8e5\" tg-width=\"1125\" tg-height=\"547\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec7bb6903b6df0bb4cc2bf2720212d3a\" tg-width=\"1135\" tg-height=\"265\" referrerpolicy=\"no-referrer\"><span>*P/2022E FFO. Source: Bloomberg, FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>*P/2022E FFO。资料来源：彭博社、FactSet</span></p></blockquote></p><p> The S&amp;P 500 consumer discretionary sector is the priciest group in the index, going for more than 33 times expected 2022 earnings. The presence of high-multiple stocks Tesla (ticker: TSLA) and&nbsp;Amazon.com&nbsp;(AMZN) is responsible for a good chunk of that. Those two make up a combined 40% of the sector’s market cap, and go for 121 times and 68 times 2022 forecast earnings, respectively.</p><p><blockquote>标普500非必需消费品行业是该指数中价格最高的类别，其2022年预期市盈率超过33倍。高市盈率股票特斯拉（股票代码：TSLA）和亚马逊的存在是其中的很大一部分原因。这两者合计占该行业市值的40%，分别是2022年预测市盈率的121倍和68倍。</blockquote></p><p> On the other end of the valuation spectrum in the sector are three U.S. homebuilding stocks:PulteGroup&nbsp;(PHM),D.R. Horton&nbsp;(DHI), and&nbsp;Lennar&nbsp;(LEN). Those trade for less than 8 times 2022 expected earnings.</p><p><blockquote>该行业估值范围的另一端是三只美国住宅建筑股票：PulteGroup(PHM)、D.R.霍顿（DHI）和伦纳（LEN）。这些交易的市盈率不到2022年预期市盈率的8倍。</blockquote></p><p> The U.S. housing market has been enjoying a pandemic boom: Prices are at or near record highs in many regions, the supply of homes for sale is tight, and homebuilders’ profits are booming. Investors, however, don’t seem to expect that to last forever.</p><p><blockquote>美国房地产市场一直在享受疫情的繁荣：许多地区的价格处于或接近历史新高，待售房屋供应紧张，房屋建筑商的利润正在蓬勃发展。然而，投资者似乎并不认为这种情况会永远持续下去。</blockquote></p><p> PulteGroup, D.R. Horton, and Lennar’s cheap valuations demonstrate what tends to happen to stocks of companies with cyclical end markets: Multiples contract toward the top of the cycle, because investors worry that things are as good as they’re going to get and the current level of earnings won’t be sustainable.</p><p><blockquote>普尔特集团。霍顿和莱纳的廉价估值表明了具有周期性终端市场的公司的股票往往会发生什么：市盈率在周期顶部收缩，因为投资者担心情况会像他们将要得到的那样好，而目前的水平收益将是不可持续的。</blockquote></p><p> A recent <i>Barron’s</i> cover story made the case for why the current housing boom could have legs, including the millennial generation aging into their home-buying years and a shortage of houses built since the financial crisis over a decade ago. Home builders’ cheap valuations make for an interesting entry point.</p><p><blockquote>最近的<i>巴伦周刊</i>封面故事解释了为什么当前的房地产繁荣会持续下去，包括千禧一代进入购房年龄，以及自十多年前金融危机以来建造的房屋短缺。房屋建筑商的廉价估值是一个有趣的切入点。</blockquote></p><p> Technology stocks as a group are at 28 times next year’s estimated profits, while the sector’s cheapest stock—Western Digital&nbsp;(WDC)—goes for just 6.8 times. Cyclicality is behind that discount once again.</p><p><blockquote>科技股整体的市盈率是明年预期利润的28倍，而该行业最便宜的股票西部数据(WDC)的市盈率仅为6.8倍。周期性再次成为折扣背后的原因。</blockquote></p><p> Western Digital operates in the highly cyclical memory chip market—periods of intense demand and high sales tend to be followed by slumps of oversupply and weaker pricing. A pandemic-era work-from-home boost to demand for computers, smartphones, and cloud infrastructure has kept inventories low and pricing high for Western Digital’s products. Investors know that won’t always be the case.</p><p><blockquote>西部数据在高度周期性的存储芯片市场中运营——需求旺盛和销售旺盛的时期往往会出现供应过剩和定价疲软的情况。大流行时代在家工作对计算机、智能手机和云基础设施需求的提振，使得西部数据产品的库存保持在低位，价格保持在高位。投资者知道情况并非总是如此。</blockquote></p><p> In the S&amp;P 500’s cheapest sector, energy, APA (APA),Coterra Energy&nbsp;(CTRA), and&nbsp;Diamondback Energy&nbsp;(FANG) are the three cheapest stocks. The group as a whole goes for just over 11 times next year’s forecasted earnings, and its three cheapest members—all U.S. shale oil or gas producers—trade for between 5 and 7 times. Investors are clearly worried about the future of fossil fuels as the world moves toward renewable energy, and won’t pay up for oil and gas stocks.</p><p><blockquote>在标普500最便宜的能源板块中，APA(APA)、Coterra Energy(CTRA)和Diamondback Energy(FANG)是最便宜的三只股票。该集团整体的市盈率略高于明年预期市盈率的11倍，其三个最便宜的成员（均为美国页岩油或天然气生产商）的市盈率在5至7倍之间。随着世界转向可再生能源，投资者显然担心化石燃料的未来，并且不会为石油和天然气股票买单。</blockquote></p><p> Other particularly cheap S&amp;P 500 stocks can be found in the healthcare sector. A pair of recent pharma-company spinoffs—Viatris&nbsp;(VTRS), jettisoned from&nbsp;Pfizer&nbsp;(PFE) last year and merged with Mylan, and Organon (OGN), excised from Merck (MRK) last summer—trade for the lowest valuations in the entire index. Spinoffs in general haven’t done well lately, and the brand-new stocks with generic-sounding names are likely under the radar for investors that don’t focus on healthcare specifically. <i>Barron’s</i> is more bullish on Organon than Viatris.</p><p><blockquote>其他特别便宜的标普500股票可以在医疗保健行业找到。最近的两家制药公司分拆公司——去年从辉瑞(PFE)剥离并与迈兰合并的Viatris(VTRS)和去年夏天从默克(MRK)剥离的Organon(OGN)——的估值在整个指数中最低。总体而言，分拆最近表现不佳，对于不专门关注医疗保健的投资者来说，名字听起来很普通的全新股票可能会受到关注。<i>巴伦周刊</i>比Viatris更看好Organon。</blockquote></p><p></p><p> The two cheapest stocks in the S&amp;P 500 communications services sector are also in the midst of major M&amp;A:AT&amp;T&nbsp;(T) and Discovery (DISCA). Both trade for close to 7.5 next year’s expected earnings, versus their sector’s average of 20.8 times. AT&amp;T will spin off its WarnerMedia subsidiary around the middle of next year and merge it with Discovery, returning the storied American company to its telecom roots. Both companies will have much to prove, and many investors may be waiting until the transactions close next year to pick their pure-play bet: streaming entertainment via Discovery, or wired and wireless telecommunications services via AT&amp;T.</p><p><blockquote>标普500通信服务行业中最便宜的两只股票也处于重大并购之中：AT&amp;T(T)和Discovery(DISCA)。两家公司明年预期市盈率接近7.5倍，而该行业的平均市盈率为20.8倍。AT&amp;T将在明年年中左右剥离其WarnerMedia子公司，并将其与Discovery合并，让这家传奇的美国公司回归其电信根源。两家公司都有很多东西需要证明，许多投资者可能会等到明年交易结束后才选择他们的纯粹赌注：通过Discovery提供流媒体娱乐，或者通过AT&amp;T提供有线和无线电信服务。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the Cheapest Stocks in Each Sector of the S&P 500<blockquote>以下是标普500每个板块中最便宜的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the Cheapest Stocks in Each Sector of the S&P 500<blockquote>以下是标普500每个板块中最便宜的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-12-10 22:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The&nbsp;S&amp;P 500&nbsp;continues to trade at the very high end of its historical valuation range, even after a rocky November.</p><p><blockquote>即使在经历了动荡的11月之后，标准普尔500指数仍继续处于历史估值区间的高端。</blockquote></p><p> The index goes for about 21 times Wall Street analysts’ consensus estimates for 2022 per-share earnings, with sectors like technology and consumer discretionary going for well above that multiple. Other groups, like energy or financials, are available for much cheaper valuations.</p><p><blockquote>该指数的涨幅约为华尔街分析师对2022年每股收益普遍预期的21倍，其中科技和非必需消费品等行业的涨幅远高于这一倍数。能源或金融等其他类别的估值要便宜得多。</blockquote></p><p> But there are inexpensive stocks in all 11 S&amp;P 500 sectors. Like a basketball player who is always open, there might be a good reason for many of those discounts. Just as opposing teams are sometimes better off concentrating their defense elsewhere on the court, some companies’ stocks can be cheap for a reason. Their growth may be scarce, or one-time factors could be distorting expected 2022 results.</p><p><blockquote>但标普500所有11个行业都有廉价股票。就像一个总是开放的篮球运动员一样，这些折扣可能有一个很好的理由。正如对方球队有时最好将防守集中在球场的其他地方一样，一些公司的股票便宜是有原因的。它们的增长可能很少，或者一次性因素可能会扭曲2022年的预期业绩。</blockquote></p><p> Periodically surveying the market for the biggest valuation outliers can still be a good starting point for further analysis. Here are the three cheapest stocks in all 11 S&amp;P 500 sectors:</p><p><blockquote>定期调查市场中最大的估值异常值仍然是进一步分析的良好起点。以下是标普500所有11个行业中最便宜的三只股票：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8e71b28f070e8af15d7a7960625e7bd9\" tg-width=\"1127\" tg-height=\"550\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/dde0405e86833ecd15f41f0f07092bc9\" tg-width=\"1131\" tg-height=\"544\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/61ae8debc1031d09a2333225bd3aa8e5\" tg-width=\"1125\" tg-height=\"547\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec7bb6903b6df0bb4cc2bf2720212d3a\" tg-width=\"1135\" tg-height=\"265\" referrerpolicy=\"no-referrer\"><span>*P/2022E FFO. Source: Bloomberg, FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>*P/2022E FFO。资料来源：彭博社、FactSet</span></p></blockquote></p><p> The S&amp;P 500 consumer discretionary sector is the priciest group in the index, going for more than 33 times expected 2022 earnings. The presence of high-multiple stocks Tesla (ticker: TSLA) and&nbsp;Amazon.com&nbsp;(AMZN) is responsible for a good chunk of that. Those two make up a combined 40% of the sector’s market cap, and go for 121 times and 68 times 2022 forecast earnings, respectively.</p><p><blockquote>标普500非必需消费品行业是该指数中价格最高的类别，其2022年预期市盈率超过33倍。高市盈率股票特斯拉（股票代码：TSLA）和亚马逊的存在是其中的很大一部分原因。这两者合计占该行业市值的40%，分别是2022年预测市盈率的121倍和68倍。</blockquote></p><p> On the other end of the valuation spectrum in the sector are three U.S. homebuilding stocks:PulteGroup&nbsp;(PHM),D.R. Horton&nbsp;(DHI), and&nbsp;Lennar&nbsp;(LEN). Those trade for less than 8 times 2022 expected earnings.</p><p><blockquote>该行业估值范围的另一端是三只美国住宅建筑股票：PulteGroup(PHM)、D.R.霍顿（DHI）和伦纳（LEN）。这些交易的市盈率不到2022年预期市盈率的8倍。</blockquote></p><p> The U.S. housing market has been enjoying a pandemic boom: Prices are at or near record highs in many regions, the supply of homes for sale is tight, and homebuilders’ profits are booming. Investors, however, don’t seem to expect that to last forever.</p><p><blockquote>美国房地产市场一直在享受疫情的繁荣：许多地区的价格处于或接近历史新高，待售房屋供应紧张，房屋建筑商的利润正在蓬勃发展。然而，投资者似乎并不认为这种情况会永远持续下去。</blockquote></p><p> PulteGroup, D.R. Horton, and Lennar’s cheap valuations demonstrate what tends to happen to stocks of companies with cyclical end markets: Multiples contract toward the top of the cycle, because investors worry that things are as good as they’re going to get and the current level of earnings won’t be sustainable.</p><p><blockquote>普尔特集团。霍顿和莱纳的廉价估值表明了具有周期性终端市场的公司的股票往往会发生什么：市盈率在周期顶部收缩，因为投资者担心情况会像他们将要得到的那样好，而目前的水平收益将是不可持续的。</blockquote></p><p> A recent <i>Barron’s</i> cover story made the case for why the current housing boom could have legs, including the millennial generation aging into their home-buying years and a shortage of houses built since the financial crisis over a decade ago. Home builders’ cheap valuations make for an interesting entry point.</p><p><blockquote>最近的<i>巴伦周刊</i>封面故事解释了为什么当前的房地产繁荣会持续下去，包括千禧一代进入购房年龄，以及自十多年前金融危机以来建造的房屋短缺。房屋建筑商的廉价估值是一个有趣的切入点。</blockquote></p><p> Technology stocks as a group are at 28 times next year’s estimated profits, while the sector’s cheapest stock—Western Digital&nbsp;(WDC)—goes for just 6.8 times. Cyclicality is behind that discount once again.</p><p><blockquote>科技股整体的市盈率是明年预期利润的28倍，而该行业最便宜的股票西部数据(WDC)的市盈率仅为6.8倍。周期性再次成为折扣背后的原因。</blockquote></p><p> Western Digital operates in the highly cyclical memory chip market—periods of intense demand and high sales tend to be followed by slumps of oversupply and weaker pricing. A pandemic-era work-from-home boost to demand for computers, smartphones, and cloud infrastructure has kept inventories low and pricing high for Western Digital’s products. Investors know that won’t always be the case.</p><p><blockquote>西部数据在高度周期性的存储芯片市场中运营——需求旺盛和销售旺盛的时期往往会出现供应过剩和定价疲软的情况。大流行时代在家工作对计算机、智能手机和云基础设施需求的提振，使得西部数据产品的库存保持在低位，价格保持在高位。投资者知道情况并非总是如此。</blockquote></p><p> In the S&amp;P 500’s cheapest sector, energy, APA (APA),Coterra Energy&nbsp;(CTRA), and&nbsp;Diamondback Energy&nbsp;(FANG) are the three cheapest stocks. The group as a whole goes for just over 11 times next year’s forecasted earnings, and its three cheapest members—all U.S. shale oil or gas producers—trade for between 5 and 7 times. Investors are clearly worried about the future of fossil fuels as the world moves toward renewable energy, and won’t pay up for oil and gas stocks.</p><p><blockquote>在标普500最便宜的能源板块中，APA(APA)、Coterra Energy(CTRA)和Diamondback Energy(FANG)是最便宜的三只股票。该集团整体的市盈率略高于明年预期市盈率的11倍，其三个最便宜的成员（均为美国页岩油或天然气生产商）的市盈率在5至7倍之间。随着世界转向可再生能源，投资者显然担心化石燃料的未来，并且不会为石油和天然气股票买单。</blockquote></p><p> Other particularly cheap S&amp;P 500 stocks can be found in the healthcare sector. A pair of recent pharma-company spinoffs—Viatris&nbsp;(VTRS), jettisoned from&nbsp;Pfizer&nbsp;(PFE) last year and merged with Mylan, and Organon (OGN), excised from Merck (MRK) last summer—trade for the lowest valuations in the entire index. Spinoffs in general haven’t done well lately, and the brand-new stocks with generic-sounding names are likely under the radar for investors that don’t focus on healthcare specifically. <i>Barron’s</i> is more bullish on Organon than Viatris.</p><p><blockquote>其他特别便宜的标普500股票可以在医疗保健行业找到。最近的两家制药公司分拆公司——去年从辉瑞(PFE)剥离并与迈兰合并的Viatris(VTRS)和去年夏天从默克(MRK)剥离的Organon(OGN)——的估值在整个指数中最低。总体而言，分拆最近表现不佳，对于不专门关注医疗保健的投资者来说，名字听起来很普通的全新股票可能会受到关注。<i>巴伦周刊</i>比Viatris更看好Organon。</blockquote></p><p></p><p> The two cheapest stocks in the S&amp;P 500 communications services sector are also in the midst of major M&amp;A:AT&amp;T&nbsp;(T) and Discovery (DISCA). Both trade for close to 7.5 next year’s expected earnings, versus their sector’s average of 20.8 times. AT&amp;T will spin off its WarnerMedia subsidiary around the middle of next year and merge it with Discovery, returning the storied American company to its telecom roots. Both companies will have much to prove, and many investors may be waiting until the transactions close next year to pick their pure-play bet: streaming entertainment via Discovery, or wired and wireless telecommunications services via AT&amp;T.</p><p><blockquote>标普500通信服务行业中最便宜的两只股票也处于重大并购之中：AT&amp;T(T)和Discovery(DISCA)。两家公司明年预期市盈率接近7.5倍，而该行业的平均市盈率为20.8倍。AT&amp;T将在明年年中左右剥离其WarnerMedia子公司，并将其与Discovery合并，让这家传奇的美国公司回归其电信根源。两家公司都有很多东西需要证明，许多投资者可能会等到明年交易结束后才选择他们的纯粹赌注：通过Discovery提供流媒体娱乐，或者通过AT&amp;T提供有线和无线电信服务。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/cheap-sp500-stocks-sector-51639090794?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SRE":"桑普拉能源","IVZ":"美国景顺集团","LUMN":"Lumen Technologies","VNO":"沃那多房信","OGN":"Organon & Co","ALK":"阿拉斯加航空集团有限公司","MOS":"美国美盛","WDC":"西部数据","APA":"阿帕契","MO":"奥驰亚","CMI":"康明斯","COF":"第一资本","VTRS":"Viatris Inc.","LNC":"林肯国民","BMY":"施贵宝","TAP":"莫库酒业","LEN":"莱纳建筑公司","PHM":"普得集团","DISCA":"探索传播","EIX":"爱迪生国际","CTRA":"Coterra Energy Inc.","CBRE":"世邦魏理仕","DHI":"霍顿房屋","HPE":"慧与科技","WBA":"沃尔格林联合博姿","T":"At&T","FANG":"Diamondback Energy","NRG":"NRG能源","CF":"CF工业","DAL":"达美航空","SPG":"西蒙地产","LYB":"利安德巴塞尔","WU":"西联汇款"},"source_url":"https://www.barrons.com/articles/cheap-sp500-stocks-sector-51639090794?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112170047","content_text":"The S&P 500 continues to trade at the very high end of its historical valuation range, even after a rocky November.\nThe index goes for about 21 times Wall Street analysts’ consensus estimates for 2022 per-share earnings, with sectors like technology and consumer discretionary going for well above that multiple. Other groups, like energy or financials, are available for much cheaper valuations.\nBut there are inexpensive stocks in all 11 S&P 500 sectors. Like a basketball player who is always open, there might be a good reason for many of those discounts. Just as opposing teams are sometimes better off concentrating their defense elsewhere on the court, some companies’ stocks can be cheap for a reason. Their growth may be scarce, or one-time factors could be distorting expected 2022 results.\nPeriodically surveying the market for the biggest valuation outliers can still be a good starting point for further analysis. Here are the three cheapest stocks in all 11 S&P 500 sectors:\n\n*P/2022E FFO. Source: Bloomberg, FactSet\nThe S&P 500 consumer discretionary sector is the priciest group in the index, going for more than 33 times expected 2022 earnings. The presence of high-multiple stocks Tesla (ticker: TSLA) and Amazon.com (AMZN) is responsible for a good chunk of that. Those two make up a combined 40% of the sector’s market cap, and go for 121 times and 68 times 2022 forecast earnings, respectively.\nOn the other end of the valuation spectrum in the sector are three U.S. homebuilding stocks:PulteGroup (PHM),D.R. Horton (DHI), and Lennar (LEN). Those trade for less than 8 times 2022 expected earnings.\nThe U.S. housing market has been enjoying a pandemic boom: Prices are at or near record highs in many regions, the supply of homes for sale is tight, and homebuilders’ profits are booming. Investors, however, don’t seem to expect that to last forever.\nPulteGroup, D.R. Horton, and Lennar’s cheap valuations demonstrate what tends to happen to stocks of companies with cyclical end markets: Multiples contract toward the top of the cycle, because investors worry that things are as good as they’re going to get and the current level of earnings won’t be sustainable.\nA recent Barron’s cover story made the case for why the current housing boom could have legs, including the millennial generation aging into their home-buying years and a shortage of houses built since the financial crisis over a decade ago. Home builders’ cheap valuations make for an interesting entry point.\nTechnology stocks as a group are at 28 times next year’s estimated profits, while the sector’s cheapest stock—Western Digital (WDC)—goes for just 6.8 times. Cyclicality is behind that discount once again.\nWestern Digital operates in the highly cyclical memory chip market—periods of intense demand and high sales tend to be followed by slumps of oversupply and weaker pricing. A pandemic-era work-from-home boost to demand for computers, smartphones, and cloud infrastructure has kept inventories low and pricing high for Western Digital’s products. Investors know that won’t always be the case.\nIn the S&P 500’s cheapest sector, energy, APA (APA),Coterra Energy (CTRA), and Diamondback Energy (FANG) are the three cheapest stocks. The group as a whole goes for just over 11 times next year’s forecasted earnings, and its three cheapest members—all U.S. shale oil or gas producers—trade for between 5 and 7 times. Investors are clearly worried about the future of fossil fuels as the world moves toward renewable energy, and won’t pay up for oil and gas stocks.\nOther particularly cheap S&P 500 stocks can be found in the healthcare sector. A pair of recent pharma-company spinoffs—Viatris (VTRS), jettisoned from Pfizer (PFE) last year and merged with Mylan, and Organon (OGN), excised from Merck (MRK) last summer—trade for the lowest valuations in the entire index. Spinoffs in general haven’t done well lately, and the brand-new stocks with generic-sounding names are likely under the radar for investors that don’t focus on healthcare specifically. Barron’s is more bullish on Organon than Viatris.\nThe two cheapest stocks in the S&P 500 communications services sector are also in the midst of major M&A:AT&T (T) and Discovery (DISCA). Both trade for close to 7.5 next year’s expected earnings, versus their sector’s average of 20.8 times. AT&T will spin off its WarnerMedia subsidiary around the middle of next year and merge it with Discovery, returning the storied American company to its telecom roots. Both companies will have much to prove, and many investors may be waiting until the transactions close next year to pick their pure-play bet: streaming entertainment via Discovery, or wired and wireless telecommunications services via AT&T.","news_type":1,"symbols_score_info":{"MO":0.9,"HPE":0.9,"T":0.9,"PHM":0.9,"ALK":0.9,"COF":0.9,"SRE":0.9,"MOS":0.9,"WDC":0.9,"LEN":0.9,"WBA":0.9,"DAL":0.9,"VTRS":0.9,"DISCA":0.9,"CBRE":0.9,"SPG":0.9,"APA":0.9,"CF":0.9,"EIX":0.9,"LNC":0.9,"OGN":0.9,"LUMN":0.9,"IVZ":0.9,"CMI":0.9,"LYB":0.9,"FANG":0.9,"CTRA":0.9,"DHI":0.9,"WU":0.9,"BMY":0.9,"TAP":0.9,"NRG":0.9,"VNO":0.9}},"isVote":1,"tweetType":1,"viewCount":3963,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602597192,"gmtCreate":1639038618241,"gmtModify":1639038618241,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great 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it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/608318960","repostId":"1140678193","repostType":4,"isVote":1,"tweetType":1,"viewCount":3180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601606617,"gmtCreate":1638517234746,"gmtModify":1638517234746,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601606617","repostId":"1110450425","repostType":4,"repost":{"id":"1110450425","kind":"news","pubTimestamp":1638515794,"share":"https://www.laohu8.com/m/news/1110450425?lang=zh_CN&edition=full","pubTime":"2021-12-03 15:16","market":"us","language":"en","title":"3 Surefire Growth Stocks to Buy in December<blockquote>12月值得买入的3只万无一失的成长型股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1110450425","media":"Motley Fool","summary":"Patience will pay off handsomely if investors buy into this innovative trio.","content":"<p>Since the end of the Great Recession more than 12 years ago,growth stocks&nbsp;have been dominant. Historically low lending rates and a persistently dovish U.S. central bank have given fast-paced companies access to cheap capital that they've used to hire, acquire, and innovate.</p><p><blockquote>自12年前大衰退结束以来，成长型股票一直占据主导地位。历史上较低的贷款利率和持续鸽派的美联储让快节奏的公司能够获得廉价资本，用于招聘、收购和创新。</blockquote></p><p> The thing is, even with growth stocks responsible for pushing the stock market to new heights, great deals can still be found. For long-term investors, the following three surefire growth stocks are all bargains that can be confidently bought in December.</p><p><blockquote>问题是，即使成长型股票将股市推向新的高度，仍然可以找到很好的交易。对于长期投资者来说，以下三只万无一失的成长股都是12月可以放心买入的便宜货。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f15900ffc21bc761d72f7b1e71e83010\" tg-width=\"2000\" tg-height=\"1399\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Square</b></p><p><blockquote><b>平方</b></blockquote></p><p> The first surefire growth stock patient investors can load up on in December following a 25% pullback since August is fintech-giant&nbsp;<b>Square</b>.</p><p><blockquote>自8月以来回调25%后，耐心的投资者在12月可以买入的第一只万无一失的成长型股票是金融科技巨头<b>平方</b>.</blockquote></p><p> For the past couple of months, Square has come under pressure for a variety of reasons. There's worry about the role cryptocurrencies might play in the payments space, and more recently, there's concern about higher-inflation rates adversely impacting consumer spending. Growth stocks with hefty premiums tend to get hit hardest when inflation picks up.</p><p><blockquote>在过去的几个月里，Square因各种原因面临压力。人们担心加密货币可能在支付领域发挥的作用，最近，人们担心更高的通胀率会对消费者支出产生不利影响。当通胀回升时，溢价较高的成长型股票往往会受到最严重的打击。</blockquote></p><p> While these might be tangible concerns for some&nbsp;fintech stocks, Square has demonstrated it's in a class of its own -- which is why it carries such a lofty valuation premium.</p><p><blockquote>虽然这些可能是一些金融科技股票的切实担忧，但Square已经证明它是独一无二的——这就是为什么它具有如此高的估值溢价。</blockquote></p><p> For more than a decade, the company has relied on its seller ecosystem as its&nbsp;bread-and-butter growth source. This segment is what provides point-of-sale solutions, loans, and analytics to help businesses succeed. In the seven years leading up to the pandemic, the gross payment volume (GPV) transacted on Square's network grew by an annualized average of 49% from $6.5 billion to $106.2 billion. Based on Square's third-quarter GPV of $41.7 billion, the company has an annual run-rate of almost $167 billion.</p><p><blockquote>十多年来，该公司一直依赖其卖家生态系统作为其主要增长来源。该部门提供销售点解决方案、贷款和分析，以帮助企业取得成功。在疫情爆发前的七年里，Square网络上交易的总支付额(GPV)年均增长49%，从65亿美元增至1,062亿美元。根据Square第三季度417亿美元的GPV计算，该公司的年运营率接近1670亿美元。</blockquote></p><p> What's remarkable about the seller ecosystem is its incorporation of bigger businesses. Once a tool used almost exclusively by small/independent merchants, two-thirds of Square's Q3 GPV originated from sellers with at least $125,000 in annualized GPV. Since the seller ecosystem is predominantly a fee-driven segment, this steady shift will gradually increase gross profits over time.</p><p><blockquote>卖家生态系统的非凡之处在于它整合了更大的企业。Square曾经是一个几乎只被小型/独立商家使用的工具，但其第三季度GPV的三分之二来自年化GPV至少为12.5万美元的卖家。由于卖家生态系统主要是一个费用驱动的细分市场，这种稳定的转变将随着时间的推移逐渐增加毛利润。</blockquote></p><p> But the long-term growth opportunity that should make Square a surefire investment is its digital peer-to-peer payment platform, Cash App. In just a three-year stretch ending Dec. 31, 2020, Cash App's monthly active user (MAU) count&nbsp;more than quintupled&nbsp;from 7 million to 36 million.</p><p><blockquote>但使Square成为万无一失的投资的长期增长机会是其数字点对点支付平台Cash App。在截至2020年12月31日的短短三年内，Cash App的月活跃用户(MAU)数量增加了五倍多，从700万增加到3600万。</blockquote></p><p> What makes Cash App so intriguing is its margins. In the June-ended quarter, Square noted in its shareholder letter that it was generating $55 in gross profit per monthly transacting active customer, yet was spending around $5 to acquire each Cash App MAU. There's little question that Cash App will blow past the seller ecosystem in terms of profit potential over the long run.</p><p><blockquote>Cash App之所以如此吸引人，是因为它的利润率。在截至6月的季度中，Square在股东信中指出，它每月交易活跃客户的毛利润为55美元，但收购每个Cash App MAU的成本约为5美元。毫无疑问，从长远来看，Cash App的利润潜力将超越卖家生态系统。</blockquote></p><p> The&nbsp;icing on the cake for Square&nbsp;is its pending $29 billion acquisition of \"buy now, pay later\" company&nbsp;<b>Afterpay</b>. Purchasing Afterpay will create a closed-loop payment system that connects the seller ecosystem with Cash App. This pricey deal is ultimately geared at growing its ecosystem and bolstering long-term margins.</p><p><blockquote>Square的锦上添花是其即将以290亿美元收购“先买后付”公司<b>Afterpay</b>.Purchasing Afterpay将创建一个闭环支付系统，将卖家生态系统与Cash App连接起来。这笔昂贵的交易最终是为了发展其生态系统并提高长期利润。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2644af4464af927edb622f1f17d1727d\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Novavax</b></p><p><blockquote><b>Novavax</b></blockquote></p><p> Another surefire growth stock investors can confidently pile into in December is drug-developer&nbsp;<b>Novavax</b>.</p><p><blockquote>投资者可以在12月份自信地买入的另一只万无一失的成长型股票是药物开发商<b>Novavax</b>.</blockquote></p><p> Novavax is one of what's seemingly become an army of drugmakers angling to produce a coronavirus disease 2019 (COVID-19) vaccine or treatment. But unlike most of the crowd, the company's lead vaccine (NVX-CoV2373) appears to be in the upper echelon of effectiveness.</p><p><blockquote>Novavax似乎是致力于生产冠状病毒疾病2019（COVID-19）疫苗或治疗方法的制药商大军之一。但与大多数人群不同的是，该公司的领先疫苗（NVX-CoV2373）似乎处于有效性的上层。</blockquote></p><p> In March and June, Novavax released the results of two large-scale studies involving its COVID-19 vaccine. In the U.K. trial, NVX-CoV2373 produced an 89.7% vaccine efficacy (VE), which included the original strain of the SARS-CoV-2 virus that causes COVID-19, as well as the U.K. variant. There was also the U.S./Mexico phase 3 trial, which produced a 90.4% VE. With the exception of&nbsp;<b>Moderna</b>&nbsp;and&nbsp;<b>Pfizer</b>/<b>BioNTech</b>, whose initial large-scale U.S. trials yielded respective VEs of 94.1% and 95%, Novavax looks as if it'll slide in as the clear No. 3 option in the COVID-19 vaccine space.</p><p><blockquote>3月和6月，Novavax发布了两项涉及其新冠疫苗的大规模研究结果。在英国试验中，NVX-CoV2373产生了89.7%的疫苗效力(VE)，其中包括导致COVID-19的新型冠状病毒病毒原始毒株以及英国变种。还有美国/墨西哥的3期试验，产生了90.4%的VE。除了<b>现代</b>和<b>辉瑞</b>/<b>BioNTech</b>Novavax在美国的初步大规模试验分别产生了94.1%和95%的VE，看起来它似乎将成为COVID-19疫苗领域的第三大选择。</blockquote></p><p> Despite these positive clinical results, Novavax's share price has more or less gone nowhere since late January. This has to do with emergency-use authorization (EUA) filing delays in key markets, as well as production setbacks. Wall Street and investors have been quick to pounce on any delays in bringing NVX-CoV2373 to market.</p><p><blockquote>尽管取得了这些积极的临床结果，但Novavax的股价自1月底以来或多或少没有任何进展。这与主要市场的紧急使用授权（EUA）申请延迟以及生产挫折有关。华尔街和投资者很快就抓住了NVX-CoV2373上市的任何延误。</blockquote></p><p></p><p> However, Novavax looks like it's&nbsp;working through many of its delays. It was recently granted its first EUAs in Indonesia and the Philippines and has filed for the equivalent of EUA approval with the World Health Organization, Canada, Australia, and the U.K., to name a few key markets.</p><p><blockquote>然而，Novavax看起来正在解决许多延误问题。它最近在印度尼西亚和菲律宾获得了第一个EUA，并向世界卫生组织、加拿大、澳大利亚和英国等主要市场申请了相当于EUA的批准。</blockquote></p><p> It's important for investors to understand that COVID-19 has the look of an endemic illness. The mutability of the virus, coupled with the need to vaccinate billions of additional people worldwide, makes it highly likely that Novavax will&nbsp;generate recurring revenue from this indication, rather than a one-time pop from initial inoculations.</p><p><blockquote>对于投资者来说，重要的是要了解COVID-19看起来像一种地方病。该病毒的可变性，加上需要为全球数十亿额外的人接种疫苗，使得Novavax极有可能从这一适应症中产生经常性收入，而不是从初始接种中一次性获得收入。</blockquote></p><p> The Novavax growth story should also&nbsp;blossom, thanks to innovation. It's one of the leading candidates to develop a combination COVID-19/influenza vaccine and bring it to market faster than its peers.</p><p><blockquote>得益于创新，Novavax的增长故事也应该蓬勃发展。它是开发新冠肺炎/流感联合疫苗并比同行更快地将其推向市场的领先候选者之一。</blockquote></p><p> All of these factors make Novavax a screaming bargain in the&nbsp;biotech space.</p><p><blockquote>所有这些因素使Novavax在生物技术领域成为一个令人尖叫的便宜货。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/daba772eacee266463194db26d926d00\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Pinterest</b></p><p><blockquote><b>Pinterest</b></blockquote></p><p> A third surefire growth stock to buy in December is social-media platform&nbsp;&nbsp;<b>Pinterest</b>.</p><p><blockquote>12月值得购买的第三只万无一失的成长型股票是社交媒体平台<b>Pinterest</b>.</blockquote></p><p> There's no sugarcoating that&nbsp;Pinterest has been a dud in 2021. Its shares are down almost 40% year to date, with the stock teetering on a 14-month low. This weakness is the result of Pinterest's MAU declining on a sequential basis for each of the past two quarters (from 478 million in Q1 2021 to 444 million in Q3 2021).</p><p><blockquote>毫无疑问，Pinterest在2021年是一个哑弹。今年迄今为止，其股价已下跌近40%，徘徊在14个月低点。这种疲软是Pinterest过去两个季度的月活跃用户数环比下降的结果（从2021年第一季度的4.78亿下降到2021年第三季度的4.44亿）。</blockquote></p><p> To state the obvious, Pinterest was never going to maintain its rate of MAU growth achieved during the pandemic. With COVID-19 vaccination rates picking up in developed markets, it's not a surprise to see people getting out of the house more often. But it's worthwhile noting that, when examined over a three-or-five-year period, Pinterest's MAU growth remains within historic norms.</p><p><blockquote>显而易见的是，Pinterest永远不会保持大流行期间实现的月活跃用户数增长率。随着发达市场新冠肺炎疫苗接种率的上升，人们更频繁地走出家门也就不足为奇了。但值得注意的是，从三五年的时间来看，Pinterest的月活跃用户数增长仍保持在历史正常范围内。</blockquote></p><p> What's far more important for investors to recognize is that, even with more modest near-term MAU growth, we're seeing&nbsp;almost no slowdown in the monetization of Pinterest's user base. In the September-ended quarter, global average revenue per user (ARPU) jumped 37%, while international ARPU skyrocketed 81%. International ARPU remains low enough ($0.38 in Q3) that it can double many times over this decade and fuel sustainable double-digit growth.</p><p><blockquote>对于投资者来说，更重要的是要认识到，即使近期月活跃用户增长较为温和，我们也没有看到Pinterest用户群的货币化几乎没有放缓。截至9月的季度，全球每用户平均收入(ARPU)跃升37%，而国际ARPU飙升81%。国际ARPU仍然足够低（第三季度为0.38美元），在这十年中可以翻一番，并推动可持续的两位数增长。</blockquote></p><p> What's made Pinterest a desirable place for advertisers is its&nbsp;transparent operating model. Whereas other social media platforms gather information with likes and users' search histories, the entire premise of Pinterest is for users to post about the things, places, and services that interest them. With this important data in hand, Pinterest merely needs to connect users with the merchants who can meet their needs. It's a no-brainer that merchants are going to be willing to spend big to reach motivated shoppers.</p><p><blockquote>Pinterest之所以成为广告商向往的地方，是因为其透明的运营模式。其他社交媒体平台通过喜欢和用户的搜索历史来收集信息，而Pinterest的整个前提是让用户发布他们感兴趣的事物、地点和服务。有了这些重要数据，Pinterest只需要将用户与能够满足他们需求的商家联系起来。显而易见，商家愿意花大价钱来吸引有积极性的购物者。</blockquote></p><p> Following its retracement, Pinterest is downright inexpensive. It can be scooped up for 30 times Wall Street's forecast earnings per share for 2022, yet is still growing sales by 25% or more annually. It's the perfect growth stock to add in December and&nbsp;hang onto over the next 5 to 10 years.</p><p><blockquote>回撤后，Pinterest的价格非常便宜。它的股价是华尔街2022年每股收益预测的30倍，但销售额仍以每年25%或更多的速度增长。这是12月份增持并在未来5到10年内持有的完美成长型股票。</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>3 Surefire Growth Stocks to Buy in December<blockquote>12月值得买入的3只万无一失的成长型股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Surefire Growth Stocks to Buy in December<blockquote>12月值得买入的3只万无一失的成长型股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-12-03 15:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Since the end of the Great Recession more than 12 years ago,growth stocks&nbsp;have been dominant. Historically low lending rates and a persistently dovish U.S. central bank have given fast-paced companies access to cheap capital that they've used to hire, acquire, and innovate.</p><p><blockquote>自12年前大衰退结束以来，成长型股票一直占据主导地位。历史上较低的贷款利率和持续鸽派的美联储让快节奏的公司能够获得廉价资本，用于招聘、收购和创新。</blockquote></p><p> The thing is, even with growth stocks responsible for pushing the stock market to new heights, great deals can still be found. For long-term investors, the following three surefire growth stocks are all bargains that can be confidently bought in December.</p><p><blockquote>问题是，即使成长型股票将股市推向新的高度，仍然可以找到很好的交易。对于长期投资者来说，以下三只万无一失的成长股都是12月可以放心买入的便宜货。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f15900ffc21bc761d72f7b1e71e83010\" tg-width=\"2000\" tg-height=\"1399\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Square</b></p><p><blockquote><b>平方</b></blockquote></p><p> The first surefire growth stock patient investors can load up on in December following a 25% pullback since August is fintech-giant&nbsp;<b>Square</b>.</p><p><blockquote>自8月以来回调25%后，耐心的投资者在12月可以买入的第一只万无一失的成长型股票是金融科技巨头<b>平方</b>.</blockquote></p><p> For the past couple of months, Square has come under pressure for a variety of reasons. There's worry about the role cryptocurrencies might play in the payments space, and more recently, there's concern about higher-inflation rates adversely impacting consumer spending. Growth stocks with hefty premiums tend to get hit hardest when inflation picks up.</p><p><blockquote>在过去的几个月里，Square因各种原因面临压力。人们担心加密货币可能在支付领域发挥的作用，最近，人们担心更高的通胀率会对消费者支出产生不利影响。当通胀回升时，溢价较高的成长型股票往往会受到最严重的打击。</blockquote></p><p> While these might be tangible concerns for some&nbsp;fintech stocks, Square has demonstrated it's in a class of its own -- which is why it carries such a lofty valuation premium.</p><p><blockquote>虽然这些可能是一些金融科技股票的切实担忧，但Square已经证明它是独一无二的——这就是为什么它具有如此高的估值溢价。</blockquote></p><p> For more than a decade, the company has relied on its seller ecosystem as its&nbsp;bread-and-butter growth source. This segment is what provides point-of-sale solutions, loans, and analytics to help businesses succeed. In the seven years leading up to the pandemic, the gross payment volume (GPV) transacted on Square's network grew by an annualized average of 49% from $6.5 billion to $106.2 billion. Based on Square's third-quarter GPV of $41.7 billion, the company has an annual run-rate of almost $167 billion.</p><p><blockquote>十多年来，该公司一直依赖其卖家生态系统作为其主要增长来源。该部门提供销售点解决方案、贷款和分析，以帮助企业取得成功。在疫情爆发前的七年里，Square网络上交易的总支付额(GPV)年均增长49%，从65亿美元增至1,062亿美元。根据Square第三季度417亿美元的GPV计算，该公司的年运营率接近1670亿美元。</blockquote></p><p> What's remarkable about the seller ecosystem is its incorporation of bigger businesses. Once a tool used almost exclusively by small/independent merchants, two-thirds of Square's Q3 GPV originated from sellers with at least $125,000 in annualized GPV. Since the seller ecosystem is predominantly a fee-driven segment, this steady shift will gradually increase gross profits over time.</p><p><blockquote>卖家生态系统的非凡之处在于它整合了更大的企业。Square曾经是一个几乎只被小型/独立商家使用的工具，但其第三季度GPV的三分之二来自年化GPV至少为12.5万美元的卖家。由于卖家生态系统主要是一个费用驱动的细分市场，这种稳定的转变将随着时间的推移逐渐增加毛利润。</blockquote></p><p> But the long-term growth opportunity that should make Square a surefire investment is its digital peer-to-peer payment platform, Cash App. In just a three-year stretch ending Dec. 31, 2020, Cash App's monthly active user (MAU) count&nbsp;more than quintupled&nbsp;from 7 million to 36 million.</p><p><blockquote>但使Square成为万无一失的投资的长期增长机会是其数字点对点支付平台Cash App。在截至2020年12月31日的短短三年内，Cash App的月活跃用户(MAU)数量增加了五倍多，从700万增加到3600万。</blockquote></p><p> What makes Cash App so intriguing is its margins. In the June-ended quarter, Square noted in its shareholder letter that it was generating $55 in gross profit per monthly transacting active customer, yet was spending around $5 to acquire each Cash App MAU. There's little question that Cash App will blow past the seller ecosystem in terms of profit potential over the long run.</p><p><blockquote>Cash App之所以如此吸引人，是因为它的利润率。在截至6月的季度中，Square在股东信中指出，它每月交易活跃客户的毛利润为55美元，但收购每个Cash App MAU的成本约为5美元。毫无疑问，从长远来看，Cash App的利润潜力将超越卖家生态系统。</blockquote></p><p> The&nbsp;icing on the cake for Square&nbsp;is its pending $29 billion acquisition of \"buy now, pay later\" company&nbsp;<b>Afterpay</b>. Purchasing Afterpay will create a closed-loop payment system that connects the seller ecosystem with Cash App. This pricey deal is ultimately geared at growing its ecosystem and bolstering long-term margins.</p><p><blockquote>Square的锦上添花是其即将以290亿美元收购“先买后付”公司<b>Afterpay</b>.Purchasing Afterpay将创建一个闭环支付系统，将卖家生态系统与Cash App连接起来。这笔昂贵的交易最终是为了发展其生态系统并提高长期利润。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2644af4464af927edb622f1f17d1727d\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Novavax</b></p><p><blockquote><b>Novavax</b></blockquote></p><p> Another surefire growth stock investors can confidently pile into in December is drug-developer&nbsp;<b>Novavax</b>.</p><p><blockquote>投资者可以在12月份自信地买入的另一只万无一失的成长型股票是药物开发商<b>Novavax</b>.</blockquote></p><p> Novavax is one of what's seemingly become an army of drugmakers angling to produce a coronavirus disease 2019 (COVID-19) vaccine or treatment. But unlike most of the crowd, the company's lead vaccine (NVX-CoV2373) appears to be in the upper echelon of effectiveness.</p><p><blockquote>Novavax似乎是致力于生产冠状病毒疾病2019（COVID-19）疫苗或治疗方法的制药商大军之一。但与大多数人群不同的是，该公司的领先疫苗（NVX-CoV2373）似乎处于有效性的上层。</blockquote></p><p> In March and June, Novavax released the results of two large-scale studies involving its COVID-19 vaccine. In the U.K. trial, NVX-CoV2373 produced an 89.7% vaccine efficacy (VE), which included the original strain of the SARS-CoV-2 virus that causes COVID-19, as well as the U.K. variant. There was also the U.S./Mexico phase 3 trial, which produced a 90.4% VE. With the exception of&nbsp;<b>Moderna</b>&nbsp;and&nbsp;<b>Pfizer</b>/<b>BioNTech</b>, whose initial large-scale U.S. trials yielded respective VEs of 94.1% and 95%, Novavax looks as if it'll slide in as the clear No. 3 option in the COVID-19 vaccine space.</p><p><blockquote>3月和6月，Novavax发布了两项涉及其新冠疫苗的大规模研究结果。在英国试验中，NVX-CoV2373产生了89.7%的疫苗效力(VE)，其中包括导致COVID-19的新型冠状病毒病毒原始毒株以及英国变种。还有美国/墨西哥的3期试验，产生了90.4%的VE。除了<b>现代</b>和<b>辉瑞</b>/<b>BioNTech</b>Novavax在美国的初步大规模试验分别产生了94.1%和95%的VE，看起来它似乎将成为COVID-19疫苗领域的第三大选择。</blockquote></p><p> Despite these positive clinical results, Novavax's share price has more or less gone nowhere since late January. This has to do with emergency-use authorization (EUA) filing delays in key markets, as well as production setbacks. Wall Street and investors have been quick to pounce on any delays in bringing NVX-CoV2373 to market.</p><p><blockquote>尽管取得了这些积极的临床结果，但Novavax的股价自1月底以来或多或少没有任何进展。这与主要市场的紧急使用授权（EUA）申请延迟以及生产挫折有关。华尔街和投资者很快就抓住了NVX-CoV2373上市的任何延误。</blockquote></p><p></p><p> However, Novavax looks like it's&nbsp;working through many of its delays. It was recently granted its first EUAs in Indonesia and the Philippines and has filed for the equivalent of EUA approval with the World Health Organization, Canada, Australia, and the U.K., to name a few key markets.</p><p><blockquote>然而，Novavax看起来正在解决许多延误问题。它最近在印度尼西亚和菲律宾获得了第一个EUA，并向世界卫生组织、加拿大、澳大利亚和英国等主要市场申请了相当于EUA的批准。</blockquote></p><p> It's important for investors to understand that COVID-19 has the look of an endemic illness. The mutability of the virus, coupled with the need to vaccinate billions of additional people worldwide, makes it highly likely that Novavax will&nbsp;generate recurring revenue from this indication, rather than a one-time pop from initial inoculations.</p><p><blockquote>对于投资者来说，重要的是要了解COVID-19看起来像一种地方病。该病毒的可变性，加上需要为全球数十亿额外的人接种疫苗，使得Novavax极有可能从这一适应症中产生经常性收入，而不是从初始接种中一次性获得收入。</blockquote></p><p> The Novavax growth story should also&nbsp;blossom, thanks to innovation. It's one of the leading candidates to develop a combination COVID-19/influenza vaccine and bring it to market faster than its peers.</p><p><blockquote>得益于创新，Novavax的增长故事也应该蓬勃发展。它是开发新冠肺炎/流感联合疫苗并比同行更快地将其推向市场的领先候选者之一。</blockquote></p><p> All of these factors make Novavax a screaming bargain in the&nbsp;biotech space.</p><p><blockquote>所有这些因素使Novavax在生物技术领域成为一个令人尖叫的便宜货。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/daba772eacee266463194db26d926d00\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Pinterest</b></p><p><blockquote><b>Pinterest</b></blockquote></p><p> A third surefire growth stock to buy in December is social-media platform&nbsp;&nbsp;<b>Pinterest</b>.</p><p><blockquote>12月值得购买的第三只万无一失的成长型股票是社交媒体平台<b>Pinterest</b>.</blockquote></p><p> There's no sugarcoating that&nbsp;Pinterest has been a dud in 2021. Its shares are down almost 40% year to date, with the stock teetering on a 14-month low. This weakness is the result of Pinterest's MAU declining on a sequential basis for each of the past two quarters (from 478 million in Q1 2021 to 444 million in Q3 2021).</p><p><blockquote>毫无疑问，Pinterest在2021年是一个哑弹。今年迄今为止，其股价已下跌近40%，徘徊在14个月低点。这种疲软是Pinterest过去两个季度的月活跃用户数环比下降的结果（从2021年第一季度的4.78亿下降到2021年第三季度的4.44亿）。</blockquote></p><p> To state the obvious, Pinterest was never going to maintain its rate of MAU growth achieved during the pandemic. With COVID-19 vaccination rates picking up in developed markets, it's not a surprise to see people getting out of the house more often. But it's worthwhile noting that, when examined over a three-or-five-year period, Pinterest's MAU growth remains within historic norms.</p><p><blockquote>显而易见的是，Pinterest永远不会保持大流行期间实现的月活跃用户数增长率。随着发达市场新冠肺炎疫苗接种率的上升，人们更频繁地走出家门也就不足为奇了。但值得注意的是，从三五年的时间来看，Pinterest的月活跃用户数增长仍保持在历史正常范围内。</blockquote></p><p> What's far more important for investors to recognize is that, even with more modest near-term MAU growth, we're seeing&nbsp;almost no slowdown in the monetization of Pinterest's user base. In the September-ended quarter, global average revenue per user (ARPU) jumped 37%, while international ARPU skyrocketed 81%. International ARPU remains low enough ($0.38 in Q3) that it can double many times over this decade and fuel sustainable double-digit growth.</p><p><blockquote>对于投资者来说，更重要的是要认识到，即使近期月活跃用户增长较为温和，我们也没有看到Pinterest用户群的货币化几乎没有放缓。截至9月的季度，全球每用户平均收入(ARPU)跃升37%，而国际ARPU飙升81%。国际ARPU仍然足够低（第三季度为0.38美元），在这十年中可以翻一番，并推动可持续的两位数增长。</blockquote></p><p> What's made Pinterest a desirable place for advertisers is its&nbsp;transparent operating model. Whereas other social media platforms gather information with likes and users' search histories, the entire premise of Pinterest is for users to post about the things, places, and services that interest them. With this important data in hand, Pinterest merely needs to connect users with the merchants who can meet their needs. It's a no-brainer that merchants are going to be willing to spend big to reach motivated shoppers.</p><p><blockquote>Pinterest之所以成为广告商向往的地方，是因为其透明的运营模式。其他社交媒体平台通过喜欢和用户的搜索历史来收集信息，而Pinterest的整个前提是让用户发布他们感兴趣的事物、地点和服务。有了这些重要数据，Pinterest只需要将用户与能够满足他们需求的商家联系起来。显而易见，商家愿意花大价钱来吸引有积极性的购物者。</blockquote></p><p> Following its retracement, Pinterest is downright inexpensive. It can be scooped up for 30 times Wall Street's forecast earnings per share for 2022, yet is still growing sales by 25% or more annually. It's the perfect growth stock to add in December and&nbsp;hang onto over the next 5 to 10 years.</p><p><blockquote>回撤后，Pinterest的价格非常便宜。它的股价是华尔街2022年每股收益预测的30倍，但销售额仍以每年25%或更多的速度增长。这是12月份增持并在未来5到10年内持有的完美成长型股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/12/02/3-surefire-growth-stocks-to-buy-in-december/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVAX":"诺瓦瓦克斯医药","PINS":"Pinterest, Inc."},"source_url":"https://www.fool.com/investing/2021/12/02/3-surefire-growth-stocks-to-buy-in-december/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110450425","content_text":"Since the end of the Great Recession more than 12 years ago,growth stocks have been dominant. Historically low lending rates and a persistently dovish U.S. central bank have given fast-paced companies access to cheap capital that they've used to hire, acquire, and innovate.\nThe thing is, even with growth stocks responsible for pushing the stock market to new heights, great deals can still be found. For long-term investors, the following three surefire growth stocks are all bargains that can be confidently bought in December.\nImage source: Getty Images.\nSquare\nThe first surefire growth stock patient investors can load up on in December following a 25% pullback since August is fintech-giant Square.\nFor the past couple of months, Square has come under pressure for a variety of reasons. There's worry about the role cryptocurrencies might play in the payments space, and more recently, there's concern about higher-inflation rates adversely impacting consumer spending. Growth stocks with hefty premiums tend to get hit hardest when inflation picks up.\nWhile these might be tangible concerns for some fintech stocks, Square has demonstrated it's in a class of its own -- which is why it carries such a lofty valuation premium.\nFor more than a decade, the company has relied on its seller ecosystem as its bread-and-butter growth source. This segment is what provides point-of-sale solutions, loans, and analytics to help businesses succeed. In the seven years leading up to the pandemic, the gross payment volume (GPV) transacted on Square's network grew by an annualized average of 49% from $6.5 billion to $106.2 billion. Based on Square's third-quarter GPV of $41.7 billion, the company has an annual run-rate of almost $167 billion.\nWhat's remarkable about the seller ecosystem is its incorporation of bigger businesses. Once a tool used almost exclusively by small/independent merchants, two-thirds of Square's Q3 GPV originated from sellers with at least $125,000 in annualized GPV. Since the seller ecosystem is predominantly a fee-driven segment, this steady shift will gradually increase gross profits over time.\nBut the long-term growth opportunity that should make Square a surefire investment is its digital peer-to-peer payment platform, Cash App. In just a three-year stretch ending Dec. 31, 2020, Cash App's monthly active user (MAU) count more than quintupled from 7 million to 36 million.\nWhat makes Cash App so intriguing is its margins. In the June-ended quarter, Square noted in its shareholder letter that it was generating $55 in gross profit per monthly transacting active customer, yet was spending around $5 to acquire each Cash App MAU. There's little question that Cash App will blow past the seller ecosystem in terms of profit potential over the long run.\nThe icing on the cake for Square is its pending $29 billion acquisition of \"buy now, pay later\" company Afterpay. Purchasing Afterpay will create a closed-loop payment system that connects the seller ecosystem with Cash App. This pricey deal is ultimately geared at growing its ecosystem and bolstering long-term margins.\nImage source: Getty Images.\nNovavax\nAnother surefire growth stock investors can confidently pile into in December is drug-developer Novavax.\nNovavax is one of what's seemingly become an army of drugmakers angling to produce a coronavirus disease 2019 (COVID-19) vaccine or treatment. But unlike most of the crowd, the company's lead vaccine (NVX-CoV2373) appears to be in the upper echelon of effectiveness.\nIn March and June, Novavax released the results of two large-scale studies involving its COVID-19 vaccine. In the U.K. trial, NVX-CoV2373 produced an 89.7% vaccine efficacy (VE), which included the original strain of the SARS-CoV-2 virus that causes COVID-19, as well as the U.K. variant. There was also the U.S./Mexico phase 3 trial, which produced a 90.4% VE. With the exception of Moderna and Pfizer/BioNTech, whose initial large-scale U.S. trials yielded respective VEs of 94.1% and 95%, Novavax looks as if it'll slide in as the clear No. 3 option in the COVID-19 vaccine space.\nDespite these positive clinical results, Novavax's share price has more or less gone nowhere since late January. This has to do with emergency-use authorization (EUA) filing delays in key markets, as well as production setbacks. Wall Street and investors have been quick to pounce on any delays in bringing NVX-CoV2373 to market.\nHowever, Novavax looks like it's working through many of its delays. It was recently granted its first EUAs in Indonesia and the Philippines and has filed for the equivalent of EUA approval with the World Health Organization, Canada, Australia, and the U.K., to name a few key markets.\nIt's important for investors to understand that COVID-19 has the look of an endemic illness. The mutability of the virus, coupled with the need to vaccinate billions of additional people worldwide, makes it highly likely that Novavax will generate recurring revenue from this indication, rather than a one-time pop from initial inoculations.\nThe Novavax growth story should also blossom, thanks to innovation. It's one of the leading candidates to develop a combination COVID-19/influenza vaccine and bring it to market faster than its peers.\nAll of these factors make Novavax a screaming bargain in the biotech space.\nImage source: Getty Images.\nPinterest\nA third surefire growth stock to buy in December is social-media platform  Pinterest.\nThere's no sugarcoating that Pinterest has been a dud in 2021. Its shares are down almost 40% year to date, with the stock teetering on a 14-month low. This weakness is the result of Pinterest's MAU declining on a sequential basis for each of the past two quarters (from 478 million in Q1 2021 to 444 million in Q3 2021).\nTo state the obvious, Pinterest was never going to maintain its rate of MAU growth achieved during the pandemic. With COVID-19 vaccination rates picking up in developed markets, it's not a surprise to see people getting out of the house more often. But it's worthwhile noting that, when examined over a three-or-five-year period, Pinterest's MAU growth remains within historic norms.\nWhat's far more important for investors to recognize is that, even with more modest near-term MAU growth, we're seeing almost no slowdown in the monetization of Pinterest's user base. In the September-ended quarter, global average revenue per user (ARPU) jumped 37%, while international ARPU skyrocketed 81%. International ARPU remains low enough ($0.38 in Q3) that it can double many times over this decade and fuel sustainable double-digit growth.\nWhat's made Pinterest a desirable place for advertisers is its transparent operating model. Whereas other social media platforms gather information with likes and users' search histories, the entire premise of Pinterest is for users to post about the things, places, and services that interest them. With this important data in hand, Pinterest merely needs to connect users with the merchants who can meet their needs. It's a no-brainer that merchants are going to be willing to spend big to reach motivated shoppers.\nFollowing its retracement, Pinterest is downright inexpensive. It can be scooped up for 30 times Wall Street's forecast earnings per share for 2022, yet is still growing sales by 25% or more annually. It's the perfect growth stock to add in December and hang onto over the next 5 to 10 years.","news_type":1,"symbols_score_info":{"PINS":0.9,"NVAX":0.9,"SQ":0.9}},"isVote":1,"tweetType":1,"viewCount":3463,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":603722084,"gmtCreate":1638455002481,"gmtModify":1638455002530,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603722084","repostId":"2188651547","repostType":4,"repost":{"id":"2188651547","kind":"highlight","pubTimestamp":1638454201,"share":"https://www.laohu8.com/m/news/2188651547?lang=zh_CN&edition=full","pubTime":"2021-12-02 22:10","market":"us","language":"en","title":"Here's where Citi strategists say a 'buyback boom' is coming<blockquote>花旗策略师表示，“回购热潮”即将到来</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2188651547","media":"MarketWatch","summary":"Corporate profits are set to surge next year in Europe, and along with them a big jump in stock buyb","content":"<p>Corporate profits are set to surge next year in Europe, and along with them a big jump in stock buybacks, according to strategists at Citi.</p><p><blockquote>花旗策略师表示，明年欧洲企业利润将飙升，股票回购也将大幅增加。</blockquote></p><p> Strategists led by Beata Manthey expect a 60% jump in European company earnings per share, which will help drive a 30% gain in stock buybacks.</p><p><blockquote>以Beata Manthey为首的策略师预计，欧洲公司每股收益将跃升60%，这将有助于推动股票回购增加30%。</blockquote></p><p> That's not a typical use of cash by European companies, that are more likely than their U.S. peers to return cash in the form of dividends. In 2021, Citi estimates the typical company has spent 39 cents on every euro in dividends and 9 cents on dividends. (About 46% is spent on capital expenditure, and 14% on acquisitions.)</p><p><blockquote>这不是欧洲公司典型的现金使用方式，欧洲公司比美国同行更有可能以股息的形式返还现金。花旗估计，2021年，典型公司每欧元股息支出为39美分，股息支出为9美分。（约46%用于资本支出，14%用于收购。）</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e9ecc21548e2cee38a77a56c2b26e43a\" tg-width=\"700\" tg-height=\"452\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> \"The overall story is that dividends picked up sharply this year, but buybacks should rise most next. Our forecasts suggest the European dividend:buyback ratio will be 2.6 :1 in 2022, down from 3.3 :1 in 2021. But this is still very different to the US 0.7:1 dividend:buyback ratio,\" said the analysts.</p><p><blockquote>“总体情况是，今年股息大幅上升，但明年回购应该会上升最多。我们的预测表明，2022年欧洲股息与回购比率将为2.6：1，低于2021年的3.3：1。但这仍然与美国0.7：1的股息与回购比率非常不同，”分析师表示。</blockquote></p><p> European stocks traded lower Thursday, as traders priced in the late-session swoon on Wall Street on Wednesday.</p><p><blockquote>欧洲股市周四走低，因周三华尔街尾盘交易员定价低迷。</blockquote></p><p> The Stoxx Europe 600 fell 1.5% to 463.72.</p><p><blockquote>欧洲斯托克600指数下跌1.5%，至463.72点。</blockquote></p><p> Of the major regional indexes, the German DAX declined 1.6%, the French CAC 40 declined 1.3% and the U.K. FTSE 100 fell 0.9%.</p><p><blockquote>主要地区指数中，德国DAX指数下跌1.6%，法国CAC 40指数下跌1.3%，英国富时100指数下跌0.9%。</blockquote></p><p> Vifor Pharma jumped 19% after the Australian newspaper reported CSL is in exclusive talks to buy the Swiss company.</p><p><blockquote>澳大利亚报纸报道CSL正在就收购这家瑞士公司进行独家谈判后，Vifor Pharma股价上涨19%。</blockquote></p><p> The food delivery sector took a beating, with shares of Deliveroo , Just Eat Takeaway.com and Delivery Hero&nbsp;each retreating.</p><p><blockquote>食品配送行业遭受重创，户户送、Just Eat Takeaway.com和Delivery Hero的股价均下跌。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's where Citi strategists say a 'buyback boom' is coming<blockquote>花旗策略师表示，“回购热潮”即将到来</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\">\nHere's where Citi strategists say a 'buyback boom' is coming<blockquote>花旗策略师表示，“回购热潮”即将到来</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-12-02 22:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Corporate profits are set to surge next year in Europe, and along with them a big jump in stock buybacks, according to strategists at Citi.</p><p><blockquote>花旗策略师表示，明年欧洲企业利润将飙升，股票回购也将大幅增加。</blockquote></p><p> Strategists led by Beata Manthey expect a 60% jump in European company earnings per share, which will help drive a 30% gain in stock buybacks.</p><p><blockquote>以Beata Manthey为首的策略师预计，欧洲公司每股收益将跃升60%，这将有助于推动股票回购增加30%。</blockquote></p><p> That's not a typical use of cash by European companies, that are more likely than their U.S. peers to return cash in the form of dividends. In 2021, Citi estimates the typical company has spent 39 cents on every euro in dividends and 9 cents on dividends. (About 46% is spent on capital expenditure, and 14% on acquisitions.)</p><p><blockquote>这不是欧洲公司典型的现金使用方式，欧洲公司比美国同行更有可能以股息的形式返还现金。花旗估计，2021年，典型公司每欧元股息支出为39美分，股息支出为9美分。（约46%用于资本支出，14%用于收购。）</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e9ecc21548e2cee38a77a56c2b26e43a\" tg-width=\"700\" tg-height=\"452\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> \"The overall story is that dividends picked up sharply this year, but buybacks should rise most next. Our forecasts suggest the European dividend:buyback ratio will be 2.6 :1 in 2022, down from 3.3 :1 in 2021. But this is still very different to the US 0.7:1 dividend:buyback ratio,\" said the analysts.</p><p><blockquote>“总体情况是，今年股息大幅上升，但明年回购应该会上升最多。我们的预测表明，2022年欧洲股息与回购比率将为2.6：1，低于2021年的3.3：1。但这仍然与美国0.7：1的股息与回购比率非常不同，”分析师表示。</blockquote></p><p> European stocks traded lower Thursday, as traders priced in the late-session swoon on Wall Street on Wednesday.</p><p><blockquote>欧洲股市周四走低，因周三华尔街尾盘交易员定价低迷。</blockquote></p><p> The Stoxx Europe 600 fell 1.5% to 463.72.</p><p><blockquote>欧洲斯托克600指数下跌1.5%，至463.72点。</blockquote></p><p> Of the major regional indexes, the German DAX declined 1.6%, the French CAC 40 declined 1.3% and the U.K. FTSE 100 fell 0.9%.</p><p><blockquote>主要地区指数中，德国DAX指数下跌1.6%，法国CAC 40指数下跌1.3%，英国富时100指数下跌0.9%。</blockquote></p><p> Vifor Pharma jumped 19% after the Australian newspaper reported CSL is in exclusive talks to buy the Swiss company.</p><p><blockquote>澳大利亚报纸报道CSL正在就收购这家瑞士公司进行独家谈判后，Vifor Pharma股价上涨19%。</blockquote></p><p> The food delivery sector took a beating, with shares of Deliveroo , Just Eat Takeaway.com and Delivery Hero&nbsp;each retreating.</p><p><blockquote>食品配送行业遭受重创，户户送、Just Eat Takeaway.com和Delivery Hero的股价均下跌。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/heres-where-citi-strategists-say-a-buyback-boom-is-coming-11638452135?mod=hp_LATEST\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","BK4007":"制药","CSL.AU":"CSL LIMITED",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/heres-where-citi-strategists-say-a-buyback-boom-is-coming-11638452135?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2188651547","content_text":"Corporate profits are set to surge next year in Europe, and along with them a big jump in stock buybacks, according to strategists at Citi.\nStrategists led by Beata Manthey expect a 60% jump in European company earnings per share, which will help drive a 30% gain in stock buybacks.\nThat's not a typical use of cash by European companies, that are more likely than their U.S. peers to return cash in the form of dividends. In 2021, Citi estimates the typical company has spent 39 cents on every euro in dividends and 9 cents on dividends. (About 46% is spent on capital expenditure, and 14% on acquisitions.)\n\n\"The overall story is that dividends picked up sharply this year, but buybacks should rise most next. Our forecasts suggest the European dividend:buyback ratio will be 2.6 :1 in 2022, down from 3.3 :1 in 2021. But this is still very different to the US 0.7:1 dividend:buyback ratio,\" said the analysts.\nEuropean stocks traded lower Thursday, as traders priced in the late-session swoon on Wall Street on Wednesday.\nThe Stoxx Europe 600 fell 1.5% to 463.72.\nOf the major regional indexes, the German DAX declined 1.6%, the French CAC 40 declined 1.3% and the U.K. FTSE 100 fell 0.9%.\nVifor Pharma jumped 19% after the Australian newspaper reported CSL is in exclusive talks to buy the Swiss company.\nThe food delivery sector took a beating, with shares of Deliveroo , Just Eat Takeaway.com and Delivery Hero each retreating.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"GNHAY":0.9,"END":0.9,"CSL.AU":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2853,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":609710795,"gmtCreate":1638324947019,"gmtModify":1638324947019,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/609710795","repostId":"1101012085","repostType":4,"isVote":1,"tweetType":1,"viewCount":3863,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":609320609,"gmtCreate":1638240746695,"gmtModify":1638240784843,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/609320609","repostId":"2187082593","repostType":4,"isVote":1,"tweetType":1,"viewCount":3463,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600513025,"gmtCreate":1638171939605,"gmtModify":1638171939704,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600513025","repostId":"1137001737","repostType":4,"repost":{"id":"1137001737","kind":"news","pubTimestamp":1638170069,"share":"https://www.laohu8.com/m/news/1137001737?lang=zh_CN&edition=full","pubTime":"2021-11-29 15:14","market":"us","language":"en","title":"GameStop: The Fun is Ending as Losses Pile Up<blockquote>游戏驿站：随着损失的增加，乐趣即将结束</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137001737","media":"InvestorPlace","summary":"GME stock slumped Tuesday as the latest bit of momentum fades","content":"<p><div> GameStop(NYSE:GME) has been one of the year’s most amazing stories. Coming into 2021, GameStop appeared to be a nearly bankrupt video game retailer stuck in a death spiral. However, thanks to social ...</p><p><blockquote><div>游戏驿站（纽约证券交易所股票代码：GME）是今年最令人惊叹的故事之一。进入2021年，游戏驿站似乎是一家濒临破产的视频游戏零售商，陷入了死亡螺旋。然而，多亏了社交...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/11/gme-stock-the-fun-is-ending-as-losses-pile-up/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/11/gme-stock-the-fun-is-ending-as-losses-pile-up/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop: The Fun is Ending as Losses Pile Up<blockquote>游戏驿站：随着损失的增加，乐趣即将结束</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\">\nGameStop: The Fun is Ending as Losses Pile Up<blockquote>游戏驿站：随着损失的增加，乐趣即将结束</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-11-29 15:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> GameStop(NYSE:GME) has been one of the year’s most amazing stories. Coming into 2021, GameStop appeared to be a nearly bankrupt video game retailer stuck in a death spiral. However, thanks to social ...</p><p><blockquote><div>游戏驿站（纽约证券交易所股票代码：GME）是今年最令人惊叹的故事之一。进入2021年，游戏驿站似乎是一家濒临破产的视频游戏零售商，陷入了死亡螺旋。然而，多亏了社交...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/11/gme-stock-the-fun-is-ending-as-losses-pile-up/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/11/gme-stock-the-fun-is-ending-as-losses-pile-up/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/11/gme-stock-the-fun-is-ending-as-losses-pile-up/\">InvestorPlace</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://investorplace.com/2021/11/gme-stock-the-fun-is-ending-as-losses-pile-up/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137001737","content_text":"GameStop(NYSE:GME) has been one of the year’s most amazing stories. Coming into 2021, GameStop appeared to be a nearly bankrupt video game retailer stuck in a death spiral. However, thanks to social media activism, GME stock flew to the moon in January.\nManagement used that opportunity to issue stock and raise sufficient cash to keep the business afloat. The company has also brought in leaders such as Ryan Cohen who can hope to get the company back on track with a new strategy.\nPerhaps under Cohen’s watch, GameStop will be able to form a digital approach to evolve its business model. While the traditional mall-based sales model is on the way out, video games are more popular than ever. There’s a chance to pivot GameStop to digital sales channels or pursue new opportunities such as e-sports or non-fungible tokens (NFTs).\nGameStop’s Disappointing Earnings\nI know meme traders don’t want to hear about earnings. However, if you are going to invest, fundamentals eventually matter. For a short period of time, a stock price can simply go up based on sentiment or technical factors. Sooner or later, however, a company actually needs to earn money or show strong growth to maintain its shareholder value. GameStop, however, is not doing this yet.\nGameStop isn’t expecting to report Q3 earnings until December. However, looking back at its Q2 earnings, they were a big mess. The company lost 85 cents per share, which was a sizable miss versus expectations. Revenues grew 25% year-over-year, which might sound good at first glance. However, it actually isn’t that big of a jump, considering that the stores were largely closed in Q2 of 2020. Economic reopening could have led to a much bigger revenue increase, particularly given the strong video game sales trend.\nOverall, for Q2, the company lost $58 million while generating $1.18 billion of sales. That’s around a negative 5% profit margin. This isn’t a disaster, by any means, but normally investors would value a small loss-making retailer like this at a low valuation ratio. Instead, GME stock is currently at a rather lofty price.\nOn a profit basis, GameStop is also exceptionally expensive. Analysts expect the company to continue losing money in 2022. In 2023, analysts see GameStop generating 15 cents per share in operating profit. This would add up to a P/E ratio of around 1,400.\nShare Price Gyrations\nClearly, GameStop isn’t rallying based on anything to do with its (poor) fundamentals. Rather, most of the action is due to short-term sentiment swings and technical factors.\nSince this spring, GameStop has traded in a range between $150 and $300 per share. It tests the edges of those ranges occasionally, but it tends to settle back to around $200 per share most of the time. It’s been frustrating for both shareholders and short sellers; both want to see a big move, but instead the stock just hangs out in its narrow area.\nOver time, however, an overvalued stock will tend to drift down toward its fair value if there are no positive catalysts to keep sentiment up. Earnings in December are likely to be bad; analysts don’t see the company making profits until 2023, after all. And the supply chain and logisitics problems may cause GameStop issues this holiday season. We’ve already seen bad earnings from other mall retailers like Gap(NYSE:GPS) which serve as a warning for the sector as a whole.\nIn November, GameStop shares rallied once again. They topped out at $250 recently. However, there was little actual news to justify such a move. Thus, not surprisingly, the surge came to an abrupt end Tuesday, as GME stock tumbled 13.6% in a single day. The meme energy has dimmed dramatically since the first GameStop squeeze back in January.\nGME Stock Verdict\nGameStop remains in a difficult position as an investment. The actual value of GameStop’s existing operating business is minimal. The company was barely surviving prior to the pandemic. And foot traffic to malls has dropped significantly since then; GameStop’s legacy brick and mortar business is not going to be a meaningful profit center for much longer.\nWill GameStop be able to develop a large sustainable online business? We still don’t know. There’s been a lot of rumors and excitement around what could be. Until some tangible signs of actual progress occur, GME stock is a gamble at best. And with the market capitalization up at $15 billion, it’s an awfully expensive lotto ticket at that.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":922,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600305507,"gmtCreate":1638063189439,"gmtModify":1638063189439,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600305507","repostId":"2186323399","repostType":4,"isVote":1,"tweetType":1,"viewCount":1234,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877836728,"gmtCreate":1637910334492,"gmtModify":1637910334492,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877836728","repostId":"2186031881","repostType":4,"repost":{"id":"2186031881","kind":"news","pubTimestamp":1637909371,"share":"https://www.laohu8.com/m/news/2186031881?lang=zh_CN&edition=full","pubTime":"2021-11-26 14:49","market":"us","language":"en","title":"5 Trillion Reasons To Be Bullish On Tesla<blockquote>5万亿个理由看好特斯拉</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2186031881","media":"Oilprice","summary":"In the latest EV sector report, the EV kingpin, Tesla Inc. (NASDAQ:TSLA), has cemented its credentia","content":"<p>In the latest EV sector report, the EV kingpin,<b> Tesla Inc.</b> (NASDAQ:TSLA), has cemented its credentials as one of the few electric vehicle manufacturers ready to challenge the ICE hegemony.</p><p><blockquote>在最新的电动汽车行业报告中，电动汽车巨头，<b>特斯拉公司。</b>（纳斯达克：TSLA）巩固了其作为少数准备挑战ICE霸权的电动汽车制造商之一的信誉。</blockquote></p><p> According to a report by the Korea Automotive Technology Institute (KAII), global EV sales have exceeded 3 million units in the first three quarters of 2021, a run rate that puts it on course to break 4 million units a year for the first time ever.</p><p><blockquote>根据韩国汽车技术研究所（KAII）的一份报告，2021年前三季度全球电动汽车销量已超过300万辆，这一运行速度使其有望首次突破每年400万辆。</blockquote></p><p> BloombergNEF is even more optimistic and expects global sales of electric passenger vehicles this year to clock in at 5.6 million units, good for an impressive 8% of new vehicle sales.</p><p><blockquote>彭博新能源财经更为乐观，预计今年全球电动乘用车销量将达到560万辆，占新车销量的8%，令人印象深刻。</blockquote></p><p> Wedbush Securities forecasts that Tesla alone could grab up to 50% of the $5-trillion EV market in the coming years, with the rest of the manufacturers fighting over the remaining scraps.</p><p><blockquote>Wedbush Securities预测，未来几年，仅特斯拉就可能占据价值5万亿美元的电动汽车市场的50%，其余制造商将争夺剩余的废料。</blockquote></p><p> With that in mind, Wedbush analyst Daniel Ives maintains his \"Outperform\" rating, raising his price target on Tesla from $1,100 to $1,400 per share. But Ives \"bull case\" is $1,800.</p><p><blockquote>考虑到这一点，Wedbush分析师Daniel Ives维持“跑赢大盘”评级，将特斯拉的目标价从每股1100美元上调至1400美元。但艾夫斯的“牛市”是1800美元。</blockquote></p><p> While Tesla has been busy trying to corner the Chinese market--quite successfully--Wedbush estimates that from 2022 onwards, China will be worth $400 per share for Tesla.</p><p><blockquote>虽然特斯拉一直忙于试图垄断中国市场——而且相当成功——但韦德布什估计，从2022年起，中国对特斯拉的价值将达到每股400美元。</blockquote></p><p> On a company basis, Tesla remains the most popular model after moving 625,624 units in the third quarter, 51% more than second-placed China's <b>SAIC Motor,</b> which sold 413,037 units; Volkswagen 287,852 units; and China's <b>BYD Corp. </b>(NYSE:BYD) with 189,751 units.</p><p><blockquote>从公司来看，特斯拉仍然是最受欢迎的车型，第三季度销量为625,624辆，比排名第二的中国汽车高出51%<b>上汽集团、</b>售出413,037辆；大众287852辆；而中国的<b>比亚迪公司。</b>（纽约证券交易所股票代码：BYD）拥有189,751辆。</blockquote></p><p> Tesla has definitely established a strong head start on the competition in the EV market that ICE incumbents as well as newer pure-play EV upstarts will have a hard time catching up to.</p><p><blockquote>特斯拉无疑在电动汽车市场的竞争中建立了强大的领先地位，ICE现有企业以及较新的纯电动汽车新贵将很难赶上。</blockquote></p><p> <b>Keep an Eye on China</b></p><p><blockquote><b>密切关注中国</b></blockquote></p><p> Tesla stock rallied further Monday after Musk tweeted about the launch of the Model S Plaid in China for mid-2022.</p><p><blockquote>在马斯克发推文称将于2022年中期在华推出Model S Plaid后，特斯拉股价周一进一步上涨。</blockquote></p><p> <i>\"Model S Plaid is sickkkk!!!!</i>\" Musk has tweeted.\"</p><p><blockquote><i>“Model S格子太恶心了！！！！</i>“马斯克发了推特。”</blockquote></p><p> The $131,100 Model S Plaid features 1,020 horsepower, a 17-inch touchscreen, a steering yoke and has an estimated EPA-rated range of up to 390 miles.</p><p><blockquote>售价131,100美元的Model S Plaid配备1,020马力、17英寸触摸屏、转向轭，预计EPA额定续航里程可达390英里。</blockquote></p><p> China is the world's largest car market, and it's the key here, with Ives calling it the \"linchpin to the overall bull thesis on Tesla\".</p><p><blockquote>中国是世界上最大的汽车市场，中国是这里的关键，Ives称中国是“特斯拉整体牛市论点的关键”。</blockquote></p><p> For Q3, Tesla's China sales were almost half the volume of its U.S. sales … and climbing.</p><p><blockquote>第三季度，特斯拉在华销量几乎是美国销量的一半……而且还在攀升。</blockquote></p><p> Tesla reported $3.11 billion in EV sales in China for Q3--a figure that represents 48.5% of its $6.41 billion in U.S. sales for the same time period. It's also more than a 41% increase over China sales a year ago.</p><p><blockquote>特斯拉公布第三季度在华电动汽车销售额为31.1亿美元，占同期美国64.1亿美元销售额的48.5%。这也比一年前在中国的销售额增长了41%以上。</blockquote></p><p> In January 2020, Tesla delivered its first locally manufactured EVs in China. This year, Tesla started delivering its second model to the Chinese straight from its gigafactory in Shanghai. The Model 3 and Model Y are now the top three EVs in terms of sales in China.</p><p><blockquote>2020年1月，特斯拉在中国交付了第一辆本地制造的电动汽车。今年，特斯拉开始直接从其位于上海的超级工厂向中国人交付第二款车型。Model 3和Model Y目前是中国销量排名前三的电动汽车。</blockquote></p><p> And now it's offering loans in China to spur more sales. Tesla's financial products even include some with zero down payments.</p><p><blockquote>现在它在中国提供贷款以刺激更多销售。特斯拉的理财产品甚至包括一些零首付的。</blockquote></p><p> <b>Profitability and Catalysts for 2022</b></p><p><blockquote><b>2022年盈利能力和催化剂</b></blockquote></p><p> For every quarter of 2021 so far, Tesla has managed to increase its profit margin, largely because of reduced costs and higher sales.</p><p><blockquote>到目前为止，2021年每个季度，特斯拉都设法提高了利润率，这主要是因为成本降低和销售额增加。</blockquote></p><p> That momentum is expected to continue next year, with intensifying production, demand that is clearly on track to increase and new factories coming on line.</p><p><blockquote>随着生产的加强、需求显然有望增加以及新工厂的投产，这种势头预计明年将继续下去。</blockquote></p><p> If we see any improvement in supply chains for raw materials next year, Tesla will benefit further.</p><p><blockquote>如果明年原材料供应链有所改善，特斯拉将进一步受益。</blockquote></p><p> On Monday, Tesla filed for approval for the first phase of its planned \"Gigafactory Texas\" in Austin to produce the Model Y.</p><p><blockquote>周一，特斯拉申请批准其计划在奥斯丁建设的“德克萨斯超级工厂”的第一阶段，以生产Model Y。</blockquote></p><p> Tesla will invest $1 billion in the Texas gigafactory, and construction is expected to be completed by the end of this year already. The complex would contain five separate facilities.</p><p><blockquote>特斯拉将向德克萨斯超级工厂投资10亿美元，预计最早将于今年年底完成建设。该综合体将包含五个独立的设施。</blockquote></p><p> It's also building \"Gigafactory Berlin\" in Germany, which has met with some delays in the environmental approval process.</p><p><blockquote>它还在德国建设“柏林超级工厂”，但在环境审批过程中遇到了一些延误。</blockquote></p><p> Even without these catalysts, Tesla is blowing everyone else away.</p><p><blockquote>即使没有这些催化剂，特斯拉也让其他人大吃一惊。</blockquote></p><p> In terms of volume, the Financial Times suggests that VW is the only carmaker that stands a chance of overtaking Tesla's volume by 2024.</p><p><blockquote>就销量而言，英国《金融时报》表示，大众是唯一一家有机会到2024年超越特斯拉的汽车制造商。</blockquote></p><p> While all other major automakers are on track to significantly scale up their EV offerings, Bernstein, IHS and EV-Volumes.com say they won't come close to Tesla.</p><p><blockquote>虽然所有其他主要汽车制造商都有望大幅扩大其电动汽车产品规模，但Bernstein、IHS和EV-Volumes.com表示，他们不会接近特斯拉。</blockquote></p><p> <b>Is Apple Really a Threat to Tesla?</b></p><p><blockquote><b>苹果真的对特斯拉构成威胁吗？</b></blockquote></p><p> The threat to Tesla from giant smartphone maker <b>Apple Inc.</b> (NASDAQ:AAPL), which has reportedly stepped up its efforts to create an autonomous car thanks to a recent chip breakthrough, is impressive but still in the fairly distant future.</p><p><blockquote>智能手机巨头对特斯拉的威胁<b>苹果公司。</b>（纳斯达克：AAPL）据报道，由于最近的芯片突破，该公司加大了制造自动驾驶汽车的力度，令人印象深刻，但仍处于相当遥远的未来。</blockquote></p><p> Apple has set a goal to produce a fully self-driving car by 2025 though it's yet to announce a production partner anytime soon for the self-driving car project.</p><p><blockquote>苹果设定了到2025年生产全自动驾驶汽车的目标，但尚未很快宣布自动驾驶汽车项目的生产合作伙伴。</blockquote></p><p> Nothing has delivered us a more impressive wealth generation story in the past couple of years like Tesla. It's certainly with that in mind that Apple--which has gone back and forth over the Apple Car--appears to have turned things up a notch in the autonomous-driving arena.</p><p><blockquote>在过去的几年里，没有什么比特斯拉给我们带来了更令人印象深刻的财富创造故事了。当然，正是考虑到这一点，在苹果汽车问题上来来回回的苹果似乎在自动驾驶领域更上一层楼。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> analyst Adam Jona thinks the interest in Apple entering the electric shared-autonomy space in transportation has been accelerated by the soaring valuation of Tesla and other EV stocks in a validation of the wealth creation potential.</p><p><blockquote><a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>分析师Adam Jona认为，特斯拉和其他电动汽车股票估值飙升，加速了人们对苹果进入交通领域电动共享自主领域的兴趣，从而验证了其创造财富的潜力。</blockquote></p><p> However, Jonas and team do not think Apple will bring a car to the market in the traditional sense.</p><p><blockquote>然而，Jonas和团队并不认为苹果会将传统意义上的汽车推向市场。</blockquote></p><p> <i>\"We believe a car without steering wheel or pedals must be a 'shared service' and not an 'owned car,' To be clear, we do not believe consumers will own title to a fully autonomous car... but will engage in the service as a subscription or transport utility</i>.\"</p><p><blockquote><i>“我们认为，没有方向盘或踏板的汽车必须是‘共享服务’，而不是‘自有汽车’，需要明确的是，我们不认为消费者会拥有全自动驾驶汽车的所有权……但会参与该服务作为订阅或运输工具</i>.\"</blockquote></p><p> Jonas and team also think Apple's autonomous car story will play out slowly.</p><p><blockquote>Jonas和团队还认为苹果的自动驾驶汽车故事会慢慢上演。</blockquote></p><p> Likewise, Morgan Stanley doesn't view Apple's potential entry into the autonomous-mobility market as a major threat to Tesla.</p><p><blockquote>同样，摩根士丹利并不认为苹果进入自动驾驶汽车市场的可能性是对特斯拉的重大威胁。</blockquote></p><p> For now, we think nothing holds a candle to Tesla in the EV space.</p><p><blockquote>目前，我们认为在电动汽车领域没有什么能与特斯拉相提并论。</blockquote></p><p></p>","source":"lsy1606109400967","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\n5 Trillion Reasons To Be Bullish On Tesla<blockquote>5万亿个理由看好特斯拉</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Oilprice</strong><span class=\"h-time small\">2021-11-26 14:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the latest EV sector report, the EV kingpin,<b> Tesla Inc.</b> (NASDAQ:TSLA), has cemented its credentials as one of the few electric vehicle manufacturers ready to challenge the ICE hegemony.</p><p><blockquote>在最新的电动汽车行业报告中，电动汽车巨头，<b>特斯拉公司。</b>（纳斯达克：TSLA）巩固了其作为少数准备挑战ICE霸权的电动汽车制造商之一的信誉。</blockquote></p><p> According to a report by the Korea Automotive Technology Institute (KAII), global EV sales have exceeded 3 million units in the first three quarters of 2021, a run rate that puts it on course to break 4 million units a year for the first time ever.</p><p><blockquote>根据韩国汽车技术研究所（KAII）的一份报告，2021年前三季度全球电动汽车销量已超过300万辆，这一运行速度使其有望首次突破每年400万辆。</blockquote></p><p> BloombergNEF is even more optimistic and expects global sales of electric passenger vehicles this year to clock in at 5.6 million units, good for an impressive 8% of new vehicle sales.</p><p><blockquote>彭博新能源财经更为乐观，预计今年全球电动乘用车销量将达到560万辆，占新车销量的8%，令人印象深刻。</blockquote></p><p> Wedbush Securities forecasts that Tesla alone could grab up to 50% of the $5-trillion EV market in the coming years, with the rest of the manufacturers fighting over the remaining scraps.</p><p><blockquote>Wedbush Securities预测，未来几年，仅特斯拉就可能占据价值5万亿美元的电动汽车市场的50%，其余制造商将争夺剩余的废料。</blockquote></p><p> With that in mind, Wedbush analyst Daniel Ives maintains his \"Outperform\" rating, raising his price target on Tesla from $1,100 to $1,400 per share. But Ives \"bull case\" is $1,800.</p><p><blockquote>考虑到这一点，Wedbush分析师Daniel Ives维持“跑赢大盘”评级，将特斯拉的目标价从每股1100美元上调至1400美元。但艾夫斯的“牛市”是1800美元。</blockquote></p><p> While Tesla has been busy trying to corner the Chinese market--quite successfully--Wedbush estimates that from 2022 onwards, China will be worth $400 per share for Tesla.</p><p><blockquote>虽然特斯拉一直忙于试图垄断中国市场——而且相当成功——但韦德布什估计，从2022年起，中国对特斯拉的价值将达到每股400美元。</blockquote></p><p> On a company basis, Tesla remains the most popular model after moving 625,624 units in the third quarter, 51% more than second-placed China's <b>SAIC Motor,</b> which sold 413,037 units; Volkswagen 287,852 units; and China's <b>BYD Corp. </b>(NYSE:BYD) with 189,751 units.</p><p><blockquote>从公司来看，特斯拉仍然是最受欢迎的车型，第三季度销量为625,624辆，比排名第二的中国汽车高出51%<b>上汽集团、</b>售出413,037辆；大众287852辆；而中国的<b>比亚迪公司。</b>（纽约证券交易所股票代码：BYD）拥有189,751辆。</blockquote></p><p> Tesla has definitely established a strong head start on the competition in the EV market that ICE incumbents as well as newer pure-play EV upstarts will have a hard time catching up to.</p><p><blockquote>特斯拉无疑在电动汽车市场的竞争中建立了强大的领先地位，ICE现有企业以及较新的纯电动汽车新贵将很难赶上。</blockquote></p><p> <b>Keep an Eye on China</b></p><p><blockquote><b>密切关注中国</b></blockquote></p><p> Tesla stock rallied further Monday after Musk tweeted about the launch of the Model S Plaid in China for mid-2022.</p><p><blockquote>在马斯克发推文称将于2022年中期在华推出Model S Plaid后，特斯拉股价周一进一步上涨。</blockquote></p><p> <i>\"Model S Plaid is sickkkk!!!!</i>\" Musk has tweeted.\"</p><p><blockquote><i>“Model S格子太恶心了！！！！</i>“马斯克发了推特。”</blockquote></p><p> The $131,100 Model S Plaid features 1,020 horsepower, a 17-inch touchscreen, a steering yoke and has an estimated EPA-rated range of up to 390 miles.</p><p><blockquote>售价131,100美元的Model S Plaid配备1,020马力、17英寸触摸屏、转向轭，预计EPA额定续航里程可达390英里。</blockquote></p><p> China is the world's largest car market, and it's the key here, with Ives calling it the \"linchpin to the overall bull thesis on Tesla\".</p><p><blockquote>中国是世界上最大的汽车市场，中国是这里的关键，Ives称中国是“特斯拉整体牛市论点的关键”。</blockquote></p><p> For Q3, Tesla's China sales were almost half the volume of its U.S. sales … and climbing.</p><p><blockquote>第三季度，特斯拉在华销量几乎是美国销量的一半……而且还在攀升。</blockquote></p><p> Tesla reported $3.11 billion in EV sales in China for Q3--a figure that represents 48.5% of its $6.41 billion in U.S. sales for the same time period. It's also more than a 41% increase over China sales a year ago.</p><p><blockquote>特斯拉公布第三季度在华电动汽车销售额为31.1亿美元，占同期美国64.1亿美元销售额的48.5%。这也比一年前在中国的销售额增长了41%以上。</blockquote></p><p> In January 2020, Tesla delivered its first locally manufactured EVs in China. This year, Tesla started delivering its second model to the Chinese straight from its gigafactory in Shanghai. The Model 3 and Model Y are now the top three EVs in terms of sales in China.</p><p><blockquote>2020年1月，特斯拉在中国交付了第一辆本地制造的电动汽车。今年，特斯拉开始直接从其位于上海的超级工厂向中国人交付第二款车型。Model 3和Model Y目前是中国销量排名前三的电动汽车。</blockquote></p><p> And now it's offering loans in China to spur more sales. Tesla's financial products even include some with zero down payments.</p><p><blockquote>现在它在中国提供贷款以刺激更多销售。特斯拉的理财产品甚至包括一些零首付的。</blockquote></p><p> <b>Profitability and Catalysts for 2022</b></p><p><blockquote><b>2022年盈利能力和催化剂</b></blockquote></p><p> For every quarter of 2021 so far, Tesla has managed to increase its profit margin, largely because of reduced costs and higher sales.</p><p><blockquote>到目前为止，2021年每个季度，特斯拉都设法提高了利润率，这主要是因为成本降低和销售额增加。</blockquote></p><p> That momentum is expected to continue next year, with intensifying production, demand that is clearly on track to increase and new factories coming on line.</p><p><blockquote>随着生产的加强、需求显然有望增加以及新工厂的投产，这种势头预计明年将继续下去。</blockquote></p><p> If we see any improvement in supply chains for raw materials next year, Tesla will benefit further.</p><p><blockquote>如果明年原材料供应链有所改善，特斯拉将进一步受益。</blockquote></p><p> On Monday, Tesla filed for approval for the first phase of its planned \"Gigafactory Texas\" in Austin to produce the Model Y.</p><p><blockquote>周一，特斯拉申请批准其计划在奥斯丁建设的“德克萨斯超级工厂”的第一阶段，以生产Model Y。</blockquote></p><p> Tesla will invest $1 billion in the Texas gigafactory, and construction is expected to be completed by the end of this year already. The complex would contain five separate facilities.</p><p><blockquote>特斯拉将向德克萨斯超级工厂投资10亿美元，预计最早将于今年年底完成建设。该综合体将包含五个独立的设施。</blockquote></p><p> It's also building \"Gigafactory Berlin\" in Germany, which has met with some delays in the environmental approval process.</p><p><blockquote>它还在德国建设“柏林超级工厂”，但在环境审批过程中遇到了一些延误。</blockquote></p><p> Even without these catalysts, Tesla is blowing everyone else away.</p><p><blockquote>即使没有这些催化剂，特斯拉也让其他人大吃一惊。</blockquote></p><p> In terms of volume, the Financial Times suggests that VW is the only carmaker that stands a chance of overtaking Tesla's volume by 2024.</p><p><blockquote>就销量而言，英国《金融时报》表示，大众是唯一一家有机会到2024年超越特斯拉的汽车制造商。</blockquote></p><p> While all other major automakers are on track to significantly scale up their EV offerings, Bernstein, IHS and EV-Volumes.com say they won't come close to Tesla.</p><p><blockquote>虽然所有其他主要汽车制造商都有望大幅扩大其电动汽车产品规模，但Bernstein、IHS和EV-Volumes.com表示，他们不会接近特斯拉。</blockquote></p><p> <b>Is Apple Really a Threat to Tesla?</b></p><p><blockquote><b>苹果真的对特斯拉构成威胁吗？</b></blockquote></p><p> The threat to Tesla from giant smartphone maker <b>Apple Inc.</b> (NASDAQ:AAPL), which has reportedly stepped up its efforts to create an autonomous car thanks to a recent chip breakthrough, is impressive but still in the fairly distant future.</p><p><blockquote>智能手机巨头对特斯拉的威胁<b>苹果公司。</b>（纳斯达克：AAPL）据报道，由于最近的芯片突破，该公司加大了制造自动驾驶汽车的力度，令人印象深刻，但仍处于相当遥远的未来。</blockquote></p><p> Apple has set a goal to produce a fully self-driving car by 2025 though it's yet to announce a production partner anytime soon for the self-driving car project.</p><p><blockquote>苹果设定了到2025年生产全自动驾驶汽车的目标，但尚未很快宣布自动驾驶汽车项目的生产合作伙伴。</blockquote></p><p> Nothing has delivered us a more impressive wealth generation story in the past couple of years like Tesla. It's certainly with that in mind that Apple--which has gone back and forth over the Apple Car--appears to have turned things up a notch in the autonomous-driving arena.</p><p><blockquote>在过去的几年里，没有什么比特斯拉给我们带来了更令人印象深刻的财富创造故事了。当然，正是考虑到这一点，在苹果汽车问题上来来回回的苹果似乎在自动驾驶领域更上一层楼。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> analyst Adam Jona thinks the interest in Apple entering the electric shared-autonomy space in transportation has been accelerated by the soaring valuation of Tesla and other EV stocks in a validation of the wealth creation potential.</p><p><blockquote><a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>分析师Adam Jona认为，特斯拉和其他电动汽车股票估值飙升，加速了人们对苹果进入交通领域电动共享自主领域的兴趣，从而验证了其创造财富的潜力。</blockquote></p><p> However, Jonas and team do not think Apple will bring a car to the market in the traditional sense.</p><p><blockquote>然而，Jonas和团队并不认为苹果会将传统意义上的汽车推向市场。</blockquote></p><p> <i>\"We believe a car without steering wheel or pedals must be a 'shared service' and not an 'owned car,' To be clear, we do not believe consumers will own title to a fully autonomous car... but will engage in the service as a subscription or transport utility</i>.\"</p><p><blockquote><i>“我们认为，没有方向盘或踏板的汽车必须是‘共享服务’，而不是‘自有汽车’，需要明确的是，我们不认为消费者会拥有全自动驾驶汽车的所有权……但会参与该服务作为订阅或运输工具</i>.\"</blockquote></p><p> Jonas and team also think Apple's autonomous car story will play out slowly.</p><p><blockquote>Jonas和团队还认为苹果的自动驾驶汽车故事会慢慢上演。</blockquote></p><p> Likewise, Morgan Stanley doesn't view Apple's potential entry into the autonomous-mobility market as a major threat to Tesla.</p><p><blockquote>同样，摩根士丹利并不认为苹果进入自动驾驶汽车市场的可能性是对特斯拉的重大威胁。</blockquote></p><p> For now, we think nothing holds a candle to Tesla in the EV space.</p><p><blockquote>目前，我们认为在电动汽车领域没有什么能与特斯拉相提并论。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://oilprice.com/Energy/Energy-General/5-Trillion-Reasons-To-Be-Bullish-On-Tesla.html\">Oilprice</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":{"TSLA":"特斯拉","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4527":"明星科技股","BK4551":"寇图资本持仓","BK4099":"汽车制造商","BK4550":"红杉资本持仓","BK4534":"瑞士信贷持仓","BK4548":"巴美列捷福持仓"},"source_url":"https://oilprice.com/Energy/Energy-General/5-Trillion-Reasons-To-Be-Bullish-On-Tesla.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2186031881","content_text":"In the latest EV sector report, the EV kingpin, Tesla Inc. (NASDAQ:TSLA), has cemented its credentials as one of the few electric vehicle manufacturers ready to challenge the ICE hegemony.\nAccording to a report by the Korea Automotive Technology Institute (KAII), global EV sales have exceeded 3 million units in the first three quarters of 2021, a run rate that puts it on course to break 4 million units a year for the first time ever.\nBloombergNEF is even more optimistic and expects global sales of electric passenger vehicles this year to clock in at 5.6 million units, good for an impressive 8% of new vehicle sales.\nWedbush Securities forecasts that Tesla alone could grab up to 50% of the $5-trillion EV market in the coming years, with the rest of the manufacturers fighting over the remaining scraps.\nWith that in mind, Wedbush analyst Daniel Ives maintains his \"Outperform\" rating, raising his price target on Tesla from $1,100 to $1,400 per share. But Ives \"bull case\" is $1,800.\nWhile Tesla has been busy trying to corner the Chinese market--quite successfully--Wedbush estimates that from 2022 onwards, China will be worth $400 per share for Tesla.\nOn a company basis, Tesla remains the most popular model after moving 625,624 units in the third quarter, 51% more than second-placed China's SAIC Motor, which sold 413,037 units; Volkswagen 287,852 units; and China's BYD Corp. (NYSE:BYD) with 189,751 units.\nTesla has definitely established a strong head start on the competition in the EV market that ICE incumbents as well as newer pure-play EV upstarts will have a hard time catching up to.\nKeep an Eye on China\nTesla stock rallied further Monday after Musk tweeted about the launch of the Model S Plaid in China for mid-2022.\n\"Model S Plaid is sickkkk!!!!\" Musk has tweeted.\"\nThe $131,100 Model S Plaid features 1,020 horsepower, a 17-inch touchscreen, a steering yoke and has an estimated EPA-rated range of up to 390 miles.\nChina is the world's largest car market, and it's the key here, with Ives calling it the \"linchpin to the overall bull thesis on Tesla\".\nFor Q3, Tesla's China sales were almost half the volume of its U.S. sales … and climbing.\nTesla reported $3.11 billion in EV sales in China for Q3--a figure that represents 48.5% of its $6.41 billion in U.S. sales for the same time period. It's also more than a 41% increase over China sales a year ago.\nIn January 2020, Tesla delivered its first locally manufactured EVs in China. This year, Tesla started delivering its second model to the Chinese straight from its gigafactory in Shanghai. The Model 3 and Model Y are now the top three EVs in terms of sales in China.\nAnd now it's offering loans in China to spur more sales. Tesla's financial products even include some with zero down payments.\nProfitability and Catalysts for 2022\nFor every quarter of 2021 so far, Tesla has managed to increase its profit margin, largely because of reduced costs and higher sales.\nThat momentum is expected to continue next year, with intensifying production, demand that is clearly on track to increase and new factories coming on line.\nIf we see any improvement in supply chains for raw materials next year, Tesla will benefit further.\nOn Monday, Tesla filed for approval for the first phase of its planned \"Gigafactory Texas\" in Austin to produce the Model Y.\nTesla will invest $1 billion in the Texas gigafactory, and construction is expected to be completed by the end of this year already. The complex would contain five separate facilities.\nIt's also building \"Gigafactory Berlin\" in Germany, which has met with some delays in the environmental approval process.\nEven without these catalysts, Tesla is blowing everyone else away.\nIn terms of volume, the Financial Times suggests that VW is the only carmaker that stands a chance of overtaking Tesla's volume by 2024.\nWhile all other major automakers are on track to significantly scale up their EV offerings, Bernstein, IHS and EV-Volumes.com say they won't come close to Tesla.\nIs Apple Really a Threat to Tesla?\nThe threat to Tesla from giant smartphone maker Apple Inc. (NASDAQ:AAPL), which has reportedly stepped up its efforts to create an autonomous car thanks to a recent chip breakthrough, is impressive but still in the fairly distant future.\nApple has set a goal to produce a fully self-driving car by 2025 though it's yet to announce a production partner anytime soon for the self-driving car project.\nNothing has delivered us a more impressive wealth generation story in the past couple of years like Tesla. It's certainly with that in mind that Apple--which has gone back and forth over the Apple Car--appears to have turned things up a notch in the autonomous-driving arena.\nMorgan Stanley analyst Adam Jona thinks the interest in Apple entering the electric shared-autonomy space in transportation has been accelerated by the soaring valuation of Tesla and other EV stocks in a validation of the wealth creation potential.\nHowever, Jonas and team do not think Apple will bring a car to the market in the traditional sense.\n\"We believe a car without steering wheel or pedals must be a 'shared service' and not an 'owned car,' To be clear, we do not believe consumers will own title to a fully autonomous car... but will engage in the service as a subscription or transport utility.\"\nJonas and team also think Apple's autonomous car story will play out slowly.\nLikewise, Morgan Stanley doesn't view Apple's potential entry into the autonomous-mobility market as a major threat to Tesla.\nFor now, we think nothing holds a candle to Tesla in the EV space.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1043,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877056002,"gmtCreate":1637848086214,"gmtModify":1637848086214,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877056002","repostId":"2185354679","repostType":4,"isVote":1,"tweetType":1,"viewCount":951,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":874386778,"gmtCreate":1637731169721,"gmtModify":1637731169721,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/874386778","repostId":"2185379463","repostType":4,"isVote":1,"tweetType":1,"viewCount":1354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":875987586,"gmtCreate":1637594779401,"gmtModify":1637594779450,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875987586","repostId":"1170837254","repostType":4,"repost":{"id":"1170837254","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":1637594462,"share":"https://www.laohu8.com/m/news/1170837254?lang=zh_CN&edition=full","pubTime":"2021-11-22 23:21","market":"us","language":"en","title":"NIO shares rose more than 10% in early trading<blockquote>蔚来股价早盘涨超10%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170837254","media":"Tiger Newspress","summary":"NIO shares rose more than 10% in early trading.Nio Inc plans to begin taking bookings for its electric sedan ET7 from mid-January onwards, cnEVportreported, citing the team working on the model.The ET7 is the fourth vehicle to go on sale from Nio’s lineup of electric vehicles.Nio launched the flagship sedan ET7 in January at the company’s annual day, complete with its second-generation electric drive system, and it is expected to compete with Tesla Inc’s Model S sedan.","content":"<p>NIO&nbsp;shares&nbsp;rose&nbsp;more&nbsp;than&nbsp;10%&nbsp;in&nbsp;early&nbsp;trading.<img src=\"https://static.tigerbbs.com/709a7939cec9f7c36227189c8c1eb12f\" tg-width=\"871\" tg-height=\"627\" width=\"100%\" height=\"auto\"><b>Nio Inc</b>&nbsp;plans to begin taking bookings for its electric sedan ET7 from mid-January onwards, cnEVportreported, citing the team working on the model.</p><p><blockquote>蔚来股价早盘涨超10%。<b>蔚来公司</b>据CNEVPortReport报道，该公司计划从1月中旬开始接受电动轿车ET7的预订，并援引该车型开发团队的话说。</blockquote></p><p> The ET7 is the fourth vehicle to go on sale from Nio’s lineup of electric vehicles.</p><p><blockquote>ET7是蔚来电动汽车系列中第四款上市销售的汽车。</blockquote></p><p> Nio launched the flagship sedan ET7 in January at the company’s annual day, complete with its second-generation electric drive system, and it&nbsp;is expected to compete with&nbsp;<b>Tesla Inc’s</b>&nbsp;Model S sedan.</p><p><blockquote>蔚来在1月份的公司年度日上推出了旗舰轿车ET7，配备了第二代电力驱动系统，预计将与<b>特斯拉公司</b>S型轿车。</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>NIO shares rose more than 10% in early trading<blockquote>蔚来股价早盘涨超10%</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 shares rose more than 10% in early trading<blockquote>蔚来股价早盘涨超10%</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\">2021-11-22 23:21</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>NIO&nbsp;shares&nbsp;rose&nbsp;more&nbsp;than&nbsp;10%&nbsp;in&nbsp;early&nbsp;trading.<img src=\"https://static.tigerbbs.com/709a7939cec9f7c36227189c8c1eb12f\" tg-width=\"871\" tg-height=\"627\" width=\"100%\" height=\"auto\"><b>Nio Inc</b>&nbsp;plans to begin taking bookings for its electric sedan ET7 from mid-January onwards, cnEVportreported, citing the team working on the model.</p><p><blockquote>蔚来股价早盘涨超10%。<b>蔚来公司</b>据CNEVPortReport报道，该公司计划从1月中旬开始接受电动轿车ET7的预订，并援引该车型开发团队的话说。</blockquote></p><p> The ET7 is the fourth vehicle to go on sale from Nio’s lineup of electric vehicles.</p><p><blockquote>ET7是蔚来电动汽车系列中第四款上市销售的汽车。</blockquote></p><p> Nio launched the flagship sedan ET7 in January at the company’s annual day, complete with its second-generation electric drive system, and it&nbsp;is expected to compete with&nbsp;<b>Tesla Inc’s</b>&nbsp;Model S sedan.</p><p><blockquote>蔚来在1月份的公司年度日上推出了旗舰轿车ET7，配备了第二代电力驱动系统，预计将与<b>特斯拉公司</b>S型轿车。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170837254","content_text":"NIO shares rose more than 10% in early trading.Nio Inc plans to begin taking bookings for its electric sedan ET7 from mid-January onwards, cnEVportreported, citing the team working on the model.\nThe ET7 is the fourth vehicle to go on sale from Nio’s lineup of electric vehicles.\nNio launched the flagship sedan ET7 in January at the company’s annual day, complete with its second-generation electric drive system, and it is expected to compete with Tesla Inc’s Model S sedan.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1071,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872946533,"gmtCreate":1637406265624,"gmtModify":1637406265677,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share 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it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/873140564","repostId":"2183048212","repostType":4,"isVote":1,"tweetType":1,"viewCount":1333,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":193440968,"gmtCreate":1620813481654,"gmtModify":1634196119650,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Landlord please be kind&nbsp;[流泪]&nbsp;","listText":"Landlord please be kind&nbsp;[流泪]&nbsp;","text":"Landlord please be kind [流泪]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/193440968","repostId":"1191266408","repostType":4,"repost":{"id":"1191266408","kind":"news","pubTimestamp":1620812300,"share":"https://www.laohu8.com/m/news/1191266408?lang=zh_CN&edition=full","pubTime":"2021-05-12 17:38","market":"sg","language":"en","title":"Condo, HDB rents climb again in April with 1.3% rise: SRX<blockquote>SRX：4月份公寓、组屋租金再次攀升，上涨1.3%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191266408","media":"The Straits Times","summary":"[SINGAPORE] Rents for condominium units and Housing Board flats both increased by 1.3 per cent in Ap","content":"<p><div> [SINGAPORE] Rents for condominium units and Housing Board flats both increased by 1.3 per cent in April from the previous month, although the number of leasings dipped. As at last month, condo rents ...</p><p><blockquote><div>[新加坡]尽管租赁数量有所下降，但4月份共管公寓和住房委员会公寓的租金均较上月上涨1.3%。截至上个月，公寓租金...</div></blockquote></p><p>  <a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">网页连接</a></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>Condo, HDB rents climb again in April with 1.3% rise: SRX<blockquote>SRX：4月份公寓、组屋租金再次攀升，上涨1.3%</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\">\nCondo, HDB rents climb again in April with 1.3% rise: SRX<blockquote>SRX：4月份公寓、组屋租金再次攀升，上涨1.3%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Straits Times</strong><span class=\"h-time small\">2021-05-12 17:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> [SINGAPORE] Rents for condominium units and Housing Board flats both increased by 1.3 per cent in April from the previous month, although the number of leasings dipped. As at last month, condo rents ...</p><p><blockquote><div>[新加坡]尽管租赁数量有所下降，但4月份共管公寓和住房委员会公寓的租金均较上月上涨1.3%。截至上个月，公寓租金...</div></blockquote></p><p>  <a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">The Straits Times</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191266408","content_text":"[SINGAPORE] Rents for condominium units and Housing Board flats both increased by 1.3 per cent in April from the previous month, although the number of leasings dipped.\nAs at last month, condo rents have risen for four consecutive months, while HDB rents rose for 10 straight months, according to flash data from real estate portal SRX released on Wednesday.\nCondo rents are up 5.2 per cent in April from a year ago, although they are still down 11.9 per cent from their peak in January 2013.\nHDB rents, which are 5.6 per cent higher than a year ago, have hit their highest since July 2016, although they are still 10 per cent down from their peak in August 2013.\nRents in non-mature estates rose by 2 per cent month on month, while those in mature estates edged up by 0.6 per cent. Rents also increased across all room types.\nRental volume for condo apartments dropped by 3.1 per cent in April to an estimated 5,100 units from 5,262 units the month before.\nHowever, rental volumes are 51 per cent higher compared with April last year, when Singapore was in its circuit breaker period. Discounting most of the Covid-19 effect, the number of condo leasings are 13.5 per cent higher than the five-year average for the month of April.\nHDB rental volume in April also saw a drop from March, down 8.8 per cent to an estimated 1,847 flats from 2,026 flats the month before.\nRental volumes are 33.9 per cent higher compared with April last year although they are 6.1 per cent lower than the five-year average volume for the month of April.\nChristine Sun, OrangeTee & Tie's senior vice-president of research and analytics, said rents have been rising as demand for rental units appear to be outstripping supply.\n\"Housing vacancy is low and supply of newly completed homes is limited. Many locals have been renting units in recent months, including HDB upgraders who have sold their flats recently to take advantage of the rapidly rising HDB resale prices,\" said Ms Sun.\nThese HDB upgraders may then rent a unit in the interim while they look for their next permanent home, she said.\nAlthough Covid-19 border restrictions are still largely in place, ERA Realty head of research and consultancy Nicholas Mak said the arrival of some foreigners, such as students, professionals and their dependents, may have caused rental prices to climb.\nHuttons Asia director of research Lee Sze Teck noted that employers in some industries such as technology and manufacturing are hiring again, which has helped to boost condo rental in April - usually a quiet month.\n\"Early economic indicators are pointing to a stronger-than-expected gross domestic product growth for this year,\" he said.","news_type":1,"symbols_score_info":{"STI.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":127579796,"gmtCreate":1624859348215,"gmtModify":1633947834802,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/127579796","repostId":"1110020598","repostType":4,"repost":{"id":"1110020598","kind":"news","pubTimestamp":1624858441,"share":"https://www.laohu8.com/m/news/1110020598?lang=zh_CN&edition=full","pubTime":"2021-06-28 13:34","market":"sh","language":"en","title":"China’s ‘Small Giants’ Lure Investors Hunting for Big Gains<blockquote>中国“小巨人”吸引投资者寻求大收益</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1110020598","media":"Bloomberg","summary":"(Bloomberg) -- Investors in China are betting on small-cap growth shares to reignite returns as a sh","content":"<p>(Bloomberg) -- Investors in China are betting on small-cap growth shares to reignite returns as a shift away from blue-chips starts gaining traction.</p><p><blockquote>（彭博社）--随着投资者从蓝筹股的转移开始获得动力，中国投资者押注于小盘成长股，以重新点燃回报。</blockquote></p><p> While the mainland benchmark CSI 300 is slightly down over the past month, the tech-heavy ChiNext Index is up 6% and the Nasdaq-style Star Board 50 Index has gained 12%. An MSCI Inc. gauge of small-cap growth stocks in China has gained 2%, in stark contrast to its economically sensitive value share equivalent which is down 6.5%.</p><p><blockquote>尽管内地基准沪深300指数在过去一个月小幅下跌，但以科技股为主的创业板指数上涨了6%，纳斯达克风格的科创板50指数上涨了12%。摩根士丹利资本国际(MSCI)中国小型成长股指数上涨2%，与其经济敏感价值股下跌6.5%形成鲜明对比。</blockquote></p><p> With question marks over the strength of the Chinese economy, investors are turning toward secular growth stories in a hunt for exceptional earnings upside. For some that means the shares of smaller companies, which are expanding more rapidly than their more-established blue-chip peers.</p><p><blockquote>由于对中国经济实力的质疑，投资者正在转向长期增长故事，以寻找非凡的盈利上行空间。对于一些人来说，这意味着较小公司的股票，这些公司的扩张速度比更成熟的蓝筹股同行更快。</blockquote></p><p> “Recent sideways moves can be interpreted as a shift in market preference to tech and innovation, and a bull run there on its initial legs,” wrote Industrial Securities analyst Zhang Yidong in a note. He suggested “small giants” on the Star board with a market cap of 10 billion-80 billion yuan ($1.5 billion-$12 billion) as the “core assets“ of tomorrow.</p><p><blockquote>兴业证券分析师张忆东在一份报告中写道：“最近的横盘走势可以解释为市场偏好向科技和创新的转变，以及最初阶段的牛市。”他建议将市值在100亿-800亿元（15亿-120亿美元）的星板“小巨人”作为明天的“核心资产”。</blockquote></p><p> Star Performer</p><p><blockquote>明星表演者</blockquote></p><p> Nothing embodies growth like the two-year old Star board in Shanghai, which lowered revenue and profitability requirements to enlist companies with a competitive tech edge. Firms in the Star50 Index are expected to see 31% earnings growth this year, with profits seen expanding by 48% next year, according to data compiled by Bloomberg. The index rose as much as 2.9% Monday, trouncing the 0.6% loss in the SSE 50 gauge of blue chips.</p><p><blockquote>没有什么比上海成立两年的明星董事会更能体现增长了，该董事会降低了收入和盈利要求，以吸引具有竞争技术优势的公司。根据彭博社汇编的数据，Star50指数中的公司今年的盈利预计将增长31%，明年的利润预计将增长48%。该指数周一上涨2.9%，击败了上证50蓝筹股0.6%的跌幅。</blockquote></p><p> Still, that kind of growth comes at a price. The Star50 gauge is trading on 62 times forward earnings estimates and the Chinext is on 45 times, according to data compiled by Bloomberg. The MSCI Asia Pacific Information Technology Index is on just 18 times forward earnings.</p><p><blockquote>尽管如此，这种增长是有代价的。根据彭博社汇编的数据，Star50指数的预期市盈率为62倍，创业板为45倍。摩根士丹利资本国际亚太信息技术指数的预期市盈率仅为18倍。</blockquote></p><p> That doesn’t seem to put off Zheshang Securities Co. analysts including Wang Yang, who noted the board traded on 89 times earnings at its advent in a recent report and called it “the engine of the new bull market”.</p><p><blockquote>这似乎并没有让包括王阳在内的浙商证券分析师望而却步，他在最近的一份报告中指出，该板成立时的市盈率为89倍，并称其为“新牛市的引擎”。</blockquote></p><p> Blue Shift</p><p><blockquote>蓝移</blockquote></p><p> A preference for smaller growth shares would be a significant shift from crowded blue-chip bets such as liquor giant Kweichow Moutai Co., large caps that propelled China’s markets to a peak in February. Investors had piled in for their high earnings visibility, only to race for the exit as worries over liquidity triggered a selloff in the most expensive parts of the market and sent the benchmark into a correction in March.</p><p><blockquote>对规模较小的成长股的偏好将是对白酒巨头贵州茅台酒等拥挤蓝筹股的重大转变，这些大盘股在2月份将中国市场推至顶峰。投资者因其高盈利可见性而蜂拥而至，但由于对流动性的担忧引发了市场最昂贵部分的抛售，并导致基准指数在三月份出现调整，投资者纷纷退出。</blockquote></p><p> The trend mirrors a reassessment of growth shares on a global scale as investors ponder the future for cheaper cyclical stocks if faster-than-expected rate hikes weigh on a post-pandemic economic recovery. That was evident in the reaction to this month’s hawkish pivot from the Federal Reserve, which led to a rebound in growth stocks and weakness in reflation bets.</p><p><blockquote>这一趋势反映了全球范围内对成长型股票的重新评估，因为如果快于预期的加息拖累大流行后的经济复苏，投资者正在思考更便宜的周期性股票的未来。这在美联储本月鹰派转向的反应中显而易见，这导致成长型股票反弹和通货再膨胀押注疲软。</blockquote></p><p> Fed Pivot Seen as Bump, Not Dead End for Reflation Trade</p><p><blockquote>美联储转向被视为通胀交易的冲击，而不是死胡同</blockquote></p><p> To foreign investors, Hong Kong’s giant internet stocks are perhaps the biggest play on China’s growth, but regulatory uncertainty keeps many at bay. BlackRock Inc. is among those ready to explore investments in smaller companies in the sector.</p><p><blockquote>对外国投资者来说，香港的互联网巨头可能是中国经济增长的最大推动力，但监管的不确定性让许多人望而却步。贝莱德公司是准备探索投资该行业小公司的公司之一。</blockquote></p><p> “We position in small- and mid-cap names that are less exposed to the anti-trust risk and are relatively early in their user penetration and growth cycle,” said portfolio manager Lucy Liu in a press briefing on Wednesday. Examples include live broadcasting companies and the “new generation” of social networks.</p><p><blockquote>投资组合经理Lucy Liu在周三的新闻发布会上表示：“我们投资于受反垄断风险影响较小、用户渗透率和增长周期相对较早的中小型股。”例子包括直播公司和社交网络的“新一代”。</blockquote></p><p> “We will probably stay a little bit away from the large dominant platforms for a little bit longer,” she added.</p><p><blockquote>“我们可能会在更长的时间内远离大型主导平台，”她补充道。</blockquote></p><p> Innovation Nation</p><p><blockquote>创新国家</blockquote></p><p> Semiconductors and electric vehicle plays are also among those favored by investors and analysts should the rotation take root. The former is expected to benefit from capacity expansion as a global chip shortage persists, while EVs can enjoy robust sales on more competitive model roll-outs. Advanced manufacturing, military tech, artificial intelligence and innovative drugs are other themes seen to have potential.</p><p><blockquote>如果轮动扎根，半导体和电动汽车也是投资者和分析师青睐的股票之一。由于全球芯片短缺持续存在，前者预计将受益于产能扩张，而电动汽车则可以在更具竞争力的车型推出中享受强劲的销售。先进制造、军事技术、人工智能和创新药物是其他被认为具有潜力的主题。</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China’s ‘Small Giants’ Lure Investors Hunting for Big Gains<blockquote>中国“小巨人”吸引投资者寻求大收益</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\">\nChina’s ‘Small Giants’ Lure Investors Hunting for Big Gains<blockquote>中国“小巨人”吸引投资者寻求大收益</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-06-28 13:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Investors in China are betting on small-cap growth shares to reignite returns as a shift away from blue-chips starts gaining traction.</p><p><blockquote>（彭博社）--随着投资者从蓝筹股的转移开始获得动力，中国投资者押注于小盘成长股，以重新点燃回报。</blockquote></p><p> While the mainland benchmark CSI 300 is slightly down over the past month, the tech-heavy ChiNext Index is up 6% and the Nasdaq-style Star Board 50 Index has gained 12%. An MSCI Inc. gauge of small-cap growth stocks in China has gained 2%, in stark contrast to its economically sensitive value share equivalent which is down 6.5%.</p><p><blockquote>尽管内地基准沪深300指数在过去一个月小幅下跌，但以科技股为主的创业板指数上涨了6%，纳斯达克风格的科创板50指数上涨了12%。摩根士丹利资本国际(MSCI)中国小型成长股指数上涨2%，与其经济敏感价值股下跌6.5%形成鲜明对比。</blockquote></p><p> With question marks over the strength of the Chinese economy, investors are turning toward secular growth stories in a hunt for exceptional earnings upside. For some that means the shares of smaller companies, which are expanding more rapidly than their more-established blue-chip peers.</p><p><blockquote>由于对中国经济实力的质疑，投资者正在转向长期增长故事，以寻找非凡的盈利上行空间。对于一些人来说，这意味着较小公司的股票，这些公司的扩张速度比更成熟的蓝筹股同行更快。</blockquote></p><p> “Recent sideways moves can be interpreted as a shift in market preference to tech and innovation, and a bull run there on its initial legs,” wrote Industrial Securities analyst Zhang Yidong in a note. He suggested “small giants” on the Star board with a market cap of 10 billion-80 billion yuan ($1.5 billion-$12 billion) as the “core assets“ of tomorrow.</p><p><blockquote>兴业证券分析师张忆东在一份报告中写道：“最近的横盘走势可以解释为市场偏好向科技和创新的转变，以及最初阶段的牛市。”他建议将市值在100亿-800亿元（15亿-120亿美元）的星板“小巨人”作为明天的“核心资产”。</blockquote></p><p> Star Performer</p><p><blockquote>明星表演者</blockquote></p><p> Nothing embodies growth like the two-year old Star board in Shanghai, which lowered revenue and profitability requirements to enlist companies with a competitive tech edge. Firms in the Star50 Index are expected to see 31% earnings growth this year, with profits seen expanding by 48% next year, according to data compiled by Bloomberg. The index rose as much as 2.9% Monday, trouncing the 0.6% loss in the SSE 50 gauge of blue chips.</p><p><blockquote>没有什么比上海成立两年的明星董事会更能体现增长了，该董事会降低了收入和盈利要求，以吸引具有竞争技术优势的公司。根据彭博社汇编的数据，Star50指数中的公司今年的盈利预计将增长31%，明年的利润预计将增长48%。该指数周一上涨2.9%，击败了上证50蓝筹股0.6%的跌幅。</blockquote></p><p> Still, that kind of growth comes at a price. The Star50 gauge is trading on 62 times forward earnings estimates and the Chinext is on 45 times, according to data compiled by Bloomberg. The MSCI Asia Pacific Information Technology Index is on just 18 times forward earnings.</p><p><blockquote>尽管如此，这种增长是有代价的。根据彭博社汇编的数据，Star50指数的预期市盈率为62倍，创业板为45倍。摩根士丹利资本国际亚太信息技术指数的预期市盈率仅为18倍。</blockquote></p><p> That doesn’t seem to put off Zheshang Securities Co. analysts including Wang Yang, who noted the board traded on 89 times earnings at its advent in a recent report and called it “the engine of the new bull market”.</p><p><blockquote>这似乎并没有让包括王阳在内的浙商证券分析师望而却步，他在最近的一份报告中指出，该板成立时的市盈率为89倍，并称其为“新牛市的引擎”。</blockquote></p><p> Blue Shift</p><p><blockquote>蓝移</blockquote></p><p> A preference for smaller growth shares would be a significant shift from crowded blue-chip bets such as liquor giant Kweichow Moutai Co., large caps that propelled China’s markets to a peak in February. Investors had piled in for their high earnings visibility, only to race for the exit as worries over liquidity triggered a selloff in the most expensive parts of the market and sent the benchmark into a correction in March.</p><p><blockquote>对规模较小的成长股的偏好将是对白酒巨头贵州茅台酒等拥挤蓝筹股的重大转变，这些大盘股在2月份将中国市场推至顶峰。投资者因其高盈利可见性而蜂拥而至，但由于对流动性的担忧引发了市场最昂贵部分的抛售，并导致基准指数在三月份出现调整，投资者纷纷退出。</blockquote></p><p> The trend mirrors a reassessment of growth shares on a global scale as investors ponder the future for cheaper cyclical stocks if faster-than-expected rate hikes weigh on a post-pandemic economic recovery. That was evident in the reaction to this month’s hawkish pivot from the Federal Reserve, which led to a rebound in growth stocks and weakness in reflation bets.</p><p><blockquote>这一趋势反映了全球范围内对成长型股票的重新评估，因为如果快于预期的加息拖累大流行后的经济复苏，投资者正在思考更便宜的周期性股票的未来。这在美联储本月鹰派转向的反应中显而易见，这导致成长型股票反弹和通货再膨胀押注疲软。</blockquote></p><p> Fed Pivot Seen as Bump, Not Dead End for Reflation Trade</p><p><blockquote>美联储转向被视为通胀交易的冲击，而不是死胡同</blockquote></p><p> To foreign investors, Hong Kong’s giant internet stocks are perhaps the biggest play on China’s growth, but regulatory uncertainty keeps many at bay. BlackRock Inc. is among those ready to explore investments in smaller companies in the sector.</p><p><blockquote>对外国投资者来说，香港的互联网巨头可能是中国经济增长的最大推动力，但监管的不确定性让许多人望而却步。贝莱德公司是准备探索投资该行业小公司的公司之一。</blockquote></p><p> “We position in small- and mid-cap names that are less exposed to the anti-trust risk and are relatively early in their user penetration and growth cycle,” said portfolio manager Lucy Liu in a press briefing on Wednesday. Examples include live broadcasting companies and the “new generation” of social networks.</p><p><blockquote>投资组合经理Lucy Liu在周三的新闻发布会上表示：“我们投资于受反垄断风险影响较小、用户渗透率和增长周期相对较早的中小型股。”例子包括直播公司和社交网络的“新一代”。</blockquote></p><p> “We will probably stay a little bit away from the large dominant platforms for a little bit longer,” she added.</p><p><blockquote>“我们可能会在更长的时间内远离大型主导平台，”她补充道。</blockquote></p><p> Innovation Nation</p><p><blockquote>创新国家</blockquote></p><p> Semiconductors and electric vehicle plays are also among those favored by investors and analysts should the rotation take root. The former is expected to benefit from capacity expansion as a global chip shortage persists, while EVs can enjoy robust sales on more competitive model roll-outs. Advanced manufacturing, military tech, artificial intelligence and innovative drugs are other themes seen to have potential.</p><p><blockquote>如果轮动扎根，半导体和电动汽车也是投资者和分析师青睐的股票之一。由于全球芯片短缺持续存在，前者预计将受益于产能扩张，而电动汽车则可以在更具竞争力的车型推出中享受强劲的销售。先进制造、军事技术、人工智能和创新药物是其他被认为具有潜力的主题。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/china-small-giants-lure-investors-210000479.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","000016.SH":"上证50","000001.SH":"上证指数"},"source_url":"https://finance.yahoo.com/news/china-small-giants-lure-investors-210000479.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110020598","content_text":"(Bloomberg) -- Investors in China are betting on small-cap growth shares to reignite returns as a shift away from blue-chips starts gaining traction.\nWhile the mainland benchmark CSI 300 is slightly down over the past month, the tech-heavy ChiNext Index is up 6% and the Nasdaq-style Star Board 50 Index has gained 12%. An MSCI Inc. gauge of small-cap growth stocks in China has gained 2%, in stark contrast to its economically sensitive value share equivalent which is down 6.5%.\nWith question marks over the strength of the Chinese economy, investors are turning toward secular growth stories in a hunt for exceptional earnings upside. For some that means the shares of smaller companies, which are expanding more rapidly than their more-established blue-chip peers.\n“Recent sideways moves can be interpreted as a shift in market preference to tech and innovation, and a bull run there on its initial legs,” wrote Industrial Securities analyst Zhang Yidong in a note. He suggested “small giants” on the Star board with a market cap of 10 billion-80 billion yuan ($1.5 billion-$12 billion) as the “core assets“ of tomorrow.\nStar Performer\nNothing embodies growth like the two-year old Star board in Shanghai, which lowered revenue and profitability requirements to enlist companies with a competitive tech edge. Firms in the Star50 Index are expected to see 31% earnings growth this year, with profits seen expanding by 48% next year, according to data compiled by Bloomberg. The index rose as much as 2.9% Monday, trouncing the 0.6% loss in the SSE 50 gauge of blue chips.\nStill, that kind of growth comes at a price. The Star50 gauge is trading on 62 times forward earnings estimates and the Chinext is on 45 times, according to data compiled by Bloomberg. The MSCI Asia Pacific Information Technology Index is on just 18 times forward earnings.\nThat doesn’t seem to put off Zheshang Securities Co. analysts including Wang Yang, who noted the board traded on 89 times earnings at its advent in a recent report and called it “the engine of the new bull market”.\nBlue Shift\nA preference for smaller growth shares would be a significant shift from crowded blue-chip bets such as liquor giant Kweichow Moutai Co., large caps that propelled China’s markets to a peak in February. Investors had piled in for their high earnings visibility, only to race for the exit as worries over liquidity triggered a selloff in the most expensive parts of the market and sent the benchmark into a correction in March.\nThe trend mirrors a reassessment of growth shares on a global scale as investors ponder the future for cheaper cyclical stocks if faster-than-expected rate hikes weigh on a post-pandemic economic recovery. That was evident in the reaction to this month’s hawkish pivot from the Federal Reserve, which led to a rebound in growth stocks and weakness in reflation bets.\nFed Pivot Seen as Bump, Not Dead End for Reflation Trade\nTo foreign investors, Hong Kong’s giant internet stocks are perhaps the biggest play on China’s growth, but regulatory uncertainty keeps many at bay. BlackRock Inc. is among those ready to explore investments in smaller companies in the sector.\n“We position in small- and mid-cap names that are less exposed to the anti-trust risk and are relatively early in their user penetration and growth cycle,” said portfolio manager Lucy Liu in a press briefing on Wednesday. Examples include live broadcasting companies and the “new generation” of social networks.\n“We will probably stay a little bit away from the large dominant platforms for a little bit longer,” she added.\nInnovation Nation\nSemiconductors and electric vehicle plays are also among those favored by investors and analysts should the rotation take root. The former is expected to benefit from capacity expansion as a global chip shortage persists, while EVs can enjoy robust sales on more competitive model roll-outs. Advanced manufacturing, military tech, artificial intelligence and innovative drugs are other themes seen to have potential.","news_type":1,"symbols_score_info":{"399001":0.9,"000016.SH":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":576,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":131597697,"gmtCreate":1621866372119,"gmtModify":1634185959451,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Keep going","listText":"Keep going","text":"Keep going","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/131597697","repostId":"1185261745","repostType":4,"repost":{"id":"1185261745","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":1621863142,"share":"https://www.laohu8.com/m/news/1185261745?lang=zh_CN&edition=full","pubTime":"2021-05-24 21:32","market":"us","language":"en","title":"Dow rises more than 100 points to start the week, tech shares and reopening trades gain<blockquote>道指本周初上涨逾100点，科技股和重新开放交易上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185261745","media":"Tiger Newspress","summary":"U.S. stocks climbed on Monday as the technology sector and shares benefitting the most from the econ","content":"<p>U.S. stocks climbed on Monday as the technology sector and shares benefitting the most from the economic reopening led the advance.</p><p><blockquote>美国股市周一上涨，科技板块和从经济重新开放中受益最大的股票领涨。</blockquote></p><p>The Dow Jones Industrial Average rose 140 points. The S&amp;P 500 gained 0.6%, while the Nasdaq Composite popped 0.7%.</p><p><blockquote>道琼斯工业平均指数上涨140点。标普500上涨0.6%，纳斯达克综合指数上涨0.7%。</blockquote></p><p>Tech stocks gained to shake off another rough period for bitcoin over the weekend as thecryptocurrency bounced Monday. The&nbsp;cryptocurrencydropped under $32,000 on Sunday, only to rebound 16% above $38,000 on Monday. On Wednesday, bitcoin prices tumbled to just above $30,000, dropping to the lowest level since late January.</p><p><blockquote>随着加密货币周一反弹，科技股周末上涨，摆脱了比特币的又一个艰难时期。该加密货币周日跌破32,000美元，周一反弹16%至38,000美元上方。周三，比特币价格暴跌至略高于3万美元，跌至1月底以来的最低水平。</blockquote></p><p>Shares of Tesla, a big holder of the crypto, gained 0.5% in premarket trading despite the bitcoin volatility. Coinbase added 2% in premarket trading as bitcoin stabilized Monday and as Goldmanstarted the crypto-exchange with a buy rating.</p><p><blockquote>尽管比特币波动，该加密货币的大持有者特斯拉的股价在盘前交易中仍上涨了0.5%。随着比特币周一企稳以及高盛对该加密货币交易所给予买入评级，Coinbase在盘前交易中上涨2%。</blockquote></p><p>Stocks benefiting from the economic reopening gained in premarket trading as well. Share of Gap, Carnival and United Airlines were higher. Norwegian Cruise Line rose 1% in premarket after the cruise line operator announced plans to return cruising in the U.S. this summer.</p><p><blockquote>受益于经济重新开放的股票也在盘前交易中上涨。Gap、嘉年华和联合航空的份额较高。挪威邮轮公司(Norwegian Cruise Line)宣布计划今年夏天恢复美国邮轮业务，盘前股价上涨1%。</blockquote></p><p>“We continue to see incremental data points that strengthen our view that when equities break out of this range, the next move is a substantial rise higher,” wrote Tom Lee, head of research at Fundstrat Global Advisors. Lee cited data showing a collapse in Covid-19 cases.</p><p><blockquote>Fundstrat Global Advisors研究主管Tom Lee写道：“我们继续看到增量数据点，这强化了我们的观点，即当股市突破这一区间时，下一步就是大幅走高。”李引用的数据显示新冠肺炎病例大幅减少。</blockquote></p><p>Stocks have stalled lately. The previous week saw the Dow post its fourth negative week in five, but the losses were minor. The Dow dipped just 0.5% on the week, while the S&amp;P lost just 0.4%. The Nasdaq Composite, meanwhile, gained 0.31% last week, snapping a four-week losing streak.</p><p><blockquote>股票最近停滞不前。上周道琼斯指数连续五周下跌，但跌幅很小。道琼斯指数本周仅下跌0.5%，而标准普尔指数仅下跌0.4%。与此同时，纳斯达克综合指数上周上涨0.31%，结束了连续四周的下跌。</blockquote></p><p>Despite last week’s “collapse in crypto markets and rather hawkish FOMC minutes, another equity dip was bought by investors,” JPMorgan wrote in a note to clients. “This ‘buy the dip’ mentality has been remarkably strong this year and has provided a support preventing any small correction in equities and risk markets from becoming more extended,” the firm added.</p><p><blockquote>摩根大通在给客户的一份报告中写道，尽管上周“加密货币市场崩溃，联邦公开市场委员会会议纪要相当鹰派，但投资者还是买入了股市再次下跌”。该公司补充道：“今年这种‘逢低买入’的心态非常强烈，并提供了支撑，防止股市和风险市场的任何小幅调整变得更加持久。”</blockquote></p><p>The Federal Reserve hinted at its&nbsp;April meeting&nbsp;that easy monetary policies could be reconsidered if the economy continues to show signs of rapid improvement, according to minutes from the meeting released last week.</p><p><blockquote>根据上周公布的会议纪要，美联储在4月会议上暗示，如果经济继续出现快速改善的迹象，可能会重新考虑宽松的货币政策。</blockquote></p><p>Heading into the last full trading week of the month, the Dow is on track to post a gain for May, while the S&amp;P is on track to snap a three-month winning streak. The Nasdaq Composite, which is down more than 3% for the month, is on track to snap its longest monthly winning streak since Jan. 2018, with its first negative month in seven.</p><p><blockquote>进入本月最后一个完整交易周，道琼斯指数有望在5月份上涨，而标准普尔指数有望实现三个月连涨。纳斯达克综合指数本月下跌超过3%，有望创下自2018年1月以来最长的月度连涨纪录，这是七个月来首次出现负值。</blockquote></p><p>After outperforming year-to-date, small caps have faced recent weakness, and the Russell 2000 is on track to snap a seven-month winning streak.</p><p><blockquote>在今年迄今表现出色后，小盘股近期面临疲软，Russell 2000指数有望实现七个月连涨snap。</blockquote></p><p>“We think the choppy/sideways trend will continue for a bit longer, and the market will experience sell-off scares along the way,” noted Adam Crisafulli, founder of Vital Knowledge. “While stocks are absorbing a lot of changes well so far, all the inflection points still have longer to play out.”</p><p><blockquote>Vital Knowledge创始人Adam Crisafulli指出：“我们认为震荡/横盘趋势将持续一段时间，市场将在此过程中经历抛售恐慌。”“虽然到目前为止股市很好地吸收了很多变化，但所有拐点仍需要更长的时间才能显现出来。”</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>Dow rises more than 100 points to start the week, tech shares and reopening trades gain<blockquote>道指本周初上涨逾100点，科技股和重新开放交易上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow rises more than 100 points to start the week, tech shares and reopening trades gain<blockquote>道指本周初上涨逾100点，科技股和重新开放交易上涨</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\">2021-05-24 21:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stocks climbed on Monday as the technology sector and shares benefitting the most from the economic reopening led the advance.</p><p><blockquote>美国股市周一上涨，科技板块和从经济重新开放中受益最大的股票领涨。</blockquote></p><p>The Dow Jones Industrial Average rose 140 points. The S&amp;P 500 gained 0.6%, while the Nasdaq Composite popped 0.7%.</p><p><blockquote>道琼斯工业平均指数上涨140点。标普500上涨0.6%，纳斯达克综合指数上涨0.7%。</blockquote></p><p>Tech stocks gained to shake off another rough period for bitcoin over the weekend as thecryptocurrency bounced Monday. The&nbsp;cryptocurrencydropped under $32,000 on Sunday, only to rebound 16% above $38,000 on Monday. On Wednesday, bitcoin prices tumbled to just above $30,000, dropping to the lowest level since late January.</p><p><blockquote>随着加密货币周一反弹，科技股周末上涨，摆脱了比特币的又一个艰难时期。该加密货币周日跌破32,000美元，周一反弹16%至38,000美元上方。周三，比特币价格暴跌至略高于3万美元，跌至1月底以来的最低水平。</blockquote></p><p>Shares of Tesla, a big holder of the crypto, gained 0.5% in premarket trading despite the bitcoin volatility. Coinbase added 2% in premarket trading as bitcoin stabilized Monday and as Goldmanstarted the crypto-exchange with a buy rating.</p><p><blockquote>尽管比特币波动，该加密货币的大持有者特斯拉的股价在盘前交易中仍上涨了0.5%。随着比特币周一企稳以及高盛对该加密货币交易所给予买入评级，Coinbase在盘前交易中上涨2%。</blockquote></p><p>Stocks benefiting from the economic reopening gained in premarket trading as well. Share of Gap, Carnival and United Airlines were higher. Norwegian Cruise Line rose 1% in premarket after the cruise line operator announced plans to return cruising in the U.S. this summer.</p><p><blockquote>受益于经济重新开放的股票也在盘前交易中上涨。Gap、嘉年华和联合航空的份额较高。挪威邮轮公司(Norwegian Cruise Line)宣布计划今年夏天恢复美国邮轮业务，盘前股价上涨1%。</blockquote></p><p>“We continue to see incremental data points that strengthen our view that when equities break out of this range, the next move is a substantial rise higher,” wrote Tom Lee, head of research at Fundstrat Global Advisors. Lee cited data showing a collapse in Covid-19 cases.</p><p><blockquote>Fundstrat Global Advisors研究主管Tom Lee写道：“我们继续看到增量数据点，这强化了我们的观点，即当股市突破这一区间时，下一步就是大幅走高。”李引用的数据显示新冠肺炎病例大幅减少。</blockquote></p><p>Stocks have stalled lately. The previous week saw the Dow post its fourth negative week in five, but the losses were minor. The Dow dipped just 0.5% on the week, while the S&amp;P lost just 0.4%. The Nasdaq Composite, meanwhile, gained 0.31% last week, snapping a four-week losing streak.</p><p><blockquote>股票最近停滞不前。上周道琼斯指数连续五周下跌，但跌幅很小。道琼斯指数本周仅下跌0.5%，而标准普尔指数仅下跌0.4%。与此同时，纳斯达克综合指数上周上涨0.31%，结束了连续四周的下跌。</blockquote></p><p>Despite last week’s “collapse in crypto markets and rather hawkish FOMC minutes, another equity dip was bought by investors,” JPMorgan wrote in a note to clients. “This ‘buy the dip’ mentality has been remarkably strong this year and has provided a support preventing any small correction in equities and risk markets from becoming more extended,” the firm added.</p><p><blockquote>摩根大通在给客户的一份报告中写道，尽管上周“加密货币市场崩溃，联邦公开市场委员会会议纪要相当鹰派，但投资者还是买入了股市再次下跌”。该公司补充道：“今年这种‘逢低买入’的心态非常强烈，并提供了支撑，防止股市和风险市场的任何小幅调整变得更加持久。”</blockquote></p><p>The Federal Reserve hinted at its&nbsp;April meeting&nbsp;that easy monetary policies could be reconsidered if the economy continues to show signs of rapid improvement, according to minutes from the meeting released last week.</p><p><blockquote>根据上周公布的会议纪要，美联储在4月会议上暗示，如果经济继续出现快速改善的迹象，可能会重新考虑宽松的货币政策。</blockquote></p><p>Heading into the last full trading week of the month, the Dow is on track to post a gain for May, while the S&amp;P is on track to snap a three-month winning streak. The Nasdaq Composite, which is down more than 3% for the month, is on track to snap its longest monthly winning streak since Jan. 2018, with its first negative month in seven.</p><p><blockquote>进入本月最后一个完整交易周，道琼斯指数有望在5月份上涨，而标准普尔指数有望实现三个月连涨。纳斯达克综合指数本月下跌超过3%，有望创下自2018年1月以来最长的月度连涨纪录，这是七个月来首次出现负值。</blockquote></p><p>After outperforming year-to-date, small caps have faced recent weakness, and the Russell 2000 is on track to snap a seven-month winning streak.</p><p><blockquote>在今年迄今表现出色后，小盘股近期面临疲软，Russell 2000指数有望实现七个月连涨snap。</blockquote></p><p>“We think the choppy/sideways trend will continue for a bit longer, and the market will experience sell-off scares along the way,” noted Adam Crisafulli, founder of Vital Knowledge. “While stocks are absorbing a lot of changes well so far, all the inflection points still have longer to play out.”</p><p><blockquote>Vital Knowledge创始人Adam Crisafulli指出：“我们认为震荡/横盘趋势将持续一段时间，市场将在此过程中经历抛售恐慌。”“虽然到目前为止股市很好地吸收了很多变化，但所有拐点仍需要更长的时间才能显现出来。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185261745","content_text":"U.S. stocks climbed on Monday as the technology sector and shares benefitting the most from the economic reopening led the advance.The Dow Jones Industrial Average rose 140 points. The S&P 500 gained 0.6%, while the Nasdaq Composite popped 0.7%.Tech stocks gained to shake off another rough period for bitcoin over the weekend as thecryptocurrency bounced Monday. The cryptocurrencydropped under $32,000 on Sunday, only to rebound 16% above $38,000 on Monday. On Wednesday, bitcoin prices tumbled to just above $30,000, dropping to the lowest level since late January.Shares of Tesla, a big holder of the crypto, gained 0.5% in premarket trading despite the bitcoin volatility. Coinbase added 2% in premarket trading as bitcoin stabilized Monday and as Goldmanstarted the crypto-exchange with a buy rating.Stocks benefiting from the economic reopening gained in premarket trading as well. Share of Gap, Carnival and United Airlines were higher. Norwegian Cruise Line rose 1% in premarket after the cruise line operator announced plans to return cruising in the U.S. this summer.“We continue to see incremental data points that strengthen our view that when equities break out of this range, the next move is a substantial rise higher,” wrote Tom Lee, head of research at Fundstrat Global Advisors. Lee cited data showing a collapse in Covid-19 cases.Stocks have stalled lately. The previous week saw the Dow post its fourth negative week in five, but the losses were minor. The Dow dipped just 0.5% on the week, while the S&P lost just 0.4%. The Nasdaq Composite, meanwhile, gained 0.31% last week, snapping a four-week losing streak.Despite last week’s “collapse in crypto markets and rather hawkish FOMC minutes, another equity dip was bought by investors,” JPMorgan wrote in a note to clients. “This ‘buy the dip’ mentality has been remarkably strong this year and has provided a support preventing any small correction in equities and risk markets from becoming more extended,” the firm added.The Federal Reserve hinted at its April meeting that easy monetary policies could be reconsidered if the economy continues to show signs of rapid improvement, according to minutes from the meeting released last week.Heading into the last full trading week of the month, the Dow is on track to post a gain for May, while the S&P is on track to snap a three-month winning streak. The Nasdaq Composite, which is down more than 3% for the month, is on track to snap its longest monthly winning streak since Jan. 2018, with its first negative month in seven.After outperforming year-to-date, small caps have faced recent weakness, and the Russell 2000 is on track to snap a seven-month winning streak.“We think the choppy/sideways trend will continue for a bit longer, and the market will experience sell-off scares along the way,” noted Adam Crisafulli, founder of Vital Knowledge. “While stocks are absorbing a lot of changes well so far, all the inflection points still have longer to play out.”","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192756981,"gmtCreate":1621233124043,"gmtModify":1631888415338,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AJBU.SI\">$KEPPEL DC REIT(AJBU.SI)$</a>......","listText":"<a href=\"https://laohu8.com/S/AJBU.SI\">$KEPPEL DC REIT(AJBU.SI)$</a>......","text":"$KEPPEL DC REIT(AJBU.SI)$......","images":[{"img":"https://static.tigerbbs.com/6e470c1c25a4950e6761c5ca23abaec3","width":"720","height":"1280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/192756981","isVote":1,"tweetType":1,"viewCount":487,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":899030215,"gmtCreate":1628140568937,"gmtModify":1633753187150,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Bye tesla","listText":"Bye tesla","text":"Bye tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/899030215","repostId":"1112520778","repostType":4,"repost":{"id":"1112520778","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1628140432,"share":"https://www.laohu8.com/m/news/1112520778?lang=zh_CN&edition=full","pubTime":"2021-08-05 13:13","market":"us","language":"en","title":"Cathie Wood's Ark Invest Sells Another $5.7M In Tesla<blockquote>Cathie Wood的Ark Invest在特斯拉又出售了570万美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112520778","media":"Benzinga","summary":"Cathie Wood-led Ark Invest on Wednesday shed less than half a percent of its position in Elon Musk-l","content":"<p><b>Cathie Wood</b>-led Ark Invest on Wednesday shed less than half a percent of its position in&nbsp;<b>Elon Musk</b>-led&nbsp;<b>Tesla Inc</b>&nbsp;as the shares of the electric vehicle company climbed.</p><p><blockquote><b>凯西·伍德</b>以Ark Invest为首的周三减持了不到0.5%的头寸<b>埃隆·马斯克</b>-led<b>特斯拉公司</b>随着这家电动汽车公司的股价攀升。</blockquote></p><p> Ark Invest sold a total of 8,100 shares, estimated to be worth about $5.76 million, in Tesla based on the stock’s closing price of $710.92 on Wednesday.</p><p><blockquote>Ark Invest在特斯拉总共出售了8,100股股票，根据该股周三收盘价710.92美元计算，估计价值约576万美元。</blockquote></p><p> Tesla shares have jumped about 4% since Friday when the New York-based&nbsp;Ark Invest sold 63,643 shares,estimated to be worth about $43.7 million in the Palo Alto, California-based company.</p><p><blockquote>自周五总部位于纽约的Ark Invest出售这家总部位于加州Palo Alto的公司的63,643股股票以来，特斯拉股价已上涨约4%，估计价值约4,370万美元。</blockquote></p><p> Wood’s firm holds large bets in Tesla which it predicts will hit the&nbsp;$3,000 mark at the end of 2025.</p><p><blockquote>伍德的公司在特斯拉下了很大的赌注，预计到2025年底将达到3,000美元大关。</blockquote></p><p> Just last week, Wood compared Tesla with&nbsp;<b>Apple Inc</b>AAPL 0.28%in an interview with RealVision and had suggested a huge inefficiency in analyst research behind Tesla, as reported by&nbsp;Markets Insider.</p><p><blockquote>就在上周，伍德将特斯拉与<b>苹果公司</b>据Markets Insider报道，AAPL在接受RealVision采访时上涨了0.28%，并暗示特斯拉背后的分析师研究效率极低。</blockquote></p><p> Ark Invest on Wednesday deployed the&nbsp;<b>Ark Next Generation Internet ETF</b>&nbsp;to sell shares in Tesla and also holds positions in the&nbsp;<b>Elon Musk</b>&nbsp;company via two other traded funds, namely, the&nbsp;<b>Ark Autonomous Technology &amp; Robotics ETF</b>&nbsp;and the&nbsp;<b>Ark Innovation ETF</b>.</p><p><blockquote>Ark Invest周三部署了<b>方舟下一代互联网ETF</b>出售特斯拉的股份，并持有<b>埃隆·马斯克</b>本公司透过另外两个交易基金，即<b>Ark自主技术与机器人ETF</b>和<b>方舟创新ETF</b>.</blockquote></p><p> Together the three ETFs held about 4.85 million shares, worth $3.4 billion, in Tesla ahead of Wednesday’s trades.</p><p><blockquote>在周三交易之前，这三只ETF总共持有特斯拉约485万股股票，价值34亿美元。</blockquote></p><p> Some of the other key Ark Invest sells on Wednesday included&nbsp;<b>Square Inc</b>&nbsp;and buys included&nbsp;<b>UiPath Inc</b>.</p><p><blockquote>Ark Invest周三出售的其他一些关键产品包括<b>广场公司</b>并包括购买<b>UiPath公司</b>.</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>Cathie Wood's Ark Invest Sells Another $5.7M In Tesla<blockquote>Cathie Wood的Ark Invest在特斯拉又出售了570万美元</blockquote></title>\n<style 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#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\">\nCathie Wood's Ark Invest Sells Another $5.7M In Tesla<blockquote>Cathie Wood的Ark Invest在特斯拉又出售了570万美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-08-05 13:13</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Cathie Wood</b>-led Ark Invest on Wednesday shed less than half a percent of its position in&nbsp;<b>Elon Musk</b>-led&nbsp;<b>Tesla Inc</b>&nbsp;as the shares of the electric vehicle company climbed.</p><p><blockquote><b>凯西·伍德</b>以Ark Invest为首的周三减持了不到0.5%的头寸<b>埃隆·马斯克</b>-led<b>特斯拉公司</b>随着这家电动汽车公司的股价攀升。</blockquote></p><p> Ark Invest sold a total of 8,100 shares, estimated to be worth about $5.76 million, in Tesla based on the stock’s closing price of $710.92 on Wednesday.</p><p><blockquote>Ark Invest在特斯拉总共出售了8,100股股票，根据该股周三收盘价710.92美元计算，估计价值约576万美元。</blockquote></p><p> Tesla shares have jumped about 4% since Friday when the New York-based&nbsp;Ark Invest sold 63,643 shares,estimated to be worth about $43.7 million in the Palo Alto, California-based company.</p><p><blockquote>自周五总部位于纽约的Ark Invest出售这家总部位于加州Palo Alto的公司的63,643股股票以来，特斯拉股价已上涨约4%，估计价值约4,370万美元。</blockquote></p><p> Wood’s firm holds large bets in Tesla which it predicts will hit the&nbsp;$3,000 mark at the end of 2025.</p><p><blockquote>伍德的公司在特斯拉下了很大的赌注，预计到2025年底将达到3,000美元大关。</blockquote></p><p> Just last week, Wood compared Tesla with&nbsp;<b>Apple Inc</b>AAPL 0.28%in an interview with RealVision and had suggested a huge inefficiency in analyst research behind Tesla, as reported by&nbsp;Markets Insider.</p><p><blockquote>就在上周，伍德将特斯拉与<b>苹果公司</b>据Markets Insider报道，AAPL在接受RealVision采访时上涨了0.28%，并暗示特斯拉背后的分析师研究效率极低。</blockquote></p><p> Ark Invest on Wednesday deployed the&nbsp;<b>Ark Next Generation Internet ETF</b>&nbsp;to sell shares in Tesla and also holds positions in the&nbsp;<b>Elon Musk</b>&nbsp;company via two other traded funds, namely, the&nbsp;<b>Ark Autonomous Technology &amp; Robotics ETF</b>&nbsp;and the&nbsp;<b>Ark Innovation ETF</b>.</p><p><blockquote>Ark Invest周三部署了<b>方舟下一代互联网ETF</b>出售特斯拉的股份，并持有<b>埃隆·马斯克</b>本公司透过另外两个交易基金，即<b>Ark自主技术与机器人ETF</b>和<b>方舟创新ETF</b>.</blockquote></p><p> Together the three ETFs held about 4.85 million shares, worth $3.4 billion, in Tesla ahead of Wednesday’s trades.</p><p><blockquote>在周三交易之前，这三只ETF总共持有特斯拉约485万股股票，价值34亿美元。</blockquote></p><p> Some of the other key Ark Invest sells on Wednesday included&nbsp;<b>Square Inc</b>&nbsp;and buys included&nbsp;<b>UiPath Inc</b>.</p><p><blockquote>Ark Invest周三出售的其他一些关键产品包括<b>广场公司</b>并包括购买<b>UiPath公司</b>.</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKK":"ARK Innovation ETF","ARKW":"ARK Next Generation Internet ETF","TSLA":"特斯拉","ARKQ":"ARK Autonomous Technology & Robotics ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112520778","content_text":"Cathie Wood-led Ark Invest on Wednesday shed less than half a percent of its position in Elon Musk-led Tesla Inc as the shares of the electric vehicle company climbed.\nArk Invest sold a total of 8,100 shares, estimated to be worth about $5.76 million, in Tesla based on the stock’s closing price of $710.92 on Wednesday.\nTesla shares have jumped about 4% since Friday when the New York-based Ark Invest sold 63,643 shares,estimated to be worth about $43.7 million in the Palo Alto, California-based company.\nWood’s firm holds large bets in Tesla which it predicts will hit the $3,000 mark at the end of 2025.\nJust last week, Wood compared Tesla with Apple IncAAPL 0.28%in an interview with RealVision and had suggested a huge inefficiency in analyst research behind Tesla, as reported by Markets Insider.\nArk Invest on Wednesday deployed the Ark Next Generation Internet ETF to sell shares in Tesla and also holds positions in the Elon Musk company via two other traded funds, namely, the Ark Autonomous Technology & Robotics ETF and the Ark Innovation ETF.\nTogether the three ETFs held about 4.85 million shares, worth $3.4 billion, in Tesla ahead of Wednesday’s trades.\nSome of the other key Ark Invest sells on Wednesday included Square Inc and buys included UiPath Inc.","news_type":1,"symbols_score_info":{"ARKQ":0.9,"ARKK":0.9,"ARKW":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":574,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122225133,"gmtCreate":1624624358022,"gmtModify":1633950411843,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/122225133","repostId":"2146023165","repostType":4,"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108613215,"gmtCreate":1620017647637,"gmtModify":1631888415360,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AJBU.SI\">$KEPPEL DC REIT(AJBU.SI)$</a>Good price to invest?","listText":"<a href=\"https://laohu8.com/S/AJBU.SI\">$KEPPEL DC REIT(AJBU.SI)$</a>Good price to invest?","text":"$KEPPEL DC REIT(AJBU.SI)$Good price to invest?","images":[{"img":"https://static.tigerbbs.com/82be2d517dad193bf4efd4d8355b1c16","width":"720","height":"1280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/108613215","isVote":1,"tweetType":1,"viewCount":1493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":821243404,"gmtCreate":1633751612385,"gmtModify":1633751628210,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/821243404","repostId":"1195802602","repostType":4,"repost":{"id":"1195802602","kind":"news","pubTimestamp":1633749735,"share":"https://www.laohu8.com/m/news/1195802602?lang=zh_CN&edition=full","pubTime":"2021-10-09 11:22","market":"fut","language":"en","title":"What Happens to Bitcoin After All 21 Million Are Mined?<blockquote>2100万枚地雷全部开采后，比特币会发生什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1195802602","media":"Investopedia","summary":"KEY TAKEAWAYS\n\nThere are only 21 million bitcoins that can be mined in total.\nBitcoin will never rea","content":"<p><b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>There are only 21 million bitcoins that can be mined in total.</li>  <li>Bitcoin will never reach that cap due to the use of rounding operators in its codebase.</li>  <li>As of Aug, 2021, 18.77 million bitcoins have been mined, which leaves roughly 2.3 million yet to be introduced into circulation.</li>  <li>When Bitcoin reaches its supply cap, block rewards will vanish, and miners will depend on fees from transactions occurring on the cryptocurrency's network for revenue.</li>  <li>Bitcoin's network may evolve from its current unfinished state to becoming a bridge for monetary transactions and trading.</li>  <li>Bitcoin the cryptocurrency will have a defined identity in the financial ecosystem.</li> </ul> One of the chief characteristics of Bitcoin&nbsp;is its limited supply. Other forms of money, including fiat currencies, can be printed at will by central banks—i.e., they have unlimited supply.</p><p><blockquote><ul><li>总共只有2100万个比特币可以开采。</li><li>由于在其代码库中使用了舍入运算符，比特币永远不会达到这个上限。</li><li>截至2021年8月，已有1877万枚比特币被开采，其中约230万枚尚未投入流通。</li><li>当比特币达到其供应上限时，区块奖励将消失，矿工将依赖加密货币网络上发生的交易费用来获得收入。</li><li>比特币的网络可能会从目前的未完工状态演变为货币交易和交易的桥梁。</li><li>比特币加密货币将在金融生态系统中拥有明确的身份。</li></ul>比特币的主要特点之一是供应有限。其他形式的货币，包括法定货币，可以由央行随意印刷——也就是说，它们的供应量是无限的。</blockquote></p><p> Bitcoin inventor Satoshi Nakamoto capped the number of bitcoin at 21 million, meaning there will only ever be 21 million bitcoins in existence. On average, these bitcoins are introduced to the Bitcoin supply at a fixed rate of one block every 10 minutes. In addition, the number of bitcoins released in each of these aforementioned blocks is reduced by 50% every four years. By August 2021, 18.7 million bitcoins were available, leaving roughly 2.3 million to be&nbsp;mined.The supply limitation makes Bitcoin scarce and controls inflation that might arise from an unlimited supply of the&nbsp;cryptocurrency.</p><p><blockquote>比特币发明家中本聪将比特币的数量限制在2100万，这意味着只有2100万个比特币存在。平均而言，这些比特币以每10分钟一个区块的固定速度引入比特币供应。此外，在上述每个区块中释放的比特币数量每四年减少50%。到2021年8月，有1870万个比特币可用，剩下大约230万个比特币有待开采。供应限制使比特币稀缺，并控制了加密货币无限供应可能引起的通货膨胀。</blockquote></p><p> As Bitcoin reaches its capped supply, its economics will alter. The incentives for various members in its ecosystem, such as miners and traders, will change. For example, miners may rely less on&nbsp;block rewards&nbsp;and more on transaction fees to earn revenue and profits for their operations. The cryptocurrency's network will also transform, and its participants will be different from the retail traders that populate its current ecosystem.</p><p><blockquote>随着比特币达到供应上限，其经济将发生变化。对其生态系统中各种成员（如矿工和贸易商）的激励将发生变化。例如，矿工可能较少依赖区块奖励，而更多地依赖交易费用来为其运营赚取收入和利润。加密货币的网络也将发生转变，其参与者将不同于当前生态系统中的散户交易者。</blockquote></p><p> However, given the cryptocurrency's relatively undeveloped ecosystem, it is difficult to predict with certainty the effect of Bitcoin reaching its capped supply.</p><p><blockquote>然而，鉴于加密货币相对不发达的生态系统，很难确定地预测比特币达到其上限供应的影响。</blockquote></p><p> <b>Will Bitcoin Ever Reach the 21 Million Cap?</b></p><p><blockquote><b>比特币会达到2100万英镑的上限吗？</b></blockquote></p><p> Before delving into the implications of Bitcoin's 21 million cap, it might be interesting to consider the question of whether it will ever reach that figure. Based on the cryptocurrency's current codebase and mining process, some observers say that Bitcoin may fall just shy of the 21 million figure.</p><p><blockquote>在深入研究比特币2100万英镑上限的影响之前，考虑一下它是否会达到这个数字可能会很有趣。根据加密货币目前的代码库和挖掘过程，一些观察人士表示，比特币可能会略低于2100万的数字。</blockquote></p><p> To recap, Bitcoin is \"mined\" by miners who solve cryptographic puzzles to verify and validate a block of transactions occurring in its network. Block rewards, consisting of a set number of bitcoins, are distributed to miners who successfully confirm a transaction block. The rewards are halved every four years.</p><p><blockquote>概括地说，比特币是由解决加密难题的矿工“挖掘”的，以验证和验证其网络中发生的一组交易。区块奖励由一定数量的比特币组成，分发给成功确认交易区块的矿工。奖励每四年减半。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d1d9aa1b5581477bf14edfde0292f21\" tg-width=\"660\" tg-height=\"513\" referrerpolicy=\"no-referrer\"><span>The rate that bitcoin are produced cuts in half about every four years. Investopedia</span></p><p><blockquote><p class=\"t-img-caption\"><span>比特币的生产速度大约每四年减半。投资百科</span></p></blockquote></p><p> When the cryptocurrency was launched, the reward for confirming a block of transactions was 50 bitcoins. In 2012, it was halved to 25 bitcoins, and it went down to 12.5 in 2016. In May 2020, miners stood to earn 6.25 bitcoin for every new block. Block rewards for Bitcoin miners will continue to be halved every four years until the final bitcoin is mined. Current estimates for mining of the final bitcoin put that date somewhere in February 2140.</p><p><blockquote>当加密货币推出时，确认一笔交易的奖励是50个比特币。2012年减半至25个比特币，2016年降至12.5个。2020年5月，每个新区块矿工将获得6.25比特币。比特币矿工的区块奖励将继续每四年减半，直到最后一个比特币被开采。目前对最终比特币开采的估计是2140年2月。</blockquote></p><p>   <b>Important:</b>The Bitcoin mining process provides bitcoin rewards to miners, but the reward size decreases periodically to control the circulation of new tokens.  According to Andreas M. Antonopoulos, author of a book about Bitcoin's workings, the 21 million figure is an \"asymptotic cap\" on the number of bitcoin in existence.In simple words, this means that, while it may reach very close to figure, the cryptocurrency will never reach that limit. This is because block rewards and Bitcoin supply are never expressed in exact terms. Bitcoin's code uses bit-shift operators—arithmetic operators used that round decimal points to the closest smallest integer in certain programming languages. Therefore, a total supply of 6.2589 bitcoins will be rounded out to the closest smallest integer, in this case 6.</p><p><blockquote><b>重要提示：</b>比特币挖矿过程为矿工提供比特币奖励，但奖励规模会周期性减少，以控制新代币的流通。根据一本关于比特币运作的书的作者Andreas M.Antonopoulos的说法，2100万这个数字是现存比特币数量的“渐近上限”。简而言之，这意味着，虽然它可能会非常接近数字，但加密货币永远不会达到这一限制。这是因为块奖励和比特币供应从来没有用确切的术语来表达。比特币的代码使用位移位运算符——在某些编程语言中，用于将小数点四舍五入到最接近的最小整数的算术运算符。因此，6.2589个比特币的总供应量将四舍五入到最接近的最小整数，在本例中为6。</blockquote></p><p> While it makes calculations easier, the practice leads to losses in&nbsp;satoshis, Bitcoin's constituent units, during each block confirmation. One bitcoin is equal to 100 million satoshis. According to some, the final bitcoin block will be numbered 6,929,999, and the total supply at that time will be 20,999,999.9769 satoshis. Since bitcoin uses a bit-shift operator system,3its algorithm will round off that figure to 20,999,999 and leave the cryptocurrency just shy of its 21 million targeted cap.</p><p><blockquote>虽然这种做法使计算变得更容易，但在每次区块确认期间，这种做法会导致比特币的组成单位satoshis的损失。一个比特币等于一亿个聪。根据一些人的说法，最终的比特币区块将编号为6,929,999，届时的总供应量将为20,999,999.9769 satoshis。由于比特币使用位移位运算符系统，3its算法将把这个数字四舍五入到20,999，999，使加密货币略低于其2100万的目标上限。</blockquote></p><p> <b>What Happens When All 21 Million Bitcoin Are Mined?</b></p><p><blockquote><b>当2100万枚比特币全部被开采后会发生什么？</b></blockquote></p><p></p><p> A consequence of Bitcoin not reaching its planned cap is that it leaves open the possibility that the cryptocurrency's network will remain functional for a long time after 2140. No bitcoins will be issued, but transaction blocks will be confirmed, and fees will become the primary source of revenue. Ultimately, Bitcoin's network may function as a&nbsp;closed economy, in which transaction fees are assessed much like taxes are.</p><p><blockquote>比特币没有达到其计划上限的一个后果是，它留下了加密货币网络在2140年之后长期保持功能的可能性。不会发行比特币，但交易区块将得到确认，费用将成为主要收入来源。最终，比特币的网络可能会像一个封闭的经济体一样运作，交易费用的评估就像税收一样。</blockquote></p><p> Can the rewards be in satoshis instead of actual bitcoin? Such a practice is unlikely and would require a change in the cryptocurrency's protocol to take effect.</p><p><blockquote>奖励可以是satoshis而不是实际的比特币吗？这种做法不太可能，需要改变加密货币的协议才能生效。</blockquote></p><p> That said, it is difficult to predict the effects of Bitcoin almost reaching the overall supply promised by Satoshi Nakamoto. This is partly because Bitcoin's ecosystem is still undeveloped. The cryptocurrency was originally conceptualized as a medium of exchange but it has found more popularity as a store of value—an investing asset—instead. It is possible that Bitcoin's ecosystem and workings might undergo a transformation, similar to the one that has occured in its identity, between now and 2140.</p><p><blockquote>也就是说，很难预测比特币几乎达到中本聪承诺的总体供应量的影响。这部分是因为比特币的生态系统仍然不发达。加密货币最初被概念化为一种交换媒介，但它作为一种价值储存手段——一种投资资产——越来越受欢迎。从现在到2140年，比特币的生态系统和运作方式可能会发生转变，类似于其身份发生的转变。</blockquote></p><p> <b>Important:</b>Although there can only ever be a maximum of 21 million bitcoins, because people have lost their private keys or have died without leaving their private key instructions to anybody, the actual amount of available bitcoins in circulation could actually be millions less.</p><p><blockquote><b>重要提示：</b>尽管比特币最多只能有2100万个，但由于人们丢失了私钥或在没有将私钥指令留给任何人的情况下去世，流通中的可用比特币的实际数量实际上可能会少数百万个。</blockquote></p><p> For example, there could be a protocol change in the cryptocurrency's&nbsp;blockchain&nbsp;to allow for more than 21 million bitcoin in existence. Remember, Bitcoin is an open source cryptocurrency and can be changed to create&nbsp;hard&nbsp;or&nbsp;soft forks&nbsp;that create new cryptocurrencies or alter its functioning. Some examples of the former are&nbsp;bitcoin cash(BCHUSD),litecoin(LTCUSD), anddogecoin(DOGEUSD), which have made minor modifications to Bitcoin's source code and created new coins that have racked up billions of dollars in market valuations.</p><p><blockquote>例如，加密货币的区块链可能会发生协议变化，以允许超过2100万个比特币存在。请记住，比特币是一种开源加密货币，可以进行更改以创建硬分叉或软分叉，从而创建新的加密货币或改变其功能。前者的一些例子是比特币现金（BCHUSD）、莱特币（LTCUSD）和狗狗币（DOGEUSD），它们对比特币的源代码进行了微小的修改，并创造了市场估值达到数十亿美元的新硬币。</blockquote></p><p> <b>Effect on Bitcoin Miners</b></p><p><blockquote><b>对比特币矿工的影响</b></blockquote></p><p> Block rewards and transaction fees are the most important sources of revenue for miners—the former more so than the latter in the current setup. High prices for bitcoin enable miners to cover operational costs and sustain business profits because they can sell their rewards stash in cryptocurrency markets.</p><p><blockquote>区块奖励和交易费是矿工最重要的收入来源——在当前的设置中，前者比后者更重要。比特币的高价格使矿工能够支付运营成本并维持商业利润，因为他们可以在加密货币市场出售他们的奖励储备。</blockquote></p><p> When Bitcoin is close to reaching its limit, the reward amounts may not be enough to cover operational costs at miners, let alone generate profits. If and when the supply limit is reached, Bitcoin rewards are supposed to vanish.</p><p><blockquote>当比特币接近极限时，奖励金额可能不足以支付矿商的运营成本，更不用说产生利润了。如果达到供应限制，比特币奖励应该会消失。</blockquote></p><p> In both instances, transaction fees are expected to pick up the slack. The amount of and mechanism for these fees depends on the state of Bitcoin's network at that point in time—i.e., whether it is being used as a medium of exchange or as a store of value.&nbsp;The former may incur reasonable fees to enable Bitcoin's use in daily transactions, while the latter scenario will have miners conducting fewer and more expensive transactions.</p><p><blockquote>在这两种情况下，交易费用预计将弥补这一缺口。这些费用的金额和机制取决于比特币网络在该时间点的状态，即它是被用作交换媒介还是价值储存手段。前者可能会产生合理的费用，以使比特币能够在日常交易中使用，而后者将使矿工进行更少和更昂贵的交易。</blockquote></p><p> Another possibility being put forward is that of miners forming cartels amongst themselves. They might control supply to set high transaction fees or a fee amount that guarantees them a minimum in profits.Selfish mining&nbsp;is another possibility. In this form of mining, miners collude amongst themselves to hide new blocks and release orphan blocks that are not confirmed by Bitcoin's network. This practice will delay production of the final block in Bitcoin's network and ensure high rewards for the new blocks when they are finally released into the network.</p><p><blockquote>提出的另一种可能性是矿工之间形成卡特尔。他们可能会控制供应，以设定高额交易费用或保证最低利润的费用金额。自私采矿是另一种可能性。在这种形式的挖矿中，矿工们相互勾结隐藏新的区块，并释放未经比特币网络确认的孤立区块。这种做法将延迟比特币网络中最后一个区块的生产，并确保新区块最终发布到网络中时获得高额奖励。</blockquote></p><p> The formation of a Bitcoin miners' cartel is not a far-reaching conclusion. Such groupings already exist in other commodities whose supply is constrained or controlled. For example, oil prices are influenced to a large degree by&nbsp;OPEC's production output. Prices in the diamond industry are also reportedly set by a cartel led by mining giant DeBeers.</p><p><blockquote>比特币矿商卡特尔的形成并不是一个影响深远的结论。这种分组已经存在于供应受到限制或控制的其他商品中。例如，油价在很大程度上受到欧佩克产量的影响。据报道，钻石行业的价格也是由矿业巨头DeBeers领导的卡特尔设定的。</blockquote></p><p> <b>Effect on Bitcoin's Network</b></p><p><blockquote><b>对比特币网络的影响</b></blockquote></p><p> The most valuable and useful aspect of Bitcoin is its network.Distributed ledger technology&nbsp;is a technological solution to the time-consuming bookkeeping and accounting that characterizes most financial transactions today.</p><p><blockquote>比特币最有价值和最有用的方面是它的网络。分布式账本技术是当今大多数金融交易所特有的耗时簿记和会计的技术解决方案。</blockquote></p><p> If Bitcoin becomes popular as a medium of exchange in the future, its transaction numbers will surge. Past precedent has shown that there is a significant chance that the network will slow down. This is because Bitcoin's architecture, which relies on a distributed database to hold copies of massive ledgers, sacrifices speed for accuracy and integrity.</p><p><blockquote>如果未来比特币作为交换媒介变得流行，其交易数量将会激增。过去的先例表明，网络很有可能会变慢。这是因为比特币的架构依赖于分布式数据库来保存大量分类账的副本，为了准确性和完整性而牺牲了速度。</blockquote></p><p> In such a scenario, it is likely that Layer 2 technologies, like the Lightning Network, will become responsible for confirming a majority of transactions on its network. Therefore, the cryptocurrency's actual network itself will be used only to settle large batches of transactions.</p><p><blockquote>在这种情况下，Layer 2技术（如Lightning Network）可能会负责确认其网络上的大多数交易。因此，加密货币的实际网络本身将仅用于结算大批量交易。</blockquote></p><p></p><p> A second possibility is that the number of transactions on Bitcoin's network falls. Such a situation is possible when Bitcoin becomes a&nbsp;reserve asset. Trades involving the cryptocurrency will be few. Retail traders and small trading firms, who dominate its current trading ecosystem, will be eliminated and replaced by large institutional players and established trading firms. They will conduct fewer and more expensive trades that will incur high transaction fees from miners.</p><p><blockquote>第二种可能性是比特币网络上的交易数量下降。当比特币成为储备资产时，这种情况是可能的。涉及加密货币的交易将会很少。主导当前交易生态系统的零售交易商和小型贸易公司将被淘汰，并被大型机构参与者和老牌贸易公司取代。他们将进行更少、更昂贵的交易，这将导致矿商收取高额交易费用。</blockquote></p><p> <b>Effect on Bitcoin the Cryptocurrency</b></p><p><blockquote><b>加密货币对比特币的影响</b></blockquote></p><p> Bitcoin's inventor Satoshi Nakamoto designed the cryptocurrency to function as a medium of exchange for daily transactions. But its network has high transaction fees and slow processing times. Meanwhile, its scarcity and rising prices have become a magnet for speculative investors. Their bets on the cryptocurrency roulette have led to volatile price swings in the asset class deterring serious investors away from it. Regulators have criticized its ecosystem&nbsp;as a Wild West.</p><p><blockquote>比特币发明家中本聪设计了加密货币，作为日常交易的交换媒介。但其网络交易费用高，处理时间慢。与此同时，它的稀缺性和不断上涨的价格已经成为投机投资者的磁石。他们对加密货币轮盘赌的押注导致该资产类别的价格波动，阻止了认真的投资者远离它。监管机构批评其生态系统是狂野的西部。</blockquote></p><p> By the time that the last bitcoin is mined (or close to being mined), Bitcoin may have a more defined identity that it does currently. Side channels, like the&nbsp;Lightning Network, may have increased its network's transaction processing speed and enabled its use as a medium of exchange. Some countries like El Salvador are betting on such an eventuality and have&nbsp;made the cryptocurrency legal tender.</p><p><blockquote>当最后一个比特币被开采（或接近被开采）时，比特币可能会有一个比目前更明确的身份。侧通道，如闪电网络，可能提高了其网络的交易处理速度，并使其能够用作交换媒介。萨尔瓦多等一些国家押注于这种可能性，并已将加密货币定为法定货币。</blockquote></p><p>   <b>FAST&nbsp;FACT</b>    El Salvador made Bitcoin legal tender on June 9, 2021.It is the first country to do so. The cryptocurrency can be used for any transaction where the business can accept it. The U.S. dollar continues to be El Salvador's primary currency.  In the United States, the latest significant events are the&nbsp;Office of the Comptroller of the Currency&nbsp;(OCC) letter in January 2021 authorizing the use of crypto as a method of payment, PayPal Holdings, Inc.'s (PYPL) introduction of Bitcoin, and Tesla, Inc.'s (TSLA) acceptance of Bitcoin to purchase Tesla cars and solar roofs. Tesla reversed course on accepting Bitcoin in May 2021, citing environmental concerns around the resources required for Bitcoin mining.</p><p><blockquote><b>快速事实</b>萨尔瓦多于2021年6月9日将比特币定为法定货币。它是第一个这样做的国家。加密货币可用于企业可以接受的任何交易。美元仍然是萨尔瓦多的主要货币。在美国，最新的重大事件是货币监理署(OCC)于2021年1月致函授权使用加密货币作为支付方式、PayPal控股公司(PYPL)引入比特币，以及特斯拉公司(TSLA)接受比特币购买特斯拉汽车和太阳能屋顶。特斯拉于2021年5月改变了接受比特币的方针，理由是对比特币采矿所需资源的环境担忧。</blockquote></p><p> The increasing scarcity in its numbers will also have driven up bitcoin's price and the corresponding valuation of cryptocurrency markets. Regulators tend to move quickly when increasing amounts of capital flows into an asset class, and it is likely that crypto markets and Bitcoin will also have come under the regulatory umbrella. That will be a sign for institutional investors to move into the cryptocurrency's ecosystem and stabilize its price swings with massive liquidity.</p><p><blockquote>其数量的日益稀缺也将推高比特币的价格以及加密货币市场的相应估值。当增加流入某一资产类别的资金量时，监管机构往往会迅速采取行动，加密货币市场和比特币也很可能受到监管的保护。这将是机构投资者进入加密货币生态系统并通过大量流动性稳定其价格波动的信号。</blockquote></p><p> <b>The Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> Bitcoin's 21 million supply cap is meant to control inflation that might, otherwise, result from an unlimited supply. But it has inflated the cryptocurrency's prices by making it a scarce commodity.</p><p><blockquote>比特币2100万的供应上限旨在控制通胀，否则通胀可能会因无限供应而导致。但它使加密货币成为稀缺商品，从而抬高了加密货币的价格。</blockquote></p><p> When Bitcoin reaches the supply cap, it is likely that miners will shift from block rewards to transaction fees as their main source of revenue. Development of side channels, like the Lightning Network, may result in Bitcoin's blockchain restricting itself to confirmation of large batches of transactions or ones that involve movement of significant numbers of bitcoins from one address on its blockchain to another. Bitcoin's identity—as a store of value and a medium of exchange—will also be more clearly defined than it is currently.</p><p><blockquote>当比特币达到供应上限时，矿商很可能会从区块奖励转向交易费作为其主要收入来源。闪电网络等辅助渠道的发展可能会导致比特币的区块链将自己限制在确认大批量交易或涉及大量比特币从区块链的一个地址转移到另一个地址的交易。比特币的身份——作为价值储存和交换媒介——也将比目前更加明确。</blockquote></p><p> But none of these predictions are set in stone. The kinetic pace of developments in Bitcoin's ecosystem means that it is difficult to accurately predict its future. For example, the cryptocurrency's protocol may be changed to accommodate the production of more than 21 million bitcoins. Or, it may fall just shy of reaching 21 million.</p><p><blockquote>但这些预测都不是一成不变的。比特币生态系统发展的动态步伐意味着很难准确预测其未来。例如，加密货币的协议可能会发生变化，以适应超过2100万个比特币的生产。或者，它可能会接近2100万。</blockquote></p><p> <b>Frequently Asked Questions</b></p><p><blockquote><b>常见问题</b></blockquote></p><p> <ul>  <li>What is Bitcoin's total supply?</li> </ul> The total supply of bitcoins is capped at 21 million.</p><p><blockquote><ul><li>比特币的总供应量是多少？</li></ul>比特币的总供应量上限为2100万枚。</blockquote></p><p> <ul>  <li>What will happen to miner fees when Bitcoin's supply limit is reached?</li> </ul> When Bitcoin supply reaches 21 million, miners will rely on transaction fees rather than block rewards, which will have vanished by then, for revenue.</p><p><blockquote><ul><li>当比特币达到供应上限时，矿工费用会发生什么变化？</li></ul>当比特币供应量达到2100万时，矿商将依靠交易费而不是区块奖励来获得收入，区块奖励届时将消失。</blockquote></p><p> <ul>  <li>What will happen to Bitcoin's network when it reaches the supply limit?</li> </ul> When Bitcoin reaches the 21 million supply limit, it is likely that side channels, like the Lightning Network, will do most of the heavy lifting in confirming its transactions. The cryptocurrency's blockchain be responsible for confirming only very large batches of transactions or ones that involve movement of large sums of bitcoin from one address to another.</p><p><blockquote><ul><li>当比特币的网络达到供应极限时会发生什么？</li></ul>当比特币达到2100万的供应限额时，像闪电网络这样的侧渠道很可能会承担确认其交易的大部分繁重工作。加密货币的区块链只负责确认非常大批量的交易或涉及大量比特币从一个地址转移到另一个地址的交易。</blockquote></p><p> <ul>  <li>What happens if Bitcoin supply fails to reach the 21 million cap?</li> </ul> One consequence of Bitcoin not reaching its planned cap is that it leaves open the possibility that the cryptocurrency's network will remain functional for a long time after 2140. In keeping with Bitcoin's economics, rewards for confirming these blocks will be minimal.</p><p><blockquote><ul><li>如果比特币的供应量达不到2100万的上限会怎么样？</li></ul>比特币未能达到其计划上限的一个后果是，它留下了加密货币网络在2140年之后长期保持功能的可能性。根据比特币的经济学，确认这些区块的回报将微乎其微。</blockquote></p><p></p>","source":"lsy1606203311635","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>What Happens to Bitcoin After All 21 Million Are Mined?<blockquote>2100万枚地雷全部开采后，比特币会发生什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Happens to Bitcoin After All 21 Million Are Mined?<blockquote>2100万枚地雷全部开采后，比特币会发生什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Investopedia</strong><span class=\"h-time small\">2021-10-09 11:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>There are only 21 million bitcoins that can be mined in total.</li>  <li>Bitcoin will never reach that cap due to the use of rounding operators in its codebase.</li>  <li>As of Aug, 2021, 18.77 million bitcoins have been mined, which leaves roughly 2.3 million yet to be introduced into circulation.</li>  <li>When Bitcoin reaches its supply cap, block rewards will vanish, and miners will depend on fees from transactions occurring on the cryptocurrency's network for revenue.</li>  <li>Bitcoin's network may evolve from its current unfinished state to becoming a bridge for monetary transactions and trading.</li>  <li>Bitcoin the cryptocurrency will have a defined identity in the financial ecosystem.</li> </ul> One of the chief characteristics of Bitcoin&nbsp;is its limited supply. Other forms of money, including fiat currencies, can be printed at will by central banks—i.e., they have unlimited supply.</p><p><blockquote><ul><li>总共只有2100万个比特币可以开采。</li><li>由于在其代码库中使用了舍入运算符，比特币永远不会达到这个上限。</li><li>截至2021年8月，已有1877万枚比特币被开采，其中约230万枚尚未投入流通。</li><li>当比特币达到其供应上限时，区块奖励将消失，矿工将依赖加密货币网络上发生的交易费用来获得收入。</li><li>比特币的网络可能会从目前的未完工状态演变为货币交易和交易的桥梁。</li><li>比特币加密货币将在金融生态系统中拥有明确的身份。</li></ul>比特币的主要特点之一是供应有限。其他形式的货币，包括法定货币，可以由央行随意印刷——也就是说，它们的供应量是无限的。</blockquote></p><p> Bitcoin inventor Satoshi Nakamoto capped the number of bitcoin at 21 million, meaning there will only ever be 21 million bitcoins in existence. On average, these bitcoins are introduced to the Bitcoin supply at a fixed rate of one block every 10 minutes. In addition, the number of bitcoins released in each of these aforementioned blocks is reduced by 50% every four years. By August 2021, 18.7 million bitcoins were available, leaving roughly 2.3 million to be&nbsp;mined.The supply limitation makes Bitcoin scarce and controls inflation that might arise from an unlimited supply of the&nbsp;cryptocurrency.</p><p><blockquote>比特币发明家中本聪将比特币的数量限制在2100万，这意味着只有2100万个比特币存在。平均而言，这些比特币以每10分钟一个区块的固定速度引入比特币供应。此外，在上述每个区块中释放的比特币数量每四年减少50%。到2021年8月，有1870万个比特币可用，剩下大约230万个比特币有待开采。供应限制使比特币稀缺，并控制了加密货币无限供应可能引起的通货膨胀。</blockquote></p><p> As Bitcoin reaches its capped supply, its economics will alter. The incentives for various members in its ecosystem, such as miners and traders, will change. For example, miners may rely less on&nbsp;block rewards&nbsp;and more on transaction fees to earn revenue and profits for their operations. The cryptocurrency's network will also transform, and its participants will be different from the retail traders that populate its current ecosystem.</p><p><blockquote>随着比特币达到供应上限，其经济将发生变化。对其生态系统中各种成员（如矿工和贸易商）的激励将发生变化。例如，矿工可能较少依赖区块奖励，而更多地依赖交易费用来为其运营赚取收入和利润。加密货币的网络也将发生转变，其参与者将不同于当前生态系统中的散户交易者。</blockquote></p><p> However, given the cryptocurrency's relatively undeveloped ecosystem, it is difficult to predict with certainty the effect of Bitcoin reaching its capped supply.</p><p><blockquote>然而，鉴于加密货币相对不发达的生态系统，很难确定地预测比特币达到其上限供应的影响。</blockquote></p><p> <b>Will Bitcoin Ever Reach the 21 Million Cap?</b></p><p><blockquote><b>比特币会达到2100万英镑的上限吗？</b></blockquote></p><p> Before delving into the implications of Bitcoin's 21 million cap, it might be interesting to consider the question of whether it will ever reach that figure. Based on the cryptocurrency's current codebase and mining process, some observers say that Bitcoin may fall just shy of the 21 million figure.</p><p><blockquote>在深入研究比特币2100万英镑上限的影响之前，考虑一下它是否会达到这个数字可能会很有趣。根据加密货币目前的代码库和挖掘过程，一些观察人士表示，比特币可能会略低于2100万的数字。</blockquote></p><p> To recap, Bitcoin is \"mined\" by miners who solve cryptographic puzzles to verify and validate a block of transactions occurring in its network. Block rewards, consisting of a set number of bitcoins, are distributed to miners who successfully confirm a transaction block. The rewards are halved every four years.</p><p><blockquote>概括地说，比特币是由解决加密难题的矿工“挖掘”的，以验证和验证其网络中发生的一组交易。区块奖励由一定数量的比特币组成，分发给成功确认交易区块的矿工。奖励每四年减半。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d1d9aa1b5581477bf14edfde0292f21\" tg-width=\"660\" tg-height=\"513\" referrerpolicy=\"no-referrer\"><span>The rate that bitcoin are produced cuts in half about every four years. Investopedia</span></p><p><blockquote><p class=\"t-img-caption\"><span>比特币的生产速度大约每四年减半。投资百科</span></p></blockquote></p><p> When the cryptocurrency was launched, the reward for confirming a block of transactions was 50 bitcoins. In 2012, it was halved to 25 bitcoins, and it went down to 12.5 in 2016. In May 2020, miners stood to earn 6.25 bitcoin for every new block. Block rewards for Bitcoin miners will continue to be halved every four years until the final bitcoin is mined. Current estimates for mining of the final bitcoin put that date somewhere in February 2140.</p><p><blockquote>当加密货币推出时，确认一笔交易的奖励是50个比特币。2012年减半至25个比特币，2016年降至12.5个。2020年5月，每个新区块矿工将获得6.25比特币。比特币矿工的区块奖励将继续每四年减半，直到最后一个比特币被开采。目前对最终比特币开采的估计是2140年2月。</blockquote></p><p>   <b>Important:</b>The Bitcoin mining process provides bitcoin rewards to miners, but the reward size decreases periodically to control the circulation of new tokens.  According to Andreas M. Antonopoulos, author of a book about Bitcoin's workings, the 21 million figure is an \"asymptotic cap\" on the number of bitcoin in existence.In simple words, this means that, while it may reach very close to figure, the cryptocurrency will never reach that limit. This is because block rewards and Bitcoin supply are never expressed in exact terms. Bitcoin's code uses bit-shift operators—arithmetic operators used that round decimal points to the closest smallest integer in certain programming languages. Therefore, a total supply of 6.2589 bitcoins will be rounded out to the closest smallest integer, in this case 6.</p><p><blockquote><b>重要提示：</b>比特币挖矿过程为矿工提供比特币奖励，但奖励规模会周期性减少，以控制新代币的流通。根据一本关于比特币运作的书的作者Andreas M.Antonopoulos的说法，2100万这个数字是现存比特币数量的“渐近上限”。简而言之，这意味着，虽然它可能会非常接近数字，但加密货币永远不会达到这一限制。这是因为块奖励和比特币供应从来没有用确切的术语来表达。比特币的代码使用位移位运算符——在某些编程语言中，用于将小数点四舍五入到最接近的最小整数的算术运算符。因此，6.2589个比特币的总供应量将四舍五入到最接近的最小整数，在本例中为6。</blockquote></p><p> While it makes calculations easier, the practice leads to losses in&nbsp;satoshis, Bitcoin's constituent units, during each block confirmation. One bitcoin is equal to 100 million satoshis. According to some, the final bitcoin block will be numbered 6,929,999, and the total supply at that time will be 20,999,999.9769 satoshis. Since bitcoin uses a bit-shift operator system,3its algorithm will round off that figure to 20,999,999 and leave the cryptocurrency just shy of its 21 million targeted cap.</p><p><blockquote>虽然这种做法使计算变得更容易，但在每次区块确认期间，这种做法会导致比特币的组成单位satoshis的损失。一个比特币等于一亿个聪。根据一些人的说法，最终的比特币区块将编号为6,929,999，届时的总供应量将为20,999,999.9769 satoshis。由于比特币使用位移位运算符系统，3its算法将把这个数字四舍五入到20,999，999，使加密货币略低于其2100万的目标上限。</blockquote></p><p> <b>What Happens When All 21 Million Bitcoin Are Mined?</b></p><p><blockquote><b>当2100万枚比特币全部被开采后会发生什么？</b></blockquote></p><p></p><p> A consequence of Bitcoin not reaching its planned cap is that it leaves open the possibility that the cryptocurrency's network will remain functional for a long time after 2140. No bitcoins will be issued, but transaction blocks will be confirmed, and fees will become the primary source of revenue. Ultimately, Bitcoin's network may function as a&nbsp;closed economy, in which transaction fees are assessed much like taxes are.</p><p><blockquote>比特币没有达到其计划上限的一个后果是，它留下了加密货币网络在2140年之后长期保持功能的可能性。不会发行比特币，但交易区块将得到确认，费用将成为主要收入来源。最终，比特币的网络可能会像一个封闭的经济体一样运作，交易费用的评估就像税收一样。</blockquote></p><p> Can the rewards be in satoshis instead of actual bitcoin? Such a practice is unlikely and would require a change in the cryptocurrency's protocol to take effect.</p><p><blockquote>奖励可以是satoshis而不是实际的比特币吗？这种做法不太可能，需要改变加密货币的协议才能生效。</blockquote></p><p> That said, it is difficult to predict the effects of Bitcoin almost reaching the overall supply promised by Satoshi Nakamoto. This is partly because Bitcoin's ecosystem is still undeveloped. The cryptocurrency was originally conceptualized as a medium of exchange but it has found more popularity as a store of value—an investing asset—instead. It is possible that Bitcoin's ecosystem and workings might undergo a transformation, similar to the one that has occured in its identity, between now and 2140.</p><p><blockquote>也就是说，很难预测比特币几乎达到中本聪承诺的总体供应量的影响。这部分是因为比特币的生态系统仍然不发达。加密货币最初被概念化为一种交换媒介，但它作为一种价值储存手段——一种投资资产——越来越受欢迎。从现在到2140年，比特币的生态系统和运作方式可能会发生转变，类似于其身份发生的转变。</blockquote></p><p> <b>Important:</b>Although there can only ever be a maximum of 21 million bitcoins, because people have lost their private keys or have died without leaving their private key instructions to anybody, the actual amount of available bitcoins in circulation could actually be millions less.</p><p><blockquote><b>重要提示：</b>尽管比特币最多只能有2100万个，但由于人们丢失了私钥或在没有将私钥指令留给任何人的情况下去世，流通中的可用比特币的实际数量实际上可能会少数百万个。</blockquote></p><p> For example, there could be a protocol change in the cryptocurrency's&nbsp;blockchain&nbsp;to allow for more than 21 million bitcoin in existence. Remember, Bitcoin is an open source cryptocurrency and can be changed to create&nbsp;hard&nbsp;or&nbsp;soft forks&nbsp;that create new cryptocurrencies or alter its functioning. Some examples of the former are&nbsp;bitcoin cash(BCHUSD),litecoin(LTCUSD), anddogecoin(DOGEUSD), which have made minor modifications to Bitcoin's source code and created new coins that have racked up billions of dollars in market valuations.</p><p><blockquote>例如，加密货币的区块链可能会发生协议变化，以允许超过2100万个比特币存在。请记住，比特币是一种开源加密货币，可以进行更改以创建硬分叉或软分叉，从而创建新的加密货币或改变其功能。前者的一些例子是比特币现金（BCHUSD）、莱特币（LTCUSD）和狗狗币（DOGEUSD），它们对比特币的源代码进行了微小的修改，并创造了市场估值达到数十亿美元的新硬币。</blockquote></p><p> <b>Effect on Bitcoin Miners</b></p><p><blockquote><b>对比特币矿工的影响</b></blockquote></p><p> Block rewards and transaction fees are the most important sources of revenue for miners—the former more so than the latter in the current setup. High prices for bitcoin enable miners to cover operational costs and sustain business profits because they can sell their rewards stash in cryptocurrency markets.</p><p><blockquote>区块奖励和交易费是矿工最重要的收入来源——在当前的设置中，前者比后者更重要。比特币的高价格使矿工能够支付运营成本并维持商业利润，因为他们可以在加密货币市场出售他们的奖励储备。</blockquote></p><p> When Bitcoin is close to reaching its limit, the reward amounts may not be enough to cover operational costs at miners, let alone generate profits. If and when the supply limit is reached, Bitcoin rewards are supposed to vanish.</p><p><blockquote>当比特币接近极限时，奖励金额可能不足以支付矿商的运营成本，更不用说产生利润了。如果达到供应限制，比特币奖励应该会消失。</blockquote></p><p> In both instances, transaction fees are expected to pick up the slack. The amount of and mechanism for these fees depends on the state of Bitcoin's network at that point in time—i.e., whether it is being used as a medium of exchange or as a store of value.&nbsp;The former may incur reasonable fees to enable Bitcoin's use in daily transactions, while the latter scenario will have miners conducting fewer and more expensive transactions.</p><p><blockquote>在这两种情况下，交易费用预计将弥补这一缺口。这些费用的金额和机制取决于比特币网络在该时间点的状态，即它是被用作交换媒介还是价值储存手段。前者可能会产生合理的费用，以使比特币能够在日常交易中使用，而后者将使矿工进行更少和更昂贵的交易。</blockquote></p><p> Another possibility being put forward is that of miners forming cartels amongst themselves. They might control supply to set high transaction fees or a fee amount that guarantees them a minimum in profits.Selfish mining&nbsp;is another possibility. In this form of mining, miners collude amongst themselves to hide new blocks and release orphan blocks that are not confirmed by Bitcoin's network. This practice will delay production of the final block in Bitcoin's network and ensure high rewards for the new blocks when they are finally released into the network.</p><p><blockquote>提出的另一种可能性是矿工之间形成卡特尔。他们可能会控制供应，以设定高额交易费用或保证最低利润的费用金额。自私采矿是另一种可能性。在这种形式的挖矿中，矿工们相互勾结隐藏新的区块，并释放未经比特币网络确认的孤立区块。这种做法将延迟比特币网络中最后一个区块的生产，并确保新区块最终发布到网络中时获得高额奖励。</blockquote></p><p> The formation of a Bitcoin miners' cartel is not a far-reaching conclusion. Such groupings already exist in other commodities whose supply is constrained or controlled. For example, oil prices are influenced to a large degree by&nbsp;OPEC's production output. Prices in the diamond industry are also reportedly set by a cartel led by mining giant DeBeers.</p><p><blockquote>比特币矿商卡特尔的形成并不是一个影响深远的结论。这种分组已经存在于供应受到限制或控制的其他商品中。例如，油价在很大程度上受到欧佩克产量的影响。据报道，钻石行业的价格也是由矿业巨头DeBeers领导的卡特尔设定的。</blockquote></p><p> <b>Effect on Bitcoin's Network</b></p><p><blockquote><b>对比特币网络的影响</b></blockquote></p><p> The most valuable and useful aspect of Bitcoin is its network.Distributed ledger technology&nbsp;is a technological solution to the time-consuming bookkeeping and accounting that characterizes most financial transactions today.</p><p><blockquote>比特币最有价值和最有用的方面是它的网络。分布式账本技术是当今大多数金融交易所特有的耗时簿记和会计的技术解决方案。</blockquote></p><p> If Bitcoin becomes popular as a medium of exchange in the future, its transaction numbers will surge. Past precedent has shown that there is a significant chance that the network will slow down. This is because Bitcoin's architecture, which relies on a distributed database to hold copies of massive ledgers, sacrifices speed for accuracy and integrity.</p><p><blockquote>如果未来比特币作为交换媒介变得流行，其交易数量将会激增。过去的先例表明，网络很有可能会变慢。这是因为比特币的架构依赖于分布式数据库来保存大量分类账的副本，为了准确性和完整性而牺牲了速度。</blockquote></p><p> In such a scenario, it is likely that Layer 2 technologies, like the Lightning Network, will become responsible for confirming a majority of transactions on its network. Therefore, the cryptocurrency's actual network itself will be used only to settle large batches of transactions.</p><p><blockquote>在这种情况下，Layer 2技术（如Lightning Network）可能会负责确认其网络上的大多数交易。因此，加密货币的实际网络本身将仅用于结算大批量交易。</blockquote></p><p></p><p> A second possibility is that the number of transactions on Bitcoin's network falls. Such a situation is possible when Bitcoin becomes a&nbsp;reserve asset. Trades involving the cryptocurrency will be few. Retail traders and small trading firms, who dominate its current trading ecosystem, will be eliminated and replaced by large institutional players and established trading firms. They will conduct fewer and more expensive trades that will incur high transaction fees from miners.</p><p><blockquote>第二种可能性是比特币网络上的交易数量下降。当比特币成为储备资产时，这种情况是可能的。涉及加密货币的交易将会很少。主导当前交易生态系统的零售交易商和小型贸易公司将被淘汰，并被大型机构参与者和老牌贸易公司取代。他们将进行更少、更昂贵的交易，这将导致矿商收取高额交易费用。</blockquote></p><p> <b>Effect on Bitcoin the Cryptocurrency</b></p><p><blockquote><b>加密货币对比特币的影响</b></blockquote></p><p> Bitcoin's inventor Satoshi Nakamoto designed the cryptocurrency to function as a medium of exchange for daily transactions. But its network has high transaction fees and slow processing times. Meanwhile, its scarcity and rising prices have become a magnet for speculative investors. Their bets on the cryptocurrency roulette have led to volatile price swings in the asset class deterring serious investors away from it. Regulators have criticized its ecosystem&nbsp;as a Wild West.</p><p><blockquote>比特币发明家中本聪设计了加密货币，作为日常交易的交换媒介。但其网络交易费用高，处理时间慢。与此同时，它的稀缺性和不断上涨的价格已经成为投机投资者的磁石。他们对加密货币轮盘赌的押注导致该资产类别的价格波动，阻止了认真的投资者远离它。监管机构批评其生态系统是狂野的西部。</blockquote></p><p> By the time that the last bitcoin is mined (or close to being mined), Bitcoin may have a more defined identity that it does currently. Side channels, like the&nbsp;Lightning Network, may have increased its network's transaction processing speed and enabled its use as a medium of exchange. Some countries like El Salvador are betting on such an eventuality and have&nbsp;made the cryptocurrency legal tender.</p><p><blockquote>当最后一个比特币被开采（或接近被开采）时，比特币可能会有一个比目前更明确的身份。侧通道，如闪电网络，可能提高了其网络的交易处理速度，并使其能够用作交换媒介。萨尔瓦多等一些国家押注于这种可能性，并已将加密货币定为法定货币。</blockquote></p><p>   <b>FAST&nbsp;FACT</b>    El Salvador made Bitcoin legal tender on June 9, 2021.It is the first country to do so. The cryptocurrency can be used for any transaction where the business can accept it. The U.S. dollar continues to be El Salvador's primary currency.  In the United States, the latest significant events are the&nbsp;Office of the Comptroller of the Currency&nbsp;(OCC) letter in January 2021 authorizing the use of crypto as a method of payment, PayPal Holdings, Inc.'s (PYPL) introduction of Bitcoin, and Tesla, Inc.'s (TSLA) acceptance of Bitcoin to purchase Tesla cars and solar roofs. Tesla reversed course on accepting Bitcoin in May 2021, citing environmental concerns around the resources required for Bitcoin mining.</p><p><blockquote><b>快速事实</b>萨尔瓦多于2021年6月9日将比特币定为法定货币。它是第一个这样做的国家。加密货币可用于企业可以接受的任何交易。美元仍然是萨尔瓦多的主要货币。在美国，最新的重大事件是货币监理署(OCC)于2021年1月致函授权使用加密货币作为支付方式、PayPal控股公司(PYPL)引入比特币，以及特斯拉公司(TSLA)接受比特币购买特斯拉汽车和太阳能屋顶。特斯拉于2021年5月改变了接受比特币的方针，理由是对比特币采矿所需资源的环境担忧。</blockquote></p><p> The increasing scarcity in its numbers will also have driven up bitcoin's price and the corresponding valuation of cryptocurrency markets. Regulators tend to move quickly when increasing amounts of capital flows into an asset class, and it is likely that crypto markets and Bitcoin will also have come under the regulatory umbrella. That will be a sign for institutional investors to move into the cryptocurrency's ecosystem and stabilize its price swings with massive liquidity.</p><p><blockquote>其数量的日益稀缺也将推高比特币的价格以及加密货币市场的相应估值。当增加流入某一资产类别的资金量时，监管机构往往会迅速采取行动，加密货币市场和比特币也很可能受到监管的保护。这将是机构投资者进入加密货币生态系统并通过大量流动性稳定其价格波动的信号。</blockquote></p><p> <b>The Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> Bitcoin's 21 million supply cap is meant to control inflation that might, otherwise, result from an unlimited supply. But it has inflated the cryptocurrency's prices by making it a scarce commodity.</p><p><blockquote>比特币2100万的供应上限旨在控制通胀，否则通胀可能会因无限供应而导致。但它使加密货币成为稀缺商品，从而抬高了加密货币的价格。</blockquote></p><p> When Bitcoin reaches the supply cap, it is likely that miners will shift from block rewards to transaction fees as their main source of revenue. Development of side channels, like the Lightning Network, may result in Bitcoin's blockchain restricting itself to confirmation of large batches of transactions or ones that involve movement of significant numbers of bitcoins from one address on its blockchain to another. Bitcoin's identity—as a store of value and a medium of exchange—will also be more clearly defined than it is currently.</p><p><blockquote>当比特币达到供应上限时，矿商很可能会从区块奖励转向交易费作为其主要收入来源。闪电网络等辅助渠道的发展可能会导致比特币的区块链将自己限制在确认大批量交易或涉及大量比特币从区块链的一个地址转移到另一个地址的交易。比特币的身份——作为价值储存和交换媒介——也将比目前更加明确。</blockquote></p><p> But none of these predictions are set in stone. The kinetic pace of developments in Bitcoin's ecosystem means that it is difficult to accurately predict its future. For example, the cryptocurrency's protocol may be changed to accommodate the production of more than 21 million bitcoins. Or, it may fall just shy of reaching 21 million.</p><p><blockquote>但这些预测都不是一成不变的。比特币生态系统发展的动态步伐意味着很难准确预测其未来。例如，加密货币的协议可能会发生变化，以适应超过2100万个比特币的生产。或者，它可能会接近2100万。</blockquote></p><p> <b>Frequently Asked Questions</b></p><p><blockquote><b>常见问题</b></blockquote></p><p> <ul>  <li>What is Bitcoin's total supply?</li> </ul> The total supply of bitcoins is capped at 21 million.</p><p><blockquote><ul><li>比特币的总供应量是多少？</li></ul>比特币的总供应量上限为2100万枚。</blockquote></p><p> <ul>  <li>What will happen to miner fees when Bitcoin's supply limit is reached?</li> </ul> When Bitcoin supply reaches 21 million, miners will rely on transaction fees rather than block rewards, which will have vanished by then, for revenue.</p><p><blockquote><ul><li>当比特币达到供应上限时，矿工费用会发生什么变化？</li></ul>当比特币供应量达到2100万时，矿商将依靠交易费而不是区块奖励来获得收入，区块奖励届时将消失。</blockquote></p><p> <ul>  <li>What will happen to Bitcoin's network when it reaches the supply limit?</li> </ul> When Bitcoin reaches the 21 million supply limit, it is likely that side channels, like the Lightning Network, will do most of the heavy lifting in confirming its transactions. The cryptocurrency's blockchain be responsible for confirming only very large batches of transactions or ones that involve movement of large sums of bitcoin from one address to another.</p><p><blockquote><ul><li>当比特币的网络达到供应极限时会发生什么？</li></ul>当比特币达到2100万的供应限额时，像闪电网络这样的侧渠道很可能会承担确认其交易的大部分繁重工作。加密货币的区块链只负责确认非常大批量的交易或涉及大量比特币从一个地址转移到另一个地址的交易。</blockquote></p><p> <ul>  <li>What happens if Bitcoin supply fails to reach the 21 million cap?</li> </ul> One consequence of Bitcoin not reaching its planned cap is that it leaves open the possibility that the cryptocurrency's network will remain functional for a long time after 2140. In keeping with Bitcoin's economics, rewards for confirming these blocks will be minimal.</p><p><blockquote><ul><li>如果比特币的供应量达不到2100万的上限会怎么样？</li></ul>比特币未能达到其计划上限的一个后果是，它留下了加密货币网络在2140年之后长期保持功能的可能性。根据比特币的经济学，确认这些区块的回报将微乎其微。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral\">Investopedia</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":{"GBTC":"比特币ETF-Grayscale"},"source_url":"https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195802602","content_text":"KEY TAKEAWAYS\n\nThere are only 21 million bitcoins that can be mined in total.\nBitcoin will never reach that cap due to the use of rounding operators in its codebase.\nAs of Aug, 2021, 18.77 million bitcoins have been mined, which leaves roughly 2.3 million yet to be introduced into circulation.\nWhen Bitcoin reaches its supply cap, block rewards will vanish, and miners will depend on fees from transactions occurring on the cryptocurrency's network for revenue.\nBitcoin's network may evolve from its current unfinished state to becoming a bridge for monetary transactions and trading.\nBitcoin the cryptocurrency will have a defined identity in the financial ecosystem.\n\nOne of the chief characteristics of Bitcoin is its limited supply. Other forms of money, including fiat currencies, can be printed at will by central banks—i.e., they have unlimited supply.\nBitcoin inventor Satoshi Nakamoto capped the number of bitcoin at 21 million, meaning there will only ever be 21 million bitcoins in existence. On average, these bitcoins are introduced to the Bitcoin supply at a fixed rate of one block every 10 minutes. In addition, the number of bitcoins released in each of these aforementioned blocks is reduced by 50% every four years. By August 2021, 18.7 million bitcoins were available, leaving roughly 2.3 million to be mined.The supply limitation makes Bitcoin scarce and controls inflation that might arise from an unlimited supply of the cryptocurrency.\nAs Bitcoin reaches its capped supply, its economics will alter. The incentives for various members in its ecosystem, such as miners and traders, will change. For example, miners may rely less on block rewards and more on transaction fees to earn revenue and profits for their operations. The cryptocurrency's network will also transform, and its participants will be different from the retail traders that populate its current ecosystem.\nHowever, given the cryptocurrency's relatively undeveloped ecosystem, it is difficult to predict with certainty the effect of Bitcoin reaching its capped supply.\nWill Bitcoin Ever Reach the 21 Million Cap?\nBefore delving into the implications of Bitcoin's 21 million cap, it might be interesting to consider the question of whether it will ever reach that figure. Based on the cryptocurrency's current codebase and mining process, some observers say that Bitcoin may fall just shy of the 21 million figure.\nTo recap, Bitcoin is \"mined\" by miners who solve cryptographic puzzles to verify and validate a block of transactions occurring in its network. Block rewards, consisting of a set number of bitcoins, are distributed to miners who successfully confirm a transaction block. The rewards are halved every four years.\nThe rate that bitcoin are produced cuts in half about every four years. Investopedia\nWhen the cryptocurrency was launched, the reward for confirming a block of transactions was 50 bitcoins. In 2012, it was halved to 25 bitcoins, and it went down to 12.5 in 2016. In May 2020, miners stood to earn 6.25 bitcoin for every new block. Block rewards for Bitcoin miners will continue to be halved every four years until the final bitcoin is mined. Current estimates for mining of the final bitcoin put that date somewhere in February 2140.\n\nImportant:The Bitcoin mining process provides bitcoin rewards to miners, but the reward size decreases periodically to control the circulation of new tokens.\n\nAccording to Andreas M. Antonopoulos, author of a book about Bitcoin's workings, the 21 million figure is an \"asymptotic cap\" on the number of bitcoin in existence.In simple words, this means that, while it may reach very close to figure, the cryptocurrency will never reach that limit. This is because block rewards and Bitcoin supply are never expressed in exact terms. Bitcoin's code uses bit-shift operators—arithmetic operators used that round decimal points to the closest smallest integer in certain programming languages. Therefore, a total supply of 6.2589 bitcoins will be rounded out to the closest smallest integer, in this case 6.\nWhile it makes calculations easier, the practice leads to losses in satoshis, Bitcoin's constituent units, during each block confirmation. One bitcoin is equal to 100 million satoshis. According to some, the final bitcoin block will be numbered 6,929,999, and the total supply at that time will be 20,999,999.9769 satoshis. Since bitcoin uses a bit-shift operator system,3its algorithm will round off that figure to 20,999,999 and leave the cryptocurrency just shy of its 21 million targeted cap.\nWhat Happens When All 21 Million Bitcoin Are Mined?\nA consequence of Bitcoin not reaching its planned cap is that it leaves open the possibility that the cryptocurrency's network will remain functional for a long time after 2140. No bitcoins will be issued, but transaction blocks will be confirmed, and fees will become the primary source of revenue. Ultimately, Bitcoin's network may function as a closed economy, in which transaction fees are assessed much like taxes are.\nCan the rewards be in satoshis instead of actual bitcoin? Such a practice is unlikely and would require a change in the cryptocurrency's protocol to take effect.\nThat said, it is difficult to predict the effects of Bitcoin almost reaching the overall supply promised by Satoshi Nakamoto. This is partly because Bitcoin's ecosystem is still undeveloped. The cryptocurrency was originally conceptualized as a medium of exchange but it has found more popularity as a store of value—an investing asset—instead. It is possible that Bitcoin's ecosystem and workings might undergo a transformation, similar to the one that has occured in its identity, between now and 2140.\nImportant:Although there can only ever be a maximum of 21 million bitcoins, because people have lost their private keys or have died without leaving their private key instructions to anybody, the actual amount of available bitcoins in circulation could actually be millions less.\nFor example, there could be a protocol change in the cryptocurrency's blockchain to allow for more than 21 million bitcoin in existence. Remember, Bitcoin is an open source cryptocurrency and can be changed to create hard or soft forks that create new cryptocurrencies or alter its functioning. Some examples of the former are bitcoin cash(BCHUSD),litecoin(LTCUSD), anddogecoin(DOGEUSD), which have made minor modifications to Bitcoin's source code and created new coins that have racked up billions of dollars in market valuations.\nEffect on Bitcoin Miners\nBlock rewards and transaction fees are the most important sources of revenue for miners—the former more so than the latter in the current setup. High prices for bitcoin enable miners to cover operational costs and sustain business profits because they can sell their rewards stash in cryptocurrency markets.\nWhen Bitcoin is close to reaching its limit, the reward amounts may not be enough to cover operational costs at miners, let alone generate profits. If and when the supply limit is reached, Bitcoin rewards are supposed to vanish.\nIn both instances, transaction fees are expected to pick up the slack. The amount of and mechanism for these fees depends on the state of Bitcoin's network at that point in time—i.e., whether it is being used as a medium of exchange or as a store of value. The former may incur reasonable fees to enable Bitcoin's use in daily transactions, while the latter scenario will have miners conducting fewer and more expensive transactions.\nAnother possibility being put forward is that of miners forming cartels amongst themselves. They might control supply to set high transaction fees or a fee amount that guarantees them a minimum in profits.Selfish mining is another possibility. In this form of mining, miners collude amongst themselves to hide new blocks and release orphan blocks that are not confirmed by Bitcoin's network. This practice will delay production of the final block in Bitcoin's network and ensure high rewards for the new blocks when they are finally released into the network.\nThe formation of a Bitcoin miners' cartel is not a far-reaching conclusion. Such groupings already exist in other commodities whose supply is constrained or controlled. For example, oil prices are influenced to a large degree by OPEC's production output. Prices in the diamond industry are also reportedly set by a cartel led by mining giant DeBeers.\nEffect on Bitcoin's Network\nThe most valuable and useful aspect of Bitcoin is its network.Distributed ledger technology is a technological solution to the time-consuming bookkeeping and accounting that characterizes most financial transactions today.\nIf Bitcoin becomes popular as a medium of exchange in the future, its transaction numbers will surge. Past precedent has shown that there is a significant chance that the network will slow down. This is because Bitcoin's architecture, which relies on a distributed database to hold copies of massive ledgers, sacrifices speed for accuracy and integrity.\nIn such a scenario, it is likely that Layer 2 technologies, like the Lightning Network, will become responsible for confirming a majority of transactions on its network. Therefore, the cryptocurrency's actual network itself will be used only to settle large batches of transactions.\nA second possibility is that the number of transactions on Bitcoin's network falls. Such a situation is possible when Bitcoin becomes a reserve asset. Trades involving the cryptocurrency will be few. Retail traders and small trading firms, who dominate its current trading ecosystem, will be eliminated and replaced by large institutional players and established trading firms. They will conduct fewer and more expensive trades that will incur high transaction fees from miners.\nEffect on Bitcoin the Cryptocurrency\nBitcoin's inventor Satoshi Nakamoto designed the cryptocurrency to function as a medium of exchange for daily transactions. But its network has high transaction fees and slow processing times. Meanwhile, its scarcity and rising prices have become a magnet for speculative investors. Their bets on the cryptocurrency roulette have led to volatile price swings in the asset class deterring serious investors away from it. Regulators have criticized its ecosystem as a Wild West.\nBy the time that the last bitcoin is mined (or close to being mined), Bitcoin may have a more defined identity that it does currently. Side channels, like the Lightning Network, may have increased its network's transaction processing speed and enabled its use as a medium of exchange. Some countries like El Salvador are betting on such an eventuality and have made the cryptocurrency legal tender.\n\nFAST FACT\n\n\n El Salvador made Bitcoin legal tender on June 9, 2021.It is the first country to do so. The cryptocurrency can be used for any transaction where the business can accept it. The U.S. dollar continues to be El Salvador's primary currency.\n\nIn the United States, the latest significant events are the Office of the Comptroller of the Currency (OCC) letter in January 2021 authorizing the use of crypto as a method of payment, PayPal Holdings, Inc.'s (PYPL) introduction of Bitcoin, and Tesla, Inc.'s (TSLA) acceptance of Bitcoin to purchase Tesla cars and solar roofs. Tesla reversed course on accepting Bitcoin in May 2021, citing environmental concerns around the resources required for Bitcoin mining.\nThe increasing scarcity in its numbers will also have driven up bitcoin's price and the corresponding valuation of cryptocurrency markets. Regulators tend to move quickly when increasing amounts of capital flows into an asset class, and it is likely that crypto markets and Bitcoin will also have come under the regulatory umbrella. That will be a sign for institutional investors to move into the cryptocurrency's ecosystem and stabilize its price swings with massive liquidity.\nThe Bottom Line\nBitcoin's 21 million supply cap is meant to control inflation that might, otherwise, result from an unlimited supply. But it has inflated the cryptocurrency's prices by making it a scarce commodity.\nWhen Bitcoin reaches the supply cap, it is likely that miners will shift from block rewards to transaction fees as their main source of revenue. Development of side channels, like the Lightning Network, may result in Bitcoin's blockchain restricting itself to confirmation of large batches of transactions or ones that involve movement of significant numbers of bitcoins from one address on its blockchain to another. Bitcoin's identity—as a store of value and a medium of exchange—will also be more clearly defined than it is currently.\nBut none of these predictions are set in stone. The kinetic pace of developments in Bitcoin's ecosystem means that it is difficult to accurately predict its future. For example, the cryptocurrency's protocol may be changed to accommodate the production of more than 21 million bitcoins. Or, it may fall just shy of reaching 21 million.\nFrequently Asked Questions\n\nWhat is Bitcoin's total supply?\n\nThe total supply of bitcoins is capped at 21 million.\n\nWhat will happen to miner fees when Bitcoin's supply limit is reached?\n\nWhen Bitcoin supply reaches 21 million, miners will rely on transaction fees rather than block rewards, which will have vanished by then, for revenue.\n\nWhat will happen to Bitcoin's network when it reaches the supply limit?\n\nWhen Bitcoin reaches the 21 million supply limit, it is likely that side channels, like the Lightning Network, will do most of the heavy lifting in confirming its transactions. The cryptocurrency's blockchain be responsible for confirming only very large batches of transactions or ones that involve movement of large sums of bitcoin from one address to another.\n\nWhat happens if Bitcoin supply fails to reach the 21 million cap?\n\nOne consequence of Bitcoin not reaching its planned cap is that it leaves open the possibility that the cryptocurrency's network will remain functional for a long time after 2140. In keeping with Bitcoin's economics, rewards for confirming these blocks will be minimal.","news_type":1,"symbols_score_info":{"XBTmain":0.9,"BTCmain":0.9,"GBTC":0.9,"MBTmain":0.9}},"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":143670520,"gmtCreate":1625793875160,"gmtModify":1633937277705,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Good sharing!","listText":"Good sharing!","text":"Good 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these stocks are retiring soon too","listText":"As these stocks are retiring soon too","text":"As these stocks are retiring soon too","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/817730513","repostId":"2165877663","repostType":4,"isVote":1,"tweetType":1,"viewCount":242,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838789582,"gmtCreate":1629429427646,"gmtModify":1631883691227,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH S$(HST.SI)$</a>Steadily hold","listText":"<a href=\"https://laohu8.com/S/HST.SI\">$Lion-OCBC Sec HSTECH 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07:11","market":"us","language":"en","title":"S&P 500 notches fifth straight record closing high, fifth straight quarterly gain<blockquote>标普500连续第五次创下收盘新高，连续第五个季度上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1178516480","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as inves","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.</p><p><blockquote>纽约（路透社）-标普500周三连续第五次创下收盘新高，投资者在本月和本季度结束时基本上摆脱了积极的经济数据，并期待周五备受期待的就业报告。</blockquote></p><p> In the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.</p><p><blockquote>在2021年上半年的最后一个交易日，股指低迷且区间震荡，蓝筹股道指上涨，而纳斯达克则小幅走低。</blockquote></p><p> All three indexes posted their fifth consecutive quarterly gains, with the S&amp;P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&amp;P 500 registered its second-best first-half performance since 1998, rising 14.5%.</p><p><blockquote>三大指数均连续第五个季度上涨，标准普尔指数上涨8.2%，纳斯达克指数上涨9.5%，道指上涨4.6%。标普500上半年表现为1998年以来第二好，上涨14.5%。</blockquote></p><p> “It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&amp;P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”</p><p><blockquote>“这是一个不错的季度，”康涅狄格州费尔菲尔德Dakota Wealth的高级投资组合经理罗伯特·帕夫利克(Robert Pavlik)表示。“截至昨晚收盘，标普今年迄今已上涨超过14%，超过道指和纳斯达克。这表明股市正在出现广泛反弹。”</blockquote></p><p> For the month, the bellwether S&amp;P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.</p><p><blockquote>本月，领头羊标普500连续第五次上涨，而道琼斯指数结束了四个月的连涨，小幅收低。纳斯达克在6月份也取得了进展。</blockquote></p><p> This month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.</p><p><blockquote>本月，投资者的兴趣从对经济敏感的周期性股票转向成长型股票。</blockquote></p><p> “Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”</p><p><blockquote>“今年迄今为止的领先行业正如你所预期的那样，”帕夫利克补充道。“能源、金融和工业，这表明经济环境正处于周期的早期阶段。”</blockquote></p><p> “(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.</p><p><blockquote>帕夫利克补充道：“在人们开始接受（美联储主席杰罗姆）鲍威尔关注暂时性通胀的言论后，（投资者）开始转向增长（股票）。”</blockquote></p><p> “Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”</p><p><blockquote>“一些重新开放的交易已经持续了一段时间，这正在引导人们恢复增长。”</blockquote></p><p> (Graphic: Growths stocks outperform value in June, narrow YTD gap, )</p><p><blockquote>（图：6月份成长股跑赢价值股，年初至今差距缩小，）</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5b82b4dfdc765d913811f9d8572e60f6\" tg-width=\"964\" tg-height=\"723\" referrerpolicy=\"no-referrer\">“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”</p><p><blockquote>纽约Inverness Counsel首席投资策略师蒂姆·格里斯基(Tim Ghriskey)表示：“整体股市继续上涨，在相当长一段时间内持续上涨。”“虽然按照历史标准来看估值肯定很高，但受益于经济复苏，估值一直处于相当稳定的水平。”</blockquote></p><p> The private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.</p><p><blockquote>根据薪资处理机构ADP的数据，私营部门6月份增加了692,000个就业岗位，轻松超出预期。这一数字比经济学家在劳工部周五发布的更全面的就业报告中预测的私人就业人数高出92,000人。</blockquote></p><p> The Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&amp;P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.</p><p><blockquote>道琼斯工业平均指数上涨210.22点，涨幅0.61%，至34,502.51点；标普500上涨5.7点，涨幅0.13%，至4,297.5点；纳斯达克综合指数下跌24.38点，涨幅0.17%，至14,503.95点。</blockquote></p><p> Among the 11 major sectors in the S&amp;P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.</p><p><blockquote>在标准普尔11个主要板块中，有6个板块收高，其中能源板块涨幅最大。房地产是当天最大的输家。</blockquote></p><p> Boeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.</p><p><blockquote>德国国防部宣布将购买该飞机制造商的五架P-8A海上控制飞机，波音公司股价上涨1.6%，此前联合航空公布了有史以来最大的新飞机订单。</blockquote></p><p> Walmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.</p><p><blockquote>沃尔玛周二宣布将开始销售仅限处方的胰岛素类似物，股价上涨2.7%。</blockquote></p><p> Micron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.</p><p><blockquote>美光科技在季度财报发布前上涨2.5%，但在芯片制造商公布季度业绩后，盘后交易中相对没有变化。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.35比1；在纳斯达克，1.19比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.</p><p><blockquote>标普500创下20个52周新高，无新低；纳斯达克综合指数录得70个新高和36个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为108.5亿股，而过去20个交易日的平均成交量为110.5亿股。</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>S&P 500 notches fifth straight record closing high, fifth straight quarterly gain<blockquote>标普500连续第五次创下收盘新高，连续第五个季度上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 notches fifth straight record closing high, fifth straight quarterly gain<blockquote>标普500连续第五次创下收盘新高，连续第五个季度上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-01 07:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - The S&amp;P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.</p><p><blockquote>纽约（路透社）-标普500周三连续第五次创下收盘新高，投资者在本月和本季度结束时基本上摆脱了积极的经济数据，并期待周五备受期待的就业报告。</blockquote></p><p> In the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.</p><p><blockquote>在2021年上半年的最后一个交易日，股指低迷且区间震荡，蓝筹股道指上涨，而纳斯达克则小幅走低。</blockquote></p><p> All three indexes posted their fifth consecutive quarterly gains, with the S&amp;P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&amp;P 500 registered its second-best first-half performance since 1998, rising 14.5%.</p><p><blockquote>三大指数均连续第五个季度上涨，标准普尔指数上涨8.2%，纳斯达克指数上涨9.5%，道指上涨4.6%。标普500上半年表现为1998年以来第二好，上涨14.5%。</blockquote></p><p> “It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&amp;P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”</p><p><blockquote>“这是一个不错的季度，”康涅狄格州费尔菲尔德Dakota Wealth的高级投资组合经理罗伯特·帕夫利克(Robert Pavlik)表示。“截至昨晚收盘，标普今年迄今已上涨超过14%，超过道指和纳斯达克。这表明股市正在出现广泛反弹。”</blockquote></p><p> For the month, the bellwether S&amp;P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.</p><p><blockquote>本月，领头羊标普500连续第五次上涨，而道琼斯指数结束了四个月的连涨，小幅收低。纳斯达克在6月份也取得了进展。</blockquote></p><p> This month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.</p><p><blockquote>本月，投资者的兴趣从对经济敏感的周期性股票转向成长型股票。</blockquote></p><p> “Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”</p><p><blockquote>“今年迄今为止的领先行业正如你所预期的那样，”帕夫利克补充道。“能源、金融和工业，这表明经济环境正处于周期的早期阶段。”</blockquote></p><p> “(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.</p><p><blockquote>帕夫利克补充道：“在人们开始接受（美联储主席杰罗姆）鲍威尔关注暂时性通胀的言论后，（投资者）开始转向增长（股票）。”</blockquote></p><p> “Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”</p><p><blockquote>“一些重新开放的交易已经持续了一段时间，这正在引导人们恢复增长。”</blockquote></p><p> (Graphic: Growths stocks outperform value in June, narrow YTD gap, )</p><p><blockquote>（图：6月份成长股跑赢价值股，年初至今差距缩小，）</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5b82b4dfdc765d913811f9d8572e60f6\" tg-width=\"964\" tg-height=\"723\" referrerpolicy=\"no-referrer\">“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”</p><p><blockquote>纽约Inverness Counsel首席投资策略师蒂姆·格里斯基(Tim Ghriskey)表示：“整体股市继续上涨，在相当长一段时间内持续上涨。”“虽然按照历史标准来看估值肯定很高，但受益于经济复苏，估值一直处于相当稳定的水平。”</blockquote></p><p> The private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.</p><p><blockquote>根据薪资处理机构ADP的数据，私营部门6月份增加了692,000个就业岗位，轻松超出预期。这一数字比经济学家在劳工部周五发布的更全面的就业报告中预测的私人就业人数高出92,000人。</blockquote></p><p> The Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&amp;P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.</p><p><blockquote>道琼斯工业平均指数上涨210.22点，涨幅0.61%，至34,502.51点；标普500上涨5.7点，涨幅0.13%，至4,297.5点；纳斯达克综合指数下跌24.38点，涨幅0.17%，至14,503.95点。</blockquote></p><p> Among the 11 major sectors in the S&amp;P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.</p><p><blockquote>在标准普尔11个主要板块中，有6个板块收高，其中能源板块涨幅最大。房地产是当天最大的输家。</blockquote></p><p> Boeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.</p><p><blockquote>德国国防部宣布将购买该飞机制造商的五架P-8A海上控制飞机，波音公司股价上涨1.6%，此前联合航空公布了有史以来最大的新飞机订单。</blockquote></p><p> Walmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.</p><p><blockquote>沃尔玛周二宣布将开始销售仅限处方的胰岛素类似物，股价上涨2.7%。</blockquote></p><p> Micron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.</p><p><blockquote>美光科技在季度财报发布前上涨2.5%，但在芯片制造商公布季度业绩后，盘后交易中相对没有变化。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.35比1；在纳斯达克，1.19比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.</p><p><blockquote>标普500创下20个52周新高，无新低；纳斯达克综合指数录得70个新高和36个新低。</blockquote></p><p> Volume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为108.5亿股，而过去20个交易日的平均成交量为110.5亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178516480","content_text":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.\nIn the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.\nAll three indexes posted their fifth consecutive quarterly gains, with the S&P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&P 500 registered its second-best first-half performance since 1998, rising 14.5%.\n“It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”\nFor the month, the bellwether S&P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.\nThis month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.\n“Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”\n“(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.\n“Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”\n(Graphic: Growths stocks outperform value in June, narrow YTD gap, )\n“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”\nThe private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.\nThe Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.\nAmong the 11 major sectors in the S&P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.\nBoeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.\nWalmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.\nMicron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.\nThe S&P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.\nVolume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":515,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150740808,"gmtCreate":1624928988604,"gmtModify":1633946902238,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Keep it on!!","listText":"Keep it on!!","text":"Keep it on!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/150740808","repostId":"2147837316","repostType":4,"isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":189978869,"gmtCreate":1623242980551,"gmtModify":1634035464121,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/189978869","repostId":"1109652850","repostType":4,"isVote":1,"tweetType":1,"viewCount":597,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179378866,"gmtCreate":1626489485455,"gmtModify":1633926298039,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"[正经]&nbsp;","listText":"[正经]&nbsp;","text":"[正经]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/179378866","repostId":"2152168594","repostType":4,"isVote":1,"tweetType":1,"viewCount":534,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":155421817,"gmtCreate":1625449889839,"gmtModify":1633940595021,"author":{"id":"3570779466873256","authorId":"3570779466873256","name":"YKYK14","avatar":"https://static.tigerbbs.com/08fe7b71ba5bb95c642646963d028000","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3570779466873256","idStr":"3570779466873256"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/155421817","repostId":"2148388731","repostType":4,"isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}