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0勋章

2021-05-24

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2021-05-19

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JD.com to Report Q1 Earnings: What's in the Cards?<blockquote>京东将报告第一季度收益：前景如何？</blockquote>

2021-05-20

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3 Things to Watch for in the Fed Minutes Today<blockquote>今日美联储会议纪要中值得关注的3件事</blockquote>

2021-06-01

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2021-06-30

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2021-05-24

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2021-05-21

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2021-06-25

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2021-09-30

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2021-06-05

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Can Alibaba Stock Hit $500? If You Got Time, Yes<blockquote>阿里巴巴-SW股价能否触及500美元？如果你有时间，是的</blockquote>

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style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-06 23:26</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines&nbsp;and&nbsp;travel booking stocks&nbsp;jumped&nbsp;in morning trading.</p><p><blockquote>与经济重新开放相关的股票周一上涨。航空公司、邮轮公司和旅游预订股票在早盘交易中上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/651aa4b1311ccf3c19aeb54b31cfa75d\" tg-width=\"410\" tg-height=\"485\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f544513dbaea07f8bfb6ef95f4787209\" tg-width=\"416\" tg-height=\"188\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f38b5565430c470461254d0b06da3752\" tg-width=\"405\" tg-height=\"178\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LUV":"西南航空","CCL":"嘉年华邮轮","BA":"波音","AAL":"美国航空","SAVE":"Spirit Airlines","UAL":"联合大陆航空","DAL":"达美航空","NCLH":"挪威邮轮","ALK":"阿拉斯加航空集团有限公司","ABNB":"爱彼迎","BKNG":"Booking Holdings","EXPE":"Expedia","JBLU":"捷蓝航空","RCL":"皇家加勒比邮轮"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189410190","content_text":"Stocks linked to the reopening of the economy gained on Monday.Airlines,Cruise lines and travel booking stocks jumped in morning 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pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/865744080","repostId":"1104573734","repostType":2,"repost":{"id":"1104573734","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":1633012323,"share":"https://www.laohu8.com/m/news/1104573734?lang=zh_CN&edition=full","pubTime":"2021-09-30 22:32","market":"us","language":"en","title":"Airline and Cruise Line stocks dipped in morning trading<blockquote>航空公司和邮轮公司股票早盘下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104573734","media":"Tiger Newspress","summary":"Airline and Cruise Line stocks dipped in morning trading.Boeing,Southwest Airlines,Delta Air,United ","content":"<p>Airline and Cruise Line stocks dipped in morning trading.Boeing,Southwest Airlines,Delta Air,United Airlines&nbsp;and&nbsp;American airlines&nbsp;fell about&nbsp;2%.</p><p><blockquote>航空公司和邮轮公司股票早盘下跌。波音、西南航空、达美航空、联合航空和美国航空下跌约2%。</blockquote></p><p> Shares of cruise operators Norwegian Cruise Line,Carnival Corp and Royal Caribbean Cruises Ltd&nbsp;fell about&nbsp;3%.</p><p><blockquote>邮轮运营商挪威邮轮公司、嘉年华公司和皇家加勒比邮轮有限公司的股价下跌约3%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f4692c3e9fbfa6d94939481f7c459056\" tg-width=\"404\" tg-height=\"477\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/03a9b400a495053c36d7710fd38bad85\" tg-width=\"403\" tg-height=\"184\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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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\">2021-09-30 22:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Airline and Cruise Line stocks dipped in morning trading.Boeing,Southwest Airlines,Delta Air,United Airlines&nbsp;and&nbsp;American airlines&nbsp;fell about&nbsp;2%.</p><p><blockquote>航空公司和邮轮公司股票早盘下跌。波音、西南航空、达美航空、联合航空和美国航空下跌约2%。</blockquote></p><p> Shares of cruise operators Norwegian Cruise Line,Carnival Corp and Royal Caribbean Cruises Ltd&nbsp;fell about&nbsp;3%.</p><p><blockquote>邮轮运营商挪威邮轮公司、嘉年华公司和皇家加勒比邮轮有限公司的股价下跌约3%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f4692c3e9fbfa6d94939481f7c459056\" tg-width=\"404\" tg-height=\"477\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/03a9b400a495053c36d7710fd38bad85\" tg-width=\"403\" tg-height=\"184\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BA":"波音","CCL":"嘉年华邮轮","LUV":"西南航空","UAL":"联合大陆航空","ALK":"阿拉斯加航空集团有限公司","DAL":"达美航空","AAL":"美国航空","NCLH":"挪威邮轮","RCL":"皇家加勒比邮轮"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104573734","content_text":"Airline and Cruise Line stocks dipped in morning trading.Boeing,Southwest Airlines,Delta Air,United Airlines and American airlines fell about 2%.\nShares of cruise operators Norwegian Cruise Line,Carnival Corp and Royal Caribbean Cruises Ltd fell about 3%.","news_type":1,"symbols_score_info":{"AAL":0.9,"RCL":0.9,"NCLH":0.9,"UAL":0.9,"ALK":0.9,"CCL":0.9,"LUV":0.9,"DAL":0.9,"BA":0.9}},"isVote":1,"tweetType":1,"viewCount":2478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865485997,"gmtCreate":1633011063042,"gmtModify":1633011203279,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like pls.","listText":"Like pls.","text":"Like pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/865485997","repostId":"2171930838","repostType":4,"isVote":1,"tweetType":1,"viewCount":3066,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":860635477,"gmtCreate":1632174068099,"gmtModify":1632802409817,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like please.","listText":"Like please.","text":"Like please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/860635477","repostId":"1124728794","repostType":4,"repost":{"id":"1124728794","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":1632154404,"share":"https://www.laohu8.com/m/news/1124728794?lang=zh_CN&edition=full","pubTime":"2021-09-21 00:13","market":"us","language":"en","title":"Market sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%<blockquote>市场抛售加剧道指跌650点标普500跌2%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1124728794","media":"Tiger Newspress","summary":"(Sept 21)&nbsp;Market sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%.","content":"<p>(Sept 21)&nbsp;Market sell-off worsens with Dow dropping 650 points, S&amp;P 500 losing 2%.</p><p><blockquote>（9月21日）市场抛售加剧，道琼斯指数下跌650点，标普500下跌2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b1aff42b5f28f13e23dc15c6bee909d3\" tg-width=\"350\" tg-height=\"130\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%<blockquote>市场抛售加剧道指跌650点标普500跌2%</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\">\nMarket sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%<blockquote>市场抛售加剧道指跌650点标普500跌2%</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\">2021-09-21 00:13</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Sept 21)&nbsp;Market sell-off worsens with Dow dropping 650 points, S&amp;P 500 losing 2%.</p><p><blockquote>（9月21日）市场抛售加剧，道琼斯指数下跌650点，标普500下跌2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b1aff42b5f28f13e23dc15c6bee909d3\" tg-width=\"350\" tg-height=\"130\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124728794","content_text":"(Sept 21) Market sell-off worsens with Dow dropping 650 points, S&P 500 losing 2%.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2066,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886559284,"gmtCreate":1631607946448,"gmtModify":1631886372264,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and 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comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/838675532","repostId":"2160798679","repostType":2,"isVote":1,"tweetType":1,"viewCount":2144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838918677,"gmtCreate":1629364511699,"gmtModify":1631886372314,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like please.","listText":"Like please.","text":"Like please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/838918677","repostId":"1139347294","repostType":4,"isVote":1,"tweetType":1,"viewCount":2138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833602292,"gmtCreate":1629232910916,"gmtModify":1631886372328,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/833602292","repostId":"1174691535","repostType":4,"isVote":1,"tweetType":1,"viewCount":2394,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830938417,"gmtCreate":1628998956939,"gmtModify":1631886372347,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/830938417","repostId":"1144073354","repostType":4,"repost":{"id":"1144073354","kind":"news","pubTimestamp":1628904044,"share":"https://www.laohu8.com/m/news/1144073354?lang=zh_CN&edition=full","pubTime":"2021-08-14 09:20","market":"us","language":"en","title":"Dow, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么刺激。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144073354","media":"Barrons","summary":"Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should ","content":"<p>Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should hope it stays that way.</p><p><blockquote>冒险。兴奋。最近股市似乎并不渴望这些东西。投资者应该希望这种情况保持下去。</blockquote></p><p> It wasn’t quite like watching paint dry this past week, but it wasn’t that far off, either. Earnings reports were few and far between, the most prominent coming from Walt Disney (ticker: DIS) and eBay (EBAY). The economic news, including July’s consumer-price data, didn’t contain any shockers. And while the S&amp;P 500 closed the week on a streak of four new highs, one of them was by less than a quarter of&nbsp;a point. The index rose 0.7%, to 4468.00, while the&nbsp;Dow Jones Industrial Average&nbsp;gained 306.87 points, or 0.9%, to 35,515.38. The&nbsp;Nasdaq Composite&nbsp;dipped 0.1%. to 14,822.90.</p><p><blockquote>这不太像在过去的一周里看着油漆变干，但也不远了。收益报告很少，其中最突出的来自华特迪士尼（股票代码：DIS）和eBay(EBAY)。包括7月份消费者价格数据在内的经济新闻没有任何令人震惊的内容。尽管标普500本周连续四次创下新高，但其中一次涨幅不到四分之一个百分点。该指数上涨0.7%，至4468.00点，道琼斯工业平均指数上涨306.87点，即0.9%，至35,515.38点。纳斯达克综合指数下跌0.1%。至14,822.90。</blockquote></p><p> Exuberance this ain’t.</p><p><blockquote>繁荣这不是。</blockquote></p><p> <b>Why Stock Prices Are Poised to Keep Rising</b></p><p><blockquote><b>为什么股价将持续上涨</b></blockquote></p><p> Still, there was some action underneath the surface. Tech,particularly chip stockslikeMicron Technology(MU),Lam Research(LRCX), andApplied Materials(AMAT), took it on the chin, while banks, includingGoldman Sachs Group(GS), and industrials such asCaterpillar(CAT), soared. And theInvesco S&amp;P 500 Equal Weightexchange-traded fund (RSP) gained 0.8% on the week, outpacing the market-cap-weighted version.</p><p><blockquote>尽管如此，表面之下还是有一些行动。科技股，尤其是美光科技(MU)、泛林研究(LRCX)和应用材料(AMAT)等芯片股表现强劲，而高盛集团(GS)等银行股和卡特彼勒(CAT)等工业股则飙升。景顺标普500等权重交易所交易基金(RSP)本周上涨0.8%，超过市值加权版本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d14ffc0d585bc642e9dfa4eebe4b998b\" tg-width=\"964\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> That suggests that&nbsp;the stock market is rotating&nbsp;once again, out of tech and other growth stocks, which had been outperforming since May, and back into stocks that benefit from the strength of the U.S. economy, says Katie Stockton, founder of Fairlead Strategies. “A lot of rotation in constituents can fuel a bull market,” she says, noting that if more stocks start winning, it’s only a matter of time before the small-cap&nbsp;Russell 2000 index&nbsp;does, too.</p><p><blockquote>Fairlead Strategies创始人凯蒂·斯托克顿(Katie Stockton)表示，这表明股市再次轮动，从5月份以来表现出色的科技股和其他成长型股转向受益于美国经济强劲的股票。她表示：“成分股的大量轮换可以推动牛市。”她指出，如果更多股票开始上涨，那么小盘股罗素2000指数也会上涨只是时间问题。</blockquote></p><p> That cyclicals have started breaking out again is impressive, particularly given the nonstop focus on the Covid-19 Delta variant. Whether it’s about states like&nbsp;Mississippi&nbsp;and&nbsp;Florida, or the Food and Drug Administration’s&nbsp;approval of a vaccine booster&nbsp;shot for people with compromised immune systems, renewed pandemic fears should have hit those stocks hard. That they didn’t says a lot about what investors are thinking.</p><p><blockquote>周期性再次开始爆发令人印象深刻，特别是考虑到人们对Covid-19德尔塔变异毒株的持续关注。无论是密西西比州和佛罗里达州等州，还是美国食品和药物管理局批准为免疫系统受损的人注射疫苗加强针，新的大流行担忧应该会对这些股票造成沉重打击。他们并没有充分说明投资者的想法。</blockquote></p><p> “If you just look at the market action this week, it’s saying the Delta variant is a public-health crisis, but not an economic crisis,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.</p><p><blockquote>CIBC Private Wealth US首席投资官Dave Donabedian表示：“如果你只看本周的市场走势，就会发现德尔塔变异毒株是一场公共卫生危机，而不是经济危机。”</blockquote></p><p> At some point, the boredom will end, and the market will get more volatile. And the biggest risk might be that investors use the volatility to push the entire stock market higher, notes BTIG’s Julian Emanuel, treating it like one big meme stock.</p><p><blockquote>在某个时候，无聊会结束，市场会变得更加波动。BTIG的朱利安·伊曼纽尔(Julian Emanuel)指出，最大的风险可能是投资者利用波动性推高整个股市，将其视为一只大型模因股票。</blockquote></p><p> “[The] dramatic price action in ‘meme stocks’ both old and new raises the probability that higher volatility could result in an ‘altered reality’ exception,” he writes. “And there is only one previous exception where volatility went up and stocks continued to go up, and up, and up. At least for a while.”</p><p><blockquote>他写道：“新旧‘模因股票’的剧烈价格走势增加了波动性上升可能导致‘现实改变’例外的可能性。”“之前只有一个例外，波动性上升，股市继续上涨，上涨，上涨。至少在一段时间内是这样。”</blockquote></p><p> That, of course, was in 1999. Let’s hope we avoid the kind of excitement that followed.</p><p><blockquote>当然，那是在1999年。希望我们能避免随之而来的那种兴奋。</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>Dow, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么刺激。</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, S&P End Week at Record Highs. It’s Not That Exciting.<blockquote>道琼斯指数和标准普尔指数周末创下历史新高。没那么刺激。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-08-14 09:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should hope it stays that way.</p><p><blockquote>冒险。兴奋。最近股市似乎并不渴望这些东西。投资者应该希望这种情况保持下去。</blockquote></p><p> It wasn’t quite like watching paint dry this past week, but it wasn’t that far off, either. Earnings reports were few and far between, the most prominent coming from Walt Disney (ticker: DIS) and eBay (EBAY). The economic news, including July’s consumer-price data, didn’t contain any shockers. And while the S&amp;P 500 closed the week on a streak of four new highs, one of them was by less than a quarter of&nbsp;a point. The index rose 0.7%, to 4468.00, while the&nbsp;Dow Jones Industrial Average&nbsp;gained 306.87 points, or 0.9%, to 35,515.38. The&nbsp;Nasdaq Composite&nbsp;dipped 0.1%. to 14,822.90.</p><p><blockquote>这不太像在过去的一周里看着油漆变干，但也不远了。收益报告很少，其中最突出的来自华特迪士尼（股票代码：DIS）和eBay(EBAY)。包括7月份消费者价格数据在内的经济新闻没有任何令人震惊的内容。尽管标普500本周连续四次创下新高，但其中一次涨幅不到四分之一个百分点。该指数上涨0.7%，至4468.00点，道琼斯工业平均指数上涨306.87点，即0.9%，至35,515.38点。纳斯达克综合指数下跌0.1%。至14,822.90。</blockquote></p><p> Exuberance this ain’t.</p><p><blockquote>繁荣这不是。</blockquote></p><p> <b>Why Stock Prices Are Poised to Keep Rising</b></p><p><blockquote><b>为什么股价将持续上涨</b></blockquote></p><p> Still, there was some action underneath the surface. Tech,particularly chip stockslikeMicron Technology(MU),Lam Research(LRCX), andApplied Materials(AMAT), took it on the chin, while banks, includingGoldman Sachs Group(GS), and industrials such asCaterpillar(CAT), soared. And theInvesco S&amp;P 500 Equal Weightexchange-traded fund (RSP) gained 0.8% on the week, outpacing the market-cap-weighted version.</p><p><blockquote>尽管如此，表面之下还是有一些行动。科技股，尤其是美光科技(MU)、泛林研究(LRCX)和应用材料(AMAT)等芯片股表现强劲，而高盛集团(GS)等银行股和卡特彼勒(CAT)等工业股则飙升。景顺标普500等权重交易所交易基金(RSP)本周上涨0.8%，超过市值加权版本。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d14ffc0d585bc642e9dfa4eebe4b998b\" tg-width=\"964\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> That suggests that&nbsp;the stock market is rotating&nbsp;once again, out of tech and other growth stocks, which had been outperforming since May, and back into stocks that benefit from the strength of the U.S. economy, says Katie Stockton, founder of Fairlead Strategies. “A lot of rotation in constituents can fuel a bull market,” she says, noting that if more stocks start winning, it’s only a matter of time before the small-cap&nbsp;Russell 2000 index&nbsp;does, too.</p><p><blockquote>Fairlead Strategies创始人凯蒂·斯托克顿(Katie Stockton)表示，这表明股市再次轮动，从5月份以来表现出色的科技股和其他成长型股转向受益于美国经济强劲的股票。她表示：“成分股的大量轮换可以推动牛市。”她指出，如果更多股票开始上涨，那么小盘股罗素2000指数也会上涨只是时间问题。</blockquote></p><p> That cyclicals have started breaking out again is impressive, particularly given the nonstop focus on the Covid-19 Delta variant. Whether it’s about states like&nbsp;Mississippi&nbsp;and&nbsp;Florida, or the Food and Drug Administration’s&nbsp;approval of a vaccine booster&nbsp;shot for people with compromised immune systems, renewed pandemic fears should have hit those stocks hard. That they didn’t says a lot about what investors are thinking.</p><p><blockquote>周期性再次开始爆发令人印象深刻，特别是考虑到人们对Covid-19德尔塔变异毒株的持续关注。无论是密西西比州和佛罗里达州等州，还是美国食品和药物管理局批准为免疫系统受损的人注射疫苗加强针，新的大流行担忧应该会对这些股票造成沉重打击。他们并没有充分说明投资者的想法。</blockquote></p><p> “If you just look at the market action this week, it’s saying the Delta variant is a public-health crisis, but not an economic crisis,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.</p><p><blockquote>CIBC Private Wealth US首席投资官Dave Donabedian表示：“如果你只看本周的市场走势，就会发现德尔塔变异毒株是一场公共卫生危机，而不是经济危机。”</blockquote></p><p> At some point, the boredom will end, and the market will get more volatile. And the biggest risk might be that investors use the volatility to push the entire stock market higher, notes BTIG’s Julian Emanuel, treating it like one big meme stock.</p><p><blockquote>在某个时候，无聊会结束，市场会变得更加波动。BTIG的朱利安·伊曼纽尔(Julian Emanuel)指出，最大的风险可能是投资者利用波动性推高整个股市，将其视为一只大型模因股票。</blockquote></p><p> “[The] dramatic price action in ‘meme stocks’ both old and new raises the probability that higher volatility could result in an ‘altered reality’ exception,” he writes. “And there is only one previous exception where volatility went up and stocks continued to go up, and up, and up. At least for a while.”</p><p><blockquote>他写道：“新旧‘模因股票’的剧烈价格走势增加了波动性上升可能导致‘现实改变’例外的可能性。”“之前只有一个例外，波动性上升，股市继续上涨，上涨，上涨。至少在一段时间内是这样。”</blockquote></p><p> That, of course, was in 1999. Let’s hope we avoid the kind of excitement that followed.</p><p><blockquote>当然，那是在1999年。希望我们能避免随之而来的那种兴奋。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/dow-stock-market-sp-500-51628901659?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":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/dow-stock-market-sp-500-51628901659?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144073354","content_text":"Adventure. Excitement. The stock market doesn’t seem to crave these things lately. Investors should hope it stays that way.\nIt wasn’t quite like watching paint dry this past week, but it wasn’t that far off, either. Earnings reports were few and far between, the most prominent coming from Walt Disney (ticker: DIS) and eBay (EBAY). The economic news, including July’s consumer-price data, didn’t contain any shockers. And while the S&P 500 closed the week on a streak of four new highs, one of them was by less than a quarter of a point. The index rose 0.7%, to 4468.00, while the Dow Jones Industrial Average gained 306.87 points, or 0.9%, to 35,515.38. The Nasdaq Composite dipped 0.1%. to 14,822.90.\nExuberance this ain’t.\nWhy Stock Prices Are Poised to Keep Rising\nStill, there was some action underneath the surface. Tech,particularly chip stockslikeMicron Technology(MU),Lam Research(LRCX), andApplied Materials(AMAT), took it on the chin, while banks, includingGoldman Sachs Group(GS), and industrials such asCaterpillar(CAT), soared. And theInvesco S&P 500 Equal Weightexchange-traded fund (RSP) gained 0.8% on the week, outpacing the market-cap-weighted version.\n\nThat suggests that the stock market is rotating once again, out of tech and other growth stocks, which had been outperforming since May, and back into stocks that benefit from the strength of the U.S. economy, says Katie Stockton, founder of Fairlead Strategies. “A lot of rotation in constituents can fuel a bull market,” she says, noting that if more stocks start winning, it’s only a matter of time before the small-cap Russell 2000 index does, too.\nThat cyclicals have started breaking out again is impressive, particularly given the nonstop focus on the Covid-19 Delta variant. Whether it’s about states like Mississippi and Florida, or the Food and Drug Administration’s approval of a vaccine booster shot for people with compromised immune systems, renewed pandemic fears should have hit those stocks hard. That they didn’t says a lot about what investors are thinking.\n“If you just look at the market action this week, it’s saying the Delta variant is a public-health crisis, but not an economic crisis,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.\nAt some point, the boredom will end, and the market will get more volatile. And the biggest risk might be that investors use the volatility to push the entire stock market higher, notes BTIG’s Julian Emanuel, treating it like one big meme stock.\n“[The] dramatic price action in ‘meme stocks’ both old and new raises the probability that higher volatility could result in an ‘altered reality’ exception,” he writes. “And there is only one previous exception where volatility went up and stocks continued to go up, and up, and up. At least for a while.”\nThat, of course, was in 1999. Let’s hope we avoid the kind of excitement that followed.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":948,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892933689,"gmtCreate":1628631541841,"gmtModify":1631886372355,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/892933689","repostId":"1124291594","repostType":4,"isVote":1,"tweetType":1,"viewCount":858,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896021135,"gmtCreate":1628544876427,"gmtModify":1631886372372,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like please.","listText":"Like please.","text":"Like please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/896021135","repostId":"1182740672","repostType":4,"repost":{"id":"1182740672","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":1628511055,"share":"https://www.laohu8.com/m/news/1182740672?lang=zh_CN&edition=full","pubTime":"2021-08-09 20:10","market":"us","language":"en","title":"Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182740672","media":"Tiger Newspress","summary":"The S&P and the Dow index futures fell from record highs on Monday with oil stocks reeling from a mo","content":"<p>The S&amp;P and the Dow index futures fell from record highs on Monday with oil stocks reeling from a more than 4% slump in crude prices on concerns over rising COVID-19 cases in Asia.</p><p><blockquote>标准普尔指数和道琼斯指数期货周一从历史高点下跌，由于担心亚洲COVID-19病例不断增加，原油价格暴跌超过4%，石油股受到影响。</blockquote></p><p> At 8:05 a.m. ET, Dow E-minis were down 90 points, or 0.26%, S&amp;P 500 E-minis were down 5.5 points, or 0.12% and Nasdaq 100 E-minis were up 20 points, or 0.13%.</p><p><blockquote>截至美国东部时间上午8:05，道指E-mini下跌90点，即0.26%，标普500 E-mini下跌5.5点，即0.12%，纳斯达克100 E-mini上涨20点，即0.13%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/93b96fe26422f6fb5d7d4df86a535553\" tg-width=\"668\" tg-height=\"251\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:05</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源自Tiger Trade，美国东部时间08:05</span></p></blockquote></p><p> A stellar earnings season has seen U.S. stocks surge to record highs over the past two weeks, as several consensus-beating results from major firms reinforced faith in a post-COVID economic recovery this year.</p><p><blockquote>过去两周，美国股市在一个出色的财报季飙升至历史新高，主要公司的几项超出共识的业绩增强了人们对今年疫情后经济复苏的信心。</blockquote></p><p> Analysts expect second-quarter profit growth of 92.9% for S&amp;P 500 companies, according to IBES data from Refinitiv. Of the 427 companies in the index that have reported earnings so far, 87.6% beat analyst expectations, the highest on record.</p><p><blockquote>根据Refinitiv的IBES数据，分析师预计标普500公司第二季度利润将增长92.9%。在该指数迄今已公布财报的427家公司中，87.6%的公司超出分析师预期，为有记录以来的最高水平。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <a href=\"https://laohu8.com/S/SAFM\">Sanderson Farms</a> – The poultry producer agreed to be acquired for about $4.5 billion, or $203 per share, by privately-held food producer Cargill and agriculture investment firm Continental Grain. The all-cash deal represents an 11.3% premium over Friday’s closing price for Sanderson Farms. Sanderson shares surged 8.3% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/SAFM\">桑德森农场</a>-这家家禽生产商同意被私营食品生产商嘉吉和农业投资公司Continental Grain以约45亿美元（即每股203美元）的价格收购。这笔全现金交易较桑德森农场周五收盘价溢价11.3%。桑德森股价盘前飙升8.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> – Tesla gained 1.6% in the premarket after Jefferies upgraded the stock to “buy” from “hold,” based on what the firm feels is more efficient capital deployment and an improved ability by auto manufacturers to increase profit margins over time.</p><p><blockquote><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>-杰富瑞(Jefferies)将特斯拉股票评级从“持有”上调至“买入”，原因是该公司认为资本配置效率更高，以及汽车制造商随着时间的推移提高利润率的能力有所提高，该公司盘前股价上涨1.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/USFD\">US Foods Holding Corp</a> – The foodservice distributor’s shares rallied 6.5% in the premarket after beating Street forecasts with its second-quarter profit and revenue. U.S. Foods earned 58 cents per share, 22 cents a share above estimates, helped by strong demand for its products and services as the industry recovers from the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/USFD\">美国食品控股公司</a>-这家餐饮服务分销商第二季度利润和收入超出华尔街预期后，其股价在盘前上涨6.5%。美国食品公司每股盈利58美分，比预期高出22美分，这得益于该行业从疫情中复苏，对其产品和服务的强劲需求。</blockquote></p><p> <a href=\"https://laohu8.com/S/TSN\">Tyson</a> – The beef and poultry producer reported quarterly earnings of $2.70 per share, well above the consensus estimate of $1.62 a share. Revenue also came in above analysts’ projections. Results got a boost from strong consumer demand as well as restaurant reopenings. Tyson shares rose 2.6% in premarket trading.ovid</p><p><blockquote><a href=\"https://laohu8.com/S/TSN\">泰森</a>-这家牛肉和家禽生产商报告季度收益为每股2.70美元，远高于每股1.62美元的普遍预期。收入也高于分析师的预测。强劲的消费者需求以及餐厅重新开业提振了业绩。泰森食品股价在盘前交易中上涨2.6%。ovid</blockquote></p><p> <a href=\"https://laohu8.com/S/NCLH\">Norwegian Cruise Line</a> – A federal judge ruled that the cruise linecan ask passengers for proof of Covid-19 vaccination, temporarily blocking a Florida law banning that practice.</p><p><blockquote><a href=\"https://laohu8.com/S/NCLH\">挪威邮轮公司</a>–一名联邦法官裁定，邮轮公司可以要求乘客提供Covid-19疫苗接种证明，暂时阻止了佛罗里达州禁止这种做法的法律。</blockquote></p><p> <a href=\"https://laohu8.com/S/BRK.B\">Berkshire Hathaway</a> – Berkshire shares rose 1.2% in premarket tradingafter it reported a 7% increasein second-quarter earnings. Berkshire’s results were helped by a rebound across its businesses including its railroad and energy companies.</p><p><blockquote><a href=\"https://laohu8.com/S/BRK.B\">伯克希尔哈撒韦</a>-伯克希尔股价在盘前交易中上涨1.2%，此前该公司公布第二季度盈利增长7%。伯克希尔的业绩得益于其铁路和能源公司等业务的反弹。</blockquote></p><p> <a href=\"https://laohu8.com/S/VNE\">Veoneer, Inc.</a> – The auto parts maker said it would begin talks withQualcomm(QCOM) about the chip maker’s takeover bid, which topped a bid from automotive software makerMagna International(MGA) that had been previously approved by Veoneer’s board. Qualcomm’s bid is worth $4.6 billion, compared to the approximately $3.8 billion value of Magna’s deal. Veoneer slid 3.3% in premarket trading.</p><p><blockquote><a href=\"https://laohu8.com/S/VNE\">维尼尔公司。</a>–这家汽车零部件制造商表示，将开始与高通(QCOM)就该芯片制造商的收购要约进行谈判，该收购要约高于汽车软件制造商麦格纳国际(MGA)此前已获得Veoneer董事会批准的收购要约。高通的出价价值46亿美元，而麦格纳的交易价值约为38亿美元。Veoneer在盘前交易中下跌3.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/EXAS\">Exact Sciences</a> – The molecular diagnostics company has approached genetic testing firmInvitae(NVTA) about a possible merger, according to people familiar with the matter who spoke to Bloomberg. The people said the two sides are not in active talks and that a seal would likely be a low-premium, all-stock transaction. Invitae surged 7.2% in the premarket while Exact Sciences fell 2%.</p><p><blockquote><a href=\"https://laohu8.com/S/EXAS\">精确科学</a>–据接受彭博社采访的知情人士透露，这家分子诊断公司已就可能的合并事宜与基因检测公司MinVitae(NVTA)接洽。知情人士表示，双方并未进行积极谈判，seal可能是一项低溢价、全股票交易。Invitae盘前飙升7.2%，而Exact Sciences下跌2%。</blockquote></p><p> <a href=\"https://laohu8.com/S/DLTR\">Dollar Tree</a> – The discount retailer was downgraded to “hold” from “buy” at Deutsche Bank, which expressed concerns about the impact of increased freight and labor costs on profit margins. Dollar Tree lost 1.5% in premarket action.</p><p><blockquote><a href=\"https://laohu8.com/S/DLTR\">美元树</a>-德意志银行将这家折扣零售商的评级从“买入”下调至“持有”，该行对运费和劳动力成本增加对利润率的影响表示担忧。Dollar Tree在盘前下跌1.5%。</blockquote></p><p> <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a> ,<a href=\"https://laohu8.com/S/CVX\">Chevron</a> – These and other energy companies are under pressure as&nbsp;oil prices slide&nbsp;following &nbsp;a&nbsp;U.N. report on the impact of climate change. Exxon fell 1.3% in premarket trading, while Chevron was down 1.6%.</p><p><blockquote><a href=\"https://laohu8.com/S/XOM\">埃克森美孚</a>,<a href=\"https://laohu8.com/S/CVX\">雪佛龙</a>——这些公司和其他能源公司正面临压力，因为油价在联合国决议后下滑。关于气候变化影响的报告。埃克森美孚在盘前交易中下跌1.3%，雪佛龙下跌1.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/VSCO\">Victoria's Secret &amp; Co</a> – JPMorgan Chase initiated coverage on the women’s apparel retailer with an “overweight” rating, noting its dominant market position in lingerie and nightwear and expansion opportunities in swimwear. Victoria’s Secret added 1.6% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/VSCO\">维多利亚的秘密公司</a>-摩根大通首次对这家女装零售商给予“跑赢大盘”评级，指出其在内衣和睡衣领域的主导市场地位以及在泳装领域的扩张机会。维多利亚的秘密(Victoria's Secret)盘前上涨1.6%。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/NTES\">NetEase</a> – The China-based online services company surged 2.3% in premarket trading, following a Reuters report that it has delayed a planned $1 billion Hong Kong initial public offering of its Cloud Village music streaming service. People with direct knowledge of the matter said the delay was due to volatile trading in China’s major tech companies.</p><p><blockquote><a href=\"https://laohu8.com/S/NTES\">网易</a>–这家总部位于中国的在线服务公司在盘前交易中飙升2.3%，此前路透社报道称，该公司推迟了其Cloud Village音乐流媒体服务计划10亿美元的香港首次公开募股。直接了解此事的人士表示，推迟是由于中国主要科技公司的交易波动。</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>Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</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\">\nToplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-09 20:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P and the Dow index futures fell from record highs on Monday with oil stocks reeling from a more than 4% slump in crude prices on concerns over rising COVID-19 cases in Asia.</p><p><blockquote>标准普尔指数和道琼斯指数期货周一从历史高点下跌，由于担心亚洲COVID-19病例不断增加，原油价格暴跌超过4%，石油股受到影响。</blockquote></p><p> At 8:05 a.m. ET, Dow E-minis were down 90 points, or 0.26%, S&amp;P 500 E-minis were down 5.5 points, or 0.12% and Nasdaq 100 E-minis were up 20 points, or 0.13%.</p><p><blockquote>截至美国东部时间上午8:05，道指E-mini下跌90点，即0.26%，标普500 E-mini下跌5.5点，即0.12%，纳斯达克100 E-mini上涨20点，即0.13%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/93b96fe26422f6fb5d7d4df86a535553\" tg-width=\"668\" tg-height=\"251\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:05</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源自Tiger Trade，美国东部时间08:05</span></p></blockquote></p><p> A stellar earnings season has seen U.S. stocks surge to record highs over the past two weeks, as several consensus-beating results from major firms reinforced faith in a post-COVID economic recovery this year.</p><p><blockquote>过去两周，美国股市在一个出色的财报季飙升至历史新高，主要公司的几项超出共识的业绩增强了人们对今年疫情后经济复苏的信心。</blockquote></p><p> Analysts expect second-quarter profit growth of 92.9% for S&amp;P 500 companies, according to IBES data from Refinitiv. Of the 427 companies in the index that have reported earnings so far, 87.6% beat analyst expectations, the highest on record.</p><p><blockquote>根据Refinitiv的IBES数据，分析师预计标普500公司第二季度利润将增长92.9%。在该指数迄今已公布财报的427家公司中，87.6%的公司超出分析师预期，为有记录以来的最高水平。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <a href=\"https://laohu8.com/S/SAFM\">Sanderson Farms</a> – The poultry producer agreed to be acquired for about $4.5 billion, or $203 per share, by privately-held food producer Cargill and agriculture investment firm Continental Grain. The all-cash deal represents an 11.3% premium over Friday’s closing price for Sanderson Farms. Sanderson shares surged 8.3% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/SAFM\">桑德森农场</a>-这家家禽生产商同意被私营食品生产商嘉吉和农业投资公司Continental Grain以约45亿美元（即每股203美元）的价格收购。这笔全现金交易较桑德森农场周五收盘价溢价11.3%。桑德森股价盘前飙升8.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> – Tesla gained 1.6% in the premarket after Jefferies upgraded the stock to “buy” from “hold,” based on what the firm feels is more efficient capital deployment and an improved ability by auto manufacturers to increase profit margins over time.</p><p><blockquote><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>-杰富瑞(Jefferies)将特斯拉股票评级从“持有”上调至“买入”，原因是该公司认为资本配置效率更高，以及汽车制造商随着时间的推移提高利润率的能力有所提高，该公司盘前股价上涨1.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/USFD\">US Foods Holding Corp</a> – The foodservice distributor’s shares rallied 6.5% in the premarket after beating Street forecasts with its second-quarter profit and revenue. U.S. Foods earned 58 cents per share, 22 cents a share above estimates, helped by strong demand for its products and services as the industry recovers from the pandemic.</p><p><blockquote><a href=\"https://laohu8.com/S/USFD\">美国食品控股公司</a>-这家餐饮服务分销商第二季度利润和收入超出华尔街预期后，其股价在盘前上涨6.5%。美国食品公司每股盈利58美分，比预期高出22美分，这得益于该行业从疫情中复苏，对其产品和服务的强劲需求。</blockquote></p><p> <a href=\"https://laohu8.com/S/TSN\">Tyson</a> – The beef and poultry producer reported quarterly earnings of $2.70 per share, well above the consensus estimate of $1.62 a share. Revenue also came in above analysts’ projections. Results got a boost from strong consumer demand as well as restaurant reopenings. Tyson shares rose 2.6% in premarket trading.ovid</p><p><blockquote><a href=\"https://laohu8.com/S/TSN\">泰森</a>-这家牛肉和家禽生产商报告季度收益为每股2.70美元，远高于每股1.62美元的普遍预期。收入也高于分析师的预测。强劲的消费者需求以及餐厅重新开业提振了业绩。泰森食品股价在盘前交易中上涨2.6%。ovid</blockquote></p><p> <a href=\"https://laohu8.com/S/NCLH\">Norwegian Cruise Line</a> – A federal judge ruled that the cruise linecan ask passengers for proof of Covid-19 vaccination, temporarily blocking a Florida law banning that practice.</p><p><blockquote><a href=\"https://laohu8.com/S/NCLH\">挪威邮轮公司</a>–一名联邦法官裁定，邮轮公司可以要求乘客提供Covid-19疫苗接种证明，暂时阻止了佛罗里达州禁止这种做法的法律。</blockquote></p><p> <a href=\"https://laohu8.com/S/BRK.B\">Berkshire Hathaway</a> – Berkshire shares rose 1.2% in premarket tradingafter it reported a 7% increasein second-quarter earnings. Berkshire’s results were helped by a rebound across its businesses including its railroad and energy companies.</p><p><blockquote><a href=\"https://laohu8.com/S/BRK.B\">伯克希尔哈撒韦</a>-伯克希尔股价在盘前交易中上涨1.2%，此前该公司公布第二季度盈利增长7%。伯克希尔的业绩得益于其铁路和能源公司等业务的反弹。</blockquote></p><p> <a href=\"https://laohu8.com/S/VNE\">Veoneer, Inc.</a> – The auto parts maker said it would begin talks withQualcomm(QCOM) about the chip maker’s takeover bid, which topped a bid from automotive software makerMagna International(MGA) that had been previously approved by Veoneer’s board. Qualcomm’s bid is worth $4.6 billion, compared to the approximately $3.8 billion value of Magna’s deal. Veoneer slid 3.3% in premarket trading.</p><p><blockquote><a href=\"https://laohu8.com/S/VNE\">维尼尔公司。</a>–这家汽车零部件制造商表示，将开始与高通(QCOM)就该芯片制造商的收购要约进行谈判，该收购要约高于汽车软件制造商麦格纳国际(MGA)此前已获得Veoneer董事会批准的收购要约。高通的出价价值46亿美元，而麦格纳的交易价值约为38亿美元。Veoneer在盘前交易中下跌3.3%。</blockquote></p><p> <a href=\"https://laohu8.com/S/EXAS\">Exact Sciences</a> – The molecular diagnostics company has approached genetic testing firmInvitae(NVTA) about a possible merger, according to people familiar with the matter who spoke to Bloomberg. The people said the two sides are not in active talks and that a seal would likely be a low-premium, all-stock transaction. Invitae surged 7.2% in the premarket while Exact Sciences fell 2%.</p><p><blockquote><a href=\"https://laohu8.com/S/EXAS\">精确科学</a>–据接受彭博社采访的知情人士透露，这家分子诊断公司已就可能的合并事宜与基因检测公司MinVitae(NVTA)接洽。知情人士表示，双方并未进行积极谈判，seal可能是一项低溢价、全股票交易。Invitae盘前飙升7.2%，而Exact Sciences下跌2%。</blockquote></p><p> <a href=\"https://laohu8.com/S/DLTR\">Dollar Tree</a> – The discount retailer was downgraded to “hold” from “buy” at Deutsche Bank, which expressed concerns about the impact of increased freight and labor costs on profit margins. Dollar Tree lost 1.5% in premarket action.</p><p><blockquote><a href=\"https://laohu8.com/S/DLTR\">美元树</a>-德意志银行将这家折扣零售商的评级从“买入”下调至“持有”，该行对运费和劳动力成本增加对利润率的影响表示担忧。Dollar Tree在盘前下跌1.5%。</blockquote></p><p> <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a> ,<a href=\"https://laohu8.com/S/CVX\">Chevron</a> – These and other energy companies are under pressure as&nbsp;oil prices slide&nbsp;following &nbsp;a&nbsp;U.N. report on the impact of climate change. Exxon fell 1.3% in premarket trading, while Chevron was down 1.6%.</p><p><blockquote><a href=\"https://laohu8.com/S/XOM\">埃克森美孚</a>,<a href=\"https://laohu8.com/S/CVX\">雪佛龙</a>——这些公司和其他能源公司正面临压力，因为油价在联合国决议后下滑。关于气候变化影响的报告。埃克森美孚在盘前交易中下跌1.3%，雪佛龙下跌1.6%。</blockquote></p><p> <a href=\"https://laohu8.com/S/VSCO\">Victoria's Secret &amp; Co</a> – JPMorgan Chase initiated coverage on the women’s apparel retailer with an “overweight” rating, noting its dominant market position in lingerie and nightwear and expansion opportunities in swimwear. Victoria’s Secret added 1.6% in the premarket.</p><p><blockquote><a href=\"https://laohu8.com/S/VSCO\">维多利亚的秘密公司</a>-摩根大通首次对这家女装零售商给予“跑赢大盘”评级，指出其在内衣和睡衣领域的主导市场地位以及在泳装领域的扩张机会。维多利亚的秘密(Victoria's Secret)盘前上涨1.6%。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/NTES\">NetEase</a> – The China-based online services company surged 2.3% in premarket trading, following a Reuters report that it has delayed a planned $1 billion Hong Kong initial public offering of its Cloud Village music streaming service. People with direct knowledge of the matter said the delay was due to volatile trading in China’s major tech companies.</p><p><blockquote><a href=\"https://laohu8.com/S/NTES\">网易</a>–这家总部位于中国的在线服务公司在盘前交易中飙升2.3%，此前路透社报道称，该公司推迟了其Cloud Village音乐流媒体服务计划10亿美元的香港首次公开募股。直接了解此事的人士表示，推迟是由于中国主要科技公司的交易波动。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182740672","content_text":"The S&P and the Dow index futures fell from record highs on Monday with oil stocks reeling from a more than 4% slump in crude prices on concerns over rising COVID-19 cases in Asia.\nAt 8:05 a.m. ET, Dow E-minis were down 90 points, or 0.26%, S&P 500 E-minis were down 5.5 points, or 0.12% and Nasdaq 100 E-minis were up 20 points, or 0.13%.\n*Source From Tiger Trade, EST 08:05\nA stellar earnings season has seen U.S. stocks surge to record highs over the past two weeks, as several consensus-beating results from major firms reinforced faith in a post-COVID economic recovery this year.\nAnalysts expect second-quarter profit growth of 92.9% for S&P 500 companies, according to IBES data from Refinitiv. Of the 427 companies in the index that have reported earnings so far, 87.6% beat analyst expectations, the highest on record.\nStocks making the biggest moves in the premarket:\nSanderson Farms – The poultry producer agreed to be acquired for about $4.5 billion, or $203 per share, by privately-held food producer Cargill and agriculture investment firm Continental Grain. The all-cash deal represents an 11.3% premium over Friday’s closing price for Sanderson Farms. Sanderson shares surged 8.3% in the premarket.\nTesla Motors – Tesla gained 1.6% in the premarket after Jefferies upgraded the stock to “buy” from “hold,” based on what the firm feels is more efficient capital deployment and an improved ability by auto manufacturers to increase profit margins over time.\nUS Foods Holding Corp – The foodservice distributor’s shares rallied 6.5% in the premarket after beating Street forecasts with its second-quarter profit and revenue. U.S. Foods earned 58 cents per share, 22 cents a share above estimates, helped by strong demand for its products and services as the industry recovers from the pandemic.\nTyson – The beef and poultry producer reported quarterly earnings of $2.70 per share, well above the consensus estimate of $1.62 a share. Revenue also came in above analysts’ projections. Results got a boost from strong consumer demand as well as restaurant reopenings. Tyson shares rose 2.6% in premarket trading.ovid\nNorwegian Cruise Line – A federal judge ruled that the cruise linecan ask passengers for proof of Covid-19 vaccination, temporarily blocking a Florida law banning that practice.\nBerkshire Hathaway – Berkshire shares rose 1.2% in premarket tradingafter it reported a 7% increasein second-quarter earnings. Berkshire’s results were helped by a rebound across its businesses including its railroad and energy companies.\nVeoneer, Inc. – The auto parts maker said it would begin talks withQualcomm(QCOM) about the chip maker’s takeover bid, which topped a bid from automotive software makerMagna International(MGA) that had been previously approved by Veoneer’s board. Qualcomm’s bid is worth $4.6 billion, compared to the approximately $3.8 billion value of Magna’s deal. Veoneer slid 3.3% in premarket trading.\nExact Sciences – The molecular diagnostics company has approached genetic testing firmInvitae(NVTA) about a possible merger, according to people familiar with the matter who spoke to Bloomberg. The people said the two sides are not in active talks and that a seal would likely be a low-premium, all-stock transaction. Invitae surged 7.2% in the premarket while Exact Sciences fell 2%.\nDollar Tree – The discount retailer was downgraded to “hold” from “buy” at Deutsche Bank, which expressed concerns about the impact of increased freight and labor costs on profit margins. Dollar Tree lost 1.5% in premarket action.\nExxon Mobil ,Chevron – These and other energy companies are under pressure as oil prices slide following  a U.N. report on the impact of climate change. Exxon fell 1.3% in premarket trading, while Chevron was down 1.6%.\nVictoria's Secret & Co – JPMorgan Chase initiated coverage on the women’s apparel retailer with an “overweight” rating, noting its dominant market position in lingerie and nightwear and expansion opportunities in swimwear. Victoria’s Secret added 1.6% in the premarket.\nNetEase – The China-based online services company surged 2.3% in premarket trading, following a Reuters report that it has delayed a planned $1 billion Hong Kong initial public offering of its Cloud Village music streaming service. People with direct knowledge of the matter said the delay was due to volatile trading in China’s major tech companies.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":837,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898961957,"gmtCreate":1628468962079,"gmtModify":1631886372388,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/898961957","repostId":"1136322726","repostType":4,"isVote":1,"tweetType":1,"viewCount":594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893535159,"gmtCreate":1628284463371,"gmtModify":1631886372395,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/893535159","repostId":"1155656235","repostType":4,"repost":{"id":"1155656235","kind":"news","pubTimestamp":1628227304,"share":"https://www.laohu8.com/m/news/1155656235?lang=zh_CN&edition=full","pubTime":"2021-08-06 13:21","market":"us","language":"en","title":"20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的20只云股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155656235","media":"MarketWatch","summary":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales ","content":"<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在该行业反弹的推动下，云ETF接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计，提供云服务的公司未来将实现强劲的销售增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国的传言和德尔塔变异毒株感染人数激增，但美国投资者仍然看涨。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于计算能力向互联网分布式模式转变前沿的公司——预计将在未来几年快速增长，覆盖该领域的五家最大交易所交易基金中有四家即将创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些ETF持有的股票屏幕，显示了预计到2023年销售额增幅最大的股票。在一个许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动力。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>首先，我们查看了五只最大的云ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何ETF感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至8月4日的总回报比较，以及SPDR标普500 ETF和Invesco QQQ Trust（跟踪纳斯达克100指数）的总回报比较：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF的方法不同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪一个指数。根据Ark Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，占投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云ETF中，ARKW独有的另一个持股是华特迪士尼公司，该公司通过其Disney+流媒体服务无疑是一个重要的云参与者，即使该公司没有直接说明其销售额有多少来自该快速增长的部分。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>作为对ARKW描述的一部分，FactSet表示如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术有信心的投资者，但投资组合的实施是一项更加困难的任务：大多数开发这些进步的公司都是大公司，新兴技术仅占总收入的一小部分。因此，很难纯粹接触ARKW的目标技术，因此请务必确认该基金的持股（而不仅仅是其论点）与您对该领域的看法一致。”</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测2023年的销售增长，我们使用2020年日历的销售预测作为基线，然后查看FactSet调查的分析师对随后三年的一致预测（如果有）。（2020年的数字是估计值，因为许多公司的财年与日历不符。）</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将该小组限制在FactSet调查的至少5名分析师覆盖的126家公司，这些公司可以获得2020年至2023年的一致销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到2023年销售额复合年增长率(CAGR)最高的20家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有21只股票上市，包括Zillow Group Inc.的A类和C类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该榜单以ARKW持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来12个月共识预测的当前远期市销率、当前市值与2023年预计销售额的比率以及分析师对这些股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为2.8，2023年预计市销率为2.6。对于QQQ，目前的市盈率为4.7，2023年将降至4.3。</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>20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的20只云股票</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\">\n20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的20只云股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-06 13:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在该行业反弹的推动下，云ETF接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计，提供云服务的公司未来将实现强劲的销售增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国的传言和德尔塔变异毒株感染人数激增，但美国投资者仍然看涨。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于计算能力向互联网分布式模式转变前沿的公司——预计将在未来几年快速增长，覆盖该领域的五家最大交易所交易基金中有四家即将创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些ETF持有的股票屏幕，显示了预计到2023年销售额增幅最大的股票。在一个许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动力。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>首先，我们查看了五只最大的云ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何ETF感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至8月4日的总回报比较，以及SPDR标普500 ETF和Invesco QQQ Trust（跟踪纳斯达克100指数）的总回报比较：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF的方法不同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪一个指数。根据Ark Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，占投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云ETF中，ARKW独有的另一个持股是华特迪士尼公司，该公司通过其Disney+流媒体服务无疑是一个重要的云参与者，即使该公司没有直接说明其销售额有多少来自该快速增长的部分。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>作为对ARKW描述的一部分，FactSet表示如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术有信心的投资者，但投资组合的实施是一项更加困难的任务：大多数开发这些进步的公司都是大公司，新兴技术仅占总收入的一小部分。因此，很难纯粹接触ARKW的目标技术，因此请务必确认该基金的持股（而不仅仅是其论点）与您对该领域的看法一致。”</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测2023年的销售增长，我们使用2020年日历的销售预测作为基线，然后查看FactSet调查的分析师对随后三年的一致预测（如果有）。（2020年的数字是估计值，因为许多公司的财年与日历不符。）</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将该小组限制在FactSet调查的至少5名分析师覆盖的126家公司，这些公司可以获得2020年至2023年的一致销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到2023年销售额复合年增长率(CAGR)最高的20家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有21只股票上市，包括Zillow Group Inc.的A类和C类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该榜单以ARKW持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来12个月共识预测的当前远期市销率、当前市值与2023年预计销售额的比率以及分析师对这些股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为2.8，2023年预计市销率为2.6。对于QQQ，目前的市盈率为4.7，2023年将降至4.3。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZG":"Zillow Class A","ADYEY":"Adyen N.V.","PDD":"拼多多","SHOP":"Shopify Inc","SE":"Sea Ltd","SNAP":"Snap Inc","DKNG":"DraftKings Inc.","ROKU":"Roku Inc","VCYT":"Veracyte Inc","TDOC":"Teladoc Health Inc.","COIN":"Coinbase Global, Inc.","OKTA":"Okta Inc.","LC":"LendingClub","CRWD":"CrowdStrike Holdings, Inc.","Z":"Zillow","TSLA":"特斯拉","KC":"金山云","SKLZ":"Skillz Inc","PINS":"Pinterest, Inc.","MELI":"MercadoLibre"},"source_url":"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155656235","content_text":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)\nU.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.\nCloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.\nBelow is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.\nTo begin the screen, we looked at the five largest cloud ETFs:\nSource: FactSet\nETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.\nHere’s a comparison of total returns through Aug. 4, along with those for the SPDR S&P 500 ETF and the Invesco QQQ Trust (which tracks the Nasdaq-100 Index) for comparison:\nSource: FactSet\nThe ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.\nAnother holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.\nAs part of its description of ARKW, FactSet says the following:\n“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”\nCloud-stock screen\nTogether, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)\nTo make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.\nHere are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:\n\nSource: FactSet\nThere are actually 21 stocks listed, including Zillow Group Inc.’s Class A and Class C shares.\nIt is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.\nHere are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.\n\nSource: FactSet\nIn comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.","news_type":1,"symbols_score_info":{"ADYEY":0.9,"MELI":0.9,"TSLA":0.9,"COIN":0.9,"VCYT":0.9,"DKNG":0.9,"LC":0.9,"SKLZ":0.9,"ZG":0.9,"SE":0.9,"ROKU":0.9,"SHOP":0.9,"PDD":0.9,"KC":0.9,"TDOC":0.9,"OKTA":0.9,"PINS":0.9,"Z":0.9,"CRWD":0.9,"SNAP":0.9,"SQ":0.9}},"isVote":1,"tweetType":1,"viewCount":826,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807889180,"gmtCreate":1628028951040,"gmtModify":1631889858052,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/807889180","repostId":"1127822150","repostType":4,"isVote":1,"tweetType":1,"viewCount":883,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807880241,"gmtCreate":1628028908483,"gmtModify":1631889858057,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/807880241","repostId":"1171505764","repostType":4,"isVote":1,"tweetType":1,"viewCount":1017,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805965744,"gmtCreate":1627852927888,"gmtModify":1631889858058,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/805965744","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":788,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802824760,"gmtCreate":1627766707350,"gmtModify":1631889858062,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/802824760","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohu8.com/m/news/1147779023?lang=zh_CN&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键经验教训。</b>投资是一场艰苦的游戏。这就是为什么如此多的共同基金落后于其指数。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你找到一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>专注于美国世纪的动态增长基金符合这一要求。据晨星公司称，这只价值28亿美元的基金在过去三年和五年的年化收益比罗素1000增长指数高出6个百分点以上。五年来，它的年化表现比高增长类别高出8.6个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由Prabha Ram共同管理，我最近采访了他。拉姆在印度长大，来到美国，在缅因大学担任助教，并在那里获得了计算机科学硕士学位。她后来在宾夕法尼亚大学沃顿商学院获得了MBA学位。Ram和其他三位投资组合经理自2016年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的示例。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1.拥有能在大市场“落地扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司仍然在纸上做大部分业务。Bill.comBill想要改变这一点。该公司由首席执行官RenéLacerte创立，他在20世纪90年代末创办了在线薪资公司PayCycle，该公司被Intuit收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com帮助小公司实现应付账款和应收账款的数字化。但这仅仅是个开始。一旦进入公司内部，Bill.com就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com“登陆并扩展”客户，但它也利用他们的商业伙伴来创建潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“每个供应商都是网络成员，即使它不是Bill.com客户，”Ram说。这个网络大约有250万成员。Bill.com还从其合作伙伴那里获得了潜在客户，包括美国银行BAC、摩根大通JP和美国运通XP。第一季度销售额增长45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们往往表现出色。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2.寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>Ram的投资组合中包含明显的创新者，包括TeslaTSLA、Amazon.comAMZN和AlphabetGOOGL，这是她的前三名。让我们超越技术，看看啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在20世纪80年代，波士顿啤酒创始人吉姆·科赫(Jim Koch)从塞缪尔·亚当斯(Samuel Adams)开始推出成功的“精酿”啤酒，开始从啤酒巨头安海斯-布希(Anheuser-Busch InbevBUD)和喜力海尼(Heinekenheiny)手中夺取份额。科赫帮助发明了精酿啤酒类别，基本上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味生产更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在2015年至2017年期间因啤酒销量整体持平而陷入停滞。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们被这家公司吸引是因为它的创新历史，”拉姆在谈到她的基金2016年第二季度的早期头寸时说道。“由于啤酒市场趋于平缓，该股表现不佳，但他们推出了真正的硬苏打水。真正的苏打水比我们预期的更成功。它创造了一个新的类别。”</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒对创新的热情帮助拉姆的基金得以保留。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去表现出创新能力的人领导的公司。创新型管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们押注他们会再次成功。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。由于众多竞争对手进入烈性苹果酒领域，波士顿啤酒股价7月23日下跌20%。由于该公司提高了广告成本以对抗竞争，销售额增长了33%，但净利润下降了1.6%。由于预计销售增长放缓，该公司大幅下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但还不要排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>波士顿啤酒的科赫表示：“我们最近宣布计划与Beam Suntory合作开发新的创新饮料，计划于2022年初推出。”Beam Suntory销售Jim Beam威士忌和其他品牌的烈酒。“我们相信，随着饮酒者偏好的变化，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3.寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不真正关心当地的瑜伽教练是否可以接受信用卡付款。SquareSQ认为这是一个机会。于是在2009年推出了卡支付设备业务。从那时起，它通过接纳更大的客户并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而实现了增长。第一季度基于交易的收入增长了27%，订阅和服务收入飙升了88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一家公司创造商业利基的一个很好的例子。但它也是一家“土地和扩张”的公司，因为它通过向客户提供新服务来发展。这两种品质都有助于公司保持拉姆喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4.买入快速成长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一种方法是识别开发将改变整个行业的产品的公司。Ram认为Alnylam PharmaceuticalsALNY的情况就是如此。它正在开发基于RNA干扰（RNAi）技术的新疗法。在体内，信使RNA（mRNA）根据来自RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种获得批准的基于RNAi的药物，用于治疗罕见的遗传性疾病。该公司还有十几种其他疗法处于临床研究中，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“这是一个全新的治疗领域，”拉姆说。“它是一个可以治疗多种疾病的产品平台。”</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>上述所有名字都是拉姆基金中的大量头寸，这告诉我拉姆和她的团队认为他们有更大的上涨空间。不过，如果您购买其中任何一款，请记住您必须在多年的时间范围内购买。拉姆的基金就是这么做的。它的年投资组合周转率较低，为27%。有长远的眼光很重要，因为看涨期权股市或股票的短期走势非常困难，你需要给公司发展的时间。</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>You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</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\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股市指数——这位基金经理做到了，她和她的团队就是这样做到的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-31 15:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>  Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p><p><blockquote><b>美国世纪聚焦动态增长基金的Prabha Ram关于优异表现的五个关键经验教训。</b>投资是一场艰苦的游戏。这就是为什么如此多的共同基金落后于其指数。</blockquote></p><p> So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p><p><blockquote>因此，当你找到一只记录良好的基金时，调查基金经理在做什么是值得的——吸取一些教训。</blockquote></p><p> The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p><p><blockquote>专注于美国世纪的动态增长基金符合这一要求。据晨星公司称，这只价值28亿美元的基金在过去三年和五年的年化收益比罗素1000增长指数高出6个百分点以上。五年来，它的年化表现比高增长类别高出8.6个百分点。它有一个合理的0.65%的费用率。</blockquote></p><p> The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p><p><blockquote>该基金由Prabha Ram共同管理，我最近采访了他。拉姆在印度长大，来到美国，在缅因大学担任助教，并在那里获得了计算机科学硕士学位。她后来在宾夕法尼亚大学沃顿商学院获得了MBA学位。Ram和其他三位投资组合经理自2016年以来一直领导该基金。</blockquote></p><p> Here are the five key takeaways, with examples of specific stocks.</p><p><blockquote>以下是五个关键要点，并附有具体股票的示例。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1.拥有能在大市场“落地扩张”的公司</b></blockquote></p><p> Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p><p><blockquote>尽管我们已经进入数字时代多年，但许多小公司仍然在纸上做大部分业务。Bill.comBill想要改变这一点。该公司由首席执行官RenéLacerte创立，他在20世纪90年代末创办了在线薪资公司PayCycle，该公司被Intuit收购。</blockquote></p><p> Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p><p><blockquote>Bill.com帮助小公司实现应付账款和应收账款的数字化。但这仅仅是个开始。一旦进入公司内部，Bill.com就会将现金和费用账户管理等其他领域数字化。</blockquote></p><p> Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p><p><blockquote>Bill.com“登陆并扩展”客户，但它也利用他们的商业伙伴来创建潜在客户网络。</blockquote></p><p> “Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p><p><blockquote>“每个供应商都是网络成员，即使它不是Bill.com客户，”Ram说。这个网络大约有250万成员。Bill.com还从其合作伙伴那里获得了潜在客户，包括美国银行BAC、摩根大通JP和美国运通XP。第一季度销售额增长45%。</blockquote></p><p> Founder-run companies such as this one are worth considering because they often outperform.</p><p><blockquote>像这样的创始人经营的公司值得考虑，因为它们往往表现出色。</blockquote></p><p> <b>2. Seek out innovators</b></p><p><blockquote><b>2.寻找创新者</b></blockquote></p><p> Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p><p><blockquote>Ram的投资组合中包含明显的创新者，包括TeslaTSLA、Amazon.comAMZN和AlphabetGOOGL，这是她的前三名。让我们超越技术，看看啤酒。</blockquote></p><p> Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p><p><blockquote>早在20世纪80年代，波士顿啤酒创始人吉姆·科赫(Jim Koch)从塞缪尔·亚当斯(Samuel Adams)开始推出成功的“精酿”啤酒，开始从啤酒巨头安海斯-布希(Anheuser-Busch InbevBUD)和喜力海尼(Heinekenheiny)手中夺取份额。科赫帮助发明了精酿啤酒类别，基本上将美国带回了禁酒令前的时代，当时美国有数百家地区啤酒厂为当地口味生产更美味的啤酒。</blockquote></p><p> Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p><p><blockquote>波士顿啤酒股票表现非常好，但随后在2015年至2017年期间因啤酒销量整体持平而陷入停滞。作为回应，波士顿啤酒帮助推出了一个新的类别——其真正的硬苏打水品牌于2106年推出。它仍然是领先的硬苏打水之一。</blockquote></p><p> “We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p><p><blockquote>“我们被这家公司吸引是因为它的创新历史，”拉姆在谈到她的基金2016年第二季度的早期头寸时说道。“由于啤酒市场趋于平缓，该股表现不佳，但他们推出了真正的硬苏打水。真正的苏打水比我们预期的更成功。它创造了一个新的类别。”</blockquote></p><p> This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p><p><blockquote>波士顿啤酒对创新的热情帮助拉姆的基金得以保留。其他成功的波士顿啤酒品牌包括扭曲茶、愤怒果园和狗鱼头。</blockquote></p><p> A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p><p><blockquote>这里的一个关键要点是，要寻找创新公司，要寻找那些由过去表现出创新能力的人领导的公司。创新型管理者倾向于不断创新。波士顿啤酒不断测试新的苏打水、啤酒、烈性苹果酒、蒸馏酒和其他饮料。股东们押注他们会再次成功。</blockquote></p><p> They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p><p><blockquote>他们需要帮助。由于众多竞争对手进入烈性苹果酒领域，波士顿啤酒股价7月23日下跌20%。由于该公司提高了广告成本以对抗竞争，销售额增长了33%，但净利润下降了1.6%。由于预计销售增长放缓，该公司大幅下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但还不要排除这位创新者。</blockquote></p><p> “We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p><p><blockquote>波士顿啤酒的科赫表示：“我们最近宣布计划与Beam Suntory合作开发新的创新饮料，计划于2022年初推出。”Beam Suntory销售Jim Beam威士忌和其他品牌的烈酒。“我们相信，随着饮酒者偏好的变化，这些新饮料将进一步展示我们创新和发展业务的能力。”</blockquote></p><p> <b>3. Look for companies that can create and dominate a niche</b></p><p><blockquote><b>3.寻找能够创造并主导利基市场的公司</b></blockquote></p><p></p><p> For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p><p><blockquote>多年来，随着零工经济的出现，大型信用卡公司并不真正关心当地的瑜伽教练是否可以接受信用卡付款。SquareSQ认为这是一个机会。于是在2009年推出了卡支付设备业务。从那时起，它通过接纳更大的客户并扩展到现金管理、借记卡贷款和报税等金融服务的新业务领域而实现了增长。第一季度基于交易的收入增长了27%，订阅和服务收入飙升了88%。</blockquote></p><p> This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p><p><blockquote>这是一家公司创造商业利基的一个很好的例子。但它也是一家“土地和扩张”的公司，因为它通过向客户提供新服务来发展。这两种品质都有助于公司保持拉姆喜欢在投资中看到的竞争优势。</blockquote></p><p> <b>4. Buy companies in the early stages of rapid growth</b></p><p><blockquote><b>4.买入快速成长初期的公司</b></blockquote></p><p> One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p><p><blockquote>找到这些的一种方法是识别开发将改变整个行业的产品的公司。Ram认为Alnylam PharmaceuticalsALNY的情况就是如此。它正在开发基于RNA干扰（RNAi）技术的新疗法。在体内，信使RNA（mRNA）根据来自RNA的信号编码我们需要的蛋白质。有时mRNA会交叉信号，编码有缺陷的蛋白质。这会导致疾病。</blockquote></p><p> Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p><p><blockquote>Alnylam开发了一种调整RNAi途径的方法，以沉默有缺陷的信号并阻止致病蛋白质的产生。到目前为止，Alnylam已经有四种获得批准的基于RNAi的药物，用于治疗罕见的遗传性疾病。该公司还有十几种其他疗法处于临床研究中，其中六种处于后期开发阶段。</blockquote></p><p> “This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p><p><blockquote>“这是一个全新的治疗领域，”拉姆说。“它是一个可以治疗多种疾病的产品平台。”</blockquote></p><p> <b>5. Hold stocks for the long term</b></p><p><blockquote><b>5.长期持有股票</b></blockquote></p><p> All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p><p><blockquote>上述所有名字都是拉姆基金中的大量头寸，这告诉我拉姆和她的团队认为他们有更大的上涨空间。不过，如果您购买其中任何一款，请记住您必须在多年的时间范围内购买。拉姆的基金就是这么做的。它的年投资组合周转率较低，为27%。有长远的眼光很重要，因为看涨期权股市或股票的短期走势非常困难，你需要给公司发展的时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">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":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":943,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806466972,"gmtCreate":1627689616696,"gmtModify":1631889858063,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/806466972","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":133475406,"gmtCreate":1621804332305,"gmtModify":1634186560145,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment 🙏","listText":"Like and comment 🙏","text":"Like and comment 🙏","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":7,"commentSize":12,"repostSize":0,"link":"https://laohu8.com/post/133475406","repostId":"2137906121","repostType":4,"isVote":1,"tweetType":1,"viewCount":644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194699072,"gmtCreate":1621372212696,"gmtModify":1634192142334,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Please like and comment. 🙏","listText":"Please like and comment. 🙏","text":"Please like and comment. 🙏","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":6,"commentSize":11,"repostSize":0,"link":"https://laohu8.com/post/194699072","repostId":"2135161248","repostType":4,"repost":{"id":"2135161248","kind":"news","pubTimestamp":1621343169,"share":"https://www.laohu8.com/m/news/2135161248?lang=zh_CN&edition=full","pubTime":"2021-05-18 21:06","market":"us","language":"en","title":"JD.com to Report Q1 Earnings: What's in the Cards?<blockquote>京东将报告第一季度收益：前景如何？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2135161248","media":"Zacks","summary":"JD.com, Inc. is scheduled to report first-quarter 2021 results on May 19.\nFor the first quarter, the","content":"<p><b>JD.com, Inc.</b>&nbsp;is scheduled to report first-quarter 2021 results on May 19.</p><p><blockquote><b>京东公司。</b>计划于5月19日公布2021年第一季度业绩。</blockquote></p><p> For the first quarter, the Zacks Consensus Estimate for revenues is pegged at $29.9 billion, indicating an improvement of 44.9% from the year-ago reported figure.</p><p><blockquote>对于第一季度，Zacks对收入的一致预期为299亿美元，比去年同期报告的数字提高了44.9%。</blockquote></p><p> Further, the consensus mark for earnings is pegged at 39 cents per share, indicating a 39.3% rise from the previous-year reported figure.</p><p><blockquote>此外，盈利共识为每股39美分，比上一年报告的数字增长39.3%。</blockquote></p><p> Notably, the company delivered an earnings surprise of 4.6% in the last reported quarter.</p><p><blockquote>值得注意的是，该公司在上一季度的盈利意外增长了4.6%。</blockquote></p><p> <b>JD.com, Inc. Price and EPS Surprise</b></p><p><blockquote><b>京东公司。价格和每股收益惊喜</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c1fed1c36f6a8ce20878c0d2e594f77c\" tg-width=\"534\" tg-height=\"262\"><span>JD.com, Inc. price-eps-surprise | JD.com, Inc. Quote</span></p><p><blockquote><p class=\"t-img-caption\"><span>京东公司价格-每股收益-惊喜|京东公司报价</span></p></blockquote></p><p> <b>Key Factors to Note</b></p><p><blockquote><b>需要注意的关键因素</b></blockquote></p><p> The company’s JD Retail segment, comprising the e-commerce business, is expected to have been the key catalyst in the first quarter.</p><p><blockquote>该公司的京东零售部门（包括电子商务业务）预计将成为第一季度的关键催化剂。</blockquote></p><p> The launch of flagship stores of popular fashion and luxury brands like John Lobb, Stefano Ricci, Vivienne Westwoodon and Anya Hindmarch, among others, on JD.com is likely to have driven customer momentum, which in turn is expected to have aided the performance of JD Retail during the quarter-to-be-reported.</p><p><blockquote>John Lobb、Stefano Ricci、Vivienne Westwoodon和Anya Hindmarch等流行时尚和奢侈品牌在京东上开设旗舰店可能会推动客户势头，预计这反过来将有助于京东零售在待报告季度的表现。</blockquote></p><p> JD retail’s omni-channel initiatives are anticipated to have contributed well to top-line growth of the segment in the first quarter.</p><p><blockquote>京东零售的全渠道举措预计将为该细分市场第一季度的营收增长做出良好贡献。</blockquote></p><p> Moreover, the company’s collaboration with Italian luxury brands Prada and MiuMiu, which bolstered its omni-channel efforts, might have been a positive.</p><p><blockquote>此外，该公司与意大利奢侈品牌Prada和MiuMiu的合作可能是积极的，这加强了其全渠道努力。</blockquote></p><p> Furthermore, growing momentum of JD health that offers free online medical consultation and online pharmacy retail services is likely to get reflected in the company’s to-be-reported quarter’s results.</p><p><blockquote>此外，京东健康提供免费在线医疗咨询和在线药店零售服务的增长势头可能会反映在该公司即将报告的季度业绩中。</blockquote></p><p> Growing investments in research and development are also likely to have been encouraging for the company in the quarter under review.</p><p><blockquote>在本季度，不断增长的研发投资也可能对该公司来说令人鼓舞。</blockquote></p><p> Additionally, the new businesses segment comprising technology, supply chain and logistics services is expected to have helped it in gaining traction across lower-tier cities in the first quarter.</p><p><blockquote>此外，由技术、供应链和物流服务组成的新业务部门预计将帮助其在第一季度在低线城市获得牵引力。</blockquote></p><p> Moreover, the well-performing Jingxi Business Group is expected to have aided JD.com’s performance in the lower-tier cities.</p><p><blockquote>此外，表现良好的京西业务集团预计将有助于京东在低线城市的表现。</blockquote></p><p> However, increasing fulfilment, marketing, and research and development expenses are likely to have been major risks to the company’s profitability in the quarter under review.</p><p><blockquote>然而，履行、营销和研发费用的增加可能是公司本季度盈利能力的主要风险。</blockquote></p><p> Moreover, increasing competitive pressure from Alibaba in the e-commerce market might be reflected in first-quarter results.</p><p><blockquote>此外，阿里巴巴-SW在电子商务市场日益增长的竞争压力可能会反映在第一季度的业绩中。</blockquote></p><p> <b>What Our Model Says</b></p><p><blockquote><b>我们的模型所说的</b></blockquote></p><p> Our proven model does not conclusively predict an earnings beat for JD.com this time around. The combination of a positiveEarnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.</p><p><blockquote>我们经过验证的模型并没有最终预测京东这次的盈利会超出预期。正收益ESP和咤克斯排名#1（强力买入）、2（买入）或3（持有）的组合增加了收益超出预期的可能性。但这里的情况并非如此。您可以在使用我们的收益ESP过滤器报告之前发现最值得买入或卖出的股票。</blockquote></p><p> JD.com has an Earnings ESP of -14.83% and a Zacks Rank #5 (Strong Sell), at present.</p><p><blockquote>目前，京东的收益ESP为-14.83%，咤克斯排名第五（强力卖出）。</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>JD.com to Report Q1 Earnings: What's in the Cards?<blockquote>京东将报告第一季度收益：前景如何？</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\">\nJD.com to Report Q1 Earnings: What's in the Cards?<blockquote>京东将报告第一季度收益：前景如何？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Zacks</strong><span class=\"h-time small\">2021-05-18 21:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>JD.com, Inc.</b>&nbsp;is scheduled to report first-quarter 2021 results on May 19.</p><p><blockquote><b>京东公司。</b>计划于5月19日公布2021年第一季度业绩。</blockquote></p><p> For the first quarter, the Zacks Consensus Estimate for revenues is pegged at $29.9 billion, indicating an improvement of 44.9% from the year-ago reported figure.</p><p><blockquote>对于第一季度，Zacks对收入的一致预期为299亿美元，比去年同期报告的数字提高了44.9%。</blockquote></p><p> Further, the consensus mark for earnings is pegged at 39 cents per share, indicating a 39.3% rise from the previous-year reported figure.</p><p><blockquote>此外，盈利共识为每股39美分，比上一年报告的数字增长39.3%。</blockquote></p><p> Notably, the company delivered an earnings surprise of 4.6% in the last reported quarter.</p><p><blockquote>值得注意的是，该公司在上一季度的盈利意外增长了4.6%。</blockquote></p><p> <b>JD.com, Inc. Price and EPS Surprise</b></p><p><blockquote><b>京东公司。价格和每股收益惊喜</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c1fed1c36f6a8ce20878c0d2e594f77c\" tg-width=\"534\" tg-height=\"262\"><span>JD.com, Inc. price-eps-surprise | JD.com, Inc. Quote</span></p><p><blockquote><p class=\"t-img-caption\"><span>京东公司价格-每股收益-惊喜|京东公司报价</span></p></blockquote></p><p> <b>Key Factors to Note</b></p><p><blockquote><b>需要注意的关键因素</b></blockquote></p><p> The company’s JD Retail segment, comprising the e-commerce business, is expected to have been the key catalyst in the first quarter.</p><p><blockquote>该公司的京东零售部门（包括电子商务业务）预计将成为第一季度的关键催化剂。</blockquote></p><p> The launch of flagship stores of popular fashion and luxury brands like John Lobb, Stefano Ricci, Vivienne Westwoodon and Anya Hindmarch, among others, on JD.com is likely to have driven customer momentum, which in turn is expected to have aided the performance of JD Retail during the quarter-to-be-reported.</p><p><blockquote>John Lobb、Stefano Ricci、Vivienne Westwoodon和Anya Hindmarch等流行时尚和奢侈品牌在京东上开设旗舰店可能会推动客户势头，预计这反过来将有助于京东零售在待报告季度的表现。</blockquote></p><p> JD retail’s omni-channel initiatives are anticipated to have contributed well to top-line growth of the segment in the first quarter.</p><p><blockquote>京东零售的全渠道举措预计将为该细分市场第一季度的营收增长做出良好贡献。</blockquote></p><p> Moreover, the company’s collaboration with Italian luxury brands Prada and MiuMiu, which bolstered its omni-channel efforts, might have been a positive.</p><p><blockquote>此外，该公司与意大利奢侈品牌Prada和MiuMiu的合作可能是积极的，这加强了其全渠道努力。</blockquote></p><p> Furthermore, growing momentum of JD health that offers free online medical consultation and online pharmacy retail services is likely to get reflected in the company’s to-be-reported quarter’s results.</p><p><blockquote>此外，京东健康提供免费在线医疗咨询和在线药店零售服务的增长势头可能会反映在该公司即将报告的季度业绩中。</blockquote></p><p> Growing investments in research and development are also likely to have been encouraging for the company in the quarter under review.</p><p><blockquote>在本季度，不断增长的研发投资也可能对该公司来说令人鼓舞。</blockquote></p><p> Additionally, the new businesses segment comprising technology, supply chain and logistics services is expected to have helped it in gaining traction across lower-tier cities in the first quarter.</p><p><blockquote>此外，由技术、供应链和物流服务组成的新业务部门预计将帮助其在第一季度在低线城市获得牵引力。</blockquote></p><p> Moreover, the well-performing Jingxi Business Group is expected to have aided JD.com’s performance in the lower-tier cities.</p><p><blockquote>此外，表现良好的京西业务集团预计将有助于京东在低线城市的表现。</blockquote></p><p> However, increasing fulfilment, marketing, and research and development expenses are likely to have been major risks to the company’s profitability in the quarter under review.</p><p><blockquote>然而，履行、营销和研发费用的增加可能是公司本季度盈利能力的主要风险。</blockquote></p><p> Moreover, increasing competitive pressure from Alibaba in the e-commerce market might be reflected in first-quarter results.</p><p><blockquote>此外，阿里巴巴-SW在电子商务市场日益增长的竞争压力可能会反映在第一季度的业绩中。</blockquote></p><p> <b>What Our Model Says</b></p><p><blockquote><b>我们的模型所说的</b></blockquote></p><p> Our proven model does not conclusively predict an earnings beat for JD.com this time around. The combination of a positiveEarnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.</p><p><blockquote>我们经过验证的模型并没有最终预测京东这次的盈利会超出预期。正收益ESP和咤克斯排名#1（强力买入）、2（买入）或3（持有）的组合增加了收益超出预期的可能性。但这里的情况并非如此。您可以在使用我们的收益ESP过滤器报告之前发现最值得买入或卖出的股票。</blockquote></p><p> JD.com has an Earnings ESP of -14.83% and a Zacks Rank #5 (Strong Sell), at present.</p><p><blockquote>目前，京东的收益ESP为-14.83%，咤克斯排名第五（强力卖出）。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zacks.com/stock/news/1541348/jdcom-jd-to-report-q1-earnings-whats-in-the-cards?art_rec=quote-stock_overview-zacks_news-ID02-txt-1541348\">Zacks</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":{"JD":"京东","09618":"京东集团-SW"},"source_url":"https://www.zacks.com/stock/news/1541348/jdcom-jd-to-report-q1-earnings-whats-in-the-cards?art_rec=quote-stock_overview-zacks_news-ID02-txt-1541348","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135161248","content_text":"JD.com, Inc. is scheduled to report first-quarter 2021 results on May 19.\nFor the first quarter, the Zacks Consensus Estimate for revenues is pegged at $29.9 billion, indicating an improvement of 44.9% from the year-ago reported figure.\nFurther, the consensus mark for earnings is pegged at 39 cents per share, indicating a 39.3% rise from the previous-year reported figure.\nNotably, the company delivered an earnings surprise of 4.6% in the last reported quarter.\nJD.com, Inc. Price and EPS Surprise\nJD.com, Inc. price-eps-surprise | JD.com, Inc. Quote\nKey Factors to Note\nThe company’s JD Retail segment, comprising the e-commerce business, is expected to have been the key catalyst in the first quarter.\nThe launch of flagship stores of popular fashion and luxury brands like John Lobb, Stefano Ricci, Vivienne Westwoodon and Anya Hindmarch, among others, on JD.com is likely to have driven customer momentum, which in turn is expected to have aided the performance of JD Retail during the quarter-to-be-reported.\nJD retail’s omni-channel initiatives are anticipated to have contributed well to top-line growth of the segment in the first quarter.\nMoreover, the company’s collaboration with Italian luxury brands Prada and MiuMiu, which bolstered its omni-channel efforts, might have been a positive.\nFurthermore, growing momentum of JD health that offers free online medical consultation and online pharmacy retail services is likely to get reflected in the company’s to-be-reported quarter’s results.\nGrowing investments in research and development are also likely to have been encouraging for the company in the quarter under review.\nAdditionally, the new businesses segment comprising technology, supply chain and logistics services is expected to have helped it in gaining traction across lower-tier cities in the first quarter.\nMoreover, the well-performing Jingxi Business Group is expected to have aided JD.com’s performance in the lower-tier cities.\nHowever, increasing fulfilment, marketing, and research and development expenses are likely to have been major risks to the company’s profitability in the quarter under review.\nMoreover, increasing competitive pressure from Alibaba in the e-commerce market might be reflected in first-quarter results.\nWhat Our Model Says\nOur proven model does not conclusively predict an earnings beat for JD.com this time around. The combination of a positiveEarnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.\nJD.com has an Earnings ESP of -14.83% and a Zacks Rank #5 (Strong Sell), at present.","news_type":1,"symbols_score_info":{"JD":0.9,"09618":0.9}},"isVote":1,"tweetType":1,"viewCount":631,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197605516,"gmtCreate":1621458601535,"gmtModify":1634189079737,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Please like and comment.","listText":"Please like and comment.","text":"Please like and comment.","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":7,"commentSize":9,"repostSize":0,"link":"https://laohu8.com/post/197605516","repostId":"1103552481","repostType":4,"repost":{"id":"1103552481","kind":"news","pubTimestamp":1621428667,"share":"https://www.laohu8.com/m/news/1103552481?lang=zh_CN&edition=full","pubTime":"2021-05-19 20:51","market":"us","language":"en","title":"3 Things to Watch for in the Fed Minutes Today<blockquote>今日美联储会议纪要中值得关注的3件事</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103552481","media":"Barrons","summary":"The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but inv","content":"<p>The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.</p><p><blockquote>美联储最新的会议纪要预计今天不会引起太大轰动，但投资者仍应关注一些不同的主题。</blockquote></p><p> The minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:&nbsp; A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a&nbsp;surprisingly weak jobs report&nbsp;and a&nbsp;stronger-than-expected consumer inflation report, for example.</p><p><blockquote>会议纪要将于今天下午2点公布，美联储观察人士在解读其意义时可能会面临比平时更大的挑战：自4月28日至29日的会议以来，经济发生了很大变化。例如，接下来的几周带来了令人惊讶的疲软就业报告和强于预期的消费者通胀报告。</blockquote></p><p> And unlike&nbsp;last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April.&nbsp;The 10-year yield has&nbsp;dropped to 1.64%&nbsp;from 1.74% on March 31.</p><p><blockquote>与上个月的会议不同，美国国债并没有出现引人注目的抛售来引起官员的注意。尽管经济数据显示4月份价格压力更大，但收益率的急剧攀升在3月底有所减弱。10年期国债收益率已从3月31日的1.74%降至1.64%。</blockquote></p><p> Yet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.</p><p><blockquote>然而，这份文件仍可能为央行的观点提供一些线索。自上次会议以来，官员们也提供了更多关于政策的观点。值得注意的是，美联储副主席理查德·克拉里达在周一的一次会议上发表讲话，并讨论了最近的一些经济数据点。</blockquote></p><p> Here’s what strategists expect out of the meeting today, and what Clarida said about the topics:</p><p><blockquote>以下是策略师对今天会议的预期，以及克拉里达对这些主题的看法：</blockquote></p><p> <b>“Attuned and Attentive” to “Transitory” Inflation?</b></p><p><blockquote><b>“适应并关注”“暂时性”通货膨胀？</b></blockquote></p><p> One popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.</p><p><blockquote>包括美联储主席杰罗姆·鲍威尔（Jerome Powell）在内的美联储官员的一个流行观点是，今年春天预计将带来通胀“暂时”上升，这主要与去年疫情导致经济活动急剧减速后美国经济重新开放有关。</blockquote></p><p> Mizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.</p><p><blockquote>瑞穗经济学家Steven Ricchiuto和Alex Pelle在5月18日的一份报告中写道，他们预计会议纪要中“多次提到‘暂时’价格压力”。他们还强调，4月份消费者价格涨幅最大的许多行业都是需求受疫情打击最严重的行业，例如酒店和机票。“到目前为止，这证实了美联储的想法，”他们补充道。</blockquote></p><p> Yet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:&nbsp; That the central bank would be “attuned and attentive” to any data showing higher price pressures.</p><p><blockquote>然而，在周一的会议上，克拉里达似乎在重复一种关于通胀的不同类型的保证：央行将“协调并关注”任何显示价格压力上升的数据。</blockquote></p><p> “In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”</p><p><blockquote>“在CPI报告中，[重新开放]确实明显给价格带来了上行压力。现在我们的基线观点是，其中大部分可能是暂时的，但我们必须适应并关注即将到来的数据，”他说。“我们任务的关键要素是价格稳定，而价格稳定的一个重要组成部分是稳定的通胀预期。如果我们看到价格或通胀面临上行压力，有可能推高通胀预期，我毫不怀疑我们会使用我们的工具来解决这种情况。”</blockquote></p><p> <b>Taper Timeline</b></p><p><blockquote><b>锥形时间表</b></blockquote></p><p> Investors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.</p><p><blockquote>投资者还将关注央行是否就何时开始削减每月1200亿美元的债券购买量提供任何额外指导。鲍威尔曾表示，美联储希望在削减购买之前，在实现充分就业和长期平均通胀率2%的目标方面取得“实质性的进一步进展”，但官员们没有提供太多额外指导。</blockquote></p><p> Most on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases&nbsp;late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.</p><p><blockquote>华尔街大多数人预计，美联储将在今年夏末或秋季讨论减少或缩减购买规模的长期计划。NatWest Markets在周一的一份报告中表示，预计美联储将在9月份开始谈论缩减购债规模，并在明年实际上开始放缓购债步伐。</blockquote></p><p> So any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.</p><p><blockquote>因此，最新会议纪要中任何更详细的讨论都可能令投资者感到意外，并可能对市场产生影响。</blockquote></p><p> <b>Labor-Market Outlook</b></p><p><blockquote><b>劳工市场展望</b></blockquote></p><p> One key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.</p><p><blockquote>决定美联储债券购买（和其他宽松政策）前景的一个关键因素是劳动力市场的复苏。在令人失望的四月份就业报告之后，这一问题仍然悬而未决。</blockquote></p><p> Still, there is a chance investors could find more context on one of their questions in the minutes:&nbsp; How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?</p><p><blockquote>尽管如此，投资者仍有可能在会议纪要中找到有关他们的一个问题的更多背景：多少改善足以让美联储开始撤回宽松政策？换句话说，“实质性的进一步进展”是什么意思？</blockquote></p><p> Before the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.</p><p><blockquote>在4月份劳动力市场令人失望的消息传出之前，华尔街大多数人预计本月将创造就业机会强劲，这是鲍威尔曾表示，在美国实现“实质性的进一步进展”之前，需要实现“一系列”强劲复苏的又一步。美联储的目标。这可能促使官员们讨论复苏需要走多远，央行才能开始退出。</blockquote></p><p> Clarida discussed the April employment report on Monday as well.</p><p><blockquote>克拉里达周一还讨论了4月份的就业报告。</blockquote></p><p></p><p> “What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”</p><p><blockquote>“四月份就业报告告诉我的是，我们使劳动力市场，特别是服务业供需平衡的方式可能需要一些时间，并且随着工人重返就业，可能会对价格产生一些上行压力，因此我们必须适应并关注数据流，”他说。“根据四月份就业报告，我们没有取得实质性的进一步进展，但随着数据的出现，我们作为一个委员会将不得不对其进行评估，并最终做出判断。”</blockquote></p><p> Ultimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:&nbsp; Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the&nbsp;economic data has been so volatile&nbsp;during the reopening that the picture could change significantly by the time the Fed meets again in June.</p><p><blockquote>最终，未来劳动力市场数据的重要性暗示了美联储会议纪要的更广泛结论：未来几个月的经济数据可能是美联储行动及其取消市场和经济宽松计划的最终仲裁者。在重新开放期间，经济数据波动如此之大，以至于到美联储6月份再次开会时，情况可能会发生重大变化。</blockquote></p><p> That means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.</p><p><blockquote>这意味着投资者将不得不再持有一段时间才能了解央行计划何时开始退出。</blockquote></p><p> “We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”</p><p><blockquote>BMO策略师Ian Lyngen写道：“我们不愿意将这种均衡视为任何形式的均衡，相反，随着宏观预期的进一步细化，它更有可能被证明是一种暂时的持有模式。”“显然，我们的问题多于答案。”</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>3 Things to Watch for in the Fed Minutes Today<blockquote>今日美联储会议纪要中值得关注的3件事</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 Things to Watch for in the Fed Minutes Today<blockquote>今日美联储会议纪要中值得关注的3件事</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-19 20:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.</p><p><blockquote>美联储最新的会议纪要预计今天不会引起太大轰动，但投资者仍应关注一些不同的主题。</blockquote></p><p> The minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:&nbsp; A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a&nbsp;surprisingly weak jobs report&nbsp;and a&nbsp;stronger-than-expected consumer inflation report, for example.</p><p><blockquote>会议纪要将于今天下午2点公布，美联储观察人士在解读其意义时可能会面临比平时更大的挑战：自4月28日至29日的会议以来，经济发生了很大变化。例如，接下来的几周带来了令人惊讶的疲软就业报告和强于预期的消费者通胀报告。</blockquote></p><p> And unlike&nbsp;last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April.&nbsp;The 10-year yield has&nbsp;dropped to 1.64%&nbsp;from 1.74% on March 31.</p><p><blockquote>与上个月的会议不同，美国国债并没有出现引人注目的抛售来引起官员的注意。尽管经济数据显示4月份价格压力更大，但收益率的急剧攀升在3月底有所减弱。10年期国债收益率已从3月31日的1.74%降至1.64%。</blockquote></p><p> Yet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.</p><p><blockquote>然而，这份文件仍可能为央行的观点提供一些线索。自上次会议以来，官员们也提供了更多关于政策的观点。值得注意的是，美联储副主席理查德·克拉里达在周一的一次会议上发表讲话，并讨论了最近的一些经济数据点。</blockquote></p><p> Here’s what strategists expect out of the meeting today, and what Clarida said about the topics:</p><p><blockquote>以下是策略师对今天会议的预期，以及克拉里达对这些主题的看法：</blockquote></p><p> <b>“Attuned and Attentive” to “Transitory” Inflation?</b></p><p><blockquote><b>“适应并关注”“暂时性”通货膨胀？</b></blockquote></p><p> One popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.</p><p><blockquote>包括美联储主席杰罗姆·鲍威尔（Jerome Powell）在内的美联储官员的一个流行观点是，今年春天预计将带来通胀“暂时”上升，这主要与去年疫情导致经济活动急剧减速后美国经济重新开放有关。</blockquote></p><p> Mizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.</p><p><blockquote>瑞穗经济学家Steven Ricchiuto和Alex Pelle在5月18日的一份报告中写道，他们预计会议纪要中“多次提到‘暂时’价格压力”。他们还强调，4月份消费者价格涨幅最大的许多行业都是需求受疫情打击最严重的行业，例如酒店和机票。“到目前为止，这证实了美联储的想法，”他们补充道。</blockquote></p><p> Yet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:&nbsp; That the central bank would be “attuned and attentive” to any data showing higher price pressures.</p><p><blockquote>然而，在周一的会议上，克拉里达似乎在重复一种关于通胀的不同类型的保证：央行将“协调并关注”任何显示价格压力上升的数据。</blockquote></p><p> “In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”</p><p><blockquote>“在CPI报告中，[重新开放]确实明显给价格带来了上行压力。现在我们的基线观点是，其中大部分可能是暂时的，但我们必须适应并关注即将到来的数据，”他说。“我们任务的关键要素是价格稳定，而价格稳定的一个重要组成部分是稳定的通胀预期。如果我们看到价格或通胀面临上行压力，有可能推高通胀预期，我毫不怀疑我们会使用我们的工具来解决这种情况。”</blockquote></p><p> <b>Taper Timeline</b></p><p><blockquote><b>锥形时间表</b></blockquote></p><p> Investors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.</p><p><blockquote>投资者还将关注央行是否就何时开始削减每月1200亿美元的债券购买量提供任何额外指导。鲍威尔曾表示，美联储希望在削减购买之前，在实现充分就业和长期平均通胀率2%的目标方面取得“实质性的进一步进展”，但官员们没有提供太多额外指导。</blockquote></p><p> Most on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases&nbsp;late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.</p><p><blockquote>华尔街大多数人预计，美联储将在今年夏末或秋季讨论减少或缩减购买规模的长期计划。NatWest Markets在周一的一份报告中表示，预计美联储将在9月份开始谈论缩减购债规模，并在明年实际上开始放缓购债步伐。</blockquote></p><p> So any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.</p><p><blockquote>因此，最新会议纪要中任何更详细的讨论都可能令投资者感到意外，并可能对市场产生影响。</blockquote></p><p> <b>Labor-Market Outlook</b></p><p><blockquote><b>劳工市场展望</b></blockquote></p><p> One key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.</p><p><blockquote>决定美联储债券购买（和其他宽松政策）前景的一个关键因素是劳动力市场的复苏。在令人失望的四月份就业报告之后，这一问题仍然悬而未决。</blockquote></p><p> Still, there is a chance investors could find more context on one of their questions in the minutes:&nbsp; How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?</p><p><blockquote>尽管如此，投资者仍有可能在会议纪要中找到有关他们的一个问题的更多背景：多少改善足以让美联储开始撤回宽松政策？换句话说，“实质性的进一步进展”是什么意思？</blockquote></p><p> Before the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.</p><p><blockquote>在4月份劳动力市场令人失望的消息传出之前，华尔街大多数人预计本月将创造就业机会强劲，这是鲍威尔曾表示，在美国实现“实质性的进一步进展”之前，需要实现“一系列”强劲复苏的又一步。美联储的目标。这可能促使官员们讨论复苏需要走多远，央行才能开始退出。</blockquote></p><p> Clarida discussed the April employment report on Monday as well.</p><p><blockquote>克拉里达周一还讨论了4月份的就业报告。</blockquote></p><p></p><p> “What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”</p><p><blockquote>“四月份就业报告告诉我的是，我们使劳动力市场，特别是服务业供需平衡的方式可能需要一些时间，并且随着工人重返就业，可能会对价格产生一些上行压力，因此我们必须适应并关注数据流，”他说。“根据四月份就业报告，我们没有取得实质性的进一步进展，但随着数据的出现，我们作为一个委员会将不得不对其进行评估，并最终做出判断。”</blockquote></p><p> Ultimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:&nbsp; Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the&nbsp;economic data has been so volatile&nbsp;during the reopening that the picture could change significantly by the time the Fed meets again in June.</p><p><blockquote>最终，未来劳动力市场数据的重要性暗示了美联储会议纪要的更广泛结论：未来几个月的经济数据可能是美联储行动及其取消市场和经济宽松计划的最终仲裁者。在重新开放期间，经济数据波动如此之大，以至于到美联储6月份再次开会时，情况可能会发生重大变化。</blockquote></p><p> That means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.</p><p><blockquote>这意味着投资者将不得不再持有一段时间才能了解央行计划何时开始退出。</blockquote></p><p> “We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”</p><p><blockquote>BMO策略师Ian Lyngen写道：“我们不愿意将这种均衡视为任何形式的均衡，相反，随着宏观预期的进一步细化，它更有可能被证明是一种暂时的持有模式。”“显然，我们的问题多于答案。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/inflation-jobs-and-more-to-watch-for-in-todays-fed-minutes-release-51621421812?mod=hp_LEAD_3\">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":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/inflation-jobs-and-more-to-watch-for-in-todays-fed-minutes-release-51621421812?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103552481","content_text":"The Federal Reserve’s latest meeting minutes aren’t expected to make much of a splash today, but investors should still keep an eye out for a few different themes.\nThe minutes are due out at 2 p.m. today, and Fed watchers may face a greater challenge than usual in deciphering their significance:  A lot has changed in the economy since the April 28-29 meeting. The ensuing weeks have brought a surprisingly weak jobs report and a stronger-than-expected consumer inflation report, for example.\nAnd unlike last month’s meeting, there wasn’t an attention-grabbing selloff in Treasuries to command officials’ attention. The steep climb in yields abated at the end of March, even as economic data showed and stronger price pressures in April. The 10-year yield has dropped to 1.64% from 1.74% on March 31.\nYet the document may still provide some clues about the central bank’s views. And officials have provided more perspective on policy since the latest meeting as well. Notably, Fed Vice Chair Richard Clarida spoke at a conference on Monday and discussed some recent economic data points as well.\nHere’s what strategists expect out of the meeting today, and what Clarida said about the topics:\n“Attuned and Attentive” to “Transitory” Inflation?\nOne popular line among Fed officials, including Fed Chair Jerome Powell, has been the assurance that this spring is expected to bring a “transitory” rise in inflation, mostly related to the reopening of the U.S. economy after the pandemic brought a sharp deceleration in activity last year.\nMizuho economists Steven Ricchiuto and Alex Pelle wrote in a May 18 note that they expect “several mentions of ‘transitory’ price pressures” in the minutes. They also highlighted that many of the steepest increases in consumer prices in April were in sectors where demand had been hit most by the pandemic, such as hotels and airfares. “So far [that] validates the Fed’s thinking,” they added.\nYet at Monday’s conference, Clarida seemed to be repeating a different type of assurance about inflation:  That the central bank would be “attuned and attentive” to any data showing higher price pressures.\n“In the CPI report, [reopening] did clearly put upward pressure on prices. Now our baseline view is that most of this is likely to be transitory, but we have to be attuned and attentive to the incoming data,” he said. “[The] key element of our mandate is price stability and an important component of price stability is well-anchored inflation expectations. If we were to see upward pressure on prices or inflation that threatened to put inflation expectations higher, I have no doubt we would use our tools to address that situation.”\nTaper Timeline\nInvestors will also be looking to see if the central bank provides any additional guidance on when it might start paring back its $120 billion in monthly bond purchases. Powell has said the Fed wants to make “substantial further progress” toward its goals of full employment and a long-term average of 2% inflation before it wants to pare down its purchases, but officials haven’t provided much additional guidance.\nMost on Wall Street expect the Fed to discuss longer-term plans to reduce, or taper, its purchases late this summer or during the fall. NatWest Markets said in a Monday note that it expects the Fed to start talking about tapering its purchases in September and actually start to reduce the pace of bond-buying next year.\nSo any more detailed discussion in the latest meeting minutes could come as a surprise to investors and potentially matter for markets.\nLabor-Market Outlook\nOne key factor that will determine the outlook for the Fed’s bond buying (and other accommodation) is the recovery in the labor market. And that remains up in the air, after the disappointing April jobs report.\nStill, there is a chance investors could find more context on one of their questions in the minutes:  How much improvement will be enough for the Fed to start withdrawing accommodation? In other words, what does “substantial further progress” mean?\nBefore the disappointing news on April’s labor market, most of Wall Street expected a strong month for jobs creation, another step toward the “string” of strong months of recovery that Powell had said was needed before the U.S. achieved “substantial further progress” toward the Fed’s goals. That may have prompted officials to discuss just how far along the recovery would need to go before the central bank could start stepping back.\nClarida discussed the April employment report on Monday as well.\n“What the April employment report said to me is that the way we bring supply and demand into balance in the labor market, especially in the service sector, may take some time and may produce some upward pressure on prices as workers return to employment, so we have to be attuned and attentive to that data flow,” he said. “Per that April employment report, we have not made substantial further progress, but as the data comes in we as a committee will have to evaluate that, and ultimately make a judgment.”\nUltimately, the importance of future labor-market data hints at the broader takeaway from the Fed’s meeting minutes:  Coming months’ economic data may be the final arbiter of what the Fed does, and its plans to remove accommodation from markets and the economy. And the economic data has been so volatile during the reopening that the picture could change significantly by the time the Fed meets again in June.\nThat means investors will have to hold tight for a while longer to get a sense of when the central bank plans to start stepping back.\n“We’re reluctant to call this an equilibrium of any sort – rather it’s much more likely to prove a temporary holding pattern as macro expectations are further refined,” wrote Ian Lyngen, strategist with BMO. “Clearly, we have more questions than answers.”","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":592,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110463962,"gmtCreate":1622495920756,"gmtModify":1634101177142,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":6,"commentSize":10,"repostSize":0,"link":"https://laohu8.com/post/110463962","repostId":"1113386303","repostType":4,"isVote":1,"tweetType":1,"viewCount":643,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153998559,"gmtCreate":1625001624771,"gmtModify":1633946102452,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/153998559","repostId":"1146217494","repostType":4,"isVote":1,"tweetType":1,"viewCount":564,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133475625,"gmtCreate":1621804226867,"gmtModify":1634186560386,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment. 🙏","listText":"Like and comment. 🙏","text":"Like and comment. 🙏","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":9,"repostSize":0,"link":"https://laohu8.com/post/133475625","repostId":"2137907575","repostType":4,"isVote":1,"tweetType":1,"viewCount":616,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130621031,"gmtCreate":1621544987523,"gmtModify":1634188326486,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Comment and like please. 🙏","listText":"Comment and like please. 🙏","text":"Comment and like please. 🙏","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/130621031","repostId":"1135487235","repostType":4,"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126641185,"gmtCreate":1624570586447,"gmtModify":1634004345234,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment.","listText":"Like and comment.","text":"Like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/126641185","repostId":"1186693886","repostType":2,"isVote":1,"tweetType":1,"viewCount":422,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":865485997,"gmtCreate":1633011063042,"gmtModify":1633011203279,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like pls.","listText":"Like pls.","text":"Like pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/865485997","repostId":"2171930838","repostType":4,"isVote":1,"tweetType":1,"viewCount":3066,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":112998785,"gmtCreate":1622840681047,"gmtModify":1634097559065,"author":{"id":"3572289568077742","authorId":"3572289568077742","name":"ARG","avatar":"https://static.tigerbbs.com/db41c0073f4a2c401b9a536c03569a91","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572289568077742","authorIdStr":"3572289568077742"},"themes":[],"htmlText":"Like and comment please.","listText":"Like and comment please.","text":"Like and comment please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/112998785","repostId":"1154529120","repostType":4,"repost":{"id":"1154529120","kind":"news","pubTimestamp":1622810459,"share":"https://www.laohu8.com/m/news/1154529120?lang=zh_CN&edition=full","pubTime":"2021-06-04 20:40","market":"hk","language":"en","title":"Can Alibaba Stock Hit $500? If You Got Time, Yes<blockquote>阿里巴巴-SW股价能否触及500美元？如果你有时间，是的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154529120","media":"seekingalpha","summary":"Alibaba is a battleground stock where some see a lot of opportunities, while others see many risks.I believe that there are both opportunities and risks, but would see the prior outweighing the latter.In the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.Since its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:. Alibaba Group'","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Alibaba is a battleground stock where some see a lot of opportunities, while others see many risks.</li>  <li>I believe that there are both opportunities and risks, but would see the prior outweighing the latter.</li>  <li>In the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/567d19950e6c8789ce2192b4503f0fa5\" tg-width=\"1536\" tg-height=\"653\" referrerpolicy=\"no-referrer\"><span>Photo by efetova/iStock via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW是一只战场股票，有些人看到了很多机会，而另一些人则看到了很多风险。</li><li>我相信机遇和风险都存在，但我认为前者大于后者。</li><li>从长远来看，阿里巴巴有机会为那些以目前相当低的估值买入的人带来强劲收益。</li></ul><p class=\"t-img-caption\"><span>摄影：efetova/iStock，来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Alibaba Group (BABA) is a leading global high-tech name that continues to generate attractive growth and that offers investors exposure to the high-growth Chinese consumer market. At the same time, through a range of ventures, Alibaba is also active in additional industries, such as cloud computing. Shares have declined considerably over the last couple of months, but I believe that the long-term potential is significant. I would not be surprised to see shares rise towards $500, although that will not happen in the near term.</p><p><blockquote>阿里巴巴-SW集团（BABA）是一家全球领先的高科技公司，持续产生有吸引力的增长，并为投资者提供了接触高增长的中国消费市场的机会。与此同时，通过一系列合资企业，阿里巴巴-SW还活跃在云计算等其他行业。过去几个月股价大幅下跌，但我相信长期潜力巨大。如果股价上涨至500美元，我不会感到惊讶，尽管这不会在短期内发生。</blockquote></p><p> <b>BABA Stock Price</b></p><p><blockquote><b>阿里巴巴股价</b></blockquote></p><p> Since its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:</p><p><blockquote>自IPO以来，阿里巴巴-SW股价强劲上涨，但也应该提到的是，股价在2020年下半年确实出现了小幅上涨，此后大幅下跌：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8079eeb5384ea003fb3725d3cd1e877f\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Shares are now basically where they were one year ago, as the gains during summer 2020 have been erased when Ant Financial's IPO plans were stopped. The flat share price performance over the last year is somewhat surprising, though, as Alibaba continued to generate strong results in that time frame. During the last quarter, for example, Alibaba showcased a&nbsp;revenue growth rate of 64%, while revenue growth during the previous quarter was also very strong, at around 50%. This is not the only positive in Alibaba's earnings releases, however. The company also managed to grow its user count by 32 million during the most recent quarter alone, which equates to an annualized user growth rate of around 20%. This bodes well for future quarters, as more users on Alibaba's platform should translate into higher revenues. On top of that, the strong user growth shows that there is still growing demand for the shopping services that Alibaba's platforms offer -- the market is not saturated at all. Alibaba also managed to grow its EBITDA by 25% year over year, which is an attractive growth pace as well, and which was achieved despite growing investments in what management calls key growth areas. Income from operations, meanwhile, grew at an even faster pace, thanks to some operating leverage, rising by 48% year over year when adjusted for the fine that Alibaba had to pay during Q1. It makes, I believe, sense to back out this one-time item to get a clearer picture about Alibaba's underlying, \"core\" profitability during an average quarter.</p><p><blockquote>由于蚂蚁金服IPO计划被叫停后，2020年夏季的涨幅已被抹去，股价目前基本处于一年前的水平。不过，去年持平的股价表现有些令人惊讶，因为阿里巴巴-SW在此期间继续取得强劲业绩。例如，上一季度，阿里巴巴-SW的收入增长率为64%，而上一季度的收入增长也非常强劲，在50%左右。然而，这并不是阿里巴巴-SW财报中唯一的积极因素。仅在最近一个季度，该公司的用户数量就增加了3200万，相当于用户年化增长率约为20%。这对未来几个季度来说是个好兆头，因为阿里巴巴-SW平台上的更多用户应该会转化为更高的收入。最重要的是，强劲的用户增长表明，对阿里巴巴-SW平台提供的购物服务的需求仍在增长——市场根本没有饱和。阿里巴巴-SW的EBITDA也同比增长了25%，这也是一个有吸引力的增长速度，尽管管理层在评级关键增长领域的投资不断增加，但这一增长还是实现了。与此同时，由于一些运营杠杆，运营收入增长速度更快，经调整阿里巴巴-SW第一季度必须支付的罚款后，同比增长48%。我认为，为了更清楚地了解阿里巴巴-SW平均季度的基本“核心”盈利能力，放弃这一一次性项目是有意义的。</blockquote></p><p> Alibaba Group's weak share price performance, relative to the broad market and other tech names, is thus not the result of weak operating performance, but rather a result of multiple compression, driven by weak investor sentiment due to China exposure and&nbsp;fears about regulation.</p><p><blockquote>因此，相对于大盘和其他科技股，阿里巴巴-SW集团的股价表现疲软，并不是经营业绩疲软的结果，而是多重压缩的结果，原因是投资者情绪疲软以及对监管的担忧。</blockquote></p><p> At its current price of $220, BABA trades at a quite large discount compared to the current consensus analyst price target of $298. If Alibaba were to hit that, shares would gain 35%. Analyst price targets are usually issued with a 1-year time frame, thus, if the analyst community is correct, Alibaba could be a great investment. From a valuation standpoint, this price target doesn't seem outrageous at all, as $298 would equate to around 29x this year's expected net profits, or 23x next year's net earnings. The latter is likely the more telling one when we talk about a price target for summer 2022, i.e. 1 year from now.</p><p><blockquote>以目前220美元的价格计算，与目前分析师298美元的一致目标价相比，阿里巴巴的交易价格有相当大的折扣。如果阿里巴巴-SW达到这一目标，股价将上涨35%。分析师的价格目标通常以1年的时间框架发布，因此，如果分析师界是正确的，阿里巴巴-SW可能是一项伟大的投资。从估值的角度来看，这个目标价似乎一点也不离谱，因为298美元相当于今年预期净利润的29倍左右，或明年净利润的23倍。当我们谈论2022年夏季（即一年后）的价格目标时，后者可能更能说明问题。</blockquote></p><p> <b>Can Alibaba Stock Hit $500?</b></p><p><blockquote><b>阿里巴巴-SW股价能否触及500美元？</b></blockquote></p><p> The answer to that question, I think, depends on your time frame. If you are looking at a 12-month window, then Alibaba will most likely not be able to hit $500. The ~$300 price target seems achievable, although that is, of course, also not guaranteed. If, however, we take a longer-term view, then $500 seems like a share price that BABA could hit eventually. Let's look at a couple of examples.</p><p><blockquote>我认为，这个问题的答案取决于你的时间框架。如果你着眼于12个月的窗口期，那么阿里巴巴-SW很可能无法达到500美元。300美元左右的价格目标似乎是可以实现的，尽管这当然也不能保证。然而，如果我们从更长远的角度来看，那么500美元似乎是阿里巴巴最终可能触及的股价。让我们看几个例子。</blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $20 at some point and traded at an earnings multiple of 25, then shares would trade at $500.</i></p><p><blockquote><i>-如果阿里巴巴-SW在某个时候每股收益为20美元，市盈率为25倍，那么股价将为500美元。</i></blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $25 and traded at a 20x earnings multiple, then shares would trade at $500.</i></p><p><blockquote><i>-如果阿里巴巴-SW的每股收益为25美元，市盈率为20倍，那么股价将为500美元。</i></blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $17 and traded at 29x its net profits, then shares would trade at (marginally below) $500.</i></p><p><blockquote><i>-如果阿里巴巴-SW的每股收益为17美元，交易价格为净利润的29倍，那么股价将为（略低于）500美元。</i></blockquote></p><p></p><p> We see that there are many scenarios that could get us to a $500 share price for BABA, some of them more likely than others. Of course, the higher your target multiple, the lower the earnings that would be required. This, in turn, means that the price target can be hit sooner, as less cumulative earnings growth would be required. When we take a look at how Alibaba was valued in the past, we see that the longer-term median earnings multiples for BABA look like this:</p><p><blockquote>我们看到，有很多情况可以让阿里巴巴的股价达到500美元，其中一些情况比其他情况更有可能。当然，你的目标倍数越高，所需的收益就越低。这反过来意味着可以更快达到价格目标，因为所需的累计盈利增长较少。当我们看一下阿里巴巴-SW过去的估值时，我们会发现阿里巴巴的长期市盈率中位数如下所示：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dd2d42b7094deb394266d6410287c2e4\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> At 30-40x net earnings, Alibaba was clearly trading at a massive premium relative to how shares are valued today (around 20x this year's earnings). I think that the current valuation is too low, but on the other hand, I do not expect Alibaba to trade at 30, 35, or even 40x net profits in coming years. Due to the growing scale of Alibaba, which makes it a little harder to maintain its excellent growth in coming years, shares will likely trade at a lower valuation in coming years, compared to how they were valued in the past.</p><p><blockquote>阿里巴巴-SW的净利润为30-40倍，相对于目前的股价估值（约为今年盈利的20倍），显然存在巨大溢价。我认为目前的估值太低，但另一方面，我预计阿里巴巴-SW未来几年的净利润不会达到30倍、35倍甚至40倍。由于阿里巴巴-SW的规模不断扩大，这使得其在未来几年保持出色的增长变得更加困难，与过去的估值相比，未来几年的股价可能会较低。</blockquote></p><p> I still think that shares do have some valuation expansion potential from the current earnings multiple of around 21, thus let's assume that shares trade at 23x net profits in the future. This would still represent a massive discount versus the historic valuation, and also a substantial discount compared to how US-based high-tech mega-caps are valued -- Amazon (AMZN), for example, trades at 59x this year's earnings.</p><p><blockquote>我仍然认为，从目前21倍左右的市盈率来看，该股确实有一定的估值扩张潜力，因此让我们假设该股未来的净利润为23倍。与历史估值相比，这仍然是一个巨大的折扣，与美国高科技大型股的估值相比也是一个巨大的折扣——例如，亚马逊(AMZN)的交易价格是今年市盈率的59倍。</blockquote></p><p> If we want to get to a $500 share price for BABA using a 23x earnings multiple, then we get to earnings per share of $21.70 that Alibaba must generate. When could this be the case? In the following chart, we see EPS estimates for the current year, next year (CY 2022), and CY 2023:</p><p><blockquote>如果我们想使用23倍的市盈率将阿里巴巴的股价达到500美元，那么阿里巴巴-SW必须产生的每股收益为21.70美元。什么时候会是这种情况？在下图中，我们看到了本年度、明年（2022财年）和2023财年的每股收益预测：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6fcf78e0b071eff9753afbdcd96f751c\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> If analysts are right, Alibaba will not get to earn $22 a share through 2023, and I think that is realistic. I do not see earnings per share rising by 100%+ between this year and 2023, either. From 2023, it would take another 43% increase in Alibaba's earnings per share to get to $21.70, which is our \"target EPS\" for a $500 share price.</p><p><blockquote>如果分析师是对的，阿里巴巴-SW到2023年每股收益将无法达到22美元，我认为这是现实的。我也不认为今年到2023年间每股收益会增长100%以上。从2023年开始，阿里巴巴-SW的每股收益需要再增长43%才能达到21.70美元，这是我们500美元股价的“目标每股收益”。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b4c351b4b5eb3328191ccaa9a3b776c\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Analysts are currently forecasting long-term EPS growth of around 27%, which would mean it would take Alibaba about 1.5 years to grow its EPS from $15.20 (2023 estimate) to our target of $21.70. Even if we assume that this is too optimistic and that growth will be just 20% in 2024 and 2025, EPS of $21.70 could be hit by the end of 2025. So, in other words, if Alibaba grows a little less than what analysts are forecasting right now, Alibaba could trade at $500 by the end of 2025 -- or 4.5 years from now. Note that this scenario does not require a high earnings multiple at all -- at 23x net profits, Alibaba wouldn't be expensive, I believe.</p><p><blockquote>分析师目前预测长期每股收益增长约为27%，这意味着阿里巴巴-SW需要大约1.5年的时间才能将每股收益从15.20美元（2023年估计）增长到我们21.70美元的目标。即使我们假设这过于乐观，2024年和2025年的增长率仅为20%，到2025年底每股收益也可能达到21.70美元。因此，换句话说，如果阿里巴巴-SW的增长略低于分析师目前的预测，那么到2025年底（即4.5年后），阿里巴巴-SW的交易价格可能会达到500美元。请注意，这种情况根本不需要很高的市盈率——我相信，阿里巴巴-SW的净利润为23倍，价格并不昂贵。</blockquote></p><p> We can get even more conservative and assume that the 2023 EPS estimate is 10% too high and that EPS will grow by just 17% a year in the years beyond 2023 (versus a long-term forecast of 27% a year by the analyst community). In that case, Alibaba would hit $21.70 in earnings per share in 2026, and shares would rise to $500 over the next 5.5 years. Even in this scenario, BABA wouldn't be a bad investment at all -- a 130% share price increase from the current level over the next 5.5 years would equate to annualized returns of 16%.</p><p><blockquote>我们可以更加保守地假设2023年每股收益预期过高10%，并且2023年之后的几年每股收益每年仅增长17%（而分析师社区的长期预测为每年27%）。在这种情况下，阿里巴巴-SW的每股收益将在2026年达到21.70美元，股价将在未来5.5年内升至500美元。即使在这种情况下，阿里巴巴也根本不是一项糟糕的投资——未来5.5年内股价较当前水平上涨130%，相当于年化回报率为16%。</blockquote></p><p> So, to sum this section up, I'd say<i>yes, BABA can hit $500</i>-- but it will realistically take a couple of years. By the mid-2020s, this seems like a very achievable goal to me, although there are, of course, no guarantees.</p><p><blockquote>所以，总结一下这一部分，我想说<i>是的，阿里巴巴可以达到500美元</i>——但实际上需要几年时间。到2020年代中期，对我来说，这似乎是一个非常可以实现的目标，尽管当然没有任何保证。</blockquote></p><p> <b>Is Alibaba Stock A Buy Or Sell Now?</b></p><p><blockquote><b>阿里巴巴-SW股票现在是买入还是卖出？</b></blockquote></p><p> Alibaba Group is, I believe, a strong investment. The company generates strong growth, profits from multiple long-term macro trends, such as growing consumer spending in China, growing e-commerce market share, and cloud computing. There are, however, risks to consider: Alibaba is highly China-dependent, and in case the economic growth story in China ends, Alibaba would be hurt a lot. On top of that, Alibaba could be targeted again by regulators, although I personally think that it is not in China's best interest to hurt one of its highest-growth tech companies.</p><p><blockquote>我认为，阿里巴巴-SW集团是一项强有力的投资。该公司增长强劲，利润来自多个长期宏观趋势，例如中国消费者支出的增长、电子商务市场份额的增长和云计算。然而，也有一些风险需要考虑：阿里巴巴-SW高度依赖中国，如果中国的经济增长故事结束，阿里巴巴-SW将受到很大伤害。最重要的是，阿里巴巴-SW可能会再次成为监管机构的目标，尽管我个人认为伤害中国增长最快的科技公司之一不符合中国的最佳利益。</blockquote></p><p></p><p> For those that worry about these risks, Alibaba may not be the right choice, but for those that see Alibaba as a potentially very rewarding play on Chinese consumers, BABA could be a strong pick in a diversified portfolio. I belong to the latter group and thus rate the stock a buy at current valuations, expecting significant upside over the coming years. Depending on your risk tolerance and how you weigh the opportunities and threats of investing in Chinese companies, you may decide differently, however.</p><p><blockquote>对于那些担心这些风险的人来说，阿里巴巴-SW可能不是正确的选择，但对于那些认为阿里巴巴-SW对中国消费者来说可能非常有益的投资的人来说，阿里巴巴可能是多元化投资组合中的一个强有力的选择。我属于后一类，因此按当前估值将该股评级为买入，预计未来几年将大幅上涨。然而，根据您的风险承受能力以及您如何权衡投资中国公司的机会和威胁，您可能会做出不同的决定。</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 Alibaba Stock Hit $500? If You Got Time, Yes<blockquote>阿里巴巴-SW股价能否触及500美元？如果你有时间，是的</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 Alibaba Stock Hit $500? If You Got Time, Yes<blockquote>阿里巴巴-SW股价能否触及500美元？如果你有时间，是的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-04 20:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Alibaba is a battleground stock where some see a lot of opportunities, while others see many risks.</li>  <li>I believe that there are both opportunities and risks, but would see the prior outweighing the latter.</li>  <li>In the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/567d19950e6c8789ce2192b4503f0fa5\" tg-width=\"1536\" tg-height=\"653\" referrerpolicy=\"no-referrer\"><span>Photo by efetova/iStock via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW是一只战场股票，有些人看到了很多机会，而另一些人则看到了很多风险。</li><li>我相信机遇和风险都存在，但我认为前者大于后者。</li><li>从长远来看，阿里巴巴有机会为那些以目前相当低的估值买入的人带来强劲收益。</li></ul><p class=\"t-img-caption\"><span>摄影：efetova/iStock，来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Alibaba Group (BABA) is a leading global high-tech name that continues to generate attractive growth and that offers investors exposure to the high-growth Chinese consumer market. At the same time, through a range of ventures, Alibaba is also active in additional industries, such as cloud computing. Shares have declined considerably over the last couple of months, but I believe that the long-term potential is significant. I would not be surprised to see shares rise towards $500, although that will not happen in the near term.</p><p><blockquote>阿里巴巴-SW集团（BABA）是一家全球领先的高科技公司，持续产生有吸引力的增长，并为投资者提供了接触高增长的中国消费市场的机会。与此同时，通过一系列合资企业，阿里巴巴-SW还活跃在云计算等其他行业。过去几个月股价大幅下跌，但我相信长期潜力巨大。如果股价上涨至500美元，我不会感到惊讶，尽管这不会在短期内发生。</blockquote></p><p> <b>BABA Stock Price</b></p><p><blockquote><b>阿里巴巴股价</b></blockquote></p><p> Since its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:</p><p><blockquote>自IPO以来，阿里巴巴-SW股价强劲上涨，但也应该提到的是，股价在2020年下半年确实出现了小幅上涨，此后大幅下跌：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8079eeb5384ea003fb3725d3cd1e877f\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Shares are now basically where they were one year ago, as the gains during summer 2020 have been erased when Ant Financial's IPO plans were stopped. The flat share price performance over the last year is somewhat surprising, though, as Alibaba continued to generate strong results in that time frame. During the last quarter, for example, Alibaba showcased a&nbsp;revenue growth rate of 64%, while revenue growth during the previous quarter was also very strong, at around 50%. This is not the only positive in Alibaba's earnings releases, however. The company also managed to grow its user count by 32 million during the most recent quarter alone, which equates to an annualized user growth rate of around 20%. This bodes well for future quarters, as more users on Alibaba's platform should translate into higher revenues. On top of that, the strong user growth shows that there is still growing demand for the shopping services that Alibaba's platforms offer -- the market is not saturated at all. Alibaba also managed to grow its EBITDA by 25% year over year, which is an attractive growth pace as well, and which was achieved despite growing investments in what management calls key growth areas. Income from operations, meanwhile, grew at an even faster pace, thanks to some operating leverage, rising by 48% year over year when adjusted for the fine that Alibaba had to pay during Q1. It makes, I believe, sense to back out this one-time item to get a clearer picture about Alibaba's underlying, \"core\" profitability during an average quarter.</p><p><blockquote>由于蚂蚁金服IPO计划被叫停后，2020年夏季的涨幅已被抹去，股价目前基本处于一年前的水平。不过，去年持平的股价表现有些令人惊讶，因为阿里巴巴-SW在此期间继续取得强劲业绩。例如，上一季度，阿里巴巴-SW的收入增长率为64%，而上一季度的收入增长也非常强劲，在50%左右。然而，这并不是阿里巴巴-SW财报中唯一的积极因素。仅在最近一个季度，该公司的用户数量就增加了3200万，相当于用户年化增长率约为20%。这对未来几个季度来说是个好兆头，因为阿里巴巴-SW平台上的更多用户应该会转化为更高的收入。最重要的是，强劲的用户增长表明，对阿里巴巴-SW平台提供的购物服务的需求仍在增长——市场根本没有饱和。阿里巴巴-SW的EBITDA也同比增长了25%，这也是一个有吸引力的增长速度，尽管管理层在评级关键增长领域的投资不断增加，但这一增长还是实现了。与此同时，由于一些运营杠杆，运营收入增长速度更快，经调整阿里巴巴-SW第一季度必须支付的罚款后，同比增长48%。我认为，为了更清楚地了解阿里巴巴-SW平均季度的基本“核心”盈利能力，放弃这一一次性项目是有意义的。</blockquote></p><p> Alibaba Group's weak share price performance, relative to the broad market and other tech names, is thus not the result of weak operating performance, but rather a result of multiple compression, driven by weak investor sentiment due to China exposure and&nbsp;fears about regulation.</p><p><blockquote>因此，相对于大盘和其他科技股，阿里巴巴-SW集团的股价表现疲软，并不是经营业绩疲软的结果，而是多重压缩的结果，原因是投资者情绪疲软以及对监管的担忧。</blockquote></p><p> At its current price of $220, BABA trades at a quite large discount compared to the current consensus analyst price target of $298. If Alibaba were to hit that, shares would gain 35%. Analyst price targets are usually issued with a 1-year time frame, thus, if the analyst community is correct, Alibaba could be a great investment. From a valuation standpoint, this price target doesn't seem outrageous at all, as $298 would equate to around 29x this year's expected net profits, or 23x next year's net earnings. The latter is likely the more telling one when we talk about a price target for summer 2022, i.e. 1 year from now.</p><p><blockquote>以目前220美元的价格计算，与目前分析师298美元的一致目标价相比，阿里巴巴的交易价格有相当大的折扣。如果阿里巴巴-SW达到这一目标，股价将上涨35%。分析师的价格目标通常以1年的时间框架发布，因此，如果分析师界是正确的，阿里巴巴-SW可能是一项伟大的投资。从估值的角度来看，这个目标价似乎一点也不离谱，因为298美元相当于今年预期净利润的29倍左右，或明年净利润的23倍。当我们谈论2022年夏季（即一年后）的价格目标时，后者可能更能说明问题。</blockquote></p><p> <b>Can Alibaba Stock Hit $500?</b></p><p><blockquote><b>阿里巴巴-SW股价能否触及500美元？</b></blockquote></p><p> The answer to that question, I think, depends on your time frame. If you are looking at a 12-month window, then Alibaba will most likely not be able to hit $500. The ~$300 price target seems achievable, although that is, of course, also not guaranteed. If, however, we take a longer-term view, then $500 seems like a share price that BABA could hit eventually. Let's look at a couple of examples.</p><p><blockquote>我认为，这个问题的答案取决于你的时间框架。如果你着眼于12个月的窗口期，那么阿里巴巴-SW很可能无法达到500美元。300美元左右的价格目标似乎是可以实现的，尽管这当然也不能保证。然而，如果我们从更长远的角度来看，那么500美元似乎是阿里巴巴最终可能触及的股价。让我们看几个例子。</blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $20 at some point and traded at an earnings multiple of 25, then shares would trade at $500.</i></p><p><blockquote><i>-如果阿里巴巴-SW在某个时候每股收益为20美元，市盈率为25倍，那么股价将为500美元。</i></blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $25 and traded at a 20x earnings multiple, then shares would trade at $500.</i></p><p><blockquote><i>-如果阿里巴巴-SW的每股收益为25美元，市盈率为20倍，那么股价将为500美元。</i></blockquote></p><p> <i>- If Alibaba were to generate earnings per share of $17 and traded at 29x its net profits, then shares would trade at (marginally below) $500.</i></p><p><blockquote><i>-如果阿里巴巴-SW的每股收益为17美元，交易价格为净利润的29倍，那么股价将为（略低于）500美元。</i></blockquote></p><p></p><p> We see that there are many scenarios that could get us to a $500 share price for BABA, some of them more likely than others. Of course, the higher your target multiple, the lower the earnings that would be required. This, in turn, means that the price target can be hit sooner, as less cumulative earnings growth would be required. When we take a look at how Alibaba was valued in the past, we see that the longer-term median earnings multiples for BABA look like this:</p><p><blockquote>我们看到，有很多情况可以让阿里巴巴的股价达到500美元，其中一些情况比其他情况更有可能。当然，你的目标倍数越高，所需的收益就越低。这反过来意味着可以更快达到价格目标，因为所需的累计盈利增长较少。当我们看一下阿里巴巴-SW过去的估值时，我们会发现阿里巴巴的长期市盈率中位数如下所示：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dd2d42b7094deb394266d6410287c2e4\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> At 30-40x net earnings, Alibaba was clearly trading at a massive premium relative to how shares are valued today (around 20x this year's earnings). I think that the current valuation is too low, but on the other hand, I do not expect Alibaba to trade at 30, 35, or even 40x net profits in coming years. Due to the growing scale of Alibaba, which makes it a little harder to maintain its excellent growth in coming years, shares will likely trade at a lower valuation in coming years, compared to how they were valued in the past.</p><p><blockquote>阿里巴巴-SW的净利润为30-40倍，相对于目前的股价估值（约为今年盈利的20倍），显然存在巨大溢价。我认为目前的估值太低，但另一方面，我预计阿里巴巴-SW未来几年的净利润不会达到30倍、35倍甚至40倍。由于阿里巴巴-SW的规模不断扩大，这使得其在未来几年保持出色的增长变得更加困难，与过去的估值相比，未来几年的股价可能会较低。</blockquote></p><p> I still think that shares do have some valuation expansion potential from the current earnings multiple of around 21, thus let's assume that shares trade at 23x net profits in the future. This would still represent a massive discount versus the historic valuation, and also a substantial discount compared to how US-based high-tech mega-caps are valued -- Amazon (AMZN), for example, trades at 59x this year's earnings.</p><p><blockquote>我仍然认为，从目前21倍左右的市盈率来看，该股确实有一定的估值扩张潜力，因此让我们假设该股未来的净利润为23倍。与历史估值相比，这仍然是一个巨大的折扣，与美国高科技大型股的估值相比也是一个巨大的折扣——例如，亚马逊(AMZN)的交易价格是今年市盈率的59倍。</blockquote></p><p> If we want to get to a $500 share price for BABA using a 23x earnings multiple, then we get to earnings per share of $21.70 that Alibaba must generate. When could this be the case? In the following chart, we see EPS estimates for the current year, next year (CY 2022), and CY 2023:</p><p><blockquote>如果我们想使用23倍的市盈率将阿里巴巴的股价达到500美元，那么阿里巴巴-SW必须产生的每股收益为21.70美元。什么时候会是这种情况？在下图中，我们看到了本年度、明年（2022财年）和2023财年的每股收益预测：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6fcf78e0b071eff9753afbdcd96f751c\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> If analysts are right, Alibaba will not get to earn $22 a share through 2023, and I think that is realistic. I do not see earnings per share rising by 100%+ between this year and 2023, either. From 2023, it would take another 43% increase in Alibaba's earnings per share to get to $21.70, which is our \"target EPS\" for a $500 share price.</p><p><blockquote>如果分析师是对的，阿里巴巴-SW到2023年每股收益将无法达到22美元，我认为这是现实的。我也不认为今年到2023年间每股收益会增长100%以上。从2023年开始，阿里巴巴-SW的每股收益需要再增长43%才能达到21.70美元，这是我们500美元股价的“目标每股收益”。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b4c351b4b5eb3328191ccaa9a3b776c\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Analysts are currently forecasting long-term EPS growth of around 27%, which would mean it would take Alibaba about 1.5 years to grow its EPS from $15.20 (2023 estimate) to our target of $21.70. Even if we assume that this is too optimistic and that growth will be just 20% in 2024 and 2025, EPS of $21.70 could be hit by the end of 2025. So, in other words, if Alibaba grows a little less than what analysts are forecasting right now, Alibaba could trade at $500 by the end of 2025 -- or 4.5 years from now. Note that this scenario does not require a high earnings multiple at all -- at 23x net profits, Alibaba wouldn't be expensive, I believe.</p><p><blockquote>分析师目前预测长期每股收益增长约为27%，这意味着阿里巴巴-SW需要大约1.5年的时间才能将每股收益从15.20美元（2023年估计）增长到我们21.70美元的目标。即使我们假设这过于乐观，2024年和2025年的增长率仅为20%，到2025年底每股收益也可能达到21.70美元。因此，换句话说，如果阿里巴巴-SW的增长略低于分析师目前的预测，那么到2025年底（即4.5年后），阿里巴巴-SW的交易价格可能会达到500美元。请注意，这种情况根本不需要很高的市盈率——我相信，阿里巴巴-SW的净利润为23倍，价格并不昂贵。</blockquote></p><p> We can get even more conservative and assume that the 2023 EPS estimate is 10% too high and that EPS will grow by just 17% a year in the years beyond 2023 (versus a long-term forecast of 27% a year by the analyst community). In that case, Alibaba would hit $21.70 in earnings per share in 2026, and shares would rise to $500 over the next 5.5 years. Even in this scenario, BABA wouldn't be a bad investment at all -- a 130% share price increase from the current level over the next 5.5 years would equate to annualized returns of 16%.</p><p><blockquote>我们可以更加保守地假设2023年每股收益预期过高10%，并且2023年之后的几年每股收益每年仅增长17%（而分析师社区的长期预测为每年27%）。在这种情况下，阿里巴巴-SW的每股收益将在2026年达到21.70美元，股价将在未来5.5年内升至500美元。即使在这种情况下，阿里巴巴也根本不是一项糟糕的投资——未来5.5年内股价较当前水平上涨130%，相当于年化回报率为16%。</blockquote></p><p> So, to sum this section up, I'd say<i>yes, BABA can hit $500</i>-- but it will realistically take a couple of years. By the mid-2020s, this seems like a very achievable goal to me, although there are, of course, no guarantees.</p><p><blockquote>所以，总结一下这一部分，我想说<i>是的，阿里巴巴可以达到500美元</i>——但实际上需要几年时间。到2020年代中期，对我来说，这似乎是一个非常可以实现的目标，尽管当然没有任何保证。</blockquote></p><p> <b>Is Alibaba Stock A Buy Or Sell Now?</b></p><p><blockquote><b>阿里巴巴-SW股票现在是买入还是卖出？</b></blockquote></p><p> Alibaba Group is, I believe, a strong investment. The company generates strong growth, profits from multiple long-term macro trends, such as growing consumer spending in China, growing e-commerce market share, and cloud computing. There are, however, risks to consider: Alibaba is highly China-dependent, and in case the economic growth story in China ends, Alibaba would be hurt a lot. On top of that, Alibaba could be targeted again by regulators, although I personally think that it is not in China's best interest to hurt one of its highest-growth tech companies.</p><p><blockquote>我认为，阿里巴巴-SW集团是一项强有力的投资。该公司增长强劲，利润来自多个长期宏观趋势，例如中国消费者支出的增长、电子商务市场份额的增长和云计算。然而，也有一些风险需要考虑：阿里巴巴-SW高度依赖中国，如果中国的经济增长故事结束，阿里巴巴-SW将受到很大伤害。最重要的是，阿里巴巴-SW可能会再次成为监管机构的目标，尽管我个人认为伤害中国增长最快的科技公司之一不符合中国的最佳利益。</blockquote></p><p></p><p> For those that worry about these risks, Alibaba may not be the right choice, but for those that see Alibaba as a potentially very rewarding play on Chinese consumers, BABA could be a strong pick in a diversified portfolio. I belong to the latter group and thus rate the stock a buy at current valuations, expecting significant upside over the coming years. Depending on your risk tolerance and how you weigh the opportunities and threats of investing in Chinese companies, you may decide differently, however.</p><p><blockquote>对于那些担心这些风险的人来说，阿里巴巴-SW可能不是正确的选择，但对于那些认为阿里巴巴-SW对中国消费者来说可能非常有益的投资的人来说，阿里巴巴可能是多元化投资组合中的一个强有力的选择。我属于后一类，因此按当前估值将该股评级为买入，预计未来几年将大幅上涨。然而，根据您的风险承受能力以及您如何权衡投资中国公司的机会和威胁，您可能会做出不同的决定。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4432992-alibaba-stock-hit-500\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4432992-alibaba-stock-hit-500","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154529120","content_text":"Summary\n\nAlibaba is a battleground stock where some see a lot of opportunities, while others see many risks.\nI believe that there are both opportunities and risks, but would see the prior outweighing the latter.\nIn the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.\n\nPhoto by efetova/iStock via Getty Images\nArticle Thesis\nAlibaba Group (BABA) is a leading global high-tech name that continues to generate attractive growth and that offers investors exposure to the high-growth Chinese consumer market. At the same time, through a range of ventures, Alibaba is also active in additional industries, such as cloud computing. Shares have declined considerably over the last couple of months, but I believe that the long-term potential is significant. I would not be surprised to see shares rise towards $500, although that will not happen in the near term.\nBABA Stock Price\nSince its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:\nData byYCharts\nShares are now basically where they were one year ago, as the gains during summer 2020 have been erased when Ant Financial's IPO plans were stopped. The flat share price performance over the last year is somewhat surprising, though, as Alibaba continued to generate strong results in that time frame. During the last quarter, for example, Alibaba showcased a revenue growth rate of 64%, while revenue growth during the previous quarter was also very strong, at around 50%. This is not the only positive in Alibaba's earnings releases, however. The company also managed to grow its user count by 32 million during the most recent quarter alone, which equates to an annualized user growth rate of around 20%. This bodes well for future quarters, as more users on Alibaba's platform should translate into higher revenues. On top of that, the strong user growth shows that there is still growing demand for the shopping services that Alibaba's platforms offer -- the market is not saturated at all. Alibaba also managed to grow its EBITDA by 25% year over year, which is an attractive growth pace as well, and which was achieved despite growing investments in what management calls key growth areas. Income from operations, meanwhile, grew at an even faster pace, thanks to some operating leverage, rising by 48% year over year when adjusted for the fine that Alibaba had to pay during Q1. It makes, I believe, sense to back out this one-time item to get a clearer picture about Alibaba's underlying, \"core\" profitability during an average quarter.\nAlibaba Group's weak share price performance, relative to the broad market and other tech names, is thus not the result of weak operating performance, but rather a result of multiple compression, driven by weak investor sentiment due to China exposure and fears about regulation.\nAt its current price of $220, BABA trades at a quite large discount compared to the current consensus analyst price target of $298. If Alibaba were to hit that, shares would gain 35%. Analyst price targets are usually issued with a 1-year time frame, thus, if the analyst community is correct, Alibaba could be a great investment. From a valuation standpoint, this price target doesn't seem outrageous at all, as $298 would equate to around 29x this year's expected net profits, or 23x next year's net earnings. The latter is likely the more telling one when we talk about a price target for summer 2022, i.e. 1 year from now.\nCan Alibaba Stock Hit $500?\nThe answer to that question, I think, depends on your time frame. If you are looking at a 12-month window, then Alibaba will most likely not be able to hit $500. The ~$300 price target seems achievable, although that is, of course, also not guaranteed. If, however, we take a longer-term view, then $500 seems like a share price that BABA could hit eventually. Let's look at a couple of examples.\n- If Alibaba were to generate earnings per share of $20 at some point and traded at an earnings multiple of 25, then shares would trade at $500.\n- If Alibaba were to generate earnings per share of $25 and traded at a 20x earnings multiple, then shares would trade at $500.\n- If Alibaba were to generate earnings per share of $17 and traded at 29x its net profits, then shares would trade at (marginally below) $500.\nWe see that there are many scenarios that could get us to a $500 share price for BABA, some of them more likely than others. Of course, the higher your target multiple, the lower the earnings that would be required. This, in turn, means that the price target can be hit sooner, as less cumulative earnings growth would be required. When we take a look at how Alibaba was valued in the past, we see that the longer-term median earnings multiples for BABA look like this:\nData byYCharts\nAt 30-40x net earnings, Alibaba was clearly trading at a massive premium relative to how shares are valued today (around 20x this year's earnings). I think that the current valuation is too low, but on the other hand, I do not expect Alibaba to trade at 30, 35, or even 40x net profits in coming years. Due to the growing scale of Alibaba, which makes it a little harder to maintain its excellent growth in coming years, shares will likely trade at a lower valuation in coming years, compared to how they were valued in the past.\nI still think that shares do have some valuation expansion potential from the current earnings multiple of around 21, thus let's assume that shares trade at 23x net profits in the future. This would still represent a massive discount versus the historic valuation, and also a substantial discount compared to how US-based high-tech mega-caps are valued -- Amazon (AMZN), for example, trades at 59x this year's earnings.\nIf we want to get to a $500 share price for BABA using a 23x earnings multiple, then we get to earnings per share of $21.70 that Alibaba must generate. When could this be the case? In the following chart, we see EPS estimates for the current year, next year (CY 2022), and CY 2023:\nData byYCharts\nIf analysts are right, Alibaba will not get to earn $22 a share through 2023, and I think that is realistic. I do not see earnings per share rising by 100%+ between this year and 2023, either. From 2023, it would take another 43% increase in Alibaba's earnings per share to get to $21.70, which is our \"target EPS\" for a $500 share price.\nData byYCharts\nAnalysts are currently forecasting long-term EPS growth of around 27%, which would mean it would take Alibaba about 1.5 years to grow its EPS from $15.20 (2023 estimate) to our target of $21.70. Even if we assume that this is too optimistic and that growth will be just 20% in 2024 and 2025, EPS of $21.70 could be hit by the end of 2025. So, in other words, if Alibaba grows a little less than what analysts are forecasting right now, Alibaba could trade at $500 by the end of 2025 -- or 4.5 years from now. Note that this scenario does not require a high earnings multiple at all -- at 23x net profits, Alibaba wouldn't be expensive, I believe.\nWe can get even more conservative and assume that the 2023 EPS estimate is 10% too high and that EPS will grow by just 17% a year in the years beyond 2023 (versus a long-term forecast of 27% a year by the analyst community). In that case, Alibaba would hit $21.70 in earnings per share in 2026, and shares would rise to $500 over the next 5.5 years. Even in this scenario, BABA wouldn't be a bad investment at all -- a 130% share price increase from the current level over the next 5.5 years would equate to annualized returns of 16%.\nSo, to sum this section up, I'd sayyes, BABA can hit $500-- but it will realistically take a couple of years. By the mid-2020s, this seems like a very achievable goal to me, although there are, of course, no guarantees.\nIs Alibaba Stock A Buy Or Sell Now?\nAlibaba Group is, I believe, a strong investment. The company generates strong growth, profits from multiple long-term macro trends, such as growing consumer spending in China, growing e-commerce market share, and cloud computing. There are, however, risks to consider: Alibaba is highly China-dependent, and in case the economic growth story in China ends, Alibaba would be hurt a lot. On top of that, Alibaba could be targeted again by regulators, although I personally think that it is not in China's best interest to hurt one of its highest-growth tech companies.\nFor those that worry about these risks, Alibaba may not be the right choice, but for those that see Alibaba as a potentially very rewarding play on Chinese consumers, BABA could be a strong pick in a diversified portfolio. I belong to the latter group and thus rate the stock a buy at current valuations, expecting significant upside over the coming years. Depending on your risk tolerance and how you weigh the opportunities and threats of investing in Chinese companies, you may decide differently, however.","news_type":1,"symbols_score_info":{"BABA":0.9,"09988":0.9}},"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}