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财神爷爷97

财神爷爷97

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2021-12-20

🤔

@Sayaka:📈 Is Now Really the Time to Be Buying Stocks???

2021-12-20

Interesting acquisition

抱歉，原内容已删除

2021-10-28

$Tiger Brokers(TIGR)$It will takes a steel of heart to buy such opportunity!

2021-09-03

Time to load up

Why Are United Microelectronics Shares Trading Higher Today?<blockquote>为什么联合微电子股价今天走高？</blockquote>

2021-08-23

😳

抱歉，原内容已删除

2021-08-15

Interesting

AMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪只芯片股票最好？</blockquote>

2021-08-10

[Surprised]

Tesla shares fell 1% in premarket trading,as the company delivering 8,621 Chinese-made vehicles in China in July, down 69% from the previous month.<blockquote>特斯拉股价在盘前交易中下跌 1%，该公司 7 月份在中国交付了 8,621 辆中国制造的汽车，环比下降 69%。</blockquote>

2021-08-02

Good recommendations

抱歉，原内容已删除

2021-07-31

Interesting

Infrastructure Spending Is on Its Way. Here’s a Cheap Way to Play It<blockquote>基础设施支出正在进行中。这里有一个便宜的玩法</blockquote>

2021-07-31

Wow

You can beat stock market indexes — this fund manager has, and this is how she and her team did it<blockquote>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</blockquote>

2021-07-27

Looking forward

抱歉，原内容已删除

2021-07-21

😮

AMC Smokes Shorts Again: What's Next?<blockquote>AMC 再次抽空头：下一步是什么？</blockquote>

2021-07-09

Noicee

Disney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.<blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</blockquote>

2021-07-07

Good buy

抱歉，原内容已删除

2021-07-06

One of the main downside of Chinese stocks

抱歉，原内容已删除

2021-07-05

Anticipating it

抱歉，原内容已删除

2021-07-04

Interesting

Here's How The Laws Of Supply And Demand Lead To Major Moves For Growth Stocks<blockquote>以下是供需规律如何导致成长型股票的重大变动</blockquote>

2021-07-03

//@Joshuatan:Hold your stocks if you believe in the company in the long terms

抱歉，原内容已删除

2021-07-02

🤔

抱歉，原内容已删除

2021-07-01

NIO gank

NIO Vs BYD Auto: Which EV Stock Is A Good Buy?<blockquote>蔚来与比亚迪汽车：哪只电动汽车股票值得购买？</blockquote>

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If you're wondering whether it makes sense to be buying stocks now, my answer would be yes. Read on for three reasons why. What would you do when&nbsp;<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>goes back to $150? Or if the S&amp;P <a href=\"https://laohu8.com/S/SPY\">$S&amp;P500 ETF(SPY)$</a>drops more than 30%? Is Tesla<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a> still on a bargain??? 📉Are we in a bubble?1. The market could keep surgingOne reason to not pause your stock buying is that the market may still post another year or two or three of growth, and you'd be stuck on the sidelines. Imagine it's 2012 or 2020, and you're wondering whether you should steer cl","listText":"It's very reasonable, then, to wonder whether the market will crash sometime soon and possibly crash hard. If you're wondering whether it makes sense to be buying stocks now, my answer would be yes. Read on for three reasons why. What would you do when&nbsp;<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>goes back to $150? Or if the S&amp;P <a href=\"https://laohu8.com/S/SPY\">$S&amp;P500 ETF(SPY)$</a>drops more than 30%? Is Tesla<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a> still on a bargain??? 📉Are we in a bubble?1. The market could keep surgingOne reason to not pause your stock buying is that the market may still post another year or two or three of growth, and you'd be stuck on the sidelines. Imagine it's 2012 or 2020, and you're wondering whether you should steer cl","text":"It's very reasonable, then, to wonder whether the market will crash sometime soon and possibly crash hard. If you're wondering whether it makes sense to be buying stocks now, my answer would be yes. Read on for three reasons why. What would you do when $Apple(AAPL)$goes back to $150? Or if the S&P $S&P500 ETF(SPY)$drops more than 30%? Is Tesla$Tesla Motors(TSLA)$ still on a bargain??? 📉Are we in a bubble?1. The market could keep surgingOne reason to not pause your stock buying is that the market may still post another year or two or three of growth, and you'd be stuck on the sidelines. Imagine it's 2012 or 2020, and you're wondering whether you should steer cl","images":[{"img":"https://static.tigerbbs.com/8039c0c4b458fd4c4a7e435f923df664","width":"3357","height":"2332"},{"img":"https://static.tigerbbs.com/a6e1d3aaf275249b29f1dabacb1b5c81","width":"1258","height":"960"},{"img":"https://static.tigerbbs.com/30090235d535b9fb83730ef67b649d86","width":"1262","height":"958"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690364840","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":4,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":3520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693625769,"gmtCreate":1640015450938,"gmtModify":1640015451120,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Interesting acquisition&nbsp;","listText":"Interesting acquisition&nbsp;","text":"Interesting acquisition","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693625769","repostId":"2192804351","repostType":4,"isVote":1,"tweetType":1,"viewCount":3981,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":854067621,"gmtCreate":1635411416347,"gmtModify":1635412622234,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>It will takes a steel of heart to buy such opportunity!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>It will takes a steel of heart to buy such opportunity!","text":"$Tiger Brokers(TIGR)$It will takes a steel of heart to buy such opportunity!","images":[{"img":"https://static.tigerbbs.com/19d64ab75c42a52c48d3d1040d94d7d1","width":"828","height":"1590"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/854067621","isVote":1,"tweetType":1,"viewCount":6032,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":815205249,"gmtCreate":1630678702681,"gmtModify":1631890159454,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Time to load up","listText":"Time to load up","text":"Time to load up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/815205249","repostId":"1168087683","repostType":4,"repost":{"id":"1168087683","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":1630678318,"share":"https://www.laohunote.com/m/news/1168087683?lang=zh_CN&edition=full","pubTime":"2021-09-03 22:11","market":"us","language":"en","title":"Why Are United Microelectronics Shares Trading Higher Today?<blockquote>为什么联合微电子股价今天走高？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1168087683","media":"Tiger Newspress","summary":"United Microelectronics shares surged nearly 6% in early trading.\n\n\nUnited Microelectronics Corp is ","content":"<p>United&nbsp;Microelectronics&nbsp;shares&nbsp;surged&nbsp;nearly&nbsp;6%&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>联合微电子股价早盘飙升近6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2124600374fa16c7cdaf7835410db05b\" tg-width=\"878\" tg-height=\"621\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul>  <li><b>United Microelectronics Corp</b>&nbsp;is the third-largest dedicated chip foundry, with a 7% market share in 2020 as per Gartner after&nbsp;<b>Taiwan Semiconductor Manufacturing Co Ltd</b>&nbsp;and GlobalFoundries.</li>  <li>As per reports, the UMC aims to hike its prices for the second time for its 28-nm technology in quick succession.</li>  <li>Rival TSM, which decided to keep the 28-nm prices intact,&nbsp;planned a 10% hike&nbsp;for its sub-16nm prices in 2022.</li>  <li>It seems like an opportune moment to&nbsp;raise the prices&nbsp;considering the demand surge&nbsp;aided chip crisis.</li> </ul></p><p><blockquote><ul><li><b>联合微电子公司</b>是第三大专用芯片代工厂，根据 Gartner 的数据，2020 年市场份额为 7%<b>台积电有限公司</b>和GlobalFoundries。</li><li>据报道，联电的目标是连续第二次提高其28纳米技术的价格。</li><li>竞争对手 TSM 决定保持 28 纳米价格不变，并计划在 2022 年将 16 纳米以下价格提高 10%。</li><li>考虑到芯片危机导致的需求激增，现在似乎是提高价格的好时机。</li></ul></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>Why Are United Microelectronics Shares Trading Higher Today?<blockquote>为什么联合微电子股价今天走高？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Are United Microelectronics Shares Trading Higher Today?<blockquote>为什么联合微电子股价今天走高？</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\">2021-09-03 22:11</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>United&nbsp;Microelectronics&nbsp;shares&nbsp;surged&nbsp;nearly&nbsp;6%&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>联合微电子股价早盘飙升近6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2124600374fa16c7cdaf7835410db05b\" tg-width=\"878\" tg-height=\"621\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul>  <li><b>United Microelectronics Corp</b>&nbsp;is the third-largest dedicated chip foundry, with a 7% market share in 2020 as per Gartner after&nbsp;<b>Taiwan Semiconductor Manufacturing Co Ltd</b>&nbsp;and GlobalFoundries.</li>  <li>As per reports, the UMC aims to hike its prices for the second time for its 28-nm technology in quick succession.</li>  <li>Rival TSM, which decided to keep the 28-nm prices intact,&nbsp;planned a 10% hike&nbsp;for its sub-16nm prices in 2022.</li>  <li>It seems like an opportune moment to&nbsp;raise the prices&nbsp;considering the demand surge&nbsp;aided chip crisis.</li> </ul></p><p><blockquote><ul><li><b>联合微电子公司</b>是第三大专用芯片代工厂，根据 Gartner 的数据，2020 年市场份额为 7%<b>台积电有限公司</b>和GlobalFoundries。</li><li>据报道，联电的目标是连续第二次提高其28纳米技术的价格。</li><li>竞争对手 TSM 决定保持 28 纳米价格不变，并计划在 2022 年将 16 纳米以下价格提高 10%。</li><li>考虑到芯片危机导致的需求激增，现在似乎是提高价格的好时机。</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UMC":"联电"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168087683","content_text":"United Microelectronics shares surged nearly 6% in early trading.\n\n\nUnited Microelectronics Corp is the third-largest dedicated chip foundry, with a 7% market share in 2020 as per Gartner after Taiwan Semiconductor Manufacturing Co Ltd and GlobalFoundries.\nAs per reports, the UMC aims to hike its prices for the second time for its 28-nm technology in quick succession.\nRival TSM, which decided to keep the 28-nm prices intact, planned a 10% hike for its sub-16nm prices in 2022.\nIt seems like an opportune moment to raise the prices considering the demand surge aided chip crisis.","news_type":1,"symbols_score_info":{"UMC":0.9}},"isVote":1,"tweetType":1,"viewCount":2340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835136481,"gmtCreate":1629692221643,"gmtModify":1631890159457,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"😳&nbsp;","listText":"😳&nbsp;","text":"😳","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/835136481","repostId":"1197131256","repostType":4,"isVote":1,"tweetType":1,"viewCount":3048,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830100349,"gmtCreate":1629021306181,"gmtModify":1631890159463,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/830100349","repostId":"1138705612","repostType":4,"repost":{"id":"1138705612","kind":"news","pubTimestamp":1628995730,"share":"https://www.laohunote.com/m/news/1138705612?lang=zh_CN&edition=full","pubTime":"2021-08-15 10:48","market":"us","language":"en","title":"AMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪只芯片股票最好？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1138705612","media":"seekingalpha","summary":"AMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.AMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.Even so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&D, marketing, and pricing.Nvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.This left ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>AMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.</li>  <li>AMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.</li>  <li>Even so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&amp;D, marketing, and pricing.</li>  <li>Nvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a8f0aee0f3d10db76a1ee18fe604b40\" tg-width=\"1536\" tg-height=\"864\" referrerpolicy=\"no-referrer\"><span>Andy/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD 最近的 CPU 和 GPU 产品与英特尔和英伟达的产品相比更具竞争力。</li><li>事实证明，AMD 的 EPYC 服务器芯片可与某些英特尔芯片媲美甚至更胜一筹，并帮助 AMD 获得了服务器 CPU 市场份额。</li><li>即便如此，英特尔仍然是处理器市场的领导者，在研发、营销和定价方面长期保持着相对于AMD的优势。</li><li>英伟达在 GPU 技术方面领先于 AMD，并正在利用其 GPU 进入人工智能等邻近终端市场。</li></ul><p class=\"t-img-caption\"><span>安迪/iStock 来自盖蒂图片社</span></p></blockquote></p><p> Intel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.</p><p><blockquote>英特尔（INTC）曾经是微芯片行业的罗兹巨像，是摩尔定律力量的丰碑。然而，该公司在 10 纳米工艺方面遇到了困难，最近宣布其 7 纳米工艺将推迟到 2023 年。</blockquote></p><p> This left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.</p><p><blockquote>这为 Advanced Micro Devices Inc. (AMD) 敞开了大门，该公司充分利用了这个机会。AMD 已经占据了 CPU 市场的很大份额，并正在进军曾经几乎难以渗透的服务器市场。</blockquote></p><p> AMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.</p><p><blockquote>AMD 现已连续七个季度实现两位数收入增长，而且该公司似乎正在获得动力：管理层目前预计全年收入增长 60%，高于上一季度预测的 50%。</blockquote></p><p> However, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.</p><p><blockquote>然而，AMD 还与英伟达公司（NVDA）竞争，后者的 GPU 技术正在抢走市场份额。NVDA 还成功凭借其 GPU 进入邻近市场，尤其是人工智能和汽车市场。</blockquote></p><p> <b>The Ins And Outs of Intel</b></p><p><blockquote><b>英特尔的来龙去脉</b></blockquote></p><p> An understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.</p><p><blockquote>了解英特尔还可以深入了解 AMD。这是由于两家公司之间的重叠，特别是在x86芯片方面。英特尔在1978年开发了x86芯片。为了满足IBM的要求，即英特尔不会成为芯片的唯一供应商，INTC向AMD提供了x86指令集架构许可。</blockquote></p><p> Consequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.</p><p><blockquote>因此，英特尔和AMD在PC和服务器市场占据双头垄断地位，因为几乎所有的计算机软件都是为x86架构编写的。结果是，两者都有一条与x86生态系统相关的宽阔护城河。</blockquote></p><p> Gaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.</p><p><blockquote>游戏机尤其基于x86架构，因为这些平台通常提供具有多个计算核心的更强大的CPU和GPU。像个人电脑一样，游戏机运行使用基于x86软件的游戏。这再次扼杀了基于ARM的设备的潜在竞争。</blockquote></p><p> Until fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.</p><p><blockquote>直到最近，作为x86芯片的供应商，AMD还远远落后于INTC。然而，AMD 与台积电（纽约证券交易所股票代码：TSM）合作，利用该制造商的 7 纳米工艺在工艺技术上超越了 INTC。再加上 AMD 开发新的创新芯片设计，这种一举两得的打击导致 INTC 失去了大量市场份额。</blockquote></p><p> At the end of Q1, AMD held 19.30% of the x86 desktop&nbsp;market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5%&nbsp;market&nbsp;share in Q4 of 2019.</p><p><blockquote>Q1末，AMD占据x86台式机市场19.30%的份额，同比增长70个基点。第二季度，AMD占据了服务器市场8%的份额，高于2019年第四季度5%的市场份额。</blockquote></p><p> Despite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU&nbsp;market.</p><p><blockquote>尽管遭遇了这些挫折，但将英特尔视为一家垂死的企业似乎还为时过早。INTC是世界上最大的半导体公司之一。该公司主导着服务器市场，仍然占据全球x86 CPU市场60%的份额。</blockquote></p><p> The company has an enormous R&amp;D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.</p><p><blockquote>该公司拥有巨额研发预算，并通过收购 Habana Labs、Altera、Movidius 和 Mobileye，正在扩展到新市场，主要是人工智能、现场可编程门阵列芯片和汽车产品。</blockquote></p><p> Investors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.</p><p><blockquote>投资者不应仅仅因为 7 优于 10 就声称英特尔的新 10 纳米芯片不如 7 纳米。虽然它曾经被用来表示芯片设计的技术水平，但它已经被滥用到毫无用处的地步。</blockquote></p><p> However, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.</p><p><blockquote>然而，必须承认一些关切。英特尔在智能手机市场落后于竞争对手。随着消费者转向移动设备，随着智能手机取代个人电脑，这可能会导致持续的逆风。另一方面，应该承认的是，随着移动设备和云计算的激增，INTC 的服务器处理器业务也取得了增长。</blockquote></p><p> Intel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.</p><p><blockquote>英特尔在数据中心领域还面临着来自 AMD 的日益激烈的竞争，以及客户为 CPU 开发自己的基于 ARM 的芯片。</blockquote></p><p> <b>An Overview of AMD</b></p><p><blockquote><b>AMD概述</b></blockquote></p><p> In years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.</p><p><blockquote>在过去的几年里，INTC 占据了 x86 市场的最大份额。这在一定程度上要归功于英特尔领先的制造技术，以及 AMD 与不太出色的 GlobalFoundries 签订的晶圆供应协议。</blockquote></p><p></p><p> However, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.</p><p><blockquote>然而，由于三个因素发生了翻天覆地的变化：在创新设计的推动下，AMD将有竞争力的产品推向市场，AMD转向台积电进行生产，英特尔面临反复的制造延迟。下面的两个图表记录了公司取得的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/903df41d5400c9807ff487a75a7e5450\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益演示</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/331cd14b666f520a62d0746d5fadfa5b\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益演示</span></p></blockquote></p><p> Like Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.</p><p><blockquote>与英特尔一样，AMD 的主要产品也是 CPU 和 GPU。AMD 的芯片专为 PC、游戏机、服务器和区块链应用而设计。与 INTC 一样，AMD 的产品在很大程度上免受竞争影响，因为 PC 和服务器软件大多是为 x86 架构设计的。</blockquote></p><p> AMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.</p><p><blockquote>AMD 的强劲增长在很大程度上是以牺牲英特尔为代价的，因为 AMD 一直在稳步蚕食英特尔的 CPU 市场份额。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e7f8fbcab5da8a24d01d2b6408bd5686\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Seeking Alpha</span></p></blockquote></p><p> AMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.</p><p><blockquote>AMD 专注于 CPU 和 GPU 半定制处理器应用，这使得它们在微软 Xbox 和索尼 PlayStation 游戏机中得到应用。</blockquote></p><p> In regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.</p><p><blockquote>在 PC 集成 GPU 方面，AMD 与 NVIDIA 大致持平，而 INTC 则以约 68% 的市场份额占据主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/67a0fe74d986cf882623a8f39587d0d8\" tg-width=\"544\" tg-height=\"394\" referrerpolicy=\"no-referrer\"><span>Source:tom'sHARDWARE</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：汤姆硬件</span></p></blockquote></p><p> However, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.</p><p><blockquote>然而，英伟达以80%以上的市场份额主导着独立GPU领域，AMD横扫了剩下的市场。英伟达的独立 GPU 可以说优于 AMD（稍后会详细介绍）；因此，投资者不应在这里寻求增长。</blockquote></p><p> Although AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.</p><p><blockquote>虽然 AMD 的 EPYC 服务器 CPU 产品与竞争对手相比具有竞争力，但该公司最初依靠激进的定价来推广其第一代 EPYC 产品。然而，EPYC系列已经获得了更广泛的认可，随着米兰处理器的推出，该公司正在获得市场份额。由于服务器 CPU 的利润率高于公司的其他产品，因此向该领域的扩张将有助于推动收入增长。</blockquote></p><p> Late last year,AMD entered intoa deal&nbsp;to acquire&nbsp;Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.</p><p><blockquote>去年年底，AMD 达成收购现场可编程门阵列 (FPGA) 芯片领导者赛灵思 (XLNX) 的交易。FPGA可用于各种各样的应用。由于转向竞争的 FPGA 供应商需要对工程师进行软件和设计工具方面的再培训，因此客户不愿意转向竞争供应商。因此，如果赛灵思交易成功，AMD 将获得广泛的护城河业务。交易完成后 18 个月内运营效率管理指南约为 3 亿美元。</blockquote></p><p> The Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.</p><p><blockquote>收购赛灵思将有助于增强 AMD 的数据中心和人工智能业务。</blockquote></p><p> AMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.</p><p><blockquote>AMD 同意以 350 亿美元的全股票交易收购赛灵思。</blockquote></p><p> <b>A Survey of NVIDIA</b></p><p><blockquote><b>英伟达调查</b></blockquote></p><p> NVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.</p><p><blockquote>NVDA 对图形处理单元市场的关注使该公司在独立 GPU 领域占据了主导地位。该公司是计算平台（尤其是游戏机）分立 GPU 领域的领导者。英特尔从英伟达获得知识产权，将GPU集成到其PC芯片组中，这一事实证明了该公司保持的领先地位。</blockquote></p><p> The chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.</p><p><blockquote>下图记录了该公司在过去五年中能够控制的蓬勃发展的ASP，从2016年的Pascal架构开始，从图灵到安培。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04fb1d71f9df02f6c63907fe784b2fd8\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Source:AMD Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：AMD 投资者演示</span></p></blockquote></p><p> The firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.</p><p><blockquote>该公司的芯片也应用于许多高端个人电脑中，NVDA 在新兴的人工智能和自动驾驶汽车市场尤其具有实力。</blockquote></p><p> GPUs are being teamed with CPUs to&nbsp;enhance&nbsp;computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to&nbsp;autonomous&nbsp;vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud</p><p><blockquote>GPU正在与CPU合作，以增强计算工作负载。这一策略旨在增强人工智能系统执行计算密集型任务的能力。与自动驾驶汽车相关的人工智能是英伟达不断发展的优势。该公司在云计算领域崭露头角的另一个领域</blockquote></p><p> AI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.</p><p><blockquote>人工智能和数据中心是 NVDA 最有可能的增长途径。为了巩固其在这两项业务中的地位，该公司去年以 400 亿美元从母公司软银手中收购了 ARM Holdings (ARMHF)。</blockquote></p><p> ARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.</p><p><blockquote>ARM 是全球最大的芯片设计许可商。它的芯片无处不在，可以在手机、智能电视和平板电脑中找到。使用ARM设计已经制造了1600亿个芯片。</blockquote></p><p></p><p> Perhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.</p><p><blockquote>也许同样重要的是，1300万开发者使用ARM设备。从上下文来看，NVDA 有 200 万开发人员在其设备阵列上工作。</blockquote></p><p> Unfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.</p><p><blockquote>对投资者来说不幸的是，据报道，中国和theU.K.都不愿批准这笔交易。</blockquote></p><p> <b>Head-To-Head Comparisons</b></p><p><blockquote><b>头对头比较</b></blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p> The following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.</p><p><blockquote>下图提供了与每只股票估值相关的各种指标。所有标有“远期”字样的数据都是分析师对下一财年的一致估计。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1bdeabcd2ea473601fbaaaa03235de77\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> Next, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.</p><p><blockquote>接下来，我用一张图表来提供这三家公司的 PEG 比率。由于分析师的输入会导致 PEG 比率出现相当大的差异，因此当我发现比率存在较大差异时，我更希望读者能够获得多个来源。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/884fc2142d97afcc9e2308e50058dd45\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>作者图表</span></p></blockquote></p><p> Note that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.</p><p><blockquote>请注意，Seeking Alpha提供了三到五年的挂钩，Schwab只是将其指标列为挂钩比率，而Yahoo!财务计算五年比率。这可以解释所提供数字的一些差异。</blockquote></p><p> Perusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.</p><p><blockquote>仔细阅读第一张图表，很明显 NVDA 被高估了。同样有趣的是，在当前的市盈率和远期价格/现金流估计中，AMD 的估值接近行业中位数。</blockquote></p><p> Count me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.</p><p><blockquote>把我算作一个非常重视股票挂钩比率的投资者。查看第二张图表，AMD 是三家公司中最好的。我还注意到，每个消息来源的分析师都计算出 AMD 的 PEG 比率好于行业中位数。</blockquote></p><p> Do not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.</p><p><blockquote>不要曲解我的发现。虽然 INTC 在许多方面的估值较低，但当考虑其他因素时，我对 AMD 的总体评价较高。换句话说，这不是最便宜的估值，而是最好的估值，因为缺乏更好的方法来表达我的观点。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> <b>Analysts’ Price Targets</b></p><p><blockquote><b>分析师的目标价</b></blockquote></p><p> NVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.</p><p><blockquote>英伟达股价目前交易价格为 202.95 美元。33 位分析师的 12 个月平均目标价为 186.49 美元。最新收益报告发布后对该股进行评级的 17 位分析师的平均目标价为 210.53 美元，比该股当前价格高出约 3.7%。</blockquote></p><p> AMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.</p><p><blockquote>AMD 股价目前交易价格为 107.58 美元。28 位分析师的 12 个月平均目标价为 108.56 美元。最新收益报告发布后对该股进行评级的 11 位分析师的平均目标价为 117.27 美元，比当前股价高出约 9%。</blockquote></p><p> Intel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.</p><p><blockquote>英特尔股价目前交易价格为 54.05 美元。34 位分析师的 12 个月平均目标价为 59.86 美元。最新收益报告发布后，对该股进行评级的 16 位分析师的平均目标价为 58.97 美元，比当前股价溢价 9%。</blockquote></p><p> Investors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.</p><p><blockquote>投资者应该意识到，距离 NVDA 发布季度收益以及 INTC 和 AMD 最近发布季度收益已经近三个月了。</blockquote></p><p> <b>=Tie AMD/INTC</b></p><p><blockquote><b>=平局AMD/INTC</b></blockquote></p><p> <b>Growth Rates</b></p><p><blockquote><b>增长率</b></blockquote></p><p> The next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.</p><p><blockquote>下图提供了增长率的数据。除非另有说明，这些指标反映了分析师的平均两年预测。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8ae1b79b3731a985fc209e626ca4886\" tg-width=\"577\" tg-height=\"337\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> While investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.</p><p><blockquote>虽然熟悉这三家公司的投资者预计 INTC 在增长方面的表现将不如 NVDA 和 AMD，但在某些情况下，英特尔预计将出现负增长。</blockquote></p><p> Advanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.</p><p><blockquote>Advanced Micro Devices 的预计增长在每个类别中都领先于 NVIDIA，有时甚至领先于 NVIDIA。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> I considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.</p><p><blockquote>我考虑提供一张图表，概述每家公司的盈利能力；然而，可以说，每一个都是高利润的，这三个并置将导致平局。</blockquote></p><p> I often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.</p><p><blockquote>我经常提供一个细分股息指标的比较，但 AMD 不支付股息，而 NVDA 的收益率也很低。INTC 目前的收益率约为 2.6%。股息资金充足。</blockquote></p><p> <b>Debt Metrics</b></p><p><blockquote><b>债务指标</b></blockquote></p><p> NVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.</p><p><blockquote>英伟达上季度末拥有 126.7 亿美元现金和 59.6 亿美元现金。如果 ARM 收购获得批准，该交易的结构将使 400 亿美元收购价格中的 210 亿美元将有库存。</blockquote></p><p> AMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.</p><p><blockquote>AMD 重组了债务，降低了利息成本。截至最近一个季度末，AMD 拥有约 38 亿美元现金和 3.13 亿美元长期债务。</blockquote></p><p> Intel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.</p><p><blockquote>英特尔拥有可靠的投资级信用评级。截至上季度末，该公司持有近248.6亿美元现金，长期债务为317亿美元。</blockquote></p><p></p><p> All three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.</p><p><blockquote>这三家公司都拥有雄厚的财务状况。权衡 NVDA 和 AMD 可能因潜在收购而增加债务的可能性，我对这三家公司的评级为同等。</blockquote></p><p> <b>R&amp;D Budgets</b></p><p><blockquote><b>研发预算</b></blockquote></p><p> This is the first time I have&nbsp;compared&nbsp;the R&amp;D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.</p><p><blockquote>这是我第一次对企业的研发预算进行针锋相对的对决。然而，在半导体行业，这可能至关重要。</blockquote></p><p> Last fiscal year, Intel devoted over $13.5 billion to R&amp;D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.</p><p><blockquote>上一财年，英特尔研发投入超过135亿美元，NVDA花费近28.3亿美元，AMD研发预算略高于19亿美元。</blockquote></p><p> AMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&amp;D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.</p><p><blockquote>AMD处于明显的劣势，这种弱点被放大了，因为它经常在不同的领域与INTC和NVDA竞争。值得注意的是，英特尔的部分研发资金流向了代工业务。然而，它是这里明显的赢家，而AMD是明显的输家。</blockquote></p><p> I should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&amp;D budgets.</p><p><blockquote>我还应该补充一点，NVDA 正在蚕食 AMD 在独立 GPU 市场的份额，我相信这一趋势还会继续下去，部分原因是研发预算的差异。</blockquote></p><p> <b>=Advantage INTC</b></p><p><blockquote><b>=优势INTC</b></blockquote></p><p> <b>Bottom Line: Which Is The Best Chip Stock?</b></p><p><blockquote><b>一句话：哪只芯片股最好？</b></blockquote></p><p> To arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.</p><p><blockquote>要得出答案，很大程度上取决于英伟达能否完成对ARM的收购。</blockquote></p><p> Because ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.</p><p><blockquote>由于 ARM 处理器比 x86 芯片更强大、更具成本效益，NVDA 可以在数据中心领域获得市场份额。由于英特尔约三分之一的收入来自数据中心，这可能会给 INTC 带来阻力，而给 NVDA 带来利好。然而，这笔交易很有可能无法完成。</blockquote></p><p> The degree of success Intel finds as its&nbsp;planned&nbsp;foundries come online is another factor that should be weighed.</p><p><blockquote>英特尔计划中的代工厂上线后取得的成功程度是另一个需要权衡的因素。</blockquote></p><p> A development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.</p><p><blockquote>一个需要权衡的发展是，就其产品质量而言，AMD现在已经在PC市场与INTC平起平坐。此外，AMD正在服务器市场获得市场份额，我预计这一趋势将继续下去。</blockquote></p><p> On the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.</p><p><blockquote>另一方面，AMD 正在将独立 GPU 市场的份额输给 NVDA。NVDA 在该领域拥有技术领先地位，这种领先地位可能会持续下去。</blockquote></p><p> While AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.</p><p><blockquote>虽然 AMD 和 NVDA 被视为增长机器，但我们不应忽视英特尔的物联网业务在上一季度增长了 47%。Mobileye 的增长也激增，收入增长了 124%。尽管这些业务的总收入只有13亿美元，只是英特尔185亿美元总收入的一小部分，但它们仍然代表着高增长的领域。</blockquote></p><p> However, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.</p><p><blockquote>但请注意，标题指的是 “芯片库存”。因此，技术优势只是难题的一部分。任何投资决策都必须考虑当前估值和未来增长率。</blockquote></p><p> With that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.</p><p><blockquote>考虑到这一点，由于当前的估值和增长预期，我必须将英伟达评级为持有。请注意，我的评级是基于股票的当前估值。我感谢公司的模范领导，并相信该股的长期前景非常好。</blockquote></p><p> I also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.</p><p><blockquote>我还将 INTC 评级为持有。我之前将该公司评级为买入。虽然我仍然相信该公司将为长期投资者提供良好的服务，但我现在相信其复苏将在很长一段时间内展开，并且还有更好的机会。</blockquote></p><p> I rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.</p><p><blockquote>我将 AMD 评级为买入。这是基于本文中概述的当前估值和增长率。我还要补充一点，我认为随着英特尔努力复苏，AMD 很可能会蚕食市场份额，这也支撑了这些指标。</blockquote></p><p> For additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA&nbsp;contributor&nbsp;Keyanoush Razavidinani.</p><p><blockquote>要进一步了解AMD和INTC投资的技术方面，我推荐SA撰稿人Keyanoush Razavidinani的一篇优秀文章。</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>AMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪只芯片股票最好？</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\">\nAMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪只芯片股票最好？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-15 10:48</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>AMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.</li>  <li>AMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.</li>  <li>Even so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&amp;D, marketing, and pricing.</li>  <li>Nvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a8f0aee0f3d10db76a1ee18fe604b40\" tg-width=\"1536\" tg-height=\"864\" referrerpolicy=\"no-referrer\"><span>Andy/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD 最近的 CPU 和 GPU 产品与英特尔和英伟达的产品相比更具竞争力。</li><li>事实证明，AMD 的 EPYC 服务器芯片可与某些英特尔芯片媲美甚至更胜一筹，并帮助 AMD 获得了服务器 CPU 市场份额。</li><li>即便如此，英特尔仍然是处理器市场的领导者，在研发、营销和定价方面长期保持着相对于AMD的优势。</li><li>英伟达在 GPU 技术方面领先于 AMD，并正在利用其 GPU 进入人工智能等邻近终端市场。</li></ul><p class=\"t-img-caption\"><span>安迪/iStock 来自盖蒂图片社</span></p></blockquote></p><p> Intel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.</p><p><blockquote>英特尔（INTC）曾经是微芯片行业的罗兹巨像，是摩尔定律力量的丰碑。然而，该公司在 10 纳米工艺方面遇到了困难，最近宣布其 7 纳米工艺将推迟到 2023 年。</blockquote></p><p> This left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.</p><p><blockquote>这为 Advanced Micro Devices Inc. (AMD) 敞开了大门，该公司充分利用了这个机会。AMD 已经占据了 CPU 市场的很大份额，并正在进军曾经几乎难以渗透的服务器市场。</blockquote></p><p> AMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.</p><p><blockquote>AMD 现已连续七个季度实现两位数收入增长，而且该公司似乎正在获得动力：管理层目前预计全年收入增长 60%，高于上一季度预测的 50%。</blockquote></p><p> However, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.</p><p><blockquote>然而，AMD 还与英伟达公司（NVDA）竞争，后者的 GPU 技术正在抢走市场份额。NVDA 还成功凭借其 GPU 进入邻近市场，尤其是人工智能和汽车市场。</blockquote></p><p> <b>The Ins And Outs of Intel</b></p><p><blockquote><b>英特尔的来龙去脉</b></blockquote></p><p> An understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.</p><p><blockquote>了解英特尔还可以深入了解 AMD。这是由于两家公司之间的重叠，特别是在x86芯片方面。英特尔在1978年开发了x86芯片。为了满足IBM的要求，即英特尔不会成为芯片的唯一供应商，INTC向AMD提供了x86指令集架构许可。</blockquote></p><p> Consequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.</p><p><blockquote>因此，英特尔和AMD在PC和服务器市场占据双头垄断地位，因为几乎所有的计算机软件都是为x86架构编写的。结果是，两者都有一条与x86生态系统相关的宽阔护城河。</blockquote></p><p> Gaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.</p><p><blockquote>游戏机尤其基于x86架构，因为这些平台通常提供具有多个计算核心的更强大的CPU和GPU。像个人电脑一样，游戏机运行使用基于x86软件的游戏。这再次扼杀了基于ARM的设备的潜在竞争。</blockquote></p><p> Until fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.</p><p><blockquote>直到最近，作为x86芯片的供应商，AMD还远远落后于INTC。然而，AMD 与台积电（纽约证券交易所股票代码：TSM）合作，利用该制造商的 7 纳米工艺在工艺技术上超越了 INTC。再加上 AMD 开发新的创新芯片设计，这种一举两得的打击导致 INTC 失去了大量市场份额。</blockquote></p><p> At the end of Q1, AMD held 19.30% of the x86 desktop&nbsp;market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5%&nbsp;market&nbsp;share in Q4 of 2019.</p><p><blockquote>Q1末，AMD占据x86台式机市场19.30%的份额，同比增长70个基点。第二季度，AMD占据了服务器市场8%的份额，高于2019年第四季度5%的市场份额。</blockquote></p><p> Despite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU&nbsp;market.</p><p><blockquote>尽管遭遇了这些挫折，但将英特尔视为一家垂死的企业似乎还为时过早。INTC是世界上最大的半导体公司之一。该公司主导着服务器市场，仍然占据全球x86 CPU市场60%的份额。</blockquote></p><p> The company has an enormous R&amp;D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.</p><p><blockquote>该公司拥有巨额研发预算，并通过收购 Habana Labs、Altera、Movidius 和 Mobileye，正在扩展到新市场，主要是人工智能、现场可编程门阵列芯片和汽车产品。</blockquote></p><p> Investors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.</p><p><blockquote>投资者不应仅仅因为 7 优于 10 就声称英特尔的新 10 纳米芯片不如 7 纳米。虽然它曾经被用来表示芯片设计的技术水平，但它已经被滥用到毫无用处的地步。</blockquote></p><p> However, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.</p><p><blockquote>然而，必须承认一些关切。英特尔在智能手机市场落后于竞争对手。随着消费者转向移动设备，随着智能手机取代个人电脑，这可能会导致持续的逆风。另一方面，应该承认的是，随着移动设备和云计算的激增，INTC 的服务器处理器业务也取得了增长。</blockquote></p><p> Intel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.</p><p><blockquote>英特尔在数据中心领域还面临着来自 AMD 的日益激烈的竞争，以及客户为 CPU 开发自己的基于 ARM 的芯片。</blockquote></p><p> <b>An Overview of AMD</b></p><p><blockquote><b>AMD概述</b></blockquote></p><p> In years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.</p><p><blockquote>在过去的几年里，INTC 占据了 x86 市场的最大份额。这在一定程度上要归功于英特尔领先的制造技术，以及 AMD 与不太出色的 GlobalFoundries 签订的晶圆供应协议。</blockquote></p><p></p><p> However, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.</p><p><blockquote>然而，由于三个因素发生了翻天覆地的变化：在创新设计的推动下，AMD将有竞争力的产品推向市场，AMD转向台积电进行生产，英特尔面临反复的制造延迟。下面的两个图表记录了公司取得的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/903df41d5400c9807ff487a75a7e5450\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益演示</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/331cd14b666f520a62d0746d5fadfa5b\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益演示</span></p></blockquote></p><p> Like Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.</p><p><blockquote>与英特尔一样，AMD 的主要产品也是 CPU 和 GPU。AMD 的芯片专为 PC、游戏机、服务器和区块链应用而设计。与 INTC 一样，AMD 的产品在很大程度上免受竞争影响，因为 PC 和服务器软件大多是为 x86 架构设计的。</blockquote></p><p> AMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.</p><p><blockquote>AMD 的强劲增长在很大程度上是以牺牲英特尔为代价的，因为 AMD 一直在稳步蚕食英特尔的 CPU 市场份额。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e7f8fbcab5da8a24d01d2b6408bd5686\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Seeking Alpha</span></p></blockquote></p><p> AMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.</p><p><blockquote>AMD 专注于 CPU 和 GPU 半定制处理器应用，这使得它们在微软 Xbox 和索尼 PlayStation 游戏机中得到应用。</blockquote></p><p> In regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.</p><p><blockquote>在 PC 集成 GPU 方面，AMD 与 NVIDIA 大致持平，而 INTC 则以约 68% 的市场份额占据主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/67a0fe74d986cf882623a8f39587d0d8\" tg-width=\"544\" tg-height=\"394\" referrerpolicy=\"no-referrer\"><span>Source:tom'sHARDWARE</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：汤姆硬件</span></p></blockquote></p><p> However, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.</p><p><blockquote>然而，英伟达以80%以上的市场份额主导着独立GPU领域，AMD横扫了剩下的市场。英伟达的独立 GPU 可以说优于 AMD（稍后会详细介绍）；因此，投资者不应在这里寻求增长。</blockquote></p><p> Although AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.</p><p><blockquote>虽然 AMD 的 EPYC 服务器 CPU 产品与竞争对手相比具有竞争力，但该公司最初依靠激进的定价来推广其第一代 EPYC 产品。然而，EPYC系列已经获得了更广泛的认可，随着米兰处理器的推出，该公司正在获得市场份额。由于服务器 CPU 的利润率高于公司的其他产品，因此向该领域的扩张将有助于推动收入增长。</blockquote></p><p> Late last year,AMD entered intoa deal&nbsp;to acquire&nbsp;Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.</p><p><blockquote>去年年底，AMD 达成收购现场可编程门阵列 (FPGA) 芯片领导者赛灵思 (XLNX) 的交易。FPGA可用于各种各样的应用。由于转向竞争的 FPGA 供应商需要对工程师进行软件和设计工具方面的再培训，因此客户不愿意转向竞争供应商。因此，如果赛灵思交易成功，AMD 将获得广泛的护城河业务。交易完成后 18 个月内运营效率管理指南约为 3 亿美元。</blockquote></p><p> The Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.</p><p><blockquote>收购赛灵思将有助于增强 AMD 的数据中心和人工智能业务。</blockquote></p><p> AMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.</p><p><blockquote>AMD 同意以 350 亿美元的全股票交易收购赛灵思。</blockquote></p><p> <b>A Survey of NVIDIA</b></p><p><blockquote><b>英伟达调查</b></blockquote></p><p> NVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.</p><p><blockquote>NVDA 对图形处理单元市场的关注使该公司在独立 GPU 领域占据了主导地位。该公司是计算平台（尤其是游戏机）分立 GPU 领域的领导者。英特尔从英伟达获得知识产权，将GPU集成到其PC芯片组中，这一事实证明了该公司保持的领先地位。</blockquote></p><p> The chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.</p><p><blockquote>下图记录了该公司在过去五年中能够控制的蓬勃发展的ASP，从2016年的Pascal架构开始，从图灵到安培。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04fb1d71f9df02f6c63907fe784b2fd8\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Source:AMD Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：AMD 投资者演示</span></p></blockquote></p><p> The firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.</p><p><blockquote>该公司的芯片也应用于许多高端个人电脑中，NVDA 在新兴的人工智能和自动驾驶汽车市场尤其具有实力。</blockquote></p><p> GPUs are being teamed with CPUs to&nbsp;enhance&nbsp;computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to&nbsp;autonomous&nbsp;vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud</p><p><blockquote>GPU正在与CPU合作，以增强计算工作负载。这一策略旨在增强人工智能系统执行计算密集型任务的能力。与自动驾驶汽车相关的人工智能是英伟达不断发展的优势。该公司在云计算领域崭露头角的另一个领域</blockquote></p><p> AI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.</p><p><blockquote>人工智能和数据中心是 NVDA 最有可能的增长途径。为了巩固其在这两项业务中的地位，该公司去年以 400 亿美元从母公司软银手中收购了 ARM Holdings (ARMHF)。</blockquote></p><p> ARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.</p><p><blockquote>ARM 是全球最大的芯片设计许可商。它的芯片无处不在，可以在手机、智能电视和平板电脑中找到。使用ARM设计已经制造了1600亿个芯片。</blockquote></p><p></p><p> Perhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.</p><p><blockquote>也许同样重要的是，1300万开发者使用ARM设备。从上下文来看，NVDA 有 200 万开发人员在其设备阵列上工作。</blockquote></p><p> Unfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.</p><p><blockquote>对投资者来说不幸的是，据报道，中国和theU.K.都不愿批准这笔交易。</blockquote></p><p> <b>Head-To-Head Comparisons</b></p><p><blockquote><b>头对头比较</b></blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p> The following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.</p><p><blockquote>下图提供了与每只股票估值相关的各种指标。所有标有“远期”字样的数据都是分析师对下一财年的一致估计。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1bdeabcd2ea473601fbaaaa03235de77\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> Next, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.</p><p><blockquote>接下来，我用一张图表来提供这三家公司的 PEG 比率。由于分析师的输入会导致 PEG 比率出现相当大的差异，因此当我发现比率存在较大差异时，我更希望读者能够获得多个来源。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/884fc2142d97afcc9e2308e50058dd45\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>作者图表</span></p></blockquote></p><p> Note that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.</p><p><blockquote>请注意，Seeking Alpha提供了三到五年的挂钩，Schwab只是将其指标列为挂钩比率，而Yahoo!财务计算五年比率。这可以解释所提供数字的一些差异。</blockquote></p><p> Perusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.</p><p><blockquote>仔细阅读第一张图表，很明显 NVDA 被高估了。同样有趣的是，在当前的市盈率和远期价格/现金流估计中，AMD 的估值接近行业中位数。</blockquote></p><p> Count me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.</p><p><blockquote>把我算作一个非常重视股票挂钩比率的投资者。查看第二张图表，AMD 是三家公司中最好的。我还注意到，每个消息来源的分析师都计算出 AMD 的 PEG 比率好于行业中位数。</blockquote></p><p> Do not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.</p><p><blockquote>不要曲解我的发现。虽然 INTC 在许多方面的估值较低，但当考虑其他因素时，我对 AMD 的总体评价较高。换句话说，这不是最便宜的估值，而是最好的估值，因为缺乏更好的方法来表达我的观点。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> <b>Analysts’ Price Targets</b></p><p><blockquote><b>分析师的目标价</b></blockquote></p><p> NVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.</p><p><blockquote>英伟达股价目前交易价格为 202.95 美元。33 位分析师的 12 个月平均目标价为 186.49 美元。最新收益报告发布后对该股进行评级的 17 位分析师的平均目标价为 210.53 美元，比该股当前价格高出约 3.7%。</blockquote></p><p> AMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.</p><p><blockquote>AMD 股价目前交易价格为 107.58 美元。28 位分析师的 12 个月平均目标价为 108.56 美元。最新收益报告发布后对该股进行评级的 11 位分析师的平均目标价为 117.27 美元，比当前股价高出约 9%。</blockquote></p><p> Intel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.</p><p><blockquote>英特尔股价目前交易价格为 54.05 美元。34 位分析师的 12 个月平均目标价为 59.86 美元。最新收益报告发布后，对该股进行评级的 16 位分析师的平均目标价为 58.97 美元，比当前股价溢价 9%。</blockquote></p><p> Investors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.</p><p><blockquote>投资者应该意识到，距离 NVDA 发布季度收益以及 INTC 和 AMD 最近发布季度收益已经近三个月了。</blockquote></p><p> <b>=Tie AMD/INTC</b></p><p><blockquote><b>=平局AMD/INTC</b></blockquote></p><p> <b>Growth Rates</b></p><p><blockquote><b>增长率</b></blockquote></p><p> The next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.</p><p><blockquote>下图提供了增长率的数据。除非另有说明，这些指标反映了分析师的平均两年预测。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8ae1b79b3731a985fc209e626ca4886\" tg-width=\"577\" tg-height=\"337\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> While investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.</p><p><blockquote>虽然熟悉这三家公司的投资者预计 INTC 在增长方面的表现将不如 NVDA 和 AMD，但在某些情况下，英特尔预计将出现负增长。</blockquote></p><p> Advanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.</p><p><blockquote>Advanced Micro Devices 的预计增长在每个类别中都领先于 NVIDIA，有时甚至领先于 NVIDIA。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> I considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.</p><p><blockquote>我考虑提供一张图表，概述每家公司的盈利能力；然而，可以说，每一个都是高利润的，这三个并置将导致平局。</blockquote></p><p> I often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.</p><p><blockquote>我经常提供一个细分股息指标的比较，但 AMD 不支付股息，而 NVDA 的收益率也很低。INTC 目前的收益率约为 2.6%。股息资金充足。</blockquote></p><p> <b>Debt Metrics</b></p><p><blockquote><b>债务指标</b></blockquote></p><p> NVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.</p><p><blockquote>英伟达上季度末拥有 126.7 亿美元现金和 59.6 亿美元现金。如果 ARM 收购获得批准，该交易的结构将使 400 亿美元收购价格中的 210 亿美元将有库存。</blockquote></p><p> AMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.</p><p><blockquote>AMD 重组了债务，降低了利息成本。截至最近一个季度末，AMD 拥有约 38 亿美元现金和 3.13 亿美元长期债务。</blockquote></p><p> Intel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.</p><p><blockquote>英特尔拥有可靠的投资级信用评级。截至上季度末，该公司持有近248.6亿美元现金，长期债务为317亿美元。</blockquote></p><p></p><p> All three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.</p><p><blockquote>这三家公司都拥有雄厚的财务状况。权衡 NVDA 和 AMD 可能因潜在收购而增加债务的可能性，我对这三家公司的评级为同等。</blockquote></p><p> <b>R&amp;D Budgets</b></p><p><blockquote><b>研发预算</b></blockquote></p><p> This is the first time I have&nbsp;compared&nbsp;the R&amp;D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.</p><p><blockquote>这是我第一次对企业的研发预算进行针锋相对的对决。然而，在半导体行业，这可能至关重要。</blockquote></p><p> Last fiscal year, Intel devoted over $13.5 billion to R&amp;D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.</p><p><blockquote>上一财年，英特尔研发投入超过135亿美元，NVDA花费近28.3亿美元，AMD研发预算略高于19亿美元。</blockquote></p><p> AMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&amp;D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.</p><p><blockquote>AMD处于明显的劣势，这种弱点被放大了，因为它经常在不同的领域与INTC和NVDA竞争。值得注意的是，英特尔的部分研发资金流向了代工业务。然而，它是这里明显的赢家，而AMD是明显的输家。</blockquote></p><p> I should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&amp;D budgets.</p><p><blockquote>我还应该补充一点，NVDA 正在蚕食 AMD 在独立 GPU 市场的份额，我相信这一趋势还会继续下去，部分原因是研发预算的差异。</blockquote></p><p> <b>=Advantage INTC</b></p><p><blockquote><b>=优势INTC</b></blockquote></p><p> <b>Bottom Line: Which Is The Best Chip Stock?</b></p><p><blockquote><b>一句话：哪只芯片股最好？</b></blockquote></p><p> To arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.</p><p><blockquote>要得出答案，很大程度上取决于英伟达能否完成对ARM的收购。</blockquote></p><p> Because ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.</p><p><blockquote>由于 ARM 处理器比 x86 芯片更强大、更具成本效益，NVDA 可以在数据中心领域获得市场份额。由于英特尔约三分之一的收入来自数据中心，这可能会给 INTC 带来阻力，而给 NVDA 带来利好。然而，这笔交易很有可能无法完成。</blockquote></p><p> The degree of success Intel finds as its&nbsp;planned&nbsp;foundries come online is another factor that should be weighed.</p><p><blockquote>英特尔计划中的代工厂上线后取得的成功程度是另一个需要权衡的因素。</blockquote></p><p> A development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.</p><p><blockquote>一个需要权衡的发展是，就其产品质量而言，AMD现在已经在PC市场与INTC平起平坐。此外，AMD正在服务器市场获得市场份额，我预计这一趋势将继续下去。</blockquote></p><p> On the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.</p><p><blockquote>另一方面，AMD 正在将独立 GPU 市场的份额输给 NVDA。NVDA 在该领域拥有技术领先地位，这种领先地位可能会持续下去。</blockquote></p><p> While AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.</p><p><blockquote>虽然 AMD 和 NVDA 被视为增长机器，但我们不应忽视英特尔的物联网业务在上一季度增长了 47%。Mobileye 的增长也激增，收入增长了 124%。尽管这些业务的总收入只有13亿美元，只是英特尔185亿美元总收入的一小部分，但它们仍然代表着高增长的领域。</blockquote></p><p> However, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.</p><p><blockquote>但请注意，标题指的是 “芯片库存”。因此，技术优势只是难题的一部分。任何投资决策都必须考虑当前估值和未来增长率。</blockquote></p><p> With that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.</p><p><blockquote>考虑到这一点，由于当前的估值和增长预期，我必须将英伟达评级为持有。请注意，我的评级是基于股票的当前估值。我感谢公司的模范领导，并相信该股的长期前景非常好。</blockquote></p><p> I also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.</p><p><blockquote>我还将 INTC 评级为持有。我之前将该公司评级为买入。虽然我仍然相信该公司将为长期投资者提供良好的服务，但我现在相信其复苏将在很长一段时间内展开，并且还有更好的机会。</blockquote></p><p> I rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.</p><p><blockquote>我将 AMD 评级为买入。这是基于本文中概述的当前估值和增长率。我还要补充一点，我认为随着英特尔努力复苏，AMD 很可能会蚕食市场份额，这也支撑了这些指标。</blockquote></p><p> For additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA&nbsp;contributor&nbsp;Keyanoush Razavidinani.</p><p><blockquote>要进一步了解AMD和INTC投资的技术方面，我推荐SA撰稿人Keyanoush Razavidinani的一篇优秀文章。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4448637-amd-intel-nvidia-best-chip-stock\">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":"https://static.tigerbbs.com/dad74e350b9b09d45929989f896aaa9d","relate_stocks":{"NVDA":"英伟达","INTC":"英特尔","AMD":"美国超微公司"},"source_url":"https://seekingalpha.com/article/4448637-amd-intel-nvidia-best-chip-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138705612","content_text":"Summary\n\nAMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.\nAMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.\nEven so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&D, marketing, and pricing.\nNvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.\n\nAndy/iStock via Getty Images\nIntel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.\nThis left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.\nAMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.\nHowever, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.\nThe Ins And Outs of Intel\nAn understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.\nConsequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.\nGaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.\nUntil fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.\nAt the end of Q1, AMD held 19.30% of the x86 desktop market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5% market share in Q4 of 2019.\nDespite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU market.\nThe company has an enormous R&D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.\nInvestors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.\nHowever, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.\nIntel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.\nAn Overview of AMD\nIn years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.\nHowever, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.\nSource:Q2 Earnings Presentation\nSource:Q2 Earnings Presentation\nLike Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.\nAMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.\nSource:Seeking Alpha\nAMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.\nIn regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.\nSource:tom'sHARDWARE\nHowever, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.\nAlthough AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.\nLate last year,AMD entered intoa deal to acquire Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.\nThe Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.\nAMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.\nA Survey of NVIDIA\nNVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.\nThe chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.\nSource:AMD Investor Presentation\nThe firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.\nGPUs are being teamed with CPUs to enhance computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to autonomous vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud\nAI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.\nARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.\nPerhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.\nUnfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.\nHead-To-Head Comparisons\nValuation Metrics\nThe following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.\nSource:Seeking Alpha Premium/ chart by author\nNext, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.\nChart by author\nNote that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.\nPerusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.\nCount me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.\nDo not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.\n=Advantage AMD\nAnalysts’ Price Targets\nNVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.\nAMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.\nIntel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.\nInvestors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.\n=Tie AMD/INTC\nGrowth Rates\nThe next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.\nSource:Seeking Alpha Premium/ Chart by author\nWhile investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.\nAdvanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.\n=Advantage AMD\nI considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.\nI often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.\nDebt Metrics\nNVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.\nAMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.\nIntel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.\nAll three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.\nR&D Budgets\nThis is the first time I have compared the R&D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.\nLast fiscal year, Intel devoted over $13.5 billion to R&D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.\nAMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.\nI should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&D budgets.\n=Advantage INTC\nBottom Line: Which Is The Best Chip Stock?\nTo arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.\nBecause ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.\nThe degree of success Intel finds as its planned foundries come online is another factor that should be weighed.\nA development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.\nOn the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.\nWhile AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.\nHowever, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.\nWith that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.\nI also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.\nI rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.\nFor additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA contributor Keyanoush Razavidinani.","news_type":1,"symbols_score_info":{"INTC":0.9,"AMD":0.9,"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":2303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896591941,"gmtCreate":1628590694083,"gmtModify":1631890159465,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"[Surprised]&nbsp;","listText":"[Surprised]&nbsp;","text":"[Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/896591941","repostId":"1199439318","repostType":4,"repost":{"id":"1199439318","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":1628583651,"share":"https://www.laohunote.com/m/news/1199439318?lang=zh_CN&edition=full","pubTime":"2021-08-10 16:20","market":"us","language":"en","title":"Tesla shares fell 1% in premarket trading,as the company delivering 8,621 Chinese-made vehicles in China  in July, down 69% from the previous month.<blockquote>特斯拉股价在盘前交易中下跌 1%，该公司 7 月份在中国交付了 8,621 辆中国制造的汽车，环比下降 69%。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199439318","media":"Tiger Newspress","summary":"Tesla&nbsp;shares&nbsp;fell&nbsp;1%&nbsp;in&nbsp;premarket&nbsp;trading,as&nbsp;the&nbsp;company&nbsp;delivering&nbsp;8,621&nbsp;Chinese-made&nbsp;vehicles&nbsp;in&nbsp;China&nbsp; in July, down 69% from the previous month.","content":"<p>Tesla&nbsp;shares&nbsp;fell&nbsp;1%&nbsp;in&nbsp;premarket&nbsp;trading,as&nbsp;the&nbsp;company&nbsp;delivering&nbsp;8,621&nbsp;Chinese-made&nbsp;vehicles&nbsp;in&nbsp;China&nbsp; in July, down 69% from the previous month.</p><p><blockquote>特斯拉股价在盘前交易中下跌 1%，该公司 7 月份在中国交付了 8,621 辆中国制造的汽车，环比下降 69%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6658f9412245f1a24a5923cb11933e10\" tg-width=\"859\" tg-height=\"613\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla shares fell 1% in premarket trading,as the company delivering 8,621 Chinese-made vehicles in China  in July, down 69% from the previous month.<blockquote>特斯拉股价在盘前交易中下跌 1%，该公司 7 月份在中国交付了 8,621 辆中国制造的汽车，环比下降 69%。</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\">\nTesla shares fell 1% in premarket trading,as the company delivering 8,621 Chinese-made vehicles in China  in July, down 69% from the previous month.<blockquote>特斯拉股价在盘前交易中下跌 1%，该公司 7 月份在中国交付了 8,621 辆中国制造的汽车，环比下降 69%。</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\">2021-08-10 16:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tesla&nbsp;shares&nbsp;fell&nbsp;1%&nbsp;in&nbsp;premarket&nbsp;trading,as&nbsp;the&nbsp;company&nbsp;delivering&nbsp;8,621&nbsp;Chinese-made&nbsp;vehicles&nbsp;in&nbsp;China&nbsp; in July, down 69% from the previous month.</p><p><blockquote>特斯拉股价在盘前交易中下跌 1%，该公司 7 月份在中国交付了 8,621 辆中国制造的汽车，环比下降 69%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6658f9412245f1a24a5923cb11933e10\" tg-width=\"859\" tg-height=\"613\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199439318","content_text":"Tesla shares fell 1% in premarket trading,as the company delivering 8,621 Chinese-made vehicles in China  in July, down 69% from the previous month.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3586,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804957426,"gmtCreate":1627917861065,"gmtModify":1631890159466,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Good recommendations&nbsp;","listText":"Good recommendations&nbsp;","text":"Good recommendations","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/804957426","repostId":"2156161791","repostType":4,"isVote":1,"tweetType":1,"viewCount":2901,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802190895,"gmtCreate":1627727682217,"gmtModify":1631890159470,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/802190895","repostId":"1186334150","repostType":4,"repost":{"id":"1186334150","kind":"news","pubTimestamp":1627713845,"share":"https://www.laohunote.com/m/news/1186334150?lang=zh_CN&edition=full","pubTime":"2021-07-31 14:44","market":"us","language":"en","title":"Infrastructure Spending Is on Its Way. Here’s a Cheap Way to Play It<blockquote>基础设施支出正在进行中。这里有一个便宜的玩法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1186334150","media":"Barron's","summary":"U.S. lawmakers appear to be on the cusp of passing a massive and long-awaitedinfrastructure-investme","content":"<p>U.S. lawmakers appear to be on the cusp of passing a massive and long-awaitedinfrastructure-investment bill, totaling some $1 trillion.</p><p><blockquote>美国立法者似乎即将通过一项期待已久的大规模基础设施投资法案，总额约为 1 万亿美元。</blockquote></p><p> The legislation should be a boost to businesses like<a href=\"https://laohu8.com/S/VMC\">Vulcan Materials</a>(ticker: VMC) and<a href=\"https://laohu8.com/S/MLM\">Martin Marietta Materials</a>(MLM), which make concrete and asphalt;<a href=\"https://laohu8.com/S/CAT\">Caterpillar</a>(CAT) and<a href=\"https://laohu8.com/S/TEX\">Terex</a>(TEX), which make construction equipment; and<a href=\"https://laohu8.com/S/URI\">United Rentals</a>(URI), which rents the machinery. Most of their stocks have already jumped on theprospect of infrastructure spending.</p><p><blockquote>这项立法应该会对以下企业起到推动作用：<a href=\"https://laohu8.com/S/VMC\">火神材料</a>（股票代码：VMC）和<a href=\"https://laohu8.com/S/MLM\">马丁·玛丽埃塔材料</a>（MLM），生产混凝土和沥青；<a href=\"https://laohu8.com/S/CAT\">毛虫</a>（猫）和<a href=\"https://laohu8.com/S/TEX\">特雷克斯</a>（TEX），制造建筑设备；和<a href=\"https://laohu8.com/S/URI\">联合租赁</a>（URI），租赁机器。由于基础设施支出的前景，他们的大多数股票已经上涨。</blockquote></p><p> But <a href=\"https://laohu8.com/S/AONE.U\">one</a> infrastructure play has been overlooked:<a href=\"https://laohu8.com/S/AFH\">Atlas</a> Technical Consultants(ATCX) provides engineering and design services, inspection and certification of buildings and public works, and other construction-related services. More construction means more plans and designs for Atlas to review. These eventually become finished projects that need annual inspections, paying dividends for years.</p><p><blockquote>但<a href=\"https://laohu8.com/S/AONE.U\">一</a>基础设施的发挥被忽视了：<a href=\"https://laohu8.com/S/AFH\">地图集</a>技术顾问（ATCX）提供工程和设计服务、建筑物和公共工程的检查和认证以及其他与建筑相关的服务。更多的建设意味着更多的计划和设计供阿特拉斯审查。这些最终成为需要年检的成品项目，支付多年的红利。</blockquote></p><p> And yet Atlas shares have stalled. At a recent $9, the stock trades for just eight times enterprise value to estimated 2022 earnings before interest, taxes, depreciation, and amortization, or Ebitda. That multiple is a significant discount to companies in related inspection businesses, such asMontrose Environmental Group(MEG) andTetra Tech(TTEK), which trade for more than 22 times EV/2022 Ebitda.</p><p><blockquote>然而，阿特拉斯股价却停滞不前。该股最近的价格为 9 美元，其交易价格仅为企业价值的八倍，即 2022 年息税折旧摊销前利润 (Ebitda)。对于相关检测业务的公司来说，这个倍数是一个很大的折扣，例如 Montrose Environmental Group (MEG) 和 Tetra Tech (TTEK)，它们的交易价格是 EV/2022 年 Ebitda 的 22 倍以上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19ad62f427fb70a25aa96068bc5d1756\" tg-width=\"442\" tg-height=\"364\" referrerpolicy=\"no-referrer\">“Right now, part of the valuation discount is due to the debt, but I would say there are companies like Atlas where the debt is appropriate,” says Kevin Silverman, chief investment officer and portfolio manager at small-cap–focused <a href=\"https://laohu8.com/S/STL\">Sterling</a> Partners <a href=\"https://laohu8.com/S/EQR\">Equity</a> Advisors, which owns more than $2 million worth of Atlas stock, accounting for about 2% of its assets under management. “The debt helps equity holders if you have steady profit margins and can use it for growth.”</p><p><blockquote>“专注于小盘股的公司首席投资官兼投资组合经理凯文-西尔弗曼（Kevin Silverman）表示：”目前，估值折扣的部分原因是债务，但我认为像阿特拉斯这样的公司的债务是合适的。<a href=\"https://laohu8.com/S/STL\">英镑</a>合伙人<a href=\"https://laohu8.com/S/EQR\">公平</a>Advisors 拥有价值超过 200 万美元的 Atlas 股票，约占其管理资产的 2%。“如果你有稳定的利润率，并能将其用于增长，那么债务就能帮助股东。”</blockquote></p><p> And Atlas has substantial opportunities for growth. Beyond the infrastructure-bill boost, Atlas has a long-term strategy of consolidating the fragmented U.S. inspection-services market while reducing its debt levels. Both should increase its appeal to investors and earn it a higher valuation multiple.</p><p><blockquote>Atlas 拥有巨大的增长机会。除了基础设施法案的增加之外，Atlas 还有一项长期战略，即整合分散的美国检验服务市场，同时降低其债务水平。两者都应该增加其对投资者的吸引力，并为其赢得更高的估值倍数。</blockquote></p><p> The Austin, Texas–headquartered company went public inearly 2020via a merger with a special-purpose acquisition company, or SPAC. The deal saddled the company with a convoluted capital structure, including multiple share classes, outstanding warrants, and other complications. That complexity has probably kept some investors away, as has Atlas’ relatively high debt load, which comes to 5.5 times net debt to 2021 Ebitda.</p><p><blockquote>这家总部位于德克萨斯州奥斯汀的公司于 2020 年初通过与一家特殊目的收购公司 (SPAC) 合并上市。这笔交易给该公司带来了复杂的资本结构，包括多种股票类别、未发行的认股权证和其他复杂情况。这种复杂性可能让一些投资者望而却步，Atlas 相对较高的债务负担也是如此，2021 年 Ebitda 的债务是净债务的 5.5 倍。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/99bb73a7c212bfed6d0890b8b14fbc15\" tg-width=\"607\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Atlas has reduced that complexity—redeeming its preferred equity, buying out warrants, and increasing the stock’s publicly traded float—and is focused on bringing its net debt below three times Ebitda.</p><p><blockquote>Atlas 已经降低了这种复杂性--赎回其优先股、买断认股权证和增加股票的公开交易流通量--并专注于将其净债务降至 Ebitda 的三倍以下。</blockquote></p><p> Atlas is forecast to grow sales 13% this year, to $530 million, with Ebitda up 21%, to $76 million.</p><p><blockquote>Atlas 预计今年销售额将增长 13%，达到 5.3 亿美元，Ebitda 将增长 21%，达到 7600 万美元。</blockquote></p><p> Its customers include state departments of transportation, private building owners, electric and water utilities, airports, schools, hospitals, and more. Its national presence and leading scale helps win and retain marquee projects and big clients, including the U.S. Postal <a href=\"https://laohu8.com/S/SCI\">Service</a>, the Environmental Protection Agency, the <a href=\"https://laohu8.com/S/NWY\">New York</a> <a href=\"https://laohu8.com/S/CHCO\">City</a> Housing Authority, Stanford University,Walmart(WMT), and<a href=\"https://laohu8.com/S/AAPL\">Apple</a>(AAPL).</p><p><blockquote>其客户包括州交通部门、私人建筑业主、电力和自来水公司、机场、学校、医院等。其全国影响力和领先规模有助于赢得和留住大型项目和大客户，包括美国邮政<a href=\"https://laohu8.com/S/SCI\">服务</a>环境保护局<a href=\"https://laohu8.com/S/NWY\">纽约</a><a href=\"https://laohu8.com/S/CHCO\">城市</a>房管局、斯坦福大学、沃尔玛 (WMT) 和<a href=\"https://laohu8.com/S/AAPL\">苹果</a>（苹果）。</blockquote></p><p> Atlas earned $64 million in adjusted Ebitda over the past four reported quarters, while it had a net loss of $18 million. As of the end of the first quarter, the company had a backlog of $689 million, or more than 140% of its last 12 months’ revenue of $482 million. “I’ve been in this business for 30 years, and it’s by far the highest I’ve seen,” Atlas CEO Joe Boyer tells<i>Barron’s</i>.</p><p><blockquote>Atlas 在过去四个报告季度的调整后 Ebitda 盈利 6400 万美元，而净亏损 1800 万美元。截至第一季度末，该公司积压了 6.89 亿美元的订单，占过去 12 个月 4.82 亿美元收入的 140% 以上。“Atlas 首席执行官乔-博耶（Joe Boyer）说：”我从事这个行业已经 30 年了，这是迄今为止我所见过的最高的一次。<i>巴伦</i>.</blockquote></p><p> About 70% of the company’s revenue comes from work on existing buildings, pipes, roads, and bridges. Those jobs are nondiscretionary: As we’ve tragically learned at times, infrastructure needs to be inspected and brought up to code at regular intervals, no matter what the economic or pandemic situation is.</p><p><blockquote>该公司约 70% 的收入来自现有建筑、管道、道路和桥梁的建设。这些工作是非自由裁量的： 正如我们有时悲惨地了解到的那样，无论经济或大流行病形势如何，基础设施都需要定期检查并符合规范。</blockquote></p><p> The remaining 30% of Atlas’ sales are tied to new construction, which dipped during the pandemic but is nearly back to pre-Covid-19 levels, according to Boyer.</p><p><blockquote>据 Boyer 称，Atlas 其余 30% 的销售额与新建筑有关，新建筑在大流行病期间有所下降，但已接近 Covid-19 之前的水平。</blockquote></p><p></p><p> A long-term trend toward outsourcing services by cities and states, stricter environmental standards, and aging infrastructure in the U.S. have been drivers of Atlas’ organic growth in recent years.</p><p><blockquote>近年来，美国城市和州将服务外包的长期趋势、更严格的环境标准以及基础设施的老化一直是 Atlas 有机增长的驱动力。</blockquote></p><p> That trend has been responsible for about half of Atlas’ 20% compound annual growth in sales since 2016, when it was owned by private-equity firm Bernhard Capital Partners. The other avenue for growth has been Atlas’ acquisition strategy.</p><p><blockquote>自 2016 年私募股权公司 Bernhard Capital Partners 收购 Atlas 以来，这一趋势约占 Atlas 年销售额 20% 复合增长率的一半。另一条增长途径是阿特拉斯的收购战略。</blockquote></p><p> “The idea is to find a company in a geography or a service that we don’t dominate in, bring it onto our platform, and cross-sell across our network,” Boyer says.</p><p><blockquote>“博耶说：”我们的想法是在我们不占据主导地位的地区或服务中找到一家公司，将其引入我们的平台，并在我们的网络中进行交叉销售。</blockquote></p><p> Atlas’ sweet spot for acquisition targets is about $5 million to $20 million in Ebitda, The company typically pays four to six times Ebitda in a mix of cash and stock. That makes each deal immediately accretive to earnings.</p><p><blockquote>Atlas 收购目标的最佳利润约为 500 万至 2000 万美元的 Ebitda，该公司通常以现金和股票的组合支付 Ebitda 的四到六倍。这使得每笔交易都会立即增加收益。</blockquote></p><p> As a small and relatively young public company, Atlas gets minimal coverage from Wall Street, but the three analysts who cover the firm are bullish. “We think the company is in end markets that are strong or recovering; they’ve been winning large contracts, and its backlog has been growing,” says <a href=\"https://laohu8.com/S/SF\">Stifel</a> analyst Noelle Dilts. “So, we feel good about the fundamental revenue outlook.”</p><p><blockquote>作为一家小型且相对年轻的上市公司，Atlas 从华尔街获得的报道很少，但报道该公司的三位分析师都看好该公司。“我们认为该公司所处的终端市场强劲或正在复苏；他们一直在赢得大合同，而且积压的订单也在不断增长，”他说。<a href=\"https://laohu8.com/S/SF\">斯蒂费尔</a>分析师诺埃尔·迪尔茨。“因此，我们对基本收入前景感到满意”。</blockquote></p><p> She rates Atlas a Buy, with a $14.50 price target, or 11 times her estimate of 2022 Ebitda, which doesn’t include any upside from a potential infrastructure bill. Using a 15 times Ebitda multiple, Sterling’s Silverman sees shares going to $43 three years from now, as debt paydown continues and earnings rise.</p><p><blockquote>她给予 Atlas 买入评级，目标价为 14.50 美元，是她对 2022 年 Ebitda 预估的 11 倍，这还不包括潜在的基础设施账单带来的任何上涨空间。Sterling's Silverman 采用 15 倍的 Ebitda 倍数，预计三年后，随着债务偿还的继续和盈利的上升，股价将达到 43 美元。</blockquote></p><p> Atlas’ balance sheet remains a fixer-upper, but the company has the right foundation.</p><p><blockquote>Atlas 的资产负债表仍然是一个固定的上限，但该公司拥有良好的基础。</blockquote></p><p></p>","source":"lsy1610680873436","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>Infrastructure Spending Is on Its Way. Here’s a Cheap Way to Play It<blockquote>基础设施支出正在进行中。这里有一个便宜的玩法</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\">\nInfrastructure Spending Is on Its Way. Here’s a Cheap Way to Play It<blockquote>基础设施支出正在进行中。这里有一个便宜的玩法</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-07-31 14:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>U.S. lawmakers appear to be on the cusp of passing a massive and long-awaitedinfrastructure-investment bill, totaling some $1 trillion.</p><p><blockquote>美国立法者似乎即将通过一项期待已久的大规模基础设施投资法案，总额约为 1 万亿美元。</blockquote></p><p> The legislation should be a boost to businesses like<a href=\"https://laohu8.com/S/VMC\">Vulcan Materials</a>(ticker: VMC) and<a href=\"https://laohu8.com/S/MLM\">Martin Marietta Materials</a>(MLM), which make concrete and asphalt;<a href=\"https://laohu8.com/S/CAT\">Caterpillar</a>(CAT) and<a href=\"https://laohu8.com/S/TEX\">Terex</a>(TEX), which make construction equipment; and<a href=\"https://laohu8.com/S/URI\">United Rentals</a>(URI), which rents the machinery. Most of their stocks have already jumped on theprospect of infrastructure spending.</p><p><blockquote>这项立法应该会对以下企业起到推动作用：<a href=\"https://laohu8.com/S/VMC\">火神材料</a>（股票代码：VMC）和<a href=\"https://laohu8.com/S/MLM\">马丁·玛丽埃塔材料</a>（MLM），生产混凝土和沥青；<a href=\"https://laohu8.com/S/CAT\">毛虫</a>（猫）和<a href=\"https://laohu8.com/S/TEX\">特雷克斯</a>（TEX），制造建筑设备；和<a href=\"https://laohu8.com/S/URI\">联合租赁</a>（URI），租赁机器。由于基础设施支出的前景，他们的大多数股票已经上涨。</blockquote></p><p> But <a href=\"https://laohu8.com/S/AONE.U\">one</a> infrastructure play has been overlooked:<a href=\"https://laohu8.com/S/AFH\">Atlas</a> Technical Consultants(ATCX) provides engineering and design services, inspection and certification of buildings and public works, and other construction-related services. More construction means more plans and designs for Atlas to review. These eventually become finished projects that need annual inspections, paying dividends for years.</p><p><blockquote>但<a href=\"https://laohu8.com/S/AONE.U\">一</a>基础设施的发挥被忽视了：<a href=\"https://laohu8.com/S/AFH\">地图集</a>技术顾问（ATCX）提供工程和设计服务、建筑物和公共工程的检查和认证以及其他与建筑相关的服务。更多的建设意味着更多的计划和设计供阿特拉斯审查。这些最终成为需要年检的成品项目，支付多年的红利。</blockquote></p><p> And yet Atlas shares have stalled. At a recent $9, the stock trades for just eight times enterprise value to estimated 2022 earnings before interest, taxes, depreciation, and amortization, or Ebitda. That multiple is a significant discount to companies in related inspection businesses, such asMontrose Environmental Group(MEG) andTetra Tech(TTEK), which trade for more than 22 times EV/2022 Ebitda.</p><p><blockquote>然而，阿特拉斯股价却停滞不前。该股最近的价格为 9 美元，其交易价格仅为企业价值的八倍，即 2022 年息税折旧摊销前利润 (Ebitda)。对于相关检测业务的公司来说，这个倍数是一个很大的折扣，例如 Montrose Environmental Group (MEG) 和 Tetra Tech (TTEK)，它们的交易价格是 EV/2022 年 Ebitda 的 22 倍以上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19ad62f427fb70a25aa96068bc5d1756\" tg-width=\"442\" tg-height=\"364\" referrerpolicy=\"no-referrer\">“Right now, part of the valuation discount is due to the debt, but I would say there are companies like Atlas where the debt is appropriate,” says Kevin Silverman, chief investment officer and portfolio manager at small-cap–focused <a href=\"https://laohu8.com/S/STL\">Sterling</a> Partners <a href=\"https://laohu8.com/S/EQR\">Equity</a> Advisors, which owns more than $2 million worth of Atlas stock, accounting for about 2% of its assets under management. “The debt helps equity holders if you have steady profit margins and can use it for growth.”</p><p><blockquote>“专注于小盘股的公司首席投资官兼投资组合经理凯文-西尔弗曼（Kevin Silverman）表示：”目前，估值折扣的部分原因是债务，但我认为像阿特拉斯这样的公司的债务是合适的。<a href=\"https://laohu8.com/S/STL\">英镑</a>合伙人<a href=\"https://laohu8.com/S/EQR\">公平</a>Advisors 拥有价值超过 200 万美元的 Atlas 股票，约占其管理资产的 2%。“如果你有稳定的利润率，并能将其用于增长，那么债务就能帮助股东。”</blockquote></p><p> And Atlas has substantial opportunities for growth. Beyond the infrastructure-bill boost, Atlas has a long-term strategy of consolidating the fragmented U.S. inspection-services market while reducing its debt levels. Both should increase its appeal to investors and earn it a higher valuation multiple.</p><p><blockquote>Atlas 拥有巨大的增长机会。除了基础设施法案的增加之外，Atlas 还有一项长期战略，即整合分散的美国检验服务市场，同时降低其债务水平。两者都应该增加其对投资者的吸引力，并为其赢得更高的估值倍数。</blockquote></p><p> The Austin, Texas–headquartered company went public inearly 2020via a merger with a special-purpose acquisition company, or SPAC. The deal saddled the company with a convoluted capital structure, including multiple share classes, outstanding warrants, and other complications. That complexity has probably kept some investors away, as has Atlas’ relatively high debt load, which comes to 5.5 times net debt to 2021 Ebitda.</p><p><blockquote>这家总部位于德克萨斯州奥斯汀的公司于 2020 年初通过与一家特殊目的收购公司 (SPAC) 合并上市。这笔交易给该公司带来了复杂的资本结构，包括多种股票类别、未发行的认股权证和其他复杂情况。这种复杂性可能让一些投资者望而却步，Atlas 相对较高的债务负担也是如此，2021 年 Ebitda 的债务是净债务的 5.5 倍。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/99bb73a7c212bfed6d0890b8b14fbc15\" tg-width=\"607\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Atlas has reduced that complexity—redeeming its preferred equity, buying out warrants, and increasing the stock’s publicly traded float—and is focused on bringing its net debt below three times Ebitda.</p><p><blockquote>Atlas 已经降低了这种复杂性--赎回其优先股、买断认股权证和增加股票的公开交易流通量--并专注于将其净债务降至 Ebitda 的三倍以下。</blockquote></p><p> Atlas is forecast to grow sales 13% this year, to $530 million, with Ebitda up 21%, to $76 million.</p><p><blockquote>Atlas 预计今年销售额将增长 13%，达到 5.3 亿美元，Ebitda 将增长 21%，达到 7600 万美元。</blockquote></p><p> Its customers include state departments of transportation, private building owners, electric and water utilities, airports, schools, hospitals, and more. Its national presence and leading scale helps win and retain marquee projects and big clients, including the U.S. Postal <a href=\"https://laohu8.com/S/SCI\">Service</a>, the Environmental Protection Agency, the <a href=\"https://laohu8.com/S/NWY\">New York</a> <a href=\"https://laohu8.com/S/CHCO\">City</a> Housing Authority, Stanford University,Walmart(WMT), and<a href=\"https://laohu8.com/S/AAPL\">Apple</a>(AAPL).</p><p><blockquote>其客户包括州交通部门、私人建筑业主、电力和自来水公司、机场、学校、医院等。其全国影响力和领先规模有助于赢得和留住大型项目和大客户，包括美国邮政<a href=\"https://laohu8.com/S/SCI\">服务</a>环境保护局<a href=\"https://laohu8.com/S/NWY\">纽约</a><a href=\"https://laohu8.com/S/CHCO\">城市</a>房管局、斯坦福大学、沃尔玛 (WMT) 和<a href=\"https://laohu8.com/S/AAPL\">苹果</a>（苹果）。</blockquote></p><p> Atlas earned $64 million in adjusted Ebitda over the past four reported quarters, while it had a net loss of $18 million. As of the end of the first quarter, the company had a backlog of $689 million, or more than 140% of its last 12 months’ revenue of $482 million. “I’ve been in this business for 30 years, and it’s by far the highest I’ve seen,” Atlas CEO Joe Boyer tells<i>Barron’s</i>.</p><p><blockquote>Atlas 在过去四个报告季度的调整后 Ebitda 盈利 6400 万美元，而净亏损 1800 万美元。截至第一季度末，该公司积压了 6.89 亿美元的订单，占过去 12 个月 4.82 亿美元收入的 140% 以上。“Atlas 首席执行官乔-博耶（Joe Boyer）说：”我从事这个行业已经 30 年了，这是迄今为止我所见过的最高的一次。<i>巴伦</i>.</blockquote></p><p> About 70% of the company’s revenue comes from work on existing buildings, pipes, roads, and bridges. Those jobs are nondiscretionary: As we’ve tragically learned at times, infrastructure needs to be inspected and brought up to code at regular intervals, no matter what the economic or pandemic situation is.</p><p><blockquote>该公司约 70% 的收入来自现有建筑、管道、道路和桥梁的建设。这些工作是非自由裁量的： 正如我们有时悲惨地了解到的那样，无论经济或大流行病形势如何，基础设施都需要定期检查并符合规范。</blockquote></p><p> The remaining 30% of Atlas’ sales are tied to new construction, which dipped during the pandemic but is nearly back to pre-Covid-19 levels, according to Boyer.</p><p><blockquote>据 Boyer 称，Atlas 其余 30% 的销售额与新建筑有关，新建筑在大流行病期间有所下降，但已接近 Covid-19 之前的水平。</blockquote></p><p></p><p> A long-term trend toward outsourcing services by cities and states, stricter environmental standards, and aging infrastructure in the U.S. have been drivers of Atlas’ organic growth in recent years.</p><p><blockquote>近年来，美国城市和州将服务外包的长期趋势、更严格的环境标准以及基础设施的老化一直是 Atlas 有机增长的驱动力。</blockquote></p><p> That trend has been responsible for about half of Atlas’ 20% compound annual growth in sales since 2016, when it was owned by private-equity firm Bernhard Capital Partners. The other avenue for growth has been Atlas’ acquisition strategy.</p><p><blockquote>自 2016 年私募股权公司 Bernhard Capital Partners 收购 Atlas 以来，这一趋势约占 Atlas 年销售额 20% 复合增长率的一半。另一条增长途径是阿特拉斯的收购战略。</blockquote></p><p> “The idea is to find a company in a geography or a service that we don’t dominate in, bring it onto our platform, and cross-sell across our network,” Boyer says.</p><p><blockquote>“博耶说：”我们的想法是在我们不占据主导地位的地区或服务中找到一家公司，将其引入我们的平台，并在我们的网络中进行交叉销售。</blockquote></p><p> Atlas’ sweet spot for acquisition targets is about $5 million to $20 million in Ebitda, The company typically pays four to six times Ebitda in a mix of cash and stock. That makes each deal immediately accretive to earnings.</p><p><blockquote>Atlas 收购目标的最佳利润约为 500 万至 2000 万美元的 Ebitda，该公司通常以现金和股票的组合支付 Ebitda 的四到六倍。这使得每笔交易都会立即增加收益。</blockquote></p><p> As a small and relatively young public company, Atlas gets minimal coverage from Wall Street, but the three analysts who cover the firm are bullish. “We think the company is in end markets that are strong or recovering; they’ve been winning large contracts, and its backlog has been growing,” says <a href=\"https://laohu8.com/S/SF\">Stifel</a> analyst Noelle Dilts. “So, we feel good about the fundamental revenue outlook.”</p><p><blockquote>作为一家小型且相对年轻的上市公司，Atlas 从华尔街获得的报道很少，但报道该公司的三位分析师都看好该公司。“我们认为该公司所处的终端市场强劲或正在复苏；他们一直在赢得大合同，而且积压的订单也在不断增长，”他说。<a href=\"https://laohu8.com/S/SF\">斯蒂费尔</a>分析师诺埃尔·迪尔茨。“因此，我们对基本收入前景感到满意”。</blockquote></p><p> She rates Atlas a Buy, with a $14.50 price target, or 11 times her estimate of 2022 Ebitda, which doesn’t include any upside from a potential infrastructure bill. Using a 15 times Ebitda multiple, Sterling’s Silverman sees shares going to $43 three years from now, as debt paydown continues and earnings rise.</p><p><blockquote>她给予 Atlas 买入评级，目标价为 14.50 美元，是她对 2022 年 Ebitda 预估的 11 倍，这还不包括潜在的基础设施账单带来的任何上涨空间。Sterling's Silverman 采用 15 倍的 Ebitda 倍数，预计三年后，随着债务偿还的继续和盈利的上升，股价将达到 43 美元。</blockquote></p><p> Atlas’ balance sheet remains a fixer-upper, but the company has the right foundation.</p><p><blockquote>Atlas 的资产负债表仍然是一个固定的上限，但该公司拥有良好的基础。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/infrastructure-buy-atlas-technical-consultants-stock-51627684191?mod=hp_LEAD_2\">Barron's</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":{},"source_url":"https://www.barrons.com/articles/infrastructure-buy-atlas-technical-consultants-stock-51627684191?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186334150","content_text":"U.S. lawmakers appear to be on the cusp of passing a massive and long-awaitedinfrastructure-investment bill, totaling some $1 trillion.\nThe legislation should be a boost to businesses likeVulcan Materials(ticker: VMC) andMartin Marietta Materials(MLM), which make concrete and asphalt;Caterpillar(CAT) andTerex(TEX), which make construction equipment; andUnited Rentals(URI), which rents the machinery. Most of their stocks have already jumped on theprospect of infrastructure spending.\nBut one infrastructure play has been overlooked:Atlas Technical Consultants(ATCX) provides engineering and design services, inspection and certification of buildings and public works, and other construction-related services. More construction means more plans and designs for Atlas to review. These eventually become finished projects that need annual inspections, paying dividends for years.\nAnd yet Atlas shares have stalled. At a recent $9, the stock trades for just eight times enterprise value to estimated 2022 earnings before interest, taxes, depreciation, and amortization, or Ebitda. That multiple is a significant discount to companies in related inspection businesses, such asMontrose Environmental Group(MEG) andTetra Tech(TTEK), which trade for more than 22 times EV/2022 Ebitda.\n“Right now, part of the valuation discount is due to the debt, but I would say there are companies like Atlas where the debt is appropriate,” says Kevin Silverman, chief investment officer and portfolio manager at small-cap–focused Sterling Partners Equity Advisors, which owns more than $2 million worth of Atlas stock, accounting for about 2% of its assets under management. “The debt helps equity holders if you have steady profit margins and can use it for growth.”\nAnd Atlas has substantial opportunities for growth. Beyond the infrastructure-bill boost, Atlas has a long-term strategy of consolidating the fragmented U.S. inspection-services market while reducing its debt levels. Both should increase its appeal to investors and earn it a higher valuation multiple.\nThe Austin, Texas–headquartered company went public inearly 2020via a merger with a special-purpose acquisition company, or SPAC. The deal saddled the company with a convoluted capital structure, including multiple share classes, outstanding warrants, and other complications. That complexity has probably kept some investors away, as has Atlas’ relatively high debt load, which comes to 5.5 times net debt to 2021 Ebitda.\n\nAtlas has reduced that complexity—redeeming its preferred equity, buying out warrants, and increasing the stock’s publicly traded float—and is focused on bringing its net debt below three times Ebitda.\nAtlas is forecast to grow sales 13% this year, to $530 million, with Ebitda up 21%, to $76 million.\nIts customers include state departments of transportation, private building owners, electric and water utilities, airports, schools, hospitals, and more. Its national presence and leading scale helps win and retain marquee projects and big clients, including the U.S. Postal Service, the Environmental Protection Agency, the New York City Housing Authority, Stanford University,Walmart(WMT), andApple(AAPL).\nAtlas earned $64 million in adjusted Ebitda over the past four reported quarters, while it had a net loss of $18 million. As of the end of the first quarter, the company had a backlog of $689 million, or more than 140% of its last 12 months’ revenue of $482 million. “I’ve been in this business for 30 years, and it’s by far the highest I’ve seen,” Atlas CEO Joe Boyer tellsBarron’s.\nAbout 70% of the company’s revenue comes from work on existing buildings, pipes, roads, and bridges. Those jobs are nondiscretionary: As we’ve tragically learned at times, infrastructure needs to be inspected and brought up to code at regular intervals, no matter what the economic or pandemic situation is.\nThe remaining 30% of Atlas’ sales are tied to new construction, which dipped during the pandemic but is nearly back to pre-Covid-19 levels, according to Boyer.\nA long-term trend toward outsourcing services by cities and states, stricter environmental standards, and aging infrastructure in the U.S. have been drivers of Atlas’ organic growth in recent years.\nThat trend has been responsible for about half of Atlas’ 20% compound annual growth in sales since 2016, when it was owned by private-equity firm Bernhard Capital Partners. The other avenue for growth has been Atlas’ acquisition strategy.\n“The idea is to find a company in a geography or a service that we don’t dominate in, bring it onto our platform, and cross-sell across our network,” Boyer says.\nAtlas’ sweet spot for acquisition targets is about $5 million to $20 million in Ebitda, The company typically pays four to six times Ebitda in a mix of cash and stock. That makes each deal immediately accretive to earnings.\nAs a small and relatively young public company, Atlas gets minimal coverage from Wall Street, but the three analysts who cover the firm are bullish. “We think the company is in end markets that are strong or recovering; they’ve been winning large contracts, and its backlog has been growing,” says Stifel analyst Noelle Dilts. “So, we feel good about the fundamental revenue outlook.”\nShe rates Atlas a Buy, with a $14.50 price target, or 11 times her estimate of 2022 Ebitda, which doesn’t include any upside from a potential infrastructure bill. Using a 15 times Ebitda multiple, Sterling’s Silverman sees shares going to $43 three years from now, as debt paydown continues and earnings rise.\nAtlas’ balance sheet remains a fixer-upper, but the company has the right foundation.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3368,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802190109,"gmtCreate":1627727666701,"gmtModify":1631890159472,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/802190109","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohunote.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>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</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教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</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，当你发现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>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 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，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆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，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”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，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 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 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，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 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</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>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约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 JPM 和美国运通 XP。第一季度销售额增长了 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，因为它们通常跑赢大盘。</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>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--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）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质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酿造更美味的啤酒。</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 年期间由于啤酒销售总体持平而停滞不前。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>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</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>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。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，要寻找那些由过去展示过创新技巧的人领导的公司。创新的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。股东们打赌他们会再次渡过难关。</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。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，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，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</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>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，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太在意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。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，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发展壮大。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>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 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、买入处于快速增长初期的公司</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>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据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已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，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>“拉姆说：”这是一个全新的治疗领域。“这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>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，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>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</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>你可以击败股票市场指数——这位基金经理做到了，这就是她和她的团队做到的</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教训。</b>投资是一场艰难的游戏。这就是为什么这么多共同基金落后于指数的原因。</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，当你发现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>美国世纪聚焦动态增长基金CFSX符合要求。据 toMorningstar 称，这只 28 亿美元的基金在过去三年和五年中的年化表现超过了罗素 1000 增长指数 6 个百分点以上。五年来，它的年化表现优于高增长类别 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，后来来到美国，在缅因大学担任助教，并获得了计算机科学硕士学位。她随后在宾夕法尼亚大学沃顿商学院获得了工商管理硕士学位。拉姆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，并附有具体股票的例子。</blockquote></p><p> <b>1. Own companies that can “land and expand” in big markets</b></p><p><blockquote><b>1. 拥有能够在大市场“落地并扩张”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，但许多小公司的大部分业务仍然停留在纸面上。Bill.comBill想改变这一点。该公司由首席执行官 René Lacerte 创立，他于 20 世纪 90 年代末创办了在线薪资公司 PayCycle，后来被 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 帮助小型企业在应付账款和应收账款方面实现数字化。但这仅仅是开始。一旦进入公司，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 在客户身上 “落地并扩张 ”，但它也利用客户的商业伙伴来建立潜在客户网络。</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>“拉姆说：”每个供应商都是网络成员，即使它不是 Bill.com 的客户。这个网络有大约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 JPM 和美国运通 XP。第一季度销售额增长了 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，因为它们通常跑赢大盘。</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>拉姆的投资组合中包括明显的创新者，包括特斯拉斯拉、亚马逊、Amazon.comAMZNand 和 AlphabetGOOGL，她的前三名。让我们超越技术--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）就开始从啤酒巨头百威英博（Anheuser-Busch）和喜力喜力（Heinekenheiny）手中分一杯羹，推出了成功的 “手工 ”啤酒，从塞缪尔-亚当斯（Samuel Adams）开始。科赫帮助发明了精酿啤酒类别，本质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酿造更美味的啤酒。</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 年期间由于啤酒销售总体持平而停滞不前。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>“我们之所以被该公司吸引，是因为它的创新历史，”拉姆说，他指的是她的基金从 2016 年第二季度开始的早期仓位。“由于啤酒市场趋于平稳，股票表现不佳，但他们推出了真正的硬苏打水。Truly 比我们预期的要成功。它创造了一个新的品类”。</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>波士顿啤酒的这种创新倾向帮助拉姆的基金保持了名字。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，要寻找那些由过去展示过创新技巧的人领导的公司。创新的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。股东们打赌他们会再次渡过难关。</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。7 月 23 日，波士顿啤酒股价下跌 20%，因为太多竞争对手进入了烈性苹果酒市场。由于该公司提高广告成本以应对竞争，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，该公司下调了今年的预期。</blockquote></p><p> But don’t count out this innovator yet.</p><p><blockquote>但先别排除这位创新者。</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>“波士顿啤酒公司的科赫说：”我们最近宣布了与 Beam Suntory 合作开发新型创新饮料的计划，并计划于 2022 年初推出。梁三得利出售吉姆梁威士忌和其他品牌的烈酒。“我们相信，随着饮酒者喜好的演变，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太在意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。于是它在2009年推出了卡支付设备业务。从那时起，它通过接受更大的客户，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发展壮大。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>这是一个很好的例子，说明一家公司创造了一个利基市场。但它也是一家 “土地和扩张 ”的公司，因为它通过为客户提供新服务而发展壮大。这两种品质都有助于公司保持 Ram 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、买入处于快速增长初期的公司</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>找到这些的一个方法是确定开发将改变整个行业的产品的公司。Ram 认为 Alnylam PharmaceuticalsALNY 就是这种情况。它正在开发一种名为 RNA 干扰（RNAi）的新疗法。在体内，信使RNA（mRNA）根据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已经有四种治疗罕见遗传性疾病的基于RNAi的药物获得批准。该公司还有十几种其他疗法正在进行临床研究，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>“拉姆说：”这是一个全新的治疗领域。“这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>以上所有名字都是拉姆基金的重仓股，这告诉我拉姆和她的团队认为他们的上涨空间要大得多。不过，如果您购买其中任何一种，请记住您必须在多年的时间范围内购买。拉姆基金就是这么做的。它的年投资组合周转率很低，仅为 27%。重要的是要有长远的眼光，因为很难看涨期权股市或股票的短期走势，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",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"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":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2852,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803901166,"gmtCreate":1627399154255,"gmtModify":1631890159477,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Looking forward","listText":"Looking forward","text":"Looking forward","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803901166","repostId":"1108884592","repostType":4,"isVote":1,"tweetType":1,"viewCount":1064,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176612330,"gmtCreate":1626879652220,"gmtModify":1631890159482,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"😮&nbsp;","listText":"😮&nbsp;","text":"😮","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/176612330","repostId":"1109551881","repostType":4,"repost":{"id":"1109551881","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626878219,"share":"https://www.laohunote.com/m/news/1109551881?lang=zh_CN&edition=full","pubTime":"2021-07-21 22:36","market":"us","language":"en","title":"AMC Smokes Shorts Again: What's Next?<blockquote>AMC 再次抽空头：下一步是什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109551881","media":"Benzinga Earnings","summary":"AMC Entertainment Holding Inc(NYSE:AMC) shot up 24.47% Tuesday amid returned interest in reopening s","content":"<p><b>AMC Entertainment Holding Inc</b>(NYSE:AMC) shot up 24.47% Tuesday&nbsp;amid returned interest in reopening stocks. The company also announced on Monday evening it hadmade a dealto reopen the Grove Theatre and The Americana at Brand Theatre in the Los Angeles area in August under the AMC Brand. The two theatres were formerly leased by Pacific Theatres and are two of the highest-grossing theatres in Los Angeles.</p><p><blockquote><b>AMC院线控股公司</b>（纽约证券交易所股票代码：AMC）周二上涨 24.47%，原因是人们对重新开放股票的兴趣重新燃起。该公司周一晚间还宣布，已达成协议，将于 8 月以 AMC 品牌重新开放洛杉矶地区的 Grove Theatre 和 Americana at Brand Theatre。这两个剧院以前由太平洋剧院租赁，是洛杉矶票房最高的两个剧院。</blockquote></p><p> Although presently not the toptrendingstock on r/WallStreetBets, AMC was still the 10th most mentioned stock on Tuesday. The subreddit often targets stocks with unusual characteristics such as bizarre levels of ownership and high short interest. AMC’s underlying statistics have been improving over the last few months, however, and of the company’s 448.74 million share float 75.48 million shares are held short; this is down from 102.3 million in May.</p><p><blockquote>尽管目前不是 r/WallStreetBets 上的热门股票，但 AMC 仍然是周二被提及次数排名第十的股票。该子Reddit通常瞄准具有不寻常特征的股票，例如奇怪的所有权水平和高空头利息。然而，AMC 的基本统计数据在过去几个月中一直在改善，在该公司 4.4874 亿股流通股中，有 7548 万股被做空；这比 5 月份的 1.023 亿有所下降。</blockquote></p><p> Despite short interest decreasing, AMC is still volatile and able to make big swings.</p><p><blockquote>尽管空头兴趣下降，AMC 仍然波动较大，并且能够进行大幅波动。</blockquote></p><p> <b>The AMC Chart:</b>On Monday, during a big bear day in the general markets, AMC&nbsp;put in a bottom at $31.15 and managed to print a bullish hammer candlestick indicating higher prices would come on Tuesday. AMC then printed a bullish Marubozu candlestick on Tuesday. This Marubozu candle has a very small upper wick, indicating AMC had buyers at every price level it traded at intraday.</p><p><blockquote><b>AMC图表：</b>周一，在一般市场的大熊市中，AMC 在 31.15 美元触底，并设法打印出看涨锤式烛台，表明周二价格将上涨。AMC 随后在周二发布了看涨的 Marubozu 烛台。这根 Marubozu 蜡烛的上部灯芯非常小，表明 AMC 在盘中交易的每个价格水平都有买家。</blockquote></p><p> AMC broke into a downtrend on July 1 and made a series of lower highs and lower lows until Tuesday when the price closed at $43.08, above its lower high of $37.73, which indicates a bullish trend change. Bulls won’t want the stock to drop below $31.15 for the trend to be confirmed.</p><p><blockquote>AMC 于 7 月 1 日进入下降趋势，并经历了一系列较低的高点和较低的低点，直到周二价格收于 43.08 美元，高于较低的高点 37.73 美元，这表明看涨趋势变化。多头不希望股价跌破 31.15 美元才能确认趋势。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/61ba2be17dcfd5bd5f6a00ab4398a5a6\" tg-width=\"651\" tg-height=\"256\" width=\"100%\" height=\"auto\">AMC&nbsp;was able to recapture the eight-day exponential moving average (EMA) as support but rejected, and wicked from, the 21-day EMA. Bulls will want to see AMC regain support of the level in the near term. AMC is trading well above the 200-day simple moving average, indicating overall sentiment in the stock remains bullish.</p><p><blockquote>AMC 能够重新夺回 8 天指数移动平均线 (EMA) 作为支撑，但拒绝并远离了 21 天 EMA。多头希望看到 AMC 在短期内重新获得该水平的支撑。AMC 的交易价格远高于 200 天简单移动平均线，表明该股的整体情绪仍然看涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/afbe29a91b623abe465464f45c8889b6\" tg-width=\"1366\" tg-height=\"768\" width=\"100%\" height=\"auto\">Bulls want to see continued bullish volume push AMC over the 21-day EMA and up towards the $47.91 area. If it can regain the level as support, it could trade up toward $52.97.</p><p><blockquote>多头希望看到持续的看涨成交量推动 AMC 突破 21 日均线并上涨至 47.91 美元区域。如果它能够重新获得支撑位，它可能会上涨至 52.97 美元。</blockquote></p><p> Bears want to see AMC’s stock continue to reject the 21-day EMA and for it to drop down and lose support of the eight-day EMA which aligns with a support level at $39.71. If the stock were to lose the level, it could fall toward the $31.81 mark.</p><p><blockquote>空头希望看到 AMC 的股票继续拒绝 21 日均线，并希望其下跌并失去与 39.71 美元支撑位一致的 8 日均线的支撑。如果该股失去该水平，它可能会跌至 31.81 美元大关。</blockquote></p><p> <b>AMC Price Action:</b>Shares of AMC Entertainment traded up 4.2% to $44.78 at publication time.</p><p><blockquote><b>AMC价格走势：</b>截至发稿时，AMC院线股价上涨 4.2%，至 44.78 美元。</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>AMC Smokes Shorts Again: What's Next?<blockquote>AMC 再次抽空头：下一步是什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC Smokes Shorts Again: What's Next?<blockquote>AMC 再次抽空头：下一步是什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-07-21 22:36</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>AMC Entertainment Holding Inc</b>(NYSE:AMC) shot up 24.47% Tuesday&nbsp;amid returned interest in reopening stocks. The company also announced on Monday evening it hadmade a dealto reopen the Grove Theatre and The Americana at Brand Theatre in the Los Angeles area in August under the AMC Brand. The two theatres were formerly leased by Pacific Theatres and are two of the highest-grossing theatres in Los Angeles.</p><p><blockquote><b>AMC院线控股公司</b>（纽约证券交易所股票代码：AMC）周二上涨 24.47%，原因是人们对重新开放股票的兴趣重新燃起。该公司周一晚间还宣布，已达成协议，将于 8 月以 AMC 品牌重新开放洛杉矶地区的 Grove Theatre 和 Americana at Brand Theatre。这两个剧院以前由太平洋剧院租赁，是洛杉矶票房最高的两个剧院。</blockquote></p><p> Although presently not the toptrendingstock on r/WallStreetBets, AMC was still the 10th most mentioned stock on Tuesday. The subreddit often targets stocks with unusual characteristics such as bizarre levels of ownership and high short interest. AMC’s underlying statistics have been improving over the last few months, however, and of the company’s 448.74 million share float 75.48 million shares are held short; this is down from 102.3 million in May.</p><p><blockquote>尽管目前不是 r/WallStreetBets 上的热门股票，但 AMC 仍然是周二被提及次数排名第十的股票。该子Reddit通常瞄准具有不寻常特征的股票，例如奇怪的所有权水平和高空头利息。然而，AMC 的基本统计数据在过去几个月中一直在改善，在该公司 4.4874 亿股流通股中，有 7548 万股被做空；这比 5 月份的 1.023 亿有所下降。</blockquote></p><p> Despite short interest decreasing, AMC is still volatile and able to make big swings.</p><p><blockquote>尽管空头兴趣下降，AMC 仍然波动较大，并且能够进行大幅波动。</blockquote></p><p> <b>The AMC Chart:</b>On Monday, during a big bear day in the general markets, AMC&nbsp;put in a bottom at $31.15 and managed to print a bullish hammer candlestick indicating higher prices would come on Tuesday. AMC then printed a bullish Marubozu candlestick on Tuesday. This Marubozu candle has a very small upper wick, indicating AMC had buyers at every price level it traded at intraday.</p><p><blockquote><b>AMC图表：</b>周一，在一般市场的大熊市中，AMC 在 31.15 美元触底，并设法打印出看涨锤式烛台，表明周二价格将上涨。AMC 随后在周二发布了看涨的 Marubozu 烛台。这根 Marubozu 蜡烛的上部灯芯非常小，表明 AMC 在盘中交易的每个价格水平都有买家。</blockquote></p><p> AMC broke into a downtrend on July 1 and made a series of lower highs and lower lows until Tuesday when the price closed at $43.08, above its lower high of $37.73, which indicates a bullish trend change. Bulls won’t want the stock to drop below $31.15 for the trend to be confirmed.</p><p><blockquote>AMC 于 7 月 1 日进入下降趋势，并经历了一系列较低的高点和较低的低点，直到周二价格收于 43.08 美元，高于较低的高点 37.73 美元，这表明看涨趋势变化。多头不希望股价跌破 31.15 美元才能确认趋势。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/61ba2be17dcfd5bd5f6a00ab4398a5a6\" tg-width=\"651\" tg-height=\"256\" width=\"100%\" height=\"auto\">AMC&nbsp;was able to recapture the eight-day exponential moving average (EMA) as support but rejected, and wicked from, the 21-day EMA. Bulls will want to see AMC regain support of the level in the near term. AMC is trading well above the 200-day simple moving average, indicating overall sentiment in the stock remains bullish.</p><p><blockquote>AMC 能够重新夺回 8 天指数移动平均线 (EMA) 作为支撑，但拒绝并远离了 21 天 EMA。多头希望看到 AMC 在短期内重新获得该水平的支撑。AMC 的交易价格远高于 200 天简单移动平均线，表明该股的整体情绪仍然看涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/afbe29a91b623abe465464f45c8889b6\" tg-width=\"1366\" tg-height=\"768\" width=\"100%\" height=\"auto\">Bulls want to see continued bullish volume push AMC over the 21-day EMA and up towards the $47.91 area. If it can regain the level as support, it could trade up toward $52.97.</p><p><blockquote>多头希望看到持续的看涨成交量推动 AMC 突破 21 日均线并上涨至 47.91 美元区域。如果它能够重新获得支撑位，它可能会上涨至 52.97 美元。</blockquote></p><p> Bears want to see AMC’s stock continue to reject the 21-day EMA and for it to drop down and lose support of the eight-day EMA which aligns with a support level at $39.71. If the stock were to lose the level, it could fall toward the $31.81 mark.</p><p><blockquote>空头希望看到 AMC 的股票继续拒绝 21 日均线，并希望其下跌并失去与 39.71 美元支撑位一致的 8 日均线的支撑。如果该股失去该水平，它可能会跌至 31.81 美元大关。</blockquote></p><p> <b>AMC Price Action:</b>Shares of AMC Entertainment traded up 4.2% to $44.78 at publication time.</p><p><blockquote><b>AMC价格走势：</b>截至发稿时，AMC院线股价上涨 4.2%，至 44.78 美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109551881","content_text":"AMC Entertainment Holding Inc(NYSE:AMC) shot up 24.47% Tuesday amid returned interest in reopening stocks. The company also announced on Monday evening it hadmade a dealto reopen the Grove Theatre and The Americana at Brand Theatre in the Los Angeles area in August under the AMC Brand. The two theatres were formerly leased by Pacific Theatres and are two of the highest-grossing theatres in Los Angeles.\nAlthough presently not the toptrendingstock on r/WallStreetBets, AMC was still the 10th most mentioned stock on Tuesday. The subreddit often targets stocks with unusual characteristics such as bizarre levels of ownership and high short interest. AMC’s underlying statistics have been improving over the last few months, however, and of the company’s 448.74 million share float 75.48 million shares are held short; this is down from 102.3 million in May.\nDespite short interest decreasing, AMC is still volatile and able to make big swings.\nThe AMC Chart:On Monday, during a big bear day in the general markets, AMC put in a bottom at $31.15 and managed to print a bullish hammer candlestick indicating higher prices would come on Tuesday. AMC then printed a bullish Marubozu candlestick on Tuesday. This Marubozu candle has a very small upper wick, indicating AMC had buyers at every price level it traded at intraday.\nAMC broke into a downtrend on July 1 and made a series of lower highs and lower lows until Tuesday when the price closed at $43.08, above its lower high of $37.73, which indicates a bullish trend change. Bulls won’t want the stock to drop below $31.15 for the trend to be confirmed.\nAMC was able to recapture the eight-day exponential moving average (EMA) as support but rejected, and wicked from, the 21-day EMA. Bulls will want to see AMC regain support of the level in the near term. AMC is trading well above the 200-day simple moving average, indicating overall sentiment in the stock remains bullish.\nBulls want to see continued bullish volume push AMC over the 21-day EMA and up towards the $47.91 area. If it can regain the level as support, it could trade up toward $52.97.\nBears want to see AMC’s stock continue to reject the 21-day EMA and for it to drop down and lose support of the eight-day EMA which aligns with a support level at $39.71. If the stock were to lose the level, it could fall toward the $31.81 mark.\nAMC Price Action:Shares of AMC Entertainment traded up 4.2% to $44.78 at publication time.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1036,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141105615,"gmtCreate":1625840916537,"gmtModify":1631893214773,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Noicee","listText":"Noicee","text":"Noicee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141105615","repostId":"1187480487","repostType":4,"repost":{"id":"1187480487","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":1625838849,"share":"https://www.laohunote.com/m/news/1187480487?lang=zh_CN&edition=full","pubTime":"2021-07-09 21:54","market":"us","language":"en","title":"Disney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.<blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1187480487","media":"Tiger Newspress","summary":"Disney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.\n\n\nShanghai Disneyland","content":"<p>Disney&nbsp;shares&nbsp;rises&nbsp;nearly&nbsp;2%,as&nbsp;Shanghai Disneyland raising prices up to 10%.</p><p><blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c8b245ccacada732569aab91c7bad577\" tg-width=\"803\" tg-height=\"601\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul>  <li>Shanghai Disneyland (DIS+0.7%) willraise its ticket prices starting in January.</li>  <li>The resort indicated it would boost prices on Jan. 9, setting new rates for four tiers: Regular, Regular Plus, Peak (most days in summer season and other peak visitation days), and Peak Plus.</li>  <li>The Regular price at that time will be 435 yuan (about $67.13). Regular Plus will be 545 yuan (about $84.11). Meanwhile, Peak price is set at 659 yuan ($101.70) and Peak Plus at 769 yuan ($118.67).</li>  <li>That results in increases of 9-10% across the board.</li>  <b>Disney</b>&nbsp;is gearing up for a big weekend at the box office as the long-delayed \"Black Widow\" is set for its theatrical release worldwide on July 9. Disney stock rose.</p><p><blockquote><ul><li>上海迪士尼乐园（DIS+0.7%）将从1月份开始提高门票价格。</li><li>该度假村表示将在1月9日提高价格，为四个等级设定新的价格：普通、普通加、高峰（夏季的大多数日子和其他旅游高峰日）和高峰加。</li><li>届时的正常价格将是435元人民币（约合67.13美元）。普通版Plus将为545元人民币（约合84.11美元）。同时，Peak price 定为 659 元（101.70 美元），Peak Plus 定为 769 元（118.67 美元）。</li><li>这导致全面增长9-10%。</li><b>迪士尼</b>随着拖延已久的《黑寡妇》将于7月9日在全球上映，正在为票房上的一个大周末做准备。迪士尼股价上涨。</ul></blockquote></p><p>  Worldwide estimates for \"Black Widow\" are as high as $140 million, according to Deadline. That doesn't include China, Marvel's biggest market, as it doesn't yet have a release date there.</p><p><blockquote>据Deadline称，全球对《黑寡妇》的估计高达1.4亿美元。这不包括漫威最大的市场中国，因为它在那里还没有上映日期。</blockquote></p><p> </ul></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>Disney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.<blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</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\">\nDisney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.<blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近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\">2021-07-09 21:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Disney&nbsp;shares&nbsp;rises&nbsp;nearly&nbsp;2%,as&nbsp;Shanghai Disneyland raising prices up to 10%.</p><p><blockquote>随着上海迪士尼乐园将价格提高到10%，迪士尼股价上涨近2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c8b245ccacada732569aab91c7bad577\" tg-width=\"803\" tg-height=\"601\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul>  <li>Shanghai Disneyland (DIS+0.7%) willraise its ticket prices starting in January.</li>  <li>The resort indicated it would boost prices on Jan. 9, setting new rates for four tiers: Regular, Regular Plus, Peak (most days in summer season and other peak visitation days), and Peak Plus.</li>  <li>The Regular price at that time will be 435 yuan (about $67.13). Regular Plus will be 545 yuan (about $84.11). Meanwhile, Peak price is set at 659 yuan ($101.70) and Peak Plus at 769 yuan ($118.67).</li>  <li>That results in increases of 9-10% across the board.</li>  <b>Disney</b>&nbsp;is gearing up for a big weekend at the box office as the long-delayed \"Black Widow\" is set for its theatrical release worldwide on July 9. Disney stock rose.</p><p><blockquote><ul><li>上海迪士尼乐园（DIS+0.7%）将从1月份开始提高门票价格。</li><li>该度假村表示将在1月9日提高价格，为四个等级设定新的价格：普通、普通加、高峰（夏季的大多数日子和其他旅游高峰日）和高峰加。</li><li>届时的正常价格将是435元人民币（约合67.13美元）。普通版Plus将为545元人民币（约合84.11美元）。同时，Peak price 定为 659 元（101.70 美元），Peak Plus 定为 769 元（118.67 美元）。</li><li>这导致全面增长9-10%。</li><b>迪士尼</b>随着拖延已久的《黑寡妇》将于7月9日在全球上映，正在为票房上的一个大周末做准备。迪士尼股价上涨。</ul></blockquote></p><p>  Worldwide estimates for \"Black Widow\" are as high as $140 million, according to Deadline. That doesn't include China, Marvel's biggest market, as it doesn't yet have a release date there.</p><p><blockquote>据Deadline称，全球对《黑寡妇》的估计高达1.4亿美元。这不包括漫威最大的市场中国，因为它在那里还没有上映日期。</blockquote></p><p> </ul></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIS":"迪士尼"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187480487","content_text":"Disney shares rises nearly 2%,as Shanghai Disneyland raising prices up to 10%.\n\n\nShanghai Disneyland (DIS+0.7%) willraise its ticket prices starting in January.\nThe resort indicated it would boost prices on Jan. 9, setting new rates for four tiers: Regular, Regular Plus, Peak (most days in summer season and other peak visitation days), and Peak Plus.\nThe Regular price at that time will be 435 yuan (about $67.13). Regular Plus will be 545 yuan (about $84.11). Meanwhile, Peak price is set at 659 yuan ($101.70) and Peak Plus at 769 yuan ($118.67).\nThat results in increases of 9-10% across the board.\nDisney is gearing up for a big weekend at the box office as the long-delayed \"Black Widow\" is set for its theatrical release worldwide on July 9. Disney stock rose.\nWorldwide estimates for \"Black Widow\" are as high as $140 million, according to Deadline. That doesn't include China, Marvel's biggest market, as it doesn't yet have a release date there.","news_type":1,"symbols_score_info":{"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":1107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140622574,"gmtCreate":1625655772698,"gmtModify":1631893214778,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Good buy","listText":"Good buy","text":"Good buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/140622574","repostId":"1136670037","repostType":4,"isVote":1,"tweetType":1,"viewCount":972,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157618493,"gmtCreate":1625580128112,"gmtModify":1631883984438,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"One of the main downside of Chinese stocks","listText":"One of the main downside of Chinese stocks","text":"One of the main downside of Chinese stocks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/157618493","repostId":"1191131157","repostType":4,"isVote":1,"tweetType":1,"viewCount":1288,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155519451,"gmtCreate":1625444424373,"gmtModify":1631893214783,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Anticipating it","listText":"Anticipating it","text":"Anticipating it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155519451","repostId":"1138258779","repostType":4,"isVote":1,"tweetType":1,"viewCount":668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155669896,"gmtCreate":1625412870815,"gmtModify":1631893214787,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/155669896","repostId":"1124717185","repostType":4,"repost":{"id":"1124717185","kind":"news","pubTimestamp":1625371001,"share":"https://www.laohunote.com/m/news/1124717185?lang=zh_CN&edition=full","pubTime":"2021-07-04 11:56","market":"us","language":"en","title":"Here's How The Laws Of Supply And Demand Lead To Major Moves For Growth Stocks<blockquote>以下是供需规律如何导致成长型股票的重大变动</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1124717185","media":"investors","summary":"The laws of supply and demand seem simple on their face, but understanding the subtle nuances is key","content":"<p>The laws of supply and demand seem simple on their face, but understanding the subtle nuances is key for stock investors who want to take advantage of major price moves.</p><p><blockquote>供求规律表面上看起来很简单，但对于想要利用重大价格波动的股票投资者来说，理解微妙的细微差别是关键。</blockquote></p><p> Supply and demand is one of the bedrock principles of business and economics. A simple recent example is how the price of lumber skyrocketed amid Covid-related shortages.</p><p><blockquote>供求是商业和经济学的基本原则之一。最近的一个简单例子是木材价格如何在与新冠病毒相关的短缺中飙升。</blockquote></p><p> In the stock market, the companies seen as the best positioned by big money will see their share price driven higher as demand ramps up. When this happens, supply will also be constricted, as holders will be more reluctant to sell their shares. Thus, supply and demand is the S in IBD'sCAN SLIM investing method, and the subject of the fourth in an Investor's Corner series.</p><p><blockquote>在股票市场上，随着需求的增加，被大笔资金视为最佳定位的公司的股价将被推高。当这种情况发生时，供应也将受到限制，因为持有者将更不愿意出售他们的股票。因此，供给和需求是IBD’sCAN SLIM投资方法中的S，也是投资者角落系列中第四部分的主题。</blockquote></p><p> Legendary IBD founder William O'Neil, writing in his classic tome, \"How to Make Money in Stocks,\" said supply and demand is \"more important than the opinions of all the analysts on Wall Street, no matter what schools they attended, what degrees they earned, or how high their IQs.\"</p><p><blockquote>传奇的 IBD 创始人威廉·奥尼尔 (William O'Neil) 在他的经典著作《如何在股票中赚钱》中写道，供求关系“比华尔街所有分析师的意见更重要，无论他们上过什么学校，获得了什么学位，或者他们的智商有多高。”</blockquote></p><p> Float Size Matters</p><p><blockquote>浮动大小很重要</blockquote></p><p> A key point to bear in mind is whether the stock you are eying has a large or a small float: the number of shares available for trading. Getting locked into a stock with a small supply of shares means you can be taken on wild rides, both on the upside and the downside.</p><p><blockquote>要记住的一个关键点是您所关注的股票的流通量是大还是小：可供交易的股票数量。被锁定在一只股票供应量很少的股票意味着你可以疯狂地骑行，无论是上行还是下行。</blockquote></p><p> On the other hand, investing in a big-cap name with a massive amount of shares outstanding means it is much more difficult for that stock to make big moves. On the plus side, this can also be less stressful on one's stomach.</p><p><blockquote>另一方面，投资于拥有大量流通股的大盘股意味着该股票更难大幅波动。从好的方面来说，这也可以减轻一个人的胃部压力。</blockquote></p><p> The ideal is to find a happy medium — a stock that boasts strong earnings growth, and one that is still expanding by offering new products and services. Also look for one that is attracting the attention of institutional investors. Nevertheless, stocks of companies with any size of capitalization can be bought byCAN SLIM investors.</p><p><blockquote>理想的情况是找到一个快乐的媒介——一只拥有强劲盈利增长的股票，一只仍在通过提供新产品和服务而扩张的股票。还要寻找一个吸引机构投资者注意力的。尽管如此，任何市值规模的公司的股票都可以被 can SLIM 投资者购买。</blockquote></p><p> Other encouraging signs to look for are companies that are buying back their stock, which reduces the supply of shares in the market.</p><p><blockquote>其他令人鼓舞的迹象是公司正在回购股票，这减少了市场上的股票供应。</blockquote></p><p> How do you measure demand?</p><p><blockquote>你如何衡量需求？</blockquote></p><p> As is often the case when researching a stock, charts are key. Look at the average daily trading volume. Days where the number of shares traded is much higher, or lower, than normal are a key indicator.</p><p><blockquote>正如研究股票时经常发生的情况一样，图表是关键。看看日均交易量。股票交易数量远高于或低于正常水平的天数是一个关键指标。</blockquote></p><p> When a share price spikes in big trading volume, this is a clear sign of institutional demand. It is a key indicator that mutual fund managers and other big money buyers, who account for most trading in the stock market, are snapping up a stock. This sort of accumulation is the main driver for big price moves.</p><p><blockquote>当股价在大量交易量中飙升时，这是机构需求的明显迹象。共同基金经理和其他大资金买家（占股票市场交易的大部分）正在抢购股票，这是一个关键指标。这种积累是价格大幅波动的主要驱动力。</blockquote></p><p> Piggybacking on such action is a proven way for the intelligent investor to succeed. But make sure to carefully study price charts to find stocks that arebreaking out of proper basesor rebounding from key chart levels. When a stock tops abuy point, ideally volume will be at least 40% above average.</p><p><blockquote>对于聪明的投资者来说，利用这种行动是一种行之有效的成功方式。但请务必仔细研究价格图表，以找到突破适当基础或从关键图表水平反弹的股票。当一只股票突破 abuy 点时，理想情况下成交量将比平均水平至少高出 40%。</blockquote></p><p> The IBD Stock Checkup is another key tool. Under the supply and demand section, you'll find pass or fail ratings for all key related criteria.</p><p><blockquote>IBD库存检查是另一个关键工具。在供应和需求部分，您可以找到所有关键相关标准的合格或不合格评级。</blockquote></p><p> That includes information on a stock's market capitalization and itsAccumulation/Distribution Rating, which gauges institutional buying and selling over the previous 13 weeks. Also, the percentage change in funds owning a stock and the number of quarters of increasing fund ownership. Look for stocks flashing green lights in all of these areas.</p><p><blockquote>其中包括有关股票市值及其累积/分布评级的信息，该评级衡量过去 13 周的机构买卖情况。此外，基金持有股票的百分比变化以及基金持股增加的季度数。寻找在所有这些领域都亮起绿灯的股票。</blockquote></p><p></p>","source":"lsy1610449120050","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's How The Laws Of Supply And Demand Lead To Major Moves For Growth Stocks<blockquote>以下是供需规律如何导致成长型股票的重大变动</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere's How The Laws Of Supply And Demand Lead To Major Moves For Growth Stocks<blockquote>以下是供需规律如何导致成长型股票的重大变动</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investors</strong><span class=\"h-time small\">2021-07-04 11:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The laws of supply and demand seem simple on their face, but understanding the subtle nuances is key for stock investors who want to take advantage of major price moves.</p><p><blockquote>供求规律表面上看起来很简单，但对于想要利用重大价格波动的股票投资者来说，理解微妙的细微差别是关键。</blockquote></p><p> Supply and demand is one of the bedrock principles of business and economics. A simple recent example is how the price of lumber skyrocketed amid Covid-related shortages.</p><p><blockquote>供求是商业和经济学的基本原则之一。最近的一个简单例子是木材价格如何在与新冠病毒相关的短缺中飙升。</blockquote></p><p> In the stock market, the companies seen as the best positioned by big money will see their share price driven higher as demand ramps up. When this happens, supply will also be constricted, as holders will be more reluctant to sell their shares. Thus, supply and demand is the S in IBD'sCAN SLIM investing method, and the subject of the fourth in an Investor's Corner series.</p><p><blockquote>在股票市场上，随着需求的增加，被大笔资金视为最佳定位的公司的股价将被推高。当这种情况发生时，供应也将受到限制，因为持有者将更不愿意出售他们的股票。因此，供给和需求是IBD’sCAN SLIM投资方法中的S，也是投资者角落系列中第四部分的主题。</blockquote></p><p> Legendary IBD founder William O'Neil, writing in his classic tome, \"How to Make Money in Stocks,\" said supply and demand is \"more important than the opinions of all the analysts on Wall Street, no matter what schools they attended, what degrees they earned, or how high their IQs.\"</p><p><blockquote>传奇的 IBD 创始人威廉·奥尼尔 (William O'Neil) 在他的经典著作《如何在股票中赚钱》中写道，供求关系“比华尔街所有分析师的意见更重要，无论他们上过什么学校，获得了什么学位，或者他们的智商有多高。”</blockquote></p><p> Float Size Matters</p><p><blockquote>浮动大小很重要</blockquote></p><p> A key point to bear in mind is whether the stock you are eying has a large or a small float: the number of shares available for trading. Getting locked into a stock with a small supply of shares means you can be taken on wild rides, both on the upside and the downside.</p><p><blockquote>要记住的一个关键点是您所关注的股票的流通量是大还是小：可供交易的股票数量。被锁定在一只股票供应量很少的股票意味着你可以疯狂地骑行，无论是上行还是下行。</blockquote></p><p> On the other hand, investing in a big-cap name with a massive amount of shares outstanding means it is much more difficult for that stock to make big moves. On the plus side, this can also be less stressful on one's stomach.</p><p><blockquote>另一方面，投资于拥有大量流通股的大盘股意味着该股票更难大幅波动。从好的方面来说，这也可以减轻一个人的胃部压力。</blockquote></p><p> The ideal is to find a happy medium — a stock that boasts strong earnings growth, and one that is still expanding by offering new products and services. Also look for one that is attracting the attention of institutional investors. Nevertheless, stocks of companies with any size of capitalization can be bought byCAN SLIM investors.</p><p><blockquote>理想的情况是找到一个快乐的媒介——一只拥有强劲盈利增长的股票，一只仍在通过提供新产品和服务而扩张的股票。还要寻找一个吸引机构投资者注意力的。尽管如此，任何市值规模的公司的股票都可以被 can SLIM 投资者购买。</blockquote></p><p> Other encouraging signs to look for are companies that are buying back their stock, which reduces the supply of shares in the market.</p><p><blockquote>其他令人鼓舞的迹象是公司正在回购股票，这减少了市场上的股票供应。</blockquote></p><p> How do you measure demand?</p><p><blockquote>你如何衡量需求？</blockquote></p><p> As is often the case when researching a stock, charts are key. Look at the average daily trading volume. Days where the number of shares traded is much higher, or lower, than normal are a key indicator.</p><p><blockquote>正如研究股票时经常发生的情况一样，图表是关键。看看日均交易量。股票交易数量远高于或低于正常水平的天数是一个关键指标。</blockquote></p><p> When a share price spikes in big trading volume, this is a clear sign of institutional demand. It is a key indicator that mutual fund managers and other big money buyers, who account for most trading in the stock market, are snapping up a stock. This sort of accumulation is the main driver for big price moves.</p><p><blockquote>当股价在大量交易量中飙升时，这是机构需求的明显迹象。共同基金经理和其他大资金买家（占股票市场交易的大部分）正在抢购股票，这是一个关键指标。这种积累是价格大幅波动的主要驱动力。</blockquote></p><p> Piggybacking on such action is a proven way for the intelligent investor to succeed. But make sure to carefully study price charts to find stocks that arebreaking out of proper basesor rebounding from key chart levels. When a stock tops abuy point, ideally volume will be at least 40% above average.</p><p><blockquote>对于聪明的投资者来说，利用这种行动是一种行之有效的成功方式。但请务必仔细研究价格图表，以找到突破适当基础或从关键图表水平反弹的股票。当一只股票突破 abuy 点时，理想情况下成交量将比平均水平至少高出 40%。</blockquote></p><p> The IBD Stock Checkup is another key tool. Under the supply and demand section, you'll find pass or fail ratings for all key related criteria.</p><p><blockquote>IBD库存检查是另一个关键工具。在供应和需求部分，您可以找到所有关键相关标准的合格或不合格评级。</blockquote></p><p> That includes information on a stock's market capitalization and itsAccumulation/Distribution Rating, which gauges institutional buying and selling over the previous 13 weeks. Also, the percentage change in funds owning a stock and the number of quarters of increasing fund ownership. Look for stocks flashing green lights in all of these areas.</p><p><blockquote>其中包括有关股票市值及其累积/分布评级的信息，该评级衡量过去 13 周的机构买卖情况。此外，基金持有股票的百分比变化以及基金持股增加的季度数。寻找在所有这些领域都亮起绿灯的股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/how-to-invest/investors-corner/heres-how-the-laws-of-supply-and-demand-lead-to-major-moves-for-growth-stocks/?src=A00220\">investors</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":{},"source_url":"https://www.investors.com/how-to-invest/investors-corner/heres-how-the-laws-of-supply-and-demand-lead-to-major-moves-for-growth-stocks/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124717185","content_text":"The laws of supply and demand seem simple on their face, but understanding the subtle nuances is key for stock investors who want to take advantage of major price moves.\nSupply and demand is one of the bedrock principles of business and economics. A simple recent example is how the price of lumber skyrocketed amid Covid-related shortages.\nIn the stock market, the companies seen as the best positioned by big money will see their share price driven higher as demand ramps up. When this happens, supply will also be constricted, as holders will be more reluctant to sell their shares. Thus, supply and demand is the S in IBD'sCAN SLIM investing method, and the subject of the fourth in an Investor's Corner series.\nLegendary IBD founder William O'Neil, writing in his classic tome, \"How to Make Money in Stocks,\" said supply and demand is \"more important than the opinions of all the analysts on Wall Street, no matter what schools they attended, what degrees they earned, or how high their IQs.\"\nFloat Size Matters\nA key point to bear in mind is whether the stock you are eying has a large or a small float: the number of shares available for trading. Getting locked into a stock with a small supply of shares means you can be taken on wild rides, both on the upside and the downside.\nOn the other hand, investing in a big-cap name with a massive amount of shares outstanding means it is much more difficult for that stock to make big moves. On the plus side, this can also be less stressful on one's stomach.\nThe ideal is to find a happy medium — a stock that boasts strong earnings growth, and one that is still expanding by offering new products and services. Also look for one that is attracting the attention of institutional investors. Nevertheless, stocks of companies with any size of capitalization can be bought byCAN SLIM investors.\nOther encouraging signs to look for are companies that are buying back their stock, which reduces the supply of shares in the market.\nHow do you measure demand?\nAs is often the case when researching a stock, charts are key. Look at the average daily trading volume. Days where the number of shares traded is much higher, or lower, than normal are a key indicator.\nWhen a share price spikes in big trading volume, this is a clear sign of institutional demand. It is a key indicator that mutual fund managers and other big money buyers, who account for most trading in the stock market, are snapping up a stock. This sort of accumulation is the main driver for big price moves.\nPiggybacking on such action is a proven way for the intelligent investor to succeed. But make sure to carefully study price charts to find stocks that arebreaking out of proper basesor rebounding from key chart levels. When a stock tops abuy point, ideally volume will be at least 40% above average.\nThe IBD Stock Checkup is another key tool. Under the supply and demand section, you'll find pass or fail ratings for all key related criteria.\nThat includes information on a stock's market capitalization and itsAccumulation/Distribution Rating, which gauges institutional buying and selling over the previous 13 weeks. Also, the percentage change in funds owning a stock and the number of quarters of increasing fund ownership. Look for stocks flashing green lights in all of these areas.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":957,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152585783,"gmtCreate":1625313386542,"gmtModify":1631893214785,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"//<a href=\"https://laohu8.com/U/3556106904986319\">@Joshuatan</a>:Hold your stocks if you believe in the company in the long terms","listText":"//<a href=\"https://laohu8.com/U/3556106904986319\">@Joshuatan</a>:Hold your stocks if you believe in the company in the long terms","text":"//@Joshuatan:Hold your stocks if you believe in the company in the long terms","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/152585783","repostId":"2134551566","repostType":4,"isVote":1,"tweetType":1,"viewCount":1158,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156541413,"gmtCreate":1625232582232,"gmtModify":1631893214788,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"🤔&nbsp;","listText":"🤔&nbsp;","text":"🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/156541413","repostId":"2148870449","repostType":4,"isVote":1,"tweetType":1,"viewCount":951,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158281361,"gmtCreate":1625151230053,"gmtModify":1631893214795,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"NIO gank","listText":"NIO gank","text":"NIO gank","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158281361","repostId":"1131141642","repostType":4,"repost":{"id":"1131141642","kind":"news","pubTimestamp":1625150313,"share":"https://www.laohunote.com/m/news/1131141642?lang=zh_CN&edition=full","pubTime":"2021-07-01 22:38","market":"us","language":"en","title":"NIO Vs BYD Auto: Which EV Stock Is A Good Buy?<blockquote>蔚来与比亚迪汽车：哪只电动汽车股票值得购买？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131141642","media":"seekingalpha","summary":"China is a leading EV market, and it looks like Chinese players will have it easier in their home market compared to foreign companies.Both NIO and BYD have attractive offerings on the market and employ strategies that differentiate them from competitors.NIO is the higher-growth pick, while BYD is the better value play. Both could be attractive picks for the long run.That is about half as much as the gains experienced by NIO, but slightly more than the gains experienced by Tesla. Overall, a 300%","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>China is a leading EV market, and it looks like Chinese players will have it easier in their home market compared to foreign companies.</li>  <li>Both NIO and BYD have attractive offerings on the market and employ strategies that differentiate them from competitors.</li>  <li>NIO is the higher-growth pick, while BYD is the better value play. Both could be attractive picks for the long run.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/85f5123d1a2c682db80316343dba1e5b\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"><span>baona/iStock via Getty Images</span></p><p><blockquote><ul><li>中国是领先的电动汽车市场，与外国公司相比，中国企业在国内市场的日子似乎会更轻松。</li><li>蔚来和比亚迪在市场上都有有吸引力的产品，并采用了使其与竞争对手区分开来的策略。</li><li>蔚来是增长较高的选择，而比亚迪是价值更好的选择。从长远来看，两者都可能是有吸引力的选择。</li></ul><p class=\"t-img-caption\"><span>baona/iStock 来自盖蒂图片社</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> EV stocks have been strong performers in 2020 on the back of strong market growth and helpful government policies. China has turned into one of the most important markets for electric vehicles, and since the Chinese government is oftentimes accommodating to Chinese companies, it makes sense to look among Chinese EV players for exposure to this high-growth market. Both BYD Company(OTCPK:BYDDY)(OTCPK:BYDDF)and NIO Inc.(NYSE:NIO)fit that description, and they both generate compelling growth and are on a strong trajectory. They differ, however, when it comes to the strategies they utilize in order to fuel growth, and there are differences in the respective valuation as well. Depending on your investment approach, you may either favor BYD or NIO.</p><p><blockquote>在强劲的市场增长和有益的政府政策的支持下，电动汽车股票在2020年表现强劲。中国已成为电动汽车最重要的市场之一，由于中国政府经常迁就中国公司，因此在中国电动汽车企业中寻找进入这个高增长市场的机会是有意义的。比亚迪公司 (OTCPK:BYDDY)(OTCPK:BYDDF) 和蔚来 (NYSE:NIO) 都符合这一描述，它们都实现了令人信服的增长，并且正处于强劲的发展轨道上。然而，它们在促进增长的策略上有所不同，各自的估值也存在差异。根据您的投资方式，您可能更喜欢比亚迪或蔚来。</blockquote></p><p> <b>NIO Stock Price</b></p><p><blockquote><b>蔚来股价</b></blockquote></p><p> NIO saw its shares rally massively over the last year, as they delivered gains of 600% in just twelve months:</p><p><blockquote>蔚来的股价去年大幅上涨，在短短 12 个月内上涨了 600%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f8bdb6f898b23023b1240e557370891c\" tg-width=\"635\" tg-height=\"417\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> This was easily more than what the broad market generated, and also outperformed peers such as Tesla(NASDAQ:TSLA), which gained about 240% over the same time frame. It should, however, be noted that NIO experienced a steep selloff in spring 2021, as its shares declined by close to 50% between January and May, before starting to climb again in recent weeks. When we take a look at current analyst price targets, NIO has an upside of around 20%, as analysts have a target price of $60, versus a current share price of $50.</p><p><blockquote>这轻松超过了大盘的表现，也优于特斯拉（纳斯达克股票代码：TSLA）等同行，后者在同一时期上涨了约 240%。然而，值得注意的是，蔚来在 2021 年春季经历了大幅抛售，其股价在 1 月至 5 月期间下跌了近 50%，然后在最近几周再次开始攀升。当我们查看当前分析师的目标价时，蔚来的上涨空间约为 20%，因为分析师的目标价为 60 美元，而当前股价为 50 美元。</blockquote></p><p> When looking at NIO's valuation, we can't really use an earnings multiple here, as NIO is not yet profitable. It is pretty clear, however, that NIO, with a market capitalization of $81 billion, is priced for a lot of future growth -- which holds true for other EV pureplays as well. For reference, that is a higher market capitalization than that of many legacy auto companies, including Ford(NYSE:F)and BMW(OTCPK:BMWYY), which indicates that NIO may be aggressively valued right here, considering that it sells way fewer cars than these two companies.</p><p><blockquote>在查看蔚来的估值时，我们不能在这里真正使用市盈率，因为蔚来尚未盈利。然而，很明显，市值为 810 亿美元的蔚来有望实现未来的大幅增长——其他电动汽车 Pureplay 也是如此。作为参考，这一市值高于许多传统汽车公司，包括福特 (NYSE:F) 和宝马 (OTCPK:BMWYY)，这表明考虑到蔚来的销量远少于这两家公司，它在这里的估值可能会很高。</blockquote></p><p> <b>BYDDY Stock Price</b></p><p><blockquote><b>比亚迪股价</b></blockquote></p><p> BYD Company has, like other EV players, benefitted a lot from growing EV enthusiasm over the last year, as its shares rose by 300% in twelve months:</p><p><blockquote>与其他电动汽车企业一样，比亚迪公司从去年日益增长的电动汽车热情中受益匪浅，其股价在 12 个月内上涨了 300%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d77e1b86412ba77229dd4779269265a\" tg-width=\"635\" tg-height=\"417\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> That is about half as much as the gains experienced by NIO, but slightly more than the gains experienced by Tesla. Overall, a 300% gain in one year is, of course, outstanding -- and investors should not expect this to repeat in future years. Like NIO, BYD has experienced a steep selloff in spring, but BYD has also recovered most of that in recent weeks. Unlike NIO, BYD is profitable already, although only marginally. Shares are trading for around 130x trailing earnings today, which isn't a low valuation at all, but which compares favorably to the valuations some other EV stocks are trading at, such as Tesla, which trades for more than 600x trailing net profits.</p><p><blockquote>这大约是蔚来获得的收益的一半，但略高于特斯拉获得的收益。总体而言，一年内 300% 的涨幅当然是出色的，投资者不应指望这种情况在未来几年会重演。与蔚来一样，比亚迪在春季也经历了大幅抛售，但比亚迪最近几周也恢复了大部分抛售。与蔚来不同，比亚迪已经盈利，尽管盈利幅度很小。今天的股价交易价格约为历史市盈率的 130 倍，这根本不是一个低估值，但与其他一些电动汽车股票的估值相比，例如特斯拉，其交易价格超过 600 倍追踪净利润。</blockquote></p><p> <b>NIO Vs BYD Auto: Which Is The Better EV Stock?</b></p><p><blockquote><b>蔚来与比亚迪汽车：哪只电动汽车股票更好？</b></blockquote></p><p> The EV segment of the global automobile industry experiences rapid growth, and that naturally makes EV stocks attractive as growth investments. It should, however, be noted that valuations should always be considered when investing, and depending on the price one pays for a growth investment, it may take quite some time to see gains. Investors that chased high-growth tech stocks during the dot.com bubble, for example, had to wait years for their investments to pay off if they bought at the highs. All the growth in the EV space may thus be for naught if investors chase stocks and pay a price that is too high.</p><p><blockquote>全球汽车行业的电动汽车细分市场正在经历快速增长，这自然使得电动汽车股票作为成长型投资具有吸引力。然而，应该注意的是，投资时应始终考虑估值，根据一个人为成长型投资支付的价格，可能需要相当长的时间才能看到收益。例如，在互联网泡沫期间追逐高增长科技股的投资者，如果在高位买入，则必须等待数年才能获得投资回报。因此，如果投资者追逐股票并支付过高的价格，电动汽车领域的所有增长可能都是徒劳的。</blockquote></p><p> On top of that, the global automobile industry is, generally speaking, competitive, capital intensive, cyclical, and margins for most players are relatively low. That being said, the large growth runway for EVs means that quality EV companies will likely see their revenues and profits grow at a strong pace for many years, and thus a long-term oriented investor may still be intrigued by these stocks.</p><p><blockquote>最重要的是，一般来说，全球汽车行业竞争激烈、资本密集型、周期性强，大多数参与者的利润率相对较低。话虽如此，电动汽车的巨大增长跑道意味着优质电动汽车公司的收入和利润可能会在未来多年内以强劲的速度增长，因此长期投资者可能仍然会对这些股票感兴趣。</blockquote></p><p></p><p> NIO and BYD are employing different strategies when it comes to the EV market, and both of those strategies have merit, I believe. NIO is focused on higher-end, quality passenger EVs that are primarily sold in China, although NIO is also entering the European car market this summer. The company offers a range of different models, from sports cars to SUVs. Due to strong built quality and the usage of high-end materials, NIO cars are seen as premium products worthy of a high price in China. NIO has, despite its relatively young history, managed to build a strong brand in its home market already, which positions the company well for future success in the Chinese EV space.</p><p><blockquote>蔚来和比亚迪在电动汽车市场采取了不同的策略，我相信这两种策略都有其优点。蔚来专注于主要在中国销售的高端、优质乘用电动汽车，尽管蔚来今年夏天也将进入欧洲汽车市场。该公司提供一系列不同的车型，从跑车到SUV。由于强大的制造质量和高端材料的使用，蔚来汽车在国内被视为值得高价的优质产品。尽管蔚来的历史相对较新，但它已经成功地在国内市场建立了一个强大的品牌，这使得该公司在中国电动汽车领域的未来成功处于有利地位。</blockquote></p><p> NIO also offers a unique Battery-as-a-Service product that allows customers to swap batteries at NIO's battery-swapping stations. This reduces the time to recharge to a couple of minutes, which compares very favorably to the significantly longer charging times of other EV models. For those that are reluctant to buy an EV because they worry about a lot of downtime, NIO's cars could thus be an EV offering that they might still consider. I see this USP as a potential long-term growth driver for NIO that should help the company gain market share in this highly competitive market. It should, however, be noted that building out these battery-swapping stations in all relevant markets will cost a lot of money, thus capital expenditures for NIO will likely be higher than those of other EV players. NIO delivered&nbsp;500%+&nbsp;revenue growth in Q1 and will deliver strong revenue growth going forward, too:</p><p><blockquote>蔚来还提供独特的电池即服务产品，允许客户在蔚来的换电站更换电池。这将充电时间缩短到几分钟，与其他电动汽车车型明显更长的充电时间相比非常有利。对于那些因为担心大量停机时间而不愿意购买电动汽车的人来说，蔚来汽车可能是他们仍然可以考虑的电动汽车产品。我认为这个USP是蔚来潜在的长期增长动力，应该有助于该公司在这个竞争激烈的市场中获得市场份额。但需要注意的是，在所有相关市场建设这些换电站将花费大量资金，因此蔚来的资本支出可能会高于其他电动汽车厂商。蔚来第一季度收入增长 500% 以上，未来也将实现强劲的收入增长：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cef4405a87e449cbbef819ea69e868d1\" tg-width=\"635\" tg-height=\"467\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> Current consensus estimates call for a 125% revenue increase this year, while revenues will grow by 63% next year and by 47% in 2023. This represents strong growth and is significantly more than what analysts expect from the current market leader Tesla, although it should be noted that NIO is growing from a smaller base.</p><p><blockquote>目前的共识预计看涨期权今年的收入将增长 125%，而明年的收入将增长 63%，2023 年收入将增长 47%。这代表着强劲的增长，远远超出分析师对当前市场领导者特斯拉的预期，尽管应该指出的是，蔚来的增长基础较小。</blockquote></p><p> BYD is a lesser-known Chinese EV player that is nevertheless pursuing an attractive strategy as well. BYD is not focused on higher-end passenger vehicles alone, but instead is offering a wide range of commercial EVs on top of that. Its offerings include electricity-powered trucks and electricity-powered busses, for example, which have a lot of potential over the coming years. Getting rid of diesel-powered busses could lead to better air quality in dense cities, and due to low average speeds and low average distances that are driven by busses, range is not too much of a concern. BYD is also offering other electric technologies, however, including a monorail system called Skyrail that is being built in China, but also in overseas markets such as Brazil.</p><p><blockquote>比亚迪是一家鲜为人知的中国电动汽车制造商，但它也在奉行有吸引力的战略。比亚迪并不只专注于高端乘用车，而是在此基础上提供广泛的商用电动汽车。例如，其产品包括电动卡车和电动公共汽车，这些产品在未来几年具有很大的潜力。取消柴油动力公交车可能会改善人口密集城市的空气质量，而且由于公交车的平均速度低，平均行驶距离短，续航里程并不是一个大问题。不过，比亚迪还提供其他电动技术，包括正在中国以及巴西等海外市场建造的名为 Skyrail 的单轨系统。</blockquote></p><p> BYD also is a major battery manufacturer, which naturally gives BYD exposure to the EV space as a whole. Even when other manufacturers are selling EVs, they oftentimes are not producing their own batteries, but instead they buy those from companies such as BYD. BYD can thus, unlike many other EV companies, also profit from the growth of its competitors. This is especially great since it is not yet known which EV company will ultimately lead the market a decade or two from now -- but it is guaranteed that the market leader will need batteries to manufacture its vehicles.</p><p><blockquote>比亚迪也是一家主要的电池制造商，这自然让比亚迪能够接触到整个电动汽车领域。即使其他制造商销售电动汽车，他们也往往不生产自己的电池，而是从比亚迪等公司购买电池。因此，与许多其他电动汽车公司不同，比亚迪也可以从竞争对手的增长中获利。这一点尤其重要，因为目前尚不清楚十年或二十年后哪家电动汽车公司最终将引领市场，但可以肯定的是，市场领导者将需要电池来制造其车辆。</blockquote></p><p> BYD does, however, also produce its own passenger EVs (hybrids and BEVs), which means that it is not solely a supplier. Its Han model has been&nbsp;quite successful&nbsp;in its home market, making BYD a lesser-known but pretty successful contender for EV market share. Unlike NIO, BYD is profitable already, and its valuation seems to be one of the lowest in the EV space. This is, I believe, at least partially the result of an understaffed investor relations department. Contrasting how much information (in English) is available on NIO with how much information English-speaking investors can get on BYD shows a wide discrepancy, which likely explains why NIO is followed more widely -- despite being the smaller company. BYD generated revenue of $22 billion in 2020, and that amount is forecasted to grow to $29 billion this year, and to $34 billion in 2022. BYD is thus forecasted to grow at a rate that is somewhat slower than NIO's growth rate, but BYD's forecasted revenue for 2022 is about 4x as high as that of NIO. It thus may come as a surprise that BYD's market capitalization of $100 billion is only slightly higher than that of NIO, despite being a much larger, and more profitable, enterprise. Once again, I believe that this is at least partially caused by the fact that BYD is just not as well-known outside of China, and that many retail investors thus flock to the better-known, more prominent NIO.</p><p><blockquote>然而，比亚迪也生产自己的乘用电动汽车（混合动力汽车和纯电动汽车），这意味着它不仅仅是一家供应商。其汉车型在国内市场相当成功，使比亚迪成为不太知名但相当成功的电动汽车市场份额竞争者。与蔚来不同，比亚迪已经盈利，其估值似乎是电动汽车领域最低的之一。我认为，这至少部分是投资者关系部门人手不足的结果。将蔚来上可用的信息（英文）数量与讲英语的投资者可以获得的信息数量进行对比，可以发现存在很大的差异，这可能解释了为什么蔚来受到更广泛的关注——尽管它是一家规模较小的公司。比亚迪2020年的收入为220亿美元，预计今年将增长至290亿美元，2022年将增长至340亿美元。因此，比亚迪的增长速度预计将比蔚来汽车的增长速度稍慢，但比亚迪2022年的预计收入约为蔚来的4倍。因此，尽管比亚迪是一家规模更大、利润更高的企业，但其 1000 亿美元的市值仅略高于蔚来，这可能令人惊讶。我再次认为，这至少部分是由于比亚迪在中国以外的知名度不高，许多散户投资者因此涌向更知名、更突出的蔚来。</blockquote></p><p> <b>Should You Buy NIO Or BYD Auto</b></p><p><blockquote><b>您应该购买蔚来还是比亚迪汽车</b></blockquote></p><p></p><p> As stated earlier, investing in high-growth companies will not automatically lead to steep returns, as valuations play a major role as well. NIO is the higher-growth pick, and its BaaS service and strong brand position it well for future success, I believe. On the other hand, NIO's shares are quite expensive, trading for close to 10x next year's revenue right now. BYD is a lower-growth pick, but its diversified operations across passenger EVs, commercial EVs, and its battery business will likely lead to ample revenue and earnings growth for many years nevertheless. BYD is, as one of just a few EV players profitable already, which naturally is a major plus, and BYD's much lower valuation also makes shares look attractive. Shares trade for ~3x next year's revenue, which does not seem unreasonable, considering that many other EV stocks are trading for 10x revenue or even more. The fact that BYD is backed by Buffett's Berkshire(NYSE:BRK.A)(NYSE:BRK.B)is also a nice-to-have.</p><p><blockquote>如前所述，投资高增长公司不会自动带来高额回报，因为估值也起着重要作用。我相信，蔚来是增长较高的选择，其 BaaS 服务和强大的品牌为其未来的成功奠定了良好的基础。另一方面，蔚来汽车的股价相当昂贵，目前的交易价格接近明年收入的 10 倍。比亚迪是一个增长较低的选择，但其乘用车电动汽车、商用电动汽车和电池业务的多元化运营可能会在未来许多年内带来充足的收入和盈利增长。比亚迪是少数几个已经盈利的电动汽车企业之一，这自然是一个很大的优势，而且比亚迪低得多的估值也使其股票看起来很有吸引力。股票交易价格约为明年收入的 3 倍，考虑到许多其他电动汽车股票的交易价格是明年收入的 10 倍甚至更多，这似乎并非不合理。比亚迪得到巴菲特旗下伯克希尔哈撒韦公司（纽约证券交易所股票代码：BRK.A）（纽约证券交易所股票代码：BRK.B）的支持也是一件好事。</blockquote></p><p> Depending on whether you prioritize growth or value, you may either prefer NIO or BYD -- both companies seem like picks with ample long-term potential, although neither are guaranteed winners, which is why don't rate either a screaming buy.</p><p><blockquote>根据您是优先考虑增长还是价值，您可能更喜欢蔚来或比亚迪——这两家公司似乎都是具有充足长期潜力的选择，尽管两家公司都不能保证获胜，这就是为什么不要大声买入。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO Vs BYD Auto: Which EV Stock Is A Good Buy?<blockquote>蔚来与比亚迪汽车：哪只电动汽车股票值得购买？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO Vs BYD Auto: Which EV Stock Is A Good Buy?<blockquote>蔚来与比亚迪汽车：哪只电动汽车股票值得购买？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-01 22:38</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>China is a leading EV market, and it looks like Chinese players will have it easier in their home market compared to foreign companies.</li>  <li>Both NIO and BYD have attractive offerings on the market and employ strategies that differentiate them from competitors.</li>  <li>NIO is the higher-growth pick, while BYD is the better value play. Both could be attractive picks for the long run.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/85f5123d1a2c682db80316343dba1e5b\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"><span>baona/iStock via Getty Images</span></p><p><blockquote><ul><li>中国是领先的电动汽车市场，与外国公司相比，中国企业在国内市场的日子似乎会更轻松。</li><li>蔚来和比亚迪在市场上都有有吸引力的产品，并采用了使其与竞争对手区分开来的策略。</li><li>蔚来是增长较高的选择，而比亚迪是价值更好的选择。从长远来看，两者都可能是有吸引力的选择。</li></ul><p class=\"t-img-caption\"><span>baona/iStock 来自盖蒂图片社</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> EV stocks have been strong performers in 2020 on the back of strong market growth and helpful government policies. China has turned into one of the most important markets for electric vehicles, and since the Chinese government is oftentimes accommodating to Chinese companies, it makes sense to look among Chinese EV players for exposure to this high-growth market. Both BYD Company(OTCPK:BYDDY)(OTCPK:BYDDF)and NIO Inc.(NYSE:NIO)fit that description, and they both generate compelling growth and are on a strong trajectory. They differ, however, when it comes to the strategies they utilize in order to fuel growth, and there are differences in the respective valuation as well. Depending on your investment approach, you may either favor BYD or NIO.</p><p><blockquote>在强劲的市场增长和有益的政府政策的支持下，电动汽车股票在2020年表现强劲。中国已成为电动汽车最重要的市场之一，由于中国政府经常迁就中国公司，因此在中国电动汽车企业中寻找进入这个高增长市场的机会是有意义的。比亚迪公司 (OTCPK:BYDDY)(OTCPK:BYDDF) 和蔚来 (NYSE:NIO) 都符合这一描述，它们都实现了令人信服的增长，并且正处于强劲的发展轨道上。然而，它们在促进增长的策略上有所不同，各自的估值也存在差异。根据您的投资方式，您可能更喜欢比亚迪或蔚来。</blockquote></p><p> <b>NIO Stock Price</b></p><p><blockquote><b>蔚来股价</b></blockquote></p><p> NIO saw its shares rally massively over the last year, as they delivered gains of 600% in just twelve months:</p><p><blockquote>蔚来的股价去年大幅上涨，在短短 12 个月内上涨了 600%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f8bdb6f898b23023b1240e557370891c\" tg-width=\"635\" tg-height=\"417\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> This was easily more than what the broad market generated, and also outperformed peers such as Tesla(NASDAQ:TSLA), which gained about 240% over the same time frame. It should, however, be noted that NIO experienced a steep selloff in spring 2021, as its shares declined by close to 50% between January and May, before starting to climb again in recent weeks. When we take a look at current analyst price targets, NIO has an upside of around 20%, as analysts have a target price of $60, versus a current share price of $50.</p><p><blockquote>这轻松超过了大盘的表现，也优于特斯拉（纳斯达克股票代码：TSLA）等同行，后者在同一时期上涨了约 240%。然而，值得注意的是，蔚来在 2021 年春季经历了大幅抛售，其股价在 1 月至 5 月期间下跌了近 50%，然后在最近几周再次开始攀升。当我们查看当前分析师的目标价时，蔚来的上涨空间约为 20%，因为分析师的目标价为 60 美元，而当前股价为 50 美元。</blockquote></p><p> When looking at NIO's valuation, we can't really use an earnings multiple here, as NIO is not yet profitable. It is pretty clear, however, that NIO, with a market capitalization of $81 billion, is priced for a lot of future growth -- which holds true for other EV pureplays as well. For reference, that is a higher market capitalization than that of many legacy auto companies, including Ford(NYSE:F)and BMW(OTCPK:BMWYY), which indicates that NIO may be aggressively valued right here, considering that it sells way fewer cars than these two companies.</p><p><blockquote>在查看蔚来的估值时，我们不能在这里真正使用市盈率，因为蔚来尚未盈利。然而，很明显，市值为 810 亿美元的蔚来有望实现未来的大幅增长——其他电动汽车 Pureplay 也是如此。作为参考，这一市值高于许多传统汽车公司，包括福特 (NYSE:F) 和宝马 (OTCPK:BMWYY)，这表明考虑到蔚来的销量远少于这两家公司，它在这里的估值可能会很高。</blockquote></p><p> <b>BYDDY Stock Price</b></p><p><blockquote><b>比亚迪股价</b></blockquote></p><p> BYD Company has, like other EV players, benefitted a lot from growing EV enthusiasm over the last year, as its shares rose by 300% in twelve months:</p><p><blockquote>与其他电动汽车企业一样，比亚迪公司从去年日益增长的电动汽车热情中受益匪浅，其股价在 12 个月内上涨了 300%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d77e1b86412ba77229dd4779269265a\" tg-width=\"635\" tg-height=\"417\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> That is about half as much as the gains experienced by NIO, but slightly more than the gains experienced by Tesla. Overall, a 300% gain in one year is, of course, outstanding -- and investors should not expect this to repeat in future years. Like NIO, BYD has experienced a steep selloff in spring, but BYD has also recovered most of that in recent weeks. Unlike NIO, BYD is profitable already, although only marginally. Shares are trading for around 130x trailing earnings today, which isn't a low valuation at all, but which compares favorably to the valuations some other EV stocks are trading at, such as Tesla, which trades for more than 600x trailing net profits.</p><p><blockquote>这大约是蔚来获得的收益的一半，但略高于特斯拉获得的收益。总体而言，一年内 300% 的涨幅当然是出色的，投资者不应指望这种情况在未来几年会重演。与蔚来一样，比亚迪在春季也经历了大幅抛售，但比亚迪最近几周也恢复了大部分抛售。与蔚来不同，比亚迪已经盈利，尽管盈利幅度很小。今天的股价交易价格约为历史市盈率的 130 倍，这根本不是一个低估值，但与其他一些电动汽车股票的估值相比，例如特斯拉，其交易价格超过 600 倍追踪净利润。</blockquote></p><p> <b>NIO Vs BYD Auto: Which Is The Better EV Stock?</b></p><p><blockquote><b>蔚来与比亚迪汽车：哪只电动汽车股票更好？</b></blockquote></p><p> The EV segment of the global automobile industry experiences rapid growth, and that naturally makes EV stocks attractive as growth investments. It should, however, be noted that valuations should always be considered when investing, and depending on the price one pays for a growth investment, it may take quite some time to see gains. Investors that chased high-growth tech stocks during the dot.com bubble, for example, had to wait years for their investments to pay off if they bought at the highs. All the growth in the EV space may thus be for naught if investors chase stocks and pay a price that is too high.</p><p><blockquote>全球汽车行业的电动汽车细分市场正在经历快速增长，这自然使得电动汽车股票作为成长型投资具有吸引力。然而，应该注意的是，投资时应始终考虑估值，根据一个人为成长型投资支付的价格，可能需要相当长的时间才能看到收益。例如，在互联网泡沫期间追逐高增长科技股的投资者，如果在高位买入，则必须等待数年才能获得投资回报。因此，如果投资者追逐股票并支付过高的价格，电动汽车领域的所有增长可能都是徒劳的。</blockquote></p><p> On top of that, the global automobile industry is, generally speaking, competitive, capital intensive, cyclical, and margins for most players are relatively low. That being said, the large growth runway for EVs means that quality EV companies will likely see their revenues and profits grow at a strong pace for many years, and thus a long-term oriented investor may still be intrigued by these stocks.</p><p><blockquote>最重要的是，一般来说，全球汽车行业竞争激烈、资本密集型、周期性强，大多数参与者的利润率相对较低。话虽如此，电动汽车的巨大增长跑道意味着优质电动汽车公司的收入和利润可能会在未来多年内以强劲的速度增长，因此长期投资者可能仍然会对这些股票感兴趣。</blockquote></p><p></p><p> NIO and BYD are employing different strategies when it comes to the EV market, and both of those strategies have merit, I believe. NIO is focused on higher-end, quality passenger EVs that are primarily sold in China, although NIO is also entering the European car market this summer. The company offers a range of different models, from sports cars to SUVs. Due to strong built quality and the usage of high-end materials, NIO cars are seen as premium products worthy of a high price in China. NIO has, despite its relatively young history, managed to build a strong brand in its home market already, which positions the company well for future success in the Chinese EV space.</p><p><blockquote>蔚来和比亚迪在电动汽车市场采取了不同的策略，我相信这两种策略都有其优点。蔚来专注于主要在中国销售的高端、优质乘用电动汽车，尽管蔚来今年夏天也将进入欧洲汽车市场。该公司提供一系列不同的车型，从跑车到SUV。由于强大的制造质量和高端材料的使用，蔚来汽车在国内被视为值得高价的优质产品。尽管蔚来的历史相对较新，但它已经成功地在国内市场建立了一个强大的品牌，这使得该公司在中国电动汽车领域的未来成功处于有利地位。</blockquote></p><p> NIO also offers a unique Battery-as-a-Service product that allows customers to swap batteries at NIO's battery-swapping stations. This reduces the time to recharge to a couple of minutes, which compares very favorably to the significantly longer charging times of other EV models. For those that are reluctant to buy an EV because they worry about a lot of downtime, NIO's cars could thus be an EV offering that they might still consider. I see this USP as a potential long-term growth driver for NIO that should help the company gain market share in this highly competitive market. It should, however, be noted that building out these battery-swapping stations in all relevant markets will cost a lot of money, thus capital expenditures for NIO will likely be higher than those of other EV players. NIO delivered&nbsp;500%+&nbsp;revenue growth in Q1 and will deliver strong revenue growth going forward, too:</p><p><blockquote>蔚来还提供独特的电池即服务产品，允许客户在蔚来的换电站更换电池。这将充电时间缩短到几分钟，与其他电动汽车车型明显更长的充电时间相比非常有利。对于那些因为担心大量停机时间而不愿意购买电动汽车的人来说，蔚来汽车可能是他们仍然可以考虑的电动汽车产品。我认为这个USP是蔚来潜在的长期增长动力，应该有助于该公司在这个竞争激烈的市场中获得市场份额。但需要注意的是，在所有相关市场建设这些换电站将花费大量资金，因此蔚来的资本支出可能会高于其他电动汽车厂商。蔚来第一季度收入增长 500% 以上，未来也将实现强劲的收入增长：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cef4405a87e449cbbef819ea69e868d1\" tg-width=\"635\" tg-height=\"467\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCharts提供</span></p></blockquote></p><p> Current consensus estimates call for a 125% revenue increase this year, while revenues will grow by 63% next year and by 47% in 2023. This represents strong growth and is significantly more than what analysts expect from the current market leader Tesla, although it should be noted that NIO is growing from a smaller base.</p><p><blockquote>目前的共识预计看涨期权今年的收入将增长 125%，而明年的收入将增长 63%，2023 年收入将增长 47%。这代表着强劲的增长，远远超出分析师对当前市场领导者特斯拉的预期，尽管应该指出的是，蔚来的增长基础较小。</blockquote></p><p> BYD is a lesser-known Chinese EV player that is nevertheless pursuing an attractive strategy as well. BYD is not focused on higher-end passenger vehicles alone, but instead is offering a wide range of commercial EVs on top of that. Its offerings include electricity-powered trucks and electricity-powered busses, for example, which have a lot of potential over the coming years. Getting rid of diesel-powered busses could lead to better air quality in dense cities, and due to low average speeds and low average distances that are driven by busses, range is not too much of a concern. BYD is also offering other electric technologies, however, including a monorail system called Skyrail that is being built in China, but also in overseas markets such as Brazil.</p><p><blockquote>比亚迪是一家鲜为人知的中国电动汽车制造商，但它也在奉行有吸引力的战略。比亚迪并不只专注于高端乘用车，而是在此基础上提供广泛的商用电动汽车。例如，其产品包括电动卡车和电动公共汽车，这些产品在未来几年具有很大的潜力。取消柴油动力公交车可能会改善人口密集城市的空气质量，而且由于公交车的平均速度低，平均行驶距离短，续航里程并不是一个大问题。不过，比亚迪还提供其他电动技术，包括正在中国以及巴西等海外市场建造的名为 Skyrail 的单轨系统。</blockquote></p><p> BYD also is a major battery manufacturer, which naturally gives BYD exposure to the EV space as a whole. Even when other manufacturers are selling EVs, they oftentimes are not producing their own batteries, but instead they buy those from companies such as BYD. BYD can thus, unlike many other EV companies, also profit from the growth of its competitors. This is especially great since it is not yet known which EV company will ultimately lead the market a decade or two from now -- but it is guaranteed that the market leader will need batteries to manufacture its vehicles.</p><p><blockquote>比亚迪也是一家主要的电池制造商，这自然让比亚迪能够接触到整个电动汽车领域。即使其他制造商销售电动汽车，他们也往往不生产自己的电池，而是从比亚迪等公司购买电池。因此，与许多其他电动汽车公司不同，比亚迪也可以从竞争对手的增长中获利。这一点尤其重要，因为目前尚不清楚十年或二十年后哪家电动汽车公司最终将引领市场，但可以肯定的是，市场领导者将需要电池来制造其车辆。</blockquote></p><p> BYD does, however, also produce its own passenger EVs (hybrids and BEVs), which means that it is not solely a supplier. Its Han model has been&nbsp;quite successful&nbsp;in its home market, making BYD a lesser-known but pretty successful contender for EV market share. Unlike NIO, BYD is profitable already, and its valuation seems to be one of the lowest in the EV space. This is, I believe, at least partially the result of an understaffed investor relations department. Contrasting how much information (in English) is available on NIO with how much information English-speaking investors can get on BYD shows a wide discrepancy, which likely explains why NIO is followed more widely -- despite being the smaller company. BYD generated revenue of $22 billion in 2020, and that amount is forecasted to grow to $29 billion this year, and to $34 billion in 2022. BYD is thus forecasted to grow at a rate that is somewhat slower than NIO's growth rate, but BYD's forecasted revenue for 2022 is about 4x as high as that of NIO. It thus may come as a surprise that BYD's market capitalization of $100 billion is only slightly higher than that of NIO, despite being a much larger, and more profitable, enterprise. Once again, I believe that this is at least partially caused by the fact that BYD is just not as well-known outside of China, and that many retail investors thus flock to the better-known, more prominent NIO.</p><p><blockquote>然而，比亚迪也生产自己的乘用电动汽车（混合动力汽车和纯电动汽车），这意味着它不仅仅是一家供应商。其汉车型在国内市场相当成功，使比亚迪成为不太知名但相当成功的电动汽车市场份额竞争者。与蔚来不同，比亚迪已经盈利，其估值似乎是电动汽车领域最低的之一。我认为，这至少部分是投资者关系部门人手不足的结果。将蔚来上可用的信息（英文）数量与讲英语的投资者可以获得的信息数量进行对比，可以发现存在很大的差异，这可能解释了为什么蔚来受到更广泛的关注——尽管它是一家规模较小的公司。比亚迪2020年的收入为220亿美元，预计今年将增长至290亿美元，2022年将增长至340亿美元。因此，比亚迪的增长速度预计将比蔚来汽车的增长速度稍慢，但比亚迪2022年的预计收入约为蔚来的4倍。因此，尽管比亚迪是一家规模更大、利润更高的企业，但其 1000 亿美元的市值仅略高于蔚来，这可能令人惊讶。我再次认为，这至少部分是由于比亚迪在中国以外的知名度不高，许多散户投资者因此涌向更知名、更突出的蔚来。</blockquote></p><p> <b>Should You Buy NIO Or BYD Auto</b></p><p><blockquote><b>您应该购买蔚来还是比亚迪汽车</b></blockquote></p><p></p><p> As stated earlier, investing in high-growth companies will not automatically lead to steep returns, as valuations play a major role as well. NIO is the higher-growth pick, and its BaaS service and strong brand position it well for future success, I believe. On the other hand, NIO's shares are quite expensive, trading for close to 10x next year's revenue right now. BYD is a lower-growth pick, but its diversified operations across passenger EVs, commercial EVs, and its battery business will likely lead to ample revenue and earnings growth for many years nevertheless. BYD is, as one of just a few EV players profitable already, which naturally is a major plus, and BYD's much lower valuation also makes shares look attractive. Shares trade for ~3x next year's revenue, which does not seem unreasonable, considering that many other EV stocks are trading for 10x revenue or even more. The fact that BYD is backed by Buffett's Berkshire(NYSE:BRK.A)(NYSE:BRK.B)is also a nice-to-have.</p><p><blockquote>如前所述，投资高增长公司不会自动带来高额回报，因为估值也起着重要作用。我相信，蔚来是增长较高的选择，其 BaaS 服务和强大的品牌为其未来的成功奠定了良好的基础。另一方面，蔚来汽车的股价相当昂贵，目前的交易价格接近明年收入的 10 倍。比亚迪是一个增长较低的选择，但其乘用车电动汽车、商用电动汽车和电池业务的多元化运营可能会在未来许多年内带来充足的收入和盈利增长。比亚迪是少数几个已经盈利的电动汽车企业之一，这自然是一个很大的优势，而且比亚迪低得多的估值也使其股票看起来很有吸引力。股票交易价格约为明年收入的 3 倍，考虑到许多其他电动汽车股票的交易价格是明年收入的 10 倍甚至更多，这似乎并非不合理。比亚迪得到巴菲特旗下伯克希尔哈撒韦公司（纽约证券交易所股票代码：BRK.A）（纽约证券交易所股票代码：BRK.B）的支持也是一件好事。</blockquote></p><p> Depending on whether you prioritize growth or value, you may either prefer NIO or BYD -- both companies seem like picks with ample long-term potential, although neither are guaranteed winners, which is why don't rate either a screaming buy.</p><p><blockquote>根据您是优先考虑增长还是价值，您可能更喜欢蔚来或比亚迪——这两家公司似乎都是具有充足长期潜力的选择，尽管两家公司都不能保证获胜，这就是为什么不要大声买入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4437449-nio-vs-byd-ev-stock-good-buy\">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":{"BYDDY":"比亚迪ADR","NIO":"蔚来","01211":"比亚迪股份","002594":"比亚迪"},"source_url":"https://seekingalpha.com/article/4437449-nio-vs-byd-ev-stock-good-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131141642","content_text":"Summary\n\nChina is a leading EV market, and it looks like Chinese players will have it easier in their home market compared to foreign companies.\nBoth NIO and BYD have attractive offerings on the market and employ strategies that differentiate them from competitors.\nNIO is the higher-growth pick, while BYD is the better value play. Both could be attractive picks for the long run.\n\nbaona/iStock via Getty Images\nArticle Thesis\nEV stocks have been strong performers in 2020 on the back of strong market growth and helpful government policies. China has turned into one of the most important markets for electric vehicles, and since the Chinese government is oftentimes accommodating to Chinese companies, it makes sense to look among Chinese EV players for exposure to this high-growth market. Both BYD Company(OTCPK:BYDDY)(OTCPK:BYDDF)and NIO Inc.(NYSE:NIO)fit that description, and they both generate compelling growth and are on a strong trajectory. They differ, however, when it comes to the strategies they utilize in order to fuel growth, and there are differences in the respective valuation as well. Depending on your investment approach, you may either favor BYD or NIO.\nNIO Stock Price\nNIO saw its shares rally massively over the last year, as they delivered gains of 600% in just twelve months:\nData by YCharts\nThis was easily more than what the broad market generated, and also outperformed peers such as Tesla(NASDAQ:TSLA), which gained about 240% over the same time frame. It should, however, be noted that NIO experienced a steep selloff in spring 2021, as its shares declined by close to 50% between January and May, before starting to climb again in recent weeks. When we take a look at current analyst price targets, NIO has an upside of around 20%, as analysts have a target price of $60, versus a current share price of $50.\nWhen looking at NIO's valuation, we can't really use an earnings multiple here, as NIO is not yet profitable. It is pretty clear, however, that NIO, with a market capitalization of $81 billion, is priced for a lot of future growth -- which holds true for other EV pureplays as well. For reference, that is a higher market capitalization than that of many legacy auto companies, including Ford(NYSE:F)and BMW(OTCPK:BMWYY), which indicates that NIO may be aggressively valued right here, considering that it sells way fewer cars than these two companies.\nBYDDY Stock Price\nBYD Company has, like other EV players, benefitted a lot from growing EV enthusiasm over the last year, as its shares rose by 300% in twelve months:\nData by YCharts\nThat is about half as much as the gains experienced by NIO, but slightly more than the gains experienced by Tesla. Overall, a 300% gain in one year is, of course, outstanding -- and investors should not expect this to repeat in future years. Like NIO, BYD has experienced a steep selloff in spring, but BYD has also recovered most of that in recent weeks. Unlike NIO, BYD is profitable already, although only marginally. Shares are trading for around 130x trailing earnings today, which isn't a low valuation at all, but which compares favorably to the valuations some other EV stocks are trading at, such as Tesla, which trades for more than 600x trailing net profits.\nNIO Vs BYD Auto: Which Is The Better EV Stock?\nThe EV segment of the global automobile industry experiences rapid growth, and that naturally makes EV stocks attractive as growth investments. It should, however, be noted that valuations should always be considered when investing, and depending on the price one pays for a growth investment, it may take quite some time to see gains. Investors that chased high-growth tech stocks during the dot.com bubble, for example, had to wait years for their investments to pay off if they bought at the highs. All the growth in the EV space may thus be for naught if investors chase stocks and pay a price that is too high.\nOn top of that, the global automobile industry is, generally speaking, competitive, capital intensive, cyclical, and margins for most players are relatively low. That being said, the large growth runway for EVs means that quality EV companies will likely see their revenues and profits grow at a strong pace for many years, and thus a long-term oriented investor may still be intrigued by these stocks.\nNIO and BYD are employing different strategies when it comes to the EV market, and both of those strategies have merit, I believe. NIO is focused on higher-end, quality passenger EVs that are primarily sold in China, although NIO is also entering the European car market this summer. The company offers a range of different models, from sports cars to SUVs. Due to strong built quality and the usage of high-end materials, NIO cars are seen as premium products worthy of a high price in China. NIO has, despite its relatively young history, managed to build a strong brand in its home market already, which positions the company well for future success in the Chinese EV space.\nNIO also offers a unique Battery-as-a-Service product that allows customers to swap batteries at NIO's battery-swapping stations. This reduces the time to recharge to a couple of minutes, which compares very favorably to the significantly longer charging times of other EV models. For those that are reluctant to buy an EV because they worry about a lot of downtime, NIO's cars could thus be an EV offering that they might still consider. I see this USP as a potential long-term growth driver for NIO that should help the company gain market share in this highly competitive market. It should, however, be noted that building out these battery-swapping stations in all relevant markets will cost a lot of money, thus capital expenditures for NIO will likely be higher than those of other EV players. NIO delivered 500%+ revenue growth in Q1 and will deliver strong revenue growth going forward, too:\nData by YCharts\nCurrent consensus estimates call for a 125% revenue increase this year, while revenues will grow by 63% next year and by 47% in 2023. This represents strong growth and is significantly more than what analysts expect from the current market leader Tesla, although it should be noted that NIO is growing from a smaller base.\nBYD is a lesser-known Chinese EV player that is nevertheless pursuing an attractive strategy as well. BYD is not focused on higher-end passenger vehicles alone, but instead is offering a wide range of commercial EVs on top of that. Its offerings include electricity-powered trucks and electricity-powered busses, for example, which have a lot of potential over the coming years. Getting rid of diesel-powered busses could lead to better air quality in dense cities, and due to low average speeds and low average distances that are driven by busses, range is not too much of a concern. BYD is also offering other electric technologies, however, including a monorail system called Skyrail that is being built in China, but also in overseas markets such as Brazil.\nBYD also is a major battery manufacturer, which naturally gives BYD exposure to the EV space as a whole. Even when other manufacturers are selling EVs, they oftentimes are not producing their own batteries, but instead they buy those from companies such as BYD. BYD can thus, unlike many other EV companies, also profit from the growth of its competitors. This is especially great since it is not yet known which EV company will ultimately lead the market a decade or two from now -- but it is guaranteed that the market leader will need batteries to manufacture its vehicles.\nBYD does, however, also produce its own passenger EVs (hybrids and BEVs), which means that it is not solely a supplier. Its Han model has been quite successful in its home market, making BYD a lesser-known but pretty successful contender for EV market share. Unlike NIO, BYD is profitable already, and its valuation seems to be one of the lowest in the EV space. This is, I believe, at least partially the result of an understaffed investor relations department. Contrasting how much information (in English) is available on NIO with how much information English-speaking investors can get on BYD shows a wide discrepancy, which likely explains why NIO is followed more widely -- despite being the smaller company. BYD generated revenue of $22 billion in 2020, and that amount is forecasted to grow to $29 billion this year, and to $34 billion in 2022. BYD is thus forecasted to grow at a rate that is somewhat slower than NIO's growth rate, but BYD's forecasted revenue for 2022 is about 4x as high as that of NIO. It thus may come as a surprise that BYD's market capitalization of $100 billion is only slightly higher than that of NIO, despite being a much larger, and more profitable, enterprise. Once again, I believe that this is at least partially caused by the fact that BYD is just not as well-known outside of China, and that many retail investors thus flock to the better-known, more prominent NIO.\nShould You Buy NIO Or BYD Auto\nAs stated earlier, investing in high-growth companies will not automatically lead to steep returns, as valuations play a major role as well. NIO is the higher-growth pick, and its BaaS service and strong brand position it well for future success, I believe. On the other hand, NIO's shares are quite expensive, trading for close to 10x next year's revenue right now. BYD is a lower-growth pick, but its diversified operations across passenger EVs, commercial EVs, and its battery business will likely lead to ample revenue and earnings growth for many years nevertheless. BYD is, as one of just a few EV players profitable already, which naturally is a major plus, and BYD's much lower valuation also makes shares look attractive. Shares trade for ~3x next year's revenue, which does not seem unreasonable, considering that many other EV stocks are trading for 10x revenue or even more. The fact that BYD is backed by Buffett's Berkshire(NYSE:BRK.A)(NYSE:BRK.B)is also a nice-to-have.\nDepending on whether you prioritize growth or value, you may either prefer NIO or BYD -- both companies seem like picks with ample long-term potential, although neither are guaranteed winners, which is why don't rate either a screaming buy.","news_type":1,"symbols_score_info":{"BYDDY":0.9,"002594":0.9,"01211":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":960,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":359934928,"gmtCreate":1616316859364,"gmtModify":1634526363420,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Glad to hear that","listText":"Glad to hear that","text":"Glad to hear that","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/359934928","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohunote.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</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\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”就继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏 “还远未完成”。</b>美联储主席杰罗姆-鲍威尔（Jerome Powell）周五表示，虽然美国经济前景 “一片光明”，但复苏 “还远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中， 鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“他说：”美国经济面临的危险是严重的。面临的挑战是限制影响的严重程度和持续时间，以避免造成长期损害。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事们根据从2008-2009年大衰退的缓慢复苏中吸取的教训，迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率削减至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测 2021 年经济将强劲增长，并且每天都有越来越多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏文章中说，情况 “有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>“鲍威尔说：”但复苏还远未完成，因此在美联储，我们将继续为经济提供所需的支持。</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>“他说：”我真的相信，我们会像以前经常做的那样，从这场危机中走出来，变得更强大、更好。</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近一次政策会议上重申了其宽松货币政策立场，尽管预测今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济将过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10 年期国库券 MUBMUSD10Y,1.734% 的收益率在年初低于 1% 后，本周升至 1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数在上午交易中下跌-0.71%，下跌187点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?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":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352925011,"gmtCreate":1616867704833,"gmtModify":1634523701965,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Great stock&nbsp;","listText":"Great stock&nbsp;","text":"Great stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/352925011","repostId":"2122472374","repostType":4,"isVote":1,"tweetType":1,"viewCount":421,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364502642,"gmtCreate":1614861387686,"gmtModify":1703482103840,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Failures made Tesla where they are today. Have faith and stay strong 💪🏻!","listText":"Failures made Tesla where they are today. Have faith and stay strong 💪🏻!","text":"Failures made Tesla where they are today. Have faith and stay strong 💪🏻!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/364502642","repostId":"1104042346","repostType":4,"isVote":1,"tweetType":1,"viewCount":695,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365843503,"gmtCreate":1614730562202,"gmtModify":1703480360152,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"It’s a healthy pull back. They may missed earnings but their fundamentals are still strong with revenue always beating forecast easily. Low EPS may means that NIO is undergoing major expansion in their business and thus have higher operating cost. Have faith and average on the way down. It will sure be rewarding when the time comes for NIO to shine![鼓掌]&nbsp;","listText":"It’s a healthy pull back. They may missed earnings but their fundamentals are still strong with revenue always beating forecast easily. Low EPS may means that NIO is undergoing major expansion in their business and thus have higher operating cost. Have faith and average on the way down. It will sure be rewarding when the time comes for NIO to shine![鼓掌]&nbsp;","text":"It’s a healthy pull back. They may missed earnings but their fundamentals are still strong with revenue always beating forecast easily. Low EPS may means that NIO is undergoing major expansion in their business and thus have higher operating cost. Have faith and average on the way down. It will sure be rewarding when the time comes for NIO to shine![鼓掌]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/365843503","repostId":"1122180672","repostType":4,"repost":{"id":"1122180672","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614697099,"share":"https://www.laohunote.com/m/news/1122180672?lang=zh_CN&edition=full","pubTime":"2021-03-02 22:58","market":"other","language":"en","title":"NIO plunged more than 7%<blockquote>蔚来暴跌逾7%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122180672","media":"老虎资讯综合","summary":"(March 2) NIO Inc.  reported a wider-than-expected loss for its fourth quarter, but issued strong re","content":"<p>(March 2)&nbsp;<a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a>  reported a wider-than-expected loss for its fourth quarter, but issued strong revenue guidance for the first quarter. The EV maker also announced a month-over-month drop in deliveries for February.</p><p><blockquote>（3月2日）<a href=\"https://laohu8.com/S/NIO\">蔚来</a>报告第四季度亏损超出预期，但发布了第一季度强劲的收入指引。这家电动汽车制造商还宣布 2 月份交付量环比下降。</blockquote></p><p>NIO plunged more than 7%.<img src=\"https://static.tigerbbs.com/b37a09b32e73be5620e2ffca84d7c7a8\" tg-width=\"1085\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote>蔚来暴跌超过7%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO plunged more than 7%<blockquote>蔚来暴跌逾7%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO plunged more than 7%<blockquote>蔚来暴跌逾7%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-03-02 22:58</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 2)&nbsp;<a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a>  reported a wider-than-expected loss for its fourth quarter, but issued strong revenue guidance for the first quarter. The EV maker also announced a month-over-month drop in deliveries for February.</p><p><blockquote>（3月2日）<a href=\"https://laohu8.com/S/NIO\">蔚来</a>报告第四季度亏损超出预期，但发布了第一季度强劲的收入指引。这家电动汽车制造商还宣布 2 月份交付量环比下降。</blockquote></p><p>NIO plunged more than 7%.<img src=\"https://static.tigerbbs.com/b37a09b32e73be5620e2ffca84d7c7a8\" tg-width=\"1085\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote>蔚来暴跌超过7%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122180672","content_text":"(March 2) NIO Inc.  reported a wider-than-expected loss for its fourth quarter, but issued strong revenue guidance for the first quarter. The EV maker also announced a month-over-month drop in deliveries for February.NIO plunged more than 7%.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":2091,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":362388430,"gmtCreate":1614597179920,"gmtModify":1703478637139,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/362388430","repostId":"1101482210","repostType":4,"isVote":1,"tweetType":1,"viewCount":605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324821333,"gmtCreate":1615984501222,"gmtModify":1703495917191,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Looking forward for more great news&nbsp;","listText":"Looking forward for more great news&nbsp;","text":"Looking forward for more great news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/324821333","repostId":"1117307496","repostType":4,"isVote":1,"tweetType":1,"viewCount":688,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360411702,"gmtCreate":1613963970606,"gmtModify":1634551739295,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>🚀🚀To the moon baby! 🚀 🚀&nbsp;","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>🚀🚀To the moon baby! 🚀 🚀&nbsp;","text":"$Tiger Brokers(TIGR)$🚀🚀To the moon baby! 🚀 🚀","images":[{"img":"https://static.tigerbbs.com/0afc2839e50e8e04a9cbd5b4422884bf","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/360411702","isVote":1,"tweetType":1,"viewCount":530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":157618493,"gmtCreate":1625580128112,"gmtModify":1631883984438,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"One of the main downside of Chinese stocks","listText":"One of the main downside of Chinese stocks","text":"One of the main downside of Chinese stocks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/157618493","repostId":"1191131157","repostType":4,"isVote":1,"tweetType":1,"viewCount":1288,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356160148,"gmtCreate":1616765042184,"gmtModify":1634524126692,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Is this a bad sign?","listText":"Is this a bad sign?","text":"Is this a bad sign?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/356160148","repostId":"1160686264","repostType":4,"repost":{"id":"1160686264","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1616764648,"share":"https://www.laohunote.com/m/news/1160686264?lang=zh_CN&edition=full","pubTime":"2021-03-26 21:17","market":"us","language":"en","title":"Cathie Wood Cautions Investors Against Transacting With Bitcoin Until Tax Code Is Changed<blockquote>Cathie Wood 警告投资者在税法改变之前不要与比特币进行交易</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160686264","media":"Benzinga Earnings","summary":"Earlier this week,Tesla Inc(NASDAQ:TSLA) announced that customers could now buy Tesla with Bitcoin (","content":"<p>Earlier this week,<b>Tesla Inc</b>(NASDAQ:TSLA) announced&nbsp;that customers could now buy Tesla with&nbsp;<b>Bitcoin</b>&nbsp;(CRYPTO: BTC), but Ark Invest's Cathie Wood isn’t so sure investors should use it as a means of payment.</p><p><blockquote>本周早些时候，<b>特斯拉公司</b>（纳斯达克股票代码：TSLA）宣布客户现在可以购买特斯拉<b>比特币</b>(加密货币：BTC），但方舟投资公司的凯西-伍德（Cathie Wood）并不确定投资者是否应该将其作为支付手段。</blockquote></p><p> <b>What Happened:</b>In a webcast hosted by CBOE, Wood&nbsp;said&nbsp;that those that made profits from Bitcoin’s rally may be the subject of scrutiny by the IRS.</p><p><blockquote><b>发生了什么：</b>伍德在芝加哥期权交易所主办的网络直播中说，那些从比特币的集会中获利的人可能会受到国税局的审查。</blockquote></p><p> The ARK Invest founder explained, \"The IRS has something to say about this, so if you have huge gains in your bitcoin, I don't think I would bear much in the way of transactions until we get maybe some changes on the tax front.”</p><p><blockquote>ARK Invest的创始人解释说：“美国国税局对此有话要说，所以如果你的比特币有巨额利润，我想在税收方面做出一些改变之前，我不会对交易方式承担太多负担。”</blockquote></p><p> <b>Why It Matters:</b>From a tax point of view, the IRS currently treats Bitcoin and other cryptocurrencies as “property,”&nbsp;as they do stocks and bonds. As a result, when investors sell their Bitcoin for fiat currency or use it as a means to purchase another good, they could be subject to massive capital gains taxes.</p><p><blockquote><b>为什么重要：</b>从税收角度来看，美国国税局目前将比特币和其他加密货币视为 “财产”，就像对待股票和债券一样。因此，当投资者以法定货币出售比特币或将其作为购买另一种商品的手段时，他们可能需要缴纳巨额资本利得税。</blockquote></p><p> Capital gains on taxes on assets that have been held for less than a year are taxed the same&nbsp;as a person’s “other income,”&nbsp;while assets that are held for longer than this period would be subject to long-term capital gains taxes ranging from 15-20%.</p><p><blockquote>持有时间不到一年的资产的资本利得税与个人的 “其他收入 ”相同，而持有时间超过一年的资产则需缴纳 15-20% 的长期资本利得税。</blockquote></p><p> While this would make any Tesla purchases with Bitcoin somewhat unfavorable for those that bought the cryptocurrency last year, more recent investors may actually benefit from the current rules.</p><p><blockquote>虽然这将使比特币的任何特斯拉购买对去年购买加密货币的人来说有些不利，但最近的投资者实际上可能会从当前的规则中受益。</blockquote></p><p> For instance, if an investor purchased the leading cryptocurrency&nbsp;at a higher price than its current value, he or she could actually report a loss and receive a tax deduction for the value of the asset.</p><p><blockquote>例如，如果投资者以高于其当前价值的价格购买了领先的加密货币，他或她实际上可以报告损失，并获得资产价值的税收减免。</blockquote></p><p> <b>Price Action:</b>After a volatile week, Bitcoin price recovered from yesterday's low of&nbsp;$50,856&nbsp;to $53,900 today. At press time, the cryptocurrency was trading at $53,223, according to data from CoinMarketCap.</p><p><blockquote><b>价格行为：</b>经过一周的波动，比特币价格从昨天的低点 50,856 美元回升至今天的 53,900 美元。根据 CoinMarketCap 的数据，截至发稿时，该加密货币的交易价格为 53,223 美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Cautions Investors Against Transacting With Bitcoin Until Tax Code Is Changed<blockquote>Cathie Wood 警告投资者在税法改变之前不要与比特币进行交易</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\">\nCathie Wood Cautions Investors Against Transacting With Bitcoin Until Tax Code Is Changed<blockquote>Cathie Wood 警告投资者在税法改变之前不要与比特币进行交易</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-03-26 21:17</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Earlier this week,<b>Tesla Inc</b>(NASDAQ:TSLA) announced&nbsp;that customers could now buy Tesla with&nbsp;<b>Bitcoin</b>&nbsp;(CRYPTO: BTC), but Ark Invest's Cathie Wood isn’t so sure investors should use it as a means of payment.</p><p><blockquote>本周早些时候，<b>特斯拉公司</b>（纳斯达克股票代码：TSLA）宣布客户现在可以购买特斯拉<b>比特币</b>(加密货币：BTC），但方舟投资公司的凯西-伍德（Cathie Wood）并不确定投资者是否应该将其作为支付手段。</blockquote></p><p> <b>What Happened:</b>In a webcast hosted by CBOE, Wood&nbsp;said&nbsp;that those that made profits from Bitcoin’s rally may be the subject of scrutiny by the IRS.</p><p><blockquote><b>发生了什么：</b>伍德在芝加哥期权交易所主办的网络直播中说，那些从比特币的集会中获利的人可能会受到国税局的审查。</blockquote></p><p> The ARK Invest founder explained, \"The IRS has something to say about this, so if you have huge gains in your bitcoin, I don't think I would bear much in the way of transactions until we get maybe some changes on the tax front.”</p><p><blockquote>ARK Invest的创始人解释说：“美国国税局对此有话要说，所以如果你的比特币有巨额利润，我想在税收方面做出一些改变之前，我不会对交易方式承担太多负担。”</blockquote></p><p> <b>Why It Matters:</b>From a tax point of view, the IRS currently treats Bitcoin and other cryptocurrencies as “property,”&nbsp;as they do stocks and bonds. As a result, when investors sell their Bitcoin for fiat currency or use it as a means to purchase another good, they could be subject to massive capital gains taxes.</p><p><blockquote><b>为什么重要：</b>从税收角度来看，美国国税局目前将比特币和其他加密货币视为 “财产”，就像对待股票和债券一样。因此，当投资者以法定货币出售比特币或将其作为购买另一种商品的手段时，他们可能需要缴纳巨额资本利得税。</blockquote></p><p> Capital gains on taxes on assets that have been held for less than a year are taxed the same&nbsp;as a person’s “other income,”&nbsp;while assets that are held for longer than this period would be subject to long-term capital gains taxes ranging from 15-20%.</p><p><blockquote>持有时间不到一年的资产的资本利得税与个人的 “其他收入 ”相同，而持有时间超过一年的资产则需缴纳 15-20% 的长期资本利得税。</blockquote></p><p> While this would make any Tesla purchases with Bitcoin somewhat unfavorable for those that bought the cryptocurrency last year, more recent investors may actually benefit from the current rules.</p><p><blockquote>虽然这将使比特币的任何特斯拉购买对去年购买加密货币的人来说有些不利，但最近的投资者实际上可能会从当前的规则中受益。</blockquote></p><p> For instance, if an investor purchased the leading cryptocurrency&nbsp;at a higher price than its current value, he or she could actually report a loss and receive a tax deduction for the value of the asset.</p><p><blockquote>例如，如果投资者以高于其当前价值的价格购买了领先的加密货币，他或她实际上可以报告损失，并获得资产价值的税收减免。</blockquote></p><p> <b>Price Action:</b>After a volatile week, Bitcoin price recovered from yesterday's low of&nbsp;$50,856&nbsp;to $53,900 today. At press time, the cryptocurrency was trading at $53,223, according to data from CoinMarketCap.</p><p><blockquote><b>价格行为：</b>经过一周的波动，比特币价格从昨天的低点 50,856 美元回升至今天的 53,900 美元。根据 CoinMarketCap 的数据，截至发稿时，该加密货币的交易价格为 53,223 美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKK":"ARK Innovation ETF","ARKG":"ARK Genomic Revolution ETF","GBTC":"比特币ETF-Grayscale"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160686264","content_text":"Earlier this week,Tesla Inc(NASDAQ:TSLA) announced that customers could now buy Tesla with Bitcoin (CRYPTO: BTC), but Ark Invest's Cathie Wood isn’t so sure investors should use it as a means of payment.\nWhat Happened:In a webcast hosted by CBOE, Wood said that those that made profits from Bitcoin’s rally may be the subject of scrutiny by the IRS.\nThe ARK Invest founder explained, \"The IRS has something to say about this, so if you have huge gains in your bitcoin, I don't think I would bear much in the way of transactions until we get maybe some changes on the tax front.”\nWhy It Matters:From a tax point of view, the IRS currently treats Bitcoin and other cryptocurrencies as “property,” as they do stocks and bonds. As a result, when investors sell their Bitcoin for fiat currency or use it as a means to purchase another good, they could be subject to massive capital gains taxes.\nCapital gains on taxes on assets that have been held for less than a year are taxed the same as a person’s “other income,” while assets that are held for longer than this period would be subject to long-term capital gains taxes ranging from 15-20%.\nWhile this would make any Tesla purchases with Bitcoin somewhat unfavorable for those that bought the cryptocurrency last year, more recent investors may actually benefit from the current rules.\nFor instance, if an investor purchased the leading cryptocurrency at a higher price than its current value, he or she could actually report a loss and receive a tax deduction for the value of the asset.\nPrice Action:After a volatile week, Bitcoin price recovered from yesterday's low of $50,856 to $53,900 today. At press time, the cryptocurrency was trading at $53,223, according to data from CoinMarketCap.","news_type":1,"symbols_score_info":{"ARKG":0.9,"BTCmain":0.9,"XBTmain":0.9,"GBTC":0.9,"ARKK":0.9}},"isVote":1,"tweetType":1,"viewCount":740,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328696841,"gmtCreate":1615517663483,"gmtModify":1703490317898,"author":{"id":"3572418035699527","authorId":"3572418035699527","name":"财神爷爷97","avatar":"https://static.tigerbbs.com/bcb5096bb391a4364a255cfe900aece0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572418035699527","idStr":"3572418035699527"},"themes":[],"title":"","htmlText":"Good to be back in greens","listText":"Good to be back in greens","text":"Good to be back in greens","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/328696841","repostId":"1144029837","repostType":4,"repost":{"id":"1144029837","kind":"news","pubTimestamp":1615513990,"share":"https://www.laohunote.com/m/news/1144029837?lang=zh_CN&edition=full","pubTime":"2021-03-12 09:53","market":"us","language":"en","title":"The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144029837","media":"Nasdaq","summary":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQIN","content":"<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>近期股市波动较大，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于短端。然而在周四，纳斯达克再次举行了自己的会议。事实上，截至下午 1:45美国东部时间今天，成长型股票基准股价上涨超过 2.5%，领先市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名的成长型股票受到了很多惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克语：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克指数，并旨在从 2 月底和本月初的挫折中完全反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre 重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre 的股价较今年早些时候的高点下跌了 30%。然而，他们已经大幅反弹，今天近 10% 的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>这家拉丁美洲电子商务专家周四获得了 BTIG 分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股 1,720 美元。即使今天下午价格水平上涨，这也为 MercadoLibre 提供了另外 10% 的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG 喜欢 MercadoLibre 一直遵循的战略，特别是考虑到它能够向其核心电子商务市场添加辅助服务的方式。Mercado Pago支付网络本身就很受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也从巴西主要市场的其他参与者那里获得了整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟，投资者可能会喜欢 Okta 的大买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta 股价上涨 8%，延续了这家网络身份专家的股价从近期低点上涨约 20% 的涨势。该股下跌了 30%，但从根本上来说，Okta 看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司上周公布第四季度财务业绩时最初失利。尽管同期收入同比增长 40%，利润适中，但投资者不确定如何接受收入增长放缓和可能亏损的指导。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>wasOkta 斥资 65 亿美元收购专注于客户身份管理的私人控股公司 Auth0，这也引发了一些问题。这是一个增长领域，一些人表示，Auth0 产品实际上比 Okta 的竞争产品具有一些优势，这使得收购对 Okta 来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种认识再次提振了该股，从长远来看，它可能有助于为 Okta 建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给吹笛人</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股的股价上涨了约5%。这家支付网络专家遭受了 25% 的打击，但由于一系列战略举措，其股价正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal 最近敲定了收购加密货币安全公司 Curv 的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大生意。随着加密货币价格回到创纪录水平附近，投资者对PayPal继续在该领域有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal 的 Pay in 4service 并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争。所有这些因素加在一起，让人们再次对PayPal感觉良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动性很难忍受，但低价卖出很少奏效。PayPal、Okta 和 MercadoLibre 最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>","source":"lsy1603171495471","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票再次高歌猛进</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-03-12 09:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>近期股市波动较大，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于短端。然而在周四，纳斯达克再次举行了自己的会议。事实上，截至下午 1:45美国东部时间今天，成长型股票基准股价上涨超过 2.5%，领先市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名的成长型股票受到了很多惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克语：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克指数，并旨在从 2 月底和本月初的挫折中完全反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre 重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre 的股价较今年早些时候的高点下跌了 30%。然而，他们已经大幅反弹，今天近 10% 的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>这家拉丁美洲电子商务专家周四获得了 BTIG 分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股 1,720 美元。即使今天下午价格水平上涨，这也为 MercadoLibre 提供了另外 10% 的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG 喜欢 MercadoLibre 一直遵循的战略，特别是考虑到它能够向其核心电子商务市场添加辅助服务的方式。Mercado Pago支付网络本身就很受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也从巴西主要市场的其他参与者那里获得了整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟，投资者可能会喜欢 Okta 的大买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta 股价上涨 8%，延续了这家网络身份专家的股价从近期低点上涨约 20% 的涨势。该股下跌了 30%，但从根本上来说，Okta 看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司上周公布第四季度财务业绩时最初失利。尽管同期收入同比增长 40%，利润适中，但投资者不确定如何接受收入增长放缓和可能亏损的指导。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>wasOkta 斥资 65 亿美元收购专注于客户身份管理的私人控股公司 Auth0，这也引发了一些问题。这是一个增长领域，一些人表示，Auth0 产品实际上比 Okta 的竞争产品具有一些优势，这使得收购对 Okta 来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种认识再次提振了该股，从长远来看，它可能有助于为 Okta 建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给吹笛人</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股的股价上涨了约5%。这家支付网络专家遭受了 25% 的打击，但由于一系列战略举措，其股价正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal 最近敲定了收购加密货币安全公司 Curv 的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大生意。随着加密货币价格回到创纪录水平附近，投资者对PayPal继续在该领域有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal 的 Pay in 4service 并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争。所有这些因素加在一起，让人们再次对PayPal感觉良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动性很难忍受，但低价卖出很少奏效。PayPal、Okta 和 MercadoLibre 最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11\">Nasdaq</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":{"OKTA":"Okta Inc.","PYPL":"PayPal","MELI":"MercadoLibre"},"source_url":"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144029837","content_text":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares ofMercadoLibre(NASDAQ: MELI),Okta(NASDAQ: OKTA), andPayPal Holdings(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.MercadoLibre's back in businessLess than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.Investors might like Okta's big buy after allShares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.Paying the piperLastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only one in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.Ride the waveVolatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.","news_type":1,"symbols_score_info":{"MELI":0.9,"PYPL":0.9,"OKTA":0.9}},"isVote":1,"tweetType":1,"viewCount":639,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}