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2021-06-17

Like and comment please

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2021-06-08

Like and comment pls

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2021-05-24

Wow nice

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2021-05-21

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Apple Stock: How Long Should You Hold It?<blockquote>苹果股票：你应该持有多久？</blockquote>

2021-05-19

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2021-05-18

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JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>

2021-05-17

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2021-05-12

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2021-05-07

Wow

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2021-05-04

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2021-05-04

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Bill and Melinda Gates are getting divorced. Here are some stocks they owned<blockquote>比尔和梅林达·盖茨要离婚了。以下是他们拥有的一些股票</blockquote>

2021-05-03

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2021-04-29

Nice

NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>

2021-03-31

Hmmm

Toplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>

2021-03-16

Agreed

This Isn't Your Father's Overvalued Market<blockquote>这不是你父亲高估的市场</blockquote>

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pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/117469576","repostId":"1154765176","repostType":4,"isVote":1,"tweetType":1,"viewCount":1684,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":131231512,"gmtCreate":1621861905636,"gmtModify":1634186021431,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Wow nice","listText":"Wow nice","text":"Wow 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like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/139162752","repostId":"1197544614","repostType":4,"repost":{"id":"1197544614","kind":"news","pubTimestamp":1621600946,"share":"https://www.laohu8.com/m/news/1197544614?lang=zh_CN&edition=full","pubTime":"2021-05-21 20:42","market":"us","language":"en","title":"Apple Stock: How Long Should You Hold It?<blockquote>苹果股票：你应该持有多久？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197544614","media":"TheStreet","summary":"For best performance, how long should Apple stock be held in a portfolio? The Apple Maven discusses ","content":"<p>For best performance, how long should Apple stock be held in a portfolio? The Apple Maven discusses what traders, speculators and investors should expect when betting on AAPL.</p><p><blockquote>为了获得最佳表现，苹果股票应该在投资组合中持有多长时间？这位苹果专家讨论了交易员、投机者和投资者在押注AAPL时应该期待什么。</blockquote></p><p> The&nbsp;Street’s&nbsp;Jim Cramer has said it repeatedly: own Apple stock (ticker $AAPL), don’t trade it. Today, the Apple Maven revisits this idea to help determine how long one should hold Apple shares.</p><p><blockquote>华尔街的吉姆·克莱默(Jim Cramer)多次表示：拥有苹果股票（股票代码$AAPL），不要交易它。今天，这位苹果专家重新审视了这个想法，以帮助确定应该持有苹果股票多长时间。</blockquote></p><p> Below is an analysis of how much one might expect to gain if (1) day-trading, (2) speculating on, or (3) investing in Apple stock. Obviously, since the future is uncertain, the analysis is based on historical data – which I believe can at least provide a blueprint for future share price performance.</p><p><blockquote>以下是对(1)日内交易、(2)投机或(3)投资苹果股票的预期收益的分析。显然，由于未来不确定，分析基于历史数据——我相信这至少可以为未来股价表现提供蓝图。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6726ed885cefb1c7f81fe0ac2f6eff7c\" tg-width=\"799\" tg-height=\"466\"><span>Figure 1: AAPL trading chart.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：AAPL交易图表。</span></p></blockquote></p><p> <b>#1. AAPL investors: long-term winners</b></p><p><blockquote><b>#1.AAPL投资者：长期赢家</b></blockquote></p><p> As I mentioned&nbsp;in my recent “Apple Stock 101” article, investors that bought Apple shares in December 1980 (i.e. the IPO date) and held onto them until now realized impressive annualized gains of&nbsp;<b>19%</b>. Clearly, AAPL has been a good asset to “get and forget” over Apple’s tenure as a publicly-traded company.</p><p><blockquote>正如我在最近的“苹果股票101”文章中提到的，在1980年12月（即IPO日期）购买苹果股票并持有至今的投资者实现了令人印象深刻的年化收益<b>19%</b>显然，在苹果担任上市公司期间，AAPL一直是一笔值得“忘记”的好资产。</blockquote></p><p> But allow me to work with more realistic time frames. For this exercise, I will consider “investors” those who hold AAPL for one year. To be clear, many might consider twelve months a minimum investment horizon to qualify as long term.</p><p><blockquote>但是请允许我用更现实的时间框架来工作。在这个练习中，我将把持有AAPL一年的人视为“投资者”。需要明确的是，许多人可能认为12个月是符合长期投资资格的最低投资期限。</blockquote></p><p> Also, I am limiting my analysis to the past 20 years, since the stock used to be much riskier and more volatile in its first couple of decades of existence than it is now. Apple stock’s returns have been even better during this period that begins with the end of the dot-com correction:<b>35%</b>&nbsp;annualized.</p><p><blockquote>此外，我将我的分析限制在过去20年，因为该股票在其存在的头几十年里的风险和波动性都比现在高得多。在从互联网调整结束开始的这段时间里，苹果股票的回报甚至更好：<b>35%</b>年化。</blockquote></p><p> The chart below shows the distribution of&nbsp;<i>weekly returns</i>&nbsp;earned by an Apple stock investor, using the parameters described above, if the bet had been made on any give day since May 2001.</p><p><blockquote>下图显示了<i>每周回报</i>如果自2001年5月以来的任何一天下注，则由苹果股票投资者使用上述参数赚取。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d658a73af3c004123aa9e0d29906ebe7\" tg-width=\"703\" tg-height=\"418\"><span>Figure 2: AAPL investor's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：AAPL投资者的每周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: if held for one year, and based on historical observations alone (i.e. not on modeled projections for the future), Apple stock can arguably be expected to produce weekly returns of about +0.5% to +1.0%. Rarely has the stock been a big-time winner or loser – say, weekly returns of more than +2% or less than -1% on average – when the investment horizon is one year.</li> </ul> <b>#2. AAPL speculators: higher octane</b></p><p><blockquote><ul><li><b>关键观察</b>：如果持有一年，并且仅基于历史观察（即不是基于对未来的模型预测），苹果股票可以预期产生约+0.5%至+1.0%的周回报率。当投资期限为一年时，该股票很少成为大赢家或大输家（例如，平均每周回报率超过+2%或低于-1%）。</li></ul><b>#2.AAPL投机者：辛烷值更高</b></blockquote></p><p> Speculators have had a bit different experience from the above. Here, I characterize as “speculator” someone who buys AAPL and sells it ten weeks later, or roughly two and a half months after the purchase date.</p><p><blockquote>投机者的经历与上述略有不同。在这里，我将买入AAPL并在十周后（即购买日期后大约两个半月）卖出的人描述为“投机者”。</blockquote></p><p> See histogram below. For ease of comparison with the weekly return analysis immediately above, I kept the chart’s scale unchanged.</p><p><blockquote>参见下面的直方图。为了便于与上面的每周回报分析进行比较，我保持图表的比例不变。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/209f65d605439ca2f039619f15f5fc68\" tg-width=\"690\" tg-height=\"404\"><span>Figure 3: AAPL speculator's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：AAPL投机者的周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: the distribution above is still somewhat bell-shaped, meaning that a weekly return of between +0.5% and +1.0% is still quite common. However, notice the much “fatter tails”. The probability of larger weekly gains or losses tends to increase when Apple stock is held for ten weeks rather than one year.</li> </ul> <b>#3. AAPL day-traders: buckle up!</b></p><p><blockquote><ul><li><b>关键观察</b>：上面的分布仍然有点钟形，这意味着+0.5%到+1.0%之间的周回报率仍然很常见。然而，请注意“更胖的尾巴”。当苹果股票持有十周而不是一年时，每周收益或损失较大的概率往往会增加。</li></ul><b>#3.AAPL日内交易者：系好安全带！</b></blockquote></p><p> Lastly, day-traders that buy Apple stock and sell it within less than a full week have been playing a completely different game. Once again, the histogram below depicts the average<i>weekly return</i>in AAPL when the timeframe is compressed to no more than 7 days. The chart scale, again, remains unchanged for ease of comparison.</p><p><blockquote>最后，买入苹果股票并在不到一周的时间内卖出的日内交易者一直在玩一种完全不同的游戏。同样，下面的直方图描述了平均值<i>每周回报</i>在AAPL，当时间范围被压缩到不超过7天时。为了便于比较，图表比例保持不变。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f77febcce32d4bcc45cf275cc5936671\" tg-width=\"657\" tg-height=\"395\"><span>Figure 4: AAPL day traders's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图4：AAPL日内交易者的周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: when buying and selling AAPL in a matter of days, it is most common for the bets to result in much more sizable weekly gains or losses: less than -2.0% or more than +2.0%. Earning long-term average gains of about +0.5% to +1.0%, in these cases, has been a rarity.</li> </ul> <b>What to make of it all</b></p><p><blockquote><ul><li><b>关键观察</b>：当在几天内买卖AAPL时，最常见的情况是赌注会导致更大的每周收益或损失：小于-2.0%或大于+2.0%。在这些情况下，获得约+0.5%至+1.0%的长期平均收益是罕见的。</li></ul><b>如何理解这一切</b></blockquote></p><p> Back to the original question: how long should Apple stock be held? Based on historical analysis, the answer really depends on personal goals. Here is the roadmap:</p><p><blockquote>回到最初的问题：苹果股票应该持有多久？基于历史分析，答案确实取决于个人目标。以下是路线图：</blockquote></p><p></p><p> <ul>  <li>If merely seeking long-term capital appreciation that might be market-beating, but probably not by a very wide margin, buying AAPL and holding it for a year or more is highly advisable. Speculative bets of a few weeks here and there (say, selling into strength and buying into weakness based on price action) could help to boost returns, if the trades are well executed.</li>  <li>If seeking outsized gains, trading AAPL within days would be the best approach. However, this strategy is also the riskiest, as it could lead to outsized losses instead. I believe that day-trading Apple stock is the least advisable approach to most people, but possibly an interesting proposition for a select few.</li> </ul></p><p><blockquote><ul><li>如果只是寻求可能跑赢市场的长期资本增值，但幅度可能不会很大，那么购买AAPL并持有一年或更长时间是非常明智的。如果交易执行良好，在这里或那里进行几周的投机性押注（例如，根据价格走势在强势时卖出，在弱势时买入）可能有助于提高回报。</li><li>如果寻求巨额收益，在几天内交易AAPL将是最好的方法。然而，这种策略也是风险最大的，因为它可能会导致巨大的损失。我相信日内交易苹果股票对大多数人来说是最不可取的方法，但对少数人来说可能是一个有趣的提议。</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>Apple Stock: How Long Should You Hold It?<blockquote>苹果股票：你应该持有多久？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock: How Long Should You Hold It?<blockquote>苹果股票：你应该持有多久？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-05-21 20:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>For best performance, how long should Apple stock be held in a portfolio? The Apple Maven discusses what traders, speculators and investors should expect when betting on AAPL.</p><p><blockquote>为了获得最佳表现，苹果股票应该在投资组合中持有多长时间？这位苹果专家讨论了交易员、投机者和投资者在押注AAPL时应该期待什么。</blockquote></p><p> The&nbsp;Street’s&nbsp;Jim Cramer has said it repeatedly: own Apple stock (ticker $AAPL), don’t trade it. Today, the Apple Maven revisits this idea to help determine how long one should hold Apple shares.</p><p><blockquote>华尔街的吉姆·克莱默(Jim Cramer)多次表示：拥有苹果股票（股票代码$AAPL），不要交易它。今天，这位苹果专家重新审视了这个想法，以帮助确定应该持有苹果股票多长时间。</blockquote></p><p> Below is an analysis of how much one might expect to gain if (1) day-trading, (2) speculating on, or (3) investing in Apple stock. Obviously, since the future is uncertain, the analysis is based on historical data – which I believe can at least provide a blueprint for future share price performance.</p><p><blockquote>以下是对(1)日内交易、(2)投机或(3)投资苹果股票的预期收益的分析。显然，由于未来不确定，分析基于历史数据——我相信这至少可以为未来股价表现提供蓝图。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6726ed885cefb1c7f81fe0ac2f6eff7c\" tg-width=\"799\" tg-height=\"466\"><span>Figure 1: AAPL trading chart.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：AAPL交易图表。</span></p></blockquote></p><p> <b>#1. AAPL investors: long-term winners</b></p><p><blockquote><b>#1.AAPL投资者：长期赢家</b></blockquote></p><p> As I mentioned&nbsp;in my recent “Apple Stock 101” article, investors that bought Apple shares in December 1980 (i.e. the IPO date) and held onto them until now realized impressive annualized gains of&nbsp;<b>19%</b>. Clearly, AAPL has been a good asset to “get and forget” over Apple’s tenure as a publicly-traded company.</p><p><blockquote>正如我在最近的“苹果股票101”文章中提到的，在1980年12月（即IPO日期）购买苹果股票并持有至今的投资者实现了令人印象深刻的年化收益<b>19%</b>显然，在苹果担任上市公司期间，AAPL一直是一笔值得“忘记”的好资产。</blockquote></p><p> But allow me to work with more realistic time frames. For this exercise, I will consider “investors” those who hold AAPL for one year. To be clear, many might consider twelve months a minimum investment horizon to qualify as long term.</p><p><blockquote>但是请允许我用更现实的时间框架来工作。在这个练习中，我将把持有AAPL一年的人视为“投资者”。需要明确的是，许多人可能认为12个月是符合长期投资资格的最低投资期限。</blockquote></p><p> Also, I am limiting my analysis to the past 20 years, since the stock used to be much riskier and more volatile in its first couple of decades of existence than it is now. Apple stock’s returns have been even better during this period that begins with the end of the dot-com correction:<b>35%</b>&nbsp;annualized.</p><p><blockquote>此外，我将我的分析限制在过去20年，因为该股票在其存在的头几十年里的风险和波动性都比现在高得多。在从互联网调整结束开始的这段时间里，苹果股票的回报甚至更好：<b>35%</b>年化。</blockquote></p><p> The chart below shows the distribution of&nbsp;<i>weekly returns</i>&nbsp;earned by an Apple stock investor, using the parameters described above, if the bet had been made on any give day since May 2001.</p><p><blockquote>下图显示了<i>每周回报</i>如果自2001年5月以来的任何一天下注，则由苹果股票投资者使用上述参数赚取。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d658a73af3c004123aa9e0d29906ebe7\" tg-width=\"703\" tg-height=\"418\"><span>Figure 2: AAPL investor's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：AAPL投资者的每周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: if held for one year, and based on historical observations alone (i.e. not on modeled projections for the future), Apple stock can arguably be expected to produce weekly returns of about +0.5% to +1.0%. Rarely has the stock been a big-time winner or loser – say, weekly returns of more than +2% or less than -1% on average – when the investment horizon is one year.</li> </ul> <b>#2. AAPL speculators: higher octane</b></p><p><blockquote><ul><li><b>关键观察</b>：如果持有一年，并且仅基于历史观察（即不是基于对未来的模型预测），苹果股票可以预期产生约+0.5%至+1.0%的周回报率。当投资期限为一年时，该股票很少成为大赢家或大输家（例如，平均每周回报率超过+2%或低于-1%）。</li></ul><b>#2.AAPL投机者：辛烷值更高</b></blockquote></p><p> Speculators have had a bit different experience from the above. Here, I characterize as “speculator” someone who buys AAPL and sells it ten weeks later, or roughly two and a half months after the purchase date.</p><p><blockquote>投机者的经历与上述略有不同。在这里，我将买入AAPL并在十周后（即购买日期后大约两个半月）卖出的人描述为“投机者”。</blockquote></p><p> See histogram below. For ease of comparison with the weekly return analysis immediately above, I kept the chart’s scale unchanged.</p><p><blockquote>参见下面的直方图。为了便于与上面的每周回报分析进行比较，我保持图表的比例不变。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/209f65d605439ca2f039619f15f5fc68\" tg-width=\"690\" tg-height=\"404\"><span>Figure 3: AAPL speculator's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：AAPL投机者的周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: the distribution above is still somewhat bell-shaped, meaning that a weekly return of between +0.5% and +1.0% is still quite common. However, notice the much “fatter tails”. The probability of larger weekly gains or losses tends to increase when Apple stock is held for ten weeks rather than one year.</li> </ul> <b>#3. AAPL day-traders: buckle up!</b></p><p><blockquote><ul><li><b>关键观察</b>：上面的分布仍然有点钟形，这意味着+0.5%到+1.0%之间的周回报率仍然很常见。然而，请注意“更胖的尾巴”。当苹果股票持有十周而不是一年时，每周收益或损失较大的概率往往会增加。</li></ul><b>#3.AAPL日内交易者：系好安全带！</b></blockquote></p><p> Lastly, day-traders that buy Apple stock and sell it within less than a full week have been playing a completely different game. Once again, the histogram below depicts the average<i>weekly return</i>in AAPL when the timeframe is compressed to no more than 7 days. The chart scale, again, remains unchanged for ease of comparison.</p><p><blockquote>最后，买入苹果股票并在不到一周的时间内卖出的日内交易者一直在玩一种完全不同的游戏。同样，下面的直方图描述了平均值<i>每周回报</i>在AAPL，当时间范围被压缩到不超过7天时。为了便于比较，图表比例保持不变。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f77febcce32d4bcc45cf275cc5936671\" tg-width=\"657\" tg-height=\"395\"><span>Figure 4: AAPL day traders's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图4：AAPL日内交易者的周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: when buying and selling AAPL in a matter of days, it is most common for the bets to result in much more sizable weekly gains or losses: less than -2.0% or more than +2.0%. Earning long-term average gains of about +0.5% to +1.0%, in these cases, has been a rarity.</li> </ul> <b>What to make of it all</b></p><p><blockquote><ul><li><b>关键观察</b>：当在几天内买卖AAPL时，最常见的情况是赌注会导致更大的每周收益或损失：小于-2.0%或大于+2.0%。在这些情况下，获得约+0.5%至+1.0%的长期平均收益是罕见的。</li></ul><b>如何理解这一切</b></blockquote></p><p> Back to the original question: how long should Apple stock be held? Based on historical analysis, the answer really depends on personal goals. Here is the roadmap:</p><p><blockquote>回到最初的问题：苹果股票应该持有多久？基于历史分析，答案确实取决于个人目标。以下是路线图：</blockquote></p><p></p><p> <ul>  <li>If merely seeking long-term capital appreciation that might be market-beating, but probably not by a very wide margin, buying AAPL and holding it for a year or more is highly advisable. Speculative bets of a few weeks here and there (say, selling into strength and buying into weakness based on price action) could help to boost returns, if the trades are well executed.</li>  <li>If seeking outsized gains, trading AAPL within days would be the best approach. However, this strategy is also the riskiest, as it could lead to outsized losses instead. I believe that day-trading Apple stock is the least advisable approach to most people, but possibly an interesting proposition for a select few.</li> </ul></p><p><blockquote><ul><li>如果只是寻求可能跑赢市场的长期资本增值，但幅度可能不会很大，那么购买AAPL并持有一年或更长时间是非常明智的。如果交易执行良好，在这里或那里进行几周的投机性押注（例如，根据价格走势在强势时卖出，在弱势时买入）可能有助于提高回报。</li><li>如果寻求巨额收益，在几天内交易AAPL将是最好的方法。然而，这种策略也是风险最大的，因为它可能会导致巨大的损失。我相信日内交易苹果股票对大多数人来说是最不可取的方法，但对少数人来说可能是一个有趣的提议。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/stock/apple-stock-how-long-should-you-hold-it\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/apple-stock-how-long-should-you-hold-it","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197544614","content_text":"For best performance, how long should Apple stock be held in a portfolio? The Apple Maven discusses what traders, speculators and investors should expect when betting on AAPL.\nThe Street’s Jim Cramer has said it repeatedly: own Apple stock (ticker $AAPL), don’t trade it. Today, the Apple Maven revisits this idea to help determine how long one should hold Apple shares.\nBelow is an analysis of how much one might expect to gain if (1) day-trading, (2) speculating on, or (3) investing in Apple stock. Obviously, since the future is uncertain, the analysis is based on historical data – which I believe can at least provide a blueprint for future share price performance.\nFigure 1: AAPL trading chart.\n#1. AAPL investors: long-term winners\nAs I mentioned in my recent “Apple Stock 101” article, investors that bought Apple shares in December 1980 (i.e. the IPO date) and held onto them until now realized impressive annualized gains of 19%. Clearly, AAPL has been a good asset to “get and forget” over Apple’s tenure as a publicly-traded company.\nBut allow me to work with more realistic time frames. For this exercise, I will consider “investors” those who hold AAPL for one year. To be clear, many might consider twelve months a minimum investment horizon to qualify as long term.\nAlso, I am limiting my analysis to the past 20 years, since the stock used to be much riskier and more volatile in its first couple of decades of existence than it is now. Apple stock’s returns have been even better during this period that begins with the end of the dot-com correction:35% annualized.\nThe chart below shows the distribution of weekly returns earned by an Apple stock investor, using the parameters described above, if the bet had been made on any give day since May 2001.\nFigure 2: AAPL investor's weekly return distribution.\n\nKey observation: if held for one year, and based on historical observations alone (i.e. not on modeled projections for the future), Apple stock can arguably be expected to produce weekly returns of about +0.5% to +1.0%. Rarely has the stock been a big-time winner or loser – say, weekly returns of more than +2% or less than -1% on average – when the investment horizon is one year.\n\n#2. AAPL speculators: higher octane\nSpeculators have had a bit different experience from the above. Here, I characterize as “speculator” someone who buys AAPL and sells it ten weeks later, or roughly two and a half months after the purchase date.\nSee histogram below. For ease of comparison with the weekly return analysis immediately above, I kept the chart’s scale unchanged.\nFigure 3: AAPL speculator's weekly return distribution.\n\nKey observation: the distribution above is still somewhat bell-shaped, meaning that a weekly return of between +0.5% and +1.0% is still quite common. However, notice the much “fatter tails”. The probability of larger weekly gains or losses tends to increase when Apple stock is held for ten weeks rather than one year.\n\n#3. AAPL day-traders: buckle up!\nLastly, day-traders that buy Apple stock and sell it within less than a full week have been playing a completely different game. Once again, the histogram below depicts the averageweekly returnin AAPL when the timeframe is compressed to no more than 7 days. The chart scale, again, remains unchanged for ease of comparison.\nFigure 4: AAPL day traders's weekly return distribution.\n\nKey observation: when buying and selling AAPL in a matter of days, it is most common for the bets to result in much more sizable weekly gains or losses: less than -2.0% or more than +2.0%. Earning long-term average gains of about +0.5% to +1.0%, in these cases, has been a rarity.\n\nWhat to make of it all\nBack to the original question: how long should Apple stock be held? Based on historical analysis, the answer really depends on personal goals. Here is the roadmap:\n\nIf merely seeking long-term capital appreciation that might be market-beating, but probably not by a very wide margin, buying AAPL and holding it for a year or more is highly advisable. Speculative bets of a few weeks here and there (say, selling into strength and buying into weakness based on price action) could help to boost returns, if the trades are well executed.\nIf seeking outsized gains, trading AAPL within days would be the best approach. However, this strategy is also the riskiest, as it could lead to outsized losses instead. I believe that day-trading Apple stock is the least advisable approach to most people, but possibly an interesting proposition for a select few.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1083,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197360695,"gmtCreate":1621429285317,"gmtModify":1634189242625,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/197360695","repostId":"2136196839","repostType":4,"isVote":1,"tweetType":1,"viewCount":1704,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194914350,"gmtCreate":1621333587270,"gmtModify":1634192376859,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/194914350","repostId":"2136738931","repostType":4,"repost":{"id":"2136738931","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":1621318800,"share":"https://www.laohu8.com/m/news/2136738931?lang=zh_CN&edition=full","pubTime":"2021-05-18 14:20","market":"hk","language":"en","title":"JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2136738931","media":"Tiger Newspress","summary":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering  to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion  if the deal is priced at the top end.JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics' offering is expected to be the second multibilli","content":"<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</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>JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-18 14:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02618":"京东物流"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136738931","content_text":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.（Click here To apply for the JD Logistics Shares）JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.","news_type":1,"symbols_score_info":{"02618":0.9}},"isVote":1,"tweetType":1,"viewCount":3058,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":195309320,"gmtCreate":1621254781460,"gmtModify":1634193025952,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/195309320","repostId":"2135984810","repostType":4,"isVote":1,"tweetType":1,"viewCount":1217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193721660,"gmtCreate":1620822655950,"gmtModify":1634196069390,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/193721660","repostId":"1199419646","repostType":4,"isVote":1,"tweetType":1,"viewCount":3054,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104205382,"gmtCreate":1620391214146,"gmtModify":1634205585437,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/104205382","repostId":"1102771557","repostType":4,"isVote":1,"tweetType":1,"viewCount":2726,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106582845,"gmtCreate":1620134316687,"gmtModify":1634207576948,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/106582845","repostId":"1163572835","repostType":4,"isVote":1,"tweetType":1,"viewCount":2232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106586247,"gmtCreate":1620134272489,"gmtModify":1634207577851,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/106586247","repostId":"1141446343","repostType":4,"repost":{"id":"1141446343","kind":"news","pubTimestamp":1620108260,"share":"https://www.laohu8.com/m/news/1141446343?lang=zh_CN&edition=full","pubTime":"2021-05-04 14:04","market":"us","language":"en","title":"Bill and Melinda Gates are getting divorced. Here are some stocks they owned<blockquote>比尔和梅林达·盖茨要离婚了。以下是他们拥有的一些股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141446343","media":"seeking alpha","summary":"Though the pairin a statement assuredthe public that they will continue to work together at their foundation despiteending their marriage, the news about the Microsoftfounder and his partner of 27 years may send shockwaves across their projects.In the latest13F filingfrom the Bill and Melinda Gates Foundation Trust for the period ended 12/31/20, top holdings by value in descending order included Berkshire Hathaway, Waste Management, Caterpillar, Canadian National, Walmart, EcoLab, Crown Castle, ","content":"<p><ul><li>Though the pairin a statement assuredthe public that they will continue to work together at their foundation despiteending their marriage, the news about the Microsoft(NASDAQ:MSFT)founder and his partner of 27 years may send shockwaves across their projects.</li><li>In the latest13F filingfrom the Bill and Melinda Gates Foundation Trust for the period ended 12/31/20, top holdings by value in descending order included Berkshire Hathaway(NYSE:BRK.B), Waste Management(NYSE:WM), Caterpillar(NYSE:CAT), Canadian National(NYSE:CNI), Walmart(NYSE:WMT), EcoLab(NYSE:ECL), Crown Castle(NYSE:CCI), Fedex(NYSE:FDX)and UPS(NYSE:UPS).</li><li><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> stocks in which the foundation has a large stake (more than 10% of shares outstanding) included Schrodinger(NASDAQ:SDGR)and Coca-Cola Femsa(NYSE:KOF).</li><li>Most of the other holdings were below $1 billion in market value and their ownership consisted of less than 3% of shares outstanding in the associated stock.</li><li>The Bill and Melinda Gates Foundation, in their latestquarterly filing, disclosed ownership stakes in Amyris(NASDAQ:AMRS), Vir Biotech(NASDAQ:VIR), BionTech(NASDAQ:BNTX), Curevac(NASDAQ:CVAC)and <a href=\"https://laohu8.com/S/BCEL\">Atreca</a>(NASDAQ:BCEL).</li><li>Our readers may recall when the world's richest person, Jeff Bezos, and his partner Mackenzie Scottcalled it quits two years ago.&nbsp;This is how their wealth ended upsplit between them.</li></ul></p><p><blockquote><ul><li>尽管这对夫妇在一份声明中向公众保证，尽管结束了婚姻，他们仍将继续在基金会合作，但有关微软（纳斯达克：MSFT）创始人和他27年的合作伙伴的消息可能会给他们的项目带来冲击波。</li><li>在比尔和梅琳达·盖茨基金会信托基金截至2020年12月31日的最新13F文件中，按价值降序排列的最大持股包括伯克希尔·哈撒韦公司(NYSE：BRK.B)、废物管理公司(NYSE：WM)、卡特彼勒(NYSE：CAT)、加拿大国家航空公司(NYSE：CNI)、沃尔玛(NYSE：WMT)、艺康(NYSE：ECL)、皇冠城堡(NYSE：CCI)、联邦快递(NYSE：FDX)和UPS(NYSE：UPS)。</li><li><a href=\"https://laohu8.com/S/TWOA.U\">两个</a>该基金会持有大量股份（超过已发行股票的10%）的股票包括薛定谔（纳斯达克股票代码：SDGR）和可口可乐Femsa（纽约证券交易所股票代码：KOF）。</li><li>大多数其他持股的市值低于10亿美元，其所有权仅占相关股票已发行股份的不到3%。</li><li>比尔和梅琳达·盖茨基金会在最新的季度文件中披露了Amyris（纳斯达克：AMRS）、Vir Biotech（纳斯达克：VIR）、BionTech（纳斯达克：BNTX）、Curevac（纳斯达克：CVAC）和<a href=\"https://laohu8.com/S/BCEL\">阿特雷卡</a>（纳斯达克：BCEL）。</li><li>我们的读者可能还记得两年前世界首富杰夫·贝索斯和他的合伙人麦肯兹·斯科特宣布分手的时候。他们的财富就是这样在他们之间分配的。</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>Bill and Melinda Gates are getting divorced. Here are some stocks they owned<blockquote>比尔和梅林达·盖茨要离婚了。以下是他们拥有的一些股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBill and Melinda Gates are getting divorced. Here are some stocks they owned<blockquote>比尔和梅林达·盖茨要离婚了。以下是他们拥有的一些股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seeking alpha</strong><span class=\"h-time small\">2021-05-04 14:04</span>\n</p>\n</h4>\n</header>\n<article>\n<p><ul><li>Though the pairin a statement assuredthe public that they will continue to work together at their foundation despiteending their marriage, the news about the Microsoft(NASDAQ:MSFT)founder and his partner of 27 years may send shockwaves across their projects.</li><li>In the latest13F filingfrom the Bill and Melinda Gates Foundation Trust for the period ended 12/31/20, top holdings by value in descending order included Berkshire Hathaway(NYSE:BRK.B), Waste Management(NYSE:WM), Caterpillar(NYSE:CAT), Canadian National(NYSE:CNI), Walmart(NYSE:WMT), EcoLab(NYSE:ECL), Crown Castle(NYSE:CCI), Fedex(NYSE:FDX)and UPS(NYSE:UPS).</li><li><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> stocks in which the foundation has a large stake (more than 10% of shares outstanding) included Schrodinger(NASDAQ:SDGR)and Coca-Cola Femsa(NYSE:KOF).</li><li>Most of the other holdings were below $1 billion in market value and their ownership consisted of less than 3% of shares outstanding in the associated stock.</li><li>The Bill and Melinda Gates Foundation, in their latestquarterly filing, disclosed ownership stakes in Amyris(NASDAQ:AMRS), Vir Biotech(NASDAQ:VIR), BionTech(NASDAQ:BNTX), Curevac(NASDAQ:CVAC)and <a href=\"https://laohu8.com/S/BCEL\">Atreca</a>(NASDAQ:BCEL).</li><li>Our readers may recall when the world's richest person, Jeff Bezos, and his partner Mackenzie Scottcalled it quits two years ago.&nbsp;This is how their wealth ended upsplit between them.</li></ul></p><p><blockquote><ul><li>尽管这对夫妇在一份声明中向公众保证，尽管结束了婚姻，他们仍将继续在基金会合作，但有关微软（纳斯达克：MSFT）创始人和他27年的合作伙伴的消息可能会给他们的项目带来冲击波。</li><li>在比尔和梅琳达·盖茨基金会信托基金截至2020年12月31日的最新13F文件中，按价值降序排列的最大持股包括伯克希尔·哈撒韦公司(NYSE：BRK.B)、废物管理公司(NYSE：WM)、卡特彼勒(NYSE：CAT)、加拿大国家航空公司(NYSE：CNI)、沃尔玛(NYSE：WMT)、艺康(NYSE：ECL)、皇冠城堡(NYSE：CCI)、联邦快递(NYSE：FDX)和UPS(NYSE：UPS)。</li><li><a href=\"https://laohu8.com/S/TWOA.U\">两个</a>该基金会持有大量股份（超过已发行股票的10%）的股票包括薛定谔（纳斯达克股票代码：SDGR）和可口可乐Femsa（纽约证券交易所股票代码：KOF）。</li><li>大多数其他持股的市值低于10亿美元，其所有权仅占相关股票已发行股份的不到3%。</li><li>比尔和梅琳达·盖茨基金会在最新的季度文件中披露了Amyris（纳斯达克：AMRS）、Vir Biotech（纳斯达克：VIR）、BionTech（纳斯达克：BNTX）、Curevac（纳斯达克：CVAC）和<a href=\"https://laohu8.com/S/BCEL\">阿特雷卡</a>（纳斯达克：BCEL）。</li><li>我们的读者可能还记得两年前世界首富杰夫·贝索斯和他的合伙人麦肯兹·斯科特宣布分手的时候。他们的财富就是这样在他们之间分配的。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3689813-bill-and-melinda-gates-are-getting-divorced-here-are-some-stocks-they-owned\">seeking alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WCLD":"WisdomTree Cloud Computing Fund","WMT":"沃尔玛","CCI":"冠城","WM":"美国废物管理","FDX":"联邦快递","SDGR":"Schrodinger Inc.","VIR":"Vir Biotechnology, Inc.","MSFT":"微软","KOF":"可口可乐凡萨瓶装","BRK.B":"伯克希尔B","UPS":"联合包裹","BNTX":"BioNTech SE","CVAC":"CureVac B.V.","AMRS":"阿米瑞斯","CAT":"卡特彼勒","CNI":"加拿大国家铁路"},"source_url":"https://seekingalpha.com/news/3689813-bill-and-melinda-gates-are-getting-divorced-here-are-some-stocks-they-owned","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141446343","content_text":"Though the pairin a statement assuredthe public that they will continue to work together at their foundation despiteending their marriage, the news about the Microsoft(NASDAQ:MSFT)founder and his partner of 27 years may send shockwaves across their projects.In the latest13F filingfrom the Bill and Melinda Gates Foundation Trust for the period ended 12/31/20, top holdings by value in descending order included Berkshire Hathaway(NYSE:BRK.B), Waste Management(NYSE:WM), Caterpillar(NYSE:CAT), Canadian National(NYSE:CNI), Walmart(NYSE:WMT), EcoLab(NYSE:ECL), Crown Castle(NYSE:CCI), Fedex(NYSE:FDX)and UPS(NYSE:UPS).Two stocks in which the foundation has a large stake (more than 10% of shares outstanding) included Schrodinger(NASDAQ:SDGR)and Coca-Cola Femsa(NYSE:KOF).Most of the other holdings were below $1 billion in market value and their ownership consisted of less than 3% of shares outstanding in the associated stock.The Bill and Melinda Gates Foundation, in their latestquarterly filing, disclosed ownership stakes in Amyris(NASDAQ:AMRS), Vir Biotech(NASDAQ:VIR), BionTech(NASDAQ:BNTX), Curevac(NASDAQ:CVAC)and Atreca(NASDAQ:BCEL).Our readers may recall when the world's richest person, Jeff Bezos, and his partner Mackenzie Scottcalled it quits two years ago. This is how their wealth ended upsplit between them.","news_type":1,"symbols_score_info":{"CVAC":0.9,"WMT":0.9,"BRK.B":0.9,"BCEL":0.9,"MSFT":0.9,"KOF":0.9,"CNI":0.9,"CAT":0.9,"UPS":0.9,"CCI":0.9,"BNTX":0.9,"WCLD":0.9,"WM":0.9,"AMRS":0.9,"FDX":0.9,"SDGR":0.9,"VIR":0.9}},"isVote":1,"tweetType":1,"viewCount":493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108515268,"gmtCreate":1620040519754,"gmtModify":1634208324375,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108515268","repostId":"2132359636","repostType":4,"isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109266228,"gmtCreate":1619700915464,"gmtModify":1634210622791,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109266228","repostId":"1183966356","repostType":4,"repost":{"id":"1183966356","kind":"news","pubTimestamp":1619665696,"share":"https://www.laohu8.com/m/news/1183966356?lang=zh_CN&edition=full","pubTime":"2021-04-29 11:08","market":"us","language":"en","title":"NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183966356","media":"InvestoPedia","summary":"Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.Revenue is expected to soar on expanding vehicle sales.NIO Inc. , like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles . NIO's production stoppage in late March had little impact on the company's record ve","content":"<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每股美国存托凭证亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度汽车交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>","source":"lsy1606203311635","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</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\">\nNIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestoPedia</strong><span class=\"h-time small\">2021-04-29 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每股美国存托凭证亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度汽车交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991\">InvestoPedia</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183966356","content_text":"Focus on NIO vehicle deliveries\nKEY TAKEAWAYS\n\nAnalysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.\nVehicle deliveries, already announced, rose dramatically YOY.\nRevenue is expected to soar on expanding vehicle sales.\n\nNIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.\nInvestors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.\nVehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.\nShares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&P 500's total return of 45.5%.\nSource: TradingView.\nNIO Earnings History\nThe stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's Q4 FY 2020 earnings report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its gross margin rose to 17.2% compared to negative 8.9% in the year-ago quarter.\nIn Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.\nAnalysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.\nSource: Visible Alpha; NIO Inc.\nThe Key Metric\nAs mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.\nNIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":472,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354409536,"gmtCreate":1617193338325,"gmtModify":1634522168053,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354409536","repostId":"1165057178","repostType":4,"repost":{"id":"1165057178","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":1617192243,"share":"https://www.laohu8.com/m/news/1165057178?lang=zh_CN&edition=full","pubTime":"2021-03-31 20:04","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165057178","media":"Tiger Newspress","summary":"U.S. Futures Mixed, Nasdaq future rally;Private payrolls rose by 517,000 in March, vs 525,000 estima","content":"<p><ul><li>U.S. Futures Mixed,&nbsp;Nasdaq&nbsp;future&nbsp;rally;</li><li>Private payrolls rose by 517,000 in March, vs 525,000 estimate, ADP says.</li><li>Chewy, BlackBerry, BioNTech &amp; more&nbsp;making the biggest moves in the premarket.</li></ul>(March 31)&nbsp;S&amp;P 500 futures were flat on Wednesday, as investors awaited details of how President Joe Biden would fund a massive infrastructure plan, while Wall Street headed for its fourth straight quarterly gain on signs of a strong economic rebound.</p><p><blockquote><ul><li>美国期货涨跌不一，纳斯达克期货上涨；</li><li>ADP表示，3月份私人就业人数增加517,000人，高于预期的525,000人。</li><li>Chewy、黑莓、BioNTech等在上市前做出了最大的举措。</li></ul>（3月31日）标普500指数期货周三持平，因投资者等待总统拜登将如何为大规模基础设施计划提供资金的细节，而华尔街因经济强劲反弹的迹象而连续第四个季度上涨。</blockquote></p><p>At 8:01 a.m. ET, Dow E-minis were down 26 points, or 0.08%, S&amp;P 500 E-minis were up 5 points, or 0.13% and Nasdaq 100 E-minis were rose&nbsp;76.75 points, or 0.60%.</p><p><blockquote>截至美国东部时间上午8点01分，道琼斯指数下跌26点，跌幅0.08%，标普500指数上涨5点，跌幅0.13%，纳斯达克100指数上涨76.75点，跌幅0.60%。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/13059b6147eebcba983b1026858b8ff5\" tg-width=\"1242\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>*Source FromTiger Trade, EST 08:01</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源：Tiger Trade，美国东部时间08:01</span></p></blockquote></p><p><b>Stocks making the biggest moves in the premarket: Chewy, BlackBerry, BioNTech &amp; more:</b></p><p><blockquote><b>盘前涨幅最大的股票：Chewy、黑莓、BioNTech等：</b></blockquote></p><p>1)&nbsp;Chewy(CHWY) – The pet products seller earned a surprise profit of 5 cents per share, compared to expectations of a 10 cents per share loss. Revenue also beat estimates as net sales surged 47% from a year ago, as homebound consumers ordered more of their pet food and other pet products. Chewy shares surged 10.4% in premarket trading.</p><p><blockquote>1)Chewy(CHWY)——这家宠物产品销售商出人意料地获得了每股5美分的利润，而预期每股亏损10美分。由于居家消费者订购了更多宠物食品和其他宠物产品，净销售额同比飙升47%，收入也超出了预期。Chewy股价在盘前交易中飙升10.4%。</blockquote></p><p>2)&nbsp;BlackBerry(BB) – Shares of the communications software company fell 5.9% in premarket action following its quarterly results. BlackBerry matched estimates with adjusted quarterly earnings of 3 cents per share, but revenue fell short of forecasts amid slower demand for the company’s QNX care software.</p><p><blockquote>2)黑莓(BB)——这家通信软件公司公布季度业绩后，其股价在盘前下跌5.9%。黑莓调整后季度收益为每股3美分，符合预期，但由于对该公司QNX care软件的需求放缓，收入低于预期。</blockquote></p><p>3)&nbsp;Pfizer(PFE) – The drugmaker said the Covid-19 vaccine made by Pfizer and German partnerBioNTech(BNTX)was 100% effective and well-tolerated in a trial of 12- to 15-year-olds. Given those results, Pfizer said it expects to ask regulators to approve the use of the shots for that age group. BioNTech shares rose 2.8% in premarket trading, while Pfizer was up 0.7%.</p><p><blockquote>3)辉瑞(PFE)——该制药商表示，辉瑞和德国合作伙伴BioNTech(BNTX)生产的Covid-19疫苗在12至15岁儿童的试验中100%有效且耐受性良好。鉴于这些结果，辉瑞表示，预计将要求监管机构批准该年龄段的疫苗使用。BioNTech股价在盘前交易中上涨2.8%，辉瑞股价上涨0.7%。</blockquote></p><p>4)&nbsp;Walgreens(WBA) – The drugstore operator reported quarterly earnings of $1.40 per share, beating the consensus estimate of $1.11 a share. The company also raised its full-year guidance. Walgreens said quarterly earnings were pressured in part by weaker sales of cold, cough and flu products. Shares of Walgreens rose 2.1% in the premarket.</p><p><blockquote>4)沃尔格林(WBA)——这家药店运营商公布的季度收益为每股1.40美元，超出了每股1.11美元的普遍预期。该公司还上调了全年指引。沃尔格林表示，季度收益部分受到感冒、咳嗽和流感产品销售疲软的压力。沃尔格林股价盘前上涨2.1%。</blockquote></p><p>5)&nbsp;Lululemon(LULU) – The stock fell 1.8% in premarket action despitea beat on the top and bottom linesfor the athletic apparel and leisurewear company. Lululemon beat estimates by 9 cents a share, with quarterly earnings of $2.58 per share. Revenue came in above estimates as well. Brick and mortar comparable sales slumped 28% amid the pandemic, but that was offset by a surge in digital sales.</p><p><blockquote>5)Lululemon(LULU)——尽管这家运动服装和休闲服公司的营收和利润均有所改善，但该股在盘前下跌1.8%。Lululemon每股收益超出预期9美分，季度收益为每股2.58美元。收入也高于预期。在疫情期间，实体可比销售额下降了28%，但这被数字销售额的激增所抵消。</blockquote></p><p>6)&nbsp;Tilray(TLRY),Canopy Growth(CGC),Aphria(APHA),Aurora Cannabis(ACG) – Marijuana stocks are rising afterNew York State passed a billto become the 15th state to legalize recreational use, with Gov. Andrew Cuomo expected to sign it. Tilray rose 3.5% in the premarket, Canopy Growth gained 1%, Aphria climbed 3.9%, and Aurora Cannabis edged up 0.7%.</p><p><blockquote>6)Tilray(TLRY)、Canopy Growth(CGC)、Aphria(APHA)、Aurora Cannabis(ACG)—纽约州通过一项法案，成为第15个娱乐用途合法化的州，预计州长安德鲁·科莫将签署它。Tilray盘前上涨3.5%，Canopy Growth上涨1%，Aphria上涨3.9%，Aurora Cannabis小幅上涨0.7%。</blockquote></p><p>7)&nbsp;PVH(PVH) – The apparel company lost 38 cents per share for its latest quarter, 4 cents a share more than analysts were anticipating. Revenue came in slightly below estimates as well. PVH said it does expect to return to profit this fiscal year, but its projections are shy of analyst estimates and its shares fell 1.1% in premarket action.</p><p><blockquote>7)PVH(PVH)——这家服装公司最近一个季度每股亏损38美分，比分析师预期高出4美分。收入也略低于预期。PVH表示，预计本财年将恢复盈利，但其预测低于分析师预期，其股价在盘前下跌1.1%。</blockquote></p><p>8)&nbsp;Cleveland-Cliffs(CLF) – The steel producer’s shares surged 6.8% premarket after it announced preliminary results for the quarter that ends today. The projected earnings for the quarter and the full year are well above current Wall Street projections.</p><p><blockquote>8)克利夫兰克利夫斯(CLF)——这家钢铁生产商公布截至今天的季度初步业绩后，其股价盘前飙升6.8%。该季度和全年的预计收益远高于华尔街目前的预测。</blockquote></p><p>9)&nbsp;Harley-Davidson(HOG) – The motorcycle maker’s shares gained 2.9% in premarket trading after Baird upgraded the stock to “outperform” from “neutral.” Baird noted that it was the first time since 2016 that it had rated the stock “outperform,” saying the company’s change in strategic direction and lean inventories were among the positive factors behind the upgrade.</p><p><blockquote>9)哈雷戴维森(HOG)——贝尔德将该股评级从“中性”上调至“跑赢大盘”后，这家摩托车制造商的股价在盘前交易中上涨2.9%。贝尔德指出，这是自2016年以来首次将该股评级为“跑赢大盘”，并表示该公司战略方向的变化和精益库存是此次上调背后的积极因素之一。</blockquote></p><p>10)&nbsp;Apple(AAPL) – UBS upgraded Apple to “buy” from “neutral,” saying it expected more stable long-term iPhone demand and stronger average sales prices. Apple rose 1.6% in the premarket.</p><p><blockquote>10)苹果(AAPL)-瑞银将苹果评级从“中性”上调至“买入”，称预计iPhone长期需求将更加稳定，平均销售价格将更加强劲。苹果盘前上涨1.6%。</blockquote></p><p>11)&nbsp;Applied Materials(AMAT) – The semiconductor manufacturing equipment maker was rated “outperform” in new coverage at Bernstein, noting what it calls a long-term positive structural stance. Applied Materials rose 2.8% in premarket trading.</p><p><blockquote>11)应用材料公司(AMAT)——这家半导体制造设备制造商在Bernstein的新报道中被评为“跑赢大盘”，并指出其评级长期积极的结构性立场。应用材料公司在盘前交易中上涨2.8%。</blockquote></p><p><b>Big&nbsp;News</b></p><p><blockquote><b>大新闻</b></blockquote></p><p><b>1.&nbsp;Private payrolls rose by 517,000 in March, less than expected</b></p><p><blockquote><b>1.3月私人就业人数增加51.7万人，不及预期</b></blockquote></p><p></p><p><ul><li>Private payrolls rose by 517,000 in March, the fastest pace since September 2020, according to ADP.</li><li>The total was just below the Dow Jones estimate of 525,000 but well above February’s 176,000.</li><li>Hospitality led the way, with the battered sector adding 169,000 new workers.</li></ul><b>2. Biden set to unveil his $2 trillion infrastructure plan</b></p><p><blockquote><ul><li>ADP的数据显示，3月份私人就业人数增加了51.7万人，为2020年9月以来的最快增速。</li><li>总数略低于道琼斯估计的525,000人，但远高于2月份的176,000人。</li><li>酒店业处于领先地位，遭受重创的行业增加了169,000名新员工。</li></ul><b>2.拜登将公布其2万亿美元基础设施计划</b></blockquote></p><p>PresidentJoe Bidenwill unveil a more than $2 trillion infrastructure and economic recovery package Wednesday. The plan aims to revitalize U.S. transportation infrastructure, water systems, broadband and manufacturing, among other goals. An increase in the corporate tax rate to 28% and measures designed to prevent the offshoring of profits will fund the spending,according to the White House. Biden hopes the package will create manufacturing jobs and rescue failing American infrastructure as the country tries to emerge from the shadow of Covid.</p><p><blockquote>总统乔·拜登将于周三公布超过2万亿美元的基础设施和经济复苏计划。该计划旨在振兴美国交通基础设施、供水系统、宽带和制造业等目标。白宫表示，将企业税率提高至28%以及旨在防止利润离岸的措施将为支出提供资金。拜登希望该计划能够创造制造业就业机会，并在美国试图走出新冠疫情的阴影时拯救失败的美国基础设施。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-31 20:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><ul><li>U.S. Futures Mixed,&nbsp;Nasdaq&nbsp;future&nbsp;rally;</li><li>Private payrolls rose by 517,000 in March, vs 525,000 estimate, ADP says.</li><li>Chewy, BlackBerry, BioNTech &amp; more&nbsp;making the biggest moves in the premarket.</li></ul>(March 31)&nbsp;S&amp;P 500 futures were flat on Wednesday, as investors awaited details of how President Joe Biden would fund a massive infrastructure plan, while Wall Street headed for its fourth straight quarterly gain on signs of a strong economic rebound.</p><p><blockquote><ul><li>美国期货涨跌不一，纳斯达克期货上涨；</li><li>ADP表示，3月份私人就业人数增加517,000人，高于预期的525,000人。</li><li>Chewy、黑莓、BioNTech等在上市前做出了最大的举措。</li></ul>（3月31日）标普500指数期货周三持平，因投资者等待总统拜登将如何为大规模基础设施计划提供资金的细节，而华尔街因经济强劲反弹的迹象而连续第四个季度上涨。</blockquote></p><p>At 8:01 a.m. ET, Dow E-minis were down 26 points, or 0.08%, S&amp;P 500 E-minis were up 5 points, or 0.13% and Nasdaq 100 E-minis were rose&nbsp;76.75 points, or 0.60%.</p><p><blockquote>截至美国东部时间上午8点01分，道琼斯指数下跌26点，跌幅0.08%，标普500指数上涨5点，跌幅0.13%，纳斯达克100指数上涨76.75点，跌幅0.60%。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/13059b6147eebcba983b1026858b8ff5\" tg-width=\"1242\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>*Source FromTiger Trade, EST 08:01</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源：Tiger Trade，美国东部时间08:01</span></p></blockquote></p><p><b>Stocks making the biggest moves in the premarket: Chewy, BlackBerry, BioNTech &amp; more:</b></p><p><blockquote><b>盘前涨幅最大的股票：Chewy、黑莓、BioNTech等：</b></blockquote></p><p>1)&nbsp;Chewy(CHWY) – The pet products seller earned a surprise profit of 5 cents per share, compared to expectations of a 10 cents per share loss. Revenue also beat estimates as net sales surged 47% from a year ago, as homebound consumers ordered more of their pet food and other pet products. Chewy shares surged 10.4% in premarket trading.</p><p><blockquote>1)Chewy(CHWY)——这家宠物产品销售商出人意料地获得了每股5美分的利润，而预期每股亏损10美分。由于居家消费者订购了更多宠物食品和其他宠物产品，净销售额同比飙升47%，收入也超出了预期。Chewy股价在盘前交易中飙升10.4%。</blockquote></p><p>2)&nbsp;BlackBerry(BB) – Shares of the communications software company fell 5.9% in premarket action following its quarterly results. BlackBerry matched estimates with adjusted quarterly earnings of 3 cents per share, but revenue fell short of forecasts amid slower demand for the company’s QNX care software.</p><p><blockquote>2)黑莓(BB)——这家通信软件公司公布季度业绩后，其股价在盘前下跌5.9%。黑莓调整后季度收益为每股3美分，符合预期，但由于对该公司QNX care软件的需求放缓，收入低于预期。</blockquote></p><p>3)&nbsp;Pfizer(PFE) – The drugmaker said the Covid-19 vaccine made by Pfizer and German partnerBioNTech(BNTX)was 100% effective and well-tolerated in a trial of 12- to 15-year-olds. Given those results, Pfizer said it expects to ask regulators to approve the use of the shots for that age group. BioNTech shares rose 2.8% in premarket trading, while Pfizer was up 0.7%.</p><p><blockquote>3)辉瑞(PFE)——该制药商表示，辉瑞和德国合作伙伴BioNTech(BNTX)生产的Covid-19疫苗在12至15岁儿童的试验中100%有效且耐受性良好。鉴于这些结果，辉瑞表示，预计将要求监管机构批准该年龄段的疫苗使用。BioNTech股价在盘前交易中上涨2.8%，辉瑞股价上涨0.7%。</blockquote></p><p>4)&nbsp;Walgreens(WBA) – The drugstore operator reported quarterly earnings of $1.40 per share, beating the consensus estimate of $1.11 a share. The company also raised its full-year guidance. Walgreens said quarterly earnings were pressured in part by weaker sales of cold, cough and flu products. Shares of Walgreens rose 2.1% in the premarket.</p><p><blockquote>4)沃尔格林(WBA)——这家药店运营商公布的季度收益为每股1.40美元，超出了每股1.11美元的普遍预期。该公司还上调了全年指引。沃尔格林表示，季度收益部分受到感冒、咳嗽和流感产品销售疲软的压力。沃尔格林股价盘前上涨2.1%。</blockquote></p><p>5)&nbsp;Lululemon(LULU) – The stock fell 1.8% in premarket action despitea beat on the top and bottom linesfor the athletic apparel and leisurewear company. Lululemon beat estimates by 9 cents a share, with quarterly earnings of $2.58 per share. Revenue came in above estimates as well. Brick and mortar comparable sales slumped 28% amid the pandemic, but that was offset by a surge in digital sales.</p><p><blockquote>5)Lululemon(LULU)——尽管这家运动服装和休闲服公司的营收和利润均有所改善，但该股在盘前下跌1.8%。Lululemon每股收益超出预期9美分，季度收益为每股2.58美元。收入也高于预期。在疫情期间，实体可比销售额下降了28%，但这被数字销售额的激增所抵消。</blockquote></p><p>6)&nbsp;Tilray(TLRY),Canopy Growth(CGC),Aphria(APHA),Aurora Cannabis(ACG) – Marijuana stocks are rising afterNew York State passed a billto become the 15th state to legalize recreational use, with Gov. Andrew Cuomo expected to sign it. Tilray rose 3.5% in the premarket, Canopy Growth gained 1%, Aphria climbed 3.9%, and Aurora Cannabis edged up 0.7%.</p><p><blockquote>6)Tilray(TLRY)、Canopy Growth(CGC)、Aphria(APHA)、Aurora Cannabis(ACG)—纽约州通过一项法案，成为第15个娱乐用途合法化的州，预计州长安德鲁·科莫将签署它。Tilray盘前上涨3.5%，Canopy Growth上涨1%，Aphria上涨3.9%，Aurora Cannabis小幅上涨0.7%。</blockquote></p><p>7)&nbsp;PVH(PVH) – The apparel company lost 38 cents per share for its latest quarter, 4 cents a share more than analysts were anticipating. Revenue came in slightly below estimates as well. PVH said it does expect to return to profit this fiscal year, but its projections are shy of analyst estimates and its shares fell 1.1% in premarket action.</p><p><blockquote>7)PVH(PVH)——这家服装公司最近一个季度每股亏损38美分，比分析师预期高出4美分。收入也略低于预期。PVH表示，预计本财年将恢复盈利，但其预测低于分析师预期，其股价在盘前下跌1.1%。</blockquote></p><p>8)&nbsp;Cleveland-Cliffs(CLF) – The steel producer’s shares surged 6.8% premarket after it announced preliminary results for the quarter that ends today. The projected earnings for the quarter and the full year are well above current Wall Street projections.</p><p><blockquote>8)克利夫兰克利夫斯(CLF)——这家钢铁生产商公布截至今天的季度初步业绩后，其股价盘前飙升6.8%。该季度和全年的预计收益远高于华尔街目前的预测。</blockquote></p><p>9)&nbsp;Harley-Davidson(HOG) – The motorcycle maker’s shares gained 2.9% in premarket trading after Baird upgraded the stock to “outperform” from “neutral.” Baird noted that it was the first time since 2016 that it had rated the stock “outperform,” saying the company’s change in strategic direction and lean inventories were among the positive factors behind the upgrade.</p><p><blockquote>9)哈雷戴维森(HOG)——贝尔德将该股评级从“中性”上调至“跑赢大盘”后，这家摩托车制造商的股价在盘前交易中上涨2.9%。贝尔德指出，这是自2016年以来首次将该股评级为“跑赢大盘”，并表示该公司战略方向的变化和精益库存是此次上调背后的积极因素之一。</blockquote></p><p>10)&nbsp;Apple(AAPL) – UBS upgraded Apple to “buy” from “neutral,” saying it expected more stable long-term iPhone demand and stronger average sales prices. Apple rose 1.6% in the premarket.</p><p><blockquote>10)苹果(AAPL)-瑞银将苹果评级从“中性”上调至“买入”，称预计iPhone长期需求将更加稳定，平均销售价格将更加强劲。苹果盘前上涨1.6%。</blockquote></p><p>11)&nbsp;Applied Materials(AMAT) – The semiconductor manufacturing equipment maker was rated “outperform” in new coverage at Bernstein, noting what it calls a long-term positive structural stance. Applied Materials rose 2.8% in premarket trading.</p><p><blockquote>11)应用材料公司(AMAT)——这家半导体制造设备制造商在Bernstein的新报道中被评为“跑赢大盘”，并指出其评级长期积极的结构性立场。应用材料公司在盘前交易中上涨2.8%。</blockquote></p><p><b>Big&nbsp;News</b></p><p><blockquote><b>大新闻</b></blockquote></p><p><b>1.&nbsp;Private payrolls rose by 517,000 in March, less than expected</b></p><p><blockquote><b>1.3月私人就业人数增加51.7万人，不及预期</b></blockquote></p><p></p><p><ul><li>Private payrolls rose by 517,000 in March, the fastest pace since September 2020, according to ADP.</li><li>The total was just below the Dow Jones estimate of 525,000 but well above February’s 176,000.</li><li>Hospitality led the way, with the battered sector adding 169,000 new workers.</li></ul><b>2. Biden set to unveil his $2 trillion infrastructure plan</b></p><p><blockquote><ul><li>ADP的数据显示，3月份私人就业人数增加了51.7万人，为2020年9月以来的最快增速。</li><li>总数略低于道琼斯估计的525,000人，但远高于2月份的176,000人。</li><li>酒店业处于领先地位，遭受重创的行业增加了169,000名新员工。</li></ul><b>2.拜登将公布其2万亿美元基础设施计划</b></blockquote></p><p>PresidentJoe Bidenwill unveil a more than $2 trillion infrastructure and economic recovery package Wednesday. The plan aims to revitalize U.S. transportation infrastructure, water systems, broadband and manufacturing, among other goals. An increase in the corporate tax rate to 28% and measures designed to prevent the offshoring of profits will fund the spending,according to the White House. Biden hopes the package will create manufacturing jobs and rescue failing American infrastructure as the country tries to emerge from the shadow of Covid.</p><p><blockquote>总统乔·拜登将于周三公布超过2万亿美元的基础设施和经济复苏计划。该计划旨在振兴美国交通基础设施、供水系统、宽带和制造业等目标。白宫表示，将企业税率提高至28%以及旨在防止利润离岸的措施将为支出提供资金。拜登希望该计划能够创造制造业就业机会，并在美国试图走出新冠疫情的阴影时拯救失败的美国基础设施。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a82005fdd5a20870413111b3adc1a547","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165057178","content_text":"U.S. Futures Mixed, Nasdaq future rally;Private payrolls rose by 517,000 in March, vs 525,000 estimate, ADP says.Chewy, BlackBerry, BioNTech & more making the biggest moves in the premarket.(March 31) S&P 500 futures were flat on Wednesday, as investors awaited details of how President Joe Biden would fund a massive infrastructure plan, while Wall Street headed for its fourth straight quarterly gain on signs of a strong economic rebound.At 8:01 a.m. ET, Dow E-minis were down 26 points, or 0.08%, S&P 500 E-minis were up 5 points, or 0.13% and Nasdaq 100 E-minis were rose 76.75 points, or 0.60%.*Source FromTiger Trade, EST 08:01Stocks making the biggest moves in the premarket: Chewy, BlackBerry, BioNTech & more:1) Chewy(CHWY) – The pet products seller earned a surprise profit of 5 cents per share, compared to expectations of a 10 cents per share loss. Revenue also beat estimates as net sales surged 47% from a year ago, as homebound consumers ordered more of their pet food and other pet products. Chewy shares surged 10.4% in premarket trading.2) BlackBerry(BB) – Shares of the communications software company fell 5.9% in premarket action following its quarterly results. BlackBerry matched estimates with adjusted quarterly earnings of 3 cents per share, but revenue fell short of forecasts amid slower demand for the company’s QNX care software.3) Pfizer(PFE) – The drugmaker said the Covid-19 vaccine made by Pfizer and German partnerBioNTech(BNTX)was 100% effective and well-tolerated in a trial of 12- to 15-year-olds. Given those results, Pfizer said it expects to ask regulators to approve the use of the shots for that age group. BioNTech shares rose 2.8% in premarket trading, while Pfizer was up 0.7%.4) Walgreens(WBA) – The drugstore operator reported quarterly earnings of $1.40 per share, beating the consensus estimate of $1.11 a share. The company also raised its full-year guidance. Walgreens said quarterly earnings were pressured in part by weaker sales of cold, cough and flu products. Shares of Walgreens rose 2.1% in the premarket.5) Lululemon(LULU) – The stock fell 1.8% in premarket action despitea beat on the top and bottom linesfor the athletic apparel and leisurewear company. Lululemon beat estimates by 9 cents a share, with quarterly earnings of $2.58 per share. Revenue came in above estimates as well. Brick and mortar comparable sales slumped 28% amid the pandemic, but that was offset by a surge in digital sales.6) Tilray(TLRY),Canopy Growth(CGC),Aphria(APHA),Aurora Cannabis(ACG) – Marijuana stocks are rising afterNew York State passed a billto become the 15th state to legalize recreational use, with Gov. Andrew Cuomo expected to sign it. Tilray rose 3.5% in the premarket, Canopy Growth gained 1%, Aphria climbed 3.9%, and Aurora Cannabis edged up 0.7%.7) PVH(PVH) – The apparel company lost 38 cents per share for its latest quarter, 4 cents a share more than analysts were anticipating. Revenue came in slightly below estimates as well. PVH said it does expect to return to profit this fiscal year, but its projections are shy of analyst estimates and its shares fell 1.1% in premarket action.8) Cleveland-Cliffs(CLF) – The steel producer’s shares surged 6.8% premarket after it announced preliminary results for the quarter that ends today. The projected earnings for the quarter and the full year are well above current Wall Street projections.9) Harley-Davidson(HOG) – The motorcycle maker’s shares gained 2.9% in premarket trading after Baird upgraded the stock to “outperform” from “neutral.” Baird noted that it was the first time since 2016 that it had rated the stock “outperform,” saying the company’s change in strategic direction and lean inventories were among the positive factors behind the upgrade.10) Apple(AAPL) – UBS upgraded Apple to “buy” from “neutral,” saying it expected more stable long-term iPhone demand and stronger average sales prices. Apple rose 1.6% in the premarket.11) Applied Materials(AMAT) – The semiconductor manufacturing equipment maker was rated “outperform” in new coverage at Bernstein, noting what it calls a long-term positive structural stance. Applied Materials rose 2.8% in premarket trading.Big News1. Private payrolls rose by 517,000 in March, less than expectedPrivate payrolls rose by 517,000 in March, the fastest pace since September 2020, according to ADP.The total was just below the Dow Jones estimate of 525,000 but well above February’s 176,000.Hospitality led the way, with the battered sector adding 169,000 new workers.2. Biden set to unveil his $2 trillion infrastructure planPresidentJoe Bidenwill unveil a more than $2 trillion infrastructure and economic recovery package Wednesday. The plan aims to revitalize U.S. transportation infrastructure, water systems, broadband and manufacturing, among other goals. An increase in the corporate tax rate to 28% and measures designed to prevent the offshoring of profits will fund the spending,according to the White House. Biden hopes the package will create manufacturing jobs and rescue failing American infrastructure as the country tries to emerge from the shadow of Covid.","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":372,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325204636,"gmtCreate":1615900142225,"gmtModify":1703494695221,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573373141883201","idStr":"3573373141883201"},"themes":[],"htmlText":"Agreed","listText":"Agreed","text":"Agreed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/325204636","repostId":"1199153511","repostType":4,"repost":{"id":"1199153511","kind":"news","pubTimestamp":1615898909,"share":"https://www.laohu8.com/m/news/1199153511?lang=zh_CN&edition=full","pubTime":"2021-03-16 20:48","market":"us","language":"en","title":"This Isn't Your Father's Overvalued Market<blockquote>这不是你父亲高估的市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199153511","media":"zerohedge","summary":"Many analysts contend that currentstock valuationsresemble the dot-com era. You can see it visually ","content":"<p>Many analysts contend that currentstock valuationsresemble the dot-com era. You can see it visually at CurrentMarketValuation.com. Some highlights...</p><p><blockquote>许多分析师认为，当前的股票估值类似于互联网时代。你可以在CurrentMarketValuation.com直观地看到它。一些亮点...</blockquote></p><p> The classic&nbsp;<b>“Buffett Indicator”</b>&nbsp;certainly seems to be in nosebleed territory. Notice that the valuations in 1966, the beginning of a long-term bear market, were also high.</p><p><blockquote>经典<b>“巴菲特指标”</b>看起来肯定是在流鼻血的领域。请注意，1966年（长期熊市的开始）的估值也很高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/84ead1c8048f2f837b1f849fee01d477\" tg-width=\"1200\" tg-height=\"592\" referrerpolicy=\"no-referrer\"><i>Source: CurrentMarketValuation.com</i></p><p><blockquote><i>资料来源：CurrentMarketValuation.com</i></blockquote></p><p> Then there is the ever-popular&nbsp;<b>price-to-earnings ratio</b>. Notice by this measure that valuations were not all that stretched in 1966. Yet there still followed a 17-year bear market, as measured from the peak back to where it started.</p><p><blockquote>然后是一直流行的<b>市盈率</b>请注意，根据这一衡量标准，1966年的估值并没有那么高。然而，从峰值到起点衡量，17年的熊市仍然接踵而至。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ad62168f364b6064cebd61dcdba23c5b\" tg-width=\"1200\" tg-height=\"596\"></p><p><blockquote></blockquote></p><p> <i>Source: CurrentMarketValuation.com</i></p><p><blockquote><i>资料来源：CurrentMarketValuation.com</i></blockquote></p><p> This next one is unusual:&nbsp;<b>valuation as measured by mean reversion</b>.&nbsp;Mean reversion&nbsp;is the fairly unsophisticated concept that \"what goes up must come down.\"</p><p><blockquote>下一个很不寻常：<b>按均值回归计量的估值</b>均值回归是一个相当简单的概念，即“上升的必然下降”。</blockquote></p><p> While the market’s day-to-day movements are chaotic, long-term stockmarket returnstend to follow somewhat predictable upward trends. But they can also deviate from the trend for years or even decades.</p><p><blockquote>虽然市场的日常走势很混乱，但股市的长期回报往往会遵循某种可预测的上升趋势。但它们也可能在数年甚至数十年内偏离趋势。</blockquote></p><p> This isn’t a trading strategy. But it's still a useful indicator of overall market valuation relative to the past.</p><p><blockquote>这不是交易策略。但相对于过去，它仍然是整体市场估值的有用指标。</blockquote></p><p> <b>What's Different Now</b></p><p><blockquote><b>现在有什么不同</b></blockquote></p><p> This is not your father’s or your grandfather’s (if he was alive in 1929) overvalued market.</p><p><blockquote>这不是你父亲或你祖父（如果他在1929年还活着）的高估市场。</blockquote></p><p> There are two major differences…</p><p><blockquote>有两个主要区别……</blockquote></p><p> First, in the dot-com era, the Federal Reserve had let loose the dogs of easymonetary policygoing into the Y2K event. That was appropriate given the uncertainty, but it clearly helped send already overvalued markets to extremes.</p><p><blockquote>首先，在互联网时代，美联储在千年虫事件中放松了宽松货币政策。考虑到不确定性，这是适当的，但它显然有助于将已经被高估的市场推向极端。</blockquote></p><p> We had day traders piling into anything that looked like an internet stock, speculations, really easy money, and so forth. Then after January 1 passed uneventfully, Greenspan appropriately reversed the Fed’s monetary policy. Oops.</p><p><blockquote>我们有日内交易者涌入任何看起来像互联网股票、投机、真正轻松赚钱等等的东西。然后在1月1日平安无事地过去后，格林斯潘适当地扭转了美联储的货币政策。哎呀。</blockquote></p><p> And now we have enormous federal government stimulus, soon to be about 25% of GDP in less than a year. That money ends up somewhere, but&nbsp;its impact is still unclear. There is no historical parallel to consider.</p><p><blockquote>现在我们有了巨大的联邦政府刺激，在不到一年的时间里将达到GDP的25%左右。这笔钱最终会到达某个地方，但其影响仍不清楚。没有历史相似之处需要考虑。</blockquote></p><p> <b>Overvalued Market... But Perhaps Not Overpriced</b></p><p><blockquote><b>高估的市场...但也许价格并不高</b></blockquote></p><p> Jerome Powell is not Alan Greenspan.</p><p><blockquote>杰罗姆·鲍威尔不是艾伦·格林斯潘。</blockquote></p><p> Powell and his colleagues have made it very clear they will keep monetary policy loose and rates low for a very long time.Inflationis well down their worry list. Their top concern is unemployment,&nbsp;which is indeed a real problem.</p><p><blockquote>鲍威尔和他的同事已经明确表示，他们将在很长一段时间内保持宽松的货币政策和低利率。通货膨胀在他们的担忧清单上名列前茅。他们最关心的是失业，这确实是一个现实问题。</blockquote></p><p> The Fed is telling us it will let inflation get to 3% or more. They are looking at the average inflation over time, which means they can justify doing anything they want.</p><p><blockquote>美联储告诉我们，它将让通胀率达到3%或更高。他们正在关注一段时间内的平均通货膨胀率，这意味着他们可以证明做任何他们想做的事情是合理的。</blockquote></p><p> What they want is lowrates, even if it overheats the economy, until unemployment returns to where it was before the pandemic.</p><p><blockquote>他们想要的是降低利率，即使这会使经济过热，直到失业率回到大流行之前的水平。</blockquote></p><p> If they really mean that, then we are going to have low rates for a very long time, as unemployment is a bigger problem than most people think.</p><p><blockquote>如果他们真的是这个意思，那么我们将在很长一段时间内保持低利率，因为失业是一个比大多数人想象的更大的问题。</blockquote></p><p> It also means, maybe not coincidentally, the US Treasury will find it easier to refinance an&nbsp;ever-increasing federal deficit.</p><p><blockquote>这也意味着，也许并非巧合的是，美国财政部将发现为不断增加的联邦赤字再融资变得更加容易。</blockquote></p><p> But persistent low rates might mean stock market valuations are actually in the fair value range.</p><p><blockquote>但持续的低利率可能意味着股市估值实际上处于公允价值范围内。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef10f8c196ce434aeffb1b04642aa49\" tg-width=\"1200\" tg-height=\"596\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Look at this chart showing S&amp;P 500 value relative to interest rates. Interest rates are 1.6 standard deviations below the trendline.</p><p><blockquote>看看这张显示标普500价值相对于利率的图表。利率比趋势线低1.6个标准差。</blockquote></p><p> That suggests that the S&amp;P 500 may not be so overpriced.</p><p><blockquote>这表明标普500的价格可能并没有那么高。</blockquote></p><p> While valuations tell us nothing about short-term market moves, they are actually pretty good at longer-term returns.</p><p><blockquote>虽然估值没有告诉我们任何关于短期市场走势的信息，但它们实际上在长期回报方面非常出色。</blockquote></p><p> That being said, some smart people I follow see pockets of undervaluation (at least relative to the US) in more than a few places. If you're looking forvalue, you might want to start there.</p><p><blockquote>话虽如此，我关注的一些聪明人在很多地方都看到了低估（至少相对于美国）。如果你在寻找价值，你可能想从那里开始。</blockquote></p><p> <b>The Great Reset: The Collapse of the Biggest Bubble in History</b></p><p><blockquote><b>大重置：历史上最大泡沫的崩溃</b></blockquote></p><p> <i>New York Times</i>&nbsp;best seller and renowned financial expert John Mauldin predicts an unprecedented financial crisis that could be triggered in the next five years. Most investors seem completely unaware of the relentless pressure that’s building right now.&nbsp;</p><p><blockquote><i>纽约时报</i>畅销书、著名金融专家约翰·莫尔丁预测，未来五年可能会引发一场前所未有的金融危机。大多数投资者似乎完全没有意识到目前正在积聚的无情压力。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Isn't Your Father's Overvalued Market<blockquote>这不是你父亲高估的市场</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\">\nThis Isn't Your Father's Overvalued Market<blockquote>这不是你父亲高估的市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-03-16 20:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Many analysts contend that currentstock valuationsresemble the dot-com era. You can see it visually at CurrentMarketValuation.com. Some highlights...</p><p><blockquote>许多分析师认为，当前的股票估值类似于互联网时代。你可以在CurrentMarketValuation.com直观地看到它。一些亮点...</blockquote></p><p> The classic&nbsp;<b>“Buffett Indicator”</b>&nbsp;certainly seems to be in nosebleed territory. Notice that the valuations in 1966, the beginning of a long-term bear market, were also high.</p><p><blockquote>经典<b>“巴菲特指标”</b>看起来肯定是在流鼻血的领域。请注意，1966年（长期熊市的开始）的估值也很高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/84ead1c8048f2f837b1f849fee01d477\" tg-width=\"1200\" tg-height=\"592\" referrerpolicy=\"no-referrer\"><i>Source: CurrentMarketValuation.com</i></p><p><blockquote><i>资料来源：CurrentMarketValuation.com</i></blockquote></p><p> Then there is the ever-popular&nbsp;<b>price-to-earnings ratio</b>. Notice by this measure that valuations were not all that stretched in 1966. Yet there still followed a 17-year bear market, as measured from the peak back to where it started.</p><p><blockquote>然后是一直流行的<b>市盈率</b>请注意，根据这一衡量标准，1966年的估值并没有那么高。然而，从峰值到起点衡量，17年的熊市仍然接踵而至。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ad62168f364b6064cebd61dcdba23c5b\" tg-width=\"1200\" tg-height=\"596\"></p><p><blockquote></blockquote></p><p> <i>Source: CurrentMarketValuation.com</i></p><p><blockquote><i>资料来源：CurrentMarketValuation.com</i></blockquote></p><p> This next one is unusual:&nbsp;<b>valuation as measured by mean reversion</b>.&nbsp;Mean reversion&nbsp;is the fairly unsophisticated concept that \"what goes up must come down.\"</p><p><blockquote>下一个很不寻常：<b>按均值回归计量的估值</b>均值回归是一个相当简单的概念，即“上升的必然下降”。</blockquote></p><p> While the market’s day-to-day movements are chaotic, long-term stockmarket returnstend to follow somewhat predictable upward trends. But they can also deviate from the trend for years or even decades.</p><p><blockquote>虽然市场的日常走势很混乱，但股市的长期回报往往会遵循某种可预测的上升趋势。但它们也可能在数年甚至数十年内偏离趋势。</blockquote></p><p> This isn’t a trading strategy. But it's still a useful indicator of overall market valuation relative to the past.</p><p><blockquote>这不是交易策略。但相对于过去，它仍然是整体市场估值的有用指标。</blockquote></p><p> <b>What's Different Now</b></p><p><blockquote><b>现在有什么不同</b></blockquote></p><p> This is not your father’s or your grandfather’s (if he was alive in 1929) overvalued market.</p><p><blockquote>这不是你父亲或你祖父（如果他在1929年还活着）的高估市场。</blockquote></p><p> There are two major differences…</p><p><blockquote>有两个主要区别……</blockquote></p><p> First, in the dot-com era, the Federal Reserve had let loose the dogs of easymonetary policygoing into the Y2K event. That was appropriate given the uncertainty, but it clearly helped send already overvalued markets to extremes.</p><p><blockquote>首先，在互联网时代，美联储在千年虫事件中放松了宽松货币政策。考虑到不确定性，这是适当的，但它显然有助于将已经被高估的市场推向极端。</blockquote></p><p> We had day traders piling into anything that looked like an internet stock, speculations, really easy money, and so forth. Then after January 1 passed uneventfully, Greenspan appropriately reversed the Fed’s monetary policy. Oops.</p><p><blockquote>我们有日内交易者涌入任何看起来像互联网股票、投机、真正轻松赚钱等等的东西。然后在1月1日平安无事地过去后，格林斯潘适当地扭转了美联储的货币政策。哎呀。</blockquote></p><p> And now we have enormous federal government stimulus, soon to be about 25% of GDP in less than a year. That money ends up somewhere, but&nbsp;its impact is still unclear. There is no historical parallel to consider.</p><p><blockquote>现在我们有了巨大的联邦政府刺激，在不到一年的时间里将达到GDP的25%左右。这笔钱最终会到达某个地方，但其影响仍不清楚。没有历史相似之处需要考虑。</blockquote></p><p> <b>Overvalued Market... But Perhaps Not Overpriced</b></p><p><blockquote><b>高估的市场...但也许价格并不高</b></blockquote></p><p> Jerome Powell is not Alan Greenspan.</p><p><blockquote>杰罗姆·鲍威尔不是艾伦·格林斯潘。</blockquote></p><p> Powell and his colleagues have made it very clear they will keep monetary policy loose and rates low for a very long time.Inflationis well down their worry list. Their top concern is unemployment,&nbsp;which is indeed a real problem.</p><p><blockquote>鲍威尔和他的同事已经明确表示，他们将在很长一段时间内保持宽松的货币政策和低利率。通货膨胀在他们的担忧清单上名列前茅。他们最关心的是失业，这确实是一个现实问题。</blockquote></p><p> The Fed is telling us it will let inflation get to 3% or more. They are looking at the average inflation over time, which means they can justify doing anything they want.</p><p><blockquote>美联储告诉我们，它将让通胀率达到3%或更高。他们正在关注一段时间内的平均通货膨胀率，这意味着他们可以证明做任何他们想做的事情是合理的。</blockquote></p><p> What they want is lowrates, even if it overheats the economy, until unemployment returns to where it was before the pandemic.</p><p><blockquote>他们想要的是降低利率，即使这会使经济过热，直到失业率回到大流行之前的水平。</blockquote></p><p> If they really mean that, then we are going to have low rates for a very long time, as unemployment is a bigger problem than most people think.</p><p><blockquote>如果他们真的是这个意思，那么我们将在很长一段时间内保持低利率，因为失业是一个比大多数人想象的更大的问题。</blockquote></p><p> It also means, maybe not coincidentally, the US Treasury will find it easier to refinance an&nbsp;ever-increasing federal deficit.</p><p><blockquote>这也意味着，也许并非巧合的是，美国财政部将发现为不断增加的联邦赤字再融资变得更加容易。</blockquote></p><p> But persistent low rates might mean stock market valuations are actually in the fair value range.</p><p><blockquote>但持续的低利率可能意味着股市估值实际上处于公允价值范围内。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef10f8c196ce434aeffb1b04642aa49\" tg-width=\"1200\" tg-height=\"596\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Look at this chart showing S&amp;P 500 value relative to interest rates. Interest rates are 1.6 standard deviations below the trendline.</p><p><blockquote>看看这张显示标普500价值相对于利率的图表。利率比趋势线低1.6个标准差。</blockquote></p><p> That suggests that the S&amp;P 500 may not be so overpriced.</p><p><blockquote>这表明标普500的价格可能并没有那么高。</blockquote></p><p> While valuations tell us nothing about short-term market moves, they are actually pretty good at longer-term returns.</p><p><blockquote>虽然估值没有告诉我们任何关于短期市场走势的信息，但它们实际上在长期回报方面非常出色。</blockquote></p><p> That being said, some smart people I follow see pockets of undervaluation (at least relative to the US) in more than a few places. If you're looking forvalue, you might want to start there.</p><p><blockquote>话虽如此，我关注的一些聪明人在很多地方都看到了低估（至少相对于美国）。如果你在寻找价值，你可能想从那里开始。</blockquote></p><p> <b>The Great Reset: The Collapse of the Biggest Bubble in History</b></p><p><blockquote><b>大重置：历史上最大泡沫的崩溃</b></blockquote></p><p> <i>New York Times</i>&nbsp;best seller and renowned financial expert John Mauldin predicts an unprecedented financial crisis that could be triggered in the next five years. Most investors seem completely unaware of the relentless pressure that’s building right now.&nbsp;</p><p><blockquote><i>纽约时报</i>畅销书、著名金融专家约翰·莫尔丁预测，未来五年可能会引发一场前所未有的金融危机。大多数投资者似乎完全没有意识到目前正在积聚的无情压力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/news/2021-03-15/isnt-your-fathers-overvalued-market\">zerohedge</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.zerohedge.com/news/2021-03-15/isnt-your-fathers-overvalued-market","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199153511","content_text":"Many analysts contend that currentstock valuationsresemble the dot-com era. You can see it visually at CurrentMarketValuation.com. Some highlights...\nThe classic “Buffett Indicator” certainly seems to be in nosebleed territory. Notice that the valuations in 1966, the beginning of a long-term bear market, were also high.\nSource: CurrentMarketValuation.com\nThen there is the ever-popular price-to-earnings ratio. Notice by this measure that valuations were not all that stretched in 1966. Yet there still followed a 17-year bear market, as measured from the peak back to where it started.\n\nSource: CurrentMarketValuation.com\nThis next one is unusual: valuation as measured by mean reversion. Mean reversion is the fairly unsophisticated concept that \"what goes up must come down.\"\nWhile the market’s day-to-day movements are chaotic, long-term stockmarket returnstend to follow somewhat predictable upward trends. But they can also deviate from the trend for years or even decades.\nThis isn’t a trading strategy. But it's still a useful indicator of overall market valuation relative to the past.\nWhat's Different Now\nThis is not your father’s or your grandfather’s (if he was alive in 1929) overvalued market.\nThere are two major differences…\nFirst, in the dot-com era, the Federal Reserve had let loose the dogs of easymonetary policygoing into the Y2K event. That was appropriate given the uncertainty, but it clearly helped send already overvalued markets to extremes.\nWe had day traders piling into anything that looked like an internet stock, speculations, really easy money, and so forth. Then after January 1 passed uneventfully, Greenspan appropriately reversed the Fed’s monetary policy. Oops.\nAnd now we have enormous federal government stimulus, soon to be about 25% of GDP in less than a year. That money ends up somewhere, but its impact is still unclear. There is no historical parallel to consider.\nOvervalued Market... But Perhaps Not Overpriced\nJerome Powell is not Alan Greenspan.\nPowell and his colleagues have made it very clear they will keep monetary policy loose and rates low for a very long time.Inflationis well down their worry list. Their top concern is unemployment, which is indeed a real problem.\nThe Fed is telling us it will let inflation get to 3% or more. They are looking at the average inflation over time, which means they can justify doing anything they want.\nWhat they want is lowrates, even if it overheats the economy, until unemployment returns to where it was before the pandemic.\nIf they really mean that, then we are going to have low rates for a very long time, as unemployment is a bigger problem than most people think.\nIt also means, maybe not coincidentally, the US Treasury will find it easier to refinance an ever-increasing federal deficit.\nBut persistent low rates might mean stock market valuations are actually in the fair value range.\n\nLook at this chart showing S&P 500 value relative to interest rates. Interest rates are 1.6 standard deviations below the trendline.\nThat suggests that the S&P 500 may not be so overpriced.\nWhile valuations tell us nothing about short-term market moves, they are actually pretty good at longer-term returns.\nThat being said, some smart people I follow see pockets of undervaluation (at least relative to the US) in more than a few places. If you're looking forvalue, you might want to start there.\nThe Great Reset: The Collapse of the Biggest Bubble in History\nNew York Times best seller and renowned financial expert John Mauldin predicts an unprecedented financial crisis that could be triggered in the next five years. Most investors seem completely unaware of the relentless pressure that’s building right now.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":495,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":195309320,"gmtCreate":1621254781460,"gmtModify":1634193025952,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/195309320","repostId":"2135984810","repostType":4,"isVote":1,"tweetType":1,"viewCount":1217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139162752,"gmtCreate":1621601779276,"gmtModify":1634187745685,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Comment n like","listText":"Comment n like","text":"Comment n like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/139162752","repostId":"1197544614","repostType":4,"repost":{"id":"1197544614","kind":"news","pubTimestamp":1621600946,"share":"https://www.laohu8.com/m/news/1197544614?lang=zh_CN&edition=full","pubTime":"2021-05-21 20:42","market":"us","language":"en","title":"Apple Stock: How Long Should You Hold It?<blockquote>苹果股票：你应该持有多久？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197544614","media":"TheStreet","summary":"For best performance, how long should Apple stock be held in a portfolio? The Apple Maven discusses ","content":"<p>For best performance, how long should Apple stock be held in a portfolio? The Apple Maven discusses what traders, speculators and investors should expect when betting on AAPL.</p><p><blockquote>为了获得最佳表现，苹果股票应该在投资组合中持有多长时间？这位苹果专家讨论了交易员、投机者和投资者在押注AAPL时应该期待什么。</blockquote></p><p> The&nbsp;Street’s&nbsp;Jim Cramer has said it repeatedly: own Apple stock (ticker $AAPL), don’t trade it. Today, the Apple Maven revisits this idea to help determine how long one should hold Apple shares.</p><p><blockquote>华尔街的吉姆·克莱默(Jim Cramer)多次表示：拥有苹果股票（股票代码$AAPL），不要交易它。今天，这位苹果专家重新审视了这个想法，以帮助确定应该持有苹果股票多长时间。</blockquote></p><p> Below is an analysis of how much one might expect to gain if (1) day-trading, (2) speculating on, or (3) investing in Apple stock. Obviously, since the future is uncertain, the analysis is based on historical data – which I believe can at least provide a blueprint for future share price performance.</p><p><blockquote>以下是对(1)日内交易、(2)投机或(3)投资苹果股票的预期收益的分析。显然，由于未来不确定，分析基于历史数据——我相信这至少可以为未来股价表现提供蓝图。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6726ed885cefb1c7f81fe0ac2f6eff7c\" tg-width=\"799\" tg-height=\"466\"><span>Figure 1: AAPL trading chart.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：AAPL交易图表。</span></p></blockquote></p><p> <b>#1. AAPL investors: long-term winners</b></p><p><blockquote><b>#1.AAPL投资者：长期赢家</b></blockquote></p><p> As I mentioned&nbsp;in my recent “Apple Stock 101” article, investors that bought Apple shares in December 1980 (i.e. the IPO date) and held onto them until now realized impressive annualized gains of&nbsp;<b>19%</b>. Clearly, AAPL has been a good asset to “get and forget” over Apple’s tenure as a publicly-traded company.</p><p><blockquote>正如我在最近的“苹果股票101”文章中提到的，在1980年12月（即IPO日期）购买苹果股票并持有至今的投资者实现了令人印象深刻的年化收益<b>19%</b>显然，在苹果担任上市公司期间，AAPL一直是一笔值得“忘记”的好资产。</blockquote></p><p> But allow me to work with more realistic time frames. For this exercise, I will consider “investors” those who hold AAPL for one year. To be clear, many might consider twelve months a minimum investment horizon to qualify as long term.</p><p><blockquote>但是请允许我用更现实的时间框架来工作。在这个练习中，我将把持有AAPL一年的人视为“投资者”。需要明确的是，许多人可能认为12个月是符合长期投资资格的最低投资期限。</blockquote></p><p> Also, I am limiting my analysis to the past 20 years, since the stock used to be much riskier and more volatile in its first couple of decades of existence than it is now. Apple stock’s returns have been even better during this period that begins with the end of the dot-com correction:<b>35%</b>&nbsp;annualized.</p><p><blockquote>此外，我将我的分析限制在过去20年，因为该股票在其存在的头几十年里的风险和波动性都比现在高得多。在从互联网调整结束开始的这段时间里，苹果股票的回报甚至更好：<b>35%</b>年化。</blockquote></p><p> The chart below shows the distribution of&nbsp;<i>weekly returns</i>&nbsp;earned by an Apple stock investor, using the parameters described above, if the bet had been made on any give day since May 2001.</p><p><blockquote>下图显示了<i>每周回报</i>如果自2001年5月以来的任何一天下注，则由苹果股票投资者使用上述参数赚取。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d658a73af3c004123aa9e0d29906ebe7\" tg-width=\"703\" tg-height=\"418\"><span>Figure 2: AAPL investor's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：AAPL投资者的每周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: if held for one year, and based on historical observations alone (i.e. not on modeled projections for the future), Apple stock can arguably be expected to produce weekly returns of about +0.5% to +1.0%. Rarely has the stock been a big-time winner or loser – say, weekly returns of more than +2% or less than -1% on average – when the investment horizon is one year.</li> </ul> <b>#2. AAPL speculators: higher octane</b></p><p><blockquote><ul><li><b>关键观察</b>：如果持有一年，并且仅基于历史观察（即不是基于对未来的模型预测），苹果股票可以预期产生约+0.5%至+1.0%的周回报率。当投资期限为一年时，该股票很少成为大赢家或大输家（例如，平均每周回报率超过+2%或低于-1%）。</li></ul><b>#2.AAPL投机者：辛烷值更高</b></blockquote></p><p> Speculators have had a bit different experience from the above. Here, I characterize as “speculator” someone who buys AAPL and sells it ten weeks later, or roughly two and a half months after the purchase date.</p><p><blockquote>投机者的经历与上述略有不同。在这里，我将买入AAPL并在十周后（即购买日期后大约两个半月）卖出的人描述为“投机者”。</blockquote></p><p> See histogram below. For ease of comparison with the weekly return analysis immediately above, I kept the chart’s scale unchanged.</p><p><blockquote>参见下面的直方图。为了便于与上面的每周回报分析进行比较，我保持图表的比例不变。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/209f65d605439ca2f039619f15f5fc68\" tg-width=\"690\" tg-height=\"404\"><span>Figure 3: AAPL speculator's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：AAPL投机者的周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: the distribution above is still somewhat bell-shaped, meaning that a weekly return of between +0.5% and +1.0% is still quite common. However, notice the much “fatter tails”. The probability of larger weekly gains or losses tends to increase when Apple stock is held for ten weeks rather than one year.</li> </ul> <b>#3. AAPL day-traders: buckle up!</b></p><p><blockquote><ul><li><b>关键观察</b>：上面的分布仍然有点钟形，这意味着+0.5%到+1.0%之间的周回报率仍然很常见。然而，请注意“更胖的尾巴”。当苹果股票持有十周而不是一年时，每周收益或损失较大的概率往往会增加。</li></ul><b>#3.AAPL日内交易者：系好安全带！</b></blockquote></p><p> Lastly, day-traders that buy Apple stock and sell it within less than a full week have been playing a completely different game. Once again, the histogram below depicts the average<i>weekly return</i>in AAPL when the timeframe is compressed to no more than 7 days. The chart scale, again, remains unchanged for ease of comparison.</p><p><blockquote>最后，买入苹果股票并在不到一周的时间内卖出的日内交易者一直在玩一种完全不同的游戏。同样，下面的直方图描述了平均值<i>每周回报</i>在AAPL，当时间范围被压缩到不超过7天时。为了便于比较，图表比例保持不变。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f77febcce32d4bcc45cf275cc5936671\" tg-width=\"657\" tg-height=\"395\"><span>Figure 4: AAPL day traders's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图4：AAPL日内交易者的周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: when buying and selling AAPL in a matter of days, it is most common for the bets to result in much more sizable weekly gains or losses: less than -2.0% or more than +2.0%. Earning long-term average gains of about +0.5% to +1.0%, in these cases, has been a rarity.</li> </ul> <b>What to make of it all</b></p><p><blockquote><ul><li><b>关键观察</b>：当在几天内买卖AAPL时，最常见的情况是赌注会导致更大的每周收益或损失：小于-2.0%或大于+2.0%。在这些情况下，获得约+0.5%至+1.0%的长期平均收益是罕见的。</li></ul><b>如何理解这一切</b></blockquote></p><p> Back to the original question: how long should Apple stock be held? Based on historical analysis, the answer really depends on personal goals. Here is the roadmap:</p><p><blockquote>回到最初的问题：苹果股票应该持有多久？基于历史分析，答案确实取决于个人目标。以下是路线图：</blockquote></p><p></p><p> <ul>  <li>If merely seeking long-term capital appreciation that might be market-beating, but probably not by a very wide margin, buying AAPL and holding it for a year or more is highly advisable. Speculative bets of a few weeks here and there (say, selling into strength and buying into weakness based on price action) could help to boost returns, if the trades are well executed.</li>  <li>If seeking outsized gains, trading AAPL within days would be the best approach. However, this strategy is also the riskiest, as it could lead to outsized losses instead. I believe that day-trading Apple stock is the least advisable approach to most people, but possibly an interesting proposition for a select few.</li> </ul></p><p><blockquote><ul><li>如果只是寻求可能跑赢市场的长期资本增值，但幅度可能不会很大，那么购买AAPL并持有一年或更长时间是非常明智的。如果交易执行良好，在这里或那里进行几周的投机性押注（例如，根据价格走势在强势时卖出，在弱势时买入）可能有助于提高回报。</li><li>如果寻求巨额收益，在几天内交易AAPL将是最好的方法。然而，这种策略也是风险最大的，因为它可能会导致巨大的损失。我相信日内交易苹果股票对大多数人来说是最不可取的方法，但对少数人来说可能是一个有趣的提议。</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>Apple Stock: How Long Should You Hold It?<blockquote>苹果股票：你应该持有多久？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock: How Long Should You Hold It?<blockquote>苹果股票：你应该持有多久？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-05-21 20:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>For best performance, how long should Apple stock be held in a portfolio? The Apple Maven discusses what traders, speculators and investors should expect when betting on AAPL.</p><p><blockquote>为了获得最佳表现，苹果股票应该在投资组合中持有多长时间？这位苹果专家讨论了交易员、投机者和投资者在押注AAPL时应该期待什么。</blockquote></p><p> The&nbsp;Street’s&nbsp;Jim Cramer has said it repeatedly: own Apple stock (ticker $AAPL), don’t trade it. Today, the Apple Maven revisits this idea to help determine how long one should hold Apple shares.</p><p><blockquote>华尔街的吉姆·克莱默(Jim Cramer)多次表示：拥有苹果股票（股票代码$AAPL），不要交易它。今天，这位苹果专家重新审视了这个想法，以帮助确定应该持有苹果股票多长时间。</blockquote></p><p> Below is an analysis of how much one might expect to gain if (1) day-trading, (2) speculating on, or (3) investing in Apple stock. Obviously, since the future is uncertain, the analysis is based on historical data – which I believe can at least provide a blueprint for future share price performance.</p><p><blockquote>以下是对(1)日内交易、(2)投机或(3)投资苹果股票的预期收益的分析。显然，由于未来不确定，分析基于历史数据——我相信这至少可以为未来股价表现提供蓝图。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6726ed885cefb1c7f81fe0ac2f6eff7c\" tg-width=\"799\" tg-height=\"466\"><span>Figure 1: AAPL trading chart.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：AAPL交易图表。</span></p></blockquote></p><p> <b>#1. AAPL investors: long-term winners</b></p><p><blockquote><b>#1.AAPL投资者：长期赢家</b></blockquote></p><p> As I mentioned&nbsp;in my recent “Apple Stock 101” article, investors that bought Apple shares in December 1980 (i.e. the IPO date) and held onto them until now realized impressive annualized gains of&nbsp;<b>19%</b>. Clearly, AAPL has been a good asset to “get and forget” over Apple’s tenure as a publicly-traded company.</p><p><blockquote>正如我在最近的“苹果股票101”文章中提到的，在1980年12月（即IPO日期）购买苹果股票并持有至今的投资者实现了令人印象深刻的年化收益<b>19%</b>显然，在苹果担任上市公司期间，AAPL一直是一笔值得“忘记”的好资产。</blockquote></p><p> But allow me to work with more realistic time frames. For this exercise, I will consider “investors” those who hold AAPL for one year. To be clear, many might consider twelve months a minimum investment horizon to qualify as long term.</p><p><blockquote>但是请允许我用更现实的时间框架来工作。在这个练习中，我将把持有AAPL一年的人视为“投资者”。需要明确的是，许多人可能认为12个月是符合长期投资资格的最低投资期限。</blockquote></p><p> Also, I am limiting my analysis to the past 20 years, since the stock used to be much riskier and more volatile in its first couple of decades of existence than it is now. Apple stock’s returns have been even better during this period that begins with the end of the dot-com correction:<b>35%</b>&nbsp;annualized.</p><p><blockquote>此外，我将我的分析限制在过去20年，因为该股票在其存在的头几十年里的风险和波动性都比现在高得多。在从互联网调整结束开始的这段时间里，苹果股票的回报甚至更好：<b>35%</b>年化。</blockquote></p><p> The chart below shows the distribution of&nbsp;<i>weekly returns</i>&nbsp;earned by an Apple stock investor, using the parameters described above, if the bet had been made on any give day since May 2001.</p><p><blockquote>下图显示了<i>每周回报</i>如果自2001年5月以来的任何一天下注，则由苹果股票投资者使用上述参数赚取。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d658a73af3c004123aa9e0d29906ebe7\" tg-width=\"703\" tg-height=\"418\"><span>Figure 2: AAPL investor's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：AAPL投资者的每周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: if held for one year, and based on historical observations alone (i.e. not on modeled projections for the future), Apple stock can arguably be expected to produce weekly returns of about +0.5% to +1.0%. Rarely has the stock been a big-time winner or loser – say, weekly returns of more than +2% or less than -1% on average – when the investment horizon is one year.</li> </ul> <b>#2. AAPL speculators: higher octane</b></p><p><blockquote><ul><li><b>关键观察</b>：如果持有一年，并且仅基于历史观察（即不是基于对未来的模型预测），苹果股票可以预期产生约+0.5%至+1.0%的周回报率。当投资期限为一年时，该股票很少成为大赢家或大输家（例如，平均每周回报率超过+2%或低于-1%）。</li></ul><b>#2.AAPL投机者：辛烷值更高</b></blockquote></p><p> Speculators have had a bit different experience from the above. Here, I characterize as “speculator” someone who buys AAPL and sells it ten weeks later, or roughly two and a half months after the purchase date.</p><p><blockquote>投机者的经历与上述略有不同。在这里，我将买入AAPL并在十周后（即购买日期后大约两个半月）卖出的人描述为“投机者”。</blockquote></p><p> See histogram below. For ease of comparison with the weekly return analysis immediately above, I kept the chart’s scale unchanged.</p><p><blockquote>参见下面的直方图。为了便于与上面的每周回报分析进行比较，我保持图表的比例不变。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/209f65d605439ca2f039619f15f5fc68\" tg-width=\"690\" tg-height=\"404\"><span>Figure 3: AAPL speculator's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：AAPL投机者的周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: the distribution above is still somewhat bell-shaped, meaning that a weekly return of between +0.5% and +1.0% is still quite common. However, notice the much “fatter tails”. The probability of larger weekly gains or losses tends to increase when Apple stock is held for ten weeks rather than one year.</li> </ul> <b>#3. AAPL day-traders: buckle up!</b></p><p><blockquote><ul><li><b>关键观察</b>：上面的分布仍然有点钟形，这意味着+0.5%到+1.0%之间的周回报率仍然很常见。然而，请注意“更胖的尾巴”。当苹果股票持有十周而不是一年时，每周收益或损失较大的概率往往会增加。</li></ul><b>#3.AAPL日内交易者：系好安全带！</b></blockquote></p><p> Lastly, day-traders that buy Apple stock and sell it within less than a full week have been playing a completely different game. Once again, the histogram below depicts the average<i>weekly return</i>in AAPL when the timeframe is compressed to no more than 7 days. The chart scale, again, remains unchanged for ease of comparison.</p><p><blockquote>最后，买入苹果股票并在不到一周的时间内卖出的日内交易者一直在玩一种完全不同的游戏。同样，下面的直方图描述了平均值<i>每周回报</i>在AAPL，当时间范围被压缩到不超过7天时。为了便于比较，图表比例保持不变。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f77febcce32d4bcc45cf275cc5936671\" tg-width=\"657\" tg-height=\"395\"><span>Figure 4: AAPL day traders's weekly return distribution.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图4：AAPL日内交易者的周回报分布。</span></p></blockquote></p><p> <ul>  <li><b>Key observation</b>: when buying and selling AAPL in a matter of days, it is most common for the bets to result in much more sizable weekly gains or losses: less than -2.0% or more than +2.0%. Earning long-term average gains of about +0.5% to +1.0%, in these cases, has been a rarity.</li> </ul> <b>What to make of it all</b></p><p><blockquote><ul><li><b>关键观察</b>：当在几天内买卖AAPL时，最常见的情况是赌注会导致更大的每周收益或损失：小于-2.0%或大于+2.0%。在这些情况下，获得约+0.5%至+1.0%的长期平均收益是罕见的。</li></ul><b>如何理解这一切</b></blockquote></p><p> Back to the original question: how long should Apple stock be held? Based on historical analysis, the answer really depends on personal goals. Here is the roadmap:</p><p><blockquote>回到最初的问题：苹果股票应该持有多久？基于历史分析，答案确实取决于个人目标。以下是路线图：</blockquote></p><p></p><p> <ul>  <li>If merely seeking long-term capital appreciation that might be market-beating, but probably not by a very wide margin, buying AAPL and holding it for a year or more is highly advisable. Speculative bets of a few weeks here and there (say, selling into strength and buying into weakness based on price action) could help to boost returns, if the trades are well executed.</li>  <li>If seeking outsized gains, trading AAPL within days would be the best approach. However, this strategy is also the riskiest, as it could lead to outsized losses instead. I believe that day-trading Apple stock is the least advisable approach to most people, but possibly an interesting proposition for a select few.</li> </ul></p><p><blockquote><ul><li>如果只是寻求可能跑赢市场的长期资本增值，但幅度可能不会很大，那么购买AAPL并持有一年或更长时间是非常明智的。如果交易执行良好，在这里或那里进行几周的投机性押注（例如，根据价格走势在强势时卖出，在弱势时买入）可能有助于提高回报。</li><li>如果寻求巨额收益，在几天内交易AAPL将是最好的方法。然而，这种策略也是风险最大的，因为它可能会导致巨大的损失。我相信日内交易苹果股票对大多数人来说是最不可取的方法，但对少数人来说可能是一个有趣的提议。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/stock/apple-stock-how-long-should-you-hold-it\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/apple-stock-how-long-should-you-hold-it","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197544614","content_text":"For best performance, how long should Apple stock be held in a portfolio? The Apple Maven discusses what traders, speculators and investors should expect when betting on AAPL.\nThe Street’s Jim Cramer has said it repeatedly: own Apple stock (ticker $AAPL), don’t trade it. Today, the Apple Maven revisits this idea to help determine how long one should hold Apple shares.\nBelow is an analysis of how much one might expect to gain if (1) day-trading, (2) speculating on, or (3) investing in Apple stock. Obviously, since the future is uncertain, the analysis is based on historical data – which I believe can at least provide a blueprint for future share price performance.\nFigure 1: AAPL trading chart.\n#1. AAPL investors: long-term winners\nAs I mentioned in my recent “Apple Stock 101” article, investors that bought Apple shares in December 1980 (i.e. the IPO date) and held onto them until now realized impressive annualized gains of 19%. Clearly, AAPL has been a good asset to “get and forget” over Apple’s tenure as a publicly-traded company.\nBut allow me to work with more realistic time frames. For this exercise, I will consider “investors” those who hold AAPL for one year. To be clear, many might consider twelve months a minimum investment horizon to qualify as long term.\nAlso, I am limiting my analysis to the past 20 years, since the stock used to be much riskier and more volatile in its first couple of decades of existence than it is now. Apple stock’s returns have been even better during this period that begins with the end of the dot-com correction:35% annualized.\nThe chart below shows the distribution of weekly returns earned by an Apple stock investor, using the parameters described above, if the bet had been made on any give day since May 2001.\nFigure 2: AAPL investor's weekly return distribution.\n\nKey observation: if held for one year, and based on historical observations alone (i.e. not on modeled projections for the future), Apple stock can arguably be expected to produce weekly returns of about +0.5% to +1.0%. Rarely has the stock been a big-time winner or loser – say, weekly returns of more than +2% or less than -1% on average – when the investment horizon is one year.\n\n#2. AAPL speculators: higher octane\nSpeculators have had a bit different experience from the above. Here, I characterize as “speculator” someone who buys AAPL and sells it ten weeks later, or roughly two and a half months after the purchase date.\nSee histogram below. For ease of comparison with the weekly return analysis immediately above, I kept the chart’s scale unchanged.\nFigure 3: AAPL speculator's weekly return distribution.\n\nKey observation: the distribution above is still somewhat bell-shaped, meaning that a weekly return of between +0.5% and +1.0% is still quite common. However, notice the much “fatter tails”. The probability of larger weekly gains or losses tends to increase when Apple stock is held for ten weeks rather than one year.\n\n#3. AAPL day-traders: buckle up!\nLastly, day-traders that buy Apple stock and sell it within less than a full week have been playing a completely different game. Once again, the histogram below depicts the averageweekly returnin AAPL when the timeframe is compressed to no more than 7 days. The chart scale, again, remains unchanged for ease of comparison.\nFigure 4: AAPL day traders's weekly return distribution.\n\nKey observation: when buying and selling AAPL in a matter of days, it is most common for the bets to result in much more sizable weekly gains or losses: less than -2.0% or more than +2.0%. Earning long-term average gains of about +0.5% to +1.0%, in these cases, has been a rarity.\n\nWhat to make of it all\nBack to the original question: how long should Apple stock be held? Based on historical analysis, the answer really depends on personal goals. Here is the roadmap:\n\nIf merely seeking long-term capital appreciation that might be market-beating, but probably not by a very wide margin, buying AAPL and holding it for a year or more is highly advisable. Speculative bets of a few weeks here and there (say, selling into strength and buying into weakness based on price action) could help to boost returns, if the trades are well executed.\nIf seeking outsized gains, trading AAPL within days would be the best approach. However, this strategy is also the riskiest, as it could lead to outsized losses instead. I believe that day-trading Apple stock is the least advisable approach to most people, but possibly an interesting proposition for a select few.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1083,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197360695,"gmtCreate":1621429285317,"gmtModify":1634189242625,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/197360695","repostId":"2136196839","repostType":4,"isVote":1,"tweetType":1,"viewCount":1704,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193721660,"gmtCreate":1620822655950,"gmtModify":1634196069390,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/193721660","repostId":"1199419646","repostType":4,"isVote":1,"tweetType":1,"viewCount":3054,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161538472,"gmtCreate":1623933908096,"gmtModify":1634025705217,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Like and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/161538472","repostId":"1178576120","repostType":4,"isVote":1,"tweetType":1,"viewCount":1130,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194914350,"gmtCreate":1621333587270,"gmtModify":1634192376859,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/194914350","repostId":"2136738931","repostType":4,"repost":{"id":"2136738931","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":1621318800,"share":"https://www.laohu8.com/m/news/2136738931?lang=zh_CN&edition=full","pubTime":"2021-05-18 14:20","market":"hk","language":"en","title":"JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2136738931","media":"Tiger Newspress","summary":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering  to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion  if the deal is priced at the top end.JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics' offering is expected to be the second multibilli","content":"<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</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>JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-18 14:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02618":"京东物流"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136738931","content_text":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.（Click here To apply for the JD Logistics Shares）JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.","news_type":1,"symbols_score_info":{"02618":0.9}},"isVote":1,"tweetType":1,"viewCount":3058,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117469576,"gmtCreate":1623157853295,"gmtModify":1634036361836,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/117469576","repostId":"1154765176","repostType":4,"isVote":1,"tweetType":1,"viewCount":1684,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":131231512,"gmtCreate":1621861905636,"gmtModify":1634186021431,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Wow nice","listText":"Wow nice","text":"Wow nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/131231512","repostId":"2137213077","repostType":4,"isVote":1,"tweetType":1,"viewCount":2535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104205382,"gmtCreate":1620391214146,"gmtModify":1634205585437,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/104205382","repostId":"1102771557","repostType":4,"isVote":1,"tweetType":1,"viewCount":2726,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106582845,"gmtCreate":1620134316687,"gmtModify":1634207576948,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/106582845","repostId":"1163572835","repostType":4,"isVote":1,"tweetType":1,"viewCount":2232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106586247,"gmtCreate":1620134272489,"gmtModify":1634207577851,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/106586247","repostId":"1141446343","repostType":4,"repost":{"id":"1141446343","kind":"news","pubTimestamp":1620108260,"share":"https://www.laohu8.com/m/news/1141446343?lang=zh_CN&edition=full","pubTime":"2021-05-04 14:04","market":"us","language":"en","title":"Bill and Melinda Gates are getting divorced. Here are some stocks they owned<blockquote>比尔和梅林达·盖茨要离婚了。以下是他们拥有的一些股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141446343","media":"seeking alpha","summary":"Though the pairin a statement assuredthe public that they will continue to work together at their foundation despiteending their marriage, the news about the Microsoftfounder and his partner of 27 years may send shockwaves across their projects.In the latest13F filingfrom the Bill and Melinda Gates Foundation Trust for the period ended 12/31/20, top holdings by value in descending order included Berkshire Hathaway, Waste Management, Caterpillar, Canadian National, Walmart, EcoLab, Crown Castle, ","content":"<p><ul><li>Though the pairin a statement assuredthe public that they will continue to work together at their foundation despiteending their marriage, the news about the Microsoft(NASDAQ:MSFT)founder and his partner of 27 years may send shockwaves across their projects.</li><li>In the latest13F filingfrom the Bill and Melinda Gates Foundation Trust for the period ended 12/31/20, top holdings by value in descending order included Berkshire Hathaway(NYSE:BRK.B), Waste Management(NYSE:WM), Caterpillar(NYSE:CAT), Canadian National(NYSE:CNI), Walmart(NYSE:WMT), EcoLab(NYSE:ECL), Crown Castle(NYSE:CCI), Fedex(NYSE:FDX)and UPS(NYSE:UPS).</li><li><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> stocks in which the foundation has a large stake (more than 10% of shares outstanding) included Schrodinger(NASDAQ:SDGR)and Coca-Cola Femsa(NYSE:KOF).</li><li>Most of the other holdings were below $1 billion in market value and their ownership consisted of less than 3% of shares outstanding in the associated stock.</li><li>The Bill and Melinda Gates Foundation, in their latestquarterly filing, disclosed ownership stakes in Amyris(NASDAQ:AMRS), Vir Biotech(NASDAQ:VIR), BionTech(NASDAQ:BNTX), Curevac(NASDAQ:CVAC)and <a href=\"https://laohu8.com/S/BCEL\">Atreca</a>(NASDAQ:BCEL).</li><li>Our readers may recall when the world's richest person, Jeff Bezos, and his partner Mackenzie Scottcalled it quits two years ago.&nbsp;This is how their wealth ended upsplit between them.</li></ul></p><p><blockquote><ul><li>尽管这对夫妇在一份声明中向公众保证，尽管结束了婚姻，他们仍将继续在基金会合作，但有关微软（纳斯达克：MSFT）创始人和他27年的合作伙伴的消息可能会给他们的项目带来冲击波。</li><li>在比尔和梅琳达·盖茨基金会信托基金截至2020年12月31日的最新13F文件中，按价值降序排列的最大持股包括伯克希尔·哈撒韦公司(NYSE：BRK.B)、废物管理公司(NYSE：WM)、卡特彼勒(NYSE：CAT)、加拿大国家航空公司(NYSE：CNI)、沃尔玛(NYSE：WMT)、艺康(NYSE：ECL)、皇冠城堡(NYSE：CCI)、联邦快递(NYSE：FDX)和UPS(NYSE：UPS)。</li><li><a href=\"https://laohu8.com/S/TWOA.U\">两个</a>该基金会持有大量股份（超过已发行股票的10%）的股票包括薛定谔（纳斯达克股票代码：SDGR）和可口可乐Femsa（纽约证券交易所股票代码：KOF）。</li><li>大多数其他持股的市值低于10亿美元，其所有权仅占相关股票已发行股份的不到3%。</li><li>比尔和梅琳达·盖茨基金会在最新的季度文件中披露了Amyris（纳斯达克：AMRS）、Vir Biotech（纳斯达克：VIR）、BionTech（纳斯达克：BNTX）、Curevac（纳斯达克：CVAC）和<a href=\"https://laohu8.com/S/BCEL\">阿特雷卡</a>（纳斯达克：BCEL）。</li><li>我们的读者可能还记得两年前世界首富杰夫·贝索斯和他的合伙人麦肯兹·斯科特宣布分手的时候。他们的财富就是这样在他们之间分配的。</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>Bill and Melinda Gates are getting divorced. Here are some stocks they owned<blockquote>比尔和梅林达·盖茨要离婚了。以下是他们拥有的一些股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBill and Melinda Gates are getting divorced. Here are some stocks they owned<blockquote>比尔和梅林达·盖茨要离婚了。以下是他们拥有的一些股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seeking alpha</strong><span class=\"h-time small\">2021-05-04 14:04</span>\n</p>\n</h4>\n</header>\n<article>\n<p><ul><li>Though the pairin a statement assuredthe public that they will continue to work together at their foundation despiteending their marriage, the news about the Microsoft(NASDAQ:MSFT)founder and his partner of 27 years may send shockwaves across their projects.</li><li>In the latest13F filingfrom the Bill and Melinda Gates Foundation Trust for the period ended 12/31/20, top holdings by value in descending order included Berkshire Hathaway(NYSE:BRK.B), Waste Management(NYSE:WM), Caterpillar(NYSE:CAT), Canadian National(NYSE:CNI), Walmart(NYSE:WMT), EcoLab(NYSE:ECL), Crown Castle(NYSE:CCI), Fedex(NYSE:FDX)and UPS(NYSE:UPS).</li><li><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> stocks in which the foundation has a large stake (more than 10% of shares outstanding) included Schrodinger(NASDAQ:SDGR)and Coca-Cola Femsa(NYSE:KOF).</li><li>Most of the other holdings were below $1 billion in market value and their ownership consisted of less than 3% of shares outstanding in the associated stock.</li><li>The Bill and Melinda Gates Foundation, in their latestquarterly filing, disclosed ownership stakes in Amyris(NASDAQ:AMRS), Vir Biotech(NASDAQ:VIR), BionTech(NASDAQ:BNTX), Curevac(NASDAQ:CVAC)and <a href=\"https://laohu8.com/S/BCEL\">Atreca</a>(NASDAQ:BCEL).</li><li>Our readers may recall when the world's richest person, Jeff Bezos, and his partner Mackenzie Scottcalled it quits two years ago.&nbsp;This is how their wealth ended upsplit between them.</li></ul></p><p><blockquote><ul><li>尽管这对夫妇在一份声明中向公众保证，尽管结束了婚姻，他们仍将继续在基金会合作，但有关微软（纳斯达克：MSFT）创始人和他27年的合作伙伴的消息可能会给他们的项目带来冲击波。</li><li>在比尔和梅琳达·盖茨基金会信托基金截至2020年12月31日的最新13F文件中，按价值降序排列的最大持股包括伯克希尔·哈撒韦公司(NYSE：BRK.B)、废物管理公司(NYSE：WM)、卡特彼勒(NYSE：CAT)、加拿大国家航空公司(NYSE：CNI)、沃尔玛(NYSE：WMT)、艺康(NYSE：ECL)、皇冠城堡(NYSE：CCI)、联邦快递(NYSE：FDX)和UPS(NYSE：UPS)。</li><li><a href=\"https://laohu8.com/S/TWOA.U\">两个</a>该基金会持有大量股份（超过已发行股票的10%）的股票包括薛定谔（纳斯达克股票代码：SDGR）和可口可乐Femsa（纽约证券交易所股票代码：KOF）。</li><li>大多数其他持股的市值低于10亿美元，其所有权仅占相关股票已发行股份的不到3%。</li><li>比尔和梅琳达·盖茨基金会在最新的季度文件中披露了Amyris（纳斯达克：AMRS）、Vir Biotech（纳斯达克：VIR）、BionTech（纳斯达克：BNTX）、Curevac（纳斯达克：CVAC）和<a href=\"https://laohu8.com/S/BCEL\">阿特雷卡</a>（纳斯达克：BCEL）。</li><li>我们的读者可能还记得两年前世界首富杰夫·贝索斯和他的合伙人麦肯兹·斯科特宣布分手的时候。他们的财富就是这样在他们之间分配的。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3689813-bill-and-melinda-gates-are-getting-divorced-here-are-some-stocks-they-owned\">seeking alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WCLD":"WisdomTree Cloud Computing Fund","WMT":"沃尔玛","CCI":"冠城","WM":"美国废物管理","FDX":"联邦快递","SDGR":"Schrodinger Inc.","VIR":"Vir Biotechnology, Inc.","MSFT":"微软","KOF":"可口可乐凡萨瓶装","BRK.B":"伯克希尔B","UPS":"联合包裹","BNTX":"BioNTech SE","CVAC":"CureVac B.V.","AMRS":"阿米瑞斯","CAT":"卡特彼勒","CNI":"加拿大国家铁路"},"source_url":"https://seekingalpha.com/news/3689813-bill-and-melinda-gates-are-getting-divorced-here-are-some-stocks-they-owned","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141446343","content_text":"Though the pairin a statement assuredthe public that they will continue to work together at their foundation despiteending their marriage, the news about the Microsoft(NASDAQ:MSFT)founder and his partner of 27 years may send shockwaves across their projects.In the latest13F filingfrom the Bill and Melinda Gates Foundation Trust for the period ended 12/31/20, top holdings by value in descending order included Berkshire Hathaway(NYSE:BRK.B), Waste Management(NYSE:WM), Caterpillar(NYSE:CAT), Canadian National(NYSE:CNI), Walmart(NYSE:WMT), EcoLab(NYSE:ECL), Crown Castle(NYSE:CCI), Fedex(NYSE:FDX)and UPS(NYSE:UPS).Two stocks in which the foundation has a large stake (more than 10% of shares outstanding) included Schrodinger(NASDAQ:SDGR)and Coca-Cola Femsa(NYSE:KOF).Most of the other holdings were below $1 billion in market value and their ownership consisted of less than 3% of shares outstanding in the associated stock.The Bill and Melinda Gates Foundation, in their latestquarterly filing, disclosed ownership stakes in Amyris(NASDAQ:AMRS), Vir Biotech(NASDAQ:VIR), BionTech(NASDAQ:BNTX), Curevac(NASDAQ:CVAC)and Atreca(NASDAQ:BCEL).Our readers may recall when the world's richest person, Jeff Bezos, and his partner Mackenzie Scottcalled it quits two years ago. This is how their wealth ended upsplit between them.","news_type":1,"symbols_score_info":{"CVAC":0.9,"WMT":0.9,"BRK.B":0.9,"BCEL":0.9,"MSFT":0.9,"KOF":0.9,"CNI":0.9,"CAT":0.9,"UPS":0.9,"CCI":0.9,"BNTX":0.9,"WCLD":0.9,"WM":0.9,"AMRS":0.9,"FDX":0.9,"SDGR":0.9,"VIR":0.9}},"isVote":1,"tweetType":1,"viewCount":493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354409536,"gmtCreate":1617193338325,"gmtModify":1634522168053,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354409536","repostId":"1165057178","repostType":4,"repost":{"id":"1165057178","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":1617192243,"share":"https://www.laohu8.com/m/news/1165057178?lang=zh_CN&edition=full","pubTime":"2021-03-31 20:04","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165057178","media":"Tiger Newspress","summary":"U.S. Futures Mixed, Nasdaq future rally;Private payrolls rose by 517,000 in March, vs 525,000 estima","content":"<p><ul><li>U.S. Futures Mixed,&nbsp;Nasdaq&nbsp;future&nbsp;rally;</li><li>Private payrolls rose by 517,000 in March, vs 525,000 estimate, ADP says.</li><li>Chewy, BlackBerry, BioNTech &amp; more&nbsp;making the biggest moves in the premarket.</li></ul>(March 31)&nbsp;S&amp;P 500 futures were flat on Wednesday, as investors awaited details of how President Joe Biden would fund a massive infrastructure plan, while Wall Street headed for its fourth straight quarterly gain on signs of a strong economic rebound.</p><p><blockquote><ul><li>美国期货涨跌不一，纳斯达克期货上涨；</li><li>ADP表示，3月份私人就业人数增加517,000人，高于预期的525,000人。</li><li>Chewy、黑莓、BioNTech等在上市前做出了最大的举措。</li></ul>（3月31日）标普500指数期货周三持平，因投资者等待总统拜登将如何为大规模基础设施计划提供资金的细节，而华尔街因经济强劲反弹的迹象而连续第四个季度上涨。</blockquote></p><p>At 8:01 a.m. ET, Dow E-minis were down 26 points, or 0.08%, S&amp;P 500 E-minis were up 5 points, or 0.13% and Nasdaq 100 E-minis were rose&nbsp;76.75 points, or 0.60%.</p><p><blockquote>截至美国东部时间上午8点01分，道琼斯指数下跌26点，跌幅0.08%，标普500指数上涨5点，跌幅0.13%，纳斯达克100指数上涨76.75点，跌幅0.60%。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/13059b6147eebcba983b1026858b8ff5\" tg-width=\"1242\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>*Source FromTiger Trade, EST 08:01</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源：Tiger Trade，美国东部时间08:01</span></p></blockquote></p><p><b>Stocks making the biggest moves in the premarket: Chewy, BlackBerry, BioNTech &amp; more:</b></p><p><blockquote><b>盘前涨幅最大的股票：Chewy、黑莓、BioNTech等：</b></blockquote></p><p>1)&nbsp;Chewy(CHWY) – The pet products seller earned a surprise profit of 5 cents per share, compared to expectations of a 10 cents per share loss. Revenue also beat estimates as net sales surged 47% from a year ago, as homebound consumers ordered more of their pet food and other pet products. Chewy shares surged 10.4% in premarket trading.</p><p><blockquote>1)Chewy(CHWY)——这家宠物产品销售商出人意料地获得了每股5美分的利润，而预期每股亏损10美分。由于居家消费者订购了更多宠物食品和其他宠物产品，净销售额同比飙升47%，收入也超出了预期。Chewy股价在盘前交易中飙升10.4%。</blockquote></p><p>2)&nbsp;BlackBerry(BB) – Shares of the communications software company fell 5.9% in premarket action following its quarterly results. BlackBerry matched estimates with adjusted quarterly earnings of 3 cents per share, but revenue fell short of forecasts amid slower demand for the company’s QNX care software.</p><p><blockquote>2)黑莓(BB)——这家通信软件公司公布季度业绩后，其股价在盘前下跌5.9%。黑莓调整后季度收益为每股3美分，符合预期，但由于对该公司QNX care软件的需求放缓，收入低于预期。</blockquote></p><p>3)&nbsp;Pfizer(PFE) – The drugmaker said the Covid-19 vaccine made by Pfizer and German partnerBioNTech(BNTX)was 100% effective and well-tolerated in a trial of 12- to 15-year-olds. Given those results, Pfizer said it expects to ask regulators to approve the use of the shots for that age group. BioNTech shares rose 2.8% in premarket trading, while Pfizer was up 0.7%.</p><p><blockquote>3)辉瑞(PFE)——该制药商表示，辉瑞和德国合作伙伴BioNTech(BNTX)生产的Covid-19疫苗在12至15岁儿童的试验中100%有效且耐受性良好。鉴于这些结果，辉瑞表示，预计将要求监管机构批准该年龄段的疫苗使用。BioNTech股价在盘前交易中上涨2.8%，辉瑞股价上涨0.7%。</blockquote></p><p>4)&nbsp;Walgreens(WBA) – The drugstore operator reported quarterly earnings of $1.40 per share, beating the consensus estimate of $1.11 a share. The company also raised its full-year guidance. Walgreens said quarterly earnings were pressured in part by weaker sales of cold, cough and flu products. Shares of Walgreens rose 2.1% in the premarket.</p><p><blockquote>4)沃尔格林(WBA)——这家药店运营商公布的季度收益为每股1.40美元，超出了每股1.11美元的普遍预期。该公司还上调了全年指引。沃尔格林表示，季度收益部分受到感冒、咳嗽和流感产品销售疲软的压力。沃尔格林股价盘前上涨2.1%。</blockquote></p><p>5)&nbsp;Lululemon(LULU) – The stock fell 1.8% in premarket action despitea beat on the top and bottom linesfor the athletic apparel and leisurewear company. Lululemon beat estimates by 9 cents a share, with quarterly earnings of $2.58 per share. Revenue came in above estimates as well. Brick and mortar comparable sales slumped 28% amid the pandemic, but that was offset by a surge in digital sales.</p><p><blockquote>5)Lululemon(LULU)——尽管这家运动服装和休闲服公司的营收和利润均有所改善，但该股在盘前下跌1.8%。Lululemon每股收益超出预期9美分，季度收益为每股2.58美元。收入也高于预期。在疫情期间，实体可比销售额下降了28%，但这被数字销售额的激增所抵消。</blockquote></p><p>6)&nbsp;Tilray(TLRY),Canopy Growth(CGC),Aphria(APHA),Aurora Cannabis(ACG) – Marijuana stocks are rising afterNew York State passed a billto become the 15th state to legalize recreational use, with Gov. Andrew Cuomo expected to sign it. Tilray rose 3.5% in the premarket, Canopy Growth gained 1%, Aphria climbed 3.9%, and Aurora Cannabis edged up 0.7%.</p><p><blockquote>6)Tilray(TLRY)、Canopy Growth(CGC)、Aphria(APHA)、Aurora Cannabis(ACG)—纽约州通过一项法案，成为第15个娱乐用途合法化的州，预计州长安德鲁·科莫将签署它。Tilray盘前上涨3.5%，Canopy Growth上涨1%，Aphria上涨3.9%，Aurora Cannabis小幅上涨0.7%。</blockquote></p><p>7)&nbsp;PVH(PVH) – The apparel company lost 38 cents per share for its latest quarter, 4 cents a share more than analysts were anticipating. Revenue came in slightly below estimates as well. PVH said it does expect to return to profit this fiscal year, but its projections are shy of analyst estimates and its shares fell 1.1% in premarket action.</p><p><blockquote>7)PVH(PVH)——这家服装公司最近一个季度每股亏损38美分，比分析师预期高出4美分。收入也略低于预期。PVH表示，预计本财年将恢复盈利，但其预测低于分析师预期，其股价在盘前下跌1.1%。</blockquote></p><p>8)&nbsp;Cleveland-Cliffs(CLF) – The steel producer’s shares surged 6.8% premarket after it announced preliminary results for the quarter that ends today. The projected earnings for the quarter and the full year are well above current Wall Street projections.</p><p><blockquote>8)克利夫兰克利夫斯(CLF)——这家钢铁生产商公布截至今天的季度初步业绩后，其股价盘前飙升6.8%。该季度和全年的预计收益远高于华尔街目前的预测。</blockquote></p><p>9)&nbsp;Harley-Davidson(HOG) – The motorcycle maker’s shares gained 2.9% in premarket trading after Baird upgraded the stock to “outperform” from “neutral.” Baird noted that it was the first time since 2016 that it had rated the stock “outperform,” saying the company’s change in strategic direction and lean inventories were among the positive factors behind the upgrade.</p><p><blockquote>9)哈雷戴维森(HOG)——贝尔德将该股评级从“中性”上调至“跑赢大盘”后，这家摩托车制造商的股价在盘前交易中上涨2.9%。贝尔德指出，这是自2016年以来首次将该股评级为“跑赢大盘”，并表示该公司战略方向的变化和精益库存是此次上调背后的积极因素之一。</blockquote></p><p>10)&nbsp;Apple(AAPL) – UBS upgraded Apple to “buy” from “neutral,” saying it expected more stable long-term iPhone demand and stronger average sales prices. Apple rose 1.6% in the premarket.</p><p><blockquote>10)苹果(AAPL)-瑞银将苹果评级从“中性”上调至“买入”，称预计iPhone长期需求将更加稳定，平均销售价格将更加强劲。苹果盘前上涨1.6%。</blockquote></p><p>11)&nbsp;Applied Materials(AMAT) – The semiconductor manufacturing equipment maker was rated “outperform” in new coverage at Bernstein, noting what it calls a long-term positive structural stance. Applied Materials rose 2.8% in premarket trading.</p><p><blockquote>11)应用材料公司(AMAT)——这家半导体制造设备制造商在Bernstein的新报道中被评为“跑赢大盘”，并指出其评级长期积极的结构性立场。应用材料公司在盘前交易中上涨2.8%。</blockquote></p><p><b>Big&nbsp;News</b></p><p><blockquote><b>大新闻</b></blockquote></p><p><b>1.&nbsp;Private payrolls rose by 517,000 in March, less than expected</b></p><p><blockquote><b>1.3月私人就业人数增加51.7万人，不及预期</b></blockquote></p><p></p><p><ul><li>Private payrolls rose by 517,000 in March, the fastest pace since September 2020, according to ADP.</li><li>The total was just below the Dow Jones estimate of 525,000 but well above February’s 176,000.</li><li>Hospitality led the way, with the battered sector adding 169,000 new workers.</li></ul><b>2. Biden set to unveil his $2 trillion infrastructure plan</b></p><p><blockquote><ul><li>ADP的数据显示，3月份私人就业人数增加了51.7万人，为2020年9月以来的最快增速。</li><li>总数略低于道琼斯估计的525,000人，但远高于2月份的176,000人。</li><li>酒店业处于领先地位，遭受重创的行业增加了169,000名新员工。</li></ul><b>2.拜登将公布其2万亿美元基础设施计划</b></blockquote></p><p>PresidentJoe Bidenwill unveil a more than $2 trillion infrastructure and economic recovery package Wednesday. The plan aims to revitalize U.S. transportation infrastructure, water systems, broadband and manufacturing, among other goals. An increase in the corporate tax rate to 28% and measures designed to prevent the offshoring of profits will fund the spending,according to the White House. Biden hopes the package will create manufacturing jobs and rescue failing American infrastructure as the country tries to emerge from the shadow of Covid.</p><p><blockquote>总统乔·拜登将于周三公布超过2万亿美元的基础设施和经济复苏计划。该计划旨在振兴美国交通基础设施、供水系统、宽带和制造业等目标。白宫表示，将企业税率提高至28%以及旨在防止利润离岸的措施将为支出提供资金。拜登希望该计划能够创造制造业就业机会，并在美国试图走出新冠疫情的阴影时拯救失败的美国基础设施。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Wednesday<blockquote>周三美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-31 20:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><ul><li>U.S. Futures Mixed,&nbsp;Nasdaq&nbsp;future&nbsp;rally;</li><li>Private payrolls rose by 517,000 in March, vs 525,000 estimate, ADP says.</li><li>Chewy, BlackBerry, BioNTech &amp; more&nbsp;making the biggest moves in the premarket.</li></ul>(March 31)&nbsp;S&amp;P 500 futures were flat on Wednesday, as investors awaited details of how President Joe Biden would fund a massive infrastructure plan, while Wall Street headed for its fourth straight quarterly gain on signs of a strong economic rebound.</p><p><blockquote><ul><li>美国期货涨跌不一，纳斯达克期货上涨；</li><li>ADP表示，3月份私人就业人数增加517,000人，高于预期的525,000人。</li><li>Chewy、黑莓、BioNTech等在上市前做出了最大的举措。</li></ul>（3月31日）标普500指数期货周三持平，因投资者等待总统拜登将如何为大规模基础设施计划提供资金的细节，而华尔街因经济强劲反弹的迹象而连续第四个季度上涨。</blockquote></p><p>At 8:01 a.m. ET, Dow E-minis were down 26 points, or 0.08%, S&amp;P 500 E-minis were up 5 points, or 0.13% and Nasdaq 100 E-minis were rose&nbsp;76.75 points, or 0.60%.</p><p><blockquote>截至美国东部时间上午8点01分，道琼斯指数下跌26点，跌幅0.08%，标普500指数上涨5点，跌幅0.13%，纳斯达克100指数上涨76.75点，跌幅0.60%。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/13059b6147eebcba983b1026858b8ff5\" tg-width=\"1242\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>*Source FromTiger Trade, EST 08:01</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源：Tiger Trade，美国东部时间08:01</span></p></blockquote></p><p><b>Stocks making the biggest moves in the premarket: Chewy, BlackBerry, BioNTech &amp; more:</b></p><p><blockquote><b>盘前涨幅最大的股票：Chewy、黑莓、BioNTech等：</b></blockquote></p><p>1)&nbsp;Chewy(CHWY) – The pet products seller earned a surprise profit of 5 cents per share, compared to expectations of a 10 cents per share loss. Revenue also beat estimates as net sales surged 47% from a year ago, as homebound consumers ordered more of their pet food and other pet products. Chewy shares surged 10.4% in premarket trading.</p><p><blockquote>1)Chewy(CHWY)——这家宠物产品销售商出人意料地获得了每股5美分的利润，而预期每股亏损10美分。由于居家消费者订购了更多宠物食品和其他宠物产品，净销售额同比飙升47%，收入也超出了预期。Chewy股价在盘前交易中飙升10.4%。</blockquote></p><p>2)&nbsp;BlackBerry(BB) – Shares of the communications software company fell 5.9% in premarket action following its quarterly results. BlackBerry matched estimates with adjusted quarterly earnings of 3 cents per share, but revenue fell short of forecasts amid slower demand for the company’s QNX care software.</p><p><blockquote>2)黑莓(BB)——这家通信软件公司公布季度业绩后，其股价在盘前下跌5.9%。黑莓调整后季度收益为每股3美分，符合预期，但由于对该公司QNX care软件的需求放缓，收入低于预期。</blockquote></p><p>3)&nbsp;Pfizer(PFE) – The drugmaker said the Covid-19 vaccine made by Pfizer and German partnerBioNTech(BNTX)was 100% effective and well-tolerated in a trial of 12- to 15-year-olds. Given those results, Pfizer said it expects to ask regulators to approve the use of the shots for that age group. BioNTech shares rose 2.8% in premarket trading, while Pfizer was up 0.7%.</p><p><blockquote>3)辉瑞(PFE)——该制药商表示，辉瑞和德国合作伙伴BioNTech(BNTX)生产的Covid-19疫苗在12至15岁儿童的试验中100%有效且耐受性良好。鉴于这些结果，辉瑞表示，预计将要求监管机构批准该年龄段的疫苗使用。BioNTech股价在盘前交易中上涨2.8%，辉瑞股价上涨0.7%。</blockquote></p><p>4)&nbsp;Walgreens(WBA) – The drugstore operator reported quarterly earnings of $1.40 per share, beating the consensus estimate of $1.11 a share. The company also raised its full-year guidance. Walgreens said quarterly earnings were pressured in part by weaker sales of cold, cough and flu products. Shares of Walgreens rose 2.1% in the premarket.</p><p><blockquote>4)沃尔格林(WBA)——这家药店运营商公布的季度收益为每股1.40美元，超出了每股1.11美元的普遍预期。该公司还上调了全年指引。沃尔格林表示，季度收益部分受到感冒、咳嗽和流感产品销售疲软的压力。沃尔格林股价盘前上涨2.1%。</blockquote></p><p>5)&nbsp;Lululemon(LULU) – The stock fell 1.8% in premarket action despitea beat on the top and bottom linesfor the athletic apparel and leisurewear company. Lululemon beat estimates by 9 cents a share, with quarterly earnings of $2.58 per share. Revenue came in above estimates as well. Brick and mortar comparable sales slumped 28% amid the pandemic, but that was offset by a surge in digital sales.</p><p><blockquote>5)Lululemon(LULU)——尽管这家运动服装和休闲服公司的营收和利润均有所改善，但该股在盘前下跌1.8%。Lululemon每股收益超出预期9美分，季度收益为每股2.58美元。收入也高于预期。在疫情期间，实体可比销售额下降了28%，但这被数字销售额的激增所抵消。</blockquote></p><p>6)&nbsp;Tilray(TLRY),Canopy Growth(CGC),Aphria(APHA),Aurora Cannabis(ACG) – Marijuana stocks are rising afterNew York State passed a billto become the 15th state to legalize recreational use, with Gov. Andrew Cuomo expected to sign it. Tilray rose 3.5% in the premarket, Canopy Growth gained 1%, Aphria climbed 3.9%, and Aurora Cannabis edged up 0.7%.</p><p><blockquote>6)Tilray(TLRY)、Canopy Growth(CGC)、Aphria(APHA)、Aurora Cannabis(ACG)—纽约州通过一项法案，成为第15个娱乐用途合法化的州，预计州长安德鲁·科莫将签署它。Tilray盘前上涨3.5%，Canopy Growth上涨1%，Aphria上涨3.9%，Aurora Cannabis小幅上涨0.7%。</blockquote></p><p>7)&nbsp;PVH(PVH) – The apparel company lost 38 cents per share for its latest quarter, 4 cents a share more than analysts were anticipating. Revenue came in slightly below estimates as well. PVH said it does expect to return to profit this fiscal year, but its projections are shy of analyst estimates and its shares fell 1.1% in premarket action.</p><p><blockquote>7)PVH(PVH)——这家服装公司最近一个季度每股亏损38美分，比分析师预期高出4美分。收入也略低于预期。PVH表示，预计本财年将恢复盈利，但其预测低于分析师预期，其股价在盘前下跌1.1%。</blockquote></p><p>8)&nbsp;Cleveland-Cliffs(CLF) – The steel producer’s shares surged 6.8% premarket after it announced preliminary results for the quarter that ends today. The projected earnings for the quarter and the full year are well above current Wall Street projections.</p><p><blockquote>8)克利夫兰克利夫斯(CLF)——这家钢铁生产商公布截至今天的季度初步业绩后，其股价盘前飙升6.8%。该季度和全年的预计收益远高于华尔街目前的预测。</blockquote></p><p>9)&nbsp;Harley-Davidson(HOG) – The motorcycle maker’s shares gained 2.9% in premarket trading after Baird upgraded the stock to “outperform” from “neutral.” Baird noted that it was the first time since 2016 that it had rated the stock “outperform,” saying the company’s change in strategic direction and lean inventories were among the positive factors behind the upgrade.</p><p><blockquote>9)哈雷戴维森(HOG)——贝尔德将该股评级从“中性”上调至“跑赢大盘”后，这家摩托车制造商的股价在盘前交易中上涨2.9%。贝尔德指出，这是自2016年以来首次将该股评级为“跑赢大盘”，并表示该公司战略方向的变化和精益库存是此次上调背后的积极因素之一。</blockquote></p><p>10)&nbsp;Apple(AAPL) – UBS upgraded Apple to “buy” from “neutral,” saying it expected more stable long-term iPhone demand and stronger average sales prices. Apple rose 1.6% in the premarket.</p><p><blockquote>10)苹果(AAPL)-瑞银将苹果评级从“中性”上调至“买入”，称预计iPhone长期需求将更加稳定，平均销售价格将更加强劲。苹果盘前上涨1.6%。</blockquote></p><p>11)&nbsp;Applied Materials(AMAT) – The semiconductor manufacturing equipment maker was rated “outperform” in new coverage at Bernstein, noting what it calls a long-term positive structural stance. Applied Materials rose 2.8% in premarket trading.</p><p><blockquote>11)应用材料公司(AMAT)——这家半导体制造设备制造商在Bernstein的新报道中被评为“跑赢大盘”，并指出其评级长期积极的结构性立场。应用材料公司在盘前交易中上涨2.8%。</blockquote></p><p><b>Big&nbsp;News</b></p><p><blockquote><b>大新闻</b></blockquote></p><p><b>1.&nbsp;Private payrolls rose by 517,000 in March, less than expected</b></p><p><blockquote><b>1.3月私人就业人数增加51.7万人，不及预期</b></blockquote></p><p></p><p><ul><li>Private payrolls rose by 517,000 in March, the fastest pace since September 2020, according to ADP.</li><li>The total was just below the Dow Jones estimate of 525,000 but well above February’s 176,000.</li><li>Hospitality led the way, with the battered sector adding 169,000 new workers.</li></ul><b>2. Biden set to unveil his $2 trillion infrastructure plan</b></p><p><blockquote><ul><li>ADP的数据显示，3月份私人就业人数增加了51.7万人，为2020年9月以来的最快增速。</li><li>总数略低于道琼斯估计的525,000人，但远高于2月份的176,000人。</li><li>酒店业处于领先地位，遭受重创的行业增加了169,000名新员工。</li></ul><b>2.拜登将公布其2万亿美元基础设施计划</b></blockquote></p><p>PresidentJoe Bidenwill unveil a more than $2 trillion infrastructure and economic recovery package Wednesday. The plan aims to revitalize U.S. transportation infrastructure, water systems, broadband and manufacturing, among other goals. An increase in the corporate tax rate to 28% and measures designed to prevent the offshoring of profits will fund the spending,according to the White House. Biden hopes the package will create manufacturing jobs and rescue failing American infrastructure as the country tries to emerge from the shadow of Covid.</p><p><blockquote>总统乔·拜登将于周三公布超过2万亿美元的基础设施和经济复苏计划。该计划旨在振兴美国交通基础设施、供水系统、宽带和制造业等目标。白宫表示，将企业税率提高至28%以及旨在防止利润离岸的措施将为支出提供资金。拜登希望该计划能够创造制造业就业机会，并在美国试图走出新冠疫情的阴影时拯救失败的美国基础设施。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a82005fdd5a20870413111b3adc1a547","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165057178","content_text":"U.S. Futures Mixed, Nasdaq future rally;Private payrolls rose by 517,000 in March, vs 525,000 estimate, ADP says.Chewy, BlackBerry, BioNTech & more making the biggest moves in the premarket.(March 31) S&P 500 futures were flat on Wednesday, as investors awaited details of how President Joe Biden would fund a massive infrastructure plan, while Wall Street headed for its fourth straight quarterly gain on signs of a strong economic rebound.At 8:01 a.m. ET, Dow E-minis were down 26 points, or 0.08%, S&P 500 E-minis were up 5 points, or 0.13% and Nasdaq 100 E-minis were rose 76.75 points, or 0.60%.*Source FromTiger Trade, EST 08:01Stocks making the biggest moves in the premarket: Chewy, BlackBerry, BioNTech & more:1) Chewy(CHWY) – The pet products seller earned a surprise profit of 5 cents per share, compared to expectations of a 10 cents per share loss. Revenue also beat estimates as net sales surged 47% from a year ago, as homebound consumers ordered more of their pet food and other pet products. Chewy shares surged 10.4% in premarket trading.2) BlackBerry(BB) – Shares of the communications software company fell 5.9% in premarket action following its quarterly results. BlackBerry matched estimates with adjusted quarterly earnings of 3 cents per share, but revenue fell short of forecasts amid slower demand for the company’s QNX care software.3) Pfizer(PFE) – The drugmaker said the Covid-19 vaccine made by Pfizer and German partnerBioNTech(BNTX)was 100% effective and well-tolerated in a trial of 12- to 15-year-olds. Given those results, Pfizer said it expects to ask regulators to approve the use of the shots for that age group. BioNTech shares rose 2.8% in premarket trading, while Pfizer was up 0.7%.4) Walgreens(WBA) – The drugstore operator reported quarterly earnings of $1.40 per share, beating the consensus estimate of $1.11 a share. The company also raised its full-year guidance. Walgreens said quarterly earnings were pressured in part by weaker sales of cold, cough and flu products. Shares of Walgreens rose 2.1% in the premarket.5) Lululemon(LULU) – The stock fell 1.8% in premarket action despitea beat on the top and bottom linesfor the athletic apparel and leisurewear company. Lululemon beat estimates by 9 cents a share, with quarterly earnings of $2.58 per share. Revenue came in above estimates as well. Brick and mortar comparable sales slumped 28% amid the pandemic, but that was offset by a surge in digital sales.6) Tilray(TLRY),Canopy Growth(CGC),Aphria(APHA),Aurora Cannabis(ACG) – Marijuana stocks are rising afterNew York State passed a billto become the 15th state to legalize recreational use, with Gov. Andrew Cuomo expected to sign it. Tilray rose 3.5% in the premarket, Canopy Growth gained 1%, Aphria climbed 3.9%, and Aurora Cannabis edged up 0.7%.7) PVH(PVH) – The apparel company lost 38 cents per share for its latest quarter, 4 cents a share more than analysts were anticipating. Revenue came in slightly below estimates as well. PVH said it does expect to return to profit this fiscal year, but its projections are shy of analyst estimates and its shares fell 1.1% in premarket action.8) Cleveland-Cliffs(CLF) – The steel producer’s shares surged 6.8% premarket after it announced preliminary results for the quarter that ends today. The projected earnings for the quarter and the full year are well above current Wall Street projections.9) Harley-Davidson(HOG) – The motorcycle maker’s shares gained 2.9% in premarket trading after Baird upgraded the stock to “outperform” from “neutral.” Baird noted that it was the first time since 2016 that it had rated the stock “outperform,” saying the company’s change in strategic direction and lean inventories were among the positive factors behind the upgrade.10) Apple(AAPL) – UBS upgraded Apple to “buy” from “neutral,” saying it expected more stable long-term iPhone demand and stronger average sales prices. Apple rose 1.6% in the premarket.11) Applied Materials(AMAT) – The semiconductor manufacturing equipment maker was rated “outperform” in new coverage at Bernstein, noting what it calls a long-term positive structural stance. Applied Materials rose 2.8% in premarket trading.Big News1. Private payrolls rose by 517,000 in March, less than expectedPrivate payrolls rose by 517,000 in March, the fastest pace since September 2020, according to ADP.The total was just below the Dow Jones estimate of 525,000 but well above February’s 176,000.Hospitality led the way, with the battered sector adding 169,000 new workers.2. Biden set to unveil his $2 trillion infrastructure planPresidentJoe Bidenwill unveil a more than $2 trillion infrastructure and economic recovery package Wednesday. The plan aims to revitalize U.S. transportation infrastructure, water systems, broadband and manufacturing, among other goals. An increase in the corporate tax rate to 28% and measures designed to prevent the offshoring of profits will fund the spending,according to the White House. Biden hopes the package will create manufacturing jobs and rescue failing American infrastructure as the country tries to emerge from the shadow of Covid.","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":372,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108515268,"gmtCreate":1620040519754,"gmtModify":1634208324375,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108515268","repostId":"2132359636","repostType":4,"isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109266228,"gmtCreate":1619700915464,"gmtModify":1634210622791,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109266228","repostId":"1183966356","repostType":4,"repost":{"id":"1183966356","kind":"news","pubTimestamp":1619665696,"share":"https://www.laohu8.com/m/news/1183966356?lang=zh_CN&edition=full","pubTime":"2021-04-29 11:08","market":"us","language":"en","title":"NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183966356","media":"InvestoPedia","summary":"Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.Revenue is expected to soar on expanding vehicle sales.NIO Inc. , like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles . NIO's production stoppage in late March had little impact on the company's record ve","content":"<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每股美国存托凭证亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度汽车交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>","source":"lsy1606203311635","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</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\">\nNIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestoPedia</strong><span class=\"h-time small\">2021-04-29 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每股美国存托凭证亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度汽车交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991\">InvestoPedia</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183966356","content_text":"Focus on NIO vehicle deliveries\nKEY TAKEAWAYS\n\nAnalysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.\nVehicle deliveries, already announced, rose dramatically YOY.\nRevenue is expected to soar on expanding vehicle sales.\n\nNIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.\nInvestors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.\nVehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.\nShares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&P 500's total return of 45.5%.\nSource: TradingView.\nNIO Earnings History\nThe stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's Q4 FY 2020 earnings report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its gross margin rose to 17.2% compared to negative 8.9% in the year-ago quarter.\nIn Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.\nAnalysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.\nSource: Visible Alpha; NIO Inc.\nThe Key Metric\nAs mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.\nNIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":472,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325204636,"gmtCreate":1615900142225,"gmtModify":1703494695221,"author":{"id":"3573373141883201","authorId":"3573373141883201","name":"d72790c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573373141883201","authorIdStr":"3573373141883201"},"themes":[],"htmlText":"Agreed","listText":"Agreed","text":"Agreed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/325204636","repostId":"1199153511","repostType":4,"repost":{"id":"1199153511","kind":"news","pubTimestamp":1615898909,"share":"https://www.laohu8.com/m/news/1199153511?lang=zh_CN&edition=full","pubTime":"2021-03-16 20:48","market":"us","language":"en","title":"This Isn't Your Father's Overvalued Market<blockquote>这不是你父亲高估的市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199153511","media":"zerohedge","summary":"Many analysts contend that currentstock valuationsresemble the dot-com era. You can see it visually ","content":"<p>Many analysts contend that currentstock valuationsresemble the dot-com era. You can see it visually at CurrentMarketValuation.com. Some highlights...</p><p><blockquote>许多分析师认为，当前的股票估值类似于互联网时代。你可以在CurrentMarketValuation.com直观地看到它。一些亮点...</blockquote></p><p> The classic&nbsp;<b>“Buffett Indicator”</b>&nbsp;certainly seems to be in nosebleed territory. Notice that the valuations in 1966, the beginning of a long-term bear market, were also high.</p><p><blockquote>经典<b>“巴菲特指标”</b>看起来肯定是在流鼻血的领域。请注意，1966年（长期熊市的开始）的估值也很高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/84ead1c8048f2f837b1f849fee01d477\" tg-width=\"1200\" tg-height=\"592\" referrerpolicy=\"no-referrer\"><i>Source: CurrentMarketValuation.com</i></p><p><blockquote><i>资料来源：CurrentMarketValuation.com</i></blockquote></p><p> Then there is the ever-popular&nbsp;<b>price-to-earnings ratio</b>. Notice by this measure that valuations were not all that stretched in 1966. Yet there still followed a 17-year bear market, as measured from the peak back to where it started.</p><p><blockquote>然后是一直流行的<b>市盈率</b>请注意，根据这一衡量标准，1966年的估值并没有那么高。然而，从峰值到起点衡量，17年的熊市仍然接踵而至。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ad62168f364b6064cebd61dcdba23c5b\" tg-width=\"1200\" tg-height=\"596\"></p><p><blockquote></blockquote></p><p> <i>Source: CurrentMarketValuation.com</i></p><p><blockquote><i>资料来源：CurrentMarketValuation.com</i></blockquote></p><p> This next one is unusual:&nbsp;<b>valuation as measured by mean reversion</b>.&nbsp;Mean reversion&nbsp;is the fairly unsophisticated concept that \"what goes up must come down.\"</p><p><blockquote>下一个很不寻常：<b>按均值回归计量的估值</b>均值回归是一个相当简单的概念，即“上升的必然下降”。</blockquote></p><p> While the market’s day-to-day movements are chaotic, long-term stockmarket returnstend to follow somewhat predictable upward trends. But they can also deviate from the trend for years or even decades.</p><p><blockquote>虽然市场的日常走势很混乱，但股市的长期回报往往会遵循某种可预测的上升趋势。但它们也可能在数年甚至数十年内偏离趋势。</blockquote></p><p> This isn’t a trading strategy. But it's still a useful indicator of overall market valuation relative to the past.</p><p><blockquote>这不是交易策略。但相对于过去，它仍然是整体市场估值的有用指标。</blockquote></p><p> <b>What's Different Now</b></p><p><blockquote><b>现在有什么不同</b></blockquote></p><p> This is not your father’s or your grandfather’s (if he was alive in 1929) overvalued market.</p><p><blockquote>这不是你父亲或你祖父（如果他在1929年还活着）的高估市场。</blockquote></p><p> There are two major differences…</p><p><blockquote>有两个主要区别……</blockquote></p><p> First, in the dot-com era, the Federal Reserve had let loose the dogs of easymonetary policygoing into the Y2K event. That was appropriate given the uncertainty, but it clearly helped send already overvalued markets to extremes.</p><p><blockquote>首先，在互联网时代，美联储在千年虫事件中放松了宽松货币政策。考虑到不确定性，这是适当的，但它显然有助于将已经被高估的市场推向极端。</blockquote></p><p> We had day traders piling into anything that looked like an internet stock, speculations, really easy money, and so forth. Then after January 1 passed uneventfully, Greenspan appropriately reversed the Fed’s monetary policy. Oops.</p><p><blockquote>我们有日内交易者涌入任何看起来像互联网股票、投机、真正轻松赚钱等等的东西。然后在1月1日平安无事地过去后，格林斯潘适当地扭转了美联储的货币政策。哎呀。</blockquote></p><p> And now we have enormous federal government stimulus, soon to be about 25% of GDP in less than a year. That money ends up somewhere, but&nbsp;its impact is still unclear. There is no historical parallel to consider.</p><p><blockquote>现在我们有了巨大的联邦政府刺激，在不到一年的时间里将达到GDP的25%左右。这笔钱最终会到达某个地方，但其影响仍不清楚。没有历史相似之处需要考虑。</blockquote></p><p> <b>Overvalued Market... But Perhaps Not Overpriced</b></p><p><blockquote><b>高估的市场...但也许价格并不高</b></blockquote></p><p> Jerome Powell is not Alan Greenspan.</p><p><blockquote>杰罗姆·鲍威尔不是艾伦·格林斯潘。</blockquote></p><p> Powell and his colleagues have made it very clear they will keep monetary policy loose and rates low for a very long time.Inflationis well down their worry list. Their top concern is unemployment,&nbsp;which is indeed a real problem.</p><p><blockquote>鲍威尔和他的同事已经明确表示，他们将在很长一段时间内保持宽松的货币政策和低利率。通货膨胀在他们的担忧清单上名列前茅。他们最关心的是失业，这确实是一个现实问题。</blockquote></p><p> The Fed is telling us it will let inflation get to 3% or more. They are looking at the average inflation over time, which means they can justify doing anything they want.</p><p><blockquote>美联储告诉我们，它将让通胀率达到3%或更高。他们正在关注一段时间内的平均通货膨胀率，这意味着他们可以证明做任何他们想做的事情是合理的。</blockquote></p><p> What they want is lowrates, even if it overheats the economy, until unemployment returns to where it was before the pandemic.</p><p><blockquote>他们想要的是降低利率，即使这会使经济过热，直到失业率回到大流行之前的水平。</blockquote></p><p> If they really mean that, then we are going to have low rates for a very long time, as unemployment is a bigger problem than most people think.</p><p><blockquote>如果他们真的是这个意思，那么我们将在很长一段时间内保持低利率，因为失业是一个比大多数人想象的更大的问题。</blockquote></p><p> It also means, maybe not coincidentally, the US Treasury will find it easier to refinance an&nbsp;ever-increasing federal deficit.</p><p><blockquote>这也意味着，也许并非巧合的是，美国财政部将发现为不断增加的联邦赤字再融资变得更加容易。</blockquote></p><p> But persistent low rates might mean stock market valuations are actually in the fair value range.</p><p><blockquote>但持续的低利率可能意味着股市估值实际上处于公允价值范围内。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef10f8c196ce434aeffb1b04642aa49\" tg-width=\"1200\" tg-height=\"596\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Look at this chart showing S&amp;P 500 value relative to interest rates. Interest rates are 1.6 standard deviations below the trendline.</p><p><blockquote>看看这张显示标普500价值相对于利率的图表。利率比趋势线低1.6个标准差。</blockquote></p><p> That suggests that the S&amp;P 500 may not be so overpriced.</p><p><blockquote>这表明标普500的价格可能并没有那么高。</blockquote></p><p> While valuations tell us nothing about short-term market moves, they are actually pretty good at longer-term returns.</p><p><blockquote>虽然估值没有告诉我们任何关于短期市场走势的信息，但它们实际上在长期回报方面非常出色。</blockquote></p><p> That being said, some smart people I follow see pockets of undervaluation (at least relative to the US) in more than a few places. If you're looking forvalue, you might want to start there.</p><p><blockquote>话虽如此，我关注的一些聪明人在很多地方都看到了低估（至少相对于美国）。如果你在寻找价值，你可能想从那里开始。</blockquote></p><p> <b>The Great Reset: The Collapse of the Biggest Bubble in History</b></p><p><blockquote><b>大重置：历史上最大泡沫的崩溃</b></blockquote></p><p> <i>New York Times</i>&nbsp;best seller and renowned financial expert John Mauldin predicts an unprecedented financial crisis that could be triggered in the next five years. Most investors seem completely unaware of the relentless pressure that’s building right now.&nbsp;</p><p><blockquote><i>纽约时报</i>畅销书、著名金融专家约翰·莫尔丁预测，未来五年可能会引发一场前所未有的金融危机。大多数投资者似乎完全没有意识到目前正在积聚的无情压力。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Isn't Your Father's Overvalued Market<blockquote>这不是你父亲高估的市场</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\">\nThis Isn't Your Father's Overvalued Market<blockquote>这不是你父亲高估的市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-03-16 20:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Many analysts contend that currentstock valuationsresemble the dot-com era. You can see it visually at CurrentMarketValuation.com. Some highlights...</p><p><blockquote>许多分析师认为，当前的股票估值类似于互联网时代。你可以在CurrentMarketValuation.com直观地看到它。一些亮点...</blockquote></p><p> The classic&nbsp;<b>“Buffett Indicator”</b>&nbsp;certainly seems to be in nosebleed territory. Notice that the valuations in 1966, the beginning of a long-term bear market, were also high.</p><p><blockquote>经典<b>“巴菲特指标”</b>看起来肯定是在流鼻血的领域。请注意，1966年（长期熊市的开始）的估值也很高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/84ead1c8048f2f837b1f849fee01d477\" tg-width=\"1200\" tg-height=\"592\" referrerpolicy=\"no-referrer\"><i>Source: CurrentMarketValuation.com</i></p><p><blockquote><i>资料来源：CurrentMarketValuation.com</i></blockquote></p><p> Then there is the ever-popular&nbsp;<b>price-to-earnings ratio</b>. Notice by this measure that valuations were not all that stretched in 1966. Yet there still followed a 17-year bear market, as measured from the peak back to where it started.</p><p><blockquote>然后是一直流行的<b>市盈率</b>请注意，根据这一衡量标准，1966年的估值并没有那么高。然而，从峰值到起点衡量，17年的熊市仍然接踵而至。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ad62168f364b6064cebd61dcdba23c5b\" tg-width=\"1200\" tg-height=\"596\"></p><p><blockquote></blockquote></p><p> <i>Source: CurrentMarketValuation.com</i></p><p><blockquote><i>资料来源：CurrentMarketValuation.com</i></blockquote></p><p> This next one is unusual:&nbsp;<b>valuation as measured by mean reversion</b>.&nbsp;Mean reversion&nbsp;is the fairly unsophisticated concept that \"what goes up must come down.\"</p><p><blockquote>下一个很不寻常：<b>按均值回归计量的估值</b>均值回归是一个相当简单的概念，即“上升的必然下降”。</blockquote></p><p> While the market’s day-to-day movements are chaotic, long-term stockmarket returnstend to follow somewhat predictable upward trends. But they can also deviate from the trend for years or even decades.</p><p><blockquote>虽然市场的日常走势很混乱，但股市的长期回报往往会遵循某种可预测的上升趋势。但它们也可能在数年甚至数十年内偏离趋势。</blockquote></p><p> This isn’t a trading strategy. But it's still a useful indicator of overall market valuation relative to the past.</p><p><blockquote>这不是交易策略。但相对于过去，它仍然是整体市场估值的有用指标。</blockquote></p><p> <b>What's Different Now</b></p><p><blockquote><b>现在有什么不同</b></blockquote></p><p> This is not your father’s or your grandfather’s (if he was alive in 1929) overvalued market.</p><p><blockquote>这不是你父亲或你祖父（如果他在1929年还活着）的高估市场。</blockquote></p><p> There are two major differences…</p><p><blockquote>有两个主要区别……</blockquote></p><p> First, in the dot-com era, the Federal Reserve had let loose the dogs of easymonetary policygoing into the Y2K event. That was appropriate given the uncertainty, but it clearly helped send already overvalued markets to extremes.</p><p><blockquote>首先，在互联网时代，美联储在千年虫事件中放松了宽松货币政策。考虑到不确定性，这是适当的，但它显然有助于将已经被高估的市场推向极端。</blockquote></p><p> We had day traders piling into anything that looked like an internet stock, speculations, really easy money, and so forth. Then after January 1 passed uneventfully, Greenspan appropriately reversed the Fed’s monetary policy. Oops.</p><p><blockquote>我们有日内交易者涌入任何看起来像互联网股票、投机、真正轻松赚钱等等的东西。然后在1月1日平安无事地过去后，格林斯潘适当地扭转了美联储的货币政策。哎呀。</blockquote></p><p> And now we have enormous federal government stimulus, soon to be about 25% of GDP in less than a year. That money ends up somewhere, but&nbsp;its impact is still unclear. There is no historical parallel to consider.</p><p><blockquote>现在我们有了巨大的联邦政府刺激，在不到一年的时间里将达到GDP的25%左右。这笔钱最终会到达某个地方，但其影响仍不清楚。没有历史相似之处需要考虑。</blockquote></p><p> <b>Overvalued Market... But Perhaps Not Overpriced</b></p><p><blockquote><b>高估的市场...但也许价格并不高</b></blockquote></p><p> Jerome Powell is not Alan Greenspan.</p><p><blockquote>杰罗姆·鲍威尔不是艾伦·格林斯潘。</blockquote></p><p> Powell and his colleagues have made it very clear they will keep monetary policy loose and rates low for a very long time.Inflationis well down their worry list. Their top concern is unemployment,&nbsp;which is indeed a real problem.</p><p><blockquote>鲍威尔和他的同事已经明确表示，他们将在很长一段时间内保持宽松的货币政策和低利率。通货膨胀在他们的担忧清单上名列前茅。他们最关心的是失业，这确实是一个现实问题。</blockquote></p><p> The Fed is telling us it will let inflation get to 3% or more. They are looking at the average inflation over time, which means they can justify doing anything they want.</p><p><blockquote>美联储告诉我们，它将让通胀率达到3%或更高。他们正在关注一段时间内的平均通货膨胀率，这意味着他们可以证明做任何他们想做的事情是合理的。</blockquote></p><p> What they want is lowrates, even if it overheats the economy, until unemployment returns to where it was before the pandemic.</p><p><blockquote>他们想要的是降低利率，即使这会使经济过热，直到失业率回到大流行之前的水平。</blockquote></p><p> If they really mean that, then we are going to have low rates for a very long time, as unemployment is a bigger problem than most people think.</p><p><blockquote>如果他们真的是这个意思，那么我们将在很长一段时间内保持低利率，因为失业是一个比大多数人想象的更大的问题。</blockquote></p><p> It also means, maybe not coincidentally, the US Treasury will find it easier to refinance an&nbsp;ever-increasing federal deficit.</p><p><blockquote>这也意味着，也许并非巧合的是，美国财政部将发现为不断增加的联邦赤字再融资变得更加容易。</blockquote></p><p> But persistent low rates might mean stock market valuations are actually in the fair value range.</p><p><blockquote>但持续的低利率可能意味着股市估值实际上处于公允价值范围内。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cef10f8c196ce434aeffb1b04642aa49\" tg-width=\"1200\" tg-height=\"596\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Look at this chart showing S&amp;P 500 value relative to interest rates. Interest rates are 1.6 standard deviations below the trendline.</p><p><blockquote>看看这张显示标普500价值相对于利率的图表。利率比趋势线低1.6个标准差。</blockquote></p><p> That suggests that the S&amp;P 500 may not be so overpriced.</p><p><blockquote>这表明标普500的价格可能并没有那么高。</blockquote></p><p> While valuations tell us nothing about short-term market moves, they are actually pretty good at longer-term returns.</p><p><blockquote>虽然估值没有告诉我们任何关于短期市场走势的信息，但它们实际上在长期回报方面非常出色。</blockquote></p><p> That being said, some smart people I follow see pockets of undervaluation (at least relative to the US) in more than a few places. If you're looking forvalue, you might want to start there.</p><p><blockquote>话虽如此，我关注的一些聪明人在很多地方都看到了低估（至少相对于美国）。如果你在寻找价值，你可能想从那里开始。</blockquote></p><p> <b>The Great Reset: The Collapse of the Biggest Bubble in History</b></p><p><blockquote><b>大重置：历史上最大泡沫的崩溃</b></blockquote></p><p> <i>New York Times</i>&nbsp;best seller and renowned financial expert John Mauldin predicts an unprecedented financial crisis that could be triggered in the next five years. Most investors seem completely unaware of the relentless pressure that’s building right now.&nbsp;</p><p><blockquote><i>纽约时报</i>畅销书、著名金融专家约翰·莫尔丁预测，未来五年可能会引发一场前所未有的金融危机。大多数投资者似乎完全没有意识到目前正在积聚的无情压力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/news/2021-03-15/isnt-your-fathers-overvalued-market\">zerohedge</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.zerohedge.com/news/2021-03-15/isnt-your-fathers-overvalued-market","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199153511","content_text":"Many analysts contend that currentstock valuationsresemble the dot-com era. You can see it visually at CurrentMarketValuation.com. Some highlights...\nThe classic “Buffett Indicator” certainly seems to be in nosebleed territory. Notice that the valuations in 1966, the beginning of a long-term bear market, were also high.\nSource: CurrentMarketValuation.com\nThen there is the ever-popular price-to-earnings ratio. Notice by this measure that valuations were not all that stretched in 1966. Yet there still followed a 17-year bear market, as measured from the peak back to where it started.\n\nSource: CurrentMarketValuation.com\nThis next one is unusual: valuation as measured by mean reversion. Mean reversion is the fairly unsophisticated concept that \"what goes up must come down.\"\nWhile the market’s day-to-day movements are chaotic, long-term stockmarket returnstend to follow somewhat predictable upward trends. But they can also deviate from the trend for years or even decades.\nThis isn’t a trading strategy. But it's still a useful indicator of overall market valuation relative to the past.\nWhat's Different Now\nThis is not your father’s or your grandfather’s (if he was alive in 1929) overvalued market.\nThere are two major differences…\nFirst, in the dot-com era, the Federal Reserve had let loose the dogs of easymonetary policygoing into the Y2K event. That was appropriate given the uncertainty, but it clearly helped send already overvalued markets to extremes.\nWe had day traders piling into anything that looked like an internet stock, speculations, really easy money, and so forth. Then after January 1 passed uneventfully, Greenspan appropriately reversed the Fed’s monetary policy. Oops.\nAnd now we have enormous federal government stimulus, soon to be about 25% of GDP in less than a year. That money ends up somewhere, but its impact is still unclear. There is no historical parallel to consider.\nOvervalued Market... But Perhaps Not Overpriced\nJerome Powell is not Alan Greenspan.\nPowell and his colleagues have made it very clear they will keep monetary policy loose and rates low for a very long time.Inflationis well down their worry list. Their top concern is unemployment, which is indeed a real problem.\nThe Fed is telling us it will let inflation get to 3% or more. They are looking at the average inflation over time, which means they can justify doing anything they want.\nWhat they want is lowrates, even if it overheats the economy, until unemployment returns to where it was before the pandemic.\nIf they really mean that, then we are going to have low rates for a very long time, as unemployment is a bigger problem than most people think.\nIt also means, maybe not coincidentally, the US Treasury will find it easier to refinance an ever-increasing federal deficit.\nBut persistent low rates might mean stock market valuations are actually in the fair value range.\n\nLook at this chart showing S&P 500 value relative to interest rates. Interest rates are 1.6 standard deviations below the trendline.\nThat suggests that the S&P 500 may not be so overpriced.\nWhile valuations tell us nothing about short-term market moves, they are actually pretty good at longer-term returns.\nThat being said, some smart people I follow see pockets of undervaluation (at least relative to the US) in more than a few places. If you're looking forvalue, you might want to start there.\nThe Great Reset: The Collapse of the Biggest Bubble in History\nNew York Times best seller and renowned financial expert John Mauldin predicts an unprecedented financial crisis that could be triggered in the next five years. Most investors seem completely unaware of the relentless pressure that’s building right now.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":495,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}