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MonaMaMa

MonaMaMa

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2021-08-31

Need to correct at some point

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2021-07-15

Alibaba still on sale. Great value.Compliance with Chinese Government will put it in good stead

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2021-06-30

Blackberry coming soonBBBY just moved this morning AMC may have selling pressure towards market close ....

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2021-09-28

Agree

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2021-06-29

Why Nio? Not gme and even better tier meme like blackberry, bbby and kossHmmm?

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2021-08-19

Supply chain overhang will persist for a while

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2021-07-21

I like intel strong franchise and chevron potential

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2021-06-28

Blackberry is a laggard

Meme stocks are blazing hot, once again.<blockquote>模因股票再次炙手可热。</blockquote>

2021-10-12

Lovely

Solar industry stocks jumped in morning trading<blockquote>太阳能行业股票早盘上涨</blockquote>

2021-08-14

Nice

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What It Means for the Fed—and Biden.<blockquote>通胀数据和预期一样糟糕。这对美联储和拜登意味着什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190592406","media":"Barrons","summary":"Consumer prices rose 0.8% in November from a month earlier, and the year-over-year rate surged to 6.","content":"<p>Consumer prices rose 0.8% in November from a month earlier, and the year-over-year rate surged to 6.8%, the fastest annual pace since 1982.</p><p><blockquote>11月份消费者价格环比上涨0.8%，同比涨幅飙升至6.8%，为1982年以来最快的年度涨幅。</blockquote></p><p> The data puts inflation at a level widely expected to prompt the Federal Reserve to move more quickly to tighten monetary policy.&nbsp;It could also hamper President Joe Biden’s goal of passing a multitrillion-dollar social spending package through Congress before the end of the year, given key lawmakers’ concerns over rising prices.</p><p><blockquote>该数据使通胀处于普遍预期的水平，将促使美联储更快地收紧货币政策。鉴于主要议员对物价上涨的担忧，这也可能阻碍总统乔·拜登在年底前在国会通过数万亿美元社会支出计划的目标。</blockquote></p><p> Economists had expected a 0.7% rise over the month and a 6.7% increase year over year. The November data shows a slight slowdown in the monthly pace of price increases from a 0.9% rate the month before. But the 6.8% year-over-year rise marks a big jump in the annual rate, which was 6.2% in October.</p><p><blockquote>经济学家此前预计本月增长0.7%，同比增长6.7%。11月份的数据显示，月度价格上涨速度较上月的0.9%略有放缓。但6.8%的同比增长标志着年率大幅跃升，10月份为6.2%。</blockquote></p><p> Although the numbers were higher than economists had penciled in, the initial market reaction suggests the rate of price increases weren’t as bad as some investors may have feared. Bond yields dropped initially, though they soon began to bounce back, and stock-index futures jumped immediately after the data landed. Some 20 minutes after the report, futures on the&nbsp;S&amp;P 500&nbsp;were 0.8% higher.</p><p><blockquote>尽管这些数字高于经济学家的预期，但最初的市场反应表明，价格上涨的速度并不像一些投资者担心的那么糟糕。债券收益率最初下降，但很快开始反弹，数据公布后股指期货立即上涨。报告发布后约20分钟，标准普尔500指数期货上涨0.8%。</blockquote></p><p> The uptick in the inflation rate in November was “the result of broad increases in most component indexes,” the Labor Department said.</p><p><blockquote>劳工部表示，11月份通胀率的上升是“大多数构成指数普遍上涨的结果”。</blockquote></p><p> That shows that inflation is spreading beyond the handful of key pandemic-affected sectors that saw the most significant increases this summer, and could be more persistent than initially anticipated.Rising prices for gasoline, shelter, food, used cars and trucks, and new cars were some of the largest contributors to the overall headline increase.</p><p><blockquote>这表明通胀正在蔓延到今年夏天涨幅最大的少数受疫情影响的关键行业之外，并且可能比最初预期的更加持久。汽油、住房、食品、二手车和卡车以及新车价格的上涨是整体整体上涨的最大贡献者。</blockquote></p><p> Excluding the more volatile food and energy indexes, the core consumer-price index remained hot. Core CPI rose 0.5% in November from the month before, and the annual rate stands at 4.9%, in line with expectations. The food index rose 6.1% over the year, while the energy index surged 33.3%. Both changes are the largest annual increases in each sector in at least 13 years, the Labor Department said.</p><p><blockquote>剔除波动较大的食品和能源指数，核心消费者价格指数依然火爆。11月核心CPI环比上涨0.5%，年率为4.9%，符合预期。食品指数全年上涨6.1%，能源指数飙升33.3%。劳工部表示，这两项变化都是至少13年来每个行业最大的年度增幅。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Inflation Data Was as Bad as Expected. What It Means for the Fed—and Biden.<blockquote>通胀数据和预期一样糟糕。这对美联储和拜登意味着什么。</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\">\nThe Inflation Data Was as Bad as Expected. What It Means for the Fed—and Biden.<blockquote>通胀数据和预期一样糟糕。这对美联储和拜登意味着什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-12-10 22:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Consumer prices rose 0.8% in November from a month earlier, and the year-over-year rate surged to 6.8%, the fastest annual pace since 1982.</p><p><blockquote>11月份消费者价格环比上涨0.8%，同比涨幅飙升至6.8%，为1982年以来最快的年度涨幅。</blockquote></p><p> The data puts inflation at a level widely expected to prompt the Federal Reserve to move more quickly to tighten monetary policy.&nbsp;It could also hamper President Joe Biden’s goal of passing a multitrillion-dollar social spending package through Congress before the end of the year, given key lawmakers’ concerns over rising prices.</p><p><blockquote>该数据使通胀处于普遍预期的水平，将促使美联储更快地收紧货币政策。鉴于主要议员对物价上涨的担忧，这也可能阻碍总统乔·拜登在年底前在国会通过数万亿美元社会支出计划的目标。</blockquote></p><p> Economists had expected a 0.7% rise over the month and a 6.7% increase year over year. The November data shows a slight slowdown in the monthly pace of price increases from a 0.9% rate the month before. But the 6.8% year-over-year rise marks a big jump in the annual rate, which was 6.2% in October.</p><p><blockquote>经济学家此前预计本月增长0.7%，同比增长6.7%。11月份的数据显示，月度价格上涨速度较上月的0.9%略有放缓。但6.8%的同比增长标志着年率大幅跃升，10月份为6.2%。</blockquote></p><p> Although the numbers were higher than economists had penciled in, the initial market reaction suggests the rate of price increases weren’t as bad as some investors may have feared. Bond yields dropped initially, though they soon began to bounce back, and stock-index futures jumped immediately after the data landed. Some 20 minutes after the report, futures on the&nbsp;S&amp;P 500&nbsp;were 0.8% higher.</p><p><blockquote>尽管这些数字高于经济学家的预期，但最初的市场反应表明，价格上涨的速度并不像一些投资者担心的那么糟糕。债券收益率最初下降，但很快开始反弹，数据公布后股指期货立即上涨。报告发布后约20分钟，标准普尔500指数期货上涨0.8%。</blockquote></p><p> The uptick in the inflation rate in November was “the result of broad increases in most component indexes,” the Labor Department said.</p><p><blockquote>劳工部表示，11月份通胀率的上升是“大多数构成指数普遍上涨的结果”。</blockquote></p><p> That shows that inflation is spreading beyond the handful of key pandemic-affected sectors that saw the most significant increases this summer, and could be more persistent than initially anticipated.Rising prices for gasoline, shelter, food, used cars and trucks, and new cars were some of the largest contributors to the overall headline increase.</p><p><blockquote>这表明通胀正在蔓延到今年夏天涨幅最大的少数受疫情影响的关键行业之外，并且可能比最初预期的更加持久。汽油、住房、食品、二手车和卡车以及新车价格的上涨是整体整体上涨的最大贡献者。</blockquote></p><p> Excluding the more volatile food and energy indexes, the core consumer-price index remained hot. Core CPI rose 0.5% in November from the month before, and the annual rate stands at 4.9%, in line with expectations. The food index rose 6.1% over the year, while the energy index surged 33.3%. Both changes are the largest annual increases in each sector in at least 13 years, the Labor Department said.</p><p><blockquote>剔除波动较大的食品和能源指数，核心消费者价格指数依然火爆。11月核心CPI环比上涨0.5%，年率为4.9%，符合预期。食品指数全年上涨6.1%，能源指数飙升33.3%。劳工部表示，这两项变化都是至少13年来每个行业最大的年度增幅。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/cpi-inflation-report-data-november-51639083602?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/cpi-inflation-report-data-november-51639083602?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190592406","content_text":"Consumer prices rose 0.8% in November from a month earlier, and the year-over-year rate surged to 6.8%, the fastest annual pace since 1982.\nThe data puts inflation at a level widely expected to prompt the Federal Reserve to move more quickly to tighten monetary policy. It could also hamper President Joe Biden’s goal of passing a multitrillion-dollar social spending package through Congress before the end of the year, given key lawmakers’ concerns over rising prices.\nEconomists had expected a 0.7% rise over the month and a 6.7% increase year over year. The November data shows a slight slowdown in the monthly pace of price increases from a 0.9% rate the month before. But the 6.8% year-over-year rise marks a big jump in the annual rate, which was 6.2% in October.\nAlthough the numbers were higher than economists had penciled in, the initial market reaction suggests the rate of price increases weren’t as bad as some investors may have feared. Bond yields dropped initially, though they soon began to bounce back, and stock-index futures jumped immediately after the data landed. Some 20 minutes after the report, futures on the S&P 500 were 0.8% higher.\nThe uptick in the inflation rate in November was “the result of broad increases in most component indexes,” the Labor Department said.\nThat shows that inflation is spreading beyond the handful of key pandemic-affected sectors that saw the most significant increases this summer, and could be more persistent than initially anticipated.Rising prices for gasoline, shelter, food, used cars and trucks, and new cars were some of the largest contributors to the overall headline increase.\nExcluding the more volatile food and energy indexes, the core consumer-price index remained hot. Core CPI rose 0.5% in November from the month before, and the annual rate stands at 4.9%, in line with expectations. The food index rose 6.1% over the year, while the energy index surged 33.3%. Both changes are the largest annual increases in each sector in at least 13 years, the Labor Department said.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":3813,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":826451734,"gmtCreate":1634048755686,"gmtModify":1634048820959,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Lovely","listText":"Lovely","text":"Lovely","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/826451734","repostId":"1190786641","repostType":4,"repost":{"id":"1190786641","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":1634047009,"share":"https://www.laohu8.com/m/news/1190786641?lang=zh_CN&edition=full","pubTime":"2021-10-12 21:56","market":"us","language":"en","title":"Solar industry stocks jumped in morning trading<blockquote>太阳能行业股票早盘上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190786641","media":"Tiger Newspress","summary":"Solar industry stocks jumped in Monday morning trading.Daqo New,SunPower,JinkoSolar,Sunrun,Maxeon So","content":"<p>Solar industry stocks jumped in Monday morning trading.Daqo New,SunPower,JinkoSolar,Sunrun,Maxeon Solar Technologies,Solaredge,ReneSola&nbsp;and&nbsp;Enphase Energy&nbsp;climbed between 3% and 7%.</p><p><blockquote>太阳能行业股票在周一早盘交易中上涨。大全新、SunPower、晶科能源、Sunrun、Maxeon Solar Technologies、Solaredge、昱辉阳光和Enphase Energy上涨3%至7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/781eb6a13c611e315e4d8ffc03328baf\" tg-width=\"409\" tg-height=\"725\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Solar industry stocks jumped in morning trading<blockquote>太阳能行业股票早盘上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSolar industry stocks jumped in morning trading<blockquote>太阳能行业股票早盘上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-12 21:56</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Solar industry stocks jumped in Monday morning trading.Daqo New,SunPower,JinkoSolar,Sunrun,Maxeon Solar Technologies,Solaredge,ReneSola&nbsp;and&nbsp;Enphase Energy&nbsp;climbed between 3% and 7%.</p><p><blockquote>太阳能行业股票在周一早盘交易中上涨。大全新、SunPower、晶科能源、Sunrun、Maxeon Solar Technologies、Solaredge、昱辉阳光和Enphase Energy上涨3%至7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/781eb6a13c611e315e4d8ffc03328baf\" tg-width=\"409\" tg-height=\"725\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JKS":"晶科能源","ENPH":"Enphase Energy","RUN":"Sunrun Inc.","MAXN":"Maxeon Solar Technologies Ltd","FSLR":"第一太阳能","DQ":"大全新能源","HASI":"Hannon Armstrong Sustainable Inf","SEDG":"SolarEdge Technologies, Inc.","SPWR":"Sunpower Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190786641","content_text":"Solar industry stocks jumped in Monday morning trading.Daqo New,SunPower,JinkoSolar,Sunrun,Maxeon Solar Technologies,Solaredge,ReneSola and Enphase Energy climbed between 3% and 7%.","news_type":1,"symbols_score_info":{"FSLR":0.9,"JKS":0.9,"MAXN":0.9,"SPWR":0.9,"NOVA":0.9,"SEDG":0.9,"RUN":0.9,"SOL":0.9,"SPI":0.9,"ENPH":0.9,"DQ":0.9,"HASI":0.9}},"isVote":1,"tweetType":1,"viewCount":2828,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862379674,"gmtCreate":1632840091447,"gmtModify":1632840099116,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Agree","listText":"Agree","text":"Agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/862379674","repostId":"2170672988","repostType":4,"isVote":1,"tweetType":1,"viewCount":2811,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866106930,"gmtCreate":1632743041020,"gmtModify":1632798181258,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Safe haven?","listText":"Safe haven?","text":"Safe haven?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/866106930","repostId":"1145694120","repostType":4,"isVote":1,"tweetType":1,"viewCount":2821,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":818502894,"gmtCreate":1630417654918,"gmtModify":1631889912796,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Need to correct at some point","listText":"Need to correct at some point","text":"Need to correct at some point","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/818502894","repostId":"1155360019","repostType":4,"isVote":1,"tweetType":1,"viewCount":2348,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837312735,"gmtCreate":1629856990327,"gmtModify":1631889912800,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"BB","listText":"BB","text":"BB","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/837312735","repostId":"1128025331","repostType":4,"isVote":1,"tweetType":1,"viewCount":2065,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831220177,"gmtCreate":1629330914899,"gmtModify":1631889912805,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Supply chain overhang will persist for a while","listText":"Supply chain overhang will persist for a while","text":"Supply chain overhang will persist for a while","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/831220177","repostId":"1157388681","repostType":4,"isVote":1,"tweetType":1,"viewCount":2295,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833214499,"gmtCreate":1629245034211,"gmtModify":1631889912806,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Neil has pretty good sense of market when he was at pimco","listText":"Neil has pretty good sense of market when he was at pimco","text":"Neil has pretty good sense of market when he was at pimco","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/833214499","repostId":"2160978315","repostType":4,"repost":{"id":"2160978315","kind":"highlight","pubTimestamp":1629243603,"share":"https://www.laohu8.com/m/news/2160978315?lang=zh_CN&edition=full","pubTime":"2021-08-18 07:40","market":"fut","language":"en","title":"Crypto is '95% fraud, hype, noise and confusion,' says Fed's Neel Kashkari<blockquote>美联储尼尔·卡什卡里(Neel Kashkari)表示，加密货币“95%是欺诈、炒作、噪音和混乱”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2160978315","media":"MarketWatch","summary":"Minneapolis Federal Reserve President Neel Kashkari on Tuesday had some harsh words for the nascent ","content":"<p>Minneapolis Federal Reserve President Neel Kashkari on Tuesday had some harsh words for the nascent crypto asset market.</p><p><blockquote>明尼阿波利斯美联储主席尼尔·卡什卡利周二对新生的加密资产市场发表了一些严厉的言论。</blockquote></p><p> The central banker said he doesn't see any use case for bitcoin , the world's No. 1 crypto, and referred to the broader digital-asset sector as one that is largely tied to fraud and hype.</p><p><blockquote>这位央行行长表示，他认为世界第一大加密货币比特币没有任何用例，并将更广泛的数字资产行业称为主要与欺诈和炒作有关的行业。</blockquote></p><p> \"Cryptocurrency is 95% fraud, hype, noise and confusion,\" Kashkari said, speaking at the Pacific Northwest Economic Regional Annual Summit in Big Sky, Mont.</p><p><blockquote>“加密货币95%是欺诈、炒作、噪音和混乱，”卡什卡利在蒙大拿州Big Sky举行的太平洋西北经济区年度峰会上发表讲话时表示。</blockquote></p><p> Bitcoin prices were at $44,993, down 2.4% on CoinDesk on Tuesday. Meanwhile, Ether on the Ethereum blockchain was changing hands at $3,069, off 3%, while meme coin dogecoin was trading at around 30 cents, down 5.1%.</p><p><blockquote>周二CoinDesk上的比特币价格为44,993美元，下跌2.4%。与此同时，以太币区块链上的以太币易手价格为3,069美元，下跌3%，而模因币狗狗币的交易价格约为30美分，下跌5.1%。</blockquote></p><p> Crypto has gained traction among institutional investors in 2021 but is still viewed as a speculative and highly risky trade compared with traditional markets.</p><p><blockquote>2021年，加密货币在机构投资者中获得了关注，但与传统市场相比，仍被视为投机性和高风险交易。</blockquote></p><p> Kashkari also offered some of his views on monetary policy plans, noting that he still sees a \"a lot of slack\" in the U.S. labor market, and suggesting that he might need a couple of more strong jobs reports before he is inclined to support a push to scale back the central bank's monthly purchases of $120 billion in Treasurys and mortgage-backed securities.</p><p><blockquote>卡什卡利还提出了他对货币政策计划的一些看法，指出他仍然认为美国劳动力市场“非常疲软”，并表示他可能需要几份更强劲的就业报告才能倾向于支持削减央行每月购买1200亿美元国债和抵押贷款支持证券的规模。</blockquote></p><p> The Minneapolis Fed president's comments come amid growing talk about the timing of pulling back the Fed's COVID-era accommodations and eventually raising interest rates as the economy attempts a recovery from the pandemic.</p><p><blockquote>明尼阿波利斯联储主席发表此番言论之际，人们越来越多地谈论随着经济试图从疫情复苏，美联储何时撤回新冠疫情时期的宽松政策，并最终加息。</blockquote></p><p> On Tuesday , the Dow Jones Industrial Average and the S&amp;P 500 index snapped five-session win streaks, with some blaming the day's declines at least partly on growing concerns about a rollback of easy-money policies.</p><p><blockquote>周二，道琼斯工业平均指数和标普500指数结束了五个交易日的连涨，一些人将当天的下跌至少部分归咎于对宽松货币政策回滚的担忧日益加剧。</blockquote></p><p> For his part, Kashkari said that it would be reasonable to start reducing bond-buying by the end of 2021, if the job market cooperates.</p><p><blockquote>卡什卡利则表示，如果就业市场配合，到2021年底开始减少债券购买是合理的。</blockquote></p><p> In July, the U.S. created a robust 943,000 jobs , in what some viewed as a sign that the economic recovery was gaining some steam, despite the latest assault from the delta variant of COVID-19.</p><p><blockquote>7月份，美国创造了943,000个就业岗位，一些人认为这表明尽管受到COVID-19德尔塔变异毒株的最新攻击，但经济复苏正在获得一些动力。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto is '95% fraud, hype, noise and confusion,' says Fed's Neel Kashkari<blockquote>美联储尼尔·卡什卡里(Neel Kashkari)表示，加密货币“95%是欺诈、炒作、噪音和混乱”</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; 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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\">\nCrypto is '95% fraud, hype, noise and confusion,' says Fed's Neel Kashkari<blockquote>美联储尼尔·卡什卡里(Neel Kashkari)表示，加密货币“95%是欺诈、炒作、噪音和混乱”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-18 07:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Minneapolis Federal Reserve President Neel Kashkari on Tuesday had some harsh words for the nascent crypto asset market.</p><p><blockquote>明尼阿波利斯美联储主席尼尔·卡什卡利周二对新生的加密资产市场发表了一些严厉的言论。</blockquote></p><p> The central banker said he doesn't see any use case for bitcoin , the world's No. 1 crypto, and referred to the broader digital-asset sector as one that is largely tied to fraud and hype.</p><p><blockquote>这位央行行长表示，他认为世界第一大加密货币比特币没有任何用例，并将更广泛的数字资产行业称为主要与欺诈和炒作有关的行业。</blockquote></p><p> \"Cryptocurrency is 95% fraud, hype, noise and confusion,\" Kashkari said, speaking at the Pacific Northwest Economic Regional Annual Summit in Big Sky, Mont.</p><p><blockquote>“加密货币95%是欺诈、炒作、噪音和混乱，”卡什卡利在蒙大拿州Big Sky举行的太平洋西北经济区年度峰会上发表讲话时表示。</blockquote></p><p> Bitcoin prices were at $44,993, down 2.4% on CoinDesk on Tuesday. Meanwhile, Ether on the Ethereum blockchain was changing hands at $3,069, off 3%, while meme coin dogecoin was trading at around 30 cents, down 5.1%.</p><p><blockquote>周二CoinDesk上的比特币价格为44,993美元，下跌2.4%。与此同时，以太币区块链上的以太币易手价格为3,069美元，下跌3%，而模因币狗狗币的交易价格约为30美分，下跌5.1%。</blockquote></p><p> Crypto has gained traction among institutional investors in 2021 but is still viewed as a speculative and highly risky trade compared with traditional markets.</p><p><blockquote>2021年，加密货币在机构投资者中获得了关注，但与传统市场相比，仍被视为投机性和高风险交易。</blockquote></p><p> Kashkari also offered some of his views on monetary policy plans, noting that he still sees a \"a lot of slack\" in the U.S. labor market, and suggesting that he might need a couple of more strong jobs reports before he is inclined to support a push to scale back the central bank's monthly purchases of $120 billion in Treasurys and mortgage-backed securities.</p><p><blockquote>卡什卡利还提出了他对货币政策计划的一些看法，指出他仍然认为美国劳动力市场“非常疲软”，并表示他可能需要几份更强劲的就业报告才能倾向于支持削减央行每月购买1200亿美元国债和抵押贷款支持证券的规模。</blockquote></p><p> The Minneapolis Fed president's comments come amid growing talk about the timing of pulling back the Fed's COVID-era accommodations and eventually raising interest rates as the economy attempts a recovery from the pandemic.</p><p><blockquote>明尼阿波利斯联储主席发表此番言论之际，人们越来越多地谈论随着经济试图从疫情复苏，美联储何时撤回新冠疫情时期的宽松政策，并最终加息。</blockquote></p><p> On Tuesday , the Dow Jones Industrial Average and the S&amp;P 500 index snapped five-session win streaks, with some blaming the day's declines at least partly on growing concerns about a rollback of easy-money policies.</p><p><blockquote>周二，道琼斯工业平均指数和标普500指数结束了五个交易日的连涨，一些人将当天的下跌至少部分归咎于对宽松货币政策回滚的担忧日益加剧。</blockquote></p><p> For his part, Kashkari said that it would be reasonable to start reducing bond-buying by the end of 2021, if the job market cooperates.</p><p><blockquote>卡什卡利则表示，如果就业市场配合，到2021年底开始减少债券购买是合理的。</blockquote></p><p> In July, the U.S. created a robust 943,000 jobs , in what some viewed as a sign that the economic recovery was gaining some steam, despite the latest assault from the delta variant of COVID-19.</p><p><blockquote>7月份，美国创造了943,000个就业岗位，一些人认为这表明尽管受到COVID-19德尔塔变异毒株的最新攻击，但经济复苏正在获得一些动力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/crypto-is-95-fraud-hype-noise-and-confusion-says-feds-neel-kashkari-11629236416?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"比特币ETF-Grayscale"},"source_url":"https://www.marketwatch.com/story/crypto-is-95-fraud-hype-noise-and-confusion-says-feds-neel-kashkari-11629236416?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160978315","content_text":"Minneapolis Federal Reserve President Neel Kashkari on Tuesday had some harsh words for the nascent crypto asset market.\nThe central banker said he doesn't see any use case for bitcoin , the world's No. 1 crypto, and referred to the broader digital-asset sector as one that is largely tied to fraud and hype.\n\"Cryptocurrency is 95% fraud, hype, noise and confusion,\" Kashkari said, speaking at the Pacific Northwest Economic Regional Annual Summit in Big Sky, Mont.\nBitcoin prices were at $44,993, down 2.4% on CoinDesk on Tuesday. Meanwhile, Ether on the Ethereum blockchain was changing hands at $3,069, off 3%, while meme coin dogecoin was trading at around 30 cents, down 5.1%.\nCrypto has gained traction among institutional investors in 2021 but is still viewed as a speculative and highly risky trade compared with traditional markets.\nKashkari also offered some of his views on monetary policy plans, noting that he still sees a \"a lot of slack\" in the U.S. labor market, and suggesting that he might need a couple of more strong jobs reports before he is inclined to support a push to scale back the central bank's monthly purchases of $120 billion in Treasurys and mortgage-backed securities.\nThe Minneapolis Fed president's comments come amid growing talk about the timing of pulling back the Fed's COVID-era accommodations and eventually raising interest rates as the economy attempts a recovery from the pandemic.\nOn Tuesday , the Dow Jones Industrial Average and the S&P 500 index snapped five-session win streaks, with some blaming the day's declines at least partly on growing concerns about a rollback of easy-money policies.\nFor his part, Kashkari said that it would be reasonable to start reducing bond-buying by the end of 2021, if the job market cooperates.\nIn July, the U.S. created a robust 943,000 jobs , in what some viewed as a sign that the economic recovery was gaining some steam, despite the latest assault from the delta variant of COVID-19.","news_type":1,"symbols_score_info":{"XBTmain":0.9,"MBTmain":0.9,"GBTC":0.9,"BTCmain":0.9}},"isVote":1,"tweetType":1,"viewCount":2064,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833218081,"gmtCreate":1629244832943,"gmtModify":1631889912808,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Buy the dip","listText":"Buy the dip","text":"Buy the dip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/833218081","repostId":"2160880977","repostType":4,"isVote":1,"tweetType":1,"viewCount":2657,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839630469,"gmtCreate":1629155660751,"gmtModify":1631889912812,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Earnings will validate","listText":"Earnings will validate","text":"Earnings will validate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/839630469","repostId":"1132782904","repostType":4,"repost":{"id":"1132782904","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":1629154076,"share":"https://www.laohu8.com/m/news/1132782904?lang=zh_CN&edition=full","pubTime":"2021-08-17 06:47","market":"us","language":"en","title":"Tencent Music earnings beat estimates on subscriber, ad boost<blockquote>腾讯控股音乐因订户和广告增长而盈利超出预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132782904","media":"Tiger Newspress","summary":"(Update: August 16, 2021 at 9:41 a.m. ET)\nTencent Music fell over 8% in morning trading Tuesday.\n\nCh","content":"<p><i>(Update: August 16, 2021 at 9:41 a.m. ET)</i></p><p><blockquote><i>（更新：美国东部时间2021年8月16日上午9:41）</i></blockquote></p><p> <a href=\"https://laohu8.com/S/TME\">Tencent Music</a> fell&nbsp;over&nbsp;8%&nbsp;in&nbsp;morning&nbsp;trading&nbsp;Tuesday.</p><p><blockquote><a href=\"https://laohu8.com/S/TME\">腾讯控股音乐</a>周二早盘下跌超过8%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/04723d8ee28ade3b89d17c69d5941e40\" tg-width=\"1129\" tg-height=\"653\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> China's Tencent Music Entertainment Group(TME.N)beat Wall Street expectations for second-quarter profit on Monday as its advertising business rebounded and more people subscribed to its music streaming platform.</p><p><blockquote>腾讯控股音乐娱乐集团（TME.N）周一公布的第二季度利润超出华尔街预期，因其广告业务反弹，且更多人订阅其音乐流媒体平台。</blockquote></p><p> Paid subscribers for the company's online music service grew by 41% to 66.2 million, thanks to investments in long-form audio and a refreshed music library expanded by licensing deals with Universal Music Group, Sony Music and other labels.</p><p><blockquote>该公司在线音乐服务的付费用户增长了41%，达到6620万，这得益于对长格式音频的投资以及通过与环球音乐集团、索尼音乐和其他唱片公司的许可协议扩大的更新音乐库。</blockquote></p><p> Tencent Music shares were up 3.1% in extended trading. They have lost half of their market value this year due to a ruling that barred the company's parent, Tencent Holdings Ltd, from exclusive music copyright agreements.</p><p><blockquote>腾讯控股音乐股价在盘后交易中上涨3.1%。由于一项禁止该公司母公司腾讯控股控股有限公司签订独家音乐版权协议的裁决，他们今年的市值损失了一半。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f5f85b9406d6ed4f369df89d7ec11fd9\" tg-width=\"899\" tg-height=\"640\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The company said it expected the decision to have some impact on its operations, without specifying a figure.</p><p><blockquote>该公司表示，预计这一决定将对其运营产生一些影响，但没有具体说明具体数字。</blockquote></p><p> Losing exclusive rights means Tencent Music will likely have to redouble efforts to build a more interactive community while facing a challenge from ByteDance that is using Douyin - the Chinese version of TikTok - to promote music backed by sophisticated algorithms.</p><p><blockquote>失去独家版权意味着腾讯控股音乐可能不得不加倍努力建立一个更具互动性的社区，同时面临字节跳动的挑战，字节跳动正在使用抖音（中国版的TikTok）来推广由复杂算法支持的音乐。</blockquote></p><p> Tencent Music's social entertainment services business, which includes karaoke platforms where users can live stream concerts, posted a 7.4% rise in revenue to 5.06 billion yuan in the quarter and accounted for most of its revenue.</p><p><blockquote>腾讯控股音乐的社交娱乐服务业务（包括用户可以直播音乐会的卡拉OK平台）本季度收入增长7.4%至50.6亿元人民币，占其收入的大部分。</blockquote></p><p> Total revenue rose by 15.5% to 8.01 billion yuan ($1.24 billion), but missed a Refinitiv IBES estimate of 8.13 billion yuan.</p><p><blockquote>总收入增长15.5%，达到80.1亿元人民币（12.4亿美元），但低于Refinitiv IBES预期的81.3亿元人民币。</blockquote></p><p> The company earned 0.66 yuan per American depository share on an adjusted basis, more than estimates of 0.62 yuan.</p><p><blockquote>该公司调整后每股美国存托股盈利0.66元，高于预期的0.62元。</blockquote></p><p> ($1 = 6.4742 Chinese yuan renminbi)</p><p><blockquote>（1美元=6.4742人民币）</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>Tencent Music earnings beat estimates on subscriber, ad boost<blockquote>腾讯控股音乐因订户和广告增长而盈利超出预期</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\">\nTencent Music earnings beat estimates on subscriber, ad boost<blockquote>腾讯控股音乐因订户和广告增长而盈利超出预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-17 06:47</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><i>(Update: August 16, 2021 at 9:41 a.m. ET)</i></p><p><blockquote><i>（更新：美国东部时间2021年8月16日上午9:41）</i></blockquote></p><p> <a href=\"https://laohu8.com/S/TME\">Tencent Music</a> fell&nbsp;over&nbsp;8%&nbsp;in&nbsp;morning&nbsp;trading&nbsp;Tuesday.</p><p><blockquote><a href=\"https://laohu8.com/S/TME\">腾讯控股音乐</a>周二早盘下跌超过8%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/04723d8ee28ade3b89d17c69d5941e40\" tg-width=\"1129\" tg-height=\"653\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> China's Tencent Music Entertainment Group(TME.N)beat Wall Street expectations for second-quarter profit on Monday as its advertising business rebounded and more people subscribed to its music streaming platform.</p><p><blockquote>腾讯控股音乐娱乐集团（TME.N）周一公布的第二季度利润超出华尔街预期，因其广告业务反弹，且更多人订阅其音乐流媒体平台。</blockquote></p><p> Paid subscribers for the company's online music service grew by 41% to 66.2 million, thanks to investments in long-form audio and a refreshed music library expanded by licensing deals with Universal Music Group, Sony Music and other labels.</p><p><blockquote>该公司在线音乐服务的付费用户增长了41%，达到6620万，这得益于对长格式音频的投资以及通过与环球音乐集团、索尼音乐和其他唱片公司的许可协议扩大的更新音乐库。</blockquote></p><p> Tencent Music shares were up 3.1% in extended trading. They have lost half of their market value this year due to a ruling that barred the company's parent, Tencent Holdings Ltd, from exclusive music copyright agreements.</p><p><blockquote>腾讯控股音乐股价在盘后交易中上涨3.1%。由于一项禁止该公司母公司腾讯控股控股有限公司签订独家音乐版权协议的裁决，他们今年的市值损失了一半。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f5f85b9406d6ed4f369df89d7ec11fd9\" tg-width=\"899\" tg-height=\"640\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The company said it expected the decision to have some impact on its operations, without specifying a figure.</p><p><blockquote>该公司表示，预计这一决定将对其运营产生一些影响，但没有具体说明具体数字。</blockquote></p><p> Losing exclusive rights means Tencent Music will likely have to redouble efforts to build a more interactive community while facing a challenge from ByteDance that is using Douyin - the Chinese version of TikTok - to promote music backed by sophisticated algorithms.</p><p><blockquote>失去独家版权意味着腾讯控股音乐可能不得不加倍努力建立一个更具互动性的社区，同时面临字节跳动的挑战，字节跳动正在使用抖音（中国版的TikTok）来推广由复杂算法支持的音乐。</blockquote></p><p> Tencent Music's social entertainment services business, which includes karaoke platforms where users can live stream concerts, posted a 7.4% rise in revenue to 5.06 billion yuan in the quarter and accounted for most of its revenue.</p><p><blockquote>腾讯控股音乐的社交娱乐服务业务（包括用户可以直播音乐会的卡拉OK平台）本季度收入增长7.4%至50.6亿元人民币，占其收入的大部分。</blockquote></p><p> Total revenue rose by 15.5% to 8.01 billion yuan ($1.24 billion), but missed a Refinitiv IBES estimate of 8.13 billion yuan.</p><p><blockquote>总收入增长15.5%，达到80.1亿元人民币（12.4亿美元），但低于Refinitiv IBES预期的81.3亿元人民币。</blockquote></p><p> The company earned 0.66 yuan per American depository share on an adjusted basis, more than estimates of 0.62 yuan.</p><p><blockquote>该公司调整后每股美国存托股盈利0.66元，高于预期的0.62元。</blockquote></p><p> ($1 = 6.4742 Chinese yuan renminbi)</p><p><blockquote>（1美元=6.4742人民币）</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TME":"腾讯音乐"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132782904","content_text":"(Update: August 16, 2021 at 9:41 a.m. ET)\nTencent Music fell over 8% in morning trading Tuesday.\n\nChina's Tencent Music Entertainment Group(TME.N)beat Wall Street expectations for second-quarter profit on Monday as its advertising business rebounded and more people subscribed to its music streaming platform.\nPaid subscribers for the company's online music service grew by 41% to 66.2 million, thanks to investments in long-form audio and a refreshed music library expanded by licensing deals with Universal Music Group, Sony Music and other labels.\nTencent Music shares were up 3.1% in extended trading. They have lost half of their market value this year due to a ruling that barred the company's parent, Tencent Holdings Ltd, from exclusive music copyright agreements.\n\nThe company said it expected the decision to have some impact on its operations, without specifying a figure.\nLosing exclusive rights means Tencent Music will likely have to redouble efforts to build a more interactive community while facing a challenge from ByteDance that is using Douyin - the Chinese version of TikTok - to promote music backed by sophisticated algorithms.\nTencent Music's social entertainment services business, which includes karaoke platforms where users can live stream concerts, posted a 7.4% rise in revenue to 5.06 billion yuan in the quarter and accounted for most of its revenue.\nTotal revenue rose by 15.5% to 8.01 billion yuan ($1.24 billion), but missed a Refinitiv IBES estimate of 8.13 billion yuan.\nThe company earned 0.66 yuan per American depository share on an adjusted basis, more than estimates of 0.62 yuan.\n($1 = 6.4742 Chinese yuan renminbi)","news_type":1,"symbols_score_info":{"TME":0.9}},"isVote":1,"tweetType":1,"viewCount":2619,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897400290,"gmtCreate":1628952166610,"gmtModify":1631889912816,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/897400290","repostId":"1167599158","repostType":4,"isVote":1,"tweetType":1,"viewCount":1034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897901270,"gmtCreate":1628865908690,"gmtModify":1631885101500,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"TSMC is in a league of its own. Time will tell","listText":"TSMC is in a league of its own. Time will tell","text":"TSMC is in a league of its own. Time will tell","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897901270","repostId":"1136485652","repostType":2,"repost":{"id":"1136485652","kind":"news","pubTimestamp":1628057471,"share":"https://www.laohu8.com/m/news/1136485652?lang=zh_CN&edition=full","pubTime":"2021-08-04 14:11","market":"us","language":"en","title":"Is Taiwan Semiconductor Stock A Good Long-Term Investment? What To Consider<blockquote>台积电股票是一项好的长期投资吗？要考虑什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1136485652","media":"seekingalpha","summary":"Summary\n\nTSM offers exposure to the growing semiconductor industry in a diversified way, as it will ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>TSM offers exposure to the growing semiconductor industry in a diversified way, as it will benefit from growth at NVIDIA, Apple, and many more.</li>  <li>The company's business model has some disadvantages as well, mainly its relatively high capital requirements that limit its FCF conversion rate.</li>  <li>TSM is trading above its longer-term valuation range, but shares could still deliver attractive returns in the long run.</li> </ul> <b>Article Thesis</b></p><p><blockquote><ul><li>TSM以多元化的方式接触不断增长的半导体行业，因为它将受益于英伟达、苹果等公司的增长。</li><li>该公司的商业模式也有一些缺点，主要是资本要求相对较高，限制了其自由现金流转化率。</li><li>TSM的交易价格高于其长期估值范围，但从长远来看，其股价仍可能带来有吸引力的回报。</li></ul><b>文章论文</b></blockquote></p><p> The semiconductor industry has experienced rapid growth in recent years, and the long-term outlook remains strong as well. Chips are integral for our way of life and for our economy, and Taiwan Semiconductor Manufacturing Company Limited (TSM), as one of the largest manufacturers in the space, is poised to benefit from long-term growth trends. Investors should, apart from the growth prospects, also consider TSM's valuation and the risks for the business. Overall, TSM still seems like a company that could deliver attractive returns in the long run.</p><p><blockquote>半导体行业近年来经历了快速增长，长期前景也依然强劲。芯片是我们生活方式和经济不可或缺的一部分，台积电有限公司(TSM)作为该领域最大的制造商之一，有望从长期增长趋势中受益。除了增长前景外，投资者还应考虑TSM的估值和业务风险。总体而言，从长远来看，TSM似乎仍然是一家能够带来有吸引力回报的公司。</blockquote></p><p> <b>Taiwan Semiconductor As A Play On Global Semiconductor Demand Growth</b></p><p><blockquote><b>台积电对全球半导体需求增长的推动作用</b></blockquote></p><p> Over the last couple of decades, the global semiconductor industry has experienced rapid growth, as chips have become integral for almost everything we do, from work to our personal communication, and even for the way we spend our free time. These trends -- digitalization &amp; technification -- are still in play, and it seems highly unlikely that we will be using fewer technical gadgets and products in a decade or two. In fact, it seems, to me, pretty much certain that our chip usage will grow even more, due to megatrends such as the internet of things, smart products, self-driving cars, wearable tech, and so on. Even trends such as working from home will lead to fewer meetings that will be conducted in-person, which will, in turn, lead to higher demand for at-home technical equipment and processing power in server farms that handle video conferences. New and emerging technologies, such as the&nbsp;Metaverse&nbsp;as the next-generation internet, will require more processing power compared to current technologies as well, which will, in turn, lead to higher chip demand. Overall, the growth outlook for the semiconductor industry is thus strong and will remain strong for a long time, I believe. This does not necessarily mean that every company in this space will grow forever, but it is, of course, better to be active in a high-growth industry rather than a low-growth industry, all else equal.</p><p><blockquote>在过去的几十年里，全球半导体行业经历了快速增长，芯片已经成为我们几乎所有事情不可或缺的一部分，从工作到个人交流，甚至是我们度过空闲时间的方式。这些趋势——数字化和技术化——仍在发挥作用，在一二十年内，我们不太可能使用更少的技术设备和产品。事实上，在我看来，由于物联网、智能产品、自动驾驶汽车、可穿戴技术等大趋势，我们的芯片使用量将会增长更多。即使是在家工作等趋势也会导致面对面举行的会议减少，这反过来又会导致对家庭技术设备和处理视频会议的服务器群的处理能力的更高需求。与当前技术相比，新兴技术（例如作为下一代互联网的元宇宙）也将需要更多的处理能力，这反过来将导致更高的芯片需求。总体而言，我相信半导体行业的增长前景是强劲的，并且将在很长一段时间内保持强劲。这并不一定意味着这个领域的每家公司都会永远增长，但在其他条件相同的情况下，活跃在高增长行业而不是低增长行业当然更好。</blockquote></p><p> Taiwan Semiconductor Manufacturing Company, as the leading contract manufacturer in the world, will benefit from higher demand for contract manufacturing. This, in turn, will be driven by the increasing demand from fabless companies such as NVIDIA (NVDA), AMD (AMD), Apple (AAPL), and many more that are paying TSM to manufacture their semiconductors.</p><p><blockquote>台积电公司作为全球领先的合同制造商，将受益于更高的合同制造需求。反过来，这将受到NVIDIA(NVDA)、AMD(AMD)、苹果(AAPL)等无晶圆厂公司不断增长的需求的推动，这些公司向TSM付费以制造半导体。</blockquote></p><p> Taiwan Semiconductor's business model has the upside of allowing the company to benefit from growing chip demand overall, no matter which individual customer experiences the highest demand growth. On the other hand, there are also downsides to TSM's business model, mainly the fact that the buildout of&nbsp;new plants&nbsp;requires huge capital expenditures:</p><p><blockquote>台积电的商业模式的好处是，无论哪个单个客户的需求增长最高，该公司都可以从整体不断增长的芯片需求中受益。另一方面，TSM的商业模式也存在缺点，主要是新工厂的建设需要巨额资本支出：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5579119980e11c583375bdbd4b054194\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> TSM did generate operating cash flows of $29 billion over the last year, which results in a free cash flow of $9 billion once capital expenditures of $20 billion are subtracted. Net income, over the same time, was $18 billion, which means that TSM's free cash flow conversion rate was rather low, at just 50%. Other semiconductor companies, especially those that operate on a fabless basis, do generate significantly higher FCF relative to their net profits. One should, however, note that not all of TSM's capital expenditures are spent on maintenance projects, and growth spending will lead to higher cash flows at some point in the future. Still, TSM's business model means that its FCF is relatively weak relative to net profits, which limits the company's ability to grow via M&amp;A or to return cash to the company's owners.</p><p><blockquote>TSM去年确实产生了290亿美元的运营现金流，如果减去200亿美元的资本支出，自由现金流将达到90亿美元。同期净利润为180亿美元，这意味着TSM的自由现金流转化率相当低，仅为50%。其他半导体公司，尤其是那些在无晶圆厂基础上运营的公司，相对于净利润，其自由现金流确实要高得多。然而，应该注意的是，并非TSM的所有资本支出都用于维护项目，增长支出将在未来某个时候导致更高的现金流。尽管如此，TSM的商业模式意味着其自由现金流相对于净利润相对较弱，这限制了该公司通过并购实现增长或向公司所有者返还现金的能力。</blockquote></p><p> <b>Is TSM Stock Overvalued?</b></p><p><blockquote><b>TSM股票是否被高估？</b></blockquote></p><p></p><p> Taiwan Semiconductor Manufacturing Company has seen its shares rise by 45% over the last year, which may lead to questions about its current valuation. It should, however, be noted that this is not that much more than the returns by the broad market over the same time frame, as the S&amp;P 500 index (SPY) is up 35% over the last twelve months. TSM's stock trades significantly below the all-time high that was hit in early 2021 at $142, shares have declined by close to 20% over the last couple of months. Based on current earnings per share estimates for this fiscal year, TSM trades at 27x net profits, which is neither an overly high valuation nor an especially low valuation in absolute terms. On a relative basis, TSM looks significantly more expensive than it used to be:</p><p><blockquote>台积电公司的股价去年上涨了45%，这可能会引发人们对其当前估值的质疑。然而，应该指出的是，这并不比同期大盘的回报高多少，因为标普500指数（SPDR标普500指数ETF）在过去12个月内上涨了35%。TSM的股价远低于2021年初创下的142美元的历史高点，过去几个月股价下跌了近20%。根据目前对本财年每股收益的预测，TSM的交易价格是净利润的27倍，从绝对值来看，这既不是过高的估值，也不是特别低的估值。相对而言，TSM看起来比以前贵得多：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3630fc05937b218e3c5522064b623da8\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> In the above chart, we see that TSM was historically valued at 17x-23x its net profits, on average. At current prices, TSM trades about 20% above the 3-year median earnings multiple, and at a quite large 60% premium compared to the 10-year median. One can, of course, note that multiple expansion relative to the 10-year median is justified -- interest rates are ultra-low today, TSM's scale has improved and its moat has grown, and shares were arguably too cheap over much of the last decade. I would thus not call TSM overly expensive today, but it is still noteworthy that the company trades at a pretty clear premium compared to how shares were valued in the past.</p><p><blockquote>在上图中，我们看到TSM的历史平均估值为净利润的17倍至23倍。按目前价格计算，TSM的交易价格比3年市盈率中位数高出约20%，与10年市盈率中位数相比溢价60%。当然，人们可以注意到，相对于10年期中位数的倍数扩张是合理的——如今利率超低，TSM的规模有所提高，护城河也有所扩大，而且在过去的大部分时间里，股价可以说太便宜了。十年。因此，我不认为看涨期权TSM今天过于昂贵，但仍然值得注意的是，与过去的股票估值相比，该公司的交易价格相当明显。</blockquote></p><p> When we compare TSM's valuation to its growth rate, TSM does not look overly expensive, either. The company grew its earnings per share by 11% in the most recent quarter, and&nbsp;revenue growth&nbsp;has been in the double-digits, and as high as 45% in eight out of the last eight quarters. Strong growth will persist through the coming quarters and years from what we know today:</p><p><blockquote>当我们将TSM的估值与其增长率进行比较时，TSM看起来也不算太贵。该公司最近一个季度每股收益增长了11%，收入增长一直保持两位数，过去八个季度中有八个季度高达45%。据我们今天所知，未来几个季度和几年将持续强劲增长：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/54f91237b93efce20ea06606b1896a3d\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Source: TSM presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TSM演示</span></p></blockquote></p><p> Based on management's current guidance, TSM will grow its revenue by 20% in Q3, compared to the previous year's quarter. On top of that, TSM's top line will hit a new record high, as revenues have never breached $14 billion before. Margins will, from what we know, not improve versus recent quarters, but top-line growth alone, at constant margins, will allow for an attractive increase in net profits.</p><p><blockquote>根据管理层目前的指导，TSM第三季度的收入将比去年同期增长20%。最重要的是，TSM的营收将创下历史新高，因为收入此前从未突破140亿美元。据我们所知，利润率与最近几个季度相比不会有所改善，但在利润率不变的情况下，仅营收增长就将使净利润出现有吸引力的增长。</blockquote></p><p> Due to the aforementioned tailwinds for the semiconductor industry as a whole, and thanks to a strong position for TSM when it comes to manufacturing processes such as 5nm and 7nm, which make up 50% of TSM's revenue, it is not a big surprise to see that analysts are forecasting attractive growth well beyond 2021. Current consensus estimates see TSM earning&nbsp;$5.53 per share&nbsp;in 2023, which gets us to a 2023 earnings multiple of 21, which I do not deem expensive for a major player in a growth industry such as TSM.</p><p><blockquote>由于上述整个半导体行业的有利因素，以及TSM在占TSM收入50%的5nm和7nm等制造工艺方面的强势地位，因此看到这一点并不令人意外分析师预测2021年之后将出现有吸引力的增长。目前的普遍预测是，TSM 2023年每股收益为5.53美元，这使我们2023年的市盈率达到21倍，我认为这对于TSM这样的成长型行业的主要参与者来说并不昂贵。</blockquote></p><p> <b>Will TSM Stock Go Up?</b></p><p><blockquote><b>TSM股票会上涨吗？</b></blockquote></p><p> In the near term, price movements are mostly driven by sentiment, and not really influenced by underlying results to a large degree. It thus seems pretty daring to try to estimate where prices will be a month or 3 months from now. The current consensus price target by the analyst community is $137, which indicates an upside of around 20% over the next year. The consensus rating by Wall Street analysts is also bullish, and the same holds true for the Seeking Alpha Quant rating, which stands at3.8, which is moderately bullish. With an RSI (relative strength index) of 48, Taiwan Semiconductor is neither overbought nor oversold. Over the next year, its share price could thus climb if the analyst community is correct, but this is far from certain, and the above-average valuation may pressure returns in the foreseeable future. It is, however, more important to try to evaluate where shares will be a couple of years from now, and the outlook is pretty solid for TSM in that regard.</p><p><blockquote>在短期内，价格变动主要是由情绪驱动的，并没有在很大程度上真正受到潜在结果的影响。因此，试图估计一个月或三个月后的价格似乎相当大胆。分析师界目前的一致目标价为137美元，这表明明年的上涨空间约为20%。华尔街分析师的一致评级也是看涨，Seeking Alpha Quant评级也是如此，为3.8，属于中度看涨。台积电的RSI（相对强弱指数）为48，既不超买也不超卖。如果分析师界是正确的，明年其股价可能会攀升，但这还远未确定，高于平均水平的估值可能会在可预见的未来给回报带来压力。然而，更重要的是尝试评估几年后股价的走势，在这方面，TSM的前景相当稳健。</blockquote></p><p> <b>Is TSM Stock A Good Long-Term Investment?</b></p><p><blockquote><b>TSM股票是一项不错的长期投资吗？</b></blockquote></p><p> Due to the aforementioned industry characteristics and TSM's sizeable moat when it comes to contract manufacturing, Taiwan Semiconductor Manufacturing Company has an attractive long-term growth outlook, I believe. Analysts are forecasting $5.53 in earnings per share for 2023, and growth beyond that point should remain meaningful as well -- analysts are expecting 16% growth annually in the long run.</p><p><blockquote>由于上述行业特征以及TSM在合同制造方面的相当大的护城河，我相信台积电公司具有有吸引力的长期增长前景。分析师预测2023年每股收益为5.53美元，超过该点的增长也应该仍然有意义——分析师预计从长远来看，每年增长16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bf936a529b0793b3f6469237189d9d29\" tg-width=\"640\" tg-height=\"515\" width=\"100%\" height=\"auto\"><span>Source: FAST Graphs</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：快速图表</span></p></blockquote></p><p></p><p> As we see in the above chart, annual returns could come in around 11% a year through the next five years if the consensus growth rate is correct -- and multiple compression towards an earnings multiple of 22 is already included in that estimate. Due to the fact that TSM is trading above its normal range today, I believe that a 27x earnings multiple will not be maintained, but an earnings multiple in the low 20s seems quite reasonable to me. Even if the P/E ratio were to decline to just 20, TSM would still generate annual returns of 9% a year through 2026, assuming growth is as fast as expected. Since TSM has managed to beat profit estimates for 13 quarters in a row, one could assume that there is little risk that analyst estimates are suddenly too aggressive -- in fact, returns could be slightly higher than what the above model indicates if the beating of expectations continues.</p><p><blockquote>正如我们在上图中看到的，如果共识增长率正确，未来五年的年回报率可能会在11%左右，并且该估计中已经包含了市盈率22的倍数压缩。由于TSM今天的交易价格高于正常范围，我相信不会维持27倍的市盈率，但20多倍的市盈率对我来说似乎相当合理。即使市盈率降至仅20，假设增长速度与预期一样快，TSM到2026年仍将产生9%的年回报率。由于TSM已连续13个季度超出利润预期，因此可以假设分析师预期突然过于激进的风险很小——事实上，如果超出预期，回报可能会略高于上述模型显示的预期。</blockquote></p><p> Overall, TSM looks like a very solid long-term investment if one seeks a play that gives exposure to the whole semiconductor industry and its long-term growth tailwinds. </p><p><blockquote>总体而言，如果人们寻求接触整个半导体行业及其长期增长推动力的投资，TSM看起来是一项非常可靠的长期投资。</blockquote></p><p> TSM pays a dividend yielding around 1.7% today, which is not overly much, but still more than what one can get from the broad market. Combined with a 5-year dividend growth rate of 13%, Taiwan Semiconductor seems like an appealing choice for a dividend growth investment -- the overall pretty strong&nbsp;Dividend Grades&nbsp;from Seeking Alpha's quant algorithm underline this. It would, of course, be great if one could buy TSM at or closer to the median earnings multiples from the past, but there is no immediate catalyst that could bring shares back down below $100, and it is far from certain that this will happen at all.</p><p><blockquote>TSM目前支付的股息收益率约为1.7%，虽然不算多，但仍然高于人们从大盘中获得的股息。结合13%的5年股息增长率，台积电似乎是股息增长投资的一个有吸引力的选择——Seeking Alpha量化算法的整体相当强劲的股息评级强调了这一点。当然，如果人们能够以或接近过去市盈率中位数的价格购买TSM，那就太好了，但没有立即的催化剂可以使股价回落到100美元以下，而且这种情况是否会发生还远未确定。</blockquote></p><p> Overall, Taiwan Semiconductor Manufacturing Company thus looks like a very solid long-term pick, even though total returns will likely be negatively impacted by some multiple compression in the long run. Annual returns, including dividends, in the 9%-12% range are realistic when one has a multi-year investment horizon, I believe. This is far from what one got over the last five years (more than 30% a year), but this could easily be enough to beat the returns of the market through 2026, I believe.</p><p><blockquote>总体而言，台积电公司因此看起来是一个非常可靠的长期选择，尽管从长远来看，总回报可能会受到一些倍数压缩的负面影响。我相信，当一个人有多年的投资期限时，9%-12%的年回报率（包括股息）是现实的。这与过去五年的回报率（每年超过30%）相去甚远，但我相信，这很容易足以击败2026年的市场回报率。</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>Is Taiwan Semiconductor Stock A Good Long-Term Investment? What To Consider<blockquote>台积电股票是一项好的长期投资吗？要考虑什么</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\">\nIs Taiwan Semiconductor Stock A Good Long-Term Investment? What To Consider<blockquote>台积电股票是一项好的长期投资吗？要考虑什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-04 14:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>TSM offers exposure to the growing semiconductor industry in a diversified way, as it will benefit from growth at NVIDIA, Apple, and many more.</li>  <li>The company's business model has some disadvantages as well, mainly its relatively high capital requirements that limit its FCF conversion rate.</li>  <li>TSM is trading above its longer-term valuation range, but shares could still deliver attractive returns in the long run.</li> </ul> <b>Article Thesis</b></p><p><blockquote><ul><li>TSM以多元化的方式接触不断增长的半导体行业，因为它将受益于英伟达、苹果等公司的增长。</li><li>该公司的商业模式也有一些缺点，主要是资本要求相对较高，限制了其自由现金流转化率。</li><li>TSM的交易价格高于其长期估值范围，但从长远来看，其股价仍可能带来有吸引力的回报。</li></ul><b>文章论文</b></blockquote></p><p> The semiconductor industry has experienced rapid growth in recent years, and the long-term outlook remains strong as well. Chips are integral for our way of life and for our economy, and Taiwan Semiconductor Manufacturing Company Limited (TSM), as one of the largest manufacturers in the space, is poised to benefit from long-term growth trends. Investors should, apart from the growth prospects, also consider TSM's valuation and the risks for the business. Overall, TSM still seems like a company that could deliver attractive returns in the long run.</p><p><blockquote>半导体行业近年来经历了快速增长，长期前景也依然强劲。芯片是我们生活方式和经济不可或缺的一部分，台积电有限公司(TSM)作为该领域最大的制造商之一，有望从长期增长趋势中受益。除了增长前景外，投资者还应考虑TSM的估值和业务风险。总体而言，从长远来看，TSM似乎仍然是一家能够带来有吸引力回报的公司。</blockquote></p><p> <b>Taiwan Semiconductor As A Play On Global Semiconductor Demand Growth</b></p><p><blockquote><b>台积电对全球半导体需求增长的推动作用</b></blockquote></p><p> Over the last couple of decades, the global semiconductor industry has experienced rapid growth, as chips have become integral for almost everything we do, from work to our personal communication, and even for the way we spend our free time. These trends -- digitalization &amp; technification -- are still in play, and it seems highly unlikely that we will be using fewer technical gadgets and products in a decade or two. In fact, it seems, to me, pretty much certain that our chip usage will grow even more, due to megatrends such as the internet of things, smart products, self-driving cars, wearable tech, and so on. Even trends such as working from home will lead to fewer meetings that will be conducted in-person, which will, in turn, lead to higher demand for at-home technical equipment and processing power in server farms that handle video conferences. New and emerging technologies, such as the&nbsp;Metaverse&nbsp;as the next-generation internet, will require more processing power compared to current technologies as well, which will, in turn, lead to higher chip demand. Overall, the growth outlook for the semiconductor industry is thus strong and will remain strong for a long time, I believe. This does not necessarily mean that every company in this space will grow forever, but it is, of course, better to be active in a high-growth industry rather than a low-growth industry, all else equal.</p><p><blockquote>在过去的几十年里，全球半导体行业经历了快速增长，芯片已经成为我们几乎所有事情不可或缺的一部分，从工作到个人交流，甚至是我们度过空闲时间的方式。这些趋势——数字化和技术化——仍在发挥作用，在一二十年内，我们不太可能使用更少的技术设备和产品。事实上，在我看来，由于物联网、智能产品、自动驾驶汽车、可穿戴技术等大趋势，我们的芯片使用量将会增长更多。即使是在家工作等趋势也会导致面对面举行的会议减少，这反过来又会导致对家庭技术设备和处理视频会议的服务器群的处理能力的更高需求。与当前技术相比，新兴技术（例如作为下一代互联网的元宇宙）也将需要更多的处理能力，这反过来将导致更高的芯片需求。总体而言，我相信半导体行业的增长前景是强劲的，并且将在很长一段时间内保持强劲。这并不一定意味着这个领域的每家公司都会永远增长，但在其他条件相同的情况下，活跃在高增长行业而不是低增长行业当然更好。</blockquote></p><p> Taiwan Semiconductor Manufacturing Company, as the leading contract manufacturer in the world, will benefit from higher demand for contract manufacturing. This, in turn, will be driven by the increasing demand from fabless companies such as NVIDIA (NVDA), AMD (AMD), Apple (AAPL), and many more that are paying TSM to manufacture their semiconductors.</p><p><blockquote>台积电公司作为全球领先的合同制造商，将受益于更高的合同制造需求。反过来，这将受到NVIDIA(NVDA)、AMD(AMD)、苹果(AAPL)等无晶圆厂公司不断增长的需求的推动，这些公司向TSM付费以制造半导体。</blockquote></p><p> Taiwan Semiconductor's business model has the upside of allowing the company to benefit from growing chip demand overall, no matter which individual customer experiences the highest demand growth. On the other hand, there are also downsides to TSM's business model, mainly the fact that the buildout of&nbsp;new plants&nbsp;requires huge capital expenditures:</p><p><blockquote>台积电的商业模式的好处是，无论哪个单个客户的需求增长最高，该公司都可以从整体不断增长的芯片需求中受益。另一方面，TSM的商业模式也存在缺点，主要是新工厂的建设需要巨额资本支出：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5579119980e11c583375bdbd4b054194\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> TSM did generate operating cash flows of $29 billion over the last year, which results in a free cash flow of $9 billion once capital expenditures of $20 billion are subtracted. Net income, over the same time, was $18 billion, which means that TSM's free cash flow conversion rate was rather low, at just 50%. Other semiconductor companies, especially those that operate on a fabless basis, do generate significantly higher FCF relative to their net profits. One should, however, note that not all of TSM's capital expenditures are spent on maintenance projects, and growth spending will lead to higher cash flows at some point in the future. Still, TSM's business model means that its FCF is relatively weak relative to net profits, which limits the company's ability to grow via M&amp;A or to return cash to the company's owners.</p><p><blockquote>TSM去年确实产生了290亿美元的运营现金流，如果减去200亿美元的资本支出，自由现金流将达到90亿美元。同期净利润为180亿美元，这意味着TSM的自由现金流转化率相当低，仅为50%。其他半导体公司，尤其是那些在无晶圆厂基础上运营的公司，相对于净利润，其自由现金流确实要高得多。然而，应该注意的是，并非TSM的所有资本支出都用于维护项目，增长支出将在未来某个时候导致更高的现金流。尽管如此，TSM的商业模式意味着其自由现金流相对于净利润相对较弱，这限制了该公司通过并购实现增长或向公司所有者返还现金的能力。</blockquote></p><p> <b>Is TSM Stock Overvalued?</b></p><p><blockquote><b>TSM股票是否被高估？</b></blockquote></p><p></p><p> Taiwan Semiconductor Manufacturing Company has seen its shares rise by 45% over the last year, which may lead to questions about its current valuation. It should, however, be noted that this is not that much more than the returns by the broad market over the same time frame, as the S&amp;P 500 index (SPY) is up 35% over the last twelve months. TSM's stock trades significantly below the all-time high that was hit in early 2021 at $142, shares have declined by close to 20% over the last couple of months. Based on current earnings per share estimates for this fiscal year, TSM trades at 27x net profits, which is neither an overly high valuation nor an especially low valuation in absolute terms. On a relative basis, TSM looks significantly more expensive than it used to be:</p><p><blockquote>台积电公司的股价去年上涨了45%，这可能会引发人们对其当前估值的质疑。然而，应该指出的是，这并不比同期大盘的回报高多少，因为标普500指数（SPDR标普500指数ETF）在过去12个月内上涨了35%。TSM的股价远低于2021年初创下的142美元的历史高点，过去几个月股价下跌了近20%。根据目前对本财年每股收益的预测，TSM的交易价格是净利润的27倍，从绝对值来看，这既不是过高的估值，也不是特别低的估值。相对而言，TSM看起来比以前贵得多：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3630fc05937b218e3c5522064b623da8\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> In the above chart, we see that TSM was historically valued at 17x-23x its net profits, on average. At current prices, TSM trades about 20% above the 3-year median earnings multiple, and at a quite large 60% premium compared to the 10-year median. One can, of course, note that multiple expansion relative to the 10-year median is justified -- interest rates are ultra-low today, TSM's scale has improved and its moat has grown, and shares were arguably too cheap over much of the last decade. I would thus not call TSM overly expensive today, but it is still noteworthy that the company trades at a pretty clear premium compared to how shares were valued in the past.</p><p><blockquote>在上图中，我们看到TSM的历史平均估值为净利润的17倍至23倍。按目前价格计算，TSM的交易价格比3年市盈率中位数高出约20%，与10年市盈率中位数相比溢价60%。当然，人们可以注意到，相对于10年期中位数的倍数扩张是合理的——如今利率超低，TSM的规模有所提高，护城河也有所扩大，而且在过去的大部分时间里，股价可以说太便宜了。十年。因此，我不认为看涨期权TSM今天过于昂贵，但仍然值得注意的是，与过去的股票估值相比，该公司的交易价格相当明显。</blockquote></p><p> When we compare TSM's valuation to its growth rate, TSM does not look overly expensive, either. The company grew its earnings per share by 11% in the most recent quarter, and&nbsp;revenue growth&nbsp;has been in the double-digits, and as high as 45% in eight out of the last eight quarters. Strong growth will persist through the coming quarters and years from what we know today:</p><p><blockquote>当我们将TSM的估值与其增长率进行比较时，TSM看起来也不算太贵。该公司最近一个季度每股收益增长了11%，收入增长一直保持两位数，过去八个季度中有八个季度高达45%。据我们今天所知，未来几个季度和几年将持续强劲增长：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/54f91237b93efce20ea06606b1896a3d\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Source: TSM presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TSM演示</span></p></blockquote></p><p> Based on management's current guidance, TSM will grow its revenue by 20% in Q3, compared to the previous year's quarter. On top of that, TSM's top line will hit a new record high, as revenues have never breached $14 billion before. Margins will, from what we know, not improve versus recent quarters, but top-line growth alone, at constant margins, will allow for an attractive increase in net profits.</p><p><blockquote>根据管理层目前的指导，TSM第三季度的收入将比去年同期增长20%。最重要的是，TSM的营收将创下历史新高，因为收入此前从未突破140亿美元。据我们所知，利润率与最近几个季度相比不会有所改善，但在利润率不变的情况下，仅营收增长就将使净利润出现有吸引力的增长。</blockquote></p><p> Due to the aforementioned tailwinds for the semiconductor industry as a whole, and thanks to a strong position for TSM when it comes to manufacturing processes such as 5nm and 7nm, which make up 50% of TSM's revenue, it is not a big surprise to see that analysts are forecasting attractive growth well beyond 2021. Current consensus estimates see TSM earning&nbsp;$5.53 per share&nbsp;in 2023, which gets us to a 2023 earnings multiple of 21, which I do not deem expensive for a major player in a growth industry such as TSM.</p><p><blockquote>由于上述整个半导体行业的有利因素，以及TSM在占TSM收入50%的5nm和7nm等制造工艺方面的强势地位，因此看到这一点并不令人意外分析师预测2021年之后将出现有吸引力的增长。目前的普遍预测是，TSM 2023年每股收益为5.53美元，这使我们2023年的市盈率达到21倍，我认为这对于TSM这样的成长型行业的主要参与者来说并不昂贵。</blockquote></p><p> <b>Will TSM Stock Go Up?</b></p><p><blockquote><b>TSM股票会上涨吗？</b></blockquote></p><p> In the near term, price movements are mostly driven by sentiment, and not really influenced by underlying results to a large degree. It thus seems pretty daring to try to estimate where prices will be a month or 3 months from now. The current consensus price target by the analyst community is $137, which indicates an upside of around 20% over the next year. The consensus rating by Wall Street analysts is also bullish, and the same holds true for the Seeking Alpha Quant rating, which stands at3.8, which is moderately bullish. With an RSI (relative strength index) of 48, Taiwan Semiconductor is neither overbought nor oversold. Over the next year, its share price could thus climb if the analyst community is correct, but this is far from certain, and the above-average valuation may pressure returns in the foreseeable future. It is, however, more important to try to evaluate where shares will be a couple of years from now, and the outlook is pretty solid for TSM in that regard.</p><p><blockquote>在短期内，价格变动主要是由情绪驱动的，并没有在很大程度上真正受到潜在结果的影响。因此，试图估计一个月或三个月后的价格似乎相当大胆。分析师界目前的一致目标价为137美元，这表明明年的上涨空间约为20%。华尔街分析师的一致评级也是看涨，Seeking Alpha Quant评级也是如此，为3.8，属于中度看涨。台积电的RSI（相对强弱指数）为48，既不超买也不超卖。如果分析师界是正确的，明年其股价可能会攀升，但这还远未确定，高于平均水平的估值可能会在可预见的未来给回报带来压力。然而，更重要的是尝试评估几年后股价的走势，在这方面，TSM的前景相当稳健。</blockquote></p><p> <b>Is TSM Stock A Good Long-Term Investment?</b></p><p><blockquote><b>TSM股票是一项不错的长期投资吗？</b></blockquote></p><p> Due to the aforementioned industry characteristics and TSM's sizeable moat when it comes to contract manufacturing, Taiwan Semiconductor Manufacturing Company has an attractive long-term growth outlook, I believe. Analysts are forecasting $5.53 in earnings per share for 2023, and growth beyond that point should remain meaningful as well -- analysts are expecting 16% growth annually in the long run.</p><p><blockquote>由于上述行业特征以及TSM在合同制造方面的相当大的护城河，我相信台积电公司具有有吸引力的长期增长前景。分析师预测2023年每股收益为5.53美元，超过该点的增长也应该仍然有意义——分析师预计从长远来看，每年增长16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bf936a529b0793b3f6469237189d9d29\" tg-width=\"640\" tg-height=\"515\" width=\"100%\" height=\"auto\"><span>Source: FAST Graphs</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：快速图表</span></p></blockquote></p><p></p><p> As we see in the above chart, annual returns could come in around 11% a year through the next five years if the consensus growth rate is correct -- and multiple compression towards an earnings multiple of 22 is already included in that estimate. Due to the fact that TSM is trading above its normal range today, I believe that a 27x earnings multiple will not be maintained, but an earnings multiple in the low 20s seems quite reasonable to me. Even if the P/E ratio were to decline to just 20, TSM would still generate annual returns of 9% a year through 2026, assuming growth is as fast as expected. Since TSM has managed to beat profit estimates for 13 quarters in a row, one could assume that there is little risk that analyst estimates are suddenly too aggressive -- in fact, returns could be slightly higher than what the above model indicates if the beating of expectations continues.</p><p><blockquote>正如我们在上图中看到的，如果共识增长率正确，未来五年的年回报率可能会在11%左右，并且该估计中已经包含了市盈率22的倍数压缩。由于TSM今天的交易价格高于正常范围，我相信不会维持27倍的市盈率，但20多倍的市盈率对我来说似乎相当合理。即使市盈率降至仅20，假设增长速度与预期一样快，TSM到2026年仍将产生9%的年回报率。由于TSM已连续13个季度超出利润预期，因此可以假设分析师预期突然过于激进的风险很小——事实上，如果超出预期，回报可能会略高于上述模型显示的预期。</blockquote></p><p> Overall, TSM looks like a very solid long-term investment if one seeks a play that gives exposure to the whole semiconductor industry and its long-term growth tailwinds. </p><p><blockquote>总体而言，如果人们寻求接触整个半导体行业及其长期增长推动力的投资，TSM看起来是一项非常可靠的长期投资。</blockquote></p><p> TSM pays a dividend yielding around 1.7% today, which is not overly much, but still more than what one can get from the broad market. Combined with a 5-year dividend growth rate of 13%, Taiwan Semiconductor seems like an appealing choice for a dividend growth investment -- the overall pretty strong&nbsp;Dividend Grades&nbsp;from Seeking Alpha's quant algorithm underline this. It would, of course, be great if one could buy TSM at or closer to the median earnings multiples from the past, but there is no immediate catalyst that could bring shares back down below $100, and it is far from certain that this will happen at all.</p><p><blockquote>TSM目前支付的股息收益率约为1.7%，虽然不算多，但仍然高于人们从大盘中获得的股息。结合13%的5年股息增长率，台积电似乎是股息增长投资的一个有吸引力的选择——Seeking Alpha量化算法的整体相当强劲的股息评级强调了这一点。当然，如果人们能够以或接近过去市盈率中位数的价格购买TSM，那就太好了，但没有立即的催化剂可以使股价回落到100美元以下，而且这种情况是否会发生还远未确定。</blockquote></p><p> Overall, Taiwan Semiconductor Manufacturing Company thus looks like a very solid long-term pick, even though total returns will likely be negatively impacted by some multiple compression in the long run. Annual returns, including dividends, in the 9%-12% range are realistic when one has a multi-year investment horizon, I believe. This is far from what one got over the last five years (more than 30% a year), but this could easily be enough to beat the returns of the market through 2026, I believe.</p><p><blockquote>总体而言，台积电公司因此看起来是一个非常可靠的长期选择，尽管从长远来看，总回报可能会受到一些倍数压缩的负面影响。我相信，当一个人有多年的投资期限时，9%-12%的年回报率（包括股息）是现实的。这与过去五年的回报率（每年超过30%）相去甚远，但我相信，这很容易足以击败2026年的市场回报率。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4444222-taiwan-semiconductor-stock-good-long-term-investment\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电"},"source_url":"https://seekingalpha.com/article/4444222-taiwan-semiconductor-stock-good-long-term-investment","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136485652","content_text":"Summary\n\nTSM offers exposure to the growing semiconductor industry in a diversified way, as it will benefit from growth at NVIDIA, Apple, and many more.\nThe company's business model has some disadvantages as well, mainly its relatively high capital requirements that limit its FCF conversion rate.\nTSM is trading above its longer-term valuation range, but shares could still deliver attractive returns in the long run.\n\nArticle Thesis\nThe semiconductor industry has experienced rapid growth in recent years, and the long-term outlook remains strong as well. Chips are integral for our way of life and for our economy, and Taiwan Semiconductor Manufacturing Company Limited (TSM), as one of the largest manufacturers in the space, is poised to benefit from long-term growth trends. Investors should, apart from the growth prospects, also consider TSM's valuation and the risks for the business. Overall, TSM still seems like a company that could deliver attractive returns in the long run.\nTaiwan Semiconductor As A Play On Global Semiconductor Demand Growth\nOver the last couple of decades, the global semiconductor industry has experienced rapid growth, as chips have become integral for almost everything we do, from work to our personal communication, and even for the way we spend our free time. These trends -- digitalization & technification -- are still in play, and it seems highly unlikely that we will be using fewer technical gadgets and products in a decade or two. In fact, it seems, to me, pretty much certain that our chip usage will grow even more, due to megatrends such as the internet of things, smart products, self-driving cars, wearable tech, and so on. Even trends such as working from home will lead to fewer meetings that will be conducted in-person, which will, in turn, lead to higher demand for at-home technical equipment and processing power in server farms that handle video conferences. New and emerging technologies, such as the Metaverse as the next-generation internet, will require more processing power compared to current technologies as well, which will, in turn, lead to higher chip demand. Overall, the growth outlook for the semiconductor industry is thus strong and will remain strong for a long time, I believe. This does not necessarily mean that every company in this space will grow forever, but it is, of course, better to be active in a high-growth industry rather than a low-growth industry, all else equal.\nTaiwan Semiconductor Manufacturing Company, as the leading contract manufacturer in the world, will benefit from higher demand for contract manufacturing. This, in turn, will be driven by the increasing demand from fabless companies such as NVIDIA (NVDA), AMD (AMD), Apple (AAPL), and many more that are paying TSM to manufacture their semiconductors.\nTaiwan Semiconductor's business model has the upside of allowing the company to benefit from growing chip demand overall, no matter which individual customer experiences the highest demand growth. On the other hand, there are also downsides to TSM's business model, mainly the fact that the buildout of new plants requires huge capital expenditures:\nData by YCharts\nTSM did generate operating cash flows of $29 billion over the last year, which results in a free cash flow of $9 billion once capital expenditures of $20 billion are subtracted. Net income, over the same time, was $18 billion, which means that TSM's free cash flow conversion rate was rather low, at just 50%. Other semiconductor companies, especially those that operate on a fabless basis, do generate significantly higher FCF relative to their net profits. One should, however, note that not all of TSM's capital expenditures are spent on maintenance projects, and growth spending will lead to higher cash flows at some point in the future. Still, TSM's business model means that its FCF is relatively weak relative to net profits, which limits the company's ability to grow via M&A or to return cash to the company's owners.\nIs TSM Stock Overvalued?\nTaiwan Semiconductor Manufacturing Company has seen its shares rise by 45% over the last year, which may lead to questions about its current valuation. It should, however, be noted that this is not that much more than the returns by the broad market over the same time frame, as the S&P 500 index (SPY) is up 35% over the last twelve months. TSM's stock trades significantly below the all-time high that was hit in early 2021 at $142, shares have declined by close to 20% over the last couple of months. Based on current earnings per share estimates for this fiscal year, TSM trades at 27x net profits, which is neither an overly high valuation nor an especially low valuation in absolute terms. On a relative basis, TSM looks significantly more expensive than it used to be:\nData by YCharts\nIn the above chart, we see that TSM was historically valued at 17x-23x its net profits, on average. At current prices, TSM trades about 20% above the 3-year median earnings multiple, and at a quite large 60% premium compared to the 10-year median. One can, of course, note that multiple expansion relative to the 10-year median is justified -- interest rates are ultra-low today, TSM's scale has improved and its moat has grown, and shares were arguably too cheap over much of the last decade. I would thus not call TSM overly expensive today, but it is still noteworthy that the company trades at a pretty clear premium compared to how shares were valued in the past.\nWhen we compare TSM's valuation to its growth rate, TSM does not look overly expensive, either. The company grew its earnings per share by 11% in the most recent quarter, and revenue growth has been in the double-digits, and as high as 45% in eight out of the last eight quarters. Strong growth will persist through the coming quarters and years from what we know today:\nSource: TSM presentation\nBased on management's current guidance, TSM will grow its revenue by 20% in Q3, compared to the previous year's quarter. On top of that, TSM's top line will hit a new record high, as revenues have never breached $14 billion before. Margins will, from what we know, not improve versus recent quarters, but top-line growth alone, at constant margins, will allow for an attractive increase in net profits.\nDue to the aforementioned tailwinds for the semiconductor industry as a whole, and thanks to a strong position for TSM when it comes to manufacturing processes such as 5nm and 7nm, which make up 50% of TSM's revenue, it is not a big surprise to see that analysts are forecasting attractive growth well beyond 2021. Current consensus estimates see TSM earning $5.53 per share in 2023, which gets us to a 2023 earnings multiple of 21, which I do not deem expensive for a major player in a growth industry such as TSM.\nWill TSM Stock Go Up?\nIn the near term, price movements are mostly driven by sentiment, and not really influenced by underlying results to a large degree. It thus seems pretty daring to try to estimate where prices will be a month or 3 months from now. The current consensus price target by the analyst community is $137, which indicates an upside of around 20% over the next year. The consensus rating by Wall Street analysts is also bullish, and the same holds true for the Seeking Alpha Quant rating, which stands at3.8, which is moderately bullish. With an RSI (relative strength index) of 48, Taiwan Semiconductor is neither overbought nor oversold. Over the next year, its share price could thus climb if the analyst community is correct, but this is far from certain, and the above-average valuation may pressure returns in the foreseeable future. It is, however, more important to try to evaluate where shares will be a couple of years from now, and the outlook is pretty solid for TSM in that regard.\nIs TSM Stock A Good Long-Term Investment?\nDue to the aforementioned industry characteristics and TSM's sizeable moat when it comes to contract manufacturing, Taiwan Semiconductor Manufacturing Company has an attractive long-term growth outlook, I believe. Analysts are forecasting $5.53 in earnings per share for 2023, and growth beyond that point should remain meaningful as well -- analysts are expecting 16% growth annually in the long run.\nSource: FAST Graphs\nAs we see in the above chart, annual returns could come in around 11% a year through the next five years if the consensus growth rate is correct -- and multiple compression towards an earnings multiple of 22 is already included in that estimate. Due to the fact that TSM is trading above its normal range today, I believe that a 27x earnings multiple will not be maintained, but an earnings multiple in the low 20s seems quite reasonable to me. Even if the P/E ratio were to decline to just 20, TSM would still generate annual returns of 9% a year through 2026, assuming growth is as fast as expected. Since TSM has managed to beat profit estimates for 13 quarters in a row, one could assume that there is little risk that analyst estimates are suddenly too aggressive -- in fact, returns could be slightly higher than what the above model indicates if the beating of expectations continues.\nOverall, TSM looks like a very solid long-term investment if one seeks a play that gives exposure to the whole semiconductor industry and its long-term growth tailwinds. \nTSM pays a dividend yielding around 1.7% today, which is not overly much, but still more than what one can get from the broad market. Combined with a 5-year dividend growth rate of 13%, Taiwan Semiconductor seems like an appealing choice for a dividend growth investment -- the overall pretty strong Dividend Grades from Seeking Alpha's quant algorithm underline this. It would, of course, be great if one could buy TSM at or closer to the median earnings multiples from the past, but there is no immediate catalyst that could bring shares back down below $100, and it is far from certain that this will happen at all.\nOverall, Taiwan Semiconductor Manufacturing Company thus looks like a very solid long-term pick, even though total returns will likely be negatively impacted by some multiple compression in the long run. Annual returns, including dividends, in the 9%-12% range are realistic when one has a multi-year investment horizon, I believe. This is far from what one got over the last five years (more than 30% a year), but this could easily be enough to beat the returns of the market through 2026, I believe.","news_type":1,"symbols_score_info":{"TSM":0.9}},"isVote":1,"tweetType":1,"viewCount":893,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894609977,"gmtCreate":1628819284999,"gmtModify":1631889912821,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Rotation carries on from different asset classes","listText":"Rotation carries on from different asset classes","text":"Rotation carries on from different asset classes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894609977","repostId":"2159610672","repostType":4,"isVote":1,"tweetType":1,"viewCount":800,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894600867,"gmtCreate":1628819226159,"gmtModify":1631889912828,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"What's the small opportunity costs for holding gold as a hedge. Minimal. Good opportunity to accumulate gold on weakness&nbsp;","listText":"What's the small opportunity costs for holding gold as a hedge. Minimal. Good opportunity to accumulate gold on weakness&nbsp;","text":"What's the small opportunity costs for holding gold as a hedge. Minimal. Good opportunity to accumulate gold on weakness","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/894600867","repostId":"2159939264","repostType":4,"isVote":1,"tweetType":1,"viewCount":959,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895134683,"gmtCreate":1628727948942,"gmtModify":1631889912825,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Relative value emerging in many areas","listText":"Relative value emerging in many areas","text":"Relative value emerging in many areas","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/895134683","repostId":"1114789552","repostType":4,"isVote":1,"tweetType":1,"viewCount":933,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895035270,"gmtCreate":1628693379890,"gmtModify":1633745055993,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/895035270","repostId":"1186134691","repostType":4,"repost":{"id":"1186134691","kind":"news","pubTimestamp":1628692062,"share":"https://www.laohu8.com/m/news/1186134691?lang=zh_CN&edition=full","pubTime":"2021-08-11 22:27","market":"us","language":"en","title":"Here Comes The iPhone 13: One Reason Why It May Be A Success<blockquote>iPhone 13来了：它可能成功的原因之一</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1186134691","media":"Thestreet","summary":"Apple stock(AAPL)  has been spinning its wheels and trading at a share price of around $142 to $147 ","content":"<p>Apple stock(<b>AAPL</b>) &nbsp;has been spinning its wheels and trading at a share price of around $142 to $147 since early July. Afterdelivering a killer fiscal third quarterlate last month, investors seem to be awaiting the next catalyst to get behind the stock once again and push it to new all-time highs.</p><p><blockquote>苹果股票(<b>AAPL</b>）自7月初以来一直在旋转，股价约为142美元至147美元。在上个月末公布了杀手级的第三财季后，投资者似乎正在等待下一个催化剂，再次支持该股并将其推向历史新高。</blockquote></p><p> The catalyst may be only about six to eight weeks away. This is when the iPhone 13, Apple’s second generation of 5G-capable mobile devices, is expected to be unveiled. At least one main feature may help to make this one yet another successful smartphone launch for the Cupertino company.</p><p><blockquote>催化剂可能只有大约六到八周的时间。届时，苹果第二代支持5G的移动设备iPhone 13预计将亮相。至少有一个主要功能可能有助于使这款智能手机成为库比蒂诺公司的又一次成功发布。</blockquote></p><p> Not all about 5G</p><p><blockquote>不全是关于5G</blockquote></p><p> Even though one of the iPhone 12’s most talked-about feature is the ability to exchange data at 5G speeds, some believe that this is not the main appeal of the device to most consumers. 5G networks are still far from being fully developed, particularly outside China, and owning a 5G device today may not mean much to most users across most global markets.</p><p><blockquote>尽管iPhone 12最受关注的功能之一是能够以5G速度交换数据，但一些人认为这并不是该设备对大多数消费者的主要吸引力。5G网络仍远未得到充分发展，特别是在中国以外，如今拥有5G设备对全球大多数市场的大多数用户来说可能意义不大。</blockquote></p><p> The same could also be said of the iPhone 13. To win the hearts and minds of Apple enthusiasts and encourage them to buy the new product, the company will probably need to offer other substantial feature upgrades. One of the most likely ones is a set of new applications for the cameras.</p><p><blockquote>iPhone 13也是如此。为了赢得苹果爱好者的心并鼓励他们购买新产品，该公司可能需要提供其他实质性的功能升级。其中最有可能的是相机的一系列新应用。</blockquote></p><p> Bloomberg has justreportedthat Apple will introduce three new camera features on the iPhone 13:</p><p><blockquote>彭博社刚刚报道称，苹果将在iPhone 13上推出三项新相机功能：</blockquote></p><p> <ol>  <li>Portrait mode for videos, which allows for depth effects by blurring the background;</li>  <li>ProRes, a higher-quality video format that gives pro users more options in post-production;</li>  <li>New filters to enhance the look and colors of photos.</li> </ol> Will it be enough?</p><p><blockquote><ol><li>视频的人像模式，通过模糊背景来实现深度效果；</li><li>ProRes，一种更高质量的视频格式，为pro用户在后期制作中提供了更多选择；</li><li>增强照片外观和颜色的新滤镜。</li></ol>够了吗？</blockquote></p><p> The questions that Apple stock investors might be asking themselves is: will camera updates be enough to increase iPhone sales in the coming fiscal year? The answer is subject to personal opinions. I believe that these three new features alone will not do the trick.</p><p><blockquote>苹果股票投资者可能会问自己的问题是：相机更新是否足以增加下一财年的iPhone销量？答案以个人观点为准。我相信仅靠这三个新功能是不够的。</blockquote></p><p> However, the iPhone is proving to be more about the full package of benefits that it offers to its users than about one “killer” feature – be it camera, 5G connectivity, screen size, or other. I believe that the iPhone 13 has a good chance of doing well in fiscal 2022. However, other factors will likely play an important role, including the faster A15 processor and the continuous software updates to iOS.</p><p><blockquote>然而，事实证明，iPhone更多的是它为用户提供的全套好处，而不是一个“杀手级”功能——无论是摄像头、5G连接、屏幕尺寸还是其他。我相信iPhone 13很有可能在2022财年表现出色。然而，其他因素可能会发挥重要作用，包括更快的A15处理器和iOS的持续软件更新。</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>Here Comes The iPhone 13: One Reason Why It May Be A Success<blockquote>iPhone 13来了：它可能成功的原因之一</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Comes The iPhone 13: One Reason Why It May Be A Success<blockquote>iPhone 13来了：它可能成功的原因之一</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-08-11 22:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple stock(<b>AAPL</b>) &nbsp;has been spinning its wheels and trading at a share price of around $142 to $147 since early July. Afterdelivering a killer fiscal third quarterlate last month, investors seem to be awaiting the next catalyst to get behind the stock once again and push it to new all-time highs.</p><p><blockquote>苹果股票(<b>AAPL</b>）自7月初以来一直在旋转，股价约为142美元至147美元。在上个月末公布了杀手级的第三财季后，投资者似乎正在等待下一个催化剂，再次支持该股并将其推向历史新高。</blockquote></p><p> The catalyst may be only about six to eight weeks away. This is when the iPhone 13, Apple’s second generation of 5G-capable mobile devices, is expected to be unveiled. At least one main feature may help to make this one yet another successful smartphone launch for the Cupertino company.</p><p><blockquote>催化剂可能只有大约六到八周的时间。届时，苹果第二代支持5G的移动设备iPhone 13预计将亮相。至少有一个主要功能可能有助于使这款智能手机成为库比蒂诺公司的又一次成功发布。</blockquote></p><p> Not all about 5G</p><p><blockquote>不全是关于5G</blockquote></p><p> Even though one of the iPhone 12’s most talked-about feature is the ability to exchange data at 5G speeds, some believe that this is not the main appeal of the device to most consumers. 5G networks are still far from being fully developed, particularly outside China, and owning a 5G device today may not mean much to most users across most global markets.</p><p><blockquote>尽管iPhone 12最受关注的功能之一是能够以5G速度交换数据，但一些人认为这并不是该设备对大多数消费者的主要吸引力。5G网络仍远未得到充分发展，特别是在中国以外，如今拥有5G设备对全球大多数市场的大多数用户来说可能意义不大。</blockquote></p><p> The same could also be said of the iPhone 13. To win the hearts and minds of Apple enthusiasts and encourage them to buy the new product, the company will probably need to offer other substantial feature upgrades. One of the most likely ones is a set of new applications for the cameras.</p><p><blockquote>iPhone 13也是如此。为了赢得苹果爱好者的心并鼓励他们购买新产品，该公司可能需要提供其他实质性的功能升级。其中最有可能的是相机的一系列新应用。</blockquote></p><p> Bloomberg has justreportedthat Apple will introduce three new camera features on the iPhone 13:</p><p><blockquote>彭博社刚刚报道称，苹果将在iPhone 13上推出三项新相机功能：</blockquote></p><p> <ol>  <li>Portrait mode for videos, which allows for depth effects by blurring the background;</li>  <li>ProRes, a higher-quality video format that gives pro users more options in post-production;</li>  <li>New filters to enhance the look and colors of photos.</li> </ol> Will it be enough?</p><p><blockquote><ol><li>视频的人像模式，通过模糊背景来实现深度效果；</li><li>ProRes，一种更高质量的视频格式，为pro用户在后期制作中提供了更多选择；</li><li>增强照片外观和颜色的新滤镜。</li></ol>够了吗？</blockquote></p><p> The questions that Apple stock investors might be asking themselves is: will camera updates be enough to increase iPhone sales in the coming fiscal year? The answer is subject to personal opinions. I believe that these three new features alone will not do the trick.</p><p><blockquote>苹果股票投资者可能会问自己的问题是：相机更新是否足以增加下一财年的iPhone销量？答案以个人观点为准。我相信仅靠这三个新功能是不够的。</blockquote></p><p> However, the iPhone is proving to be more about the full package of benefits that it offers to its users than about one “killer” feature – be it camera, 5G connectivity, screen size, or other. I believe that the iPhone 13 has a good chance of doing well in fiscal 2022. However, other factors will likely play an important role, including the faster A15 processor and the continuous software updates to iOS.</p><p><blockquote>然而，事实证明，iPhone更多的是它为用户提供的全套好处，而不是一个“杀手级”功能——无论是摄像头、5G连接、屏幕尺寸还是其他。我相信iPhone 13很有可能在2022财年表现出色。然而，其他因素可能会发挥重要作用，包括更快的A15处理器和iOS的持续软件更新。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/iphone/here-comes-the-iphone-13-one-reason-why-it-may-be-a-success\">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/iphone/here-comes-the-iphone-13-one-reason-why-it-may-be-a-success","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186134691","content_text":"Apple stock(AAPL)  has been spinning its wheels and trading at a share price of around $142 to $147 since early July. Afterdelivering a killer fiscal third quarterlate last month, investors seem to be awaiting the next catalyst to get behind the stock once again and push it to new all-time highs.\nThe catalyst may be only about six to eight weeks away. This is when the iPhone 13, Apple’s second generation of 5G-capable mobile devices, is expected to be unveiled. At least one main feature may help to make this one yet another successful smartphone launch for the Cupertino company.\nNot all about 5G\nEven though one of the iPhone 12’s most talked-about feature is the ability to exchange data at 5G speeds, some believe that this is not the main appeal of the device to most consumers. 5G networks are still far from being fully developed, particularly outside China, and owning a 5G device today may not mean much to most users across most global markets.\nThe same could also be said of the iPhone 13. To win the hearts and minds of Apple enthusiasts and encourage them to buy the new product, the company will probably need to offer other substantial feature upgrades. One of the most likely ones is a set of new applications for the cameras.\nBloomberg has justreportedthat Apple will introduce three new camera features on the iPhone 13:\n\nPortrait mode for videos, which allows for depth effects by blurring the background;\nProRes, a higher-quality video format that gives pro users more options in post-production;\nNew filters to enhance the look and colors of photos.\n\nWill it be enough?\nThe questions that Apple stock investors might be asking themselves is: will camera updates be enough to increase iPhone sales in the coming fiscal year? The answer is subject to personal opinions. I believe that these three new features alone will not do the trick.\nHowever, the iPhone is proving to be more about the full package of benefits that it offers to its users than about one “killer” feature – be it camera, 5G connectivity, screen size, or other. I believe that the iPhone 13 has a good chance of doing well in fiscal 2022. 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Great value.Compliance with Chinese Government will put it in good stead","listText":"Alibaba still on sale. Great value.Compliance with Chinese Government will put it in good stead","text":"Alibaba still on sale. 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Not gme and even better tier meme like blackberry, bbby and kossHmmm?","listText":"Why Nio? Not gme and even better tier meme like blackberry, bbby and kossHmmm?","text":"Why Nio? Not gme and even better tier meme like blackberry, bbby and kossHmmm?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/159320730","repostId":"2147832167","repostType":4,"isVote":1,"tweetType":1,"viewCount":507,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831220177,"gmtCreate":1629330914899,"gmtModify":1631889912805,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Supply chain overhang will persist for a while","listText":"Supply chain overhang will persist for a while","text":"Supply chain overhang will persist for a while","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/831220177","repostId":"1157388681","repostType":4,"isVote":1,"tweetType":1,"viewCount":2295,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176118344,"gmtCreate":1626870975488,"gmtModify":1633770272169,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"I like intel strong franchise and chevron potential","listText":"I like intel strong franchise and chevron potential","text":"I like intel strong franchise and chevron potential","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/176118344","repostId":"2153610463","repostType":4,"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150815842,"gmtCreate":1624892596586,"gmtModify":1631885417073,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Blackberry is a laggard","listText":"Blackberry is a laggard","text":"Blackberry is a laggard","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/150815842","repostId":"1148481357","repostType":4,"repost":{"id":"1148481357","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":1624888651,"share":"https://www.laohu8.com/m/news/1148481357?lang=zh_CN&edition=full","pubTime":"2021-06-28 21:57","market":"us","language":"en","title":"Meme stocks are blazing hot, once again.<blockquote>模因股票再次炙手可热。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148481357","media":"Tiger Newspress","summary":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed be","content":"<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; 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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\">\nMeme stocks are blazing hot, once again.<blockquote>模因股票再次炙手可热。</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\">2021-06-28 21:57</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; Beyond climbed between 5% and 7%.</p><p><blockquote>Meme股票再次炙手可热。CCIV、Workhorse、游戏驿站、AMC和Bed Bath&amp;Beyond股价上涨5%至7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/fb2694f87fdac29278fbf2a583a1bf36\" tg-width=\"390\" tg-height=\"743\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WKHS":"Workhorse Group, Inc.","BBBY":"Bed Bath & Beyond, Inc.","GME":"游戏驿站","AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148481357","content_text":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed between 5% and 7%.","news_type":1,"symbols_score_info":{"AMC":0.9,"BBBY":0.9,"WKHS":0.9,"CCIV":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":933,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":826451734,"gmtCreate":1634048755686,"gmtModify":1634048820959,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Lovely","listText":"Lovely","text":"Lovely","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/826451734","repostId":"1190786641","repostType":4,"repost":{"id":"1190786641","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":1634047009,"share":"https://www.laohu8.com/m/news/1190786641?lang=zh_CN&edition=full","pubTime":"2021-10-12 21:56","market":"us","language":"en","title":"Solar industry stocks jumped in morning trading<blockquote>太阳能行业股票早盘上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190786641","media":"Tiger Newspress","summary":"Solar industry stocks jumped in Monday morning trading.Daqo New,SunPower,JinkoSolar,Sunrun,Maxeon So","content":"<p>Solar industry stocks jumped in Monday morning trading.Daqo New,SunPower,JinkoSolar,Sunrun,Maxeon Solar Technologies,Solaredge,ReneSola&nbsp;and&nbsp;Enphase Energy&nbsp;climbed between 3% and 7%.</p><p><blockquote>太阳能行业股票在周一早盘交易中上涨。大全新、SunPower、晶科能源、Sunrun、Maxeon Solar Technologies、Solaredge、昱辉阳光和Enphase Energy上涨3%至7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/781eb6a13c611e315e4d8ffc03328baf\" tg-width=\"409\" tg-height=\"725\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Solar industry stocks jumped in morning trading<blockquote>太阳能行业股票早盘上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSolar industry stocks jumped in morning trading<blockquote>太阳能行业股票早盘上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-12 21:56</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Solar industry stocks jumped in Monday morning trading.Daqo New,SunPower,JinkoSolar,Sunrun,Maxeon Solar Technologies,Solaredge,ReneSola&nbsp;and&nbsp;Enphase Energy&nbsp;climbed between 3% and 7%.</p><p><blockquote>太阳能行业股票在周一早盘交易中上涨。大全新、SunPower、晶科能源、Sunrun、Maxeon Solar Technologies、Solaredge、昱辉阳光和Enphase Energy上涨3%至7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/781eb6a13c611e315e4d8ffc03328baf\" tg-width=\"409\" tg-height=\"725\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JKS":"晶科能源","ENPH":"Enphase Energy","RUN":"Sunrun Inc.","MAXN":"Maxeon Solar Technologies Ltd","FSLR":"第一太阳能","DQ":"大全新能源","HASI":"Hannon Armstrong Sustainable Inf","SEDG":"SolarEdge Technologies, Inc.","SPWR":"Sunpower Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190786641","content_text":"Solar industry stocks jumped in Monday morning trading.Daqo New,SunPower,JinkoSolar,Sunrun,Maxeon Solar Technologies,Solaredge,ReneSola and Enphase Energy climbed between 3% and 7%.","news_type":1,"symbols_score_info":{"FSLR":0.9,"JKS":0.9,"MAXN":0.9,"SPWR":0.9,"NOVA":0.9,"SEDG":0.9,"RUN":0.9,"SOL":0.9,"SPI":0.9,"ENPH":0.9,"DQ":0.9,"HASI":0.9}},"isVote":1,"tweetType":1,"viewCount":2828,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":897400290,"gmtCreate":1628952166610,"gmtModify":1631889912816,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574563425538377","idStr":"3574563425538377"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/897400290","repostId":"1167599158","repostType":4,"isVote":1,"tweetType":1,"viewCount":1034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}