KennethHi的个人主页 - 老虎社区

KennethHi

暂无个人介绍

IP属地：未知

13关注

1粉丝

0主题

0勋章

2021-06-29

great !

Boeing’s Newest Jet Is Delayed. Other Issues Are More Important.<blockquote>波音公司最新的喷气式飞机延误了。其他问题更为重要。</blockquote>

2021-03-20

powell lol hoping for good news

Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>

2021-03-19

go go pot company

Better Pot Stock: Sundial Growers or Tilray?<blockquote>更好的大麻股票：Sundial Growers还是Tilray？</blockquote>

2021-03-19

good good .. diamond hands !!!

3 Unbeatable Growth Stocks to Buy If the Market Crashes<blockquote>如果市场崩盘，值得买入的3只无与伦比的成长型股票</blockquote>

2021-03-19

GME to the moon rocket

抱歉，原内容已删除

2021-03-19

GME to the moon

Why Is Everyone (Still) Talking About GameStop Stock?<blockquote>为什么每个人（仍然）都在谈论游戏驿站股票？</blockquote>

2021-03-18

love netflix

Netflix’s Scale Is The Key To Its Profitability<blockquote>Netflix的规模是其盈利的关键</blockquote>

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3574767847289890","uuid":"3574767847289890","gmtCreate":1611673823704,"gmtModify":1611673823704,"name":"KennethHi","pinyin":"kennethhi","introduction":"","introductionEn":"","signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":13,"tweetSize":7,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.06.13","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"35ec162348d5460f88c959321e554969-1","templateUuid":"35ec162348d5460f88c959321e554969","name":"精英交易员","description":"证券或期货账户累计交易次数达到30次","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"60.63%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":150267085,"gmtCreate":1624914560447,"gmtModify":1633947197877,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"great !","listText":"great !","text":"great !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/150267085","repostId":"1184667820","repostType":4,"repost":{"id":"1184667820","kind":"news","pubTimestamp":1624890163,"share":"https://www.laohu8.com/m/news/1184667820?lang=zh_CN&edition=full","pubTime":"2021-06-28 22:22","market":"us","language":"en","title":"Boeing’s Newest Jet Is Delayed. Other Issues Are More Important.<blockquote>波音公司最新的喷气式飞机延误了。其他问题更为重要。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184667820","media":"Barrons","summary":"The commercial aerospace giant Boeing got a bit of bad news about its latest 777 jet, the 777X. The ","content":"<p>The commercial aerospace giant Boeing got a bit of bad news about its latest 777 jet, the 777X. The Federal Aviation Administration told the company recently the jet likely won’t be approved for commercial service until mid-2023.</p><p><blockquote>商业航空航天巨头波音公司收到了一些关于其最新777喷气式飞机777X的坏消息。美国联邦航空管理局最近告诉该公司，这架飞机可能要到2023年中期才会被批准投入商业服务。</blockquote></p><p> That timeline, contained in a May letter from the regulator to the company, is longer than investors might have expected, but it isn’t actually all that bad for the stock. Boeing didn’t immediately reply to a request for comment.</p><p><blockquote>监管机构5月份致该公司的一封信中包含的时间表比投资者预期的要长，但实际上对该股来说并没有那么糟糕。波音公司没有立即回复置评请求。</blockquote></p><p> The 777X took its maiden test flight back in&nbsp;January 2020. That might have put it on track to be approved by mid-2021, based on the way the industry worked a few years ago. Consider that the&nbsp;737 MAX&nbsp;jet took its initial flight in early 2016 and was approved for service about 14 months later. Deliveries began around mid-2017.</p><p><blockquote>777X于2020年1月进行了首次试飞。根据该行业几年前的运作方式，这可能会使其有望在2021年中期获得批准。考虑到737 MAX喷气式飞机于2016年初首飞，并在大约14个月后获准服役。交付于2017年中期左右开始。</blockquote></p><p> But the MAX, of course, was grounded in March 2019 following two deadly crashes within five months. It took&nbsp;20-plus months&nbsp;of design modifications, additional testing, and regulatory oversight, for Boeing to win permission for the jet to carry passengers again.</p><p><blockquote>但MAX在五个月内发生两起致命事故后，于2019年3月停飞。波音公司花了20多个月的设计修改、额外测试和监管监督，才获得该飞机再次载客的许可。</blockquote></p><p> The MAX situation caused changes at Boeing, including new&nbsp;safety committees, as well as alterations to the FAA’s&nbsp;oversight process. Those shifts could be stretching out the approval process for new planes. The pandemic probably didn’t help the 777x approval timeline either.</p><p><blockquote>MAX的情况引起了波音公司的变化，包括新的安全委员会，以及美国联邦航空局监督流程的改变。这些转变可能会延长新飞机的审批流程。疫情可能也没有帮助777x的批准时间表。</blockquote></p><p> Regardless of the reasons, the approval process has been slow. Boeing investors aren’t thrilled with news of the delay, although deliveries of MAX jets and the recovery of the commercial aerospace business are bigger concerns. Shares were down about 2.8% at $241.56 in early trading, while the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average&nbsp;were nearly flat.</p><p><blockquote>不管是什么原因，审批过程一直很慢。波音投资者对延误的消息并不感到兴奋，尽管MAX喷气式飞机的交付和商业航空航天业务的复苏是更大的担忧。早盘股价下跌约2.8%，至241.56美元，而标准普尔500指数和道琼斯工业平均指数几乎持平。</blockquote></p><p> Vertical Research Partners analyst&nbsp;Rob Stallard&nbsp;summed up all of the positives and negatives for Boeing in a Monday report. The 777X delay is a regulatory problem, but it is only one of three he mentioned. China, for instance, hasn’t reapproved the 737 MAX yet, and the 787 still faces some reviews.</p><p><blockquote>Vertical Research Partners分析师Rob Stallard在周一的一份报告中总结了波音公司的所有积极和消极因素。777X延迟是一个监管问题，但这只是他提到的三个问题之一。例如，中国尚未重新批准737 MAX，787仍面临一些审查。</blockquote></p><p> On the positive side of the equation, new orders for the 737 MAX are starting to come in. He expects&nbsp;United Airlines(UAL) to announce an order for about 100 MAX jets in coming days.</p><p><blockquote>从积极的一面来看，737 MAX的新订单开始到来。他预计联合航空（UAL）将在未来几天宣布约100架MAX喷气式飞机的订单。</blockquote></p><p> The “roller coaster ride continues” for Boeing stock, he said, noting that “this week’s events probably don’t have an immediate impact on our numbers.” His target price for Boeing stock remains $242 a share. He rates shares at Hold.</p><p><blockquote>他表示，波音股票的“过山车之旅仍在继续”，并指出“本周的事件可能不会对我们的数据产生直接影响。”他对波音股票的目标价仍为每股242美元。他将股票评级为持有。</blockquote></p><p> Stallard is a little more bearish than his peers. Overall, about 57% of analysts covering the stock rate the shares at Buy. The&nbsp;average&nbsp;Buy-rating ratio for stocks in the S&amp;P 500 is about 55%. The averageprice targetamong analysts is about $267.</p><p><blockquote>斯塔拉德比他的同行更悲观一些。总体而言，约57%的分析师将该股评级为买入。标普500股票的平均买入评级比率约为55%。分析师的平均目标价约为267美元。</blockquote></p><p> The biggest issue facing the entire commercial aerospace industry is postpandemic demand. June 2021 U.S. commercial air travel is down&nbsp;roughly 25%&nbsp;compared with 2019 levels. But it is up almost 300% compared with June 2020.</p><p><blockquote>整个商业航天行业面临的最大问题是大流行后的需求。与2019年相比，2021年6月美国商业航空旅行下降了约25%。但与2020年6月相比，上涨了近300%。</blockquote></p><p> Things are slowly getting better for the industry. United Airlines, for instance, said Monday it expects&nbsp;a profit in July. It would be the airline’s first monthly profit since January 2020.</p><p><blockquote>该行业的情况正在慢慢好转。例如，联合航空周一表示，预计7月份将实现盈利。这将是该航空公司自2020年1月以来首次实现月度盈利。</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>Boeing’s Newest Jet Is Delayed. Other Issues Are More Important.<blockquote>波音公司最新的喷气式飞机延误了。其他问题更为重要。</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\">\nBoeing’s Newest Jet Is Delayed. Other Issues Are More Important.<blockquote>波音公司最新的喷气式飞机延误了。其他问题更为重要。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-28 22:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The commercial aerospace giant Boeing got a bit of bad news about its latest 777 jet, the 777X. The Federal Aviation Administration told the company recently the jet likely won’t be approved for commercial service until mid-2023.</p><p><blockquote>商业航空航天巨头波音公司收到了一些关于其最新777喷气式飞机777X的坏消息。美国联邦航空管理局最近告诉该公司，这架飞机可能要到2023年中期才会被批准投入商业服务。</blockquote></p><p> That timeline, contained in a May letter from the regulator to the company, is longer than investors might have expected, but it isn’t actually all that bad for the stock. Boeing didn’t immediately reply to a request for comment.</p><p><blockquote>监管机构5月份致该公司的一封信中包含的时间表比投资者预期的要长，但实际上对该股来说并没有那么糟糕。波音公司没有立即回复置评请求。</blockquote></p><p> The 777X took its maiden test flight back in&nbsp;January 2020. That might have put it on track to be approved by mid-2021, based on the way the industry worked a few years ago. Consider that the&nbsp;737 MAX&nbsp;jet took its initial flight in early 2016 and was approved for service about 14 months later. Deliveries began around mid-2017.</p><p><blockquote>777X于2020年1月进行了首次试飞。根据该行业几年前的运作方式，这可能会使其有望在2021年中期获得批准。考虑到737 MAX喷气式飞机于2016年初首飞，并在大约14个月后获准服役。交付于2017年中期左右开始。</blockquote></p><p> But the MAX, of course, was grounded in March 2019 following two deadly crashes within five months. It took&nbsp;20-plus months&nbsp;of design modifications, additional testing, and regulatory oversight, for Boeing to win permission for the jet to carry passengers again.</p><p><blockquote>但MAX在五个月内发生两起致命事故后，于2019年3月停飞。波音公司花了20多个月的设计修改、额外测试和监管监督，才获得该飞机再次载客的许可。</blockquote></p><p> The MAX situation caused changes at Boeing, including new&nbsp;safety committees, as well as alterations to the FAA’s&nbsp;oversight process. Those shifts could be stretching out the approval process for new planes. The pandemic probably didn’t help the 777x approval timeline either.</p><p><blockquote>MAX的情况引起了波音公司的变化，包括新的安全委员会，以及美国联邦航空局监督流程的改变。这些转变可能会延长新飞机的审批流程。疫情可能也没有帮助777x的批准时间表。</blockquote></p><p> Regardless of the reasons, the approval process has been slow. Boeing investors aren’t thrilled with news of the delay, although deliveries of MAX jets and the recovery of the commercial aerospace business are bigger concerns. Shares were down about 2.8% at $241.56 in early trading, while the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average&nbsp;were nearly flat.</p><p><blockquote>不管是什么原因，审批过程一直很慢。波音投资者对延误的消息并不感到兴奋，尽管MAX喷气式飞机的交付和商业航空航天业务的复苏是更大的担忧。早盘股价下跌约2.8%，至241.56美元，而标准普尔500指数和道琼斯工业平均指数几乎持平。</blockquote></p><p> Vertical Research Partners analyst&nbsp;Rob Stallard&nbsp;summed up all of the positives and negatives for Boeing in a Monday report. The 777X delay is a regulatory problem, but it is only one of three he mentioned. China, for instance, hasn’t reapproved the 737 MAX yet, and the 787 still faces some reviews.</p><p><blockquote>Vertical Research Partners分析师Rob Stallard在周一的一份报告中总结了波音公司的所有积极和消极因素。777X延迟是一个监管问题，但这只是他提到的三个问题之一。例如，中国尚未重新批准737 MAX，787仍面临一些审查。</blockquote></p><p> On the positive side of the equation, new orders for the 737 MAX are starting to come in. He expects&nbsp;United Airlines(UAL) to announce an order for about 100 MAX jets in coming days.</p><p><blockquote>从积极的一面来看，737 MAX的新订单开始到来。他预计联合航空（UAL）将在未来几天宣布约100架MAX喷气式飞机的订单。</blockquote></p><p> The “roller coaster ride continues” for Boeing stock, he said, noting that “this week’s events probably don’t have an immediate impact on our numbers.” His target price for Boeing stock remains $242 a share. He rates shares at Hold.</p><p><blockquote>他表示，波音股票的“过山车之旅仍在继续”，并指出“本周的事件可能不会对我们的数据产生直接影响。”他对波音股票的目标价仍为每股242美元。他将股票评级为持有。</blockquote></p><p> Stallard is a little more bearish than his peers. Overall, about 57% of analysts covering the stock rate the shares at Buy. The&nbsp;average&nbsp;Buy-rating ratio for stocks in the S&amp;P 500 is about 55%. The averageprice targetamong analysts is about $267.</p><p><blockquote>斯塔拉德比他的同行更悲观一些。总体而言，约57%的分析师将该股评级为买入。标普500股票的平均买入评级比率约为55%。分析师的平均目标价约为267美元。</blockquote></p><p> The biggest issue facing the entire commercial aerospace industry is postpandemic demand. June 2021 U.S. commercial air travel is down&nbsp;roughly 25%&nbsp;compared with 2019 levels. But it is up almost 300% compared with June 2020.</p><p><blockquote>整个商业航天行业面临的最大问题是大流行后的需求。与2019年相比，2021年6月美国商业航空旅行下降了约25%。但与2020年6月相比，上涨了近300%。</blockquote></p><p> Things are slowly getting better for the industry. United Airlines, for instance, said Monday it expects&nbsp;a profit in July. It would be the airline’s first monthly profit since January 2020.</p><p><blockquote>该行业的情况正在慢慢好转。例如，联合航空周一表示，预计7月份将实现盈利。这将是该航空公司自2020年1月以来首次实现月度盈利。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/faa-delay-boeing-777x-jet-stock-51624889202?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":{"BA":"波音"},"source_url":"https://www.barrons.com/articles/faa-delay-boeing-777x-jet-stock-51624889202?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184667820","content_text":"The commercial aerospace giant Boeing got a bit of bad news about its latest 777 jet, the 777X. The Federal Aviation Administration told the company recently the jet likely won’t be approved for commercial service until mid-2023.\nThat timeline, contained in a May letter from the regulator to the company, is longer than investors might have expected, but it isn’t actually all that bad for the stock. Boeing didn’t immediately reply to a request for comment.\nThe 777X took its maiden test flight back in January 2020. That might have put it on track to be approved by mid-2021, based on the way the industry worked a few years ago. Consider that the 737 MAX jet took its initial flight in early 2016 and was approved for service about 14 months later. Deliveries began around mid-2017.\nBut the MAX, of course, was grounded in March 2019 following two deadly crashes within five months. It took 20-plus months of design modifications, additional testing, and regulatory oversight, for Boeing to win permission for the jet to carry passengers again.\nThe MAX situation caused changes at Boeing, including new safety committees, as well as alterations to the FAA’s oversight process. Those shifts could be stretching out the approval process for new planes. The pandemic probably didn’t help the 777x approval timeline either.\nRegardless of the reasons, the approval process has been slow. Boeing investors aren’t thrilled with news of the delay, although deliveries of MAX jets and the recovery of the commercial aerospace business are bigger concerns. Shares were down about 2.8% at $241.56 in early trading, while the S&P 500 and Dow Jones Industrial Average were nearly flat.\nVertical Research Partners analyst Rob Stallard summed up all of the positives and negatives for Boeing in a Monday report. The 777X delay is a regulatory problem, but it is only one of three he mentioned. China, for instance, hasn’t reapproved the 737 MAX yet, and the 787 still faces some reviews.\nOn the positive side of the equation, new orders for the 737 MAX are starting to come in. He expects United Airlines(UAL) to announce an order for about 100 MAX jets in coming days.\nThe “roller coaster ride continues” for Boeing stock, he said, noting that “this week’s events probably don’t have an immediate impact on our numbers.” His target price for Boeing stock remains $242 a share. He rates shares at Hold.\nStallard is a little more bearish than his peers. Overall, about 57% of analysts covering the stock rate the shares at Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 55%. The averageprice targetamong analysts is about $267.\nThe biggest issue facing the entire commercial aerospace industry is postpandemic demand. June 2021 U.S. commercial air travel is down roughly 25% compared with 2019 levels. But it is up almost 300% compared with June 2020.\nThings are slowly getting better for the industry. United Airlines, for instance, said Monday it expects a profit in July. It would be the airline’s first monthly profit since January 2020.","news_type":1,"symbols_score_info":{"BA":0.9}},"isVote":1,"tweetType":1,"viewCount":1543,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350587862,"gmtCreate":1616231454756,"gmtModify":1634526635719,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"powell lol hoping for good news","listText":"powell lol hoping for good news","text":"powell lol hoping for good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350587862","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohu8.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1643,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350975685,"gmtCreate":1616156223347,"gmtModify":1634526966854,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"go go pot company&nbsp;","listText":"go go pot company&nbsp;","text":"go go pot company","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350975685","repostId":"1138846673","repostType":4,"repost":{"id":"1138846673","kind":"news","pubTimestamp":1616152403,"share":"https://www.laohu8.com/m/news/1138846673?lang=zh_CN&edition=full","pubTime":"2021-03-19 19:13","market":"us","language":"en","title":"Better Pot Stock: Sundial Growers or Tilray?<blockquote>更好的大麻股票：Sundial Growers还是Tilray？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1138846673","media":"Motley Fool","summary":"Here's how these two hot marijuana stocks compare.No cannabis stocks have attracted more attention i","content":"<p>Here's how these two hot marijuana stocks compare.No cannabis stocks have attracted more attention in 2021 so far than<b>Sundial Growers</b>(NASDAQ:SNDL)and<b>Tilray</b>(NASDAQ:TLRY). That attention has been overwhelmingly positive, considering that the share prices for both companies have almost tripled year to date.</p><p><blockquote>以下是这两只热门大麻股票的比较。到目前为止，2021年没有哪只大麻股票比<b>日晷种植者</b>（纳斯达克：SNDL）及<b>蒂尔雷</b>（纳斯达克：TLRY）。考虑到今年迄今为止两家公司的股价几乎上涨了两倍，这种关注绝大多数是积极的。</blockquote></p><p>However, the excitement of being in the limelight can fade quickly. Which of these two pot stocks is the better pick going forward? Here's how Sundial and Tilray stack up against each other.</p><p><blockquote>然而，出风头的兴奋感会很快消退。这两只大麻股中哪一只是未来更好的选择？以下是Sundial和Tilray的对比。</blockquote></p><p><b>Growth</b></p><p><blockquote><b>增长</b></blockquote></p><p>Tilray's revenuejumped 20.5% year over year in the fourth quarterto $56.6 million. The company's international medical cannabis sales skyrocketed 191%, while its Canadian adult-use recreational marijuana sales soared 49%. The only fly in the ointment for Tilray was its hemp segment, which experienced an 18% revenue decline.</p><p><blockquote>Tilray第四季度收入同比增长20.5%至5660万美元。该公司的国际医用大麻销售额猛增191%，而加拿大成人休闲大麻销售额猛增49%。Tilray唯一美中不足的是其大麻部门，收入下降了18%。</blockquote></p><p>Sundial announced its Q4 results on Wednesday, and its story wasn't nearly as good as Tilray's. The company reported net cannabis revenue of 13.9 million in Canadian dollars. While this reflected an 8% increase from the prior quarter, Sundial's revenue was down more than 5% year over year.</p><p><blockquote>Sundial周三公布了第四季度业绩，其业绩远不如Tilray。该公司报告大麻净收入为1390万加元。虽然这比上一季度增长了8%，但Sundial的收入同比下降了5%以上。</blockquote></p><p>Both Sundial and Tilray have opportunities to grow in the Canadian market, especially as the country's Cannabis 2.0 derivatives market continues to pick up momentum. However, Tilray definitely will have an advantage.</p><p><blockquote>Sundial和Tilray都有机会在加拿大市场发展，特别是随着该国大麻2.0衍生品市场继续增长。然而，Tilray肯定会有优势。</blockquote></p><p>Tilray's merger with<b>Aphria</b>(NASDAQ:APHA)is expected to close in the second quarter of 2021. The combined company will rank as the biggest global cannabis producer based on revenue. It will also claim the leading market share in the Canadian retail marijuana market.</p><p><blockquote>Tilray与<b>Aphria</b>（纳斯达克：APHA）预计将于2021年第二季度关闭。按收入计算，合并后的公司将成为全球最大的大麻生产商。它还将占据加拿大零售大麻市场的领先市场份额。</blockquote></p><p>The \"new\" Tilray will also be a top player in European medical cannabis markets because Aphria owns a major German cannabis wholesaler. Tilray also operates a large cannabis production facility in Portugal. Sundial doesn't have a presence in Europe at this point.</p><p><blockquote>“新”Tilray也将成为欧洲医用大麻市场的顶级参与者，因为Aphria拥有一家主要的德国大麻批发商。Tilray还在葡萄牙经营一家大型大麻生产设施。Sundial目前在欧洲还没有业务。</blockquote></p><p>Tilray and Aphria also have businesses in the U.S., while Sundial doesn't. Aphria acquired craft-beer maker Sweetwater Brewing, and Tilray owns leading hemp foods manufacturer Manitoba Harvest. The combined company thinks that these operations will give it a great launching pad should federal cannabis reform open the door to jump into the lucrative U.S. cannabis market.</p><p><blockquote>Tilray和Aphria在美国也有业务，而Sundial没有。Aphria收购了精酿啤酒制造商Sweetwater Brewing，Tilray拥有领先的大麻食品制造商Manitoba Harvest。合并后的公司认为，如果联邦大麻改革打开进入利润丰厚的美国大麻市场的大门，这些业务将为其提供一个很好的发射台。</blockquote></p><p><b>Financial position</b></p><p><blockquote><b>财务状况</b></blockquote></p><p>Sundial posted a net loss of CA$64.1 million in the fourth quarter. The company generated an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of CA$5.6 million and had CA$710 million in unrestricted cash as of March 15, 2021.</p><p><blockquote>Sundial第四季度净亏损6410万加元。截至2021年3月15日，该公司调整后的息税折旧摊销前利润(EBITDA)亏损为560万加元，无限制现金为7.1亿加元。</blockquote></p><p>Tilray is in a much stronger financial position even before the Aphria merger. While the company recorded a Q4 net loss of $3 million, it was a huge improvement from the net loss of $219.8 million in the prior-year period. Tilray also generated positive adjusted EBITDA of $2.2 million and had $189.7 million in cash as of the end of 2020.</p><p><blockquote>即使在Aphria合并之前，Tilray的财务状况也要强劲得多。虽然该公司第四季度净亏损为300万美元，但较去年同期2.198亿美元的净亏损有了巨大改善。截至2020年底，Tilray还产生了220万美元的正调整后EBITDA，并拥有1.897亿美元的现金。</blockquote></p><p>The financial situation for Tilray should improve once the Aphria merger closes. Aphria has delivered seven consecutive quarters of increasing adjusted EBITDA profitability. The combined entity expects to realize significant synergies within the two years following the finalization of the transaction.</p><p><blockquote>一旦Aphria合并完成，Tilray的财务状况应该会有所改善。Aphria已连续七个季度实现调整后EBITDA盈利能力增长。合并后的实体预计将在交易完成后的两年内实现显着的协同效应。</blockquote></p><p><b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p>Tilray's market cap currently stands at around $4.5 billion, while Sundial's is close to $2.4 billion. But is Tilray actually worth nearly twice as much as Sundial?</p><p><blockquote>Tilray的市值目前约为45亿美元，而Sundial的市值接近24亿美元。但Tilray的价值实际上是Sundial的近两倍吗？</blockquote></p><p>We can't use earnings-based valuation metrics to compare the two stocks. However, Sundial and Tilray appear to be close using price-to-sales (P/S) ratios. Sundial currently trades at around 24 times trailing-12-month sales, while Tilray trades at a P/S multiple of nearly 23.</p><p><blockquote>我们不能使用基于收益的估值指标来比较这两只股票。然而，从市销率(P/S)来看，Sundial和Tilray似乎很接近。Sundial目前的市盈率约为过去12个月销售额的24倍，而Tilray的市盈率接近23倍。</blockquote></p><p>However, it's important to remember that Tilray's sales continue to rise year over year while Sundial's are still declining year over year. This makes Tilray's valuation more attractive compared to Sundial.</p><p><blockquote>然而，重要的是要记住，Tilray的销售额继续逐年增长，而Sundial的销售额仍在逐年下降。这使得Tilray的估值与Sundial相比更具吸引力。</blockquote></p><p><b>Better pot stock?</b></p><p><blockquote><b>更好的锅汤？</b></blockquote></p><p>This decision isn't difficult. Tilray is growing faster than Sundial and seems to have stronger growth prospects going forward with the Aphria merger on the way. It claims a stronger financial position than Sundial and, to top things off, Tilray's valuation is slightly more attractive right now. On all counts, Tilray appears to be the better pot stock than Sundial.</p><p><blockquote>这个决定并不难。Tilray的增长速度比Sundial更快，并且随着Aphria合并的进行，似乎具有更强劲的增长前景。它声称比Sundial拥有更强大的财务状况，最重要的是，Tilray的估值目前略有吸引力。从各方面来看，Tilray似乎比Sundial更好。</blockquote></p><p>However, I don't think that either of these stocks is a great choice for investors. There are several other stocks that are in a better position to profit from the U.S. cannabis market growth that are more attractively valued than either Sundial Growers or Tilray.</p><p><blockquote>然而，我认为这两只股票对于投资者来说都不是一个很好的选择。还有其他几只股票能够更好地从美国大麻市场的增长中获利，它们的估值比Sundial Growers或Tilray更具吸引力。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Better Pot Stock: Sundial Growers or Tilray?<blockquote>更好的大麻股票：Sundial Growers还是Tilray？</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\">\nBetter Pot Stock: Sundial Growers or Tilray?<blockquote>更好的大麻股票：Sundial Growers还是Tilray？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-19 19:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Here's how these two hot marijuana stocks compare.No cannabis stocks have attracted more attention in 2021 so far than<b>Sundial Growers</b>(NASDAQ:SNDL)and<b>Tilray</b>(NASDAQ:TLRY). That attention has been overwhelmingly positive, considering that the share prices for both companies have almost tripled year to date.</p><p><blockquote>以下是这两只热门大麻股票的比较。到目前为止，2021年没有哪只大麻股票比<b>日晷种植者</b>（纳斯达克：SNDL）及<b>蒂尔雷</b>（纳斯达克：TLRY）。考虑到今年迄今为止两家公司的股价几乎上涨了两倍，这种关注绝大多数是积极的。</blockquote></p><p>However, the excitement of being in the limelight can fade quickly. Which of these two pot stocks is the better pick going forward? Here's how Sundial and Tilray stack up against each other.</p><p><blockquote>然而，出风头的兴奋感会很快消退。这两只大麻股中哪一只是未来更好的选择？以下是Sundial和Tilray的对比。</blockquote></p><p><b>Growth</b></p><p><blockquote><b>增长</b></blockquote></p><p>Tilray's revenuejumped 20.5% year over year in the fourth quarterto $56.6 million. The company's international medical cannabis sales skyrocketed 191%, while its Canadian adult-use recreational marijuana sales soared 49%. The only fly in the ointment for Tilray was its hemp segment, which experienced an 18% revenue decline.</p><p><blockquote>Tilray第四季度收入同比增长20.5%至5660万美元。该公司的国际医用大麻销售额猛增191%，而加拿大成人休闲大麻销售额猛增49%。Tilray唯一美中不足的是其大麻部门，收入下降了18%。</blockquote></p><p>Sundial announced its Q4 results on Wednesday, and its story wasn't nearly as good as Tilray's. The company reported net cannabis revenue of 13.9 million in Canadian dollars. While this reflected an 8% increase from the prior quarter, Sundial's revenue was down more than 5% year over year.</p><p><blockquote>Sundial周三公布了第四季度业绩，其业绩远不如Tilray。该公司报告大麻净收入为1390万加元。虽然这比上一季度增长了8%，但Sundial的收入同比下降了5%以上。</blockquote></p><p>Both Sundial and Tilray have opportunities to grow in the Canadian market, especially as the country's Cannabis 2.0 derivatives market continues to pick up momentum. However, Tilray definitely will have an advantage.</p><p><blockquote>Sundial和Tilray都有机会在加拿大市场发展，特别是随着该国大麻2.0衍生品市场继续增长。然而，Tilray肯定会有优势。</blockquote></p><p>Tilray's merger with<b>Aphria</b>(NASDAQ:APHA)is expected to close in the second quarter of 2021. The combined company will rank as the biggest global cannabis producer based on revenue. It will also claim the leading market share in the Canadian retail marijuana market.</p><p><blockquote>Tilray与<b>Aphria</b>（纳斯达克：APHA）预计将于2021年第二季度关闭。按收入计算，合并后的公司将成为全球最大的大麻生产商。它还将占据加拿大零售大麻市场的领先市场份额。</blockquote></p><p>The \"new\" Tilray will also be a top player in European medical cannabis markets because Aphria owns a major German cannabis wholesaler. Tilray also operates a large cannabis production facility in Portugal. Sundial doesn't have a presence in Europe at this point.</p><p><blockquote>“新”Tilray也将成为欧洲医用大麻市场的顶级参与者，因为Aphria拥有一家主要的德国大麻批发商。Tilray还在葡萄牙经营一家大型大麻生产设施。Sundial目前在欧洲还没有业务。</blockquote></p><p>Tilray and Aphria also have businesses in the U.S., while Sundial doesn't. Aphria acquired craft-beer maker Sweetwater Brewing, and Tilray owns leading hemp foods manufacturer Manitoba Harvest. The combined company thinks that these operations will give it a great launching pad should federal cannabis reform open the door to jump into the lucrative U.S. cannabis market.</p><p><blockquote>Tilray和Aphria在美国也有业务，而Sundial没有。Aphria收购了精酿啤酒制造商Sweetwater Brewing，Tilray拥有领先的大麻食品制造商Manitoba Harvest。合并后的公司认为，如果联邦大麻改革打开进入利润丰厚的美国大麻市场的大门，这些业务将为其提供一个很好的发射台。</blockquote></p><p><b>Financial position</b></p><p><blockquote><b>财务状况</b></blockquote></p><p>Sundial posted a net loss of CA$64.1 million in the fourth quarter. The company generated an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of CA$5.6 million and had CA$710 million in unrestricted cash as of March 15, 2021.</p><p><blockquote>Sundial第四季度净亏损6410万加元。截至2021年3月15日，该公司调整后的息税折旧摊销前利润(EBITDA)亏损为560万加元，无限制现金为7.1亿加元。</blockquote></p><p>Tilray is in a much stronger financial position even before the Aphria merger. While the company recorded a Q4 net loss of $3 million, it was a huge improvement from the net loss of $219.8 million in the prior-year period. Tilray also generated positive adjusted EBITDA of $2.2 million and had $189.7 million in cash as of the end of 2020.</p><p><blockquote>即使在Aphria合并之前，Tilray的财务状况也要强劲得多。虽然该公司第四季度净亏损为300万美元，但较去年同期2.198亿美元的净亏损有了巨大改善。截至2020年底，Tilray还产生了220万美元的正调整后EBITDA，并拥有1.897亿美元的现金。</blockquote></p><p>The financial situation for Tilray should improve once the Aphria merger closes. Aphria has delivered seven consecutive quarters of increasing adjusted EBITDA profitability. The combined entity expects to realize significant synergies within the two years following the finalization of the transaction.</p><p><blockquote>一旦Aphria合并完成，Tilray的财务状况应该会有所改善。Aphria已连续七个季度实现调整后EBITDA盈利能力增长。合并后的实体预计将在交易完成后的两年内实现显着的协同效应。</blockquote></p><p><b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p>Tilray's market cap currently stands at around $4.5 billion, while Sundial's is close to $2.4 billion. But is Tilray actually worth nearly twice as much as Sundial?</p><p><blockquote>Tilray的市值目前约为45亿美元，而Sundial的市值接近24亿美元。但Tilray的价值实际上是Sundial的近两倍吗？</blockquote></p><p>We can't use earnings-based valuation metrics to compare the two stocks. However, Sundial and Tilray appear to be close using price-to-sales (P/S) ratios. Sundial currently trades at around 24 times trailing-12-month sales, while Tilray trades at a P/S multiple of nearly 23.</p><p><blockquote>我们不能使用基于收益的估值指标来比较这两只股票。然而，从市销率(P/S)来看，Sundial和Tilray似乎很接近。Sundial目前的市盈率约为过去12个月销售额的24倍，而Tilray的市盈率接近23倍。</blockquote></p><p>However, it's important to remember that Tilray's sales continue to rise year over year while Sundial's are still declining year over year. This makes Tilray's valuation more attractive compared to Sundial.</p><p><blockquote>然而，重要的是要记住，Tilray的销售额继续逐年增长，而Sundial的销售额仍在逐年下降。这使得Tilray的估值与Sundial相比更具吸引力。</blockquote></p><p><b>Better pot stock?</b></p><p><blockquote><b>更好的锅汤？</b></blockquote></p><p>This decision isn't difficult. Tilray is growing faster than Sundial and seems to have stronger growth prospects going forward with the Aphria merger on the way. It claims a stronger financial position than Sundial and, to top things off, Tilray's valuation is slightly more attractive right now. On all counts, Tilray appears to be the better pot stock than Sundial.</p><p><blockquote>这个决定并不难。Tilray的增长速度比Sundial更快，并且随着Aphria合并的进行，似乎具有更强劲的增长前景。它声称比Sundial拥有更强大的财务状况，最重要的是，Tilray的估值目前略有吸引力。从各方面来看，Tilray似乎比Sundial更好。</blockquote></p><p>However, I don't think that either of these stocks is a great choice for investors. There are several other stocks that are in a better position to profit from the U.S. cannabis market growth that are more attractively valued than either Sundial Growers or Tilray.</p><p><blockquote>然而，我认为这两只股票对于投资者来说都不是一个很好的选择。还有其他几只股票能够更好地从美国大麻市场的增长中获利，它们的估值比Sundial Growers或Tilray更具吸引力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/19/better-pot-stock-sundial-growers-or-tilray/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/03/19/better-pot-stock-sundial-growers-or-tilray/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138846673","content_text":"Here's how these two hot marijuana stocks compare.No cannabis stocks have attracted more attention in 2021 so far thanSundial Growers(NASDAQ:SNDL)andTilray(NASDAQ:TLRY). That attention has been overwhelmingly positive, considering that the share prices for both companies have almost tripled year to date.However, the excitement of being in the limelight can fade quickly. Which of these two pot stocks is the better pick going forward? Here's how Sundial and Tilray stack up against each other.GrowthTilray's revenuejumped 20.5% year over year in the fourth quarterto $56.6 million. The company's international medical cannabis sales skyrocketed 191%, while its Canadian adult-use recreational marijuana sales soared 49%. The only fly in the ointment for Tilray was its hemp segment, which experienced an 18% revenue decline.Sundial announced its Q4 results on Wednesday, and its story wasn't nearly as good as Tilray's. The company reported net cannabis revenue of 13.9 million in Canadian dollars. While this reflected an 8% increase from the prior quarter, Sundial's revenue was down more than 5% year over year.Both Sundial and Tilray have opportunities to grow in the Canadian market, especially as the country's Cannabis 2.0 derivatives market continues to pick up momentum. However, Tilray definitely will have an advantage.Tilray's merger withAphria(NASDAQ:APHA)is expected to close in the second quarter of 2021. The combined company will rank as the biggest global cannabis producer based on revenue. It will also claim the leading market share in the Canadian retail marijuana market.The \"new\" Tilray will also be a top player in European medical cannabis markets because Aphria owns a major German cannabis wholesaler. Tilray also operates a large cannabis production facility in Portugal. Sundial doesn't have a presence in Europe at this point.Tilray and Aphria also have businesses in the U.S., while Sundial doesn't. Aphria acquired craft-beer maker Sweetwater Brewing, and Tilray owns leading hemp foods manufacturer Manitoba Harvest. The combined company thinks that these operations will give it a great launching pad should federal cannabis reform open the door to jump into the lucrative U.S. cannabis market.Financial positionSundial posted a net loss of CA$64.1 million in the fourth quarter. The company generated an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of CA$5.6 million and had CA$710 million in unrestricted cash as of March 15, 2021.Tilray is in a much stronger financial position even before the Aphria merger. While the company recorded a Q4 net loss of $3 million, it was a huge improvement from the net loss of $219.8 million in the prior-year period. Tilray also generated positive adjusted EBITDA of $2.2 million and had $189.7 million in cash as of the end of 2020.The financial situation for Tilray should improve once the Aphria merger closes. Aphria has delivered seven consecutive quarters of increasing adjusted EBITDA profitability. The combined entity expects to realize significant synergies within the two years following the finalization of the transaction.ValuationTilray's market cap currently stands at around $4.5 billion, while Sundial's is close to $2.4 billion. But is Tilray actually worth nearly twice as much as Sundial?We can't use earnings-based valuation metrics to compare the two stocks. However, Sundial and Tilray appear to be close using price-to-sales (P/S) ratios. Sundial currently trades at around 24 times trailing-12-month sales, while Tilray trades at a P/S multiple of nearly 23.However, it's important to remember that Tilray's sales continue to rise year over year while Sundial's are still declining year over year. This makes Tilray's valuation more attractive compared to Sundial.Better pot stock?This decision isn't difficult. Tilray is growing faster than Sundial and seems to have stronger growth prospects going forward with the Aphria merger on the way. It claims a stronger financial position than Sundial and, to top things off, Tilray's valuation is slightly more attractive right now. On all counts, Tilray appears to be the better pot stock than Sundial.However, I don't think that either of these stocks is a great choice for investors. There are several other stocks that are in a better position to profit from the U.S. cannabis market growth that are more attractively valued than either Sundial Growers or Tilray.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350976922,"gmtCreate":1616156020066,"gmtModify":1634526968259,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"good good .. diamond hands !!!","listText":"good good .. diamond hands !!!","text":"good good .. diamond hands !!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350976922","repostId":"1188846193","repostType":4,"repost":{"id":"1188846193","kind":"news","pubTimestamp":1616152118,"share":"https://www.laohu8.com/m/news/1188846193?lang=zh_CN&edition=full","pubTime":"2021-03-19 19:08","market":"us","language":"en","title":"3 Unbeatable Growth Stocks to Buy If the Market Crashes<blockquote>如果市场崩盘，值得买入的3只无与伦比的成长型股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188846193","media":"Motley Fool","summary":"A plunging stock market would allow investors to scoop up these superior businesses at a discount.Yo","content":"<p>A plunging stock market would allow investors to scoop up these superior businesses at a discount.You might not like what I'm about to say, but history says it's a fact:Stock market crashes are inevitable.</p><p><blockquote>股市暴跌将使投资者能够以折扣价收购这些优质业务。你可能不喜欢我要说的话，但历史告诉我们这是一个事实：股市崩盘是不可避免的。</blockquote></p><p>Over the past 71 years, the benchmark<b>S&amp;P 500</b>has undergone 38 corrections and crashes that led to a double-digit decline in the index. For you math-phobes out there, this works out to a double-digit decline once every 1.87 years. Crashes are common, and there are always catalysts waiting in the wings to send the market screaming lower.</p><p><blockquote>71年来，基准<b>标普500</b>经历了38次调整和崩盘，导致该指数出现两位数下跌。对于你们这些数学恐惧症患者来说，这相当于每1.87年出现一次两位数的下降。崩盘很常见，总有催化剂在等待，让市场大幅走低。</blockquote></p><p>For example, the Shiller price-to-earnings (P/E) ratio for the S&amp;P 500 -- a measure of the average inflation-adjusted earnings from the previous 10 years -- nearly hit 36 this week. That's well over double the 150-year average of 16.8. What's more, the previous four times the S&amp;P 500's Shiller P/E ratio topped (and sustained) 30, the indexlost a minimum of 20%.</p><p><blockquote>例如，标普500的席勒市盈率（P/E）——衡量过去10年经通胀调整后的平均收益——本周几乎达到36。这是150年平均水平16.8的两倍多。更重要的是，在标普500席勒市盈率突破（并持续）30之前的四次，该指数至少下跌了20%。</blockquote></p><p>Additionally, margin use among retail investors is up. According to a Harris poll released in September, 43% of retail investors are relying on leverage, whether that means buying on margin or using options in an attempt to time the market. If things get moving in the wrong direction, margin calls could seriously hurt the stock market.</p><p><blockquote>此外，散户投资者的保证金使用量也在上升。根据哈里斯9月份发布的一项民意调查，43%的散户投资者依赖杠杆，无论这意味着用保证金购买还是使用期权来把握市场时机。如果事情朝着错误的方向发展，保证金评级可能会严重损害股市。</blockquote></p><p>But there's good news here, as well.</p><p><blockquote>但这里也有好消息。</blockquote></p><p>Each and every stock market crash and correction in history has proved to be a buying opportunity for long-term investors. Eventually, a bull market always erases a correction or bear market decline. With this in mind, the following three unbeatablegrowth stockswould be the perfect buys if the market crashes.</p><p><blockquote>历史上的每一次股市崩盘和调整都被证明是长期投资者的买入机会。最终，牛市总是会抹去调整或熊市下跌。考虑到这一点，如果市场崩盘，以下三只无与伦比的成长型股票将是完美的买入对象。</blockquote></p><p><b>CrowdStrike Holdings</b></p><p><blockquote><b>众击控股</b></blockquote></p><p>Following its stellar fiscal fourth-quarter operating results,cybersecurity stock<b>CrowdStrike Holdings</b>(NASDAQ:CRWD)is looking like an absolute must-own if a market crash occurs.</p><p><blockquote>继第四财季运营业绩出色之后，网络安全股票<b>众击控股</b>（纳斯达克：CRWD）看起来绝对是市场崩盘时必须拥有的股票。</blockquote></p><p>On a macro basis, there should be a double-digit annualized growth opportunity for cybersecurity companies throughout the decade. Businesses were already moving their data into the cloud well before the coronavirus pandemic hit. The past year has simply accelerated an existing trend and generated even more demand for third-party solutions.</p><p><blockquote>从宏观角度来看，网络安全公司在整个十年中应该会有两位数的年化增长机会。早在冠状病毒大流行爆发之前，企业就已经将数据转移到云中。过去的一年只是加速了现有的趋势，并产生了对第三方解决方案的更多需求。</blockquote></p><p>What makes CrowdStrike such a studis the company's Falcon security platform. Falcon is cloud native, responsible for overseeing more than 3 trillion events each week, and is leaning on artificial intelligence (AI) to grow smarter over time. In layman's terms, Falcon can respond to potential threats much faster than in-house security solutions, and in many cases, it can do so at a cheaper overall cost.</p><p><blockquote>是什么让CrowdStrike如此成功研究了该公司的Falcon安全平台。Falcon是云原生的，每周负责监督超过3万亿次事件，并依靠人工智能（AI）随着时间的推移变得更加智能。通俗地说，Falcon可以比内部安全解决方案更快地响应潜在威胁，而且在许多情况下，它可以以更低的总体成本做到这一点。</blockquote></p><p>What's become readily apparent is that CrowdStrike's clients love the product. Over the past 15 quarters (three years, nine months), the percentage of customers with at least four cloud module subscriptions has catapulted from 9% to 63%. What's more, the company has a 12-quarter streak of its dollar-based retention rate topping at least 123%. This means existing customers are spending at least 23% more year over year on subscription services. That's not a surprising figure when you realize that 98% of clients are retained year over year.</p><p><blockquote>显而易见的是，CrowdStrike的客户喜欢这款产品。在过去的15个季度（三年零九个月）中，拥有至少四个云模块订阅的客户比例从9%跃升至63%。更重要的是，该公司以美元计算的保留率已连续12个季度超过至少123%。这意味着现有客户在订阅服务上的支出同比至少增加了23%。当你意识到98%的客户年复一年地被保留时，这个数字并不令人惊讶。</blockquote></p><p>But possibly the craziest thing of all about CrowdStrike is that the company's long-term subscription gross margin target of 75% to 80%-plushas already been achieved, despite the company still being in the early innings of its growth. CrowdStrike has all the makings of a dominant force in cybersecurity solutions.</p><p><blockquote>但CrowdStrike最疯狂的事情可能是，尽管该公司仍处于增长的早期阶段，但该公司75%至80%以上的长期订阅毛利率目标已经实现。CrowdStrike具备网络安全解决方案主导力量的所有条件。</blockquote></p><p><b>Teladoc Health</b></p><p><blockquote><b>Teladoc健康</b></blockquote></p><p>Another growth stock investors can comfortably pile into during a stock market crash is telemedicine giant<b>Teladoc Health</b>(NYSE:TDOC).</p><p><blockquote>投资者在股市崩盘期间可以轻松买入的另一只成长型股票是远程医疗巨头<b>Teladoc健康</b>（纽约证券交易所代码：TDOC）。</blockquote></p><p>As you might have rightly guessed, Teladoc benefited in a big way from the coronavirus pandemic. With physicians and hospitals aiming to keep potentially infected patients and people with chronic health conditions in their homes, the medical community turned in big numbers for virtual visits. In total, Teladoc handled just shy of 10.6 million virtual visits in 2020, up from 4.14 million visits in the prior-year period.</p><p><blockquote>正如您可能正确猜测的那样，Teladoc从冠状病毒大流行中受益匪浅。随着医生和医院的目标是将潜在感染的患者和慢性病患者留在家中，医学界大量进行虚拟就诊。Teladoc在2020年总共处理了近1060万次虚拟访问，高于去年同期的414万次访问。</blockquote></p><p>The big question is: Can Teladoc's growth continue in a post-pandemic environment? The answer ishighly likely to be yes. That's because telehealth is extremely convenient for patients and can help physicians better monitor chronically ill patients. Best of all, virtual visits are usually billed at a lower rate than office visits, which makes telehealth an instant hit with health insurers.</p><p><blockquote>最大的问题是：Teladoc的增长能否在大流行后的环境中继续？答案很可能是肯定的。这是因为远程医疗对患者来说非常方便，可以帮助医生更好地监测慢性病患者。最重要的是，虚拟就诊的费用通常低于办公室就诊，这使得远程医疗立即受到健康保险公司的欢迎。</blockquote></p><p>Teladoc's acquisition ofleading applied health-signals companyLivongo Health also gives it a competitive edge. Livongo is a data-driven company that relies on artificial intelligence (AI) to send its subscribers tips and nudges to help them lead healthier lives. Livongo has secured more than 500,000 diabetics as subscribers and has plans to expand its service to cover hypertension and weight management. In my estimate, Livongo's services could encompass in the neighborhood of 40% of the U.S. population.</p><p><blockquote>Teladoc收购领先的应用健康信号公司Livongo Health也为其带来了竞争优势。Livongo是一家数据驱动型公司，依靠人工智能(AI)向订户发送提示和提示，帮助他们过上更健康的生活。Livongo已获得超过500,000名糖尿病患者的订户，并计划将其服务扩展到高血压和体重管理。据我估计，Livongo的服务可以覆盖大约40%的美国人口。</blockquote></p><p></p><p>As a combined entity, Teladoc and Livongo have the ability to cross-sell, too. With both companies working toward personalizing the care process and improving care oversight, Teladoc looks like a good bet to be one of the fastest-growinghealthcare stocksof the decade.</p><p><blockquote>作为合并后的实体，Teladoc和Livongo也有能力进行交叉销售。随着两家公司都致力于个性化护理流程和改善护理监督，Teladoc看起来很有可能成为十年来增长最快的医疗保健股票之一。</blockquote></p><p><b>Amazon</b></p><p><blockquote><b>亚马逊</b></blockquote></p><p>Finally, when the stock market crashes next, don't be afraid to pull the trigger on shares of e-commerce kingpin<b>Amazon</b>(NASDAQ:AMZN).</p><p><blockquote>最后，当下一次股市崩盘时，不要害怕扣动电子商务巨头股票的扳机<b>亚马逊</b>（纳斯达克：AMZN）。</blockquote></p><p>If you're noticing a trend here, it's that many of the fastest-growing companies benefited from the pandemic -- more specifically, the shift toward online consumption or data storage. Last year, Amazonregistered $386.1 billion in sales, which represents an increase of $105.6 billion, or 38%, from the prior-year period. No one on Wall Street is used to megacap companies growing this robustly.</p><p><blockquote>如果你注意到这里的一个趋势，那就是许多增长最快的公司受益于疫情——更具体地说，是向在线消费或数据存储的转变。去年，亚马逊的销售额为3861亿美元，比上年同期增加了1056亿美元，即38%。华尔街没有人习惯大型公司如此强劲的增长。</blockquote></p><p>One reason Amazon is such a successful company is its sheer dominance of online retail. According to eMarketer, Amazon's U.S. online retail share is expected tojump 100 basis points to 39.7% in 2021. Put another way, $0.40 of every $1 spent online in the U.S. is routed through Amazon.</p><p><blockquote>亚马逊如此成功的原因之一是它在在线零售领域的绝对主导地位。根据eMarketer的数据，亚马逊在美国的在线零售份额预计将在2021年跃升100个基点至39.7%。换句话说，在美国网上消费的每1美元中，有0.40美元是通过亚马逊进行的。</blockquote></p><p>Even though retail margins are nothing to write home about, this sheer dominance has helped the company sign up well over 150 million people worldwide to a Prime subscription. The fees Amazon generates from Prime help it to undercut brick-and-mortar retailers on price.</p><p><blockquote>尽管零售利润率没什么值得大书特书的，但这种绝对的主导地位帮助该公司在全球范围内吸引了超过1.5亿人订阅Prime。亚马逊从Prime产生的费用有助于其在价格上低于实体零售商。</blockquote></p><p>Amazon is also a leader in cloud infrastructure services. Amazon Web Services (AWS) grew sales by 30% in 2020 -- i.e., during the worst economic downturn in decades. Despite accounting for only 11.8% of total sales last year, the exceptionally high margins associated with cloud infrastructure helped AWS bring in $13.5 billion of Amazon's $22.9 billion in operating income. As AWS grows into a larger percentage of total sales,operating cash flow is going to soar.</p><p><blockquote>亚马逊也是云基础设施服务领域的领导者。亚马逊网络服务(AWS)的销售额在2020年增长了30%，即在几十年来最严重的经济衰退期间。尽管去年仅占总销售额的11.8%，但与云基础设施相关的异常高的利润率帮助AWS带来了亚马逊229亿美元营业收入中的135亿美元。随着AWS在总销售额中所占的比例越来越大，运营现金流将会飙升。</blockquote></p><p>After regularly being valued at between 23 and 37 times year-end cash flow, Amazon's current share price has it on pace for a multiple relative to cash flow of sub-15 in 2023. That makes it a bargain you'll want to scoop up on any major dip.</p><p><blockquote>亚马逊的估值通常为年终现金流的23至37倍，目前的股价有望在2023年达到15以下现金流的倍数。这使得它成为您在任何重大下跌时都会想要买入的便宜货。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Unbeatable Growth Stocks to Buy If the Market Crashes<blockquote>如果市场崩盘，值得买入的3只无与伦比的成长型股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Unbeatable Growth Stocks to Buy If the Market Crashes<blockquote>如果市场崩盘，值得买入的3只无与伦比的成长型股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-19 19:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A plunging stock market would allow investors to scoop up these superior businesses at a discount.You might not like what I'm about to say, but history says it's a fact:Stock market crashes are inevitable.</p><p><blockquote>股市暴跌将使投资者能够以折扣价收购这些优质业务。你可能不喜欢我要说的话，但历史告诉我们这是一个事实：股市崩盘是不可避免的。</blockquote></p><p>Over the past 71 years, the benchmark<b>S&amp;P 500</b>has undergone 38 corrections and crashes that led to a double-digit decline in the index. For you math-phobes out there, this works out to a double-digit decline once every 1.87 years. Crashes are common, and there are always catalysts waiting in the wings to send the market screaming lower.</p><p><blockquote>71年来，基准<b>标普500</b>经历了38次调整和崩盘，导致该指数出现两位数下跌。对于你们这些数学恐惧症患者来说，这相当于每1.87年出现一次两位数的下降。崩盘很常见，总有催化剂在等待，让市场大幅走低。</blockquote></p><p>For example, the Shiller price-to-earnings (P/E) ratio for the S&amp;P 500 -- a measure of the average inflation-adjusted earnings from the previous 10 years -- nearly hit 36 this week. That's well over double the 150-year average of 16.8. What's more, the previous four times the S&amp;P 500's Shiller P/E ratio topped (and sustained) 30, the indexlost a minimum of 20%.</p><p><blockquote>例如，标普500的席勒市盈率（P/E）——衡量过去10年经通胀调整后的平均收益——本周几乎达到36。这是150年平均水平16.8的两倍多。更重要的是，在标普500席勒市盈率突破（并持续）30之前的四次，该指数至少下跌了20%。</blockquote></p><p>Additionally, margin use among retail investors is up. According to a Harris poll released in September, 43% of retail investors are relying on leverage, whether that means buying on margin or using options in an attempt to time the market. If things get moving in the wrong direction, margin calls could seriously hurt the stock market.</p><p><blockquote>此外，散户投资者的保证金使用量也在上升。根据哈里斯9月份发布的一项民意调查，43%的散户投资者依赖杠杆，无论这意味着用保证金购买还是使用期权来把握市场时机。如果事情朝着错误的方向发展，保证金评级可能会严重损害股市。</blockquote></p><p>But there's good news here, as well.</p><p><blockquote>但这里也有好消息。</blockquote></p><p>Each and every stock market crash and correction in history has proved to be a buying opportunity for long-term investors. Eventually, a bull market always erases a correction or bear market decline. With this in mind, the following three unbeatablegrowth stockswould be the perfect buys if the market crashes.</p><p><blockquote>历史上的每一次股市崩盘和调整都被证明是长期投资者的买入机会。最终，牛市总是会抹去调整或熊市下跌。考虑到这一点，如果市场崩盘，以下三只无与伦比的成长型股票将是完美的买入对象。</blockquote></p><p><b>CrowdStrike Holdings</b></p><p><blockquote><b>众击控股</b></blockquote></p><p>Following its stellar fiscal fourth-quarter operating results,cybersecurity stock<b>CrowdStrike Holdings</b>(NASDAQ:CRWD)is looking like an absolute must-own if a market crash occurs.</p><p><blockquote>继第四财季运营业绩出色之后，网络安全股票<b>众击控股</b>（纳斯达克：CRWD）看起来绝对是市场崩盘时必须拥有的股票。</blockquote></p><p>On a macro basis, there should be a double-digit annualized growth opportunity for cybersecurity companies throughout the decade. Businesses were already moving their data into the cloud well before the coronavirus pandemic hit. The past year has simply accelerated an existing trend and generated even more demand for third-party solutions.</p><p><blockquote>从宏观角度来看，网络安全公司在整个十年中应该会有两位数的年化增长机会。早在冠状病毒大流行爆发之前，企业就已经将数据转移到云中。过去的一年只是加速了现有的趋势，并产生了对第三方解决方案的更多需求。</blockquote></p><p>What makes CrowdStrike such a studis the company's Falcon security platform. Falcon is cloud native, responsible for overseeing more than 3 trillion events each week, and is leaning on artificial intelligence (AI) to grow smarter over time. In layman's terms, Falcon can respond to potential threats much faster than in-house security solutions, and in many cases, it can do so at a cheaper overall cost.</p><p><blockquote>是什么让CrowdStrike如此成功研究了该公司的Falcon安全平台。Falcon是云原生的，每周负责监督超过3万亿次事件，并依靠人工智能（AI）随着时间的推移变得更加智能。通俗地说，Falcon可以比内部安全解决方案更快地响应潜在威胁，而且在许多情况下，它可以以更低的总体成本做到这一点。</blockquote></p><p>What's become readily apparent is that CrowdStrike's clients love the product. Over the past 15 quarters (three years, nine months), the percentage of customers with at least four cloud module subscriptions has catapulted from 9% to 63%. What's more, the company has a 12-quarter streak of its dollar-based retention rate topping at least 123%. This means existing customers are spending at least 23% more year over year on subscription services. That's not a surprising figure when you realize that 98% of clients are retained year over year.</p><p><blockquote>显而易见的是，CrowdStrike的客户喜欢这款产品。在过去的15个季度（三年零九个月）中，拥有至少四个云模块订阅的客户比例从9%跃升至63%。更重要的是，该公司以美元计算的保留率已连续12个季度超过至少123%。这意味着现有客户在订阅服务上的支出同比至少增加了23%。当你意识到98%的客户年复一年地被保留时，这个数字并不令人惊讶。</blockquote></p><p>But possibly the craziest thing of all about CrowdStrike is that the company's long-term subscription gross margin target of 75% to 80%-plushas already been achieved, despite the company still being in the early innings of its growth. CrowdStrike has all the makings of a dominant force in cybersecurity solutions.</p><p><blockquote>但CrowdStrike最疯狂的事情可能是，尽管该公司仍处于增长的早期阶段，但该公司75%至80%以上的长期订阅毛利率目标已经实现。CrowdStrike具备网络安全解决方案主导力量的所有条件。</blockquote></p><p><b>Teladoc Health</b></p><p><blockquote><b>Teladoc健康</b></blockquote></p><p>Another growth stock investors can comfortably pile into during a stock market crash is telemedicine giant<b>Teladoc Health</b>(NYSE:TDOC).</p><p><blockquote>投资者在股市崩盘期间可以轻松买入的另一只成长型股票是远程医疗巨头<b>Teladoc健康</b>（纽约证券交易所代码：TDOC）。</blockquote></p><p>As you might have rightly guessed, Teladoc benefited in a big way from the coronavirus pandemic. With physicians and hospitals aiming to keep potentially infected patients and people with chronic health conditions in their homes, the medical community turned in big numbers for virtual visits. In total, Teladoc handled just shy of 10.6 million virtual visits in 2020, up from 4.14 million visits in the prior-year period.</p><p><blockquote>正如您可能正确猜测的那样，Teladoc从冠状病毒大流行中受益匪浅。随着医生和医院的目标是将潜在感染的患者和慢性病患者留在家中，医学界大量进行虚拟就诊。Teladoc在2020年总共处理了近1060万次虚拟访问，高于去年同期的414万次访问。</blockquote></p><p>The big question is: Can Teladoc's growth continue in a post-pandemic environment? The answer ishighly likely to be yes. That's because telehealth is extremely convenient for patients and can help physicians better monitor chronically ill patients. Best of all, virtual visits are usually billed at a lower rate than office visits, which makes telehealth an instant hit with health insurers.</p><p><blockquote>最大的问题是：Teladoc的增长能否在大流行后的环境中继续？答案很可能是肯定的。这是因为远程医疗对患者来说非常方便，可以帮助医生更好地监测慢性病患者。最重要的是，虚拟就诊的费用通常低于办公室就诊，这使得远程医疗立即受到健康保险公司的欢迎。</blockquote></p><p>Teladoc's acquisition ofleading applied health-signals companyLivongo Health also gives it a competitive edge. Livongo is a data-driven company that relies on artificial intelligence (AI) to send its subscribers tips and nudges to help them lead healthier lives. Livongo has secured more than 500,000 diabetics as subscribers and has plans to expand its service to cover hypertension and weight management. In my estimate, Livongo's services could encompass in the neighborhood of 40% of the U.S. population.</p><p><blockquote>Teladoc收购领先的应用健康信号公司Livongo Health也为其带来了竞争优势。Livongo是一家数据驱动型公司，依靠人工智能(AI)向订户发送提示和提示，帮助他们过上更健康的生活。Livongo已获得超过500,000名糖尿病患者的订户，并计划将其服务扩展到高血压和体重管理。据我估计，Livongo的服务可以覆盖大约40%的美国人口。</blockquote></p><p></p><p>As a combined entity, Teladoc and Livongo have the ability to cross-sell, too. With both companies working toward personalizing the care process and improving care oversight, Teladoc looks like a good bet to be one of the fastest-growinghealthcare stocksof the decade.</p><p><blockquote>作为合并后的实体，Teladoc和Livongo也有能力进行交叉销售。随着两家公司都致力于个性化护理流程和改善护理监督，Teladoc看起来很有可能成为十年来增长最快的医疗保健股票之一。</blockquote></p><p><b>Amazon</b></p><p><blockquote><b>亚马逊</b></blockquote></p><p>Finally, when the stock market crashes next, don't be afraid to pull the trigger on shares of e-commerce kingpin<b>Amazon</b>(NASDAQ:AMZN).</p><p><blockquote>最后，当下一次股市崩盘时，不要害怕扣动电子商务巨头股票的扳机<b>亚马逊</b>（纳斯达克：AMZN）。</blockquote></p><p>If you're noticing a trend here, it's that many of the fastest-growing companies benefited from the pandemic -- more specifically, the shift toward online consumption or data storage. Last year, Amazonregistered $386.1 billion in sales, which represents an increase of $105.6 billion, or 38%, from the prior-year period. No one on Wall Street is used to megacap companies growing this robustly.</p><p><blockquote>如果你注意到这里的一个趋势，那就是许多增长最快的公司受益于疫情——更具体地说，是向在线消费或数据存储的转变。去年，亚马逊的销售额为3861亿美元，比上年同期增加了1056亿美元，即38%。华尔街没有人习惯大型公司如此强劲的增长。</blockquote></p><p>One reason Amazon is such a successful company is its sheer dominance of online retail. According to eMarketer, Amazon's U.S. online retail share is expected tojump 100 basis points to 39.7% in 2021. Put another way, $0.40 of every $1 spent online in the U.S. is routed through Amazon.</p><p><blockquote>亚马逊如此成功的原因之一是它在在线零售领域的绝对主导地位。根据eMarketer的数据，亚马逊在美国的在线零售份额预计将在2021年跃升100个基点至39.7%。换句话说，在美国网上消费的每1美元中，有0.40美元是通过亚马逊进行的。</blockquote></p><p>Even though retail margins are nothing to write home about, this sheer dominance has helped the company sign up well over 150 million people worldwide to a Prime subscription. The fees Amazon generates from Prime help it to undercut brick-and-mortar retailers on price.</p><p><blockquote>尽管零售利润率没什么值得大书特书的，但这种绝对的主导地位帮助该公司在全球范围内吸引了超过1.5亿人订阅Prime。亚马逊从Prime产生的费用有助于其在价格上低于实体零售商。</blockquote></p><p>Amazon is also a leader in cloud infrastructure services. Amazon Web Services (AWS) grew sales by 30% in 2020 -- i.e., during the worst economic downturn in decades. Despite accounting for only 11.8% of total sales last year, the exceptionally high margins associated with cloud infrastructure helped AWS bring in $13.5 billion of Amazon's $22.9 billion in operating income. As AWS grows into a larger percentage of total sales,operating cash flow is going to soar.</p><p><blockquote>亚马逊也是云基础设施服务领域的领导者。亚马逊网络服务(AWS)的销售额在2020年增长了30%，即在几十年来最严重的经济衰退期间。尽管去年仅占总销售额的11.8%，但与云基础设施相关的异常高的利润率帮助AWS带来了亚马逊229亿美元营业收入中的135亿美元。随着AWS在总销售额中所占的比例越来越大，运营现金流将会飙升。</blockquote></p><p>After regularly being valued at between 23 and 37 times year-end cash flow, Amazon's current share price has it on pace for a multiple relative to cash flow of sub-15 in 2023. That makes it a bargain you'll want to scoop up on any major dip.</p><p><blockquote>亚马逊的估值通常为年终现金流的23至37倍，目前的股价有望在2023年达到15以下现金流的倍数。这使得它成为您在任何重大下跌时都会想要买入的便宜货。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/19/3-unbeatable-growth-stocks-buy-if-market-crashes/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/03/19/3-unbeatable-growth-stocks-buy-if-market-crashes/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188846193","content_text":"A plunging stock market would allow investors to scoop up these superior businesses at a discount.You might not like what I'm about to say, but history says it's a fact:Stock market crashes are inevitable.Over the past 71 years, the benchmarkS&P 500has undergone 38 corrections and crashes that led to a double-digit decline in the index. For you math-phobes out there, this works out to a double-digit decline once every 1.87 years. Crashes are common, and there are always catalysts waiting in the wings to send the market screaming lower.For example, the Shiller price-to-earnings (P/E) ratio for the S&P 500 -- a measure of the average inflation-adjusted earnings from the previous 10 years -- nearly hit 36 this week. That's well over double the 150-year average of 16.8. What's more, the previous four times the S&P 500's Shiller P/E ratio topped (and sustained) 30, the indexlost a minimum of 20%.Additionally, margin use among retail investors is up. According to a Harris poll released in September, 43% of retail investors are relying on leverage, whether that means buying on margin or using options in an attempt to time the market. If things get moving in the wrong direction, margin calls could seriously hurt the stock market.But there's good news here, as well.Each and every stock market crash and correction in history has proved to be a buying opportunity for long-term investors. Eventually, a bull market always erases a correction or bear market decline. With this in mind, the following three unbeatablegrowth stockswould be the perfect buys if the market crashes.CrowdStrike HoldingsFollowing its stellar fiscal fourth-quarter operating results,cybersecurity stockCrowdStrike Holdings(NASDAQ:CRWD)is looking like an absolute must-own if a market crash occurs.On a macro basis, there should be a double-digit annualized growth opportunity for cybersecurity companies throughout the decade. Businesses were already moving their data into the cloud well before the coronavirus pandemic hit. The past year has simply accelerated an existing trend and generated even more demand for third-party solutions.What makes CrowdStrike such a studis the company's Falcon security platform. Falcon is cloud native, responsible for overseeing more than 3 trillion events each week, and is leaning on artificial intelligence (AI) to grow smarter over time. In layman's terms, Falcon can respond to potential threats much faster than in-house security solutions, and in many cases, it can do so at a cheaper overall cost.What's become readily apparent is that CrowdStrike's clients love the product. Over the past 15 quarters (three years, nine months), the percentage of customers with at least four cloud module subscriptions has catapulted from 9% to 63%. What's more, the company has a 12-quarter streak of its dollar-based retention rate topping at least 123%. This means existing customers are spending at least 23% more year over year on subscription services. That's not a surprising figure when you realize that 98% of clients are retained year over year.But possibly the craziest thing of all about CrowdStrike is that the company's long-term subscription gross margin target of 75% to 80%-plushas already been achieved, despite the company still being in the early innings of its growth. CrowdStrike has all the makings of a dominant force in cybersecurity solutions.Teladoc HealthAnother growth stock investors can comfortably pile into during a stock market crash is telemedicine giantTeladoc Health(NYSE:TDOC).As you might have rightly guessed, Teladoc benefited in a big way from the coronavirus pandemic. With physicians and hospitals aiming to keep potentially infected patients and people with chronic health conditions in their homes, the medical community turned in big numbers for virtual visits. In total, Teladoc handled just shy of 10.6 million virtual visits in 2020, up from 4.14 million visits in the prior-year period.The big question is: Can Teladoc's growth continue in a post-pandemic environment? The answer ishighly likely to be yes. That's because telehealth is extremely convenient for patients and can help physicians better monitor chronically ill patients. Best of all, virtual visits are usually billed at a lower rate than office visits, which makes telehealth an instant hit with health insurers.Teladoc's acquisition ofleading applied health-signals companyLivongo Health also gives it a competitive edge. Livongo is a data-driven company that relies on artificial intelligence (AI) to send its subscribers tips and nudges to help them lead healthier lives. Livongo has secured more than 500,000 diabetics as subscribers and has plans to expand its service to cover hypertension and weight management. In my estimate, Livongo's services could encompass in the neighborhood of 40% of the U.S. population.As a combined entity, Teladoc and Livongo have the ability to cross-sell, too. With both companies working toward personalizing the care process and improving care oversight, Teladoc looks like a good bet to be one of the fastest-growinghealthcare stocksof the decade.AmazonFinally, when the stock market crashes next, don't be afraid to pull the trigger on shares of e-commerce kingpinAmazon(NASDAQ:AMZN).If you're noticing a trend here, it's that many of the fastest-growing companies benefited from the pandemic -- more specifically, the shift toward online consumption or data storage. Last year, Amazonregistered $386.1 billion in sales, which represents an increase of $105.6 billion, or 38%, from the prior-year period. No one on Wall Street is used to megacap companies growing this robustly.One reason Amazon is such a successful company is its sheer dominance of online retail. According to eMarketer, Amazon's U.S. online retail share is expected tojump 100 basis points to 39.7% in 2021. Put another way, $0.40 of every $1 spent online in the U.S. is routed through Amazon.Even though retail margins are nothing to write home about, this sheer dominance has helped the company sign up well over 150 million people worldwide to a Prime subscription. The fees Amazon generates from Prime help it to undercut brick-and-mortar retailers on price.Amazon is also a leader in cloud infrastructure services. Amazon Web Services (AWS) grew sales by 30% in 2020 -- i.e., during the worst economic downturn in decades. Despite accounting for only 11.8% of total sales last year, the exceptionally high margins associated with cloud infrastructure helped AWS bring in $13.5 billion of Amazon's $22.9 billion in operating income. As AWS grows into a larger percentage of total sales,operating cash flow is going to soar.After regularly being valued at between 23 and 37 times year-end cash flow, Amazon's current share price has it on pace for a multiple relative to cash flow of sub-15 in 2023. That makes it a bargain you'll want to scoop up on any major dip.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1994,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350978896,"gmtCreate":1616155943615,"gmtModify":1634526968502,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"GME to the moon rocket","listText":"GME to the moon rocket","text":"GME to the moon rocket","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/350978896","repostId":"1143733672","repostType":4,"isVote":1,"tweetType":1,"viewCount":2110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350971259,"gmtCreate":1616155875671,"gmtModify":1634526968966,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"GME to the moon","listText":"GME to the moon","text":"GME to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350971259","repostId":"1143733672","repostType":4,"repost":{"id":"1143733672","kind":"news","pubTimestamp":1616152692,"share":"https://www.laohu8.com/m/news/1143733672?lang=zh_CN&edition=full","pubTime":"2021-03-19 19:18","market":"us","language":"en","title":"Why Is Everyone (Still) Talking About GameStop Stock?<blockquote>为什么每个人（仍然）都在谈论游戏驿站股票？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143733672","media":"Motley Fool","summary":"It's a GameStop world. We're just living in it.GameStop(NYSE:GME)has to be 2021's most interesting s","content":"<p><b>It's a GameStop world. We're just living in it.</b><b>GameStop</b>(NYSE:GME)has to be 2021's most interesting stock. The video game retailer started to pick up momentum ahead of the launch of new game consoles from<b>Sony</b>and<b>Microsoft</b>last year, and over the past two months, short-squeeze mania and other big developments have led to incredible swings for the the company's share price.</p><p><blockquote><b>这是一个游戏驿站的世界。我们只是生活在其中。</b><b>游戏驿站</b>（纽约证券交易所股票代码：GME）一定是2021年最有趣的股票。在推出新游戏机之前，这家视频游戏零售商开始加快发展势头<b>索尼</b>和<b>微软</b>去年和过去两个月，轧空狂热和其他重大事态发展导致该公司股价出现令人难以置信的波动。</blockquote></p><p>GameStop's stock climbed as high as $483 per share during the height of short-squeeze mania. While the stock briefly returned to trading in the range of $50 per share, it's bounced back once again and traded at $201.75 at Thursday's close. That price represents a 971% increase year to date and a 4,715% increase from the $4.19 share price the stock had one year ago.</p><p><blockquote>在轧空狂热最严重的时候，游戏驿站的股价一度攀升至每股483美元。虽然该股短暂回到每股50美元的区间交易，但再次反弹，周四收盘时交易价格为201.75美元。该价格今年迄今上涨了971%，较一年前4.19美元的股价上涨了4,715%。</blockquote></p><p>Why is GameStop surging, and what comes next?</p><p><blockquote>游戏驿站为何风起云涌，接下来会发生什么？</blockquote></p><p><b>How did we get here?</b></p><p><blockquote><b>我们是怎么到这里的？</b></blockquote></p><p>The start of GameStop's improbable, supercharged rally can be traced back to the introduction of Sony's PlayStation 5 console and Microsoft's Xbox Series X and Series S platforms in 2020. New console launches have historically led to a cyclical upcycle for GameStop's business and stock performance.</p><p><blockquote>游戏驿站不可思议的增压拉力赛的开始可以追溯到2020年Sony PlayStation 5游戏机以及微软Xbox Series X和Series S平台的推出。从历史上看，新游戏机的推出会导致游戏驿站业务和股票表现的周期性上升周期。</blockquote></p><p>Pricing momentum created by the new hardware launches was further intensified by news that activist investor and<b>Chewy</b>co-founder Ryan Cohen was amassing a large stake in the company and would advocate for pushing the business toward an e-commerce focus.</p><p><blockquote>激进投资者和<b>耐嚼</b>联合创始人瑞安·科恩(Ryan Cohen)持有该公司的大量股份，并主张将业务推向电子商务重点。</blockquote></p><p>From there, Reddit's WallStreetBets group began championing the stock as a potential target for a hugeshort squeeze. Social media users noticed that enormous short interest had amassed against GameStop -- and that a massive run for the stock could potentially be generated through a bit of favorable news and coordinated buying.</p><p><blockquote>从那时起，Reddit的WallStreetBets小组开始支持该股作为大规模轧空的潜在目标。社交媒体用户注意到，针对游戏驿站的巨大空头兴趣已经积累，并且通过一些有利消息和协调购买，该股可能会出现大规模上涨。</blockquote></p><p>Prior to the first major short squeeze, GameStop had about 50 million shares of its stock outstanding. At the same time, roughly 70 million shares of the company's stock had been sold short -- meaning that investors had placed bets against more shares of the company's stock than actually existed.</p><p><blockquote>在第一次重大轧空之前，游戏驿站拥有约5000万股已发行股票。与此同时，大约7000万股该公司股票被卖空，这意味着投资者对该公司股票的押注多于实际存在的股票。</blockquote></p><p>Short interest exceeding the company's actual outstanding share count was made possible through a practice callednaked short selling, which allows bets to be placed against shares that haven't actually been borrowed. WallStreetBets members wound up being right about the squeeze, and GameStop bulls notched incredible gains as short-sellers were forced to buy back the stock at elevated levels in hopes of avoiding massive losses.</p><p><blockquote>超过公司实际已发行股票数量的空头利息是通过一种称为裸卖空的做法实现的，这种做法允许对尚未实际借入的股票进行押注。WallStreetBets会员最终对挤压的看法是正确的，游戏驿站多头取得了令人难以置信的收益，因为卖空者被迫在高位回购该股，希望避免巨大损失。</blockquote></p><p>A combination of continued short-squeeze momentum and indications that the company would be aggressively pursuing its pivot to online retail have added new chapters to the story of GameStop's incredible rally, and it currently stands as one of the best-performing stocks of the year. Cohen has been appointed chairman of a new committee to accelerate the business's online retail push, a bounce for the stock has once again attracted new short interest, and theGameStopsaga rages on.</p><p><blockquote>持续的轧空势头以及该公司将积极转向在线零售的迹象相结合，为游戏驿站令人难以置信的反弹故事增添了新篇章，目前该公司是今年表现最好的股票之一。科恩被任命为一个新委员会的主席，以加速该公司的在线零售业务，该股的反弹再次吸引了新的空头兴趣，GameStop传奇仍在继续。</blockquote></p><p><b>What's the shelf life of a \"meme stock?\"</b></p><p><blockquote><b>“模因股票”的保质期是多久？</b></blockquote></p><p>A phenomenal surge in retail trading activity has helped bring about the rise of \"meme stocks\" -- a name given to equities that see huge momentum after gaining favor in online discussion communities. Sometimes these stocks wind up seeing big gains just by virtue of being the fad, or meme, of the moment, but many investors are now trading these companies solely on volatility and with no real concern for fundamentals.</p><p><blockquote>零售交易活动的惊人激增帮助带来了“模因股票”的崛起——这是一个在在线讨论社区中获得青睐后势头强劲的股票的名称。有时，这些股票最终仅仅凭借当下的时尚或迷因而获得大幅上涨，但许多投资者现在仅根据波动性来交易这些公司，而不真正关心基本面。</blockquote></p><p>GameStop is the reigning king of the meme stocks, and it could see more big gains with additional squeeze momentum. But what about the actual business and the online retail pivot?</p><p><blockquote>游戏驿站是模因股票的卫冕之王，随着额外的挤压势头，它可能会出现更大的涨幅。但是实际业务和在线零售支点呢？</blockquote></p><p>GameStop has struggled for years as video game software sales have moved to digital channels, and the company has a lengthy history of failed growth bets under its belt.</p><p><blockquote>随着视频游戏软件销售转向数字渠道，游戏驿站多年来一直在苦苦挣扎，而且该公司长期以来一直在增长押注失败。</blockquote></p><p>Trying to move into smartphone and mobile service retail was a bust, as was its push into selling other non-gaming tech hardware. Hinging a big part of its growth story on geek culture merchandise (think T-shirts and<b>Funko</b>'s character figurines) didn't really pan out either. Efforts to move into video game software development and subscription service packages were duds, and recent experiments with turning some of its stores into esports social hubs seem unlikely to become a real growth driver.</p><p><blockquote>试图进军智能手机和移动服务零售领域的努力失败了，就像它进军其他非游戏技术硬件的努力一样。其增长故事的很大一部分取决于极客文化商品（想想T恤和<b>丰科</b>的人物雕像）也没有真正成功。进军视频游戏软件开发和订阅服务包的努力是徒劳的，最近将其一些商店转变为电子竞技社交中心的实验似乎不太可能成为真正的增长动力。</blockquote></p><p>Previous efforts to boost the company's online retail footprint were also somewhat underwhelming. It's possible that the company is finally ready to emerge as a leaner, more effective e-commerce business, and the company's appointment of Cohen to steer the pivot is encouraging. However, GameStop will have to manage the ongoing decline of its brick-and-mortar business and incur substantial expenses as its moves away from that segment and ramps up its e-commerce initiatives.</p><p><blockquote>此前扩大该公司在线零售足迹的努力也有些乏善可陈。该公司可能最终准备好成为一家更精简、更有效的电子商务企业，该公司任命科恩来指导这一转变令人鼓舞。然而，游戏驿站将不得不应对其实体业务的持续下滑，并随着其退出该细分市场并加大电子商务举措而产生大量费用。</blockquote></p><p></p><p>As the stock emerges from short-squeeze and meme-stock mania, the business is going to have to deliver an incredible series of wins in order to justify its current market capitalization of roughly $14 billion. The odds aren't in GameStop's favor, but it's shaping up to be an incredible story either way.</p><p><blockquote>随着该股摆脱空头挤压和模因股票狂热，该公司将必须取得一系列令人难以置信的胜利，才能证明其目前约140亿美元的市值是合理的。胜算对游戏驿站不利，但不管怎样，这都将是一个令人难以置信的故事。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Is Everyone (Still) Talking About GameStop Stock?<blockquote>为什么每个人（仍然）都在谈论游戏驿站股票？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Is Everyone (Still) Talking About GameStop Stock?<blockquote>为什么每个人（仍然）都在谈论游戏驿站股票？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-19 19:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>It's a GameStop world. We're just living in it.</b><b>GameStop</b>(NYSE:GME)has to be 2021's most interesting stock. The video game retailer started to pick up momentum ahead of the launch of new game consoles from<b>Sony</b>and<b>Microsoft</b>last year, and over the past two months, short-squeeze mania and other big developments have led to incredible swings for the the company's share price.</p><p><blockquote><b>这是一个游戏驿站的世界。我们只是生活在其中。</b><b>游戏驿站</b>（纽约证券交易所股票代码：GME）一定是2021年最有趣的股票。在推出新游戏机之前，这家视频游戏零售商开始加快发展势头<b>索尼</b>和<b>微软</b>去年和过去两个月，轧空狂热和其他重大事态发展导致该公司股价出现令人难以置信的波动。</blockquote></p><p>GameStop's stock climbed as high as $483 per share during the height of short-squeeze mania. While the stock briefly returned to trading in the range of $50 per share, it's bounced back once again and traded at $201.75 at Thursday's close. That price represents a 971% increase year to date and a 4,715% increase from the $4.19 share price the stock had one year ago.</p><p><blockquote>在轧空狂热最严重的时候，游戏驿站的股价一度攀升至每股483美元。虽然该股短暂回到每股50美元的区间交易，但再次反弹，周四收盘时交易价格为201.75美元。该价格今年迄今上涨了971%，较一年前4.19美元的股价上涨了4,715%。</blockquote></p><p>Why is GameStop surging, and what comes next?</p><p><blockquote>游戏驿站为何风起云涌，接下来会发生什么？</blockquote></p><p><b>How did we get here?</b></p><p><blockquote><b>我们是怎么到这里的？</b></blockquote></p><p>The start of GameStop's improbable, supercharged rally can be traced back to the introduction of Sony's PlayStation 5 console and Microsoft's Xbox Series X and Series S platforms in 2020. New console launches have historically led to a cyclical upcycle for GameStop's business and stock performance.</p><p><blockquote>游戏驿站不可思议的增压拉力赛的开始可以追溯到2020年Sony PlayStation 5游戏机以及微软Xbox Series X和Series S平台的推出。从历史上看，新游戏机的推出会导致游戏驿站业务和股票表现的周期性上升周期。</blockquote></p><p>Pricing momentum created by the new hardware launches was further intensified by news that activist investor and<b>Chewy</b>co-founder Ryan Cohen was amassing a large stake in the company and would advocate for pushing the business toward an e-commerce focus.</p><p><blockquote>激进投资者和<b>耐嚼</b>联合创始人瑞安·科恩(Ryan Cohen)持有该公司的大量股份，并主张将业务推向电子商务重点。</blockquote></p><p>From there, Reddit's WallStreetBets group began championing the stock as a potential target for a hugeshort squeeze. Social media users noticed that enormous short interest had amassed against GameStop -- and that a massive run for the stock could potentially be generated through a bit of favorable news and coordinated buying.</p><p><blockquote>从那时起，Reddit的WallStreetBets小组开始支持该股作为大规模轧空的潜在目标。社交媒体用户注意到，针对游戏驿站的巨大空头兴趣已经积累，并且通过一些有利消息和协调购买，该股可能会出现大规模上涨。</blockquote></p><p>Prior to the first major short squeeze, GameStop had about 50 million shares of its stock outstanding. At the same time, roughly 70 million shares of the company's stock had been sold short -- meaning that investors had placed bets against more shares of the company's stock than actually existed.</p><p><blockquote>在第一次重大轧空之前，游戏驿站拥有约5000万股已发行股票。与此同时，大约7000万股该公司股票被卖空，这意味着投资者对该公司股票的押注多于实际存在的股票。</blockquote></p><p>Short interest exceeding the company's actual outstanding share count was made possible through a practice callednaked short selling, which allows bets to be placed against shares that haven't actually been borrowed. WallStreetBets members wound up being right about the squeeze, and GameStop bulls notched incredible gains as short-sellers were forced to buy back the stock at elevated levels in hopes of avoiding massive losses.</p><p><blockquote>超过公司实际已发行股票数量的空头利息是通过一种称为裸卖空的做法实现的，这种做法允许对尚未实际借入的股票进行押注。WallStreetBets会员最终对挤压的看法是正确的，游戏驿站多头取得了令人难以置信的收益，因为卖空者被迫在高位回购该股，希望避免巨大损失。</blockquote></p><p>A combination of continued short-squeeze momentum and indications that the company would be aggressively pursuing its pivot to online retail have added new chapters to the story of GameStop's incredible rally, and it currently stands as one of the best-performing stocks of the year. Cohen has been appointed chairman of a new committee to accelerate the business's online retail push, a bounce for the stock has once again attracted new short interest, and theGameStopsaga rages on.</p><p><blockquote>持续的轧空势头以及该公司将积极转向在线零售的迹象相结合，为游戏驿站令人难以置信的反弹故事增添了新篇章，目前该公司是今年表现最好的股票之一。科恩被任命为一个新委员会的主席，以加速该公司的在线零售业务，该股的反弹再次吸引了新的空头兴趣，GameStop传奇仍在继续。</blockquote></p><p><b>What's the shelf life of a \"meme stock?\"</b></p><p><blockquote><b>“模因股票”的保质期是多久？</b></blockquote></p><p>A phenomenal surge in retail trading activity has helped bring about the rise of \"meme stocks\" -- a name given to equities that see huge momentum after gaining favor in online discussion communities. Sometimes these stocks wind up seeing big gains just by virtue of being the fad, or meme, of the moment, but many investors are now trading these companies solely on volatility and with no real concern for fundamentals.</p><p><blockquote>零售交易活动的惊人激增帮助带来了“模因股票”的崛起——这是一个在在线讨论社区中获得青睐后势头强劲的股票的名称。有时，这些股票最终仅仅凭借当下的时尚或迷因而获得大幅上涨，但许多投资者现在仅根据波动性来交易这些公司，而不真正关心基本面。</blockquote></p><p>GameStop is the reigning king of the meme stocks, and it could see more big gains with additional squeeze momentum. But what about the actual business and the online retail pivot?</p><p><blockquote>游戏驿站是模因股票的卫冕之王，随着额外的挤压势头，它可能会出现更大的涨幅。但是实际业务和在线零售支点呢？</blockquote></p><p>GameStop has struggled for years as video game software sales have moved to digital channels, and the company has a lengthy history of failed growth bets under its belt.</p><p><blockquote>随着视频游戏软件销售转向数字渠道，游戏驿站多年来一直在苦苦挣扎，而且该公司长期以来一直在增长押注失败。</blockquote></p><p>Trying to move into smartphone and mobile service retail was a bust, as was its push into selling other non-gaming tech hardware. Hinging a big part of its growth story on geek culture merchandise (think T-shirts and<b>Funko</b>'s character figurines) didn't really pan out either. Efforts to move into video game software development and subscription service packages were duds, and recent experiments with turning some of its stores into esports social hubs seem unlikely to become a real growth driver.</p><p><blockquote>试图进军智能手机和移动服务零售领域的努力失败了，就像它进军其他非游戏技术硬件的努力一样。其增长故事的很大一部分取决于极客文化商品（想想T恤和<b>丰科</b>的人物雕像）也没有真正成功。进军视频游戏软件开发和订阅服务包的努力是徒劳的，最近将其一些商店转变为电子竞技社交中心的实验似乎不太可能成为真正的增长动力。</blockquote></p><p>Previous efforts to boost the company's online retail footprint were also somewhat underwhelming. It's possible that the company is finally ready to emerge as a leaner, more effective e-commerce business, and the company's appointment of Cohen to steer the pivot is encouraging. However, GameStop will have to manage the ongoing decline of its brick-and-mortar business and incur substantial expenses as its moves away from that segment and ramps up its e-commerce initiatives.</p><p><blockquote>此前扩大该公司在线零售足迹的努力也有些乏善可陈。该公司可能最终准备好成为一家更精简、更有效的电子商务企业，该公司任命科恩来指导这一转变令人鼓舞。然而，游戏驿站将不得不应对其实体业务的持续下滑，并随着其退出该细分市场并加大电子商务举措而产生大量费用。</blockquote></p><p></p><p>As the stock emerges from short-squeeze and meme-stock mania, the business is going to have to deliver an incredible series of wins in order to justify its current market capitalization of roughly $14 billion. The odds aren't in GameStop's favor, but it's shaping up to be an incredible story either way.</p><p><blockquote>随着该股摆脱空头挤压和模因股票狂热，该公司将必须取得一系列令人难以置信的胜利，才能证明其目前约140亿美元的市值是合理的。胜算对游戏驿站不利，但不管怎样，这都将是一个令人难以置信的故事。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/19/why-is-everyone-still-talking-about-gamestop-stock/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.fool.com/investing/2021/03/19/why-is-everyone-still-talking-about-gamestop-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143733672","content_text":"It's a GameStop world. We're just living in it.GameStop(NYSE:GME)has to be 2021's most interesting stock. The video game retailer started to pick up momentum ahead of the launch of new game consoles fromSonyandMicrosoftlast year, and over the past two months, short-squeeze mania and other big developments have led to incredible swings for the the company's share price.GameStop's stock climbed as high as $483 per share during the height of short-squeeze mania. While the stock briefly returned to trading in the range of $50 per share, it's bounced back once again and traded at $201.75 at Thursday's close. That price represents a 971% increase year to date and a 4,715% increase from the $4.19 share price the stock had one year ago.Why is GameStop surging, and what comes next?How did we get here?The start of GameStop's improbable, supercharged rally can be traced back to the introduction of Sony's PlayStation 5 console and Microsoft's Xbox Series X and Series S platforms in 2020. New console launches have historically led to a cyclical upcycle for GameStop's business and stock performance.Pricing momentum created by the new hardware launches was further intensified by news that activist investor andChewyco-founder Ryan Cohen was amassing a large stake in the company and would advocate for pushing the business toward an e-commerce focus.From there, Reddit's WallStreetBets group began championing the stock as a potential target for a hugeshort squeeze. Social media users noticed that enormous short interest had amassed against GameStop -- and that a massive run for the stock could potentially be generated through a bit of favorable news and coordinated buying.Prior to the first major short squeeze, GameStop had about 50 million shares of its stock outstanding. At the same time, roughly 70 million shares of the company's stock had been sold short -- meaning that investors had placed bets against more shares of the company's stock than actually existed.Short interest exceeding the company's actual outstanding share count was made possible through a practice callednaked short selling, which allows bets to be placed against shares that haven't actually been borrowed. WallStreetBets members wound up being right about the squeeze, and GameStop bulls notched incredible gains as short-sellers were forced to buy back the stock at elevated levels in hopes of avoiding massive losses.A combination of continued short-squeeze momentum and indications that the company would be aggressively pursuing its pivot to online retail have added new chapters to the story of GameStop's incredible rally, and it currently stands as one of the best-performing stocks of the year. Cohen has been appointed chairman of a new committee to accelerate the business's online retail push, a bounce for the stock has once again attracted new short interest, and theGameStopsaga rages on.What's the shelf life of a \"meme stock?\"A phenomenal surge in retail trading activity has helped bring about the rise of \"meme stocks\" -- a name given to equities that see huge momentum after gaining favor in online discussion communities. Sometimes these stocks wind up seeing big gains just by virtue of being the fad, or meme, of the moment, but many investors are now trading these companies solely on volatility and with no real concern for fundamentals.GameStop is the reigning king of the meme stocks, and it could see more big gains with additional squeeze momentum. But what about the actual business and the online retail pivot?GameStop has struggled for years as video game software sales have moved to digital channels, and the company has a lengthy history of failed growth bets under its belt.Trying to move into smartphone and mobile service retail was a bust, as was its push into selling other non-gaming tech hardware. Hinging a big part of its growth story on geek culture merchandise (think T-shirts andFunko's character figurines) didn't really pan out either. Efforts to move into video game software development and subscription service packages were duds, and recent experiments with turning some of its stores into esports social hubs seem unlikely to become a real growth driver.Previous efforts to boost the company's online retail footprint were also somewhat underwhelming. It's possible that the company is finally ready to emerge as a leaner, more effective e-commerce business, and the company's appointment of Cohen to steer the pivot is encouraging. However, GameStop will have to manage the ongoing decline of its brick-and-mortar business and incur substantial expenses as its moves away from that segment and ramps up its e-commerce initiatives.As the stock emerges from short-squeeze and meme-stock mania, the business is going to have to deliver an incredible series of wins in order to justify its current market capitalization of roughly $14 billion. The odds aren't in GameStop's favor, but it's shaping up to be an incredible story either way.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":1519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327974153,"gmtCreate":1616055725772,"gmtModify":1703496956691,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"love netflix","listText":"love netflix","text":"love netflix","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327974153","repostId":"2120580281","repostType":4,"repost":{"id":"2120580281","kind":"news","pubTimestamp":1616055682,"share":"https://www.laohu8.com/m/news/2120580281?lang=zh_CN&edition=full","pubTime":"2021-03-18 16:21","market":"us","language":"en","title":"Netflix’s Scale Is The Key To Its Profitability<blockquote>Netflix的规模是其盈利的关键</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2120580281","media":"Simply Wall St.","summary":"• Netflix's strategy was to reach scale, then create its own content\n• Its library is shifting towar","content":"<p><h3><b>• Netflix's strategy was to reach scale, then create its own content</b></h3> <h3><b>• Its library is shifting towards original content</b></h3> <h3><b>• Net margins are expanding as scale takes effect</b></h3> On-demand streaming is <a href=\"https://laohu8.com/S/AONE\">one</a> of the most competitive industries in the 21st century. <b>Netflix (</b><b><u>NASDAQ:NFLX</u></b><b>)</b> was the pioneer back in 2007 with its “Watch Now” service. Since then, many players have joined the space - and you can’t blame them, the model of on-demand streaming is more streamlined (pardon-the-pun) and scalable than traditional distribution methods. It has provided those with valuable intellectual property such as movies and TV shows a new and efficient way to monetize these assets.</p><p><blockquote><h3><b>•Netflix的战略是达到规模，然后创建自己的内容</b></h3><h3><b>•其图书馆正在向原创内容转变</b></h3><h3><b>•随着规模的发挥，净利润率正在扩大</b></h3>点播流媒体是<a href=\"https://laohu8.com/S/AONE\">一</a>21世纪最具竞争力的行业之一。<b>Netflix</b><b><u>纳斯达克：NFLX</u></b><b>)</b>是2007年推出“立即观看”服务的先驱。从那以后，许多玩家加入了这个领域——你不能责怪他们，点播流媒体的模式比传统的分发方式更加精简（原谅双关语）和可扩展。它为那些拥有电影和电视节目等有价值的知识产权的人提供了一种新的有效方式来将这些资产货币化。</blockquote></p><p> Some expect the on-demand streaming industry to reach 2 billion users by 2025, which would be a 65% increase from 2020 figures.</p><p><blockquote>一些人预计，到2025年，点播流媒体行业的用户将达到20亿，比2020年的数字增长65%。</blockquote></p><p> Being the first mover 14 years ago has allowed Netflix to get a headstart in acquiring users and building its market-leading user base of 204m. However, this lead will not be easy to maintain. In this piece, we want to cover Netflix’s strategies to get where it is today, how it could maintain its lead and what that will do to the business’ economics.</p><p><blockquote>作为14年前的先行者，Netflix在获取用户和建立2.04亿市场领先的用户群方面取得了领先地位。然而，这种领先优势并不容易保持。在这篇文章中，我们希望介绍Netflix实现今天的战略、如何保持领先地位以及这将对企业的经济效益产生什么影响。</blockquote></p><p> <h2><b>Netflix’s strategy</b></h2> Netflix is a streaming service for content. Its strategy was simple: grow its subscriber base to reach scale quickly by distributing quality content through a great user experience. Then, once it reaches scale, create its own content to become less reliant on external studios and allow itself to generate higher margins through fixed production costs rather than variable licensing fees.</p><p><blockquote><h2><b>奈飞的策略</b></h2>网飞是一个内容流媒体服务。它的策略很简单：通过出色的用户体验分发高质量的内容，扩大用户群以快速达到规模。然后，一旦它达到规模，创建自己的内容，减少对外部工作室的依赖，并允许自己通过固定的制作成本而不是可变的许可费产生更高的利润。</blockquote></p><p> In the early days, this content was all licensed from other studios that actually owned the rights. Netflix paid them licensing fees and, before the company had scale, it was at the mercy of these content providers. Until Netflix was to reach scale (a large enough paying user base), this model typically benefitted the content owners more than the content distributors.</p><p><blockquote>在早期，这些内容都是从其他实际拥有版权的工作室那里获得许可的。Netflix向他们支付了许可费，在公司形成规模之前，它受到了这些内容提供商的摆布。在Netflix达到规模（足够大的付费用户群）之前，这种模式通常比内容分销商更有利于内容所有者。</blockquote></p><p> That’s why in 2013, when the company reached 34m paying subscribers, it began to generate its own content. One of its first productions was the hugely successful and award-winning <i>House of Cards</i>. As the company has continued to grow its user base, it has continued to create its own content in house. By February 2021, when Netflix surpassed 204m paying subscribers, the company reportedly had around 1,500 Netflix original titles, which was roughly 10% of its total international library of 15,000 titles.</p><p><blockquote>这就是为什么在2013年，当该公司的付费用户达到3400万时，它开始生成自己的内容。它的第一部作品之一获得了巨大的成功并获奖<i>纸牌屋</i>随着该公司用户群的不断增长，它继续在内部创建自己的内容。据报道，到2021年2月，当Netflix的付费用户超过2.04亿时，该公司拥有约1,500部Netflix原创图书，约占其国际图书馆15,000部图书总数的10%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea2c3b3b37fcfc1064cfda24c06d0284\" tg-width=\"1122\" tg-height=\"1006\"><span>Source: Netflix</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Netflix</span></p></blockquote></p><p> Since Netflix has now reached scale and established a market leading position, it needs to continue doubling down on the second part of its strategy to maintain that lead, which is: make more of its own content.</p><p><blockquote>由于Netflix现在已经达到规模并建立了市场领先地位，它需要继续加倍努力实现其战略的第二部分以保持领先地位，即：制作更多自己的内容。</blockquote></p><p> <h2><b>Maintaining its lead</b></h2> It’s <a href=\"https://laohu8.com/S/AONE.U\">one</a> thing to generate a lead, but it’s another to maintain it. Since there’s plenty of streaming options out there such as Disney+, Amazon Prime, Youtube Premium, and users are spoilt for choice. However, while these consumers have a vast array of content at their fingertips, not all of it is “great” content and they only have so much spare time to consume it. That’s why Netflix’s goal is for consumers to “choose Netflix in their moments of free time”. To do this, Netflix knows it needs to provide unique content that is more appealing than others, and deliver it through a seamless user experience.</p><p><blockquote><h2><b>保持领先地位</b></h2>这是<a href=\"https://laohu8.com/S/AONE.U\">一</a>产生销售线索是一回事，但保持销售线索是另一回事。因为有很多流媒体选项，如Disney+、Amazon Prime、Youtube Premium，用户的选择太多了。然而，虽然这些消费者手边有大量的内容，但并不是所有的内容都是“伟大的”内容，他们只有这么多的空闲时间来消费这些内容。这就是为什么Netflix的目标是让消费者“在空闲时间选择Netflix”。要做到这一点，Netflix知道它需要提供比其他内容更有吸引力的独特内容，并通过无缝的用户体验来交付。</blockquote></p><p> Since the company seems to have the user experience mostly in order, a lot of its focus has been on growing the amount of unique content it serves, especially its originals. And we can see Netflix’s shift in spending in the company's cost of revenue expense and the company’s content assets.</p><p><blockquote>由于该公司的用户体验似乎基本正常，因此它的大部分重点都放在增加其提供的独特内容的数量上，尤其是原创内容。我们可以看到Netflix在公司收入支出成本和公司内容资产方面的支出转变。</blockquote></p><p> Netflix’s cost of revenue is its primary expense and was $15.2bn for 2020 (61% of revenue). Two thirds of this ($10.8bn) is made up of the amortization of its content assets.</p><p><blockquote>Netflix的收入成本是其主要支出，2020年为152亿美元（占收入的61%）。其中三分之二（108亿美元）由其内容资产的摊销组成。</blockquote></p><p> Amortization is a method for writing off the cost of the content over its useful life, rather than incurring the cost up front. On average, over 90% of Netflix’s licensed or produced content is amortized over 4 years. So for example, on average, a $100m license fee for a TV show might be amortized at $25m per year over 4 years instead of all at once.</p><p><blockquote>摊销是一种在内容的使用寿命内冲销其成本的方法，而不是预先产生成本。平均而言，超过90%的网飞许可或制作内容在4年内摊销。例如，平均而言，一个电视节目1亿美元的许可费可能会在4年内以每年2500万美元的速度摊销，而不是一次全部摊销。</blockquote></p><p> The chart below shows just how much amortization of content has occurred leading up to 2019 as well as cash spend on content.</p><p><blockquote>下图显示了截至2019年的内容摊销金额以及内容上的现金支出。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf9c9277c0f8a9fba4bf1fb9d9b5e3c5\" tg-width=\"1508\" tg-height=\"818\"><span>Source: Next Level Finance</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：下一级财经</span></p></blockquote></p><p></p><p> You’ll notice the cash spend column beside the amortization column. Cash spend is recorded in the statement of cash flows and represents the money Netflix spends upfront to produce its own content. Importantly, this disparity between the two columns reflects that the company is spending more on producing its own content since cash spend is increasing at a faster rate than amortization.</p><p><blockquote>您会注意到摊销列旁边的现金支出列。现金支出记录在现金流量表中，代表Netflix为制作自己的内容而预先花费的资金。重要的是，两栏之间的差异反映出该公司在制作自己的内容上花费更多，因为现金支出的增长速度快于摊销。</blockquote></p><p> For 2020, content amortization reached $10.8bn and cash spend reduced to $12.5bn, but it was still higher than the amortization expense.</p><p><blockquote>2020年，内容摊销达到108亿美元，现金支出减少至125亿美元，但仍高于摊销费用。</blockquote></p><p> This transition of increasing spend on original content then shows up in the company’s content assets split too.</p><p><blockquote>这种增加原创内容支出的转变也体现在公司的内容资产分割中。</blockquote></p><p> In 2016, the company had $11bn worth of content assets, which was split between 86% licensed content, and 14% original content. However, by 2020, content assets reached $25bn and the split was now 54% licensed to 46% original. This shift is helping the company become less at risk of studios pulling their content, because it has more of its own to showcase.</p><p><blockquote>2016年，该公司拥有价值110亿美元的内容资产，其中86%为授权内容，14%为原创内容。然而，到2020年，内容资产达到250亿美元，现在54%是授权的，46%是原创的。这种转变有助于该公司降低工作室撤回其内容的风险，因为它有更多自己的内容可以展示。</blockquote></p><p> Releasing and owning unique titles such as Stranger Things, House of Cards, The Crown, The Witcher, or The Queen’s Gambit are crucial for Netflix to maintain its lead. It gives their existing users all the more reason to keep their subscriptions as new titles like these are released, and it gives prospective users all the more reason to sign up if they want to view these exclusives.</p><p><blockquote>发行和拥有独特的游戏，如《奇异事物》、《纸牌屋》、《王冠》、《巫师》或《女王的策略》，对于网飞保持领先地位至关重要。随着像这样的新游戏的发布，它给了他们现有的用户更多的理由保持他们的订阅，它给了潜在用户更多的理由注册，如果他们想查看这些独家新闻。</blockquote></p><p> This transition to original content is helping the company build its own moat by becoming less reliant on external providers. As Netflix becomes both the producer and distributor of a larger portion of its content library, this creates a lot of operating leverage and thus helps the company’s bottom line.</p><p><blockquote>这种向原创内容的过渡正在帮助该公司通过减少对外部提供商的依赖来建立自己的护城河。随着Netflix成为其大部分内容库的生产商和分销商，这创造了大量的运营杠杆，从而有助于公司的利润。</blockquote></p><p> <h2><b>How this impacts the economics</b></h2> The positive financial impact of reaching a huge operating scale in a business like Netflix cannot be understated. Additionally, the expansion of originals in its content library exaggerates the positive effects that scale has on the company’s bottom line. This effect can already be seen over the last five years, and analysts expect this to continue over the next five.</p><p><blockquote><h2><b>这对经济有何影响</b></h2>在像网飞这样的企业中达到巨大的运营规模所带来的积极财务影响不可低估。此外，其内容库中原创作品的扩展夸大了规模对公司利润的积极影响。这种影响在过去五年中已经可以看到，分析师预计这种影响将在未来五年持续下去。</blockquote></p><p> In 2016, net profit margins were only 2.1% but reached 11% in 2020. This is thanks to the 120% increase in paying subscribers (to 204m) and the aforementioned increase in fixed cost original content. Looking forward, analysts expect further growth in revenue and earnings thanks to more subscriber growth and an increase in original content as a percentage of total titles. By 2025, the company is expected to double revenue to $51bn and increase earnings more than 4-fold to $12bn, which would result in further net margin expansion to 23.5%.</p><p><blockquote>2016年，净利润率仅为2.1%，但2020年达到11%。这要归功于付费用户增长120%（达到2.04亿）以及上述固定成本原创内容的增长。展望未来，分析师预计，由于订户数量的增加以及原创内容占总标题百分比的增加，收入和盈利将进一步增长。到2025年，该公司预计收入将翻一番，达到510亿美元，盈利将增长4倍以上，达到120亿美元，这将导致净利润率进一步扩大至23.5%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/90dda28b7a97c864def67fed7695916e\" tg-width=\"1702\" tg-height=\"1186\"><span>Source: Earnings and Revenue Growth Forecasts - NASDAQ:NFLX - Simply Wall St</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：盈利和收入增长预测-纳斯达克：NFLX-Simply Wall ST</span></p></blockquote></p><p> It should be noted that while Netflix will need to continue creating its own content to remain relevant and satisfy user demand, its scale is now at a stage where this is affordable.</p><p><blockquote>应该指出的是，虽然Netflix将需要继续创建自己的内容以保持相关性并满足用户需求，但其规模现在处于可承受的阶段。</blockquote></p><p> Additionally, with this leading scale, those studios that do license their content to Netflix (because they don’t have a streaming platform of their own) will either have to start one of their own from square one and find users to make it economical, or look for a better license deal from a different streaming service (which might be difficult given Netflix is the biggest and likely able to pay them the most).</p><p><blockquote>此外，凭借这种领先的规模，那些将其内容授权给网飞的工作室（因为他们没有自己的流媒体平台）要么必须从头开始创建自己的流媒体平台，并找到用户以使其经济，要么从不同的流媒体服务中寻找更好的许可协议（这可能很困难，因为网飞是最大的，可能能够向他们支付最多的费用）。</blockquote></p><p> <h2><b>Summing it up</b></h2> Netflix’s core focus for a long time has been its subscriber growth since this is key to becoming profitable. The company’s growing investment into originals is aimed at acquiring even more users, and its vast library of titles is used to retain them. Both its scale and unique content help to solidify the company’s moat and let it generate more profit from each piece of content. Analysts expect that this trend of user growth and original content creation will continue, and as a result, growth in Netflix’s top and bottom line is expected to persist out to at least 2025.</p><p><blockquote><h2><b>总结一下</b></h2>Netflix长期以来的核心关注点一直是用户增长，因为这是盈利的关键。该公司对原创作品不断增长的投资旨在获得更多用户，其庞大的图书库被用来留住他们。其规模和独特的内容都有助于巩固公司的护城河，让其从每条内容中产生更多利润。分析师预计，这种用户增长和原创内容创作的趋势将持续下去，因此，Netflix的营收和利润增长预计将至少持续到2025年。</blockquote></p><p> While all of this growth is impressive, it did come with some strings attached. Netflix levered up and by 2020 year end it had $16bn in debt. Our company report on Netflix contains a full breakdown of the company’s financial health and its ability to fund the debt.</p><p><blockquote>虽然所有这些增长令人印象深刻，但它确实伴随着一些附加条件。Netflix提高了杠杆率，到2020年底，其债务已达160亿美元。我们关于Netflix的公司报告包含该公司财务健康状况及其为债务融资能力的完整明细。</blockquote></p><p></p>","source":"lsy1616055508394","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>Netflix’s Scale Is The Key To Its Profitability<blockquote>Netflix的规模是其盈利的关键</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\">\nNetflix’s Scale Is The Key To Its Profitability<blockquote>Netflix的规模是其盈利的关键</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Simply Wall St.</strong><span class=\"h-time small\">2021-03-18 16:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p><h3><b>• Netflix's strategy was to reach scale, then create its own content</b></h3> <h3><b>• Its library is shifting towards original content</b></h3> <h3><b>• Net margins are expanding as scale takes effect</b></h3> On-demand streaming is <a href=\"https://laohu8.com/S/AONE\">one</a> of the most competitive industries in the 21st century. <b>Netflix (</b><b><u>NASDAQ:NFLX</u></b><b>)</b> was the pioneer back in 2007 with its “Watch Now” service. Since then, many players have joined the space - and you can’t blame them, the model of on-demand streaming is more streamlined (pardon-the-pun) and scalable than traditional distribution methods. It has provided those with valuable intellectual property such as movies and TV shows a new and efficient way to monetize these assets.</p><p><blockquote><h3><b>•Netflix的战略是达到规模，然后创建自己的内容</b></h3><h3><b>•其图书馆正在向原创内容转变</b></h3><h3><b>•随着规模的发挥，净利润率正在扩大</b></h3>点播流媒体是<a href=\"https://laohu8.com/S/AONE\">一</a>21世纪最具竞争力的行业之一。<b>Netflix</b><b><u>纳斯达克：NFLX</u></b><b>)</b>是2007年推出“立即观看”服务的先驱。从那以后，许多玩家加入了这个领域——你不能责怪他们，点播流媒体的模式比传统的分发方式更加精简（原谅双关语）和可扩展。它为那些拥有电影和电视节目等有价值的知识产权的人提供了一种新的有效方式来将这些资产货币化。</blockquote></p><p> Some expect the on-demand streaming industry to reach 2 billion users by 2025, which would be a 65% increase from 2020 figures.</p><p><blockquote>一些人预计，到2025年，点播流媒体行业的用户将达到20亿，比2020年的数字增长65%。</blockquote></p><p> Being the first mover 14 years ago has allowed Netflix to get a headstart in acquiring users and building its market-leading user base of 204m. However, this lead will not be easy to maintain. In this piece, we want to cover Netflix’s strategies to get where it is today, how it could maintain its lead and what that will do to the business’ economics.</p><p><blockquote>作为14年前的先行者，Netflix在获取用户和建立2.04亿市场领先的用户群方面取得了领先地位。然而，这种领先优势并不容易保持。在这篇文章中，我们希望介绍Netflix实现今天的战略、如何保持领先地位以及这将对企业的经济效益产生什么影响。</blockquote></p><p> <h2><b>Netflix’s strategy</b></h2> Netflix is a streaming service for content. Its strategy was simple: grow its subscriber base to reach scale quickly by distributing quality content through a great user experience. Then, once it reaches scale, create its own content to become less reliant on external studios and allow itself to generate higher margins through fixed production costs rather than variable licensing fees.</p><p><blockquote><h2><b>奈飞的策略</b></h2>网飞是一个内容流媒体服务。它的策略很简单：通过出色的用户体验分发高质量的内容，扩大用户群以快速达到规模。然后，一旦它达到规模，创建自己的内容，减少对外部工作室的依赖，并允许自己通过固定的制作成本而不是可变的许可费产生更高的利润。</blockquote></p><p> In the early days, this content was all licensed from other studios that actually owned the rights. Netflix paid them licensing fees and, before the company had scale, it was at the mercy of these content providers. Until Netflix was to reach scale (a large enough paying user base), this model typically benefitted the content owners more than the content distributors.</p><p><blockquote>在早期，这些内容都是从其他实际拥有版权的工作室那里获得许可的。Netflix向他们支付了许可费，在公司形成规模之前，它受到了这些内容提供商的摆布。在Netflix达到规模（足够大的付费用户群）之前，这种模式通常比内容分销商更有利于内容所有者。</blockquote></p><p> That’s why in 2013, when the company reached 34m paying subscribers, it began to generate its own content. One of its first productions was the hugely successful and award-winning <i>House of Cards</i>. As the company has continued to grow its user base, it has continued to create its own content in house. By February 2021, when Netflix surpassed 204m paying subscribers, the company reportedly had around 1,500 Netflix original titles, which was roughly 10% of its total international library of 15,000 titles.</p><p><blockquote>这就是为什么在2013年，当该公司的付费用户达到3400万时，它开始生成自己的内容。它的第一部作品之一获得了巨大的成功并获奖<i>纸牌屋</i>随着该公司用户群的不断增长，它继续在内部创建自己的内容。据报道，到2021年2月，当Netflix的付费用户超过2.04亿时，该公司拥有约1,500部Netflix原创图书，约占其国际图书馆15,000部图书总数的10%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea2c3b3b37fcfc1064cfda24c06d0284\" tg-width=\"1122\" tg-height=\"1006\"><span>Source: Netflix</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Netflix</span></p></blockquote></p><p> Since Netflix has now reached scale and established a market leading position, it needs to continue doubling down on the second part of its strategy to maintain that lead, which is: make more of its own content.</p><p><blockquote>由于Netflix现在已经达到规模并建立了市场领先地位，它需要继续加倍努力实现其战略的第二部分以保持领先地位，即：制作更多自己的内容。</blockquote></p><p> <h2><b>Maintaining its lead</b></h2> It’s <a href=\"https://laohu8.com/S/AONE.U\">one</a> thing to generate a lead, but it’s another to maintain it. Since there’s plenty of streaming options out there such as Disney+, Amazon Prime, Youtube Premium, and users are spoilt for choice. However, while these consumers have a vast array of content at their fingertips, not all of it is “great” content and they only have so much spare time to consume it. That’s why Netflix’s goal is for consumers to “choose Netflix in their moments of free time”. To do this, Netflix knows it needs to provide unique content that is more appealing than others, and deliver it through a seamless user experience.</p><p><blockquote><h2><b>保持领先地位</b></h2>这是<a href=\"https://laohu8.com/S/AONE.U\">一</a>产生销售线索是一回事，但保持销售线索是另一回事。因为有很多流媒体选项，如Disney+、Amazon Prime、Youtube Premium，用户的选择太多了。然而，虽然这些消费者手边有大量的内容，但并不是所有的内容都是“伟大的”内容，他们只有这么多的空闲时间来消费这些内容。这就是为什么Netflix的目标是让消费者“在空闲时间选择Netflix”。要做到这一点，Netflix知道它需要提供比其他内容更有吸引力的独特内容，并通过无缝的用户体验来交付。</blockquote></p><p> Since the company seems to have the user experience mostly in order, a lot of its focus has been on growing the amount of unique content it serves, especially its originals. And we can see Netflix’s shift in spending in the company's cost of revenue expense and the company’s content assets.</p><p><blockquote>由于该公司的用户体验似乎基本正常，因此它的大部分重点都放在增加其提供的独特内容的数量上，尤其是原创内容。我们可以看到Netflix在公司收入支出成本和公司内容资产方面的支出转变。</blockquote></p><p> Netflix’s cost of revenue is its primary expense and was $15.2bn for 2020 (61% of revenue). Two thirds of this ($10.8bn) is made up of the amortization of its content assets.</p><p><blockquote>Netflix的收入成本是其主要支出，2020年为152亿美元（占收入的61%）。其中三分之二（108亿美元）由其内容资产的摊销组成。</blockquote></p><p> Amortization is a method for writing off the cost of the content over its useful life, rather than incurring the cost up front. On average, over 90% of Netflix’s licensed or produced content is amortized over 4 years. So for example, on average, a $100m license fee for a TV show might be amortized at $25m per year over 4 years instead of all at once.</p><p><blockquote>摊销是一种在内容的使用寿命内冲销其成本的方法，而不是预先产生成本。平均而言，超过90%的网飞许可或制作内容在4年内摊销。例如，平均而言，一个电视节目1亿美元的许可费可能会在4年内以每年2500万美元的速度摊销，而不是一次全部摊销。</blockquote></p><p> The chart below shows just how much amortization of content has occurred leading up to 2019 as well as cash spend on content.</p><p><blockquote>下图显示了截至2019年的内容摊销金额以及内容上的现金支出。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf9c9277c0f8a9fba4bf1fb9d9b5e3c5\" tg-width=\"1508\" tg-height=\"818\"><span>Source: Next Level Finance</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：下一级财经</span></p></blockquote></p><p></p><p> You’ll notice the cash spend column beside the amortization column. Cash spend is recorded in the statement of cash flows and represents the money Netflix spends upfront to produce its own content. Importantly, this disparity between the two columns reflects that the company is spending more on producing its own content since cash spend is increasing at a faster rate than amortization.</p><p><blockquote>您会注意到摊销列旁边的现金支出列。现金支出记录在现金流量表中，代表Netflix为制作自己的内容而预先花费的资金。重要的是，两栏之间的差异反映出该公司在制作自己的内容上花费更多，因为现金支出的增长速度快于摊销。</blockquote></p><p> For 2020, content amortization reached $10.8bn and cash spend reduced to $12.5bn, but it was still higher than the amortization expense.</p><p><blockquote>2020年，内容摊销达到108亿美元，现金支出减少至125亿美元，但仍高于摊销费用。</blockquote></p><p> This transition of increasing spend on original content then shows up in the company’s content assets split too.</p><p><blockquote>这种增加原创内容支出的转变也体现在公司的内容资产分割中。</blockquote></p><p> In 2016, the company had $11bn worth of content assets, which was split between 86% licensed content, and 14% original content. However, by 2020, content assets reached $25bn and the split was now 54% licensed to 46% original. This shift is helping the company become less at risk of studios pulling their content, because it has more of its own to showcase.</p><p><blockquote>2016年，该公司拥有价值110亿美元的内容资产，其中86%为授权内容，14%为原创内容。然而，到2020年，内容资产达到250亿美元，现在54%是授权的，46%是原创的。这种转变有助于该公司降低工作室撤回其内容的风险，因为它有更多自己的内容可以展示。</blockquote></p><p> Releasing and owning unique titles such as Stranger Things, House of Cards, The Crown, The Witcher, or The Queen’s Gambit are crucial for Netflix to maintain its lead. It gives their existing users all the more reason to keep their subscriptions as new titles like these are released, and it gives prospective users all the more reason to sign up if they want to view these exclusives.</p><p><blockquote>发行和拥有独特的游戏，如《奇异事物》、《纸牌屋》、《王冠》、《巫师》或《女王的策略》，对于网飞保持领先地位至关重要。随着像这样的新游戏的发布，它给了他们现有的用户更多的理由保持他们的订阅，它给了潜在用户更多的理由注册，如果他们想查看这些独家新闻。</blockquote></p><p> This transition to original content is helping the company build its own moat by becoming less reliant on external providers. As Netflix becomes both the producer and distributor of a larger portion of its content library, this creates a lot of operating leverage and thus helps the company’s bottom line.</p><p><blockquote>这种向原创内容的过渡正在帮助该公司通过减少对外部提供商的依赖来建立自己的护城河。随着Netflix成为其大部分内容库的生产商和分销商，这创造了大量的运营杠杆，从而有助于公司的利润。</blockquote></p><p> <h2><b>How this impacts the economics</b></h2> The positive financial impact of reaching a huge operating scale in a business like Netflix cannot be understated. Additionally, the expansion of originals in its content library exaggerates the positive effects that scale has on the company’s bottom line. This effect can already be seen over the last five years, and analysts expect this to continue over the next five.</p><p><blockquote><h2><b>这对经济有何影响</b></h2>在像网飞这样的企业中达到巨大的运营规模所带来的积极财务影响不可低估。此外，其内容库中原创作品的扩展夸大了规模对公司利润的积极影响。这种影响在过去五年中已经可以看到，分析师预计这种影响将在未来五年持续下去。</blockquote></p><p> In 2016, net profit margins were only 2.1% but reached 11% in 2020. This is thanks to the 120% increase in paying subscribers (to 204m) and the aforementioned increase in fixed cost original content. Looking forward, analysts expect further growth in revenue and earnings thanks to more subscriber growth and an increase in original content as a percentage of total titles. By 2025, the company is expected to double revenue to $51bn and increase earnings more than 4-fold to $12bn, which would result in further net margin expansion to 23.5%.</p><p><blockquote>2016年，净利润率仅为2.1%，但2020年达到11%。这要归功于付费用户增长120%（达到2.04亿）以及上述固定成本原创内容的增长。展望未来，分析师预计，由于订户数量的增加以及原创内容占总标题百分比的增加，收入和盈利将进一步增长。到2025年，该公司预计收入将翻一番，达到510亿美元，盈利将增长4倍以上，达到120亿美元，这将导致净利润率进一步扩大至23.5%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/90dda28b7a97c864def67fed7695916e\" tg-width=\"1702\" tg-height=\"1186\"><span>Source: Earnings and Revenue Growth Forecasts - NASDAQ:NFLX - Simply Wall St</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：盈利和收入增长预测-纳斯达克：NFLX-Simply Wall ST</span></p></blockquote></p><p> It should be noted that while Netflix will need to continue creating its own content to remain relevant and satisfy user demand, its scale is now at a stage where this is affordable.</p><p><blockquote>应该指出的是，虽然Netflix将需要继续创建自己的内容以保持相关性并满足用户需求，但其规模现在处于可承受的阶段。</blockquote></p><p> Additionally, with this leading scale, those studios that do license their content to Netflix (because they don’t have a streaming platform of their own) will either have to start one of their own from square one and find users to make it economical, or look for a better license deal from a different streaming service (which might be difficult given Netflix is the biggest and likely able to pay them the most).</p><p><blockquote>此外，凭借这种领先的规模，那些将其内容授权给网飞的工作室（因为他们没有自己的流媒体平台）要么必须从头开始创建自己的流媒体平台，并找到用户以使其经济，要么从不同的流媒体服务中寻找更好的许可协议（这可能很困难，因为网飞是最大的，可能能够向他们支付最多的费用）。</blockquote></p><p> <h2><b>Summing it up</b></h2> Netflix’s core focus for a long time has been its subscriber growth since this is key to becoming profitable. The company’s growing investment into originals is aimed at acquiring even more users, and its vast library of titles is used to retain them. Both its scale and unique content help to solidify the company’s moat and let it generate more profit from each piece of content. Analysts expect that this trend of user growth and original content creation will continue, and as a result, growth in Netflix’s top and bottom line is expected to persist out to at least 2025.</p><p><blockquote><h2><b>总结一下</b></h2>Netflix长期以来的核心关注点一直是用户增长，因为这是盈利的关键。该公司对原创作品不断增长的投资旨在获得更多用户，其庞大的图书库被用来留住他们。其规模和独特的内容都有助于巩固公司的护城河，让其从每条内容中产生更多利润。分析师预计，这种用户增长和原创内容创作的趋势将持续下去，因此，Netflix的营收和利润增长预计将至少持续到2025年。</blockquote></p><p> While all of this growth is impressive, it did come with some strings attached. Netflix levered up and by 2020 year end it had $16bn in debt. Our company report on Netflix contains a full breakdown of the company’s financial health and its ability to fund the debt.</p><p><blockquote>虽然所有这些增长令人印象深刻，但它确实伴随着一些附加条件。Netflix提高了杠杆率，到2020年底，其债务已达160亿美元。我们关于Netflix的公司报告包含该公司财务健康状况及其为债务融资能力的完整明细。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://simplywall.st/stocks/us/media/nasdaq-nflx/netflix/news/netflixs-nasdaqnflx-scale-is-the-key-to-its-profitability\">Simply Wall St.</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":{"NFLX":"奈飞"},"source_url":"https://simplywall.st/stocks/us/media/nasdaq-nflx/netflix/news/netflixs-nasdaqnflx-scale-is-the-key-to-its-profitability","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2120580281","content_text":"• Netflix's strategy was to reach scale, then create its own content\n• Its library is shifting towards original content\n• Net margins are expanding as scale takes effect\nOn-demand streaming is one of the most competitive industries in the 21st century. Netflix (NASDAQ:NFLX) was the pioneer back in 2007 with its “Watch Now” service. Since then, many players have joined the space - and you can’t blame them, the model of on-demand streaming is more streamlined (pardon-the-pun) and scalable than traditional distribution methods. It has provided those with valuable intellectual property such as movies and TV shows a new and efficient way to monetize these assets.\nSome expect the on-demand streaming industry to reach 2 billion users by 2025, which would be a 65% increase from 2020 figures.\nBeing the first mover 14 years ago has allowed Netflix to get a headstart in acquiring users and building its market-leading user base of 204m. However, this lead will not be easy to maintain. In this piece, we want to cover Netflix’s strategies to get where it is today, how it could maintain its lead and what that will do to the business’ economics.\nNetflix’s strategy\nNetflix is a streaming service for content. Its strategy was simple: grow its subscriber base to reach scale quickly by distributing quality content through a great user experience. Then, once it reaches scale, create its own content to become less reliant on external studios and allow itself to generate higher margins through fixed production costs rather than variable licensing fees.\nIn the early days, this content was all licensed from other studios that actually owned the rights. Netflix paid them licensing fees and, before the company had scale, it was at the mercy of these content providers. Until Netflix was to reach scale (a large enough paying user base), this model typically benefitted the content owners more than the content distributors.\nThat’s why in 2013, when the company reached 34m paying subscribers, it began to generate its own content. One of its first productions was the hugely successful and award-winning House of Cards. As the company has continued to grow its user base, it has continued to create its own content in house. By February 2021, when Netflix surpassed 204m paying subscribers, the company reportedly had around 1,500 Netflix original titles, which was roughly 10% of its total international library of 15,000 titles.\nSource: Netflix\nSince Netflix has now reached scale and established a market leading position, it needs to continue doubling down on the second part of its strategy to maintain that lead, which is: make more of its own content.\nMaintaining its lead\nIt’s one thing to generate a lead, but it’s another to maintain it. Since there’s plenty of streaming options out there such as Disney+, Amazon Prime, Youtube Premium, and users are spoilt for choice. However, while these consumers have a vast array of content at their fingertips, not all of it is “great” content and they only have so much spare time to consume it. That’s why Netflix’s goal is for consumers to “choose Netflix in their moments of free time”. To do this, Netflix knows it needs to provide unique content that is more appealing than others, and deliver it through a seamless user experience.\nSince the company seems to have the user experience mostly in order, a lot of its focus has been on growing the amount of unique content it serves, especially its originals. And we can see Netflix’s shift in spending in the company's cost of revenue expense and the company’s content assets.\nNetflix’s cost of revenue is its primary expense and was $15.2bn for 2020 (61% of revenue). Two thirds of this ($10.8bn) is made up of the amortization of its content assets.\nAmortization is a method for writing off the cost of the content over its useful life, rather than incurring the cost up front. On average, over 90% of Netflix’s licensed or produced content is amortized over 4 years. So for example, on average, a $100m license fee for a TV show might be amortized at $25m per year over 4 years instead of all at once.\nThe chart below shows just how much amortization of content has occurred leading up to 2019 as well as cash spend on content.\nSource: Next Level Finance\nYou’ll notice the cash spend column beside the amortization column. Cash spend is recorded in the statement of cash flows and represents the money Netflix spends upfront to produce its own content. Importantly, this disparity between the two columns reflects that the company is spending more on producing its own content since cash spend is increasing at a faster rate than amortization.\nFor 2020, content amortization reached $10.8bn and cash spend reduced to $12.5bn, but it was still higher than the amortization expense.\nThis transition of increasing spend on original content then shows up in the company’s content assets split too.\nIn 2016, the company had $11bn worth of content assets, which was split between 86% licensed content, and 14% original content. However, by 2020, content assets reached $25bn and the split was now 54% licensed to 46% original. This shift is helping the company become less at risk of studios pulling their content, because it has more of its own to showcase.\nReleasing and owning unique titles such as Stranger Things, House of Cards, The Crown, The Witcher, or The Queen’s Gambit are crucial for Netflix to maintain its lead. It gives their existing users all the more reason to keep their subscriptions as new titles like these are released, and it gives prospective users all the more reason to sign up if they want to view these exclusives.\nThis transition to original content is helping the company build its own moat by becoming less reliant on external providers. As Netflix becomes both the producer and distributor of a larger portion of its content library, this creates a lot of operating leverage and thus helps the company’s bottom line.\nHow this impacts the economics\nThe positive financial impact of reaching a huge operating scale in a business like Netflix cannot be understated. Additionally, the expansion of originals in its content library exaggerates the positive effects that scale has on the company’s bottom line. This effect can already be seen over the last five years, and analysts expect this to continue over the next five.\nIn 2016, net profit margins were only 2.1% but reached 11% in 2020. This is thanks to the 120% increase in paying subscribers (to 204m) and the aforementioned increase in fixed cost original content. Looking forward, analysts expect further growth in revenue and earnings thanks to more subscriber growth and an increase in original content as a percentage of total titles. By 2025, the company is expected to double revenue to $51bn and increase earnings more than 4-fold to $12bn, which would result in further net margin expansion to 23.5%.\nSource: Earnings and Revenue Growth Forecasts - NASDAQ:NFLX - Simply Wall St\nIt should be noted that while Netflix will need to continue creating its own content to remain relevant and satisfy user demand, its scale is now at a stage where this is affordable.\nAdditionally, with this leading scale, those studios that do license their content to Netflix (because they don’t have a streaming platform of their own) will either have to start one of their own from square one and find users to make it economical, or look for a better license deal from a different streaming service (which might be difficult given Netflix is the biggest and likely able to pay them the most).\nSumming it up\nNetflix’s core focus for a long time has been its subscriber growth since this is key to becoming profitable. The company’s growing investment into originals is aimed at acquiring even more users, and its vast library of titles is used to retain them. Both its scale and unique content help to solidify the company’s moat and let it generate more profit from each piece of content. Analysts expect that this trend of user growth and original content creation will continue, and as a result, growth in Netflix’s top and bottom line is expected to persist out to at least 2025.\nWhile all of this growth is impressive, it did come with some strings attached. Netflix levered up and by 2020 year end it had $16bn in debt. Our company report on Netflix contains a full breakdown of the company’s financial health and its ability to fund the debt.","news_type":1,"symbols_score_info":{"NFLX":0.9}},"isVote":1,"tweetType":1,"viewCount":2791,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":350978896,"gmtCreate":1616155943615,"gmtModify":1634526968502,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"GME to the moon rocket","listText":"GME to the moon rocket","text":"GME to the moon rocket","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/350978896","repostId":"1143733672","repostType":4,"isVote":1,"tweetType":1,"viewCount":2110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150267085,"gmtCreate":1624914560447,"gmtModify":1633947197877,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"great !","listText":"great !","text":"great !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/150267085","repostId":"1184667820","repostType":4,"repost":{"id":"1184667820","kind":"news","pubTimestamp":1624890163,"share":"https://www.laohu8.com/m/news/1184667820?lang=zh_CN&edition=full","pubTime":"2021-06-28 22:22","market":"us","language":"en","title":"Boeing’s Newest Jet Is Delayed. Other Issues Are More Important.<blockquote>波音公司最新的喷气式飞机延误了。其他问题更为重要。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184667820","media":"Barrons","summary":"The commercial aerospace giant Boeing got a bit of bad news about its latest 777 jet, the 777X. The ","content":"<p>The commercial aerospace giant Boeing got a bit of bad news about its latest 777 jet, the 777X. The Federal Aviation Administration told the company recently the jet likely won’t be approved for commercial service until mid-2023.</p><p><blockquote>商业航空航天巨头波音公司收到了一些关于其最新777喷气式飞机777X的坏消息。美国联邦航空管理局最近告诉该公司，这架飞机可能要到2023年中期才会被批准投入商业服务。</blockquote></p><p> That timeline, contained in a May letter from the regulator to the company, is longer than investors might have expected, but it isn’t actually all that bad for the stock. Boeing didn’t immediately reply to a request for comment.</p><p><blockquote>监管机构5月份致该公司的一封信中包含的时间表比投资者预期的要长，但实际上对该股来说并没有那么糟糕。波音公司没有立即回复置评请求。</blockquote></p><p> The 777X took its maiden test flight back in&nbsp;January 2020. That might have put it on track to be approved by mid-2021, based on the way the industry worked a few years ago. Consider that the&nbsp;737 MAX&nbsp;jet took its initial flight in early 2016 and was approved for service about 14 months later. Deliveries began around mid-2017.</p><p><blockquote>777X于2020年1月进行了首次试飞。根据该行业几年前的运作方式，这可能会使其有望在2021年中期获得批准。考虑到737 MAX喷气式飞机于2016年初首飞，并在大约14个月后获准服役。交付于2017年中期左右开始。</blockquote></p><p> But the MAX, of course, was grounded in March 2019 following two deadly crashes within five months. It took&nbsp;20-plus months&nbsp;of design modifications, additional testing, and regulatory oversight, for Boeing to win permission for the jet to carry passengers again.</p><p><blockquote>但MAX在五个月内发生两起致命事故后，于2019年3月停飞。波音公司花了20多个月的设计修改、额外测试和监管监督，才获得该飞机再次载客的许可。</blockquote></p><p> The MAX situation caused changes at Boeing, including new&nbsp;safety committees, as well as alterations to the FAA’s&nbsp;oversight process. Those shifts could be stretching out the approval process for new planes. The pandemic probably didn’t help the 777x approval timeline either.</p><p><blockquote>MAX的情况引起了波音公司的变化，包括新的安全委员会，以及美国联邦航空局监督流程的改变。这些转变可能会延长新飞机的审批流程。疫情可能也没有帮助777x的批准时间表。</blockquote></p><p> Regardless of the reasons, the approval process has been slow. Boeing investors aren’t thrilled with news of the delay, although deliveries of MAX jets and the recovery of the commercial aerospace business are bigger concerns. Shares were down about 2.8% at $241.56 in early trading, while the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average&nbsp;were nearly flat.</p><p><blockquote>不管是什么原因，审批过程一直很慢。波音投资者对延误的消息并不感到兴奋，尽管MAX喷气式飞机的交付和商业航空航天业务的复苏是更大的担忧。早盘股价下跌约2.8%，至241.56美元，而标准普尔500指数和道琼斯工业平均指数几乎持平。</blockquote></p><p> Vertical Research Partners analyst&nbsp;Rob Stallard&nbsp;summed up all of the positives and negatives for Boeing in a Monday report. The 777X delay is a regulatory problem, but it is only one of three he mentioned. China, for instance, hasn’t reapproved the 737 MAX yet, and the 787 still faces some reviews.</p><p><blockquote>Vertical Research Partners分析师Rob Stallard在周一的一份报告中总结了波音公司的所有积极和消极因素。777X延迟是一个监管问题，但这只是他提到的三个问题之一。例如，中国尚未重新批准737 MAX，787仍面临一些审查。</blockquote></p><p> On the positive side of the equation, new orders for the 737 MAX are starting to come in. He expects&nbsp;United Airlines(UAL) to announce an order for about 100 MAX jets in coming days.</p><p><blockquote>从积极的一面来看，737 MAX的新订单开始到来。他预计联合航空（UAL）将在未来几天宣布约100架MAX喷气式飞机的订单。</blockquote></p><p> The “roller coaster ride continues” for Boeing stock, he said, noting that “this week’s events probably don’t have an immediate impact on our numbers.” His target price for Boeing stock remains $242 a share. He rates shares at Hold.</p><p><blockquote>他表示，波音股票的“过山车之旅仍在继续”，并指出“本周的事件可能不会对我们的数据产生直接影响。”他对波音股票的目标价仍为每股242美元。他将股票评级为持有。</blockquote></p><p> Stallard is a little more bearish than his peers. Overall, about 57% of analysts covering the stock rate the shares at Buy. The&nbsp;average&nbsp;Buy-rating ratio for stocks in the S&amp;P 500 is about 55%. The averageprice targetamong analysts is about $267.</p><p><blockquote>斯塔拉德比他的同行更悲观一些。总体而言，约57%的分析师将该股评级为买入。标普500股票的平均买入评级比率约为55%。分析师的平均目标价约为267美元。</blockquote></p><p> The biggest issue facing the entire commercial aerospace industry is postpandemic demand. June 2021 U.S. commercial air travel is down&nbsp;roughly 25%&nbsp;compared with 2019 levels. But it is up almost 300% compared with June 2020.</p><p><blockquote>整个商业航天行业面临的最大问题是大流行后的需求。与2019年相比，2021年6月美国商业航空旅行下降了约25%。但与2020年6月相比，上涨了近300%。</blockquote></p><p> Things are slowly getting better for the industry. United Airlines, for instance, said Monday it expects&nbsp;a profit in July. It would be the airline’s first monthly profit since January 2020.</p><p><blockquote>该行业的情况正在慢慢好转。例如，联合航空周一表示，预计7月份将实现盈利。这将是该航空公司自2020年1月以来首次实现月度盈利。</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>Boeing’s Newest Jet Is Delayed. Other Issues Are More Important.<blockquote>波音公司最新的喷气式飞机延误了。其他问题更为重要。</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\">\nBoeing’s Newest Jet Is Delayed. Other Issues Are More Important.<blockquote>波音公司最新的喷气式飞机延误了。其他问题更为重要。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-28 22:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The commercial aerospace giant Boeing got a bit of bad news about its latest 777 jet, the 777X. The Federal Aviation Administration told the company recently the jet likely won’t be approved for commercial service until mid-2023.</p><p><blockquote>商业航空航天巨头波音公司收到了一些关于其最新777喷气式飞机777X的坏消息。美国联邦航空管理局最近告诉该公司，这架飞机可能要到2023年中期才会被批准投入商业服务。</blockquote></p><p> That timeline, contained in a May letter from the regulator to the company, is longer than investors might have expected, but it isn’t actually all that bad for the stock. Boeing didn’t immediately reply to a request for comment.</p><p><blockquote>监管机构5月份致该公司的一封信中包含的时间表比投资者预期的要长，但实际上对该股来说并没有那么糟糕。波音公司没有立即回复置评请求。</blockquote></p><p> The 777X took its maiden test flight back in&nbsp;January 2020. That might have put it on track to be approved by mid-2021, based on the way the industry worked a few years ago. Consider that the&nbsp;737 MAX&nbsp;jet took its initial flight in early 2016 and was approved for service about 14 months later. Deliveries began around mid-2017.</p><p><blockquote>777X于2020年1月进行了首次试飞。根据该行业几年前的运作方式，这可能会使其有望在2021年中期获得批准。考虑到737 MAX喷气式飞机于2016年初首飞，并在大约14个月后获准服役。交付于2017年中期左右开始。</blockquote></p><p> But the MAX, of course, was grounded in March 2019 following two deadly crashes within five months. It took&nbsp;20-plus months&nbsp;of design modifications, additional testing, and regulatory oversight, for Boeing to win permission for the jet to carry passengers again.</p><p><blockquote>但MAX在五个月内发生两起致命事故后，于2019年3月停飞。波音公司花了20多个月的设计修改、额外测试和监管监督，才获得该飞机再次载客的许可。</blockquote></p><p> The MAX situation caused changes at Boeing, including new&nbsp;safety committees, as well as alterations to the FAA’s&nbsp;oversight process. Those shifts could be stretching out the approval process for new planes. The pandemic probably didn’t help the 777x approval timeline either.</p><p><blockquote>MAX的情况引起了波音公司的变化，包括新的安全委员会，以及美国联邦航空局监督流程的改变。这些转变可能会延长新飞机的审批流程。疫情可能也没有帮助777x的批准时间表。</blockquote></p><p> Regardless of the reasons, the approval process has been slow. Boeing investors aren’t thrilled with news of the delay, although deliveries of MAX jets and the recovery of the commercial aerospace business are bigger concerns. Shares were down about 2.8% at $241.56 in early trading, while the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average&nbsp;were nearly flat.</p><p><blockquote>不管是什么原因，审批过程一直很慢。波音投资者对延误的消息并不感到兴奋，尽管MAX喷气式飞机的交付和商业航空航天业务的复苏是更大的担忧。早盘股价下跌约2.8%，至241.56美元，而标准普尔500指数和道琼斯工业平均指数几乎持平。</blockquote></p><p> Vertical Research Partners analyst&nbsp;Rob Stallard&nbsp;summed up all of the positives and negatives for Boeing in a Monday report. The 777X delay is a regulatory problem, but it is only one of three he mentioned. China, for instance, hasn’t reapproved the 737 MAX yet, and the 787 still faces some reviews.</p><p><blockquote>Vertical Research Partners分析师Rob Stallard在周一的一份报告中总结了波音公司的所有积极和消极因素。777X延迟是一个监管问题，但这只是他提到的三个问题之一。例如，中国尚未重新批准737 MAX，787仍面临一些审查。</blockquote></p><p> On the positive side of the equation, new orders for the 737 MAX are starting to come in. He expects&nbsp;United Airlines(UAL) to announce an order for about 100 MAX jets in coming days.</p><p><blockquote>从积极的一面来看，737 MAX的新订单开始到来。他预计联合航空（UAL）将在未来几天宣布约100架MAX喷气式飞机的订单。</blockquote></p><p> The “roller coaster ride continues” for Boeing stock, he said, noting that “this week’s events probably don’t have an immediate impact on our numbers.” His target price for Boeing stock remains $242 a share. He rates shares at Hold.</p><p><blockquote>他表示，波音股票的“过山车之旅仍在继续”，并指出“本周的事件可能不会对我们的数据产生直接影响。”他对波音股票的目标价仍为每股242美元。他将股票评级为持有。</blockquote></p><p> Stallard is a little more bearish than his peers. Overall, about 57% of analysts covering the stock rate the shares at Buy. The&nbsp;average&nbsp;Buy-rating ratio for stocks in the S&amp;P 500 is about 55%. The averageprice targetamong analysts is about $267.</p><p><blockquote>斯塔拉德比他的同行更悲观一些。总体而言，约57%的分析师将该股评级为买入。标普500股票的平均买入评级比率约为55%。分析师的平均目标价约为267美元。</blockquote></p><p> The biggest issue facing the entire commercial aerospace industry is postpandemic demand. June 2021 U.S. commercial air travel is down&nbsp;roughly 25%&nbsp;compared with 2019 levels. But it is up almost 300% compared with June 2020.</p><p><blockquote>整个商业航天行业面临的最大问题是大流行后的需求。与2019年相比，2021年6月美国商业航空旅行下降了约25%。但与2020年6月相比，上涨了近300%。</blockquote></p><p> Things are slowly getting better for the industry. United Airlines, for instance, said Monday it expects&nbsp;a profit in July. It would be the airline’s first monthly profit since January 2020.</p><p><blockquote>该行业的情况正在慢慢好转。例如，联合航空周一表示，预计7月份将实现盈利。这将是该航空公司自2020年1月以来首次实现月度盈利。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/faa-delay-boeing-777x-jet-stock-51624889202?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":{"BA":"波音"},"source_url":"https://www.barrons.com/articles/faa-delay-boeing-777x-jet-stock-51624889202?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184667820","content_text":"The commercial aerospace giant Boeing got a bit of bad news about its latest 777 jet, the 777X. The Federal Aviation Administration told the company recently the jet likely won’t be approved for commercial service until mid-2023.\nThat timeline, contained in a May letter from the regulator to the company, is longer than investors might have expected, but it isn’t actually all that bad for the stock. Boeing didn’t immediately reply to a request for comment.\nThe 777X took its maiden test flight back in January 2020. That might have put it on track to be approved by mid-2021, based on the way the industry worked a few years ago. Consider that the 737 MAX jet took its initial flight in early 2016 and was approved for service about 14 months later. Deliveries began around mid-2017.\nBut the MAX, of course, was grounded in March 2019 following two deadly crashes within five months. It took 20-plus months of design modifications, additional testing, and regulatory oversight, for Boeing to win permission for the jet to carry passengers again.\nThe MAX situation caused changes at Boeing, including new safety committees, as well as alterations to the FAA’s oversight process. Those shifts could be stretching out the approval process for new planes. The pandemic probably didn’t help the 777x approval timeline either.\nRegardless of the reasons, the approval process has been slow. Boeing investors aren’t thrilled with news of the delay, although deliveries of MAX jets and the recovery of the commercial aerospace business are bigger concerns. Shares were down about 2.8% at $241.56 in early trading, while the S&P 500 and Dow Jones Industrial Average were nearly flat.\nVertical Research Partners analyst Rob Stallard summed up all of the positives and negatives for Boeing in a Monday report. The 777X delay is a regulatory problem, but it is only one of three he mentioned. China, for instance, hasn’t reapproved the 737 MAX yet, and the 787 still faces some reviews.\nOn the positive side of the equation, new orders for the 737 MAX are starting to come in. He expects United Airlines(UAL) to announce an order for about 100 MAX jets in coming days.\nThe “roller coaster ride continues” for Boeing stock, he said, noting that “this week’s events probably don’t have an immediate impact on our numbers.” His target price for Boeing stock remains $242 a share. He rates shares at Hold.\nStallard is a little more bearish than his peers. Overall, about 57% of analysts covering the stock rate the shares at Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 55%. The averageprice targetamong analysts is about $267.\nThe biggest issue facing the entire commercial aerospace industry is postpandemic demand. June 2021 U.S. commercial air travel is down roughly 25% compared with 2019 levels. But it is up almost 300% compared with June 2020.\nThings are slowly getting better for the industry. United Airlines, for instance, said Monday it expects a profit in July. It would be the airline’s first monthly profit since January 2020.","news_type":1,"symbols_score_info":{"BA":0.9}},"isVote":1,"tweetType":1,"viewCount":1543,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327974153,"gmtCreate":1616055725772,"gmtModify":1703496956691,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"love netflix","listText":"love netflix","text":"love netflix","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327974153","repostId":"2120580281","repostType":4,"repost":{"id":"2120580281","kind":"news","pubTimestamp":1616055682,"share":"https://www.laohu8.com/m/news/2120580281?lang=zh_CN&edition=full","pubTime":"2021-03-18 16:21","market":"us","language":"en","title":"Netflix’s Scale Is The Key To Its Profitability<blockquote>Netflix的规模是其盈利的关键</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2120580281","media":"Simply Wall St.","summary":"• Netflix's strategy was to reach scale, then create its own content\n• Its library is shifting towar","content":"<p><h3><b>• Netflix's strategy was to reach scale, then create its own content</b></h3> <h3><b>• Its library is shifting towards original content</b></h3> <h3><b>• Net margins are expanding as scale takes effect</b></h3> On-demand streaming is <a href=\"https://laohu8.com/S/AONE\">one</a> of the most competitive industries in the 21st century. <b>Netflix (</b><b><u>NASDAQ:NFLX</u></b><b>)</b> was the pioneer back in 2007 with its “Watch Now” service. Since then, many players have joined the space - and you can’t blame them, the model of on-demand streaming is more streamlined (pardon-the-pun) and scalable than traditional distribution methods. It has provided those with valuable intellectual property such as movies and TV shows a new and efficient way to monetize these assets.</p><p><blockquote><h3><b>•Netflix的战略是达到规模，然后创建自己的内容</b></h3><h3><b>•其图书馆正在向原创内容转变</b></h3><h3><b>•随着规模的发挥，净利润率正在扩大</b></h3>点播流媒体是<a href=\"https://laohu8.com/S/AONE\">一</a>21世纪最具竞争力的行业之一。<b>Netflix</b><b><u>纳斯达克：NFLX</u></b><b>)</b>是2007年推出“立即观看”服务的先驱。从那以后，许多玩家加入了这个领域——你不能责怪他们，点播流媒体的模式比传统的分发方式更加精简（原谅双关语）和可扩展。它为那些拥有电影和电视节目等有价值的知识产权的人提供了一种新的有效方式来将这些资产货币化。</blockquote></p><p> Some expect the on-demand streaming industry to reach 2 billion users by 2025, which would be a 65% increase from 2020 figures.</p><p><blockquote>一些人预计，到2025年，点播流媒体行业的用户将达到20亿，比2020年的数字增长65%。</blockquote></p><p> Being the first mover 14 years ago has allowed Netflix to get a headstart in acquiring users and building its market-leading user base of 204m. However, this lead will not be easy to maintain. In this piece, we want to cover Netflix’s strategies to get where it is today, how it could maintain its lead and what that will do to the business’ economics.</p><p><blockquote>作为14年前的先行者，Netflix在获取用户和建立2.04亿市场领先的用户群方面取得了领先地位。然而，这种领先优势并不容易保持。在这篇文章中，我们希望介绍Netflix实现今天的战略、如何保持领先地位以及这将对企业的经济效益产生什么影响。</blockquote></p><p> <h2><b>Netflix’s strategy</b></h2> Netflix is a streaming service for content. Its strategy was simple: grow its subscriber base to reach scale quickly by distributing quality content through a great user experience. Then, once it reaches scale, create its own content to become less reliant on external studios and allow itself to generate higher margins through fixed production costs rather than variable licensing fees.</p><p><blockquote><h2><b>奈飞的策略</b></h2>网飞是一个内容流媒体服务。它的策略很简单：通过出色的用户体验分发高质量的内容，扩大用户群以快速达到规模。然后，一旦它达到规模，创建自己的内容，减少对外部工作室的依赖，并允许自己通过固定的制作成本而不是可变的许可费产生更高的利润。</blockquote></p><p> In the early days, this content was all licensed from other studios that actually owned the rights. Netflix paid them licensing fees and, before the company had scale, it was at the mercy of these content providers. Until Netflix was to reach scale (a large enough paying user base), this model typically benefitted the content owners more than the content distributors.</p><p><blockquote>在早期，这些内容都是从其他实际拥有版权的工作室那里获得许可的。Netflix向他们支付了许可费，在公司形成规模之前，它受到了这些内容提供商的摆布。在Netflix达到规模（足够大的付费用户群）之前，这种模式通常比内容分销商更有利于内容所有者。</blockquote></p><p> That’s why in 2013, when the company reached 34m paying subscribers, it began to generate its own content. One of its first productions was the hugely successful and award-winning <i>House of Cards</i>. As the company has continued to grow its user base, it has continued to create its own content in house. By February 2021, when Netflix surpassed 204m paying subscribers, the company reportedly had around 1,500 Netflix original titles, which was roughly 10% of its total international library of 15,000 titles.</p><p><blockquote>这就是为什么在2013年，当该公司的付费用户达到3400万时，它开始生成自己的内容。它的第一部作品之一获得了巨大的成功并获奖<i>纸牌屋</i>随着该公司用户群的不断增长，它继续在内部创建自己的内容。据报道，到2021年2月，当Netflix的付费用户超过2.04亿时，该公司拥有约1,500部Netflix原创图书，约占其国际图书馆15,000部图书总数的10%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea2c3b3b37fcfc1064cfda24c06d0284\" tg-width=\"1122\" tg-height=\"1006\"><span>Source: Netflix</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Netflix</span></p></blockquote></p><p> Since Netflix has now reached scale and established a market leading position, it needs to continue doubling down on the second part of its strategy to maintain that lead, which is: make more of its own content.</p><p><blockquote>由于Netflix现在已经达到规模并建立了市场领先地位，它需要继续加倍努力实现其战略的第二部分以保持领先地位，即：制作更多自己的内容。</blockquote></p><p> <h2><b>Maintaining its lead</b></h2> It’s <a href=\"https://laohu8.com/S/AONE.U\">one</a> thing to generate a lead, but it’s another to maintain it. Since there’s plenty of streaming options out there such as Disney+, Amazon Prime, Youtube Premium, and users are spoilt for choice. However, while these consumers have a vast array of content at their fingertips, not all of it is “great” content and they only have so much spare time to consume it. That’s why Netflix’s goal is for consumers to “choose Netflix in their moments of free time”. To do this, Netflix knows it needs to provide unique content that is more appealing than others, and deliver it through a seamless user experience.</p><p><blockquote><h2><b>保持领先地位</b></h2>这是<a href=\"https://laohu8.com/S/AONE.U\">一</a>产生销售线索是一回事，但保持销售线索是另一回事。因为有很多流媒体选项，如Disney+、Amazon Prime、Youtube Premium，用户的选择太多了。然而，虽然这些消费者手边有大量的内容，但并不是所有的内容都是“伟大的”内容，他们只有这么多的空闲时间来消费这些内容。这就是为什么Netflix的目标是让消费者“在空闲时间选择Netflix”。要做到这一点，Netflix知道它需要提供比其他内容更有吸引力的独特内容，并通过无缝的用户体验来交付。</blockquote></p><p> Since the company seems to have the user experience mostly in order, a lot of its focus has been on growing the amount of unique content it serves, especially its originals. And we can see Netflix’s shift in spending in the company's cost of revenue expense and the company’s content assets.</p><p><blockquote>由于该公司的用户体验似乎基本正常，因此它的大部分重点都放在增加其提供的独特内容的数量上，尤其是原创内容。我们可以看到Netflix在公司收入支出成本和公司内容资产方面的支出转变。</blockquote></p><p> Netflix’s cost of revenue is its primary expense and was $15.2bn for 2020 (61% of revenue). Two thirds of this ($10.8bn) is made up of the amortization of its content assets.</p><p><blockquote>Netflix的收入成本是其主要支出，2020年为152亿美元（占收入的61%）。其中三分之二（108亿美元）由其内容资产的摊销组成。</blockquote></p><p> Amortization is a method for writing off the cost of the content over its useful life, rather than incurring the cost up front. On average, over 90% of Netflix’s licensed or produced content is amortized over 4 years. So for example, on average, a $100m license fee for a TV show might be amortized at $25m per year over 4 years instead of all at once.</p><p><blockquote>摊销是一种在内容的使用寿命内冲销其成本的方法，而不是预先产生成本。平均而言，超过90%的网飞许可或制作内容在4年内摊销。例如，平均而言，一个电视节目1亿美元的许可费可能会在4年内以每年2500万美元的速度摊销，而不是一次全部摊销。</blockquote></p><p> The chart below shows just how much amortization of content has occurred leading up to 2019 as well as cash spend on content.</p><p><blockquote>下图显示了截至2019年的内容摊销金额以及内容上的现金支出。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf9c9277c0f8a9fba4bf1fb9d9b5e3c5\" tg-width=\"1508\" tg-height=\"818\"><span>Source: Next Level Finance</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：下一级财经</span></p></blockquote></p><p></p><p> You’ll notice the cash spend column beside the amortization column. Cash spend is recorded in the statement of cash flows and represents the money Netflix spends upfront to produce its own content. Importantly, this disparity between the two columns reflects that the company is spending more on producing its own content since cash spend is increasing at a faster rate than amortization.</p><p><blockquote>您会注意到摊销列旁边的现金支出列。现金支出记录在现金流量表中，代表Netflix为制作自己的内容而预先花费的资金。重要的是，两栏之间的差异反映出该公司在制作自己的内容上花费更多，因为现金支出的增长速度快于摊销。</blockquote></p><p> For 2020, content amortization reached $10.8bn and cash spend reduced to $12.5bn, but it was still higher than the amortization expense.</p><p><blockquote>2020年，内容摊销达到108亿美元，现金支出减少至125亿美元，但仍高于摊销费用。</blockquote></p><p> This transition of increasing spend on original content then shows up in the company’s content assets split too.</p><p><blockquote>这种增加原创内容支出的转变也体现在公司的内容资产分割中。</blockquote></p><p> In 2016, the company had $11bn worth of content assets, which was split between 86% licensed content, and 14% original content. However, by 2020, content assets reached $25bn and the split was now 54% licensed to 46% original. This shift is helping the company become less at risk of studios pulling their content, because it has more of its own to showcase.</p><p><blockquote>2016年，该公司拥有价值110亿美元的内容资产，其中86%为授权内容，14%为原创内容。然而，到2020年，内容资产达到250亿美元，现在54%是授权的，46%是原创的。这种转变有助于该公司降低工作室撤回其内容的风险，因为它有更多自己的内容可以展示。</blockquote></p><p> Releasing and owning unique titles such as Stranger Things, House of Cards, The Crown, The Witcher, or The Queen’s Gambit are crucial for Netflix to maintain its lead. It gives their existing users all the more reason to keep their subscriptions as new titles like these are released, and it gives prospective users all the more reason to sign up if they want to view these exclusives.</p><p><blockquote>发行和拥有独特的游戏，如《奇异事物》、《纸牌屋》、《王冠》、《巫师》或《女王的策略》，对于网飞保持领先地位至关重要。随着像这样的新游戏的发布，它给了他们现有的用户更多的理由保持他们的订阅，它给了潜在用户更多的理由注册，如果他们想查看这些独家新闻。</blockquote></p><p> This transition to original content is helping the company build its own moat by becoming less reliant on external providers. As Netflix becomes both the producer and distributor of a larger portion of its content library, this creates a lot of operating leverage and thus helps the company’s bottom line.</p><p><blockquote>这种向原创内容的过渡正在帮助该公司通过减少对外部提供商的依赖来建立自己的护城河。随着Netflix成为其大部分内容库的生产商和分销商，这创造了大量的运营杠杆，从而有助于公司的利润。</blockquote></p><p> <h2><b>How this impacts the economics</b></h2> The positive financial impact of reaching a huge operating scale in a business like Netflix cannot be understated. Additionally, the expansion of originals in its content library exaggerates the positive effects that scale has on the company’s bottom line. This effect can already be seen over the last five years, and analysts expect this to continue over the next five.</p><p><blockquote><h2><b>这对经济有何影响</b></h2>在像网飞这样的企业中达到巨大的运营规模所带来的积极财务影响不可低估。此外，其内容库中原创作品的扩展夸大了规模对公司利润的积极影响。这种影响在过去五年中已经可以看到，分析师预计这种影响将在未来五年持续下去。</blockquote></p><p> In 2016, net profit margins were only 2.1% but reached 11% in 2020. This is thanks to the 120% increase in paying subscribers (to 204m) and the aforementioned increase in fixed cost original content. Looking forward, analysts expect further growth in revenue and earnings thanks to more subscriber growth and an increase in original content as a percentage of total titles. By 2025, the company is expected to double revenue to $51bn and increase earnings more than 4-fold to $12bn, which would result in further net margin expansion to 23.5%.</p><p><blockquote>2016年，净利润率仅为2.1%，但2020年达到11%。这要归功于付费用户增长120%（达到2.04亿）以及上述固定成本原创内容的增长。展望未来，分析师预计，由于订户数量的增加以及原创内容占总标题百分比的增加，收入和盈利将进一步增长。到2025年，该公司预计收入将翻一番，达到510亿美元，盈利将增长4倍以上，达到120亿美元，这将导致净利润率进一步扩大至23.5%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/90dda28b7a97c864def67fed7695916e\" tg-width=\"1702\" tg-height=\"1186\"><span>Source: Earnings and Revenue Growth Forecasts - NASDAQ:NFLX - Simply Wall St</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：盈利和收入增长预测-纳斯达克：NFLX-Simply Wall ST</span></p></blockquote></p><p> It should be noted that while Netflix will need to continue creating its own content to remain relevant and satisfy user demand, its scale is now at a stage where this is affordable.</p><p><blockquote>应该指出的是，虽然Netflix将需要继续创建自己的内容以保持相关性并满足用户需求，但其规模现在处于可承受的阶段。</blockquote></p><p> Additionally, with this leading scale, those studios that do license their content to Netflix (because they don’t have a streaming platform of their own) will either have to start one of their own from square one and find users to make it economical, or look for a better license deal from a different streaming service (which might be difficult given Netflix is the biggest and likely able to pay them the most).</p><p><blockquote>此外，凭借这种领先的规模，那些将其内容授权给网飞的工作室（因为他们没有自己的流媒体平台）要么必须从头开始创建自己的流媒体平台，并找到用户以使其经济，要么从不同的流媒体服务中寻找更好的许可协议（这可能很困难，因为网飞是最大的，可能能够向他们支付最多的费用）。</blockquote></p><p> <h2><b>Summing it up</b></h2> Netflix’s core focus for a long time has been its subscriber growth since this is key to becoming profitable. The company’s growing investment into originals is aimed at acquiring even more users, and its vast library of titles is used to retain them. Both its scale and unique content help to solidify the company’s moat and let it generate more profit from each piece of content. Analysts expect that this trend of user growth and original content creation will continue, and as a result, growth in Netflix’s top and bottom line is expected to persist out to at least 2025.</p><p><blockquote><h2><b>总结一下</b></h2>Netflix长期以来的核心关注点一直是用户增长，因为这是盈利的关键。该公司对原创作品不断增长的投资旨在获得更多用户，其庞大的图书库被用来留住他们。其规模和独特的内容都有助于巩固公司的护城河，让其从每条内容中产生更多利润。分析师预计，这种用户增长和原创内容创作的趋势将持续下去，因此，Netflix的营收和利润增长预计将至少持续到2025年。</blockquote></p><p> While all of this growth is impressive, it did come with some strings attached. Netflix levered up and by 2020 year end it had $16bn in debt. Our company report on Netflix contains a full breakdown of the company’s financial health and its ability to fund the debt.</p><p><blockquote>虽然所有这些增长令人印象深刻，但它确实伴随着一些附加条件。Netflix提高了杠杆率，到2020年底，其债务已达160亿美元。我们关于Netflix的公司报告包含该公司财务健康状况及其为债务融资能力的完整明细。</blockquote></p><p></p>","source":"lsy1616055508394","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>Netflix’s Scale Is The Key To Its Profitability<blockquote>Netflix的规模是其盈利的关键</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\">\nNetflix’s Scale Is The Key To Its Profitability<blockquote>Netflix的规模是其盈利的关键</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Simply Wall St.</strong><span class=\"h-time small\">2021-03-18 16:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p><h3><b>• Netflix's strategy was to reach scale, then create its own content</b></h3> <h3><b>• Its library is shifting towards original content</b></h3> <h3><b>• Net margins are expanding as scale takes effect</b></h3> On-demand streaming is <a href=\"https://laohu8.com/S/AONE\">one</a> of the most competitive industries in the 21st century. <b>Netflix (</b><b><u>NASDAQ:NFLX</u></b><b>)</b> was the pioneer back in 2007 with its “Watch Now” service. Since then, many players have joined the space - and you can’t blame them, the model of on-demand streaming is more streamlined (pardon-the-pun) and scalable than traditional distribution methods. It has provided those with valuable intellectual property such as movies and TV shows a new and efficient way to monetize these assets.</p><p><blockquote><h3><b>•Netflix的战略是达到规模，然后创建自己的内容</b></h3><h3><b>•其图书馆正在向原创内容转变</b></h3><h3><b>•随着规模的发挥，净利润率正在扩大</b></h3>点播流媒体是<a href=\"https://laohu8.com/S/AONE\">一</a>21世纪最具竞争力的行业之一。<b>Netflix</b><b><u>纳斯达克：NFLX</u></b><b>)</b>是2007年推出“立即观看”服务的先驱。从那以后，许多玩家加入了这个领域——你不能责怪他们，点播流媒体的模式比传统的分发方式更加精简（原谅双关语）和可扩展。它为那些拥有电影和电视节目等有价值的知识产权的人提供了一种新的有效方式来将这些资产货币化。</blockquote></p><p> Some expect the on-demand streaming industry to reach 2 billion users by 2025, which would be a 65% increase from 2020 figures.</p><p><blockquote>一些人预计，到2025年，点播流媒体行业的用户将达到20亿，比2020年的数字增长65%。</blockquote></p><p> Being the first mover 14 years ago has allowed Netflix to get a headstart in acquiring users and building its market-leading user base of 204m. However, this lead will not be easy to maintain. In this piece, we want to cover Netflix’s strategies to get where it is today, how it could maintain its lead and what that will do to the business’ economics.</p><p><blockquote>作为14年前的先行者，Netflix在获取用户和建立2.04亿市场领先的用户群方面取得了领先地位。然而，这种领先优势并不容易保持。在这篇文章中，我们希望介绍Netflix实现今天的战略、如何保持领先地位以及这将对企业的经济效益产生什么影响。</blockquote></p><p> <h2><b>Netflix’s strategy</b></h2> Netflix is a streaming service for content. Its strategy was simple: grow its subscriber base to reach scale quickly by distributing quality content through a great user experience. Then, once it reaches scale, create its own content to become less reliant on external studios and allow itself to generate higher margins through fixed production costs rather than variable licensing fees.</p><p><blockquote><h2><b>奈飞的策略</b></h2>网飞是一个内容流媒体服务。它的策略很简单：通过出色的用户体验分发高质量的内容，扩大用户群以快速达到规模。然后，一旦它达到规模，创建自己的内容，减少对外部工作室的依赖，并允许自己通过固定的制作成本而不是可变的许可费产生更高的利润。</blockquote></p><p> In the early days, this content was all licensed from other studios that actually owned the rights. Netflix paid them licensing fees and, before the company had scale, it was at the mercy of these content providers. Until Netflix was to reach scale (a large enough paying user base), this model typically benefitted the content owners more than the content distributors.</p><p><blockquote>在早期，这些内容都是从其他实际拥有版权的工作室那里获得许可的。Netflix向他们支付了许可费，在公司形成规模之前，它受到了这些内容提供商的摆布。在Netflix达到规模（足够大的付费用户群）之前，这种模式通常比内容分销商更有利于内容所有者。</blockquote></p><p> That’s why in 2013, when the company reached 34m paying subscribers, it began to generate its own content. One of its first productions was the hugely successful and award-winning <i>House of Cards</i>. As the company has continued to grow its user base, it has continued to create its own content in house. By February 2021, when Netflix surpassed 204m paying subscribers, the company reportedly had around 1,500 Netflix original titles, which was roughly 10% of its total international library of 15,000 titles.</p><p><blockquote>这就是为什么在2013年，当该公司的付费用户达到3400万时，它开始生成自己的内容。它的第一部作品之一获得了巨大的成功并获奖<i>纸牌屋</i>随着该公司用户群的不断增长，它继续在内部创建自己的内容。据报道，到2021年2月，当Netflix的付费用户超过2.04亿时，该公司拥有约1,500部Netflix原创图书，约占其国际图书馆15,000部图书总数的10%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea2c3b3b37fcfc1064cfda24c06d0284\" tg-width=\"1122\" tg-height=\"1006\"><span>Source: Netflix</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：Netflix</span></p></blockquote></p><p> Since Netflix has now reached scale and established a market leading position, it needs to continue doubling down on the second part of its strategy to maintain that lead, which is: make more of its own content.</p><p><blockquote>由于Netflix现在已经达到规模并建立了市场领先地位，它需要继续加倍努力实现其战略的第二部分以保持领先地位，即：制作更多自己的内容。</blockquote></p><p> <h2><b>Maintaining its lead</b></h2> It’s <a href=\"https://laohu8.com/S/AONE.U\">one</a> thing to generate a lead, but it’s another to maintain it. Since there’s plenty of streaming options out there such as Disney+, Amazon Prime, Youtube Premium, and users are spoilt for choice. However, while these consumers have a vast array of content at their fingertips, not all of it is “great” content and they only have so much spare time to consume it. That’s why Netflix’s goal is for consumers to “choose Netflix in their moments of free time”. To do this, Netflix knows it needs to provide unique content that is more appealing than others, and deliver it through a seamless user experience.</p><p><blockquote><h2><b>保持领先地位</b></h2>这是<a href=\"https://laohu8.com/S/AONE.U\">一</a>产生销售线索是一回事，但保持销售线索是另一回事。因为有很多流媒体选项，如Disney+、Amazon Prime、Youtube Premium，用户的选择太多了。然而，虽然这些消费者手边有大量的内容，但并不是所有的内容都是“伟大的”内容，他们只有这么多的空闲时间来消费这些内容。这就是为什么Netflix的目标是让消费者“在空闲时间选择Netflix”。要做到这一点，Netflix知道它需要提供比其他内容更有吸引力的独特内容，并通过无缝的用户体验来交付。</blockquote></p><p> Since the company seems to have the user experience mostly in order, a lot of its focus has been on growing the amount of unique content it serves, especially its originals. And we can see Netflix’s shift in spending in the company's cost of revenue expense and the company’s content assets.</p><p><blockquote>由于该公司的用户体验似乎基本正常，因此它的大部分重点都放在增加其提供的独特内容的数量上，尤其是原创内容。我们可以看到Netflix在公司收入支出成本和公司内容资产方面的支出转变。</blockquote></p><p> Netflix’s cost of revenue is its primary expense and was $15.2bn for 2020 (61% of revenue). Two thirds of this ($10.8bn) is made up of the amortization of its content assets.</p><p><blockquote>Netflix的收入成本是其主要支出，2020年为152亿美元（占收入的61%）。其中三分之二（108亿美元）由其内容资产的摊销组成。</blockquote></p><p> Amortization is a method for writing off the cost of the content over its useful life, rather than incurring the cost up front. On average, over 90% of Netflix’s licensed or produced content is amortized over 4 years. So for example, on average, a $100m license fee for a TV show might be amortized at $25m per year over 4 years instead of all at once.</p><p><blockquote>摊销是一种在内容的使用寿命内冲销其成本的方法，而不是预先产生成本。平均而言，超过90%的网飞许可或制作内容在4年内摊销。例如，平均而言，一个电视节目1亿美元的许可费可能会在4年内以每年2500万美元的速度摊销，而不是一次全部摊销。</blockquote></p><p> The chart below shows just how much amortization of content has occurred leading up to 2019 as well as cash spend on content.</p><p><blockquote>下图显示了截至2019年的内容摊销金额以及内容上的现金支出。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf9c9277c0f8a9fba4bf1fb9d9b5e3c5\" tg-width=\"1508\" tg-height=\"818\"><span>Source: Next Level Finance</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：下一级财经</span></p></blockquote></p><p></p><p> You’ll notice the cash spend column beside the amortization column. Cash spend is recorded in the statement of cash flows and represents the money Netflix spends upfront to produce its own content. Importantly, this disparity between the two columns reflects that the company is spending more on producing its own content since cash spend is increasing at a faster rate than amortization.</p><p><blockquote>您会注意到摊销列旁边的现金支出列。现金支出记录在现金流量表中，代表Netflix为制作自己的内容而预先花费的资金。重要的是，两栏之间的差异反映出该公司在制作自己的内容上花费更多，因为现金支出的增长速度快于摊销。</blockquote></p><p> For 2020, content amortization reached $10.8bn and cash spend reduced to $12.5bn, but it was still higher than the amortization expense.</p><p><blockquote>2020年，内容摊销达到108亿美元，现金支出减少至125亿美元，但仍高于摊销费用。</blockquote></p><p> This transition of increasing spend on original content then shows up in the company’s content assets split too.</p><p><blockquote>这种增加原创内容支出的转变也体现在公司的内容资产分割中。</blockquote></p><p> In 2016, the company had $11bn worth of content assets, which was split between 86% licensed content, and 14% original content. However, by 2020, content assets reached $25bn and the split was now 54% licensed to 46% original. This shift is helping the company become less at risk of studios pulling their content, because it has more of its own to showcase.</p><p><blockquote>2016年，该公司拥有价值110亿美元的内容资产，其中86%为授权内容，14%为原创内容。然而，到2020年，内容资产达到250亿美元，现在54%是授权的，46%是原创的。这种转变有助于该公司降低工作室撤回其内容的风险，因为它有更多自己的内容可以展示。</blockquote></p><p> Releasing and owning unique titles such as Stranger Things, House of Cards, The Crown, The Witcher, or The Queen’s Gambit are crucial for Netflix to maintain its lead. It gives their existing users all the more reason to keep their subscriptions as new titles like these are released, and it gives prospective users all the more reason to sign up if they want to view these exclusives.</p><p><blockquote>发行和拥有独特的游戏，如《奇异事物》、《纸牌屋》、《王冠》、《巫师》或《女王的策略》，对于网飞保持领先地位至关重要。随着像这样的新游戏的发布，它给了他们现有的用户更多的理由保持他们的订阅，它给了潜在用户更多的理由注册，如果他们想查看这些独家新闻。</blockquote></p><p> This transition to original content is helping the company build its own moat by becoming less reliant on external providers. As Netflix becomes both the producer and distributor of a larger portion of its content library, this creates a lot of operating leverage and thus helps the company’s bottom line.</p><p><blockquote>这种向原创内容的过渡正在帮助该公司通过减少对外部提供商的依赖来建立自己的护城河。随着Netflix成为其大部分内容库的生产商和分销商，这创造了大量的运营杠杆，从而有助于公司的利润。</blockquote></p><p> <h2><b>How this impacts the economics</b></h2> The positive financial impact of reaching a huge operating scale in a business like Netflix cannot be understated. Additionally, the expansion of originals in its content library exaggerates the positive effects that scale has on the company’s bottom line. This effect can already be seen over the last five years, and analysts expect this to continue over the next five.</p><p><blockquote><h2><b>这对经济有何影响</b></h2>在像网飞这样的企业中达到巨大的运营规模所带来的积极财务影响不可低估。此外，其内容库中原创作品的扩展夸大了规模对公司利润的积极影响。这种影响在过去五年中已经可以看到，分析师预计这种影响将在未来五年持续下去。</blockquote></p><p> In 2016, net profit margins were only 2.1% but reached 11% in 2020. This is thanks to the 120% increase in paying subscribers (to 204m) and the aforementioned increase in fixed cost original content. Looking forward, analysts expect further growth in revenue and earnings thanks to more subscriber growth and an increase in original content as a percentage of total titles. By 2025, the company is expected to double revenue to $51bn and increase earnings more than 4-fold to $12bn, which would result in further net margin expansion to 23.5%.</p><p><blockquote>2016年，净利润率仅为2.1%，但2020年达到11%。这要归功于付费用户增长120%（达到2.04亿）以及上述固定成本原创内容的增长。展望未来，分析师预计，由于订户数量的增加以及原创内容占总标题百分比的增加，收入和盈利将进一步增长。到2025年，该公司预计收入将翻一番，达到510亿美元，盈利将增长4倍以上，达到120亿美元，这将导致净利润率进一步扩大至23.5%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/90dda28b7a97c864def67fed7695916e\" tg-width=\"1702\" tg-height=\"1186\"><span>Source: Earnings and Revenue Growth Forecasts - NASDAQ:NFLX - Simply Wall St</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：盈利和收入增长预测-纳斯达克：NFLX-Simply Wall ST</span></p></blockquote></p><p> It should be noted that while Netflix will need to continue creating its own content to remain relevant and satisfy user demand, its scale is now at a stage where this is affordable.</p><p><blockquote>应该指出的是，虽然Netflix将需要继续创建自己的内容以保持相关性并满足用户需求，但其规模现在处于可承受的阶段。</blockquote></p><p> Additionally, with this leading scale, those studios that do license their content to Netflix (because they don’t have a streaming platform of their own) will either have to start one of their own from square one and find users to make it economical, or look for a better license deal from a different streaming service (which might be difficult given Netflix is the biggest and likely able to pay them the most).</p><p><blockquote>此外，凭借这种领先的规模，那些将其内容授权给网飞的工作室（因为他们没有自己的流媒体平台）要么必须从头开始创建自己的流媒体平台，并找到用户以使其经济，要么从不同的流媒体服务中寻找更好的许可协议（这可能很困难，因为网飞是最大的，可能能够向他们支付最多的费用）。</blockquote></p><p> <h2><b>Summing it up</b></h2> Netflix’s core focus for a long time has been its subscriber growth since this is key to becoming profitable. The company’s growing investment into originals is aimed at acquiring even more users, and its vast library of titles is used to retain them. Both its scale and unique content help to solidify the company’s moat and let it generate more profit from each piece of content. Analysts expect that this trend of user growth and original content creation will continue, and as a result, growth in Netflix’s top and bottom line is expected to persist out to at least 2025.</p><p><blockquote><h2><b>总结一下</b></h2>Netflix长期以来的核心关注点一直是用户增长，因为这是盈利的关键。该公司对原创作品不断增长的投资旨在获得更多用户，其庞大的图书库被用来留住他们。其规模和独特的内容都有助于巩固公司的护城河，让其从每条内容中产生更多利润。分析师预计，这种用户增长和原创内容创作的趋势将持续下去，因此，Netflix的营收和利润增长预计将至少持续到2025年。</blockquote></p><p> While all of this growth is impressive, it did come with some strings attached. Netflix levered up and by 2020 year end it had $16bn in debt. Our company report on Netflix contains a full breakdown of the company’s financial health and its ability to fund the debt.</p><p><blockquote>虽然所有这些增长令人印象深刻，但它确实伴随着一些附加条件。Netflix提高了杠杆率，到2020年底，其债务已达160亿美元。我们关于Netflix的公司报告包含该公司财务健康状况及其为债务融资能力的完整明细。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://simplywall.st/stocks/us/media/nasdaq-nflx/netflix/news/netflixs-nasdaqnflx-scale-is-the-key-to-its-profitability\">Simply Wall St.</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":{"NFLX":"奈飞"},"source_url":"https://simplywall.st/stocks/us/media/nasdaq-nflx/netflix/news/netflixs-nasdaqnflx-scale-is-the-key-to-its-profitability","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2120580281","content_text":"• Netflix's strategy was to reach scale, then create its own content\n• Its library is shifting towards original content\n• Net margins are expanding as scale takes effect\nOn-demand streaming is one of the most competitive industries in the 21st century. Netflix (NASDAQ:NFLX) was the pioneer back in 2007 with its “Watch Now” service. Since then, many players have joined the space - and you can’t blame them, the model of on-demand streaming is more streamlined (pardon-the-pun) and scalable than traditional distribution methods. It has provided those with valuable intellectual property such as movies and TV shows a new and efficient way to monetize these assets.\nSome expect the on-demand streaming industry to reach 2 billion users by 2025, which would be a 65% increase from 2020 figures.\nBeing the first mover 14 years ago has allowed Netflix to get a headstart in acquiring users and building its market-leading user base of 204m. However, this lead will not be easy to maintain. In this piece, we want to cover Netflix’s strategies to get where it is today, how it could maintain its lead and what that will do to the business’ economics.\nNetflix’s strategy\nNetflix is a streaming service for content. Its strategy was simple: grow its subscriber base to reach scale quickly by distributing quality content through a great user experience. Then, once it reaches scale, create its own content to become less reliant on external studios and allow itself to generate higher margins through fixed production costs rather than variable licensing fees.\nIn the early days, this content was all licensed from other studios that actually owned the rights. Netflix paid them licensing fees and, before the company had scale, it was at the mercy of these content providers. Until Netflix was to reach scale (a large enough paying user base), this model typically benefitted the content owners more than the content distributors.\nThat’s why in 2013, when the company reached 34m paying subscribers, it began to generate its own content. One of its first productions was the hugely successful and award-winning House of Cards. As the company has continued to grow its user base, it has continued to create its own content in house. By February 2021, when Netflix surpassed 204m paying subscribers, the company reportedly had around 1,500 Netflix original titles, which was roughly 10% of its total international library of 15,000 titles.\nSource: Netflix\nSince Netflix has now reached scale and established a market leading position, it needs to continue doubling down on the second part of its strategy to maintain that lead, which is: make more of its own content.\nMaintaining its lead\nIt’s one thing to generate a lead, but it’s another to maintain it. Since there’s plenty of streaming options out there such as Disney+, Amazon Prime, Youtube Premium, and users are spoilt for choice. However, while these consumers have a vast array of content at their fingertips, not all of it is “great” content and they only have so much spare time to consume it. That’s why Netflix’s goal is for consumers to “choose Netflix in their moments of free time”. To do this, Netflix knows it needs to provide unique content that is more appealing than others, and deliver it through a seamless user experience.\nSince the company seems to have the user experience mostly in order, a lot of its focus has been on growing the amount of unique content it serves, especially its originals. And we can see Netflix’s shift in spending in the company's cost of revenue expense and the company’s content assets.\nNetflix’s cost of revenue is its primary expense and was $15.2bn for 2020 (61% of revenue). Two thirds of this ($10.8bn) is made up of the amortization of its content assets.\nAmortization is a method for writing off the cost of the content over its useful life, rather than incurring the cost up front. On average, over 90% of Netflix’s licensed or produced content is amortized over 4 years. So for example, on average, a $100m license fee for a TV show might be amortized at $25m per year over 4 years instead of all at once.\nThe chart below shows just how much amortization of content has occurred leading up to 2019 as well as cash spend on content.\nSource: Next Level Finance\nYou’ll notice the cash spend column beside the amortization column. Cash spend is recorded in the statement of cash flows and represents the money Netflix spends upfront to produce its own content. Importantly, this disparity between the two columns reflects that the company is spending more on producing its own content since cash spend is increasing at a faster rate than amortization.\nFor 2020, content amortization reached $10.8bn and cash spend reduced to $12.5bn, but it was still higher than the amortization expense.\nThis transition of increasing spend on original content then shows up in the company’s content assets split too.\nIn 2016, the company had $11bn worth of content assets, which was split between 86% licensed content, and 14% original content. However, by 2020, content assets reached $25bn and the split was now 54% licensed to 46% original. This shift is helping the company become less at risk of studios pulling their content, because it has more of its own to showcase.\nReleasing and owning unique titles such as Stranger Things, House of Cards, The Crown, The Witcher, or The Queen’s Gambit are crucial for Netflix to maintain its lead. It gives their existing users all the more reason to keep their subscriptions as new titles like these are released, and it gives prospective users all the more reason to sign up if they want to view these exclusives.\nThis transition to original content is helping the company build its own moat by becoming less reliant on external providers. As Netflix becomes both the producer and distributor of a larger portion of its content library, this creates a lot of operating leverage and thus helps the company’s bottom line.\nHow this impacts the economics\nThe positive financial impact of reaching a huge operating scale in a business like Netflix cannot be understated. Additionally, the expansion of originals in its content library exaggerates the positive effects that scale has on the company’s bottom line. This effect can already be seen over the last five years, and analysts expect this to continue over the next five.\nIn 2016, net profit margins were only 2.1% but reached 11% in 2020. This is thanks to the 120% increase in paying subscribers (to 204m) and the aforementioned increase in fixed cost original content. Looking forward, analysts expect further growth in revenue and earnings thanks to more subscriber growth and an increase in original content as a percentage of total titles. By 2025, the company is expected to double revenue to $51bn and increase earnings more than 4-fold to $12bn, which would result in further net margin expansion to 23.5%.\nSource: Earnings and Revenue Growth Forecasts - NASDAQ:NFLX - Simply Wall St\nIt should be noted that while Netflix will need to continue creating its own content to remain relevant and satisfy user demand, its scale is now at a stage where this is affordable.\nAdditionally, with this leading scale, those studios that do license their content to Netflix (because they don’t have a streaming platform of their own) will either have to start one of their own from square one and find users to make it economical, or look for a better license deal from a different streaming service (which might be difficult given Netflix is the biggest and likely able to pay them the most).\nSumming it up\nNetflix’s core focus for a long time has been its subscriber growth since this is key to becoming profitable. The company’s growing investment into originals is aimed at acquiring even more users, and its vast library of titles is used to retain them. Both its scale and unique content help to solidify the company’s moat and let it generate more profit from each piece of content. Analysts expect that this trend of user growth and original content creation will continue, and as a result, growth in Netflix’s top and bottom line is expected to persist out to at least 2025.\nWhile all of this growth is impressive, it did come with some strings attached. Netflix levered up and by 2020 year end it had $16bn in debt. Our company report on Netflix contains a full breakdown of the company’s financial health and its ability to fund the debt.","news_type":1,"symbols_score_info":{"NFLX":0.9}},"isVote":1,"tweetType":1,"viewCount":2791,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350975685,"gmtCreate":1616156223347,"gmtModify":1634526966854,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"go go pot company&nbsp;","listText":"go go pot company&nbsp;","text":"go go pot company","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350975685","repostId":"1138846673","repostType":4,"repost":{"id":"1138846673","kind":"news","pubTimestamp":1616152403,"share":"https://www.laohu8.com/m/news/1138846673?lang=zh_CN&edition=full","pubTime":"2021-03-19 19:13","market":"us","language":"en","title":"Better Pot Stock: Sundial Growers or Tilray?<blockquote>更好的大麻股票：Sundial Growers还是Tilray？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1138846673","media":"Motley Fool","summary":"Here's how these two hot marijuana stocks compare.No cannabis stocks have attracted more attention i","content":"<p>Here's how these two hot marijuana stocks compare.No cannabis stocks have attracted more attention in 2021 so far than<b>Sundial Growers</b>(NASDAQ:SNDL)and<b>Tilray</b>(NASDAQ:TLRY). That attention has been overwhelmingly positive, considering that the share prices for both companies have almost tripled year to date.</p><p><blockquote>以下是这两只热门大麻股票的比较。到目前为止，2021年没有哪只大麻股票比<b>日晷种植者</b>（纳斯达克：SNDL）及<b>蒂尔雷</b>（纳斯达克：TLRY）。考虑到今年迄今为止两家公司的股价几乎上涨了两倍，这种关注绝大多数是积极的。</blockquote></p><p>However, the excitement of being in the limelight can fade quickly. Which of these two pot stocks is the better pick going forward? Here's how Sundial and Tilray stack up against each other.</p><p><blockquote>然而，出风头的兴奋感会很快消退。这两只大麻股中哪一只是未来更好的选择？以下是Sundial和Tilray的对比。</blockquote></p><p><b>Growth</b></p><p><blockquote><b>增长</b></blockquote></p><p>Tilray's revenuejumped 20.5% year over year in the fourth quarterto $56.6 million. The company's international medical cannabis sales skyrocketed 191%, while its Canadian adult-use recreational marijuana sales soared 49%. The only fly in the ointment for Tilray was its hemp segment, which experienced an 18% revenue decline.</p><p><blockquote>Tilray第四季度收入同比增长20.5%至5660万美元。该公司的国际医用大麻销售额猛增191%，而加拿大成人休闲大麻销售额猛增49%。Tilray唯一美中不足的是其大麻部门，收入下降了18%。</blockquote></p><p>Sundial announced its Q4 results on Wednesday, and its story wasn't nearly as good as Tilray's. The company reported net cannabis revenue of 13.9 million in Canadian dollars. While this reflected an 8% increase from the prior quarter, Sundial's revenue was down more than 5% year over year.</p><p><blockquote>Sundial周三公布了第四季度业绩，其业绩远不如Tilray。该公司报告大麻净收入为1390万加元。虽然这比上一季度增长了8%，但Sundial的收入同比下降了5%以上。</blockquote></p><p>Both Sundial and Tilray have opportunities to grow in the Canadian market, especially as the country's Cannabis 2.0 derivatives market continues to pick up momentum. However, Tilray definitely will have an advantage.</p><p><blockquote>Sundial和Tilray都有机会在加拿大市场发展，特别是随着该国大麻2.0衍生品市场继续增长。然而，Tilray肯定会有优势。</blockquote></p><p>Tilray's merger with<b>Aphria</b>(NASDAQ:APHA)is expected to close in the second quarter of 2021. The combined company will rank as the biggest global cannabis producer based on revenue. It will also claim the leading market share in the Canadian retail marijuana market.</p><p><blockquote>Tilray与<b>Aphria</b>（纳斯达克：APHA）预计将于2021年第二季度关闭。按收入计算，合并后的公司将成为全球最大的大麻生产商。它还将占据加拿大零售大麻市场的领先市场份额。</blockquote></p><p>The \"new\" Tilray will also be a top player in European medical cannabis markets because Aphria owns a major German cannabis wholesaler. Tilray also operates a large cannabis production facility in Portugal. Sundial doesn't have a presence in Europe at this point.</p><p><blockquote>“新”Tilray也将成为欧洲医用大麻市场的顶级参与者，因为Aphria拥有一家主要的德国大麻批发商。Tilray还在葡萄牙经营一家大型大麻生产设施。Sundial目前在欧洲还没有业务。</blockquote></p><p>Tilray and Aphria also have businesses in the U.S., while Sundial doesn't. Aphria acquired craft-beer maker Sweetwater Brewing, and Tilray owns leading hemp foods manufacturer Manitoba Harvest. The combined company thinks that these operations will give it a great launching pad should federal cannabis reform open the door to jump into the lucrative U.S. cannabis market.</p><p><blockquote>Tilray和Aphria在美国也有业务，而Sundial没有。Aphria收购了精酿啤酒制造商Sweetwater Brewing，Tilray拥有领先的大麻食品制造商Manitoba Harvest。合并后的公司认为，如果联邦大麻改革打开进入利润丰厚的美国大麻市场的大门，这些业务将为其提供一个很好的发射台。</blockquote></p><p><b>Financial position</b></p><p><blockquote><b>财务状况</b></blockquote></p><p>Sundial posted a net loss of CA$64.1 million in the fourth quarter. The company generated an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of CA$5.6 million and had CA$710 million in unrestricted cash as of March 15, 2021.</p><p><blockquote>Sundial第四季度净亏损6410万加元。截至2021年3月15日，该公司调整后的息税折旧摊销前利润(EBITDA)亏损为560万加元，无限制现金为7.1亿加元。</blockquote></p><p>Tilray is in a much stronger financial position even before the Aphria merger. While the company recorded a Q4 net loss of $3 million, it was a huge improvement from the net loss of $219.8 million in the prior-year period. Tilray also generated positive adjusted EBITDA of $2.2 million and had $189.7 million in cash as of the end of 2020.</p><p><blockquote>即使在Aphria合并之前，Tilray的财务状况也要强劲得多。虽然该公司第四季度净亏损为300万美元，但较去年同期2.198亿美元的净亏损有了巨大改善。截至2020年底，Tilray还产生了220万美元的正调整后EBITDA，并拥有1.897亿美元的现金。</blockquote></p><p>The financial situation for Tilray should improve once the Aphria merger closes. Aphria has delivered seven consecutive quarters of increasing adjusted EBITDA profitability. The combined entity expects to realize significant synergies within the two years following the finalization of the transaction.</p><p><blockquote>一旦Aphria合并完成，Tilray的财务状况应该会有所改善。Aphria已连续七个季度实现调整后EBITDA盈利能力增长。合并后的实体预计将在交易完成后的两年内实现显着的协同效应。</blockquote></p><p><b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p>Tilray's market cap currently stands at around $4.5 billion, while Sundial's is close to $2.4 billion. But is Tilray actually worth nearly twice as much as Sundial?</p><p><blockquote>Tilray的市值目前约为45亿美元，而Sundial的市值接近24亿美元。但Tilray的价值实际上是Sundial的近两倍吗？</blockquote></p><p>We can't use earnings-based valuation metrics to compare the two stocks. However, Sundial and Tilray appear to be close using price-to-sales (P/S) ratios. Sundial currently trades at around 24 times trailing-12-month sales, while Tilray trades at a P/S multiple of nearly 23.</p><p><blockquote>我们不能使用基于收益的估值指标来比较这两只股票。然而，从市销率(P/S)来看，Sundial和Tilray似乎很接近。Sundial目前的市盈率约为过去12个月销售额的24倍，而Tilray的市盈率接近23倍。</blockquote></p><p>However, it's important to remember that Tilray's sales continue to rise year over year while Sundial's are still declining year over year. This makes Tilray's valuation more attractive compared to Sundial.</p><p><blockquote>然而，重要的是要记住，Tilray的销售额继续逐年增长，而Sundial的销售额仍在逐年下降。这使得Tilray的估值与Sundial相比更具吸引力。</blockquote></p><p><b>Better pot stock?</b></p><p><blockquote><b>更好的锅汤？</b></blockquote></p><p>This decision isn't difficult. Tilray is growing faster than Sundial and seems to have stronger growth prospects going forward with the Aphria merger on the way. It claims a stronger financial position than Sundial and, to top things off, Tilray's valuation is slightly more attractive right now. On all counts, Tilray appears to be the better pot stock than Sundial.</p><p><blockquote>这个决定并不难。Tilray的增长速度比Sundial更快，并且随着Aphria合并的进行，似乎具有更强劲的增长前景。它声称比Sundial拥有更强大的财务状况，最重要的是，Tilray的估值目前略有吸引力。从各方面来看，Tilray似乎比Sundial更好。</blockquote></p><p>However, I don't think that either of these stocks is a great choice for investors. There are several other stocks that are in a better position to profit from the U.S. cannabis market growth that are more attractively valued than either Sundial Growers or Tilray.</p><p><blockquote>然而，我认为这两只股票对于投资者来说都不是一个很好的选择。还有其他几只股票能够更好地从美国大麻市场的增长中获利，它们的估值比Sundial Growers或Tilray更具吸引力。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Better Pot Stock: Sundial Growers or Tilray?<blockquote>更好的大麻股票：Sundial Growers还是Tilray？</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\">\nBetter Pot Stock: Sundial Growers or Tilray?<blockquote>更好的大麻股票：Sundial Growers还是Tilray？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-19 19:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Here's how these two hot marijuana stocks compare.No cannabis stocks have attracted more attention in 2021 so far than<b>Sundial Growers</b>(NASDAQ:SNDL)and<b>Tilray</b>(NASDAQ:TLRY). That attention has been overwhelmingly positive, considering that the share prices for both companies have almost tripled year to date.</p><p><blockquote>以下是这两只热门大麻股票的比较。到目前为止，2021年没有哪只大麻股票比<b>日晷种植者</b>（纳斯达克：SNDL）及<b>蒂尔雷</b>（纳斯达克：TLRY）。考虑到今年迄今为止两家公司的股价几乎上涨了两倍，这种关注绝大多数是积极的。</blockquote></p><p>However, the excitement of being in the limelight can fade quickly. Which of these two pot stocks is the better pick going forward? Here's how Sundial and Tilray stack up against each other.</p><p><blockquote>然而，出风头的兴奋感会很快消退。这两只大麻股中哪一只是未来更好的选择？以下是Sundial和Tilray的对比。</blockquote></p><p><b>Growth</b></p><p><blockquote><b>增长</b></blockquote></p><p>Tilray's revenuejumped 20.5% year over year in the fourth quarterto $56.6 million. The company's international medical cannabis sales skyrocketed 191%, while its Canadian adult-use recreational marijuana sales soared 49%. The only fly in the ointment for Tilray was its hemp segment, which experienced an 18% revenue decline.</p><p><blockquote>Tilray第四季度收入同比增长20.5%至5660万美元。该公司的国际医用大麻销售额猛增191%，而加拿大成人休闲大麻销售额猛增49%。Tilray唯一美中不足的是其大麻部门，收入下降了18%。</blockquote></p><p>Sundial announced its Q4 results on Wednesday, and its story wasn't nearly as good as Tilray's. The company reported net cannabis revenue of 13.9 million in Canadian dollars. While this reflected an 8% increase from the prior quarter, Sundial's revenue was down more than 5% year over year.</p><p><blockquote>Sundial周三公布了第四季度业绩，其业绩远不如Tilray。该公司报告大麻净收入为1390万加元。虽然这比上一季度增长了8%，但Sundial的收入同比下降了5%以上。</blockquote></p><p>Both Sundial and Tilray have opportunities to grow in the Canadian market, especially as the country's Cannabis 2.0 derivatives market continues to pick up momentum. However, Tilray definitely will have an advantage.</p><p><blockquote>Sundial和Tilray都有机会在加拿大市场发展，特别是随着该国大麻2.0衍生品市场继续增长。然而，Tilray肯定会有优势。</blockquote></p><p>Tilray's merger with<b>Aphria</b>(NASDAQ:APHA)is expected to close in the second quarter of 2021. The combined company will rank as the biggest global cannabis producer based on revenue. It will also claim the leading market share in the Canadian retail marijuana market.</p><p><blockquote>Tilray与<b>Aphria</b>（纳斯达克：APHA）预计将于2021年第二季度关闭。按收入计算，合并后的公司将成为全球最大的大麻生产商。它还将占据加拿大零售大麻市场的领先市场份额。</blockquote></p><p>The \"new\" Tilray will also be a top player in European medical cannabis markets because Aphria owns a major German cannabis wholesaler. Tilray also operates a large cannabis production facility in Portugal. Sundial doesn't have a presence in Europe at this point.</p><p><blockquote>“新”Tilray也将成为欧洲医用大麻市场的顶级参与者，因为Aphria拥有一家主要的德国大麻批发商。Tilray还在葡萄牙经营一家大型大麻生产设施。Sundial目前在欧洲还没有业务。</blockquote></p><p>Tilray and Aphria also have businesses in the U.S., while Sundial doesn't. Aphria acquired craft-beer maker Sweetwater Brewing, and Tilray owns leading hemp foods manufacturer Manitoba Harvest. The combined company thinks that these operations will give it a great launching pad should federal cannabis reform open the door to jump into the lucrative U.S. cannabis market.</p><p><blockquote>Tilray和Aphria在美国也有业务，而Sundial没有。Aphria收购了精酿啤酒制造商Sweetwater Brewing，Tilray拥有领先的大麻食品制造商Manitoba Harvest。合并后的公司认为，如果联邦大麻改革打开进入利润丰厚的美国大麻市场的大门，这些业务将为其提供一个很好的发射台。</blockquote></p><p><b>Financial position</b></p><p><blockquote><b>财务状况</b></blockquote></p><p>Sundial posted a net loss of CA$64.1 million in the fourth quarter. The company generated an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of CA$5.6 million and had CA$710 million in unrestricted cash as of March 15, 2021.</p><p><blockquote>Sundial第四季度净亏损6410万加元。截至2021年3月15日，该公司调整后的息税折旧摊销前利润(EBITDA)亏损为560万加元，无限制现金为7.1亿加元。</blockquote></p><p>Tilray is in a much stronger financial position even before the Aphria merger. While the company recorded a Q4 net loss of $3 million, it was a huge improvement from the net loss of $219.8 million in the prior-year period. Tilray also generated positive adjusted EBITDA of $2.2 million and had $189.7 million in cash as of the end of 2020.</p><p><blockquote>即使在Aphria合并之前，Tilray的财务状况也要强劲得多。虽然该公司第四季度净亏损为300万美元，但较去年同期2.198亿美元的净亏损有了巨大改善。截至2020年底，Tilray还产生了220万美元的正调整后EBITDA，并拥有1.897亿美元的现金。</blockquote></p><p>The financial situation for Tilray should improve once the Aphria merger closes. Aphria has delivered seven consecutive quarters of increasing adjusted EBITDA profitability. The combined entity expects to realize significant synergies within the two years following the finalization of the transaction.</p><p><blockquote>一旦Aphria合并完成，Tilray的财务状况应该会有所改善。Aphria已连续七个季度实现调整后EBITDA盈利能力增长。合并后的实体预计将在交易完成后的两年内实现显着的协同效应。</blockquote></p><p><b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p>Tilray's market cap currently stands at around $4.5 billion, while Sundial's is close to $2.4 billion. But is Tilray actually worth nearly twice as much as Sundial?</p><p><blockquote>Tilray的市值目前约为45亿美元，而Sundial的市值接近24亿美元。但Tilray的价值实际上是Sundial的近两倍吗？</blockquote></p><p>We can't use earnings-based valuation metrics to compare the two stocks. However, Sundial and Tilray appear to be close using price-to-sales (P/S) ratios. Sundial currently trades at around 24 times trailing-12-month sales, while Tilray trades at a P/S multiple of nearly 23.</p><p><blockquote>我们不能使用基于收益的估值指标来比较这两只股票。然而，从市销率(P/S)来看，Sundial和Tilray似乎很接近。Sundial目前的市盈率约为过去12个月销售额的24倍，而Tilray的市盈率接近23倍。</blockquote></p><p>However, it's important to remember that Tilray's sales continue to rise year over year while Sundial's are still declining year over year. This makes Tilray's valuation more attractive compared to Sundial.</p><p><blockquote>然而，重要的是要记住，Tilray的销售额继续逐年增长，而Sundial的销售额仍在逐年下降。这使得Tilray的估值与Sundial相比更具吸引力。</blockquote></p><p><b>Better pot stock?</b></p><p><blockquote><b>更好的锅汤？</b></blockquote></p><p>This decision isn't difficult. Tilray is growing faster than Sundial and seems to have stronger growth prospects going forward with the Aphria merger on the way. It claims a stronger financial position than Sundial and, to top things off, Tilray's valuation is slightly more attractive right now. On all counts, Tilray appears to be the better pot stock than Sundial.</p><p><blockquote>这个决定并不难。Tilray的增长速度比Sundial更快，并且随着Aphria合并的进行，似乎具有更强劲的增长前景。它声称比Sundial拥有更强大的财务状况，最重要的是，Tilray的估值目前略有吸引力。从各方面来看，Tilray似乎比Sundial更好。</blockquote></p><p>However, I don't think that either of these stocks is a great choice for investors. There are several other stocks that are in a better position to profit from the U.S. cannabis market growth that are more attractively valued than either Sundial Growers or Tilray.</p><p><blockquote>然而，我认为这两只股票对于投资者来说都不是一个很好的选择。还有其他几只股票能够更好地从美国大麻市场的增长中获利，它们的估值比Sundial Growers或Tilray更具吸引力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/19/better-pot-stock-sundial-growers-or-tilray/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/03/19/better-pot-stock-sundial-growers-or-tilray/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138846673","content_text":"Here's how these two hot marijuana stocks compare.No cannabis stocks have attracted more attention in 2021 so far thanSundial Growers(NASDAQ:SNDL)andTilray(NASDAQ:TLRY). That attention has been overwhelmingly positive, considering that the share prices for both companies have almost tripled year to date.However, the excitement of being in the limelight can fade quickly. Which of these two pot stocks is the better pick going forward? Here's how Sundial and Tilray stack up against each other.GrowthTilray's revenuejumped 20.5% year over year in the fourth quarterto $56.6 million. The company's international medical cannabis sales skyrocketed 191%, while its Canadian adult-use recreational marijuana sales soared 49%. The only fly in the ointment for Tilray was its hemp segment, which experienced an 18% revenue decline.Sundial announced its Q4 results on Wednesday, and its story wasn't nearly as good as Tilray's. The company reported net cannabis revenue of 13.9 million in Canadian dollars. While this reflected an 8% increase from the prior quarter, Sundial's revenue was down more than 5% year over year.Both Sundial and Tilray have opportunities to grow in the Canadian market, especially as the country's Cannabis 2.0 derivatives market continues to pick up momentum. However, Tilray definitely will have an advantage.Tilray's merger withAphria(NASDAQ:APHA)is expected to close in the second quarter of 2021. The combined company will rank as the biggest global cannabis producer based on revenue. It will also claim the leading market share in the Canadian retail marijuana market.The \"new\" Tilray will also be a top player in European medical cannabis markets because Aphria owns a major German cannabis wholesaler. Tilray also operates a large cannabis production facility in Portugal. Sundial doesn't have a presence in Europe at this point.Tilray and Aphria also have businesses in the U.S., while Sundial doesn't. Aphria acquired craft-beer maker Sweetwater Brewing, and Tilray owns leading hemp foods manufacturer Manitoba Harvest. The combined company thinks that these operations will give it a great launching pad should federal cannabis reform open the door to jump into the lucrative U.S. cannabis market.Financial positionSundial posted a net loss of CA$64.1 million in the fourth quarter. The company generated an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of CA$5.6 million and had CA$710 million in unrestricted cash as of March 15, 2021.Tilray is in a much stronger financial position even before the Aphria merger. While the company recorded a Q4 net loss of $3 million, it was a huge improvement from the net loss of $219.8 million in the prior-year period. Tilray also generated positive adjusted EBITDA of $2.2 million and had $189.7 million in cash as of the end of 2020.The financial situation for Tilray should improve once the Aphria merger closes. Aphria has delivered seven consecutive quarters of increasing adjusted EBITDA profitability. The combined entity expects to realize significant synergies within the two years following the finalization of the transaction.ValuationTilray's market cap currently stands at around $4.5 billion, while Sundial's is close to $2.4 billion. But is Tilray actually worth nearly twice as much as Sundial?We can't use earnings-based valuation metrics to compare the two stocks. However, Sundial and Tilray appear to be close using price-to-sales (P/S) ratios. Sundial currently trades at around 24 times trailing-12-month sales, while Tilray trades at a P/S multiple of nearly 23.However, it's important to remember that Tilray's sales continue to rise year over year while Sundial's are still declining year over year. This makes Tilray's valuation more attractive compared to Sundial.Better pot stock?This decision isn't difficult. Tilray is growing faster than Sundial and seems to have stronger growth prospects going forward with the Aphria merger on the way. It claims a stronger financial position than Sundial and, to top things off, Tilray's valuation is slightly more attractive right now. On all counts, Tilray appears to be the better pot stock than Sundial.However, I don't think that either of these stocks is a great choice for investors. There are several other stocks that are in a better position to profit from the U.S. cannabis market growth that are more attractively valued than either Sundial Growers or Tilray.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350587862,"gmtCreate":1616231454756,"gmtModify":1634526635719,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"powell lol hoping for good news","listText":"powell lol hoping for good news","text":"powell lol hoping for good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350587862","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohu8.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1643,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350976922,"gmtCreate":1616156020066,"gmtModify":1634526968259,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"good good .. diamond hands !!!","listText":"good good .. diamond hands !!!","text":"good good .. diamond hands !!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350976922","repostId":"1188846193","repostType":4,"repost":{"id":"1188846193","kind":"news","pubTimestamp":1616152118,"share":"https://www.laohu8.com/m/news/1188846193?lang=zh_CN&edition=full","pubTime":"2021-03-19 19:08","market":"us","language":"en","title":"3 Unbeatable Growth Stocks to Buy If the Market Crashes<blockquote>如果市场崩盘，值得买入的3只无与伦比的成长型股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188846193","media":"Motley Fool","summary":"A plunging stock market would allow investors to scoop up these superior businesses at a discount.Yo","content":"<p>A plunging stock market would allow investors to scoop up these superior businesses at a discount.You might not like what I'm about to say, but history says it's a fact:Stock market crashes are inevitable.</p><p><blockquote>股市暴跌将使投资者能够以折扣价收购这些优质业务。你可能不喜欢我要说的话，但历史告诉我们这是一个事实：股市崩盘是不可避免的。</blockquote></p><p>Over the past 71 years, the benchmark<b>S&amp;P 500</b>has undergone 38 corrections and crashes that led to a double-digit decline in the index. For you math-phobes out there, this works out to a double-digit decline once every 1.87 years. Crashes are common, and there are always catalysts waiting in the wings to send the market screaming lower.</p><p><blockquote>71年来，基准<b>标普500</b>经历了38次调整和崩盘，导致该指数出现两位数下跌。对于你们这些数学恐惧症患者来说，这相当于每1.87年出现一次两位数的下降。崩盘很常见，总有催化剂在等待，让市场大幅走低。</blockquote></p><p>For example, the Shiller price-to-earnings (P/E) ratio for the S&amp;P 500 -- a measure of the average inflation-adjusted earnings from the previous 10 years -- nearly hit 36 this week. That's well over double the 150-year average of 16.8. What's more, the previous four times the S&amp;P 500's Shiller P/E ratio topped (and sustained) 30, the indexlost a minimum of 20%.</p><p><blockquote>例如，标普500的席勒市盈率（P/E）——衡量过去10年经通胀调整后的平均收益——本周几乎达到36。这是150年平均水平16.8的两倍多。更重要的是，在标普500席勒市盈率突破（并持续）30之前的四次，该指数至少下跌了20%。</blockquote></p><p>Additionally, margin use among retail investors is up. According to a Harris poll released in September, 43% of retail investors are relying on leverage, whether that means buying on margin or using options in an attempt to time the market. If things get moving in the wrong direction, margin calls could seriously hurt the stock market.</p><p><blockquote>此外，散户投资者的保证金使用量也在上升。根据哈里斯9月份发布的一项民意调查，43%的散户投资者依赖杠杆，无论这意味着用保证金购买还是使用期权来把握市场时机。如果事情朝着错误的方向发展，保证金评级可能会严重损害股市。</blockquote></p><p>But there's good news here, as well.</p><p><blockquote>但这里也有好消息。</blockquote></p><p>Each and every stock market crash and correction in history has proved to be a buying opportunity for long-term investors. Eventually, a bull market always erases a correction or bear market decline. With this in mind, the following three unbeatablegrowth stockswould be the perfect buys if the market crashes.</p><p><blockquote>历史上的每一次股市崩盘和调整都被证明是长期投资者的买入机会。最终，牛市总是会抹去调整或熊市下跌。考虑到这一点，如果市场崩盘，以下三只无与伦比的成长型股票将是完美的买入对象。</blockquote></p><p><b>CrowdStrike Holdings</b></p><p><blockquote><b>众击控股</b></blockquote></p><p>Following its stellar fiscal fourth-quarter operating results,cybersecurity stock<b>CrowdStrike Holdings</b>(NASDAQ:CRWD)is looking like an absolute must-own if a market crash occurs.</p><p><blockquote>继第四财季运营业绩出色之后，网络安全股票<b>众击控股</b>（纳斯达克：CRWD）看起来绝对是市场崩盘时必须拥有的股票。</blockquote></p><p>On a macro basis, there should be a double-digit annualized growth opportunity for cybersecurity companies throughout the decade. Businesses were already moving their data into the cloud well before the coronavirus pandemic hit. The past year has simply accelerated an existing trend and generated even more demand for third-party solutions.</p><p><blockquote>从宏观角度来看，网络安全公司在整个十年中应该会有两位数的年化增长机会。早在冠状病毒大流行爆发之前，企业就已经将数据转移到云中。过去的一年只是加速了现有的趋势，并产生了对第三方解决方案的更多需求。</blockquote></p><p>What makes CrowdStrike such a studis the company's Falcon security platform. Falcon is cloud native, responsible for overseeing more than 3 trillion events each week, and is leaning on artificial intelligence (AI) to grow smarter over time. In layman's terms, Falcon can respond to potential threats much faster than in-house security solutions, and in many cases, it can do so at a cheaper overall cost.</p><p><blockquote>是什么让CrowdStrike如此成功研究了该公司的Falcon安全平台。Falcon是云原生的，每周负责监督超过3万亿次事件，并依靠人工智能（AI）随着时间的推移变得更加智能。通俗地说，Falcon可以比内部安全解决方案更快地响应潜在威胁，而且在许多情况下，它可以以更低的总体成本做到这一点。</blockquote></p><p>What's become readily apparent is that CrowdStrike's clients love the product. Over the past 15 quarters (three years, nine months), the percentage of customers with at least four cloud module subscriptions has catapulted from 9% to 63%. What's more, the company has a 12-quarter streak of its dollar-based retention rate topping at least 123%. This means existing customers are spending at least 23% more year over year on subscription services. That's not a surprising figure when you realize that 98% of clients are retained year over year.</p><p><blockquote>显而易见的是，CrowdStrike的客户喜欢这款产品。在过去的15个季度（三年零九个月）中，拥有至少四个云模块订阅的客户比例从9%跃升至63%。更重要的是，该公司以美元计算的保留率已连续12个季度超过至少123%。这意味着现有客户在订阅服务上的支出同比至少增加了23%。当你意识到98%的客户年复一年地被保留时，这个数字并不令人惊讶。</blockquote></p><p>But possibly the craziest thing of all about CrowdStrike is that the company's long-term subscription gross margin target of 75% to 80%-plushas already been achieved, despite the company still being in the early innings of its growth. CrowdStrike has all the makings of a dominant force in cybersecurity solutions.</p><p><blockquote>但CrowdStrike最疯狂的事情可能是，尽管该公司仍处于增长的早期阶段，但该公司75%至80%以上的长期订阅毛利率目标已经实现。CrowdStrike具备网络安全解决方案主导力量的所有条件。</blockquote></p><p><b>Teladoc Health</b></p><p><blockquote><b>Teladoc健康</b></blockquote></p><p>Another growth stock investors can comfortably pile into during a stock market crash is telemedicine giant<b>Teladoc Health</b>(NYSE:TDOC).</p><p><blockquote>投资者在股市崩盘期间可以轻松买入的另一只成长型股票是远程医疗巨头<b>Teladoc健康</b>（纽约证券交易所代码：TDOC）。</blockquote></p><p>As you might have rightly guessed, Teladoc benefited in a big way from the coronavirus pandemic. With physicians and hospitals aiming to keep potentially infected patients and people with chronic health conditions in their homes, the medical community turned in big numbers for virtual visits. In total, Teladoc handled just shy of 10.6 million virtual visits in 2020, up from 4.14 million visits in the prior-year period.</p><p><blockquote>正如您可能正确猜测的那样，Teladoc从冠状病毒大流行中受益匪浅。随着医生和医院的目标是将潜在感染的患者和慢性病患者留在家中，医学界大量进行虚拟就诊。Teladoc在2020年总共处理了近1060万次虚拟访问，高于去年同期的414万次访问。</blockquote></p><p>The big question is: Can Teladoc's growth continue in a post-pandemic environment? The answer ishighly likely to be yes. That's because telehealth is extremely convenient for patients and can help physicians better monitor chronically ill patients. Best of all, virtual visits are usually billed at a lower rate than office visits, which makes telehealth an instant hit with health insurers.</p><p><blockquote>最大的问题是：Teladoc的增长能否在大流行后的环境中继续？答案很可能是肯定的。这是因为远程医疗对患者来说非常方便，可以帮助医生更好地监测慢性病患者。最重要的是，虚拟就诊的费用通常低于办公室就诊，这使得远程医疗立即受到健康保险公司的欢迎。</blockquote></p><p>Teladoc's acquisition ofleading applied health-signals companyLivongo Health also gives it a competitive edge. Livongo is a data-driven company that relies on artificial intelligence (AI) to send its subscribers tips and nudges to help them lead healthier lives. Livongo has secured more than 500,000 diabetics as subscribers and has plans to expand its service to cover hypertension and weight management. In my estimate, Livongo's services could encompass in the neighborhood of 40% of the U.S. population.</p><p><blockquote>Teladoc收购领先的应用健康信号公司Livongo Health也为其带来了竞争优势。Livongo是一家数据驱动型公司，依靠人工智能(AI)向订户发送提示和提示，帮助他们过上更健康的生活。Livongo已获得超过500,000名糖尿病患者的订户，并计划将其服务扩展到高血压和体重管理。据我估计，Livongo的服务可以覆盖大约40%的美国人口。</blockquote></p><p></p><p>As a combined entity, Teladoc and Livongo have the ability to cross-sell, too. With both companies working toward personalizing the care process and improving care oversight, Teladoc looks like a good bet to be one of the fastest-growinghealthcare stocksof the decade.</p><p><blockquote>作为合并后的实体，Teladoc和Livongo也有能力进行交叉销售。随着两家公司都致力于个性化护理流程和改善护理监督，Teladoc看起来很有可能成为十年来增长最快的医疗保健股票之一。</blockquote></p><p><b>Amazon</b></p><p><blockquote><b>亚马逊</b></blockquote></p><p>Finally, when the stock market crashes next, don't be afraid to pull the trigger on shares of e-commerce kingpin<b>Amazon</b>(NASDAQ:AMZN).</p><p><blockquote>最后，当下一次股市崩盘时，不要害怕扣动电子商务巨头股票的扳机<b>亚马逊</b>（纳斯达克：AMZN）。</blockquote></p><p>If you're noticing a trend here, it's that many of the fastest-growing companies benefited from the pandemic -- more specifically, the shift toward online consumption or data storage. Last year, Amazonregistered $386.1 billion in sales, which represents an increase of $105.6 billion, or 38%, from the prior-year period. No one on Wall Street is used to megacap companies growing this robustly.</p><p><blockquote>如果你注意到这里的一个趋势，那就是许多增长最快的公司受益于疫情——更具体地说，是向在线消费或数据存储的转变。去年，亚马逊的销售额为3861亿美元，比上年同期增加了1056亿美元，即38%。华尔街没有人习惯大型公司如此强劲的增长。</blockquote></p><p>One reason Amazon is such a successful company is its sheer dominance of online retail. According to eMarketer, Amazon's U.S. online retail share is expected tojump 100 basis points to 39.7% in 2021. Put another way, $0.40 of every $1 spent online in the U.S. is routed through Amazon.</p><p><blockquote>亚马逊如此成功的原因之一是它在在线零售领域的绝对主导地位。根据eMarketer的数据，亚马逊在美国的在线零售份额预计将在2021年跃升100个基点至39.7%。换句话说，在美国网上消费的每1美元中，有0.40美元是通过亚马逊进行的。</blockquote></p><p>Even though retail margins are nothing to write home about, this sheer dominance has helped the company sign up well over 150 million people worldwide to a Prime subscription. The fees Amazon generates from Prime help it to undercut brick-and-mortar retailers on price.</p><p><blockquote>尽管零售利润率没什么值得大书特书的，但这种绝对的主导地位帮助该公司在全球范围内吸引了超过1.5亿人订阅Prime。亚马逊从Prime产生的费用有助于其在价格上低于实体零售商。</blockquote></p><p>Amazon is also a leader in cloud infrastructure services. Amazon Web Services (AWS) grew sales by 30% in 2020 -- i.e., during the worst economic downturn in decades. Despite accounting for only 11.8% of total sales last year, the exceptionally high margins associated with cloud infrastructure helped AWS bring in $13.5 billion of Amazon's $22.9 billion in operating income. As AWS grows into a larger percentage of total sales,operating cash flow is going to soar.</p><p><blockquote>亚马逊也是云基础设施服务领域的领导者。亚马逊网络服务(AWS)的销售额在2020年增长了30%，即在几十年来最严重的经济衰退期间。尽管去年仅占总销售额的11.8%，但与云基础设施相关的异常高的利润率帮助AWS带来了亚马逊229亿美元营业收入中的135亿美元。随着AWS在总销售额中所占的比例越来越大，运营现金流将会飙升。</blockquote></p><p>After regularly being valued at between 23 and 37 times year-end cash flow, Amazon's current share price has it on pace for a multiple relative to cash flow of sub-15 in 2023. That makes it a bargain you'll want to scoop up on any major dip.</p><p><blockquote>亚马逊的估值通常为年终现金流的23至37倍，目前的股价有望在2023年达到15以下现金流的倍数。这使得它成为您在任何重大下跌时都会想要买入的便宜货。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Unbeatable Growth Stocks to Buy If the Market Crashes<blockquote>如果市场崩盘，值得买入的3只无与伦比的成长型股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Unbeatable Growth Stocks to Buy If the Market Crashes<blockquote>如果市场崩盘，值得买入的3只无与伦比的成长型股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-19 19:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A plunging stock market would allow investors to scoop up these superior businesses at a discount.You might not like what I'm about to say, but history says it's a fact:Stock market crashes are inevitable.</p><p><blockquote>股市暴跌将使投资者能够以折扣价收购这些优质业务。你可能不喜欢我要说的话，但历史告诉我们这是一个事实：股市崩盘是不可避免的。</blockquote></p><p>Over the past 71 years, the benchmark<b>S&amp;P 500</b>has undergone 38 corrections and crashes that led to a double-digit decline in the index. For you math-phobes out there, this works out to a double-digit decline once every 1.87 years. Crashes are common, and there are always catalysts waiting in the wings to send the market screaming lower.</p><p><blockquote>71年来，基准<b>标普500</b>经历了38次调整和崩盘，导致该指数出现两位数下跌。对于你们这些数学恐惧症患者来说，这相当于每1.87年出现一次两位数的下降。崩盘很常见，总有催化剂在等待，让市场大幅走低。</blockquote></p><p>For example, the Shiller price-to-earnings (P/E) ratio for the S&amp;P 500 -- a measure of the average inflation-adjusted earnings from the previous 10 years -- nearly hit 36 this week. That's well over double the 150-year average of 16.8. What's more, the previous four times the S&amp;P 500's Shiller P/E ratio topped (and sustained) 30, the indexlost a minimum of 20%.</p><p><blockquote>例如，标普500的席勒市盈率（P/E）——衡量过去10年经通胀调整后的平均收益——本周几乎达到36。这是150年平均水平16.8的两倍多。更重要的是，在标普500席勒市盈率突破（并持续）30之前的四次，该指数至少下跌了20%。</blockquote></p><p>Additionally, margin use among retail investors is up. According to a Harris poll released in September, 43% of retail investors are relying on leverage, whether that means buying on margin or using options in an attempt to time the market. If things get moving in the wrong direction, margin calls could seriously hurt the stock market.</p><p><blockquote>此外，散户投资者的保证金使用量也在上升。根据哈里斯9月份发布的一项民意调查，43%的散户投资者依赖杠杆，无论这意味着用保证金购买还是使用期权来把握市场时机。如果事情朝着错误的方向发展，保证金评级可能会严重损害股市。</blockquote></p><p>But there's good news here, as well.</p><p><blockquote>但这里也有好消息。</blockquote></p><p>Each and every stock market crash and correction in history has proved to be a buying opportunity for long-term investors. Eventually, a bull market always erases a correction or bear market decline. With this in mind, the following three unbeatablegrowth stockswould be the perfect buys if the market crashes.</p><p><blockquote>历史上的每一次股市崩盘和调整都被证明是长期投资者的买入机会。最终，牛市总是会抹去调整或熊市下跌。考虑到这一点，如果市场崩盘，以下三只无与伦比的成长型股票将是完美的买入对象。</blockquote></p><p><b>CrowdStrike Holdings</b></p><p><blockquote><b>众击控股</b></blockquote></p><p>Following its stellar fiscal fourth-quarter operating results,cybersecurity stock<b>CrowdStrike Holdings</b>(NASDAQ:CRWD)is looking like an absolute must-own if a market crash occurs.</p><p><blockquote>继第四财季运营业绩出色之后，网络安全股票<b>众击控股</b>（纳斯达克：CRWD）看起来绝对是市场崩盘时必须拥有的股票。</blockquote></p><p>On a macro basis, there should be a double-digit annualized growth opportunity for cybersecurity companies throughout the decade. Businesses were already moving their data into the cloud well before the coronavirus pandemic hit. The past year has simply accelerated an existing trend and generated even more demand for third-party solutions.</p><p><blockquote>从宏观角度来看，网络安全公司在整个十年中应该会有两位数的年化增长机会。早在冠状病毒大流行爆发之前，企业就已经将数据转移到云中。过去的一年只是加速了现有的趋势，并产生了对第三方解决方案的更多需求。</blockquote></p><p>What makes CrowdStrike such a studis the company's Falcon security platform. Falcon is cloud native, responsible for overseeing more than 3 trillion events each week, and is leaning on artificial intelligence (AI) to grow smarter over time. In layman's terms, Falcon can respond to potential threats much faster than in-house security solutions, and in many cases, it can do so at a cheaper overall cost.</p><p><blockquote>是什么让CrowdStrike如此成功研究了该公司的Falcon安全平台。Falcon是云原生的，每周负责监督超过3万亿次事件，并依靠人工智能（AI）随着时间的推移变得更加智能。通俗地说，Falcon可以比内部安全解决方案更快地响应潜在威胁，而且在许多情况下，它可以以更低的总体成本做到这一点。</blockquote></p><p>What's become readily apparent is that CrowdStrike's clients love the product. Over the past 15 quarters (three years, nine months), the percentage of customers with at least four cloud module subscriptions has catapulted from 9% to 63%. What's more, the company has a 12-quarter streak of its dollar-based retention rate topping at least 123%. This means existing customers are spending at least 23% more year over year on subscription services. That's not a surprising figure when you realize that 98% of clients are retained year over year.</p><p><blockquote>显而易见的是，CrowdStrike的客户喜欢这款产品。在过去的15个季度（三年零九个月）中，拥有至少四个云模块订阅的客户比例从9%跃升至63%。更重要的是，该公司以美元计算的保留率已连续12个季度超过至少123%。这意味着现有客户在订阅服务上的支出同比至少增加了23%。当你意识到98%的客户年复一年地被保留时，这个数字并不令人惊讶。</blockquote></p><p>But possibly the craziest thing of all about CrowdStrike is that the company's long-term subscription gross margin target of 75% to 80%-plushas already been achieved, despite the company still being in the early innings of its growth. CrowdStrike has all the makings of a dominant force in cybersecurity solutions.</p><p><blockquote>但CrowdStrike最疯狂的事情可能是，尽管该公司仍处于增长的早期阶段，但该公司75%至80%以上的长期订阅毛利率目标已经实现。CrowdStrike具备网络安全解决方案主导力量的所有条件。</blockquote></p><p><b>Teladoc Health</b></p><p><blockquote><b>Teladoc健康</b></blockquote></p><p>Another growth stock investors can comfortably pile into during a stock market crash is telemedicine giant<b>Teladoc Health</b>(NYSE:TDOC).</p><p><blockquote>投资者在股市崩盘期间可以轻松买入的另一只成长型股票是远程医疗巨头<b>Teladoc健康</b>（纽约证券交易所代码：TDOC）。</blockquote></p><p>As you might have rightly guessed, Teladoc benefited in a big way from the coronavirus pandemic. With physicians and hospitals aiming to keep potentially infected patients and people with chronic health conditions in their homes, the medical community turned in big numbers for virtual visits. In total, Teladoc handled just shy of 10.6 million virtual visits in 2020, up from 4.14 million visits in the prior-year period.</p><p><blockquote>正如您可能正确猜测的那样，Teladoc从冠状病毒大流行中受益匪浅。随着医生和医院的目标是将潜在感染的患者和慢性病患者留在家中，医学界大量进行虚拟就诊。Teladoc在2020年总共处理了近1060万次虚拟访问，高于去年同期的414万次访问。</blockquote></p><p>The big question is: Can Teladoc's growth continue in a post-pandemic environment? The answer ishighly likely to be yes. That's because telehealth is extremely convenient for patients and can help physicians better monitor chronically ill patients. Best of all, virtual visits are usually billed at a lower rate than office visits, which makes telehealth an instant hit with health insurers.</p><p><blockquote>最大的问题是：Teladoc的增长能否在大流行后的环境中继续？答案很可能是肯定的。这是因为远程医疗对患者来说非常方便，可以帮助医生更好地监测慢性病患者。最重要的是，虚拟就诊的费用通常低于办公室就诊，这使得远程医疗立即受到健康保险公司的欢迎。</blockquote></p><p>Teladoc's acquisition ofleading applied health-signals companyLivongo Health also gives it a competitive edge. Livongo is a data-driven company that relies on artificial intelligence (AI) to send its subscribers tips and nudges to help them lead healthier lives. Livongo has secured more than 500,000 diabetics as subscribers and has plans to expand its service to cover hypertension and weight management. In my estimate, Livongo's services could encompass in the neighborhood of 40% of the U.S. population.</p><p><blockquote>Teladoc收购领先的应用健康信号公司Livongo Health也为其带来了竞争优势。Livongo是一家数据驱动型公司，依靠人工智能(AI)向订户发送提示和提示，帮助他们过上更健康的生活。Livongo已获得超过500,000名糖尿病患者的订户，并计划将其服务扩展到高血压和体重管理。据我估计，Livongo的服务可以覆盖大约40%的美国人口。</blockquote></p><p></p><p>As a combined entity, Teladoc and Livongo have the ability to cross-sell, too. With both companies working toward personalizing the care process and improving care oversight, Teladoc looks like a good bet to be one of the fastest-growinghealthcare stocksof the decade.</p><p><blockquote>作为合并后的实体，Teladoc和Livongo也有能力进行交叉销售。随着两家公司都致力于个性化护理流程和改善护理监督，Teladoc看起来很有可能成为十年来增长最快的医疗保健股票之一。</blockquote></p><p><b>Amazon</b></p><p><blockquote><b>亚马逊</b></blockquote></p><p>Finally, when the stock market crashes next, don't be afraid to pull the trigger on shares of e-commerce kingpin<b>Amazon</b>(NASDAQ:AMZN).</p><p><blockquote>最后，当下一次股市崩盘时，不要害怕扣动电子商务巨头股票的扳机<b>亚马逊</b>（纳斯达克：AMZN）。</blockquote></p><p>If you're noticing a trend here, it's that many of the fastest-growing companies benefited from the pandemic -- more specifically, the shift toward online consumption or data storage. Last year, Amazonregistered $386.1 billion in sales, which represents an increase of $105.6 billion, or 38%, from the prior-year period. No one on Wall Street is used to megacap companies growing this robustly.</p><p><blockquote>如果你注意到这里的一个趋势，那就是许多增长最快的公司受益于疫情——更具体地说，是向在线消费或数据存储的转变。去年，亚马逊的销售额为3861亿美元，比上年同期增加了1056亿美元，即38%。华尔街没有人习惯大型公司如此强劲的增长。</blockquote></p><p>One reason Amazon is such a successful company is its sheer dominance of online retail. According to eMarketer, Amazon's U.S. online retail share is expected tojump 100 basis points to 39.7% in 2021. Put another way, $0.40 of every $1 spent online in the U.S. is routed through Amazon.</p><p><blockquote>亚马逊如此成功的原因之一是它在在线零售领域的绝对主导地位。根据eMarketer的数据，亚马逊在美国的在线零售份额预计将在2021年跃升100个基点至39.7%。换句话说，在美国网上消费的每1美元中，有0.40美元是通过亚马逊进行的。</blockquote></p><p>Even though retail margins are nothing to write home about, this sheer dominance has helped the company sign up well over 150 million people worldwide to a Prime subscription. The fees Amazon generates from Prime help it to undercut brick-and-mortar retailers on price.</p><p><blockquote>尽管零售利润率没什么值得大书特书的，但这种绝对的主导地位帮助该公司在全球范围内吸引了超过1.5亿人订阅Prime。亚马逊从Prime产生的费用有助于其在价格上低于实体零售商。</blockquote></p><p>Amazon is also a leader in cloud infrastructure services. Amazon Web Services (AWS) grew sales by 30% in 2020 -- i.e., during the worst economic downturn in decades. Despite accounting for only 11.8% of total sales last year, the exceptionally high margins associated with cloud infrastructure helped AWS bring in $13.5 billion of Amazon's $22.9 billion in operating income. As AWS grows into a larger percentage of total sales,operating cash flow is going to soar.</p><p><blockquote>亚马逊也是云基础设施服务领域的领导者。亚马逊网络服务(AWS)的销售额在2020年增长了30%，即在几十年来最严重的经济衰退期间。尽管去年仅占总销售额的11.8%，但与云基础设施相关的异常高的利润率帮助AWS带来了亚马逊229亿美元营业收入中的135亿美元。随着AWS在总销售额中所占的比例越来越大，运营现金流将会飙升。</blockquote></p><p>After regularly being valued at between 23 and 37 times year-end cash flow, Amazon's current share price has it on pace for a multiple relative to cash flow of sub-15 in 2023. That makes it a bargain you'll want to scoop up on any major dip.</p><p><blockquote>亚马逊的估值通常为年终现金流的23至37倍，目前的股价有望在2023年达到15以下现金流的倍数。这使得它成为您在任何重大下跌时都会想要买入的便宜货。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/19/3-unbeatable-growth-stocks-buy-if-market-crashes/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/03/19/3-unbeatable-growth-stocks-buy-if-market-crashes/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188846193","content_text":"A plunging stock market would allow investors to scoop up these superior businesses at a discount.You might not like what I'm about to say, but history says it's a fact:Stock market crashes are inevitable.Over the past 71 years, the benchmarkS&P 500has undergone 38 corrections and crashes that led to a double-digit decline in the index. For you math-phobes out there, this works out to a double-digit decline once every 1.87 years. Crashes are common, and there are always catalysts waiting in the wings to send the market screaming lower.For example, the Shiller price-to-earnings (P/E) ratio for the S&P 500 -- a measure of the average inflation-adjusted earnings from the previous 10 years -- nearly hit 36 this week. That's well over double the 150-year average of 16.8. What's more, the previous four times the S&P 500's Shiller P/E ratio topped (and sustained) 30, the indexlost a minimum of 20%.Additionally, margin use among retail investors is up. According to a Harris poll released in September, 43% of retail investors are relying on leverage, whether that means buying on margin or using options in an attempt to time the market. If things get moving in the wrong direction, margin calls could seriously hurt the stock market.But there's good news here, as well.Each and every stock market crash and correction in history has proved to be a buying opportunity for long-term investors. Eventually, a bull market always erases a correction or bear market decline. With this in mind, the following three unbeatablegrowth stockswould be the perfect buys if the market crashes.CrowdStrike HoldingsFollowing its stellar fiscal fourth-quarter operating results,cybersecurity stockCrowdStrike Holdings(NASDAQ:CRWD)is looking like an absolute must-own if a market crash occurs.On a macro basis, there should be a double-digit annualized growth opportunity for cybersecurity companies throughout the decade. Businesses were already moving their data into the cloud well before the coronavirus pandemic hit. The past year has simply accelerated an existing trend and generated even more demand for third-party solutions.What makes CrowdStrike such a studis the company's Falcon security platform. Falcon is cloud native, responsible for overseeing more than 3 trillion events each week, and is leaning on artificial intelligence (AI) to grow smarter over time. In layman's terms, Falcon can respond to potential threats much faster than in-house security solutions, and in many cases, it can do so at a cheaper overall cost.What's become readily apparent is that CrowdStrike's clients love the product. Over the past 15 quarters (three years, nine months), the percentage of customers with at least four cloud module subscriptions has catapulted from 9% to 63%. What's more, the company has a 12-quarter streak of its dollar-based retention rate topping at least 123%. This means existing customers are spending at least 23% more year over year on subscription services. That's not a surprising figure when you realize that 98% of clients are retained year over year.But possibly the craziest thing of all about CrowdStrike is that the company's long-term subscription gross margin target of 75% to 80%-plushas already been achieved, despite the company still being in the early innings of its growth. CrowdStrike has all the makings of a dominant force in cybersecurity solutions.Teladoc HealthAnother growth stock investors can comfortably pile into during a stock market crash is telemedicine giantTeladoc Health(NYSE:TDOC).As you might have rightly guessed, Teladoc benefited in a big way from the coronavirus pandemic. With physicians and hospitals aiming to keep potentially infected patients and people with chronic health conditions in their homes, the medical community turned in big numbers for virtual visits. In total, Teladoc handled just shy of 10.6 million virtual visits in 2020, up from 4.14 million visits in the prior-year period.The big question is: Can Teladoc's growth continue in a post-pandemic environment? The answer ishighly likely to be yes. That's because telehealth is extremely convenient for patients and can help physicians better monitor chronically ill patients. Best of all, virtual visits are usually billed at a lower rate than office visits, which makes telehealth an instant hit with health insurers.Teladoc's acquisition ofleading applied health-signals companyLivongo Health also gives it a competitive edge. Livongo is a data-driven company that relies on artificial intelligence (AI) to send its subscribers tips and nudges to help them lead healthier lives. Livongo has secured more than 500,000 diabetics as subscribers and has plans to expand its service to cover hypertension and weight management. In my estimate, Livongo's services could encompass in the neighborhood of 40% of the U.S. population.As a combined entity, Teladoc and Livongo have the ability to cross-sell, too. With both companies working toward personalizing the care process and improving care oversight, Teladoc looks like a good bet to be one of the fastest-growinghealthcare stocksof the decade.AmazonFinally, when the stock market crashes next, don't be afraid to pull the trigger on shares of e-commerce kingpinAmazon(NASDAQ:AMZN).If you're noticing a trend here, it's that many of the fastest-growing companies benefited from the pandemic -- more specifically, the shift toward online consumption or data storage. Last year, Amazonregistered $386.1 billion in sales, which represents an increase of $105.6 billion, or 38%, from the prior-year period. No one on Wall Street is used to megacap companies growing this robustly.One reason Amazon is such a successful company is its sheer dominance of online retail. According to eMarketer, Amazon's U.S. online retail share is expected tojump 100 basis points to 39.7% in 2021. Put another way, $0.40 of every $1 spent online in the U.S. is routed through Amazon.Even though retail margins are nothing to write home about, this sheer dominance has helped the company sign up well over 150 million people worldwide to a Prime subscription. The fees Amazon generates from Prime help it to undercut brick-and-mortar retailers on price.Amazon is also a leader in cloud infrastructure services. Amazon Web Services (AWS) grew sales by 30% in 2020 -- i.e., during the worst economic downturn in decades. Despite accounting for only 11.8% of total sales last year, the exceptionally high margins associated with cloud infrastructure helped AWS bring in $13.5 billion of Amazon's $22.9 billion in operating income. As AWS grows into a larger percentage of total sales,operating cash flow is going to soar.After regularly being valued at between 23 and 37 times year-end cash flow, Amazon's current share price has it on pace for a multiple relative to cash flow of sub-15 in 2023. That makes it a bargain you'll want to scoop up on any major dip.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1994,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350971259,"gmtCreate":1616155875671,"gmtModify":1634526968966,"author":{"id":"3574767847289890","authorId":"3574767847289890","name":"KennethHi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574767847289890","idStr":"3574767847289890"},"themes":[],"htmlText":"GME to the moon","listText":"GME to the moon","text":"GME to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350971259","repostId":"1143733672","repostType":4,"isVote":1,"tweetType":1,"viewCount":1519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}