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2021-11-16

Time to buy or sell?

Sell AAPL? Why This Expert Sees Apple Stock Dipping 12%<blockquote>卖苹果？为什么这位专家认为苹果股价下跌 12%</blockquote>

2021-11-04

Go go go!

S&P 500 rises for a sixth straight day, Dow hovers near a record<blockquote>标普500连续第六天上涨，道琼斯指数徘徊在历史新高附近</blockquote>

2021-11-04

Thank you!

抱歉，原内容已删除

2021-11-02

Ok time to buy?

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2021-10-24

Price to increase?

Intel: Good Value Or Value Trap?<blockquote>英特尔：好价值还是价值陷阱？</blockquote>

2021-10-14

Time to buy Inovio?

抱歉，原内容已删除

2021-10-04

Time to buy or wait?

Top Wall Street analysts picks these 5 stocks for the fourth quarter<blockquote>华尔街顶级分析师为第四季度挑选这 5 只股票</blockquote>

2021-09-29

Phone to be made cheaper?

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2021-09-27

Accurate?

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2021-09-26

Time to buy?

Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始在亚利桑那州建设两家计算机芯片工厂</blockquote>

2021-09-24

Go go go!

EngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart 开盘价为 37 美元，较 IPO 价格上涨约 43.6%</blockquote>

2021-09-22

Go go go!

抱歉，原内容已删除

2021-09-19

Yeah WFH is great!

抱歉，原内容已删除

2021-09-18

Prices to go up?

抱歉，原内容已删除

2021-09-16

Should we buy or wait???

抱歉，原内容已删除

2021-09-13

Time to buy?

Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>

2021-09-12

Good Luck

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2021-09-10

Time to buy?

抱歉，原内容已删除

2021-09-07

Buy?

抱歉，原内容已删除

2021-09-05

Oh

抱歉，原内容已删除

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to buy or sell?","listText":"Time to buy or sell?","text":"Time to buy or sell?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/871124836","repostId":"1116429379","repostType":4,"repost":{"id":"1116429379","kind":"news","pubTimestamp":1637033648,"share":"https://www.laohunote.com/m/news/1116429379?lang=zh_CN&edition=full","pubTime":"2021-11-16 11:34","market":"us","language":"en","title":"Sell AAPL? Why This Expert Sees Apple Stock Dipping 12%<blockquote>卖苹果？为什么这位专家认为苹果股价下跌 12%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1116429379","media":"Thestreet","summary":"As Apple stock(AAPL) continues to hover around $150 apiece, one of the few skeptics on Wall Street h","content":"<p>As Apple stock(<b>AAPL</b>)&nbsp;continues to hover around $150 apiece, one of the few skeptics on Wall Street has just published his most updated report. In it, he reinforced the idea that AAPL should be worth only $132, suggesting that shares have 12% of downside risk from here.</p><p><blockquote>作为苹果股票（<b>苹果</b>）继续徘徊在每股 150 美元左右，华尔街为数不多的怀疑论者之一刚刚发布了他的最新报告。在其中，他强化了 AAPL 的价值应仅 132 美元的观点，表明该股从现在起有 12% 的下行风险。</blockquote></p><p> Today, the Apple Maven revisits Bernstein’s Toni Sacconaghi’s mildly bearish case.</p><p><blockquote>今天，这位苹果专家重温了伯恩斯坦的托尼-萨科纳吉（Toni Sacconaghi）的温和看跌案例。</blockquote></p><p> The not-so-bullish case</p><p><blockquote>不那么乐观的情况</blockquote></p><p> Mr. Sacconaghi has been cautious of AAPL since he&nbsp;downgraded&nbsp;the stock to neutral, in February 2018. The timing of his move did not prove to be the best, as Apple shares have climbed a whopping 285% in less than four years against the S&amp;P 500’s 85% gains. However, the analyst has also helped AAPL investors think of the devil’s advocate argument.</p><p><blockquote>自 2018 年 2 月将 AAPL 股票评级下调至中性以来，萨科纳吉先生一直对该股持谨慎态度。事实证明，他此举的时机并不是最佳时机，因为苹果的股价在不到四年的时间里上涨了 285%，而标普500的涨幅为 85%。不过，这位分析师也帮助苹果公司的投资者思考了魔鬼代言人的论点。</blockquote></p><p> In August, I&nbsp;reviewed Bernstein’s thesis&nbsp;in more detail. For the short term, the bank’s research team was concerned that Apple stock had climbed too fast in the first half of the year, ahead of a set of earnings seasons in which Apple would face tough comps.</p><p><blockquote>八月份，我更详细地回顾了伯恩斯坦的论文。从短期来看，该银行的研究团队担心苹果股价在今年上半年攀升过快，而苹果将面临一系列艰难的财报季。</blockquote></p><p> Also, Toni has mentioned valuations as a key risk. While he believes that AAPL should be valued at a higher multiple than the S&amp;P 500, the analyst questions how much is too much. Bernstein’s target P/E of 25 times is one to two turns lower than where the multiple is today.</p><p><blockquote>此外，托尼还提到估值是一个关键风险。虽然他认为苹果公司的估值应该高于标普500，但这位分析师质疑多少才算太多。伯恩斯坦的目标市盈率为 25 倍，比目前的市盈率低一到两倍。</blockquote></p><p> Add App Store to the list</p><p><blockquote>将App Store添加到列表</blockquote></p><p> Now, the analyst has&nbsp;added&nbsp;one item to the list of worries: the App Store. Sacconaghi pointed out that a recent court loss will likely mean that payments will be allowed to be made outside the App Store platform in the US, starting as early as next month.</p><p><blockquote>现在，这位分析师在担忧清单上又增加了一个项目：App Store。萨科纳吉指出，最近的法庭败诉可能意味着最早从下个月开始，将允许在美国 App Store 平台之外进行付款。</blockquote></p><p> Bernstein’s expert has done the math. He estimates that nearly one-third of App Store revenues come from the United States. If the App Store accounts for 6% and 15% of total company sales and op profits, respectively, the payment issue could impact 2% of Apple’s revenues and 5% of op profits per year.</p><p><blockquote>伯恩斯坦的专家已经算了一笔账。他估计，App Store近三分之一的收入来自美国。如果 App Store 分别占公司总销售额和 op 利润的 6% 和 15%，那么支付问题每年可能会影响苹果 2% 的收入和 5% 的 op 利润。</blockquote></p><p> Apple Maven’s take</p><p><blockquote>苹果·马文的观点</blockquote></p><p> Regarding Toni’s earlier concerns, I believe that the risks have decreased substantially since AAPL peaked, in early September. Since then, investors have had time to fully embrace the more challenging late 2021-to-early 2022 period of tough comps and supply chain constraints.As I mentioned not long ago, valuations have de-risked to more reasonable levels.</p><p><blockquote>关于托尼之前的担忧，我认为自 9 月初 AAPL 达到顶峰以来，风险已经大大降低。从那时起，投资者有时间充分接受2021年底至2022年初更具挑战性的艰难竞争和供应链限制时期。正如我不久前提到的，估值已经降低到更合理的水平。</blockquote></p><p> Regarding the App Store, I have slowly&nbsp;shifted from more to less concerned&nbsp;about the financial impact. Morgan Stanley’s Katy Huberty has argued that App Store policy changes could shave a maximum of 1% or 2% of Apple’s EPS, which is not much at all.</p><p><blockquote>关于 App Store，我已经慢慢从更多关注财务影响转变为不太关注。摩根士丹利（Morgan Stanley）的凯蒂-休伯蒂（Katy Huberty）认为，App Store 政策的变化最多可能使苹果的每股收益减少 1% 或 2%，这根本不算什么。</blockquote></p><p> Even Sacconaghi’s estimates of the financial risk only represents the worst-case scenario. In reality, much less than 2% of Apple’s revenues and 5% of op profits will likely end up being cut as a result of the App Store’s payment changes, as many users will continue to choose Apple as their payment platform of choice.</p><p><blockquote>即使是萨科纳吉对金融风险的估计也只代表了最坏的情况。实际上，由于 App Store 的支付方式发生变化，苹果收入的 2% 和运营商利润的 5% 最终可能会被削减，因为许多用户将继续选择苹果作为他们的首选支付平台。</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>Sell AAPL? Why This Expert Sees Apple Stock Dipping 12%<blockquote>卖苹果？为什么这位专家认为苹果股价下跌 12%</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\">\nSell AAPL? Why This Expert Sees Apple Stock Dipping 12%<blockquote>卖苹果？为什么这位专家认为苹果股价下跌 12%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-11-16 11:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As Apple stock(<b>AAPL</b>)&nbsp;continues to hover around $150 apiece, one of the few skeptics on Wall Street has just published his most updated report. In it, he reinforced the idea that AAPL should be worth only $132, suggesting that shares have 12% of downside risk from here.</p><p><blockquote>作为苹果股票（<b>苹果</b>）继续徘徊在每股 150 美元左右，华尔街为数不多的怀疑论者之一刚刚发布了他的最新报告。在其中，他强化了 AAPL 的价值应仅 132 美元的观点，表明该股从现在起有 12% 的下行风险。</blockquote></p><p> Today, the Apple Maven revisits Bernstein’s Toni Sacconaghi’s mildly bearish case.</p><p><blockquote>今天，这位苹果专家重温了伯恩斯坦的托尼-萨科纳吉（Toni Sacconaghi）的温和看跌案例。</blockquote></p><p> The not-so-bullish case</p><p><blockquote>不那么乐观的情况</blockquote></p><p> Mr. Sacconaghi has been cautious of AAPL since he&nbsp;downgraded&nbsp;the stock to neutral, in February 2018. The timing of his move did not prove to be the best, as Apple shares have climbed a whopping 285% in less than four years against the S&amp;P 500’s 85% gains. However, the analyst has also helped AAPL investors think of the devil’s advocate argument.</p><p><blockquote>自 2018 年 2 月将 AAPL 股票评级下调至中性以来，萨科纳吉先生一直对该股持谨慎态度。事实证明，他此举的时机并不是最佳时机，因为苹果的股价在不到四年的时间里上涨了 285%，而标普500的涨幅为 85%。不过，这位分析师也帮助苹果公司的投资者思考了魔鬼代言人的论点。</blockquote></p><p> In August, I&nbsp;reviewed Bernstein’s thesis&nbsp;in more detail. For the short term, the bank’s research team was concerned that Apple stock had climbed too fast in the first half of the year, ahead of a set of earnings seasons in which Apple would face tough comps.</p><p><blockquote>八月份，我更详细地回顾了伯恩斯坦的论文。从短期来看，该银行的研究团队担心苹果股价在今年上半年攀升过快，而苹果将面临一系列艰难的财报季。</blockquote></p><p> Also, Toni has mentioned valuations as a key risk. While he believes that AAPL should be valued at a higher multiple than the S&amp;P 500, the analyst questions how much is too much. Bernstein’s target P/E of 25 times is one to two turns lower than where the multiple is today.</p><p><blockquote>此外，托尼还提到估值是一个关键风险。虽然他认为苹果公司的估值应该高于标普500，但这位分析师质疑多少才算太多。伯恩斯坦的目标市盈率为 25 倍，比目前的市盈率低一到两倍。</blockquote></p><p> Add App Store to the list</p><p><blockquote>将App Store添加到列表</blockquote></p><p> Now, the analyst has&nbsp;added&nbsp;one item to the list of worries: the App Store. Sacconaghi pointed out that a recent court loss will likely mean that payments will be allowed to be made outside the App Store platform in the US, starting as early as next month.</p><p><blockquote>现在，这位分析师在担忧清单上又增加了一个项目：App Store。萨科纳吉指出，最近的法庭败诉可能意味着最早从下个月开始，将允许在美国 App Store 平台之外进行付款。</blockquote></p><p> Bernstein’s expert has done the math. He estimates that nearly one-third of App Store revenues come from the United States. If the App Store accounts for 6% and 15% of total company sales and op profits, respectively, the payment issue could impact 2% of Apple’s revenues and 5% of op profits per year.</p><p><blockquote>伯恩斯坦的专家已经算了一笔账。他估计，App Store近三分之一的收入来自美国。如果 App Store 分别占公司总销售额和 op 利润的 6% 和 15%，那么支付问题每年可能会影响苹果 2% 的收入和 5% 的 op 利润。</blockquote></p><p> Apple Maven’s take</p><p><blockquote>苹果·马文的观点</blockquote></p><p> Regarding Toni’s earlier concerns, I believe that the risks have decreased substantially since AAPL peaked, in early September. Since then, investors have had time to fully embrace the more challenging late 2021-to-early 2022 period of tough comps and supply chain constraints.As I mentioned not long ago, valuations have de-risked to more reasonable levels.</p><p><blockquote>关于托尼之前的担忧，我认为自 9 月初 AAPL 达到顶峰以来，风险已经大大降低。从那时起，投资者有时间充分接受2021年底至2022年初更具挑战性的艰难竞争和供应链限制时期。正如我不久前提到的，估值已经降低到更合理的水平。</blockquote></p><p> Regarding the App Store, I have slowly&nbsp;shifted from more to less concerned&nbsp;about the financial impact. Morgan Stanley’s Katy Huberty has argued that App Store policy changes could shave a maximum of 1% or 2% of Apple’s EPS, which is not much at all.</p><p><blockquote>关于 App Store，我已经慢慢从更多关注财务影响转变为不太关注。摩根士丹利（Morgan Stanley）的凯蒂-休伯蒂（Katy Huberty）认为，App Store 政策的变化最多可能使苹果的每股收益减少 1% 或 2%，这根本不算什么。</blockquote></p><p> Even Sacconaghi’s estimates of the financial risk only represents the worst-case scenario. In reality, much less than 2% of Apple’s revenues and 5% of op profits will likely end up being cut as a result of the App Store’s payment changes, as many users will continue to choose Apple as their payment platform of choice.</p><p><blockquote>即使是萨科纳吉对金融风险的估计也只代表了最坏的情况。实际上，由于 App Store 的支付方式发生变化，苹果收入的 2% 和运营商利润的 5% 最终可能会被削减，因为许多用户将继续选择苹果作为他们的首选支付平台。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/stock/sell-aapl-why-this-expert-sees-apple-stock-dipping-12\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/sell-aapl-why-this-expert-sees-apple-stock-dipping-12","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116429379","content_text":"As Apple stock(AAPL) continues to hover around $150 apiece, one of the few skeptics on Wall Street has just published his most updated report. In it, he reinforced the idea that AAPL should be worth only $132, suggesting that shares have 12% of downside risk from here.\nToday, the Apple Maven revisits Bernstein’s Toni Sacconaghi’s mildly bearish case.\nThe not-so-bullish case\nMr. Sacconaghi has been cautious of AAPL since he downgraded the stock to neutral, in February 2018. The timing of his move did not prove to be the best, as Apple shares have climbed a whopping 285% in less than four years against the S&P 500’s 85% gains. However, the analyst has also helped AAPL investors think of the devil’s advocate argument.\nIn August, I reviewed Bernstein’s thesis in more detail. For the short term, the bank’s research team was concerned that Apple stock had climbed too fast in the first half of the year, ahead of a set of earnings seasons in which Apple would face tough comps.\nAlso, Toni has mentioned valuations as a key risk. While he believes that AAPL should be valued at a higher multiple than the S&P 500, the analyst questions how much is too much. Bernstein’s target P/E of 25 times is one to two turns lower than where the multiple is today.\nAdd App Store to the list\nNow, the analyst has added one item to the list of worries: the App Store. Sacconaghi pointed out that a recent court loss will likely mean that payments will be allowed to be made outside the App Store platform in the US, starting as early as next month.\nBernstein’s expert has done the math. He estimates that nearly one-third of App Store revenues come from the United States. If the App Store accounts for 6% and 15% of total company sales and op profits, respectively, the payment issue could impact 2% of Apple’s revenues and 5% of op profits per year.\nApple Maven’s take\nRegarding Toni’s earlier concerns, I believe that the risks have decreased substantially since AAPL peaked, in early September. Since then, investors have had time to fully embrace the more challenging late 2021-to-early 2022 period of tough comps and supply chain constraints.As I mentioned not long ago, valuations have de-risked to more reasonable levels.\nRegarding the App Store, I have slowly shifted from more to less concerned about the financial impact. Morgan Stanley’s Katy Huberty has argued that App Store policy changes could shave a maximum of 1% or 2% of Apple’s EPS, which is not much at all.\nEven Sacconaghi’s estimates of the financial risk only represents the worst-case scenario. In reality, much less than 2% of Apple’s revenues and 5% of op profits will likely end up being cut as a result of the App Store’s payment changes, as many users will continue to choose Apple as their payment platform of choice.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":3272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848779135,"gmtCreate":1636033215509,"gmtModify":1636033248477,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Go go go!","listText":"Go go go!","text":"Go go go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/848779135","repostId":"1103660582","repostType":4,"repost":{"id":"1103660582","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1636032692,"share":"https://www.laohunote.com/m/news/1103660582?lang=zh_CN&edition=full","pubTime":"2021-11-04 21:31","market":"us","language":"en","title":"S&P 500 rises for a sixth straight day, Dow hovers near a record<blockquote>标普500连续第六天上涨，道琼斯指数徘徊在历史新高附近</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103660582","media":"Tiger Newspress","summary":"The S&P 500 rose for a sixth day in a row on Thursday after the equity benchmark closed at a record ","content":"<p>The S&amp;P 500 rose for a sixth day in a row on Thursday after the equity benchmark closed at a record following commentary from the Federal Reserve in the prior session.</p><p><blockquote>标普500周四连续第六天上涨，此前美联储在前一交易日发表评论后，股市基准收盘创下历史新高。</blockquote></p><p> The S&amp;P 500 gained 0.2%, while the Dow Jones Industrial Average was trading near the flatline. The tech-heavy Nasdaq Composite rose 0.2%. All three averages finished the prior session at record highs.</p><p><blockquote>标普500上涨 0.2%，而道琼斯工业平均指数则接近持平线。以科技股为主的纳斯达克综合指数上涨 0.2%。前一交易日的三个平均值均创下历史新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2a14d5a66f1a4044fe93913c89576ad8\" tg-width=\"1073\" tg-height=\"456\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla shares rose more than 1% to a new high.</p><p><blockquote>特斯拉股价上涨超过1%，创下新高。</blockquote></p><p> Qualcomm led gainers on the S&amp;P 500, rallying 15% following&nbsp;an earnings beat&nbsp;propelled by a 56% surge in smartphone chip sales. The company also provide strong guidance for the fourth quarter.</p><p><blockquote>在智能手机芯片销量激增 56% 的推动下，高通在标普500领涨，股价上涨 15%。该公司还为第四季度提供了强有力的指引。</blockquote></p><p> MGM shares gained nearly 5% after the casino operator announcing plans to sell the operations of its Mirage casino in Las Vegas to another operator. The company noted that no sales agreement had been reached and it did not mention any possible buyers.</p><p><blockquote>在赌场运营商米高梅宣布计划将其位于拉斯维加斯的 Mirage 赌场业务出售给另一家运营商后，米高梅股价上涨近 5%。该公司指出，尚未达成销售协议，也没有提及任何可能的买家。</blockquote></p><p> Fastly's stock rose 8%&nbsp;as&nbsp;its third quarter performance exceeded market expectations, and some lost users were observed to return.</p><p><blockquote>Fastly 的股价上涨了 8%，因为其第三季度业绩超出了市场预期，并且观察到一些流失的用户正在回归。</blockquote></p><p> Yet Moderna shares cratered after the drugmaker&nbsp;slashed its Covid-19 vaccine revenue outlook. The sotck was last down about 11%.</p><p><blockquote>然而，在制药商下调 Covid-19 疫苗收入预期后，Moderna 股价暴跌。sotck 最后下跌约 11%。</blockquote></p><p> And Roku was under pressure, falling more than 7% after the streaming platform&nbsp;reported disappointing third-quarter revenue.</p><p><blockquote>Roku也面临压力，在该流媒体平台公布令人失望的第三季度收入后，股价下跌超过 7%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 rises for a sixth straight day, Dow hovers near a record<blockquote>标普500连续第六天上涨，道琼斯指数徘徊在历史新高附近</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\">\nS&P 500 rises for a sixth straight day, Dow hovers near a record<blockquote>标普500连续第六天上涨，道琼斯指数徘徊在历史新高附近</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-04 21:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 rose for a sixth day in a row on Thursday after the equity benchmark closed at a record following commentary from the Federal Reserve in the prior session.</p><p><blockquote>标普500周四连续第六天上涨，此前美联储在前一交易日发表评论后，股市基准收盘创下历史新高。</blockquote></p><p> The S&amp;P 500 gained 0.2%, while the Dow Jones Industrial Average was trading near the flatline. The tech-heavy Nasdaq Composite rose 0.2%. All three averages finished the prior session at record highs.</p><p><blockquote>标普500上涨 0.2%，而道琼斯工业平均指数则接近持平线。以科技股为主的纳斯达克综合指数上涨 0.2%。前一交易日的三个平均值均创下历史新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2a14d5a66f1a4044fe93913c89576ad8\" tg-width=\"1073\" tg-height=\"456\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla shares rose more than 1% to a new high.</p><p><blockquote>特斯拉股价上涨超过1%，创下新高。</blockquote></p><p> Qualcomm led gainers on the S&amp;P 500, rallying 15% following&nbsp;an earnings beat&nbsp;propelled by a 56% surge in smartphone chip sales. The company also provide strong guidance for the fourth quarter.</p><p><blockquote>在智能手机芯片销量激增 56% 的推动下，高通在标普500领涨，股价上涨 15%。该公司还为第四季度提供了强有力的指引。</blockquote></p><p> MGM shares gained nearly 5% after the casino operator announcing plans to sell the operations of its Mirage casino in Las Vegas to another operator. The company noted that no sales agreement had been reached and it did not mention any possible buyers.</p><p><blockquote>在赌场运营商米高梅宣布计划将其位于拉斯维加斯的 Mirage 赌场业务出售给另一家运营商后，米高梅股价上涨近 5%。该公司指出，尚未达成销售协议，也没有提及任何可能的买家。</blockquote></p><p> Fastly's stock rose 8%&nbsp;as&nbsp;its third quarter performance exceeded market expectations, and some lost users were observed to return.</p><p><blockquote>Fastly 的股价上涨了 8%，因为其第三季度业绩超出了市场预期，并且观察到一些流失的用户正在回归。</blockquote></p><p> Yet Moderna shares cratered after the drugmaker&nbsp;slashed its Covid-19 vaccine revenue outlook. The sotck was last down about 11%.</p><p><blockquote>然而，在制药商下调 Covid-19 疫苗收入预期后，Moderna 股价暴跌。sotck 最后下跌约 11%。</blockquote></p><p> And Roku was under pressure, falling more than 7% after the streaming platform&nbsp;reported disappointing third-quarter revenue.</p><p><blockquote>Roku也面临压力，在该流媒体平台公布令人失望的第三季度收入后，股价下跌超过 7%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103660582","content_text":"The S&P 500 rose for a sixth day in a row on Thursday after the equity benchmark closed at a record following commentary from the Federal Reserve in the prior session.\nThe S&P 500 gained 0.2%, while the Dow Jones Industrial Average was trading near the flatline. The tech-heavy Nasdaq Composite rose 0.2%. All three averages finished the prior session at record highs.\n\nTesla shares rose more than 1% to a new high.\nQualcomm led gainers on the S&P 500, rallying 15% following an earnings beat propelled by a 56% surge in smartphone chip sales. The company also provide strong guidance for the fourth quarter.\nMGM shares gained nearly 5% after the casino operator announcing plans to sell the operations of its Mirage casino in Las Vegas to another operator. The company noted that no sales agreement had been reached and it did not mention any possible buyers.\nFastly's stock rose 8% as its third quarter performance exceeded market expectations, and some lost users were observed to return.\nYet Moderna shares cratered after the drugmaker slashed its Covid-19 vaccine revenue outlook. The sotck was last down about 11%.\nAnd Roku was under pressure, falling more than 7% after the streaming platform reported disappointing third-quarter revenue.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3190,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848770429,"gmtCreate":1636033191368,"gmtModify":1636033247396,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Thank you!","listText":"Thank you!","text":"Thank you!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848770429","repostId":"2180020937","repostType":2,"isVote":1,"tweetType":1,"viewCount":3713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841087981,"gmtCreate":1635863439047,"gmtModify":1635863439229,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Ok time to buy?","listText":"Ok time to buy?","text":"Ok time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/841087981","repostId":"2180020937","repostType":2,"isVote":1,"tweetType":1,"viewCount":2944,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":858555766,"gmtCreate":1635089316480,"gmtModify":1635089316781,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Price to increase?","listText":"Price to increase?","text":"Price to increase?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/858555766","repostId":"1100055241","repostType":4,"repost":{"id":"1100055241","kind":"news","pubTimestamp":1635040192,"share":"https://www.laohunote.com/m/news/1100055241?lang=zh_CN&edition=full","pubTime":"2021-10-24 09:49","market":"us","language":"en","title":"Intel: Good Value Or Value Trap?<blockquote>英特尔：好价值还是价值陷阱？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100055241","media":"Seeking Alpha","summary":"Intel had a mixed earnings report that sent some investors running for the hills.The company beat earnings and actually raised guidance for 2021, but they signaled that supply chain issues remain and profitability in 2022 will be lower.After the sell-off, is Intel a good value or a value trap?The waters have been pretty rough for Intel Corp.  investors over the past few years.It seems like every time the sun comes out...there is another storm right around the corner.As highlighted on the earning","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Intel had a mixed earnings report&nbsp;that sent some investors running for the hills.</li>  <li>The company beat earnings and actually raised guidance for 2021, but they signaled that supply chain issues remain and profitability in 2022 will be lower.</li>  <li>After the sell-off, is Intel a good value or a value trap?</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c02609041d90c055d66b217f06706d28\" tg-width=\"1536\" tg-height=\"1022\" referrerpolicy=\"no-referrer\"><span>4kodiak/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>英特尔的财报喜忧参半，这让一些投资者望而却步。</li><li>该公司超出了盈利预期，实际上提高了 2021 年的指引，但他们表示供应链问题仍然存在，2022 年的盈利能力将较低。</li><li>抛售之后，英特尔是好价值还是价值陷阱？</li></ul><p class=\"t-img-caption\"><span>4kodiak/iStock 未通过 Getty Images 发布</span></p></blockquote></p><p> The waters have been pretty rough for Intel Corp. (INTC) investors over the past few years.</p><p><blockquote>过去几年，英特尔公司 (INTC) 投资者的处境相当艰难。</blockquote></p><p> It seems like every time the sun comes out...there is another storm right around the corner.</p><p><blockquote>好像每次太阳出来……...又一场暴风雨就在眼前。</blockquote></p><p> As highlighted on the earnings call last night, the next \"storm\" brewing for Intel is continued supply chain issues (component shortages in the PC business) and reduced near-term profitability from rising capital expenditure needs, which has sent the stock plummeting 11% this morning into the abyss.</p><p><blockquote>正如昨晚的财报看涨期权上所强调的那样，英特尔正在酝酿的下一个“风暴”是持续的供应链问题（个人电脑业务的零部件短缺）以及不断上升的资本支出需求导致近期盈利能力下降，这导致该股暴跌11%今天上午陷入深渊。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5bd612f6f25b6e86d7a72b38440d513f\" tg-width=\"640\" tg-height=\"449\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> However, buying the dips has actually been pretty lucrative in the recent past...if, of course, you were lucky enough to fade the rallies.</p><p><blockquote>然而，在最近的过去，逢低买入实际上是相当有利可图的……当然，如果你足够幸运，赶上了涨势。</blockquote></p><p> To be fair, Intel has had its fair share of challenges this year, despite general tailwinds in the industry (i.e., chip demand far outpacing supply).</p><p><blockquote>公平地说，尽管行业普遍有利（即芯片需求远远超过供应），但英特尔今年仍然面临着相当大的挑战。</blockquote></p><p> Specifically, Intel has had some well-documented manufacturing blunders that have caused major delays and loss of some market share...mainly to Advanced Micro Devices (AMD).</p><p><blockquote>具体来说，英特尔出现了一些有据可查的制造失误，导致了重大延误和部分市场份额的损失……主要是先进微设备公司（AMD）。</blockquote></p><p> This has triggered concern amongst investors that the stock may be a potential \"value trap\" now.</p><p><blockquote>这引发了投资者的担忧，即该股现在可能是一个潜在的“价值陷阱”。</blockquote></p><p> All that said, Intel is dedicated to spending $25 billion to $28 billion in 2022 and just broke ground on some new fabs.</p><p><blockquote>尽管如此，英特尔致力于在 2022 年斥资 250 亿至 280 亿美元，并且刚刚在一些新晶圆厂上破土动工。</blockquote></p><p> Personally, I don't think we are anywhere near peak demand for chips and I believe that Intel's fabrication capabilities are (and will continue to be) a huge advantage for the company for years to come.</p><p><blockquote>就我个人而言，我认为我们还没有接近芯片需求的峰值，我相信英特尔的制造能力是（并将继续是）该公司未来几年的巨大优势。</blockquote></p><p> So how can we structure a trade to take advantage of the upside potential in the stock (after this pullback) while also protecting ourselves from more near-term downside (if any)?</p><p><blockquote>那么，我们如何组织交易来利用股票的上行潜力（在这次回调之后），同时保护自己免受更多近期下行（如果有的话）的影响呢？</blockquote></p><p> <b>It's a perfect situation for a \"Triple Play\" trade!</b></p><p><blockquote><b>这是“三网融合”交易的完美局面!</b></blockquote></p><p> Intel Corp.</p><p><blockquote>英特尔公司</blockquote></p><p> <b>Sector/Industry:</b>Technology/Semiconductors</p><p><blockquote><b>行业/行业：</b>技术/半导体</blockquote></p><p>   Intel is the world's largest chipmaker. It designs and manufactures microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors. It was the prime proponent of Moore's Law for advances in semiconductor manufacturing, though the firm has recently faced manufacturing delays. While Intel's server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has stagnated. These include areas such as the Internet of Things, artificial intelligence, and automotive. Intel has been active on the merger and acquisitions front, acquiring Altera, Mobileye, and Habana Labs in order to bolster these efforts in non-PC arenas.  <i>Source: YCharts</i></p><p><blockquote>英特尔是全球最大的芯片制造商。它为全球个人电脑和数据中心市场设计和制造微处理器。英特尔是微处理器x86架构的先驱。它是半导体制造进步摩尔定律的主要支持者，尽管该公司最近面临制造延误。虽然英特尔的服务器处理器业务受益于向云的转变，但随着个人电脑市场停滞不前，该公司也在向新的邻近地区扩张。其中包括物联网、人工智能和汽车等领域。英特尔一直活跃在并购领域，收购了Altera、Mobileye和Habana Labs，以支持非PC领域的这些努力。<i>资料来源：YCharts</i></blockquote></p><p> <b>Valuation/Upside Potential</b></p><p><blockquote><b>估值/上行潜力</b></blockquote></p><p> Intel looks extremely attractive from a valuation standpoint and is currently trading at a decent discount to all of its long-term valuation metrics (hence the high Value Ranking of 10).</p><p><blockquote>从估值的角度来看，英特尔看起来极具吸引力，目前其所有长期估值指标的交易价格都有相当大的折扣（因此价值排名为 10）。</blockquote></p><p> Specifically, Intel is trading at a nice discount to its historical P/E multiple on a forward basis (10.6x 2021 earnings).<i>Note that the company actually just increased its guidance for fiscal 2021 earnings to $5.28 per share</i>.</p><p><blockquote>具体来说，英特尔的远期交易价格较其历史市盈率有不错的折扣（2021 年收益的 10.6 倍）。<i>请注意，该公司实际上刚刚将 2021 财年收益指引上调至每股 5.28 美元</i>.</blockquote></p><p> That said, as supply chain worries decrease over time, we definitely think there could be some room for margin expansion in the future.</p><p><blockquote>也就是说，随着供应链担忧随着时间的推移而减少，我们肯定认为未来可能还有一些利润扩张的空间。</blockquote></p><p> If you put just a 12x-14x multiple on consensus forward earnings of $5.28 per share for FYE 2021, that would equate to a $63.00- $73.00 stock price (representing 25%-45% upside from current levels).</p><p><blockquote>如果您将 FYE 2021 每股 5.28 美元的共识预期收益仅放置 12 倍-14 倍，则相当于 63.00-73.00 美元的股价（比当前水平上涨 25%-45%）。</blockquote></p><p> Although it probably won't get there in a straight line...</p><p><blockquote>虽然它可能不会直线到达那里……</blockquote></p><p> <b>\"Triple Play\" Trade Analysis</b></p><p><blockquote><b>“三网融合”贸易分析</b></blockquote></p><p> A \"Triple Play\" trade involves simultaneously selling a cash-secured put and a covered call on a stock that you own.</p><p><blockquote>“三重交易”涉及同时出售您拥有的股票的现金担保看跌期权和备兑看涨期权。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e3af23e0208929d569a6e62a12a9607\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Option Income Advisor</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：期权收入顾问</span></p></blockquote></p><p> Note that if you don't currently own INTC stock, you will want to buy it before you write the covered call.</p><p><blockquote>请注意，如果您目前没有 INTC 股票，您需要在撰写备兑看涨期权之前购买它。</blockquote></p><p> This trade will allow you to take advantage of the upside potential in the stock while also protecting some of the near-term downside (if any).</p><p><blockquote>这种交易将允许您利用股票的上行潜力，同时也保护一些近期的下行（如果有的话）。</blockquote></p><p> <b>Step 1: Sell Cash-Secured Puts (50% of position size)</b></p><p><blockquote><b>第 1 步：出售现金担保看跌期权（头寸规模的 50%）</b></blockquote></p><p></p><p> The first step of the Triple Play trade is to sell a cash-secured put on the stock for 50% of your target position size. For example, if you wanted to own 400 shares of INTC... you would sell 2 cash-secured put contract, which represents 200 shares of stock.</p><p><blockquote>三重交易的第一步是以目标头寸规模的 50% 出售现金担保的股票看跌期权。例如，如果你想拥有400股INTC股票……您将出售 2 份现金担保看跌期权合约，代表 200 股股票。</blockquote></p><p> The three main data points we look at when analyzing a cash-secured put trade are:</p><p><blockquote>在分析现金担保看跌期权交易时，我们关注的三个主要数据点是：</blockquote></p><p> <ul>  <li>Premium Yield % (or Average Monthly Yield %): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).<i>Assumes that the option is fully cash secured.</i></li>  <li>Margin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.</li>  <li>Delta: A good proxy for the probability that the put option will finish in-the-money.</li> </ul> <i>Note that there's always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.</i></p><p><blockquote><ul><li>权利金收益率%（或平均月收益率%）：假设期权到期时一文不值（价外），衡量预期资本回报率。<i>假设购股权完全以现金作抵押。</i></li><li>安全边际%：下行保护的衡量标准或标的股票可能下跌但仍允许您在期权交易中实现收支平衡的百分比。</li><li>Delta：看跌期权最终平价概率的一个很好的代表。</li></ul><i>请注意，保费收益率和安全边际之间总是存在负相关关系：给定行权月份的保费收益率越高，安全边际就越低。</i></blockquote></p><p> <i>Investors always should be honest with themselves about their risk tolerance. Selling CSPs can be adapted to suit your needs.</i></p><p><blockquote><i>投资者应该始终对自己的风险承受能力诚实。销售CSP可以根据您的需求进行调整。</i></blockquote></p><p> As discussed in the video, we like the $45.00-$50.00 range for INTC in the near term. So we like the following cash-secured put:</p><p><blockquote>正如视频中所讨论的，我们看好 INTC 短期内 45.00-50.00 美元的区间。因此，我们喜欢以下现金担保看跌期权：</blockquote></p><p> <i><b>INTC Nov 19th $47.50.00 Put (28 days until expiration)</b></i></p><p><blockquote><i><b>INTC 11 月 19 日 $47.50.00 看跌期权（距到期 28 天）</b></i></blockquote></p><p> <ul>  <li>Option Premium: ~$0.58 premium</li>  <li>Average Monthly Yield %: 1.3% (15.6% annualized)</li>  <li>Margin-of-Safety %: 4.2%</li>  <li>Delta: 28</li> </ul> <b>Step 2: Buy the Stock (50% of position size)</b></p><p><blockquote><ul><li>期权溢价：~0.58 美元溢价</li><li>平均月收益率%：1.3%（年化15.6%）</li><li>安全裕度%：4.2%</li><li>德尔塔：28</li></ul><b>第 2 步：购买股票（仓位规模的 50%）</b></blockquote></p><p> <i>Note: At the time of publication, INTC was trading at $49.60. If you already own the stock, you can skip to Step 3.</i></p><p><blockquote><i>注：在发布时，INTC的交易价格为49.60美元。如果您已经拥有该股票，您可以跳到第 3 步。</i></blockquote></p><p> The second step of the Triple Play is to buy the stock (50% of your target position size). For example, if you wanted to own 400 shares of INTC... you would buy 200 shares of stock.</p><p><blockquote>三重策略的第二步是购买股票（目标仓位规模的 50%）。例如，如果你想拥有400股INTC股票……你会买200股股票。</blockquote></p><p> <b>Step 3: Sell Covered Calls On Your Stock Position (*optional*)</b></p><p><blockquote><b>第 3 步：出售股票头寸上的备兑评级（*可选*）</b></blockquote></p><p> A covered call strategy will help generate some short-term income, maintain some upside exposure, and mitigate some downside risk.</p><p><blockquote>备兑看涨期权策略将有助于产生一些短期收入，维持一些上行风险，并减轻一些下行风险。</blockquote></p><p> With a covered call, you are agreeing to sell your stock at a higher price (your call option strike price) but you get to keep your call option premium either way.</p><p><blockquote>通过备兑看涨期权，您同意以更高的价格（您的看涨期权期权执行价格）出售您的股票，但无论哪种方式，您都可以保留您的看涨期权期权费。</blockquote></p><p> As discussed in the video, since we like the upside potential in the near term with INTC, you will want to give yourself some room for the stock to run.<b>So we would actually recommend waiting for the stock to trade a little higher before selling covered calls.</b></p><p><blockquote>正如视频中所讨论的，由于我们看好 INTC 短期内的上涨潜力，因此您需要给自己一些股票运行的空间。<b>因此，我们实际上建议等待股票交易稍微走高后再出售备兑评级。</b></blockquote></p><p> That said, if you wanted to execute the covered calls today, I would certainly consider taking less premium income to preserve more potential upside profit. For example, the $53.00 call would give you an extra 0.5% of income per month (6.0% annualized)...which would essentially triple your dividend yield on the stock!</p><p><blockquote>也就是说，如果您今天想执行承保评级，我肯定会考虑减少保费收入，以保留更多潜在的上行利润。例如，53.00美元的看涨期权会给你每月额外0.5%的收入（年化6.0%）...这基本上会让你的股票股息收益率增加两倍!</blockquote></p><p> <i><b>INTC Nov 19th $53.00 Call (28 days until expiration)</b></i></p><p><blockquote><i><b>INTC 11 月 19 日 $53.00 看涨期权（距到期 28 天）</b></i></blockquote></p><p> <ul>  <li>Option Premium: ~$0.25 premium</li>  <li>Average Monthly Yield %: 0.5% (6.0% annualized)</li>  <li>Upside Profit %: 7.4%</li>  <li>Delta: 15</li> </ul> <b>Conclusion</b></p><p><blockquote><ul><li>期权溢价：~0.25 美元溢价</li><li>平均月收益率%：0.5%（年化6.0%）</li><li>上行利润%：7.4%</li><li>德尔塔：15</li></ul><b>结论</b></blockquote></p><p> This Triple Play trade will allow you to take advantage of the upside potential in INTC stock while also giving you some downside cushion if shares trade lower in the near term. As the covered calls and cash-secured puts expire, you can rinse and repeat the Triple Play trade!</p><p><blockquote>这种三重交易将允许您利用 INTC 股票的上行潜力，同时如果股价在短期内走低，也可以为您提供一些下行缓冲。当备兑评级和现金担保看跌期权到期时，您可以清洗并重复三重交易!</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>Intel: Good Value Or Value Trap?<blockquote>英特尔：好价值还是价值陷阱？</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\">\nIntel: Good Value Or Value Trap?<blockquote>英特尔：好价值还是价值陷阱？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-10-24 09:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Intel had a mixed earnings report&nbsp;that sent some investors running for the hills.</li>  <li>The company beat earnings and actually raised guidance for 2021, but they signaled that supply chain issues remain and profitability in 2022 will be lower.</li>  <li>After the sell-off, is Intel a good value or a value trap?</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c02609041d90c055d66b217f06706d28\" tg-width=\"1536\" tg-height=\"1022\" referrerpolicy=\"no-referrer\"><span>4kodiak/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>英特尔的财报喜忧参半，这让一些投资者望而却步。</li><li>该公司超出了盈利预期，实际上提高了 2021 年的指引，但他们表示供应链问题仍然存在，2022 年的盈利能力将较低。</li><li>抛售之后，英特尔是好价值还是价值陷阱？</li></ul><p class=\"t-img-caption\"><span>4kodiak/iStock 未通过 Getty Images 发布</span></p></blockquote></p><p> The waters have been pretty rough for Intel Corp. (INTC) investors over the past few years.</p><p><blockquote>过去几年，英特尔公司 (INTC) 投资者的处境相当艰难。</blockquote></p><p> It seems like every time the sun comes out...there is another storm right around the corner.</p><p><blockquote>好像每次太阳出来……...又一场暴风雨就在眼前。</blockquote></p><p> As highlighted on the earnings call last night, the next \"storm\" brewing for Intel is continued supply chain issues (component shortages in the PC business) and reduced near-term profitability from rising capital expenditure needs, which has sent the stock plummeting 11% this morning into the abyss.</p><p><blockquote>正如昨晚的财报看涨期权上所强调的那样，英特尔正在酝酿的下一个“风暴”是持续的供应链问题（个人电脑业务的零部件短缺）以及不断上升的资本支出需求导致近期盈利能力下降，这导致该股暴跌11%今天上午陷入深渊。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5bd612f6f25b6e86d7a72b38440d513f\" tg-width=\"640\" tg-height=\"449\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> However, buying the dips has actually been pretty lucrative in the recent past...if, of course, you were lucky enough to fade the rallies.</p><p><blockquote>然而，在最近的过去，逢低买入实际上是相当有利可图的……当然，如果你足够幸运，赶上了涨势。</blockquote></p><p> To be fair, Intel has had its fair share of challenges this year, despite general tailwinds in the industry (i.e., chip demand far outpacing supply).</p><p><blockquote>公平地说，尽管行业普遍有利（即芯片需求远远超过供应），但英特尔今年仍然面临着相当大的挑战。</blockquote></p><p> Specifically, Intel has had some well-documented manufacturing blunders that have caused major delays and loss of some market share...mainly to Advanced Micro Devices (AMD).</p><p><blockquote>具体来说，英特尔出现了一些有据可查的制造失误，导致了重大延误和部分市场份额的损失……主要是先进微设备公司（AMD）。</blockquote></p><p> This has triggered concern amongst investors that the stock may be a potential \"value trap\" now.</p><p><blockquote>这引发了投资者的担忧，即该股现在可能是一个潜在的“价值陷阱”。</blockquote></p><p> All that said, Intel is dedicated to spending $25 billion to $28 billion in 2022 and just broke ground on some new fabs.</p><p><blockquote>尽管如此，英特尔致力于在 2022 年斥资 250 亿至 280 亿美元，并且刚刚在一些新晶圆厂上破土动工。</blockquote></p><p> Personally, I don't think we are anywhere near peak demand for chips and I believe that Intel's fabrication capabilities are (and will continue to be) a huge advantage for the company for years to come.</p><p><blockquote>就我个人而言，我认为我们还没有接近芯片需求的峰值，我相信英特尔的制造能力是（并将继续是）该公司未来几年的巨大优势。</blockquote></p><p> So how can we structure a trade to take advantage of the upside potential in the stock (after this pullback) while also protecting ourselves from more near-term downside (if any)?</p><p><blockquote>那么，我们如何组织交易来利用股票的上行潜力（在这次回调之后），同时保护自己免受更多近期下行（如果有的话）的影响呢？</blockquote></p><p> <b>It's a perfect situation for a \"Triple Play\" trade!</b></p><p><blockquote><b>这是“三网融合”交易的完美局面!</b></blockquote></p><p> Intel Corp.</p><p><blockquote>英特尔公司</blockquote></p><p> <b>Sector/Industry:</b>Technology/Semiconductors</p><p><blockquote><b>行业/行业：</b>技术/半导体</blockquote></p><p>   Intel is the world's largest chipmaker. It designs and manufactures microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors. It was the prime proponent of Moore's Law for advances in semiconductor manufacturing, though the firm has recently faced manufacturing delays. While Intel's server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has stagnated. These include areas such as the Internet of Things, artificial intelligence, and automotive. Intel has been active on the merger and acquisitions front, acquiring Altera, Mobileye, and Habana Labs in order to bolster these efforts in non-PC arenas.  <i>Source: YCharts</i></p><p><blockquote>英特尔是全球最大的芯片制造商。它为全球个人电脑和数据中心市场设计和制造微处理器。英特尔是微处理器x86架构的先驱。它是半导体制造进步摩尔定律的主要支持者，尽管该公司最近面临制造延误。虽然英特尔的服务器处理器业务受益于向云的转变，但随着个人电脑市场停滞不前，该公司也在向新的邻近地区扩张。其中包括物联网、人工智能和汽车等领域。英特尔一直活跃在并购领域，收购了Altera、Mobileye和Habana Labs，以支持非PC领域的这些努力。<i>资料来源：YCharts</i></blockquote></p><p> <b>Valuation/Upside Potential</b></p><p><blockquote><b>估值/上行潜力</b></blockquote></p><p> Intel looks extremely attractive from a valuation standpoint and is currently trading at a decent discount to all of its long-term valuation metrics (hence the high Value Ranking of 10).</p><p><blockquote>从估值的角度来看，英特尔看起来极具吸引力，目前其所有长期估值指标的交易价格都有相当大的折扣（因此价值排名为 10）。</blockquote></p><p> Specifically, Intel is trading at a nice discount to its historical P/E multiple on a forward basis (10.6x 2021 earnings).<i>Note that the company actually just increased its guidance for fiscal 2021 earnings to $5.28 per share</i>.</p><p><blockquote>具体来说，英特尔的远期交易价格较其历史市盈率有不错的折扣（2021 年收益的 10.6 倍）。<i>请注意，该公司实际上刚刚将 2021 财年收益指引上调至每股 5.28 美元</i>.</blockquote></p><p> That said, as supply chain worries decrease over time, we definitely think there could be some room for margin expansion in the future.</p><p><blockquote>也就是说，随着供应链担忧随着时间的推移而减少，我们肯定认为未来可能还有一些利润扩张的空间。</blockquote></p><p> If you put just a 12x-14x multiple on consensus forward earnings of $5.28 per share for FYE 2021, that would equate to a $63.00- $73.00 stock price (representing 25%-45% upside from current levels).</p><p><blockquote>如果您将 FYE 2021 每股 5.28 美元的共识预期收益仅放置 12 倍-14 倍，则相当于 63.00-73.00 美元的股价（比当前水平上涨 25%-45%）。</blockquote></p><p> Although it probably won't get there in a straight line...</p><p><blockquote>虽然它可能不会直线到达那里……</blockquote></p><p> <b>\"Triple Play\" Trade Analysis</b></p><p><blockquote><b>“三网融合”贸易分析</b></blockquote></p><p> A \"Triple Play\" trade involves simultaneously selling a cash-secured put and a covered call on a stock that you own.</p><p><blockquote>“三重交易”涉及同时出售您拥有的股票的现金担保看跌期权和备兑看涨期权。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e3af23e0208929d569a6e62a12a9607\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Option Income Advisor</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：期权收入顾问</span></p></blockquote></p><p> Note that if you don't currently own INTC stock, you will want to buy it before you write the covered call.</p><p><blockquote>请注意，如果您目前没有 INTC 股票，您需要在撰写备兑看涨期权之前购买它。</blockquote></p><p> This trade will allow you to take advantage of the upside potential in the stock while also protecting some of the near-term downside (if any).</p><p><blockquote>这种交易将允许您利用股票的上行潜力，同时也保护一些近期的下行（如果有的话）。</blockquote></p><p> <b>Step 1: Sell Cash-Secured Puts (50% of position size)</b></p><p><blockquote><b>第 1 步：出售现金担保看跌期权（头寸规模的 50%）</b></blockquote></p><p></p><p> The first step of the Triple Play trade is to sell a cash-secured put on the stock for 50% of your target position size. For example, if you wanted to own 400 shares of INTC... you would sell 2 cash-secured put contract, which represents 200 shares of stock.</p><p><blockquote>三重交易的第一步是以目标头寸规模的 50% 出售现金担保的股票看跌期权。例如，如果你想拥有400股INTC股票……您将出售 2 份现金担保看跌期权合约，代表 200 股股票。</blockquote></p><p> The three main data points we look at when analyzing a cash-secured put trade are:</p><p><blockquote>在分析现金担保看跌期权交易时，我们关注的三个主要数据点是：</blockquote></p><p> <ul>  <li>Premium Yield % (or Average Monthly Yield %): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).<i>Assumes that the option is fully cash secured.</i></li>  <li>Margin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.</li>  <li>Delta: A good proxy for the probability that the put option will finish in-the-money.</li> </ul> <i>Note that there's always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.</i></p><p><blockquote><ul><li>权利金收益率%（或平均月收益率%）：假设期权到期时一文不值（价外），衡量预期资本回报率。<i>假设购股权完全以现金作抵押。</i></li><li>安全边际%：下行保护的衡量标准或标的股票可能下跌但仍允许您在期权交易中实现收支平衡的百分比。</li><li>Delta：看跌期权最终平价概率的一个很好的代表。</li></ul><i>请注意，保费收益率和安全边际之间总是存在负相关关系：给定行权月份的保费收益率越高，安全边际就越低。</i></blockquote></p><p> <i>Investors always should be honest with themselves about their risk tolerance. Selling CSPs can be adapted to suit your needs.</i></p><p><blockquote><i>投资者应该始终对自己的风险承受能力诚实。销售CSP可以根据您的需求进行调整。</i></blockquote></p><p> As discussed in the video, we like the $45.00-$50.00 range for INTC in the near term. So we like the following cash-secured put:</p><p><blockquote>正如视频中所讨论的，我们看好 INTC 短期内 45.00-50.00 美元的区间。因此，我们喜欢以下现金担保看跌期权：</blockquote></p><p> <i><b>INTC Nov 19th $47.50.00 Put (28 days until expiration)</b></i></p><p><blockquote><i><b>INTC 11 月 19 日 $47.50.00 看跌期权（距到期 28 天）</b></i></blockquote></p><p> <ul>  <li>Option Premium: ~$0.58 premium</li>  <li>Average Monthly Yield %: 1.3% (15.6% annualized)</li>  <li>Margin-of-Safety %: 4.2%</li>  <li>Delta: 28</li> </ul> <b>Step 2: Buy the Stock (50% of position size)</b></p><p><blockquote><ul><li>期权溢价：~0.58 美元溢价</li><li>平均月收益率%：1.3%（年化15.6%）</li><li>安全裕度%：4.2%</li><li>德尔塔：28</li></ul><b>第 2 步：购买股票（仓位规模的 50%）</b></blockquote></p><p> <i>Note: At the time of publication, INTC was trading at $49.60. If you already own the stock, you can skip to Step 3.</i></p><p><blockquote><i>注：在发布时，INTC的交易价格为49.60美元。如果您已经拥有该股票，您可以跳到第 3 步。</i></blockquote></p><p> The second step of the Triple Play is to buy the stock (50% of your target position size). For example, if you wanted to own 400 shares of INTC... you would buy 200 shares of stock.</p><p><blockquote>三重策略的第二步是购买股票（目标仓位规模的 50%）。例如，如果你想拥有400股INTC股票……你会买200股股票。</blockquote></p><p> <b>Step 3: Sell Covered Calls On Your Stock Position (*optional*)</b></p><p><blockquote><b>第 3 步：出售股票头寸上的备兑评级（*可选*）</b></blockquote></p><p> A covered call strategy will help generate some short-term income, maintain some upside exposure, and mitigate some downside risk.</p><p><blockquote>备兑看涨期权策略将有助于产生一些短期收入，维持一些上行风险，并减轻一些下行风险。</blockquote></p><p> With a covered call, you are agreeing to sell your stock at a higher price (your call option strike price) but you get to keep your call option premium either way.</p><p><blockquote>通过备兑看涨期权，您同意以更高的价格（您的看涨期权期权执行价格）出售您的股票，但无论哪种方式，您都可以保留您的看涨期权期权费。</blockquote></p><p> As discussed in the video, since we like the upside potential in the near term with INTC, you will want to give yourself some room for the stock to run.<b>So we would actually recommend waiting for the stock to trade a little higher before selling covered calls.</b></p><p><blockquote>正如视频中所讨论的，由于我们看好 INTC 短期内的上涨潜力，因此您需要给自己一些股票运行的空间。<b>因此，我们实际上建议等待股票交易稍微走高后再出售备兑评级。</b></blockquote></p><p> That said, if you wanted to execute the covered calls today, I would certainly consider taking less premium income to preserve more potential upside profit. For example, the $53.00 call would give you an extra 0.5% of income per month (6.0% annualized)...which would essentially triple your dividend yield on the stock!</p><p><blockquote>也就是说，如果您今天想执行承保评级，我肯定会考虑减少保费收入，以保留更多潜在的上行利润。例如，53.00美元的看涨期权会给你每月额外0.5%的收入（年化6.0%）...这基本上会让你的股票股息收益率增加两倍!</blockquote></p><p> <i><b>INTC Nov 19th $53.00 Call (28 days until expiration)</b></i></p><p><blockquote><i><b>INTC 11 月 19 日 $53.00 看涨期权（距到期 28 天）</b></i></blockquote></p><p> <ul>  <li>Option Premium: ~$0.25 premium</li>  <li>Average Monthly Yield %: 0.5% (6.0% annualized)</li>  <li>Upside Profit %: 7.4%</li>  <li>Delta: 15</li> </ul> <b>Conclusion</b></p><p><blockquote><ul><li>期权溢价：~0.25 美元溢价</li><li>平均月收益率%：0.5%（年化6.0%）</li><li>上行利润%：7.4%</li><li>德尔塔：15</li></ul><b>结论</b></blockquote></p><p> This Triple Play trade will allow you to take advantage of the upside potential in INTC stock while also giving you some downside cushion if shares trade lower in the near term. As the covered calls and cash-secured puts expire, you can rinse and repeat the Triple Play trade!</p><p><blockquote>这种三重交易将允许您利用 INTC 股票的上行潜力，同时如果股价在短期内走低，也可以为您提供一些下行缓冲。当备兑评级和现金担保看跌期权到期时，您可以清洗并重复三重交易!</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4461530-intel-intc-stock-good-value-or-value-trap\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔"},"source_url":"https://seekingalpha.com/article/4461530-intel-intc-stock-good-value-or-value-trap","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100055241","content_text":"Summary\n\nIntel had a mixed earnings report that sent some investors running for the hills.\nThe company beat earnings and actually raised guidance for 2021, but they signaled that supply chain issues remain and profitability in 2022 will be lower.\nAfter the sell-off, is Intel a good value or a value trap?\n\n4kodiak/iStock Unreleased via Getty Images\nThe waters have been pretty rough for Intel Corp. (INTC) investors over the past few years.\nIt seems like every time the sun comes out...there is another storm right around the corner.\nAs highlighted on the earnings call last night, the next \"storm\" brewing for Intel is continued supply chain issues (component shortages in the PC business) and reduced near-term profitability from rising capital expenditure needs, which has sent the stock plummeting 11% this morning into the abyss.\n\nHowever, buying the dips has actually been pretty lucrative in the recent past...if, of course, you were lucky enough to fade the rallies.\nTo be fair, Intel has had its fair share of challenges this year, despite general tailwinds in the industry (i.e., chip demand far outpacing supply).\nSpecifically, Intel has had some well-documented manufacturing blunders that have caused major delays and loss of some market share...mainly to Advanced Micro Devices (AMD).\nThis has triggered concern amongst investors that the stock may be a potential \"value trap\" now.\nAll that said, Intel is dedicated to spending $25 billion to $28 billion in 2022 and just broke ground on some new fabs.\nPersonally, I don't think we are anywhere near peak demand for chips and I believe that Intel's fabrication capabilities are (and will continue to be) a huge advantage for the company for years to come.\nSo how can we structure a trade to take advantage of the upside potential in the stock (after this pullback) while also protecting ourselves from more near-term downside (if any)?\nIt's a perfect situation for a \"Triple Play\" trade!\nIntel Corp.\nSector/Industry:Technology/Semiconductors\n\n Intel is the world's largest chipmaker. It designs and manufactures microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors. It was the prime proponent of Moore's Law for advances in semiconductor manufacturing, though the firm has recently faced manufacturing delays. While Intel's server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has stagnated. These include areas such as the Internet of Things, artificial intelligence, and automotive. Intel has been active on the merger and acquisitions front, acquiring Altera, Mobileye, and Habana Labs in order to bolster these efforts in non-PC arenas.\n\nSource: YCharts\nValuation/Upside Potential\nIntel looks extremely attractive from a valuation standpoint and is currently trading at a decent discount to all of its long-term valuation metrics (hence the high Value Ranking of 10).\nSpecifically, Intel is trading at a nice discount to its historical P/E multiple on a forward basis (10.6x 2021 earnings).Note that the company actually just increased its guidance for fiscal 2021 earnings to $5.28 per share.\nThat said, as supply chain worries decrease over time, we definitely think there could be some room for margin expansion in the future.\nIf you put just a 12x-14x multiple on consensus forward earnings of $5.28 per share for FYE 2021, that would equate to a $63.00- $73.00 stock price (representing 25%-45% upside from current levels).\nAlthough it probably won't get there in a straight line...\n\"Triple Play\" Trade Analysis\nA \"Triple Play\" trade involves simultaneously selling a cash-secured put and a covered call on a stock that you own.\nSource: Option Income Advisor\nNote that if you don't currently own INTC stock, you will want to buy it before you write the covered call.\nThis trade will allow you to take advantage of the upside potential in the stock while also protecting some of the near-term downside (if any).\nStep 1: Sell Cash-Secured Puts (50% of position size)\nThe first step of the Triple Play trade is to sell a cash-secured put on the stock for 50% of your target position size. For example, if you wanted to own 400 shares of INTC... you would sell 2 cash-secured put contract, which represents 200 shares of stock.\nThe three main data points we look at when analyzing a cash-secured put trade are:\n\nPremium Yield % (or Average Monthly Yield %): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).Assumes that the option is fully cash secured.\nMargin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.\nDelta: A good proxy for the probability that the put option will finish in-the-money.\n\nNote that there's always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.\nInvestors always should be honest with themselves about their risk tolerance. Selling CSPs can be adapted to suit your needs.\nAs discussed in the video, we like the $45.00-$50.00 range for INTC in the near term. So we like the following cash-secured put:\nINTC Nov 19th $47.50.00 Put (28 days until expiration)\n\nOption Premium: ~$0.58 premium\nAverage Monthly Yield %: 1.3% (15.6% annualized)\nMargin-of-Safety %: 4.2%\nDelta: 28\n\nStep 2: Buy the Stock (50% of position size)\nNote: At the time of publication, INTC was trading at $49.60. If you already own the stock, you can skip to Step 3.\nThe second step of the Triple Play is to buy the stock (50% of your target position size). For example, if you wanted to own 400 shares of INTC... you would buy 200 shares of stock.\nStep 3: Sell Covered Calls On Your Stock Position (*optional*)\nA covered call strategy will help generate some short-term income, maintain some upside exposure, and mitigate some downside risk.\nWith a covered call, you are agreeing to sell your stock at a higher price (your call option strike price) but you get to keep your call option premium either way.\nAs discussed in the video, since we like the upside potential in the near term with INTC, you will want to give yourself some room for the stock to run.So we would actually recommend waiting for the stock to trade a little higher before selling covered calls.\nThat said, if you wanted to execute the covered calls today, I would certainly consider taking less premium income to preserve more potential upside profit. For example, the $53.00 call would give you an extra 0.5% of income per month (6.0% annualized)...which would essentially triple your dividend yield on the stock!\nINTC Nov 19th $53.00 Call (28 days until expiration)\n\nOption Premium: ~$0.25 premium\nAverage Monthly Yield %: 0.5% (6.0% annualized)\nUpside Profit %: 7.4%\nDelta: 15\n\nConclusion\nThis Triple Play trade will allow you to take advantage of the upside potential in INTC stock while also giving you some downside cushion if shares trade lower in the near term. As the covered calls and cash-secured puts expire, you can rinse and repeat the Triple Play trade!","news_type":1,"symbols_score_info":{"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":3040,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825070481,"gmtCreate":1634182975464,"gmtModify":1634182975596,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Time to buy Inovio?","listText":"Time to buy Inovio?","text":"Time to buy Inovio?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/825070481","repostId":"2175518141","repostType":4,"isVote":1,"tweetType":1,"viewCount":3526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":867702455,"gmtCreate":1633312056366,"gmtModify":1633312165628,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Time to buy or wait?","listText":"Time to buy or wait?","text":"Time to buy or wait?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/867702455","repostId":"1114921615","repostType":4,"repost":{"id":"1114921615","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1633304045,"share":"https://www.laohunote.com/m/news/1114921615?lang=zh_CN&edition=full","pubTime":"2021-10-04 07:34","market":"us","language":"en","title":"Top Wall Street analysts picks these 5 stocks for the fourth quarter<blockquote>华尔街顶级分析师为第四季度挑选这 5 只股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114921615","media":"Tiger Newspress","summary":"TipRanks is a financial data aggregator that uses its dynamic system like a radar, picking up what W","content":"<p>TipRanks is a financial data aggregator that uses its dynamic system like a radar, picking up what Wall Street’s analysts have to say about the current market atmosphere. The state of capital markets remains a tangled world of information for even savvy investors, but by using TipRanks’ unique tools, one can gain a clearer perspective on what the professionals are saying.</p><p><blockquote>TipRanks 是一家金融数据聚合器，它像雷达一样使用其动态系统，捕捉华尔街分析师对当前市场氛围的看法。即使对于精明的投资者来说，资本市场的现状仍然是一个错综复杂的信息世界，但通过使用 TipRanks 的独特工具，人们可以更清楚地了解专业人士在说什么。</blockquote></p><p> Let’s take a look at what their hypotheses are on these five stocks.</p><p><blockquote>让我们来看看他们对这五只股票的假设。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NKE\">耐克</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/NKE\">耐克</a></b></blockquote></p><p> If viewed correctly, short-term concerns have the potential to be transformed into long-term gains.</p><p><blockquote>如果正确看待，短期担忧有可能转化为长期收益。</blockquote></p><p> Nike(<b>NKE</b>) recently reported earnings, and while it showed increases in demand and strong underlying business fundamentals, the firm did admit to struggling with persisting supply chain issues. Sam Poser of Williams Trading, however, sees this as the time to open a bullish position. (SeeNike stock chartson TipRanks)</p><p><blockquote>耐克（<b>恩克</b>）最近公布了收益，虽然显示需求增加和强劲的潜在业务基本面，但该公司确实承认正在与持续存在的供应链问题作斗争。然而，Williams Trading 的 Sam Poser 认为现在是开立看涨头寸的时候了。（SeeNike stock chartson TipRanks）</blockquote></p><p> Poser rated the stock a Buy, and declared a price target of $196.</p><p><blockquote>Poser 将该股评级为买入，并宣布目标价为 196 美元。</blockquote></p><p> The five-star analyst asserted that despite the supply chain challenges, “the global health of the Nike brand has never been better.” He perceives the headwinds to be of short-lived concern for investors and the company, and expects Nike to outperform its peers in both the near and distant future.</p><p><blockquote>这位五星级分析师断言，尽管面临供应链挑战，“耐克品牌的全球健康状况从未如此之好”。他认为逆风对投资者和公司来说是短暂的，并预计耐克在不久的将来和遥远的将来都将跑赢同行。</blockquote></p><p> In its earnings call, Nike lowered its guidance expectations, but Poser calculates that the apparel retailer is on track to meet 2025 targets.</p><p><blockquote>在财报看涨期权中，耐克降低了指引预期，但 Poser 计算出这家服装零售商有望实现 2025 年的目标。</blockquote></p><p> The Covid-19 pandemic had initially dragged down brick and mortar store sales, but this metric has nearly rebounded to the status it held before the government-mandated lockdowns. In North America, in-store sales increased more than 50% quarter-over-quarter, indicating a “robust demand” for Nike merchandise.</p><p><blockquote>Covid-19 大流行最初拖累了实体店的销售额，但这一指标几乎已经反弹到政府强制封锁之前的水平。在北美，店内销售额环比增长超过 50%，表明对耐克商品的 “需求强劲”。</blockquote></p><p> In a pool of over 7,000 expert analysts, Poser is rated by TipRanks as No. 249. His stock ratings have earned him a success rate of 55%, and brought him an average return of 24.8%.</p><p><blockquote>在超过 7,000 名专家分析师中，Poser 被 TipRanks 评为第 249 位。他的股票评级为他赢得了55%的成功率，并为他带来了24.8%的平均回报率。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/OTMO\">Otonomo Technologies Ltd</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/OTMO\">自主科技有限公司</a></b></blockquote></p><p> For SaaS companies, big data is the name of the game.</p><p><blockquote>对于SaaS公司来说，大数据就是游戏的名字。</blockquote></p><p> The power of processing billions of data points from millions of vehicles on the road has provided Otonomo Technologies (<b>OTMO</b>) with a promising business model. The data analytics firm recently went public, and analysts now see even more upside and opportunity for monetization of its product offerings. (SeeOtonomo stock analysison TipRanks)</p><p><blockquote>处理来自道路上数百万辆车的数十亿个数据点的能力提供了自主技术（<b>奥特莫</b>）具有有前途的商业模式。这家数据分析公司最近上市，分析师现在看到了其产品货币化的更多优势和机会。（参见自主股票分析提示排名）</blockquote></p><p> One of those bullish analysts is Jack Andrews of Needham &amp; Co., who wrote thatOtonomooperates a “linchpin technology” that unlocks revenue for original equipment manufacturer and connected car investments.” From his calculations, the stock provides a “favorable risk/reward setup with material upside,” if it is successful in capturing its full potential.</p><p><blockquote>Needham &amp; Co. 的杰克-安德鲁斯（Jack Andrews）就是这些看涨分析师之一，他写道，Totonomo 运营着一项 “关键技术”，可以为原始设备制造商和联网汽车投资带来收入。根据他的计算，如果该股能够成功发挥其全部潜力，它将提供 “有利的风险/回报设置，并具有重大上涨空间”。</blockquote></p><p> Andrews initiated a Buy rating on the stock, and determined a 12-month price target of $10 per share.</p><p><blockquote>安德鲁斯对该股给予买入评级，并将 12 个月目标价定为每股 10 美元。</blockquote></p><p> The top analyst explained that the company has created a bridge between two promising sectors: automotive data and its analytics. As connected car prevalence increases, so do the number of possible applications for the data they generate. He noted that beyond major car manufacturers, new revenue opportunities could arise from insurance companies and concierge platforms incorporating OTMO’s data.</p><p><blockquote>这位顶级分析师解释说，该公司已经在两个有前途的领域之间架起了一座桥梁：汽车数据及其分析。随着联网汽车普及率的增加，它们生成的数据的可能应用数量也在增加。他指出，除了大型汽车制造商，保险公司和包含 OTMO 数据的礼宾平台也可能带来新的收入机会。</blockquote></p><p> In addition to enterprise players, Otonomo provides intelligence for municipal governments about how to design safer and more efficient urban plans.</p><p><blockquote>除了企业参与者，Otonomo还为市政府提供如何设计更安全、更高效的城市规划的情报。</blockquote></p><p> One concern for the firm is a potential regulatory shift toward consumer privacy of the information shared by the vehicles, which would disrupt OTMO’s standards of data.</p><p><blockquote>该公司担心的一个问题是，监管机构可能会转向保护车辆共享信息的消费者隐私，这将扰乱 OTMO 的数据标准。</blockquote></p><p> Out of more than 7,000 analysts on TipRanks, Andrews ranks as No.158. Of his ratings, he succeeded 63% of the time, and returned an average of 25.3% on each one.</p><p><blockquote>在 TipRanks 的 7,000 多名分析师中，安德鲁斯排名第 158 位。在他的收视率中，他有63%的时间成功，平均每次收视率为25.3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/VAC\">Marriott Vacations Worldwide</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/VAC\">万豪度假全球</a></b></blockquote></p><p> The Covid-19 pandemic has proved a formidable foe for the travel and leisure industry. After repeated government mandated shutdowns, the delta variant arrived late spring and caused more disruption. Marriot Vacations Worldwide (<b>VAC</b>) survived the storm, and is remaining relevant even in the current dynamic climate.</p><p><blockquote>事实证明，新冠肺炎疫情是旅游和休闲行业的可怕敌人。在政府多次强制关闭后，德尔塔变异毒株在晚春到来，造成了更多的破坏。万豪度假全球（<b>真空</b>)在风暴中幸存下来，即使在当前动态气候下仍然具有相关性。</blockquote></p><p> David Katz of Jefferies asserted that the company is poised for upside, and is one of his top stock picks for the leisure industry. (SeeMarriot Vacations insider trading activityon TipRanks)</p><p><blockquote>杰富瑞 (Jefferies) 的大卫·卡茨 (David Katz) 断言，该公司已做好上涨的准备，并且是他对休闲行业的首选股票之一。（参见万豪度假内幕交易活动提示排名）</blockquote></p><p> Katz rated the stock a Buy, and assigned a 12-month price target of $190.</p><p><blockquote>卡茨将该股评级为买入，并将 12 个月目标价定为 190 美元。</blockquote></p><p> This bullish target takes into account headwinds from Covid-19, as well as ongoing wildfires across the western U.S. He expects the built-up consumer demand for vacations and timeshares to lead the company toward recovering from its pandemic-induced losses.</p><p><blockquote>这一看涨目标考虑到了 Covid-19 的不利因素以及美国西部持续发生的野火。他预计，消费者对假期和分时度假的不断增长的需求将引导该公司从大流行造成的损失中恢复过来。</blockquote></p><p></p><p> While the entire industry is set to experience this strong demand, Katz believes thatVAC’s links to Marriot International (<b>MAR</b>) and its brand awareness set it apart from the competition. Additionally, this connection gives VAC “access to the largest loyalty program in hospitality,” providing the firm with a massive installed base.</p><p><blockquote>虽然整个行业都将经历这种强劲的需求，但卡茨认为，Vac 与万豪国际酒店的联系（<b>海</b>）及其品牌知名度使其在竞争中脱颖而出。此外，这种联系还能让 VAC “接触到酒店业最大的忠诚度计划”，为公司提供了庞大的安装基础。</blockquote></p><p> On TipRanks, Katz comes in at No. 418 out of more than 7,000 financial analysts. From his ratings, he was successful 62% of the time, and brought in an average return of 21% per rating.</p><p><blockquote>在 TipRanks 上，卡茨在 7,000 多名金融分析师中排名第 418 位。从他的评级来看，他有62%的时间是成功的，每个评级的平均回报率为21%。</blockquote></p><p> <b>Dell Technologies<a href=\"https://laohu8.com/S/DELL\">$(DELL)$</a> </b></p><p><blockquote><b>戴尔科技<a href=\"https://laohu8.com/S/DELL\">$(戴尔)$</a></b></blockquote></p><p> Dell Technologies(<b>DELL</b>) recently held its pivotal investor day, and laid out a clear roadmap to increasing free cash flow, market share, and general direction for the company in the long-term. Share repurchasing schemes, a focus on premium consumer products, and potential upside in infrastructure projects, all point the multinational tech firm toward an eventual higher valuation.</p><p><blockquote>戴尔科技（<b>戴尔</b>）最近举行了关键投资者日，并制定了明确的路线图，以增加公司的自由现金流、市场份额和长期总体方向。股票回购计划、对高端消费品的关注以及基础设施项目的潜在上涨空间，都指向这家跨国科技公司最终的估值更高。</blockquote></p><p> Amit Daryanani of Evercore ISI reported on the conference, bullishly reiterating a Buy rating and a 12-month $114 price target.</p><p><blockquote>Evercore ISI 的 Amit Daryanani 在会议上进行了报道，乐观地重申了买入评级和 12 个月 114 美元的目标价。</blockquote></p><p> Daryanani explained that Dell announced a share repurchase program worth $5 billion in stock, as well as a quarterly dividend. In an effort to increase free cash flow, the tech company will keep its investments in mergers and acquisitions at a less significant profile. The analyst said that the conference sentiment was on-par to above his expectations. (SeeDell Technologies risk factorson TipRanks)</p><p><blockquote>Daryanani解释说，戴尔宣布了一项价值50亿美元股票的股票回购计划，以及季度股息。为了增加自由现金流，这家科技公司将把并购投资保持在较低的水平。这位分析师表示，会议情绪符合他的预期。（SeeDell Technologies 风险因素 TipRanks）</blockquote></p><p> Dell’s infrastructure and cloud-based storage facing businesses could see “substantial opportunity” in the long-term, such as in remote access solutions and telecommunications software. The Covid-19 pandemic and the work-from-home shift bolstered trends toward PCs and gaming hardware. Dell understands this and intends to focus on more premium products for everyday consumers.</p><p><blockquote>从长远来看，面向戴尔基础设施和云存储的企业可能会看到 “巨大的机遇”，例如在远程访问解决方案和电信软件方面。新冠肺炎疫情和在家工作的转变推动了个人电脑和游戏硬件的趋势。戴尔明白这一点，并打算专注于面向日常消费者的更多优质产品。</blockquote></p><p> Ranking No. 355 out of over 7,000 analysts on TipRanks, Daryanani maintains a 63% success rate on his ratings. His stock picks currently average out to a 16.6% return.</p><p><blockquote>Daryanani在TipRanks的7000多名分析师中排名第355位，他的评级成功率为63%。他选择的股票目前的平均回报率为 16.6%。</blockquote></p><p> <b>Activision Blizzard</b><b><a href=\"https://laohu8.com/S/ATVI\">$(ATVI)$</a> </b></p><p><blockquote><b>动视暴雪</b><b><a href=\"https://laohu8.com/S/ATVI\">$(ATVI)$</a></b></blockquote></p><p> While individuals were under pandemic-induced lockdowns, many people picked up playing video games as a way to pass the time. The companies that produce these game franchises benefitted from the trend, andActivision Blizzard(<b>ATVI</b>) was no outlier. Now, the firm has a “wave of content” headed to consumers’ consoles, and analysts are bullish on the strong pipeline.</p><p><blockquote>当个人处于疫情引发的封锁状态时，许多人开始玩电子游戏作为打发时间的一种方式。制作这些游戏系列的公司受益于这一趋势，动视暴雪（<b>阿特维</b>）不是异常值。现在，该公司迎来了一波面向消费者游戏机的 “内容浪潮 ”，分析师们看好这一强大的产品线。</blockquote></p><p> Andrew Uerkwitz of Jefferies delineated his bullish hypothesis on the stock, stating that Activision has an “underappreciated portfolio of high-quality content in the fastest growing segment in entertainment.”</p><p><blockquote>Jefferies 的 Andrew Uerkwitz 阐述了他对该股的看涨假设，称动视暴雪 “在增长最快的娱乐领域拥有被低估的高质量内容组合”。</blockquote></p><p> Uerkwitz declared the stock a Buy, and assigned a 12-month price target of $120 per share.</p><p><blockquote>Uerkwitz 宣布该股买入，并将 12 个月目标价定为每股 120 美元。</blockquote></p><p> After running several possible scenarios regarding release dates and consumer reception for its upcoming titles, the five-star analyst still finds it hard to imagine further downside, even in bearish cases. Uerkwitz calculated a situation wherein a particular title underperformed, and Activision Blizzard still exceeded estimates for FY2021 earnings per share. (SeeActivision Blizzard’s earnings historyon TipRanks)</p><p><blockquote>在对即将推出的游戏的发行日期和消费者接受度进行了几种可能的情况后，这位五星级分析师仍然发现很难想象进一步的负面影响，即使是在看跌的情况下。Uerkwitz 计算了一种情况，其中特定游戏表现不佳，而动视暴雪 2021 财年每股收益仍超过预期。（请参阅动视暴雪的盈利历史和提示排名）</blockquote></p><p> The company maintains strong gross margins, which are providing it with significant operating leverage. Elaborating on Activision’s options, Uerkwitz added that it has tools for growth, such as share buyback schemes and investments in content, and can explore inorganic expansion through mergers and acquisitions.</p><p><blockquote>该公司保持强劲的毛利率，这为其提供了显着的运营杠杆。在阐述动视的选择时，Uerkwitz 补充说，动视拥有增长工具，如股票回购计划和内容投资，并可以通过并购探索无机扩张。</blockquote></p><p> Activision recently came to a settlement with the Equal Employment Opportunity Commission regarding a sexual harassment case. In his opinion, Uerkwitz sees the $18 million deal with the U.S. federal agency as a speed bump in an otherwise smooth year. The settlement removes concerns over worse regulatory penalties, although a less-than-stellar work environment could prove as downside if talent is to be driven away.</p><p><blockquote>动视最近就一起性骚扰案件与平等就业机会委员会达成和解。在他看来，Uerkwitz 认为与美国联邦机构达成的 1800 万美元协议是平稳的一年中的一个减速带。该和解消除了对更严重监管处罚的担忧，尽管如果要赶走人才，不太理想的工作环境可能会被证明是不利的。</blockquote></p><p> On TipRanks, Uerkwitz maintains a rank of No. 122 out of over 7,000 expert analysts. His success rate stands at 62%, and per rating he averages a return of 27.7%.</p><p><blockquote>在TipRanks上，Uerkwitz在7000多名专家分析师中排名第122位。他的成功率为62%，每次评级他的平均回报率为27.7%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Top Wall Street analysts picks these 5 stocks for the fourth quarter<blockquote>华尔街顶级分析师为第四季度挑选这 5 只股票</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\">\nTop Wall Street analysts picks these 5 stocks for the fourth quarter<blockquote>华尔街顶级分析师为第四季度挑选这 5 只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-04 07:34</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>TipRanks is a financial data aggregator that uses its dynamic system like a radar, picking up what Wall Street’s analysts have to say about the current market atmosphere. The state of capital markets remains a tangled world of information for even savvy investors, but by using TipRanks’ unique tools, one can gain a clearer perspective on what the professionals are saying.</p><p><blockquote>TipRanks 是一家金融数据聚合器，它像雷达一样使用其动态系统，捕捉华尔街分析师对当前市场氛围的看法。即使对于精明的投资者来说，资本市场的现状仍然是一个错综复杂的信息世界，但通过使用 TipRanks 的独特工具，人们可以更清楚地了解专业人士在说什么。</blockquote></p><p> Let’s take a look at what their hypotheses are on these five stocks.</p><p><blockquote>让我们来看看他们对这五只股票的假设。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NKE\">耐克</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/NKE\">耐克</a></b></blockquote></p><p> If viewed correctly, short-term concerns have the potential to be transformed into long-term gains.</p><p><blockquote>如果正确看待，短期担忧有可能转化为长期收益。</blockquote></p><p> Nike(<b>NKE</b>) recently reported earnings, and while it showed increases in demand and strong underlying business fundamentals, the firm did admit to struggling with persisting supply chain issues. Sam Poser of Williams Trading, however, sees this as the time to open a bullish position. (SeeNike stock chartson TipRanks)</p><p><blockquote>耐克（<b>恩克</b>）最近公布了收益，虽然显示需求增加和强劲的潜在业务基本面，但该公司确实承认正在与持续存在的供应链问题作斗争。然而，Williams Trading 的 Sam Poser 认为现在是开立看涨头寸的时候了。（SeeNike stock chartson TipRanks）</blockquote></p><p> Poser rated the stock a Buy, and declared a price target of $196.</p><p><blockquote>Poser 将该股评级为买入，并宣布目标价为 196 美元。</blockquote></p><p> The five-star analyst asserted that despite the supply chain challenges, “the global health of the Nike brand has never been better.” He perceives the headwinds to be of short-lived concern for investors and the company, and expects Nike to outperform its peers in both the near and distant future.</p><p><blockquote>这位五星级分析师断言，尽管面临供应链挑战，“耐克品牌的全球健康状况从未如此之好”。他认为逆风对投资者和公司来说是短暂的，并预计耐克在不久的将来和遥远的将来都将跑赢同行。</blockquote></p><p> In its earnings call, Nike lowered its guidance expectations, but Poser calculates that the apparel retailer is on track to meet 2025 targets.</p><p><blockquote>在财报看涨期权中，耐克降低了指引预期，但 Poser 计算出这家服装零售商有望实现 2025 年的目标。</blockquote></p><p> The Covid-19 pandemic had initially dragged down brick and mortar store sales, but this metric has nearly rebounded to the status it held before the government-mandated lockdowns. In North America, in-store sales increased more than 50% quarter-over-quarter, indicating a “robust demand” for Nike merchandise.</p><p><blockquote>Covid-19 大流行最初拖累了实体店的销售额，但这一指标几乎已经反弹到政府强制封锁之前的水平。在北美，店内销售额环比增长超过 50%，表明对耐克商品的 “需求强劲”。</blockquote></p><p> In a pool of over 7,000 expert analysts, Poser is rated by TipRanks as No. 249. His stock ratings have earned him a success rate of 55%, and brought him an average return of 24.8%.</p><p><blockquote>在超过 7,000 名专家分析师中，Poser 被 TipRanks 评为第 249 位。他的股票评级为他赢得了55%的成功率，并为他带来了24.8%的平均回报率。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/OTMO\">Otonomo Technologies Ltd</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/OTMO\">自主科技有限公司</a></b></blockquote></p><p> For SaaS companies, big data is the name of the game.</p><p><blockquote>对于SaaS公司来说，大数据就是游戏的名字。</blockquote></p><p> The power of processing billions of data points from millions of vehicles on the road has provided Otonomo Technologies (<b>OTMO</b>) with a promising business model. The data analytics firm recently went public, and analysts now see even more upside and opportunity for monetization of its product offerings. (SeeOtonomo stock analysison TipRanks)</p><p><blockquote>处理来自道路上数百万辆车的数十亿个数据点的能力提供了自主技术（<b>奥特莫</b>）具有有前途的商业模式。这家数据分析公司最近上市，分析师现在看到了其产品货币化的更多优势和机会。（参见自主股票分析提示排名）</blockquote></p><p> One of those bullish analysts is Jack Andrews of Needham &amp; Co., who wrote thatOtonomooperates a “linchpin technology” that unlocks revenue for original equipment manufacturer and connected car investments.” From his calculations, the stock provides a “favorable risk/reward setup with material upside,” if it is successful in capturing its full potential.</p><p><blockquote>Needham &amp; Co. 的杰克-安德鲁斯（Jack Andrews）就是这些看涨分析师之一，他写道，Totonomo 运营着一项 “关键技术”，可以为原始设备制造商和联网汽车投资带来收入。根据他的计算，如果该股能够成功发挥其全部潜力，它将提供 “有利的风险/回报设置，并具有重大上涨空间”。</blockquote></p><p> Andrews initiated a Buy rating on the stock, and determined a 12-month price target of $10 per share.</p><p><blockquote>安德鲁斯对该股给予买入评级，并将 12 个月目标价定为每股 10 美元。</blockquote></p><p> The top analyst explained that the company has created a bridge between two promising sectors: automotive data and its analytics. As connected car prevalence increases, so do the number of possible applications for the data they generate. He noted that beyond major car manufacturers, new revenue opportunities could arise from insurance companies and concierge platforms incorporating OTMO’s data.</p><p><blockquote>这位顶级分析师解释说，该公司已经在两个有前途的领域之间架起了一座桥梁：汽车数据及其分析。随着联网汽车普及率的增加，它们生成的数据的可能应用数量也在增加。他指出，除了大型汽车制造商，保险公司和包含 OTMO 数据的礼宾平台也可能带来新的收入机会。</blockquote></p><p> In addition to enterprise players, Otonomo provides intelligence for municipal governments about how to design safer and more efficient urban plans.</p><p><blockquote>除了企业参与者，Otonomo还为市政府提供如何设计更安全、更高效的城市规划的情报。</blockquote></p><p> One concern for the firm is a potential regulatory shift toward consumer privacy of the information shared by the vehicles, which would disrupt OTMO’s standards of data.</p><p><blockquote>该公司担心的一个问题是，监管机构可能会转向保护车辆共享信息的消费者隐私，这将扰乱 OTMO 的数据标准。</blockquote></p><p> Out of more than 7,000 analysts on TipRanks, Andrews ranks as No.158. Of his ratings, he succeeded 63% of the time, and returned an average of 25.3% on each one.</p><p><blockquote>在 TipRanks 的 7,000 多名分析师中，安德鲁斯排名第 158 位。在他的收视率中，他有63%的时间成功，平均每次收视率为25.3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/VAC\">Marriott Vacations Worldwide</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/VAC\">万豪度假全球</a></b></blockquote></p><p> The Covid-19 pandemic has proved a formidable foe for the travel and leisure industry. After repeated government mandated shutdowns, the delta variant arrived late spring and caused more disruption. Marriot Vacations Worldwide (<b>VAC</b>) survived the storm, and is remaining relevant even in the current dynamic climate.</p><p><blockquote>事实证明，新冠肺炎疫情是旅游和休闲行业的可怕敌人。在政府多次强制关闭后，德尔塔变异毒株在晚春到来，造成了更多的破坏。万豪度假全球（<b>真空</b>)在风暴中幸存下来，即使在当前动态气候下仍然具有相关性。</blockquote></p><p> David Katz of Jefferies asserted that the company is poised for upside, and is one of his top stock picks for the leisure industry. (SeeMarriot Vacations insider trading activityon TipRanks)</p><p><blockquote>杰富瑞 (Jefferies) 的大卫·卡茨 (David Katz) 断言，该公司已做好上涨的准备，并且是他对休闲行业的首选股票之一。（参见万豪度假内幕交易活动提示排名）</blockquote></p><p> Katz rated the stock a Buy, and assigned a 12-month price target of $190.</p><p><blockquote>卡茨将该股评级为买入，并将 12 个月目标价定为 190 美元。</blockquote></p><p> This bullish target takes into account headwinds from Covid-19, as well as ongoing wildfires across the western U.S. He expects the built-up consumer demand for vacations and timeshares to lead the company toward recovering from its pandemic-induced losses.</p><p><blockquote>这一看涨目标考虑到了 Covid-19 的不利因素以及美国西部持续发生的野火。他预计，消费者对假期和分时度假的不断增长的需求将引导该公司从大流行造成的损失中恢复过来。</blockquote></p><p></p><p> While the entire industry is set to experience this strong demand, Katz believes thatVAC’s links to Marriot International (<b>MAR</b>) and its brand awareness set it apart from the competition. Additionally, this connection gives VAC “access to the largest loyalty program in hospitality,” providing the firm with a massive installed base.</p><p><blockquote>虽然整个行业都将经历这种强劲的需求，但卡茨认为，Vac 与万豪国际酒店的联系（<b>海</b>）及其品牌知名度使其在竞争中脱颖而出。此外，这种联系还能让 VAC “接触到酒店业最大的忠诚度计划”，为公司提供了庞大的安装基础。</blockquote></p><p> On TipRanks, Katz comes in at No. 418 out of more than 7,000 financial analysts. From his ratings, he was successful 62% of the time, and brought in an average return of 21% per rating.</p><p><blockquote>在 TipRanks 上，卡茨在 7,000 多名金融分析师中排名第 418 位。从他的评级来看，他有62%的时间是成功的，每个评级的平均回报率为21%。</blockquote></p><p> <b>Dell Technologies<a href=\"https://laohu8.com/S/DELL\">$(DELL)$</a> </b></p><p><blockquote><b>戴尔科技<a href=\"https://laohu8.com/S/DELL\">$(戴尔)$</a></b></blockquote></p><p> Dell Technologies(<b>DELL</b>) recently held its pivotal investor day, and laid out a clear roadmap to increasing free cash flow, market share, and general direction for the company in the long-term. Share repurchasing schemes, a focus on premium consumer products, and potential upside in infrastructure projects, all point the multinational tech firm toward an eventual higher valuation.</p><p><blockquote>戴尔科技（<b>戴尔</b>）最近举行了关键投资者日，并制定了明确的路线图，以增加公司的自由现金流、市场份额和长期总体方向。股票回购计划、对高端消费品的关注以及基础设施项目的潜在上涨空间，都指向这家跨国科技公司最终的估值更高。</blockquote></p><p> Amit Daryanani of Evercore ISI reported on the conference, bullishly reiterating a Buy rating and a 12-month $114 price target.</p><p><blockquote>Evercore ISI 的 Amit Daryanani 在会议上进行了报道，乐观地重申了买入评级和 12 个月 114 美元的目标价。</blockquote></p><p> Daryanani explained that Dell announced a share repurchase program worth $5 billion in stock, as well as a quarterly dividend. In an effort to increase free cash flow, the tech company will keep its investments in mergers and acquisitions at a less significant profile. The analyst said that the conference sentiment was on-par to above his expectations. (SeeDell Technologies risk factorson TipRanks)</p><p><blockquote>Daryanani解释说，戴尔宣布了一项价值50亿美元股票的股票回购计划，以及季度股息。为了增加自由现金流，这家科技公司将把并购投资保持在较低的水平。这位分析师表示，会议情绪符合他的预期。（SeeDell Technologies 风险因素 TipRanks）</blockquote></p><p> Dell’s infrastructure and cloud-based storage facing businesses could see “substantial opportunity” in the long-term, such as in remote access solutions and telecommunications software. The Covid-19 pandemic and the work-from-home shift bolstered trends toward PCs and gaming hardware. Dell understands this and intends to focus on more premium products for everyday consumers.</p><p><blockquote>从长远来看，面向戴尔基础设施和云存储的企业可能会看到 “巨大的机遇”，例如在远程访问解决方案和电信软件方面。新冠肺炎疫情和在家工作的转变推动了个人电脑和游戏硬件的趋势。戴尔明白这一点，并打算专注于面向日常消费者的更多优质产品。</blockquote></p><p> Ranking No. 355 out of over 7,000 analysts on TipRanks, Daryanani maintains a 63% success rate on his ratings. His stock picks currently average out to a 16.6% return.</p><p><blockquote>Daryanani在TipRanks的7000多名分析师中排名第355位，他的评级成功率为63%。他选择的股票目前的平均回报率为 16.6%。</blockquote></p><p> <b>Activision Blizzard</b><b><a href=\"https://laohu8.com/S/ATVI\">$(ATVI)$</a> </b></p><p><blockquote><b>动视暴雪</b><b><a href=\"https://laohu8.com/S/ATVI\">$(ATVI)$</a></b></blockquote></p><p> While individuals were under pandemic-induced lockdowns, many people picked up playing video games as a way to pass the time. The companies that produce these game franchises benefitted from the trend, andActivision Blizzard(<b>ATVI</b>) was no outlier. Now, the firm has a “wave of content” headed to consumers’ consoles, and analysts are bullish on the strong pipeline.</p><p><blockquote>当个人处于疫情引发的封锁状态时，许多人开始玩电子游戏作为打发时间的一种方式。制作这些游戏系列的公司受益于这一趋势，动视暴雪（<b>阿特维</b>）不是异常值。现在，该公司迎来了一波面向消费者游戏机的 “内容浪潮 ”，分析师们看好这一强大的产品线。</blockquote></p><p> Andrew Uerkwitz of Jefferies delineated his bullish hypothesis on the stock, stating that Activision has an “underappreciated portfolio of high-quality content in the fastest growing segment in entertainment.”</p><p><blockquote>Jefferies 的 Andrew Uerkwitz 阐述了他对该股的看涨假设，称动视暴雪 “在增长最快的娱乐领域拥有被低估的高质量内容组合”。</blockquote></p><p> Uerkwitz declared the stock a Buy, and assigned a 12-month price target of $120 per share.</p><p><blockquote>Uerkwitz 宣布该股买入，并将 12 个月目标价定为每股 120 美元。</blockquote></p><p> After running several possible scenarios regarding release dates and consumer reception for its upcoming titles, the five-star analyst still finds it hard to imagine further downside, even in bearish cases. Uerkwitz calculated a situation wherein a particular title underperformed, and Activision Blizzard still exceeded estimates for FY2021 earnings per share. (SeeActivision Blizzard’s earnings historyon TipRanks)</p><p><blockquote>在对即将推出的游戏的发行日期和消费者接受度进行了几种可能的情况后，这位五星级分析师仍然发现很难想象进一步的负面影响，即使是在看跌的情况下。Uerkwitz 计算了一种情况，其中特定游戏表现不佳，而动视暴雪 2021 财年每股收益仍超过预期。（请参阅动视暴雪的盈利历史和提示排名）</blockquote></p><p> The company maintains strong gross margins, which are providing it with significant operating leverage. Elaborating on Activision’s options, Uerkwitz added that it has tools for growth, such as share buyback schemes and investments in content, and can explore inorganic expansion through mergers and acquisitions.</p><p><blockquote>该公司保持强劲的毛利率，这为其提供了显着的运营杠杆。在阐述动视的选择时，Uerkwitz 补充说，动视拥有增长工具，如股票回购计划和内容投资，并可以通过并购探索无机扩张。</blockquote></p><p> Activision recently came to a settlement with the Equal Employment Opportunity Commission regarding a sexual harassment case. In his opinion, Uerkwitz sees the $18 million deal with the U.S. federal agency as a speed bump in an otherwise smooth year. The settlement removes concerns over worse regulatory penalties, although a less-than-stellar work environment could prove as downside if talent is to be driven away.</p><p><blockquote>动视最近就一起性骚扰案件与平等就业机会委员会达成和解。在他看来，Uerkwitz 认为与美国联邦机构达成的 1800 万美元协议是平稳的一年中的一个减速带。该和解消除了对更严重监管处罚的担忧，尽管如果要赶走人才，不太理想的工作环境可能会被证明是不利的。</blockquote></p><p> On TipRanks, Uerkwitz maintains a rank of No. 122 out of over 7,000 expert analysts. His success rate stands at 62%, and per rating he averages a return of 27.7%.</p><p><blockquote>在TipRanks上，Uerkwitz在7000多名专家分析师中排名第122位。他的成功率为62%，每次评级他的平均回报率为27.7%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114921615","content_text":"TipRanks is a financial data aggregator that uses its dynamic system like a radar, picking up what Wall Street’s analysts have to say about the current market atmosphere. The state of capital markets remains a tangled world of information for even savvy investors, but by using TipRanks’ unique tools, one can gain a clearer perspective on what the professionals are saying.\nLet’s take a look at what their hypotheses are on these five stocks.\n耐克 \nIf viewed correctly, short-term concerns have the potential to be transformed into long-term gains.\nNike(NKE) recently reported earnings, and while it showed increases in demand and strong underlying business fundamentals, the firm did admit to struggling with persisting supply chain issues. Sam Poser of Williams Trading, however, sees this as the time to open a bullish position. (SeeNike stock chartson TipRanks)\nPoser rated the stock a Buy, and declared a price target of $196.\nThe five-star analyst asserted that despite the supply chain challenges, “the global health of the Nike brand has never been better.” He perceives the headwinds to be of short-lived concern for investors and the company, and expects Nike to outperform its peers in both the near and distant future.\nIn its earnings call, Nike lowered its guidance expectations, but Poser calculates that the apparel retailer is on track to meet 2025 targets.\nThe Covid-19 pandemic had initially dragged down brick and mortar store sales, but this metric has nearly rebounded to the status it held before the government-mandated lockdowns. In North America, in-store sales increased more than 50% quarter-over-quarter, indicating a “robust demand” for Nike merchandise.\nIn a pool of over 7,000 expert analysts, Poser is rated by TipRanks as No. 249. His stock ratings have earned him a success rate of 55%, and brought him an average return of 24.8%.\nOtonomo Technologies Ltd \nFor SaaS companies, big data is the name of the game.\nThe power of processing billions of data points from millions of vehicles on the road has provided Otonomo Technologies (OTMO) with a promising business model. The data analytics firm recently went public, and analysts now see even more upside and opportunity for monetization of its product offerings. (SeeOtonomo stock analysison TipRanks)\nOne of those bullish analysts is Jack Andrews of Needham & Co., who wrote thatOtonomooperates a “linchpin technology” that unlocks revenue for original equipment manufacturer and connected car investments.” From his calculations, the stock provides a “favorable risk/reward setup with material upside,” if it is successful in capturing its full potential.\nAndrews initiated a Buy rating on the stock, and determined a 12-month price target of $10 per share.\nThe top analyst explained that the company has created a bridge between two promising sectors: automotive data and its analytics. As connected car prevalence increases, so do the number of possible applications for the data they generate. He noted that beyond major car manufacturers, new revenue opportunities could arise from insurance companies and concierge platforms incorporating OTMO’s data.\nIn addition to enterprise players, Otonomo provides intelligence for municipal governments about how to design safer and more efficient urban plans.\nOne concern for the firm is a potential regulatory shift toward consumer privacy of the information shared by the vehicles, which would disrupt OTMO’s standards of data.\nOut of more than 7,000 analysts on TipRanks, Andrews ranks as No.158. Of his ratings, he succeeded 63% of the time, and returned an average of 25.3% on each one.\nMarriott Vacations Worldwide \nThe Covid-19 pandemic has proved a formidable foe for the travel and leisure industry. After repeated government mandated shutdowns, the delta variant arrived late spring and caused more disruption. Marriot Vacations Worldwide (VAC) survived the storm, and is remaining relevant even in the current dynamic climate.\nDavid Katz of Jefferies asserted that the company is poised for upside, and is one of his top stock picks for the leisure industry. (SeeMarriot Vacations insider trading activityon TipRanks)\nKatz rated the stock a Buy, and assigned a 12-month price target of $190.\nThis bullish target takes into account headwinds from Covid-19, as well as ongoing wildfires across the western U.S. He expects the built-up consumer demand for vacations and timeshares to lead the company toward recovering from its pandemic-induced losses.\nWhile the entire industry is set to experience this strong demand, Katz believes thatVAC’s links to Marriot International (MAR) and its brand awareness set it apart from the competition. Additionally, this connection gives VAC “access to the largest loyalty program in hospitality,” providing the firm with a massive installed base.\nOn TipRanks, Katz comes in at No. 418 out of more than 7,000 financial analysts. From his ratings, he was successful 62% of the time, and brought in an average return of 21% per rating.\nDell Technologies$(DELL)$ \nDell Technologies(DELL) recently held its pivotal investor day, and laid out a clear roadmap to increasing free cash flow, market share, and general direction for the company in the long-term. Share repurchasing schemes, a focus on premium consumer products, and potential upside in infrastructure projects, all point the multinational tech firm toward an eventual higher valuation.\nAmit Daryanani of Evercore ISI reported on the conference, bullishly reiterating a Buy rating and a 12-month $114 price target.\nDaryanani explained that Dell announced a share repurchase program worth $5 billion in stock, as well as a quarterly dividend. In an effort to increase free cash flow, the tech company will keep its investments in mergers and acquisitions at a less significant profile. The analyst said that the conference sentiment was on-par to above his expectations. (SeeDell Technologies risk factorson TipRanks)\nDell’s infrastructure and cloud-based storage facing businesses could see “substantial opportunity” in the long-term, such as in remote access solutions and telecommunications software. The Covid-19 pandemic and the work-from-home shift bolstered trends toward PCs and gaming hardware. Dell understands this and intends to focus on more premium products for everyday consumers.\nRanking No. 355 out of over 7,000 analysts on TipRanks, Daryanani maintains a 63% success rate on his ratings. His stock picks currently average out to a 16.6% return.\nActivision Blizzard$(ATVI)$ \nWhile individuals were under pandemic-induced lockdowns, many people picked up playing video games as a way to pass the time. The companies that produce these game franchises benefitted from the trend, andActivision Blizzard(ATVI) was no outlier. Now, the firm has a “wave of content” headed to consumers’ consoles, and analysts are bullish on the strong pipeline.\nAndrew Uerkwitz of Jefferies delineated his bullish hypothesis on the stock, stating that Activision has an “underappreciated portfolio of high-quality content in the fastest growing segment in entertainment.”\nUerkwitz declared the stock a Buy, and assigned a 12-month price target of $120 per share.\nAfter running several possible scenarios regarding release dates and consumer reception for its upcoming titles, the five-star analyst still finds it hard to imagine further downside, even in bearish cases. Uerkwitz calculated a situation wherein a particular title underperformed, and Activision Blizzard still exceeded estimates for FY2021 earnings per share. (SeeActivision Blizzard’s earnings historyon TipRanks)\nThe company maintains strong gross margins, which are providing it with significant operating leverage. Elaborating on Activision’s options, Uerkwitz added that it has tools for growth, such as share buyback schemes and investments in content, and can explore inorganic expansion through mergers and acquisitions.\nActivision recently came to a settlement with the Equal Employment Opportunity Commission regarding a sexual harassment case. In his opinion, Uerkwitz sees the $18 million deal with the U.S. federal agency as a speed bump in an otherwise smooth year. The settlement removes concerns over worse regulatory penalties, although a less-than-stellar work environment could prove as downside if talent is to be driven away.\nOn TipRanks, Uerkwitz maintains a rank of No. 122 out of over 7,000 expert analysts. His success rate stands at 62%, and per rating he averages a return of 27.7%.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862759747,"gmtCreate":1632917849549,"gmtModify":1632917849907,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Phone to be made cheaper?","listText":"Phone to be made cheaper?","text":"Phone to be made cheaper?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/862759747","repostId":"2171811529","repostType":4,"isVote":1,"tweetType":1,"viewCount":3605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866831644,"gmtCreate":1632751977588,"gmtModify":1632798091712,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Accurate?","listText":"Accurate?","text":"Accurate?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/866831644","repostId":"2170238006","repostType":4,"isVote":1,"tweetType":1,"viewCount":3216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868251535,"gmtCreate":1632660999827,"gmtModify":1632798726269,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Time to buy?","listText":"Time to buy?","text":"Time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/868251535","repostId":"1142057327","repostType":4,"repost":{"id":"1142057327","kind":"news","pubTimestamp":1632643246,"share":"https://www.laohunote.com/m/news/1142057327?lang=zh_CN&edition=full","pubTime":"2021-09-26 16:00","market":"hk","language":"en","title":"Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始在亚利桑那州建设两家计算机芯片工厂</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142057327","media":"The street","summary":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to","content":"<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.</p><p><blockquote>英特尔在亚利桑那州破土动工了两家新的计算机芯片工厂，这是一项耗资 200 亿美元的项目的一部分，旨在帮助满足美国对半导体的高需求。</blockquote></p><p> Intel&nbsp;(<b>INTC</b>) -Get Intel Corporation (INTC) Report&nbsp;on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help&nbsp;alleviate the severe shortage of semiconductors in the U.S.</p><p><blockquote>英特尔（<b>国际电联</b>) -Get 英特尔公司 (INTC) 周五报道称，英特尔公司 (INTC) 在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项耗资 200 亿美元的项目的一部分，旨在帮助缓解美国半导体严重短缺的问题。</blockquote></p><p> The Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的半导体芯片制造商的首席执行官帕特·基辛格在该公司位于亚利桑那州钱德勒的奥科蒂略园区主持了该项目的奠基仪式，这标志着该州历史上最大的私人投资。</blockquote></p><p> Intel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.</p><p><blockquote>英特尔预计这些工厂将于 2024 年全面投入运营，生产公司最先进的工艺技术。</blockquote></p><p> “Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.</p><p><blockquote>“基辛格在公司声明中说：”今天的庆祝活动标志着一个重要的里程碑，因为我们正在努力提高产能，满足对半导体的巨大需求： 半导体是一切数字化的基础技术。“我们正在迎来一个创新的新时代--对英特尔、对亚利桑那州乃至对全世界来说都是如此。自 40 多年前开设工厂以来，我们在亚利桑那州的总投资将超过 500 亿美元。</blockquote></p><p> \"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.</p><p><blockquote>“作为唯一一家总部位于美国的领先芯片制造商，我们致力于在这项长期投资的基础上再接再厉，帮助美国重新获得半导体领域的领导地位，”基辛格说。</blockquote></p><p> Shares of Intel on Friday traded 0.18% higher to $54.32 after hours.</p><p><blockquote>英特尔股价周五盘后上涨 0.18%，至 54.32 美元。</blockquote></p><p> Gelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.</p><p><blockquote>基辛格周四参加了与科技公司高管和商务部长吉娜·雷蒙多的虚拟会议，以解决全球半导体芯片短缺问题，这干扰了高科技、电子和汽车行业的生产。</blockquote></p><p> The two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.</p><p><blockquote>这两家新工厂将被命名为 Fab 52 和 Fab 62，总共将容纳六家半导体晶圆厂。该项目将创造3000多个高科技、高工资的英特尔工作岗位、3000个建筑工作岗位，并在当地社区支持约15000个额外的间接工作岗位。</blockquote></p><p> Intel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.</p><p><blockquote>英特尔竞争对手台积电公司计划在亚利桑那州建造第二家美国芯片工厂，并计划于 2024 年开始生产。</blockquote></p><p></p>","source":"lsy1610613172068","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>Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始在亚利桑那州建设两家计算机芯片工厂</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\">\nIntel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始在亚利桑那州建设两家计算机芯片工厂</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The street</strong><span class=\"h-time small\">2021-09-26 16:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.</p><p><blockquote>英特尔在亚利桑那州破土动工了两家新的计算机芯片工厂，这是一项耗资 200 亿美元的项目的一部分，旨在帮助满足美国对半导体的高需求。</blockquote></p><p> Intel&nbsp;(<b>INTC</b>) -Get Intel Corporation (INTC) Report&nbsp;on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help&nbsp;alleviate the severe shortage of semiconductors in the U.S.</p><p><blockquote>英特尔（<b>国际电联</b>) -Get 英特尔公司 (INTC) 周五报道称，英特尔公司 (INTC) 在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项耗资 200 亿美元的项目的一部分，旨在帮助缓解美国半导体严重短缺的问题。</blockquote></p><p> The Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的半导体芯片制造商的首席执行官帕特·基辛格在该公司位于亚利桑那州钱德勒的奥科蒂略园区主持了该项目的奠基仪式，这标志着该州历史上最大的私人投资。</blockquote></p><p> Intel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.</p><p><blockquote>英特尔预计这些工厂将于 2024 年全面投入运营，生产公司最先进的工艺技术。</blockquote></p><p> “Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.</p><p><blockquote>“基辛格在公司声明中说：”今天的庆祝活动标志着一个重要的里程碑，因为我们正在努力提高产能，满足对半导体的巨大需求： 半导体是一切数字化的基础技术。“我们正在迎来一个创新的新时代--对英特尔、对亚利桑那州乃至对全世界来说都是如此。自 40 多年前开设工厂以来，我们在亚利桑那州的总投资将超过 500 亿美元。</blockquote></p><p> \"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.</p><p><blockquote>“作为唯一一家总部位于美国的领先芯片制造商，我们致力于在这项长期投资的基础上再接再厉，帮助美国重新获得半导体领域的领导地位，”基辛格说。</blockquote></p><p> Shares of Intel on Friday traded 0.18% higher to $54.32 after hours.</p><p><blockquote>英特尔股价周五盘后上涨 0.18%，至 54.32 美元。</blockquote></p><p> Gelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.</p><p><blockquote>基辛格周四参加了与科技公司高管和商务部长吉娜·雷蒙多的虚拟会议，以解决全球半导体芯片短缺问题，这干扰了高科技、电子和汽车行业的生产。</blockquote></p><p> The two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.</p><p><blockquote>这两家新工厂将被命名为 Fab 52 和 Fab 62，总共将容纳六家半导体晶圆厂。该项目将创造3000多个高科技、高工资的英特尔工作岗位、3000个建筑工作岗位，并在当地社区支持约15000个额外的间接工作岗位。</blockquote></p><p> Intel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.</p><p><blockquote>英特尔竞争对手台积电公司计划在亚利桑那州建造第二家美国芯片工厂，并计划于 2024 年开始生产。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories\">The street</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":{"INTC":"英特尔"},"source_url":"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142057327","content_text":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.\nIntel (INTC) -Get Intel Corporation (INTC) Report on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help alleviate the severe shortage of semiconductors in the U.S.\nThe Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.\nIntel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.\n“Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.\n\"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.\nShares of Intel on Friday traded 0.18% higher to $54.32 after hours.\nGelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.\nThe two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.\nIntel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.","news_type":1,"symbols_score_info":{"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":3493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":863461104,"gmtCreate":1632412894108,"gmtModify":1632729682036,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Go go go!","listText":"Go go go!","text":"Go go go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/863461104","repostId":"1159478468","repostType":4,"repost":{"id":"1159478468","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1632411695,"share":"https://www.laohunote.com/m/news/1159478468?lang=zh_CN&edition=full","pubTime":"2021-09-23 23:41","market":"other","language":"en","title":"EngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart 开盘价为 37 美元，较 IPO 价格上涨约 43.6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159478468","media":"Tiger Newspress","summary":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintr","content":"<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p><p><blockquote>（9月23日）<a href=\"https://laohu8.com/S/ESMT\">EngageSmart公司。</a>开盘价为 37 美元，较 IPO 价格上涨约 43.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Company</b></p><p><blockquote><b>公司</b></blockquote></p><p> Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p><p><blockquote>EngageSmart总部位于马萨诸塞州布伦特里，旨在开发一个平台，为某些垂直行业量身定制，提高客户参与度。</blockquote></p><p> Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p><p><blockquote>管理层由创始人兼首席执行官 Robert P. Bennett 领导，他自公司成立以来一直在公司工作，此前曾担任 Sage Payment Solutions 总裁。</blockquote></p><p> The company's primary offerings include:</p><p><blockquote>该公司的主要产品包括：</blockquote></p><p> <ul>  <li>SimplePractice - Wellness</li>  <li>InvoiceCloud - Government, Utilities and Financial Services</li>  <li>HealthPay24 - Healthcare</li>  <li>DonorDrive - Non-profit and Corporate Fundraising</li> </ul> EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p><p><blockquote><ul><li>简单实践 - 健康</li><li>InvoiceCloud - 政府、公用事业和金融服务</li><li>HealthPay24-医疗保健</li><li>DonorDrive - 非营利和企业筹款</li></ul>EngageSmart 已从 General Atlantic 和 Summit Partners 等投资者那里获得了至少 4.51 亿美元的股权投资。</blockquote></p><p> <b>Customer Acquisition</b></p><p><blockquote><b>客户获取</b></blockquote></p><p> The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p><p><blockquote>该公司通过其直销队伍和在线服务追求大型企业客户和中小企业客户。</blockquote></p><p> As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p><p><blockquote>截至2021年6月30日，该公司已为中小企业市场的68,000多家客户和企业解决方案部门的3,000多家客户提供服务。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p><p><blockquote>销售及营销开支占总收入的百分比随著收入增加而下降，如下图所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Expenses vs. Revenue</b></p><p><blockquote><td><b>费用与收入</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Percentage</p><p><blockquote><td>百分比</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>32.4%</p><p><blockquote><td>32.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>33.1%</p><p><blockquote><td>33.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>43.1%</p><p><blockquote><td>43.1%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p><p><blockquote>销售和营销效率率（定义为每1美元的销售和营销支出产生多少美元的额外新收入）在最近的报告期内略有下降至1.1倍，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Efficiency Rate</b></p><p><blockquote><td><b>效率率</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Multiple</p><p><blockquote><td>多个的</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>1.1</p><p><blockquote><td>1.1</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>1.3</p><p><blockquote><td>1.3</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p><p><blockquote>40法则是软件行业的一条经验法则，即只要收入增长率和EBITDA百分比等于或超过40%，公司就处于可接受的增长/EBITDA轨迹上。</blockquote></p><p> ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p><p><blockquote>截至 2021 年 6 月 30 日，ESMT 的最新计算为 64%，因此该公司在这方面表现良好，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Rule of 40</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>40法则</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Calculation</b></p><p><blockquote><td><b>计算</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Recent Rev. Growth %</p><p><blockquote><tr><td>近期修订版增长率%</td></tr></blockquote></p><p></td>    <td>59%</p><p><blockquote><td>59%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EBITDA %</p><p><blockquote><tr><td>息税折旧摊销前利润百分比</td></tr></blockquote></p><p></td>    <td>5%</p><p><blockquote><td>5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Total</p><p><blockquote><tr><td>总的</td></tr></blockquote></p><p></td>    <td>64%</p><p><blockquote><td>64%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>截至2020年12月31日的年度，该公司以美元为基础的净收入保留率为124%，这是一个强劲的结果。</blockquote></p><p> The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p><p><blockquote>基于美元的净收入保留率指标衡量随着时间的推移从每个客户群体中产生了多少额外收入，因此超过100%的数字意味着公司随着时间的推移从同一客户群体中产生了更多收入，表明良好的产品/市场契合度以及高效的销售和营销工作。</blockquote></p><p> <b>Market &amp; Competition</b></p><p><blockquote><b>市场与竞争</b></blockquote></p><p> According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p><p><blockquote>根据Mordor Intelligence的2021年市场研究报告，2020年全球客户参与解决方案市场估计为155亿美元，预计到2026年将达到309亿美元。</blockquote></p><p> This represents a forecast CAGR of 12.65% from 2021 to 2026.</p><p><blockquote>这意味着2021年至2026年的预测CAGR为12.65%。</blockquote></p><p> The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p><p><blockquote>这一预期增长的主要驱动力是技术解决方案的增长，以改善客户通过他们用于与企业联系的任何设备的旅程。</blockquote></p><p> Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p><p><blockquote>此外，降低客户流失率的愿望导致了企业财务状况的改善和估值的增长。</blockquote></p><p> Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p><p><blockquote>下图显示了2018年美国不同行业客户流失率的变化：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p><p><blockquote>主要竞争或其他行业参与者包括：</blockquote></p><p> <ul>  <li>IBM(NYSE:IBM)</p><p><blockquote><ul><li>IBM（纽约证券交易所代码：IBM）</li></ul></blockquote></p><p></li>  <li>Microsoft(NASDAQ:MSFT)</p><p><blockquote><li>微软（纳斯达克股票代码：MSFT）</li></blockquote></p><p></li>  <li>Nuance(NASDAQ:NUAN)</p><p><blockquote><li>细微差别（纳斯达克股票代码：NUAN）</li></blockquote></p><p></li>  <li>Oracle(NYSE:ORCL)</p><p><blockquote><li>甲骨文（纽约证券交易所代码：ORCL）</li></blockquote></p><p></li>  <li>Salesforce(NYSE:CRM)</p><p><blockquote><li>Salesforce（纽约证券交易所代码：CRM）</li></blockquote></p><p></li>  <li>Avaya(NYSE:AVYA)</p><p><blockquote><li>阿瓦亚（纽约证券交易所代码：AVYA）</li></blockquote></p><p></li>  <li>Calabrio</p><p><blockquote><li>卡拉布里亚</li></blockquote></p><p></li>  <li>Aspect Software</p><p><blockquote><li>方面软件</li></blockquote></p><p></li>  <li>Genesys</p><p><blockquote><li>创世纪</li></blockquote></p><p></li>  <li>Verint Systems(NASDAQ:VRNT)</p><p><blockquote><li>Verint Systems（纳斯达克股票代码：VRNT）</li></blockquote></p><p></li>  <li>NICE Ltd.(NASDAQ:NICE)</p><p><blockquote><li>尼斯有限公司（纳斯达克股票代码：NICE）</li></blockquote></p><p></li>  <li>OpenText</p><p><blockquote><li>打开文本</li></blockquote></p><p></li>  <li>Pegasystems(NASDAQ:PEGA)</p><p><blockquote><li>飞马系统公司（纳斯达克股票代码：PEGA）</li></blockquote></p><p></li>  <li>Others</p><p><blockquote><li>其他</li></blockquote></p><p></p><p></li> </ul> <b>Financial Performance</b></p><p><blockquote><b>财务表现</b></blockquote></p><p> EngageSmart's recent financial results can be summarized as follows:</p><p><blockquote>EngageSmart近期的财务业绩可总结如下：</blockquote></p><p> <ul>  <li>Growing topline revenue</p><p><blockquote><ul><li>营收增长</li></ul></blockquote></p><p></li>  <li>Increasing gross profit and high gross margin</p><p><blockquote><li>毛利增长及高毛利率</li></blockquote></p><p></li>  <li>Growing operating profit and net income</p><p><blockquote><li>营业利润和净利润不断增长</li></blockquote></p><p></li>  <li>Increasing cash flow from operations</p><p><blockquote><li>增加经营现金流</li></blockquote></p><p></li> </ul> Below are relevant financial results derived from the firm's registration statement:</p><p><blockquote>以下为公司注册声明得出的相关财务业绩：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Total Revenue</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>总收入</b></td></tr></tbody></table></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Total Revenue</p><p><blockquote><td>总收入</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与先前相比的%方差</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 99,171,000</p><p><blockquote><td>$99,171,000</td></blockquote></p><p></td>    <td>58.6%</p><p><blockquote><td>58.6%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 146,557,000</p><p><blockquote><td>$146,557,000</td></blockquote></p><p></td>    <td>77.8%</p><p><blockquote><td>77.8%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 82,432,000</p><p><blockquote><td>$82,432,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>毛利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Profit (Loss)</p><p><blockquote><td>毛利（亏损）</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与先前相比的%方差</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 73,673,000</p><p><blockquote><td>$73,673,000</td></blockquote></p><p></td>    <td>61.4%</p><p><blockquote><td>61.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 108,964,000</p><p><blockquote><td>$108,964,000</td></blockquote></p><p></td>    <td>89.2%</p><p><blockquote><td>89.2%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 57,591,000</p><p><blockquote><td>$57,591,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Margin</b></p><p><blockquote><tr></tr><tr><td><b>毛利率</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Margin</p><p><blockquote><td>毛利率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>74.29%</p><p><blockquote><td>74.29%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>74.35%</p><p><blockquote><td>74.35%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>69.86%</p><p><blockquote><td>69.86%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Operating Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>营业溢利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Operating Profit (Loss)</p><p><blockquote><td>营业溢利（亏损）</td></blockquote></p><p></td>    <td>Operating Margin</p><p><blockquote><td>营业利润率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 5,001,000</p><p><blockquote><td>$5,001,000</td></blockquote></p><p></td>    <td>5.0%</p><p><blockquote><td>5.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 648,000</p><p><blockquote><td>$648,000</td></blockquote></p><p></td>    <td>0.4%</p><p><blockquote><td>0.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (50,398,000)</p><p><blockquote><td>$(50,398,000)</td></blockquote></p><p></td>    <td>-61.1%</p><p><blockquote><td>-61.1%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Net Income (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>净收入（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Net Income (Loss)</p><p><blockquote><td>净收入（亏损）</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 274,000</p><p><blockquote><td>$274,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ (6,678,000)</p><p><blockquote><td>$(6,678,000)</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (53,598,000)</p><p><blockquote><td>$(53,598,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Cash Flow From Operations</b></p><p><blockquote><tr></tr><tr><td><b>经营现金流量</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Cash Flow From Operations</p><p><blockquote><td>经营现金流量</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 12,044,000</p><p><blockquote><td>$12,044,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 19,645,000</p><p><blockquote><td>$19,645,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (1,427,000)</p><p><blockquote><td>$(1,427,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td>(Glossary Of Terms)</p><p><blockquote><tr></tr><tr><td>（术语表）</td></tr></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p><p><blockquote>截至2021年6月30日，EngageSmart拥有3180万美元现金和1.518亿美元总负债。</blockquote></p><p> Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月内，自由现金流为2520万美元。</blockquote></p><p> <b>IPO Details</b></p><p><blockquote><b>IPO详情</b></blockquote></p><p> ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p><p><blockquote>ESMT 打算出售 1300 万股股票，出售股东将以每股 24.00 美元的拟议中点价格发售 155 万股普通股，总收益约为 3.49 亿美元，不包括出售惯例承销商期权。</blockquote></p><p> New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p><p><blockquote>新的潜在投资者 Dragoneer Investment Group 已表示有兴趣以拟议的中点价格购买 210 万股此次发行的股票，即约 5040 万美元。</blockquote></p><p> Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p><p><blockquote>假设在拟议价格范围的中点成功IPO，该公司在IPO时的企业价值（不包括承销商期权）将约为37亿美元。</blockquote></p><p> Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p><p><blockquote>撇除承销商期权和私募股份或限制性股票（如有）的影响，流通股与流通股的比率将约为9.04%。低于 10% 的数字通常被认为是“低流通量”股票，可能会受到大幅价格波动的影响。</blockquote></p><p> Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p><p><blockquote>根据该公司最新的监管文件，它计划将净收益用途如下：</blockquote></p><p>   We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.    Source: SEC  Management's presentation of the company roadshow isavailable here.</p><p><blockquote>我们预计将使用此次发行的所得款项净额全额偿还信贷额度项下约 1.142 亿美元的未偿还借款。我们目前打算将本次发行的剩余净收益用于一般公司用途，包括为我们的增长提供资金、收购互补业务、产品、服务或技术、营运资金、运营费用和资本支出。资料来源：SEC管理层对公司路演的介绍可在此处获得。</blockquote></p><p> Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p><p><blockquote>关于未决法律诉讼，截至监管备案日，管理层尚未披露针对该公司的任何法律索赔。</blockquote></p><p> Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p><p><blockquote>此次IPO的上市承销商包括摩根大通、高盛、美国银行证券和其他投资银行。</blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p></p><p> Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p><p><blockquote>下表是该公司首次公开募股时的相关资本和估值指标，不包括承销商选择权的影响：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Measure [TTM]</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>测量[TTM]</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Amount</b></p><p><blockquote><td><b>数量</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Market Capitalization at IPO</p><p><blockquote><tr><td>首次公开发售时的市值</td></tr></blockquote></p><p></td>    <td>$3,862,956,720</p><p><blockquote><td>$3,862,956,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Enterprise Value</p><p><blockquote><tr><td>企业价值</td></tr></blockquote></p><p></td>    <td>$3,656,695,720</p><p><blockquote><td>$3,656,695,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售</td></tr></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>电动汽车/收入</td></tr></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>首页 / EBITDA</td></tr></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Float To Outstanding Shares Ratio</p><p><blockquote><tr><td>流通股与流通股比率</td></tr></blockquote></p><p></td>    <td>9.04%</p><p><blockquote><td>9.04%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Proposed IPO Midpoint Price per Share</p><p><blockquote><tr><td>建议IPO每股中点价格</td></tr></blockquote></p><p></td>    <td>$24.00</p><p><blockquote><td>$24.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Net Free Cash Flow</p><p><blockquote><tr><td>净自由现金流量</td></tr></blockquote></p><p></td>    <td>$25,236,000</p><p><blockquote><td>$25,236,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>Free Cash Flow Yield Per Share</p><p><blockquote><tr><td>每股自由现金流收益率</td></tr></blockquote></p><p></td>    <td>0.65%</p><p><blockquote><td>0.65%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> Source: SEC</p><p><blockquote><tr></tr>资料来源：SEC</blockquote></p><p> As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p><p><blockquote>作为参考，一个潜在的公众可比将是尼斯有限公司；以下是其主要估值指标的比较：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Metric</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>度量</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Nice Ltd.</b></p><p><blockquote><td><b>尼斯有限公司</b></td></blockquote></p><p></td>    <td><b>EngageSmart</b></p><p><blockquote><td><b>参与智能</b></td></blockquote></p><p></td>    <td><b>Variance</b></p><p><blockquote><td><b>差异</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售</td></tr></blockquote></p><p></td>    <td>11.01</p><p><blockquote><td>11.01</td></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>    <td>91.5%</p><p><blockquote><td>91.5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>电动汽车/收入</td></tr></blockquote></p><p></td>    <td>10.67</p><p><blockquote><td>10.67</td></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>    <td>87.1%</p><p><blockquote><td>87.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>首页 / EBITDA</td></tr></blockquote></p><p></td>    <td>41.73</p><p><blockquote><td>41.73</td></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>    <td>804.3%</p><p><blockquote><td>804.3%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$3.05</p><p><blockquote><td>$3.05</td></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>    <td>-100.0%</p><p><blockquote><td>-100.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>5.3%</p><p><blockquote><td>5.3%</td></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>    <td>1003.34%</p><p><blockquote><td>1003.34%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> (S-1/A andSeeking Alpha)</p><p><blockquote><tr></tr>（S-1/A和Seeking Alpha）</blockquote></p><p> <b>Commentary</b></p><p><blockquote><b>评论</b></blockquote></p><p> ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p><p><blockquote>ESMT 正在寻求公共投资来偿还债务并用于其一般未具体说明的企业增长计划。</blockquote></p><p> The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p><p><blockquote>该公司的财务数据显示营收增长强劲，毛利润增长、营业利润和净利润略有波动，运营现金流也在增长。</blockquote></p><p> Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月的自由现金流为2520万美元。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p><p><blockquote>随着收入的增加，销售和营销费用占总收入的百分比有所下降，其销售和营销效率在最近六个月报告期内下降至 1.1 倍。</blockquote></p><p> The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>该公司的 40 法则表现出色，截至 2020 年 12 月 31 日止年度的美元净收入保留率为 124%，这是一个强劲的结果。</blockquote></p><p> The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p><p><blockquote>向企业提供客户参与软件的市场机会很大，预计到2026年底规模将翻一番，因此该公司将受益于强劲的行业增长势头。</blockquote></p><p> JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p><p><blockquote>摩根大通是主承销商，该公司在过去 12 个月内牵头的 IPO 自 IPO 以来平均回报率为 20.4%。这是期内所有主要承销商的中级表现。</blockquote></p><p> The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p><p><blockquote>该公司前景面临的主要风险是大公司有能力将部分服务捆绑到现有产品中，从而导致定价压力下行和竞争加剧。</blockquote></p><p> As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p><p><blockquote>至于估值，与部分竞争对手 NICE 相比，ESMT 的收入增长速度要快得多，因此其更高的收入倍数似乎是合理的。</blockquote></p><p> Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p><p><blockquote>此外，该公司的增长速度比竞争对手 Pegasystems 快得多，因此似乎正在从这些公司和客户参与市场的其他公司手中夺取市场份额。</blockquote></p><p> Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p><p><blockquote>鉴于该公司与竞争对手相比强劲的增长和运营指标，虽然 IPO 并不便宜，但值得考虑。</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>EngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart 开盘价为 37 美元，较 IPO 价格上涨约 43.6%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart 开盘价为 37 美元，较 IPO 价格上涨约 43.6%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-23 23:41</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p><p><blockquote>（9月23日）<a href=\"https://laohu8.com/S/ESMT\">EngageSmart公司。</a>开盘价为 37 美元，较 IPO 价格上涨约 43.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Company</b></p><p><blockquote><b>公司</b></blockquote></p><p> Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p><p><blockquote>EngageSmart总部位于马萨诸塞州布伦特里，旨在开发一个平台，为某些垂直行业量身定制，提高客户参与度。</blockquote></p><p> Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p><p><blockquote>管理层由创始人兼首席执行官 Robert P. Bennett 领导，他自公司成立以来一直在公司工作，此前曾担任 Sage Payment Solutions 总裁。</blockquote></p><p> The company's primary offerings include:</p><p><blockquote>该公司的主要产品包括：</blockquote></p><p> <ul>  <li>SimplePractice - Wellness</li>  <li>InvoiceCloud - Government, Utilities and Financial Services</li>  <li>HealthPay24 - Healthcare</li>  <li>DonorDrive - Non-profit and Corporate Fundraising</li> </ul> EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p><p><blockquote><ul><li>简单实践 - 健康</li><li>InvoiceCloud - 政府、公用事业和金融服务</li><li>HealthPay24-医疗保健</li><li>DonorDrive - 非营利和企业筹款</li></ul>EngageSmart 已从 General Atlantic 和 Summit Partners 等投资者那里获得了至少 4.51 亿美元的股权投资。</blockquote></p><p> <b>Customer Acquisition</b></p><p><blockquote><b>客户获取</b></blockquote></p><p> The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p><p><blockquote>该公司通过其直销队伍和在线服务追求大型企业客户和中小企业客户。</blockquote></p><p> As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p><p><blockquote>截至2021年6月30日，该公司已为中小企业市场的68,000多家客户和企业解决方案部门的3,000多家客户提供服务。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p><p><blockquote>销售及营销开支占总收入的百分比随著收入增加而下降，如下图所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Expenses vs. Revenue</b></p><p><blockquote><td><b>费用与收入</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Percentage</p><p><blockquote><td>百分比</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>32.4%</p><p><blockquote><td>32.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>33.1%</p><p><blockquote><td>33.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>43.1%</p><p><blockquote><td>43.1%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p><p><blockquote>销售和营销效率率（定义为每1美元的销售和营销支出产生多少美元的额外新收入）在最近的报告期内略有下降至1.1倍，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Efficiency Rate</b></p><p><blockquote><td><b>效率率</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Multiple</p><p><blockquote><td>多个的</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>1.1</p><p><blockquote><td>1.1</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>1.3</p><p><blockquote><td>1.3</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p><p><blockquote>40法则是软件行业的一条经验法则，即只要收入增长率和EBITDA百分比等于或超过40%，公司就处于可接受的增长/EBITDA轨迹上。</blockquote></p><p> ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p><p><blockquote>截至 2021 年 6 月 30 日，ESMT 的最新计算为 64%，因此该公司在这方面表现良好，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Rule of 40</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>40法则</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Calculation</b></p><p><blockquote><td><b>计算</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Recent Rev. Growth %</p><p><blockquote><tr><td>近期修订版增长率%</td></tr></blockquote></p><p></td>    <td>59%</p><p><blockquote><td>59%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EBITDA %</p><p><blockquote><tr><td>息税折旧摊销前利润百分比</td></tr></blockquote></p><p></td>    <td>5%</p><p><blockquote><td>5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Total</p><p><blockquote><tr><td>总的</td></tr></blockquote></p><p></td>    <td>64%</p><p><blockquote><td>64%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>截至2020年12月31日的年度，该公司以美元为基础的净收入保留率为124%，这是一个强劲的结果。</blockquote></p><p> The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p><p><blockquote>基于美元的净收入保留率指标衡量随着时间的推移从每个客户群体中产生了多少额外收入，因此超过100%的数字意味着公司随着时间的推移从同一客户群体中产生了更多收入，表明良好的产品/市场契合度以及高效的销售和营销工作。</blockquote></p><p> <b>Market &amp; Competition</b></p><p><blockquote><b>市场与竞争</b></blockquote></p><p> According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p><p><blockquote>根据Mordor Intelligence的2021年市场研究报告，2020年全球客户参与解决方案市场估计为155亿美元，预计到2026年将达到309亿美元。</blockquote></p><p> This represents a forecast CAGR of 12.65% from 2021 to 2026.</p><p><blockquote>这意味着2021年至2026年的预测CAGR为12.65%。</blockquote></p><p> The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p><p><blockquote>这一预期增长的主要驱动力是技术解决方案的增长，以改善客户通过他们用于与企业联系的任何设备的旅程。</blockquote></p><p> Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p><p><blockquote>此外，降低客户流失率的愿望导致了企业财务状况的改善和估值的增长。</blockquote></p><p> Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p><p><blockquote>下图显示了2018年美国不同行业客户流失率的变化：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p><p><blockquote>主要竞争或其他行业参与者包括：</blockquote></p><p> <ul>  <li>IBM(NYSE:IBM)</p><p><blockquote><ul><li>IBM（纽约证券交易所代码：IBM）</li></ul></blockquote></p><p></li>  <li>Microsoft(NASDAQ:MSFT)</p><p><blockquote><li>微软（纳斯达克股票代码：MSFT）</li></blockquote></p><p></li>  <li>Nuance(NASDAQ:NUAN)</p><p><blockquote><li>细微差别（纳斯达克股票代码：NUAN）</li></blockquote></p><p></li>  <li>Oracle(NYSE:ORCL)</p><p><blockquote><li>甲骨文（纽约证券交易所代码：ORCL）</li></blockquote></p><p></li>  <li>Salesforce(NYSE:CRM)</p><p><blockquote><li>Salesforce（纽约证券交易所代码：CRM）</li></blockquote></p><p></li>  <li>Avaya(NYSE:AVYA)</p><p><blockquote><li>阿瓦亚（纽约证券交易所代码：AVYA）</li></blockquote></p><p></li>  <li>Calabrio</p><p><blockquote><li>卡拉布里亚</li></blockquote></p><p></li>  <li>Aspect Software</p><p><blockquote><li>方面软件</li></blockquote></p><p></li>  <li>Genesys</p><p><blockquote><li>创世纪</li></blockquote></p><p></li>  <li>Verint Systems(NASDAQ:VRNT)</p><p><blockquote><li>Verint Systems（纳斯达克股票代码：VRNT）</li></blockquote></p><p></li>  <li>NICE Ltd.(NASDAQ:NICE)</p><p><blockquote><li>尼斯有限公司（纳斯达克股票代码：NICE）</li></blockquote></p><p></li>  <li>OpenText</p><p><blockquote><li>打开文本</li></blockquote></p><p></li>  <li>Pegasystems(NASDAQ:PEGA)</p><p><blockquote><li>飞马系统公司（纳斯达克股票代码：PEGA）</li></blockquote></p><p></li>  <li>Others</p><p><blockquote><li>其他</li></blockquote></p><p></p><p></li> </ul> <b>Financial Performance</b></p><p><blockquote><b>财务表现</b></blockquote></p><p> EngageSmart's recent financial results can be summarized as follows:</p><p><blockquote>EngageSmart近期的财务业绩可总结如下：</blockquote></p><p> <ul>  <li>Growing topline revenue</p><p><blockquote><ul><li>营收增长</li></ul></blockquote></p><p></li>  <li>Increasing gross profit and high gross margin</p><p><blockquote><li>毛利增长及高毛利率</li></blockquote></p><p></li>  <li>Growing operating profit and net income</p><p><blockquote><li>营业利润和净利润不断增长</li></blockquote></p><p></li>  <li>Increasing cash flow from operations</p><p><blockquote><li>增加经营现金流</li></blockquote></p><p></li> </ul> Below are relevant financial results derived from the firm's registration statement:</p><p><blockquote>以下为公司注册声明得出的相关财务业绩：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Total Revenue</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>总收入</b></td></tr></tbody></table></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Total Revenue</p><p><blockquote><td>总收入</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与先前相比的%方差</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 99,171,000</p><p><blockquote><td>$99,171,000</td></blockquote></p><p></td>    <td>58.6%</p><p><blockquote><td>58.6%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 146,557,000</p><p><blockquote><td>$146,557,000</td></blockquote></p><p></td>    <td>77.8%</p><p><blockquote><td>77.8%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 82,432,000</p><p><blockquote><td>$82,432,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>毛利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Profit (Loss)</p><p><blockquote><td>毛利（亏损）</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与先前相比的%方差</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 73,673,000</p><p><blockquote><td>$73,673,000</td></blockquote></p><p></td>    <td>61.4%</p><p><blockquote><td>61.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 108,964,000</p><p><blockquote><td>$108,964,000</td></blockquote></p><p></td>    <td>89.2%</p><p><blockquote><td>89.2%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 57,591,000</p><p><blockquote><td>$57,591,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Margin</b></p><p><blockquote><tr></tr><tr><td><b>毛利率</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Margin</p><p><blockquote><td>毛利率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>74.29%</p><p><blockquote><td>74.29%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>74.35%</p><p><blockquote><td>74.35%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>69.86%</p><p><blockquote><td>69.86%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Operating Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>营业溢利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Operating Profit (Loss)</p><p><blockquote><td>营业溢利（亏损）</td></blockquote></p><p></td>    <td>Operating Margin</p><p><blockquote><td>营业利润率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 5,001,000</p><p><blockquote><td>$5,001,000</td></blockquote></p><p></td>    <td>5.0%</p><p><blockquote><td>5.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 648,000</p><p><blockquote><td>$648,000</td></blockquote></p><p></td>    <td>0.4%</p><p><blockquote><td>0.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (50,398,000)</p><p><blockquote><td>$(50,398,000)</td></blockquote></p><p></td>    <td>-61.1%</p><p><blockquote><td>-61.1%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Net Income (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>净收入（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Net Income (Loss)</p><p><blockquote><td>净收入（亏损）</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 274,000</p><p><blockquote><td>$274,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ (6,678,000)</p><p><blockquote><td>$(6,678,000)</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (53,598,000)</p><p><blockquote><td>$(53,598,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Cash Flow From Operations</b></p><p><blockquote><tr></tr><tr><td><b>经营现金流量</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Cash Flow From Operations</p><p><blockquote><td>经营现金流量</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日</td></tr></blockquote></p><p></td>    <td>$ 12,044,000</p><p><blockquote><td>$12,044,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 19,645,000</p><p><blockquote><td>$19,645,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (1,427,000)</p><p><blockquote><td>$(1,427,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td>(Glossary Of Terms)</p><p><blockquote><tr></tr><tr><td>（术语表）</td></tr></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p><p><blockquote>截至2021年6月30日，EngageSmart拥有3180万美元现金和1.518亿美元总负债。</blockquote></p><p> Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月内，自由现金流为2520万美元。</blockquote></p><p> <b>IPO Details</b></p><p><blockquote><b>IPO详情</b></blockquote></p><p> ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p><p><blockquote>ESMT 打算出售 1300 万股股票，出售股东将以每股 24.00 美元的拟议中点价格发售 155 万股普通股，总收益约为 3.49 亿美元，不包括出售惯例承销商期权。</blockquote></p><p> New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p><p><blockquote>新的潜在投资者 Dragoneer Investment Group 已表示有兴趣以拟议的中点价格购买 210 万股此次发行的股票，即约 5040 万美元。</blockquote></p><p> Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p><p><blockquote>假设在拟议价格范围的中点成功IPO，该公司在IPO时的企业价值（不包括承销商期权）将约为37亿美元。</blockquote></p><p> Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p><p><blockquote>撇除承销商期权和私募股份或限制性股票（如有）的影响，流通股与流通股的比率将约为9.04%。低于 10% 的数字通常被认为是“低流通量”股票，可能会受到大幅价格波动的影响。</blockquote></p><p> Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p><p><blockquote>根据该公司最新的监管文件，它计划将净收益用途如下：</blockquote></p><p>   We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.    Source: SEC  Management's presentation of the company roadshow isavailable here.</p><p><blockquote>我们预计将使用此次发行的所得款项净额全额偿还信贷额度项下约 1.142 亿美元的未偿还借款。我们目前打算将本次发行的剩余净收益用于一般公司用途，包括为我们的增长提供资金、收购互补业务、产品、服务或技术、营运资金、运营费用和资本支出。资料来源：SEC管理层对公司路演的介绍可在此处获得。</blockquote></p><p> Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p><p><blockquote>关于未决法律诉讼，截至监管备案日，管理层尚未披露针对该公司的任何法律索赔。</blockquote></p><p> Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p><p><blockquote>此次IPO的上市承销商包括摩根大通、高盛、美国银行证券和其他投资银行。</blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p></p><p> Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p><p><blockquote>下表是该公司首次公开募股时的相关资本和估值指标，不包括承销商选择权的影响：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Measure [TTM]</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>测量[TTM]</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Amount</b></p><p><blockquote><td><b>数量</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Market Capitalization at IPO</p><p><blockquote><tr><td>首次公开发售时的市值</td></tr></blockquote></p><p></td>    <td>$3,862,956,720</p><p><blockquote><td>$3,862,956,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Enterprise Value</p><p><blockquote><tr><td>企业价值</td></tr></blockquote></p><p></td>    <td>$3,656,695,720</p><p><blockquote><td>$3,656,695,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售</td></tr></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>电动汽车/收入</td></tr></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>首页 / EBITDA</td></tr></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Float To Outstanding Shares Ratio</p><p><blockquote><tr><td>流通股与流通股比率</td></tr></blockquote></p><p></td>    <td>9.04%</p><p><blockquote><td>9.04%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Proposed IPO Midpoint Price per Share</p><p><blockquote><tr><td>建议IPO每股中点价格</td></tr></blockquote></p><p></td>    <td>$24.00</p><p><blockquote><td>$24.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Net Free Cash Flow</p><p><blockquote><tr><td>净自由现金流量</td></tr></blockquote></p><p></td>    <td>$25,236,000</p><p><blockquote><td>$25,236,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>Free Cash Flow Yield Per Share</p><p><blockquote><tr><td>每股自由现金流收益率</td></tr></blockquote></p><p></td>    <td>0.65%</p><p><blockquote><td>0.65%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> Source: SEC</p><p><blockquote><tr></tr>资料来源：SEC</blockquote></p><p> As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p><p><blockquote>作为参考，一个潜在的公众可比将是尼斯有限公司；以下是其主要估值指标的比较：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Metric</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>度量</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Nice Ltd.</b></p><p><blockquote><td><b>尼斯有限公司</b></td></blockquote></p><p></td>    <td><b>EngageSmart</b></p><p><blockquote><td><b>参与智能</b></td></blockquote></p><p></td>    <td><b>Variance</b></p><p><blockquote><td><b>差异</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售</td></tr></blockquote></p><p></td>    <td>11.01</p><p><blockquote><td>11.01</td></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>    <td>91.5%</p><p><blockquote><td>91.5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>电动汽车/收入</td></tr></blockquote></p><p></td>    <td>10.67</p><p><blockquote><td>10.67</td></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>    <td>87.1%</p><p><blockquote><td>87.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>首页 / EBITDA</td></tr></blockquote></p><p></td>    <td>41.73</p><p><blockquote><td>41.73</td></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>    <td>804.3%</p><p><blockquote><td>804.3%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$3.05</p><p><blockquote><td>$3.05</td></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>    <td>-100.0%</p><p><blockquote><td>-100.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>5.3%</p><p><blockquote><td>5.3%</td></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>    <td>1003.34%</p><p><blockquote><td>1003.34%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> (S-1/A andSeeking Alpha)</p><p><blockquote><tr></tr>（S-1/A和Seeking Alpha）</blockquote></p><p> <b>Commentary</b></p><p><blockquote><b>评论</b></blockquote></p><p> ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p><p><blockquote>ESMT 正在寻求公共投资来偿还债务并用于其一般未具体说明的企业增长计划。</blockquote></p><p> The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p><p><blockquote>该公司的财务数据显示营收增长强劲，毛利润增长、营业利润和净利润略有波动，运营现金流也在增长。</blockquote></p><p> Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月的自由现金流为2520万美元。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p><p><blockquote>随着收入的增加，销售和营销费用占总收入的百分比有所下降，其销售和营销效率在最近六个月报告期内下降至 1.1 倍。</blockquote></p><p> The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>该公司的 40 法则表现出色，截至 2020 年 12 月 31 日止年度的美元净收入保留率为 124%，这是一个强劲的结果。</blockquote></p><p> The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p><p><blockquote>向企业提供客户参与软件的市场机会很大，预计到2026年底规模将翻一番，因此该公司将受益于强劲的行业增长势头。</blockquote></p><p> JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p><p><blockquote>摩根大通是主承销商，该公司在过去 12 个月内牵头的 IPO 自 IPO 以来平均回报率为 20.4%。这是期内所有主要承销商的中级表现。</blockquote></p><p> The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p><p><blockquote>该公司前景面临的主要风险是大公司有能力将部分服务捆绑到现有产品中，从而导致定价压力下行和竞争加剧。</blockquote></p><p> As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p><p><blockquote>至于估值，与部分竞争对手 NICE 相比，ESMT 的收入增长速度要快得多，因此其更高的收入倍数似乎是合理的。</blockquote></p><p> Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p><p><blockquote>此外，该公司的增长速度比竞争对手 Pegasystems 快得多，因此似乎正在从这些公司和客户参与市场的其他公司手中夺取市场份额。</blockquote></p><p> Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p><p><blockquote>鉴于该公司与竞争对手相比强劲的增长和运营指标，虽然 IPO 并不便宜，但值得考虑。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159478468","content_text":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.\nManagement is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.\nThe company's primary offerings include:\n\nSimplePractice - Wellness\nInvoiceCloud - Government, Utilities and Financial Services\nHealthPay24 - Healthcare\nDonorDrive - Non-profit and Corporate Fundraising\n\nEngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.\nCustomer Acquisition\nThe firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.\nAs of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:\n\n\n\n\nSelling and Marketing\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nSix Mos. Ended June 30, 2021\n32.4%\n\n\n2020\n33.1%\n\n\n2019\n43.1%\n\n\n\nSource: SEC\nThe Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:\n\n\n\n\nSelling and Marketing\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nSix Mos. Ended June 30, 2021\n1.1\n\n\n2020\n1.3\n\n\n\nSource: SEC\nThe Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.\nESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:\n\n\n\n\nRule of 40\nCalculation\n\n\nRecent Rev. Growth %\n59%\n\n\nEBITDA %\n5%\n\n\nTotal\n64%\n\n\n\nSource: SEC\nThe firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.\nMarket & Competition\nAccording to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.\nThis represents a forecast CAGR of 12.65% from 2021 to 2026.\nThe main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.\nAlso, a desire to reduce customer churn rate results in improved business financials and growing valuation.\nBelow is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:\nMajor competitive or other industry participants include:\n\nIBM(NYSE:IBM)\nMicrosoft(NASDAQ:MSFT)\nNuance(NASDAQ:NUAN)\nOracle(NYSE:ORCL)\nSalesforce(NYSE:CRM)\nAvaya(NYSE:AVYA)\nCalabrio\nAspect Software\nGenesys\nVerint Systems(NASDAQ:VRNT)\nNICE Ltd.(NASDAQ:NICE)\nOpenText\nPegasystems(NASDAQ:PEGA)\nOthers\n\nFinancial Performance\nEngageSmart's recent financial results can be summarized as follows:\n\nGrowing topline revenue\nIncreasing gross profit and high gross margin\nGrowing operating profit and net income\nIncreasing cash flow from operations\n\nBelow are relevant financial results derived from the firm's registration statement:\n\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 99,171,000\n58.6%\n\n\n2020\n$ 146,557,000\n77.8%\n\n\n2019\n$ 82,432,000\n\n\n\nGross Profit (Loss)\n\n\nPeriod\nGross Profit (Loss)\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 73,673,000\n61.4%\n\n\n2020\n$ 108,964,000\n89.2%\n\n\n2019\n$ 57,591,000\n\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nSix Mos. Ended June 30, 2021\n74.29%\n\n\n2020\n74.35%\n\n\n2019\n69.86%\n\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nSix Mos. Ended June 30, 2021\n$ 5,001,000\n5.0%\n\n\n2020\n$ 648,000\n0.4%\n\n\n2019\n$ (50,398,000)\n-61.1%\n\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nSix Mos. Ended June 30, 2021\n$ 274,000\n\n\n2020\n$ (6,678,000)\n\n\n2019\n$ (53,598,000)\n\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nSix Mos. Ended June 30, 2021\n$ 12,044,000\n\n\n2020\n$ 19,645,000\n\n\n2019\n$ (1,427,000)\n\n\n\n(Glossary Of Terms)\n\n\n\nSource: SEC\nAs of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $25.2 million.\nIPO Details\nESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.\nNew potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.\nAssuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.\nPer the firm's most recent regulatory filing, it plans to use the net proceeds as follows:\n\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n\n\n Source: SEC\n\nManagement's presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.\nListed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.\nValuation Metrics\nBelow is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:\n\n\n\n\nMeasure [TTM]\nAmount\n\n\nMarket Capitalization at IPO\n$3,862,956,720\n\n\nEnterprise Value\n$3,656,695,720\n\n\nPrice / Sales\n21.09\n\n\nEV / Revenue\n19.96\n\n\nEV / EBITDA\n377.37\n\n\nEarnings Per Share\n$0.00\n\n\nFloat To Outstanding Shares Ratio\n9.04%\n\n\nProposed IPO Midpoint Price per Share\n$24.00\n\n\nNet Free Cash Flow\n$25,236,000\n\n\nFree Cash Flow Yield Per Share\n0.65%\n\n\nRevenue Growth Rate\n58.59%\n\n\n\n\nSource: SEC\nAs a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:\n\n\n\n\nMetric\nNice Ltd.\nEngageSmart\nVariance\n\n\nPrice / Sales\n11.01\n21.09\n91.5%\n\n\nEV / Revenue\n10.67\n19.96\n87.1%\n\n\nEV / EBITDA\n41.73\n377.37\n804.3%\n\n\nEarnings Per Share\n$3.05\n$0.00\n-100.0%\n\n\nRevenue Growth Rate\n5.3%\n58.59%\n1003.34%\n\n\n\n\n(S-1/A andSeeking Alpha)\nCommentary\nESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.\nThe firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.\nFree cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.\nThe company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.\nJPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.\nAs for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.\nAlso, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.\nGiven the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.","news_type":1,"symbols_score_info":{"ESMT":0.9}},"isVote":1,"tweetType":1,"viewCount":1071,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869427331,"gmtCreate":1632318298823,"gmtModify":1632801287812,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Go go go!","listText":"Go go go!","text":"Go go go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/869427331","repostId":"1146187405","repostType":4,"isVote":1,"tweetType":1,"viewCount":877,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887565006,"gmtCreate":1632067028805,"gmtModify":1632803046234,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Yeah WFH is great!","listText":"Yeah WFH is great!","text":"Yeah WFH is great!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/887565006","repostId":"2168152508","repostType":4,"isVote":1,"tweetType":1,"viewCount":1425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887912518,"gmtCreate":1631957258234,"gmtModify":1632805085645,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Prices to go up?","listText":"Prices to go up?","text":"Prices to go up?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/887912518","repostId":"2168574191","repostType":4,"isVote":1,"tweetType":1,"viewCount":886,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885521130,"gmtCreate":1631804332120,"gmtModify":1631888786987,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Should we buy or wait???","listText":"Should we buy or wait???","text":"Should we buy or wait???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/885521130","repostId":"2167951084","repostType":4,"isVote":1,"tweetType":1,"viewCount":755,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886032559,"gmtCreate":1631537237171,"gmtModify":1631888786999,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Time to buy?","listText":"Time to buy?","text":"Time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/886032559","repostId":"1129341543","repostType":4,"repost":{"id":"1129341543","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631534652,"share":"https://www.laohunote.com/m/news/1129341543?lang=zh_CN&edition=full","pubTime":"2021-09-13 20:04","market":"us","language":"en","title":"Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129341543","media":"Tiger Newspress","summary":"U.S. stock index futures rose on Monday after the S&P 500 logged its worst week in more than two mon","content":"<p>U.S. stock index futures rose on Monday after the S&amp;P 500 logged its worst week in more than two months, with investors keeping a close eye on inflation as well as monetary and tax policies.</p><p><blockquote>美国股指期货周一上涨，此前标普500录得两个多月来最糟糕的一周，投资者密切关注通胀以及货币和税收政策。</blockquote></p><p> S&amp;P 500 E-minis were up 23.25 points, or 0.52% at 08:00 am ET. Dow E-minis were up 183 points, or 0.53%, while Nasdaq 100 E-minis were up 75 points, or 0.49%.</p><p><blockquote>截至美国东部时间上午 08:00，标普500 E-Mini 上涨 23.25 点，涨幅 0.52%。道琼斯电子迷你指数上涨 183 点，涨幅 0.53%，纳斯达克 100 电子迷你指数上涨 75 点，涨幅 0.49%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2d51dd22d532e1b98f0ecae05c1f7a3e\" tg-width=\"1080\" tg-height=\"416\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Apple Inc rose 0.9% in premarket trading after a mixed court ruling in Epic Games’ antitrust case against the iPhone maker knocked nearly $90 billion off its market value on Friday.</p><p><blockquote>周五，法院对 Epic Games 针对 iPhone 制造商的反垄断案做出了喜忧参半的裁决，苹果公司的市值蒸发了近 900 亿美元，该公司在盘前交易中上涨了 0.9%。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Virgin Galactic(SPCE)</b> – Virgin Galactic is delaying its first commercial research space mission after a third-party supplier warned of a potential defect in a component of the flight control system. Virgin Galactic shares slid 3.3% in the premarket.</p><p><blockquote><b>维珍银河(SPCE)</b>– 在第三方供应商警告飞行控制系统的一个组件可能存在缺陷后，维珍银河推迟了其首次商业研究太空任务。维珍银河股价盘前下跌 3.3%。</blockquote></p><p> <b>Dell Technologies(DELL) </b>– Dell added 1.9% in premarket action after Goldman Sachs added the computer maker’s stock to its “Conviction Buy” list. Goldman cited strong cash flow generation and debt paydown plans, among other factors.</p><p><blockquote><b>戴尔科技(DELL)</b>- 在高盛将这家电脑制造商的股票列入其 “坚定买入 ”名单后，戴尔在盘前上涨了 1.9%。高盛列举了强劲的现金流生成和债务偿还计划等因素。</blockquote></p><p> <b>TransUnion(TRU)</b> – TransUnion announced a deal to buy closely held information services company Neustar for $3.1 billion in cash. The credit reporting agency expects the deal to close during the fourth quarter.</p><p><blockquote><b>跨联盟（TRU）</b>– TransUnion 宣布以 31 亿美元现金收购少数持股的信息服务公司 Neustar。该信用报告机构预计该交易将在第四季度完成。</blockquote></p><p> <b>Viacom(VIAC) </b>– Viacom is planning a revamp of its Paramount Pictures unit, according to people familiar with the matter who spoke to The Wall Street Journal. The revamp, which would separate the TV and film operations, could be announced as soon as today. Viacom rose 1% in the premarket.</p><p><blockquote><b>维亚康姆(VIAC)</b>– 据知情人士向《华尔街日报》透露，维亚康姆正计划对其派拉蒙影业部门进行改造。这项改革将把电视和电影业务分开，最早可能在今天宣布。维亚康姆盘前上涨 1%。</blockquote></p><p> <b>Kansas City Southern(KSU)</b> – Kansas City Southern said&nbsp;the latest takeover bid&nbsp;from&nbsp;Canadian Pacific Railway(CP) is superior to the one it previously agreed to with&nbsp;Canadian National Railway(CNI). Canadian National now has five days to improve its offer, should it choose to do so. Canadian Pacific rallied 0.9% in premarket trading.</p><p><blockquote><b>堪萨斯城南部 (KSU)</b>– 堪萨斯城南方公司表示，加拿大太平洋铁路公司 (CP) 的最新收购要约优于其之前与加拿大国家铁路公司 (CNI) 达成的要约。如果加拿大国家航空愿意这样做，现在有五天的时间来改进其报价。加拿大太平洋航空在盘前交易中上涨 0.9%。</blockquote></p><p> <b>Walt Disney(DIS)</b> – Disney will show the remainder of its 2021 movie releases exclusively in theaters, rather than making them simultaneously available on its Disney+ streaming service. Disney’s “Shang-Chi and the Legend of the 10 Rings” topped the weekend box office once again following its record Labor Day weekend performance, with that movie showing exclusively in theaters.</p><p><blockquote><b>华特·迪士尼</b>– 迪士尼将在影院独家放映其 2021 年上映的剩余电影，而不是在其 Disney+ 流媒体服务上同时上映。迪士尼的《尚气与十环传奇》继劳动节周末创下纪录后，再次荣登周末票房榜首，该片在影院独家上映。</blockquote></p><p> <b>Alibaba(BABA)</b> – Alibaba fell 1.7% in premarket action.</p><p><blockquote><b>阿里巴巴-SW（巴巴）</b>– 阿里巴巴-SW盘前下跌 1.7%。</blockquote></p><p> <b>Apple(AAPL)</b> – Epic Games will appeal Friday’s ruling that Apple’s app store was not an illegal monopoly. Epic did win a partial victory in the case, with the judge ruling that Apple must allow developers to include external payment links.</p><p><blockquote><b>苹果（AAPL）</b>- Epic Games 将对周五关于苹果 app store 不构成非法垄断的裁决提出上诉。Epic确实在此案中赢得了部分胜利，法官裁定苹果必须允许开发商包含外部支付链接。</blockquote></p><p> <b>Carlyle Group(CG)</b> – Carlyle is considering a $6 billion sale or initial public offering for packaging company Novolex, according to a Bloomberg report. The private-equity firm bought Novolex for an undisclosed amount in November 2016.</p><p><blockquote><b>凯雷集团(CG)</b>– 据彭博社报道，凯雷正在考虑以 60 亿美元的价格出售或首次公开募股包装公司 Novolex。这家私募股权公司于 2016 年 11 月以未披露的金额收购了 Novolex。</blockquote></p><p> <b>MGM Resorts(MGM)</b> – MGM rose 1.5% in the premarket after Bernstein upgraded the resort operator’s stock to “outperform” from “market perform,” citing its strong presence in the gaming and sports betting industry as well as moves to divest the company’s real estate portfolio.</p><p><blockquote><b>米高梅度假村（MGM）</b>- 米高梅在盘前上涨 1.5%，此前伯恩斯坦将这家度假村运营商的股票评级从 “大盘表现 ”上调至 “跑赢大盘”，理由是米高梅在博彩和体育博彩业的强大影响力以及剥离公司房地产投资组合的举措。</blockquote></p><p> <b>Pfizer(PFE) </b>– Pfizer’s Covid-19 vaccine – developed in conjunction with German partner&nbsp;BioNTech(BNTX) – could be authorized for use in children aged 5-11 as soon as next month, according to two sources familiar with the situation who spoke to Reuters. Pfizer is expected to have enough study data by then to submit an application for emergency use authorization to the Food and Drug Administration. BioNTech added 1.1% in premarket trading.</p><p><blockquote><b>辉瑞(PFE)</b>- 据两位熟悉情况的消息人士向路透社透露，辉瑞公司与德国合作伙伴 BioNTech（BNTX）联合开发的 Covid-19 疫苗最早可能在下个月获准用于 5-11 岁的儿童。预计届时辉瑞将有足够的研究数据向食品药品监督管理局提交紧急使用授权申请。BioNTech 在盘前交易中上涨 1.1%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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\">\nToplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-13 20:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stock index futures rose on Monday after the S&amp;P 500 logged its worst week in more than two months, with investors keeping a close eye on inflation as well as monetary and tax policies.</p><p><blockquote>美国股指期货周一上涨，此前标普500录得两个多月来最糟糕的一周，投资者密切关注通胀以及货币和税收政策。</blockquote></p><p> S&amp;P 500 E-minis were up 23.25 points, or 0.52% at 08:00 am ET. Dow E-minis were up 183 points, or 0.53%, while Nasdaq 100 E-minis were up 75 points, or 0.49%.</p><p><blockquote>截至美国东部时间上午 08:00，标普500 E-Mini 上涨 23.25 点，涨幅 0.52%。道琼斯电子迷你指数上涨 183 点，涨幅 0.53%，纳斯达克 100 电子迷你指数上涨 75 点，涨幅 0.49%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2d51dd22d532e1b98f0ecae05c1f7a3e\" tg-width=\"1080\" tg-height=\"416\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Apple Inc rose 0.9% in premarket trading after a mixed court ruling in Epic Games’ antitrust case against the iPhone maker knocked nearly $90 billion off its market value on Friday.</p><p><blockquote>周五，法院对 Epic Games 针对 iPhone 制造商的反垄断案做出了喜忧参半的裁决，苹果公司的市值蒸发了近 900 亿美元，该公司在盘前交易中上涨了 0.9%。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Virgin Galactic(SPCE)</b> – Virgin Galactic is delaying its first commercial research space mission after a third-party supplier warned of a potential defect in a component of the flight control system. Virgin Galactic shares slid 3.3% in the premarket.</p><p><blockquote><b>维珍银河(SPCE)</b>– 在第三方供应商警告飞行控制系统的一个组件可能存在缺陷后，维珍银河推迟了其首次商业研究太空任务。维珍银河股价盘前下跌 3.3%。</blockquote></p><p> <b>Dell Technologies(DELL) </b>– Dell added 1.9% in premarket action after Goldman Sachs added the computer maker’s stock to its “Conviction Buy” list. Goldman cited strong cash flow generation and debt paydown plans, among other factors.</p><p><blockquote><b>戴尔科技(DELL)</b>- 在高盛将这家电脑制造商的股票列入其 “坚定买入 ”名单后，戴尔在盘前上涨了 1.9%。高盛列举了强劲的现金流生成和债务偿还计划等因素。</blockquote></p><p> <b>TransUnion(TRU)</b> – TransUnion announced a deal to buy closely held information services company Neustar for $3.1 billion in cash. The credit reporting agency expects the deal to close during the fourth quarter.</p><p><blockquote><b>跨联盟（TRU）</b>– TransUnion 宣布以 31 亿美元现金收购少数持股的信息服务公司 Neustar。该信用报告机构预计该交易将在第四季度完成。</blockquote></p><p> <b>Viacom(VIAC) </b>– Viacom is planning a revamp of its Paramount Pictures unit, according to people familiar with the matter who spoke to The Wall Street Journal. The revamp, which would separate the TV and film operations, could be announced as soon as today. Viacom rose 1% in the premarket.</p><p><blockquote><b>维亚康姆(VIAC)</b>– 据知情人士向《华尔街日报》透露，维亚康姆正计划对其派拉蒙影业部门进行改造。这项改革将把电视和电影业务分开，最早可能在今天宣布。维亚康姆盘前上涨 1%。</blockquote></p><p> <b>Kansas City Southern(KSU)</b> – Kansas City Southern said&nbsp;the latest takeover bid&nbsp;from&nbsp;Canadian Pacific Railway(CP) is superior to the one it previously agreed to with&nbsp;Canadian National Railway(CNI). Canadian National now has five days to improve its offer, should it choose to do so. Canadian Pacific rallied 0.9% in premarket trading.</p><p><blockquote><b>堪萨斯城南部 (KSU)</b>– 堪萨斯城南方公司表示，加拿大太平洋铁路公司 (CP) 的最新收购要约优于其之前与加拿大国家铁路公司 (CNI) 达成的要约。如果加拿大国家航空愿意这样做，现在有五天的时间来改进其报价。加拿大太平洋航空在盘前交易中上涨 0.9%。</blockquote></p><p> <b>Walt Disney(DIS)</b> – Disney will show the remainder of its 2021 movie releases exclusively in theaters, rather than making them simultaneously available on its Disney+ streaming service. Disney’s “Shang-Chi and the Legend of the 10 Rings” topped the weekend box office once again following its record Labor Day weekend performance, with that movie showing exclusively in theaters.</p><p><blockquote><b>华特·迪士尼</b>– 迪士尼将在影院独家放映其 2021 年上映的剩余电影，而不是在其 Disney+ 流媒体服务上同时上映。迪士尼的《尚气与十环传奇》继劳动节周末创下纪录后，再次荣登周末票房榜首，该片在影院独家上映。</blockquote></p><p> <b>Alibaba(BABA)</b> – Alibaba fell 1.7% in premarket action.</p><p><blockquote><b>阿里巴巴-SW（巴巴）</b>– 阿里巴巴-SW盘前下跌 1.7%。</blockquote></p><p> <b>Apple(AAPL)</b> – Epic Games will appeal Friday’s ruling that Apple’s app store was not an illegal monopoly. Epic did win a partial victory in the case, with the judge ruling that Apple must allow developers to include external payment links.</p><p><blockquote><b>苹果（AAPL）</b>- Epic Games 将对周五关于苹果 app store 不构成非法垄断的裁决提出上诉。Epic确实在此案中赢得了部分胜利，法官裁定苹果必须允许开发商包含外部支付链接。</blockquote></p><p> <b>Carlyle Group(CG)</b> – Carlyle is considering a $6 billion sale or initial public offering for packaging company Novolex, according to a Bloomberg report. The private-equity firm bought Novolex for an undisclosed amount in November 2016.</p><p><blockquote><b>凯雷集团(CG)</b>– 据彭博社报道，凯雷正在考虑以 60 亿美元的价格出售或首次公开募股包装公司 Novolex。这家私募股权公司于 2016 年 11 月以未披露的金额收购了 Novolex。</blockquote></p><p> <b>MGM Resorts(MGM)</b> – MGM rose 1.5% in the premarket after Bernstein upgraded the resort operator’s stock to “outperform” from “market perform,” citing its strong presence in the gaming and sports betting industry as well as moves to divest the company’s real estate portfolio.</p><p><blockquote><b>米高梅度假村（MGM）</b>- 米高梅在盘前上涨 1.5%，此前伯恩斯坦将这家度假村运营商的股票评级从 “大盘表现 ”上调至 “跑赢大盘”，理由是米高梅在博彩和体育博彩业的强大影响力以及剥离公司房地产投资组合的举措。</blockquote></p><p> <b>Pfizer(PFE) </b>– Pfizer’s Covid-19 vaccine – developed in conjunction with German partner&nbsp;BioNTech(BNTX) – could be authorized for use in children aged 5-11 as soon as next month, according to two sources familiar with the situation who spoke to Reuters. Pfizer is expected to have enough study data by then to submit an application for emergency use authorization to the Food and Drug Administration. BioNTech added 1.1% in premarket trading.</p><p><blockquote><b>辉瑞(PFE)</b>- 据两位熟悉情况的消息人士向路透社透露，辉瑞公司与德国合作伙伴 BioNTech（BNTX）联合开发的 Covid-19 疫苗最早可能在下个月获准用于 5-11 岁的儿童。预计届时辉瑞将有足够的研究数据向食品药品监督管理局提交紧急使用授权申请。BioNTech 在盘前交易中上涨 1.1%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴",".SPX":"S&P 500 Index","CG":"凯雷","SPCE":"维珍银河","DELL":"戴尔","BNTX":"BioNTech SE",".DJI":"道琼斯","DIS":"迪士尼","AAPL":"苹果","PFE":"辉瑞",".IXIC":"NASDAQ Composite","TRU":"TransUnion","MGM":"美高梅"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129341543","content_text":"U.S. stock index futures rose on Monday after the S&P 500 logged its worst week in more than two months, with investors keeping a close eye on inflation as well as monetary and tax policies.\nS&P 500 E-minis were up 23.25 points, or 0.52% at 08:00 am ET. Dow E-minis were up 183 points, or 0.53%, while Nasdaq 100 E-minis were up 75 points, or 0.49%.\n\nApple Inc rose 0.9% in premarket trading after a mixed court ruling in Epic Games’ antitrust case against the iPhone maker knocked nearly $90 billion off its market value on Friday.\nStocks making the biggest moves in the premarket:\nVirgin Galactic(SPCE) – Virgin Galactic is delaying its first commercial research space mission after a third-party supplier warned of a potential defect in a component of the flight control system. Virgin Galactic shares slid 3.3% in the premarket.\nDell Technologies(DELL) – Dell added 1.9% in premarket action after Goldman Sachs added the computer maker’s stock to its “Conviction Buy” list. Goldman cited strong cash flow generation and debt paydown plans, among other factors.\nTransUnion(TRU) – TransUnion announced a deal to buy closely held information services company Neustar for $3.1 billion in cash. The credit reporting agency expects the deal to close during the fourth quarter.\nViacom(VIAC) – Viacom is planning a revamp of its Paramount Pictures unit, according to people familiar with the matter who spoke to The Wall Street Journal. The revamp, which would separate the TV and film operations, could be announced as soon as today. Viacom rose 1% in the premarket.\nKansas City Southern(KSU) – Kansas City Southern said the latest takeover bid from Canadian Pacific Railway(CP) is superior to the one it previously agreed to with Canadian National Railway(CNI). Canadian National now has five days to improve its offer, should it choose to do so. Canadian Pacific rallied 0.9% in premarket trading.\nWalt Disney(DIS) – Disney will show the remainder of its 2021 movie releases exclusively in theaters, rather than making them simultaneously available on its Disney+ streaming service. Disney’s “Shang-Chi and the Legend of the 10 Rings” topped the weekend box office once again following its record Labor Day weekend performance, with that movie showing exclusively in theaters.\nAlibaba(BABA) – Alibaba fell 1.7% in premarket action.\nApple(AAPL) – Epic Games will appeal Friday’s ruling that Apple’s app store was not an illegal monopoly. Epic did win a partial victory in the case, with the judge ruling that Apple must allow developers to include external payment links.\nCarlyle Group(CG) – Carlyle is considering a $6 billion sale or initial public offering for packaging company Novolex, according to a Bloomberg report. The private-equity firm bought Novolex for an undisclosed amount in November 2016.\nMGM Resorts(MGM) – MGM rose 1.5% in the premarket after Bernstein upgraded the resort operator’s stock to “outperform” from “market perform,” citing its strong presence in the gaming and sports betting industry as well as moves to divest the company’s real estate portfolio.\nPfizer(PFE) – Pfizer’s Covid-19 vaccine – developed in conjunction with German partner BioNTech(BNTX) – could be authorized for use in children aged 5-11 as soon as next month, according to two sources familiar with the situation who spoke to Reuters. Pfizer is expected to have enough study data by then to submit an application for emergency use authorization to the Food and Drug Administration. BioNTech added 1.1% in premarket trading.","news_type":1,"symbols_score_info":{"VIAC":0.9,"CG":0.9,"BABA":0.9,"AAPL":0.9,"BNTX":0.9,"NQmain":0.9,"YMmain":0.9,"ESmain":0.9,"PFE":0.9,".DJI":0.9,"SPCE":0.9,"TRU":0.9,"DIS":0.9,".SPX":0.9,".IXIC":0.9,"DELL":0.9,"MGM":0.9,"KSU":0.9}},"isVote":1,"tweetType":1,"viewCount":792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888140587,"gmtCreate":1631462334649,"gmtModify":1631888787016,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Good Luck","listText":"Good Luck","text":"Good Luck","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/888140587","repostId":"1160482100","repostType":4,"isVote":1,"tweetType":1,"viewCount":880,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883587480,"gmtCreate":1631255617140,"gmtModify":1631888787026,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Time to buy?","listText":"Time to buy?","text":"Time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/883587480","repostId":"2166120346","repostType":4,"isVote":1,"tweetType":1,"viewCount":959,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880171526,"gmtCreate":1631027756865,"gmtModify":1631888787038,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Buy?","listText":"Buy?","text":"Buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/880171526","repostId":"1139582863","repostType":4,"isVote":1,"tweetType":1,"viewCount":1271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814374037,"gmtCreate":1630773915129,"gmtModify":1631888787077,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814374037","repostId":"1186003479","repostType":4,"isVote":1,"tweetType":1,"viewCount":781,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":374953449,"gmtCreate":1619411634181,"gmtModify":1634273678384,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/374953449","repostId":"1184404050","repostType":4,"isVote":1,"tweetType":1,"viewCount":694,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185329646,"gmtCreate":1623634048585,"gmtModify":1631884324970,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Hope the price will go up! Please like and comment","listText":"Hope the price will go up! Please like and comment","text":"Hope the price will go up! Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/185329646","repostId":"2143857187","repostType":4,"isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137864887,"gmtCreate":1622337833249,"gmtModify":1631885485944,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Time to buy?","listText":"Time to buy?","text":"Time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/137864887","repostId":"2138765488","repostType":4,"isVote":1,"tweetType":1,"viewCount":795,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379834195,"gmtCreate":1618714125117,"gmtModify":1634291307683,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Like n comment too","listText":"Like n comment too","text":"Like n comment too","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/379834195","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://www.laohunote.com/m/news/1175692875?lang=zh_CN&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</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>$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</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\">\n$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-16 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":559,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184452201,"gmtCreate":1623722637603,"gmtModify":1634029562008,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Go Singapore!","listText":"Go Singapore!","text":"Go Singapore!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/184452201","repostId":"2143473928","repostType":4,"isVote":1,"tweetType":1,"viewCount":710,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834317652,"gmtCreate":1629771797076,"gmtModify":1631891302658,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Go go go! Thanks&nbsp;","listText":"Go go go! Thanks&nbsp;","text":"Go go go! Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/834317652","repostId":"2161777891","repostType":4,"isVote":1,"tweetType":1,"viewCount":737,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139489264,"gmtCreate":1621650029758,"gmtModify":1634187398401,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"High risk with Crypto","listText":"High risk with Crypto","text":"High risk with Crypto","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/139489264","repostId":"1174075999","repostType":4,"isVote":1,"tweetType":1,"viewCount":694,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107768983,"gmtCreate":1620540503042,"gmtModify":1634198136495,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"&nbsp;Like n comment&nbsp;","listText":"&nbsp;Like n comment&nbsp;","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/107768983","repostId":"1106882084","repostType":4,"isVote":1,"tweetType":1,"viewCount":530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349560200,"gmtCreate":1617626259400,"gmtModify":1634297487682,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/349560200","repostId":"2125763974","repostType":4,"isVote":1,"tweetType":1,"viewCount":499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340386218,"gmtCreate":1617339658034,"gmtModify":1634521320022,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575238340277690","authorIdStr":"3575238340277690"},"themes":[],"title":"","htmlText":"Like n comment&nbsp;","listText":"Like n comment&nbsp;","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/340386218","repostId":"1119793308","repostType":4,"isVote":1,"tweetType":1,"viewCount":816,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}