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TopGainerz

TopGainerz

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2021-04-28

Swee

AMD stock rises after earnings show data-center sales more than doubling<blockquote>财报显示数据中心销售额增长一倍多后，AMD股价上涨</blockquote>

2021-06-11

Ok

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2021-07-09

Alright

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2021-06-12

Good

抱歉，原内容已删除

2021-05-11

Ok

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2021-06-20

Good

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2021-06-09

Ok

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2021-11-22

回复 @大小龙:Ok//@大小龙:阅

@贝拉聊财金: 美国上周初请失业救济人数降至26.8万，创疫情以来最低水平。11月费城联储制造业指数创4月以来新高。。。梅西百货，又彪了。。。幸福的股票千篇一律，悲剧的股票各不相同...

2021-05-21

Oj

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2021-05-19

Good

4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</blockquote>

2021-06-11

Ok

抱歉，原内容已删除

2021-06-10

Ok

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2021-03-15

Yes

Why inflation makes holding bonds for the long run riskier than owning stocks<blockquote>为什么通货膨胀使长期持有债券比持有股票风险更大</blockquote>

2021-02-24

Ok

4 reasons Tesla's stock is tumbling<blockquote>特斯拉股价暴跌的4个原因</blockquote>

2021-02-11

Ok

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2021-02-08

Ok

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2021-02-08

Great

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15:26","market":"us","language":"en","title":"4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158638540","media":"Barrons","summary":"The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.The company offers various tools for website creation, including domains, e-comme","content":"<p>The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.</p><p><blockquote>疫情促使许多小企业首次获得在线店面，掀起了一股电子商务浪潮，帮助网站创建平台Squarespace Inc.加速了收入增长。</blockquote></p><p> Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.</p><p><blockquote>现在，Squarespace将测试作为一家上市公司电子商务势头的弹性。其股票定于周三开始在纽约证券交易所直接上市交易，股票代码为SQSP。</blockquote></p><p> The company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.</p><p><blockquote>该公司提供各种网站创建工具，包括域名、电子商务功能和营销能力。Squarespace旨在与网络专业知识有限的小型企业以及需要更大灵活性以根据其需求进行定制的“大品牌”合作。</blockquote></p><p> Squarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in&nbsp;its filing with the Securities and Exchange Commission.</p><p><blockquote>Squarespace认为自己正在顺应许多趋势，包括企业越来越需要与客户保持直接关系，以及越来越重视自己动手的解决方案，这些解决方案“正在迅速取代昂贵的代理机构，并使同等的设计质量脱颖而出”该公司在向美国证券交易委员会提交的文件中表示，“所有人都可以访问且易于使用”。</blockquote></p><p> The company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.</p><p><blockquote>该公司在3月份的一轮融资中筹集了3亿美元，使该公司的企业估值达到100亿美元，并且在上市时没有筹集任何新的资金。以下是您需要了解的关于该公司的其他信息。</blockquote></p><p> <b>Growing Revenue, Shrinking Profits</b></p><p><blockquote><b>收入增长，利润缩水</b></blockquote></p><p> Squarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.</p><p><blockquote>Squarespace 2020年收入为6.21亿美元，高于上年同期的4.85亿美元。最近一财年的收入增长了28%，高于上一季度24%的增长率。</blockquote></p><p> The company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.</p><p><blockquote>该公司将94%的收入归类为基于订阅的收入。Squarespace在2020年增加了约70万个新的独立订阅，该公司透露，超过三分之二的总订阅是年度订阅。</blockquote></p><p> About 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.</p><p><blockquote>Squarespace去年约70%的收入来自美国，其余来自国际。</blockquote></p><p> Squarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.</p><p><blockquote>Squarespace去年实现盈利，净利润约为3060万美元，但利润低于2019年的5820万美元。MKM Partners分析师Rohit Kulkarni写道，该公司的“基本面凸显了盈利能力和大规模增长的罕见结合”。</blockquote></p><p> Despite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.</p><p><blockquote>尽管每年都实现盈利，但Squarespace在2021年第一季度净亏损为1010万美元，而去年同期亏损为110万美元。该公司在2020年最后三个季度均实现盈利。</blockquote></p><p> <b>Competition Aplenty</b></p><p><blockquote><b>竞争激烈</b></blockquote></p><p> The company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like&nbsp;Wix.com&nbsp;(ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse&nbsp;Shopify&nbsp;(ticker: SHOP),&nbsp;which lets businesses set up online shops.</p><p><blockquote>根据其文件，该公司与电子商务行业的各种不同参与者竞争。Squarespace将Wix等网络创建平台视为其竞争对手。com（股票代码：WIX）和Square(SQ)Weebly，以及允许企业建立在线商店的电子商务巨头Shopify（股票代码：SHOP）。</blockquote></p><p> Squarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.</p><p><blockquote>Squarespace还评级了GoDaddy(GDDY)等提供域名工具以及提供电子邮件营销和日程安排功能的竞争对手，同时辩称其自己的“全面、一体化平台、多渠道商务能力”是一项资产。</blockquote></p><p> Jefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.</p><p><blockquote>Jefferies分析师Brent Thill指出，Wix比Squarespace规模更大，去年的收入为9.89亿美元，而Squarespace的收入为6.21亿美元。此外，他写道，Squarespace去年的收入与Wix 2018年的收入相似，但Wix在这一规模上的增长更快，而且没有受益于大流行推动的更广泛的电子商务加速。</blockquote></p><p> <b>On the Menu</b></p><p><blockquote><b>在菜单上</b></blockquote></p><p> SquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.</p><p><blockquote>SquareSpace最近完成了对Tock的4.15亿美元收购，Tock是一家专注于餐饮和酒店行业的公司。Tock的服务允许企业管理预订、外卖、活动票务等。</blockquote></p><p> This part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.</p><p><blockquote>MKM的库尔卡尼表示，这部分业务可能会使SquareSpace与更多科技巨头竞争。</blockquote></p><p> “SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash&nbsp;(DASH) and&nbsp;Grubhub&nbsp;(GRUB),&nbsp;along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.</p><p><blockquote>“SquareSpace提供的Tock产品面临着来自Uber Eats(UBER)、DoorDash(DASH)和Grubhub(GRUB)等配送服务以及TouchBistro和Toast等其他餐厅[客户关系管理]服务的竞争，”他写道。</blockquote></p><p> At the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.</p><p><blockquote>与此同时，此次收购是Squarespace“巧妙地多元化，不仅在线销售实物商品，还增加日历/日程安排功能（餐厅或健身房预订）、内容销售和订阅”的一个例子，他继续说道。</blockquote></p><p> <b>Marketing Bucks</b></p><p><blockquote><b>营销雄鹿</b></blockquote></p><p> Squarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.</p><p><blockquote>Squarespace的营销和销售成本增长速度远远快于其收入增长速度。该公司去年的此类费用为310万美元，高于2019年的170万美元，增长了45%，而同期收入增长了28%。</blockquote></p><p></p><p> The company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”</p><p><blockquote>该公司的播客广告可能为经常听众所熟悉，尽管Squarespace在其招股说明书中指出，它使用“在线关键字搜索、赞助和名人代言、电视、播客、印刷和在线广告、电子邮件和社交媒体营销”广泛宣传其服务。”</blockquote></p><p> Among its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.</p><p><blockquote>在其风险因素中，Squarespace指出，Alphabet（GOOGL）的谷歌可能会改变其算法或提高其搜索引擎营销工具的成本。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</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\">\n4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-19 15:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.</p><p><blockquote>疫情促使许多小企业首次获得在线店面，掀起了一股电子商务浪潮，帮助网站创建平台Squarespace Inc.加速了收入增长。</blockquote></p><p> Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.</p><p><blockquote>现在，Squarespace将测试作为一家上市公司电子商务势头的弹性。其股票定于周三开始在纽约证券交易所直接上市交易，股票代码为SQSP。</blockquote></p><p> The company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.</p><p><blockquote>该公司提供各种网站创建工具，包括域名、电子商务功能和营销能力。Squarespace旨在与网络专业知识有限的小型企业以及需要更大灵活性以根据其需求进行定制的“大品牌”合作。</blockquote></p><p> Squarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in&nbsp;its filing with the Securities and Exchange Commission.</p><p><blockquote>Squarespace认为自己正在顺应许多趋势，包括企业越来越需要与客户保持直接关系，以及越来越重视自己动手的解决方案，这些解决方案“正在迅速取代昂贵的代理机构，并使同等的设计质量脱颖而出”该公司在向美国证券交易委员会提交的文件中表示，“所有人都可以访问且易于使用”。</blockquote></p><p> The company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.</p><p><blockquote>该公司在3月份的一轮融资中筹集了3亿美元，使该公司的企业估值达到100亿美元，并且在上市时没有筹集任何新的资金。以下是您需要了解的关于该公司的其他信息。</blockquote></p><p> <b>Growing Revenue, Shrinking Profits</b></p><p><blockquote><b>收入增长，利润缩水</b></blockquote></p><p> Squarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.</p><p><blockquote>Squarespace 2020年收入为6.21亿美元，高于上年同期的4.85亿美元。最近一财年的收入增长了28%，高于上一季度24%的增长率。</blockquote></p><p> The company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.</p><p><blockquote>该公司将94%的收入归类为基于订阅的收入。Squarespace在2020年增加了约70万个新的独立订阅，该公司透露，超过三分之二的总订阅是年度订阅。</blockquote></p><p> About 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.</p><p><blockquote>Squarespace去年约70%的收入来自美国，其余来自国际。</blockquote></p><p> Squarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.</p><p><blockquote>Squarespace去年实现盈利，净利润约为3060万美元，但利润低于2019年的5820万美元。MKM Partners分析师Rohit Kulkarni写道，该公司的“基本面凸显了盈利能力和大规模增长的罕见结合”。</blockquote></p><p> Despite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.</p><p><blockquote>尽管每年都实现盈利，但Squarespace在2021年第一季度净亏损为1010万美元，而去年同期亏损为110万美元。该公司在2020年最后三个季度均实现盈利。</blockquote></p><p> <b>Competition Aplenty</b></p><p><blockquote><b>竞争激烈</b></blockquote></p><p> The company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like&nbsp;Wix.com&nbsp;(ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse&nbsp;Shopify&nbsp;(ticker: SHOP),&nbsp;which lets businesses set up online shops.</p><p><blockquote>根据其文件，该公司与电子商务行业的各种不同参与者竞争。Squarespace将Wix等网络创建平台视为其竞争对手。com（股票代码：WIX）和Square(SQ)Weebly，以及允许企业建立在线商店的电子商务巨头Shopify（股票代码：SHOP）。</blockquote></p><p> Squarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.</p><p><blockquote>Squarespace还评级了GoDaddy(GDDY)等提供域名工具以及提供电子邮件营销和日程安排功能的竞争对手，同时辩称其自己的“全面、一体化平台、多渠道商务能力”是一项资产。</blockquote></p><p> Jefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.</p><p><blockquote>Jefferies分析师Brent Thill指出，Wix比Squarespace规模更大，去年的收入为9.89亿美元，而Squarespace的收入为6.21亿美元。此外，他写道，Squarespace去年的收入与Wix 2018年的收入相似，但Wix在这一规模上的增长更快，而且没有受益于大流行推动的更广泛的电子商务加速。</blockquote></p><p> <b>On the Menu</b></p><p><blockquote><b>在菜单上</b></blockquote></p><p> SquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.</p><p><blockquote>SquareSpace最近完成了对Tock的4.15亿美元收购，Tock是一家专注于餐饮和酒店行业的公司。Tock的服务允许企业管理预订、外卖、活动票务等。</blockquote></p><p> This part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.</p><p><blockquote>MKM的库尔卡尼表示，这部分业务可能会使SquareSpace与更多科技巨头竞争。</blockquote></p><p> “SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash&nbsp;(DASH) and&nbsp;Grubhub&nbsp;(GRUB),&nbsp;along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.</p><p><blockquote>“SquareSpace提供的Tock产品面临着来自Uber Eats(UBER)、DoorDash(DASH)和Grubhub(GRUB)等配送服务以及TouchBistro和Toast等其他餐厅[客户关系管理]服务的竞争，”他写道。</blockquote></p><p> At the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.</p><p><blockquote>与此同时，此次收购是Squarespace“巧妙地多元化，不仅在线销售实物商品，还增加日历/日程安排功能（餐厅或健身房预订）、内容销售和订阅”的一个例子，他继续说道。</blockquote></p><p> <b>Marketing Bucks</b></p><p><blockquote><b>营销雄鹿</b></blockquote></p><p> Squarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.</p><p><blockquote>Squarespace的营销和销售成本增长速度远远快于其收入增长速度。该公司去年的此类费用为310万美元，高于2019年的170万美元，增长了45%，而同期收入增长了28%。</blockquote></p><p></p><p> The company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”</p><p><blockquote>该公司的播客广告可能为经常听众所熟悉，尽管Squarespace在其招股说明书中指出，它使用“在线关键字搜索、赞助和名人代言、电视、播客、印刷和在线广告、电子邮件和社交媒体营销”广泛宣传其服务。”</blockquote></p><p> Among its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.</p><p><blockquote>在其风险因素中，Squarespace指出，Alphabet（GOOGL）的谷歌可能会改变其算法或提高其搜索引擎营销工具的成本。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/squarespace-direct-listing-51621376597?mod=hp_LEAD_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQSP":"Squarespace Inc."},"source_url":"https://www.barrons.com/articles/squarespace-direct-listing-51621376597?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158638540","content_text":"The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.\nNow Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.\nThe company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.\nSquarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in its filing with the Securities and Exchange Commission.\nThe company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.\nGrowing Revenue, Shrinking Profits\nSquarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.\nThe company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.\nAbout 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.\nSquarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.\nDespite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.\nCompetition Aplenty\nThe company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like Wix.com (ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse Shopify (ticker: SHOP), which lets businesses set up online shops.\nSquarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.\nJefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.\nOn the Menu\nSquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.\nThis part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.\n“SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash (DASH) and Grubhub (GRUB), along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.\nAt the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.\nMarketing Bucks\nSquarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.\nThe company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”\nAmong its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.","news_type":1,"symbols_score_info":{"SQSP":0.9}},"isVote":1,"tweetType":1,"viewCount":1734,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193930810,"gmtCreate":1620743845730,"gmtModify":1631894053302,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575522252515458","idStr":"3575522252515458"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/193930810","repostId":"1123758734","repostType":4,"isVote":1,"tweetType":1,"viewCount":654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100026287,"gmtCreate":1619570304849,"gmtModify":1634211709190,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575522252515458","idStr":"3575522252515458"},"themes":[],"htmlText":"Swee","listText":"Swee","text":"Swee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/100026287","repostId":"1187199105","repostType":4,"repost":{"id":"1187199105","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":1619566832,"share":"https://www.laohu8.com/m/news/1187199105?lang=zh_CN&edition=full","pubTime":"2021-04-28 07:40","market":"us","language":"en","title":"AMD stock rises after earnings show data-center sales more than doubling<blockquote>财报显示数据中心销售额增长一倍多后，AMD股价上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1187199105","media":"Tiger Newspress","summary":"AMD increases full-year revenue guidance after record quarterly sales, stock jumps more than 3% in e","content":"<p>AMD increases full-year revenue guidance after record quarterly sales, stock jumps more than 3% in extended session<img src=\"https://static.tigerbbs.com/174cfb55080b96346856b267d6c023ed\" tg-width=\"706\" tg-height=\"523\" referrerpolicy=\"no-referrer\">Advanced Micro Devices Inc. shares rose in the extended session Tuesday after the chip maker said data-center revenue more than doubled to fuel record quarterly sales, and increased its revenue forecast for the year.</p><p><blockquote>AMD在创纪录的季度销售额后上调全年收入指引，股价在延长交易时段上涨逾3%芯片制造商Advanced Micro Devices Inc.表示，数据中心收入增长了一倍多，推动了创纪录的季度销售额，并上调了今年的收入预期，该公司股价在周二的延长交易中上涨。</blockquote></p><p>“In the first quarter, data-center product revenue more than doubled year-over-year and represented a high teens percentage of our overall revenue,” said AMD&nbsp;Chief Executive Lisa Su on a call with analysts. “We expect data-center product revenue to grow significantly as we go through the year driven by our strong pipeline of new cloud, enterprise and [high-performance computing] wins.”</p><p><blockquote>AMD首席执行官苏姿丰在与分析师的看涨期权中表示：“第一季度，数据中心产品收入同比增长了一倍多，占我们总收入的比例很高。”“我们预计，在我们强大的新云、企业和[高性能计算]胜利渠道的推动下，数据中心产品收入将在今年大幅增长。”</blockquote></p><p>Sales from enterprise embedded and semi-custom chips — the unit that includes data-center and gaming-console revenue — nearly quadrupled to $1.35 billion, compared with $348 million a year ago. Analysts surveyed by FactSet expected $1.3 billion. Su’s comments about data-center revenue were helpful asAMD does not break out data-center sales from gaming sales.</p><p><blockquote>企业嵌入式和半定制芯片（包括数据中心和游戏机收入）的销售额几乎翻了两番，达到13.5亿美元，而一年前为3.48亿美元。FactSet调查的分析师预计为13亿美元。苏关于数据中心收入的评论很有帮助，因为AMD不会将数据中心销售额与游戏销售额分开。</blockquote></p><p>“I think we saw actually strong signals in the first quarter that it would be a strong data-center year for us,” Su told analysts.</p><p><blockquote>“我认为我们在第一季度看到了真正强烈的信号，表明今年对我们来说将是数据中心强劲的一年，”苏告诉分析师。</blockquote></p><p>Last week, Intel Corp&nbsp;said the data-center market was in a“digestion phase,”contributing to a 20% drop in sales for data centers, yetanalysts pointed to increased competition from AMD and ARM Holdings PLC.</p><p><blockquote>上周，英特尔公司表示，数据中心市场正处于“消化阶段”，导致数据中心销售额下降20%，但分析师指出，来自AMD和ARM Holdings PLC的竞争加剧。</blockquote></p><p>AMD reported first-quarter net income of $555 million, or 45 cents a share, compared with $162 million, or 14 cents a share, in the year-ago period. After adjusting for stock-based compensation and other factors, the Santa Clara, Calif.-based company reported earnings of 52 cents a share, compared with 18 cents a share in the year-ago period. Revenue rose to $3.45 billion from $1.79 billion in the year-ago quarter.</p><p><blockquote>AMD公布第一季度净利润为5.55亿美元，即每股45美分，而去年同期为1.62亿美元，即每股14美分。在调整股票薪酬和其他因素后，这家总部位于加利福尼亚州圣克拉拉的公司报告每股收益为52美分，而去年同期为每股18美分。收入从去年同期的17.9亿美元增至34.5亿美元。</blockquote></p><p>Analysts surveyed by FactSet had forecast adjusted earnings of 44 cents a share on revenue of $3.18 billion, and AMD projected between $3.1 billion and $3.3 billion.</p><p><blockquote>FactSet调查的分析师此前预测调整后每股收益为44美分，营收为31.8亿美元，AMD预计在31亿至33亿美元之间。</blockquote></p><p>AMD reported first-quarter sales of $2.1 billion for computing and graphics chips, up 46% from $1.44 billion last year, compared with analyst expectations of $1.89 billion.</p><p><blockquote>AMD公布第一季度计算和图形芯片销售额为21亿美元，较去年的14.4亿美元增长46%，分析师预期为18.9亿美元。</blockquote></p><p>Executives also increased AMD’s guidance for the full year, to a sales increase of about 50% from previous guidance of a roughly 37% increase. AMD reported revenue of $9.67 billion last year, suggesting sales of about $14.65 billion this year; analysts had been forecasting revenue of $13.46 billion, according to FactSet.</p><p><blockquote>高管们还提高了AMD全年销售额指引，从之前指引的约37%增长至约50%。AMD去年营收为96.7亿美元，暗示今年销售额约为146.5亿美元；FactSet的数据显示，分析师此前预测营收为134.6亿美元。</blockquote></p><p>AMD expects second-quarter revenue of $3.5 billion to $3.7 billion, while analysts had been projecting $3.23 billion, according to FactSet.</p><p><blockquote>FactSet的数据显示，AMD预计第二季度营收为35亿至37亿美元，而分析师此前预计为32.3亿美元。</blockquote></p><p>Shares gained more than 3% in after-hours trading, following a 0.2% decline in the regular session to close at $85.21.</p><p><blockquote>该股在常规交易中下跌0.2%，收于85.21美元，在盘后交易中上涨超过3%。</blockquote></p><p>AMD’s strong earnings come amid a continuing shortage of microchips to sate demand from global industries, and the companies that make the silicon wafers that chip designs use, work to clear waiting lists that span several months.</p><p><blockquote>AMD的强劲盈利是在满足全球行业需求的微芯片持续短缺的情况下出现的，而制造芯片设计所用硅片的公司正在努力清理长达数月的等待名单。</blockquote></p><p>More of how the chip sector is dealing with supply shortages will be revealed this week, with Qualcomm Inc.QCOM,-0.68%earnings on Wednesday and KLA Corp.KLAC,-1.58%earnings on Thursday.</p><p><blockquote>芯片行业如何应对供应短缺的更多信息将于本周公布，高通公司(Qualcomm Inc.QCOM)周三盈利-0.68%，KLA Corp.KLAC(KLAC)周四盈利-1.58%。</blockquote></p><p>Over the past 12 months, AMD shares have gained 51%. In comparison, the PHLX Semiconductor IndexSOX,-0.76%has gained 87%, the S&amp;P 500 index&nbsp;has risen 54%, and the tech-heavy Nasdaq Composite Index&nbsp;is up 61%.</p><p><blockquote>过去12个月，AMD股价上涨了51%。相比之下，PHLX半导体指数SOX,-0.76%上涨87%，标普500指数上涨54%，以科技股为主的纳斯达克综合指数上涨61%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMD stock rises after earnings show data-center sales more than doubling<blockquote>财报显示数据中心销售额增长一倍多后，AMD股价上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMD stock rises after earnings show data-center sales more than doubling<blockquote>财报显示数据中心销售额增长一倍多后，AMD股价上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-28 07:40</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMD increases full-year revenue guidance after record quarterly sales, stock jumps more than 3% in extended session<img src=\"https://static.tigerbbs.com/174cfb55080b96346856b267d6c023ed\" tg-width=\"706\" tg-height=\"523\" referrerpolicy=\"no-referrer\">Advanced Micro Devices Inc. shares rose in the extended session Tuesday after the chip maker said data-center revenue more than doubled to fuel record quarterly sales, and increased its revenue forecast for the year.</p><p><blockquote>AMD在创纪录的季度销售额后上调全年收入指引，股价在延长交易时段上涨逾3%芯片制造商Advanced Micro Devices Inc.表示，数据中心收入增长了一倍多，推动了创纪录的季度销售额，并上调了今年的收入预期，该公司股价在周二的延长交易中上涨。</blockquote></p><p>“In the first quarter, data-center product revenue more than doubled year-over-year and represented a high teens percentage of our overall revenue,” said AMD&nbsp;Chief Executive Lisa Su on a call with analysts. “We expect data-center product revenue to grow significantly as we go through the year driven by our strong pipeline of new cloud, enterprise and [high-performance computing] wins.”</p><p><blockquote>AMD首席执行官苏姿丰在与分析师的看涨期权中表示：“第一季度，数据中心产品收入同比增长了一倍多，占我们总收入的比例很高。”“我们预计，在我们强大的新云、企业和[高性能计算]胜利渠道的推动下，数据中心产品收入将在今年大幅增长。”</blockquote></p><p>Sales from enterprise embedded and semi-custom chips — the unit that includes data-center and gaming-console revenue — nearly quadrupled to $1.35 billion, compared with $348 million a year ago. Analysts surveyed by FactSet expected $1.3 billion. Su’s comments about data-center revenue were helpful asAMD does not break out data-center sales from gaming sales.</p><p><blockquote>企业嵌入式和半定制芯片（包括数据中心和游戏机收入）的销售额几乎翻了两番，达到13.5亿美元，而一年前为3.48亿美元。FactSet调查的分析师预计为13亿美元。苏关于数据中心收入的评论很有帮助，因为AMD不会将数据中心销售额与游戏销售额分开。</blockquote></p><p>“I think we saw actually strong signals in the first quarter that it would be a strong data-center year for us,” Su told analysts.</p><p><blockquote>“我认为我们在第一季度看到了真正强烈的信号，表明今年对我们来说将是数据中心强劲的一年，”苏告诉分析师。</blockquote></p><p>Last week, Intel Corp&nbsp;said the data-center market was in a“digestion phase,”contributing to a 20% drop in sales for data centers, yetanalysts pointed to increased competition from AMD and ARM Holdings PLC.</p><p><blockquote>上周，英特尔公司表示，数据中心市场正处于“消化阶段”，导致数据中心销售额下降20%，但分析师指出，来自AMD和ARM Holdings PLC的竞争加剧。</blockquote></p><p>AMD reported first-quarter net income of $555 million, or 45 cents a share, compared with $162 million, or 14 cents a share, in the year-ago period. After adjusting for stock-based compensation and other factors, the Santa Clara, Calif.-based company reported earnings of 52 cents a share, compared with 18 cents a share in the year-ago period. Revenue rose to $3.45 billion from $1.79 billion in the year-ago quarter.</p><p><blockquote>AMD公布第一季度净利润为5.55亿美元，即每股45美分，而去年同期为1.62亿美元，即每股14美分。在调整股票薪酬和其他因素后，这家总部位于加利福尼亚州圣克拉拉的公司报告每股收益为52美分，而去年同期为每股18美分。收入从去年同期的17.9亿美元增至34.5亿美元。</blockquote></p><p>Analysts surveyed by FactSet had forecast adjusted earnings of 44 cents a share on revenue of $3.18 billion, and AMD projected between $3.1 billion and $3.3 billion.</p><p><blockquote>FactSet调查的分析师此前预测调整后每股收益为44美分，营收为31.8亿美元，AMD预计在31亿至33亿美元之间。</blockquote></p><p>AMD reported first-quarter sales of $2.1 billion for computing and graphics chips, up 46% from $1.44 billion last year, compared with analyst expectations of $1.89 billion.</p><p><blockquote>AMD公布第一季度计算和图形芯片销售额为21亿美元，较去年的14.4亿美元增长46%，分析师预期为18.9亿美元。</blockquote></p><p>Executives also increased AMD’s guidance for the full year, to a sales increase of about 50% from previous guidance of a roughly 37% increase. AMD reported revenue of $9.67 billion last year, suggesting sales of about $14.65 billion this year; analysts had been forecasting revenue of $13.46 billion, according to FactSet.</p><p><blockquote>高管们还提高了AMD全年销售额指引，从之前指引的约37%增长至约50%。AMD去年营收为96.7亿美元，暗示今年销售额约为146.5亿美元；FactSet的数据显示，分析师此前预测营收为134.6亿美元。</blockquote></p><p>AMD expects second-quarter revenue of $3.5 billion to $3.7 billion, while analysts had been projecting $3.23 billion, according to FactSet.</p><p><blockquote>FactSet的数据显示，AMD预计第二季度营收为35亿至37亿美元，而分析师此前预计为32.3亿美元。</blockquote></p><p>Shares gained more than 3% in after-hours trading, following a 0.2% decline in the regular session to close at $85.21.</p><p><blockquote>该股在常规交易中下跌0.2%，收于85.21美元，在盘后交易中上涨超过3%。</blockquote></p><p>AMD’s strong earnings come amid a continuing shortage of microchips to sate demand from global industries, and the companies that make the silicon wafers that chip designs use, work to clear waiting lists that span several months.</p><p><blockquote>AMD的强劲盈利是在满足全球行业需求的微芯片持续短缺的情况下出现的，而制造芯片设计所用硅片的公司正在努力清理长达数月的等待名单。</blockquote></p><p>More of how the chip sector is dealing with supply shortages will be revealed this week, with Qualcomm Inc.QCOM,-0.68%earnings on Wednesday and KLA Corp.KLAC,-1.58%earnings on Thursday.</p><p><blockquote>芯片行业如何应对供应短缺的更多信息将于本周公布，高通公司(Qualcomm Inc.QCOM)周三盈利-0.68%，KLA Corp.KLAC(KLAC)周四盈利-1.58%。</blockquote></p><p>Over the past 12 months, AMD shares have gained 51%. In comparison, the PHLX Semiconductor IndexSOX,-0.76%has gained 87%, the S&amp;P 500 index&nbsp;has risen 54%, and the tech-heavy Nasdaq Composite Index&nbsp;is up 61%.</p><p><blockquote>过去12个月，AMD股价上涨了51%。相比之下，PHLX半导体指数SOX,-0.76%上涨87%，标普500指数上涨54%，以科技股为主的纳斯达克综合指数上涨61%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMD":"美国超微公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187199105","content_text":"AMD increases full-year revenue guidance after record quarterly sales, stock jumps more than 3% in extended sessionAdvanced Micro Devices Inc. shares rose in the extended session Tuesday after the chip maker said data-center revenue more than doubled to fuel record quarterly sales, and increased its revenue forecast for the year.“In the first quarter, data-center product revenue more than doubled year-over-year and represented a high teens percentage of our overall revenue,” said AMD Chief Executive Lisa Su on a call with analysts. “We expect data-center product revenue to grow significantly as we go through the year driven by our strong pipeline of new cloud, enterprise and [high-performance computing] wins.”Sales from enterprise embedded and semi-custom chips — the unit that includes data-center and gaming-console revenue — nearly quadrupled to $1.35 billion, compared with $348 million a year ago. Analysts surveyed by FactSet expected $1.3 billion. Su’s comments about data-center revenue were helpful asAMD does not break out data-center sales from gaming sales.“I think we saw actually strong signals in the first quarter that it would be a strong data-center year for us,” Su told analysts.Last week, Intel Corp said the data-center market was in a“digestion phase,”contributing to a 20% drop in sales for data centers, yetanalysts pointed to increased competition from AMD and ARM Holdings PLC.AMD reported first-quarter net income of $555 million, or 45 cents a share, compared with $162 million, or 14 cents a share, in the year-ago period. After adjusting for stock-based compensation and other factors, the Santa Clara, Calif.-based company reported earnings of 52 cents a share, compared with 18 cents a share in the year-ago period. Revenue rose to $3.45 billion from $1.79 billion in the year-ago quarter.Analysts surveyed by FactSet had forecast adjusted earnings of 44 cents a share on revenue of $3.18 billion, and AMD projected between $3.1 billion and $3.3 billion.AMD reported first-quarter sales of $2.1 billion for computing and graphics chips, up 46% from $1.44 billion last year, compared with analyst expectations of $1.89 billion.Executives also increased AMD’s guidance for the full year, to a sales increase of about 50% from previous guidance of a roughly 37% increase. AMD reported revenue of $9.67 billion last year, suggesting sales of about $14.65 billion this year; analysts had been forecasting revenue of $13.46 billion, according to FactSet.AMD expects second-quarter revenue of $3.5 billion to $3.7 billion, while analysts had been projecting $3.23 billion, according to FactSet.Shares gained more than 3% in after-hours trading, following a 0.2% decline in the regular session to close at $85.21.AMD’s strong earnings come amid a continuing shortage of microchips to sate demand from global industries, and the companies that make the silicon wafers that chip designs use, work to clear waiting lists that span several months.More of how the chip sector is dealing with supply shortages will be revealed this week, with Qualcomm Inc.QCOM,-0.68%earnings on Wednesday and KLA Corp.KLAC,-1.58%earnings on Thursday.Over the past 12 months, AMD shares have gained 51%. In comparison, the PHLX Semiconductor IndexSOX,-0.76%has gained 87%, the S&P 500 index has risen 54%, and the tech-heavy Nasdaq Composite Index is up 61%.","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322891708,"gmtCreate":1615791457204,"gmtModify":1703492987725,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575522252515458","idStr":"3575522252515458"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322891708","repostId":"1100888274","repostType":4,"repost":{"id":"1100888274","kind":"news","pubTimestamp":1615786808,"share":"https://www.laohu8.com/m/news/1100888274?lang=zh_CN&edition=full","pubTime":"2021-03-15 13:40","market":"fut","language":"en","title":"Why inflation makes holding bonds for the long run riskier than owning stocks<blockquote>为什么通货膨胀使长期持有债券比持有股票风险更大</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100888274","media":"MarketWatch","summary":"You’d have to hold U.S. Treasury bonds for 57 years to not lose to inflation\nHow long is the long te","content":"<p>You’d have to hold U.S. Treasury bonds for 57 years to not lose to inflation</p><p><blockquote>你必须持有美国国债57年才能不输给通货膨胀</blockquote></p><p> How long is the long term in the bond market? Would you believe 57 years? That’s how long you must be prepared to own U.S. government bonds if you want to be assured of not losing to inflation.</p><p><blockquote>债券市场的长期有多长？你相信57年吗？如果你想确保不输给通货膨胀，你必须准备持有美国政府债券的时间。</blockquote></p><p> This depressing statistic comes from the just-released 2021 edition of Credit Suisse’s&nbsp;Global Investment Returns Yearbook. The authors — Elroy Dimson, a finance professor at Cambridge University, Paul Marsh, a finance professor at the London Business School and Mike Staunton, director of that institution’s London Share Price Database — measured the longest period in U.S. history (since 1900) over which U.S. government bonds produced an inflation-adjusted loss.</p><p><blockquote>这一令人沮丧的统计数据来自刚刚发布的2021年版瑞士信贷全球投资回报年鉴。作者——剑桥大学金融学教授埃尔罗伊·迪姆森(Elroy Dimson)、伦敦商学院金融学教授保罗·马什(Paul Marsh)和该机构伦敦股价数据库主任迈克·斯汤顿(Mike Staunton)——测量了美国历史上（自1900年以来）美国政府债券产生通胀调整后损失的最长时期。</blockquote></p><p> The future might not be like the past, of course. But with current interest rates so low, it seems likely that, in the event the future isn’t like the past, it will be worse for bonds—not better.</p><p><blockquote>当然，未来可能不会像过去那样。但由于目前的利率如此之低，如果未来与过去不同，债券的情况可能会更糟，而不是更好。</blockquote></p><p> The 57-year period in which U.S. government bonds lost ground to inflation began in 1924, when the 10-year Treasury yield stood at 3.93% and inflation over the trailing 12 months was negative 0.58% (according to data provided by Yale University professor Robert Shiller). That meant that there was deflation at the time, not inflation. The real (inflation-adjusted) 10-year yield at the time was therefore 4.51%.</p><p><blockquote>美国政府债券因通胀而失利的57年时期始于1924年，当时10年期国债收益率为3.93%，过去12个月的通胀率为负0.58%（根据耶鲁大学教授罗伯特·席勒提供的数据）。这意味着当时存在通货紧缩，而不是通货膨胀。因此，当时实际（经通胀调整）10年期国债收益率为4.51%。</blockquote></p><p> In contrast, the 10-year yield&nbsp;stood at 1.53% on March 11 and inflation over the trailing 12 months is 1.68%. So the comparable real yield in this case is negative 0.15%. That low rate translates to significant headwinds in the face of bonds purchased today producing a positive real rate of return in coming years.</p><p><blockquote>相比之下，3月11日10年期国债收益率为1.53%，过去12个月的通胀率为1.68%。因此，在这种情况下，可比实际收益率为负0.15%。面对今天购买的债券，这种低利率意味着在未来几年产生正的实际回报率，将面临巨大的阻力。</blockquote></p><p> The Credit Suisse Yearbook forces us to reconsider the standard narrative that stocks are less risky than bonds. Instead of 57 years, the comparable “long term” for U.S. stocks is 16 years. (See chart, below.) That’s the longest period since 1900 in which U.S. equities produced a negative real return. From the point of view of the long-term investor, stocks therefore appear to be far less risky.</p><p><blockquote>《瑞士信贷年鉴》迫使我们重新考虑股票风险低于债券的标准说法。美股可比的“长期”不是57年，而是16年。（见下图。）这是自1900年以来美国股市实际回报率为负的最长时期。因此，从长期投资者的角度来看，股票的风险似乎要小得多。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e3a63641318cf3034c54f3253db53e8d\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> There is one sense in which government bonds are less risky than stocks. Assuming the federal government doesn’t default, then U.S. government bonds are undoubtedly safer than stocks. But, as the Credit Suisse Yearbook’s authors point out, “there is a price to be paid” for that safety. “In terms of inflation-adjusted returns, there is a high chance of disappointment.”</p><p><blockquote>从某种意义上说，政府债券的风险低于股票。假设联邦政府不违约，那么美国国债无疑比股票更安全。但是，正如《瑞士信贷年鉴》的作者指出的那样，这种安全“是要付出代价的”。“就通胀调整后的回报而言，很有可能会令人失望。”</blockquote></p><p> At a minimum, the Yearbook encourages us to focus on risk from many different angles. An asset that appears to be conservative when considering the possibility of default may be quite risky from the perspective of how long it may lag inflation.</p><p><blockquote>至少，《年鉴》鼓励我们从许多不同的角度关注风险。一项在考虑违约可能性时显得保守的资产，从其可能滞后通胀多长时间的角度来看，可能风险相当大。</blockquote></p><p> <b>Expand focus outside of the U.S.</b></p><p><blockquote><b>将关注点扩展到美国以外。</b></blockquote></p><p> When focusing on the U.S. from this perspective of lagging inflation over the long term, it certainly appears as though stocks are less risky than bonds. When we expand our focus to non-U.S. stock markets, this conclusion is premature.</p><p><blockquote>当从长期滞后通胀的角度关注美国时，股票的风险似乎确实低于债券。当我们将关注点扩大到非美股市场时，这个结论还为时过早。</blockquote></p><p> Consider Japan, for example. According to the Credit Suisse Yearbook, the longest stretch of time in which that country’s equities lost ground to inflation is 51 years. That’s the same order of magnitude as for U.S. Treasury bonds.</p><p><blockquote>以日本为例。根据瑞士信贷年鉴，该国股市因通胀而下跌的最长时间是51年。这与美国国债的数量级相同。</blockquote></p><p> This underlines the importance of focusing on as many different markets as possible, over as many years as possible. Most of what is taken to be conventional wisdom in the financial-planning world derives from a database covering just U.S. stocks and bonds back to 1926. Since the U.S. equity and fixed income markets are the world’s largest, focusing on them is “susceptible to success bias,” as the Yearbook’s authors put it.</p><p><blockquote>这强调了在尽可能多的时间内关注尽可能多的不同市场的重要性。财务规划界的大部分传统智慧都来自一个仅涵盖1926年以来美国股票和债券的数据库。正如年鉴作者所说，由于美国股票和固定收益市场是世界上最大的，关注它们“容易受到成功偏见的影响”。</blockquote></p><p> Unless we are willing to bet that the U.S. markets over the next century will outperform the rest of the world by as much as they have since the 1920s, we should be basing our forecasts on the performance of global markets for as many years for which data are available.</p><p><blockquote>除非我们愿意打赌美国市场在下个世纪的表现将像自20世纪20年代以来一样优于世界其他地区，否则我们的预测应该基于全球市场多年来的表现。有数据可用。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why inflation makes holding bonds for the long run riskier than owning stocks<blockquote>为什么通货膨胀使长期持有债券比持有股票风险更大</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy inflation makes holding bonds for the long run riskier than owning stocks<blockquote>为什么通货膨胀使长期持有债券比持有股票风险更大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-15 13:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>You’d have to hold U.S. Treasury bonds for 57 years to not lose to inflation</p><p><blockquote>你必须持有美国国债57年才能不输给通货膨胀</blockquote></p><p> How long is the long term in the bond market? Would you believe 57 years? That’s how long you must be prepared to own U.S. government bonds if you want to be assured of not losing to inflation.</p><p><blockquote>债券市场的长期有多长？你相信57年吗？如果你想确保不输给通货膨胀，你必须准备持有美国政府债券的时间。</blockquote></p><p> This depressing statistic comes from the just-released 2021 edition of Credit Suisse’s&nbsp;Global Investment Returns Yearbook. The authors — Elroy Dimson, a finance professor at Cambridge University, Paul Marsh, a finance professor at the London Business School and Mike Staunton, director of that institution’s London Share Price Database — measured the longest period in U.S. history (since 1900) over which U.S. government bonds produced an inflation-adjusted loss.</p><p><blockquote>这一令人沮丧的统计数据来自刚刚发布的2021年版瑞士信贷全球投资回报年鉴。作者——剑桥大学金融学教授埃尔罗伊·迪姆森(Elroy Dimson)、伦敦商学院金融学教授保罗·马什(Paul Marsh)和该机构伦敦股价数据库主任迈克·斯汤顿(Mike Staunton)——测量了美国历史上（自1900年以来）美国政府债券产生通胀调整后损失的最长时期。</blockquote></p><p> The future might not be like the past, of course. But with current interest rates so low, it seems likely that, in the event the future isn’t like the past, it will be worse for bonds—not better.</p><p><blockquote>当然，未来可能不会像过去那样。但由于目前的利率如此之低，如果未来与过去不同，债券的情况可能会更糟，而不是更好。</blockquote></p><p> The 57-year period in which U.S. government bonds lost ground to inflation began in 1924, when the 10-year Treasury yield stood at 3.93% and inflation over the trailing 12 months was negative 0.58% (according to data provided by Yale University professor Robert Shiller). That meant that there was deflation at the time, not inflation. The real (inflation-adjusted) 10-year yield at the time was therefore 4.51%.</p><p><blockquote>美国政府债券因通胀而失利的57年时期始于1924年，当时10年期国债收益率为3.93%，过去12个月的通胀率为负0.58%（根据耶鲁大学教授罗伯特·席勒提供的数据）。这意味着当时存在通货紧缩，而不是通货膨胀。因此，当时实际（经通胀调整）10年期国债收益率为4.51%。</blockquote></p><p> In contrast, the 10-year yield&nbsp;stood at 1.53% on March 11 and inflation over the trailing 12 months is 1.68%. So the comparable real yield in this case is negative 0.15%. That low rate translates to significant headwinds in the face of bonds purchased today producing a positive real rate of return in coming years.</p><p><blockquote>相比之下，3月11日10年期国债收益率为1.53%，过去12个月的通胀率为1.68%。因此，在这种情况下，可比实际收益率为负0.15%。面对今天购买的债券，这种低利率意味着在未来几年产生正的实际回报率，将面临巨大的阻力。</blockquote></p><p> The Credit Suisse Yearbook forces us to reconsider the standard narrative that stocks are less risky than bonds. Instead of 57 years, the comparable “long term” for U.S. stocks is 16 years. (See chart, below.) That’s the longest period since 1900 in which U.S. equities produced a negative real return. From the point of view of the long-term investor, stocks therefore appear to be far less risky.</p><p><blockquote>《瑞士信贷年鉴》迫使我们重新考虑股票风险低于债券的标准说法。美股可比的“长期”不是57年，而是16年。（见下图。）这是自1900年以来美国股市实际回报率为负的最长时期。因此，从长期投资者的角度来看，股票的风险似乎要小得多。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e3a63641318cf3034c54f3253db53e8d\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> There is one sense in which government bonds are less risky than stocks. Assuming the federal government doesn’t default, then U.S. government bonds are undoubtedly safer than stocks. But, as the Credit Suisse Yearbook’s authors point out, “there is a price to be paid” for that safety. “In terms of inflation-adjusted returns, there is a high chance of disappointment.”</p><p><blockquote>从某种意义上说，政府债券的风险低于股票。假设联邦政府不违约，那么美国国债无疑比股票更安全。但是，正如《瑞士信贷年鉴》的作者指出的那样，这种安全“是要付出代价的”。“就通胀调整后的回报而言，很有可能会令人失望。”</blockquote></p><p> At a minimum, the Yearbook encourages us to focus on risk from many different angles. An asset that appears to be conservative when considering the possibility of default may be quite risky from the perspective of how long it may lag inflation.</p><p><blockquote>至少，《年鉴》鼓励我们从许多不同的角度关注风险。一项在考虑违约可能性时显得保守的资产，从其可能滞后通胀多长时间的角度来看，可能风险相当大。</blockquote></p><p> <b>Expand focus outside of the U.S.</b></p><p><blockquote><b>将关注点扩展到美国以外。</b></blockquote></p><p> When focusing on the U.S. from this perspective of lagging inflation over the long term, it certainly appears as though stocks are less risky than bonds. When we expand our focus to non-U.S. stock markets, this conclusion is premature.</p><p><blockquote>当从长期滞后通胀的角度关注美国时，股票的风险似乎确实低于债券。当我们将关注点扩大到非美股市场时，这个结论还为时过早。</blockquote></p><p> Consider Japan, for example. According to the Credit Suisse Yearbook, the longest stretch of time in which that country’s equities lost ground to inflation is 51 years. That’s the same order of magnitude as for U.S. Treasury bonds.</p><p><blockquote>以日本为例。根据瑞士信贷年鉴，该国股市因通胀而下跌的最长时间是51年。这与美国国债的数量级相同。</blockquote></p><p> This underlines the importance of focusing on as many different markets as possible, over as many years as possible. Most of what is taken to be conventional wisdom in the financial-planning world derives from a database covering just U.S. stocks and bonds back to 1926. Since the U.S. equity and fixed income markets are the world’s largest, focusing on them is “susceptible to success bias,” as the Yearbook’s authors put it.</p><p><blockquote>这强调了在尽可能多的时间内关注尽可能多的不同市场的重要性。财务规划界的大部分传统智慧都来自一个仅涵盖1926年以来美国股票和债券的数据库。正如年鉴作者所说，由于美国股票和固定收益市场是世界上最大的，关注它们“容易受到成功偏见的影响”。</blockquote></p><p> Unless we are willing to bet that the U.S. markets over the next century will outperform the rest of the world by as much as they have since the 1920s, we should be basing our forecasts on the performance of global markets for as many years for which data are available.</p><p><blockquote>除非我们愿意打赌美国市场在下个世纪的表现将像自20世纪20年代以来一样优于世界其他地区，否则我们的预测应该基于全球市场多年来的表现。有数据可用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/why-inflation-makes-holding-bonds-for-the-long-run-riskier-than-owning-stocks-11615586194?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/why-inflation-makes-holding-bonds-for-the-long-run-riskier-than-owning-stocks-11615586194?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1100888274","content_text":"You’d have to hold U.S. Treasury bonds for 57 years to not lose to inflation\nHow long is the long term in the bond market? Would you believe 57 years? That’s how long you must be prepared to own U.S. government bonds if you want to be assured of not losing to inflation.\nThis depressing statistic comes from the just-released 2021 edition of Credit Suisse’s Global Investment Returns Yearbook. The authors — Elroy Dimson, a finance professor at Cambridge University, Paul Marsh, a finance professor at the London Business School and Mike Staunton, director of that institution’s London Share Price Database — measured the longest period in U.S. history (since 1900) over which U.S. government bonds produced an inflation-adjusted loss.\nThe future might not be like the past, of course. But with current interest rates so low, it seems likely that, in the event the future isn’t like the past, it will be worse for bonds—not better.\nThe 57-year period in which U.S. government bonds lost ground to inflation began in 1924, when the 10-year Treasury yield stood at 3.93% and inflation over the trailing 12 months was negative 0.58% (according to data provided by Yale University professor Robert Shiller). That meant that there was deflation at the time, not inflation. The real (inflation-adjusted) 10-year yield at the time was therefore 4.51%.\nIn contrast, the 10-year yield stood at 1.53% on March 11 and inflation over the trailing 12 months is 1.68%. So the comparable real yield in this case is negative 0.15%. That low rate translates to significant headwinds in the face of bonds purchased today producing a positive real rate of return in coming years.\nThe Credit Suisse Yearbook forces us to reconsider the standard narrative that stocks are less risky than bonds. Instead of 57 years, the comparable “long term” for U.S. stocks is 16 years. (See chart, below.) That’s the longest period since 1900 in which U.S. equities produced a negative real return. From the point of view of the long-term investor, stocks therefore appear to be far less risky.\n\nThere is one sense in which government bonds are less risky than stocks. Assuming the federal government doesn’t default, then U.S. government bonds are undoubtedly safer than stocks. But, as the Credit Suisse Yearbook’s authors point out, “there is a price to be paid” for that safety. “In terms of inflation-adjusted returns, there is a high chance of disappointment.”\nAt a minimum, the Yearbook encourages us to focus on risk from many different angles. An asset that appears to be conservative when considering the possibility of default may be quite risky from the perspective of how long it may lag inflation.\nExpand focus outside of the U.S.\nWhen focusing on the U.S. from this perspective of lagging inflation over the long term, it certainly appears as though stocks are less risky than bonds. When we expand our focus to non-U.S. stock markets, this conclusion is premature.\nConsider Japan, for example. According to the Credit Suisse Yearbook, the longest stretch of time in which that country’s equities lost ground to inflation is 51 years. That’s the same order of magnitude as for U.S. Treasury bonds.\nThis underlines the importance of focusing on as many different markets as possible, over as many years as possible. Most of what is taken to be conventional wisdom in the financial-planning world derives from a database covering just U.S. stocks and bonds back to 1926. Since the U.S. equity and fixed income markets are the world’s largest, focusing on them is “susceptible to success bias,” as the Yearbook’s authors put it.\nUnless we are willing to bet that the U.S. markets over the next century will outperform the rest of the world by as much as they have since the 1920s, we should be basing our forecasts on the performance of global markets for as many years for which data are available.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"ZNmain":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363407928,"gmtCreate":1614160860364,"gmtModify":1634550942964,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575522252515458","idStr":"3575522252515458"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363407928","repostId":"1106446066","repostType":4,"repost":{"id":"1106446066","kind":"news","pubTimestamp":1614133758,"share":"https://www.laohu8.com/m/news/1106446066?lang=zh_CN&edition=full","pubTime":"2021-02-24 10:29","market":"us","language":"en","title":"4 reasons Tesla's stock is tumbling<blockquote>特斯拉股价暴跌的4个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106446066","media":"CNN Business","summary":"New York (CNN Business) - Tesla, the hottest stock in the market for more than a year, has sunk into","content":"<p><b>New York (CNN Business)&nbsp;-&nbsp;</b>Tesla, the&nbsp;hottest stock&nbsp;in the market for more than a year, has sunk into bear market territory.</p><p><blockquote><b>纽约（CNN商业）——</b>特斯拉，一年多来市场上最热门的股票，已经陷入熊市领域。</blockquote></p><p> Shares of&nbsp;Tesla&nbsp;fell 6% Tuesday after closing down 8.5% Monday, wiping out its gains for the year. The stock closed at a record just above $883 on January 26 and has tumbled since. It fell low as $619 Tuesday, the first time Tesla shares have fallen below $700 since December 31.</p><p><blockquote>特斯拉股价继周一收盘下跌8.5%后，周二下跌6%，抹去了今年的涨幅。该股1月26日收于略高于883美元的创纪录水平，此后一直在暴跌。周二跌至619美元，这是特斯拉股价自12月31日以来首次跌破700美元。</blockquote></p><p> The steep decline has taken Tesla shares below their level when the company&nbsp;entered the S&amp;P 500&nbsp;on December 21. It also knocked CEO Elon Musk into the No. 2 position in the&nbsp;richest person on the planet&nbsp;list, behind&nbsp;Amazon&nbsp;founder Jeff Bezos. The two have been&nbsp;swapping positions&nbsp;repeatedly this year.</p><p><blockquote>大幅下跌已使特斯拉股价跌破该公司12月21日进入标普500时的水平。它还将亚马逊首席执行官Elon Musk挤进了全球富豪榜的第二位，仅次于亚马逊创始人杰夫·贝索斯。两人今年多次互换位置。</blockquote></p><p> Tesla's stock is selling off for several reasons:</p><p><blockquote>特斯拉的股票遭到抛售有几个原因：</blockquote></p><p> <b>Bitcoin</b></p><p><blockquote><b>比特币</b></blockquote></p><p> Tesla announced earlier this month that it had&nbsp;invested $1.5 billion in bitcoin. That helped feed the&nbsp;recent rally in bitcoin&nbsp;and by some estimates earned Tesla a quick $1 billion profit — more than it has ever made from selling cars in a single year.</p><p><blockquote>特斯拉本月早些时候宣布，已向比特币投资15亿美元。这帮助推动了比特币最近的反弹，据一些人估计，特斯拉很快就获得了10亿美元的利润——比它一年销售汽车的利润还要多。</blockquote></p><p> But on Saturday, in response to a critic of Tesla's bitcoin investment, Musk&nbsp;tweeted&nbsp;that the prices of both bitcoin and another cryptocurrency called Ether \"do seem high.\" That&nbsp;helped to send the price&nbsp;of&nbsp;bitcoin&nbsp;down 9.3% in trading Monday, which may have helped to drag down Tesla shares.</p><p><blockquote>但周六，在回应特斯拉比特币投资的批评者时，马斯克在推特上表示，比特币和另一种名为以太币的加密货币的价格“确实看起来很高”。这导致比特币股价在周一交易中下跌9.3%，这可能拖累了特斯拉股价。</blockquote></p><p> \"Bitcoin is the smart move at the right time for Tesla in our opinion, but on the downside its playing with firecrackers and risks and volatility are added to the Tesla story,\" said Daniel Ives, tech analyst for Wedbush Securities, who remains bullish on Tesla shares.</p><p><blockquote>Wedbush Securities科技分析师Daniel Ives表示：“我们认为，比特币对特斯拉来说是在正确的时间采取的明智之举，但不利的一面是，它玩弄鞭炮，风险和波动性增加了特斯拉的故事。”看好特斯拉股票。</blockquote></p><p> <b>Model Y pricing</b></p><p><blockquote><b>Model Y定价</b></blockquote></p><p> Last Thursday, Tesla cut the price of the cheapest version of its Model Y and its best-selling Model 3 cars by $2,000 each. That brought the price for the \"standard range\" Model Y, one that can travel 244 miles on a charge, to $38,490 -- and the standard range Model 3 to $34,590.</p><p><blockquote>上周四，特斯拉将其最便宜版本的Model Y和最畅销的Model 3汽车的价格各下调了2,000美元。这使得“标准续航里程”Model Y（一次充电可行驶244英里）的价格达到38,490美元，标准续航里程Model 3的价格达到34,590美元。</blockquote></p><p> But over the weekend, the cheapest \"standard range\" version of the Model Y disappeared from Tesla's sales site, leaving only the more expensive long-range and performance versions of the SUV. Tesla did not explain its decision.</p><p><blockquote>但在周末，最便宜的“标准续航”版本的Model Y从特斯拉的销售网站上消失了，只剩下更昂贵的长续航和高性能版本的SUV。特斯拉没有解释其决定。</blockquote></p><p> \"We see the plausible reasons as either: the mix was skewed too much to the cheaper variant, and thus it was going to kill their margins, or more likely there just wasn't much demand for the lower variant,\" said Gordon Johnson of GLJ Research, one of the more bearish critics on Tesla shares. He said the recent price cuts and other price cuts show that Tesla vehicles do not have the demand that its fans claim.</p><p><blockquote>Gordon Johnson表示：“我们认为可能的原因要么是：产品组合过于偏向较便宜的型号，因此会扼杀他们的利润率，要么更有可能的是，对较低型号的需求并不大。”GLJ Research是对特斯拉股票较为悲观的批评者之一。他表示，最近的降价和其他降价表明，特斯拉汽车并没有其粉丝所宣称的需求。</blockquote></p><p> \"Tesla can't keep its current factories running at capacity without ... price cuts,\" said Johnson in note on Monday.</p><p><blockquote>Johnson周一在一份报告中表示：“如果不降价，特斯拉就无法让现有工厂保持满负荷运转。”</blockquote></p><p> <b>Increased competition</b></p><p><blockquote><b>竞争加剧</b></blockquote></p><p> Established automakers have recently set ambitious targets for their own EV sales.</p><p><blockquote>老牌汽车制造商最近为自己的电动汽车销售设定了雄心勃勃的目标。</blockquote></p><p> General Motors&nbsp;rolled out an SUV version of its&nbsp;Chevrolet Bolt&nbsp;a week ago, priced well below the Model Y, and announced it intends to sell only&nbsp;emissions-free cars&nbsp;after 2035.Ford&nbsp;set an even more&nbsp;ambitious EV target for its European sales, saying all of the car models it sells there will be EVs by 2030.</p><p><blockquote>通用汽车一周前推出了雪佛兰Bolt的SUV版本，价格远低于Model Y，并宣布打算在2035年之后只销售零排放汽车。福特为其欧洲销售设定了更加雄心勃勃的电动汽车目标，称到2030年，其在欧洲销售的所有车型都将是电动汽车。</blockquote></p><p> Apple&nbsp;is also considering partnering with an automaker toget into the car business, according to several news reports.</p><p><blockquote>据多家新闻报道，苹果还在考虑与一家汽车制造商合作进入汽车业务。</blockquote></p><p> Those efforts are making some Tesla investors nervous, said Ives, although he believes there will be enough of a shift to EVs for multiple winners among global automakers.</p><p><blockquote>Ives表示，这些努力让一些特斯拉投资者感到紧张，尽管他相信全球汽车制造商中的多个赢家将足以转向电动汽车。</blockquote></p><p> <b>Investors got ahead of themselves</b></p><p><blockquote><b>投资者超前了</b></blockquote></p><p> Tesla shares peaked one day before a disappointing earnings report on January 27 that fell&nbsp;short of forecasts from Wall Street analysts.</p><p><blockquote>特斯拉股价在1月27日令人失望的财报未达华尔街分析师预期的前一天见顶。</blockquote></p><p> The earnings showed that the money Tesla made from the&nbsp;sale of regulatory credits&nbsp;to other automakers outpaced its overall net income. Critics, like Johnson, said it's proof Tesla isn't able to make money building and selling cars (although by some other profit measures Tesla is profitable).</p><p><blockquote>财报显示，特斯拉向其他汽车制造商出售监管信贷所赚的钱超过了其整体净利润。像Johnson这样的批评者说，这证明特斯拉无法通过制造和销售汽车赚钱（尽管从其他一些利润指标来看，特斯拉是盈利的）。</blockquote></p><p> During the earnings conference call on January 27, Musk also spoke about a shortage of batteries needed to power electric vehicles. He said that even with Tesla's own in-house supply of batteries and its planned expansion of battery production, the company is scrambling to find the batteries it wants to build more vehicles.</p><p><blockquote>在1月27日的财报电话会议上，马斯克还谈到了电动汽车所需电池的短缺问题。他表示，即使特斯拉自己内部供应电池，并计划扩大电池生产，该公司仍在争先恐后地寻找制造更多车辆所需的电池。</blockquote></p><p> \"The fundamental limit on electric vehicles right now, in general, is total availability of [battery] cells,\" he said. For example, Musk said Tesla would have already started producing a semi-tractor if it had the batteries available to do so.</p><p><blockquote>“总的来说，目前电动汽车的基本限制是[电池]的总可用性，”他说。例如，马斯克表示，如果特斯拉有足够的电池，它早就开始生产半挂车了。</blockquote></p><p> <b>Shares are still way up</b></p><p><blockquote><b>股价仍在上涨</b></blockquote></p><p> Tesla shares rose a market-leading 743% in 2020, as investors embraced the idea that the future of the auto industry would be electric. Tesla remains by far the most valuable automaker in the world, with a market value well above that of the eight largest automakers combined.</p><p><blockquote>由于投资者接受了汽车行业的未来将是电动的这一观点，特斯拉股价在2020年上涨了743%，领跑市场。特斯拉仍然是迄今为止世界上最有价值的汽车制造商，其市值远高于八大汽车制造商的总和。</blockquote></p><p></p><p> Even with the recent decline. Tesla shares are up about 1,300% since October 2019, when it reported a third-quarter&nbsp;profit that surprised investors, sending shares on a tear.</p><p><blockquote>即使最近有所下降。自2019年10月以来，特斯拉股价已上涨约1,300%，当时该公司公布的第三季度利润令投资者感到意外，导致股价大幅上涨。</blockquote></p><p> Some investors believe Tesla's stock flew too high. Yet many analysts believe Tesla will bounce back. Ives has a 12-month target price of $950.</p><p><blockquote>一些投资者认为特斯拉的股价飞得太高了。然而，许多分析师认为特斯拉将会反弹。Ives的12个月目标价为950美元。</blockquote></p><p> Even so, he has a warning: \"It's 'buckle up the seat belt time' again for Tesla's stock with more volatility on the horizon,\" Ives said.</p><p><blockquote>即便如此，他也有一个警告：“特斯拉的股票又到了‘系好安全带的时候了’，因为即将出现更多波动，”Ives说。</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>4 reasons Tesla's stock is tumbling<blockquote>特斯拉股价暴跌的4个原因</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\">\n4 reasons Tesla's stock is tumbling<blockquote>特斯拉股价暴跌的4个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-02-24 10:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)&nbsp;-&nbsp;</b>Tesla, the&nbsp;hottest stock&nbsp;in the market for more than a year, has sunk into bear market territory.</p><p><blockquote><b>纽约（CNN商业）——</b>特斯拉，一年多来市场上最热门的股票，已经陷入熊市领域。</blockquote></p><p> Shares of&nbsp;Tesla&nbsp;fell 6% Tuesday after closing down 8.5% Monday, wiping out its gains for the year. The stock closed at a record just above $883 on January 26 and has tumbled since. It fell low as $619 Tuesday, the first time Tesla shares have fallen below $700 since December 31.</p><p><blockquote>特斯拉股价继周一收盘下跌8.5%后，周二下跌6%，抹去了今年的涨幅。该股1月26日收于略高于883美元的创纪录水平，此后一直在暴跌。周二跌至619美元，这是特斯拉股价自12月31日以来首次跌破700美元。</blockquote></p><p> The steep decline has taken Tesla shares below their level when the company&nbsp;entered the S&amp;P 500&nbsp;on December 21. It also knocked CEO Elon Musk into the No. 2 position in the&nbsp;richest person on the planet&nbsp;list, behind&nbsp;Amazon&nbsp;founder Jeff Bezos. The two have been&nbsp;swapping positions&nbsp;repeatedly this year.</p><p><blockquote>大幅下跌已使特斯拉股价跌破该公司12月21日进入标普500时的水平。它还将亚马逊首席执行官Elon Musk挤进了全球富豪榜的第二位，仅次于亚马逊创始人杰夫·贝索斯。两人今年多次互换位置。</blockquote></p><p> Tesla's stock is selling off for several reasons:</p><p><blockquote>特斯拉的股票遭到抛售有几个原因：</blockquote></p><p> <b>Bitcoin</b></p><p><blockquote><b>比特币</b></blockquote></p><p> Tesla announced earlier this month that it had&nbsp;invested $1.5 billion in bitcoin. That helped feed the&nbsp;recent rally in bitcoin&nbsp;and by some estimates earned Tesla a quick $1 billion profit — more than it has ever made from selling cars in a single year.</p><p><blockquote>特斯拉本月早些时候宣布，已向比特币投资15亿美元。这帮助推动了比特币最近的反弹，据一些人估计，特斯拉很快就获得了10亿美元的利润——比它一年销售汽车的利润还要多。</blockquote></p><p> But on Saturday, in response to a critic of Tesla's bitcoin investment, Musk&nbsp;tweeted&nbsp;that the prices of both bitcoin and another cryptocurrency called Ether \"do seem high.\" That&nbsp;helped to send the price&nbsp;of&nbsp;bitcoin&nbsp;down 9.3% in trading Monday, which may have helped to drag down Tesla shares.</p><p><blockquote>但周六，在回应特斯拉比特币投资的批评者时，马斯克在推特上表示，比特币和另一种名为以太币的加密货币的价格“确实看起来很高”。这导致比特币股价在周一交易中下跌9.3%，这可能拖累了特斯拉股价。</blockquote></p><p> \"Bitcoin is the smart move at the right time for Tesla in our opinion, but on the downside its playing with firecrackers and risks and volatility are added to the Tesla story,\" said Daniel Ives, tech analyst for Wedbush Securities, who remains bullish on Tesla shares.</p><p><blockquote>Wedbush Securities科技分析师Daniel Ives表示：“我们认为，比特币对特斯拉来说是在正确的时间采取的明智之举，但不利的一面是，它玩弄鞭炮，风险和波动性增加了特斯拉的故事。”看好特斯拉股票。</blockquote></p><p> <b>Model Y pricing</b></p><p><blockquote><b>Model Y定价</b></blockquote></p><p> Last Thursday, Tesla cut the price of the cheapest version of its Model Y and its best-selling Model 3 cars by $2,000 each. That brought the price for the \"standard range\" Model Y, one that can travel 244 miles on a charge, to $38,490 -- and the standard range Model 3 to $34,590.</p><p><blockquote>上周四，特斯拉将其最便宜版本的Model Y和最畅销的Model 3汽车的价格各下调了2,000美元。这使得“标准续航里程”Model Y（一次充电可行驶244英里）的价格达到38,490美元，标准续航里程Model 3的价格达到34,590美元。</blockquote></p><p> But over the weekend, the cheapest \"standard range\" version of the Model Y disappeared from Tesla's sales site, leaving only the more expensive long-range and performance versions of the SUV. Tesla did not explain its decision.</p><p><blockquote>但在周末，最便宜的“标准续航”版本的Model Y从特斯拉的销售网站上消失了，只剩下更昂贵的长续航和高性能版本的SUV。特斯拉没有解释其决定。</blockquote></p><p> \"We see the plausible reasons as either: the mix was skewed too much to the cheaper variant, and thus it was going to kill their margins, or more likely there just wasn't much demand for the lower variant,\" said Gordon Johnson of GLJ Research, one of the more bearish critics on Tesla shares. He said the recent price cuts and other price cuts show that Tesla vehicles do not have the demand that its fans claim.</p><p><blockquote>Gordon Johnson表示：“我们认为可能的原因要么是：产品组合过于偏向较便宜的型号，因此会扼杀他们的利润率，要么更有可能的是，对较低型号的需求并不大。”GLJ Research是对特斯拉股票较为悲观的批评者之一。他表示，最近的降价和其他降价表明，特斯拉汽车并没有其粉丝所宣称的需求。</blockquote></p><p> \"Tesla can't keep its current factories running at capacity without ... price cuts,\" said Johnson in note on Monday.</p><p><blockquote>Johnson周一在一份报告中表示：“如果不降价，特斯拉就无法让现有工厂保持满负荷运转。”</blockquote></p><p> <b>Increased competition</b></p><p><blockquote><b>竞争加剧</b></blockquote></p><p> Established automakers have recently set ambitious targets for their own EV sales.</p><p><blockquote>老牌汽车制造商最近为自己的电动汽车销售设定了雄心勃勃的目标。</blockquote></p><p> General Motors&nbsp;rolled out an SUV version of its&nbsp;Chevrolet Bolt&nbsp;a week ago, priced well below the Model Y, and announced it intends to sell only&nbsp;emissions-free cars&nbsp;after 2035.Ford&nbsp;set an even more&nbsp;ambitious EV target for its European sales, saying all of the car models it sells there will be EVs by 2030.</p><p><blockquote>通用汽车一周前推出了雪佛兰Bolt的SUV版本，价格远低于Model Y，并宣布打算在2035年之后只销售零排放汽车。福特为其欧洲销售设定了更加雄心勃勃的电动汽车目标，称到2030年，其在欧洲销售的所有车型都将是电动汽车。</blockquote></p><p> Apple&nbsp;is also considering partnering with an automaker toget into the car business, according to several news reports.</p><p><blockquote>据多家新闻报道，苹果还在考虑与一家汽车制造商合作进入汽车业务。</blockquote></p><p> Those efforts are making some Tesla investors nervous, said Ives, although he believes there will be enough of a shift to EVs for multiple winners among global automakers.</p><p><blockquote>Ives表示，这些努力让一些特斯拉投资者感到紧张，尽管他相信全球汽车制造商中的多个赢家将足以转向电动汽车。</blockquote></p><p> <b>Investors got ahead of themselves</b></p><p><blockquote><b>投资者超前了</b></blockquote></p><p> Tesla shares peaked one day before a disappointing earnings report on January 27 that fell&nbsp;short of forecasts from Wall Street analysts.</p><p><blockquote>特斯拉股价在1月27日令人失望的财报未达华尔街分析师预期的前一天见顶。</blockquote></p><p> The earnings showed that the money Tesla made from the&nbsp;sale of regulatory credits&nbsp;to other automakers outpaced its overall net income. Critics, like Johnson, said it's proof Tesla isn't able to make money building and selling cars (although by some other profit measures Tesla is profitable).</p><p><blockquote>财报显示，特斯拉向其他汽车制造商出售监管信贷所赚的钱超过了其整体净利润。像Johnson这样的批评者说，这证明特斯拉无法通过制造和销售汽车赚钱（尽管从其他一些利润指标来看，特斯拉是盈利的）。</blockquote></p><p> During the earnings conference call on January 27, Musk also spoke about a shortage of batteries needed to power electric vehicles. He said that even with Tesla's own in-house supply of batteries and its planned expansion of battery production, the company is scrambling to find the batteries it wants to build more vehicles.</p><p><blockquote>在1月27日的财报电话会议上，马斯克还谈到了电动汽车所需电池的短缺问题。他表示，即使特斯拉自己内部供应电池，并计划扩大电池生产，该公司仍在争先恐后地寻找制造更多车辆所需的电池。</blockquote></p><p> \"The fundamental limit on electric vehicles right now, in general, is total availability of [battery] cells,\" he said. For example, Musk said Tesla would have already started producing a semi-tractor if it had the batteries available to do so.</p><p><blockquote>“总的来说，目前电动汽车的基本限制是[电池]的总可用性，”他说。例如，马斯克表示，如果特斯拉有足够的电池，它早就开始生产半挂车了。</blockquote></p><p> <b>Shares are still way up</b></p><p><blockquote><b>股价仍在上涨</b></blockquote></p><p> Tesla shares rose a market-leading 743% in 2020, as investors embraced the idea that the future of the auto industry would be electric. Tesla remains by far the most valuable automaker in the world, with a market value well above that of the eight largest automakers combined.</p><p><blockquote>由于投资者接受了汽车行业的未来将是电动的这一观点，特斯拉股价在2020年上涨了743%，领跑市场。特斯拉仍然是迄今为止世界上最有价值的汽车制造商，其市值远高于八大汽车制造商的总和。</blockquote></p><p></p><p> Even with the recent decline. Tesla shares are up about 1,300% since October 2019, when it reported a third-quarter&nbsp;profit that surprised investors, sending shares on a tear.</p><p><blockquote>即使最近有所下降。自2019年10月以来，特斯拉股价已上涨约1,300%，当时该公司公布的第三季度利润令投资者感到意外，导致股价大幅上涨。</blockquote></p><p> Some investors believe Tesla's stock flew too high. Yet many analysts believe Tesla will bounce back. Ives has a 12-month target price of $950.</p><p><blockquote>一些投资者认为特斯拉的股价飞得太高了。然而，许多分析师认为特斯拉将会反弹。Ives的12个月目标价为950美元。</blockquote></p><p> Even so, he has a warning: \"It's 'buckle up the seat belt time' again for Tesla's stock with more volatility on the horizon,\" Ives said.</p><p><blockquote>即便如此，他也有一个警告：“特斯拉的股票又到了‘系好安全带的时候了’，因为即将出现更多波动，”Ives说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/02/23/investing/tesla-shares-bear-market/index.html\">CNN Business</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":{"TSLA":"特斯拉"},"source_url":"https://edition.cnn.com/2021/02/23/investing/tesla-shares-bear-market/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106446066","content_text":"New York (CNN Business) - Tesla, the hottest stock in the market for more than a year, has sunk into bear market territory.\nShares of Tesla fell 6% Tuesday after closing down 8.5% Monday, wiping out its gains for the year. The stock closed at a record just above $883 on January 26 and has tumbled since. It fell low as $619 Tuesday, the first time Tesla shares have fallen below $700 since December 31.\nThe steep decline has taken Tesla shares below their level when the company entered the S&P 500 on December 21. It also knocked CEO Elon Musk into the No. 2 position in the richest person on the planet list, behind Amazon founder Jeff Bezos. The two have been swapping positions repeatedly this year.\nTesla's stock is selling off for several reasons:\nBitcoin\nTesla announced earlier this month that it had invested $1.5 billion in bitcoin. That helped feed the recent rally in bitcoin and by some estimates earned Tesla a quick $1 billion profit — more than it has ever made from selling cars in a single year.\nBut on Saturday, in response to a critic of Tesla's bitcoin investment, Musk tweeted that the prices of both bitcoin and another cryptocurrency called Ether \"do seem high.\" That helped to send the price of bitcoin down 9.3% in trading Monday, which may have helped to drag down Tesla shares.\n\"Bitcoin is the smart move at the right time for Tesla in our opinion, but on the downside its playing with firecrackers and risks and volatility are added to the Tesla story,\" said Daniel Ives, tech analyst for Wedbush Securities, who remains bullish on Tesla shares.\nModel Y pricing\nLast Thursday, Tesla cut the price of the cheapest version of its Model Y and its best-selling Model 3 cars by $2,000 each. That brought the price for the \"standard range\" Model Y, one that can travel 244 miles on a charge, to $38,490 -- and the standard range Model 3 to $34,590.\nBut over the weekend, the cheapest \"standard range\" version of the Model Y disappeared from Tesla's sales site, leaving only the more expensive long-range and performance versions of the SUV. Tesla did not explain its decision.\n\"We see the plausible reasons as either: the mix was skewed too much to the cheaper variant, and thus it was going to kill their margins, or more likely there just wasn't much demand for the lower variant,\" said Gordon Johnson of GLJ Research, one of the more bearish critics on Tesla shares. He said the recent price cuts and other price cuts show that Tesla vehicles do not have the demand that its fans claim.\n\"Tesla can't keep its current factories running at capacity without ... price cuts,\" said Johnson in note on Monday.\nIncreased competition\nEstablished automakers have recently set ambitious targets for their own EV sales.\nGeneral Motors rolled out an SUV version of its Chevrolet Bolt a week ago, priced well below the Model Y, and announced it intends to sell only emissions-free cars after 2035.Ford set an even more ambitious EV target for its European sales, saying all of the car models it sells there will be EVs by 2030.\nApple is also considering partnering with an automaker toget into the car business, according to several news reports.\nThose efforts are making some Tesla investors nervous, said Ives, although he believes there will be enough of a shift to EVs for multiple winners among global automakers.\nInvestors got ahead of themselves\nTesla shares peaked one day before a disappointing earnings report on January 27 that fell short of forecasts from Wall Street analysts.\nThe earnings showed that the money Tesla made from the sale of regulatory credits to other automakers outpaced its overall net income. Critics, like Johnson, said it's proof Tesla isn't able to make money building and selling cars (although by some other profit measures Tesla is profitable).\nDuring the earnings conference call on January 27, Musk also spoke about a shortage of batteries needed to power electric vehicles. He said that even with Tesla's own in-house supply of batteries and its planned expansion of battery production, the company is scrambling to find the batteries it wants to build more vehicles.\n\"The fundamental limit on electric vehicles right now, in general, is total availability of [battery] cells,\" he said. For example, Musk said Tesla would have already started producing a semi-tractor if it had the batteries available to do so.\nShares are still way up\nTesla shares rose a market-leading 743% in 2020, as investors embraced the idea that the future of the auto industry would be electric. Tesla remains by far the most valuable automaker in the world, with a market value well above that of the eight largest automakers combined.\nEven with the recent decline. Tesla shares are up about 1,300% since October 2019, when it reported a third-quarter profit that surprised investors, sending shares on a tear.\nSome investors believe Tesla's stock flew too high. Yet many analysts believe Tesla will bounce back. Ives has a 12-month target price of $950.\nEven so, he has a warning: \"It's 'buckle up the seat belt time' again for Tesla's stock with more volatility on the horizon,\" Ives said.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":680,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":381435816,"gmtCreate":1612974079935,"gmtModify":1703767907183,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575522252515458","idStr":"3575522252515458"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381435816","repostId":"1136063454","repostType":4,"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389433158,"gmtCreate":1612794263974,"gmtModify":1703765113391,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575522252515458","idStr":"3575522252515458"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389433158","repostId":"1133468331","repostType":4,"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389439401,"gmtCreate":1612794234303,"gmtModify":1703765112365,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575522252515458","idStr":"3575522252515458"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389439401","repostId":"1163750848","repostType":4,"isVote":1,"tweetType":1,"viewCount":681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":100026287,"gmtCreate":1619570304849,"gmtModify":1634211709190,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Swee","listText":"Swee","text":"Swee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/100026287","repostId":"1187199105","repostType":4,"repost":{"id":"1187199105","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":1619566832,"share":"https://www.laohu8.com/m/news/1187199105?lang=zh_CN&edition=full","pubTime":"2021-04-28 07:40","market":"us","language":"en","title":"AMD stock rises after earnings show data-center sales more than doubling<blockquote>财报显示数据中心销售额增长一倍多后，AMD股价上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1187199105","media":"Tiger Newspress","summary":"AMD increases full-year revenue guidance after record quarterly sales, stock jumps more than 3% in e","content":"<p>AMD increases full-year revenue guidance after record quarterly sales, stock jumps more than 3% in extended session<img src=\"https://static.tigerbbs.com/174cfb55080b96346856b267d6c023ed\" tg-width=\"706\" tg-height=\"523\" referrerpolicy=\"no-referrer\">Advanced Micro Devices Inc. shares rose in the extended session Tuesday after the chip maker said data-center revenue more than doubled to fuel record quarterly sales, and increased its revenue forecast for the year.</p><p><blockquote>AMD在创纪录的季度销售额后上调全年收入指引，股价在延长交易时段上涨逾3%芯片制造商Advanced Micro Devices Inc.表示，数据中心收入增长了一倍多，推动了创纪录的季度销售额，并上调了今年的收入预期，该公司股价在周二的延长交易中上涨。</blockquote></p><p>“In the first quarter, data-center product revenue more than doubled year-over-year and represented a high teens percentage of our overall revenue,” said AMD&nbsp;Chief Executive Lisa Su on a call with analysts. “We expect data-center product revenue to grow significantly as we go through the year driven by our strong pipeline of new cloud, enterprise and [high-performance computing] wins.”</p><p><blockquote>AMD首席执行官苏姿丰在与分析师的看涨期权中表示：“第一季度，数据中心产品收入同比增长了一倍多，占我们总收入的比例很高。”“我们预计，在我们强大的新云、企业和[高性能计算]胜利渠道的推动下，数据中心产品收入将在今年大幅增长。”</blockquote></p><p>Sales from enterprise embedded and semi-custom chips — the unit that includes data-center and gaming-console revenue — nearly quadrupled to $1.35 billion, compared with $348 million a year ago. Analysts surveyed by FactSet expected $1.3 billion. Su’s comments about data-center revenue were helpful asAMD does not break out data-center sales from gaming sales.</p><p><blockquote>企业嵌入式和半定制芯片（包括数据中心和游戏机收入）的销售额几乎翻了两番，达到13.5亿美元，而一年前为3.48亿美元。FactSet调查的分析师预计为13亿美元。苏关于数据中心收入的评论很有帮助，因为AMD不会将数据中心销售额与游戏销售额分开。</blockquote></p><p>“I think we saw actually strong signals in the first quarter that it would be a strong data-center year for us,” Su told analysts.</p><p><blockquote>“我认为我们在第一季度看到了真正强烈的信号，表明今年对我们来说将是数据中心强劲的一年，”苏告诉分析师。</blockquote></p><p>Last week, Intel Corp&nbsp;said the data-center market was in a“digestion phase,”contributing to a 20% drop in sales for data centers, yetanalysts pointed to increased competition from AMD and ARM Holdings PLC.</p><p><blockquote>上周，英特尔公司表示，数据中心市场正处于“消化阶段”，导致数据中心销售额下降20%，但分析师指出，来自AMD和ARM Holdings PLC的竞争加剧。</blockquote></p><p>AMD reported first-quarter net income of $555 million, or 45 cents a share, compared with $162 million, or 14 cents a share, in the year-ago period. After adjusting for stock-based compensation and other factors, the Santa Clara, Calif.-based company reported earnings of 52 cents a share, compared with 18 cents a share in the year-ago period. Revenue rose to $3.45 billion from $1.79 billion in the year-ago quarter.</p><p><blockquote>AMD公布第一季度净利润为5.55亿美元，即每股45美分，而去年同期为1.62亿美元，即每股14美分。在调整股票薪酬和其他因素后，这家总部位于加利福尼亚州圣克拉拉的公司报告每股收益为52美分，而去年同期为每股18美分。收入从去年同期的17.9亿美元增至34.5亿美元。</blockquote></p><p>Analysts surveyed by FactSet had forecast adjusted earnings of 44 cents a share on revenue of $3.18 billion, and AMD projected between $3.1 billion and $3.3 billion.</p><p><blockquote>FactSet调查的分析师此前预测调整后每股收益为44美分，营收为31.8亿美元，AMD预计在31亿至33亿美元之间。</blockquote></p><p>AMD reported first-quarter sales of $2.1 billion for computing and graphics chips, up 46% from $1.44 billion last year, compared with analyst expectations of $1.89 billion.</p><p><blockquote>AMD公布第一季度计算和图形芯片销售额为21亿美元，较去年的14.4亿美元增长46%，分析师预期为18.9亿美元。</blockquote></p><p>Executives also increased AMD’s guidance for the full year, to a sales increase of about 50% from previous guidance of a roughly 37% increase. AMD reported revenue of $9.67 billion last year, suggesting sales of about $14.65 billion this year; analysts had been forecasting revenue of $13.46 billion, according to FactSet.</p><p><blockquote>高管们还提高了AMD全年销售额指引，从之前指引的约37%增长至约50%。AMD去年营收为96.7亿美元，暗示今年销售额约为146.5亿美元；FactSet的数据显示，分析师此前预测营收为134.6亿美元。</blockquote></p><p>AMD expects second-quarter revenue of $3.5 billion to $3.7 billion, while analysts had been projecting $3.23 billion, according to FactSet.</p><p><blockquote>FactSet的数据显示，AMD预计第二季度营收为35亿至37亿美元，而分析师此前预计为32.3亿美元。</blockquote></p><p>Shares gained more than 3% in after-hours trading, following a 0.2% decline in the regular session to close at $85.21.</p><p><blockquote>该股在常规交易中下跌0.2%，收于85.21美元，在盘后交易中上涨超过3%。</blockquote></p><p>AMD’s strong earnings come amid a continuing shortage of microchips to sate demand from global industries, and the companies that make the silicon wafers that chip designs use, work to clear waiting lists that span several months.</p><p><blockquote>AMD的强劲盈利是在满足全球行业需求的微芯片持续短缺的情况下出现的，而制造芯片设计所用硅片的公司正在努力清理长达数月的等待名单。</blockquote></p><p>More of how the chip sector is dealing with supply shortages will be revealed this week, with Qualcomm Inc.QCOM,-0.68%earnings on Wednesday and KLA Corp.KLAC,-1.58%earnings on Thursday.</p><p><blockquote>芯片行业如何应对供应短缺的更多信息将于本周公布，高通公司(Qualcomm Inc.QCOM)周三盈利-0.68%，KLA Corp.KLAC(KLAC)周四盈利-1.58%。</blockquote></p><p>Over the past 12 months, AMD shares have gained 51%. In comparison, the PHLX Semiconductor IndexSOX,-0.76%has gained 87%, the S&amp;P 500 index&nbsp;has risen 54%, and the tech-heavy Nasdaq Composite Index&nbsp;is up 61%.</p><p><blockquote>过去12个月，AMD股价上涨了51%。相比之下，PHLX半导体指数SOX,-0.76%上涨87%，标普500指数上涨54%，以科技股为主的纳斯达克综合指数上涨61%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMD stock rises after earnings show data-center sales more than doubling<blockquote>财报显示数据中心销售额增长一倍多后，AMD股价上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMD stock rises after earnings show data-center sales more than doubling<blockquote>财报显示数据中心销售额增长一倍多后，AMD股价上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-28 07:40</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMD increases full-year revenue guidance after record quarterly sales, stock jumps more than 3% in extended session<img src=\"https://static.tigerbbs.com/174cfb55080b96346856b267d6c023ed\" tg-width=\"706\" tg-height=\"523\" referrerpolicy=\"no-referrer\">Advanced Micro Devices Inc. shares rose in the extended session Tuesday after the chip maker said data-center revenue more than doubled to fuel record quarterly sales, and increased its revenue forecast for the year.</p><p><blockquote>AMD在创纪录的季度销售额后上调全年收入指引，股价在延长交易时段上涨逾3%芯片制造商Advanced Micro Devices Inc.表示，数据中心收入增长了一倍多，推动了创纪录的季度销售额，并上调了今年的收入预期，该公司股价在周二的延长交易中上涨。</blockquote></p><p>“In the first quarter, data-center product revenue more than doubled year-over-year and represented a high teens percentage of our overall revenue,” said AMD&nbsp;Chief Executive Lisa Su on a call with analysts. “We expect data-center product revenue to grow significantly as we go through the year driven by our strong pipeline of new cloud, enterprise and [high-performance computing] wins.”</p><p><blockquote>AMD首席执行官苏姿丰在与分析师的看涨期权中表示：“第一季度，数据中心产品收入同比增长了一倍多，占我们总收入的比例很高。”“我们预计，在我们强大的新云、企业和[高性能计算]胜利渠道的推动下，数据中心产品收入将在今年大幅增长。”</blockquote></p><p>Sales from enterprise embedded and semi-custom chips — the unit that includes data-center and gaming-console revenue — nearly quadrupled to $1.35 billion, compared with $348 million a year ago. Analysts surveyed by FactSet expected $1.3 billion. Su’s comments about data-center revenue were helpful asAMD does not break out data-center sales from gaming sales.</p><p><blockquote>企业嵌入式和半定制芯片（包括数据中心和游戏机收入）的销售额几乎翻了两番，达到13.5亿美元，而一年前为3.48亿美元。FactSet调查的分析师预计为13亿美元。苏关于数据中心收入的评论很有帮助，因为AMD不会将数据中心销售额与游戏销售额分开。</blockquote></p><p>“I think we saw actually strong signals in the first quarter that it would be a strong data-center year for us,” Su told analysts.</p><p><blockquote>“我认为我们在第一季度看到了真正强烈的信号，表明今年对我们来说将是数据中心强劲的一年，”苏告诉分析师。</blockquote></p><p>Last week, Intel Corp&nbsp;said the data-center market was in a“digestion phase,”contributing to a 20% drop in sales for data centers, yetanalysts pointed to increased competition from AMD and ARM Holdings PLC.</p><p><blockquote>上周，英特尔公司表示，数据中心市场正处于“消化阶段”，导致数据中心销售额下降20%，但分析师指出，来自AMD和ARM Holdings PLC的竞争加剧。</blockquote></p><p>AMD reported first-quarter net income of $555 million, or 45 cents a share, compared with $162 million, or 14 cents a share, in the year-ago period. After adjusting for stock-based compensation and other factors, the Santa Clara, Calif.-based company reported earnings of 52 cents a share, compared with 18 cents a share in the year-ago period. Revenue rose to $3.45 billion from $1.79 billion in the year-ago quarter.</p><p><blockquote>AMD公布第一季度净利润为5.55亿美元，即每股45美分，而去年同期为1.62亿美元，即每股14美分。在调整股票薪酬和其他因素后，这家总部位于加利福尼亚州圣克拉拉的公司报告每股收益为52美分，而去年同期为每股18美分。收入从去年同期的17.9亿美元增至34.5亿美元。</blockquote></p><p>Analysts surveyed by FactSet had forecast adjusted earnings of 44 cents a share on revenue of $3.18 billion, and AMD projected between $3.1 billion and $3.3 billion.</p><p><blockquote>FactSet调查的分析师此前预测调整后每股收益为44美分，营收为31.8亿美元，AMD预计在31亿至33亿美元之间。</blockquote></p><p>AMD reported first-quarter sales of $2.1 billion for computing and graphics chips, up 46% from $1.44 billion last year, compared with analyst expectations of $1.89 billion.</p><p><blockquote>AMD公布第一季度计算和图形芯片销售额为21亿美元，较去年的14.4亿美元增长46%，分析师预期为18.9亿美元。</blockquote></p><p>Executives also increased AMD’s guidance for the full year, to a sales increase of about 50% from previous guidance of a roughly 37% increase. AMD reported revenue of $9.67 billion last year, suggesting sales of about $14.65 billion this year; analysts had been forecasting revenue of $13.46 billion, according to FactSet.</p><p><blockquote>高管们还提高了AMD全年销售额指引，从之前指引的约37%增长至约50%。AMD去年营收为96.7亿美元，暗示今年销售额约为146.5亿美元；FactSet的数据显示，分析师此前预测营收为134.6亿美元。</blockquote></p><p>AMD expects second-quarter revenue of $3.5 billion to $3.7 billion, while analysts had been projecting $3.23 billion, according to FactSet.</p><p><blockquote>FactSet的数据显示，AMD预计第二季度营收为35亿至37亿美元，而分析师此前预计为32.3亿美元。</blockquote></p><p>Shares gained more than 3% in after-hours trading, following a 0.2% decline in the regular session to close at $85.21.</p><p><blockquote>该股在常规交易中下跌0.2%，收于85.21美元，在盘后交易中上涨超过3%。</blockquote></p><p>AMD’s strong earnings come amid a continuing shortage of microchips to sate demand from global industries, and the companies that make the silicon wafers that chip designs use, work to clear waiting lists that span several months.</p><p><blockquote>AMD的强劲盈利是在满足全球行业需求的微芯片持续短缺的情况下出现的，而制造芯片设计所用硅片的公司正在努力清理长达数月的等待名单。</blockquote></p><p>More of how the chip sector is dealing with supply shortages will be revealed this week, with Qualcomm Inc.QCOM,-0.68%earnings on Wednesday and KLA Corp.KLAC,-1.58%earnings on Thursday.</p><p><blockquote>芯片行业如何应对供应短缺的更多信息将于本周公布，高通公司(Qualcomm Inc.QCOM)周三盈利-0.68%，KLA Corp.KLAC(KLAC)周四盈利-1.58%。</blockquote></p><p>Over the past 12 months, AMD shares have gained 51%. In comparison, the PHLX Semiconductor IndexSOX,-0.76%has gained 87%, the S&amp;P 500 index&nbsp;has risen 54%, and the tech-heavy Nasdaq Composite Index&nbsp;is up 61%.</p><p><blockquote>过去12个月，AMD股价上涨了51%。相比之下，PHLX半导体指数SOX,-0.76%上涨87%，标普500指数上涨54%，以科技股为主的纳斯达克综合指数上涨61%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMD":"美国超微公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187199105","content_text":"AMD increases full-year revenue guidance after record quarterly sales, stock jumps more than 3% in extended sessionAdvanced Micro Devices Inc. shares rose in the extended session Tuesday after the chip maker said data-center revenue more than doubled to fuel record quarterly sales, and increased its revenue forecast for the year.“In the first quarter, data-center product revenue more than doubled year-over-year and represented a high teens percentage of our overall revenue,” said AMD Chief Executive Lisa Su on a call with analysts. “We expect data-center product revenue to grow significantly as we go through the year driven by our strong pipeline of new cloud, enterprise and [high-performance computing] wins.”Sales from enterprise embedded and semi-custom chips — the unit that includes data-center and gaming-console revenue — nearly quadrupled to $1.35 billion, compared with $348 million a year ago. Analysts surveyed by FactSet expected $1.3 billion. Su’s comments about data-center revenue were helpful asAMD does not break out data-center sales from gaming sales.“I think we saw actually strong signals in the first quarter that it would be a strong data-center year for us,” Su told analysts.Last week, Intel Corp said the data-center market was in a“digestion phase,”contributing to a 20% drop in sales for data centers, yetanalysts pointed to increased competition from AMD and ARM Holdings PLC.AMD reported first-quarter net income of $555 million, or 45 cents a share, compared with $162 million, or 14 cents a share, in the year-ago period. After adjusting for stock-based compensation and other factors, the Santa Clara, Calif.-based company reported earnings of 52 cents a share, compared with 18 cents a share in the year-ago period. Revenue rose to $3.45 billion from $1.79 billion in the year-ago quarter.Analysts surveyed by FactSet had forecast adjusted earnings of 44 cents a share on revenue of $3.18 billion, and AMD projected between $3.1 billion and $3.3 billion.AMD reported first-quarter sales of $2.1 billion for computing and graphics chips, up 46% from $1.44 billion last year, compared with analyst expectations of $1.89 billion.Executives also increased AMD’s guidance for the full year, to a sales increase of about 50% from previous guidance of a roughly 37% increase. AMD reported revenue of $9.67 billion last year, suggesting sales of about $14.65 billion this year; analysts had been forecasting revenue of $13.46 billion, according to FactSet.AMD expects second-quarter revenue of $3.5 billion to $3.7 billion, while analysts had been projecting $3.23 billion, according to FactSet.Shares gained more than 3% in after-hours trading, following a 0.2% decline in the regular session to close at $85.21.AMD’s strong earnings come amid a continuing shortage of microchips to sate demand from global industries, and the companies that make the silicon wafers that chip designs use, work to clear waiting lists that span several months.More of how the chip sector is dealing with supply shortages will be revealed this week, with Qualcomm Inc.QCOM,-0.68%earnings on Wednesday and KLA Corp.KLAC,-1.58%earnings on Thursday.Over the past 12 months, AMD shares have gained 51%. In comparison, the PHLX Semiconductor IndexSOX,-0.76%has gained 87%, the S&P 500 index has risen 54%, and the tech-heavy Nasdaq Composite Index is up 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<a href=\"https://laohu8.com/U/3548820591552468\">@大小龙</a>:Ok//<a href=\"https://laohu8.com/U/3548820591552468\">@大小龙</a>:阅","listText":"回复 <a href=\"https://laohu8.com/U/3548820591552468\">@大小龙</a>:Ok//<a href=\"https://laohu8.com/U/3548820591552468\">@大小龙</a>:阅","text":"回复 @大小龙:Ok//@大小龙:阅","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/872734361","repostId":"876666677","repostType":1,"repost":{"id":876666677,"gmtCreate":1637306206596,"gmtModify":1637378374098,"author":{"id":"9000000000000112","authorId":"9000000000000112","name":"贝拉聊财金","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"9000000000000112","authorIdStr":"9000000000000112"},"themes":[],"title":"","htmlText":"\n \n \n  美国上周初请失业救济人数降至26.8万，创疫情以来最低水平。11月费城联储制造业指数创4月以来新高。。。梅西百货，又彪了。。。幸福的股票千篇一律，悲剧的股票 各不相同...\n \n","listText":"美国上周初请失业救济人数降至26.8万，创疫情以来最低水平。11月费城联储制造业指数创4月以来新高。。。梅西百货，又彪了。。。幸福的股票千篇一律，悲剧的股票 各不相同...","text":"美国上周初请失业救济人数降至26.8万，创疫情以来最低水平。11月费城联储制造业指数创4月以来新高。。。梅西百货，又彪了。。。幸福的股票千篇一律，悲剧的股票 各不相同...","images":[],"top":1,"highlighted":2,"essential":2,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/876666677","isVote":1,"tweetType":2,"object":{"id":"773d29a2d44945788930d783819f0b42","tweetId":"876666677","title":"第577期：“恐怖数据”远超预期 ...! ➟ ➠ SoFi ~ Peloton ~ Jumia  ➟ ➠ 幸福的股票千篇一律，悲剧的股票各不相同...！","videoUrl":"http://v.tigerbbs.com/16373062032828008de9213ef95943ba374bd08916bb7.mp4","poster":"https://static.tigerbbs.com/1e13da83d7b82c3b2b17e2d970044a31","shareLink":"http://v.tigerbbs.com/16373062032828008de9213ef95943ba374bd08916bb7.mp4"},"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1754,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":130757720,"gmtCreate":1621569145360,"gmtModify":1631894053274,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Oj","listText":"Oj","text":"Oj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130757720","repostId":"2137763179","repostType":4,"isVote":1,"tweetType":1,"viewCount":2110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197080955,"gmtCreate":1621410898577,"gmtModify":1631894053286,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197080955","repostId":"1158638540","repostType":4,"repost":{"id":"1158638540","kind":"news","pubTimestamp":1621409180,"share":"https://www.laohu8.com/m/news/1158638540?lang=zh_CN&edition=full","pubTime":"2021-05-19 15:26","market":"us","language":"en","title":"4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158638540","media":"Barrons","summary":"The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.The company offers various tools for website creation, including domains, e-comme","content":"<p>The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.</p><p><blockquote>疫情促使许多小企业首次获得在线店面，掀起了一股电子商务浪潮，帮助网站创建平台Squarespace Inc.加速了收入增长。</blockquote></p><p> Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.</p><p><blockquote>现在，Squarespace将测试作为一家上市公司电子商务势头的弹性。其股票定于周三开始在纽约证券交易所直接上市交易，股票代码为SQSP。</blockquote></p><p> The company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.</p><p><blockquote>该公司提供各种网站创建工具，包括域名、电子商务功能和营销能力。Squarespace旨在与网络专业知识有限的小型企业以及需要更大灵活性以根据其需求进行定制的“大品牌”合作。</blockquote></p><p> Squarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in&nbsp;its filing with the Securities and Exchange Commission.</p><p><blockquote>Squarespace认为自己正在顺应许多趋势，包括企业越来越需要与客户保持直接关系，以及越来越重视自己动手的解决方案，这些解决方案“正在迅速取代昂贵的代理机构，并使同等的设计质量脱颖而出”该公司在向美国证券交易委员会提交的文件中表示，“所有人都可以访问且易于使用”。</blockquote></p><p> The company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.</p><p><blockquote>该公司在3月份的一轮融资中筹集了3亿美元，使该公司的企业估值达到100亿美元，并且在上市时没有筹集任何新的资金。以下是您需要了解的关于该公司的其他信息。</blockquote></p><p> <b>Growing Revenue, Shrinking Profits</b></p><p><blockquote><b>收入增长，利润缩水</b></blockquote></p><p> Squarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.</p><p><blockquote>Squarespace 2020年收入为6.21亿美元，高于上年同期的4.85亿美元。最近一财年的收入增长了28%，高于上一季度24%的增长率。</blockquote></p><p> The company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.</p><p><blockquote>该公司将94%的收入归类为基于订阅的收入。Squarespace在2020年增加了约70万个新的独立订阅，该公司透露，超过三分之二的总订阅是年度订阅。</blockquote></p><p> About 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.</p><p><blockquote>Squarespace去年约70%的收入来自美国，其余来自国际。</blockquote></p><p> Squarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.</p><p><blockquote>Squarespace去年实现盈利，净利润约为3060万美元，但利润低于2019年的5820万美元。MKM Partners分析师Rohit Kulkarni写道，该公司的“基本面凸显了盈利能力和大规模增长的罕见结合”。</blockquote></p><p> Despite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.</p><p><blockquote>尽管每年都实现盈利，但Squarespace在2021年第一季度净亏损为1010万美元，而去年同期亏损为110万美元。该公司在2020年最后三个季度均实现盈利。</blockquote></p><p> <b>Competition Aplenty</b></p><p><blockquote><b>竞争激烈</b></blockquote></p><p> The company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like&nbsp;Wix.com&nbsp;(ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse&nbsp;Shopify&nbsp;(ticker: SHOP),&nbsp;which lets businesses set up online shops.</p><p><blockquote>根据其文件，该公司与电子商务行业的各种不同参与者竞争。Squarespace将Wix等网络创建平台视为其竞争对手。com（股票代码：WIX）和Square(SQ)Weebly，以及允许企业建立在线商店的电子商务巨头Shopify（股票代码：SHOP）。</blockquote></p><p> Squarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.</p><p><blockquote>Squarespace还评级了GoDaddy(GDDY)等提供域名工具以及提供电子邮件营销和日程安排功能的竞争对手，同时辩称其自己的“全面、一体化平台、多渠道商务能力”是一项资产。</blockquote></p><p> Jefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.</p><p><blockquote>Jefferies分析师Brent Thill指出，Wix比Squarespace规模更大，去年的收入为9.89亿美元，而Squarespace的收入为6.21亿美元。此外，他写道，Squarespace去年的收入与Wix 2018年的收入相似，但Wix在这一规模上的增长更快，而且没有受益于大流行推动的更广泛的电子商务加速。</blockquote></p><p> <b>On the Menu</b></p><p><blockquote><b>在菜单上</b></blockquote></p><p> SquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.</p><p><blockquote>SquareSpace最近完成了对Tock的4.15亿美元收购，Tock是一家专注于餐饮和酒店行业的公司。Tock的服务允许企业管理预订、外卖、活动票务等。</blockquote></p><p> This part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.</p><p><blockquote>MKM的库尔卡尼表示，这部分业务可能会使SquareSpace与更多科技巨头竞争。</blockquote></p><p> “SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash&nbsp;(DASH) and&nbsp;Grubhub&nbsp;(GRUB),&nbsp;along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.</p><p><blockquote>“SquareSpace提供的Tock产品面临着来自Uber Eats(UBER)、DoorDash(DASH)和Grubhub(GRUB)等配送服务以及TouchBistro和Toast等其他餐厅[客户关系管理]服务的竞争，”他写道。</blockquote></p><p> At the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.</p><p><blockquote>与此同时，此次收购是Squarespace“巧妙地多元化，不仅在线销售实物商品，还增加日历/日程安排功能（餐厅或健身房预订）、内容销售和订阅”的一个例子，他继续说道。</blockquote></p><p> <b>Marketing Bucks</b></p><p><blockquote><b>营销雄鹿</b></blockquote></p><p> Squarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.</p><p><blockquote>Squarespace的营销和销售成本增长速度远远快于其收入增长速度。该公司去年的此类费用为310万美元，高于2019年的170万美元，增长了45%，而同期收入增长了28%。</blockquote></p><p></p><p> The company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”</p><p><blockquote>该公司的播客广告可能为经常听众所熟悉，尽管Squarespace在其招股说明书中指出，它使用“在线关键字搜索、赞助和名人代言、电视、播客、印刷和在线广告、电子邮件和社交媒体营销”广泛宣传其服务。”</blockquote></p><p> Among its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.</p><p><blockquote>在其风险因素中，Squarespace指出，Alphabet（GOOGL）的谷歌可能会改变其算法或提高其搜索引擎营销工具的成本。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</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\">\n4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-19 15:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.</p><p><blockquote>疫情促使许多小企业首次获得在线店面，掀起了一股电子商务浪潮，帮助网站创建平台Squarespace Inc.加速了收入增长。</blockquote></p><p> Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.</p><p><blockquote>现在，Squarespace将测试作为一家上市公司电子商务势头的弹性。其股票定于周三开始在纽约证券交易所直接上市交易，股票代码为SQSP。</blockquote></p><p> The company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.</p><p><blockquote>该公司提供各种网站创建工具，包括域名、电子商务功能和营销能力。Squarespace旨在与网络专业知识有限的小型企业以及需要更大灵活性以根据其需求进行定制的“大品牌”合作。</blockquote></p><p> Squarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in&nbsp;its filing with the Securities and Exchange Commission.</p><p><blockquote>Squarespace认为自己正在顺应许多趋势，包括企业越来越需要与客户保持直接关系，以及越来越重视自己动手的解决方案，这些解决方案“正在迅速取代昂贵的代理机构，并使同等的设计质量脱颖而出”该公司在向美国证券交易委员会提交的文件中表示，“所有人都可以访问且易于使用”。</blockquote></p><p> The company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.</p><p><blockquote>该公司在3月份的一轮融资中筹集了3亿美元，使该公司的企业估值达到100亿美元，并且在上市时没有筹集任何新的资金。以下是您需要了解的关于该公司的其他信息。</blockquote></p><p> <b>Growing Revenue, Shrinking Profits</b></p><p><blockquote><b>收入增长，利润缩水</b></blockquote></p><p> Squarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.</p><p><blockquote>Squarespace 2020年收入为6.21亿美元，高于上年同期的4.85亿美元。最近一财年的收入增长了28%，高于上一季度24%的增长率。</blockquote></p><p> The company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.</p><p><blockquote>该公司将94%的收入归类为基于订阅的收入。Squarespace在2020年增加了约70万个新的独立订阅，该公司透露，超过三分之二的总订阅是年度订阅。</blockquote></p><p> About 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.</p><p><blockquote>Squarespace去年约70%的收入来自美国，其余来自国际。</blockquote></p><p> Squarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.</p><p><blockquote>Squarespace去年实现盈利，净利润约为3060万美元，但利润低于2019年的5820万美元。MKM Partners分析师Rohit Kulkarni写道，该公司的“基本面凸显了盈利能力和大规模增长的罕见结合”。</blockquote></p><p> Despite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.</p><p><blockquote>尽管每年都实现盈利，但Squarespace在2021年第一季度净亏损为1010万美元，而去年同期亏损为110万美元。该公司在2020年最后三个季度均实现盈利。</blockquote></p><p> <b>Competition Aplenty</b></p><p><blockquote><b>竞争激烈</b></blockquote></p><p> The company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like&nbsp;Wix.com&nbsp;(ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse&nbsp;Shopify&nbsp;(ticker: SHOP),&nbsp;which lets businesses set up online shops.</p><p><blockquote>根据其文件，该公司与电子商务行业的各种不同参与者竞争。Squarespace将Wix等网络创建平台视为其竞争对手。com（股票代码：WIX）和Square(SQ)Weebly，以及允许企业建立在线商店的电子商务巨头Shopify（股票代码：SHOP）。</blockquote></p><p> Squarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.</p><p><blockquote>Squarespace还评级了GoDaddy(GDDY)等提供域名工具以及提供电子邮件营销和日程安排功能的竞争对手，同时辩称其自己的“全面、一体化平台、多渠道商务能力”是一项资产。</blockquote></p><p> Jefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.</p><p><blockquote>Jefferies分析师Brent Thill指出，Wix比Squarespace规模更大，去年的收入为9.89亿美元，而Squarespace的收入为6.21亿美元。此外，他写道，Squarespace去年的收入与Wix 2018年的收入相似，但Wix在这一规模上的增长更快，而且没有受益于大流行推动的更广泛的电子商务加速。</blockquote></p><p> <b>On the Menu</b></p><p><blockquote><b>在菜单上</b></blockquote></p><p> SquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.</p><p><blockquote>SquareSpace最近完成了对Tock的4.15亿美元收购，Tock是一家专注于餐饮和酒店行业的公司。Tock的服务允许企业管理预订、外卖、活动票务等。</blockquote></p><p> This part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.</p><p><blockquote>MKM的库尔卡尼表示，这部分业务可能会使SquareSpace与更多科技巨头竞争。</blockquote></p><p> “SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash&nbsp;(DASH) and&nbsp;Grubhub&nbsp;(GRUB),&nbsp;along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.</p><p><blockquote>“SquareSpace提供的Tock产品面临着来自Uber Eats(UBER)、DoorDash(DASH)和Grubhub(GRUB)等配送服务以及TouchBistro和Toast等其他餐厅[客户关系管理]服务的竞争，”他写道。</blockquote></p><p> At the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.</p><p><blockquote>与此同时，此次收购是Squarespace“巧妙地多元化，不仅在线销售实物商品，还增加日历/日程安排功能（餐厅或健身房预订）、内容销售和订阅”的一个例子，他继续说道。</blockquote></p><p> <b>Marketing Bucks</b></p><p><blockquote><b>营销雄鹿</b></blockquote></p><p> Squarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.</p><p><blockquote>Squarespace的营销和销售成本增长速度远远快于其收入增长速度。该公司去年的此类费用为310万美元，高于2019年的170万美元，增长了45%，而同期收入增长了28%。</blockquote></p><p></p><p> The company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”</p><p><blockquote>该公司的播客广告可能为经常听众所熟悉，尽管Squarespace在其招股说明书中指出，它使用“在线关键字搜索、赞助和名人代言、电视、播客、印刷和在线广告、电子邮件和社交媒体营销”广泛宣传其服务。”</blockquote></p><p> Among its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.</p><p><blockquote>在其风险因素中，Squarespace指出，Alphabet（GOOGL）的谷歌可能会改变其算法或提高其搜索引擎营销工具的成本。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/squarespace-direct-listing-51621376597?mod=hp_LEAD_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SQSP":"Squarespace Inc."},"source_url":"https://www.barrons.com/articles/squarespace-direct-listing-51621376597?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158638540","content_text":"The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.\nNow Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.\nThe company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.\nSquarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in its filing with the Securities and Exchange Commission.\nThe company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.\nGrowing Revenue, Shrinking Profits\nSquarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.\nThe company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.\nAbout 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.\nSquarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.\nDespite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.\nCompetition Aplenty\nThe company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like Wix.com (ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse Shopify (ticker: SHOP), which lets businesses set up online shops.\nSquarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.\nJefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.\nOn the Menu\nSquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.\nThis part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.\n“SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash (DASH) and Grubhub (GRUB), along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.\nAt the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.\nMarketing Bucks\nSquarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.\nThe company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”\nAmong its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.","news_type":1,"symbols_score_info":{"SQSP":0.9}},"isVote":1,"tweetType":1,"viewCount":1734,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181963377,"gmtCreate":1623370791299,"gmtModify":1631894053223,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/181963377","repostId":"1184353870","repostType":4,"isVote":1,"tweetType":1,"viewCount":1181,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183950509,"gmtCreate":1623302112401,"gmtModify":1631894053248,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183950509","repostId":"2142241372","repostType":4,"isVote":1,"tweetType":1,"viewCount":1309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322891708,"gmtCreate":1615791457204,"gmtModify":1703492987725,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322891708","repostId":"1100888274","repostType":4,"repost":{"id":"1100888274","kind":"news","pubTimestamp":1615786808,"share":"https://www.laohu8.com/m/news/1100888274?lang=zh_CN&edition=full","pubTime":"2021-03-15 13:40","market":"fut","language":"en","title":"Why inflation makes holding bonds for the long run riskier than owning stocks<blockquote>为什么通货膨胀使长期持有债券比持有股票风险更大</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100888274","media":"MarketWatch","summary":"You’d have to hold U.S. Treasury bonds for 57 years to not lose to inflation\nHow long is the long te","content":"<p>You’d have to hold U.S. Treasury bonds for 57 years to not lose to inflation</p><p><blockquote>你必须持有美国国债57年才能不输给通货膨胀</blockquote></p><p> How long is the long term in the bond market? Would you believe 57 years? That’s how long you must be prepared to own U.S. government bonds if you want to be assured of not losing to inflation.</p><p><blockquote>债券市场的长期有多长？你相信57年吗？如果你想确保不输给通货膨胀，你必须准备持有美国政府债券的时间。</blockquote></p><p> This depressing statistic comes from the just-released 2021 edition of Credit Suisse’s&nbsp;Global Investment Returns Yearbook. The authors — Elroy Dimson, a finance professor at Cambridge University, Paul Marsh, a finance professor at the London Business School and Mike Staunton, director of that institution’s London Share Price Database — measured the longest period in U.S. history (since 1900) over which U.S. government bonds produced an inflation-adjusted loss.</p><p><blockquote>这一令人沮丧的统计数据来自刚刚发布的2021年版瑞士信贷全球投资回报年鉴。作者——剑桥大学金融学教授埃尔罗伊·迪姆森(Elroy Dimson)、伦敦商学院金融学教授保罗·马什(Paul Marsh)和该机构伦敦股价数据库主任迈克·斯汤顿(Mike Staunton)——测量了美国历史上（自1900年以来）美国政府债券产生通胀调整后损失的最长时期。</blockquote></p><p> The future might not be like the past, of course. But with current interest rates so low, it seems likely that, in the event the future isn’t like the past, it will be worse for bonds—not better.</p><p><blockquote>当然，未来可能不会像过去那样。但由于目前的利率如此之低，如果未来与过去不同，债券的情况可能会更糟，而不是更好。</blockquote></p><p> The 57-year period in which U.S. government bonds lost ground to inflation began in 1924, when the 10-year Treasury yield stood at 3.93% and inflation over the trailing 12 months was negative 0.58% (according to data provided by Yale University professor Robert Shiller). That meant that there was deflation at the time, not inflation. The real (inflation-adjusted) 10-year yield at the time was therefore 4.51%.</p><p><blockquote>美国政府债券因通胀而失利的57年时期始于1924年，当时10年期国债收益率为3.93%，过去12个月的通胀率为负0.58%（根据耶鲁大学教授罗伯特·席勒提供的数据）。这意味着当时存在通货紧缩，而不是通货膨胀。因此，当时实际（经通胀调整）10年期国债收益率为4.51%。</blockquote></p><p> In contrast, the 10-year yield&nbsp;stood at 1.53% on March 11 and inflation over the trailing 12 months is 1.68%. So the comparable real yield in this case is negative 0.15%. That low rate translates to significant headwinds in the face of bonds purchased today producing a positive real rate of return in coming years.</p><p><blockquote>相比之下，3月11日10年期国债收益率为1.53%，过去12个月的通胀率为1.68%。因此，在这种情况下，可比实际收益率为负0.15%。面对今天购买的债券，这种低利率意味着在未来几年产生正的实际回报率，将面临巨大的阻力。</blockquote></p><p> The Credit Suisse Yearbook forces us to reconsider the standard narrative that stocks are less risky than bonds. Instead of 57 years, the comparable “long term” for U.S. stocks is 16 years. (See chart, below.) That’s the longest period since 1900 in which U.S. equities produced a negative real return. From the point of view of the long-term investor, stocks therefore appear to be far less risky.</p><p><blockquote>《瑞士信贷年鉴》迫使我们重新考虑股票风险低于债券的标准说法。美股可比的“长期”不是57年，而是16年。（见下图。）这是自1900年以来美国股市实际回报率为负的最长时期。因此，从长期投资者的角度来看，股票的风险似乎要小得多。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e3a63641318cf3034c54f3253db53e8d\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> There is one sense in which government bonds are less risky than stocks. Assuming the federal government doesn’t default, then U.S. government bonds are undoubtedly safer than stocks. But, as the Credit Suisse Yearbook’s authors point out, “there is a price to be paid” for that safety. “In terms of inflation-adjusted returns, there is a high chance of disappointment.”</p><p><blockquote>从某种意义上说，政府债券的风险低于股票。假设联邦政府不违约，那么美国国债无疑比股票更安全。但是，正如《瑞士信贷年鉴》的作者指出的那样，这种安全“是要付出代价的”。“就通胀调整后的回报而言，很有可能会令人失望。”</blockquote></p><p> At a minimum, the Yearbook encourages us to focus on risk from many different angles. An asset that appears to be conservative when considering the possibility of default may be quite risky from the perspective of how long it may lag inflation.</p><p><blockquote>至少，《年鉴》鼓励我们从许多不同的角度关注风险。一项在考虑违约可能性时显得保守的资产，从其可能滞后通胀多长时间的角度来看，可能风险相当大。</blockquote></p><p> <b>Expand focus outside of the U.S.</b></p><p><blockquote><b>将关注点扩展到美国以外。</b></blockquote></p><p> When focusing on the U.S. from this perspective of lagging inflation over the long term, it certainly appears as though stocks are less risky than bonds. When we expand our focus to non-U.S. stock markets, this conclusion is premature.</p><p><blockquote>当从长期滞后通胀的角度关注美国时，股票的风险似乎确实低于债券。当我们将关注点扩大到非美股市场时，这个结论还为时过早。</blockquote></p><p> Consider Japan, for example. According to the Credit Suisse Yearbook, the longest stretch of time in which that country’s equities lost ground to inflation is 51 years. That’s the same order of magnitude as for U.S. Treasury bonds.</p><p><blockquote>以日本为例。根据瑞士信贷年鉴，该国股市因通胀而下跌的最长时间是51年。这与美国国债的数量级相同。</blockquote></p><p> This underlines the importance of focusing on as many different markets as possible, over as many years as possible. Most of what is taken to be conventional wisdom in the financial-planning world derives from a database covering just U.S. stocks and bonds back to 1926. Since the U.S. equity and fixed income markets are the world’s largest, focusing on them is “susceptible to success bias,” as the Yearbook’s authors put it.</p><p><blockquote>这强调了在尽可能多的时间内关注尽可能多的不同市场的重要性。财务规划界的大部分传统智慧都来自一个仅涵盖1926年以来美国股票和债券的数据库。正如年鉴作者所说，由于美国股票和固定收益市场是世界上最大的，关注它们“容易受到成功偏见的影响”。</blockquote></p><p> Unless we are willing to bet that the U.S. markets over the next century will outperform the rest of the world by as much as they have since the 1920s, we should be basing our forecasts on the performance of global markets for as many years for which data are available.</p><p><blockquote>除非我们愿意打赌美国市场在下个世纪的表现将像自20世纪20年代以来一样优于世界其他地区，否则我们的预测应该基于全球市场多年来的表现。有数据可用。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why inflation makes holding bonds for the long run riskier than owning stocks<blockquote>为什么通货膨胀使长期持有债券比持有股票风险更大</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy inflation makes holding bonds for the long run riskier than owning stocks<blockquote>为什么通货膨胀使长期持有债券比持有股票风险更大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-15 13:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>You’d have to hold U.S. Treasury bonds for 57 years to not lose to inflation</p><p><blockquote>你必须持有美国国债57年才能不输给通货膨胀</blockquote></p><p> How long is the long term in the bond market? Would you believe 57 years? That’s how long you must be prepared to own U.S. government bonds if you want to be assured of not losing to inflation.</p><p><blockquote>债券市场的长期有多长？你相信57年吗？如果你想确保不输给通货膨胀，你必须准备持有美国政府债券的时间。</blockquote></p><p> This depressing statistic comes from the just-released 2021 edition of Credit Suisse’s&nbsp;Global Investment Returns Yearbook. The authors — Elroy Dimson, a finance professor at Cambridge University, Paul Marsh, a finance professor at the London Business School and Mike Staunton, director of that institution’s London Share Price Database — measured the longest period in U.S. history (since 1900) over which U.S. government bonds produced an inflation-adjusted loss.</p><p><blockquote>这一令人沮丧的统计数据来自刚刚发布的2021年版瑞士信贷全球投资回报年鉴。作者——剑桥大学金融学教授埃尔罗伊·迪姆森(Elroy Dimson)、伦敦商学院金融学教授保罗·马什(Paul Marsh)和该机构伦敦股价数据库主任迈克·斯汤顿(Mike Staunton)——测量了美国历史上（自1900年以来）美国政府债券产生通胀调整后损失的最长时期。</blockquote></p><p> The future might not be like the past, of course. But with current interest rates so low, it seems likely that, in the event the future isn’t like the past, it will be worse for bonds—not better.</p><p><blockquote>当然，未来可能不会像过去那样。但由于目前的利率如此之低，如果未来与过去不同，债券的情况可能会更糟，而不是更好。</blockquote></p><p> The 57-year period in which U.S. government bonds lost ground to inflation began in 1924, when the 10-year Treasury yield stood at 3.93% and inflation over the trailing 12 months was negative 0.58% (according to data provided by Yale University professor Robert Shiller). That meant that there was deflation at the time, not inflation. The real (inflation-adjusted) 10-year yield at the time was therefore 4.51%.</p><p><blockquote>美国政府债券因通胀而失利的57年时期始于1924年，当时10年期国债收益率为3.93%，过去12个月的通胀率为负0.58%（根据耶鲁大学教授罗伯特·席勒提供的数据）。这意味着当时存在通货紧缩，而不是通货膨胀。因此，当时实际（经通胀调整）10年期国债收益率为4.51%。</blockquote></p><p> In contrast, the 10-year yield&nbsp;stood at 1.53% on March 11 and inflation over the trailing 12 months is 1.68%. So the comparable real yield in this case is negative 0.15%. That low rate translates to significant headwinds in the face of bonds purchased today producing a positive real rate of return in coming years.</p><p><blockquote>相比之下，3月11日10年期国债收益率为1.53%，过去12个月的通胀率为1.68%。因此，在这种情况下，可比实际收益率为负0.15%。面对今天购买的债券，这种低利率意味着在未来几年产生正的实际回报率，将面临巨大的阻力。</blockquote></p><p> The Credit Suisse Yearbook forces us to reconsider the standard narrative that stocks are less risky than bonds. Instead of 57 years, the comparable “long term” for U.S. stocks is 16 years. (See chart, below.) That’s the longest period since 1900 in which U.S. equities produced a negative real return. From the point of view of the long-term investor, stocks therefore appear to be far less risky.</p><p><blockquote>《瑞士信贷年鉴》迫使我们重新考虑股票风险低于债券的标准说法。美股可比的“长期”不是57年，而是16年。（见下图。）这是自1900年以来美国股市实际回报率为负的最长时期。因此，从长期投资者的角度来看，股票的风险似乎要小得多。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e3a63641318cf3034c54f3253db53e8d\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> There is one sense in which government bonds are less risky than stocks. Assuming the federal government doesn’t default, then U.S. government bonds are undoubtedly safer than stocks. But, as the Credit Suisse Yearbook’s authors point out, “there is a price to be paid” for that safety. “In terms of inflation-adjusted returns, there is a high chance of disappointment.”</p><p><blockquote>从某种意义上说，政府债券的风险低于股票。假设联邦政府不违约，那么美国国债无疑比股票更安全。但是，正如《瑞士信贷年鉴》的作者指出的那样，这种安全“是要付出代价的”。“就通胀调整后的回报而言，很有可能会令人失望。”</blockquote></p><p> At a minimum, the Yearbook encourages us to focus on risk from many different angles. An asset that appears to be conservative when considering the possibility of default may be quite risky from the perspective of how long it may lag inflation.</p><p><blockquote>至少，《年鉴》鼓励我们从许多不同的角度关注风险。一项在考虑违约可能性时显得保守的资产，从其可能滞后通胀多长时间的角度来看，可能风险相当大。</blockquote></p><p> <b>Expand focus outside of the U.S.</b></p><p><blockquote><b>将关注点扩展到美国以外。</b></blockquote></p><p> When focusing on the U.S. from this perspective of lagging inflation over the long term, it certainly appears as though stocks are less risky than bonds. When we expand our focus to non-U.S. stock markets, this conclusion is premature.</p><p><blockquote>当从长期滞后通胀的角度关注美国时，股票的风险似乎确实低于债券。当我们将关注点扩大到非美股市场时，这个结论还为时过早。</blockquote></p><p> Consider Japan, for example. According to the Credit Suisse Yearbook, the longest stretch of time in which that country’s equities lost ground to inflation is 51 years. That’s the same order of magnitude as for U.S. Treasury bonds.</p><p><blockquote>以日本为例。根据瑞士信贷年鉴，该国股市因通胀而下跌的最长时间是51年。这与美国国债的数量级相同。</blockquote></p><p> This underlines the importance of focusing on as many different markets as possible, over as many years as possible. Most of what is taken to be conventional wisdom in the financial-planning world derives from a database covering just U.S. stocks and bonds back to 1926. Since the U.S. equity and fixed income markets are the world’s largest, focusing on them is “susceptible to success bias,” as the Yearbook’s authors put it.</p><p><blockquote>这强调了在尽可能多的时间内关注尽可能多的不同市场的重要性。财务规划界的大部分传统智慧都来自一个仅涵盖1926年以来美国股票和债券的数据库。正如年鉴作者所说，由于美国股票和固定收益市场是世界上最大的，关注它们“容易受到成功偏见的影响”。</blockquote></p><p> Unless we are willing to bet that the U.S. markets over the next century will outperform the rest of the world by as much as they have since the 1920s, we should be basing our forecasts on the performance of global markets for as many years for which data are available.</p><p><blockquote>除非我们愿意打赌美国市场在下个世纪的表现将像自20世纪20年代以来一样优于世界其他地区，否则我们的预测应该基于全球市场多年来的表现。有数据可用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/why-inflation-makes-holding-bonds-for-the-long-run-riskier-than-owning-stocks-11615586194?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/why-inflation-makes-holding-bonds-for-the-long-run-riskier-than-owning-stocks-11615586194?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1100888274","content_text":"You’d have to hold U.S. Treasury bonds for 57 years to not lose to inflation\nHow long is the long term in the bond market? Would you believe 57 years? That’s how long you must be prepared to own U.S. government bonds if you want to be assured of not losing to inflation.\nThis depressing statistic comes from the just-released 2021 edition of Credit Suisse’s Global Investment Returns Yearbook. The authors — Elroy Dimson, a finance professor at Cambridge University, Paul Marsh, a finance professor at the London Business School and Mike Staunton, director of that institution’s London Share Price Database — measured the longest period in U.S. history (since 1900) over which U.S. government bonds produced an inflation-adjusted loss.\nThe future might not be like the past, of course. But with current interest rates so low, it seems likely that, in the event the future isn’t like the past, it will be worse for bonds—not better.\nThe 57-year period in which U.S. government bonds lost ground to inflation began in 1924, when the 10-year Treasury yield stood at 3.93% and inflation over the trailing 12 months was negative 0.58% (according to data provided by Yale University professor Robert Shiller). That meant that there was deflation at the time, not inflation. The real (inflation-adjusted) 10-year yield at the time was therefore 4.51%.\nIn contrast, the 10-year yield stood at 1.53% on March 11 and inflation over the trailing 12 months is 1.68%. So the comparable real yield in this case is negative 0.15%. That low rate translates to significant headwinds in the face of bonds purchased today producing a positive real rate of return in coming years.\nThe Credit Suisse Yearbook forces us to reconsider the standard narrative that stocks are less risky than bonds. Instead of 57 years, the comparable “long term” for U.S. stocks is 16 years. (See chart, below.) That’s the longest period since 1900 in which U.S. equities produced a negative real return. From the point of view of the long-term investor, stocks therefore appear to be far less risky.\n\nThere is one sense in which government bonds are less risky than stocks. Assuming the federal government doesn’t default, then U.S. government bonds are undoubtedly safer than stocks. But, as the Credit Suisse Yearbook’s authors point out, “there is a price to be paid” for that safety. “In terms of inflation-adjusted returns, there is a high chance of disappointment.”\nAt a minimum, the Yearbook encourages us to focus on risk from many different angles. An asset that appears to be conservative when considering the possibility of default may be quite risky from the perspective of how long it may lag inflation.\nExpand focus outside of the U.S.\nWhen focusing on the U.S. from this perspective of lagging inflation over the long term, it certainly appears as though stocks are less risky than bonds. When we expand our focus to non-U.S. stock markets, this conclusion is premature.\nConsider Japan, for example. According to the Credit Suisse Yearbook, the longest stretch of time in which that country’s equities lost ground to inflation is 51 years. That’s the same order of magnitude as for U.S. Treasury bonds.\nThis underlines the importance of focusing on as many different markets as possible, over as many years as possible. Most of what is taken to be conventional wisdom in the financial-planning world derives from a database covering just U.S. stocks and bonds back to 1926. Since the U.S. equity and fixed income markets are the world’s largest, focusing on them is “susceptible to success bias,” as the Yearbook’s authors put it.\nUnless we are willing to bet that the U.S. markets over the next century will outperform the rest of the world by as much as they have since the 1920s, we should be basing our forecasts on the performance of global markets for as many years for which data are available.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"ZNmain":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363407928,"gmtCreate":1614160860364,"gmtModify":1634550942964,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363407928","repostId":"1106446066","repostType":4,"repost":{"id":"1106446066","kind":"news","pubTimestamp":1614133758,"share":"https://www.laohu8.com/m/news/1106446066?lang=zh_CN&edition=full","pubTime":"2021-02-24 10:29","market":"us","language":"en","title":"4 reasons Tesla's stock is tumbling<blockquote>特斯拉股价暴跌的4个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106446066","media":"CNN Business","summary":"New York (CNN Business) - Tesla, the hottest stock in the market for more than a year, has sunk into","content":"<p><b>New York (CNN Business)&nbsp;-&nbsp;</b>Tesla, the&nbsp;hottest stock&nbsp;in the market for more than a year, has sunk into bear market territory.</p><p><blockquote><b>纽约（CNN商业）——</b>特斯拉，一年多来市场上最热门的股票，已经陷入熊市领域。</blockquote></p><p> Shares of&nbsp;Tesla&nbsp;fell 6% Tuesday after closing down 8.5% Monday, wiping out its gains for the year. The stock closed at a record just above $883 on January 26 and has tumbled since. It fell low as $619 Tuesday, the first time Tesla shares have fallen below $700 since December 31.</p><p><blockquote>特斯拉股价继周一收盘下跌8.5%后，周二下跌6%，抹去了今年的涨幅。该股1月26日收于略高于883美元的创纪录水平，此后一直在暴跌。周二跌至619美元，这是特斯拉股价自12月31日以来首次跌破700美元。</blockquote></p><p> The steep decline has taken Tesla shares below their level when the company&nbsp;entered the S&amp;P 500&nbsp;on December 21. It also knocked CEO Elon Musk into the No. 2 position in the&nbsp;richest person on the planet&nbsp;list, behind&nbsp;Amazon&nbsp;founder Jeff Bezos. The two have been&nbsp;swapping positions&nbsp;repeatedly this year.</p><p><blockquote>大幅下跌已使特斯拉股价跌破该公司12月21日进入标普500时的水平。它还将亚马逊首席执行官Elon Musk挤进了全球富豪榜的第二位，仅次于亚马逊创始人杰夫·贝索斯。两人今年多次互换位置。</blockquote></p><p> Tesla's stock is selling off for several reasons:</p><p><blockquote>特斯拉的股票遭到抛售有几个原因：</blockquote></p><p> <b>Bitcoin</b></p><p><blockquote><b>比特币</b></blockquote></p><p> Tesla announced earlier this month that it had&nbsp;invested $1.5 billion in bitcoin. That helped feed the&nbsp;recent rally in bitcoin&nbsp;and by some estimates earned Tesla a quick $1 billion profit — more than it has ever made from selling cars in a single year.</p><p><blockquote>特斯拉本月早些时候宣布，已向比特币投资15亿美元。这帮助推动了比特币最近的反弹，据一些人估计，特斯拉很快就获得了10亿美元的利润——比它一年销售汽车的利润还要多。</blockquote></p><p> But on Saturday, in response to a critic of Tesla's bitcoin investment, Musk&nbsp;tweeted&nbsp;that the prices of both bitcoin and another cryptocurrency called Ether \"do seem high.\" That&nbsp;helped to send the price&nbsp;of&nbsp;bitcoin&nbsp;down 9.3% in trading Monday, which may have helped to drag down Tesla shares.</p><p><blockquote>但周六，在回应特斯拉比特币投资的批评者时，马斯克在推特上表示，比特币和另一种名为以太币的加密货币的价格“确实看起来很高”。这导致比特币股价在周一交易中下跌9.3%，这可能拖累了特斯拉股价。</blockquote></p><p> \"Bitcoin is the smart move at the right time for Tesla in our opinion, but on the downside its playing with firecrackers and risks and volatility are added to the Tesla story,\" said Daniel Ives, tech analyst for Wedbush Securities, who remains bullish on Tesla shares.</p><p><blockquote>Wedbush Securities科技分析师Daniel Ives表示：“我们认为，比特币对特斯拉来说是在正确的时间采取的明智之举，但不利的一面是，它玩弄鞭炮，风险和波动性增加了特斯拉的故事。”看好特斯拉股票。</blockquote></p><p> <b>Model Y pricing</b></p><p><blockquote><b>Model Y定价</b></blockquote></p><p> Last Thursday, Tesla cut the price of the cheapest version of its Model Y and its best-selling Model 3 cars by $2,000 each. That brought the price for the \"standard range\" Model Y, one that can travel 244 miles on a charge, to $38,490 -- and the standard range Model 3 to $34,590.</p><p><blockquote>上周四，特斯拉将其最便宜版本的Model Y和最畅销的Model 3汽车的价格各下调了2,000美元。这使得“标准续航里程”Model Y（一次充电可行驶244英里）的价格达到38,490美元，标准续航里程Model 3的价格达到34,590美元。</blockquote></p><p> But over the weekend, the cheapest \"standard range\" version of the Model Y disappeared from Tesla's sales site, leaving only the more expensive long-range and performance versions of the SUV. Tesla did not explain its decision.</p><p><blockquote>但在周末，最便宜的“标准续航”版本的Model Y从特斯拉的销售网站上消失了，只剩下更昂贵的长续航和高性能版本的SUV。特斯拉没有解释其决定。</blockquote></p><p> \"We see the plausible reasons as either: the mix was skewed too much to the cheaper variant, and thus it was going to kill their margins, or more likely there just wasn't much demand for the lower variant,\" said Gordon Johnson of GLJ Research, one of the more bearish critics on Tesla shares. He said the recent price cuts and other price cuts show that Tesla vehicles do not have the demand that its fans claim.</p><p><blockquote>Gordon Johnson表示：“我们认为可能的原因要么是：产品组合过于偏向较便宜的型号，因此会扼杀他们的利润率，要么更有可能的是，对较低型号的需求并不大。”GLJ Research是对特斯拉股票较为悲观的批评者之一。他表示，最近的降价和其他降价表明，特斯拉汽车并没有其粉丝所宣称的需求。</blockquote></p><p> \"Tesla can't keep its current factories running at capacity without ... price cuts,\" said Johnson in note on Monday.</p><p><blockquote>Johnson周一在一份报告中表示：“如果不降价，特斯拉就无法让现有工厂保持满负荷运转。”</blockquote></p><p> <b>Increased competition</b></p><p><blockquote><b>竞争加剧</b></blockquote></p><p> Established automakers have recently set ambitious targets for their own EV sales.</p><p><blockquote>老牌汽车制造商最近为自己的电动汽车销售设定了雄心勃勃的目标。</blockquote></p><p> General Motors&nbsp;rolled out an SUV version of its&nbsp;Chevrolet Bolt&nbsp;a week ago, priced well below the Model Y, and announced it intends to sell only&nbsp;emissions-free cars&nbsp;after 2035.Ford&nbsp;set an even more&nbsp;ambitious EV target for its European sales, saying all of the car models it sells there will be EVs by 2030.</p><p><blockquote>通用汽车一周前推出了雪佛兰Bolt的SUV版本，价格远低于Model Y，并宣布打算在2035年之后只销售零排放汽车。福特为其欧洲销售设定了更加雄心勃勃的电动汽车目标，称到2030年，其在欧洲销售的所有车型都将是电动汽车。</blockquote></p><p> Apple&nbsp;is also considering partnering with an automaker toget into the car business, according to several news reports.</p><p><blockquote>据多家新闻报道，苹果还在考虑与一家汽车制造商合作进入汽车业务。</blockquote></p><p> Those efforts are making some Tesla investors nervous, said Ives, although he believes there will be enough of a shift to EVs for multiple winners among global automakers.</p><p><blockquote>Ives表示，这些努力让一些特斯拉投资者感到紧张，尽管他相信全球汽车制造商中的多个赢家将足以转向电动汽车。</blockquote></p><p> <b>Investors got ahead of themselves</b></p><p><blockquote><b>投资者超前了</b></blockquote></p><p> Tesla shares peaked one day before a disappointing earnings report on January 27 that fell&nbsp;short of forecasts from Wall Street analysts.</p><p><blockquote>特斯拉股价在1月27日令人失望的财报未达华尔街分析师预期的前一天见顶。</blockquote></p><p> The earnings showed that the money Tesla made from the&nbsp;sale of regulatory credits&nbsp;to other automakers outpaced its overall net income. Critics, like Johnson, said it's proof Tesla isn't able to make money building and selling cars (although by some other profit measures Tesla is profitable).</p><p><blockquote>财报显示，特斯拉向其他汽车制造商出售监管信贷所赚的钱超过了其整体净利润。像Johnson这样的批评者说，这证明特斯拉无法通过制造和销售汽车赚钱（尽管从其他一些利润指标来看，特斯拉是盈利的）。</blockquote></p><p> During the earnings conference call on January 27, Musk also spoke about a shortage of batteries needed to power electric vehicles. He said that even with Tesla's own in-house supply of batteries and its planned expansion of battery production, the company is scrambling to find the batteries it wants to build more vehicles.</p><p><blockquote>在1月27日的财报电话会议上，马斯克还谈到了电动汽车所需电池的短缺问题。他表示，即使特斯拉自己内部供应电池，并计划扩大电池生产，该公司仍在争先恐后地寻找制造更多车辆所需的电池。</blockquote></p><p> \"The fundamental limit on electric vehicles right now, in general, is total availability of [battery] cells,\" he said. For example, Musk said Tesla would have already started producing a semi-tractor if it had the batteries available to do so.</p><p><blockquote>“总的来说，目前电动汽车的基本限制是[电池]的总可用性，”他说。例如，马斯克表示，如果特斯拉有足够的电池，它早就开始生产半挂车了。</blockquote></p><p> <b>Shares are still way up</b></p><p><blockquote><b>股价仍在上涨</b></blockquote></p><p> Tesla shares rose a market-leading 743% in 2020, as investors embraced the idea that the future of the auto industry would be electric. Tesla remains by far the most valuable automaker in the world, with a market value well above that of the eight largest automakers combined.</p><p><blockquote>由于投资者接受了汽车行业的未来将是电动的这一观点，特斯拉股价在2020年上涨了743%，领跑市场。特斯拉仍然是迄今为止世界上最有价值的汽车制造商，其市值远高于八大汽车制造商的总和。</blockquote></p><p></p><p> Even with the recent decline. Tesla shares are up about 1,300% since October 2019, when it reported a third-quarter&nbsp;profit that surprised investors, sending shares on a tear.</p><p><blockquote>即使最近有所下降。自2019年10月以来，特斯拉股价已上涨约1,300%，当时该公司公布的第三季度利润令投资者感到意外，导致股价大幅上涨。</blockquote></p><p> Some investors believe Tesla's stock flew too high. Yet many analysts believe Tesla will bounce back. Ives has a 12-month target price of $950.</p><p><blockquote>一些投资者认为特斯拉的股价飞得太高了。然而，许多分析师认为特斯拉将会反弹。Ives的12个月目标价为950美元。</blockquote></p><p> Even so, he has a warning: \"It's 'buckle up the seat belt time' again for Tesla's stock with more volatility on the horizon,\" Ives said.</p><p><blockquote>即便如此，他也有一个警告：“特斯拉的股票又到了‘系好安全带的时候了’，因为即将出现更多波动，”Ives说。</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>4 reasons Tesla's stock is tumbling<blockquote>特斯拉股价暴跌的4个原因</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\">\n4 reasons Tesla's stock is tumbling<blockquote>特斯拉股价暴跌的4个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-02-24 10:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)&nbsp;-&nbsp;</b>Tesla, the&nbsp;hottest stock&nbsp;in the market for more than a year, has sunk into bear market territory.</p><p><blockquote><b>纽约（CNN商业）——</b>特斯拉，一年多来市场上最热门的股票，已经陷入熊市领域。</blockquote></p><p> Shares of&nbsp;Tesla&nbsp;fell 6% Tuesday after closing down 8.5% Monday, wiping out its gains for the year. The stock closed at a record just above $883 on January 26 and has tumbled since. It fell low as $619 Tuesday, the first time Tesla shares have fallen below $700 since December 31.</p><p><blockquote>特斯拉股价继周一收盘下跌8.5%后，周二下跌6%，抹去了今年的涨幅。该股1月26日收于略高于883美元的创纪录水平，此后一直在暴跌。周二跌至619美元，这是特斯拉股价自12月31日以来首次跌破700美元。</blockquote></p><p> The steep decline has taken Tesla shares below their level when the company&nbsp;entered the S&amp;P 500&nbsp;on December 21. It also knocked CEO Elon Musk into the No. 2 position in the&nbsp;richest person on the planet&nbsp;list, behind&nbsp;Amazon&nbsp;founder Jeff Bezos. The two have been&nbsp;swapping positions&nbsp;repeatedly this year.</p><p><blockquote>大幅下跌已使特斯拉股价跌破该公司12月21日进入标普500时的水平。它还将亚马逊首席执行官Elon Musk挤进了全球富豪榜的第二位，仅次于亚马逊创始人杰夫·贝索斯。两人今年多次互换位置。</blockquote></p><p> Tesla's stock is selling off for several reasons:</p><p><blockquote>特斯拉的股票遭到抛售有几个原因：</blockquote></p><p> <b>Bitcoin</b></p><p><blockquote><b>比特币</b></blockquote></p><p> Tesla announced earlier this month that it had&nbsp;invested $1.5 billion in bitcoin. That helped feed the&nbsp;recent rally in bitcoin&nbsp;and by some estimates earned Tesla a quick $1 billion profit — more than it has ever made from selling cars in a single year.</p><p><blockquote>特斯拉本月早些时候宣布，已向比特币投资15亿美元。这帮助推动了比特币最近的反弹，据一些人估计，特斯拉很快就获得了10亿美元的利润——比它一年销售汽车的利润还要多。</blockquote></p><p> But on Saturday, in response to a critic of Tesla's bitcoin investment, Musk&nbsp;tweeted&nbsp;that the prices of both bitcoin and another cryptocurrency called Ether \"do seem high.\" That&nbsp;helped to send the price&nbsp;of&nbsp;bitcoin&nbsp;down 9.3% in trading Monday, which may have helped to drag down Tesla shares.</p><p><blockquote>但周六，在回应特斯拉比特币投资的批评者时，马斯克在推特上表示，比特币和另一种名为以太币的加密货币的价格“确实看起来很高”。这导致比特币股价在周一交易中下跌9.3%，这可能拖累了特斯拉股价。</blockquote></p><p> \"Bitcoin is the smart move at the right time for Tesla in our opinion, but on the downside its playing with firecrackers and risks and volatility are added to the Tesla story,\" said Daniel Ives, tech analyst for Wedbush Securities, who remains bullish on Tesla shares.</p><p><blockquote>Wedbush Securities科技分析师Daniel Ives表示：“我们认为，比特币对特斯拉来说是在正确的时间采取的明智之举，但不利的一面是，它玩弄鞭炮，风险和波动性增加了特斯拉的故事。”看好特斯拉股票。</blockquote></p><p> <b>Model Y pricing</b></p><p><blockquote><b>Model Y定价</b></blockquote></p><p> Last Thursday, Tesla cut the price of the cheapest version of its Model Y and its best-selling Model 3 cars by $2,000 each. That brought the price for the \"standard range\" Model Y, one that can travel 244 miles on a charge, to $38,490 -- and the standard range Model 3 to $34,590.</p><p><blockquote>上周四，特斯拉将其最便宜版本的Model Y和最畅销的Model 3汽车的价格各下调了2,000美元。这使得“标准续航里程”Model Y（一次充电可行驶244英里）的价格达到38,490美元，标准续航里程Model 3的价格达到34,590美元。</blockquote></p><p> But over the weekend, the cheapest \"standard range\" version of the Model Y disappeared from Tesla's sales site, leaving only the more expensive long-range and performance versions of the SUV. Tesla did not explain its decision.</p><p><blockquote>但在周末，最便宜的“标准续航”版本的Model Y从特斯拉的销售网站上消失了，只剩下更昂贵的长续航和高性能版本的SUV。特斯拉没有解释其决定。</blockquote></p><p> \"We see the plausible reasons as either: the mix was skewed too much to the cheaper variant, and thus it was going to kill their margins, or more likely there just wasn't much demand for the lower variant,\" said Gordon Johnson of GLJ Research, one of the more bearish critics on Tesla shares. He said the recent price cuts and other price cuts show that Tesla vehicles do not have the demand that its fans claim.</p><p><blockquote>Gordon Johnson表示：“我们认为可能的原因要么是：产品组合过于偏向较便宜的型号，因此会扼杀他们的利润率，要么更有可能的是，对较低型号的需求并不大。”GLJ Research是对特斯拉股票较为悲观的批评者之一。他表示，最近的降价和其他降价表明，特斯拉汽车并没有其粉丝所宣称的需求。</blockquote></p><p> \"Tesla can't keep its current factories running at capacity without ... price cuts,\" said Johnson in note on Monday.</p><p><blockquote>Johnson周一在一份报告中表示：“如果不降价，特斯拉就无法让现有工厂保持满负荷运转。”</blockquote></p><p> <b>Increased competition</b></p><p><blockquote><b>竞争加剧</b></blockquote></p><p> Established automakers have recently set ambitious targets for their own EV sales.</p><p><blockquote>老牌汽车制造商最近为自己的电动汽车销售设定了雄心勃勃的目标。</blockquote></p><p> General Motors&nbsp;rolled out an SUV version of its&nbsp;Chevrolet Bolt&nbsp;a week ago, priced well below the Model Y, and announced it intends to sell only&nbsp;emissions-free cars&nbsp;after 2035.Ford&nbsp;set an even more&nbsp;ambitious EV target for its European sales, saying all of the car models it sells there will be EVs by 2030.</p><p><blockquote>通用汽车一周前推出了雪佛兰Bolt的SUV版本，价格远低于Model Y，并宣布打算在2035年之后只销售零排放汽车。福特为其欧洲销售设定了更加雄心勃勃的电动汽车目标，称到2030年，其在欧洲销售的所有车型都将是电动汽车。</blockquote></p><p> Apple&nbsp;is also considering partnering with an automaker toget into the car business, according to several news reports.</p><p><blockquote>据多家新闻报道，苹果还在考虑与一家汽车制造商合作进入汽车业务。</blockquote></p><p> Those efforts are making some Tesla investors nervous, said Ives, although he believes there will be enough of a shift to EVs for multiple winners among global automakers.</p><p><blockquote>Ives表示，这些努力让一些特斯拉投资者感到紧张，尽管他相信全球汽车制造商中的多个赢家将足以转向电动汽车。</blockquote></p><p> <b>Investors got ahead of themselves</b></p><p><blockquote><b>投资者超前了</b></blockquote></p><p> Tesla shares peaked one day before a disappointing earnings report on January 27 that fell&nbsp;short of forecasts from Wall Street analysts.</p><p><blockquote>特斯拉股价在1月27日令人失望的财报未达华尔街分析师预期的前一天见顶。</blockquote></p><p> The earnings showed that the money Tesla made from the&nbsp;sale of regulatory credits&nbsp;to other automakers outpaced its overall net income. Critics, like Johnson, said it's proof Tesla isn't able to make money building and selling cars (although by some other profit measures Tesla is profitable).</p><p><blockquote>财报显示，特斯拉向其他汽车制造商出售监管信贷所赚的钱超过了其整体净利润。像Johnson这样的批评者说，这证明特斯拉无法通过制造和销售汽车赚钱（尽管从其他一些利润指标来看，特斯拉是盈利的）。</blockquote></p><p> During the earnings conference call on January 27, Musk also spoke about a shortage of batteries needed to power electric vehicles. He said that even with Tesla's own in-house supply of batteries and its planned expansion of battery production, the company is scrambling to find the batteries it wants to build more vehicles.</p><p><blockquote>在1月27日的财报电话会议上，马斯克还谈到了电动汽车所需电池的短缺问题。他表示，即使特斯拉自己内部供应电池，并计划扩大电池生产，该公司仍在争先恐后地寻找制造更多车辆所需的电池。</blockquote></p><p> \"The fundamental limit on electric vehicles right now, in general, is total availability of [battery] cells,\" he said. For example, Musk said Tesla would have already started producing a semi-tractor if it had the batteries available to do so.</p><p><blockquote>“总的来说，目前电动汽车的基本限制是[电池]的总可用性，”他说。例如，马斯克表示，如果特斯拉有足够的电池，它早就开始生产半挂车了。</blockquote></p><p> <b>Shares are still way up</b></p><p><blockquote><b>股价仍在上涨</b></blockquote></p><p> Tesla shares rose a market-leading 743% in 2020, as investors embraced the idea that the future of the auto industry would be electric. Tesla remains by far the most valuable automaker in the world, with a market value well above that of the eight largest automakers combined.</p><p><blockquote>由于投资者接受了汽车行业的未来将是电动的这一观点，特斯拉股价在2020年上涨了743%，领跑市场。特斯拉仍然是迄今为止世界上最有价值的汽车制造商，其市值远高于八大汽车制造商的总和。</blockquote></p><p></p><p> Even with the recent decline. Tesla shares are up about 1,300% since October 2019, when it reported a third-quarter&nbsp;profit that surprised investors, sending shares on a tear.</p><p><blockquote>即使最近有所下降。自2019年10月以来，特斯拉股价已上涨约1,300%，当时该公司公布的第三季度利润令投资者感到意外，导致股价大幅上涨。</blockquote></p><p> Some investors believe Tesla's stock flew too high. Yet many analysts believe Tesla will bounce back. Ives has a 12-month target price of $950.</p><p><blockquote>一些投资者认为特斯拉的股价飞得太高了。然而，许多分析师认为特斯拉将会反弹。Ives的12个月目标价为950美元。</blockquote></p><p> Even so, he has a warning: \"It's 'buckle up the seat belt time' again for Tesla's stock with more volatility on the horizon,\" Ives said.</p><p><blockquote>即便如此，他也有一个警告：“特斯拉的股票又到了‘系好安全带的时候了’，因为即将出现更多波动，”Ives说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/02/23/investing/tesla-shares-bear-market/index.html\">CNN Business</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":{"TSLA":"特斯拉"},"source_url":"https://edition.cnn.com/2021/02/23/investing/tesla-shares-bear-market/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106446066","content_text":"New York (CNN Business) - Tesla, the hottest stock in the market for more than a year, has sunk into bear market territory.\nShares of Tesla fell 6% Tuesday after closing down 8.5% Monday, wiping out its gains for the year. The stock closed at a record just above $883 on January 26 and has tumbled since. It fell low as $619 Tuesday, the first time Tesla shares have fallen below $700 since December 31.\nThe steep decline has taken Tesla shares below their level when the company entered the S&P 500 on December 21. It also knocked CEO Elon Musk into the No. 2 position in the richest person on the planet list, behind Amazon founder Jeff Bezos. The two have been swapping positions repeatedly this year.\nTesla's stock is selling off for several reasons:\nBitcoin\nTesla announced earlier this month that it had invested $1.5 billion in bitcoin. That helped feed the recent rally in bitcoin and by some estimates earned Tesla a quick $1 billion profit — more than it has ever made from selling cars in a single year.\nBut on Saturday, in response to a critic of Tesla's bitcoin investment, Musk tweeted that the prices of both bitcoin and another cryptocurrency called Ether \"do seem high.\" That helped to send the price of bitcoin down 9.3% in trading Monday, which may have helped to drag down Tesla shares.\n\"Bitcoin is the smart move at the right time for Tesla in our opinion, but on the downside its playing with firecrackers and risks and volatility are added to the Tesla story,\" said Daniel Ives, tech analyst for Wedbush Securities, who remains bullish on Tesla shares.\nModel Y pricing\nLast Thursday, Tesla cut the price of the cheapest version of its Model Y and its best-selling Model 3 cars by $2,000 each. That brought the price for the \"standard range\" Model Y, one that can travel 244 miles on a charge, to $38,490 -- and the standard range Model 3 to $34,590.\nBut over the weekend, the cheapest \"standard range\" version of the Model Y disappeared from Tesla's sales site, leaving only the more expensive long-range and performance versions of the SUV. Tesla did not explain its decision.\n\"We see the plausible reasons as either: the mix was skewed too much to the cheaper variant, and thus it was going to kill their margins, or more likely there just wasn't much demand for the lower variant,\" said Gordon Johnson of GLJ Research, one of the more bearish critics on Tesla shares. He said the recent price cuts and other price cuts show that Tesla vehicles do not have the demand that its fans claim.\n\"Tesla can't keep its current factories running at capacity without ... price cuts,\" said Johnson in note on Monday.\nIncreased competition\nEstablished automakers have recently set ambitious targets for their own EV sales.\nGeneral Motors rolled out an SUV version of its Chevrolet Bolt a week ago, priced well below the Model Y, and announced it intends to sell only emissions-free cars after 2035.Ford set an even more ambitious EV target for its European sales, saying all of the car models it sells there will be EVs by 2030.\nApple is also considering partnering with an automaker toget into the car business, according to several news reports.\nThose efforts are making some Tesla investors nervous, said Ives, although he believes there will be enough of a shift to EVs for multiple winners among global automakers.\nInvestors got ahead of themselves\nTesla shares peaked one day before a disappointing earnings report on January 27 that fell short of forecasts from Wall Street analysts.\nThe earnings showed that the money Tesla made from the sale of regulatory credits to other automakers outpaced its overall net income. Critics, like Johnson, said it's proof Tesla isn't able to make money building and selling cars (although by some other profit measures Tesla is profitable).\nDuring the earnings conference call on January 27, Musk also spoke about a shortage of batteries needed to power electric vehicles. He said that even with Tesla's own in-house supply of batteries and its planned expansion of battery production, the company is scrambling to find the batteries it wants to build more vehicles.\n\"The fundamental limit on electric vehicles right now, in general, is total availability of [battery] cells,\" he said. For example, Musk said Tesla would have already started producing a semi-tractor if it had the batteries available to do so.\nShares are still way up\nTesla shares rose a market-leading 743% in 2020, as investors embraced the idea that the future of the auto industry would be electric. Tesla remains by far the most valuable automaker in the world, with a market value well above that of the eight largest automakers combined.\nEven with the recent decline. Tesla shares are up about 1,300% since October 2019, when it reported a third-quarter profit that surprised investors, sending shares on a tear.\nSome investors believe Tesla's stock flew too high. Yet many analysts believe Tesla will bounce back. Ives has a 12-month target price of $950.\nEven so, he has a warning: \"It's 'buckle up the seat belt time' again for Tesla's stock with more volatility on the horizon,\" Ives said.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":680,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":381435816,"gmtCreate":1612974079935,"gmtModify":1703767907183,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381435816","repostId":"1136063454","repostType":4,"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389433158,"gmtCreate":1612794263974,"gmtModify":1703765113391,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389433158","repostId":"1133468331","repostType":4,"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389439401,"gmtCreate":1612794234303,"gmtModify":1703765112365,"author":{"id":"3575522252515458","authorId":"3575522252515458","name":"TopGainerz","avatar":"https://static.tigerbbs.com/921c1dab7d7dca9ee43859f8ffc4aefc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575522252515458","authorIdStr":"3575522252515458"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389439401","repostId":"1163750848","repostType":4,"isVote":1,"tweetType":1,"viewCount":681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}