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2021-12-01

Ok

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2021-11-05

Ok

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2021-11-05

$Alibaba(BABA)$where earnings???

2021-11-04

Ok

Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商Allbirds首日交易股价飙升110%</blockquote>

2021-10-19

Ok

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2021-10-16

Ok

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2021-10-15

Ok

4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</blockquote>

2021-10-13

$SEA LTD(SE)$DIPS ARE OVER. LET’S FLYAGAIN

2021-10-07

Ok

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2021-10-06

Ok

This veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</blockquote>

2021-10-05

Ok

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2021-10-03

Ok

Stocks sink in whipsaw session, S&P 500 posts first monthly decline since January<blockquote>股市大幅下跌，标普500自一月份以来首次月度下跌</blockquote>

2021-10-01

$Palantir Technologies Inc.(PLTR)$START AGAIN

2021-10-01

Ok

抱歉，原内容已删除

2021-09-28

Ok

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2021-09-26

$Alibaba(BABA)$DONT PAPER HANDS. BTFD

2021-09-22

Ok

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2021-09-20

Ok

Asia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港跌至11个月低点</blockquote>

2021-09-17

Ok

Amazon Is Doing It. So Is Walmart. Why Retail Loves ‘Buy Now, Pay Later.’<blockquote>亚马逊正在做。沃尔玛也是。为什么零售业喜欢“先买后付”。</blockquote>

2021-09-16

$Alibaba(BABA)$BOUGHT THE DIP

去老虎APP查看更多动态

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href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>where earnings???","listText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>where earnings???","text":"$Alibaba(BABA)$where earnings???","images":[{"img":"https://static.tigerbbs.com/3ca0abd4c699640a29712f8894f04d8c","width":"750","height":"1174"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/846265669","isVote":1,"tweetType":1,"viewCount":2713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":848812453,"gmtCreate":1635988627607,"gmtModify":1635988628133,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848812453","repostId":"1145835908","repostType":4,"repost":{"id":"1145835908","kind":"news","pubTimestamp":1635960317,"share":"https://www.laohu8.com/m/news/1145835908?lang=zh_CN&edition=full","pubTime":"2021-11-04 01:25","market":"us","language":"en","title":"Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商Allbirds首日交易股价飙升110%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1145835908","media":"Barrons","summary":"Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.\n\nAllbirds, the sustaina","content":"<p>Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.</p><p><blockquote>环保运动鞋制造商Allbirds首日交易股价飙升110%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e8cf1dc39281c0616417e6baa42058c2\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Allbirds, the sustainable shoe company, raised nearly $303 million after increasing the size of its IPO that also priced above its expected price range.</p><p><blockquote>可持续鞋业公司Allbirds在扩大IPO规模后筹集了近3.03亿美元，IPO定价也高于预期价格范围。</blockquote></p><p> Allbirds said late Tuesday that it sold about 20.2 million shares at $15 each, up from the 19.2 million shares at $12 to $14 each it had planned to offer. At $15 a share, the startup’s valuation is roughly $2.15 billion. It will trade Wednesday on the Nasdaq under the ticker BIRD.</p><p><blockquote>Allbirds周二晚间表示，它以每股15美元的价格出售了约2020万股，高于其计划以每股12至14美元的价格出售的1920万股。按每股15美元计算，这家初创公司的估值约为21.5亿美元。它将于周三在纳斯达克交易，股票代码为BIRD。</blockquote></p><p> Seventeen investment banks are working on the Allbirds IPO. Morgan Stanley, JP Morgan, and BofA Securities are lead underwriters on the deal, a prospectus said.</p><p><blockquote>十七家投资银行正在参与Allbirds的IPO。招股说明书称，摩根士丹利、摩根大通和美国银行证券是该交易的主承销商。</blockquote></p><p> Allbirds is one of several highly anticipated IPOs that have or will launch in the fourth quarter.GlobalFoundries&nbsp;(ticker: GFS), a chipmaker, went public last week. GlobalFoundries shares dropped 1.3% from its $47 IPO price during its debut, giving the company a $24.8 billion market capitalization. Rivian, the all-electric truck maker that’s backed by&nbsp;Amazon.com,will trade on Nov. 10. Rivian is seeking a $60 billion valuation. Nubank, the Brazilian digital lender backed by&nbsp;Berkshire Hathaway,has also filed to go public and is targeting a $50.6 billion valuation.</p><p><blockquote>Allbirds是已经或将在第四季度推出的几家备受期待的IPO之一。芯片制造商GlobalFoundries（股票代码：GFS）上周上市。GlobalFoundries股价较首次亮相时47美元的IPO价格下跌1.3%，使该公司市值达到248亿美元。由Amazon.com支持的全电动卡车制造商Rivian将于11月10日上市。Rivian寻求600亿美元的估值。伯克希尔哈撒韦公司支持的巴西数字贷款机构Nubank也已申请上市，目标估值为506亿美元。</blockquote></p><p> Founded in 2015, Allbirds uses renewable, natural materials to make its footwear. The company’s wool runner sneakers, which it calls the most comfortable shoe in the world, are made with sustainably sourced merino wool. The company’s SweetFoam sole technology, which is found in all of its shoes, uses carbon-negative green ethylene-vinyl acetate. The wool runners sneakers sell for $98 on the Allbirds website while the wool dweller slippers cost $65.</p><p><blockquote>Allbirds成立于2015年，使用可再生的天然材料制作鞋类。该公司的羊毛跑鞋是评级世界上最舒适的鞋子，由可持续来源的美利奴羊毛制成。该公司的SweetFoam鞋底技术存在于其所有鞋子中，使用负碳绿色乙烯-醋酸乙烯酯。羊毛跑步者运动鞋在Allbirds网站上的售价为98美元，而羊毛居民拖鞋的售价为65美元。</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>Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商Allbirds首日交易股价飙升110%</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\">\nEco-friendly sneaker maker Allbirds spikes 110% on its first day of trading<blockquote>环保运动鞋制造商Allbirds首日交易股价飙升110%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-04 01:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.</p><p><blockquote>环保运动鞋制造商Allbirds首日交易股价飙升110%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e8cf1dc39281c0616417e6baa42058c2\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Allbirds, the sustainable shoe company, raised nearly $303 million after increasing the size of its IPO that also priced above its expected price range.</p><p><blockquote>可持续鞋业公司Allbirds在扩大IPO规模后筹集了近3.03亿美元，IPO定价也高于预期价格范围。</blockquote></p><p> Allbirds said late Tuesday that it sold about 20.2 million shares at $15 each, up from the 19.2 million shares at $12 to $14 each it had planned to offer. At $15 a share, the startup’s valuation is roughly $2.15 billion. It will trade Wednesday on the Nasdaq under the ticker BIRD.</p><p><blockquote>Allbirds周二晚间表示，它以每股15美元的价格出售了约2020万股，高于其计划以每股12至14美元的价格出售的1920万股。按每股15美元计算，这家初创公司的估值约为21.5亿美元。它将于周三在纳斯达克交易，股票代码为BIRD。</blockquote></p><p> Seventeen investment banks are working on the Allbirds IPO. Morgan Stanley, JP Morgan, and BofA Securities are lead underwriters on the deal, a prospectus said.</p><p><blockquote>十七家投资银行正在参与Allbirds的IPO。招股说明书称，摩根士丹利、摩根大通和美国银行证券是该交易的主承销商。</blockquote></p><p> Allbirds is one of several highly anticipated IPOs that have or will launch in the fourth quarter.GlobalFoundries&nbsp;(ticker: GFS), a chipmaker, went public last week. GlobalFoundries shares dropped 1.3% from its $47 IPO price during its debut, giving the company a $24.8 billion market capitalization. Rivian, the all-electric truck maker that’s backed by&nbsp;Amazon.com,will trade on Nov. 10. Rivian is seeking a $60 billion valuation. Nubank, the Brazilian digital lender backed by&nbsp;Berkshire Hathaway,has also filed to go public and is targeting a $50.6 billion valuation.</p><p><blockquote>Allbirds是已经或将在第四季度推出的几家备受期待的IPO之一。芯片制造商GlobalFoundries（股票代码：GFS）上周上市。GlobalFoundries股价较首次亮相时47美元的IPO价格下跌1.3%，使该公司市值达到248亿美元。由Amazon.com支持的全电动卡车制造商Rivian将于11月10日上市。Rivian寻求600亿美元的估值。伯克希尔哈撒韦公司支持的巴西数字贷款机构Nubank也已申请上市，目标估值为506亿美元。</blockquote></p><p> Founded in 2015, Allbirds uses renewable, natural materials to make its footwear. The company’s wool runner sneakers, which it calls the most comfortable shoe in the world, are made with sustainably sourced merino wool. The company’s SweetFoam sole technology, which is found in all of its shoes, uses carbon-negative green ethylene-vinyl acetate. The wool runners sneakers sell for $98 on the Allbirds website while the wool dweller slippers cost $65.</p><p><blockquote>Allbirds成立于2015年，使用可再生的天然材料制作鞋类。该公司的羊毛跑鞋是评级世界上最舒适的鞋子，由可持续来源的美利奴羊毛制成。该公司的SweetFoam鞋底技术存在于其所有鞋子中，使用负碳绿色乙烯-醋酸乙烯酯。羊毛跑步者运动鞋在Allbirds网站上的售价为98美元，而羊毛居民拖鞋的售价为65美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/allbirds-ipo-stock-ticker-bird-valuation-51635904794?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BIRD":"Allbirds, Inc."},"source_url":"https://www.barrons.com/articles/allbirds-ipo-stock-ticker-bird-valuation-51635904794?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145835908","content_text":"Eco-friendly sneaker maker Allbirds spikes 110% on its first day of trading.\n\nAllbirds, the sustainable shoe company, raised nearly $303 million after increasing the size of its IPO that also priced above its expected price range.\nAllbirds said late Tuesday that it sold about 20.2 million shares at $15 each, up from the 19.2 million shares at $12 to $14 each it had planned to offer. At $15 a share, the startup’s valuation is roughly $2.15 billion. It will trade Wednesday on the Nasdaq under the ticker BIRD.\nSeventeen investment banks are working on the Allbirds IPO. Morgan Stanley, JP Morgan, and BofA Securities are lead underwriters on the deal, a prospectus said.\nAllbirds is one of several highly anticipated IPOs that have or will launch in the fourth quarter.GlobalFoundries (ticker: GFS), a chipmaker, went public last week. GlobalFoundries shares dropped 1.3% from its $47 IPO price during its debut, giving the company a $24.8 billion market capitalization. Rivian, the all-electric truck maker that’s backed by Amazon.com,will trade on Nov. 10. Rivian is seeking a $60 billion valuation. Nubank, the Brazilian digital lender backed by Berkshire Hathaway,has also filed to go public and is targeting a $50.6 billion valuation.\nFounded in 2015, Allbirds uses renewable, natural materials to make its footwear. The company’s wool runner sneakers, which it calls the most comfortable shoe in the world, are made with sustainably sourced merino wool. The company’s SweetFoam sole technology, which is found in all of its shoes, uses carbon-negative green ethylene-vinyl acetate. The wool runners sneakers sell for $98 on the Allbirds website while the wool dweller slippers cost $65.","news_type":1,"symbols_score_info":{"BIRD":0.9}},"isVote":1,"tweetType":1,"viewCount":4001,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":850426228,"gmtCreate":1634619084944,"gmtModify":1634619085455,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"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/850426228","repostId":"2176120817","repostType":4,"isVote":1,"tweetType":1,"viewCount":2213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":827001887,"gmtCreate":1634362157765,"gmtModify":1634362158281,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/827001887","repostId":"2175146556","repostType":4,"isVote":1,"tweetType":1,"viewCount":3804,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825481808,"gmtCreate":1634254954793,"gmtModify":1634274402882,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"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/825481808","repostId":"1184483169","repostType":4,"repost":{"id":"1184483169","kind":"news","pubTimestamp":1634205641,"share":"https://www.laohu8.com/m/news/1184483169?lang=zh_CN&edition=full","pubTime":"2021-10-14 18:00","market":"us","language":"en","title":"4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184483169","media":"Motley Fool","summary":"Crashes and corrections are the perfect opportunity to buy great companies at a discount.","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Double-digit percentage declines in the broader market are more common than investors realize.</li>  <li>There are no shortage of catalysts that could cause a stock market crash or correction.</li>  <li>Buying this quartet of unstoppable companies during a broad-market decline would be a wise move.</li> </ul> </p><p><blockquote><ul><li>大盘两位数的百分比下跌比投资者意识到的更常见。</li><li>不乏可能导致股市崩盘或调整的催化剂。</li><li>在大盘下跌期间收购这四家势不可挡的公司将是明智之举。</li></ul></blockquote></p><p> Some investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.</p><p><blockquote>一些投资者可能不会对我要说的话感到兴奋，但这只是一个让历史数据说话的问题：股市崩盘或调整可能正在酝酿。</blockquote></p><p> Recently, the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.</p><p><blockquote>近日，基准<b>标普500</b>经历了10个月内至少5%的首次修正。虽然华尔街没有什么是可以保证的，但一些迹象似乎表明大盘下跌的可能性越来越大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abf177a2ce4f54e7ed16e4189edb28a7\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>There are a laundry list of catalysts that could send the market lower</b></p><p><blockquote><b>有一系列催化剂可能会导致市场走低</b></blockquote></p><p> For instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&amp;P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.</p><p><blockquote>例如，自1950年初以来，标普500出现了38次两位数的百分比下降。这相当于平均每1.87年下降至少10%。我们现在距离冠状病毒大流行初期触底的混乱熊市下跌已经过去了1.5年多。</blockquote></p><p> To build on this point, the broader market&nbsp;has responded very similarly&nbsp;following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&amp;P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.</p><p><blockquote>在这一点上，大盘在过去60年的崩盘或调整后做出了非常相似的反应。在之前的八次熊市之后，不包括冠状病毒崩盘，标普500在三年内都有一两次下跌10%。这告诉我们，从熊市中反弹是一个过程，而且几乎不会像投资者18个多月来所陶醉的直线上涨。</blockquote></p><p> Macroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.</p><p><blockquote>宏观经济因素和基本面指标也发出了警告。原油和天然气价格的快速上涨威胁着人们的钱包，并可能在大流行引发的衰退后迅速抑制经济增长。</blockquote></p><p> There's also margin debt, which&nbsp;has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.</p><p><blockquote>还有保证金债务，该债务在2021年急剧攀升。市场分析公司Yardeni Research的数据显示，自1995年初以来，只有三起保证金债务在一年内上涨60%或以上的情况。前两次发生在互联网泡沫破裂和金融危机开始前几个月。</blockquote></p><p> Even valuations are a concern. The S&amp;P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&amp;P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.</p><p><blockquote>甚至估值也是一个问题。标普500的席勒市盈率(P/E)为37.7，远高于151年平均水平16.9的两倍多。也许更令人担忧的是，标普500的席勒市盈率在151年里只有五次突破并保持在30以上。在席勒市盈率见顶后，前四次的最低跌幅至少为20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5907a4556df957bb90a0b8342cf7d9b9\" tg-width=\"2000\" tg-height=\"1390\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Crashes and corrections are an opportunity to buy great stocks at a discount</p><p><blockquote>崩盘和调整是以折扣价购买优质股票的机会</blockquote></p><p> But there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.</p><p><blockquote>但是这个故事还有另一面。尽管股市调整经常发生，但它们最终总是被牛市反弹抹去。在崩盘或调整期间以折扣价购买优秀公司并长期持有这些股份是随着时间的推移积累财富的秘诀。</blockquote></p><p> If a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.</p><p><blockquote>如果最近波动性上升确实导致股市崩盘或两位数百分比调整，那么以下四只势不可挡的股票将是完美的买入对象。</blockquote></p><p> <b>Berkshire Hathaway</b></p><p><blockquote><b>伯克希尔哈撒韦</b></blockquote></p><p> One of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).</p><p><blockquote>从长远来看，积累财富最安全的方法之一是追随亿万富翁投资者沃伦·巴菲特的脚步。最简单的方法是购买<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B），巴菲特经营的企业集团，自1965年初以来的平均年回报率为令人瞠目结舌的20%（总回报率接近3,300,000%）。</blockquote></p><p> Berkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.</p><p><blockquote>伯克希尔·哈撒韦的投资组合之所以能够成功，有两个关键原因。首先，它具有很强的周期性，该公司约85%的投资资产与科技股、金融股和必需消费品相关。尽管这位奥马哈先知充分意识到经济衰退是经济周期不可避免的一部分，但他也明白经济衰退不会持续很久。他将伯克希尔的投资组合定位为利用多年的扩张期。</blockquote></p><p></p><p> The other catalyst working in the company's favor is its&nbsp;dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.</p><p><blockquote>对该公司有利的另一个催化剂是其股息收入。未来12个月，伯克希尔哈撒韦公司应收取超过50亿美元的普通股和优先股股息，相对于公司投资的成本基础，这相当于约5%的收益率。沃伦·巴菲特已经证明，通过购买具有明显竞争优势的企业而不是出售，在华尔街积累财富是多么容易。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79e58192e80c4f6d82046daca6fcb496\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Trulieve Cannabis</b></p><p><blockquote><b>Trulieve大麻</b></blockquote></p><p> If growth stocks are more your thing,marijuana stock<b>Trulieve Cannabis</b>(OTC:TCNNF)&nbsp;has the look of an unstoppable buy if a crash or correction strikes.</p><p><blockquote>如果你更喜欢成长型股票，大麻股票<b>Trulieve大麻</b>（场外交易代码：TCNNF）看起来是一个不可阻挡的买入，如果崩盘或调整来袭。</blockquote></p><p> First of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.</p><p><blockquote>首先，我们在疫情期间目睹了大麻被视为非自由支配的商品。换句话说，无论疫情如何严重改变北美的经济格局，人们都会继续购买大麻产品。</blockquote></p><p> More specific to Trulieve, it's&nbsp;really differentiated itself&nbsp;from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.</p><p><blockquote>更具体地说，Trulieve确实与其他大麻股有所不同。随着大多数多州运营商(MSO)在十几个合法的美国市场开设商店，Trulieve将大部分注意力集中在医用大麻合法的佛罗里达州。Trulieve在阳光之州拥有94家运营药房，约占全州所有大麻零售点的四分之一。</blockquote></p><p> Saturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.</p><p><blockquote>美国最大的大麻市场之一的饱和帮助该公司有效地建立了自己的品牌，而不会在营销方面倾家荡产。因此，Trulieve Cannabis已经盈利三年多了。</blockquote></p><p> What's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health &amp; Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.</p><p><blockquote>此外，Trulieve最近完成了对MSO Harvest Health&amp;Recreation的全股收购。这笔交易将其带入了新的市场，最重要的是，使其成为亚利桑那州的关键参与者，该州于2020年11月将娱乐性大麻合法化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/454f3bd12d9f51f0677b0832102292fc\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Viatris</b></p><p><blockquote><b>维亚特里斯</b></blockquote></p><p> Want deep-discount value and a market-topping dividend yield? Drug-company<b>Viatris</b>(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.</p><p><blockquote>想要大幅折扣价值和市场领先的股息收益率？制药公司<b>维亚特里斯</b>（纳斯达克：VTRS）如果股市崩盘或调整，其3.2%的收益率很可能是不可阻挡的买入股票。</blockquote></p><p> Viatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.</p><p><blockquote>Viatris于不到一年前正式成立，由辉瑞已成立的药品部门UpJohn与仿制药公司Mylan合并而成。这个想法是，合并后的实体将比两个单独的单位更强大。</blockquote></p><p> As you might imagine, combining two drug juggernauts&nbsp;should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.</p><p><blockquote>正如您可能想象的那样，将两种药物巨头结合起来应该会产生显着的效率。预计到2023年，年度成本协同效应将超过10亿美元。此外，Viatris的管理团队预计，到2023年底，公司的债务负担将从合并完成时的260亿美元削减至195亿美元。未偿债务的减少意味着更大的财务灵活性，并有可能重新点燃公司内部研究引擎。</blockquote></p><p> The real beauty of Viatris is the consistency of demand for its products. Since&nbsp;healthcare stocks&nbsp;are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.</p><p><blockquote>Viatris的真正魅力在于对其产品需求的一致性。由于医疗保健股具有很强的防御性，表现不佳的股市不会改变人们需要处方药的事实。Viatris领先的仿制药部门也完全有能力利用美国和全球人口老龄化的优势。</blockquote></p><p> With a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.</p><p><blockquote>Viatris的远期市盈率低于4，其市盈率几乎是您在医疗保健领域看到的最便宜的市盈率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b7df57a973eb8047515b9d2de719a53\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Sea Limited</b></p><p><blockquote><b>海有限公司</b></blockquote></p><p> A fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based&nbsp;<b>Sea Limited</b>(NYSE:SE). Sea has&nbsp;three exceptionally fast-growing operating segments&nbsp;that could one day push its valuation to $1 trillion.</p><p><blockquote>如果股市崩盘或调整，第四只不可阻挡的股票是新加坡<b>海有限公司</b>（纽约证券交易所代码：SE）。Sea拥有三个增长异常快速的运营部门，有朝一日可能会将其估值推至1万亿美元。</blockquote></p><p> First, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).</p><p><blockquote>首先是其数字娱乐部门，主要包括移动游戏。截至6月，Sea的季度活跃用户为7.25亿，其中12.7%（9220万）是付费用户。整个游戏行业的平均付费游戏比接近2%。此外，第二季度每位用户的平均预订量从去年同期的1.40美元升至1.60美元。目前，这是唯一一个产生正息税折旧摊销前利润(EBITDA)的部门。</blockquote></p><p></p><p> Second, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and&nbsp;$15 billion in gross merchandise value&nbsp;(GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.</p><p><blockquote>其次，Sea拥有快速增长的电子商务平台Shopee。最近一个季度，Shopee处理了14亿笔总订单（同比增长127%）和150亿美元的商品总价值(GMV)。在某些情况下，Shopee在2018年全年处理了100亿美元的GMV。该公司的年在线零售运行率在2.5年内增长了6倍。</blockquote></p><p> Lastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.</p><p><blockquote>最后，其数字金融服务部门拥有3270万付费数字钱包用户，在截至6月底的季度中监管了超过41亿美元的支付。由于Sea服务的许多新兴市场银行服务不足，数字钱包对该公司来说可能是一个偷偷摸摸的长期增长故事。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Unstoppable Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的4只不可阻挡的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-10-14 18:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Double-digit percentage declines in the broader market are more common than investors realize.</li>  <li>There are no shortage of catalysts that could cause a stock market crash or correction.</li>  <li>Buying this quartet of unstoppable companies during a broad-market decline would be a wise move.</li> </ul> </p><p><blockquote><ul><li>大盘两位数的百分比下跌比投资者意识到的更常见。</li><li>不乏可能导致股市崩盘或调整的催化剂。</li><li>在大盘下跌期间收购这四家势不可挡的公司将是明智之举。</li></ul></blockquote></p><p> Some investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.</p><p><blockquote>一些投资者可能不会对我要说的话感到兴奋，但这只是一个让历史数据说话的问题：股市崩盘或调整可能正在酝酿。</blockquote></p><p> Recently, the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.</p><p><blockquote>近日，基准<b>标普500</b>经历了10个月内至少5%的首次修正。虽然华尔街没有什么是可以保证的，但一些迹象似乎表明大盘下跌的可能性越来越大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abf177a2ce4f54e7ed16e4189edb28a7\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>There are a laundry list of catalysts that could send the market lower</b></p><p><blockquote><b>有一系列催化剂可能会导致市场走低</b></blockquote></p><p> For instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&amp;P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.</p><p><blockquote>例如，自1950年初以来，标普500出现了38次两位数的百分比下降。这相当于平均每1.87年下降至少10%。我们现在距离冠状病毒大流行初期触底的混乱熊市下跌已经过去了1.5年多。</blockquote></p><p> To build on this point, the broader market&nbsp;has responded very similarly&nbsp;following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&amp;P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.</p><p><blockquote>在这一点上，大盘在过去60年的崩盘或调整后做出了非常相似的反应。在之前的八次熊市之后，不包括冠状病毒崩盘，标普500在三年内都有一两次下跌10%。这告诉我们，从熊市中反弹是一个过程，而且几乎不会像投资者18个多月来所陶醉的直线上涨。</blockquote></p><p> Macroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.</p><p><blockquote>宏观经济因素和基本面指标也发出了警告。原油和天然气价格的快速上涨威胁着人们的钱包，并可能在大流行引发的衰退后迅速抑制经济增长。</blockquote></p><p> There's also margin debt, which&nbsp;has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.</p><p><blockquote>还有保证金债务，该债务在2021年急剧攀升。市场分析公司Yardeni Research的数据显示，自1995年初以来，只有三起保证金债务在一年内上涨60%或以上的情况。前两次发生在互联网泡沫破裂和金融危机开始前几个月。</blockquote></p><p> Even valuations are a concern. The S&amp;P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&amp;P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.</p><p><blockquote>甚至估值也是一个问题。标普500的席勒市盈率(P/E)为37.7，远高于151年平均水平16.9的两倍多。也许更令人担忧的是，标普500的席勒市盈率在151年里只有五次突破并保持在30以上。在席勒市盈率见顶后，前四次的最低跌幅至少为20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5907a4556df957bb90a0b8342cf7d9b9\" tg-width=\"2000\" tg-height=\"1390\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> Crashes and corrections are an opportunity to buy great stocks at a discount</p><p><blockquote>崩盘和调整是以折扣价购买优质股票的机会</blockquote></p><p> But there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.</p><p><blockquote>但是这个故事还有另一面。尽管股市调整经常发生，但它们最终总是被牛市反弹抹去。在崩盘或调整期间以折扣价购买优秀公司并长期持有这些股份是随着时间的推移积累财富的秘诀。</blockquote></p><p> If a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.</p><p><blockquote>如果最近波动性上升确实导致股市崩盘或两位数百分比调整，那么以下四只势不可挡的股票将是完美的买入对象。</blockquote></p><p> <b>Berkshire Hathaway</b></p><p><blockquote><b>伯克希尔哈撒韦</b></blockquote></p><p> One of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).</p><p><blockquote>从长远来看，积累财富最安全的方法之一是追随亿万富翁投资者沃伦·巴菲特的脚步。最简单的方法是购买<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B），巴菲特经营的企业集团，自1965年初以来的平均年回报率为令人瞠目结舌的20%（总回报率接近3,300,000%）。</blockquote></p><p> Berkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.</p><p><blockquote>伯克希尔·哈撒韦的投资组合之所以能够成功，有两个关键原因。首先，它具有很强的周期性，该公司约85%的投资资产与科技股、金融股和必需消费品相关。尽管这位奥马哈先知充分意识到经济衰退是经济周期不可避免的一部分，但他也明白经济衰退不会持续很久。他将伯克希尔的投资组合定位为利用多年的扩张期。</blockquote></p><p></p><p> The other catalyst working in the company's favor is its&nbsp;dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.</p><p><blockquote>对该公司有利的另一个催化剂是其股息收入。未来12个月，伯克希尔哈撒韦公司应收取超过50亿美元的普通股和优先股股息，相对于公司投资的成本基础，这相当于约5%的收益率。沃伦·巴菲特已经证明，通过购买具有明显竞争优势的企业而不是出售，在华尔街积累财富是多么容易。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79e58192e80c4f6d82046daca6fcb496\" tg-width=\"2000\" tg-height=\"1334\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Trulieve Cannabis</b></p><p><blockquote><b>Trulieve大麻</b></blockquote></p><p> If growth stocks are more your thing,marijuana stock<b>Trulieve Cannabis</b>(OTC:TCNNF)&nbsp;has the look of an unstoppable buy if a crash or correction strikes.</p><p><blockquote>如果你更喜欢成长型股票，大麻股票<b>Trulieve大麻</b>（场外交易代码：TCNNF）看起来是一个不可阻挡的买入，如果崩盘或调整来袭。</blockquote></p><p> First of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.</p><p><blockquote>首先，我们在疫情期间目睹了大麻被视为非自由支配的商品。换句话说，无论疫情如何严重改变北美的经济格局，人们都会继续购买大麻产品。</blockquote></p><p> More specific to Trulieve, it's&nbsp;really differentiated itself&nbsp;from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.</p><p><blockquote>更具体地说，Trulieve确实与其他大麻股有所不同。随着大多数多州运营商(MSO)在十几个合法的美国市场开设商店，Trulieve将大部分注意力集中在医用大麻合法的佛罗里达州。Trulieve在阳光之州拥有94家运营药房，约占全州所有大麻零售点的四分之一。</blockquote></p><p> Saturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.</p><p><blockquote>美国最大的大麻市场之一的饱和帮助该公司有效地建立了自己的品牌，而不会在营销方面倾家荡产。因此，Trulieve Cannabis已经盈利三年多了。</blockquote></p><p> What's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health &amp; Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.</p><p><blockquote>此外，Trulieve最近完成了对MSO Harvest Health&amp;Recreation的全股收购。这笔交易将其带入了新的市场，最重要的是，使其成为亚利桑那州的关键参与者，该州于2020年11月将娱乐性大麻合法化。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/454f3bd12d9f51f0677b0832102292fc\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Viatris</b></p><p><blockquote><b>维亚特里斯</b></blockquote></p><p> Want deep-discount value and a market-topping dividend yield? Drug-company<b>Viatris</b>(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.</p><p><blockquote>想要大幅折扣价值和市场领先的股息收益率？制药公司<b>维亚特里斯</b>（纳斯达克：VTRS）如果股市崩盘或调整，其3.2%的收益率很可能是不可阻挡的买入股票。</blockquote></p><p> Viatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.</p><p><blockquote>Viatris于不到一年前正式成立，由辉瑞已成立的药品部门UpJohn与仿制药公司Mylan合并而成。这个想法是，合并后的实体将比两个单独的单位更强大。</blockquote></p><p> As you might imagine, combining two drug juggernauts&nbsp;should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.</p><p><blockquote>正如您可能想象的那样，将两种药物巨头结合起来应该会产生显着的效率。预计到2023年，年度成本协同效应将超过10亿美元。此外，Viatris的管理团队预计，到2023年底，公司的债务负担将从合并完成时的260亿美元削减至195亿美元。未偿债务的减少意味着更大的财务灵活性，并有可能重新点燃公司内部研究引擎。</blockquote></p><p> The real beauty of Viatris is the consistency of demand for its products. Since&nbsp;healthcare stocks&nbsp;are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.</p><p><blockquote>Viatris的真正魅力在于对其产品需求的一致性。由于医疗保健股具有很强的防御性，表现不佳的股市不会改变人们需要处方药的事实。Viatris领先的仿制药部门也完全有能力利用美国和全球人口老龄化的优势。</blockquote></p><p> With a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.</p><p><blockquote>Viatris的远期市盈率低于4，其市盈率几乎是您在医疗保健领域看到的最便宜的市盈率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b7df57a973eb8047515b9d2de719a53\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Sea Limited</b></p><p><blockquote><b>海有限公司</b></blockquote></p><p> A fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based&nbsp;<b>Sea Limited</b>(NYSE:SE). Sea has&nbsp;three exceptionally fast-growing operating segments&nbsp;that could one day push its valuation to $1 trillion.</p><p><blockquote>如果股市崩盘或调整，第四只不可阻挡的股票是新加坡<b>海有限公司</b>（纽约证券交易所代码：SE）。Sea拥有三个增长异常快速的运营部门，有朝一日可能会将其估值推至1万亿美元。</blockquote></p><p> First, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).</p><p><blockquote>首先是其数字娱乐部门，主要包括移动游戏。截至6月，Sea的季度活跃用户为7.25亿，其中12.7%（9220万）是付费用户。整个游戏行业的平均付费游戏比接近2%。此外，第二季度每位用户的平均预订量从去年同期的1.40美元升至1.60美元。目前，这是唯一一个产生正息税折旧摊销前利润(EBITDA)的部门。</blockquote></p><p></p><p> Second, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and&nbsp;$15 billion in gross merchandise value&nbsp;(GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.</p><p><blockquote>其次，Sea拥有快速增长的电子商务平台Shopee。最近一个季度，Shopee处理了14亿笔总订单（同比增长127%）和150亿美元的商品总价值(GMV)。在某些情况下，Shopee在2018年全年处理了100亿美元的GMV。该公司的年在线零售运行率在2.5年内增长了6倍。</blockquote></p><p> Lastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.</p><p><blockquote>最后，其数字金融服务部门拥有3270万付费数字钱包用户，在截至6月底的季度中监管了超过41亿美元的支付。由于Sea服务的许多新兴市场银行服务不足，数字钱包对该公司来说可能是一个偷偷摸摸的长期增长故事。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/10/14/4-unstoppable-stocks-to-buy-if-stock-market-crash/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd","TCNNF":"Trulieve Cannabis Corporation","BRK.B":"伯克希尔B","BRK.A":"伯克希尔","VTRS":"Viatris Inc."},"source_url":"https://www.fool.com/investing/2021/10/14/4-unstoppable-stocks-to-buy-if-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184483169","content_text":"Key Points\n\nDouble-digit percentage declines in the broader market are more common than investors realize.\nThere are no shortage of catalysts that could cause a stock market crash or correction.\nBuying this quartet of unstoppable companies during a broad-market decline would be a wise move.\n\n\nSome investors might not be thrilled with what I'm about to say, but it's simply a matter of allowing historical data do the talking: A stock market crash or correction may be brewing.\nRecently, the benchmark S&P 500 underwent its first correction of at least 5% in 10 months. While nothing is guaranteed on Wall Street, a number of signs appear to be pointing to the growing likelihood of downside for the broader market.\nIMAGE SOURCE: GETTY IMAGES.\nThere are a laundry list of catalysts that could send the market lower\nFor instance, since the beginning of 1950, there have been 38 double-digit percentage declines in the S&P 500. That equates to one drop of at least 10%, on average, every 1.87 years. We're now more than 1.5 years removed from the chaotic bear market decline that bottomed out during the initial stages of the coronavirus pandemic.\nTo build on this point, the broader market has responded very similarly following crashes or corrections for the past 60 years. Following each of the previous eight bear markets, excluding the coronavirus crash, there were either one or two declines of 10% in the S&P 500 within three years. What this tells us is that rebounding from a bear market is a process and pretty much never the straight line higher that investors have reveled in for more than 18 months.\nMacroeconomic factors and fundamental metrics pose warnings, too. Rapidly rising crude oil and natural-gas prices threaten pocketbooks and could quickly throttle down economic growth following the pandemic-induced recession.\nThere's also margin debt, which has climbed at a precipitous pace in 2021. Data from market-analytics company Yardeni Research shows that there have only been three instances since the beginning of 1995 where margin debt rose 60% or more in a single year. The previous two occurred just months before the dot-com bubble burst and the financial crisis began.\nEven valuations are a concern. The S&P 500's Shiller price-to-earnings (P/E) ratio sits at 37.7, which is well over double its 151-year average of 16.9. Perhaps more worrisome, the S&P 500's Shiller P/E has only crossed above and held 30 on five occasions in 151 years. The previous four instances saw minimum declines of at least 20% after the Shiller P/E ratio peaked.\nIMAGE SOURCE: GETTY IMAGES.\nCrashes and corrections are an opportunity to buy great stocks at a discount\nBut there's another side to this story. Even though stock market corrections occur often, they've always eventually been erased by a bull-market rally. Buying great companies at a discount during a crash or correction and holding those stakes for long periods of time is a recipe to build wealth over time.\nIf a stock market crash or double-digit percentage correction does materialize from this recent uptick in volatility, the following four unstoppable stocks would make for perfect buys.\nBerkshire Hathaway\nOne of the safest ways to build wealth over the long run is to follow in the footsteps of billionaire investor Warren Buffett. The easiest way to do that is to buy shares of Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B), the conglomerate run by Buffett that's averaged ajaw-dropping annual return of 20%since the beginning of 1965 (an aggregate return of close to 3,300,000%).\nBerkshire Hathaway's portfolio is successful for two key reasons. First,it's highly cyclical, with about 85% of the company's invested assets tied up in tech stocks, financial stocks, and consumer staples. Though the Oracle of Omaha is fully aware that recessions are an inevitable part of the economic cycle, he also understands that economic downturns don't last very long. He's positioned Berkshire's investment portfolio to take advantage of multiyear periods of expansion.\nThe other catalyst working in the company's favor is its dividend income. Over the next 12 months, Berkshire Hathaway should collect more than $5 billion in common and preferred dividends, which equates to about a 5% yield, relative to the company's cost basis on its investments. Warren Buffett has demonstrated how easy it is to build wealth on Wall Street by purchasing businesses with clear-cut competitive advantages and not selling.\nIMAGE SOURCE: GETTY IMAGES.\nTrulieve Cannabis\nIf growth stocks are more your thing,marijuana stockTrulieve Cannabis(OTC:TCNNF) has the look of an unstoppable buy if a crash or correction strikes.\nFirst of all, we witnessed during the pandemic that cannabis is treated as a non-discretionary good. In other words, people kept buying pot products, no matter how badly the pandemic altered the economic landscape in North America.\nMore specific to Trulieve, it's really differentiated itself from other pot stocks. With most multistate operators (MSOs) setting up shop in well over a dozen legalized U.S. markets, Trulieve focused most of its attention on medical marijuana-legal Florida. Trulieve has 94 operating dispensaries in the Sunshine State, which represents about a quarter of all cannabis retail locations statewide.\nSaturating one of the largest pot markets in the U.S. has helped the company effectively build up its brand without breaking the bank on the marketing front. As a result, Trulieve Cannabis has been profitable for more than three years.\nWhat's more, Trulieve recently completed its all-share acquisition of MSO Harvest Health & Recreation. This deal moves it into new markets, and most importantly, makes it the key player in Arizona, which legalized recreational marijuana in November 2020.\nIMAGE SOURCE: GETTY IMAGES.\nViatris\nWant deep-discount value and a market-topping dividend yield? Drug-companyViatris(NASDAQ:VTRS)and its 3.2% yield may well be the unstoppable stock to buy if there's a stock market crash or correction.\nViatris was officially formed less than a year ago by combining Pfizer's established drug unit UpJohn with generic-drug company Mylan. The idea was that the combined entity would be stronger than the two individual units would have ever been.\nAs you might imagine, combining two drug juggernauts should yield significant efficiencies. The expectation is for more than $1 billion in annual cost synergies by 2023. Further, Viatris' management team expects to have whittled down the company's debt load from $26 billion, when the combination closed, to $19.5 billion by the end of 2023. Less debt outstanding means more financial flexibility and, potentially, the ability to reignite the company's internal research engine.\nThe real beauty of Viatris is the consistency of demand for its products. Since healthcare stocks are highly defensive, a poorly performing stock market won't change the fact that people need prescribed drugs. Viatris' leading generic division is also perfectly positioned to take advantage of an aging U.S. and global population.\nWith a forward-year P/E ratio below 4, Viatris has about as a cheap of a multiple as you'll ever see in the healthcare space.\nIMAGE SOURCE: GETTY IMAGES.\nSea Limited\nA fourth unstoppable stock to gobble up if there's a stock market crash or correction is Singapore-based Sea Limited(NYSE:SE). Sea has three exceptionally fast-growing operating segments that could one day push its valuation to $1 trillion.\nFirst, there's its digital-entertainment segment, which primarily encompasses mobile gaming. Sea ended June with 725 million quarterly active users, 12.7% of which (92.2 million) were paying to play. The average pay-to-play ratio throughout the gaming industry is closer to 2%. Additionally, average bookings per user rose to $1.60 in Q2 from $1.40 in the prior-year period. For the time being, this is the only segment generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA).\nSecond, Sea has its rapidly growing e-commerce platform, known as Shopee. In the latest quarter, Shopee handled 1.4 billion gross orders (up 127% year over year) and $15 billion in gross merchandise value (GMV). For some context, Shopee handled $10 billion in GMV in the entirety of 2018. The company's annual online retail run rate has sextupled in 2.5 years.\nLastly, its digital financial services segment has 32.7 million paying digital-wallet users and oversaw more than $4.1 billion in payments in the June-ended quarter. Since many of the emerging markets Sea serves are underbanked, digital wallets could be a sneaky long-term growth story for the company.","news_type":1,"symbols_score_info":{"SE":0.9,"TCNNF":0.9,"VTRS":0.9,"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":2676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":822288802,"gmtCreate":1634134595653,"gmtModify":1634134595829,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SE\">$SEA LTD(SE)$</a>DIPS ARE OVER. LET’S FLYAGAIN","listText":"<a href=\"https://laohu8.com/S/SE\">$SEA LTD(SE)$</a>DIPS ARE OVER. LET’S FLYAGAIN","text":"$SEA LTD(SE)$DIPS ARE OVER. LET’S FLYAGAIN","images":[{"img":"https://static.tigerbbs.com/9ec865b1d1d1b1b2c4b8c7c91600de88","width":"750","height":"1174"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/822288802","isVote":1,"tweetType":1,"viewCount":4186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":823138181,"gmtCreate":1633596373897,"gmtModify":1633596374317,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823138181","repostId":"2173948202","repostType":4,"isVote":1,"tweetType":1,"viewCount":2674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829847592,"gmtCreate":1633492369547,"gmtModify":1633492370003,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/829847592","repostId":"1140243685","repostType":4,"repost":{"id":"1140243685","kind":"news","pubTimestamp":1633440012,"share":"https://www.laohu8.com/m/news/1140243685?lang=zh_CN&edition=full","pubTime":"2021-10-05 21:20","market":"us","language":"en","title":"This veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1140243685","media":"Marketwatch","summary":"There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq","content":"<p>There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq CompositeCOMPisteetering toward correction territory&nbsp;and the S&amp;P 500SPXand Dow industrialsDJIAare halfway there. With jobs data looming for Friday, even the bravest dip buyers may have second thoughts.</p><p><blockquote>在周一的暴跌之后，有一些复苏的迹象，主要是科技股。纳斯达克综合指数正在走向调整区域，标准普尔500SPX和道琼斯工业平均指数已经走到了一半。随着周五就业数据的临近，即使是最勇敢的逢低买入者也可能会改变主意。</blockquote></p><p> Don’t look for reassurance in our&nbsp;<b>call of the day</b>, where the founder and CEO ofBullAndBearProfits.com, Jon Wolfenbarger, predicts U.S. stocks may be “on the verge of starting the biggest bear market since the Great Depression.”</p><p><blockquote>不要在我们的<b>今日看涨期权</b>BullandBearProfits.com创始人兼首席执行官乔恩·沃尔芬伯格(Jon Wolfenbarger)预测，美国股市可能“即将开启自大萧条以来最大的熊市”。</blockquote></p><p> “Now with the Fed talking about tapering and money supply growth slowing&nbsp;significantly from 39% y/y in February to only 8% y/y in August, perhaps that is&nbsp;enough of a ‘tight monetary policy’ to change investor psychology to a more&nbsp;bearish mood? We will see,” he said in a Monday interview and follow-up comments with MarketWatch.</p><p><blockquote>“现在，随着美联储谈论缩减购债规模，货币供应增长从2月份的同比39%大幅放缓至8月份的同比仅8%，也许‘紧缩货币政策’足以将投资者心理转变为更悲观的情绪？我们拭目以待，”他在周一接受MarketWatch采访和后续评论时表示。</blockquote></p><p> Wolfenbarger, who spent 22 years as an equity analyst at Allianz Global Investors, said while he’s not a permabear — his newsletter offers strategies for profiting when markets go both ways — investors should heed some warnings signs.</p><p><blockquote>Wolfenbarger在Allianz Global Investors担任了22年的股票分析师，他表示，虽然他不是永久看跌者——他的时事通讯提供了在市场双向波动时获利的策略——但投资者应该注意一些警告信号。</blockquote></p><p> Overbullish sentiment, economic weakness, excessive debt levels and limited policy tools are key ingredients for a market rout worse than that seen in 2008-09, he said, adding that a top for the S&amp;P 500 reached a few weeks ago could have been the start.</p><p><blockquote>他表示，过度看涨情绪、经济疲软、债务水平过高和政策工具有限是导致市场暴跌比2008-09年更严重的关键因素，并补充说，几周前达到的标普500顶部可能是开始。</blockquote></p><p> One chart he’s watching that&nbsp;predicts future long-term stock returns— a favorite of legendary investor Warren Buffett, the chairman and CEO of Berkshire HathawayBRKBRK— shows equities 30% above the prior all-time high seen in the tech bubble peak of 2000.</p><p><blockquote>他正在观看的一张预测未来长期股票回报的图表（伯克希尔哈撒韦公司董事长兼首席执行官、传奇投资者沃伦·巴菲特的最爱）显示，股市比2000年科技泡沫高峰时的历史高点高出30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e73964c10e0be9d02489e2764a98be5\" tg-width=\"700\" tg-height=\"297\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Wolfenbarger is watching S&amp;P 500 moving averages closely. If the 250-day, currently at 4,020, were to “really break through” that could trip a major drop for stock. His below chart shows the S&amp;P 500 price (black line) with its 250-dma since 1980. The red circles indicate when it fell below the 250-dma and the 250-dma slope was falling.</p><p><blockquote>沃尔芬伯格正在密切关注标普500移动平均线。如果250日线（目前为4,020点）“真正突破”，可能会导致股价大幅下跌。他的下图显示了标普500价格（黑线）自1980年以来的250日均线。红色圆圈表示何时跌破250-dma并且250-dma斜率正在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f31fb05ef85111232a3410a405e05f72\" tg-width=\"700\" tg-height=\"316\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> As for what investors should do — Wolfenbarger advised using exchange-traded funds that actually go up in bear markets, which could be the iShares 20+ Year Treasury Bond ETFTLTor SPDR Gold SharesGLD,&nbsp;though he prefers inverse ETFs such as ProShares UltraShort S&amp;P 500SDSand the ProShares Short S&amp;P 500SH.</p><p><blockquote>至于投资者应该做什么——Wolfenbarger建议使用在熊市中实际上涨的交易所交易基金，这可能是iShares 20+年期国债ETFTLTor SPDR Gold SharesGLD，尽管他更喜欢ProShares UltraShort S&amp;P 500SDS和ProShares Short S&amp;P 500SH。</blockquote></p><p> “I personally think it’s easier for most people to just buy an inverse ETF because it moves the same way as a normal stock and ETF, and the SH went up 89% in the last bear market,” he said, adding that SDS went up 184%.</p><p><blockquote>“我个人认为，对于大多数人来说，购买反向ETF更容易，因为它的走势与普通股票和ETF相同，而且SH在上一次熊市中上涨了89%，”他说，并补充说SDS上涨了184%。</blockquote></p><p> Wolfenbarger said he has honed his strategies after adhering for years to Buffett’s advice of just&nbsp;buying and holding an S&amp;P 500 index fund.</p><p><blockquote>Wolfenbarger表示，多年来一直坚持巴菲特的建议，即只购买并持有标普500指数基金，他已经磨练了自己的策略。</blockquote></p><p> “But then I started looking at history and you know it took 25 years for the market to get back to the 1929 peak, and I don’t have 25 years,” said Wolfenbarger, who is in his early 50s. “Any given investment can go down 50% to 90% and it can stay down for decades, at least 10 to 20 years.”</p><p><blockquote>“但后来我开始回顾历史，你知道市场花了25年时间才回到1929年的峰值，而我没有25年的时间，”50岁出头的沃尔芬伯格说。“任何给定的投资都可能下降50%到90%，并且可以持续数十年，至少10到20年。”</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>This veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis veteran analyst hears echoes of the 1929 crash in today’s stock market<blockquote>这位资深分析师在今天的股市中听到了1929年崩盘的回声</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Marketwatch</strong><span class=\"h-time small\">2021-10-05 21:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq CompositeCOMPisteetering toward correction territory&nbsp;and the S&amp;P 500SPXand Dow industrialsDJIAare halfway there. With jobs data looming for Friday, even the bravest dip buyers may have second thoughts.</p><p><blockquote>在周一的暴跌之后，有一些复苏的迹象，主要是科技股。纳斯达克综合指数正在走向调整区域，标准普尔500SPX和道琼斯工业平均指数已经走到了一半。随着周五就业数据的临近，即使是最勇敢的逢低买入者也可能会改变主意。</blockquote></p><p> Don’t look for reassurance in our&nbsp;<b>call of the day</b>, where the founder and CEO ofBullAndBearProfits.com, Jon Wolfenbarger, predicts U.S. stocks may be “on the verge of starting the biggest bear market since the Great Depression.”</p><p><blockquote>不要在我们的<b>今日看涨期权</b>BullandBearProfits.com创始人兼首席执行官乔恩·沃尔芬伯格(Jon Wolfenbarger)预测，美国股市可能“即将开启自大萧条以来最大的熊市”。</blockquote></p><p> “Now with the Fed talking about tapering and money supply growth slowing&nbsp;significantly from 39% y/y in February to only 8% y/y in August, perhaps that is&nbsp;enough of a ‘tight monetary policy’ to change investor psychology to a more&nbsp;bearish mood? We will see,” he said in a Monday interview and follow-up comments with MarketWatch.</p><p><blockquote>“现在，随着美联储谈论缩减购债规模，货币供应增长从2月份的同比39%大幅放缓至8月份的同比仅8%，也许‘紧缩货币政策’足以将投资者心理转变为更悲观的情绪？我们拭目以待，”他在周一接受MarketWatch采访和后续评论时表示。</blockquote></p><p> Wolfenbarger, who spent 22 years as an equity analyst at Allianz Global Investors, said while he’s not a permabear — his newsletter offers strategies for profiting when markets go both ways — investors should heed some warnings signs.</p><p><blockquote>Wolfenbarger在Allianz Global Investors担任了22年的股票分析师，他表示，虽然他不是永久看跌者——他的时事通讯提供了在市场双向波动时获利的策略——但投资者应该注意一些警告信号。</blockquote></p><p> Overbullish sentiment, economic weakness, excessive debt levels and limited policy tools are key ingredients for a market rout worse than that seen in 2008-09, he said, adding that a top for the S&amp;P 500 reached a few weeks ago could have been the start.</p><p><blockquote>他表示，过度看涨情绪、经济疲软、债务水平过高和政策工具有限是导致市场暴跌比2008-09年更严重的关键因素，并补充说，几周前达到的标普500顶部可能是开始。</blockquote></p><p> One chart he’s watching that&nbsp;predicts future long-term stock returns— a favorite of legendary investor Warren Buffett, the chairman and CEO of Berkshire HathawayBRKBRK— shows equities 30% above the prior all-time high seen in the tech bubble peak of 2000.</p><p><blockquote>他正在观看的一张预测未来长期股票回报的图表（伯克希尔哈撒韦公司董事长兼首席执行官、传奇投资者沃伦·巴菲特的最爱）显示，股市比2000年科技泡沫高峰时的历史高点高出30%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e73964c10e0be9d02489e2764a98be5\" tg-width=\"700\" tg-height=\"297\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Wolfenbarger is watching S&amp;P 500 moving averages closely. If the 250-day, currently at 4,020, were to “really break through” that could trip a major drop for stock. His below chart shows the S&amp;P 500 price (black line) with its 250-dma since 1980. The red circles indicate when it fell below the 250-dma and the 250-dma slope was falling.</p><p><blockquote>沃尔芬伯格正在密切关注标普500移动平均线。如果250日线（目前为4,020点）“真正突破”，可能会导致股价大幅下跌。他的下图显示了标普500价格（黑线）自1980年以来的250日均线。红色圆圈表示何时跌破250-dma并且250-dma斜率正在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f31fb05ef85111232a3410a405e05f72\" tg-width=\"700\" tg-height=\"316\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> As for what investors should do — Wolfenbarger advised using exchange-traded funds that actually go up in bear markets, which could be the iShares 20+ Year Treasury Bond ETFTLTor SPDR Gold SharesGLD,&nbsp;though he prefers inverse ETFs such as ProShares UltraShort S&amp;P 500SDSand the ProShares Short S&amp;P 500SH.</p><p><blockquote>至于投资者应该做什么——Wolfenbarger建议使用在熊市中实际上涨的交易所交易基金，这可能是iShares 20+年期国债ETFTLTor SPDR Gold SharesGLD，尽管他更喜欢ProShares UltraShort S&amp;P 500SDS和ProShares Short S&amp;P 500SH。</blockquote></p><p> “I personally think it’s easier for most people to just buy an inverse ETF because it moves the same way as a normal stock and ETF, and the SH went up 89% in the last bear market,” he said, adding that SDS went up 184%.</p><p><blockquote>“我个人认为，对于大多数人来说，购买反向ETF更容易，因为它的走势与普通股票和ETF相同，而且SH在上一次熊市中上涨了89%，”他说，并补充说SDS上涨了184%。</blockquote></p><p> Wolfenbarger said he has honed his strategies after adhering for years to Buffett’s advice of just&nbsp;buying and holding an S&amp;P 500 index fund.</p><p><blockquote>Wolfenbarger表示，多年来一直坚持巴菲特的建议，即只购买并持有标普500指数基金，他已经磨练了自己的策略。</blockquote></p><p> “But then I started looking at history and you know it took 25 years for the market to get back to the 1929 peak, and I don’t have 25 years,” said Wolfenbarger, who is in his early 50s. “Any given investment can go down 50% to 90% and it can stay down for decades, at least 10 to 20 years.”</p><p><blockquote>“但后来我开始回顾历史，你知道市场花了25年时间才回到1929年的峰值，而我没有25年的时间，”50岁出头的沃尔芬伯格说。“任何给定的投资都可能下降50%到90%，并且可以持续数十年，至少10到20年。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/why-this-veteran-analyst-sees-stocks-headed-for-the-biggest-bear-market-since-the-great-depression-11633432477?siteid=yhoof2\">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":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/why-this-veteran-analyst-sees-stocks-headed-for-the-biggest-bear-market-since-the-great-depression-11633432477?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1140243685","content_text":"There are some signs of a recovery attempt following Monday’s wipeout, chiefly for techs. The Nasdaq CompositeCOMPisteetering toward correction territory and the S&P 500SPXand Dow industrialsDJIAare halfway there. With jobs data looming for Friday, even the bravest dip buyers may have second thoughts.\nDon’t look for reassurance in our call of the day, where the founder and CEO ofBullAndBearProfits.com, Jon Wolfenbarger, predicts U.S. stocks may be “on the verge of starting the biggest bear market since the Great Depression.”\n“Now with the Fed talking about tapering and money supply growth slowing significantly from 39% y/y in February to only 8% y/y in August, perhaps that is enough of a ‘tight monetary policy’ to change investor psychology to a more bearish mood? We will see,” he said in a Monday interview and follow-up comments with MarketWatch.\nWolfenbarger, who spent 22 years as an equity analyst at Allianz Global Investors, said while he’s not a permabear — his newsletter offers strategies for profiting when markets go both ways — investors should heed some warnings signs.\nOverbullish sentiment, economic weakness, excessive debt levels and limited policy tools are key ingredients for a market rout worse than that seen in 2008-09, he said, adding that a top for the S&P 500 reached a few weeks ago could have been the start.\nOne chart he’s watching that predicts future long-term stock returns— a favorite of legendary investor Warren Buffett, the chairman and CEO of Berkshire HathawayBRKBRK— shows equities 30% above the prior all-time high seen in the tech bubble peak of 2000.\n\nWolfenbarger is watching S&P 500 moving averages closely. If the 250-day, currently at 4,020, were to “really break through” that could trip a major drop for stock. His below chart shows the S&P 500 price (black line) with its 250-dma since 1980. The red circles indicate when it fell below the 250-dma and the 250-dma slope was falling.\n\nAs for what investors should do — Wolfenbarger advised using exchange-traded funds that actually go up in bear markets, which could be the iShares 20+ Year Treasury Bond ETFTLTor SPDR Gold SharesGLD, though he prefers inverse ETFs such as ProShares UltraShort S&P 500SDSand the ProShares Short S&P 500SH.\n“I personally think it’s easier for most people to just buy an inverse ETF because it moves the same way as a normal stock and ETF, and the SH went up 89% in the last bear market,” he said, adding that SDS went up 184%.\nWolfenbarger said he has honed his strategies after adhering for years to Buffett’s advice of just buying and holding an S&P 500 index fund.\n“But then I started looking at history and you know it took 25 years for the market to get back to the 1929 peak, and I don’t have 25 years,” said Wolfenbarger, who is in his early 50s. “Any given investment can go down 50% to 90% and it can stay down for decades, at least 10 to 20 years.”","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3758,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820574167,"gmtCreate":1633409370593,"gmtModify":1633409371087,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/820574167","repostId":"1140558350","repostType":4,"isVote":1,"tweetType":1,"viewCount":963,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":867800376,"gmtCreate":1633232257522,"gmtModify":1633232257967,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"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/867800376","repostId":"1166373612","repostType":4,"repost":{"id":"1166373612","kind":"news","pubTimestamp":1633043917,"share":"https://www.laohu8.com/m/news/1166373612?lang=zh_CN&edition=full","pubTime":"2021-10-01 07:18","market":"us","language":"en","title":"Stocks sink in whipsaw session, S&P 500 posts first monthly decline since January<blockquote>股市大幅下跌，标普500自一月份以来首次月度下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166373612","media":"Yahoo Finance","summary":"Stocks sank on Thursday in the final session of September and the third quarter, with stocks extendi","content":"<p>Stocks sank on Thursday in the final session of September and the third quarter, with stocks extending a weeks-long streak of volatility as concerns over inflation, the economic backdrop and debates in Washington over a host of measures weighed on equities.</p><p><blockquote>周四，股市在9月最后一个交易日和第三季度下跌，由于对通胀、经济背景的担忧以及华盛顿对一系列措施的辩论打压股市，股市延续了长达数周的波动。</blockquote></p><p> The S&amp;P 500 ended the day lower by 1.2%. The index fell by more than 4.5% in September for its first monthly decline since January, with concerns around fiscal and monetary policy, inflation, regulations in China and the ongoing pandemic all colliding to knock equities from their upward trajectory. Still, the S&amp;P 500 remained up by about 15% for the year-to-date through Thursday's close.</p><p><blockquote>标普500当天收盘下跌1.2%。该指数9月份下跌超过4.5%，为1月份以来首次月度下跌，对财政和货币政策、通胀、中国监管以及持续的疫情的担忧都将股市从上升轨道上拉了下来。尽管如此，截至周四收盘，标普500今年迄今仍上涨了约15%。</blockquote></p><p> Cyclical stocks, though down during Thursday's session, led the way higher in September as investors bet on higher inflation and rising rates. A jump in crude oil prices helped make the energy sector by far the best performer in the S&amp;P 500. Financial stocks also outperformed, with rising Treasury yields serving as a tailwind to bank profitability.</p><p><blockquote>周期性股票虽然在周四交易中下跌，但由于投资者押注通胀上升和利率上升，9月份领涨。原油价格上涨帮助能源板块成为标普500中迄今为止表现最好的板块。金融股也表现出色，美国国债收益率上升成为银行盈利的推动力。</blockquote></p><p> The Nasdaq has underperformed over the past month as traders rotated away from the growth and technology stocks that pulled the market higher last year. High-flying technology stocks also got hit as Treasury yields jumped over the past week, with the rising borrowing costs weighing on the valuations of growth companies that rely heavily on expectations of strong future earnings.</p><p><blockquote>过去一个月，纳斯达克表现不佳，交易员纷纷远离去年拉动市场走高的成长股和科技股。随着过去一周美国国债收益率飙升，飙升的科技股也受到了打击，借贷成本上升打压了严重依赖未来强劲盈利预期的成长型公司的估值。</blockquote></p><p> “This feels a lot worse than it actually is because we haven’t had much volatility since last October, last September,” Paul Schatz, Heritage Capital President, told Yahoo Finance Live on Wednesday.</p><p><blockquote>Heritage Capital总裁保罗·沙茨(Paul Schatz)周三对雅虎财经直播表示：“这感觉比实际情况要糟糕得多，因为自去年10月、去年9月以来，我们没有出现太大的波动。”</blockquote></p><p> Concerns about inflation and supply chain issues continued to hamper the markets on Thursday.Shares of Bed Bath &amp; Beyond fell 22.1%after the company said those issues hurt the company’s second-quarter results, and the news appeared to hit fellow retail stocks. Walgreens Boots Alliance and Home Depot fell 3.4% and nearly 2.6%, respectively, making them two of the worst performers in the Dow.</p><p><blockquote>对通胀和供应链问题的担忧周四继续阻碍市场。Bed Bath&amp;Beyond表示这些问题损害了公司第二季度业绩，该公司股价下跌22.1%，这一消息似乎打击了其他零售股。Walgreens Boots Alliance和Home Depot分别下跌3.4%和近2.6%，成为道指中表现最差的两家公司。</blockquote></p><p> Energy and financial stocks, which have been some of the best performers in recent weeks, took a step back on Thursday. Shares of Goldman Sachs were 1.7% lower, while JPMorgan was down 1.3%.</p><p><blockquote>最近几周表现最好的能源和金融股周四回落。高盛股价下跌1.7%，摩根大通股价下跌1.3%。</blockquote></p><p> Tech stocks outperformed on Thursday, but the Nasdaq still suffered its fifth-straight losing session. Tech names have been hit by the recent jump in the 10-year Treasury yield, which broke above 1.567% earlier in the week. The measure retreated slightly on Thursday.</p><p><blockquote>科技股周四表现出色，但纳斯达克仍连续第五个交易日下跌。科技股受到近期10年期国债收益率飙升的打击，本周早些时候突破1.567%。该措施周四小幅回落。</blockquote></p><p> Rising yields, fueled by concerns over inflation and the Federal Reserve’s signals that it will soon begin winding down its pandemic-era asset purchases, are seen as a negative for tech stocks because they make far-off future profits look less attractive to investors.</p><p><blockquote>由于对通胀的担忧以及美联储表示将很快开始逐步减少大流行时期的资产购买，收益率上升被视为对科技股不利，因为它们使遥远的未来利润对投资者的吸引力降低。</blockquote></p><p> “We’ve been talking about spooky season — September and October — and the expectation of about a 5% dip from the high. … But we’ve said we don’t expect a correction,” said David Bianco of DWS Group. A correction is typically defined as a pullback of more than 10% from a recent high.</p><p><blockquote>DWS Group的David Bianco表示：“我们一直在谈论9月和10月的怪异季节，以及从高点下跌约5%的预期……但我们已经表示，我们预计不会出现调整。”修正通常被定义为从近期高点回调超过10%。</blockquote></p><p> “We expect yields to climb, and that’s why we’re overweight banks, but we don’t expect yields to surge. And without a surge in yields, we can live with these [valuations],” Bianco added.</p><p><blockquote>Bianco补充道：“我们预计收益率将攀升，这就是为什么我们是跑赢大盘银行，但我们预计收益率不会飙升。如果收益率没有飙升，我们可以接受这些（估值）。”</blockquote></p><p> Shares of Apple and Amazon finished the day in negative territory after moving higher in morning trading. Chip giant Nvidia and Netflix managed to hold on to their gains but closed well off session highs.</p><p><blockquote>苹果和亚马逊的股价在早盘走高后，当天收盘下跌。芯片巨头英伟达和Netflix设法守住了涨幅，但收盘远低于盘中高点。</blockquote></p><p> “We wouldn’t get caught up in any end-of-quarter machinations today and continue to advise fading rallies (especially in tech) as the coming weeks will stay rocky,” wrote Adam Crisafulli of Vital Knowledge.</p><p><blockquote>Vital Knowledge的亚当·克里萨富利(Adam Crisafulli)写道：“我们今天不会陷入任何季末阴谋，并继续建议涨势减弱（尤其是科技股），因为未来几周仍将不稳定。”</blockquote></p><p> September’s losses led to a weak third quarter for the market. For the 3-month period, the Dow dropped 1.9%, while the Nasdaq Composite shed 0.4%. The S&amp;P 500 held on to a modest gain and is still up nearly 15% on the year.</p><p><blockquote>9月份的亏损导致市场第三季度疲软。三个月内，道琼斯指数下跌1.9%，纳斯达克综合指数下跌0.4%。标普500保持小幅上涨，今年仍上涨近15%。</blockquote></p><p> October has a reputation for some violent sell-offs but overall is typically the start of better seasonal performance for stocks. The S&amp;P 500 averages a 0.8% gain for the month, according to the Stock Trader’s Almanac.</p><p><blockquote>十月份因一些暴力抛售而闻名，但总体而言，这通常是股市季节性表现较好的开始。根据股票交易者年鉴，标普500本月平均上涨0.8%。</blockquote></p><p> Investors were also keeping an eye on Washington as Congresspassed a bill that would fund the government through early December. The bill would avert a government shutdown but Congress still has not raised the debt ceiling, which Treasury Secretary Janet Yellen says will be reached on Oct. 18.</p><p><blockquote>随着国会通过一项法案，为政府提供资金直至12月初，投资者也在关注华盛顿。该法案将避免政府关门，但国会仍未提高债务上限，财政部长珍妮特·耶伦表示将于10月18日达到债务上限。</blockquote></p><p> Yellen and Fed Chair Jerome Powell testified before the House Financial Services Committee on Thursday. Yellen reiterated her call for Congress to raise the debt ceiling, saying that failure to do so would be “catastrophic.”</p><p><blockquote>耶伦和美联储主席鲍威尔周四在众议院金融服务委员会作证。耶伦重申了她对国会提高债务上限的看涨期权，称不这样做将是“灾难性的”。</blockquote></p><p> On the data front,initial jobless claimsfor the prior week came in at 362,000. Economists were expecting a print of 335,000, according to Dow Jones. The October jobs report, which is seen as a key indicator for the Federal Reserve’s next steps, will be released on Oct. 8.</p><p><blockquote>数据方面，上周首次申请失业救济人数为362,000人。据道琼斯称，经济学家预计印刷量为335,000份。被视为美联储下一步行动关键指标的10月就业报告将于10月8日发布。</blockquote></p><p> Here were the main moves in markets as of 4:09 p.m. ET:</p><p><blockquote>以下是截至下午4:09市场的主要走势。ET：</blockquote></p><p></p><p> <ul>  <li><b>S&amp;P 500 (^GSPC)</b>: -51.92 (-1.19%) to 4,307.54</p><p><blockquote><ul><li><b>标普500(^GSPC)</b>：-51.92(-1.19%)至4,307.54</li></ul></blockquote></p><p></li>  <li><b>Dow (^DJI)</b>: -546.80 (-1.59%) to 33,843.92</p><p><blockquote><li><b>道指(^DJI)</b>：-546.80(-1.59%)至33,843.92</li></blockquote></p><p></li>  <li><b>Nasdaq (^IXIC)</b>: -63.86 (-0.44%) to 14,448.58</p><p><blockquote><li><b>纳斯达克(^IXIC)</b>：-63.86(-0.44%)至14,448.58</li></blockquote></p><p></li>  <li><b>Crude (CL=F)</b>: +$0.11 (+0.15%) to $74.94 a barrel</p><p><blockquote><li><b>粗品（CL=F）</b>：每桶+0.11美元(+0.15%)至74.94美元</li></blockquote></p><p></li>  <li><b>Gold (GC=F)</b>: +$33.70 (+1.96%) to $1,756.60 per ounce</p><p><blockquote><li><b>金（GC=F）</b>：每盎司+33.70美元(+1.96%)至1,756.60美元</li></blockquote></p><p></li>  <li><b>10-year Treasury (^TNX)</b>: -1.2 bps to yield 1.5290%</p><p><blockquote><li><b>10年期国债(^TNX)</b>：-1.2个基点，收益率为1.5290%</li></blockquote></p><p></li> </ul> —</p><p><blockquote>—</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks sink in whipsaw session, S&P 500 posts first monthly decline since January<blockquote>股市大幅下跌，标普500自一月份以来首次月度下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks sink in whipsaw session, S&P 500 posts first monthly decline since January<blockquote>股市大幅下跌，标普500自一月份以来首次月度下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-10-01 07:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stocks sank on Thursday in the final session of September and the third quarter, with stocks extending a weeks-long streak of volatility as concerns over inflation, the economic backdrop and debates in Washington over a host of measures weighed on equities.</p><p><blockquote>周四，股市在9月最后一个交易日和第三季度下跌，由于对通胀、经济背景的担忧以及华盛顿对一系列措施的辩论打压股市，股市延续了长达数周的波动。</blockquote></p><p> The S&amp;P 500 ended the day lower by 1.2%. The index fell by more than 4.5% in September for its first monthly decline since January, with concerns around fiscal and monetary policy, inflation, regulations in China and the ongoing pandemic all colliding to knock equities from their upward trajectory. Still, the S&amp;P 500 remained up by about 15% for the year-to-date through Thursday's close.</p><p><blockquote>标普500当天收盘下跌1.2%。该指数9月份下跌超过4.5%，为1月份以来首次月度下跌，对财政和货币政策、通胀、中国监管以及持续的疫情的担忧都将股市从上升轨道上拉了下来。尽管如此，截至周四收盘，标普500今年迄今仍上涨了约15%。</blockquote></p><p> Cyclical stocks, though down during Thursday's session, led the way higher in September as investors bet on higher inflation and rising rates. A jump in crude oil prices helped make the energy sector by far the best performer in the S&amp;P 500. Financial stocks also outperformed, with rising Treasury yields serving as a tailwind to bank profitability.</p><p><blockquote>周期性股票虽然在周四交易中下跌，但由于投资者押注通胀上升和利率上升，9月份领涨。原油价格上涨帮助能源板块成为标普500中迄今为止表现最好的板块。金融股也表现出色，美国国债收益率上升成为银行盈利的推动力。</blockquote></p><p> The Nasdaq has underperformed over the past month as traders rotated away from the growth and technology stocks that pulled the market higher last year. High-flying technology stocks also got hit as Treasury yields jumped over the past week, with the rising borrowing costs weighing on the valuations of growth companies that rely heavily on expectations of strong future earnings.</p><p><blockquote>过去一个月，纳斯达克表现不佳，交易员纷纷远离去年拉动市场走高的成长股和科技股。随着过去一周美国国债收益率飙升，飙升的科技股也受到了打击，借贷成本上升打压了严重依赖未来强劲盈利预期的成长型公司的估值。</blockquote></p><p> “This feels a lot worse than it actually is because we haven’t had much volatility since last October, last September,” Paul Schatz, Heritage Capital President, told Yahoo Finance Live on Wednesday.</p><p><blockquote>Heritage Capital总裁保罗·沙茨(Paul Schatz)周三对雅虎财经直播表示：“这感觉比实际情况要糟糕得多，因为自去年10月、去年9月以来，我们没有出现太大的波动。”</blockquote></p><p> Concerns about inflation and supply chain issues continued to hamper the markets on Thursday.Shares of Bed Bath &amp; Beyond fell 22.1%after the company said those issues hurt the company’s second-quarter results, and the news appeared to hit fellow retail stocks. Walgreens Boots Alliance and Home Depot fell 3.4% and nearly 2.6%, respectively, making them two of the worst performers in the Dow.</p><p><blockquote>对通胀和供应链问题的担忧周四继续阻碍市场。Bed Bath&amp;Beyond表示这些问题损害了公司第二季度业绩，该公司股价下跌22.1%，这一消息似乎打击了其他零售股。Walgreens Boots Alliance和Home Depot分别下跌3.4%和近2.6%，成为道指中表现最差的两家公司。</blockquote></p><p> Energy and financial stocks, which have been some of the best performers in recent weeks, took a step back on Thursday. Shares of Goldman Sachs were 1.7% lower, while JPMorgan was down 1.3%.</p><p><blockquote>最近几周表现最好的能源和金融股周四回落。高盛股价下跌1.7%，摩根大通股价下跌1.3%。</blockquote></p><p> Tech stocks outperformed on Thursday, but the Nasdaq still suffered its fifth-straight losing session. Tech names have been hit by the recent jump in the 10-year Treasury yield, which broke above 1.567% earlier in the week. The measure retreated slightly on Thursday.</p><p><blockquote>科技股周四表现出色，但纳斯达克仍连续第五个交易日下跌。科技股受到近期10年期国债收益率飙升的打击，本周早些时候突破1.567%。该措施周四小幅回落。</blockquote></p><p> Rising yields, fueled by concerns over inflation and the Federal Reserve’s signals that it will soon begin winding down its pandemic-era asset purchases, are seen as a negative for tech stocks because they make far-off future profits look less attractive to investors.</p><p><blockquote>由于对通胀的担忧以及美联储表示将很快开始逐步减少大流行时期的资产购买，收益率上升被视为对科技股不利，因为它们使遥远的未来利润对投资者的吸引力降低。</blockquote></p><p> “We’ve been talking about spooky season — September and October — and the expectation of about a 5% dip from the high. … But we’ve said we don’t expect a correction,” said David Bianco of DWS Group. A correction is typically defined as a pullback of more than 10% from a recent high.</p><p><blockquote>DWS Group的David Bianco表示：“我们一直在谈论9月和10月的怪异季节，以及从高点下跌约5%的预期……但我们已经表示，我们预计不会出现调整。”修正通常被定义为从近期高点回调超过10%。</blockquote></p><p> “We expect yields to climb, and that’s why we’re overweight banks, but we don’t expect yields to surge. And without a surge in yields, we can live with these [valuations],” Bianco added.</p><p><blockquote>Bianco补充道：“我们预计收益率将攀升，这就是为什么我们是跑赢大盘银行，但我们预计收益率不会飙升。如果收益率没有飙升，我们可以接受这些（估值）。”</blockquote></p><p> Shares of Apple and Amazon finished the day in negative territory after moving higher in morning trading. Chip giant Nvidia and Netflix managed to hold on to their gains but closed well off session highs.</p><p><blockquote>苹果和亚马逊的股价在早盘走高后，当天收盘下跌。芯片巨头英伟达和Netflix设法守住了涨幅，但收盘远低于盘中高点。</blockquote></p><p> “We wouldn’t get caught up in any end-of-quarter machinations today and continue to advise fading rallies (especially in tech) as the coming weeks will stay rocky,” wrote Adam Crisafulli of Vital Knowledge.</p><p><blockquote>Vital Knowledge的亚当·克里萨富利(Adam Crisafulli)写道：“我们今天不会陷入任何季末阴谋，并继续建议涨势减弱（尤其是科技股），因为未来几周仍将不稳定。”</blockquote></p><p> September’s losses led to a weak third quarter for the market. For the 3-month period, the Dow dropped 1.9%, while the Nasdaq Composite shed 0.4%. The S&amp;P 500 held on to a modest gain and is still up nearly 15% on the year.</p><p><blockquote>9月份的亏损导致市场第三季度疲软。三个月内，道琼斯指数下跌1.9%，纳斯达克综合指数下跌0.4%。标普500保持小幅上涨，今年仍上涨近15%。</blockquote></p><p> October has a reputation for some violent sell-offs but overall is typically the start of better seasonal performance for stocks. The S&amp;P 500 averages a 0.8% gain for the month, according to the Stock Trader’s Almanac.</p><p><blockquote>十月份因一些暴力抛售而闻名，但总体而言，这通常是股市季节性表现较好的开始。根据股票交易者年鉴，标普500本月平均上涨0.8%。</blockquote></p><p> Investors were also keeping an eye on Washington as Congresspassed a bill that would fund the government through early December. The bill would avert a government shutdown but Congress still has not raised the debt ceiling, which Treasury Secretary Janet Yellen says will be reached on Oct. 18.</p><p><blockquote>随着国会通过一项法案，为政府提供资金直至12月初，投资者也在关注华盛顿。该法案将避免政府关门，但国会仍未提高债务上限，财政部长珍妮特·耶伦表示将于10月18日达到债务上限。</blockquote></p><p> Yellen and Fed Chair Jerome Powell testified before the House Financial Services Committee on Thursday. Yellen reiterated her call for Congress to raise the debt ceiling, saying that failure to do so would be “catastrophic.”</p><p><blockquote>耶伦和美联储主席鲍威尔周四在众议院金融服务委员会作证。耶伦重申了她对国会提高债务上限的看涨期权，称不这样做将是“灾难性的”。</blockquote></p><p> On the data front,initial jobless claimsfor the prior week came in at 362,000. Economists were expecting a print of 335,000, according to Dow Jones. The October jobs report, which is seen as a key indicator for the Federal Reserve’s next steps, will be released on Oct. 8.</p><p><blockquote>数据方面，上周首次申请失业救济人数为362,000人。据道琼斯称，经济学家预计印刷量为335,000份。被视为美联储下一步行动关键指标的10月就业报告将于10月8日发布。</blockquote></p><p> Here were the main moves in markets as of 4:09 p.m. ET:</p><p><blockquote>以下是截至下午4:09市场的主要走势。ET：</blockquote></p><p></p><p> <ul>  <li><b>S&amp;P 500 (^GSPC)</b>: -51.92 (-1.19%) to 4,307.54</p><p><blockquote><ul><li><b>标普500(^GSPC)</b>：-51.92(-1.19%)至4,307.54</li></ul></blockquote></p><p></li>  <li><b>Dow (^DJI)</b>: -546.80 (-1.59%) to 33,843.92</p><p><blockquote><li><b>道指(^DJI)</b>：-546.80(-1.59%)至33,843.92</li></blockquote></p><p></li>  <li><b>Nasdaq (^IXIC)</b>: -63.86 (-0.44%) to 14,448.58</p><p><blockquote><li><b>纳斯达克(^IXIC)</b>：-63.86(-0.44%)至14,448.58</li></blockquote></p><p></li>  <li><b>Crude (CL=F)</b>: +$0.11 (+0.15%) to $74.94 a barrel</p><p><blockquote><li><b>粗品（CL=F）</b>：每桶+0.11美元(+0.15%)至74.94美元</li></blockquote></p><p></li>  <li><b>Gold (GC=F)</b>: +$33.70 (+1.96%) to $1,756.60 per ounce</p><p><blockquote><li><b>金（GC=F）</b>：每盎司+33.70美元(+1.96%)至1,756.60美元</li></blockquote></p><p></li>  <li><b>10-year Treasury (^TNX)</b>: -1.2 bps to yield 1.5290%</p><p><blockquote><li><b>10年期国债(^TNX)</b>：-1.2个基点，收益率为1.5290%</li></blockquote></p><p></li> </ul> —</p><p><blockquote>—</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/stock-market-news-live-updates-september-30-2021-223533367.html\">Yahoo Finance</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://finance.yahoo.com/news/stock-market-news-live-updates-september-30-2021-223533367.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166373612","content_text":"Stocks sank on Thursday in the final session of September and the third quarter, with stocks extending a weeks-long streak of volatility as concerns over inflation, the economic backdrop and debates in Washington over a host of measures weighed on equities.\nThe S&P 500 ended the day lower by 1.2%. The index fell by more than 4.5% in September for its first monthly decline since January, with concerns around fiscal and monetary policy, inflation, regulations in China and the ongoing pandemic all colliding to knock equities from their upward trajectory. Still, the S&P 500 remained up by about 15% for the year-to-date through Thursday's close.\nCyclical stocks, though down during Thursday's session, led the way higher in September as investors bet on higher inflation and rising rates. A jump in crude oil prices helped make the energy sector by far the best performer in the S&P 500. Financial stocks also outperformed, with rising Treasury yields serving as a tailwind to bank profitability.\nThe Nasdaq has underperformed over the past month as traders rotated away from the growth and technology stocks that pulled the market higher last year. High-flying technology stocks also got hit as Treasury yields jumped over the past week, with the rising borrowing costs weighing on the valuations of growth companies that rely heavily on expectations of strong future earnings.\n“This feels a lot worse than it actually is because we haven’t had much volatility since last October, last September,” Paul Schatz, Heritage Capital President, told Yahoo Finance Live on Wednesday.\nConcerns about inflation and supply chain issues continued to hamper the markets on Thursday.Shares of Bed Bath & Beyond fell 22.1%after the company said those issues hurt the company’s second-quarter results, and the news appeared to hit fellow retail stocks. Walgreens Boots Alliance and Home Depot fell 3.4% and nearly 2.6%, respectively, making them two of the worst performers in the Dow.\nEnergy and financial stocks, which have been some of the best performers in recent weeks, took a step back on Thursday. Shares of Goldman Sachs were 1.7% lower, while JPMorgan was down 1.3%.\nTech stocks outperformed on Thursday, but the Nasdaq still suffered its fifth-straight losing session. Tech names have been hit by the recent jump in the 10-year Treasury yield, which broke above 1.567% earlier in the week. The measure retreated slightly on Thursday.\nRising yields, fueled by concerns over inflation and the Federal Reserve’s signals that it will soon begin winding down its pandemic-era asset purchases, are seen as a negative for tech stocks because they make far-off future profits look less attractive to investors.\n“We’ve been talking about spooky season — September and October — and the expectation of about a 5% dip from the high. … But we’ve said we don’t expect a correction,” said David Bianco of DWS Group. A correction is typically defined as a pullback of more than 10% from a recent high.\n“We expect yields to climb, and that’s why we’re overweight banks, but we don’t expect yields to surge. And without a surge in yields, we can live with these [valuations],” Bianco added.\nShares of Apple and Amazon finished the day in negative territory after moving higher in morning trading. Chip giant Nvidia and Netflix managed to hold on to their gains but closed well off session highs.\n“We wouldn’t get caught up in any end-of-quarter machinations today and continue to advise fading rallies (especially in tech) as the coming weeks will stay rocky,” wrote Adam Crisafulli of Vital Knowledge.\nSeptember’s losses led to a weak third quarter for the market. For the 3-month period, the Dow dropped 1.9%, while the Nasdaq Composite shed 0.4%. The S&P 500 held on to a modest gain and is still up nearly 15% on the year.\nOctober has a reputation for some violent sell-offs but overall is typically the start of better seasonal performance for stocks. The S&P 500 averages a 0.8% gain for the month, according to the Stock Trader’s Almanac.\nInvestors were also keeping an eye on Washington as Congresspassed a bill that would fund the government through early December. The bill would avert a government shutdown but Congress still has not raised the debt ceiling, which Treasury Secretary Janet Yellen says will be reached on Oct. 18.\nYellen and Fed Chair Jerome Powell testified before the House Financial Services Committee on Thursday. Yellen reiterated her call for Congress to raise the debt ceiling, saying that failure to do so would be “catastrophic.”\nOn the data front,initial jobless claimsfor the prior week came in at 362,000. Economists were expecting a print of 335,000, according to Dow Jones. The October jobs report, which is seen as a key indicator for the Federal Reserve’s next steps, will be released on Oct. 8.\nHere were the main moves in markets as of 4:09 p.m. ET:\n\nS&P 500 (^GSPC): -51.92 (-1.19%) to 4,307.54\nDow (^DJI): -546.80 (-1.59%) to 33,843.92\nNasdaq (^IXIC): -63.86 (-0.44%) to 14,448.58\nCrude (CL=F): +$0.11 (+0.15%) to $74.94 a barrel\nGold (GC=F): +$33.70 (+1.96%) to $1,756.60 per ounce\n10-year Treasury (^TNX): -1.2 bps to yield 1.5290%\n\n—","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":678,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":864128354,"gmtCreate":1633076225719,"gmtModify":1633076236064,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>START AGAIN","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>START AGAIN","text":"$Palantir Technologies Inc.(PLTR)$START AGAIN","images":[{"img":"https://static.tigerbbs.com/d966669d5ec2e8b6575bbcd085df41e5","width":"750","height":"1174"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/864128354","isVote":1,"tweetType":1,"viewCount":876,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":864960128,"gmtCreate":1633049519382,"gmtModify":1633049519854,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/864960128","repostId":"1194635458","repostType":4,"isVote":1,"tweetType":1,"viewCount":949,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866460725,"gmtCreate":1632797239167,"gmtModify":1632797565444,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"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/866460725","repostId":"2170624172","repostType":4,"isVote":1,"tweetType":1,"viewCount":588,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868616711,"gmtCreate":1632638444133,"gmtModify":1632647380378,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>DONT PAPER HANDS. 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BTFD","images":[{"img":"https://static.tigerbbs.com/6e3757580bca56a32c0aad8af0449e59","width":"750","height":"1174"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868616711","isVote":1,"tweetType":1,"viewCount":797,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":869569277,"gmtCreate":1632304769599,"gmtModify":1632801380835,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/869569277","repostId":"1135042460","repostType":4,"isVote":1,"tweetType":1,"viewCount":581,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860020860,"gmtCreate":1632109001950,"gmtModify":1632802774611,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/860020860","repostId":"1147800593","repostType":4,"repost":{"id":"1147800593","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":1632106802,"share":"https://www.laohu8.com/m/news/1147800593?lang=zh_CN&edition=full","pubTime":"2021-09-20 11:00","market":"us","language":"en","title":"Asia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港跌至11个月低点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147800593","media":"Tiger Newspress","summary":"Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a doze","content":"<p>Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.</p><p><blockquote>周一，亚洲股市下跌，美元坚挺，本周将举行不少于十几次央行会议，美联储可能会向缩减购债规模迈出另一步。</blockquote></p><p> Holidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.</p><p><blockquote>日本、中国和韩国的假期导致情况不佳，而加拿大和德国的选举也在本周结束，政治增加了额外的不确定性。</blockquote></p><p> The&nbsp;stocks in Hong Kong&nbsp;skidded more than 4% to their lowest in almost 11 months.</p><p><blockquote>香港股市下跌逾4%，至近11个月来的最低水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a42d1a9edab746e9add26971d833b8f7\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> MSCI's broadest index of Asia-Pacific shares outside Japan&nbsp;slid another 1.4%, after shedding 2.5% last week, with Australia&nbsp;down 1.5%.</p><p><blockquote>摩根士丹利资本国际（MSCI）除日本以外最广泛的亚太股票指数继上周下跌2.5%后又下跌1.4%，其中澳大利亚下跌1.5%。</blockquote></p><p> Japan's Nikkei&nbsp;was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.</p><p><blockquote>日本日经指数休市，但期货价格比周五收盘价低400点。由于希望新总理将带来更多刺激和政策变化，市场在飙升至30年高点后可能需要盘整。</blockquote></p><p> Nasdaq futures eased 0.5% and S&amp;P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.</p><p><blockquote>纳斯达克期货下跌0.5%，标普500期货下跌0.3%，在美国消费者信心数据令人失望后，华尔街上周收盘疲软。</blockquote></p><p> The Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.</p><p><blockquote>预计美联储仍将在周二和周三的政策会议上为缩减规模奠定基础，尽管共识是实际宣布将推迟到11月或12月的会议。</blockquote></p><p> Yields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.</p><p><blockquote>10年期国债收益率触及两个月高点，曲线在会议前趋于平坦。</blockquote></p><p> \"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.</p><p><blockquote>NAB经济主管塔帕斯·斯特里克兰(Tapas Strickland)警告称：“收益率曲线趋平表明，一些人担心美联储可能会过度延长最终的加息周期。”</blockquote></p><p> He noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.</p><p><blockquote>他指出，鉴于18位成员中有7位已经暗示明年加息，只有2-3位FOMC成员需要改变他们对2022年加息的“点阵图”预测，使其达到中位数。</blockquote></p><p> \"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"</p><p><blockquote>“美联储还将制定2024年的dots，这将表明潜在加息周期的陡度。”</blockquote></p><p> The market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.</p><p><blockquote>市场普遍认为2023年加息两次，2024年加息四次，长期联邦基金利率为2.125%。</blockquote></p><p> Central banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.</p><p><blockquote>欧盟、日本、英国、瑞士、瑞典、挪威、印度尼西亚、菲律宾、巴西、南非、土耳其和匈牙利的央行本周都有会议。</blockquote></p><p> The Norges Bank is expected to be the first in the G10 to raise interest rates.</p><p><blockquote>预计挪威央行将在G10中率先加息。</blockquote></p><p> Higher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.</p><p><blockquote>美国收益率上升加上普遍的避险情绪有利于美元，美元兑一篮子货币升至接近一个月高点93.303。</blockquote></p><p> It was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.</p><p><blockquote>日元兑美元汇率在109.96区间波动，而欧元兑美元汇率接近三周低点1.1717美元，部分原因是本周末德国大选前的不确定性。</blockquote></p><p> Canada goes to the polls on Monday with the race too close to call.</p><p><blockquote>加拿大将于周一进行投票，与看涨期权的竞争过于激烈。</blockquote></p><p> The firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.</p><p><blockquote>美元走强打压金价，金价在上周下跌1.9%后，报每盎司1,749美元。</blockquote></p><p> Oil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.</p><p><blockquote>美国墨西哥湾的能源公司在该地区连续发生飓风导致产量关闭后重启生产，油价有所回落。</blockquote></p><p> Brent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.</p><p><blockquote>布伦特原油下跌54美分，至每桶74.80美元，美国原油下跌57美分，至每桶71.40美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAsia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港跌至11个月低点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-20 11:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.</p><p><blockquote>周一，亚洲股市下跌，美元坚挺，本周将举行不少于十几次央行会议，美联储可能会向缩减购债规模迈出另一步。</blockquote></p><p> Holidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.</p><p><blockquote>日本、中国和韩国的假期导致情况不佳，而加拿大和德国的选举也在本周结束，政治增加了额外的不确定性。</blockquote></p><p> The&nbsp;stocks in Hong Kong&nbsp;skidded more than 4% to their lowest in almost 11 months.</p><p><blockquote>香港股市下跌逾4%，至近11个月来的最低水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a42d1a9edab746e9add26971d833b8f7\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> MSCI's broadest index of Asia-Pacific shares outside Japan&nbsp;slid another 1.4%, after shedding 2.5% last week, with Australia&nbsp;down 1.5%.</p><p><blockquote>摩根士丹利资本国际（MSCI）除日本以外最广泛的亚太股票指数继上周下跌2.5%后又下跌1.4%，其中澳大利亚下跌1.5%。</blockquote></p><p> Japan's Nikkei&nbsp;was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.</p><p><blockquote>日本日经指数休市，但期货价格比周五收盘价低400点。由于希望新总理将带来更多刺激和政策变化，市场在飙升至30年高点后可能需要盘整。</blockquote></p><p> Nasdaq futures eased 0.5% and S&amp;P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.</p><p><blockquote>纳斯达克期货下跌0.5%，标普500期货下跌0.3%，在美国消费者信心数据令人失望后，华尔街上周收盘疲软。</blockquote></p><p> The Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.</p><p><blockquote>预计美联储仍将在周二和周三的政策会议上为缩减规模奠定基础，尽管共识是实际宣布将推迟到11月或12月的会议。</blockquote></p><p> Yields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.</p><p><blockquote>10年期国债收益率触及两个月高点，曲线在会议前趋于平坦。</blockquote></p><p> \"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.</p><p><blockquote>NAB经济主管塔帕斯·斯特里克兰(Tapas Strickland)警告称：“收益率曲线趋平表明，一些人担心美联储可能会过度延长最终的加息周期。”</blockquote></p><p> He noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.</p><p><blockquote>他指出，鉴于18位成员中有7位已经暗示明年加息，只有2-3位FOMC成员需要改变他们对2022年加息的“点阵图”预测，使其达到中位数。</blockquote></p><p> \"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"</p><p><blockquote>“美联储还将制定2024年的dots，这将表明潜在加息周期的陡度。”</blockquote></p><p> The market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.</p><p><blockquote>市场普遍认为2023年加息两次，2024年加息四次，长期联邦基金利率为2.125%。</blockquote></p><p> Central banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.</p><p><blockquote>欧盟、日本、英国、瑞士、瑞典、挪威、印度尼西亚、菲律宾、巴西、南非、土耳其和匈牙利的央行本周都有会议。</blockquote></p><p> The Norges Bank is expected to be the first in the G10 to raise interest rates.</p><p><blockquote>预计挪威央行将在G10中率先加息。</blockquote></p><p> Higher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.</p><p><blockquote>美国收益率上升加上普遍的避险情绪有利于美元，美元兑一篮子货币升至接近一个月高点93.303。</blockquote></p><p> It was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.</p><p><blockquote>日元兑美元汇率在109.96区间波动，而欧元兑美元汇率接近三周低点1.1717美元，部分原因是本周末德国大选前的不确定性。</blockquote></p><p> Canada goes to the polls on Monday with the race too close to call.</p><p><blockquote>加拿大将于周一进行投票，与看涨期权的竞争过于激烈。</blockquote></p><p> The firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.</p><p><blockquote>美元走强打压金价，金价在上周下跌1.9%后，报每盎司1,749美元。</blockquote></p><p> Oil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.</p><p><blockquote>美国墨西哥湾的能源公司在该地区连续发生飓风导致产量关闭后重启生产，油价有所回落。</blockquote></p><p> Brent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.</p><p><blockquote>布伦特原油下跌54美分，至每桶74.80美元，美国原油下跌57美分，至每桶71.40美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSCEI":"国企指数","HSTECH":"恒生科技指数","HSCCI":"红筹指数","HSI":"恒生指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147800593","content_text":"Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.\nHolidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.\nThe stocks in Hong Kong skidded more than 4% to their lowest in almost 11 months.\n\nMSCI's broadest index of Asia-Pacific shares outside Japan slid another 1.4%, after shedding 2.5% last week, with Australia down 1.5%.\nJapan's Nikkei was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.\nNasdaq futures eased 0.5% and S&P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.\nThe Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.\nYields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.\n\"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.\nHe noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.\n\"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"\nThe market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.\nCentral banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.\nThe Norges Bank is expected to be the first in the G10 to raise interest rates.\nHigher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.\nIt was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.\nCanada goes to the polls on Monday with the race too close to call.\nThe firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.\nOil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.\nBrent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.","news_type":1,"symbols_score_info":{"HSCCI":0.9,"HSTECH":0.9,"HSI":0.9,"HSCEI":0.9}},"isVote":1,"tweetType":1,"viewCount":497,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884941662,"gmtCreate":1631850342356,"gmtModify":1631890256627,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"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/884941662","repostId":"1168707929","repostType":4,"repost":{"id":"1168707929","kind":"news","pubTimestamp":1631802521,"share":"https://www.laohu8.com/m/news/1168707929?lang=zh_CN&edition=full","pubTime":"2021-09-16 22:28","market":"us","language":"en","title":"Amazon Is Doing It. So Is Walmart. Why Retail Loves ‘Buy Now, Pay Later.’<blockquote>亚马逊正在做。沃尔玛也是。为什么零售业喜欢“先买后付”。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1168707929","media":"The Wall Street Journal","summary":"Retailers big and small are using installment plans to wring more sales out of shoppers who can’t ge","content":"<p>Retailers big and small are using installment plans to wring more sales out of shoppers who can’t get credit cards</p><p><blockquote>大大小小的零售商正在利用分期付款计划从无法获得信用卡的购物者那里榨取更多销售额</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/108a4007d95b3e93e4d3fe6d678d8339\" tg-width=\"1290\" tg-height=\"859\" width=\"100%\" height=\"auto\"><span>Shoppers spend more at Macy’s when they use installment plans offered through Klarna Bank, Macy’s CEO Jeff Gennette said on a recent earnings call.</span></p><p><blockquote><p class=\"t-img-caption\"><span>梅西百货首席执行官杰夫·根内特(Jeff Gennette)在最近的财报看涨期权上表示，当购物者使用克拉纳银行提供的分期付款计划时，他们会在梅西百货花费更多。</span></p></blockquote></p><p> Alexis Luedtke got her first “buy now, pay later” plan in 2019 after she was rejected for a credit card. She has used at least five more since to buy face cream, T-shirts and birthday gifts.</p><p><blockquote>Alexis Luedtke在信用卡被拒绝后，于2019年获得了她的第一个“先买后付”计划。从那以后，她至少又用了五次钱来买面霜、T恤和生日礼物。</blockquote></p><p> Installment plans are back&nbsp;in style.PayPal Holdings&nbsp;Inc.&nbsp;last week&nbsp;said it was buying Japanese installment payment startup&nbsp;Paidy Inc., following Square Inc.’s&nbsp;$29 billion deal&nbsp;for&nbsp;Afterpay&nbsp;Ltd.Macy’s&nbsp;Inc.&nbsp;and&nbsp;Bed Bath &amp; Beyond&nbsp;Inc.&nbsp;have added the option at checkout over the past year. Even&nbsp;Amazon.com&nbsp;Inc.&nbsp;is doing it.</p><p><blockquote>分期付款计划又重新流行起来。继Square Inc.以290亿美元收购Afterpay Ltd.之后，PayPal Holdings Inc.上周表示，将收购日本分期付款初创公司Paidy Inc.。梅西百货(Macy's Inc.)和贝德柏士比昂公司(Bed Bath&amp;Beyond Inc.)增加了过去一年结账时的选项。甚至亚马逊。com Inc.也在这么做。</blockquote></p><p> One reason: shoppers like Ms. Luedtke who don’t qualify for credit cards. Buy-now-pay-later companies say they rely less on—and in some cases bypass altogether—traditional credit scores and reports. Doing so allows them to approve more consumers. Shoppers gain the ability to buy things even without cash on hand—translating to higher sales for retailers.</p><p><blockquote>一个原因是：像Luedtke女士这样没有资格使用信用卡的购物者。先买后付的公司表示，他们较少依赖传统的信用评分和报告，在某些情况下甚至完全绕过传统的信用评分和报告。这样做可以让他们认可更多的消费者。购物者即使手头没有现金也能买到东西——这转化为零售商更高的销售额。</blockquote></p><p> Afterpay said it expects the company’s U.S. merchants will see an $8.2 billion increase in sales this year because of payment plans.Affirm Holdings&nbsp;Inc.&nbsp;last year said purchases made with its payment plans were 85% larger, on average.</p><p><blockquote>Afterpay表示，由于付款计划，预计该公司的美国商家今年的销售额将增加82亿美元。Affirm Holdings Inc.去年表示，通过其付款计划进行的购买量平均增加了85%。</blockquote></p><p> Shoppers spend more at Macy’s when they use installment plans offered through Klarna Bank AB, Macy’s CEO Jeff Gennette said on a recent earnings call. Klarna also is helping the retailer attract younger customers, he said.</p><p><blockquote>梅西百货首席执行官杰夫·根内特(Jeff Gennette)在最近的财报看涨期权上表示，当购物者使用Klarna Bank AB提供的分期付款计划时，他们会在梅西百货花费更多。他说，Klarna还在帮助零售商吸引年轻顾客。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/40620bab35c446816da175fb2334c05e\" tg-width=\"435\" tg-height=\"562\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> “The value that most retailers see in buy now, pay later is customer acquisition,” said David Sykes, Klarna’s North America head.</p><p><blockquote>Klarna北美负责人David Sykes表示：“大多数零售商认为先买后付的价值是获取客户。”</blockquote></p><p> Ms. Luedtke, 26, has credit cards now but still prefers installment plans. Just last month, she used them to buy about $40 of Peter Thomas Roth skin-care products and $65 in clothing from Shein.</p><p><blockquote>26岁的Luedtke女士现在有信用卡，但仍然更喜欢分期付款计划。就在上个月，她用它们从Shein购买了约40美元的Peter Thomas Roth护肤品和65美元的服装。</blockquote></p><p> “It definitely influences how much more I buy or would spend,” she said. “It’s easier to pay $200 over so many weeks compared to $200 right now.”</p><p><blockquote>“这肯定会影响我购买或花费的金额，”她说。“与现在的200美元相比，在这么多周内支付200美元更容易。”</blockquote></p><p> Buy now, pay later is a new twist on an old idea. Big retailers have for decades offered installment plans for big-ticket items like washing machines. Today, these plans come in a variety of flavors. Afterpay offers payment plans that shoppers usually attach to their debit cards. Others, like Affirm, also facilitate new loans.</p><p><blockquote>先买后付是对旧观念的新转变。几十年来，大型零售商一直为洗衣机等大件商品提供分期付款计划。如今，这些计划有多种形式。Afterpay提供购物者通常将其附加到借记卡上的付款计划。Affirm等其他公司也为新贷款提供便利。</blockquote></p><p> Interest rates and other terms vary by payment-plan provider. Affirm interest rates range from 0% to 30%, with some 43% of its transactions during its last fiscal year not charging interest at all. The company doesn’t charge late fees. Afterpay doesn’t charge interest but does collect late fees.</p><p><blockquote>利率和其他条款因付款计划提供商而异。Affirm的利率范围为0%至30%，上一财年约43%的交易根本不收取利息。公司不收取滞纳金。Afterpay不收取利息，但收取滞纳金。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/223a1da79b30869fc443b06f41a959eb\" tg-width=\"441\" tg-height=\"556\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Merchants take no credit risk with these plans, but the fees they incur can be higher than on credit-card purchases—often between 3% and 5% of the purchase price, according to people familiar with the matter.</p><p><blockquote>据知情人士透露，商家通过这些计划不承担信用风险，但他们产生的费用可能高于信用卡购物——通常在购买价格的3%至5%之间。</blockquote></p><p> Buy-now-pay-later companies say they can approve more customers than banks, including people who have thin or no borrowing history. Some 53 million adults in the U.S. lack traditional credit scores, according to FICO score creator&nbsp;Fair Isaac&nbsp;Corp.Installment plans are safer, they say, because they are often smaller than credit-card spending limits and approved on a per-transaction basis.</p><p><blockquote>先买后付的公司表示，他们可以批准比银行更多的客户，包括没有借贷历史或没有借贷历史的人。根据FICO评分创建者Fair Isaac Corp.的数据，美国约有5300万成年人缺乏传统信用评分。他们表示，分期付款计划更安全，因为它们通常小于信用卡支出限额，并且按每笔交易获得批准。</blockquote></p><p> Affirm said that it had a net charge-off rate of 1% in the quarter ended June 30, down from 2% a year earlier. Afterpay said it wrote off 0.6% of the total dollars it processed in payments during the company’s fiscal year ended June 30, up from 0.4% the year prior.</p><p><blockquote>Affirm表示，截至6月30日的季度净冲销率为1%，低于去年同期的2%。Afterpay表示，在截至6月30日的财年中，该公司注销了其处理的支付总额的0.6%，高于上年的0.4%。</blockquote></p><p> Working with a web of retailers, buy-now-pay-later companies can create self-contained payment ecosystems. They factor payment behavior into future underwriting decisions. Customers who pay late or not at all risk losing the installment option at other participating retailers.</p><p><blockquote>通过与零售商网络合作，先买后付的公司可以创建独立的支付生态系统。他们将支付行为纳入未来的承保决策中。延迟付款或根本不付款的客户可能会失去其他参与零售商的分期付款选项。</blockquote></p><p> “Most merchants want a partner who has real advantage and real ability to underwrite,” said Affirm CEO Max Levchin. “These are not deeper approvals, but they are different approvals.”</p><p><blockquote>Affirm首席执行官Max Levchin表示：“大多数商家都想要一个拥有真正优势和真正承保能力的合作伙伴。”“这些不是更深层次的审批，而是不同的审批。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f0a5ab7e1c7d6de154b68c230f13b49\" tg-width=\"1050\" tg-height=\"700\" width=\"100%\" height=\"auto\"><span>Affirm facilitates new loans among other payment plans.</span></p><p><blockquote><p class=\"t-img-caption\"><span>Affirm在其他付款计划中促进新贷款。</span></p></blockquote></p><p></p><p> Amazon&nbsp;and&nbsp;Walmart&nbsp;Inc.&nbsp;are both working with Affirm. Both have said they want their financial partners to extend credit to more of their customers.</p><p><blockquote>亚马逊和沃尔玛公司都在与Affirm合作。两家公司都表示，他们希望金融合作伙伴向更多客户提供信贷。</blockquote></p><p> Amazon is reviewing proposals, as it weighs whether to replace its longtime card issuer, JPMorgan Chase &amp; Co. Amazon is looking for “commitments to underwrite competitively to widen the acquisition funnel,” the retailer said in a request for proposals reviewed by The Wall Street Journal.</p><p><blockquote>亚马逊正在审查提案，因为它正在权衡是否取代其长期发卡机构摩根大通公司。该零售商在《华尔街日报》审查的提案请求中表示，亚马逊正在寻求“有竞争力的承销承诺，以扩大收购漏斗”。</blockquote></p><p> A desire to boost loan approvals was among the reasons Walmart in 2018 decided to end its decadeslong credit-card partnership with&nbsp;Synchrony Financial.(Capital One Financial Corp. now issues Walmart-branded credit cards.) The retailer made Affirm loans available to most of its customers the following year.</p><p><blockquote>提高贷款审批的愿望是沃尔玛在2018年决定结束与Synchrony Financial长达数十年的信用卡合作伙伴关系的原因之一。（第一资本金融公司现在发行沃尔玛品牌的信用卡。）该零售商向大多数人提供了Affirm贷款次年其客户。</blockquote></p><p> “Our goal is financial inclusion for all,” said Julia Unger, Walmart’s vice president of financial services.</p><p><blockquote>“我们的目标是全民金融普惠，”沃尔玛金融服务副总裁朱莉娅·昂格尔(Julia Unger)表示。</blockquote></p><p> Some banks now offer installment options on their credit cards.Citigroup&nbsp;Inc.&nbsp;saw a sevenfold increase in the dollar amount of credit-card purchases converted to installment loans in July, compared with the same month a year prior, said Gonzalo Luchetti, head of Citigroup’s U.S. consumer bank.</p><p><blockquote>一些银行现在在信用卡上提供分期付款选项。花旗集团美国消费者银行主管贡萨洛·卢凯蒂(Gonzalo Luchetti)表示，与去年同期相比，花旗集团7月份转换为分期贷款的信用卡购买金额增加了7倍。</blockquote></p><p> Synchrony, the largest U.S. store-credit-card issuer, will launch a buy-now, pay-later plan in October. Capital One will test out its own offering later this year, CEO Richard Fairbank said at a conference Monday.</p><p><blockquote>美国最大的商店信用卡发行商Synchrony将于10月推出先买后付计划。第一资本首席执行官理查德·费尔班克(Richard Fairbank)在周一的一次会议上表示，第一资本将在今年晚些时候测试自己的产品。</blockquote></p><p> Wells Fargo &amp; Co. and&nbsp;Bank of America&nbsp;Corp.&nbsp;are exploring adding installment plans on their credit cards, according to people familiar with the matter.Visa&nbsp;Inc.&nbsp;said it has been testing out ways for shoppers to check if they qualify for installment plans when they enter their card numbers at checkout.</p><p><blockquote>据知情人士透露，富国银行(Wells Fargo&amp;Co.)和美国银行(Bank of America Corp.)正在探索在其信用卡上增加分期付款计划。Visa Inc.表示，该公司一直在测试如何让购物者在结账时输入卡号时检查自己是否有资格享受分期付款计划。</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>Amazon Is Doing It. So Is Walmart. Why Retail Loves ‘Buy Now, Pay Later.’<blockquote>亚马逊正在做。沃尔玛也是。为什么零售业喜欢“先买后付”。</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\">\nAmazon Is Doing It. So Is Walmart. Why Retail Loves ‘Buy Now, Pay Later.’<blockquote>亚马逊正在做。沃尔玛也是。为什么零售业喜欢“先买后付”。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-09-16 22:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Retailers big and small are using installment plans to wring more sales out of shoppers who can’t get credit cards</p><p><blockquote>大大小小的零售商正在利用分期付款计划从无法获得信用卡的购物者那里榨取更多销售额</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/108a4007d95b3e93e4d3fe6d678d8339\" tg-width=\"1290\" tg-height=\"859\" width=\"100%\" height=\"auto\"><span>Shoppers spend more at Macy’s when they use installment plans offered through Klarna Bank, Macy’s CEO Jeff Gennette said on a recent earnings call.</span></p><p><blockquote><p class=\"t-img-caption\"><span>梅西百货首席执行官杰夫·根内特(Jeff Gennette)在最近的财报看涨期权上表示，当购物者使用克拉纳银行提供的分期付款计划时，他们会在梅西百货花费更多。</span></p></blockquote></p><p> Alexis Luedtke got her first “buy now, pay later” plan in 2019 after she was rejected for a credit card. She has used at least five more since to buy face cream, T-shirts and birthday gifts.</p><p><blockquote>Alexis Luedtke在信用卡被拒绝后，于2019年获得了她的第一个“先买后付”计划。从那以后，她至少又用了五次钱来买面霜、T恤和生日礼物。</blockquote></p><p> Installment plans are back&nbsp;in style.PayPal Holdings&nbsp;Inc.&nbsp;last week&nbsp;said it was buying Japanese installment payment startup&nbsp;Paidy Inc., following Square Inc.’s&nbsp;$29 billion deal&nbsp;for&nbsp;Afterpay&nbsp;Ltd.Macy’s&nbsp;Inc.&nbsp;and&nbsp;Bed Bath &amp; Beyond&nbsp;Inc.&nbsp;have added the option at checkout over the past year. Even&nbsp;Amazon.com&nbsp;Inc.&nbsp;is doing it.</p><p><blockquote>分期付款计划又重新流行起来。继Square Inc.以290亿美元收购Afterpay Ltd.之后，PayPal Holdings Inc.上周表示，将收购日本分期付款初创公司Paidy Inc.。梅西百货(Macy's Inc.)和贝德柏士比昂公司(Bed Bath&amp;Beyond Inc.)增加了过去一年结账时的选项。甚至亚马逊。com Inc.也在这么做。</blockquote></p><p> One reason: shoppers like Ms. Luedtke who don’t qualify for credit cards. Buy-now-pay-later companies say they rely less on—and in some cases bypass altogether—traditional credit scores and reports. Doing so allows them to approve more consumers. Shoppers gain the ability to buy things even without cash on hand—translating to higher sales for retailers.</p><p><blockquote>一个原因是：像Luedtke女士这样没有资格使用信用卡的购物者。先买后付的公司表示，他们较少依赖传统的信用评分和报告，在某些情况下甚至完全绕过传统的信用评分和报告。这样做可以让他们认可更多的消费者。购物者即使手头没有现金也能买到东西——这转化为零售商更高的销售额。</blockquote></p><p> Afterpay said it expects the company’s U.S. merchants will see an $8.2 billion increase in sales this year because of payment plans.Affirm Holdings&nbsp;Inc.&nbsp;last year said purchases made with its payment plans were 85% larger, on average.</p><p><blockquote>Afterpay表示，由于付款计划，预计该公司的美国商家今年的销售额将增加82亿美元。Affirm Holdings Inc.去年表示，通过其付款计划进行的购买量平均增加了85%。</blockquote></p><p> Shoppers spend more at Macy’s when they use installment plans offered through Klarna Bank AB, Macy’s CEO Jeff Gennette said on a recent earnings call. Klarna also is helping the retailer attract younger customers, he said.</p><p><blockquote>梅西百货首席执行官杰夫·根内特(Jeff Gennette)在最近的财报看涨期权上表示，当购物者使用Klarna Bank AB提供的分期付款计划时，他们会在梅西百货花费更多。他说，Klarna还在帮助零售商吸引年轻顾客。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/40620bab35c446816da175fb2334c05e\" tg-width=\"435\" tg-height=\"562\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> “The value that most retailers see in buy now, pay later is customer acquisition,” said David Sykes, Klarna’s North America head.</p><p><blockquote>Klarna北美负责人David Sykes表示：“大多数零售商认为先买后付的价值是获取客户。”</blockquote></p><p> Ms. Luedtke, 26, has credit cards now but still prefers installment plans. Just last month, she used them to buy about $40 of Peter Thomas Roth skin-care products and $65 in clothing from Shein.</p><p><blockquote>26岁的Luedtke女士现在有信用卡，但仍然更喜欢分期付款计划。就在上个月，她用它们从Shein购买了约40美元的Peter Thomas Roth护肤品和65美元的服装。</blockquote></p><p> “It definitely influences how much more I buy or would spend,” she said. “It’s easier to pay $200 over so many weeks compared to $200 right now.”</p><p><blockquote>“这肯定会影响我购买或花费的金额，”她说。“与现在的200美元相比，在这么多周内支付200美元更容易。”</blockquote></p><p> Buy now, pay later is a new twist on an old idea. Big retailers have for decades offered installment plans for big-ticket items like washing machines. Today, these plans come in a variety of flavors. Afterpay offers payment plans that shoppers usually attach to their debit cards. Others, like Affirm, also facilitate new loans.</p><p><blockquote>先买后付是对旧观念的新转变。几十年来，大型零售商一直为洗衣机等大件商品提供分期付款计划。如今，这些计划有多种形式。Afterpay提供购物者通常将其附加到借记卡上的付款计划。Affirm等其他公司也为新贷款提供便利。</blockquote></p><p> Interest rates and other terms vary by payment-plan provider. Affirm interest rates range from 0% to 30%, with some 43% of its transactions during its last fiscal year not charging interest at all. The company doesn’t charge late fees. Afterpay doesn’t charge interest but does collect late fees.</p><p><blockquote>利率和其他条款因付款计划提供商而异。Affirm的利率范围为0%至30%，上一财年约43%的交易根本不收取利息。公司不收取滞纳金。Afterpay不收取利息，但收取滞纳金。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/223a1da79b30869fc443b06f41a959eb\" tg-width=\"441\" tg-height=\"556\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Merchants take no credit risk with these plans, but the fees they incur can be higher than on credit-card purchases—often between 3% and 5% of the purchase price, according to people familiar with the matter.</p><p><blockquote>据知情人士透露，商家通过这些计划不承担信用风险，但他们产生的费用可能高于信用卡购物——通常在购买价格的3%至5%之间。</blockquote></p><p> Buy-now-pay-later companies say they can approve more customers than banks, including people who have thin or no borrowing history. Some 53 million adults in the U.S. lack traditional credit scores, according to FICO score creator&nbsp;Fair Isaac&nbsp;Corp.Installment plans are safer, they say, because they are often smaller than credit-card spending limits and approved on a per-transaction basis.</p><p><blockquote>先买后付的公司表示，他们可以批准比银行更多的客户，包括没有借贷历史或没有借贷历史的人。根据FICO评分创建者Fair Isaac Corp.的数据，美国约有5300万成年人缺乏传统信用评分。他们表示，分期付款计划更安全，因为它们通常小于信用卡支出限额，并且按每笔交易获得批准。</blockquote></p><p> Affirm said that it had a net charge-off rate of 1% in the quarter ended June 30, down from 2% a year earlier. Afterpay said it wrote off 0.6% of the total dollars it processed in payments during the company’s fiscal year ended June 30, up from 0.4% the year prior.</p><p><blockquote>Affirm表示，截至6月30日的季度净冲销率为1%，低于去年同期的2%。Afterpay表示，在截至6月30日的财年中，该公司注销了其处理的支付总额的0.6%，高于上年的0.4%。</blockquote></p><p> Working with a web of retailers, buy-now-pay-later companies can create self-contained payment ecosystems. They factor payment behavior into future underwriting decisions. Customers who pay late or not at all risk losing the installment option at other participating retailers.</p><p><blockquote>通过与零售商网络合作，先买后付的公司可以创建独立的支付生态系统。他们将支付行为纳入未来的承保决策中。延迟付款或根本不付款的客户可能会失去其他参与零售商的分期付款选项。</blockquote></p><p> “Most merchants want a partner who has real advantage and real ability to underwrite,” said Affirm CEO Max Levchin. “These are not deeper approvals, but they are different approvals.”</p><p><blockquote>Affirm首席执行官Max Levchin表示：“大多数商家都想要一个拥有真正优势和真正承保能力的合作伙伴。”“这些不是更深层次的审批，而是不同的审批。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f0a5ab7e1c7d6de154b68c230f13b49\" tg-width=\"1050\" tg-height=\"700\" width=\"100%\" height=\"auto\"><span>Affirm facilitates new loans among other payment plans.</span></p><p><blockquote><p class=\"t-img-caption\"><span>Affirm在其他付款计划中促进新贷款。</span></p></blockquote></p><p></p><p> Amazon&nbsp;and&nbsp;Walmart&nbsp;Inc.&nbsp;are both working with Affirm. Both have said they want their financial partners to extend credit to more of their customers.</p><p><blockquote>亚马逊和沃尔玛公司都在与Affirm合作。两家公司都表示，他们希望金融合作伙伴向更多客户提供信贷。</blockquote></p><p> Amazon is reviewing proposals, as it weighs whether to replace its longtime card issuer, JPMorgan Chase &amp; Co. Amazon is looking for “commitments to underwrite competitively to widen the acquisition funnel,” the retailer said in a request for proposals reviewed by The Wall Street Journal.</p><p><blockquote>亚马逊正在审查提案，因为它正在权衡是否取代其长期发卡机构摩根大通公司。该零售商在《华尔街日报》审查的提案请求中表示，亚马逊正在寻求“有竞争力的承销承诺，以扩大收购漏斗”。</blockquote></p><p> A desire to boost loan approvals was among the reasons Walmart in 2018 decided to end its decadeslong credit-card partnership with&nbsp;Synchrony Financial.(Capital One Financial Corp. now issues Walmart-branded credit cards.) The retailer made Affirm loans available to most of its customers the following year.</p><p><blockquote>提高贷款审批的愿望是沃尔玛在2018年决定结束与Synchrony Financial长达数十年的信用卡合作伙伴关系的原因之一。（第一资本金融公司现在发行沃尔玛品牌的信用卡。）该零售商向大多数人提供了Affirm贷款次年其客户。</blockquote></p><p> “Our goal is financial inclusion for all,” said Julia Unger, Walmart’s vice president of financial services.</p><p><blockquote>“我们的目标是全民金融普惠，”沃尔玛金融服务副总裁朱莉娅·昂格尔(Julia Unger)表示。</blockquote></p><p> Some banks now offer installment options on their credit cards.Citigroup&nbsp;Inc.&nbsp;saw a sevenfold increase in the dollar amount of credit-card purchases converted to installment loans in July, compared with the same month a year prior, said Gonzalo Luchetti, head of Citigroup’s U.S. consumer bank.</p><p><blockquote>一些银行现在在信用卡上提供分期付款选项。花旗集团美国消费者银行主管贡萨洛·卢凯蒂(Gonzalo Luchetti)表示，与去年同期相比，花旗集团7月份转换为分期贷款的信用卡购买金额增加了7倍。</blockquote></p><p> Synchrony, the largest U.S. store-credit-card issuer, will launch a buy-now, pay-later plan in October. Capital One will test out its own offering later this year, CEO Richard Fairbank said at a conference Monday.</p><p><blockquote>美国最大的商店信用卡发行商Synchrony将于10月推出先买后付计划。第一资本首席执行官理查德·费尔班克(Richard Fairbank)在周一的一次会议上表示，第一资本将在今年晚些时候测试自己的产品。</blockquote></p><p> Wells Fargo &amp; Co. and&nbsp;Bank of America&nbsp;Corp.&nbsp;are exploring adding installment plans on their credit cards, according to people familiar with the matter.Visa&nbsp;Inc.&nbsp;said it has been testing out ways for shoppers to check if they qualify for installment plans when they enter their card numbers at checkout.</p><p><blockquote>据知情人士透露，富国银行(Wells Fargo&amp;Co.)和美国银行(Bank of America Corp.)正在探索在其信用卡上增加分期付款计划。Visa Inc.表示，该公司一直在测试如何让购物者在结账时输入卡号时检查自己是否有资格享受分期付款计划。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/amazon-is-doing-it-so-is-walmart-why-retail-loves-buy-now-pay-later-11631784601?mod=hp_lead_pos10\">The Wall Street Journal</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":{"AFRM":"Affirm Holdings, Inc.","AMZN":"亚马逊","PYPL":"PayPal","V":"Visa","WMT":"沃尔玛","M":"梅西百货"},"source_url":"https://www.wsj.com/articles/amazon-is-doing-it-so-is-walmart-why-retail-loves-buy-now-pay-later-11631784601?mod=hp_lead_pos10","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168707929","content_text":"Retailers big and small are using installment plans to wring more sales out of shoppers who can’t get credit cards\nShoppers spend more at Macy’s when they use installment plans offered through Klarna Bank, Macy’s CEO Jeff Gennette said on a recent earnings call.\nAlexis Luedtke got her first “buy now, pay later” plan in 2019 after she was rejected for a credit card. She has used at least five more since to buy face cream, T-shirts and birthday gifts.\nInstallment plans are back in style.PayPal Holdings Inc. last week said it was buying Japanese installment payment startup Paidy Inc., following Square Inc.’s $29 billion deal for Afterpay Ltd.Macy’s Inc. and Bed Bath & Beyond Inc. have added the option at checkout over the past year. Even Amazon.com Inc. is doing it.\nOne reason: shoppers like Ms. Luedtke who don’t qualify for credit cards. Buy-now-pay-later companies say they rely less on—and in some cases bypass altogether—traditional credit scores and reports. Doing so allows them to approve more consumers. Shoppers gain the ability to buy things even without cash on hand—translating to higher sales for retailers.\nAfterpay said it expects the company’s U.S. merchants will see an $8.2 billion increase in sales this year because of payment plans.Affirm Holdings Inc. last year said purchases made with its payment plans were 85% larger, on average.\nShoppers spend more at Macy’s when they use installment plans offered through Klarna Bank AB, Macy’s CEO Jeff Gennette said on a recent earnings call. Klarna also is helping the retailer attract younger customers, he said.\n\n“The value that most retailers see in buy now, pay later is customer acquisition,” said David Sykes, Klarna’s North America head.\nMs. Luedtke, 26, has credit cards now but still prefers installment plans. Just last month, she used them to buy about $40 of Peter Thomas Roth skin-care products and $65 in clothing from Shein.\n“It definitely influences how much more I buy or would spend,” she said. “It’s easier to pay $200 over so many weeks compared to $200 right now.”\nBuy now, pay later is a new twist on an old idea. Big retailers have for decades offered installment plans for big-ticket items like washing machines. Today, these plans come in a variety of flavors. Afterpay offers payment plans that shoppers usually attach to their debit cards. Others, like Affirm, also facilitate new loans.\nInterest rates and other terms vary by payment-plan provider. Affirm interest rates range from 0% to 30%, with some 43% of its transactions during its last fiscal year not charging interest at all. The company doesn’t charge late fees. Afterpay doesn’t charge interest but does collect late fees.\n\nMerchants take no credit risk with these plans, but the fees they incur can be higher than on credit-card purchases—often between 3% and 5% of the purchase price, according to people familiar with the matter.\nBuy-now-pay-later companies say they can approve more customers than banks, including people who have thin or no borrowing history. Some 53 million adults in the U.S. lack traditional credit scores, according to FICO score creator Fair Isaac Corp.Installment plans are safer, they say, because they are often smaller than credit-card spending limits and approved on a per-transaction basis.\nAffirm said that it had a net charge-off rate of 1% in the quarter ended June 30, down from 2% a year earlier. Afterpay said it wrote off 0.6% of the total dollars it processed in payments during the company’s fiscal year ended June 30, up from 0.4% the year prior.\nWorking with a web of retailers, buy-now-pay-later companies can create self-contained payment ecosystems. They factor payment behavior into future underwriting decisions. Customers who pay late or not at all risk losing the installment option at other participating retailers.\n“Most merchants want a partner who has real advantage and real ability to underwrite,” said Affirm CEO Max Levchin. “These are not deeper approvals, but they are different approvals.”\nAffirm facilitates new loans among other payment plans.\nAmazon and Walmart Inc. are both working with Affirm. Both have said they want their financial partners to extend credit to more of their customers.\nAmazon is reviewing proposals, as it weighs whether to replace its longtime card issuer, JPMorgan Chase & Co. Amazon is looking for “commitments to underwrite competitively to widen the acquisition funnel,” the retailer said in a request for proposals reviewed by The Wall Street Journal.\nA desire to boost loan approvals was among the reasons Walmart in 2018 decided to end its decadeslong credit-card partnership with Synchrony Financial.(Capital One Financial Corp. now issues Walmart-branded credit cards.) The retailer made Affirm loans available to most of its customers the following year.\n“Our goal is financial inclusion for all,” said Julia Unger, Walmart’s vice president of financial services.\nSome banks now offer installment options on their credit cards.Citigroup Inc. saw a sevenfold increase in the dollar amount of credit-card purchases converted to installment loans in July, compared with the same month a year prior, said Gonzalo Luchetti, head of Citigroup’s U.S. consumer bank.\nSynchrony, the largest U.S. store-credit-card issuer, will launch a buy-now, pay-later plan in October. Capital One will test out its own offering later this year, CEO Richard Fairbank said at a conference Monday.\nWells Fargo & Co. and Bank of America Corp. are exploring adding installment plans on their credit cards, according to people familiar with the matter.Visa Inc. said it has been testing out ways for shoppers to check if they qualify for installment plans when they enter their card numbers at checkout.","news_type":1,"symbols_score_info":{"V":0.9,"WMT":0.9,"SQ":0.9,"AMZN":0.9,"AFRM":0.9,"PYPL":0.9,"M":0.9}},"isVote":1,"tweetType":1,"viewCount":711,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885127171,"gmtCreate":1631767307893,"gmtModify":1631883587760,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>BOUGHT THE DIP","listText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>BOUGHT THE DIP","text":"$Alibaba(BABA)$BOUGHT THE DIP","images":[{"img":"https://static.tigerbbs.com/60a6964016360c019c62dbf96fe085b7","width":"750","height":"1068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/885127171","isVote":1,"tweetType":1,"viewCount":581,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":816421132,"gmtCreate":1630515666026,"gmtModify":1631892127537,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>should I average up?","listText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>should I average up?","text":"$Alibaba(BABA)$should I average up?","images":[{"img":"https://static.tigerbbs.com/49e177cf593d00cdec654562e563bef8","width":"750","height":"1068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":13,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/816421132","isVote":1,"tweetType":1,"viewCount":759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":805892675,"gmtCreate":1627868651997,"gmtModify":1633755788399,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/805892675","repostId":"1170689665","repostType":4,"repost":{"id":"1170689665","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":1627857540,"share":"https://www.laohu8.com/m/news/1170689665?lang=zh_CN&edition=full","pubTime":"2021-08-02 06:39","market":"us","language":"en","title":"Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170689665","media":"Tiger Newspress","summary":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Dig","content":"<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩本周继续公布。除了数百家小盘股外，至少有143家标普500公司即将发布报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software和Simon Property Group将于周一开始行动。随后，Lyft、阿里巴巴-SW集团控股、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、Uber Technologies、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银都有报告。Beyond Meat、Yelp、Wayfair、Moderna和ViacomCBS将于周四上市，DraftKings、Canopy Growth和Tripadvisor将于周五结束本周。中国教育企业新东方教育科技集团有限公司和好未来教育集团取消原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局预计7月份非农就业人数将增加625,000人，而6月份为850,000人。失业率预计将保持在6%以下。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的7月份制造业采购经理人指数，随后是周三公布的服务业采购经理人指数。这两项经济活动指标预计都在61左右，这意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett&amp;Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、喜力、Trex、法拉利、Ultra Clean Holdings和Simon Property Group预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股104美元，周五收盘价为12.95美元。该公司周五晚上完成了8股1股的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布7月份制造业采购经理人指数。普遍预期为60.8，高于6月份的60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份建筑支出。继5月份下降0.3%后，预计环比增长0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>Eaton、BP、Under Armour、Lyft、Clorox、Amgen、Akamai Technologies、Cummins、Eli Lilly、阿里巴巴-SW集团控股、Nikola、EnPro Industries、Warner Music Group、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、Dun&amp;Bradstreet Holdings、ConocoPhillips和Jacobs Engineering Group在评级召开会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告6月份的工厂订单。经济学家预测当月订单增长1.0%，而5月份为增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>Sony Group、CVS Health、卡夫亨氏、软银、General Motors、Progressive、Etsy、Electronic Arts、Western Digital、Uber Technologies、Roku、MGM Resorts International、Fox和Re/Max Holdings预计将举行财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告7月份轻型汽车销量。预计看涨期权经季节调整后的年产量为1530万辆，而6月份为1540万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业PMI。普遍预期为60.8，而6月份为60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>七月份全国就业报告。市场普遍估计非农私营部门就业人数将增加635,000人，6月份增加692,000人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman&amp;Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>美国劳工统计局发布就业报告</b>为了七月。经济学家预测，继6月份非农就业人数增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、猫途鹰、Spectrum Brands Holdings、E.WScripps、Cinemark Holdings和Manitowoc在评级主办会议讨论财务业绩。</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>Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week<blockquote>阿里巴巴-SW、Uber、DraftKings、通用汽车、Roku、EA、ViacomCBS等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-02 06:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p><p><blockquote>第二季度业绩本周继续公布。除了数百家小盘股外，至少有143家标普500公司即将发布报告。法拉利、Vornado Realty Trust、Take-Two Interactive Software和Simon Property Group将于周一开始行动。随后，Lyft、阿里巴巴-SW集团控股、尼古拉、安德玛、礼来公司和康菲石油公司将于周二发布业绩。</blockquote></p><p> Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p><p><blockquote>周三将特别繁忙：通用汽车、Uber Technologies、Etsy、艺电、西部数据、Roku、CVS Health、卡夫亨氏和软银都有报告。Beyond Meat、Yelp、Wayfair、Moderna和ViacomCBS将于周四上市，DraftKings、Canopy Growth和Tripadvisor将于周五结束本周。中国教育企业新东方教育科技集团有限公司和好未来教育集团取消原定的财报发布和财报看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p><p><blockquote>本周经济日历上的亮点将是周五的就业。美国劳工统计局预计7月份非农就业人数将增加625,000人，而6月份为850,000人。失业率预计将保持在6%以下。</blockquote></p><p> Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的7月份制造业采购经理人指数，随后是周三公布的服务业采购经理人指数。这两项经济活动指标预计都在61左右，这意味着强劲的扩张。</blockquote></p><p> <b>Monday 8/2</b></p><p><blockquote><b>星期一8/2</b></blockquote></p><p> CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p><p><blockquote>CNA Financial、Global Payments、JELD-WEN Holding、Loews、Arista Networks、Leggett&amp;Platt、Vornado Realty Trust、ZoomInfo Technologies、Woodward、Take-Two Interactive Software、喜力、Trex、法拉利、Ultra Clean Holdings和Simon Property Group预计将发布财务业绩。</blockquote></p><p> GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p><p><blockquote>通用电气股票周一开盘价约为每股104美元，周五收盘价为12.95美元。该公司周五晚上完成了8股1股的反向股票分割。</blockquote></p><p> <b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p><p><blockquote><b>供应研究所</b>管理层发布7月份制造业采购经理人指数。普遍预期为60.8，高于6月份的60.6。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p><p><blockquote><b>人口普查局</b>报告6月份建筑支出。继5月份下降0.3%后，预计环比增长0.4%。</blockquote></p><p> <b>Tuesday 8/3</b></p><p><blockquote><b>星期二8/3</b></blockquote></p><p> Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p><p><blockquote>Eaton、BP、Under Armour、Lyft、Clorox、Amgen、Akamai Technologies、Cummins、Eli Lilly、阿里巴巴-SW集团控股、Nikola、EnPro Industries、Warner Music Group、Pitney Bowes、Tennant、Phillips 66、KKR、Gartner、Henry Schein、Dun&amp;Bradstreet Holdings、ConocoPhillips和Jacobs Engineering Group在评级召开会议讨论财务业绩。</blockquote></p><p> <b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p><p><blockquote><b>人口普查局</b>预计将报告6月份的工厂订单。经济学家预测当月订单增长1.0%，而5月份为增长1.7%。</blockquote></p><p> <b>Wednesday 8/4</b></p><p><blockquote><b>星期三8/4</b></blockquote></p><p> Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p><p><blockquote>Sony Group、CVS Health、卡夫亨氏、软银、General Motors、Progressive、Etsy、Electronic Arts、Western Digital、Uber Technologies、Roku、MGM Resorts International、Fox和Re/Max Holdings预计将举行财报评级。</blockquote></p><p> <b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p><p><blockquote><b>经济局</b>分析报告7月份轻型汽车销量。预计看涨期权经季节调整后的年产量为1530万辆，而6月份为1540万辆。</blockquote></p><p> <b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p><p><blockquote><b>ISM发布</b>7月份服务业PMI。普遍预期为60.8，而6月份为60.1。</blockquote></p><p> <b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p><p><blockquote><b>ADP释放</b>七月份全国就业报告。市场普遍估计非农私营部门就业人数将增加635,000人，6月份增加692,000人。</blockquote></p><p> <b>Thursday 8/5</b></p><p><blockquote><b>星期四8/5</b></blockquote></p><p> Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p><p><blockquote>Zillow Group、Beyond Meat、Yelp、Wayfair、Kellogg、Bayer、HanesBrands、Moderna、Regeneron Pharmaceuticals、Switch、Cushman&amp;Wakefield、ViacomCBS、Cigna、Duke Energy、Square、新闻集团和西门子预计将公布财务业绩。</blockquote></p><p> Friday 8/6</p><p><blockquote>星期五8/6</blockquote></p><p> <b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p><p><blockquote><b>美国劳工统计局发布就业报告</b>为了七月。经济学家预测，继6月份非农就业人数增加85万人之后，非农就业人数将增加80万人。失业率预计将从5.9%小幅降至5.8%。</blockquote></p><p> DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p><p><blockquote>DraftKings、Dominion Energy、Gannett、MGM Growth Properties、AMC Networks、Canopy Growth、猫途鹰、Spectrum Brands Holdings、E.WScripps、Cinemark Holdings和Manitowoc在评级主办会议讨论财务业绩。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBER":"优步",".SPX":"S&P 500 Index","GE":"GE航空航天",".IXIC":"NASDAQ Composite","GM":"通用汽车","EA":"艺电","BABA":"阿里巴巴","DKNG":"DraftKings Inc.",".DJI":"道琼斯","ROKU":"Roku Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170689665","content_text":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.\nWednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and ViacomCBS go on Thursday and DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation New Oriental Education & Technology Group Inc. and TAL Education Group cancels scheduled earnings release and earnings call.\n\nThe highlight on the economic calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.\nOther data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.\nMonday 8/2\nCNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett & Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.\nGE stock will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.\nThe Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.\nThe Census Bureau reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.\nTuesday 8/3\nEaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun & Bradstreet Holdings,ConocoPhillips, and Jacobs Engineering Grouphost conference calls to discuss financial results.\nThe Census Bureau is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.\nWednesday 8/4\nSony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.\nThe Bureau of Economic Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.\nThe ISM releases its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.\nADP releases its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.\nThursday 8/5\nZillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman & Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and Siemensare expected to report financial results.\nFriday 8/6\nThe BLS releases the jobs report for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.\nDraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.","news_type":1,"symbols_score_info":{"GE":0.9,".DJI":0.9,"GM":0.9,"BABA":0.9,"EA":0.9,"VIAC":0.9,".SPX":0.9,".IXIC":0.9,"UBER":0.9,"DKNG":0.9,"ROKU":0.9}},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802311692,"gmtCreate":1627717585916,"gmtModify":1633756834130,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/802311692","repostId":"1135561812","repostType":4,"repost":{"id":"1135561812","kind":"news","pubTimestamp":1627637430,"share":"https://www.laohu8.com/m/news/1135561812?lang=zh_CN&edition=full","pubTime":"2021-07-30 17:30","market":"us","language":"en","title":"AMD: Still Growing, Still Undervalued<blockquote>AMD：仍在增长，仍被低估</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135561812","media":"seekingalpha","summary":"AMD's margin gains are driven by growing strength in end markets.AMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.AMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.The most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors  and Radeon graphic cards. The uptick in g","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>AMD's margin gains are driven by growing strength in end markets.</li>  <li>AMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.</li>  <li>The semiconductor firm could be a $6.0B free cash flow business next year, even if growth slows down.</li>  <li>AMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e6e179318de667e33987f1b4a2afb27\" tg-width=\"768\" tg-height=\"512\" width=\"100%\" height=\"auto\"><span>Jay_Zynism/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD的利润率增长是由终端市场实力的增强推动的。</li><li>AMD将2021财年的收入指引上调了$1.0 B，毛利率接近50%。</li><li>即使增长放缓，这家半导体公司明年的自由现金流也可能达到$6.0 B。</li><li>AMD的美元销售额增长比Nvidia便宜，而且AMD的增长速度甚至可能更快。</li></ul><p class=\"t-img-caption\"><span>Jay_Zynism/iStock来自Getty Images</span></p></blockquote></p><p> AMD (AMD) made a splash yesterday after the semiconductor company reported growth and margins that were even better than what was expected. AMD’s revenue acceleration and strong gross margin expansion make a strong case for upside in the stock.</p><p><blockquote>AMD(AMD)昨天引起了轰动，此前这家半导体公司公布的增长和利润率甚至好于预期。AMD的收入加速和毛利率强劲扩张为该股的上涨提供了强有力的理由。</blockquote></p><p> <b>Why AMD is worth $120</b></p><p><blockquote><b>为什么AMD值120美元</b></blockquote></p><p> Before I dive into AMD’s latestresults, let’s quickly recap what the firm’s guidance was for the last quarter. For Q2’21, AMD expected a minimum of $3.5B in revenues with “high case” guidance implying 7% revenue growth Q/Q and a gross margin of 47%.</p><p><blockquote>在我深入了解AMD的最新业绩之前，让我们快速回顾一下该公司上季度的指引。对于21年第二季度，AMD预计收入至少为$3.5 B，“高案例”指导意味着收入环比增长7%，毛利率为47%。</blockquote></p><p> I expected AMD’s revenues to hit the high end of guidance ($3.7B), to have a minimum free cash flow of $895M (8% Q/Q growth) and a free cash flow margin of 24%. Given the acceleration of sales in higher-priced Ryzen desktop and notebook processors and GPUs as well as higher average selling prices/ASPs driven by broad-based strength in end markets, I expected AMD to beat its own margin guidance and report a gross margin of 48% for Q2’21. I also predicted a refreshment of AMD’s gross margin guidance due to strength in CPU and GPU ASPs. I laid out my forecast for AMD’s Q2’21 earnings in detail inAMD: On The Road To $5 Billion In Annual Free Cash Flow.</p><p><blockquote>我预计AMD的收入将达到指导上限（$3.7 B），最低自由现金流为8.95亿美元（环比增长8%），自由现金流利润率为24%。鉴于价格较高的锐龙台式机和笔记本处理器和GPU的销售加速，以及终端市场广泛实力推动的平均售价/ASP上升，我预计AMD将超出自己的利润率指导，并报告毛利率21年第二季度为48%。我还预测，由于CPU和GPU平均售价的强劲，AMD的毛利率指引将会更新。我在《AMD：迈向50亿美元的年度自由现金流》中详细阐述了对AMD 21年第二季度收益的预测。</blockquote></p><p> Turning to AMD’s actual results, the semiconductor firm proved once more that it is firing on all cylinders. AMD’s Q2’21 revenues were $3,850M, $150M above the high-end of guidance and up 12% Q/Q, with revenue momentum continuing in both Graphics/Computing and Enterprise markets. Graphics/Computing revenues increased 7% Q/Q to $2,250M because of higher client and graphic processor sales as well as strengthening ASPs. Enterprise, which has become the driver of AMD’s sales growth in recent quarters, saw Q2'21 revenues of $1.6B, up 19% Q/Q. Enterprise revenues continued to accelerate in Q2'21, after AMD recorded 5% Q/Q revenue growth in Q1'21.</p><p><blockquote>谈到AMD的实际业绩，这家半导体公司再次证明了它正在全力以赴。AMD 21年第二季度的收入为38.5亿美元，比指导上限高出1.5亿美元，环比增长12%，图形/计算和企业市场的收入势头仍在继续。由于客户端和图形处理器销售额的增加以及平均售价的提高，图形/计算收入环比增长7%，达到22.5亿美元。企业业务已成为AMD近几个季度销售增长的驱动力，21年第二季度收入为$1.6 B，环比增长19%。继AMD在21年第一季度录得5%的季度收入增长后，企业收入在21年第二季度继续加速。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3ec3e9d1f0b7d59915f9db8790725803\" tg-width=\"1039\" tg-height=\"587\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> The most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors (both mobile and desktop) and Radeon graphic cards. The uptick in gross margins in Q2’21 marked the third straight quarter of margin expansion for AMD and I don’t believe AMD has seen the end of this trend yet.</p><p><blockquote>然而，AMD 21年第二季度收益中最有趣的启示是毛利率的趋势。AMD的毛利率跃升4个百分点至48%，比指导值高出1个百分点，原因是价格较高的锐龙处理器（移动和桌面）和镭龙显卡的更好组合。21年第二季度毛利率的上升标志着AMD利润率连续第三个季度扩张，我认为AMD还没有看到这一趋势的结束。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dca6426ffa1332827a6774554d499c36\" tg-width=\"1048\" tg-height=\"566\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> Turning to cash flow.</p><p><blockquote>转向现金流。</blockquote></p><p> AMD reported cash flow from operating activities of $952M and free cash flow of $888M, $7M short of my expectation, but still almost six times more than a year ago. As AMD continues to see strong revenue growth tailwinds in both Computing/Graphics and Enterprise end markets, I believe AMD could grow its free cash flow margin to 30% by the end of next year. AMD raised its revenue guidance for FY 2021 (discussed later) by $1.0B which means I am also refreshing my free cash flow expectations for this year and next year.</p><p><blockquote>AMD报告的经营活动现金流为9.52亿美元，自由现金流为8.88亿美元，比我的预期低700万美元，但仍是一年前的近六倍。随着AMD在计算/图形和企业终端市场继续看到强劲的收入增长，我相信AMD可以在明年年底前将其自由现金流利润率提高到30%。AMD将2021财年的收入指引（稍后讨论）提高了$1.0 B，这意味着我也刷新了今年和明年的自由现金流预期。</blockquote></p><p> AMD expects to have revenues of $15.6B this year. Assuming a stable free cash flow margin of 23-24%, AMD is looking at free cash flow of $3.6B to $3.7B. Revenue estimates for next year are not refreshed yet, but AMD should have revenues of at least $20B in FY 2022 (assuming 25% Y/Y growth), implying free cash flow of $4.6B to $4.8B next year… and these estimates do not account for the possibility that AMD’s 3rd-gen EPYC Milan-powered server processors and higher-priced GPUs improve AMD’s free cash flow margin. A 30% free cash flow margin next year implies a free cash flow of $6.0B.</p><p><blockquote>AMD预计今年的收入为$15.6 B。假设稳定的自由现金流利润率为23-24%，AMD预计自由现金流为$3.6 B至$3.7 B。明年的收入预期尚未更新，但AMD在2022财年的收入应至少为$20B（假设同比增长25%），这意味着明年的自由现金流为$4.6 B至$4.8 B……而这些预期并未考虑AMD第三代EPYC Milan驱动的服务器处理器和价格更高的GPU提高AMD自由现金流利润率的可能性。明年30%的自由现金流利润率意味着自由现金流为$6.0 B。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ea23b7429f2edd8ce6dda945a88daa7\" tg-width=\"819\" tg-height=\"593\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> AMD is guiding for $4.1B in revenues +/- $100 million and the firm refreshed its FY 2021 revenue and gross margin guidance (as predicted). AMD now expects 60% revenue growth for FY 2021 (before 50%) and a gross margin of 48% (before 47%). Assuming 60% revenue growth, AMD is now looking at full year revenues of $15.6B (before $14.6B), so AMD's new guidance calls for $1.0B in additional revenues that were so far not priced into AMD’s market value.</p><p><blockquote><table><tbody><tr></tr></tbody></table>AMD预计收入为41亿美元+/-1亿美元，该公司更新了2021财年收入和毛利率指引（如预期）。AMD目前预计2021财年收入增长60%（之前为50%），毛利率为48%（之前为47%）。假设收入增长60%，AMD目前预计全年收入为$15.6 B（之前为$14.6 B），因此AMD的新指导评级为$1.0 B的额外收入，这些收入迄今为止尚未计入AMD的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e5c3c579e4a6472ae2c495a325b9a2b\" tg-width=\"1038\" tg-height=\"572\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> AMD’s higher gross margins and sales guidance create a potent force for the firm’s stock to revalue higher. Because of the recent dip in AMD’s shares and the addition of $1.0B in revenues, AMD’s dollar sales growth has become even cheaper after earnings. AMD’s dollar sales growth is valued lower than Nvidia’s and AMD is growing potentially at a faster rate: AMD's revenue guidance calls for 60% Y/Y growth and estimates for Nvidia imply \"only\" 49% Y/Y revenue growth for FY 2021. AMD has a market-capitalization-to-earnings ratio of 42.5 which is low for a firm that grows revenues 60% and that has a gross margin closing in on 50%.</p><p><blockquote>AMD较高的毛利率和销售指引为该公司股票升值创造了强大的力量。由于AMD股价最近下跌以及收入增加了$1.0 B，AMD的美元销售额增长在盈利后变得更加便宜。AMD的美元销售额增长低于Nvidia，而且AMD的增长速度可能更快：AMD的收入指导评级为同比增长60%，对Nvidia的预测意味着2021财年“仅”同比增长49%。AMD的市值与市盈率为42.5，对于一家收入增长60%、毛利率接近50%的公司来说，这是很低的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/653c9dd9d37a4abd742703bd87dd3534\" tg-width=\"908\" tg-height=\"312\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Nvidia’s P-E ratio based on an FY 2022 EPS of $17.29 is 44.5. If AMD earnings growth (FY 2022 EPS of $2.71) was valued the same as Nvidia’s, AMD’s fair price would be $120 ($2.71 x 44.5 earnings multiplier factor), indicating 17% upside.</p><p><blockquote><table><tbody><tr></tr></tbody></table>基于2022财年每股收益17.29美元，Nvidia的市盈率为44.5。如果AMD的盈利增长（2022财年每股收益为2.71美元）与Nvidia的估值相同，AMD的公平价格将为120美元（2.71美元x 44.5盈利乘数系数），表明上涨空间为17%。</blockquote></p><p> <b>Challenges to my price target</b></p><p><blockquote><b>我的价格目标面临的挑战</b></blockquote></p><p> The biggest opportunities and the biggest risks for AMD are tied to gross margins. AMD is having a year of strong revenue acceleration and margin growth, which is the chief reason why I believe AMD can revalue higher. But gross margins can't grow 3-4 PP every quarter. If AMD's gross margin expansion slows, or worse, gross margins drop back to 40%, decreasing stock returns for AMD are likely. A reversal in the gross margin trend would change my opinion on AMD and put my $120 stock price target in jeopardy.</p><p><blockquote>AMD最大的机遇和最大的风险都与毛利率有关。AMD今年的收入加速和利润率增长强劲，这是我相信AMD可以重估更高的主要原因。但毛利率不可能每个季度增长3-4个PP。如果AMD的毛利率扩张放缓，或者更糟的是，毛利率回落至40%，AMD的股票回报可能会下降。毛利率趋势的逆转将改变我对AMD的看法，并使我120美元的股价目标面临危险。</blockquote></p><p> Softening ASPs for CPUs and graphic chips are likely going to be the canary in the coal mine and could indicate weakening end markets for AMD ahead of time. Softer end markets imply AMD's revenue growth will slow which could result in a lower earnings multiplier factor by which AMD's profits are valued. I don't believe AMD is overvalued based on earnings, but the market may disagree with my assessment at any time.</p><p><blockquote>CPU和图形芯片的平均售价疲软可能会成为煤矿中的金丝雀，并可能预示着AMD终端市场的提前疲软。终端市场疲软意味着AMD的收入增长将放缓，这可能会导致AMD利润估值的盈利乘数降低。我不认为AMD基于盈利被高估，但市场随时可能不同意我的评估。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> AMD reported impressive revenue growth and gross margins for Q2. AMD's raised guidance and Q/Q revenue acceleration indicate that end markets for CPUs and GPUs are a lot stronger than expected. This could lead to another year of revenue acceleration and a continual expansion of AMD’s gross margin to 50%, supported by rising ASPs. AMD's risk profile is still heavily skewed to the upside.</p><p><blockquote>AMD报告第二季度收入增长和毛利率令人印象深刻。AMD上调指引和环比收入加速表明CPU和GPU的终端市场远强于预期。在平均售价上升的支持下，这可能会导致又一年的收入加速增长，AMD的毛利率持续扩大至50%。AMD的风险状况仍然严重偏向上行。</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: Still Growing, Still Undervalued<blockquote>AMD：仍在增长，仍被低估</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\">\nAMD: Still Growing, Still Undervalued<blockquote>AMD：仍在增长，仍被低估</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-30 17:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>AMD's margin gains are driven by growing strength in end markets.</li>  <li>AMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.</li>  <li>The semiconductor firm could be a $6.0B free cash flow business next year, even if growth slows down.</li>  <li>AMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e6e179318de667e33987f1b4a2afb27\" tg-width=\"768\" tg-height=\"512\" width=\"100%\" height=\"auto\"><span>Jay_Zynism/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD的利润率增长是由终端市场实力的增强推动的。</li><li>AMD将2021财年的收入指引上调了$1.0 B，毛利率接近50%。</li><li>即使增长放缓，这家半导体公司明年的自由现金流也可能达到$6.0 B。</li><li>AMD的美元销售额增长比Nvidia便宜，而且AMD的增长速度甚至可能更快。</li></ul><p class=\"t-img-caption\"><span>Jay_Zynism/iStock来自Getty Images</span></p></blockquote></p><p> AMD (AMD) made a splash yesterday after the semiconductor company reported growth and margins that were even better than what was expected. AMD’s revenue acceleration and strong gross margin expansion make a strong case for upside in the stock.</p><p><blockquote>AMD(AMD)昨天引起了轰动，此前这家半导体公司公布的增长和利润率甚至好于预期。AMD的收入加速和毛利率强劲扩张为该股的上涨提供了强有力的理由。</blockquote></p><p> <b>Why AMD is worth $120</b></p><p><blockquote><b>为什么AMD值120美元</b></blockquote></p><p> Before I dive into AMD’s latestresults, let’s quickly recap what the firm’s guidance was for the last quarter. For Q2’21, AMD expected a minimum of $3.5B in revenues with “high case” guidance implying 7% revenue growth Q/Q and a gross margin of 47%.</p><p><blockquote>在我深入了解AMD的最新业绩之前，让我们快速回顾一下该公司上季度的指引。对于21年第二季度，AMD预计收入至少为$3.5 B，“高案例”指导意味着收入环比增长7%，毛利率为47%。</blockquote></p><p> I expected AMD’s revenues to hit the high end of guidance ($3.7B), to have a minimum free cash flow of $895M (8% Q/Q growth) and a free cash flow margin of 24%. Given the acceleration of sales in higher-priced Ryzen desktop and notebook processors and GPUs as well as higher average selling prices/ASPs driven by broad-based strength in end markets, I expected AMD to beat its own margin guidance and report a gross margin of 48% for Q2’21. I also predicted a refreshment of AMD’s gross margin guidance due to strength in CPU and GPU ASPs. I laid out my forecast for AMD’s Q2’21 earnings in detail inAMD: On The Road To $5 Billion In Annual Free Cash Flow.</p><p><blockquote>我预计AMD的收入将达到指导上限（$3.7 B），最低自由现金流为8.95亿美元（环比增长8%），自由现金流利润率为24%。鉴于价格较高的锐龙台式机和笔记本处理器和GPU的销售加速，以及终端市场广泛实力推动的平均售价/ASP上升，我预计AMD将超出自己的利润率指导，并报告毛利率21年第二季度为48%。我还预测，由于CPU和GPU平均售价的强劲，AMD的毛利率指引将会更新。我在《AMD：迈向50亿美元的年度自由现金流》中详细阐述了对AMD 21年第二季度收益的预测。</blockquote></p><p> Turning to AMD’s actual results, the semiconductor firm proved once more that it is firing on all cylinders. AMD’s Q2’21 revenues were $3,850M, $150M above the high-end of guidance and up 12% Q/Q, with revenue momentum continuing in both Graphics/Computing and Enterprise markets. Graphics/Computing revenues increased 7% Q/Q to $2,250M because of higher client and graphic processor sales as well as strengthening ASPs. Enterprise, which has become the driver of AMD’s sales growth in recent quarters, saw Q2'21 revenues of $1.6B, up 19% Q/Q. Enterprise revenues continued to accelerate in Q2'21, after AMD recorded 5% Q/Q revenue growth in Q1'21.</p><p><blockquote>谈到AMD的实际业绩，这家半导体公司再次证明了它正在全力以赴。AMD 21年第二季度的收入为38.5亿美元，比指导上限高出1.5亿美元，环比增长12%，图形/计算和企业市场的收入势头仍在继续。由于客户端和图形处理器销售额的增加以及平均售价的提高，图形/计算收入环比增长7%，达到22.5亿美元。企业业务已成为AMD近几个季度销售增长的驱动力，21年第二季度收入为$1.6 B，环比增长19%。继AMD在21年第一季度录得5%的季度收入增长后，企业收入在21年第二季度继续加速。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3ec3e9d1f0b7d59915f9db8790725803\" tg-width=\"1039\" tg-height=\"587\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> The most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors (both mobile and desktop) and Radeon graphic cards. The uptick in gross margins in Q2’21 marked the third straight quarter of margin expansion for AMD and I don’t believe AMD has seen the end of this trend yet.</p><p><blockquote>然而，AMD 21年第二季度收益中最有趣的启示是毛利率的趋势。AMD的毛利率跃升4个百分点至48%，比指导值高出1个百分点，原因是价格较高的锐龙处理器（移动和桌面）和镭龙显卡的更好组合。21年第二季度毛利率的上升标志着AMD利润率连续第三个季度扩张，我认为AMD还没有看到这一趋势的结束。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dca6426ffa1332827a6774554d499c36\" tg-width=\"1048\" tg-height=\"566\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> Turning to cash flow.</p><p><blockquote>转向现金流。</blockquote></p><p> AMD reported cash flow from operating activities of $952M and free cash flow of $888M, $7M short of my expectation, but still almost six times more than a year ago. As AMD continues to see strong revenue growth tailwinds in both Computing/Graphics and Enterprise end markets, I believe AMD could grow its free cash flow margin to 30% by the end of next year. AMD raised its revenue guidance for FY 2021 (discussed later) by $1.0B which means I am also refreshing my free cash flow expectations for this year and next year.</p><p><blockquote>AMD报告的经营活动现金流为9.52亿美元，自由现金流为8.88亿美元，比我的预期低700万美元，但仍是一年前的近六倍。随着AMD在计算/图形和企业终端市场继续看到强劲的收入增长，我相信AMD可以在明年年底前将其自由现金流利润率提高到30%。AMD将2021财年的收入指引（稍后讨论）提高了$1.0 B，这意味着我也刷新了今年和明年的自由现金流预期。</blockquote></p><p> AMD expects to have revenues of $15.6B this year. Assuming a stable free cash flow margin of 23-24%, AMD is looking at free cash flow of $3.6B to $3.7B. Revenue estimates for next year are not refreshed yet, but AMD should have revenues of at least $20B in FY 2022 (assuming 25% Y/Y growth), implying free cash flow of $4.6B to $4.8B next year… and these estimates do not account for the possibility that AMD’s 3rd-gen EPYC Milan-powered server processors and higher-priced GPUs improve AMD’s free cash flow margin. A 30% free cash flow margin next year implies a free cash flow of $6.0B.</p><p><blockquote>AMD预计今年的收入为$15.6 B。假设稳定的自由现金流利润率为23-24%，AMD预计自由现金流为$3.6 B至$3.7 B。明年的收入预期尚未更新，但AMD在2022财年的收入应至少为$20B（假设同比增长25%），这意味着明年的自由现金流为$4.6 B至$4.8 B……而这些预期并未考虑AMD第三代EPYC Milan驱动的服务器处理器和价格更高的GPU提高AMD自由现金流利润率的可能性。明年30%的自由现金流利润率意味着自由现金流为$6.0 B。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ea23b7429f2edd8ce6dda945a88daa7\" tg-width=\"819\" tg-height=\"593\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> AMD is guiding for $4.1B in revenues +/- $100 million and the firm refreshed its FY 2021 revenue and gross margin guidance (as predicted). AMD now expects 60% revenue growth for FY 2021 (before 50%) and a gross margin of 48% (before 47%). Assuming 60% revenue growth, AMD is now looking at full year revenues of $15.6B (before $14.6B), so AMD's new guidance calls for $1.0B in additional revenues that were so far not priced into AMD’s market value.</p><p><blockquote><table><tbody><tr></tr></tbody></table>AMD预计收入为41亿美元+/-1亿美元，该公司更新了2021财年收入和毛利率指引（如预期）。AMD目前预计2021财年收入增长60%（之前为50%），毛利率为48%（之前为47%）。假设收入增长60%，AMD目前预计全年收入为$15.6 B（之前为$14.6 B），因此AMD的新指导评级为$1.0 B的额外收入，这些收入迄今为止尚未计入AMD的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e5c3c579e4a6472ae2c495a325b9a2b\" tg-width=\"1038\" tg-height=\"572\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> AMD’s higher gross margins and sales guidance create a potent force for the firm’s stock to revalue higher. Because of the recent dip in AMD’s shares and the addition of $1.0B in revenues, AMD’s dollar sales growth has become even cheaper after earnings. AMD’s dollar sales growth is valued lower than Nvidia’s and AMD is growing potentially at a faster rate: AMD's revenue guidance calls for 60% Y/Y growth and estimates for Nvidia imply \"only\" 49% Y/Y revenue growth for FY 2021. AMD has a market-capitalization-to-earnings ratio of 42.5 which is low for a firm that grows revenues 60% and that has a gross margin closing in on 50%.</p><p><blockquote>AMD较高的毛利率和销售指引为该公司股票升值创造了强大的力量。由于AMD股价最近下跌以及收入增加了$1.0 B，AMD的美元销售额增长在盈利后变得更加便宜。AMD的美元销售额增长低于Nvidia，而且AMD的增长速度可能更快：AMD的收入指导评级为同比增长60%，对Nvidia的预测意味着2021财年“仅”同比增长49%。AMD的市值与市盈率为42.5，对于一家收入增长60%、毛利率接近50%的公司来说，这是很低的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/653c9dd9d37a4abd742703bd87dd3534\" tg-width=\"908\" tg-height=\"312\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Nvidia’s P-E ratio based on an FY 2022 EPS of $17.29 is 44.5. If AMD earnings growth (FY 2022 EPS of $2.71) was valued the same as Nvidia’s, AMD’s fair price would be $120 ($2.71 x 44.5 earnings multiplier factor), indicating 17% upside.</p><p><blockquote><table><tbody><tr></tr></tbody></table>基于2022财年每股收益17.29美元，Nvidia的市盈率为44.5。如果AMD的盈利增长（2022财年每股收益为2.71美元）与Nvidia的估值相同，AMD的公平价格将为120美元（2.71美元x 44.5盈利乘数系数），表明上涨空间为17%。</blockquote></p><p> <b>Challenges to my price target</b></p><p><blockquote><b>我的价格目标面临的挑战</b></blockquote></p><p> The biggest opportunities and the biggest risks for AMD are tied to gross margins. AMD is having a year of strong revenue acceleration and margin growth, which is the chief reason why I believe AMD can revalue higher. But gross margins can't grow 3-4 PP every quarter. If AMD's gross margin expansion slows, or worse, gross margins drop back to 40%, decreasing stock returns for AMD are likely. A reversal in the gross margin trend would change my opinion on AMD and put my $120 stock price target in jeopardy.</p><p><blockquote>AMD最大的机遇和最大的风险都与毛利率有关。AMD今年的收入加速和利润率增长强劲，这是我相信AMD可以重估更高的主要原因。但毛利率不可能每个季度增长3-4个PP。如果AMD的毛利率扩张放缓，或者更糟的是，毛利率回落至40%，AMD的股票回报可能会下降。毛利率趋势的逆转将改变我对AMD的看法，并使我120美元的股价目标面临危险。</blockquote></p><p> Softening ASPs for CPUs and graphic chips are likely going to be the canary in the coal mine and could indicate weakening end markets for AMD ahead of time. Softer end markets imply AMD's revenue growth will slow which could result in a lower earnings multiplier factor by which AMD's profits are valued. I don't believe AMD is overvalued based on earnings, but the market may disagree with my assessment at any time.</p><p><blockquote>CPU和图形芯片的平均售价疲软可能会成为煤矿中的金丝雀，并可能预示着AMD终端市场的提前疲软。终端市场疲软意味着AMD的收入增长将放缓，这可能会导致AMD利润估值的盈利乘数降低。我不认为AMD基于盈利被高估，但市场随时可能不同意我的评估。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> AMD reported impressive revenue growth and gross margins for Q2. AMD's raised guidance and Q/Q revenue acceleration indicate that end markets for CPUs and GPUs are a lot stronger than expected. This could lead to another year of revenue acceleration and a continual expansion of AMD’s gross margin to 50%, supported by rising ASPs. AMD's risk profile is still heavily skewed to the upside.</p><p><blockquote>AMD报告第二季度收入增长和毛利率令人印象深刻。AMD上调指引和环比收入加速表明CPU和GPU的终端市场远强于预期。在平均售价上升的支持下，这可能会导致又一年的收入加速增长，AMD的毛利率持续扩大至50%。AMD的风险状况仍然严重偏向上行。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4442955-amd-still-growing-still-undervalued\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMD":"美国超微公司"},"source_url":"https://seekingalpha.com/article/4442955-amd-still-growing-still-undervalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135561812","content_text":"Summary\n\nAMD's margin gains are driven by growing strength in end markets.\nAMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.\nThe semiconductor firm could be a $6.0B free cash flow business next year, even if growth slows down.\nAMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.\n\nJay_Zynism/iStock via Getty Images\nAMD (AMD) made a splash yesterday after the semiconductor company reported growth and margins that were even better than what was expected. AMD’s revenue acceleration and strong gross margin expansion make a strong case for upside in the stock.\nWhy AMD is worth $120\nBefore I dive into AMD’s latestresults, let’s quickly recap what the firm’s guidance was for the last quarter. For Q2’21, AMD expected a minimum of $3.5B in revenues with “high case” guidance implying 7% revenue growth Q/Q and a gross margin of 47%.\nI expected AMD’s revenues to hit the high end of guidance ($3.7B), to have a minimum free cash flow of $895M (8% Q/Q growth) and a free cash flow margin of 24%. Given the acceleration of sales in higher-priced Ryzen desktop and notebook processors and GPUs as well as higher average selling prices/ASPs driven by broad-based strength in end markets, I expected AMD to beat its own margin guidance and report a gross margin of 48% for Q2’21. I also predicted a refreshment of AMD’s gross margin guidance due to strength in CPU and GPU ASPs. I laid out my forecast for AMD’s Q2’21 earnings in detail inAMD: On The Road To $5 Billion In Annual Free Cash Flow.\nTurning to AMD’s actual results, the semiconductor firm proved once more that it is firing on all cylinders. AMD’s Q2’21 revenues were $3,850M, $150M above the high-end of guidance and up 12% Q/Q, with revenue momentum continuing in both Graphics/Computing and Enterprise markets. Graphics/Computing revenues increased 7% Q/Q to $2,250M because of higher client and graphic processor sales as well as strengthening ASPs. Enterprise, which has become the driver of AMD’s sales growth in recent quarters, saw Q2'21 revenues of $1.6B, up 19% Q/Q. Enterprise revenues continued to accelerate in Q2'21, after AMD recorded 5% Q/Q revenue growth in Q1'21.\n(Source:AMD)\nThe most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors (both mobile and desktop) and Radeon graphic cards. The uptick in gross margins in Q2’21 marked the third straight quarter of margin expansion for AMD and I don’t believe AMD has seen the end of this trend yet.\n(Source:AMD)\nTurning to cash flow.\nAMD reported cash flow from operating activities of $952M and free cash flow of $888M, $7M short of my expectation, but still almost six times more than a year ago. As AMD continues to see strong revenue growth tailwinds in both Computing/Graphics and Enterprise end markets, I believe AMD could grow its free cash flow margin to 30% by the end of next year. AMD raised its revenue guidance for FY 2021 (discussed later) by $1.0B which means I am also refreshing my free cash flow expectations for this year and next year.\nAMD expects to have revenues of $15.6B this year. Assuming a stable free cash flow margin of 23-24%, AMD is looking at free cash flow of $3.6B to $3.7B. Revenue estimates for next year are not refreshed yet, but AMD should have revenues of at least $20B in FY 2022 (assuming 25% Y/Y growth), implying free cash flow of $4.6B to $4.8B next year… and these estimates do not account for the possibility that AMD’s 3rd-gen EPYC Milan-powered server processors and higher-priced GPUs improve AMD’s free cash flow margin. A 30% free cash flow margin next year implies a free cash flow of $6.0B.\n(Source: Author)\n\n\n\n\n\nAMD is guiding for $4.1B in revenues +/- $100 million and the firm refreshed its FY 2021 revenue and gross margin guidance (as predicted). AMD now expects 60% revenue growth for FY 2021 (before 50%) and a gross margin of 48% (before 47%). Assuming 60% revenue growth, AMD is now looking at full year revenues of $15.6B (before $14.6B), so AMD's new guidance calls for $1.0B in additional revenues that were so far not priced into AMD’s market value.\n(Source:AMD)\nAMD’s higher gross margins and sales guidance create a potent force for the firm’s stock to revalue higher. Because of the recent dip in AMD’s shares and the addition of $1.0B in revenues, AMD’s dollar sales growth has become even cheaper after earnings. AMD’s dollar sales growth is valued lower than Nvidia’s and AMD is growing potentially at a faster rate: AMD's revenue guidance calls for 60% Y/Y growth and estimates for Nvidia imply \"only\" 49% Y/Y revenue growth for FY 2021. AMD has a market-capitalization-to-earnings ratio of 42.5 which is low for a firm that grows revenues 60% and that has a gross margin closing in on 50%.\n(Source: Author)\n\n\n\n\n\nNvidia’s P-E ratio based on an FY 2022 EPS of $17.29 is 44.5. If AMD earnings growth (FY 2022 EPS of $2.71) was valued the same as Nvidia’s, AMD’s fair price would be $120 ($2.71 x 44.5 earnings multiplier factor), indicating 17% upside.\nChallenges to my price target\nThe biggest opportunities and the biggest risks for AMD are tied to gross margins. AMD is having a year of strong revenue acceleration and margin growth, which is the chief reason why I believe AMD can revalue higher. But gross margins can't grow 3-4 PP every quarter. If AMD's gross margin expansion slows, or worse, gross margins drop back to 40%, decreasing stock returns for AMD are likely. A reversal in the gross margin trend would change my opinion on AMD and put my $120 stock price target in jeopardy.\nSoftening ASPs for CPUs and graphic chips are likely going to be the canary in the coal mine and could indicate weakening end markets for AMD ahead of time. Softer end markets imply AMD's revenue growth will slow which could result in a lower earnings multiplier factor by which AMD's profits are valued. I don't believe AMD is overvalued based on earnings, but the market may disagree with my assessment at any time.\nFinal thoughts\nAMD reported impressive revenue growth and gross margins for Q2. AMD's raised guidance and Q/Q revenue acceleration indicate that end markets for CPUs and GPUs are a lot stronger than expected. This could lead to another year of revenue acceleration and a continual expansion of AMD’s gross margin to 50%, supported by rising ASPs. AMD's risk profile is still heavily skewed to the upside.","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":864128354,"gmtCreate":1633076225719,"gmtModify":1633076236064,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>START AGAIN","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>START AGAIN","text":"$Palantir Technologies Inc.(PLTR)$START AGAIN","images":[{"img":"https://static.tigerbbs.com/d966669d5ec2e8b6575bbcd085df41e5","width":"750","height":"1174"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/864128354","isVote":1,"tweetType":1,"viewCount":876,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":140328262,"gmtCreate":1625631346056,"gmtModify":1633938876934,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/140328262","repostId":"1163143630","repostType":4,"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128345842,"gmtCreate":1624503358086,"gmtModify":1631888290346,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SPOT\">$Spotify Technology S.A.(SPOT)$</a>HIGHER","listText":"<a href=\"https://laohu8.com/S/SPOT\">$Spotify Technology S.A.(SPOT)$</a>HIGHER","text":"$Spotify Technology S.A.(SPOT)$HIGHER","images":[{"img":"https://static.tigerbbs.com/029bc32d782726d1ac58bfc25a0d104b","width":"750","height":"1068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":1,"link":"https://laohu8.com/post/128345842","isVote":1,"tweetType":1,"viewCount":514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":860020860,"gmtCreate":1632109001950,"gmtModify":1632802774611,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/860020860","repostId":"1147800593","repostType":4,"repost":{"id":"1147800593","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":1632106802,"share":"https://www.laohu8.com/m/news/1147800593?lang=zh_CN&edition=full","pubTime":"2021-09-20 11:00","market":"us","language":"en","title":"Asia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港跌至11个月低点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147800593","media":"Tiger Newspress","summary":"Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a doze","content":"<p>Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.</p><p><blockquote>周一，亚洲股市下跌，美元坚挺，本周将举行不少于十几次央行会议，美联储可能会向缩减购债规模迈出另一步。</blockquote></p><p> Holidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.</p><p><blockquote>日本、中国和韩国的假期导致情况不佳，而加拿大和德国的选举也在本周结束，政治增加了额外的不确定性。</blockquote></p><p> The&nbsp;stocks in Hong Kong&nbsp;skidded more than 4% to their lowest in almost 11 months.</p><p><blockquote>香港股市下跌逾4%，至近11个月来的最低水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a42d1a9edab746e9add26971d833b8f7\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> MSCI's broadest index of Asia-Pacific shares outside Japan&nbsp;slid another 1.4%, after shedding 2.5% last week, with Australia&nbsp;down 1.5%.</p><p><blockquote>摩根士丹利资本国际（MSCI）除日本以外最广泛的亚太股票指数继上周下跌2.5%后又下跌1.4%，其中澳大利亚下跌1.5%。</blockquote></p><p> Japan's Nikkei&nbsp;was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.</p><p><blockquote>日本日经指数休市，但期货价格比周五收盘价低400点。由于希望新总理将带来更多刺激和政策变化，市场在飙升至30年高点后可能需要盘整。</blockquote></p><p> Nasdaq futures eased 0.5% and S&amp;P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.</p><p><blockquote>纳斯达克期货下跌0.5%，标普500期货下跌0.3%，在美国消费者信心数据令人失望后，华尔街上周收盘疲软。</blockquote></p><p> The Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.</p><p><blockquote>预计美联储仍将在周二和周三的政策会议上为缩减规模奠定基础，尽管共识是实际宣布将推迟到11月或12月的会议。</blockquote></p><p> Yields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.</p><p><blockquote>10年期国债收益率触及两个月高点，曲线在会议前趋于平坦。</blockquote></p><p> \"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.</p><p><blockquote>NAB经济主管塔帕斯·斯特里克兰(Tapas Strickland)警告称：“收益率曲线趋平表明，一些人担心美联储可能会过度延长最终的加息周期。”</blockquote></p><p> He noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.</p><p><blockquote>他指出，鉴于18位成员中有7位已经暗示明年加息，只有2-3位FOMC成员需要改变他们对2022年加息的“点阵图”预测，使其达到中位数。</blockquote></p><p> \"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"</p><p><blockquote>“美联储还将制定2024年的dots，这将表明潜在加息周期的陡度。”</blockquote></p><p> The market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.</p><p><blockquote>市场普遍认为2023年加息两次，2024年加息四次，长期联邦基金利率为2.125%。</blockquote></p><p> Central banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.</p><p><blockquote>欧盟、日本、英国、瑞士、瑞典、挪威、印度尼西亚、菲律宾、巴西、南非、土耳其和匈牙利的央行本周都有会议。</blockquote></p><p> The Norges Bank is expected to be the first in the G10 to raise interest rates.</p><p><blockquote>预计挪威央行将在G10中率先加息。</blockquote></p><p> Higher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.</p><p><blockquote>美国收益率上升加上普遍的避险情绪有利于美元，美元兑一篮子货币升至接近一个月高点93.303。</blockquote></p><p> It was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.</p><p><blockquote>日元兑美元汇率在109.96区间波动，而欧元兑美元汇率接近三周低点1.1717美元，部分原因是本周末德国大选前的不确定性。</blockquote></p><p> Canada goes to the polls on Monday with the race too close to call.</p><p><blockquote>加拿大将于周一进行投票，与看涨期权的竞争过于激烈。</blockquote></p><p> The firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.</p><p><blockquote>美元走强打压金价，金价在上周下跌1.9%后，报每盎司1,749美元。</blockquote></p><p> Oil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.</p><p><blockquote>美国墨西哥湾的能源公司在该地区连续发生飓风导致产量关闭后重启生产，油价有所回落。</blockquote></p><p> Brent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.</p><p><blockquote>布伦特原油下跌54美分，至每桶74.80美元，美国原油下跌57美分，至每桶71.40美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAsia stocks on the skids, HK hits 11-month low<blockquote>亚洲股市下滑，香港跌至11个月低点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-20 11:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.</p><p><blockquote>周一，亚洲股市下跌，美元坚挺，本周将举行不少于十几次央行会议，美联储可能会向缩减购债规模迈出另一步。</blockquote></p><p> Holidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.</p><p><blockquote>日本、中国和韩国的假期导致情况不佳，而加拿大和德国的选举也在本周结束，政治增加了额外的不确定性。</blockquote></p><p> The&nbsp;stocks in Hong Kong&nbsp;skidded more than 4% to their lowest in almost 11 months.</p><p><blockquote>香港股市下跌逾4%，至近11个月来的最低水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a42d1a9edab746e9add26971d833b8f7\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> MSCI's broadest index of Asia-Pacific shares outside Japan&nbsp;slid another 1.4%, after shedding 2.5% last week, with Australia&nbsp;down 1.5%.</p><p><blockquote>摩根士丹利资本国际（MSCI）除日本以外最广泛的亚太股票指数继上周下跌2.5%后又下跌1.4%，其中澳大利亚下跌1.5%。</blockquote></p><p> Japan's Nikkei&nbsp;was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.</p><p><blockquote>日本日经指数休市，但期货价格比周五收盘价低400点。由于希望新总理将带来更多刺激和政策变化，市场在飙升至30年高点后可能需要盘整。</blockquote></p><p> Nasdaq futures eased 0.5% and S&amp;P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.</p><p><blockquote>纳斯达克期货下跌0.5%，标普500期货下跌0.3%，在美国消费者信心数据令人失望后，华尔街上周收盘疲软。</blockquote></p><p> The Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.</p><p><blockquote>预计美联储仍将在周二和周三的政策会议上为缩减规模奠定基础，尽管共识是实际宣布将推迟到11月或12月的会议。</blockquote></p><p> Yields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.</p><p><blockquote>10年期国债收益率触及两个月高点，曲线在会议前趋于平坦。</blockquote></p><p> \"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.</p><p><blockquote>NAB经济主管塔帕斯·斯特里克兰(Tapas Strickland)警告称：“收益率曲线趋平表明，一些人担心美联储可能会过度延长最终的加息周期。”</blockquote></p><p> He noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.</p><p><blockquote>他指出，鉴于18位成员中有7位已经暗示明年加息，只有2-3位FOMC成员需要改变他们对2022年加息的“点阵图”预测，使其达到中位数。</blockquote></p><p> \"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"</p><p><blockquote>“美联储还将制定2024年的dots，这将表明潜在加息周期的陡度。”</blockquote></p><p> The market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.</p><p><blockquote>市场普遍认为2023年加息两次，2024年加息四次，长期联邦基金利率为2.125%。</blockquote></p><p> Central banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.</p><p><blockquote>欧盟、日本、英国、瑞士、瑞典、挪威、印度尼西亚、菲律宾、巴西、南非、土耳其和匈牙利的央行本周都有会议。</blockquote></p><p> The Norges Bank is expected to be the first in the G10 to raise interest rates.</p><p><blockquote>预计挪威央行将在G10中率先加息。</blockquote></p><p> Higher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.</p><p><blockquote>美国收益率上升加上普遍的避险情绪有利于美元，美元兑一篮子货币升至接近一个月高点93.303。</blockquote></p><p> It was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.</p><p><blockquote>日元兑美元汇率在109.96区间波动，而欧元兑美元汇率接近三周低点1.1717美元，部分原因是本周末德国大选前的不确定性。</blockquote></p><p> Canada goes to the polls on Monday with the race too close to call.</p><p><blockquote>加拿大将于周一进行投票，与看涨期权的竞争过于激烈。</blockquote></p><p> The firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.</p><p><blockquote>美元走强打压金价，金价在上周下跌1.9%后，报每盎司1,749美元。</blockquote></p><p> Oil prices eased as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.</p><p><blockquote>美国墨西哥湾的能源公司在该地区连续发生飓风导致产量关闭后重启生产，油价有所回落。</blockquote></p><p> Brent fell 54 cents to $74.80 a barrel, while U.S. crude lost 57 cents to $71.40.</p><p><blockquote>布伦特原油下跌54美分，至每桶74.80美元，美国原油下跌57美分，至每桶71.40美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSCEI":"国企指数","HSTECH":"恒生科技指数","HSCCI":"红筹指数","HSI":"恒生指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147800593","content_text":"Asian shares slid and the dollar held firm on Monday ahead of a week packed with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.\nHolidays in Japan, China and South Korea made for thin conditions, and politics added extra uncertainty with elections in Canada and Germany bookending the week.\nThe stocks in Hong Kong skidded more than 4% to their lowest in almost 11 months.\n\nMSCI's broadest index of Asia-Pacific shares outside Japan slid another 1.4%, after shedding 2.5% last week, with Australia down 1.5%.\nJapan's Nikkei was shut, but futures were 400 points below the Friday cash close. The market could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.\nNasdaq futures eased 0.5% and S&P 500 futures fell 0.3%, with Wall Street ending last week on a soft note after disappointing U.S. consumer confidence data.\nThe Fed is still expected to lay the groundwork for a tapering at its policy meeting on Tuesday and Wednesday, though the consensus is for an actual announcement to be delayed until the November or December meetings.\nYields on 10-year Treasuries touched a two-month top and the curve flattened ahead of the meeting.\n\"A flatter yield curve suggests some fears the Fed may overdo the eventual hiking cycle,\" cautioned Tapas Strickland, a director of economics at NAB.\nHe noted only 2-3 FOMC members would need to shift their \"dot plot\" forecasts for a hike in 2022 to make it the median, given seven of 18 had already tipped a move next year.\n\"The Fed will also have dots for 2024 which will give an indication of the steepness of the potential hiking cycle.\"\nThe market consensus is for two hikes in 2023 and four in 2024 with the longer-run fed funds rate seen at 2.125%.\nCentral banks in the EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Brazil, South Africa, Turkey and Hungary all have meetings this week.\nThe Norges Bank is expected to be the first in the G10 to raise interest rates.\nHigher U.S. yields has combined with general risk aversion to benefit the dollar which was up near a one-month high at 93.303 on a basket of currencies.\nIt was range bound on the yen at 109.96 , while the euro was near its lowest in three weeks at $1.1717 in part on uncertainty ahead of Germany's election this weekend.\nCanada goes to the polls on Monday with the race too close to call.\nThe firmer dollar weighed on gold, which was pinned at $1,749 an ounce after losing 1.9% last week.\nOil prices eased as energy companies in the U.S. Gulf of Mexico 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08:48","market":"us","language":"en","title":"Where Will Plug Power Be In 10 Years?<blockquote>10年后的普拉格能源会在哪里？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1133270372","media":"seekingalpha","summary":"Summary\n\nPlug Power is active in an attractive industry with huge growth tailwinds.\nIt serves low-ri","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Plug Power is active in an attractive industry with huge growth tailwinds.</li>  <li>It serves low-risk customers and has a strong position in its industry.</li>  <li>Shares are pricing in a lot of future growth, and investors should consider what actual per-share returns might look like before deploying money at current valuations.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fa1aea5535d99338f385c168062b218\" tg-width=\"1536\" tg-height=\"852\" referrerpolicy=\"no-referrer\"><span>Fokusiert/iStock via Getty Images</span></p><p><blockquote><ul><li>普拉格能源活跃在一个具有巨大增长动力的有吸引力的行业中。</li><li>它服务于低风险客户，在行业中拥有强大的地位。</li><li>股价反映了未来的大量增长，投资者在以当前估值配置资金之前应该考虑实际每股回报可能是什么样子。</li></ul><p class=\"t-img-caption\"><span>Fokusiert/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Plug Power, Inc. (PLUG) is active in a high-growth industry, which translates into a strong long-term business growth outlook, as long as the company can capitalize on its goals and management executes well. The company is, however, not profitable yet, and the path to meaningful net profits holds some uncertainties still. Taking a longer-term view, we can expect that Plug Power will generate positive net profits despite the fact that shares are valuing the company at a relatively high current valuation. From a risk-reward standpoint, there may be better picks available, though, despite the fact that I believe that shares will trade materially higher in 2031.</p><p><blockquote>普拉格能源公司（PLUG）活跃于高增长行业，只要公司能够实现其目标并且管理层执行良好，这就意味着强劲的长期业务增长前景。然而，该公司尚未盈利，实现有意义的净利润的道路仍然存在一些不确定性。从更长远的角度来看，我们可以预计普拉格能源将产生正的净利润，尽管该公司目前的估值相对较高。不过，从风险回报的角度来看，可能有更好的选择，尽管我相信2031年股价将大幅走高。</blockquote></p><p> <b>Plug Power Stock Price</b></p><p><blockquote><b>普拉格能源股价</b></blockquote></p><p> Plug Power, Inc. has seen its share price move up and down violently over the last year:</p><p><blockquote>去年，普拉格能源公司的股价剧烈上下波动：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d940297249151eddcccf6440d20ef031\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Shares trade 130% higher than 12 months ago, but at the same time, shares trade at just one-third of the all-time high today. In early 2021, shares exploded upwards at a time when other renewable/new energy and related stocks, including EV plays, benefited from massive investor enthusiasm. Since then, enthusiasm seems to have cooled, and shares have reverted back to the $20s. At current prices, Plug Power, Inc. is valued at $16 billion based on a diluted share count of a little less than 600 million. Analysts are pretty bullish on the stock right now, as the consensus price target of $41 implies an upside potential of around 50% from current prices throughout the next year. It should be noted, however, that the analyst consensus price target has been lowered in recent months, and may continue to be lowered going forward. Due to non-existent profits PLUG can't be valued on an earnings basis, but shares trade for around 30x this year's revenue, which is quite expensive.</p><p><blockquote>股价比12个月前上涨了130%，但与此同时，股价仅为今天历史高点的三分之一。2021年初，其他可再生能源/新能源及相关股票（包括电动汽车）受益于投资者的巨大热情，股价大幅上涨。此后，热情似乎有所降温，股价又回到了20多美元。按目前价格计算，普拉格能源公司的估值为160亿美元，稀释后的股票数量略低于6亿股。分析师目前非常看好该股，因为41美元的一致目标价意味着明年较当前价格有50%左右的上涨潜力。但值得注意的是，近几个月来分析师一致的目标价已被下调，并且未来可能会继续下调。由于不存在利润，PLUG无法以盈利为基础进行估值，但股价约为今年收入的30倍，这相当昂贵。</blockquote></p><p> <b>Plug Power Stock Prediction</b></p><p><blockquote><b>普拉格能源股票预测</b></blockquote></p><p> Plug Power, Inc. is active in an absolute growth industry, as hydrogen fuel cells will see huge demand growth in coming years as they allow for an environmentally friendly alternative to other fuels. Plug Power, as a turnkey provider in a market leadership position for this technology, is well-positioned to capitalize on this megatrend. Through a network of global partnerships, including with Brookfield Renewable Partners (BEP), Plug Power is working on growing the green hydrogen industryglobally:</p><p><blockquote>普拉格能源公司活跃在一个绝对增长的行业，因为氢燃料电池将在未来几年看到巨大的需求增长，因为它们允许作为其他燃料的环保替代品。普拉格能源作为该技术市场领先地位的交钥匙供应商，完全有能力利用这一大趋势。通过包括Brookfield Renewable Partners(BEP)在内的全球合作伙伴网络，普拉格能源正在致力于在全球范围内发展绿色氢产业：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/91a8e3b57882e429c9eace431bd1f541\" tg-width=\"640\" tg-height=\"350\" width=\"100%\" height=\"auto\"><span>Source: Plug Power presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：普拉格能源演示</span></p></blockquote></p><p> Plug Power's green hydrogen can be used for powering trucks, busses, and other vehicles, while the company is also providing environmentally friendly alternatives to diesel generators in the megawatt scale range that can be used by utilities, for example. The company is, on top of that, also working on other ventures that are not ready to be commercialized yet, such as powering aircraft with hydrogen. Plug Power will have at least 5 hydrogen plants running in the US in 2024, i.e. three years from now, with more projects being in the pipeline both in the US and in overseas markets such as Europe.</p><p><blockquote>普拉格能源的绿色氢可用于为卡车、公共汽车和其他车辆提供动力，同时该公司还为公用事业公司使用的兆瓦级柴油发电机提供环保替代品。除此之外，该公司还致力于其他尚未准备好商业化的项目，例如用氢气为飞机提供动力。2024年，即三年后，普拉格能源将在美国运营至少5座氢气厂，美国以及欧洲等海外市场正在建设更多项目。</blockquote></p><p> 80% of Plug Power's customers are what the company calls blue chip customers, which includes companies such as Amazon (AMZN). These companies are oftentimes highly inclined to improve their CO2 footprint in order to receive better ESG ratings, and at the same time, these are low-risk customers as their strong balance sheets and cash flows mean that the risk of liquidity or solvency issues is negligible. Overall, Plug Power thus works with attractive counterparts, and their financial firepower means that Plug Power is not forced to sell its products at bargain prices, which is why the company has been able to generate relatively attractive product gross margins in the 30s in recent quarters.</p><p><blockquote>普拉格能源80%的客户是该公司的评级蓝筹客户，其中包括亚马逊（AMZN）等公司。这些公司通常非常倾向于改善其二氧化碳足迹，以获得更好的ESG评级，同时，这些公司是低风险客户，因为其强劲的资产负债表和现金流意味着流动性或偿付能力问题的风险可以忽略不计。总体而言，普拉格能源因此与有吸引力的同行合作，他们的财务火力意味着普拉格能源不会被迫以便宜的价格出售其产品，这就是为什么该公司最近几个季度能够产生相对有吸引力的产品毛利率在30年代。</blockquote></p><p></p><p> Due to the still relatively small scale of the company, Plug Power is not profitable on a net basis or operating basis, however. The company's operating expenses, relative to the revenues that Plug Power generates, are still too high for now. This should, however, change over time, as operating leverage and improving product margins should allow Plug Power to grow gross profits relative to operating expenses, which will result in improving profitability. Analysts are currently predicting positive net profits for fiscal 2024, or three years from now. It would, of course, be better if Plug Power had hit that point already, but for long-term oriented investors, two more years of negative profits will not be a disaster.</p><p><blockquote>然而，由于公司规模仍然相对较小，普拉格能源在净利润或运营基础上均未盈利。相对于普拉格能源产生的收入，该公司的运营费用目前仍然过高。然而，这种情况应该会随着时间的推移而改变，因为运营杠杆和产品利润率的提高应该会使普拉格能源的毛利润相对于运营费用增长，从而提高盈利能力。分析师目前预测2024财年（即三年后）净利润为正。当然，如果普拉格能源已经达到了这一点，那就更好了，但对于长期投资者来说，再有两年的负利润并不是一场灾难。</blockquote></p><p> When investing in a company such as Plug Power, the very near term is not too relevant, but what matters more is the longer-term potential of the company to grow its revenue and profits. Through the combination of ESG tailwinds, massive market growth, and its market leadership position, Plug Power seems to be well-positioned to grow its revenue for many years to come:</p><p><blockquote>在投资普拉格能源这样的公司时，短期并不太重要，但更重要的是公司收入和利润增长的长期潜力。通过ESG顺风、大规模市场增长及其市场领导地位的结合，普拉格能源似乎处于有利地位，可以在未来许多年增加收入：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4d6f0576ba51f219d85b18d90ccaf6f4\" tg-width=\"640\" tg-height=\"628\" width=\"100%\" height=\"auto\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Analysts are currently predicting that revenues will grow at 50%+ a year over the next three years, while growth is forecasted to remain almost 30% through at least 2030, which equates to a highly attractive long-term growth outlook. There are, of course, no guarantees that this will indeed happen, as some risks to the business model remain. The company is not profitable yet, thus funding of future growth projects could theoretically become a problem. On top of that, it is possible that other players with deep pockets will try to disrupt the market or gain market share. The risk of that is, I believe, due to Plug Power's leadership position, not very large. But should the market become more competitive, non-profitable Plug Power might run into problems if it were to run into market share fights that could pressure margins.</p><p><blockquote>分析师目前预测，未来三年收入将以每年50%以上的速度增长，而至少到2030年，增长率预计将保持近30%，这相当于极具吸引力的长期增长前景。当然，不能保证这种情况确实会发生，因为商业模式的一些风险仍然存在。该公司尚未盈利，因此未来增长项目的资金理论上可能会成为一个问题。最重要的是，其他财力雄厚的参与者可能会试图扰乱市场或获得市场份额。我相信，由于普拉格能源的领导地位，这种风险并不是很大。但如果市场竞争变得更加激烈，非盈利的普拉格能源如果遭遇市场份额争夺战，可能会给利润率带来压力，可能会遇到问题。</blockquote></p><p> Some execution risks do thus remain for sure, and investors shouldn't see the above growth projections as crystal-clear forecasts that are infallible. Instead, however, the above predictions showcase what a base-case scenario could look like, and actual results might be better or worse than that. Overall, it can be said that the longer-term outlook for Plug Power's business is excellent, as the company should be able to grow at an attractive pace for many years to come, as investors, companies, and consumers put more and more emphasis on a smaller carbon footprint. Obvious growth prospects for an industry do not, however, automatically translate into share price gains. Those that bought shares of Cisco (CSCO) at the highs during the dot.com bubble, for example, are still in the red today, 22 years later, despite the massive growth the business has experienced in that time frame. Valuations should be considered as well, and Plug Power is far from cheap today.</p><p><blockquote>因此，一些执行风险确实仍然存在，投资者不应将上述增长预测视为绝对可靠的清晰预测。然而，相反，上述预测展示了基本情况可能是什么样子，实际结果可能比这更好或更差。总体而言，可以说普拉格能源业务的长期前景非常好，因为随着投资者、公司和消费者越来越重视更小的碳足迹，该公司应该能够在未来许多年以有吸引力的速度增长。然而，一个行业明显的增长前景并不会自动转化为股价上涨。例如，那些在互联网泡沫期间高位购买思科(CSCO)股票的公司，尽管该业务在此期间经历了巨大增长，但22年后的今天仍然处于亏损状态。估值也应该考虑，普拉格能源今天的价格远非便宜。</blockquote></p><p> <b>Plug Power Stock Forecast For 2030</b></p><p><blockquote><b>2030年普拉格能源股票预测</b></blockquote></p><p> Today, Plug Power is trading for around 32x this year's expected revenue. If that was an earnings multiple, the stock still wouldn't be especially cheap, relative to how the average company is valued. At more than 30x sales, shares do seem very expensive. When we consider PLUG's growth outlook over the coming decade, that is relativized to some degree, but I believe that shares are still trading above fair value.</p><p><blockquote>如今，普拉格能源的股价约为今年预期收入的32倍。如果这是市盈率，相对于公司的平均估值，该股仍然不会特别便宜。以超过30倍的销售额计算，股价确实看起来非常昂贵。当我们考虑PLUG未来十年的增长前景时，这在某种程度上是相对的，但我相信股价仍高于公允价值。</blockquote></p><p> If the analyst consensus estimate for 2030's revenues is correct, at $10.5 billion, then shares are trading at around 1.5x 2030's revenue right now. Many industrial names are trading for 1x to 2x this year's revenue right now, which indicates how much future growth is priced into PLUG's stock already. One can, of course, argue that PLUG's growth outlook in 2030 is likely still better than that of the average company today, as it seems very much possible for PLUG to grow at a double-digit rate well beyond 2030. But still, shares upside for PLUG's shares is not too great over the coming decade, I believe.</p><p><blockquote>如果分析师对2030年收入的一致估计是正确的，为105亿美元，那么目前股价的交易价格约为2030年收入的1.5倍。许多工业公司目前的交易价格是今年收入的1至2倍，这表明PLUG的股票已经反映了未来的增长。当然，人们可以说，PLUG在2030年的增长前景可能仍好于当今的普通公司，因为PLUG很有可能在2030年之后以两位数的速度增长。但我相信，PLUG股价在未来十年的上涨空间不会太大。</blockquote></p><p></p><p> If PLUG were to trade at a still relatively steep 3.5x revenue in 2030, this gets us to a market cap estimate of around $37billion, or roughly 2.3x as much as today. PLUG's share count will, however, not stay unchanged over the next decade, which is why returns on a per-share basis will be lower than that. If we assume that the share count climbs by just 2% a year, 2030's share count will stand at a little above 700 million. At a $37 billion market capitalization, each individual stock would then trade at around $53, which would mean a return of ~100% from today. On an annual basis, this would equate to returns of 8%. 8% annual returns are far from bad, but many things have to go right for that to happen -- PLUG has to execute well, deliver on growth projects, and avoid massive share issuance. When we also consider that this estimate requires a still rather high 3.5x sales multiple in 2030, then those returns are not great enough to warrant a buy rating, I believe. It would be different of 8% returns could come from a very de-risked blue chip with very low uncertainties, but that is not the case here. For reference, if PLUG executes well and hits growth estimates, but its shares trade for 2.5x sales in 2030, then the share price, assuming 2% annual dilution, would be $37, which would equate to just 4% annual returns. PLUG's share count has risen by around 50% over the last year alone, and even though I don't expect similar dilution in coming years, it is at least possible for PLUG's share count to rise by significantly more than 2% a year, which would pressure returns further.</p><p><blockquote>如果PLUG在2030年的交易收入仍然相对较高的3.5倍，那么我们的市值估计约为370亿美元，大约是今天的2.3倍。然而，PLUG的股票数量在未来十年不会保持不变，这就是为什么每股回报率将低于这一数字。如果我们假设股票数量每年仅增长2%，那么2030年的股票数量将略高于7亿股。在370亿美元的市值下，每只股票的交易价格约为53美元，这意味着从今天起的回报率约为100%。按年计算，这相当于8%的回报率。8%的年回报率远非坏事，但要实现这一目标，许多事情必须顺利进行——PLUG必须执行良好，交付增长项目，并避免大规模股票发行。当我们还考虑到这一估计需要2030年仍然相当高的3.5倍销售倍数时，我相信这些回报还不足以保证买入评级。8%的回报可能来自风险非常低、不确定性非常低的蓝筹股，但这里的情况并非如此。作为参考，如果PLUG执行良好并达到增长预期，但其股价在2030年的交易价格为销售额的2.5倍，那么假设年稀释2%，股价将为37美元，这相当于年回报率仅为4%。仅去年一年，PLUG的股票数量就增加了约50%，尽管我预计未来几年不会出现类似的稀释，但PLUG的股票数量至少有可能每年大幅增加2%以上，这将进一步给回报带来压力。</blockquote></p><p> Overall, I do not believe that investors will lose money with PLUG over the next decade or more. But I also do not believe that investors will see very attractive returns in that time frame, despite the fact that Plug Power's underlying business growth outlook is highly attractive. Shares are pricing in a lot of future growth already, and I believe that returns in the sub-10% range can also be generated through lower-risk investments, with less volatile stocks.</p><p><blockquote>总体而言，我不认为投资者在未来十年或更长时间内会因PLUG而亏损。但我也不相信投资者会在这段时间内看到非常有吸引力的回报，尽管普拉格能源的基本业务增长前景非常有吸引力。股票已经反映了未来的大量增长，我相信通过风险较低、股票波动性较小的投资也可以产生低于10%的回报。</blockquote></p><p> <b>Conclusion: Where Could Plug Power Be In 10 Years?</b></p><p><blockquote><b>结论：10年后普拉格能源会在哪里？</b></blockquote></p><p> One can't know that today, but we can make educated guesses. According to may scenarios laid out above, PLUG could trade at $37-$55 in 2030, factoring in another year of growth, we could end up at $40-$60 in 2031, I believe -- if many things go right. In case there are major hiccups with growth projects, or if the share count rises more than expected, these estimates may be too high.</p><p><blockquote>今天人们无法知道这一点，但我们可以做出有根据的猜测。根据上面列出的5月份情景，PLUG在2030年的交易价格可能为37-55美元，考虑到又一年的增长，我相信，如果很多事情进展顺利，我们在2031年的交易价格可能会达到40-60美元。如果增长项目出现重大问题，或者股票数量增长超过预期，这些估计可能会过高。</blockquote></p><p> Overall, I believe that there is considerable long-term upside potential for PLUG's shares, but expected returns in the mid-to-high-single digits range are not gigantic, and the same returns can be generated through more mature, less volatile investments with fewer uncertainties and less execution risk. I thus do think that PLUG is not a buy right here, even though I like the company's growth prospects and its position in an attractive industry.</p><p><blockquote>总体而言，我认为PLUG的股票有相当大的长期上涨潜力，但中高个位数范围的预期回报并不巨大，通过更成熟、波动性更小的投资可以产生相同的回报，不确定性更少，执行风险更小。因此，我确实认为PLUG在这里不值得买入，尽管我喜欢该公司的增长前景及其在有吸引力的行业中的地位。</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>Where Will Plug Power Be In 10 Years?<blockquote>10年后的普拉格能源会在哪里？</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\">\nWhere Will Plug Power Be In 10 Years?<blockquote>10年后的普拉格能源会在哪里？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-15 08:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Plug Power is active in an attractive industry with huge growth tailwinds.</li>  <li>It serves low-risk customers and has a strong position in its industry.</li>  <li>Shares are pricing in a lot of future growth, and investors should consider what actual per-share returns might look like before deploying money at current valuations.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fa1aea5535d99338f385c168062b218\" tg-width=\"1536\" tg-height=\"852\" referrerpolicy=\"no-referrer\"><span>Fokusiert/iStock via Getty Images</span></p><p><blockquote><ul><li>普拉格能源活跃在一个具有巨大增长动力的有吸引力的行业中。</li><li>它服务于低风险客户，在行业中拥有强大的地位。</li><li>股价反映了未来的大量增长，投资者在以当前估值配置资金之前应该考虑实际每股回报可能是什么样子。</li></ul><p class=\"t-img-caption\"><span>Fokusiert/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Plug Power, Inc. (PLUG) is active in a high-growth industry, which translates into a strong long-term business growth outlook, as long as the company can capitalize on its goals and management executes well. The company is, however, not profitable yet, and the path to meaningful net profits holds some uncertainties still. Taking a longer-term view, we can expect that Plug Power will generate positive net profits despite the fact that shares are valuing the company at a relatively high current valuation. From a risk-reward standpoint, there may be better picks available, though, despite the fact that I believe that shares will trade materially higher in 2031.</p><p><blockquote>普拉格能源公司（PLUG）活跃于高增长行业，只要公司能够实现其目标并且管理层执行良好，这就意味着强劲的长期业务增长前景。然而，该公司尚未盈利，实现有意义的净利润的道路仍然存在一些不确定性。从更长远的角度来看，我们可以预计普拉格能源将产生正的净利润，尽管该公司目前的估值相对较高。不过，从风险回报的角度来看，可能有更好的选择，尽管我相信2031年股价将大幅走高。</blockquote></p><p> <b>Plug Power Stock Price</b></p><p><blockquote><b>普拉格能源股价</b></blockquote></p><p> Plug Power, Inc. has seen its share price move up and down violently over the last year:</p><p><blockquote>去年，普拉格能源公司的股价剧烈上下波动：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d940297249151eddcccf6440d20ef031\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Shares trade 130% higher than 12 months ago, but at the same time, shares trade at just one-third of the all-time high today. In early 2021, shares exploded upwards at a time when other renewable/new energy and related stocks, including EV plays, benefited from massive investor enthusiasm. Since then, enthusiasm seems to have cooled, and shares have reverted back to the $20s. At current prices, Plug Power, Inc. is valued at $16 billion based on a diluted share count of a little less than 600 million. Analysts are pretty bullish on the stock right now, as the consensus price target of $41 implies an upside potential of around 50% from current prices throughout the next year. It should be noted, however, that the analyst consensus price target has been lowered in recent months, and may continue to be lowered going forward. Due to non-existent profits PLUG can't be valued on an earnings basis, but shares trade for around 30x this year's revenue, which is quite expensive.</p><p><blockquote>股价比12个月前上涨了130%，但与此同时，股价仅为今天历史高点的三分之一。2021年初，其他可再生能源/新能源及相关股票（包括电动汽车）受益于投资者的巨大热情，股价大幅上涨。此后，热情似乎有所降温，股价又回到了20多美元。按目前价格计算，普拉格能源公司的估值为160亿美元，稀释后的股票数量略低于6亿股。分析师目前非常看好该股，因为41美元的一致目标价意味着明年较当前价格有50%左右的上涨潜力。但值得注意的是，近几个月来分析师一致的目标价已被下调，并且未来可能会继续下调。由于不存在利润，PLUG无法以盈利为基础进行估值，但股价约为今年收入的30倍，这相当昂贵。</blockquote></p><p> <b>Plug Power Stock Prediction</b></p><p><blockquote><b>普拉格能源股票预测</b></blockquote></p><p> Plug Power, Inc. is active in an absolute growth industry, as hydrogen fuel cells will see huge demand growth in coming years as they allow for an environmentally friendly alternative to other fuels. Plug Power, as a turnkey provider in a market leadership position for this technology, is well-positioned to capitalize on this megatrend. Through a network of global partnerships, including with Brookfield Renewable Partners (BEP), Plug Power is working on growing the green hydrogen industryglobally:</p><p><blockquote>普拉格能源公司活跃在一个绝对增长的行业，因为氢燃料电池将在未来几年看到巨大的需求增长，因为它们允许作为其他燃料的环保替代品。普拉格能源作为该技术市场领先地位的交钥匙供应商，完全有能力利用这一大趋势。通过包括Brookfield Renewable Partners(BEP)在内的全球合作伙伴网络，普拉格能源正在致力于在全球范围内发展绿色氢产业：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/91a8e3b57882e429c9eace431bd1f541\" tg-width=\"640\" tg-height=\"350\" width=\"100%\" height=\"auto\"><span>Source: Plug Power presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：普拉格能源演示</span></p></blockquote></p><p> Plug Power's green hydrogen can be used for powering trucks, busses, and other vehicles, while the company is also providing environmentally friendly alternatives to diesel generators in the megawatt scale range that can be used by utilities, for example. The company is, on top of that, also working on other ventures that are not ready to be commercialized yet, such as powering aircraft with hydrogen. Plug Power will have at least 5 hydrogen plants running in the US in 2024, i.e. three years from now, with more projects being in the pipeline both in the US and in overseas markets such as Europe.</p><p><blockquote>普拉格能源的绿色氢可用于为卡车、公共汽车和其他车辆提供动力，同时该公司还为公用事业公司使用的兆瓦级柴油发电机提供环保替代品。除此之外，该公司还致力于其他尚未准备好商业化的项目，例如用氢气为飞机提供动力。2024年，即三年后，普拉格能源将在美国运营至少5座氢气厂，美国以及欧洲等海外市场正在建设更多项目。</blockquote></p><p> 80% of Plug Power's customers are what the company calls blue chip customers, which includes companies such as Amazon (AMZN). These companies are oftentimes highly inclined to improve their CO2 footprint in order to receive better ESG ratings, and at the same time, these are low-risk customers as their strong balance sheets and cash flows mean that the risk of liquidity or solvency issues is negligible. Overall, Plug Power thus works with attractive counterparts, and their financial firepower means that Plug Power is not forced to sell its products at bargain prices, which is why the company has been able to generate relatively attractive product gross margins in the 30s in recent quarters.</p><p><blockquote>普拉格能源80%的客户是该公司的评级蓝筹客户，其中包括亚马逊（AMZN）等公司。这些公司通常非常倾向于改善其二氧化碳足迹，以获得更好的ESG评级，同时，这些公司是低风险客户，因为其强劲的资产负债表和现金流意味着流动性或偿付能力问题的风险可以忽略不计。总体而言，普拉格能源因此与有吸引力的同行合作，他们的财务火力意味着普拉格能源不会被迫以便宜的价格出售其产品，这就是为什么该公司最近几个季度能够产生相对有吸引力的产品毛利率在30年代。</blockquote></p><p></p><p> Due to the still relatively small scale of the company, Plug Power is not profitable on a net basis or operating basis, however. The company's operating expenses, relative to the revenues that Plug Power generates, are still too high for now. This should, however, change over time, as operating leverage and improving product margins should allow Plug Power to grow gross profits relative to operating expenses, which will result in improving profitability. Analysts are currently predicting positive net profits for fiscal 2024, or three years from now. It would, of course, be better if Plug Power had hit that point already, but for long-term oriented investors, two more years of negative profits will not be a disaster.</p><p><blockquote>然而，由于公司规模仍然相对较小，普拉格能源在净利润或运营基础上均未盈利。相对于普拉格能源产生的收入，该公司的运营费用目前仍然过高。然而，这种情况应该会随着时间的推移而改变，因为运营杠杆和产品利润率的提高应该会使普拉格能源的毛利润相对于运营费用增长，从而提高盈利能力。分析师目前预测2024财年（即三年后）净利润为正。当然，如果普拉格能源已经达到了这一点，那就更好了，但对于长期投资者来说，再有两年的负利润并不是一场灾难。</blockquote></p><p> When investing in a company such as Plug Power, the very near term is not too relevant, but what matters more is the longer-term potential of the company to grow its revenue and profits. Through the combination of ESG tailwinds, massive market growth, and its market leadership position, Plug Power seems to be well-positioned to grow its revenue for many years to come:</p><p><blockquote>在投资普拉格能源这样的公司时，短期并不太重要，但更重要的是公司收入和利润增长的长期潜力。通过ESG顺风、大规模市场增长及其市场领导地位的结合，普拉格能源似乎处于有利地位，可以在未来许多年增加收入：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4d6f0576ba51f219d85b18d90ccaf6f4\" tg-width=\"640\" tg-height=\"628\" width=\"100%\" height=\"auto\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Analysts are currently predicting that revenues will grow at 50%+ a year over the next three years, while growth is forecasted to remain almost 30% through at least 2030, which equates to a highly attractive long-term growth outlook. There are, of course, no guarantees that this will indeed happen, as some risks to the business model remain. The company is not profitable yet, thus funding of future growth projects could theoretically become a problem. On top of that, it is possible that other players with deep pockets will try to disrupt the market or gain market share. The risk of that is, I believe, due to Plug Power's leadership position, not very large. But should the market become more competitive, non-profitable Plug Power might run into problems if it were to run into market share fights that could pressure margins.</p><p><blockquote>分析师目前预测，未来三年收入将以每年50%以上的速度增长，而至少到2030年，增长率预计将保持近30%，这相当于极具吸引力的长期增长前景。当然，不能保证这种情况确实会发生，因为商业模式的一些风险仍然存在。该公司尚未盈利，因此未来增长项目的资金理论上可能会成为一个问题。最重要的是，其他财力雄厚的参与者可能会试图扰乱市场或获得市场份额。我相信，由于普拉格能源的领导地位，这种风险并不是很大。但如果市场竞争变得更加激烈，非盈利的普拉格能源如果遭遇市场份额争夺战，可能会给利润率带来压力，可能会遇到问题。</blockquote></p><p> Some execution risks do thus remain for sure, and investors shouldn't see the above growth projections as crystal-clear forecasts that are infallible. Instead, however, the above predictions showcase what a base-case scenario could look like, and actual results might be better or worse than that. Overall, it can be said that the longer-term outlook for Plug Power's business is excellent, as the company should be able to grow at an attractive pace for many years to come, as investors, companies, and consumers put more and more emphasis on a smaller carbon footprint. Obvious growth prospects for an industry do not, however, automatically translate into share price gains. Those that bought shares of Cisco (CSCO) at the highs during the dot.com bubble, for example, are still in the red today, 22 years later, despite the massive growth the business has experienced in that time frame. Valuations should be considered as well, and Plug Power is far from cheap today.</p><p><blockquote>因此，一些执行风险确实仍然存在，投资者不应将上述增长预测视为绝对可靠的清晰预测。然而，相反，上述预测展示了基本情况可能是什么样子，实际结果可能比这更好或更差。总体而言，可以说普拉格能源业务的长期前景非常好，因为随着投资者、公司和消费者越来越重视更小的碳足迹，该公司应该能够在未来许多年以有吸引力的速度增长。然而，一个行业明显的增长前景并不会自动转化为股价上涨。例如，那些在互联网泡沫期间高位购买思科(CSCO)股票的公司，尽管该业务在此期间经历了巨大增长，但22年后的今天仍然处于亏损状态。估值也应该考虑，普拉格能源今天的价格远非便宜。</blockquote></p><p> <b>Plug Power Stock Forecast For 2030</b></p><p><blockquote><b>2030年普拉格能源股票预测</b></blockquote></p><p> Today, Plug Power is trading for around 32x this year's expected revenue. If that was an earnings multiple, the stock still wouldn't be especially cheap, relative to how the average company is valued. At more than 30x sales, shares do seem very expensive. When we consider PLUG's growth outlook over the coming decade, that is relativized to some degree, but I believe that shares are still trading above fair value.</p><p><blockquote>如今，普拉格能源的股价约为今年预期收入的32倍。如果这是市盈率，相对于公司的平均估值，该股仍然不会特别便宜。以超过30倍的销售额计算，股价确实看起来非常昂贵。当我们考虑PLUG未来十年的增长前景时，这在某种程度上是相对的，但我相信股价仍高于公允价值。</blockquote></p><p> If the analyst consensus estimate for 2030's revenues is correct, at $10.5 billion, then shares are trading at around 1.5x 2030's revenue right now. Many industrial names are trading for 1x to 2x this year's revenue right now, which indicates how much future growth is priced into PLUG's stock already. One can, of course, argue that PLUG's growth outlook in 2030 is likely still better than that of the average company today, as it seems very much possible for PLUG to grow at a double-digit rate well beyond 2030. But still, shares upside for PLUG's shares is not too great over the coming decade, I believe.</p><p><blockquote>如果分析师对2030年收入的一致估计是正确的，为105亿美元，那么目前股价的交易价格约为2030年收入的1.5倍。许多工业公司目前的交易价格是今年收入的1至2倍，这表明PLUG的股票已经反映了未来的增长。当然，人们可以说，PLUG在2030年的增长前景可能仍好于当今的普通公司，因为PLUG很有可能在2030年之后以两位数的速度增长。但我相信，PLUG股价在未来十年的上涨空间不会太大。</blockquote></p><p></p><p> If PLUG were to trade at a still relatively steep 3.5x revenue in 2030, this gets us to a market cap estimate of around $37billion, or roughly 2.3x as much as today. PLUG's share count will, however, not stay unchanged over the next decade, which is why returns on a per-share basis will be lower than that. If we assume that the share count climbs by just 2% a year, 2030's share count will stand at a little above 700 million. At a $37 billion market capitalization, each individual stock would then trade at around $53, which would mean a return of ~100% from today. On an annual basis, this would equate to returns of 8%. 8% annual returns are far from bad, but many things have to go right for that to happen -- PLUG has to execute well, deliver on growth projects, and avoid massive share issuance. When we also consider that this estimate requires a still rather high 3.5x sales multiple in 2030, then those returns are not great enough to warrant a buy rating, I believe. It would be different of 8% returns could come from a very de-risked blue chip with very low uncertainties, but that is not the case here. For reference, if PLUG executes well and hits growth estimates, but its shares trade for 2.5x sales in 2030, then the share price, assuming 2% annual dilution, would be $37, which would equate to just 4% annual returns. PLUG's share count has risen by around 50% over the last year alone, and even though I don't expect similar dilution in coming years, it is at least possible for PLUG's share count to rise by significantly more than 2% a year, which would pressure returns further.</p><p><blockquote>如果PLUG在2030年的交易收入仍然相对较高的3.5倍，那么我们的市值估计约为370亿美元，大约是今天的2.3倍。然而，PLUG的股票数量在未来十年不会保持不变，这就是为什么每股回报率将低于这一数字。如果我们假设股票数量每年仅增长2%，那么2030年的股票数量将略高于7亿股。在370亿美元的市值下，每只股票的交易价格约为53美元，这意味着从今天起的回报率约为100%。按年计算，这相当于8%的回报率。8%的年回报率远非坏事，但要实现这一目标，许多事情必须顺利进行——PLUG必须执行良好，交付增长项目，并避免大规模股票发行。当我们还考虑到这一估计需要2030年仍然相当高的3.5倍销售倍数时，我相信这些回报还不足以保证买入评级。8%的回报可能来自风险非常低、不确定性非常低的蓝筹股，但这里的情况并非如此。作为参考，如果PLUG执行良好并达到增长预期，但其股价在2030年的交易价格为销售额的2.5倍，那么假设年稀释2%，股价将为37美元，这相当于年回报率仅为4%。仅去年一年，PLUG的股票数量就增加了约50%，尽管我预计未来几年不会出现类似的稀释，但PLUG的股票数量至少有可能每年大幅增加2%以上，这将进一步给回报带来压力。</blockquote></p><p> Overall, I do not believe that investors will lose money with PLUG over the next decade or more. But I also do not believe that investors will see very attractive returns in that time frame, despite the fact that Plug Power's underlying business growth outlook is highly attractive. Shares are pricing in a lot of future growth already, and I believe that returns in the sub-10% range can also be generated through lower-risk investments, with less volatile stocks.</p><p><blockquote>总体而言，我不认为投资者在未来十年或更长时间内会因PLUG而亏损。但我也不相信投资者会在这段时间内看到非常有吸引力的回报，尽管普拉格能源的基本业务增长前景非常有吸引力。股票已经反映了未来的大量增长，我相信通过风险较低、股票波动性较小的投资也可以产生低于10%的回报。</blockquote></p><p> <b>Conclusion: Where Could Plug Power Be In 10 Years?</b></p><p><blockquote><b>结论：10年后普拉格能源会在哪里？</b></blockquote></p><p> One can't know that today, but we can make educated guesses. According to may scenarios laid out above, PLUG could trade at $37-$55 in 2030, factoring in another year of growth, we could end up at $40-$60 in 2031, I believe -- if many things go right. In case there are major hiccups with growth projects, or if the share count rises more than expected, these estimates may be too high.</p><p><blockquote>今天人们无法知道这一点，但我们可以做出有根据的猜测。根据上面列出的5月份情景，PLUG在2030年的交易价格可能为37-55美元，考虑到又一年的增长，我相信，如果很多事情进展顺利，我们在2031年的交易价格可能会达到40-60美元。如果增长项目出现重大问题，或者股票数量增长超过预期，这些估计可能会过高。</blockquote></p><p> Overall, I believe that there is considerable long-term upside potential for PLUG's shares, but expected returns in the mid-to-high-single digits range are not gigantic, and the same returns can be generated through more mature, less volatile investments with fewer uncertainties and less execution risk. I thus do think that PLUG is not a buy right here, even though I like the company's growth prospects and its position in an attractive industry.</p><p><blockquote>总体而言，我认为PLUG的股票有相当大的长期上涨潜力，但中高个位数范围的预期回报并不巨大，通过更成熟、波动性更小的投资可以产生相同的回报，不确定性更少，执行风险更小。因此，我确实认为PLUG在这里不值得买入，尽管我喜欢该公司的增长前景及其在有吸引力的行业中的地位。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4449266-plug-power-stock-in-10-years\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLUG":"普拉格能源"},"source_url":"https://seekingalpha.com/article/4449266-plug-power-stock-in-10-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133270372","content_text":"Summary\n\nPlug Power is active in an attractive industry with huge growth tailwinds.\nIt serves low-risk customers and has a strong position in its industry.\nShares are pricing in a lot of future growth, and investors should consider what actual per-share returns might look like before deploying money at current valuations.\n\nFokusiert/iStock via Getty Images\nArticle Thesis\nPlug Power, Inc. (PLUG) is active in a high-growth industry, which translates into a strong long-term business growth outlook, as long as the company can capitalize on its goals and management executes well. The company is, however, not profitable yet, and the path to meaningful net profits holds some uncertainties still. Taking a longer-term view, we can expect that Plug Power will generate positive net profits despite the fact that shares are valuing the company at a relatively high current valuation. From a risk-reward standpoint, there may be better picks available, though, despite the fact that I believe that shares will trade materially higher in 2031.\nPlug Power Stock Price\nPlug Power, Inc. has seen its share price move up and down violently over the last year:\nData by YCharts\nShares trade 130% higher than 12 months ago, but at the same time, shares trade at just one-third of the all-time high today. In early 2021, shares exploded upwards at a time when other renewable/new energy and related stocks, including EV plays, benefited from massive investor enthusiasm. Since then, enthusiasm seems to have cooled, and shares have reverted back to the $20s. At current prices, Plug Power, Inc. is valued at $16 billion based on a diluted share count of a little less than 600 million. Analysts are pretty bullish on the stock right now, as the consensus price target of $41 implies an upside potential of around 50% from current prices throughout the next year. It should be noted, however, that the analyst consensus price target has been lowered in recent months, and may continue to be lowered going forward. Due to non-existent profits PLUG can't be valued on an earnings basis, but shares trade for around 30x this year's revenue, which is quite expensive.\nPlug Power Stock Prediction\nPlug Power, Inc. is active in an absolute growth industry, as hydrogen fuel cells will see huge demand growth in coming years as they allow for an environmentally friendly alternative to other fuels. Plug Power, as a turnkey provider in a market leadership position for this technology, is well-positioned to capitalize on this megatrend. Through a network of global partnerships, including with Brookfield Renewable Partners (BEP), Plug Power is working on growing the green hydrogen industryglobally:\nSource: Plug Power presentation\nPlug Power's green hydrogen can be used for powering trucks, busses, and other vehicles, while the company is also providing environmentally friendly alternatives to diesel generators in the megawatt scale range that can be used by utilities, for example. The company is, on top of that, also working on other ventures that are not ready to be commercialized yet, such as powering aircraft with hydrogen. Plug Power will have at least 5 hydrogen plants running in the US in 2024, i.e. three years from now, with more projects being in the pipeline both in the US and in overseas markets such as Europe.\n80% of Plug Power's customers are what the company calls blue chip customers, which includes companies such as Amazon (AMZN). These companies are oftentimes highly inclined to improve their CO2 footprint in order to receive better ESG ratings, and at the same time, these are low-risk customers as their strong balance sheets and cash flows mean that the risk of liquidity or solvency issues is negligible. Overall, Plug Power thus works with attractive counterparts, and their financial firepower means that Plug Power is not forced to sell its products at bargain prices, which is why the company has been able to generate relatively attractive product gross margins in the 30s in recent quarters.\nDue to the still relatively small scale of the company, Plug Power is not profitable on a net basis or operating basis, however. The company's operating expenses, relative to the revenues that Plug Power generates, are still too high for now. This should, however, change over time, as operating leverage and improving product margins should allow Plug Power to grow gross profits relative to operating expenses, which will result in improving profitability. Analysts are currently predicting positive net profits for fiscal 2024, or three years from now. It would, of course, be better if Plug Power had hit that point already, but for long-term oriented investors, two more years of negative profits will not be a disaster.\nWhen investing in a company such as Plug Power, the very near term is not too relevant, but what matters more is the longer-term potential of the company to grow its revenue and profits. Through the combination of ESG tailwinds, massive market growth, and its market leadership position, Plug Power seems to be well-positioned to grow its revenue for many years to come:\nSource:Seeking Alpha\nAnalysts are currently predicting that revenues will grow at 50%+ a year over the next three years, while growth is forecasted to remain almost 30% through at least 2030, which equates to a highly attractive long-term growth outlook. There are, of course, no guarantees that this will indeed happen, as some risks to the business model remain. The company is not profitable yet, thus funding of future growth projects could theoretically become a problem. On top of that, it is possible that other players with deep pockets will try to disrupt the market or gain market share. The risk of that is, I believe, due to Plug Power's leadership position, not very large. But should the market become more competitive, non-profitable Plug Power might run into problems if it were to run into market share fights that could pressure margins.\nSome execution risks do thus remain for sure, and investors shouldn't see the above growth projections as crystal-clear forecasts that are infallible. Instead, however, the above predictions showcase what a base-case scenario could look like, and actual results might be better or worse than that. Overall, it can be said that the longer-term outlook for Plug Power's business is excellent, as the company should be able to grow at an attractive pace for many years to come, as investors, companies, and consumers put more and more emphasis on a smaller carbon footprint. Obvious growth prospects for an industry do not, however, automatically translate into share price gains. Those that bought shares of Cisco (CSCO) at the highs during the dot.com bubble, for example, are still in the red today, 22 years later, despite the massive growth the business has experienced in that time frame. Valuations should be considered as well, and Plug Power is far from cheap today.\nPlug Power Stock Forecast For 2030\nToday, Plug Power is trading for around 32x this year's expected revenue. If that was an earnings multiple, the stock still wouldn't be especially cheap, relative to how the average company is valued. At more than 30x sales, shares do seem very expensive. When we consider PLUG's growth outlook over the coming decade, that is relativized to some degree, but I believe that shares are still trading above fair value.\nIf the analyst consensus estimate for 2030's revenues is correct, at $10.5 billion, then shares are trading at around 1.5x 2030's revenue right now. Many industrial names are trading for 1x to 2x this year's revenue right now, which indicates how much future growth is priced into PLUG's stock already. One can, of course, argue that PLUG's growth outlook in 2030 is likely still better than that of the average company today, as it seems very much possible for PLUG to grow at a double-digit rate well beyond 2030. But still, shares upside for PLUG's shares is not too great over the coming decade, I believe.\nIf PLUG were to trade at a still relatively steep 3.5x revenue in 2030, this gets us to a market cap estimate of around $37billion, or roughly 2.3x as much as today. PLUG's share count will, however, not stay unchanged over the next decade, which is why returns on a per-share basis will be lower than that. If we assume that the share count climbs by just 2% a year, 2030's share count will stand at a little above 700 million. At a $37 billion market capitalization, each individual stock would then trade at around $53, which would mean a return of ~100% from today. On an annual basis, this would equate to returns of 8%. 8% annual returns are far from bad, but many things have to go right for that to happen -- PLUG has to execute well, deliver on growth projects, and avoid massive share issuance. When we also consider that this estimate requires a still rather high 3.5x sales multiple in 2030, then those returns are not great enough to warrant a buy rating, I believe. It would be different of 8% returns could come from a very de-risked blue chip with very low uncertainties, but that is not the case here. For reference, if PLUG executes well and hits growth estimates, but its shares trade for 2.5x sales in 2030, then the share price, assuming 2% annual dilution, would be $37, which would equate to just 4% annual returns. PLUG's share count has risen by around 50% over the last year alone, and even though I don't expect similar dilution in coming years, it is at least possible for PLUG's share count to rise by significantly more than 2% a year, which would pressure returns further.\nOverall, I do not believe that investors will lose money with PLUG over the next decade or more. But I also do not believe that investors will see very attractive returns in that time frame, despite the fact that Plug Power's underlying business growth outlook is highly attractive. Shares are pricing in a lot of future growth already, and I believe that returns in the sub-10% range can also be generated through lower-risk investments, with less volatile stocks.\nConclusion: Where Could Plug Power Be In 10 Years?\nOne can't know that today, but we can make educated guesses. According to may scenarios laid out above, PLUG could trade at $37-$55 in 2030, factoring in another year of growth, we could end up at $40-$60 in 2031, I believe -- if many things go right. In case there are major hiccups with growth projects, or if the share count rises more than expected, these estimates may be too high.\nOverall, I believe that there is considerable long-term upside potential for PLUG's shares, but expected returns in the mid-to-high-single digits range are not gigantic, and the same returns can be generated through more mature, less volatile investments with fewer uncertainties and less execution risk. I thus do think that PLUG is not a buy right here, even though I like the company's growth prospects and its position in an attractive industry.","news_type":1,"symbols_score_info":{"PLUG":0.9}},"isVote":1,"tweetType":1,"viewCount":442,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176983519,"gmtCreate":1626854594231,"gmtModify":1633770390722,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SE\">$SEA LTD(SE)$</a>SEA SAW","listText":"<a href=\"https://laohu8.com/S/SE\">$SEA LTD(SE)$</a>SEA SAW","text":"$SEA LTD(SE)$SEA 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S.A.(SPOT)$Hmm","images":[{"img":"https://static.tigerbbs.com/6f5e7562c24cbb8cd16f17a4ea27cec5","width":"750","height":"1224"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":1,"link":"https://laohu8.com/post/156697232","isVote":1,"tweetType":1,"viewCount":611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":120309378,"gmtCreate":1624294780794,"gmtModify":1634008201851,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/120309378","repostId":"1154361270","repostType":4,"isVote":1,"tweetType":1,"viewCount":183,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161055845,"gmtCreate":1623897772887,"gmtModify":1634026173938,"author":{"id":"3575931476822699","authorId":"3575931476822699","name":"Zified","avatar":"https://static.tigerbbs.com/2504476ab9db7b38867d7694e9c634e7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575931476822699","authorIdStr":"3575931476822699"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/161055845","repostId":"1192239171","repostType":4,"repost":{"id":"1192239171","kind":"news","pubTimestamp":1623896975,"share":"https://www.laohu8.com/m/news/1192239171?lang=zh_CN&edition=full","pubTime":"2021-06-17 10:29","market":"us","language":"en","title":"Skillz Is Likely To Be On The Reddit Menu<blockquote>Skillz可能会出现在Reddit菜单上</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1192239171","media":"seekingalpha","summary":"Summary\n\nSkillz is growing rapidly, with the potential for sales to accelerate as the company enhanc","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Skillz is growing rapidly, with the potential for sales to accelerate as the company enhances monetization and completes the Aarki acquisition.</li>  <li>The company enjoys fantastic margins which should lead to profitability without much struggle. Skillz has enough firepower to sustain several money-losing quarters without any dilution, regardless.</li>  <li>Additionally, the stock is position greatly for a short squeeze based on its technicals, at a time when the Reddit army is actively looking for such opportunities.</li>  <li>We are taking advantage of the increased volatility and high premiums to sell PUTs with the potential for massive returns.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17fc8399c8d3c4d438768450d993051e\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Geber86/E+ via Getty Images</span></p><p><blockquote><ul><li>Skillz正在快速增长，随着公司加强货币化并完成对Aarki的收购，销售额有可能加速增长。</li><li>该公司享有惊人的利润率，这应该会毫不费力地实现盈利。无论如何，Skillz有足够的火力在没有任何稀释的情况下维持几个亏损季度。</li><li>此外，在Reddit大军正在积极寻找此类机会之际，根据其技术面，该股非常适合做空。</li><li>我们正在利用波动性增加和高溢价出售有可能获得巨额回报的看跌期权。</li></ul><p class=\"t-img-caption\"><span>Geber86/E+来自盖蒂图片社</span></p></blockquote></p><p> If you have been paying attention to market news lately, you may have noticed the short squeeze frenzy caused by Reddit's Wall Street Bets community. Wall St. Bets Redditors have collectively bought stocks featuring a high short interest in bulk, shooting the so-called \"meme stocks\" to the skies and beyond.</p><p><blockquote>如果你最近一直在关注市场新闻，你可能已经注意到了Reddit华尔街押注社区引发的轧空狂潮。华尔街押注Reddit用户集体购买了大宗空头兴趣较高的股票，将所谓的“模因股票”推向了天空甚至更远的地方。</blockquote></p><p> Examples include the following stocks:</p><p><blockquote>示例包括以下股票：</blockquote></p><p> <ul>  <li>Bed Bath &amp; Beyond(NASDAQ:BBBY)</li>  <li>BlackBerry(NYSE:BB)</li>  <li>Virgin Galactic(NYSE:SPCE)</li>  <li>Wendy's(NASDAQ:WEN)</li>  <li>Rocket Companies(NYSE:RKT)</li>  <li>ContextLogic(NASDAQ:WISH)</li>  <li>Palantir(NYSE:PLTR)</li>  <li>GameStop(NYSE:GME)</li> </ul> In this article, we want to share our thoughts on another highly shorted stock, Skillz (SKLZ), whose rapid growth and favorable technical indicators are likely to cause a short squeeze. This could send shares soaring in the short term as shorts begin purchasing stock in the panic of potentially higher losses.</p><p><blockquote><ul><li>Bed Bath&amp;Beyond（纳斯达克：BBBY）</li><li>黑莓（纽约证券交易所代码：BB）</li><li>维珍银河（纽约证券交易所代码：SPCE）</li><li>温蒂（纳斯达克：WEN）</li><li>火箭公司（纽约证券交易所代码：RKT）</li><li>ContextLogic（纳斯达克：WISH）</li><li>Palantir（纽约证券交易所代码：PLTR）</li><li>游戏驿站（纽约证券交易所代码：GME）</li></ul>在本文中，我们想分享我们对另一只被高度做空的股票Skillz（SKLZ）的想法，该股票的快速增长和有利的技术指标很可能会导致轧空。这可能会在短期内导致股价飙升，因为空头在潜在更高损失的恐慌中开始购买股票。</blockquote></p><p> The possibility that Skillz may become one of the next targets of the Wall Street Bets army due to its high short interest is certainly a welcome factor, though not one we necessarily rely on it.</p><p><blockquote>由于其高空头兴趣，Skillz可能成为华尔街押注大军的下一个目标之一，这当然是一个受欢迎的因素，尽管我们不一定依赖它。</blockquote></p><p> In this article, we won't go through Skillz's business model and growing ecosystem as many S.A. authors have already sufficiently explained the company's merits with great detail. Instead, let's examine why Skillz's growth rates and technical indicators are likely to cause a short squeeze and how we have set up our own position.</p><p><blockquote>在本文中，我们不会介绍Skillz的商业模式和不断增长的生态系统，因为许多S.A.作者已经非常详细地解释了该公司的优点。相反，让我们研究一下为什么Skillz的增长率和技术指标可能会导致轧空以及我们如何建立自己的头寸。</blockquote></p><p> <b>A rapidly growing company</b></p><p><blockquote><b>快速发展的公司</b></blockquote></p><p> Skillz&nbsp;deliveredanother quarter of strong performance in Q1, achieving its 21st consecutive quarter of revenue growth. The company generated 92% of revenue growth year-over-year, primarily as a result of 81% growth in paying monthly active users. In addition, we want to highlight that revenue growth was much more substantial than the one achieved in Q1-2020 (67%), suggesting an acceleration.</p><p><blockquote>Skillz在第一季度又一个季度表现强劲，实现了连续21个季度的收入增长。该公司的收入同比增长了92%，主要是由于付费月活跃用户增长了81%。此外，我们想强调的是，收入增长比2020年第一季度的增长（67%）要强劲得多，这表明收入增长正在加速。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b50edacf11accd9b32fd5c3dc7b8e15\" tg-width=\"640\" tg-height=\"320\"><span>Source:Q1 Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第一季度演示</span></p></blockquote></p><p> Hence, the revenue growth projected by analysts over the next couple of years seems a bit gloomier than it should. Especially considering that the company has not even begun monetizing its non-paying users, which could accelerate revenue growth further if it decided to do so.</p><p><blockquote>因此，分析师预测的未来几年收入增长似乎比预期的要黯淡一些。特别是考虑到该公司甚至还没有开始将其非付费用户货币化，如果它决定这样做，可能会进一步加速收入增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/65d2f8e90727958c83f790fa5f157ce4\" tg-width=\"640\" tg-height=\"164\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> <i>As a side note, not monetizing its non-paying users also speaks of two qualities by the company worth. First, Skillz does not attempt to squeeze every bit of extra revenue immediately after its public listing to impress investors quickly. Secondly, the companyoptimizesits marketing budget to acquire paying users, not installs. This is very distinct from other mobile gaming companies that monetize via advertising, mindlessly trying to attract the largest number of eyeballs possible. This tells us that the company is in it for the long term, executing thoughtfully.</i></p><p><blockquote><i>顺便说一句，不将非付费用户货币化也说明了该公司的两个品质。首先，Skillz并不试图在公开上市后立即榨取每一点额外收入来迅速打动投资者。其次，该公司优化营销预算以获取付费用户，而不是安装。这与其他通过广告赚钱的移动游戏公司非常不同，他们盲目地试图吸引尽可能多的眼球。这告诉我们，公司是长期的，执行周到。</i></blockquote></p><p> In any case, analyst expectations make little sense based on the company's current growth trajectory, and we expect sales growth to be more substantial. Moreover, sales growth becomes even more exciting when we consider the company's potential profitability powered by its ultra high-margin business model. The company enjoys gross margins of 94%, which indicates plenty of room for a rich bottom line as the company continues to scale.</p><p><blockquote>无论如何，基于该公司目前的增长轨迹，分析师的预期意义不大，我们预计销售额增长将更加可观。此外，当我们考虑到该公司超高利润商业模式推动的潜在盈利能力时，销售增长变得更加令人兴奋。该公司的毛利率为94%，这表明随着公司规模的不断扩大，利润还有很大的空间。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7f0ae33838bdd16f867917a1fe90d9c3\" tg-width=\"640\" tg-height=\"315\"><span>Source:Q1 results</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第一季度业绩</span></p></blockquote></p><p></p><p> Finally, the company ended the quarter with a strong balance sheet, including $613 million of cash. The company also recently struck a&nbsp;deal&nbsp;to acquire Aarki for $150 in cash and stock (another catalyst for accelerated revenue growth) as well). Thus, even if the whole company was to be acquired in cash only, Skillz would still have enough gun powder to sustain several quarters of losses (at its current run rate) without the need to raise extra funds.</p><p><blockquote>最后，该公司在本季度末拥有强劲的资产负债表，其中包括6.13亿美元的现金。该公司最近还达成了一项协议，以150美元的现金和股票收购Aarki（这也是收入加速增长的另一个催化剂）。因此，即使仅以现金收购整个公司，Skillz仍有足够的火药来维持几个季度的亏损（以目前的运营速度），而无需筹集额外资金。</blockquote></p><p> We hence don't expect any further dilution, which could support the short case amid the additional sale of shares. This, of course, does not include dilution resulting from more acquisitions, which are going to (hopefully) benefit the company financially, and in which case they are welcome.</p><p><blockquote>因此，我们预计不会出现任何进一步的稀释，这可能会在额外出售股票的情况下支持做空情况。当然，这不包括更多收购导致的稀释，这些收购将（希望）使公司在财务上受益，在这种情况下，它们是受欢迎的。</blockquote></p><p> Finally, the company has no debt on its balance sheet to pressure its bottom line further. Considering the fat gross margins, it should not struggle to turn green if the company pursues the profitability road.</p><p><blockquote>最后，该公司的资产负债表上没有债务来进一步给其利润带来压力。考虑到丰厚的毛利率，如果公司追求盈利之路，应该不会很难实现绿色。</blockquote></p><p> When everything is taken into consideration, the stock could easily attract a higher valuation multiple. We believe that Skillz's revenue growth rate and juicy margins could easily support a P/S ratio of around 25, suggesting upside regardless of a possible short squeeze scenario.</p><p><blockquote>当考虑到所有因素时，该股票很容易吸引更高的估值倍数。我们认为，Skillz的收入增长率和丰厚的利润率可以轻松支撑25左右的市盈率，这表明无论可能出现轧空情况如何，都有上涨空间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0bd7d35a8374e6800e160c33fa12607a\" tg-width=\"640\" tg-height=\"331\"></p><p><blockquote></blockquote></p><p> <b>The technicals and our play</b></p><p><blockquote><b>技术和我们的发挥</b></blockquote></p><p> Now, let's move to the technicals, which, combined with Skillz's growth metrics and healthy financials, could result in a short interest decline in the short term.</p><p><blockquote>现在，让我们转向技术面，结合Skillz的增长指标和健康的财务状况，可能会导致短期内空头兴趣下降。</blockquote></p><p> Firstly, we chose to sell PUTs to take advantage of the stock's high volatility, which translates to higher premiums. By selling PUTs here, we are finding the optimum point between a low price (of the underlying stock) and the high volatility (normally, there is a trade-off between the two.)</p><p><blockquote>首先，我们选择卖出看跌期权以利用股票的高波动性，这意味着更高的溢价。通过在这里卖出看跌期权，我们找到了（标的股票的）低价和高波动性之间的最佳点（通常，两者之间存在权衡。）</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ca5826ab6b6cddd6817a265b9bbcc01c\" tg-width=\"635\" tg-height=\"419\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Then we are checking most (in this case, all) the main (technical) boxes. One could argue that these don't guarantee anything, of course, but the technicals here are surely looking encouraging.</p><p><blockquote>然后，我们检查大多数（在本例中，所有）主要（技术）框。当然，有人可能会说这些并不能保证任何事情，但这里的技术面看起来确实令人鼓舞。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7748749c82392cdecc305f45b2b008ea\" tg-width=\"635\" tg-height=\"436\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Then, we are checking the stock's short interest, which is peaking/has peaked.</p><p><blockquote>然后，我们正在检查该股票的空头利息，该利息正在见顶/已经见顶。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34ad6765006c4cc62f648a511949788b\" tg-width=\"635\" tg-height=\"419\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Everything combined creates the perfect setup for a short squeeze at a time when the Reddit army is attacking anything that looks like a potential.</p><p><blockquote>当Reddit大军正在攻击任何看起来有潜力的东西时，一切结合在一起，为空头挤压创造了完美的设置。</blockquote></p><p> However, we are always aiming for an additional margin of safety to mitigate our risk and narrow our total return expectations. By selling PUTs, we are not jumping in at all costs. Either making massive returns (see below) on these short-term options or buying the stock at a lower price while enhancing the predictability of our total returns.</p><p><blockquote>然而，我们始终致力于获得额外的安全边际，以降低风险并缩小总回报预期。通过卖出看跌期权，我们不会不惜一切代价买入。要么通过这些短期期权获得巨额回报（见下文），要么以较低的价格购买股票，同时提高我们总回报的可预测性。</blockquote></p><p> Here are the possible scenarios out of selling our PUTs:</p><p><blockquote>以下是出售看跌期权的可能情况：</blockquote></p><p> <ul>  <li><b>SELL (to open) SKLZ 07/16/2021 22.50 PUT @ $4.20</b></li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8d112fde75fe80aa1197e23191c3885f\" tg-width=\"640\" tg-height=\"433\"><span>Source: Author</span></p><p><blockquote><ul><li><b>卖出（开仓）SKLZ 07/16/2021 22.50 PUT@$4.20</b></li></ul><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> <ul>  <li><b>SELL (to open) SKLZ 08/20/2021 22.50 PUT @ $5.50</b></li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1417a9a5e822d9bb64cbf94ac169ab00\" tg-width=\"640\" tg-height=\"430\"><span>Source: Author</span></p><p><blockquote><ul><li><b>卖出（开仓）SKLZ 08/20/2021 22.50 PUT@$5.50</b></li></ul><p class=\"t-img-caption\"><span>来源：作者</span></p></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>Skillz Is Likely To Be On The Reddit Menu<blockquote>Skillz可能会出现在Reddit菜单上</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\">\nSkillz Is Likely To Be On The Reddit Menu<blockquote>Skillz可能会出现在Reddit菜单上</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-17 10:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Skillz is growing rapidly, with the potential for sales to accelerate as the company enhances monetization and completes the Aarki acquisition.</li>  <li>The company enjoys fantastic margins which should lead to profitability without much struggle. Skillz has enough firepower to sustain several money-losing quarters without any dilution, regardless.</li>  <li>Additionally, the stock is position greatly for a short squeeze based on its technicals, at a time when the Reddit army is actively looking for such opportunities.</li>  <li>We are taking advantage of the increased volatility and high premiums to sell PUTs with the potential for massive returns.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17fc8399c8d3c4d438768450d993051e\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Geber86/E+ via Getty Images</span></p><p><blockquote><ul><li>Skillz正在快速增长，随着公司加强货币化并完成对Aarki的收购，销售额有可能加速增长。</li><li>该公司享有惊人的利润率，这应该会毫不费力地实现盈利。无论如何，Skillz有足够的火力在没有任何稀释的情况下维持几个亏损季度。</li><li>此外，在Reddit大军正在积极寻找此类机会之际，根据其技术面，该股非常适合做空。</li><li>我们正在利用波动性增加和高溢价出售有可能获得巨额回报的看跌期权。</li></ul><p class=\"t-img-caption\"><span>Geber86/E+来自盖蒂图片社</span></p></blockquote></p><p> If you have been paying attention to market news lately, you may have noticed the short squeeze frenzy caused by Reddit's Wall Street Bets community. Wall St. Bets Redditors have collectively bought stocks featuring a high short interest in bulk, shooting the so-called \"meme stocks\" to the skies and beyond.</p><p><blockquote>如果你最近一直在关注市场新闻，你可能已经注意到了Reddit华尔街押注社区引发的轧空狂潮。华尔街押注Reddit用户集体购买了大宗空头兴趣较高的股票，将所谓的“模因股票”推向了天空甚至更远的地方。</blockquote></p><p> Examples include the following stocks:</p><p><blockquote>示例包括以下股票：</blockquote></p><p> <ul>  <li>Bed Bath &amp; Beyond(NASDAQ:BBBY)</li>  <li>BlackBerry(NYSE:BB)</li>  <li>Virgin Galactic(NYSE:SPCE)</li>  <li>Wendy's(NASDAQ:WEN)</li>  <li>Rocket Companies(NYSE:RKT)</li>  <li>ContextLogic(NASDAQ:WISH)</li>  <li>Palantir(NYSE:PLTR)</li>  <li>GameStop(NYSE:GME)</li> </ul> In this article, we want to share our thoughts on another highly shorted stock, Skillz (SKLZ), whose rapid growth and favorable technical indicators are likely to cause a short squeeze. This could send shares soaring in the short term as shorts begin purchasing stock in the panic of potentially higher losses.</p><p><blockquote><ul><li>Bed Bath&amp;Beyond（纳斯达克：BBBY）</li><li>黑莓（纽约证券交易所代码：BB）</li><li>维珍银河（纽约证券交易所代码：SPCE）</li><li>温蒂（纳斯达克：WEN）</li><li>火箭公司（纽约证券交易所代码：RKT）</li><li>ContextLogic（纳斯达克：WISH）</li><li>Palantir（纽约证券交易所代码：PLTR）</li><li>游戏驿站（纽约证券交易所代码：GME）</li></ul>在本文中，我们想分享我们对另一只被高度做空的股票Skillz（SKLZ）的想法，该股票的快速增长和有利的技术指标很可能会导致轧空。这可能会在短期内导致股价飙升，因为空头在潜在更高损失的恐慌中开始购买股票。</blockquote></p><p> The possibility that Skillz may become one of the next targets of the Wall Street Bets army due to its high short interest is certainly a welcome factor, though not one we necessarily rely on it.</p><p><blockquote>由于其高空头兴趣，Skillz可能成为华尔街押注大军的下一个目标之一，这当然是一个受欢迎的因素，尽管我们不一定依赖它。</blockquote></p><p> In this article, we won't go through Skillz's business model and growing ecosystem as many S.A. authors have already sufficiently explained the company's merits with great detail. Instead, let's examine why Skillz's growth rates and technical indicators are likely to cause a short squeeze and how we have set up our own position.</p><p><blockquote>在本文中，我们不会介绍Skillz的商业模式和不断增长的生态系统，因为许多S.A.作者已经非常详细地解释了该公司的优点。相反，让我们研究一下为什么Skillz的增长率和技术指标可能会导致轧空以及我们如何建立自己的头寸。</blockquote></p><p> <b>A rapidly growing company</b></p><p><blockquote><b>快速发展的公司</b></blockquote></p><p> Skillz&nbsp;deliveredanother quarter of strong performance in Q1, achieving its 21st consecutive quarter of revenue growth. The company generated 92% of revenue growth year-over-year, primarily as a result of 81% growth in paying monthly active users. In addition, we want to highlight that revenue growth was much more substantial than the one achieved in Q1-2020 (67%), suggesting an acceleration.</p><p><blockquote>Skillz在第一季度又一个季度表现强劲，实现了连续21个季度的收入增长。该公司的收入同比增长了92%，主要是由于付费月活跃用户增长了81%。此外，我们想强调的是，收入增长比2020年第一季度的增长（67%）要强劲得多，这表明收入增长正在加速。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b50edacf11accd9b32fd5c3dc7b8e15\" tg-width=\"640\" tg-height=\"320\"><span>Source:Q1 Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第一季度演示</span></p></blockquote></p><p> Hence, the revenue growth projected by analysts over the next couple of years seems a bit gloomier than it should. Especially considering that the company has not even begun monetizing its non-paying users, which could accelerate revenue growth further if it decided to do so.</p><p><blockquote>因此，分析师预测的未来几年收入增长似乎比预期的要黯淡一些。特别是考虑到该公司甚至还没有开始将其非付费用户货币化，如果它决定这样做，可能会进一步加速收入增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/65d2f8e90727958c83f790fa5f157ce4\" tg-width=\"640\" tg-height=\"164\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> <i>As a side note, not monetizing its non-paying users also speaks of two qualities by the company worth. First, Skillz does not attempt to squeeze every bit of extra revenue immediately after its public listing to impress investors quickly. Secondly, the companyoptimizesits marketing budget to acquire paying users, not installs. This is very distinct from other mobile gaming companies that monetize via advertising, mindlessly trying to attract the largest number of eyeballs possible. This tells us that the company is in it for the long term, executing thoughtfully.</i></p><p><blockquote><i>顺便说一句，不将非付费用户货币化也说明了该公司的两个品质。首先，Skillz并不试图在公开上市后立即榨取每一点额外收入来迅速打动投资者。其次，该公司优化营销预算以获取付费用户，而不是安装。这与其他通过广告赚钱的移动游戏公司非常不同，他们盲目地试图吸引尽可能多的眼球。这告诉我们，公司是长期的，执行周到。</i></blockquote></p><p> In any case, analyst expectations make little sense based on the company's current growth trajectory, and we expect sales growth to be more substantial. Moreover, sales growth becomes even more exciting when we consider the company's potential profitability powered by its ultra high-margin business model. The company enjoys gross margins of 94%, which indicates plenty of room for a rich bottom line as the company continues to scale.</p><p><blockquote>无论如何，基于该公司目前的增长轨迹，分析师的预期意义不大，我们预计销售额增长将更加可观。此外，当我们考虑到该公司超高利润商业模式推动的潜在盈利能力时，销售增长变得更加令人兴奋。该公司的毛利率为94%，这表明随着公司规模的不断扩大，利润还有很大的空间。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7f0ae33838bdd16f867917a1fe90d9c3\" tg-width=\"640\" tg-height=\"315\"><span>Source:Q1 results</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第一季度业绩</span></p></blockquote></p><p></p><p> Finally, the company ended the quarter with a strong balance sheet, including $613 million of cash. The company also recently struck a&nbsp;deal&nbsp;to acquire Aarki for $150 in cash and stock (another catalyst for accelerated revenue growth) as well). Thus, even if the whole company was to be acquired in cash only, Skillz would still have enough gun powder to sustain several quarters of losses (at its current run rate) without the need to raise extra funds.</p><p><blockquote>最后，该公司在本季度末拥有强劲的资产负债表，其中包括6.13亿美元的现金。该公司最近还达成了一项协议，以150美元的现金和股票收购Aarki（这也是收入加速增长的另一个催化剂）。因此，即使仅以现金收购整个公司，Skillz仍有足够的火药来维持几个季度的亏损（以目前的运营速度），而无需筹集额外资金。</blockquote></p><p> We hence don't expect any further dilution, which could support the short case amid the additional sale of shares. This, of course, does not include dilution resulting from more acquisitions, which are going to (hopefully) benefit the company financially, and in which case they are welcome.</p><p><blockquote>因此，我们预计不会出现任何进一步的稀释，这可能会在额外出售股票的情况下支持做空情况。当然，这不包括更多收购导致的稀释，这些收购将（希望）使公司在财务上受益，在这种情况下，它们是受欢迎的。</blockquote></p><p> Finally, the company has no debt on its balance sheet to pressure its bottom line further. Considering the fat gross margins, it should not struggle to turn green if the company pursues the profitability road.</p><p><blockquote>最后，该公司的资产负债表上没有债务来进一步给其利润带来压力。考虑到丰厚的毛利率，如果公司追求盈利之路，应该不会很难实现绿色。</blockquote></p><p> When everything is taken into consideration, the stock could easily attract a higher valuation multiple. We believe that Skillz's revenue growth rate and juicy margins could easily support a P/S ratio of around 25, suggesting upside regardless of a possible short squeeze scenario.</p><p><blockquote>当考虑到所有因素时，该股票很容易吸引更高的估值倍数。我们认为，Skillz的收入增长率和丰厚的利润率可以轻松支撑25左右的市盈率，这表明无论可能出现轧空情况如何，都有上涨空间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0bd7d35a8374e6800e160c33fa12607a\" tg-width=\"640\" tg-height=\"331\"></p><p><blockquote></blockquote></p><p> <b>The technicals and our play</b></p><p><blockquote><b>技术和我们的发挥</b></blockquote></p><p> Now, let's move to the technicals, which, combined with Skillz's growth metrics and healthy financials, could result in a short interest decline in the short term.</p><p><blockquote>现在，让我们转向技术面，结合Skillz的增长指标和健康的财务状况，可能会导致短期内空头兴趣下降。</blockquote></p><p> Firstly, we chose to sell PUTs to take advantage of the stock's high volatility, which translates to higher premiums. By selling PUTs here, we are finding the optimum point between a low price (of the underlying stock) and the high volatility (normally, there is a trade-off between the two.)</p><p><blockquote>首先，我们选择卖出看跌期权以利用股票的高波动性，这意味着更高的溢价。通过在这里卖出看跌期权，我们找到了（标的股票的）低价和高波动性之间的最佳点（通常，两者之间存在权衡。）</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ca5826ab6b6cddd6817a265b9bbcc01c\" tg-width=\"635\" tg-height=\"419\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Then we are checking most (in this case, all) the main (technical) boxes. One could argue that these don't guarantee anything, of course, but the technicals here are surely looking encouraging.</p><p><blockquote>然后，我们检查大多数（在本例中，所有）主要（技术）框。当然，有人可能会说这些并不能保证任何事情，但这里的技术面看起来确实令人鼓舞。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7748749c82392cdecc305f45b2b008ea\" tg-width=\"635\" tg-height=\"436\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Then, we are checking the stock's short interest, which is peaking/has peaked.</p><p><blockquote>然后，我们正在检查该股票的空头利息，该利息正在见顶/已经见顶。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34ad6765006c4cc62f648a511949788b\" tg-width=\"635\" tg-height=\"419\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Everything combined creates the perfect setup for a short squeeze at a time when the Reddit army is attacking anything that looks like a potential.</p><p><blockquote>当Reddit大军正在攻击任何看起来有潜力的东西时，一切结合在一起，为空头挤压创造了完美的设置。</blockquote></p><p> However, we are always aiming for an additional margin of safety to mitigate our risk and narrow our total return expectations. By selling PUTs, we are not jumping in at all costs. Either making massive returns (see below) on these short-term options or buying the stock at a lower price while enhancing the predictability of our total returns.</p><p><blockquote>然而，我们始终致力于获得额外的安全边际，以降低风险并缩小总回报预期。通过卖出看跌期权，我们不会不惜一切代价买入。要么通过这些短期期权获得巨额回报（见下文），要么以较低的价格购买股票，同时提高我们总回报的可预测性。</blockquote></p><p> Here are the possible scenarios out of selling our PUTs:</p><p><blockquote>以下是出售看跌期权的可能情况：</blockquote></p><p> <ul>  <li><b>SELL (to open) SKLZ 07/16/2021 22.50 PUT @ $4.20</b></li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8d112fde75fe80aa1197e23191c3885f\" tg-width=\"640\" tg-height=\"433\"><span>Source: Author</span></p><p><blockquote><ul><li><b>卖出（开仓）SKLZ 07/16/2021 22.50 PUT@$4.20</b></li></ul><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p> <ul>  <li><b>SELL (to open) SKLZ 08/20/2021 22.50 PUT @ $5.50</b></li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1417a9a5e822d9bb64cbf94ac169ab00\" tg-width=\"640\" tg-height=\"430\"><span>Source: Author</span></p><p><blockquote><ul><li><b>卖出（开仓）SKLZ 08/20/2021 22.50 PUT@$5.50</b></li></ul><p class=\"t-img-caption\"><span>来源：作者</span></p></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4435106-skillz-stock-sklz-likely-on-reddit-menu\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SKLZ":"Skillz Inc"},"source_url":"https://seekingalpha.com/article/4435106-skillz-stock-sklz-likely-on-reddit-menu","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192239171","content_text":"Summary\n\nSkillz is growing rapidly, with the potential for sales to accelerate as the company enhances monetization and completes the Aarki acquisition.\nThe company enjoys fantastic margins which should lead to profitability without much struggle. Skillz has enough firepower to sustain several money-losing quarters without any dilution, regardless.\nAdditionally, the stock is position greatly for a short squeeze based on its technicals, at a time when the Reddit army is actively looking for such opportunities.\nWe are taking advantage of the increased volatility and high premiums to sell PUTs with the potential for massive returns.\n\nGeber86/E+ via Getty Images\nIf you have been paying attention to market news lately, you may have noticed the short squeeze frenzy caused by Reddit's Wall Street Bets community. Wall St. Bets Redditors have collectively bought stocks featuring a high short interest in bulk, shooting the so-called \"meme stocks\" to the skies and beyond.\nExamples include the following stocks:\n\nBed Bath & Beyond(NASDAQ:BBBY)\nBlackBerry(NYSE:BB)\nVirgin Galactic(NYSE:SPCE)\nWendy's(NASDAQ:WEN)\nRocket Companies(NYSE:RKT)\nContextLogic(NASDAQ:WISH)\nPalantir(NYSE:PLTR)\nGameStop(NYSE:GME)\n\nIn this article, we want to share our thoughts on another highly shorted stock, Skillz (SKLZ), whose rapid growth and favorable technical indicators are likely to cause a short squeeze. This could send shares soaring in the short term as shorts begin purchasing stock in the panic of potentially higher losses.\nThe possibility that Skillz may become one of the next targets of the Wall Street Bets army due to its high short interest is certainly a welcome factor, though not one we necessarily rely on it.\nIn this article, we won't go through Skillz's business model and growing ecosystem as many S.A. authors have already sufficiently explained the company's merits with great detail. Instead, let's examine why Skillz's growth rates and technical indicators are likely to cause a short squeeze and how we have set up our own position.\nA rapidly growing company\nSkillz deliveredanother quarter of strong performance in Q1, achieving its 21st consecutive quarter of revenue growth. The company generated 92% of revenue growth year-over-year, primarily as a result of 81% growth in paying monthly active users. In addition, we want to highlight that revenue growth was much more substantial than the one achieved in Q1-2020 (67%), suggesting an acceleration.\nSource:Q1 Presentation\nHence, the revenue growth projected by analysts over the next couple of years seems a bit gloomier than it should. Especially considering that the company has not even begun monetizing its non-paying users, which could accelerate revenue growth further if it decided to do so.\nSource:Seeking Alpha\nAs a side note, not monetizing its non-paying users also speaks of two qualities by the company worth. First, Skillz does not attempt to squeeze every bit of extra revenue immediately after its public listing to impress investors quickly. Secondly, the companyoptimizesits marketing budget to acquire paying users, not installs. This is very distinct from other mobile gaming companies that monetize via advertising, mindlessly trying to attract the largest number of eyeballs possible. This tells us that the company is in it for the long term, executing thoughtfully.\nIn any case, analyst expectations make little sense based on the company's current growth trajectory, and we expect sales growth to be more substantial. Moreover, sales growth becomes even more exciting when we consider the company's potential profitability powered by its ultra high-margin business model. The company enjoys gross margins of 94%, which indicates plenty of room for a rich bottom line as the company continues to scale.\nSource:Q1 results\nFinally, the company ended the quarter with a strong balance sheet, including $613 million of cash. The company also recently struck a deal to acquire Aarki for $150 in cash and stock (another catalyst for accelerated revenue growth) as well). Thus, even if the whole company was to be acquired in cash only, Skillz would still have enough gun powder to sustain several quarters of losses (at its current run rate) without the need to raise extra funds.\nWe hence don't expect any further dilution, which could support the short case amid the additional sale of shares. This, of course, does not include dilution resulting from more acquisitions, which are going to (hopefully) benefit the company financially, and in which case they are welcome.\nFinally, the company has no debt on its balance sheet to pressure its bottom line further. Considering the fat gross margins, it should not struggle to turn green if the company pursues the profitability road.\nWhen everything is taken into consideration, the stock could easily attract a higher valuation multiple. We believe that Skillz's revenue growth rate and juicy margins could easily support a P/S ratio of around 25, suggesting upside regardless of a possible short squeeze scenario.\n\nThe technicals and our play\nNow, let's move to the technicals, which, combined with Skillz's growth metrics and healthy financials, could result in a short interest decline in the short term.\nFirstly, we chose to sell PUTs to take advantage of the stock's high volatility, which translates to higher premiums. By selling PUTs here, we are finding the optimum point between a low price (of the underlying stock) and the high volatility (normally, there is a trade-off between the two.)\n\nThen we are checking most (in this case, all) the main (technical) boxes. One could argue that these don't guarantee anything, of course, but the technicals here are surely looking encouraging.\n\nThen, we are checking the stock's short interest, which is peaking/has peaked.\nData byYCharts\nEverything combined creates the perfect setup for a short squeeze at a time when the Reddit army is attacking anything that looks like a potential.\nHowever, we are always aiming for an additional margin of safety to mitigate our risk and narrow our total return expectations. By selling PUTs, we are not jumping in at all costs. Either making massive returns (see below) on these short-term options or buying the stock at a lower price while enhancing the predictability of our total returns.\nHere are the possible scenarios out of selling our PUTs:\n\nSELL (to open) SKLZ 07/16/2021 22.50 PUT @ $4.20\n\nSource: Author\n\nSELL (to open) SKLZ 08/20/2021 22.50 PUT @ $5.50\n\nSource: Author","news_type":1,"symbols_score_info":{"SKLZ":0.9}},"isVote":1,"tweetType":1,"viewCount":176,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}