hoa的个人主页 - 老虎社区

hoa

hoa

暂无个人介绍

IP属地：未知

422关注

37粉丝

0主题

0勋章

2021-10-03

Personally wont go for bank stock

抱歉，原内容已删除

2021-10-01

Q4 pls pick up

S&P500 futures drop 0.6% after S&P500 posts first monthly decline since January<blockquote>标普500指数期货下跌0.6%，标普500指数自1月份以来首次月度下跌</blockquote>

2021-09-29

Pls like

These high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些2021年飞涨的股票周二跌幅最大</blockquote>

2021-09-27

Done

Tesla's 'Beta Button' Is Live. What It Means for the Stock.<blockquote>特斯拉的“测试按钮”已上线。这对股票意味着什么。</blockquote>

2021-09-25

Lets see how price will react next week

抱歉，原内容已删除

2021-09-24

Tsla will be 3x in 5 years time

SFTCA Raises Concerns Over Tesla Full Self-Driving Name, Safety Ahead Of Wider Beta Release<blockquote>SFTCA在更广泛的测试版发布之前对特斯拉全自动驾驶名称和安全性表示担忧</blockquote>

2021-09-21

Apple still a good stock for long term hold

Apple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师表示，苹果iPhone 13的设置看起来比iPhone 12更糟糕</blockquote>

2021-09-19

Get ready!

US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>

2021-09-13

Need go be prepared for this

U.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn<blockquote>华尔街分析师警告美国股市面临跌跌撞撞的风险</blockquote>

2021-09-08

Inflation coming

抱歉，原内容已删除

2021-09-07

They maybe over exaggerating when talking about gains

Investors love to boast about their great stock picks, but beware of those who use fancy math to calculate their gains<blockquote>投资者喜欢吹嘘他们出色的股票选择，但要小心那些使用花哨的数学来计算收益的人</blockquote>

2021-09-06

Can rest for 1 night at Wallstreet

Is the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</blockquote>

2021-09-03

Stock will rise end of year

抱歉，原内容已删除

2021-09-02

Great news for fastly

抱歉，原内容已删除

2021-08-31

Record high after record high but my portfolio is still in red

抱歉，原内容已删除

2021-08-30

Reluctant to buy as the min lot can be crazy

抱歉，原内容已删除

2021-08-28

Looking to see how well it will do

Apple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</blockquote>

2021-08-27

Happy seeing my Mara up

Crypto stocks surged in morning trading<blockquote>加密货币股票早盘飙升</blockquote>

2021-08-25

Need more green days like this

抱歉，原内容已删除

2021-08-24

Salesforce is good

抱歉，原内容已删除

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3576020103442242","uuid":"3576020103442242","gmtCreate":1612926079700,"gmtModify":1613817976659,"name":"hoa","pinyin":"hoa","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":37,"headSize":422,"tweetSize":233,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.06.26","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":2,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":867150730,"gmtCreate":1633228924878,"gmtModify":1633228925545,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Personally wont go for bank stock","listText":"Personally wont go for bank stock","text":"Personally wont go for bank stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/867150730","repostId":"2172964531","repostType":4,"isVote":1,"tweetType":1,"viewCount":2885,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":864204354,"gmtCreate":1633101908069,"gmtModify":1633101908759,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Q4 pls pick up","listText":"Q4 pls pick up","text":"Q4 pls pick up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/864204354","repostId":"1141318761","repostType":4,"repost":{"id":"1141318761","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":1633077433,"share":"https://www.laohu8.com/m/news/1141318761?lang=zh_CN&edition=full","pubTime":"2021-10-01 16:37","market":"us","language":"en","title":"S&P500 futures drop  0.6% after S&P500 posts first monthly decline since January<blockquote>标普500指数期货下跌0.6%，标普500指数自1月份以来首次月度下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141318761","media":"Tiger Newspress","summary":"US stock futures fell in early pre-market trading on Friday after the S&P500 suffered worst month si","content":"<p>US&nbsp;stock&nbsp;futures&nbsp;fell&nbsp;in&nbsp;early&nbsp;pre-market&nbsp;trading&nbsp;on&nbsp;Friday&nbsp;after&nbsp;the&nbsp;S&amp;P500&nbsp;suffered&nbsp;worst&nbsp;month&nbsp;since&nbsp;March&nbsp;2020</p><p><blockquote>美国股指期货周五盘前早盘下跌，此前标普500指数遭遇2020年3月以来最糟糕的一个月</blockquote></p><p> Dow futures&nbsp;dropped 230 points. S&amp;P 500 futures and Nasdaq 100 futures both traded in negative territory and pointed to opening losses.</p><p><blockquote>道指期货下跌230点。标普500期货和纳斯达克100期货均出现负值，开盘均出现亏损。</blockquote></p><p> The market just capped a tumultuous September as inflation fears, slowing growth and rising rates crept up. The S&amp;P 500 finished the month down 4.8%, breaking a seven-month winning streak. The Dow and the Nasdaq Composite fell 4.3% and 5.3%, respectively, suffering their worst months of the year.</p><p><blockquote>随着通胀担忧、经济增长放缓和利率上升的加剧，市场刚刚结束了动荡的九月。标普500本月收盘下跌4.8%，打破了七个月的连涨势头。道琼斯指数和纳斯达克综合指数分别下跌4.3%和5.3%，遭遇今年最糟糕的月份。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ec1912e956c7fb0d2503b74f23ce7f0\" tg-width=\"1125\" tg-height=\"423\" referrerpolicy=\"no-referrer\">Ten of the 11 S&amp;P 500 sectors suffered losses in September, led to the downside by a 7.4% monthly drop in materials stocks. Energy is the best performer of the month, gaining more than 9%.</p><p><blockquote>9月份，11个标普500行业中有10个出现亏损，导致材料股环比下跌7.4%。能源是本月表现最好的股票，涨幅超过9%。</blockquote></p><p> Investors await key inflation data due Friday 8:30est,&nbsp;to gauge the state of price pressures as the economy recovers from the pandemic. The core personal consumption expenditures price index, the inflation measure the Federal Reserve uses to set policy, is expected to rise 0.2% in August and 3.5% year over year, according to economists polled by Dow Jones.</p><p><blockquote>投资者等待美国东部时间周五8:30公布的关键通胀数据，以衡量经济从大流行中复苏时的价格压力状况。据道琼斯调查的经济学家称，美联储用来制定政策的通胀指标核心个人消费支出价格指数预计8月份将上涨0.2%，同比上涨3.5%。</blockquote></p><p> The inflation measure jumped 3.6% year over year in July, which hit the highest level since May 1991.</p><p><blockquote>7月份通胀指标同比上涨3.6%，达到1991年5月以来的最高水平。</blockquote></p><p> “As we wrap up the third quarter and look ahead, investors will likely need to remain nimble as the economic recovery continues in a zig zag,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.</p><p><blockquote>E-Trade Financial投资策略董事总经理Mike Loewengart表示：“随着第三季度结束并展望未来，随着经济复苏继续曲折，投资者可能需要保持灵活性。”</blockquote></p><p> Congress was poised to prevent a government shutdown Thursday. The Senate and House both passed a short-term appropriations bill that would keep the government running through Dec. 3 and sent it to President Joe Biden to sign.</p><p><blockquote>国会周四准备阻止政府关门。参议院和众议院都通过了一项短期拨款法案，该法案将使政府维持到12月3日，并将其送交总统乔·拜登签署。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P500 futures drop  0.6% after S&P500 posts first monthly decline since January<blockquote>标普500指数期货下跌0.6%，标普500指数自1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; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P500 futures drop  0.6% after S&P500 posts first monthly decline since January<blockquote>标普500指数期货下跌0.6%，标普500指数自1月份以来首次月度下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-01 16:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>US&nbsp;stock&nbsp;futures&nbsp;fell&nbsp;in&nbsp;early&nbsp;pre-market&nbsp;trading&nbsp;on&nbsp;Friday&nbsp;after&nbsp;the&nbsp;S&amp;P500&nbsp;suffered&nbsp;worst&nbsp;month&nbsp;since&nbsp;March&nbsp;2020</p><p><blockquote>美国股指期货周五盘前早盘下跌，此前标普500指数遭遇2020年3月以来最糟糕的一个月</blockquote></p><p> Dow futures&nbsp;dropped 230 points. S&amp;P 500 futures and Nasdaq 100 futures both traded in negative territory and pointed to opening losses.</p><p><blockquote>道指期货下跌230点。标普500期货和纳斯达克100期货均出现负值，开盘均出现亏损。</blockquote></p><p> The market just capped a tumultuous September as inflation fears, slowing growth and rising rates crept up. The S&amp;P 500 finished the month down 4.8%, breaking a seven-month winning streak. The Dow and the Nasdaq Composite fell 4.3% and 5.3%, respectively, suffering their worst months of the year.</p><p><blockquote>随着通胀担忧、经济增长放缓和利率上升的加剧，市场刚刚结束了动荡的九月。标普500本月收盘下跌4.8%，打破了七个月的连涨势头。道琼斯指数和纳斯达克综合指数分别下跌4.3%和5.3%，遭遇今年最糟糕的月份。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ec1912e956c7fb0d2503b74f23ce7f0\" tg-width=\"1125\" tg-height=\"423\" referrerpolicy=\"no-referrer\">Ten of the 11 S&amp;P 500 sectors suffered losses in September, led to the downside by a 7.4% monthly drop in materials stocks. Energy is the best performer of the month, gaining more than 9%.</p><p><blockquote>9月份，11个标普500行业中有10个出现亏损，导致材料股环比下跌7.4%。能源是本月表现最好的股票，涨幅超过9%。</blockquote></p><p> Investors await key inflation data due Friday 8:30est,&nbsp;to gauge the state of price pressures as the economy recovers from the pandemic. The core personal consumption expenditures price index, the inflation measure the Federal Reserve uses to set policy, is expected to rise 0.2% in August and 3.5% year over year, according to economists polled by Dow Jones.</p><p><blockquote>投资者等待美国东部时间周五8:30公布的关键通胀数据，以衡量经济从大流行中复苏时的价格压力状况。据道琼斯调查的经济学家称，美联储用来制定政策的通胀指标核心个人消费支出价格指数预计8月份将上涨0.2%，同比上涨3.5%。</blockquote></p><p> The inflation measure jumped 3.6% year over year in July, which hit the highest level since May 1991.</p><p><blockquote>7月份通胀指标同比上涨3.6%，达到1991年5月以来的最高水平。</blockquote></p><p> “As we wrap up the third quarter and look ahead, investors will likely need to remain nimble as the economic recovery continues in a zig zag,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.</p><p><blockquote>E-Trade Financial投资策略董事总经理Mike Loewengart表示：“随着第三季度结束并展望未来，随着经济复苏继续曲折，投资者可能需要保持灵活性。”</blockquote></p><p> Congress was poised to prevent a government shutdown Thursday. The Senate and House both passed a short-term appropriations bill that would keep the government running through Dec. 3 and sent it to President Joe Biden to sign.</p><p><blockquote>国会周四准备阻止政府关门。参议院和众议院都通过了一项短期拨款法案，该法案将使政府维持到12月3日，并将其送交总统乔·拜登签署。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141318761","content_text":"US stock futures fell in early pre-market trading on Friday after the S&P500 suffered worst month since March 2020\nDow futures dropped 230 points. S&P 500 futures and Nasdaq 100 futures both traded in negative territory and pointed to opening losses.\nThe market just capped a tumultuous September as inflation fears, slowing growth and rising rates crept up. The S&P 500 finished the month down 4.8%, breaking a seven-month winning streak. The Dow and the Nasdaq Composite fell 4.3% and 5.3%, respectively, suffering their worst months of the year.\nTen of the 11 S&P 500 sectors suffered losses in September, led to the downside by a 7.4% monthly drop in materials stocks. Energy is the best performer of the month, gaining more than 9%.\nInvestors await key inflation data due Friday 8:30est, to gauge the state of price pressures as the economy recovers from the pandemic. The core personal consumption expenditures price index, the inflation measure the Federal Reserve uses to set policy, is expected to rise 0.2% in August and 3.5% year over year, according to economists polled by Dow Jones.\nThe inflation measure jumped 3.6% year over year in July, which hit the highest level since May 1991.\n“As we wrap up the third quarter and look ahead, investors will likely need to remain nimble as the economic recovery continues in a zig zag,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.\nCongress was poised to prevent a government shutdown Thursday. The Senate and House both passed a short-term appropriations bill that would keep the government running through Dec. 3 and sent it to President Joe Biden to sign.","news_type":1,"symbols_score_info":{".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1862,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862230953,"gmtCreate":1632880059708,"gmtModify":1632880060527,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/862230953","repostId":"1106892312","repostType":4,"repost":{"id":"1106892312","kind":"news","pubTimestamp":1632870830,"share":"https://www.laohu8.com/m/news/1106892312?lang=zh_CN&edition=full","pubTime":"2021-09-29 07:13","market":"us","language":"en","title":"These high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些2021年飞涨的股票周二跌幅最大</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106892312","media":"marketwatch","summary":"Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.\n\nThe Federal","content":"<p>  <b>Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.</b>  The Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.</p><p><blockquote><b>受打击尤其严重的股票包括Moderna、英伟达和谷歌控股公司Alphabet。</b>美联储发出的政策变化信号正在产生可预见的影响——随着债券收益率变得更具吸引力，推动股价走低。</blockquote></p><p> This reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.</p><p><blockquote>这扭转了美国股市的一些非常强劲的走势——至少在一天内是这样。以下列出了截至9月27日2021年涨幅至少50%但在9月28日回调幅度最大的10只股票。</blockquote></p><p> The Dow Jones Industrial AverageDJIAdeclined 1.6%, while the S&amp;P 500 IndexSPXfell 2%. The Nasdaq Composite IndexCOMPfared worst, tumbling 2.8%.</p><p><blockquote>道琼斯工业平均指数DJIA下跌1.6%，标普500指数SPX下跌2%。纳斯达克综合指数表现最差，下跌2.8%。</blockquote></p><p> The yield on 10-year U.S. Treasury notesBX:TMUBMUSD10Yincreased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.</p><p><blockquote>10年期美国国债收益率BX：TMUBMUSD10Y上涨5个基点至1.55%。这一比例仅高于一周前的1.33%。</blockquote></p><p> Combined, there are 523 stocks in the S&amp;P 500 and Nasdaq-100NDXindexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.GOOGLGOOGare included:</p><p><blockquote>标普500和纳斯达克-100NDXindex总共有523只股票。FactSet提供的数据显示，截至9月27日，其中50只股票在2021年迄今已上涨至少50%（不包括股息）。以下是9月28日跌幅最大的10只股票——实际上是11只股票，其中包括Alphabet公司的两个普通股类别：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3e62aed3304cd811cf41ce390e38c41c\" tg-width=\"1106\" tg-height=\"713\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/83133c4cfdb3554d40f750a60c91892c\" tg-width=\"1101\" tg-height=\"291\" width=\"100%\" height=\"auto\">Click the tickers for more about each company. Clickhere&nbsp;for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.</p><p><blockquote>单击股票代码了解有关每家公司的更多信息。点击此处获取孙铁麟·基尔戈的详细指南，了解报价页面上免费提供的大量信息。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些2021年飞涨的股票周二跌幅最大</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些2021年飞涨的股票周二跌幅最大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-09-29 07:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.</b>  The Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.</p><p><blockquote><b>受打击尤其严重的股票包括Moderna、英伟达和谷歌控股公司Alphabet。</b>美联储发出的政策变化信号正在产生可预见的影响——随着债券收益率变得更具吸引力，推动股价走低。</blockquote></p><p> This reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.</p><p><blockquote>这扭转了美国股市的一些非常强劲的走势——至少在一天内是这样。以下列出了截至9月27日2021年涨幅至少50%但在9月28日回调幅度最大的10只股票。</blockquote></p><p> The Dow Jones Industrial AverageDJIAdeclined 1.6%, while the S&amp;P 500 IndexSPXfell 2%. The Nasdaq Composite IndexCOMPfared worst, tumbling 2.8%.</p><p><blockquote>道琼斯工业平均指数DJIA下跌1.6%，标普500指数SPX下跌2%。纳斯达克综合指数表现最差，下跌2.8%。</blockquote></p><p> The yield on 10-year U.S. Treasury notesBX:TMUBMUSD10Yincreased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.</p><p><blockquote>10年期美国国债收益率BX：TMUBMUSD10Y上涨5个基点至1.55%。这一比例仅高于一周前的1.33%。</blockquote></p><p> Combined, there are 523 stocks in the S&amp;P 500 and Nasdaq-100NDXindexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.GOOGLGOOGare included:</p><p><blockquote>标普500和纳斯达克-100NDXindex总共有523只股票。FactSet提供的数据显示，截至9月27日，其中50只股票在2021年迄今已上涨至少50%（不包括股息）。以下是9月28日跌幅最大的10只股票——实际上是11只股票，其中包括Alphabet公司的两个普通股类别：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3e62aed3304cd811cf41ce390e38c41c\" tg-width=\"1106\" tg-height=\"713\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/83133c4cfdb3554d40f750a60c91892c\" tg-width=\"1101\" tg-height=\"291\" width=\"100%\" height=\"auto\">Click the tickers for more about each company. Clickhere&nbsp;for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.</p><p><blockquote>单击股票代码了解有关每家公司的更多信息。点击此处获取孙铁麟·基尔戈的详细指南，了解报价页面上免费提供的大量信息。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/these-high-flying-stocks-of-2021-have-dropped-the-most-today-11632846406?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/these-high-flying-stocks-of-2021-have-dropped-the-most-today-11632846406?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106892312","content_text":"Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.\n\nThe Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.\nThis reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.\nThe Dow Jones Industrial AverageDJIAdeclined 1.6%, while the S&P 500 IndexSPXfell 2%. The Nasdaq Composite IndexCOMPfared worst, tumbling 2.8%.\nThe yield on 10-year U.S. Treasury notesBX:TMUBMUSD10Yincreased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.\nCombined, there are 523 stocks in the S&P 500 and Nasdaq-100NDXindexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.GOOGLGOOGare included:\nClick the tickers for more about each company. Clickhere for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866316024,"gmtCreate":1632733838368,"gmtModify":1632798226712,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Done","listText":"Done","text":"Done","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/866316024","repostId":"1128485442","repostType":4,"repost":{"id":"1128485442","kind":"news","pubTimestamp":1632729714,"share":"https://www.laohu8.com/m/news/1128485442?lang=zh_CN&edition=full","pubTime":"2021-09-27 16:01","market":"us","language":"en","title":"Tesla's 'Beta Button' Is Live. What It Means for the Stock.<blockquote>特斯拉的“测试按钮”已上线。这对股票意味着什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128485442","media":"Barrons","summary":"Tesla delivered its “beta button” Friday, bringing the next level of autonomous driving to its car o","content":"<p>Tesla delivered its “beta button” Friday, bringing the next level of autonomous driving to its car owners. Regulators aren’t happy.</p><p><blockquote>特斯拉周五交付了“测试按钮”，为车主带来了下一个级别的自动驾驶。监管机构并不高兴。</blockquote></p><p> With the “beta button,” Tesla (ticker: TSLA) owners can now request the most sophisticated version of Tesla’s autonomous-driving software, dubbed Full Self Driving, or FSD, with the press of a finger. The button went live on Friday.</p><p><blockquote>通过“测试按钮”，特斯拉（股票代码：TSLA）车主现在只需按一下手指即可请求特斯拉自动驾驶软件最复杂版本，称为全自动驾驶（FSD）。该按钮于周五上线。</blockquote></p><p> Tesla’s new system will do things such as make left turns for the driver. Tesla has let some drivers test the system before now. Many videos from testers that review the capabilities—and issues—with the system are available on YouTube. </p><p><blockquote>特斯拉的新系统将为驾驶员提供左转等功能。特斯拉之前已经让一些司机测试了该系统。YouTube上有许多测试人员回顾该系统功能和问题的视频。</blockquote></p><p> Just hitting the button isn’t all Tesla drivers have to do. The button doesn’t grant access to the new version automatically. Tesla judges driving behavior for a week before the upgrade is activated.</p><p><blockquote>特斯拉司机所要做的不仅仅是按下按钮。该按钮不会自动授予对新版本的访问权限。特斯拉对升级激活前一周的驾驶行为进行判断。</blockquote></p><p> Regulators have expressed nervousness about the launch and calling a safety feature a “beta” version. But beyond that, nothing much has happened. Investors can expect more to happen in coming weeks, including videos, tweets, and stories about Tesla’s full self-driving software and what regulators are thinking about it.</p><p><blockquote>监管机构对此次发布表示紧张，并将安全功能称为“测试版”。但除此之外，什么也没发生。投资者可以预计未来几周会发生更多事情，包括有关特斯拉全自动驾驶软件以及监管机构对此想法的视频、推文和故事。</blockquote></p><p> Tesla hasn’t responded to multiple requests for comment about FSD, but the company has said in many public forums that it believes FSD software makes its vehicles safer to drive.</p><p><blockquote>特斯拉尚未回应有关FSD的多次置评请求，但该公司在许多公共论坛上表示，它相信FSD软件使其车辆驾驶起来更安全。</blockquote></p><p> Tesla FSD is a so-called Level 2 autonomous-driving system. Level 2 means drivers need to watch the road at all times. The new version is the same kind of system. It makes driving easier and more convenient, but there are no systems that allow drivers to stop paying attention to driving altogether. That’s what Tesla, and the rest of the auto industry, wants to achieve years down the road.</p><p><blockquote>特斯拉FSD是一种所谓的2级自动驾驶系统。2级意味着驾驶员需要时刻关注道路。新版本是同类系统。它使驾驶变得更加容易和方便，但没有系统可以让驾驶员完全停止对驾驶的注意力。这就是特斯拉和汽车行业其他公司在未来几年想要实现的目标。</blockquote></p><p> Tesla stock, for its part, is at its highest level in months. Shares closed up 2.8% at $774.49 on Friday, and are now up about 10% in 2021, trailing just behind comparable gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average. But all those gains have come recently. Tesla stock is up 15% over the past three months.</p><p><blockquote>特斯拉股价则处于数月来的最高水平。该股周五收盘上涨2.8%，至774.49美元，目前2021年上涨约10%，仅次于标准普尔500指数和道琼斯工业平均指数的可比涨幅。但所有这些收益都是最近才出现的。特斯拉股价在过去三个月上涨了15%。</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>Tesla's 'Beta Button' Is Live. What It Means for the Stock.<blockquote>特斯拉的“测试按钮”已上线。这对股票意味着什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla's 'Beta Button' Is Live. What It Means for the Stock.<blockquote>特斯拉的“测试按钮”已上线。这对股票意味着什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-27 16:01</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla delivered its “beta button” Friday, bringing the next level of autonomous driving to its car owners. Regulators aren’t happy.</p><p><blockquote>特斯拉周五交付了“测试按钮”，为车主带来了下一个级别的自动驾驶。监管机构并不高兴。</blockquote></p><p> With the “beta button,” Tesla (ticker: TSLA) owners can now request the most sophisticated version of Tesla’s autonomous-driving software, dubbed Full Self Driving, or FSD, with the press of a finger. The button went live on Friday.</p><p><blockquote>通过“测试按钮”，特斯拉（股票代码：TSLA）车主现在只需按一下手指即可请求特斯拉自动驾驶软件最复杂版本，称为全自动驾驶（FSD）。该按钮于周五上线。</blockquote></p><p> Tesla’s new system will do things such as make left turns for the driver. Tesla has let some drivers test the system before now. Many videos from testers that review the capabilities—and issues—with the system are available on YouTube. </p><p><blockquote>特斯拉的新系统将为驾驶员提供左转等功能。特斯拉之前已经让一些司机测试了该系统。YouTube上有许多测试人员回顾该系统功能和问题的视频。</blockquote></p><p> Just hitting the button isn’t all Tesla drivers have to do. The button doesn’t grant access to the new version automatically. Tesla judges driving behavior for a week before the upgrade is activated.</p><p><blockquote>特斯拉司机所要做的不仅仅是按下按钮。该按钮不会自动授予对新版本的访问权限。特斯拉对升级激活前一周的驾驶行为进行判断。</blockquote></p><p> Regulators have expressed nervousness about the launch and calling a safety feature a “beta” version. But beyond that, nothing much has happened. Investors can expect more to happen in coming weeks, including videos, tweets, and stories about Tesla’s full self-driving software and what regulators are thinking about it.</p><p><blockquote>监管机构对此次发布表示紧张，并将安全功能称为“测试版”。但除此之外，什么也没发生。投资者可以预计未来几周会发生更多事情，包括有关特斯拉全自动驾驶软件以及监管机构对此想法的视频、推文和故事。</blockquote></p><p> Tesla hasn’t responded to multiple requests for comment about FSD, but the company has said in many public forums that it believes FSD software makes its vehicles safer to drive.</p><p><blockquote>特斯拉尚未回应有关FSD的多次置评请求，但该公司在许多公共论坛上表示，它相信FSD软件使其车辆驾驶起来更安全。</blockquote></p><p> Tesla FSD is a so-called Level 2 autonomous-driving system. Level 2 means drivers need to watch the road at all times. The new version is the same kind of system. It makes driving easier and more convenient, but there are no systems that allow drivers to stop paying attention to driving altogether. That’s what Tesla, and the rest of the auto industry, wants to achieve years down the road.</p><p><blockquote>特斯拉FSD是一种所谓的2级自动驾驶系统。2级意味着驾驶员需要时刻关注道路。新版本是同类系统。它使驾驶变得更加容易和方便，但没有系统可以让驾驶员完全停止对驾驶的注意力。这就是特斯拉和汽车行业其他公司在未来几年想要实现的目标。</blockquote></p><p> Tesla stock, for its part, is at its highest level in months. Shares closed up 2.8% at $774.49 on Friday, and are now up about 10% in 2021, trailing just behind comparable gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average. But all those gains have come recently. Tesla stock is up 15% over the past three months.</p><p><blockquote>特斯拉股价则处于数月来的最高水平。该股周五收盘上涨2.8%，至774.49美元，目前2021年上涨约10%，仅次于标准普尔500指数和道琼斯工业平均指数的可比涨幅。但所有这些收益都是最近才出现的。特斯拉股价在过去三个月上涨了15%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-autonomous-driving-beta-button-51632583470?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":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-autonomous-driving-beta-button-51632583470?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128485442","content_text":"Tesla delivered its “beta button” Friday, bringing the next level of autonomous driving to its car owners. Regulators aren’t happy.\nWith the “beta button,” Tesla (ticker: TSLA) owners can now request the most sophisticated version of Tesla’s autonomous-driving software, dubbed Full Self Driving, or FSD, with the press of a finger. The button went live on Friday.\n\nTesla’s new system will do things such as make left turns for the driver. Tesla has let some drivers test the system before now. Many videos from testers that review the capabilities—and issues—with the system are available on YouTube. \n\nJust hitting the button isn’t all Tesla drivers have to do. The button doesn’t grant access to the new version automatically. Tesla judges driving behavior for a week before the upgrade is activated.\n\nRegulators have expressed nervousness about the launch and calling a safety feature a “beta” version. But beyond that, nothing much has happened. Investors can expect more to happen in coming weeks, including videos, tweets, and stories about Tesla’s full self-driving software and what regulators are thinking about it.\nTesla hasn’t responded to multiple requests for comment about FSD, but the company has said in many public forums that it believes FSD software makes its vehicles safer to drive.\nTesla FSD is a so-called Level 2 autonomous-driving system. Level 2 means drivers need to watch the road at all times. The new version is the same kind of system. It makes driving easier and more convenient, but there are no systems that allow drivers to stop paying attention to driving altogether. That’s what Tesla, and the rest of the auto industry, wants to achieve years down the road.\n\nTesla stock, for its part, is at its highest level in months. Shares closed up 2.8% at $774.49 on Friday, and are now up about 10% in 2021, trailing just behind comparable gains of the S&P 500 and Dow Jones Industrial Average. But all those gains have come recently. Tesla stock is up 15% over the past three months.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868060512,"gmtCreate":1632552953336,"gmtModify":1632658128749,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Lets see how price will react next week","listText":"Lets see how price will react next week","text":"Lets see how price will react next week","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/868060512","repostId":"2170611559","repostType":4,"isVote":1,"tweetType":1,"viewCount":2717,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":861149819,"gmtCreate":1632474529831,"gmtModify":1632720389086,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Tsla will be 3x in 5 years time&nbsp;","listText":"Tsla will be 3x in 5 years time&nbsp;","text":"Tsla will be 3x in 5 years time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/861149819","repostId":"1164314212","repostType":4,"repost":{"id":"1164314212","kind":"news","pubTimestamp":1632467545,"share":"https://www.laohu8.com/m/news/1164314212?lang=zh_CN&edition=full","pubTime":"2021-09-24 15:12","market":"us","language":"en","title":"SFTCA Raises Concerns Over Tesla Full Self-Driving Name, Safety Ahead Of Wider Beta Release<blockquote>SFTCA在更广泛的测试版发布之前对特斯拉全自动驾驶名称和安全性表示担忧</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1164314212","media":"Benzinga","summary":"The San Francisco County Transportation Authority has raised concerns about the safety record of Tes","content":"<p><div> The San Francisco County Transportation Authority has raised concerns about the safety record of Tesla Inc’s advanced driver assistant system just ahead of a wide beta release of the autonomous ...</p><p><blockquote><div>就在自动驾驶汽车广泛测试版发布之前，三藩市县交通管理局对特斯拉公司高级驾驶辅助系统的安全记录提出了担忧...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>SFTCA Raises Concerns Over Tesla Full Self-Driving Name, Safety Ahead Of Wider Beta Release<blockquote>SFTCA在更广泛的测试版发布之前对特斯拉全自动驾驶名称和安全性表示担忧</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\">\nSFTCA Raises Concerns Over Tesla Full Self-Driving Name, Safety Ahead Of Wider Beta Release<blockquote>SFTCA在更广泛的测试版发布之前对特斯拉全自动驾驶名称和安全性表示担忧</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-09-24 15:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The San Francisco County Transportation Authority has raised concerns about the safety record of Tesla Inc’s advanced driver assistant system just ahead of a wide beta release of the autonomous ...</p><p><blockquote><div>就在自动驾驶汽车广泛测试版发布之前，三藩市县交通管理局对特斯拉公司高级驾驶辅助系统的安全记录提出了担忧...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.benzinga.com/news/21/09/23084350/sftca-raises-concerns-over-tesla-full-self-driving-name-safety-ahead-of-wider-beta-release","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164314212","content_text":"The San Francisco County Transportation Authority has raised concerns about the safety record of Tesla Inc’s advanced driver assistant system just ahead of a wide beta release of the autonomous software system, Reuters reported on Thursday.\nWhat Happened:Besides raising concerts on the safety record, the transport authority has disputed the name \"Full Self-Driving\" (FSD), which it says is an advanced driver assistance program, not an autonomous vehicle system.\nThe agency’s Executive Director Tilly Chang told Reuters that a human driver should \"continuously monitor\" Tesla's FSD system and the name of the service could be confusing for consumers. Chang added that she hoped \"DMV, FTC and NHTSA continue to monitor and analyze this issue to protect consumers and the traveling public.\"\nSFCTA manages the funding for transit and roadway projects in San Francisco.\nWhy It Matters:The Palo Alto, California-based electric vehicle maker Tesla has been under increased regulatory scrutiny this year after a number of crashes that are now under federal investigation. The Elon Musk-led company is also close to unveiling a wide release of a test version of the FSD software that works on city streets and highways.\nTesla has rolled its FSD Beta program out to an army of testers who have shown the car can make impressive moves, such as dodging a deer on dirt roads.\nPrice Action:Tesla stock closed 0.23% higher at $753.65 a share on Thursday.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":860477345,"gmtCreate":1632206126087,"gmtModify":1632802068110,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Apple still a good stock for long term hold","listText":"Apple still a good stock for long term hold","text":"Apple still a good stock for long term hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/860477345","repostId":"1147257083","repostType":4,"repost":{"id":"1147257083","kind":"news","pubTimestamp":1632204394,"share":"https://www.laohu8.com/m/news/1147257083?lang=zh_CN&edition=full","pubTime":"2021-09-21 14:06","market":"us","language":"en","title":"Apple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师表示，苹果iPhone 13的设置看起来比iPhone 12更糟糕</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147257083","media":"Barrons","summary":"Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPh","content":"<p>Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPhone 13 launched last week didn’t surprise anyone, there are good reasons to predict it will have a positive impact on the share price.</p><p><blockquote>苹果股票的生死几乎取决于该公司每年的iPhone销量。尽管上周推出的iPhone 13没有让任何人感到惊讶，但有充分的理由预测它将对股价产生积极影响。</blockquote></p><p> But New Street Research analyst Pierre Ferragu wrote in a research note that investors should be cautious about Apple’s (ticker: AAPL) forthcoming iPhone 13 sales. It’s not the phone itself, which looks like a powerful piece of hardware, and contains several incremental updates. The problem is the number of people who are likely to upgrade that is getting discussed on Wall Street.</p><p><blockquote>但New Street Research分析师Pierre Ferragu在一份研究报告中写道，投资者应该对苹果（股票代码：AAPL）即将推出的iPhone 13销售保持谨慎。它不是手机本身，它看起来像一个强大的硬件，并包含几个增量更新。问题是华尔街正在讨论的可能升级的人数。</blockquote></p><p> Several reports, Ferragu wrote, say that there are more than 450 million iPhones three years old or older—seemingly nearly a half billion people that may want to upgrade. As a result, Apple bulls have predicted a strong cycle for the forthcoming batch of phones.</p><p><blockquote>费拉古写道，几份报告称，有超过4.5亿部三年或更长时间的iPhone——似乎有近5亿人可能想要升级。因此，苹果的多头预测即将推出的一批手机将出现强劲的周期。</blockquote></p><p> But Ferragu said that steps over an important factor: most people who buy new phones are now upgrading them every two years, either trading them in or handing them down to a child, for example. Their phones are reused in the secondary market, which upgrades every two to three years.</p><p><blockquote>但费拉古表示，这忽略了一个重要因素：大多数购买新手机的人现在每两年升级一次，例如，要么以旧换新，要么传给孩子。他们的手机在二级市场重复使用，二级市场每两到三年升级一次。</blockquote></p><p> Taking into account the phones that will likely get upgraded this year—from people who own iPhones that are roughly two years old—Ferragu arrives at a much smaller number of likely replacements: 190 million. That is fewer than last year’s figure, which suggests to him that the setup for the iPhone 13 isn’t as good as the iPhone 12.</p><p><blockquote>考虑到今年可能会升级的手机——来自拥有大约两年历史的iPhone的人——Ferragu得出的可能更换数量要少得多：1.9亿部。这低于去年的数字，这向他表明iPhone 13的设置不如iPhone 12。</blockquote></p><p> In May, Ferragu downgraded Apple stock to a Sell, and set a $90 target price. At the time, he wrote that his team sees “material downside risk” with shipments of the new phones in the 180 million to 200 million range, compared with the consensus estimate of 234 million.</p><p><blockquote>5月份，Ferragu将苹果股票评级下调至卖出，并设定了90美元的目标价。当时，他写道，他的团队认为新手机的出货量在1.8亿至2亿部之间存在“重大下行风险”，而市场普遍估计为2.34亿部。</blockquote></p><p> Of the 44 analysts that cover Apple 73% rate shares at Buy, and 23% have a Hold rating.</p><p><blockquote>在研究苹果的44名分析师中，73%的分析师给予买入评级，23%的分析师给予持有评级。</blockquote></p><p> Apple stock fell 2.1% to $142.9 on Tuesday&nbsp;amid broad market weakness. Shares have gained 7.7% this year, as the comparable rise in the&nbsp;S&amp;P 500 inde&nbsp;stands at 16%.</p><p><blockquote>由于市场普遍疲软，苹果股价周二下跌2.1%，至142.9美元。今年股价上涨了7.7%，标准普尔500指数的可比涨幅为16%。</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>Apple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师表示，苹果iPhone 13的设置看起来比iPhone 12更糟糕</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\">\nApple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师表示，苹果iPhone 13的设置看起来比iPhone 12更糟糕</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-21 14:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPhone 13 launched last week didn’t surprise anyone, there are good reasons to predict it will have a positive impact on the share price.</p><p><blockquote>苹果股票的生死几乎取决于该公司每年的iPhone销量。尽管上周推出的iPhone 13没有让任何人感到惊讶，但有充分的理由预测它将对股价产生积极影响。</blockquote></p><p> But New Street Research analyst Pierre Ferragu wrote in a research note that investors should be cautious about Apple’s (ticker: AAPL) forthcoming iPhone 13 sales. It’s not the phone itself, which looks like a powerful piece of hardware, and contains several incremental updates. The problem is the number of people who are likely to upgrade that is getting discussed on Wall Street.</p><p><blockquote>但New Street Research分析师Pierre Ferragu在一份研究报告中写道，投资者应该对苹果（股票代码：AAPL）即将推出的iPhone 13销售保持谨慎。它不是手机本身，它看起来像一个强大的硬件，并包含几个增量更新。问题是华尔街正在讨论的可能升级的人数。</blockquote></p><p> Several reports, Ferragu wrote, say that there are more than 450 million iPhones three years old or older—seemingly nearly a half billion people that may want to upgrade. As a result, Apple bulls have predicted a strong cycle for the forthcoming batch of phones.</p><p><blockquote>费拉古写道，几份报告称，有超过4.5亿部三年或更长时间的iPhone——似乎有近5亿人可能想要升级。因此，苹果的多头预测即将推出的一批手机将出现强劲的周期。</blockquote></p><p> But Ferragu said that steps over an important factor: most people who buy new phones are now upgrading them every two years, either trading them in or handing them down to a child, for example. Their phones are reused in the secondary market, which upgrades every two to three years.</p><p><blockquote>但费拉古表示，这忽略了一个重要因素：大多数购买新手机的人现在每两年升级一次，例如，要么以旧换新，要么传给孩子。他们的手机在二级市场重复使用，二级市场每两到三年升级一次。</blockquote></p><p> Taking into account the phones that will likely get upgraded this year—from people who own iPhones that are roughly two years old—Ferragu arrives at a much smaller number of likely replacements: 190 million. That is fewer than last year’s figure, which suggests to him that the setup for the iPhone 13 isn’t as good as the iPhone 12.</p><p><blockquote>考虑到今年可能会升级的手机——来自拥有大约两年历史的iPhone的人——Ferragu得出的可能更换数量要少得多：1.9亿部。这低于去年的数字，这向他表明iPhone 13的设置不如iPhone 12。</blockquote></p><p> In May, Ferragu downgraded Apple stock to a Sell, and set a $90 target price. At the time, he wrote that his team sees “material downside risk” with shipments of the new phones in the 180 million to 200 million range, compared with the consensus estimate of 234 million.</p><p><blockquote>5月份，Ferragu将苹果股票评级下调至卖出，并设定了90美元的目标价。当时，他写道，他的团队认为新手机的出货量在1.8亿至2亿部之间存在“重大下行风险”，而市场普遍估计为2.34亿部。</blockquote></p><p> Of the 44 analysts that cover Apple 73% rate shares at Buy, and 23% have a Hold rating.</p><p><blockquote>在研究苹果的44名分析师中，73%的分析师给予买入评级，23%的分析师给予持有评级。</blockquote></p><p> Apple stock fell 2.1% to $142.9 on Tuesday&nbsp;amid broad market weakness. Shares have gained 7.7% this year, as the comparable rise in the&nbsp;S&amp;P 500 inde&nbsp;stands at 16%.</p><p><blockquote>由于市场普遍疲软，苹果股价周二下跌2.1%，至142.9美元。今年股价上涨了7.7%，标准普尔500指数的可比涨幅为16%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/apple-iphone-13-51632155026?mod=hp_LEADSUPP_1\">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":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-iphone-13-51632155026?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147257083","content_text":"Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPhone 13 launched last week didn’t surprise anyone, there are good reasons to predict it will have a positive impact on the share price.\n\nBut New Street Research analyst Pierre Ferragu wrote in a research note that investors should be cautious about Apple’s (ticker: AAPL) forthcoming iPhone 13 sales. It’s not the phone itself, which looks like a powerful piece of hardware, and contains several incremental updates. The problem is the number of people who are likely to upgrade that is getting discussed on Wall Street.\n\nSeveral reports, Ferragu wrote, say that there are more than 450 million iPhones three years old or older—seemingly nearly a half billion people that may want to upgrade. As a result, Apple bulls have predicted a strong cycle for the forthcoming batch of phones.\nBut Ferragu said that steps over an important factor: most people who buy new phones are now upgrading them every two years, either trading them in or handing them down to a child, for example. Their phones are reused in the secondary market, which upgrades every two to three years.\nTaking into account the phones that will likely get upgraded this year—from people who own iPhones that are roughly two years old—Ferragu arrives at a much smaller number of likely replacements: 190 million. That is fewer than last year’s figure, which suggests to him that the setup for the iPhone 13 isn’t as good as the iPhone 12.\nIn May, Ferragu downgraded Apple stock to a Sell, and set a $90 target price. At the time, he wrote that his team sees “material downside risk” with shipments of the new phones in the 180 million to 200 million range, compared with the consensus estimate of 234 million.\nOf the 44 analysts that cover Apple 73% rate shares at Buy, and 23% have a Hold rating.\nApple stock fell 2.1% to $142.9 on Tuesday amid broad market weakness. Shares have gained 7.7% this year, as the comparable rise in the S&P 500 inde stands at 16%.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887838696,"gmtCreate":1632015553015,"gmtModify":1632803350972,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Get ready!","listText":"Get ready!","text":"Get ready!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/887838696","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","kind":"news","pubTimestamp":1631921912,"share":"https://www.laohu8.com/m/news/1171558890?lang=zh_CN&edition=full","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将于2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</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\">\nUS IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week<blockquote>美国IPO周：软件、消费品和支付技术引领多元化14周IPO周</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-09-18 07:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p><p><blockquote>夏季可能已经结束，但IPO市场刚刚升温，未来一周将有14起IPO筹集53亿美元。多元化的群体包括软件、消费品、支付技术等等。</blockquote></p><p> The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p><p><blockquote>本周最大的交易，<b>Freshworks</b>(FRSH)计划以96亿美元的市值筹集8.55亿美元。该公司的核心产品是其客户支持软件，它还提供IT服务管理软件和CRM解决方案的新兴竞争对手。虽然亏损预计会随着S&amp;M支出的增加而增加，但截至2011年6月30日，Freshworks实现了稳健的增长和100%以上的净美元收入保留率。</blockquote></p><p> Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p><p><blockquote>加拿大消费品公司<b>诺尔顿发展</b>(KDC)计划以31亿美元的市值筹集8亿美元。在过去的三年里，Knowlton负责共同开发了9,000多种产品，其产品由70多个国家的品牌合作伙伴销售。尽管诺尔顿将使用发行收益来偿还债务，但IPO后仍将发挥杠杆作用。</blockquote></p><p> Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p><p><blockquote>餐厅支付处理器<b>吐司</b>(TOST)计划以179亿美元的市值筹集6.85亿美元。Toast提供一套集成支付和软件解决方案，旨在简化餐厅运营。该公司在2021年上半年的ARR增长率超过100%，尽管它历来没有盈利，而且随着餐厅重新开业的推动力减弱，增长可能会放缓。</blockquote></p><p> Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p><p><blockquote>全球汇款公司<b>全球汇款</b>(RELY)计划以75亿美元的市值筹集4.87亿美元。Remitly为超过135个国家的移民及其家人提供数字金融服务，并已将其核心跨境汇款产品扩展到全球1,700多个走廊。该公司已实现增长和利润率提高，但仍未盈利。</blockquote></p><p> Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p><p><blockquote>软件公司<b>清水分析</b>(CWAN)计划以37亿美元的市值筹集4.5亿美元。Clearwater为其1,000多家客户提供云原生软件，使他们能够简化投资会计操作，并且该公司拥有100%的经常性收入模式。一位新投资者和某些现有股东打算在IPO中购买价值1.5亿美元的股票。</blockquote></p><p> Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p><p><blockquote>食品公司<b>索沃斯品牌</b>(SOVO)计划以15亿美元的市值筹集3.5亿美元。Sovos Brands由Advent International组建，提供一组精选的收购优质食品品牌。据该公司称，其最大的产品品牌Rao’s是意大利面和披萨酱类别中销量第一的SKU。Sovos盈利稳健增长，IPO后将发挥杠杆作用。</blockquote></p><p> Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p><p><blockquote>客户参与软件提供商<b>参与智能</b>(ESMT)计划以41亿美元的市值筹集3.49亿美元。该公司提供简化在线工作流程的软件，如无纸化计费、电子支付处理、日程安排和客户沟通。虽然大流行后增长可能会放缓，但EngageSmart拥有粘性客户群和长期的盈利记录。</blockquote></p><p> Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p><p><blockquote>招聘解决方案提供商<b>英镑支票</b>(STER)计划以21亿美元的市值筹集3亿美元。Sterling是美国领先的企业和政府客户背景调查提供商之一。尽管该公司在竞争激烈的市场中运营，但该公司为超过50%的财富100强企业提供服务，通常签订独家合同。</blockquote></p><p> Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p><p><blockquote>珠宝零售商<b>辉煌地球集团</b>(BRLT)计划以14亿澳元筹集2.5亿美元。Brilliant Earth是一家数字优先的珠宝公司，也是道德采购高级珠宝的全球领导者。该公司已向美国所有州和50多个国家的消费者销售产品，并通过其电子商务平台和13个展厅为超过370,000名客户提供服务。</blockquote></p><p> Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p><p><blockquote>线上时尚平台<b>又名品牌</b>(AKA)计划以23亿美元的市值筹集2.5亿美元。a.k.a.从2018年收购Princess Polly开始，收购面向千禧一代和Z世代消费者的数字化时尚品牌。该公司已经成功扩张了波利公主，并且在美国发展品牌还有很长的路要走，但其并购战略存在执行风险。</blockquote></p><p> COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p><p><blockquote>COVID-19测试制造商<b>提示健康</b>(HLTH)计划以24亿美元的市值筹集2亿美元。Cue首个用于其Cue健康监测系统的商用诊断测试是其COVID-19检测试剂盒，该试剂盒已获得两个EUA的授权。Cue还有另外五个测试套件处于后期技术开发阶段，预计将于2022年下半年开始寻求FDA授权或批准。</blockquote></p><p></p><p> London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p><p><blockquote>伦敦上市的加密货币挖矿公司<b>Argo区块链</b>(ARBK)计划以8.55亿美元的市值筹集1.38亿美元。Argo表示，它是一家领先的区块链技术公司，专注于比特币和其他加密货币的大规模挖掘。Argo拥有超过21,000台专用计算机（矿机），每秒可生成超过1,075 petahash。</blockquote></p><p> Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p><p><blockquote>个性化补充剂卖家<b>索恩健康科技</b>(THRN)计划以8.92亿美元的市值筹集1.26亿美元。该公司的垂直整合品牌Thorne和Onegevity提供可操作的见解和个性化数据、产品和服务。Thorne盈利强劲增长，拥有超过300万客户群。</blockquote></p><p> Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p><p><blockquote>加拿大银行<b>VersaBank</b>(VBNK)计划以2.69亿美元的市值筹集5000万美元。VersaBank是加拿大附表一特许银行，并表示它是世界上首批完全数字化的金融机构之一。截至2021年7月31日，VersaBank拥有18亿美元资产、16亿美元贷款、15亿美元存款和2.02亿美元股东权益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">renaissancecap...</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":{"AKA":"a.k.a. Brands Holding Corp.","SOVO":"Sovos Brands, Inc.","HLTH":"Cue Health Inc.","STER":"Sterling Check Corp.","BRLT":"Brilliant Earth Group, Inc.","RELY":"Remitly Global, Inc.","TOST":"Toast, Inc.","FRSH":"Freshworks","CWAN":"Clearwater Analytics Holdings, Inc.","ARBK":"Argo Blockchain Plc","ESMT":"EngageSmart Inc.","THRN":"Thorne Healthtech"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.","news_type":1,"symbols_score_info":{"KDC":0.9,"SOVO":0.9,"TOST":0.9,"FRSH":0.9,"CWAN":0.9,"BRLT":0.9,"RELY":0.9,"ARBK":0.9,"THRN":0.9,"ESMT":0.9,"HLTH":0.9,"STER":0.9,"AKA":0.9}},"isVote":1,"tweetType":1,"viewCount":2458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888681673,"gmtCreate":1631493437292,"gmtModify":1631887249710,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Need go be prepared for this","listText":"Need go be prepared for this","text":"Need go be prepared for this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/888681673","repostId":"1190225456","repostType":4,"repost":{"id":"1190225456","kind":"news","pubTimestamp":1631492039,"share":"https://www.laohu8.com/m/news/1190225456?lang=zh_CN&edition=full","pubTime":"2021-09-13 08:13","market":"us","language":"en","title":"U.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn<blockquote>华尔街分析师警告美国股市面临跌跌撞撞的风险</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190225456","media":"WSJ","summary":"After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are ","content":"<p>After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are starting to warn that investors could be in for a bumpy ride in the coming weeks and months.</p><p><blockquote>在今年美国股市创纪录的牛市之后，许多华尔街分析师开始警告称，投资者在未来几周和几个月可能会经历坎坷。</blockquote></p><p> Analysts at firms including Morgan Stanley, Citigroup Inc., Deutsche Bank AG and Bank of America Corp. published notes this month cautioning about current risks in the U.S. equity market. With the S&amp;P 500 already hitting 54 records this year through Thursday—the most during that period since 1995—several analysts said that they believe there is a growing possibility of a pullback or, at the least, flatter returns.</p><p><blockquote>摩根士丹利、花旗集团、德意志银行和美国银行等公司的分析师本月发表报告，警告美国股市当前的风险。截至周四，标普500今年已创下54项纪录，为1995年以来同期最高纪录，几位分析师表示，他们认为回调的可能性越来越大，或者至少回报率持平。</blockquote></p><p> Behind that cautious outlook, the researchers said, is a combination of things, including&nbsp;euphoric investment sentiment, extended valuations and anticipation that inflation and supply-chain disruptions will weigh on corporate margins.</p><p><blockquote>研究人员表示，这种谨慎前景的背后是多种因素的综合作用，包括乐观的投资情绪、持续的估值以及对通胀和供应链中断将拖累企业利润率的预期。</blockquote></p><p> In a Wednesday note, strategists at BofA Securities said they saw little to be excited about, asking, “What good news is left?” They added, “A lot of optimism is already priced in.”</p><p><blockquote>美国银行证券的策略师在周三的一份报告中表示，他们没有什么值得兴奋的，他们问道：“还剩下什么好消息？”他们补充道，“很多乐观情绪已经被消化了。”</blockquote></p><p> In the note, the Bank of America team led by Savita Subramanian, head of U.S. equity and quantitative strategy, moved its year-end price target for the S&amp;P 500 price to 4250—a 4.7% reduction from the 4458.58 level at which the benchmark index closed Friday. For 2022, Bank of America set a 4600 price target for the end of the year.</p><p><blockquote>在报告中，由美国股票和量化策略主管Savita Subramanian领导的美银团队将标普500年终目标价上调至4250点，较基准指数收盘价4458.58点下跌4.7%周五。对于2022年，美国银行设定了年底4600点的目标价。</blockquote></p><p> The analysts’ cautious outlook for U.S. stocks presents a contrast to the so-called TINA—or “There Is No Alternative”—motto that has dominated investors’ outlook for much of the past year. Because yields on other assets such as bonds have been so low, many investors have justified their continuous bullish positioning in stocks.Accommodative monetary policy&nbsp;from the Federal Reserve has provided a continuous boost for equities this year, too, as has the lure of big investment returns from a swath of companies, ranging from&nbsp;meme stocks&nbsp;to&nbsp;Covid-19 beneficiaries.</p><p><blockquote>分析师对美股的谨慎前景与过去一年大部分时间主导投资者前景的所谓TINA（即“别无选择”）座右铭形成鲜明对比。由于债券等其他资产的收益率一直很低，许多投资者证明了他们持续看涨股票的合理性。美联储的宽松货币政策今年也为股市提供了持续提振，巨额投资的诱惑也是如此。从meme股票到Covid-19受益者等众多公司的回报。</blockquote></p><p> In their September notes, however, some strategists said they were looking at other parts of the market for future gains. In a note last week, Morgan Stanley strategists wrote that they were downgrading their rating on U.S. equities to “underweight,” saying they prefer stocks in Europe and Japan and view cash as increasingly attractive to hold.</p><p><blockquote>然而，一些策略师在9月份的报告中表示，他们正在关注市场的其他部分，以寻求未来的收益。在上周的一份报告中，大摩策略师写道，他们将美股评级下调至“跑输大盘”，称他们更喜欢欧日股票，并认为持有现金的吸引力越来越大。</blockquote></p><p> “We expect an understandable level of eye-rolling as we move overweight cash,” the Morgan Stanley team including Andrew Sheets wrote in the note, adding the caveat that select international equities and other assets are attractive relative to cash. The note continued, “Morgan Stanley strategists forecast cash to outperform U.S. equities, government bonds and credit over the next 12 months.”</p><p><blockquote>包括Andrew Sheets在内的摩根士丹利团队在报告中写道：“我们预计，当我们转移跑赢大盘现金时，会出现可以理解的翻白眼。”并补充说，部分国际股票和其他资产相对于现金具有吸引力。该报告继续说道，“摩根士丹利策略师预测，未来12个月现金的表现将优于美国股票、政府债券和信贷。”</blockquote></p><p> Parts of Morgan Stanley’s forecast are being put to work at New York Life Investments, the investment arm of New York Life Insurance Co. with more than $600 billion in assets under management.</p><p><blockquote>摩根士丹利的部分预测正在纽约人寿投资公司付诸实施，该公司是纽约人寿保险公司的投资部门，管理着超过6000亿美元的资产。</blockquote></p><p> In its investment portfolio, the firm currently has an overweight position in international developed equity. Lauren Goodwin, an economist and portfolio strategist at New York Life Investments, said there has been more economic upside in Europe and Canada—two areas in which the firm has increased its investments.</p><p><blockquote>在其投资组合中，该公司目前在国际发达股票中拥有跑赢大盘头寸。纽约人寿投资公司(New York Life Investments)经济学家兼投资组合策略师劳伦·古德温(Lauren Goodwin)表示，欧洲和加拿大的经济上行空间更大，该公司已在这两个地区增加了投资。</blockquote></p><p> Domestically, Ms. Goodwin says she believes the best days for some portions of the market are likely behind us. Still, she says it is too early for investors to go fully defensive. She said the investment firm expects some value and small-cap companies to continue to perform well.</p><p><blockquote>古德温女士表示，在国内，她相信某些市场的最佳时期可能已经过去。不过，她表示，投资者现在采取全面防御还为时过早。她表示，该投资公司预计一些价值型和小盘股公司将继续表现良好。</blockquote></p><p> “The way we’re positioning our portfolios is that we are sticking with the reopening trade but believe...investors will have to invest more time and effort into finding quality companies that will continue to see earnings expansion,” said Ms. Goodwin.</p><p><blockquote>古德温女士表示：“我们定位投资组合的方式是，我们坚持重新开放交易，但相信……投资者将不得不投入更多时间和精力来寻找盈利将继续扩张的优质公司。”</blockquote></p><p> Already there have been signs of weakness within the U.S. stock market in recent trading sessions. All three major indexes declined last week and are currently down for the month. The trend, if continued, would mark the first monthly loss for the S&amp;P 500 since January. In general, September tends to be a historically weak period for the U.S. stock market. This year, in particular, investors are entering the choppy period with uncertainty.</p><p><blockquote>最近几个交易日，美国股市已经出现疲软迹象。三大指数上周均下跌，目前本月均下跌。如果这种趋势持续下去，将标志着标普500自一月份以来首次出现月度亏损。总的来说，9月往往是美股历史上的弱势时期。尤其是今年，投资者正在进入充满不确定性的震荡期。</blockquote></p><p> In the week ahead,&nbsp;investors will be parsing the latest inflation data that will come from the Labor Department’s consumer-price index, due out Tuesday. They will also be on the lookout for any fresh commentary from central bankers on their views of when the Fed will pull back on its asset-buying stimulus program. Some investors and analysts see the tightening of monetary policy as a potential risk for stocks.</p><p><blockquote>未来一周，投资者将分析来自劳工部消费者价格指数的最新通胀数据，该数据将于周二公布。他们还将关注央行行长们对美联储何时退出资产购买刺激计划的看法的任何新评论。一些投资者和分析师将货币政策收紧视为股市的潜在风险。</blockquote></p><p></p><p> In a note last week, analysts at Citi Research said they see another risk for the market: the concern that current bullish positioning could amplify a market selloff. Such long positions on the S&amp;P 500 outnumber shorts 10 to 1, a team of analysts including Chris Montagu wrote, adding that around half of long positions would be in a loss situation if the benchmark index moved below 4435, less than 1% away from Friday’s closing level.</p><p><blockquote>花旗研究部分析师在上周的一份报告中表示，他们看到了市场面临的另一个风险：担心当前的看涨头寸可能会加剧市场抛售。包括Chris Montagu在内的分析师团队写道，标普500的此类多头头寸数量与空头头寸数量为10比1，并补充说，如果基准指数跌破4435点，距离周五收盘水平不到1%，大约一半的多头头寸将处于亏损状态。</blockquote></p><p> “That means a small correction could be amplified by forced long liquidation pushing the market further down,” the Citi note said.</p><p><blockquote>花旗报告称：“这意味着强制多头平仓可能会放大小幅回调，从而推动市场进一步下跌。”</blockquote></p><p> This month’s alarm bells from analysts aren’t the first to be sounded during the current bull market. Throughout 2021, wide-ranging market observers on Wall Street have raised concerns about signs of excess in the market, and investors have periodically braced for a pullback.</p><p><blockquote>本月分析师敲响的警钟并不是当前牛市期间第一次敲响。在整个2021年，华尔街广泛的市场观察人士对市场过剩的迹象表示担忧，投资者定期为回调做好准备。</blockquote></p><p> Still, U.S. stocks have largely kept rising, even in the midst of periodic stretches of declines. On Friday&nbsp;the S&amp;P 500 fell&nbsp;for a fifth consecutive session, its longest losing streak since February, to post a 1.7% loss for the week.</p><p><blockquote>尽管如此，即使在周期性下跌的情况下，美国股市仍基本保持上涨。周五，标普500连续第五个交易日下跌，这是自2月份以来最长的连跌，本周下跌1.7%。</blockquote></p><p> The last time the benchmark index had a weekly loss around that size was the week ended June 18, when it fell 1.9% for the week. The index then went on to rally 4.9% over the next three weeks.</p><p><blockquote>该基准指数上一次出现如此规模的周跌幅是在截至6月18日的一周，当时该指数当周下跌1.9%。该指数在接下来的三周内继续上涨4.9%。</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>U.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn<blockquote>华尔街分析师警告美国股市面临跌跌撞撞的风险</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\">\nU.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn<blockquote>华尔街分析师警告美国股市面临跌跌撞撞的风险</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">WSJ</strong><span class=\"h-time small\">2021-09-13 08:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are starting to warn that investors could be in for a bumpy ride in the coming weeks and months.</p><p><blockquote>在今年美国股市创纪录的牛市之后，许多华尔街分析师开始警告称，投资者在未来几周和几个月可能会经历坎坷。</blockquote></p><p> Analysts at firms including Morgan Stanley, Citigroup Inc., Deutsche Bank AG and Bank of America Corp. published notes this month cautioning about current risks in the U.S. equity market. With the S&amp;P 500 already hitting 54 records this year through Thursday—the most during that period since 1995—several analysts said that they believe there is a growing possibility of a pullback or, at the least, flatter returns.</p><p><blockquote>摩根士丹利、花旗集团、德意志银行和美国银行等公司的分析师本月发表报告，警告美国股市当前的风险。截至周四，标普500今年已创下54项纪录，为1995年以来同期最高纪录，几位分析师表示，他们认为回调的可能性越来越大，或者至少回报率持平。</blockquote></p><p> Behind that cautious outlook, the researchers said, is a combination of things, including&nbsp;euphoric investment sentiment, extended valuations and anticipation that inflation and supply-chain disruptions will weigh on corporate margins.</p><p><blockquote>研究人员表示，这种谨慎前景的背后是多种因素的综合作用，包括乐观的投资情绪、持续的估值以及对通胀和供应链中断将拖累企业利润率的预期。</blockquote></p><p> In a Wednesday note, strategists at BofA Securities said they saw little to be excited about, asking, “What good news is left?” They added, “A lot of optimism is already priced in.”</p><p><blockquote>美国银行证券的策略师在周三的一份报告中表示，他们没有什么值得兴奋的，他们问道：“还剩下什么好消息？”他们补充道，“很多乐观情绪已经被消化了。”</blockquote></p><p> In the note, the Bank of America team led by Savita Subramanian, head of U.S. equity and quantitative strategy, moved its year-end price target for the S&amp;P 500 price to 4250—a 4.7% reduction from the 4458.58 level at which the benchmark index closed Friday. For 2022, Bank of America set a 4600 price target for the end of the year.</p><p><blockquote>在报告中，由美国股票和量化策略主管Savita Subramanian领导的美银团队将标普500年终目标价上调至4250点，较基准指数收盘价4458.58点下跌4.7%周五。对于2022年，美国银行设定了年底4600点的目标价。</blockquote></p><p> The analysts’ cautious outlook for U.S. stocks presents a contrast to the so-called TINA—or “There Is No Alternative”—motto that has dominated investors’ outlook for much of the past year. Because yields on other assets such as bonds have been so low, many investors have justified their continuous bullish positioning in stocks.Accommodative monetary policy&nbsp;from the Federal Reserve has provided a continuous boost for equities this year, too, as has the lure of big investment returns from a swath of companies, ranging from&nbsp;meme stocks&nbsp;to&nbsp;Covid-19 beneficiaries.</p><p><blockquote>分析师对美股的谨慎前景与过去一年大部分时间主导投资者前景的所谓TINA（即“别无选择”）座右铭形成鲜明对比。由于债券等其他资产的收益率一直很低，许多投资者证明了他们持续看涨股票的合理性。美联储的宽松货币政策今年也为股市提供了持续提振，巨额投资的诱惑也是如此。从meme股票到Covid-19受益者等众多公司的回报。</blockquote></p><p> In their September notes, however, some strategists said they were looking at other parts of the market for future gains. In a note last week, Morgan Stanley strategists wrote that they were downgrading their rating on U.S. equities to “underweight,” saying they prefer stocks in Europe and Japan and view cash as increasingly attractive to hold.</p><p><blockquote>然而，一些策略师在9月份的报告中表示，他们正在关注市场的其他部分，以寻求未来的收益。在上周的一份报告中，大摩策略师写道，他们将美股评级下调至“跑输大盘”，称他们更喜欢欧日股票，并认为持有现金的吸引力越来越大。</blockquote></p><p> “We expect an understandable level of eye-rolling as we move overweight cash,” the Morgan Stanley team including Andrew Sheets wrote in the note, adding the caveat that select international equities and other assets are attractive relative to cash. The note continued, “Morgan Stanley strategists forecast cash to outperform U.S. equities, government bonds and credit over the next 12 months.”</p><p><blockquote>包括Andrew Sheets在内的摩根士丹利团队在报告中写道：“我们预计，当我们转移跑赢大盘现金时，会出现可以理解的翻白眼。”并补充说，部分国际股票和其他资产相对于现金具有吸引力。该报告继续说道，“摩根士丹利策略师预测，未来12个月现金的表现将优于美国股票、政府债券和信贷。”</blockquote></p><p> Parts of Morgan Stanley’s forecast are being put to work at New York Life Investments, the investment arm of New York Life Insurance Co. with more than $600 billion in assets under management.</p><p><blockquote>摩根士丹利的部分预测正在纽约人寿投资公司付诸实施，该公司是纽约人寿保险公司的投资部门，管理着超过6000亿美元的资产。</blockquote></p><p> In its investment portfolio, the firm currently has an overweight position in international developed equity. Lauren Goodwin, an economist and portfolio strategist at New York Life Investments, said there has been more economic upside in Europe and Canada—two areas in which the firm has increased its investments.</p><p><blockquote>在其投资组合中，该公司目前在国际发达股票中拥有跑赢大盘头寸。纽约人寿投资公司(New York Life Investments)经济学家兼投资组合策略师劳伦·古德温(Lauren Goodwin)表示，欧洲和加拿大的经济上行空间更大，该公司已在这两个地区增加了投资。</blockquote></p><p> Domestically, Ms. Goodwin says she believes the best days for some portions of the market are likely behind us. Still, she says it is too early for investors to go fully defensive. She said the investment firm expects some value and small-cap companies to continue to perform well.</p><p><blockquote>古德温女士表示，在国内，她相信某些市场的最佳时期可能已经过去。不过，她表示，投资者现在采取全面防御还为时过早。她表示，该投资公司预计一些价值型和小盘股公司将继续表现良好。</blockquote></p><p> “The way we’re positioning our portfolios is that we are sticking with the reopening trade but believe...investors will have to invest more time and effort into finding quality companies that will continue to see earnings expansion,” said Ms. Goodwin.</p><p><blockquote>古德温女士表示：“我们定位投资组合的方式是，我们坚持重新开放交易，但相信……投资者将不得不投入更多时间和精力来寻找盈利将继续扩张的优质公司。”</blockquote></p><p> Already there have been signs of weakness within the U.S. stock market in recent trading sessions. All three major indexes declined last week and are currently down for the month. The trend, if continued, would mark the first monthly loss for the S&amp;P 500 since January. In general, September tends to be a historically weak period for the U.S. stock market. This year, in particular, investors are entering the choppy period with uncertainty.</p><p><blockquote>最近几个交易日，美国股市已经出现疲软迹象。三大指数上周均下跌，目前本月均下跌。如果这种趋势持续下去，将标志着标普500自一月份以来首次出现月度亏损。总的来说，9月往往是美股历史上的弱势时期。尤其是今年，投资者正在进入充满不确定性的震荡期。</blockquote></p><p> In the week ahead,&nbsp;investors will be parsing the latest inflation data that will come from the Labor Department’s consumer-price index, due out Tuesday. They will also be on the lookout for any fresh commentary from central bankers on their views of when the Fed will pull back on its asset-buying stimulus program. Some investors and analysts see the tightening of monetary policy as a potential risk for stocks.</p><p><blockquote>未来一周，投资者将分析来自劳工部消费者价格指数的最新通胀数据，该数据将于周二公布。他们还将关注央行行长们对美联储何时退出资产购买刺激计划的看法的任何新评论。一些投资者和分析师将货币政策收紧视为股市的潜在风险。</blockquote></p><p></p><p> In a note last week, analysts at Citi Research said they see another risk for the market: the concern that current bullish positioning could amplify a market selloff. Such long positions on the S&amp;P 500 outnumber shorts 10 to 1, a team of analysts including Chris Montagu wrote, adding that around half of long positions would be in a loss situation if the benchmark index moved below 4435, less than 1% away from Friday’s closing level.</p><p><blockquote>花旗研究部分析师在上周的一份报告中表示，他们看到了市场面临的另一个风险：担心当前的看涨头寸可能会加剧市场抛售。包括Chris Montagu在内的分析师团队写道，标普500的此类多头头寸数量与空头头寸数量为10比1，并补充说，如果基准指数跌破4435点，距离周五收盘水平不到1%，大约一半的多头头寸将处于亏损状态。</blockquote></p><p> “That means a small correction could be amplified by forced long liquidation pushing the market further down,” the Citi note said.</p><p><blockquote>花旗报告称：“这意味着强制多头平仓可能会放大小幅回调，从而推动市场进一步下跌。”</blockquote></p><p> This month’s alarm bells from analysts aren’t the first to be sounded during the current bull market. Throughout 2021, wide-ranging market observers on Wall Street have raised concerns about signs of excess in the market, and investors have periodically braced for a pullback.</p><p><blockquote>本月分析师敲响的警钟并不是当前牛市期间第一次敲响。在整个2021年，华尔街广泛的市场观察人士对市场过剩的迹象表示担忧，投资者定期为回调做好准备。</blockquote></p><p> Still, U.S. stocks have largely kept rising, even in the midst of periodic stretches of declines. On Friday&nbsp;the S&amp;P 500 fell&nbsp;for a fifth consecutive session, its longest losing streak since February, to post a 1.7% loss for the week.</p><p><blockquote>尽管如此，即使在周期性下跌的情况下，美国股市仍基本保持上涨。周五，标普500连续第五个交易日下跌，这是自2月份以来最长的连跌，本周下跌1.7%。</blockquote></p><p> The last time the benchmark index had a weekly loss around that size was the week ended June 18, when it fell 1.9% for the week. The index then went on to rally 4.9% over the next three weeks.</p><p><blockquote>该基准指数上一次出现如此规模的周跌幅是在截至6月18日的一周，当时该指数当周下跌1.9%。该指数在接下来的三周内继续上涨4.9%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/u-s-stock-market-faces-potentially-bumpy-autumn-wall-street-analysts-warn-11631439002?mod=hp_lead_pos1\">WSJ</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.wsj.com/articles/u-s-stock-market-faces-potentially-bumpy-autumn-wall-street-analysts-warn-11631439002?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190225456","content_text":"After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are starting to warn that investors could be in for a bumpy ride in the coming weeks and months.\nAnalysts at firms including Morgan Stanley, Citigroup Inc., Deutsche Bank AG and Bank of America Corp. published notes this month cautioning about current risks in the U.S. equity market. With the S&P 500 already hitting 54 records this year through Thursday—the most during that period since 1995—several analysts said that they believe there is a growing possibility of a pullback or, at the least, flatter returns.\nBehind that cautious outlook, the researchers said, is a combination of things, including euphoric investment sentiment, extended valuations and anticipation that inflation and supply-chain disruptions will weigh on corporate margins.\nIn a Wednesday note, strategists at BofA Securities said they saw little to be excited about, asking, “What good news is left?” They added, “A lot of optimism is already priced in.”\nIn the note, the Bank of America team led by Savita Subramanian, head of U.S. equity and quantitative strategy, moved its year-end price target for the S&P 500 price to 4250—a 4.7% reduction from the 4458.58 level at which the benchmark index closed Friday. For 2022, Bank of America set a 4600 price target for the end of the year.\nThe analysts’ cautious outlook for U.S. stocks presents a contrast to the so-called TINA—or “There Is No Alternative”—motto that has dominated investors’ outlook for much of the past year. Because yields on other assets such as bonds have been so low, many investors have justified their continuous bullish positioning in stocks.Accommodative monetary policy from the Federal Reserve has provided a continuous boost for equities this year, too, as has the lure of big investment returns from a swath of companies, ranging from meme stocks to Covid-19 beneficiaries.\nIn their September notes, however, some strategists said they were looking at other parts of the market for future gains. In a note last week, Morgan Stanley strategists wrote that they were downgrading their rating on U.S. equities to “underweight,” saying they prefer stocks in Europe and Japan and view cash as increasingly attractive to hold.\n“We expect an understandable level of eye-rolling as we move overweight cash,” the Morgan Stanley team including Andrew Sheets wrote in the note, adding the caveat that select international equities and other assets are attractive relative to cash. The note continued, “Morgan Stanley strategists forecast cash to outperform U.S. equities, government bonds and credit over the next 12 months.”\nParts of Morgan Stanley’s forecast are being put to work at New York Life Investments, the investment arm of New York Life Insurance Co. with more than $600 billion in assets under management.\nIn its investment portfolio, the firm currently has an overweight position in international developed equity. Lauren Goodwin, an economist and portfolio strategist at New York Life Investments, said there has been more economic upside in Europe and Canada—two areas in which the firm has increased its investments.\nDomestically, Ms. Goodwin says she believes the best days for some portions of the market are likely behind us. Still, she says it is too early for investors to go fully defensive. She said the investment firm expects some value and small-cap companies to continue to perform well.\n“The way we’re positioning our portfolios is that we are sticking with the reopening trade but believe...investors will have to invest more time and effort into finding quality companies that will continue to see earnings expansion,” said Ms. Goodwin.\nAlready there have been signs of weakness within the U.S. stock market in recent trading sessions. All three major indexes declined last week and are currently down for the month. The trend, if continued, would mark the first monthly loss for the S&P 500 since January. In general, September tends to be a historically weak period for the U.S. stock market. This year, in particular, investors are entering the choppy period with uncertainty.\nIn the week ahead, investors will be parsing the latest inflation data that will come from the Labor Department’s consumer-price index, due out Tuesday. They will also be on the lookout for any fresh commentary from central bankers on their views of when the Fed will pull back on its asset-buying stimulus program. Some investors and analysts see the tightening of monetary policy as a potential risk for stocks.\nIn a note last week, analysts at Citi Research said they see another risk for the market: the concern that current bullish positioning could amplify a market selloff. Such long positions on the S&P 500 outnumber shorts 10 to 1, a team of analysts including Chris Montagu wrote, adding that around half of long positions would be in a loss situation if the benchmark index moved below 4435, less than 1% away from Friday’s closing level.\n“That means a small correction could be amplified by forced long liquidation pushing the market further down,” the Citi note said.\nThis month’s alarm bells from analysts aren’t the first to be sounded during the current bull market. Throughout 2021, wide-ranging market observers on Wall Street have raised concerns about signs of excess in the market, and investors have periodically braced for a pullback.\nStill, U.S. stocks have largely kept rising, even in the midst of periodic stretches of declines. On Friday the S&P 500 fell for a fifth consecutive session, its longest losing streak since February, to post a 1.7% loss for the week.\nThe last time the benchmark index had a weekly loss around that size was the week ended June 18, when it fell 1.9% for the week. The index then went on to rally 4.9% over the next three weeks.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889181765,"gmtCreate":1631114698157,"gmtModify":1631887249722,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Inflation coming","listText":"Inflation coming","text":"Inflation coming","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/889181765","repostId":"1162593236","repostType":4,"isVote":1,"tweetType":1,"viewCount":1830,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817520695,"gmtCreate":1630976125917,"gmtModify":1631887249734,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"They maybe over exaggerating when talking about gains","listText":"They maybe over exaggerating when talking about gains","text":"They maybe over exaggerating when talking about gains","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/817520695","repostId":"2165809018","repostType":4,"repost":{"id":"2165809018","kind":"highlight","pubTimestamp":1630975805,"share":"https://www.laohu8.com/m/news/2165809018?lang=zh_CN&edition=full","pubTime":"2021-09-07 08:50","market":"us","language":"en","title":"Investors love to boast about their great stock picks, but beware of those who use fancy math to calculate their gains<blockquote>投资者喜欢吹嘘他们出色的股票选择，但要小心那些使用花哨的数学来计算收益的人</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2165809018","media":"MarketWatch","summary":"Even pros rarely beat the stock market\nGetty Images\nBeating the market is so difficult that you'd be","content":"<p>Even pros rarely beat the stock market</p><p><blockquote>即使是专业人士也很少跑赢股市</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c518e42fc389c9a262ce1a76a11d484e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Getty Images</span></p><p><blockquote><p class=\"t-img-caption\"><span>盖蒂图片</span></p></blockquote></p><p> Beating the market is so difficult that you'd be excused for giving up.</p><p><blockquote>战胜市场是如此困难，你放弃是情有可原的。</blockquote></p><p> But unlike what happens when you give up elsewhere in life, in the investment arena it's actually a shrewd strategy for winning.</p><p><blockquote>但与你在生活中其他地方放弃时会发生的情况不同，在投资领域，这实际上是一种精明的获胜策略。</blockquote></p><p> After more than 40 years of rigorously auditing the performance of investment advisers, I have learned that over the long term, buying and holding an index fund that tracks the S&amp;P 500 or other broad index nearly always comes out ahead of all other attempts to do better, such as market timing or picking particular stocks, ETFs and mutual funds.</p><p><blockquote>经过40多年对投资顾问业绩的严格审计，我了解到，从长远来看，购买并持有跟踪标普500或其他广泛指数的指数基金几乎总是领先于所有其他做得更好的尝试，例如市场时机或选择特定股票、ETF和共同基金。</blockquote></p><p> It's amazing when you think about it: What other pursuit in life is there in which you can come close to winning every race by simply sitting on your hands and doing nothing?</p><p><blockquote>当你想到这一点时，你会感到惊讶：生活中还有什么其他的追求，你可以通过简单地袖手旁观，无所事事来接近赢得每一场比赛？</blockquote></p><p> I'm not saying it's impossible to beat the market. What I am saying is that it's very difficult and rare. And it's even rarer for an adviser who beats the market in one period to do so in the successive period as well.</p><p><blockquote>我并不是说不可能战胜市场。我想说的是这非常困难和罕见。在一个时期跑赢市场的顾问在下一个时期也跑赢市场的情况就更罕见了。</blockquote></p><p> I am not the first person to point this out. But what I can contribute to the debate is my extensive performance database that contains real-world returns back to 1980. It compellingly shows how impossibly low your odds are of winning when trying to beat the market.</p><p><blockquote>我不是第一个指出这一点的人。但我能为这场辩论做出贡献的是我广泛的绩效数据库，其中包含了1980年以来的真实世界回报。它令人信服地表明，当你试图击败市场时，你的胜算是多么低。</blockquote></p><p> My first step in drawing investment lessons from my huge database was to construct a list of investment newsletter portfolios that at any point since 1980 were in the top 10% for performance in a given calendar year. Given how many newsletters my Hulbert Financial Digest has monitored over the years, this list of top decile performers was sizable, containing more than 1,500 portfolios. By construction, the percentiles of their performance rank all fell between 90 and 100, and averaged 95.</p><p><blockquote>我从庞大的数据库中汲取投资经验的第一步是构建一个投资通讯投资组合列表，这些投资组合自1980年以来在给定日历年的任何时候都处于业绩前10%的位置。考虑到《我的赫伯特金融文摘》多年来监测的时事通讯数量，这份表现最好的十分之一的名单相当大，包含超过1,500个投资组合。从结构上看，他们的表现排名都在90到100之间，平均为95。</blockquote></p><p> What I wanted to measure was how these newsletter portfolios performed in the immediately succeeding year. If performance were a matter of pure skill, then we'd expect that they would have been in the top decile for performance in that second year as well--with an average percentile rank that also was 95.</p><p><blockquote>我想衡量的是这些时事通讯组合在接下来的一年中的表现。如果表现是一个纯粹的技能问题，那么我们预计他们在第二年的表现也会排在前十分位——平均百分位排名也是95。</blockquote></p><p> That's not what I found, however--not by a long shot. These newsletters' average percentile rank in that second year was just 51.5. That is statistically similar to the 50.0 it would have been if performance were a matter of pure luck.</p><p><blockquote>然而，这不是我发现的——一点也不。这些时事通讯在第二年的平均百分位排名仅为51.5。从统计数据来看，这与如果表现纯粹是运气问题，则为50.0相似。</blockquote></p><p> I next repeated this analysis for each of the other nine deciles for initial-year performance rank. As you can see from this chart, their expected ranks in the successive years were very close to the 50 percentile, regardless of their performance in the initial year.</p><p><blockquote>接下来，我对第一年绩效排名的其他九个十分位数重复了这一分析。从这张图表中可以看出，无论他们第一年的表现如何，他们在随后几年的预期排名都非常接近50%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ebfad8a8d9638e4b57cf085b425e5742\" tg-width=\"700\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The only exception came for newsletters in the bottom 10% for first-year return. The average second-year percentile ranking was 38.8--significantly below what you'd expect if performance were a matter of pure luck. In other words, it's a decent bet that one year's worst adviser will have a below-average performance in the subsequent year too.</p><p><blockquote>唯一的例外是第一年回报率垫底10%的时事通讯。第二年的平均百分位排名为38.8——如果表现纯粹是运气问题，这远远低于你的预期。换句话说，一年最差的顾问在下一年的表现也将低于平均水平，这是一个不错的赌注。</blockquote></p><p> What these results mean: While investment advisory performance is not a matter of pure randomness, the deviations from randomness primarily occur among the worst performers--not the best. Unfortunately that doesn't help us to beat the market.</p><p><blockquote>这些结果意味着什么：虽然投资咨询的表现不是纯粹的随机性问题，但与随机性的偏差主要发生在表现最差的人身上，而不是表现最好的人。不幸的是，这并不能帮助我们战胜市场。</blockquote></p><p> By the way, don't think that you can wriggle out from these conclusions by arguing that other kinds of advisers are better than newsletter editors. At least in regards to the persistence (or lack thereof) between past and future performance, newsletter editors are no different than managers of mutual funds, ETFs, hedge funds and private-equity funds.</p><p><blockquote>顺便说一句，不要认为你可以通过争论其他类型的顾问比时事通讯编辑更好来摆脱这些结论。至少就过去和未来表现之间的持久性（或缺乏持久性）而言，时事通讯编辑与共同基金、ETF、对冲基金和私募股权基金的经理没有什么不同。</blockquote></p><p> <b>Beware of arrogance</b></p><p><blockquote><b>谨防傲慢</b></blockquote></p><p> While I believe the data are conclusive, I'm not holding my breath that it will persuade many of you to throw in the towel and go with an index fund. That's because the typical investor all too often believes that the poor odds of beating the market apply to everyone else but not to him individually.</p><p><blockquote>虽然我相信这些数据是确凿的，但我并不认为它会说服你们中的许多人认输并选择指数基金。这是因为典型的投资者往往认为，战胜市场的可能性很小，适用于其他人，但不适用于他个人。</blockquote></p><p> It reminds me of the famous study in which almost all of us indicate we're better-than-average drivers.</p><p><blockquote>这让我想起了一项著名的研究，在这项研究中，几乎所有人都表示我们是比平均水平更好的司机。</blockquote></p><p> This arrogance has obviously dangerous consequences on our roads and highways. But it's dangerous in the investment arena as well because it leads investors into incurring greater and greater risks.</p><p><blockquote>这种傲慢显然对我们的道路和高速公路产生了危险的后果。但这在投资领域也是危险的，因为它会导致投资者承担越来越大的风险。</blockquote></p><p> That creates a downward spiral: When the arrogant investor starts losing to the market, which inevitably happens sooner or later, he pursues an even riskier strategy to make up for his prior loss. That in turn invariably leads him to suffer even greater losses. And the cycle repeats.</p><p><blockquote>这就造成了一个螺旋式下降：当傲慢的投资者开始输给市场时（这迟早不可避免地会发生），他会采取风险更大的策略来弥补之前的损失。这反过来又不可避免地导致他遭受更大的损失。循环重复。</blockquote></p><p></p><p> The temptation of arrogance is particularly evident when it comes to social media. Psychologists have found that younger investors are far more inclined to pursue risky strategies when they are being watched than when operating alone. This helps to explain the bravado that so frequently is exhibited on investment-focused social media platforms.</p><p><blockquote>当涉及到社交媒体时，傲慢的诱惑尤其明显。心理学家发现，年轻投资者在被监视时远比独自操作时更倾向于追求高风险策略。这有助于解释以投资为重点的社交媒体平台上经常表现出的虚张声势。</blockquote></p><p> Buying and holding an index fund is boring. Adherents are rarely drawn to social media in the first place, and even if they are, they rarely post that they are continuing to hold the same investment they've had for years.</p><p><blockquote>购买并持有指数基金很无聊。追随者很少首先被社交媒体吸引，即使他们被吸引，他们也很少发布他们继续持有多年来的相同投资。</blockquote></p><p> <b>Beware of this trick, too</b></p><p><blockquote><b>也要小心这招</b></blockquote></p><p> A similar dynamic leads those who frequent social media to brag about their spectacular winners while ignoring their losers. One frequent way they do it is to annualize their returns from a short-term trade and then boast about that figure. Imagine a stock that goes from $10 to $11 in a week's time. In itself, that doesn't seem particularly remarkable. On an annualized basis, however, that is equivalent to a gain of more than 14,000%.</p><p><blockquote>类似的动态导致那些经常使用社交媒体的人吹嘘他们壮观的赢家，而忽视他们的输家。他们经常这样做的一种方式是将短期交易的回报按年计算，然后吹嘘这个数字。想象一下，一只股票在一周内从10美元涨到11美元。就其本身而言，这似乎并不特别引人注目。然而，按年化计算，这相当于超过14,000%的收益。</blockquote></p><p> Readers of these social media boasts initially must believe they are the only ones with a mixture of both winning and losing trades. Only later do they discover the unspoken rules of social media platforms: it's bad form to ask fellow investors about their losers, just like it's poor etiquette after a round of golf to ask the boastful golfer whether he actually beat par.</p><p><blockquote>这些社交媒体吹嘘的读者最初必须相信他们是唯一一个既有输赢交易的人。直到后来，他们才发现社交媒体平台的潜规则：向其他投资者询问他们的输家是一种糟糕的形式，就像在一轮高尔夫球后询问自吹自擂的高尔夫球手是否真的打出了标准杆是一种糟糕的礼仪一样。</blockquote></p><p> Humility is a virtue in the investment area. We would do well to remember Socrates' famous line: \"I am the wisest man alive, for I know one thing, and that is that I know nothing.\"</p><p><blockquote>谦逊是投资领域的一种美德。我们最好记住苏格拉底的名言：“我是世上最聪明的人，因为我知道一件事，那就是我什么都不知道。”</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors love to boast about their great stock picks, but beware of those who use fancy math to calculate their gains<blockquote>投资者喜欢吹嘘他们出色的股票选择，但要小心那些使用花哨的数学来计算收益的人</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\">\nInvestors love to boast about their great stock picks, but beware of those who use fancy math to calculate their gains<blockquote>投资者喜欢吹嘘他们出色的股票选择，但要小心那些使用花哨的数学来计算收益的人</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-07 08:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Even pros rarely beat the stock market</p><p><blockquote>即使是专业人士也很少跑赢股市</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c518e42fc389c9a262ce1a76a11d484e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Getty Images</span></p><p><blockquote><p class=\"t-img-caption\"><span>盖蒂图片</span></p></blockquote></p><p> Beating the market is so difficult that you'd be excused for giving up.</p><p><blockquote>战胜市场是如此困难，你放弃是情有可原的。</blockquote></p><p> But unlike what happens when you give up elsewhere in life, in the investment arena it's actually a shrewd strategy for winning.</p><p><blockquote>但与你在生活中其他地方放弃时会发生的情况不同，在投资领域，这实际上是一种精明的获胜策略。</blockquote></p><p> After more than 40 years of rigorously auditing the performance of investment advisers, I have learned that over the long term, buying and holding an index fund that tracks the S&amp;P 500 or other broad index nearly always comes out ahead of all other attempts to do better, such as market timing or picking particular stocks, ETFs and mutual funds.</p><p><blockquote>经过40多年对投资顾问业绩的严格审计，我了解到，从长远来看，购买并持有跟踪标普500或其他广泛指数的指数基金几乎总是领先于所有其他做得更好的尝试，例如市场时机或选择特定股票、ETF和共同基金。</blockquote></p><p> It's amazing when you think about it: What other pursuit in life is there in which you can come close to winning every race by simply sitting on your hands and doing nothing?</p><p><blockquote>当你想到这一点时，你会感到惊讶：生活中还有什么其他的追求，你可以通过简单地袖手旁观，无所事事来接近赢得每一场比赛？</blockquote></p><p> I'm not saying it's impossible to beat the market. What I am saying is that it's very difficult and rare. And it's even rarer for an adviser who beats the market in one period to do so in the successive period as well.</p><p><blockquote>我并不是说不可能战胜市场。我想说的是这非常困难和罕见。在一个时期跑赢市场的顾问在下一个时期也跑赢市场的情况就更罕见了。</blockquote></p><p> I am not the first person to point this out. But what I can contribute to the debate is my extensive performance database that contains real-world returns back to 1980. It compellingly shows how impossibly low your odds are of winning when trying to beat the market.</p><p><blockquote>我不是第一个指出这一点的人。但我能为这场辩论做出贡献的是我广泛的绩效数据库，其中包含了1980年以来的真实世界回报。它令人信服地表明，当你试图击败市场时，你的胜算是多么低。</blockquote></p><p> My first step in drawing investment lessons from my huge database was to construct a list of investment newsletter portfolios that at any point since 1980 were in the top 10% for performance in a given calendar year. Given how many newsletters my Hulbert Financial Digest has monitored over the years, this list of top decile performers was sizable, containing more than 1,500 portfolios. By construction, the percentiles of their performance rank all fell between 90 and 100, and averaged 95.</p><p><blockquote>我从庞大的数据库中汲取投资经验的第一步是构建一个投资通讯投资组合列表，这些投资组合自1980年以来在给定日历年的任何时候都处于业绩前10%的位置。考虑到《我的赫伯特金融文摘》多年来监测的时事通讯数量，这份表现最好的十分之一的名单相当大，包含超过1,500个投资组合。从结构上看，他们的表现排名都在90到100之间，平均为95。</blockquote></p><p> What I wanted to measure was how these newsletter portfolios performed in the immediately succeeding year. If performance were a matter of pure skill, then we'd expect that they would have been in the top decile for performance in that second year as well--with an average percentile rank that also was 95.</p><p><blockquote>我想衡量的是这些时事通讯组合在接下来的一年中的表现。如果表现是一个纯粹的技能问题，那么我们预计他们在第二年的表现也会排在前十分位——平均百分位排名也是95。</blockquote></p><p> That's not what I found, however--not by a long shot. These newsletters' average percentile rank in that second year was just 51.5. That is statistically similar to the 50.0 it would have been if performance were a matter of pure luck.</p><p><blockquote>然而，这不是我发现的——一点也不。这些时事通讯在第二年的平均百分位排名仅为51.5。从统计数据来看，这与如果表现纯粹是运气问题，则为50.0相似。</blockquote></p><p> I next repeated this analysis for each of the other nine deciles for initial-year performance rank. As you can see from this chart, their expected ranks in the successive years were very close to the 50 percentile, regardless of their performance in the initial year.</p><p><blockquote>接下来，我对第一年绩效排名的其他九个十分位数重复了这一分析。从这张图表中可以看出，无论他们第一年的表现如何，他们在随后几年的预期排名都非常接近50%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ebfad8a8d9638e4b57cf085b425e5742\" tg-width=\"700\" tg-height=\"569\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The only exception came for newsletters in the bottom 10% for first-year return. The average second-year percentile ranking was 38.8--significantly below what you'd expect if performance were a matter of pure luck. In other words, it's a decent bet that one year's worst adviser will have a below-average performance in the subsequent year too.</p><p><blockquote>唯一的例外是第一年回报率垫底10%的时事通讯。第二年的平均百分位排名为38.8——如果表现纯粹是运气问题，这远远低于你的预期。换句话说，一年最差的顾问在下一年的表现也将低于平均水平，这是一个不错的赌注。</blockquote></p><p> What these results mean: While investment advisory performance is not a matter of pure randomness, the deviations from randomness primarily occur among the worst performers--not the best. Unfortunately that doesn't help us to beat the market.</p><p><blockquote>这些结果意味着什么：虽然投资咨询的表现不是纯粹的随机性问题，但与随机性的偏差主要发生在表现最差的人身上，而不是表现最好的人。不幸的是，这并不能帮助我们战胜市场。</blockquote></p><p> By the way, don't think that you can wriggle out from these conclusions by arguing that other kinds of advisers are better than newsletter editors. At least in regards to the persistence (or lack thereof) between past and future performance, newsletter editors are no different than managers of mutual funds, ETFs, hedge funds and private-equity funds.</p><p><blockquote>顺便说一句，不要认为你可以通过争论其他类型的顾问比时事通讯编辑更好来摆脱这些结论。至少就过去和未来表现之间的持久性（或缺乏持久性）而言，时事通讯编辑与共同基金、ETF、对冲基金和私募股权基金的经理没有什么不同。</blockquote></p><p> <b>Beware of arrogance</b></p><p><blockquote><b>谨防傲慢</b></blockquote></p><p> While I believe the data are conclusive, I'm not holding my breath that it will persuade many of you to throw in the towel and go with an index fund. That's because the typical investor all too often believes that the poor odds of beating the market apply to everyone else but not to him individually.</p><p><blockquote>虽然我相信这些数据是确凿的，但我并不认为它会说服你们中的许多人认输并选择指数基金。这是因为典型的投资者往往认为，战胜市场的可能性很小，适用于其他人，但不适用于他个人。</blockquote></p><p> It reminds me of the famous study in which almost all of us indicate we're better-than-average drivers.</p><p><blockquote>这让我想起了一项著名的研究，在这项研究中，几乎所有人都表示我们是比平均水平更好的司机。</blockquote></p><p> This arrogance has obviously dangerous consequences on our roads and highways. But it's dangerous in the investment arena as well because it leads investors into incurring greater and greater risks.</p><p><blockquote>这种傲慢显然对我们的道路和高速公路产生了危险的后果。但这在投资领域也是危险的，因为它会导致投资者承担越来越大的风险。</blockquote></p><p> That creates a downward spiral: When the arrogant investor starts losing to the market, which inevitably happens sooner or later, he pursues an even riskier strategy to make up for his prior loss. That in turn invariably leads him to suffer even greater losses. And the cycle repeats.</p><p><blockquote>这就造成了一个螺旋式下降：当傲慢的投资者开始输给市场时（这迟早不可避免地会发生），他会采取风险更大的策略来弥补之前的损失。这反过来又不可避免地导致他遭受更大的损失。循环重复。</blockquote></p><p></p><p> The temptation of arrogance is particularly evident when it comes to social media. Psychologists have found that younger investors are far more inclined to pursue risky strategies when they are being watched than when operating alone. This helps to explain the bravado that so frequently is exhibited on investment-focused social media platforms.</p><p><blockquote>当涉及到社交媒体时，傲慢的诱惑尤其明显。心理学家发现，年轻投资者在被监视时远比独自操作时更倾向于追求高风险策略。这有助于解释以投资为重点的社交媒体平台上经常表现出的虚张声势。</blockquote></p><p> Buying and holding an index fund is boring. Adherents are rarely drawn to social media in the first place, and even if they are, they rarely post that they are continuing to hold the same investment they've had for years.</p><p><blockquote>购买并持有指数基金很无聊。追随者很少首先被社交媒体吸引，即使他们被吸引，他们也很少发布他们继续持有多年来的相同投资。</blockquote></p><p> <b>Beware of this trick, too</b></p><p><blockquote><b>也要小心这招</b></blockquote></p><p> A similar dynamic leads those who frequent social media to brag about their spectacular winners while ignoring their losers. One frequent way they do it is to annualize their returns from a short-term trade and then boast about that figure. Imagine a stock that goes from $10 to $11 in a week's time. In itself, that doesn't seem particularly remarkable. On an annualized basis, however, that is equivalent to a gain of more than 14,000%.</p><p><blockquote>类似的动态导致那些经常使用社交媒体的人吹嘘他们壮观的赢家，而忽视他们的输家。他们经常这样做的一种方式是将短期交易的回报按年计算，然后吹嘘这个数字。想象一下，一只股票在一周内从10美元涨到11美元。就其本身而言，这似乎并不特别引人注目。然而，按年化计算，这相当于超过14,000%的收益。</blockquote></p><p> Readers of these social media boasts initially must believe they are the only ones with a mixture of both winning and losing trades. Only later do they discover the unspoken rules of social media platforms: it's bad form to ask fellow investors about their losers, just like it's poor etiquette after a round of golf to ask the boastful golfer whether he actually beat par.</p><p><blockquote>这些社交媒体吹嘘的读者最初必须相信他们是唯一一个既有输赢交易的人。直到后来，他们才发现社交媒体平台的潜规则：向其他投资者询问他们的输家是一种糟糕的形式，就像在一轮高尔夫球后询问自吹自擂的高尔夫球手是否真的打出了标准杆是一种糟糕的礼仪一样。</blockquote></p><p> Humility is a virtue in the investment area. We would do well to remember Socrates' famous line: \"I am the wisest man alive, for I know one thing, and that is that I know nothing.\"</p><p><blockquote>谦逊是投资领域的一种美德。我们最好记住苏格拉底的名言：“我是世上最聪明的人，因为我知道一件事，那就是我什么都不知道。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/investors-love-to-boast-about-their-great-stock-picks-but-beware-of-those-who-use-fancy-math-to-calculate-their-gains-11630784143?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/investors-love-to-boast-about-their-great-stock-picks-but-beware-of-those-who-use-fancy-math-to-calculate-their-gains-11630784143?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165809018","content_text":"Even pros rarely beat the stock market\nGetty Images\nBeating the market is so difficult that you'd be excused for giving up.\nBut unlike what happens when you give up elsewhere in life, in the investment arena it's actually a shrewd strategy for winning.\nAfter more than 40 years of rigorously auditing the performance of investment advisers, I have learned that over the long term, buying and holding an index fund that tracks the S&P 500 or other broad index nearly always comes out ahead of all other attempts to do better, such as market timing or picking particular stocks, ETFs and mutual funds.\nIt's amazing when you think about it: What other pursuit in life is there in which you can come close to winning every race by simply sitting on your hands and doing nothing?\nI'm not saying it's impossible to beat the market. What I am saying is that it's very difficult and rare. And it's even rarer for an adviser who beats the market in one period to do so in the successive period as well.\nI am not the first person to point this out. But what I can contribute to the debate is my extensive performance database that contains real-world returns back to 1980. It compellingly shows how impossibly low your odds are of winning when trying to beat the market.\nMy first step in drawing investment lessons from my huge database was to construct a list of investment newsletter portfolios that at any point since 1980 were in the top 10% for performance in a given calendar year. Given how many newsletters my Hulbert Financial Digest has monitored over the years, this list of top decile performers was sizable, containing more than 1,500 portfolios. By construction, the percentiles of their performance rank all fell between 90 and 100, and averaged 95.\nWhat I wanted to measure was how these newsletter portfolios performed in the immediately succeeding year. If performance were a matter of pure skill, then we'd expect that they would have been in the top decile for performance in that second year as well--with an average percentile rank that also was 95.\nThat's not what I found, however--not by a long shot. These newsletters' average percentile rank in that second year was just 51.5. That is statistically similar to the 50.0 it would have been if performance were a matter of pure luck.\nI next repeated this analysis for each of the other nine deciles for initial-year performance rank. As you can see from this chart, their expected ranks in the successive years were very close to the 50 percentile, regardless of their performance in the initial year.\n\nThe only exception came for newsletters in the bottom 10% for first-year return. The average second-year percentile ranking was 38.8--significantly below what you'd expect if performance were a matter of pure luck. In other words, it's a decent bet that one year's worst adviser will have a below-average performance in the subsequent year too.\nWhat these results mean: While investment advisory performance is not a matter of pure randomness, the deviations from randomness primarily occur among the worst performers--not the best. Unfortunately that doesn't help us to beat the market.\nBy the way, don't think that you can wriggle out from these conclusions by arguing that other kinds of advisers are better than newsletter editors. At least in regards to the persistence (or lack thereof) between past and future performance, newsletter editors are no different than managers of mutual funds, ETFs, hedge funds and private-equity funds.\nBeware of arrogance\nWhile I believe the data are conclusive, I'm not holding my breath that it will persuade many of you to throw in the towel and go with an index fund. That's because the typical investor all too often believes that the poor odds of beating the market apply to everyone else but not to him individually.\nIt reminds me of the famous study in which almost all of us indicate we're better-than-average drivers.\nThis arrogance has obviously dangerous consequences on our roads and highways. But it's dangerous in the investment arena as well because it leads investors into incurring greater and greater risks.\nThat creates a downward spiral: When the arrogant investor starts losing to the market, which inevitably happens sooner or later, he pursues an even riskier strategy to make up for his prior loss. That in turn invariably leads him to suffer even greater losses. And the cycle repeats.\nThe temptation of arrogance is particularly evident when it comes to social media. Psychologists have found that younger investors are far more inclined to pursue risky strategies when they are being watched than when operating alone. This helps to explain the bravado that so frequently is exhibited on investment-focused social media platforms.\nBuying and holding an index fund is boring. Adherents are rarely drawn to social media in the first place, and even if they are, they rarely post that they are continuing to hold the same investment they've had for years.\nBeware of this trick, too\nA similar dynamic leads those who frequent social media to brag about their spectacular winners while ignoring their losers. One frequent way they do it is to annualize their returns from a short-term trade and then boast about that figure. Imagine a stock that goes from $10 to $11 in a week's time. In itself, that doesn't seem particularly remarkable. On an annualized basis, however, that is equivalent to a gain of more than 14,000%.\nReaders of these social media boasts initially must believe they are the only ones with a mixture of both winning and losing trades. Only later do they discover the unspoken rules of social media platforms: it's bad form to ask fellow investors about their losers, just like it's poor etiquette after a round of golf to ask the boastful golfer whether he actually beat par.\nHumility is a virtue in the investment area. We would do well to remember Socrates' famous line: \"I am the wisest man alive, for I know one thing, and that is that I know nothing.\"","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817909507,"gmtCreate":1630894437909,"gmtModify":1631887249745,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Can rest for 1 night at Wallstreet","listText":"Can rest for 1 night at Wallstreet","text":"Can rest for 1 night at Wallstreet","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/817909507","repostId":"1126654067","repostType":4,"repost":{"id":"1126654067","kind":"news","pubTimestamp":1630885254,"share":"https://www.laohu8.com/m/news/1126654067?lang=zh_CN&edition=full","pubTime":"2021-09-06 07:40","market":"us","language":"en","title":"Is the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126654067","media":"MarketWatch","summary":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be cl","content":"<p>It is unofficially summer’s last hurrah for Wall Street investors.</p><p><blockquote>对于华尔街投资者来说，这是非正式的夏季最后一次欢呼。</blockquote></p><p> U.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.</p><p><blockquote>美国金融市场将于9月6日周一因劳动节休市，这标志着美国为期三天的周末，此前股市经历了一段非常壮观的走势。尽管人们担心冠状病毒德尔塔变异毒株的蔓延，并对美联储去年大流行开始时实施的宽松货币政策最终回滚的时间表感到不安，但股市还是出现了反弹。</blockquote></p><p> On Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc.&nbsp;-owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average,&nbsp;S&amp;P 500&nbsp;or Nasdaq Composite indexes.</p><p><blockquote>周一，包括洲际交易所旗下的纽约证券交易所和纳斯达克在内的美国证券交易所将休市，因此不要寻找道琼斯工业平均指数、标准普尔500指数或纳斯达克综合指数等个股或指数的任何走势。</blockquote></p><p> The S&amp;P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite&nbsp;was on track to book its 35th&nbsp;all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.</p><p><blockquote>标普500在2021年已经创下了54个历史收盘新高，并有望在周五创下第55个历史新高，而纳斯达克综合指数有望创下今年第35个历史新高。周五下午，道琼斯指数较8月16日的纪录上涨了不到一个百分点。</blockquote></p><p> Sifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was&nbsp;yielding around 1.33%&nbsp;after the U.S. August jobs report came in weaker than expected.</p><p><blockquote>证券行业固定收益贸易组织Sifma也建议债券市场在劳动节休市，包括10年期国债交易，在美国8月就业报告公布后，该国债收益率约为1.33%。低于预期。</blockquote></p><p> However, the&nbsp;Labor Department’s employment report,which showed that&nbsp;235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.</p><p><blockquote>然而，美国劳工部的就业报告显示，8月份新增就业岗位23.5万个，远低于预期的70多万个，但这未能降低主权债务投资者对美联储近期宣布缩减每月1200亿美元美国国债和抵押贷款支持证券购买规模的预期。</blockquote></p><p> Trading in most commodity futures, including Nymex crude-oil&nbsp;and Comex gold,on U.S. exchanges will also be halted Monday.</p><p><blockquote>美国交易所的大多数商品期货交易，包括纽约商品交易所原油和纽约商品交易所黄金，也将于周一停止。</blockquote></p><p> Is there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?</p><p><blockquote>除了在美国度假和烧烤之外，这个假期对普通投资者还有什么意义吗？</blockquote></p><p> Probably not.</p><p><blockquote>应该不会吧。</blockquote></p><p> But the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.</p><p><blockquote>但根据道琼斯市场数据，近年来，五月阵亡将士纪念日至九月劳动节期间对投资者来说是一段看涨的时期。例如，道琼斯指数在此期间上涨了约2%，平均涨幅为1.3%，65%的时间创造了上涨记录。在过去的六个阵亡将士纪念日/劳动节期间，道琼斯指数目前正在享受连胜，这是自1989年以来最长的连胜。去年，市场同期上涨了近15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3f0f061a4ddd2ca31c53f8aa68e3cce\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> The S&amp;P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.</p><p><blockquote>标普500也取得了类似的连胜，在阵亡将士纪念日至劳动节期间迄今为止已上涨近8%。过去几年同期上涨了70%以上，平均涨幅为1.7%。2020年期间，大盘指数上涨了16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c780a46e32d055feb3e3f5e10fc987f\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> But if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s&nbsp;Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.</p><p><blockquote>但如果劳动节交易中存在真正的趋势，那么MarketWatch的Steve Goldstein援引Raymond James策略师Tavis McCourt的话说，在过去两年中，股市存在很大的价值和周期性偏差。节后股市，2018年，夏季接近尾声后市场基本崩溃。</blockquote></p><p> It is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.</p><p><blockquote>不可能知道这一次股市涨势是否会以类似的方式逐渐消失，但华尔街越来越多的人认为估值过高，股指将从当前高度回调至少5%或更好。</blockquote></p><p> Markets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100&nbsp;index and the pan-European Stoxx Europe 600&nbsp;will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng&nbsp;and the Shanghai Composite Index.</p><p><blockquote>市场将于周二恢复照常营业，当然，欧洲证券交易所，包括伦敦富时100指数和泛欧斯托克欧洲600指数，以及亚洲市场、日经225指数、香港恒生指数和上证综合指数。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-06 07:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It is unofficially summer’s last hurrah for Wall Street investors.</p><p><blockquote>对于华尔街投资者来说，这是非正式的夏季最后一次欢呼。</blockquote></p><p> U.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.</p><p><blockquote>美国金融市场将于9月6日周一因劳动节休市，这标志着美国为期三天的周末，此前股市经历了一段非常壮观的走势。尽管人们担心冠状病毒德尔塔变异毒株的蔓延，并对美联储去年大流行开始时实施的宽松货币政策最终回滚的时间表感到不安，但股市还是出现了反弹。</blockquote></p><p> On Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc.&nbsp;-owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average,&nbsp;S&amp;P 500&nbsp;or Nasdaq Composite indexes.</p><p><blockquote>周一，包括洲际交易所旗下的纽约证券交易所和纳斯达克在内的美国证券交易所将休市，因此不要寻找道琼斯工业平均指数、标准普尔500指数或纳斯达克综合指数等个股或指数的任何走势。</blockquote></p><p> The S&amp;P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite&nbsp;was on track to book its 35th&nbsp;all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.</p><p><blockquote>标普500在2021年已经创下了54个历史收盘新高，并有望在周五创下第55个历史新高，而纳斯达克综合指数有望创下今年第35个历史新高。周五下午，道琼斯指数较8月16日的纪录上涨了不到一个百分点。</blockquote></p><p> Sifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was&nbsp;yielding around 1.33%&nbsp;after the U.S. August jobs report came in weaker than expected.</p><p><blockquote>证券行业固定收益贸易组织Sifma也建议债券市场在劳动节休市，包括10年期国债交易，在美国8月就业报告公布后，该国债收益率约为1.33%。低于预期。</blockquote></p><p> However, the&nbsp;Labor Department’s employment report,which showed that&nbsp;235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.</p><p><blockquote>然而，美国劳工部的就业报告显示，8月份新增就业岗位23.5万个，远低于预期的70多万个，但这未能降低主权债务投资者对美联储近期宣布缩减每月1200亿美元美国国债和抵押贷款支持证券购买规模的预期。</blockquote></p><p> Trading in most commodity futures, including Nymex crude-oil&nbsp;and Comex gold,on U.S. exchanges will also be halted Monday.</p><p><blockquote>美国交易所的大多数商品期货交易，包括纽约商品交易所原油和纽约商品交易所黄金，也将于周一停止。</blockquote></p><p> Is there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?</p><p><blockquote>除了在美国度假和烧烤之外，这个假期对普通投资者还有什么意义吗？</blockquote></p><p> Probably not.</p><p><blockquote>应该不会吧。</blockquote></p><p> But the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.</p><p><blockquote>但根据道琼斯市场数据，近年来，五月阵亡将士纪念日至九月劳动节期间对投资者来说是一段看涨的时期。例如，道琼斯指数在此期间上涨了约2%，平均涨幅为1.3%，65%的时间创造了上涨记录。在过去的六个阵亡将士纪念日/劳动节期间，道琼斯指数目前正在享受连胜，这是自1989年以来最长的连胜。去年，市场同期上涨了近15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3f0f061a4ddd2ca31c53f8aa68e3cce\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> The S&amp;P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.</p><p><blockquote>标普500也取得了类似的连胜，在阵亡将士纪念日至劳动节期间迄今为止已上涨近8%。过去几年同期上涨了70%以上，平均涨幅为1.7%。2020年期间，大盘指数上涨了16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c780a46e32d055feb3e3f5e10fc987f\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> But if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s&nbsp;Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.</p><p><blockquote>但如果劳动节交易中存在真正的趋势，那么MarketWatch的Steve Goldstein援引Raymond James策略师Tavis McCourt的话说，在过去两年中，股市存在很大的价值和周期性偏差。节后股市，2018年，夏季接近尾声后市场基本崩溃。</blockquote></p><p> It is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.</p><p><blockquote>不可能知道这一次股市涨势是否会以类似的方式逐渐消失，但华尔街越来越多的人认为估值过高，股指将从当前高度回调至少5%或更好。</blockquote></p><p> Markets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100&nbsp;index and the pan-European Stoxx Europe 600&nbsp;will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng&nbsp;and the Shanghai Composite Index.</p><p><blockquote>市场将于周二恢复照常营业，当然，欧洲证券交易所，包括伦敦富时100指数和泛欧斯托克欧洲600指数，以及亚洲市场、日经225指数、香港恒生指数和上证综合指数。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","ICE":"洲际交易所",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126654067","content_text":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.\nOn Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc. -owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average, S&P 500 or Nasdaq Composite indexes.\nThe S&P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite was on track to book its 35th all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.\nSifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was yielding around 1.33% after the U.S. August jobs report came in weaker than expected.\nHowever, the Labor Department’s employment report,which showed that 235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.\nTrading in most commodity futures, including Nymex crude-oil and Comex gold,on U.S. exchanges will also be halted Monday.\nIs there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?\nProbably not.\nBut the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.\nDOW JONES MARKET DATA\nThe S&P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.\nDOW JONES MARKET DATA\nBut if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.\nIt is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.\nMarkets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100 index and the pan-European Stoxx Europe 600 will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng and the Shanghai Composite Index.","news_type":1,"symbols_score_info":{".SPX":0.9,"ICE":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":380,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815917190,"gmtCreate":1630635172810,"gmtModify":1631887249759,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Stock will rise end of year","listText":"Stock will rise end of year","text":"Stock will rise end of year","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/815917190","repostId":"2164824410","repostType":4,"isVote":1,"tweetType":1,"viewCount":591,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812550348,"gmtCreate":1630596028084,"gmtModify":1631887249766,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Great news for fastly","listText":"Great news for fastly","text":"Great news for fastly","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/812550348","repostId":"1166895425","repostType":4,"isVote":1,"tweetType":1,"viewCount":494,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818051586,"gmtCreate":1630367564745,"gmtModify":1704959099684,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Record high after record high but my portfolio is still in red&nbsp;","listText":"Record high after record high but my portfolio is still in red&nbsp;","text":"Record high after record high but my portfolio is still in red","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/818051586","repostId":"2163833181","repostType":4,"isVote":1,"tweetType":1,"viewCount":345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811988039,"gmtCreate":1630283805621,"gmtModify":1704957731446,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Reluctant to buy as the min lot can be crazy","listText":"Reluctant to buy as the min lot can be crazy","text":"Reluctant to buy as the min lot can be crazy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/811988039","repostId":"1117883263","repostType":4,"isVote":1,"tweetType":1,"viewCount":732,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813992681,"gmtCreate":1630118497143,"gmtModify":1704956233447,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Looking to see how well it will do","listText":"Looking to see how well it will do","text":"Looking to see how well it will do","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/813992681","repostId":"1162964424","repostType":4,"repost":{"id":"1162964424","kind":"news","pubTimestamp":1630111098,"share":"https://www.laohu8.com/m/news/1162964424?lang=zh_CN&edition=full","pubTime":"2021-08-28 08:38","market":"us","language":"en","title":"Apple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162964424","media":"TheStreet","summary":"Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.IPhone users thinking of upgrading their devices this year  should expect to reach deeper into their pockets. DigiTimes has reported that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.Bad news for consumers could be great news for Apple stock investors. If the price increase is con","content":"<p>Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.</p><p><blockquote>由于某些组件的价格上涨，苹果的iPhone 13可能会让消费者花费更多。这对用户来说是个坏消息，但对苹果股票投资者来说可能是个好消息。</blockquote></p><p> IPhone users thinking of upgrading their devices this year (or those looking to switch to the iOS-based product) should expect to reach deeper into their pockets. DigiTimes has&nbsp;reported&nbsp;that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.</p><p><blockquote>考虑今年升级设备的IPhone用户（或者那些希望转向基于iOS的产品的用户）应该期待更深入地了解他们的口袋。DigiTimes报道称，由于零部件通胀，苹果的iPhone 13可能会在下个月以更高的价格推出。</blockquote></p><p> Bad news for consumers could be great news for Apple stock&nbsp;investors. If the price increase is confirmed, it provides evidence that AAPL might be a great inflation play during these times of worry over rising producer and consumer prices.</p><p><blockquote>对消费者来说是个坏消息，对苹果股票投资者来说可能是个好消息。如果价格上涨得到证实，这将提供证据表明，在人们担心生产者和消费者价格上涨的时期，苹果公司可能会成为一个巨大的通胀工具。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d6f4ac9ebc1b90072340731dc5c1e613\" tg-width=\"1240\" tg-height=\"698\" referrerpolicy=\"no-referrer\"><span>Figure 1: Apple's iPhone 12 Pro.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：苹果的iPhone 12 Pro。</span></p></blockquote></p><p> <b>What happened?</b></p><p><blockquote><b>怎么回事？</b></blockquote></p><p> The iPhone is already considered a pricey tech gadget that can cost as much as $1,400 for the fully loaded, higher-end 12 Pro Max model in the US (see figure below). Due to this year’s components shortage, chip maker TSMC may raise its part prices to Apple by 3% to 5%, which could lead to a similar increase in the price of the yet-to-be-announced iPhone 13.</p><p><blockquote>iPhone已经被认为是一款昂贵的科技产品，在美国，满载的高端12 Pro Max机型售价高达1400美元（见下图）。由于今年的零部件短缺，芯片制造商台积电可能会将其对苹果的零部件价格提高3%至5%，这可能会导致尚未公布的iPhone 13价格出现类似上涨。</blockquote></p><p> It is unlikely that one of the largest and most successful consumer product companies in the world would try to raise prices without confidence that doing so does not impact demand for the new iPhone substantially. Apple can probably afford to hike prices because the company understands the value and the appeal of its luxury brand.</p><p><blockquote>世界上最大、最成功的消费品公司之一不太可能试图提高价格，而不相信这样做不会对新iPhone的需求产生实质性影响。苹果或许有能力提高价格，因为该公司了解其奢侈品牌的价值和吸引力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0140b9b68bb9eb5dd7e88aaff384785d\" tg-width=\"707\" tg-height=\"370\" referrerpolicy=\"no-referrer\"><span>Figure 2: iPhone 12 Pro on Apple's store.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：苹果商店上的iPhone 12 Pro。</span></p></blockquote></p><p> <b>A quote from Jim Cramer</b></p><p><blockquote><b>引用吉姆·克莱默的话</b></blockquote></p><p> One of the most concerning headwinds to stocks in the foreseeable future is the possibility of inflation eroding corporate margins and leading to higher interest rates in 2021-2022. But should producer and consumer prices spike, not all stocks will be impacted equally.</p><p><blockquote>在可预见的未来，股市最令人担忧的阻力之一是通胀可能侵蚀企业利润率并导致2021-2022年利率上升。但如果生产者和消费者价格飙升，并非所有股票都会受到同等影响。</blockquote></p><p> Generally speaking, companies with strong pricing power that are able to pass on the higher production costs to consumers will likely outperform. This is a point that&nbsp;Mad Money’s Jim Cramer has made recently. Here is his quote:</p><p><blockquote>一般来说，拥有强大定价权、能够将较高的生产成本转嫁给消费者的公司可能会表现出色。这是Mad Money的吉姆·克莱默(Jim Cramer)最近提出的观点。以下是他的名言：</blockquote></p><p>   “When you try to think of what’s working in this market... I want you to ask yourself, would you be insensitive to a price increase if the company put one through? [What are] the companies that can raise prices without infuriating you? Go buy their stocks.”  <b>The impact to the P&amp;L</b></p><p><blockquote>“当你试图思考这个市场上什么在起作用时……我想让你问问自己，如果公司提价，你会对提价麻木不仁吗？有哪些公司可以提价而不会激怒你？去买他们的股票。”<b>对损益的影响</b></blockquote></p><p> Are higher prices a good or a bad thing for a company’s financial performance? The answer is nuanced and depends on a few factors.</p><p><blockquote>价格上涨对公司的财务业绩是好事还是坏事？答案是微妙的，取决于几个因素。</blockquote></p><p> Holding all else constant, higher prices also mean higher revenues (think of the formula for sales: price times quantity). If the increase in price is decoupled from an increase in product or operating costs, then the hike also helps to boost margins – thus profits as well.</p><p><blockquote>在其他条件不变的情况下，更高的价格也意味着更高的收入（想想销售公式：价格乘以数量）。如果价格上涨与产品或运营成本的增加脱钩，那么涨价也有助于提高利润率，从而提高利润。</blockquote></p><p> However, “holding all else constant” is not how the world really works. A change in price tends to have an impact on a few key variables, most important of which is demand. If higher prices do not impact units sold by much or at all, this is great news for revenues and, most likely, earnings.</p><p><blockquote>然而，“保持其他一切不变”并不是世界真正的运作方式。价格的变化往往会对一些关键变量产生影响，其中最重要的是需求。如果更高的价格不会对售出的单位产生太大影响或根本没有影响，那么这对收入以及最有可能的盈利来说是个好消息。</blockquote></p><p> The other piece to consider is whether the price hike fully or only partially offsets higher costs. Assuming the latter, revenues can still benefit without a corresponding positive effect on margins and profits. The complexity presented by the many moving parts makes it hard to determine with certainty how a more expensive iPhone may impact Apple’s financial statements in the future.</p><p><blockquote>另一个需要考虑的问题是价格上涨是否完全或仅部分抵消了更高的成本。假设是后者，收入仍然可以受益，而不会对利润率和利润产生相应的积极影响。许多移动部件所呈现的复杂性使得很难确定更昂贵的iPhone未来可能会如何影响苹果的财务报表。</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>Apple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</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\">\nApple Stock: How It Could Be A Great Inflation Play<blockquote>苹果股票：它如何成为一场伟大的通胀游戏</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-08-28 08:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.</p><p><blockquote>由于某些组件的价格上涨，苹果的iPhone 13可能会让消费者花费更多。这对用户来说是个坏消息，但对苹果股票投资者来说可能是个好消息。</blockquote></p><p> IPhone users thinking of upgrading their devices this year (or those looking to switch to the iOS-based product) should expect to reach deeper into their pockets. DigiTimes has&nbsp;reported&nbsp;that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.</p><p><blockquote>考虑今年升级设备的IPhone用户（或者那些希望转向基于iOS的产品的用户）应该期待更深入地了解他们的口袋。DigiTimes报道称，由于零部件通胀，苹果的iPhone 13可能会在下个月以更高的价格推出。</blockquote></p><p> Bad news for consumers could be great news for Apple stock&nbsp;investors. If the price increase is confirmed, it provides evidence that AAPL might be a great inflation play during these times of worry over rising producer and consumer prices.</p><p><blockquote>对消费者来说是个坏消息，对苹果股票投资者来说可能是个好消息。如果价格上涨得到证实，这将提供证据表明，在人们担心生产者和消费者价格上涨的时期，苹果公司可能会成为一个巨大的通胀工具。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d6f4ac9ebc1b90072340731dc5c1e613\" tg-width=\"1240\" tg-height=\"698\" referrerpolicy=\"no-referrer\"><span>Figure 1: Apple's iPhone 12 Pro.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：苹果的iPhone 12 Pro。</span></p></blockquote></p><p> <b>What happened?</b></p><p><blockquote><b>怎么回事？</b></blockquote></p><p> The iPhone is already considered a pricey tech gadget that can cost as much as $1,400 for the fully loaded, higher-end 12 Pro Max model in the US (see figure below). Due to this year’s components shortage, chip maker TSMC may raise its part prices to Apple by 3% to 5%, which could lead to a similar increase in the price of the yet-to-be-announced iPhone 13.</p><p><blockquote>iPhone已经被认为是一款昂贵的科技产品，在美国，满载的高端12 Pro Max机型售价高达1400美元（见下图）。由于今年的零部件短缺，芯片制造商台积电可能会将其对苹果的零部件价格提高3%至5%，这可能会导致尚未公布的iPhone 13价格出现类似上涨。</blockquote></p><p> It is unlikely that one of the largest and most successful consumer product companies in the world would try to raise prices without confidence that doing so does not impact demand for the new iPhone substantially. Apple can probably afford to hike prices because the company understands the value and the appeal of its luxury brand.</p><p><blockquote>世界上最大、最成功的消费品公司之一不太可能试图提高价格，而不相信这样做不会对新iPhone的需求产生实质性影响。苹果或许有能力提高价格，因为该公司了解其奢侈品牌的价值和吸引力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0140b9b68bb9eb5dd7e88aaff384785d\" tg-width=\"707\" tg-height=\"370\" referrerpolicy=\"no-referrer\"><span>Figure 2: iPhone 12 Pro on Apple's store.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：苹果商店上的iPhone 12 Pro。</span></p></blockquote></p><p> <b>A quote from Jim Cramer</b></p><p><blockquote><b>引用吉姆·克莱默的话</b></blockquote></p><p> One of the most concerning headwinds to stocks in the foreseeable future is the possibility of inflation eroding corporate margins and leading to higher interest rates in 2021-2022. But should producer and consumer prices spike, not all stocks will be impacted equally.</p><p><blockquote>在可预见的未来，股市最令人担忧的阻力之一是通胀可能侵蚀企业利润率并导致2021-2022年利率上升。但如果生产者和消费者价格飙升，并非所有股票都会受到同等影响。</blockquote></p><p> Generally speaking, companies with strong pricing power that are able to pass on the higher production costs to consumers will likely outperform. This is a point that&nbsp;Mad Money’s Jim Cramer has made recently. Here is his quote:</p><p><blockquote>一般来说，拥有强大定价权、能够将较高的生产成本转嫁给消费者的公司可能会表现出色。这是Mad Money的吉姆·克莱默(Jim Cramer)最近提出的观点。以下是他的名言：</blockquote></p><p>   “When you try to think of what’s working in this market... I want you to ask yourself, would you be insensitive to a price increase if the company put one through? [What are] the companies that can raise prices without infuriating you? Go buy their stocks.”  <b>The impact to the P&amp;L</b></p><p><blockquote>“当你试图思考这个市场上什么在起作用时……我想让你问问自己，如果公司提价，你会对提价麻木不仁吗？有哪些公司可以提价而不会激怒你？去买他们的股票。”<b>对损益的影响</b></blockquote></p><p> Are higher prices a good or a bad thing for a company’s financial performance? The answer is nuanced and depends on a few factors.</p><p><blockquote>价格上涨对公司的财务业绩是好事还是坏事？答案是微妙的，取决于几个因素。</blockquote></p><p> Holding all else constant, higher prices also mean higher revenues (think of the formula for sales: price times quantity). If the increase in price is decoupled from an increase in product or operating costs, then the hike also helps to boost margins – thus profits as well.</p><p><blockquote>在其他条件不变的情况下，更高的价格也意味着更高的收入（想想销售公式：价格乘以数量）。如果价格上涨与产品或运营成本的增加脱钩，那么涨价也有助于提高利润率，从而提高利润。</blockquote></p><p> However, “holding all else constant” is not how the world really works. A change in price tends to have an impact on a few key variables, most important of which is demand. If higher prices do not impact units sold by much or at all, this is great news for revenues and, most likely, earnings.</p><p><blockquote>然而，“保持其他一切不变”并不是世界真正的运作方式。价格的变化往往会对一些关键变量产生影响，其中最重要的是需求。如果更高的价格不会对售出的单位产生太大影响或根本没有影响，那么这对收入以及最有可能的盈利来说是个好消息。</blockquote></p><p> The other piece to consider is whether the price hike fully or only partially offsets higher costs. Assuming the latter, revenues can still benefit without a corresponding positive effect on margins and profits. The complexity presented by the many moving parts makes it hard to determine with certainty how a more expensive iPhone may impact Apple’s financial statements in the future.</p><p><blockquote>另一个需要考虑的问题是价格上涨是否完全或仅部分抵消了更高的成本。假设是后者，收入仍然可以受益，而不会对利润率和利润产生相应的积极影响。许多移动部件所呈现的复杂性使得很难确定更昂贵的iPhone未来可能会如何影响苹果的财务报表。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/iphone/apple-stock-how-it-could-be-a-great-inflation-play\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/iphone/apple-stock-how-it-could-be-a-great-inflation-play","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162964424","content_text":"Apple’s iPhone 13 could cost consumers more due to an increase in the price of certain components. This is bad news for users, but probably good news for Apple stock investors.\nIPhone users thinking of upgrading their devices this year (or those looking to switch to the iOS-based product) should expect to reach deeper into their pockets. DigiTimes has reported that Apple’s iPhone 13 could be launched next month at a higher price due to parts inflation.\nBad news for consumers could be great news for Apple stock investors. If the price increase is confirmed, it provides evidence that AAPL might be a great inflation play during these times of worry over rising producer and consumer prices.\nFigure 1: Apple's iPhone 12 Pro.\nWhat happened?\nThe iPhone is already considered a pricey tech gadget that can cost as much as $1,400 for the fully loaded, higher-end 12 Pro Max model in the US (see figure below). Due to this year’s components shortage, chip maker TSMC may raise its part prices to Apple by 3% to 5%, which could lead to a similar increase in the price of the yet-to-be-announced iPhone 13.\nIt is unlikely that one of the largest and most successful consumer product companies in the world would try to raise prices without confidence that doing so does not impact demand for the new iPhone substantially. Apple can probably afford to hike prices because the company understands the value and the appeal of its luxury brand.\nFigure 2: iPhone 12 Pro on Apple's store.\nA quote from Jim Cramer\nOne of the most concerning headwinds to stocks in the foreseeable future is the possibility of inflation eroding corporate margins and leading to higher interest rates in 2021-2022. But should producer and consumer prices spike, not all stocks will be impacted equally.\nGenerally speaking, companies with strong pricing power that are able to pass on the higher production costs to consumers will likely outperform. This is a point that Mad Money’s Jim Cramer has made recently. Here is his quote:\n\n “When you try to think of what’s working in this market... I want you to ask yourself, would you be insensitive to a price increase if the company put one through? [What are] the companies that can raise prices without infuriating you? Go buy their stocks.”\n\nThe impact to the P&L\nAre higher prices a good or a bad thing for a company’s financial performance? The answer is nuanced and depends on a few factors.\nHolding all else constant, higher prices also mean higher revenues (think of the formula for sales: price times quantity). If the increase in price is decoupled from an increase in product or operating costs, then the hike also helps to boost margins – thus profits as well.\nHowever, “holding all else constant” is not how the world really works. A change in price tends to have an impact on a few key variables, most important of which is demand. If higher prices do not impact units sold by much or at all, this is great news for revenues and, most likely, earnings.\nThe other piece to consider is whether the price hike fully or only partially offsets higher costs. Assuming the latter, revenues can still benefit without a corresponding positive effect on margins and profits. The complexity presented by the many moving parts makes it hard to determine with certainty how a more expensive iPhone may impact Apple’s financial statements in the future.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":431,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819587322,"gmtCreate":1630077646366,"gmtModify":1704955689764,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Happy seeing my Mara up","listText":"Happy seeing my Mara up","text":"Happy seeing my Mara up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/819587322","repostId":"1199074003","repostType":4,"repost":{"id":"1199074003","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":1630077382,"share":"https://www.laohu8.com/m/news/1199074003?lang=zh_CN&edition=full","pubTime":"2021-08-27 23:16","market":"us","language":"en","title":"Crypto stocks surged in morning trading<blockquote>加密货币股票早盘飙升</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199074003","media":"Tiger Newspress","summary":"Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,","content":"<p>Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,Coinbase&nbsp;and&nbsp;Paypal&nbsp;climbed between 1% and 13%.</p><p><blockquote>加密货币股票在早盘交易中飙升。Bit Digital、Marathon Digital、Riot Blockchain、SoS Ltd、Square、Coinbase和Paypal股价上涨1%至13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/67735af69f95f6a88ee67ae3737e58c0\" tg-width=\"364\" tg-height=\"715\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto stocks surged in morning trading<blockquote>加密货币股票早盘飙升</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\">\nCrypto stocks surged in morning trading<blockquote>加密货币股票早盘飙升</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\">2021-08-27 23:16</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,Coinbase&nbsp;and&nbsp;Paypal&nbsp;climbed between 1% and 13%.</p><p><blockquote>加密货币股票在早盘交易中飙升。Bit Digital、Marathon Digital、Riot Blockchain、SoS Ltd、Square、Coinbase和Paypal股价上涨1%至13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/67735af69f95f6a88ee67ae3737e58c0\" tg-width=\"364\" tg-height=\"715\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EBON":"亿邦国际","SOS":"SOS Limited","COIN":"Coinbase Global, Inc.","RIOT":"Riot Platforms","CAN":"嘉楠科技","MARA":"MARA Holdings","BTBT":"Bit Digital, Inc.","NCTY":"第九城市"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199074003","content_text":"Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,Coinbase and Paypal climbed between 1% and 13%.","news_type":1,"symbols_score_info":{"NCTY":0.9,"BTBT":0.9,"EBON":0.9,"RIOT":0.9,"SOS":0.9,"COIN":0.9,"SQ":0.9,"CAN":0.9,"MARA":0.9,"BTCM":0.9}},"isVote":1,"tweetType":1,"viewCount":535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837187659,"gmtCreate":1629864952871,"gmtModify":1631891412476,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Need more green days like this","listText":"Need more green days like this","text":"Need more green days like this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/837187659","repostId":"2162087564","repostType":4,"isVote":1,"tweetType":1,"viewCount":612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834906651,"gmtCreate":1629765024273,"gmtModify":1631891412472,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576020103442242","authorIdStr":"3576020103442242"},"themes":[],"htmlText":"Salesforce is good","listText":"Salesforce is good","text":"Salesforce is good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/834906651","repostId":"2161770255","repostType":4,"isVote":1,"tweetType":1,"viewCount":480,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":366677738,"gmtCreate":1614482144324,"gmtModify":1703477748964,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>will next week be great week for NIO?","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>will next week be great week for NIO?","text":"$NIO Inc.(NIO)$will next week be great week for NIO?","images":[{"img":"https://static.tigerbbs.com/493ffda30767325a1baed617253f0885","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/366677738","isVote":1,"tweetType":1,"viewCount":1312,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":373462812,"gmtCreate":1618878757836,"gmtModify":1631885489754,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Time to buy tesla","listText":"Time to buy tesla","text":"Time to buy tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/373462812","repostId":"2128689062","repostType":4,"isVote":1,"tweetType":1,"viewCount":471,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136311934,"gmtCreate":1621994075028,"gmtModify":1634184882613,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Market is so sensitive now","listText":"Market is so sensitive now","text":"Market is so sensitive now","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/136311934","repostId":"2138196079","repostType":4,"isVote":1,"tweetType":1,"viewCount":576,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142325331,"gmtCreate":1626133634523,"gmtModify":1633929884490,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Tesla will be the stock of the year again","listText":"Tesla will be the stock of the year again","text":"Tesla will be the stock of the year again","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142325331","repostId":"1175242446","repostType":4,"repost":{"id":"1175242446","kind":"news","pubTimestamp":1626133452,"share":"https://www.laohu8.com/m/news/1175242446?lang=zh_CN&edition=full","pubTime":"2021-07-13 07:44","market":"us","language":"en","title":"Elon Musk Defends SolarCity Deal, Says of Being Tesla Boss: ‘I Rather Hate It’<blockquote>Elon Musk为SolarCity交易辩护，谈到自己是特斯拉老板：“我很讨厌它”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175242446","media":"The Wall Street Journal","summary":"Plaintiffs allege billionaire entrepreneur led Tesla to overpay for the home-solar company in 2016.\n","content":"<p>  Plaintiffs allege billionaire entrepreneur led Tesla to overpay for the home-solar company in 2016.  WILMINGTON, Del.—TeslaInc.TSLA4.38%Chief ExecutiveElon Muskwas in court Monday to defend the company’s purchase of SolarCity Corp., telling a judge that he didn’t act improperly during the negotiating process and doesn’t even enjoy running the electric-vehicle maker.</p><p><blockquote>原告指控亿万富翁企业家导致特斯拉在2016年为这家家用太阳能公司支付了过高的价格。特拉华州威尔明顿——特斯拉公司首席执行官埃隆·马斯克周一出庭为该公司收购SolarCity Corp.辩护，他告诉法官，他在谈判过程中没有不当行为，甚至不喜欢经营电动汽车制造商。</blockquote></p><p> The case dates to 2016, when Mr. Musk was chairman of both companies, both of them unprofitable at the time. His solution: Combine them ina roughly $2.1 billion tie-upto establish a single clean-energy business. Plaintiffs, which include pension funds that owned Tesla stock, have characterized the deal as a scheme to benefit himself and bail out a home-solar company on the verge of insolvency.</p><p><blockquote>该案可以追溯到2016年，当时马斯克担任两家公司的董事长，当时这两家公司都没有盈利。他的解决方案是：将它们合并成大约21亿美元的合资企业，建立一个单一的清洁能源业务。包括持有特斯拉股票的养老基金在内的原告将这笔交易描述为一项让自己受益并救助一家濒临破产的家用太阳能公司的计划。</blockquote></p><p> Mr. Musk, the opening and only witness in the first day in a nonjury trial in the Delaware Chancery Court, is scheduled to return to the stand Tuesday. He defended his actions in roughly five hours of testimony, saying the SolarCity purchase was crucial tothe sustainable-energy strategyhe had envisioned for Tesla for a decade.</p><p><blockquote>马斯克是特拉华州衡平法院无陪审团审判第一天的开场证人，也是唯一的证人，定于周二返回证人席。他在大约五个小时的证词中为自己的行为进行了辩护，称收购SolarCity对于他十年来为特斯拉设想的可持续能源战略至关重要。</blockquote></p><p> “I don’t think SolarCity was financially troubled,” Mr. Musk said. “In order to have a compelling product, you really needed to have a tightly integrated solar and battery solution. And we could not create a well integrated product if SolarCity was a separate company.”</p><p><blockquote>“我认为SolarCity没有陷入财务困境，”马斯克先生说。“为了拥有引人注目的产品，你确实需要有一个紧密集成的太阳能和电池解决方案。如果SolarCity是一家独立的公司，我们就无法创建一个良好集成的产品。”</blockquote></p><p> A primary question in the case is whether Mr. Musk, who owned roughly 22% of Tesla at the time, controlled the transaction. Proving the claim is a challenge because Mr. Musk was a minority shareholder of Tesla and the company’s shareholders approved the acquisition. Lawyers for Mr. Musk have said that SolarCity was worth more than Tesla paid for it and the electric-vehicle maker’s board members, who included Mr. Musk’s brother, Kimbal Musk, acted independently.</p><p><blockquote>该案的一个主要问题是马斯克是否控制了这笔交易，马斯克当时拥有特斯拉约22%的股份。证明这一说法是一个挑战，因为马斯克先生是特斯拉的少数股东，而该公司的股东批准了此次收购。马斯克的律师表示，SolarCity的价值高于特斯拉支付的价格，这家电动汽车制造商的董事会成员（包括马斯克的兄弟金巴尔·马斯克）是独立行事的。</blockquote></p><p> The billionaire CEO, who has a record of sometimes blunt and surprising statements, said Monday that he didn’t enjoy being the boss of Tesla. “I rather hate it and I would much prefer to spend my time on design and engineering, which is what intrinsically I like doing,” he said.</p><p><blockquote>这位亿万富翁首席执行官有时会发表直言不讳和令人惊讶的言论，他周一表示，他不喜欢担任特斯拉的老板。“我很讨厌它，我更愿意把时间花在设计和工程上，这是我本质上喜欢做的事情，”他说。</blockquote></p><p> Mr. Musk made the comment after opposing counsel tried to show how his “force of will” and faith in his view of Tesla’s future illustrated his ability to control the SolarCity transaction.</p><p><blockquote>在对方律师试图展示马斯克的“意志力”和对特斯拉未来看法的信心如何表明他有能力控制SolarCity交易后，马斯克发表了上述评论。</blockquote></p><p> Other issues before the judge include whether Tesla board members, some of whom also were SolarCity shareholders personally or through investment funds they managed, were conflicted and whether vital information about the deal was withheld from shareholders. Mr. Musk testified that an independent director handled the negotiation and that Tesla’s directors even overruled his proposal that Tesla provide temporary financing to SolarCity before the deal went through.</p><p><blockquote>法官面前的其他问题包括特斯拉董事会成员（其中一些人也是SolarCity股东）是否存在冲突，以及有关该交易的重要信息是否向股东隐瞒。马斯克作证说，一名独立董事负责谈判，特斯拉的董事甚至否决了他关于特斯拉在交易完成前向SolarCity提供临时融资的提议。</blockquote></p><p> Mr. Musk spoke in a calm and sometimes quiet tone as he answered his lawyer’s questions. He became more energetic when he fielded questions from Randall Baron, a lawyer for the plaintiffs. Mr. Baron pressed Mr. Musk on whether he dominated Tesla, handpicked its board members and made decisions without directors’ involvement.</p><p><blockquote>马斯克在回答律师的问题时语气平静，有时甚至很安静。当他回答原告律师兰德尔·巴伦的问题时，他变得更加精力充沛。巴伦向马斯克施压，询问马斯克是否控制了特斯拉，是否亲自挑选了董事会成员，是否在没有董事参与的情况下做出了决定。</blockquote></p><p> Mr. Musk has already displayed flashes of hissometimes combative naturein the case, making for a confrontational witness in a 2019 deposition, calling Mr. Baron “reprehensible” for “attacking sustainable energy.”</p><p><blockquote>马斯克在此案中已经表现出了他有时好斗的本性，在2019年的证词中成为了一名对抗性证人，称巴伦因“攻击可持续能源”而“应受谴责”。</blockquote></p><p> To explain the behavior, Mr. Musk told the court he didn’t respect Mr. Baron because the lawyer had once worked at a law firm whose partners becameengulfed in an ethics scandaland went to prison over their misdeeds. “I think you are a bad human being,” Mr. Musk said to Mr. Baron.</p><p><blockquote>为了解释这种行为，马斯克告诉法庭，他不尊重巴伦，因为这位律师曾在一家律师事务所工作，该律师事务所的合伙人陷入道德丑闻，并因不当行为入狱。“我认为你是一个坏人，”马斯克先生对巴伦先生说。</blockquote></p><p> Mr. Baron asked Mr. Musk why SolarCity’s performance varied significantly from the projections that Tesla gave to shareholders in 2016. Mr. Musk blamed the decline in solar-panel installation and market share to Tesla’s pressing need to focus on developing its Model 3 car in 2017 and 2018. Tesla at the time wasstruggling to bring the car to market.</p><p><blockquote>Baron先生问Musk先生，为什么SolarCity的业绩与特斯拉2016年给股东的预测有很大差异。马斯克将太阳能电池板安装量和市场份额的下降归咎于特斯拉迫切需要在2017年和2018年专注于开发Model 3汽车。特斯拉当时正在努力将这款车推向市场。</blockquote></p><p> “Those were the three hardest years of my entire career,” he said, later calling the period excruciating. “The company was in dire straits. Many of the times I thought we were out of the woods, we were not.”</p><p><blockquote>“那是我整个职业生涯中最艰难的三年，”他说，后来称这段时期非常痛苦。“公司陷入了困境。很多时候我以为我们已经脱离了困境，但事实并非如此。”</blockquote></p><p> More recently, Mr. Musk said, the coronavirus pandemic hurt Tesla’s ability to get permits for residential solar installations.</p><p><blockquote>马斯克表示，最近，冠状病毒大流行损害了特斯拉获得住宅太阳能装置许可的能力。</blockquote></p><p> If Mr. Musk loses, he could be asked to make Tesla whole. That payment could equal the value of the SolarCity transaction if the presiding judge finds that the solar firm wasn’t worth anything when Tesla agreed to buy it.</p><p><blockquote>如果马斯克输了，他可能会被要求让特斯拉变得完整。如果首席法官发现特斯拉同意收购SolarCity时这家太阳能公司一文不值，这笔付款可能相当于SolarCity交易的价值。</blockquote></p><p> The trial has been delayed for more than a year because of the pandemic and is expected to last two weeks.</p><p><blockquote>由于疫情，审判已经推迟了一年多，预计将持续两周。</blockquote></p><p> Other Tesla board members at the time of the tie-up agreed to settle last year for a combined $60 million, paid by insurance. The board members, some of whom had interests in both Tesla and SolarCity, denied wrongdoing.</p><p><blockquote>去年，特斯拉董事会的其他成员同意以总计6000万美元的价格和解，由保险公司支付。董事会成员否认有不当行为，其中一些人在特斯拉和SolarCity都有利益。</blockquote></p><p></p><p> Mr. Musk brought the proposed deal to Tesla’s board in early 2016, court records show. The plaintiffs describe SolarCity as having been in severe financial distress leading up to the deal, at risk of tripping a debt covenant and without other fundraising options. Shareholders weren’t fully informed of the company’s condition, they say.</p><p><blockquote>法庭记录显示，马斯克于2016年初向特斯拉董事会提交了拟议的交易。原告称，SolarCity在交易前陷入了严重的财务困境，面临着违反债务契约的风险，并且没有其他融资选择。他们表示，股东并没有完全了解公司的状况。</blockquote></p><p> Mr. Baron pressed that point Monday, asking Mr. Musk about internal emails and meetings that discussed efforts to save money by delaying payments to vendors and other moves. The attorney also asked whether he was aware thatLazardLtd.bankers had tried to raise money for SolarCity in 2016 and found most of the private investors they surveyed to be unreceptive.</p><p><blockquote>巴伦周一强调了这一点，向马斯克询问了内部电子邮件和会议的情况，这些电子邮件和会议讨论了通过推迟向供应商付款和其他举措来节省资金的努力。该律师还询问他是否知道LazardLtd.Bankers曾在2016年试图为SolarCity筹集资金，但发现他们调查的大多数私人投资者都不接受。</blockquote></p><p> Mr. Musk said Tesla also occasionally took such steps to conserve cash. He said SolarCity could have raised money from private investors if it had more time to do so, and ultimately could have sold stock to public investors.</p><p><blockquote>马斯克表示，特斯拉偶尔也会采取此类措施来节省现金。他表示，如果SolarCity有更多时间，它本可以从私人投资者那里筹集资金，并最终向公众投资者出售股票。</blockquote></p><p> If chancery court Vice Chancellor Joseph Slights III, the presiding judge, finds Mr. Musk didn’t control the deal, the case is likely over for the plaintiffs, said Lawrence Hamermesh, executive director of the Institute for Law and Economics at the University of Pennsylvania’s Carey Law School.</p><p><blockquote>该大学法律与经济研究所执行主任劳伦斯·哈默梅什(Lawrence Hamermesh)表示，如果衡平法院副院长、主审法官约瑟夫·斯莱特三世(Joseph Slights III)发现马斯克没有控制这笔交易，那么原告的案件可能就结束了。宾夕法尼亚大学凯里法学院。</blockquote></p><p> Case law in Delaware generally defers to the business judgment of independent and properly motivated directors. On the other hand, if the evidence points to control, the court would assess whether the deal process and price were fair and, if not, whether Mr. Musk should be ordered to pay money back to Tesla, Mr. Hamermesh said.</p><p><blockquote>特拉华州的判例法通常尊重独立且有适当动机的董事的商业判断。哈默梅什表示，另一方面，如果证据指向控制权，法院将评估交易过程和价格是否公平，如果不公平，是否应该命令马斯克向特斯拉偿还资金。</blockquote></p><p> For Mr. Musk, who now ranks among the world’s wealthiest people, the optics of a loss likely would be more meaningful than any court-ordered financial judgment, said Seth Goldstein, an analyst for Morningstar Research Services LLC.</p><p><blockquote>晨星研究服务有限责任公司(Morningstar Research Services LLC)分析师塞思·戈尔茨坦(Seth Goldstein)表示，对于目前跻身世界上最富有的人之一的马斯克来说，损失的前景可能比法院下令的任何财务判决都更有意义。</blockquote></p><p> “You could see the board become extra diligent with regard to acquisitions that aren’t in Tesla’s current, existing industries,” Mr. Goldstein said.</p><p><blockquote>“你可能会看到董事会对不属于特斯拉当前现有行业的收购变得格外勤奋，”戈尔茨坦先生说。</blockquote></p><p> Tesla investors also have enjoyed a change in fortunes since the takeover first surfaced. The vehicle makerposted its first full-year of profit in 2020. The stock, which traded at around $44when Tesla proposed buying SolarCity, closed Monday at around $686, up 4.38% on the day.</p><p><blockquote>自收购首次浮出水面以来，特斯拉投资者的命运也发生了变化。该汽车制造商在2020年首次实现全年盈利。当特斯拉提议收购SolarCity时，该股的交易价格约为44美元，周一收于686美元左右，当日上涨4.38%。</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>Elon Musk Defends SolarCity Deal, Says of Being Tesla Boss: ‘I Rather Hate It’<blockquote>Elon Musk为SolarCity交易辩护，谈到自己是特斯拉老板：“我很讨厌它”</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\">\nElon Musk Defends SolarCity Deal, Says of Being Tesla Boss: ‘I Rather Hate It’<blockquote>Elon Musk为SolarCity交易辩护，谈到自己是特斯拉老板：“我很讨厌它”</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\">2021-07-13 07:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Plaintiffs allege billionaire entrepreneur led Tesla to overpay for the home-solar company in 2016.  WILMINGTON, Del.—TeslaInc.TSLA4.38%Chief ExecutiveElon Muskwas in court Monday to defend the company’s purchase of SolarCity Corp., telling a judge that he didn’t act improperly during the negotiating process and doesn’t even enjoy running the electric-vehicle maker.</p><p><blockquote>原告指控亿万富翁企业家导致特斯拉在2016年为这家家用太阳能公司支付了过高的价格。特拉华州威尔明顿——特斯拉公司首席执行官埃隆·马斯克周一出庭为该公司收购SolarCity Corp.辩护，他告诉法官，他在谈判过程中没有不当行为，甚至不喜欢经营电动汽车制造商。</blockquote></p><p> The case dates to 2016, when Mr. Musk was chairman of both companies, both of them unprofitable at the time. His solution: Combine them ina roughly $2.1 billion tie-upto establish a single clean-energy business. Plaintiffs, which include pension funds that owned Tesla stock, have characterized the deal as a scheme to benefit himself and bail out a home-solar company on the verge of insolvency.</p><p><blockquote>该案可以追溯到2016年，当时马斯克担任两家公司的董事长，当时这两家公司都没有盈利。他的解决方案是：将它们合并成大约21亿美元的合资企业，建立一个单一的清洁能源业务。包括持有特斯拉股票的养老基金在内的原告将这笔交易描述为一项让自己受益并救助一家濒临破产的家用太阳能公司的计划。</blockquote></p><p> Mr. Musk, the opening and only witness in the first day in a nonjury trial in the Delaware Chancery Court, is scheduled to return to the stand Tuesday. He defended his actions in roughly five hours of testimony, saying the SolarCity purchase was crucial tothe sustainable-energy strategyhe had envisioned for Tesla for a decade.</p><p><blockquote>马斯克是特拉华州衡平法院无陪审团审判第一天的开场证人，也是唯一的证人，定于周二返回证人席。他在大约五个小时的证词中为自己的行为进行了辩护，称收购SolarCity对于他十年来为特斯拉设想的可持续能源战略至关重要。</blockquote></p><p> “I don’t think SolarCity was financially troubled,” Mr. Musk said. “In order to have a compelling product, you really needed to have a tightly integrated solar and battery solution. And we could not create a well integrated product if SolarCity was a separate company.”</p><p><blockquote>“我认为SolarCity没有陷入财务困境，”马斯克先生说。“为了拥有引人注目的产品，你确实需要有一个紧密集成的太阳能和电池解决方案。如果SolarCity是一家独立的公司，我们就无法创建一个良好集成的产品。”</blockquote></p><p> A primary question in the case is whether Mr. Musk, who owned roughly 22% of Tesla at the time, controlled the transaction. Proving the claim is a challenge because Mr. Musk was a minority shareholder of Tesla and the company’s shareholders approved the acquisition. Lawyers for Mr. Musk have said that SolarCity was worth more than Tesla paid for it and the electric-vehicle maker’s board members, who included Mr. Musk’s brother, Kimbal Musk, acted independently.</p><p><blockquote>该案的一个主要问题是马斯克是否控制了这笔交易，马斯克当时拥有特斯拉约22%的股份。证明这一说法是一个挑战，因为马斯克先生是特斯拉的少数股东，而该公司的股东批准了此次收购。马斯克的律师表示，SolarCity的价值高于特斯拉支付的价格，这家电动汽车制造商的董事会成员（包括马斯克的兄弟金巴尔·马斯克）是独立行事的。</blockquote></p><p> The billionaire CEO, who has a record of sometimes blunt and surprising statements, said Monday that he didn’t enjoy being the boss of Tesla. “I rather hate it and I would much prefer to spend my time on design and engineering, which is what intrinsically I like doing,” he said.</p><p><blockquote>这位亿万富翁首席执行官有时会发表直言不讳和令人惊讶的言论，他周一表示，他不喜欢担任特斯拉的老板。“我很讨厌它，我更愿意把时间花在设计和工程上，这是我本质上喜欢做的事情，”他说。</blockquote></p><p> Mr. Musk made the comment after opposing counsel tried to show how his “force of will” and faith in his view of Tesla’s future illustrated his ability to control the SolarCity transaction.</p><p><blockquote>在对方律师试图展示马斯克的“意志力”和对特斯拉未来看法的信心如何表明他有能力控制SolarCity交易后，马斯克发表了上述评论。</blockquote></p><p> Other issues before the judge include whether Tesla board members, some of whom also were SolarCity shareholders personally or through investment funds they managed, were conflicted and whether vital information about the deal was withheld from shareholders. Mr. Musk testified that an independent director handled the negotiation and that Tesla’s directors even overruled his proposal that Tesla provide temporary financing to SolarCity before the deal went through.</p><p><blockquote>法官面前的其他问题包括特斯拉董事会成员（其中一些人也是SolarCity股东）是否存在冲突，以及有关该交易的重要信息是否向股东隐瞒。马斯克作证说，一名独立董事负责谈判，特斯拉的董事甚至否决了他关于特斯拉在交易完成前向SolarCity提供临时融资的提议。</blockquote></p><p> Mr. Musk spoke in a calm and sometimes quiet tone as he answered his lawyer’s questions. He became more energetic when he fielded questions from Randall Baron, a lawyer for the plaintiffs. Mr. Baron pressed Mr. Musk on whether he dominated Tesla, handpicked its board members and made decisions without directors’ involvement.</p><p><blockquote>马斯克在回答律师的问题时语气平静，有时甚至很安静。当他回答原告律师兰德尔·巴伦的问题时，他变得更加精力充沛。巴伦向马斯克施压，询问马斯克是否控制了特斯拉，是否亲自挑选了董事会成员，是否在没有董事参与的情况下做出了决定。</blockquote></p><p> Mr. Musk has already displayed flashes of hissometimes combative naturein the case, making for a confrontational witness in a 2019 deposition, calling Mr. Baron “reprehensible” for “attacking sustainable energy.”</p><p><blockquote>马斯克在此案中已经表现出了他有时好斗的本性，在2019年的证词中成为了一名对抗性证人，称巴伦因“攻击可持续能源”而“应受谴责”。</blockquote></p><p> To explain the behavior, Mr. Musk told the court he didn’t respect Mr. Baron because the lawyer had once worked at a law firm whose partners becameengulfed in an ethics scandaland went to prison over their misdeeds. “I think you are a bad human being,” Mr. Musk said to Mr. Baron.</p><p><blockquote>为了解释这种行为，马斯克告诉法庭，他不尊重巴伦，因为这位律师曾在一家律师事务所工作，该律师事务所的合伙人陷入道德丑闻，并因不当行为入狱。“我认为你是一个坏人，”马斯克先生对巴伦先生说。</blockquote></p><p> Mr. Baron asked Mr. Musk why SolarCity’s performance varied significantly from the projections that Tesla gave to shareholders in 2016. Mr. Musk blamed the decline in solar-panel installation and market share to Tesla’s pressing need to focus on developing its Model 3 car in 2017 and 2018. Tesla at the time wasstruggling to bring the car to market.</p><p><blockquote>Baron先生问Musk先生，为什么SolarCity的业绩与特斯拉2016年给股东的预测有很大差异。马斯克将太阳能电池板安装量和市场份额的下降归咎于特斯拉迫切需要在2017年和2018年专注于开发Model 3汽车。特斯拉当时正在努力将这款车推向市场。</blockquote></p><p> “Those were the three hardest years of my entire career,” he said, later calling the period excruciating. “The company was in dire straits. Many of the times I thought we were out of the woods, we were not.”</p><p><blockquote>“那是我整个职业生涯中最艰难的三年，”他说，后来称这段时期非常痛苦。“公司陷入了困境。很多时候我以为我们已经脱离了困境，但事实并非如此。”</blockquote></p><p> More recently, Mr. Musk said, the coronavirus pandemic hurt Tesla’s ability to get permits for residential solar installations.</p><p><blockquote>马斯克表示，最近，冠状病毒大流行损害了特斯拉获得住宅太阳能装置许可的能力。</blockquote></p><p> If Mr. Musk loses, he could be asked to make Tesla whole. That payment could equal the value of the SolarCity transaction if the presiding judge finds that the solar firm wasn’t worth anything when Tesla agreed to buy it.</p><p><blockquote>如果马斯克输了，他可能会被要求让特斯拉变得完整。如果首席法官发现特斯拉同意收购SolarCity时这家太阳能公司一文不值，这笔付款可能相当于SolarCity交易的价值。</blockquote></p><p> The trial has been delayed for more than a year because of the pandemic and is expected to last two weeks.</p><p><blockquote>由于疫情，审判已经推迟了一年多，预计将持续两周。</blockquote></p><p> Other Tesla board members at the time of the tie-up agreed to settle last year for a combined $60 million, paid by insurance. The board members, some of whom had interests in both Tesla and SolarCity, denied wrongdoing.</p><p><blockquote>去年，特斯拉董事会的其他成员同意以总计6000万美元的价格和解，由保险公司支付。董事会成员否认有不当行为，其中一些人在特斯拉和SolarCity都有利益。</blockquote></p><p></p><p> Mr. Musk brought the proposed deal to Tesla’s board in early 2016, court records show. The plaintiffs describe SolarCity as having been in severe financial distress leading up to the deal, at risk of tripping a debt covenant and without other fundraising options. Shareholders weren’t fully informed of the company’s condition, they say.</p><p><blockquote>法庭记录显示，马斯克于2016年初向特斯拉董事会提交了拟议的交易。原告称，SolarCity在交易前陷入了严重的财务困境，面临着违反债务契约的风险，并且没有其他融资选择。他们表示，股东并没有完全了解公司的状况。</blockquote></p><p> Mr. Baron pressed that point Monday, asking Mr. Musk about internal emails and meetings that discussed efforts to save money by delaying payments to vendors and other moves. The attorney also asked whether he was aware thatLazardLtd.bankers had tried to raise money for SolarCity in 2016 and found most of the private investors they surveyed to be unreceptive.</p><p><blockquote>巴伦周一强调了这一点，向马斯克询问了内部电子邮件和会议的情况，这些电子邮件和会议讨论了通过推迟向供应商付款和其他举措来节省资金的努力。该律师还询问他是否知道LazardLtd.Bankers曾在2016年试图为SolarCity筹集资金，但发现他们调查的大多数私人投资者都不接受。</blockquote></p><p> Mr. Musk said Tesla also occasionally took such steps to conserve cash. He said SolarCity could have raised money from private investors if it had more time to do so, and ultimately could have sold stock to public investors.</p><p><blockquote>马斯克表示，特斯拉偶尔也会采取此类措施来节省现金。他表示，如果SolarCity有更多时间，它本可以从私人投资者那里筹集资金，并最终向公众投资者出售股票。</blockquote></p><p> If chancery court Vice Chancellor Joseph Slights III, the presiding judge, finds Mr. Musk didn’t control the deal, the case is likely over for the plaintiffs, said Lawrence Hamermesh, executive director of the Institute for Law and Economics at the University of Pennsylvania’s Carey Law School.</p><p><blockquote>该大学法律与经济研究所执行主任劳伦斯·哈默梅什(Lawrence Hamermesh)表示，如果衡平法院副院长、主审法官约瑟夫·斯莱特三世(Joseph Slights III)发现马斯克没有控制这笔交易，那么原告的案件可能就结束了。宾夕法尼亚大学凯里法学院。</blockquote></p><p> Case law in Delaware generally defers to the business judgment of independent and properly motivated directors. On the other hand, if the evidence points to control, the court would assess whether the deal process and price were fair and, if not, whether Mr. Musk should be ordered to pay money back to Tesla, Mr. Hamermesh said.</p><p><blockquote>特拉华州的判例法通常尊重独立且有适当动机的董事的商业判断。哈默梅什表示，另一方面，如果证据指向控制权，法院将评估交易过程和价格是否公平，如果不公平，是否应该命令马斯克向特斯拉偿还资金。</blockquote></p><p> For Mr. Musk, who now ranks among the world’s wealthiest people, the optics of a loss likely would be more meaningful than any court-ordered financial judgment, said Seth Goldstein, an analyst for Morningstar Research Services LLC.</p><p><blockquote>晨星研究服务有限责任公司(Morningstar Research Services LLC)分析师塞思·戈尔茨坦(Seth Goldstein)表示，对于目前跻身世界上最富有的人之一的马斯克来说，损失的前景可能比法院下令的任何财务判决都更有意义。</blockquote></p><p> “You could see the board become extra diligent with regard to acquisitions that aren’t in Tesla’s current, existing industries,” Mr. Goldstein said.</p><p><blockquote>“你可能会看到董事会对不属于特斯拉当前现有行业的收购变得格外勤奋，”戈尔茨坦先生说。</blockquote></p><p> Tesla investors also have enjoyed a change in fortunes since the takeover first surfaced. The vehicle makerposted its first full-year of profit in 2020. The stock, which traded at around $44when Tesla proposed buying SolarCity, closed Monday at around $686, up 4.38% on the day.</p><p><blockquote>自收购首次浮出水面以来，特斯拉投资者的命运也发生了变化。该汽车制造商在2020年首次实现全年盈利。当特斯拉提议收购SolarCity时，该股的交易价格约为44美元，周一收于686美元左右，当日上涨4.38%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/elon-musk-takes-stand-in-court-to-defend-purchase-of-solarcity-11626098958?mod=hp_lead_pos3\">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":{"TSLA":"特斯拉"},"source_url":"https://www.wsj.com/articles/elon-musk-takes-stand-in-court-to-defend-purchase-of-solarcity-11626098958?mod=hp_lead_pos3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175242446","content_text":"Plaintiffs allege billionaire entrepreneur led Tesla to overpay for the home-solar company in 2016.\n\nWILMINGTON, Del.—TeslaInc.TSLA4.38%Chief ExecutiveElon Muskwas in court Monday to defend the company’s purchase of SolarCity Corp., telling a judge that he didn’t act improperly during the negotiating process and doesn’t even enjoy running the electric-vehicle maker.\nThe case dates to 2016, when Mr. Musk was chairman of both companies, both of them unprofitable at the time. His solution: Combine them ina roughly $2.1 billion tie-upto establish a single clean-energy business. Plaintiffs, which include pension funds that owned Tesla stock, have characterized the deal as a scheme to benefit himself and bail out a home-solar company on the verge of insolvency.\nMr. Musk, the opening and only witness in the first day in a nonjury trial in the Delaware Chancery Court, is scheduled to return to the stand Tuesday. He defended his actions in roughly five hours of testimony, saying the SolarCity purchase was crucial tothe sustainable-energy strategyhe had envisioned for Tesla for a decade.\n“I don’t think SolarCity was financially troubled,” Mr. Musk said. “In order to have a compelling product, you really needed to have a tightly integrated solar and battery solution. And we could not create a well integrated product if SolarCity was a separate company.”\nA primary question in the case is whether Mr. Musk, who owned roughly 22% of Tesla at the time, controlled the transaction. Proving the claim is a challenge because Mr. Musk was a minority shareholder of Tesla and the company’s shareholders approved the acquisition. Lawyers for Mr. Musk have said that SolarCity was worth more than Tesla paid for it and the electric-vehicle maker’s board members, who included Mr. Musk’s brother, Kimbal Musk, acted independently.\nThe billionaire CEO, who has a record of sometimes blunt and surprising statements, said Monday that he didn’t enjoy being the boss of Tesla. “I rather hate it and I would much prefer to spend my time on design and engineering, which is what intrinsically I like doing,” he said.\nMr. Musk made the comment after opposing counsel tried to show how his “force of will” and faith in his view of Tesla’s future illustrated his ability to control the SolarCity transaction.\nOther issues before the judge include whether Tesla board members, some of whom also were SolarCity shareholders personally or through investment funds they managed, were conflicted and whether vital information about the deal was withheld from shareholders. Mr. Musk testified that an independent director handled the negotiation and that Tesla’s directors even overruled his proposal that Tesla provide temporary financing to SolarCity before the deal went through.\nMr. Musk spoke in a calm and sometimes quiet tone as he answered his lawyer’s questions. He became more energetic when he fielded questions from Randall Baron, a lawyer for the plaintiffs. Mr. Baron pressed Mr. Musk on whether he dominated Tesla, handpicked its board members and made decisions without directors’ involvement.\nMr. Musk has already displayed flashes of hissometimes combative naturein the case, making for a confrontational witness in a 2019 deposition, calling Mr. Baron “reprehensible” for “attacking sustainable energy.”\nTo explain the behavior, Mr. Musk told the court he didn’t respect Mr. Baron because the lawyer had once worked at a law firm whose partners becameengulfed in an ethics scandaland went to prison over their misdeeds. “I think you are a bad human being,” Mr. Musk said to Mr. Baron.\nMr. Baron asked Mr. Musk why SolarCity’s performance varied significantly from the projections that Tesla gave to shareholders in 2016. Mr. Musk blamed the decline in solar-panel installation and market share to Tesla’s pressing need to focus on developing its Model 3 car in 2017 and 2018. Tesla at the time wasstruggling to bring the car to market.\n“Those were the three hardest years of my entire career,” he said, later calling the period excruciating. “The company was in dire straits. Many of the times I thought we were out of the woods, we were not.”\nMore recently, Mr. Musk said, the coronavirus pandemic hurt Tesla’s ability to get permits for residential solar installations.\nIf Mr. Musk loses, he could be asked to make Tesla whole. That payment could equal the value of the SolarCity transaction if the presiding judge finds that the solar firm wasn’t worth anything when Tesla agreed to buy it.\nThe trial has been delayed for more than a year because of the pandemic and is expected to last two weeks.\nOther Tesla board members at the time of the tie-up agreed to settle last year for a combined $60 million, paid by insurance. The board members, some of whom had interests in both Tesla and SolarCity, denied wrongdoing.\nMr. Musk brought the proposed deal to Tesla’s board in early 2016, court records show. The plaintiffs describe SolarCity as having been in severe financial distress leading up to the deal, at risk of tripping a debt covenant and without other fundraising options. Shareholders weren’t fully informed of the company’s condition, they say.\nMr. Baron pressed that point Monday, asking Mr. Musk about internal emails and meetings that discussed efforts to save money by delaying payments to vendors and other moves. The attorney also asked whether he was aware thatLazardLtd.bankers had tried to raise money for SolarCity in 2016 and found most of the private investors they surveyed to be unreceptive.\nMr. Musk said Tesla also occasionally took such steps to conserve cash. He said SolarCity could have raised money from private investors if it had more time to do so, and ultimately could have sold stock to public investors.\nIf chancery court Vice Chancellor Joseph Slights III, the presiding judge, finds Mr. Musk didn’t control the deal, the case is likely over for the plaintiffs, said Lawrence Hamermesh, executive director of the Institute for Law and Economics at the University of Pennsylvania’s Carey Law School.\nCase law in Delaware generally defers to the business judgment of independent and properly motivated directors. On the other hand, if the evidence points to control, the court would assess whether the deal process and price were fair and, if not, whether Mr. Musk should be ordered to pay money back to Tesla, Mr. Hamermesh said.\nFor Mr. Musk, who now ranks among the world’s wealthiest people, the optics of a loss likely would be more meaningful than any court-ordered financial judgment, said Seth Goldstein, an analyst for Morningstar Research Services LLC.\n“You could see the board become extra diligent with regard to acquisitions that aren’t in Tesla’s current, existing industries,” Mr. Goldstein said.\nTesla investors also have enjoyed a change in fortunes since the takeover first surfaced. The vehicle makerposted its first full-year of profit in 2020. The stock, which traded at around $44when Tesla proposed buying SolarCity, closed Monday at around $686, up 4.38% on the day.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":237,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152123277,"gmtCreate":1625276941699,"gmtModify":1633941869636,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Semicon is good to get in","listText":"Semicon is good to get in","text":"Semicon is good to get in","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/152123277","repostId":"1104835932","repostType":4,"repost":{"id":"1104835932","kind":"news","pubTimestamp":1625276444,"share":"https://www.laohu8.com/m/news/1104835932?lang=zh_CN&edition=full","pubTime":"2021-07-03 09:40","market":"us","language":"en","title":"Taiwan Semiconductor Is Ripe for Entry: Here's How I'm Playing It<blockquote>台积电进入的时机已经成熟：我是这样玩的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104835932","media":"The Street","summary":"I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.Thinking about... Taiwan Semiconductor  . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections,","content":"<p>  <i>I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.</i>  Thinking about... Taiwan Semiconductor (TSM) . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections, six that have made annual projections, and just two that have really stuck their necks out and stated a price target at any point in the past six months.</p><p><blockquote><i>我对半决赛很感兴趣已经有一段时间了，因为广泛覆盖的短缺创造了巨大的定价权。</i>思考...台积电(TSM)。台积电将于7月16日公布两周后的第二季度财务业绩。目前，华尔街预计每股收益为0.93美元，意见没有太大分歧。这个名字在整个分析师群体中并没有得到很高的关注。我只能找到四位分析师做出了季度预测，六位分析师做出了年度预测，只有两位分析师在过去六个月的任何时候真正竭尽全力并提出了价格目标。</blockquote></p><p> The range of EPS expectations for Q2 EPS for TSM, across those four analysts is just $0.91 to $0.95. Wall Street is looking for approximately $13.2 billion in revenue generation for the quarter, which would be year over year sales growth of about 27%. This would be an acceleration in sales growth for a second consecutive quarter.</p><p><blockquote>这四位分析师对TSM第二季度每股收益的预期范围仅为0.91美元至0.95美元。华尔街预计本季度收入约为132亿美元，销售额同比增长约27%。这将是销售额连续第二个季度加速增长。</blockquote></p><p> <b>This Week</b></p><p><blockquote><b>本周</b></blockquote></p><p> It was Tuesday. DigiTimes reports that Taiwan Semiconductor is expected to record record revenues for June, due to shipments of iPhones showing up in the data. Apparently, reduced purchases by client Bitmain, as China bans Bitcoin mining had not taken the toll on TSM sales as some had expected. Demand for 5nm and 7nm processors had offset the loss of that mining business as the firm shipped chips for Apple's (AAPL) smartphones in time to appear in June's numbers. The expectation is that the firm stays on course for 20% sales growth for the fiscal year, and that June could be flat from May (which is a good thing).</p><p><blockquote>那天是星期二。DigiTimes报道称，由于数据中显示了iPhones的出货量，台积电预计将在6月份创下创纪录的收入。显然，由于中国禁止比特币矿业，客户比特大陆的购买量减少并没有像一些人预期的那样对TSM的销售造成影响。对5纳米和7纳米处理器的需求抵消了采矿业务的损失，因为该公司及时为苹果(AAPL)智能手机发货芯片，并出现在6月份的数据中。预计该公司本财年销售额将保持20%的增长，6月份可能与5月份持平（这是一件好事）。</blockquote></p><p> Early this (Friday) morning, news broke that Apple and Intel (INTC) will be the first customers to test TSM's 3nm production technology, which if all goes well, deploys toward the back half of 2022. Nikkei Asia reports that Intel is planning at least two projects to design CPUs for notebooks and data centers around the new 3nm chips.</p><p><blockquote>本周五凌晨，有消息称苹果和英特尔(INTC)将成为首批测试TSM 3nm生产技术的客户，如果一切顺利，该技术将于2022年下半年部署。《日经亚洲》报道称，英特尔正在计划至少两个项目，围绕新的3纳米芯片为笔记本电脑和数据中心设计CPU。</blockquote></p><p> Just a quick tutorial. TSM's 5nm chips are the most advanced chips available and if you have an iPhone 12, you have one of these chips. TSM is indicating that the new 3nm chips will offer a 10% to 15% boost to computing performance compared to the current 5nm product, while also reducing power consumption by 25% to 30%.</p><p><blockquote>只是一个快速教程。TSM的5纳米芯片是最先进的芯片，如果你有iPhone 12，你就有其中一个芯片。TSM表示，与当前的5纳米产品相比，新的3纳米芯片将使计算性能提高10%至15%，同时功耗还将降低25%至30%。</blockquote></p><p> As an aside, Intel announced the delay of the Sapphire Rapids data center processor earlier this week. While this is seen around Wall Street as yet another chance for Advanced Micro Devices (AMD) , and even Nvidia (NVDA) , to tackle even more market share away from the lumbering giant, but also makes at least this investor wonder just how Intel thinks they are going to get to a point anytime soon where they can compete with the likes of Taiwan Semiconductor as a global foundry to other chip designers.</p><p><blockquote>顺便说一句，英特尔本周早些时候宣布了Sapphire Rapids数据中心处理器的延迟。虽然这被华尔街视为Advanced Micro Devices(AMD)甚至英伟达(NVDA)从这家笨重的巨头手中夺取更多市场份额的又一次机会，但这也至少让这位投资者想知道英特尔如何认为他们很快就会达到可以与台积电等公司竞争的地步，成为其他芯片设计公司的全球代工厂。</blockquote></p><p> <b>Wall Street</b></p><p><blockquote><b>华尔街</b></blockquote></p><p> Of those few analysts that I mentioned who actually cover the name, only one reacted to this news. Susquehanna's five star (rated at TipRanks) analyst Mehdi Hosseini upgraded the name from \"Negative\" to \"Neutral\", while upping his target price from $85 to $105. The only other analyst with a recent target price is Jim Kelleher of Argus Research (also five stars). Kelleher initiated the name a week earlier as a \"Buy\" with a $150 target.</p><p><blockquote>在我提到的几位实际报道该名字的分析师中，只有一位对此消息做出了反应。Susquehanna的五星级（TipRanks评级）分析师Mehdi Hosseini将该名称从“负面”上调至“中性”，同时将目标价从85美元上调至105美元。最近唯一有目标价的分析师是Argus Research的Jim Kelleher（也是五星）。凯莱赫(Kelleher)一周前首次将该名称定为“买入”，目标价为150美元。</blockquote></p><p> <b>The Chart</b></p><p><blockquote><b>图表</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/19c41db815e4b2cbbc0f31979123e544\" tg-width=\"700\" tg-height=\"530\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Readers will see that in late April, these shares managed to turn a descending triangle (which is a bearish pattern) into a flat basing pattern without ever allowing the triangle to close. Since bottoming, TSM has retaken both the 21 day EMA and the 50 day SMA, using the former as support on weakness just yesterday.</p><p><blockquote>读者会看到，在4月下旬，这些股票成功地将下降三角形（这是一种看跌模式）转变为平基模式，而没有让三角形闭合。自触底以来，TSM已重新夺回21日均线和50日均线，并将前者作为昨天疲软的支撑。</blockquote></p><p> <b>The Plan</b></p><p><blockquote><b>计划</b></blockquote></p><p> Regular followers well know that I have been hot for the semis for a good while now, in spite of, or rather because of the widely covered shortages that are creating significant pricing power.</p><p><blockquote>经常关注的人都知道，我对半决赛的渴望已经有一段时间了，尽管，或者更确切地说，是因为广泛报道的短缺创造了巨大的定价权。</blockquote></p><p> I am already long AMD, and Marvell Technology (MRVL) , both of whom have been solid investments. I am long Micron (MU) , which looked good until this week. I am long Nvidia which has simply been epic.</p><p><blockquote>我已经做多AMD和Marvell Technology(MRVL)，这两家公司都是可靠的投资。我是长微米（MU），直到本周看起来还不错。我做多英伟达，这简直是史诗般的。</blockquote></p><p> I am also long semiconductor equipment names... Applied Materials (AMAT) , and Brooks Automation (BRKS) , two names that have been good, and meh, respectively. I probably have room for a large foundry that will probably make short work of Intel (my opinion) once Intel tries to move in on their business.</p><p><blockquote>我也是长半导体设备名……应用材料公司（AMAT）和布鲁克斯自动化公司（BRKS），这两个名字一直很好，分别是meh。我可能有一个大型代工厂的空间，一旦英特尔试图进入他们的业务，他们可能会很快与英特尔合作（我的观点）。</blockquote></p><p> I think TSM is ripe for entry, perhaps to the tune of 1/8 of intended position size. I would expect to add a second tranche of 1/8 at either a test of the 21 day EMA or a retaking of the $122 level, which is our pivot. Our target price upon taking that pivot will be $144, while for now (after purchasing these shares), I will go with a panic point of $110 (8% discount to initial entry).</p><p><blockquote>我认为TSM进入的时机已经成熟，也许是预期头寸规模的1/8。我预计在测试21日均线或夺回122美元水平时增加第二笔1/8，这是我们的支点。我们采取这一支点后的目标价将为144美元，而目前（购买这些股票后），我将选择110美元的恐慌点（初始入场折扣8%）。</blockquote></p><p></p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Taiwan Semiconductor Is Ripe for Entry: Here's How I'm Playing It<blockquote>台积电进入的时机已经成熟：我是这样玩的</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\">\nTaiwan Semiconductor Is Ripe for Entry: Here's How I'm Playing It<blockquote>台积电进入的时机已经成熟：我是这样玩的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Street</strong><span class=\"h-time small\">2021-07-03 09:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <i>I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.</i>  Thinking about... Taiwan Semiconductor (TSM) . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections, six that have made annual projections, and just two that have really stuck their necks out and stated a price target at any point in the past six months.</p><p><blockquote><i>我对半决赛很感兴趣已经有一段时间了，因为广泛覆盖的短缺创造了巨大的定价权。</i>思考...台积电(TSM)。台积电将于7月16日公布两周后的第二季度财务业绩。目前，华尔街预计每股收益为0.93美元，意见没有太大分歧。这个名字在整个分析师群体中并没有得到很高的关注。我只能找到四位分析师做出了季度预测，六位分析师做出了年度预测，只有两位分析师在过去六个月的任何时候真正竭尽全力并提出了价格目标。</blockquote></p><p> The range of EPS expectations for Q2 EPS for TSM, across those four analysts is just $0.91 to $0.95. Wall Street is looking for approximately $13.2 billion in revenue generation for the quarter, which would be year over year sales growth of about 27%. This would be an acceleration in sales growth for a second consecutive quarter.</p><p><blockquote>这四位分析师对TSM第二季度每股收益的预期范围仅为0.91美元至0.95美元。华尔街预计本季度收入约为132亿美元，销售额同比增长约27%。这将是销售额连续第二个季度加速增长。</blockquote></p><p> <b>This Week</b></p><p><blockquote><b>本周</b></blockquote></p><p> It was Tuesday. DigiTimes reports that Taiwan Semiconductor is expected to record record revenues for June, due to shipments of iPhones showing up in the data. Apparently, reduced purchases by client Bitmain, as China bans Bitcoin mining had not taken the toll on TSM sales as some had expected. Demand for 5nm and 7nm processors had offset the loss of that mining business as the firm shipped chips for Apple's (AAPL) smartphones in time to appear in June's numbers. The expectation is that the firm stays on course for 20% sales growth for the fiscal year, and that June could be flat from May (which is a good thing).</p><p><blockquote>那天是星期二。DigiTimes报道称，由于数据中显示了iPhones的出货量，台积电预计将在6月份创下创纪录的收入。显然，由于中国禁止比特币矿业，客户比特大陆的购买量减少并没有像一些人预期的那样对TSM的销售造成影响。对5纳米和7纳米处理器的需求抵消了采矿业务的损失，因为该公司及时为苹果(AAPL)智能手机发货芯片，并出现在6月份的数据中。预计该公司本财年销售额将保持20%的增长，6月份可能与5月份持平（这是一件好事）。</blockquote></p><p> Early this (Friday) morning, news broke that Apple and Intel (INTC) will be the first customers to test TSM's 3nm production technology, which if all goes well, deploys toward the back half of 2022. Nikkei Asia reports that Intel is planning at least two projects to design CPUs for notebooks and data centers around the new 3nm chips.</p><p><blockquote>本周五凌晨，有消息称苹果和英特尔(INTC)将成为首批测试TSM 3nm生产技术的客户，如果一切顺利，该技术将于2022年下半年部署。《日经亚洲》报道称，英特尔正在计划至少两个项目，围绕新的3纳米芯片为笔记本电脑和数据中心设计CPU。</blockquote></p><p> Just a quick tutorial. TSM's 5nm chips are the most advanced chips available and if you have an iPhone 12, you have one of these chips. TSM is indicating that the new 3nm chips will offer a 10% to 15% boost to computing performance compared to the current 5nm product, while also reducing power consumption by 25% to 30%.</p><p><blockquote>只是一个快速教程。TSM的5纳米芯片是最先进的芯片，如果你有iPhone 12，你就有其中一个芯片。TSM表示，与当前的5纳米产品相比，新的3纳米芯片将使计算性能提高10%至15%，同时功耗还将降低25%至30%。</blockquote></p><p> As an aside, Intel announced the delay of the Sapphire Rapids data center processor earlier this week. While this is seen around Wall Street as yet another chance for Advanced Micro Devices (AMD) , and even Nvidia (NVDA) , to tackle even more market share away from the lumbering giant, but also makes at least this investor wonder just how Intel thinks they are going to get to a point anytime soon where they can compete with the likes of Taiwan Semiconductor as a global foundry to other chip designers.</p><p><blockquote>顺便说一句，英特尔本周早些时候宣布了Sapphire Rapids数据中心处理器的延迟。虽然这被华尔街视为Advanced Micro Devices(AMD)甚至英伟达(NVDA)从这家笨重的巨头手中夺取更多市场份额的又一次机会，但这也至少让这位投资者想知道英特尔如何认为他们很快就会达到可以与台积电等公司竞争的地步，成为其他芯片设计公司的全球代工厂。</blockquote></p><p> <b>Wall Street</b></p><p><blockquote><b>华尔街</b></blockquote></p><p> Of those few analysts that I mentioned who actually cover the name, only one reacted to this news. Susquehanna's five star (rated at TipRanks) analyst Mehdi Hosseini upgraded the name from \"Negative\" to \"Neutral\", while upping his target price from $85 to $105. The only other analyst with a recent target price is Jim Kelleher of Argus Research (also five stars). Kelleher initiated the name a week earlier as a \"Buy\" with a $150 target.</p><p><blockquote>在我提到的几位实际报道该名字的分析师中，只有一位对此消息做出了反应。Susquehanna的五星级（TipRanks评级）分析师Mehdi Hosseini将该名称从“负面”上调至“中性”，同时将目标价从85美元上调至105美元。最近唯一有目标价的分析师是Argus Research的Jim Kelleher（也是五星）。凯莱赫(Kelleher)一周前首次将该名称定为“买入”，目标价为150美元。</blockquote></p><p> <b>The Chart</b></p><p><blockquote><b>图表</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/19c41db815e4b2cbbc0f31979123e544\" tg-width=\"700\" tg-height=\"530\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Readers will see that in late April, these shares managed to turn a descending triangle (which is a bearish pattern) into a flat basing pattern without ever allowing the triangle to close. Since bottoming, TSM has retaken both the 21 day EMA and the 50 day SMA, using the former as support on weakness just yesterday.</p><p><blockquote>读者会看到，在4月下旬，这些股票成功地将下降三角形（这是一种看跌模式）转变为平基模式，而没有让三角形闭合。自触底以来，TSM已重新夺回21日均线和50日均线，并将前者作为昨天疲软的支撑。</blockquote></p><p> <b>The Plan</b></p><p><blockquote><b>计划</b></blockquote></p><p> Regular followers well know that I have been hot for the semis for a good while now, in spite of, or rather because of the widely covered shortages that are creating significant pricing power.</p><p><blockquote>经常关注的人都知道，我对半决赛的渴望已经有一段时间了，尽管，或者更确切地说，是因为广泛报道的短缺创造了巨大的定价权。</blockquote></p><p> I am already long AMD, and Marvell Technology (MRVL) , both of whom have been solid investments. I am long Micron (MU) , which looked good until this week. I am long Nvidia which has simply been epic.</p><p><blockquote>我已经做多AMD和Marvell Technology(MRVL)，这两家公司都是可靠的投资。我是长微米（MU），直到本周看起来还不错。我做多英伟达，这简直是史诗般的。</blockquote></p><p> I am also long semiconductor equipment names... Applied Materials (AMAT) , and Brooks Automation (BRKS) , two names that have been good, and meh, respectively. I probably have room for a large foundry that will probably make short work of Intel (my opinion) once Intel tries to move in on their business.</p><p><blockquote>我也是长半导体设备名……应用材料公司（AMAT）和布鲁克斯自动化公司（BRKS），这两个名字一直很好，分别是meh。我可能有一个大型代工厂的空间，一旦英特尔试图进入他们的业务，他们可能会很快与英特尔合作（我的观点）。</blockquote></p><p> I think TSM is ripe for entry, perhaps to the tune of 1/8 of intended position size. I would expect to add a second tranche of 1/8 at either a test of the 21 day EMA or a retaking of the $122 level, which is our pivot. Our target price upon taking that pivot will be $144, while for now (after purchasing these shares), I will go with a panic point of $110 (8% discount to initial entry).</p><p><blockquote>我认为TSM进入的时机已经成熟，也许是预期头寸规模的1/8。我预计在测试21日均线或夺回122美元水平时增加第二笔1/8，这是我们的支点。我们采取这一支点后的目标价将为144美元，而目前（购买这些股票后），我将选择110美元的恐慌点（初始入场折扣8%）。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://realmoney.thestreet.com/investing/taiwan-semiconductor-is-ripe-for-entry-here-s-how-i-m-playing-it-15702133?puc=yahoo&cm_ven=YAHOO\">The Street</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMD":"美国超微公司","MU":"美光科技","AAPL":"苹果","INTC":"英特尔","NVDA":"英伟达","AMAT":"应用材料","MRVL":"迈威尔科技","TSM":"台积电"},"source_url":"https://realmoney.thestreet.com/investing/taiwan-semiconductor-is-ripe-for-entry-here-s-how-i-m-playing-it-15702133?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104835932","content_text":"I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.\n\nThinking about... Taiwan Semiconductor (TSM) . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections, six that have made annual projections, and just two that have really stuck their necks out and stated a price target at any point in the past six months.\nThe range of EPS expectations for Q2 EPS for TSM, across those four analysts is just $0.91 to $0.95. Wall Street is looking for approximately $13.2 billion in revenue generation for the quarter, which would be year over year sales growth of about 27%. This would be an acceleration in sales growth for a second consecutive quarter.\nThis Week\nIt was Tuesday. DigiTimes reports that Taiwan Semiconductor is expected to record record revenues for June, due to shipments of iPhones showing up in the data. Apparently, reduced purchases by client Bitmain, as China bans Bitcoin mining had not taken the toll on TSM sales as some had expected. Demand for 5nm and 7nm processors had offset the loss of that mining business as the firm shipped chips for Apple's (AAPL) smartphones in time to appear in June's numbers. The expectation is that the firm stays on course for 20% sales growth for the fiscal year, and that June could be flat from May (which is a good thing).\nEarly this (Friday) morning, news broke that Apple and Intel (INTC) will be the first customers to test TSM's 3nm production technology, which if all goes well, deploys toward the back half of 2022. Nikkei Asia reports that Intel is planning at least two projects to design CPUs for notebooks and data centers around the new 3nm chips.\nJust a quick tutorial. TSM's 5nm chips are the most advanced chips available and if you have an iPhone 12, you have one of these chips. TSM is indicating that the new 3nm chips will offer a 10% to 15% boost to computing performance compared to the current 5nm product, while also reducing power consumption by 25% to 30%.\nAs an aside, Intel announced the delay of the Sapphire Rapids data center processor earlier this week. While this is seen around Wall Street as yet another chance for Advanced Micro Devices (AMD) , and even Nvidia (NVDA) , to tackle even more market share away from the lumbering giant, but also makes at least this investor wonder just how Intel thinks they are going to get to a point anytime soon where they can compete with the likes of Taiwan Semiconductor as a global foundry to other chip designers.\nWall Street\nOf those few analysts that I mentioned who actually cover the name, only one reacted to this news. Susquehanna's five star (rated at TipRanks) analyst Mehdi Hosseini upgraded the name from \"Negative\" to \"Neutral\", while upping his target price from $85 to $105. The only other analyst with a recent target price is Jim Kelleher of Argus Research (also five stars). Kelleher initiated the name a week earlier as a \"Buy\" with a $150 target.\nThe Chart\n\nReaders will see that in late April, these shares managed to turn a descending triangle (which is a bearish pattern) into a flat basing pattern without ever allowing the triangle to close. Since bottoming, TSM has retaken both the 21 day EMA and the 50 day SMA, using the former as support on weakness just yesterday.\nThe Plan\nRegular followers well know that I have been hot for the semis for a good while now, in spite of, or rather because of the widely covered shortages that are creating significant pricing power.\nI am already long AMD, and Marvell Technology (MRVL) , both of whom have been solid investments. I am long Micron (MU) , which looked good until this week. I am long Nvidia which has simply been epic.\nI am also long semiconductor equipment names... Applied Materials (AMAT) , and Brooks Automation (BRKS) , two names that have been good, and meh, respectively. I probably have room for a large foundry that will probably make short work of Intel (my opinion) once Intel tries to move in on their business.\nI think TSM is ripe for entry, perhaps to the tune of 1/8 of intended position size. I would expect to add a second tranche of 1/8 at either a test of the 21 day EMA or a retaking of the $122 level, which is our pivot. Our target price upon taking that pivot will be $144, while for now (after purchasing these shares), I will go with a panic point of $110 (8% discount to initial entry).","news_type":1,"symbols_score_info":{"MU":0.9,"AMAT":0.9,"AMD":0.9,"AAPL":0.9,"TSM":0.9,"MRVL":0.9,"BRKS":0.9,"INTC":0.9,"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860477345,"gmtCreate":1632206126087,"gmtModify":1632802068110,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Apple still a good stock for long term hold","listText":"Apple still a good stock for long term hold","text":"Apple still a good stock for long term hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/860477345","repostId":"1147257083","repostType":4,"repost":{"id":"1147257083","kind":"news","pubTimestamp":1632204394,"share":"https://www.laohu8.com/m/news/1147257083?lang=zh_CN&edition=full","pubTime":"2021-09-21 14:06","market":"us","language":"en","title":"Apple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师表示，苹果iPhone 13的设置看起来比iPhone 12更糟糕</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147257083","media":"Barrons","summary":"Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPh","content":"<p>Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPhone 13 launched last week didn’t surprise anyone, there are good reasons to predict it will have a positive impact on the share price.</p><p><blockquote>苹果股票的生死几乎取决于该公司每年的iPhone销量。尽管上周推出的iPhone 13没有让任何人感到惊讶，但有充分的理由预测它将对股价产生积极影响。</blockquote></p><p> But New Street Research analyst Pierre Ferragu wrote in a research note that investors should be cautious about Apple’s (ticker: AAPL) forthcoming iPhone 13 sales. It’s not the phone itself, which looks like a powerful piece of hardware, and contains several incremental updates. The problem is the number of people who are likely to upgrade that is getting discussed on Wall Street.</p><p><blockquote>但New Street Research分析师Pierre Ferragu在一份研究报告中写道，投资者应该对苹果（股票代码：AAPL）即将推出的iPhone 13销售保持谨慎。它不是手机本身，它看起来像一个强大的硬件，并包含几个增量更新。问题是华尔街正在讨论的可能升级的人数。</blockquote></p><p> Several reports, Ferragu wrote, say that there are more than 450 million iPhones three years old or older—seemingly nearly a half billion people that may want to upgrade. As a result, Apple bulls have predicted a strong cycle for the forthcoming batch of phones.</p><p><blockquote>费拉古写道，几份报告称，有超过4.5亿部三年或更长时间的iPhone——似乎有近5亿人可能想要升级。因此，苹果的多头预测即将推出的一批手机将出现强劲的周期。</blockquote></p><p> But Ferragu said that steps over an important factor: most people who buy new phones are now upgrading them every two years, either trading them in or handing them down to a child, for example. Their phones are reused in the secondary market, which upgrades every two to three years.</p><p><blockquote>但费拉古表示，这忽略了一个重要因素：大多数购买新手机的人现在每两年升级一次，例如，要么以旧换新，要么传给孩子。他们的手机在二级市场重复使用，二级市场每两到三年升级一次。</blockquote></p><p> Taking into account the phones that will likely get upgraded this year—from people who own iPhones that are roughly two years old—Ferragu arrives at a much smaller number of likely replacements: 190 million. That is fewer than last year’s figure, which suggests to him that the setup for the iPhone 13 isn’t as good as the iPhone 12.</p><p><blockquote>考虑到今年可能会升级的手机——来自拥有大约两年历史的iPhone的人——Ferragu得出的可能更换数量要少得多：1.9亿部。这低于去年的数字，这向他表明iPhone 13的设置不如iPhone 12。</blockquote></p><p> In May, Ferragu downgraded Apple stock to a Sell, and set a $90 target price. At the time, he wrote that his team sees “material downside risk” with shipments of the new phones in the 180 million to 200 million range, compared with the consensus estimate of 234 million.</p><p><blockquote>5月份，Ferragu将苹果股票评级下调至卖出，并设定了90美元的目标价。当时，他写道，他的团队认为新手机的出货量在1.8亿至2亿部之间存在“重大下行风险”，而市场普遍估计为2.34亿部。</blockquote></p><p> Of the 44 analysts that cover Apple 73% rate shares at Buy, and 23% have a Hold rating.</p><p><blockquote>在研究苹果的44名分析师中，73%的分析师给予买入评级，23%的分析师给予持有评级。</blockquote></p><p> Apple stock fell 2.1% to $142.9 on Tuesday&nbsp;amid broad market weakness. Shares have gained 7.7% this year, as the comparable rise in the&nbsp;S&amp;P 500 inde&nbsp;stands at 16%.</p><p><blockquote>由于市场普遍疲软，苹果股价周二下跌2.1%，至142.9美元。今年股价上涨了7.7%，标准普尔500指数的可比涨幅为16%。</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>Apple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师表示，苹果iPhone 13的设置看起来比iPhone 12更糟糕</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\">\nApple iPhone 13 Setup Looks Worse Than iPhone 12, Says Analyst<blockquote>分析师表示，苹果iPhone 13的设置看起来比iPhone 12更糟糕</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-21 14:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPhone 13 launched last week didn’t surprise anyone, there are good reasons to predict it will have a positive impact on the share price.</p><p><blockquote>苹果股票的生死几乎取决于该公司每年的iPhone销量。尽管上周推出的iPhone 13没有让任何人感到惊讶，但有充分的理由预测它将对股价产生积极影响。</blockquote></p><p> But New Street Research analyst Pierre Ferragu wrote in a research note that investors should be cautious about Apple’s (ticker: AAPL) forthcoming iPhone 13 sales. It’s not the phone itself, which looks like a powerful piece of hardware, and contains several incremental updates. The problem is the number of people who are likely to upgrade that is getting discussed on Wall Street.</p><p><blockquote>但New Street Research分析师Pierre Ferragu在一份研究报告中写道，投资者应该对苹果（股票代码：AAPL）即将推出的iPhone 13销售保持谨慎。它不是手机本身，它看起来像一个强大的硬件，并包含几个增量更新。问题是华尔街正在讨论的可能升级的人数。</blockquote></p><p> Several reports, Ferragu wrote, say that there are more than 450 million iPhones three years old or older—seemingly nearly a half billion people that may want to upgrade. As a result, Apple bulls have predicted a strong cycle for the forthcoming batch of phones.</p><p><blockquote>费拉古写道，几份报告称，有超过4.5亿部三年或更长时间的iPhone——似乎有近5亿人可能想要升级。因此，苹果的多头预测即将推出的一批手机将出现强劲的周期。</blockquote></p><p> But Ferragu said that steps over an important factor: most people who buy new phones are now upgrading them every two years, either trading them in or handing them down to a child, for example. Their phones are reused in the secondary market, which upgrades every two to three years.</p><p><blockquote>但费拉古表示，这忽略了一个重要因素：大多数购买新手机的人现在每两年升级一次，例如，要么以旧换新，要么传给孩子。他们的手机在二级市场重复使用，二级市场每两到三年升级一次。</blockquote></p><p> Taking into account the phones that will likely get upgraded this year—from people who own iPhones that are roughly two years old—Ferragu arrives at a much smaller number of likely replacements: 190 million. That is fewer than last year’s figure, which suggests to him that the setup for the iPhone 13 isn’t as good as the iPhone 12.</p><p><blockquote>考虑到今年可能会升级的手机——来自拥有大约两年历史的iPhone的人——Ferragu得出的可能更换数量要少得多：1.9亿部。这低于去年的数字，这向他表明iPhone 13的设置不如iPhone 12。</blockquote></p><p> In May, Ferragu downgraded Apple stock to a Sell, and set a $90 target price. At the time, he wrote that his team sees “material downside risk” with shipments of the new phones in the 180 million to 200 million range, compared with the consensus estimate of 234 million.</p><p><blockquote>5月份，Ferragu将苹果股票评级下调至卖出，并设定了90美元的目标价。当时，他写道，他的团队认为新手机的出货量在1.8亿至2亿部之间存在“重大下行风险”，而市场普遍估计为2.34亿部。</blockquote></p><p> Of the 44 analysts that cover Apple 73% rate shares at Buy, and 23% have a Hold rating.</p><p><blockquote>在研究苹果的44名分析师中，73%的分析师给予买入评级，23%的分析师给予持有评级。</blockquote></p><p> Apple stock fell 2.1% to $142.9 on Tuesday&nbsp;amid broad market weakness. Shares have gained 7.7% this year, as the comparable rise in the&nbsp;S&amp;P 500 inde&nbsp;stands at 16%.</p><p><blockquote>由于市场普遍疲软，苹果股价周二下跌2.1%，至142.9美元。今年股价上涨了7.7%，标准普尔500指数的可比涨幅为16%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/apple-iphone-13-51632155026?mod=hp_LEADSUPP_1\">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":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-iphone-13-51632155026?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147257083","content_text":"Apple stock practically lives and dies on the company’s iPhone sales every year. Even though the iPhone 13 launched last week didn’t surprise anyone, there are good reasons to predict it will have a positive impact on the share price.\n\nBut New Street Research analyst Pierre Ferragu wrote in a research note that investors should be cautious about Apple’s (ticker: AAPL) forthcoming iPhone 13 sales. It’s not the phone itself, which looks like a powerful piece of hardware, and contains several incremental updates. The problem is the number of people who are likely to upgrade that is getting discussed on Wall Street.\n\nSeveral reports, Ferragu wrote, say that there are more than 450 million iPhones three years old or older—seemingly nearly a half billion people that may want to upgrade. As a result, Apple bulls have predicted a strong cycle for the forthcoming batch of phones.\nBut Ferragu said that steps over an important factor: most people who buy new phones are now upgrading them every two years, either trading them in or handing them down to a child, for example. Their phones are reused in the secondary market, which upgrades every two to three years.\nTaking into account the phones that will likely get upgraded this year—from people who own iPhones that are roughly two years old—Ferragu arrives at a much smaller number of likely replacements: 190 million. That is fewer than last year’s figure, which suggests to him that the setup for the iPhone 13 isn’t as good as the iPhone 12.\nIn May, Ferragu downgraded Apple stock to a Sell, and set a $90 target price. At the time, he wrote that his team sees “material downside risk” with shipments of the new phones in the 180 million to 200 million range, compared with the consensus estimate of 234 million.\nOf the 44 analysts that cover Apple 73% rate shares at Buy, and 23% have a Hold rating.\nApple stock fell 2.1% to $142.9 on Tuesday amid broad market weakness. Shares have gained 7.7% this year, as the comparable rise in the S&P 500 inde stands at 16%.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803372098,"gmtCreate":1627426031714,"gmtModify":1631893876463,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Good time to accumulate","listText":"Good time to accumulate","text":"Good time to accumulate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/803372098","repostId":"1148712151","repostType":4,"isVote":1,"tweetType":1,"viewCount":646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144595003,"gmtCreate":1626305202202,"gmtModify":1633928147125,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"But my portfolio is deep red","listText":"But my portfolio is deep red","text":"But my portfolio is deep red","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/144595003","repostId":"2151548988","repostType":4,"isVote":1,"tweetType":1,"viewCount":530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345720073,"gmtCreate":1618355136092,"gmtModify":1634293575378,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Coinbase bull together with crypto","listText":"Coinbase bull together with crypto","text":"Coinbase bull together with crypto","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/345720073","repostId":"1194635432","repostType":4,"isVote":1,"tweetType":1,"viewCount":330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889181765,"gmtCreate":1631114698157,"gmtModify":1631887249722,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Inflation coming","listText":"Inflation coming","text":"Inflation coming","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/889181765","repostId":"1162593236","repostType":4,"isVote":1,"tweetType":1,"viewCount":1830,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819587322,"gmtCreate":1630077646366,"gmtModify":1704955689764,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Happy seeing my Mara up","listText":"Happy seeing my Mara up","text":"Happy seeing my Mara up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/819587322","repostId":"1199074003","repostType":4,"repost":{"id":"1199074003","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":1630077382,"share":"https://www.laohu8.com/m/news/1199074003?lang=zh_CN&edition=full","pubTime":"2021-08-27 23:16","market":"us","language":"en","title":"Crypto stocks surged in morning trading<blockquote>加密货币股票早盘飙升</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199074003","media":"Tiger Newspress","summary":"Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,","content":"<p>Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,Coinbase&nbsp;and&nbsp;Paypal&nbsp;climbed between 1% and 13%.</p><p><blockquote>加密货币股票在早盘交易中飙升。Bit Digital、Marathon Digital、Riot Blockchain、SoS Ltd、Square、Coinbase和Paypal股价上涨1%至13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/67735af69f95f6a88ee67ae3737e58c0\" tg-width=\"364\" tg-height=\"715\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto stocks surged in morning trading<blockquote>加密货币股票早盘飙升</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\">\nCrypto stocks surged in morning trading<blockquote>加密货币股票早盘飙升</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\">2021-08-27 23:16</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,Coinbase&nbsp;and&nbsp;Paypal&nbsp;climbed between 1% and 13%.</p><p><blockquote>加密货币股票在早盘交易中飙升。Bit Digital、Marathon Digital、Riot Blockchain、SoS Ltd、Square、Coinbase和Paypal股价上涨1%至13%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/67735af69f95f6a88ee67ae3737e58c0\" tg-width=\"364\" tg-height=\"715\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EBON":"亿邦国际","SOS":"SOS Limited","COIN":"Coinbase Global, Inc.","RIOT":"Riot Platforms","CAN":"嘉楠科技","MARA":"MARA Holdings","BTBT":"Bit Digital, Inc.","NCTY":"第九城市"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199074003","content_text":"Crypto stocks surged in morning trading.Bit Digital,Marathon Digital,Riot Blockchain,SoS Ltd,Square,Coinbase and Paypal climbed between 1% and 13%.","news_type":1,"symbols_score_info":{"NCTY":0.9,"BTBT":0.9,"EBON":0.9,"RIOT":0.9,"SOS":0.9,"COIN":0.9,"SQ":0.9,"CAN":0.9,"MARA":0.9,"BTCM":0.9}},"isVote":1,"tweetType":1,"viewCount":535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832322940,"gmtCreate":1629593329780,"gmtModify":1631891412482,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"ON was a good buy","listText":"ON was a good buy","text":"ON was a good buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/832322940","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohu8.com/m/news/1151608193?lang=zh_CN&edition=full","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更加可预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</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\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-23 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更加可预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ON":"安森美半导体","NVDA":"英伟达","TSM":"台积电","SSNLF":"三星电子","SOXX":"iShares费城交易所半导体ETF","AMZN":"亚马逊","GOOG":"谷歌","GOOGL":"谷歌A","CDNS":"铿腾电子","ASML":"阿斯麦","QCOM":"高通","AAPL":"苹果","SNPS":"新思科技"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including Ford cars.","news_type":1,"symbols_score_info":{"GOOG":0.9,"CDNS":0.9,"AMZN":0.9,"GOOGL":0.9,"QCOM":0.9,"NVDA":0.9,"TSM":0.9,"ASML":0.9,"SSNLF":0.9,"SNPS":0.9,"ON":0.9,"AAPL":0.9,"SOXX":0.9}},"isVote":1,"tweetType":1,"viewCount":322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898395319,"gmtCreate":1628472450231,"gmtModify":1631893876447,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"This is bad","listText":"This is bad","text":"This is bad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/898395319","repostId":"1136322726","repostType":4,"isVote":1,"tweetType":1,"viewCount":396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127368693,"gmtCreate":1624836186912,"gmtModify":1633948309550,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Lets see how market will react","listText":"Lets see how market will react","text":"Lets see how market will react","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/127368693","repostId":"2146007118","repostType":4,"isVote":1,"tweetType":1,"viewCount":274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164568570,"gmtCreate":1624230328190,"gmtModify":1631884323877,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Hope for a green week","listText":"Hope for a green week","text":"Hope for a green week","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/164568570","repostId":"1199331995","repostType":4,"isVote":1,"tweetType":1,"viewCount":575,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188713863,"gmtCreate":1623461744152,"gmtModify":1634032905187,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Meme stock everywhere","listText":"Meme stock everywhere","text":"Meme stock everywhere","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/188713863","repostId":"2142120735","repostType":4,"isVote":1,"tweetType":1,"viewCount":368,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365851074,"gmtCreate":1614729691898,"gmtModify":1703480347744,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Spac booming","listText":"Spac booming","text":"Spac booming","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/365851074","repostId":"1172570236","repostType":4,"isVote":1,"tweetType":1,"viewCount":577,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":862230953,"gmtCreate":1632880059708,"gmtModify":1632880060527,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/862230953","repostId":"1106892312","repostType":4,"repost":{"id":"1106892312","kind":"news","pubTimestamp":1632870830,"share":"https://www.laohu8.com/m/news/1106892312?lang=zh_CN&edition=full","pubTime":"2021-09-29 07:13","market":"us","language":"en","title":"These high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些2021年飞涨的股票周二跌幅最大</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106892312","media":"marketwatch","summary":"Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.\n\nThe Federal","content":"<p>  <b>Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.</b>  The Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.</p><p><blockquote><b>受打击尤其严重的股票包括Moderna、英伟达和谷歌控股公司Alphabet。</b>美联储发出的政策变化信号正在产生可预见的影响——随着债券收益率变得更具吸引力，推动股价走低。</blockquote></p><p> This reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.</p><p><blockquote>这扭转了美国股市的一些非常强劲的走势——至少在一天内是这样。以下列出了截至9月27日2021年涨幅至少50%但在9月28日回调幅度最大的10只股票。</blockquote></p><p> The Dow Jones Industrial AverageDJIAdeclined 1.6%, while the S&amp;P 500 IndexSPXfell 2%. The Nasdaq Composite IndexCOMPfared worst, tumbling 2.8%.</p><p><blockquote>道琼斯工业平均指数DJIA下跌1.6%，标普500指数SPX下跌2%。纳斯达克综合指数表现最差，下跌2.8%。</blockquote></p><p> The yield on 10-year U.S. Treasury notesBX:TMUBMUSD10Yincreased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.</p><p><blockquote>10年期美国国债收益率BX：TMUBMUSD10Y上涨5个基点至1.55%。这一比例仅高于一周前的1.33%。</blockquote></p><p> Combined, there are 523 stocks in the S&amp;P 500 and Nasdaq-100NDXindexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.GOOGLGOOGare included:</p><p><blockquote>标普500和纳斯达克-100NDXindex总共有523只股票。FactSet提供的数据显示，截至9月27日，其中50只股票在2021年迄今已上涨至少50%（不包括股息）。以下是9月28日跌幅最大的10只股票——实际上是11只股票，其中包括Alphabet公司的两个普通股类别：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3e62aed3304cd811cf41ce390e38c41c\" tg-width=\"1106\" tg-height=\"713\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/83133c4cfdb3554d40f750a60c91892c\" tg-width=\"1101\" tg-height=\"291\" width=\"100%\" height=\"auto\">Click the tickers for more about each company. Clickhere&nbsp;for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.</p><p><blockquote>单击股票代码了解有关每家公司的更多信息。点击此处获取孙铁麟·基尔戈的详细指南，了解报价页面上免费提供的大量信息。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些2021年飞涨的股票周二跌幅最大</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese high-flying stocks of 2021 dropped the most on Tuesday<blockquote>这些2021年飞涨的股票周二跌幅最大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-09-29 07:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.</b>  The Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.</p><p><blockquote><b>受打击尤其严重的股票包括Moderna、英伟达和谷歌控股公司Alphabet。</b>美联储发出的政策变化信号正在产生可预见的影响——随着债券收益率变得更具吸引力，推动股价走低。</blockquote></p><p> This reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.</p><p><blockquote>这扭转了美国股市的一些非常强劲的走势——至少在一天内是这样。以下列出了截至9月27日2021年涨幅至少50%但在9月28日回调幅度最大的10只股票。</blockquote></p><p> The Dow Jones Industrial AverageDJIAdeclined 1.6%, while the S&amp;P 500 IndexSPXfell 2%. The Nasdaq Composite IndexCOMPfared worst, tumbling 2.8%.</p><p><blockquote>道琼斯工业平均指数DJIA下跌1.6%，标普500指数SPX下跌2%。纳斯达克综合指数表现最差，下跌2.8%。</blockquote></p><p> The yield on 10-year U.S. Treasury notesBX:TMUBMUSD10Yincreased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.</p><p><blockquote>10年期美国国债收益率BX：TMUBMUSD10Y上涨5个基点至1.55%。这一比例仅高于一周前的1.33%。</blockquote></p><p> Combined, there are 523 stocks in the S&amp;P 500 and Nasdaq-100NDXindexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.GOOGLGOOGare included:</p><p><blockquote>标普500和纳斯达克-100NDXindex总共有523只股票。FactSet提供的数据显示，截至9月27日，其中50只股票在2021年迄今已上涨至少50%（不包括股息）。以下是9月28日跌幅最大的10只股票——实际上是11只股票，其中包括Alphabet公司的两个普通股类别：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3e62aed3304cd811cf41ce390e38c41c\" tg-width=\"1106\" tg-height=\"713\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/83133c4cfdb3554d40f750a60c91892c\" tg-width=\"1101\" tg-height=\"291\" width=\"100%\" height=\"auto\">Click the tickers for more about each company. Clickhere&nbsp;for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.</p><p><blockquote>单击股票代码了解有关每家公司的更多信息。点击此处获取孙铁麟·基尔戈的详细指南，了解报价页面上免费提供的大量信息。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/these-high-flying-stocks-of-2021-have-dropped-the-most-today-11632846406?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/these-high-flying-stocks-of-2021-have-dropped-the-most-today-11632846406?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106892312","content_text":"Stocks hit especially hard include Moderna, Nvidia and Google holding company Alphabet.\n\nThe Federal Reserve’s signaled policy change is having a predictable effect — pushing stock prices lower as bond yields become more attractive.\nThis reverses some very strong action for U.S. stocks — at least for a day. Below is a list of 10 stocks that had increased at least 50% for 2021 through Sept. 27, but were pulled back the most on Sept. 28.\nThe Dow Jones Industrial AverageDJIAdeclined 1.6%, while the S&P 500 IndexSPXfell 2%. The Nasdaq Composite IndexCOMPfared worst, tumbling 2.8%.\nThe yield on 10-year U.S. Treasury notesBX:TMUBMUSD10Yincreased by 5 basis points to 1.55%. That was up from 1.33% only a week earlier.\nCombined, there are 523 stocks in the S&P 500 and Nasdaq-100NDXindexes. Among these stocks, 50 had risen at least 50% so far in 2021 through Sept. 27, excluding dividends, according to data provided by FactSet. Here are the 10 that declined the most on Sept. 28 — actually 11 stocks, as two common-share classes of Alphabet Inc.GOOGLGOOGare included:\nClick the tickers for more about each company. Clickhere for Tomi Kilgore’s detailed guide to the wealth of information available for free on the quote page.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868060512,"gmtCreate":1632552953336,"gmtModify":1632658128749,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Lets see how price will react next week","listText":"Lets see how price will react next week","text":"Lets see how price will react next week","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/868060512","repostId":"2170611559","repostType":4,"isVote":1,"tweetType":1,"viewCount":2717,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":809924624,"gmtCreate":1627345017568,"gmtModify":1631893876468,"author":{"id":"3576020103442242","authorId":"3576020103442242","name":"hoa","avatar":"https://static.tigerbbs.com/0fde20263e39879236fafd316b76c363","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576020103442242","idStr":"3576020103442242"},"themes":[],"htmlText":"Keeping my tesla","listText":"Keeping my tesla","text":"Keeping my tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/809924624","repostId":"1153028059","repostType":4,"repost":{"id":"1153028059","kind":"news","pubTimestamp":1627340900,"share":"https://www.laohu8.com/m/news/1153028059?lang=zh_CN&edition=full","pubTime":"2021-07-27 07:08","market":"us","language":"en","title":"Tesla sales surge 98%; company boosts margins on its less-costly electric cars<blockquote>特斯拉销量猛增98%；公司提高了成本较低的电动汽车的利润率</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1153028059","media":"Reuters","summary":" -Tesla Inc posted a bigger second-quarter profit than expected on Tuesday thanks to sharply higher sales of its less-expensive electric vehicles, as it raised prices to boost its margins on them.Tesla also cut costs which helped it offset many of the supply chain and microchip shortfalls facing the auto industry.For the first time since late 2019, Tesla profits did not rely on sales of environmental credits to other automakers, a sign of increasing financial health for the manufacturing operati","content":"<p>(Reuters) -Tesla Inc posted a bigger second-quarter profit than expected on Tuesday thanks to sharply higher sales of its less-expensive electric vehicles, as it raised prices to boost its margins on them.</p><p><blockquote>（路透社）-特斯拉公司周二公布的第二季度利润高于预期，这得益于其较便宜的电动汽车销量大幅增长，该公司提高了价格以提高其利润率。</blockquote></p><p> Tesla also cut costs which helped it offset many of the supply chain and microchip shortfalls facing the auto industry.</p><p><blockquote>特斯拉还削减了成本，这有助于抵消汽车行业面临的许多供应链和微芯片短缺问题。</blockquote></p><p> For the first time since late 2019, Tesla profits did not rely on sales of environmental credits to other automakers, a sign of increasing financial health for the manufacturing operation. Tesla boosted its performance by cutting features it said were unused or unneeded and raising U.S. vehicle prices.</p><p><blockquote>自2019年底以来，特斯拉的利润首次不依赖于向其他汽车制造商出售环境信用，这表明制造业务的财务状况日益健康。特斯拉通过削减其称未使用或不需要的功能以及提高美国汽车价格来提高其业绩。</blockquote></p><p> Shares of the world’s most valuable automaker rose 1.5% in extended trade.</p><p><blockquote>这家全球最有价值汽车制造商的股价在盘后交易中上涨1.5%。</blockquote></p><p> In a call with investors and analysts, Tesla executives said that volume production growth will depend on parts availability, and Musk cautioned the shortage of semiconductors will continue.</p><p><blockquote>在与投资者和分析师的看涨期权中，特斯拉高管表示，量产增长将取决于零部件供应情况，马斯克警告称，半导体短缺将持续。</blockquote></p><p> “The global chip shortage situation remains quite serious,” Musk said.</p><p><blockquote>“全球芯片短缺的情况仍然相当严重，”马斯克说。</blockquote></p><p> Still, Musk said Tesla expects to launch production this year of the Model Y SUV at factories under construction in Texas and Germany. He said the company expects battery cell suppliers to double production next year.</p><p><blockquote>尽管如此，Musk表示，特斯拉预计今年将在德克萨斯和德意志的在建工厂投产Model Y SUV。他表示，该公司预计电池供应商明年的产量将翻一番。</blockquote></p><p> Despite the pandemic and the supply chain crisis, Tesla posted record deliveries during the quarter, thanks to sales of cheaper models including Model 3 sedans and Model Ys.</p><p><blockquote>尽管面临疫情和供应链危机，但得益于Model 3轿车和Model Y等更便宜车型的销售，特斯拉在本季度的交付量仍创下了纪录。</blockquote></p><p> The carmaker, led by billionaire entrepreneur Elon Musk, said revenue jumped to $11.96 billion from $6.04 billion a year earlier, when its California factory was shut down for more than six weeks due to local lockdown orders to fight the pandemic.</p><p><blockquote>这家由亿万富翁企业家埃隆·马斯克(Elon Musk)领导的汽车制造商表示，收入从一年前的60.4亿美元跃升至119.6亿美元，当时其加州工厂因当地抗击疫情的封锁令而关闭了六周多。</blockquote></p><p> Analysts had expected revenue of about $11.3 billion, according to IBES data from Refinitiv.</p><p><blockquote>根据Refinitiv的IBES数据，分析师此前预计营收约为113亿美元。</blockquote></p><p> Excluding items, Tesla posted a profit of $1.45 per share, easily topping analyst expectations for a profit of 98 cents per share.</p><p><blockquote>剔除项目后，特斯拉公布的每股利润为1.45美元，轻松超过分析师预期的每股98美分。</blockquote></p><p> Tesla said operating income rose with volume growth and cost reduction, which offset higher supply chain costs, lower regulatory credit revenue and other items including $23 million in losses on investment in cryptocurrency bitcoin.</p><p><blockquote>特斯拉表示，营业收入随着销量增长和成本降低而上升，这抵消了供应链成本上升、监管信贷收入下降和其他项目，包括加密货币比特币投资损失2300万美元。</blockquote></p><p> Tesla’s profitability has often relied on selling regulatory credits to other automakers, but in the second quarter, Tesla was profitable without these credits for the first time since the end of 2019. Its GAAP net income was $1.14 billion in the second quarter. Revenue from the credits only totaled $354 million.</p><p><blockquote>特斯拉的盈利能力通常依赖于向其他汽车制造商出售监管信用，但在第二季度，特斯拉自2019年底以来首次在没有这些信用的情况下实现盈利。其第二季度GAAP净利润为11.4亿美元。这些积分的收入总计仅为3.54亿美元。</blockquote></p><p> “Tesla impressed with its numbers, as most of its revenue came from vehicle sales,” Jesse Cohen, senior analyst at Investing.com, said.</p><p><blockquote>Investing.com高级分析师Jesse Cohen表示：“特斯拉对其数据印象深刻，因为其大部分收入来自汽车销售。”</blockquote></p><p> Carmaker Stellantis expects to achieve its European carbon dioxide (CO2) emissions targets this year without environmental credits bought from Tesla.</p><p><blockquote>汽车制造商Stellantis预计今年将在没有从特斯拉购买环境信用额的情况下实现其欧洲二氧化碳(CO2)排放目标。</blockquote></p><p> Tesla said it said it has delayed the launch of the Semi truck program to 2022 to focus on starting factories and due to limited availability of battery cells and other parts this year.</p><p><blockquote>特斯拉表示，由于今年电池和其他零部件的供应有限，该公司已将Semi卡车计划的启动推迟到2022年，以专注于启动工厂。</blockquote></p><p> But the company’s new 4680 batteries are not ready for volume production; executives said it was difficult to predict when technological challenges would be resolved.</p><p><blockquote>但该公司的新型4680电池尚未准备好量产；高管们表示，很难预测技术挑战何时能得到解决。</blockquote></p><p> In an aside, Musk said he “most likely will not be on earnings calls” going forward to discuss financial results with investors and analysts. These calls have been a colorful quarterly ritual Musk has used for discourses on Tesla technology, or to fire back at rivals or critics.</p><p><blockquote>顺便说一句，马斯克表示，他“很可能不会在财报评级上”与投资者和分析师讨论财务业绩。这些评级是马斯克每季度举行的一次丰富多彩的仪式，马斯克用它来讨论特斯拉技术，或者回击竞争对手或批评者。</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>Tesla sales surge 98%; company boosts margins on its less-costly electric cars<blockquote>特斯拉销量猛增98%；公司提高了成本较低的电动汽车的利润率</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\">\nTesla sales surge 98%; company boosts margins on its less-costly electric cars<blockquote>特斯拉销量猛增98%；公司提高了成本较低的电动汽车的利润率</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-27 07:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) -Tesla Inc posted a bigger second-quarter profit than expected on Tuesday thanks to sharply higher sales of its less-expensive electric vehicles, as it raised prices to boost its margins on them.</p><p><blockquote>（路透社）-特斯拉公司周二公布的第二季度利润高于预期，这得益于其较便宜的电动汽车销量大幅增长，该公司提高了价格以提高其利润率。</blockquote></p><p> Tesla also cut costs which helped it offset many of the supply chain and microchip shortfalls facing the auto industry.</p><p><blockquote>特斯拉还削减了成本，这有助于抵消汽车行业面临的许多供应链和微芯片短缺问题。</blockquote></p><p> For the first time since late 2019, Tesla profits did not rely on sales of environmental credits to other automakers, a sign of increasing financial health for the manufacturing operation. Tesla boosted its performance by cutting features it said were unused or unneeded and raising U.S. vehicle prices.</p><p><blockquote>自2019年底以来，特斯拉的利润首次不依赖于向其他汽车制造商出售环境信用，这表明制造业务的财务状况日益健康。特斯拉通过削减其称未使用或不需要的功能以及提高美国汽车价格来提高其业绩。</blockquote></p><p> Shares of the world’s most valuable automaker rose 1.5% in extended trade.</p><p><blockquote>这家全球最有价值汽车制造商的股价在盘后交易中上涨1.5%。</blockquote></p><p> In a call with investors and analysts, Tesla executives said that volume production growth will depend on parts availability, and Musk cautioned the shortage of semiconductors will continue.</p><p><blockquote>在与投资者和分析师的看涨期权中，特斯拉高管表示，量产增长将取决于零部件供应情况，马斯克警告称，半导体短缺将持续。</blockquote></p><p> “The global chip shortage situation remains quite serious,” Musk said.</p><p><blockquote>“全球芯片短缺的情况仍然相当严重，”马斯克说。</blockquote></p><p> Still, Musk said Tesla expects to launch production this year of the Model Y SUV at factories under construction in Texas and Germany. He said the company expects battery cell suppliers to double production next year.</p><p><blockquote>尽管如此，Musk表示，特斯拉预计今年将在德克萨斯和德意志的在建工厂投产Model Y SUV。他表示，该公司预计电池供应商明年的产量将翻一番。</blockquote></p><p> Despite the pandemic and the supply chain crisis, Tesla posted record deliveries during the quarter, thanks to sales of cheaper models including Model 3 sedans and Model Ys.</p><p><blockquote>尽管面临疫情和供应链危机，但得益于Model 3轿车和Model Y等更便宜车型的销售，特斯拉在本季度的交付量仍创下了纪录。</blockquote></p><p> The carmaker, led by billionaire entrepreneur Elon Musk, said revenue jumped to $11.96 billion from $6.04 billion a year earlier, when its California factory was shut down for more than six weeks due to local lockdown orders to fight the pandemic.</p><p><blockquote>这家由亿万富翁企业家埃隆·马斯克(Elon Musk)领导的汽车制造商表示，收入从一年前的60.4亿美元跃升至119.6亿美元，当时其加州工厂因当地抗击疫情的封锁令而关闭了六周多。</blockquote></p><p> Analysts had expected revenue of about $11.3 billion, according to IBES data from Refinitiv.</p><p><blockquote>根据Refinitiv的IBES数据，分析师此前预计营收约为113亿美元。</blockquote></p><p> Excluding items, Tesla posted a profit of $1.45 per share, easily topping analyst expectations for a profit of 98 cents per share.</p><p><blockquote>剔除项目后，特斯拉公布的每股利润为1.45美元，轻松超过分析师预期的每股98美分。</blockquote></p><p> Tesla said operating income rose with volume growth and cost reduction, which offset higher supply chain costs, lower regulatory credit revenue and other items including $23 million in losses on investment in cryptocurrency bitcoin.</p><p><blockquote>特斯拉表示，营业收入随着销量增长和成本降低而上升，这抵消了供应链成本上升、监管信贷收入下降和其他项目，包括加密货币比特币投资损失2300万美元。</blockquote></p><p> Tesla’s profitability has often relied on selling regulatory credits to other automakers, but in the second quarter, Tesla was profitable without these credits for the first time since the end of 2019. Its GAAP net income was $1.14 billion in the second quarter. Revenue from the credits only totaled $354 million.</p><p><blockquote>特斯拉的盈利能力通常依赖于向其他汽车制造商出售监管信用，但在第二季度，特斯拉自2019年底以来首次在没有这些信用的情况下实现盈利。其第二季度GAAP净利润为11.4亿美元。这些积分的收入总计仅为3.54亿美元。</blockquote></p><p> “Tesla impressed with its numbers, as most of its revenue came from vehicle sales,” Jesse Cohen, senior analyst at Investing.com, said.</p><p><blockquote>Investing.com高级分析师Jesse Cohen表示：“特斯拉对其数据印象深刻，因为其大部分收入来自汽车销售。”</blockquote></p><p> Carmaker Stellantis expects to achieve its European carbon dioxide (CO2) emissions targets this year without environmental credits bought from Tesla.</p><p><blockquote>汽车制造商Stellantis预计今年将在没有从特斯拉购买环境信用额的情况下实现其欧洲二氧化碳(CO2)排放目标。</blockquote></p><p> Tesla said it said it has delayed the launch of the Semi truck program to 2022 to focus on starting factories and due to limited availability of battery cells and other parts this year.</p><p><blockquote>特斯拉表示，由于今年电池和其他零部件的供应有限，该公司已将Semi卡车计划的启动推迟到2022年，以专注于启动工厂。</blockquote></p><p> But the company’s new 4680 batteries are not ready for volume production; executives said it was difficult to predict when technological challenges would be resolved.</p><p><blockquote>但该公司的新型4680电池尚未准备好量产；高管们表示，很难预测技术挑战何时能得到解决。</blockquote></p><p> In an aside, Musk said he “most likely will not be on earnings calls” going forward to discuss financial results with investors and analysts. These calls have been a colorful quarterly ritual Musk has used for discourses on Tesla technology, or to fire back at rivals or critics.</p><p><blockquote>顺便说一句，马斯克表示，他“很可能不会在财报评级上”与投资者和分析师讨论财务业绩。这些评级是马斯克每季度举行的一次丰富多彩的仪式，马斯克用它来讨论特斯拉技术，或者回击竞争对手或批评者。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/tesla-results/update-4-tesla-sales-surge-98-company-boosts-margins-on-its-less-costly-electric-cars-idUSL4N2P23I5\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.reuters.com/article/tesla-results/update-4-tesla-sales-surge-98-company-boosts-margins-on-its-less-costly-electric-cars-idUSL4N2P23I5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153028059","content_text":"(Reuters) -Tesla Inc posted a bigger second-quarter profit than expected on Tuesday thanks to sharply higher sales of its less-expensive electric vehicles, as it raised prices to boost its margins on them.\nTesla also cut costs which helped it offset many of the supply chain and microchip shortfalls facing the auto industry.\nFor the first time since late 2019, Tesla profits did not rely on sales of environmental credits to other automakers, a sign of increasing financial health for the manufacturing operation. Tesla boosted its performance by cutting features it said were unused or unneeded and raising U.S. vehicle prices.\nShares of the world’s most valuable automaker rose 1.5% in extended trade.\nIn a call with investors and analysts, Tesla executives said that volume production growth will depend on parts availability, and Musk cautioned the shortage of semiconductors will continue.\n“The global chip shortage situation remains quite serious,” Musk said.\nStill, Musk said Tesla expects to launch production this year of the Model Y SUV at factories under construction in Texas and Germany. He said the company expects battery cell suppliers to double production next year.\nDespite the pandemic and the supply chain crisis, Tesla posted record deliveries during the quarter, thanks to sales of cheaper models including Model 3 sedans and Model Ys.\nThe carmaker, led by billionaire entrepreneur Elon Musk, said revenue jumped to $11.96 billion from $6.04 billion a year earlier, when its California factory was shut down for more than six weeks due to local lockdown orders to fight the pandemic.\nAnalysts had expected revenue of about $11.3 billion, according to IBES data from Refinitiv.\nExcluding items, Tesla posted a profit of $1.45 per share, easily topping analyst expectations for a profit of 98 cents per share.\nTesla said operating income rose with volume growth and cost reduction, which offset higher supply chain costs, lower regulatory credit revenue and other items including $23 million in losses on investment in cryptocurrency bitcoin.\nTesla’s profitability has often relied on selling regulatory credits to other automakers, but in the second quarter, Tesla was profitable without these credits for the first time since the end of 2019. Its GAAP net income was $1.14 billion in the second quarter. Revenue from the credits only totaled $354 million.\n“Tesla impressed with its numbers, as most of its revenue came from vehicle sales,” Jesse Cohen, senior analyst at Investing.com, said.\nCarmaker Stellantis expects to achieve its European carbon dioxide (CO2) emissions targets this year without environmental credits bought from Tesla.\nTesla said it said it has delayed the launch of the Semi truck program to 2022 to focus on starting factories and due to limited availability of battery cells and other parts this year.\nBut the company’s new 4680 batteries are not ready for volume production; executives said it was difficult to predict when technological challenges would be resolved.\nIn an aside, Musk said he “most likely will not be on earnings calls” going forward to discuss financial results with investors and analysts. These calls have been a colorful quarterly ritual Musk has used for discourses on Tesla technology, or to fire back at rivals or critics.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":289,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}