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2021-08-10

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2021-08-10

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Investment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬——消息人士</blockquote>

2021-08-10

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2021-08-10

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2021-08-10

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2021-08-10

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2021-08-05

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2021-08-05

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2021-08-05

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Airline shares, Carnival stocks rally in morning trading<blockquote>航空股、嘉年华股早盘上涨</blockquote>

2021-08-05

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2021-08-03

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2021-08-03

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The rising AMD is getting aggressive<blockquote>崛起的AMD越来越咄咄逼人</blockquote>

2021-08-03

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Alibaba EPS beats by RMB2.27, misses on revenue<blockquote>阿里巴巴-SW每股收益超过预期人民币2.27元、营收不及预期</blockquote>

2021-08-03

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2021-07-31

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2021-07-31

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This eye-catching divergence in the stock market is a warning against complacency<blockquote>股市这种引人注目的背离是对自满的警告</blockquote>

2021-07-31

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2021-07-31

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2021-07-29

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2021-07-29

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Musk confirms Tesla AI Day will be on August 19<blockquote>马斯克确认特斯拉AI Day将于8月19日</blockquote>

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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/896013983","repostId":"1128238834","repostType":4,"repost":{"id":"1128238834","kind":"news","pubTimestamp":1628521549,"share":"https://www.laohu8.com/m/news/1128238834?lang=zh_CN&edition=full","pubTime":"2021-08-09 23:05","market":"us","language":"en","title":"Investment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬——消息人士</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128238834","media":"Reuters","summary":"Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for it","content":"<p>Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for its bankers, a source close to the matter said on Monday, mirroring a pay-scale trend by other Wall Street lenders.</p><p><blockquote>路透8月9日-一位知情人士周一表示，投资银行杰富瑞金融集团(Jefferies Financial Group Inc)大幅提高了银行家的薪资，这反映了其他华尔街银行的薪资趋势。</blockquote></p><p> The bank’s first-year analysts in the United States will now earn $110,000 annually, up from $85,000. Second-year analysts will make $125,000 per year, up from $90,000, said the source, who was not authorized to speak publicly on the matter and asked for anonymity.</p><p><blockquote>该银行在美国的第一年分析师现在的年薪将从85,000美元提高到11万美元。该消息人士称，二年级分析师的年薪将从9万美元增至12.5万美元。该消息人士无权就此事公开发言，并要求匿名。</blockquote></p><p> Salaries of associates were raised to $150,000 from $125,000, the source added.</p><p><blockquote>消息人士补充说，员工的工资从12.5万美元提高到15万美元。</blockquote></p><p> The new pay scale, which was reported earlier in the day by the Wall Street Journal, has been in effect since July 1 and follows similar moves by major Wall Street firms to attract and retain top talent as dealmaking activity continues at an unprecedented pace.</p><p><blockquote>《华尔街日报》当天早些时候报道了新的薪酬标准，该标准自7月1日起生效，此前华尔街主要公司也采取了类似举措，以吸引和留住顶尖人才，因为交易活动继续以前所未有的速度进行。</blockquote></p><p> Banks have also been introducing incentives to younger staff after a group of first-year analysts at Goldman Sachs Group Inc complained of long hours and “unrealistic deadlines” in an internal survey in March.</p><p><blockquote>高盛集团(Goldman Sachs Group Inc.)的一组一年级分析师在三月份的一项内部调查中抱怨工作时间长和“不切实际的最后期限”后，银行也一直在向年轻员工提供激励措施。</blockquote></p><p> Citigroup Inc, Morgan Stanley, UBS Group AG , and Lazard Ltd have also raised pay for their bankers.</p><p><blockquote>花旗集团、摩根士丹利、瑞银集团和拉扎德有限公司也提高了银行家的薪酬。</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>Investment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬——消息人士</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\">\nInvestment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬——消息人士</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-08-09 23:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for its bankers, a source close to the matter said on Monday, mirroring a pay-scale trend by other Wall Street lenders.</p><p><blockquote>路透8月9日-一位知情人士周一表示，投资银行杰富瑞金融集团(Jefferies Financial Group Inc)大幅提高了银行家的薪资，这反映了其他华尔街银行的薪资趋势。</blockquote></p><p> The bank’s first-year analysts in the United States will now earn $110,000 annually, up from $85,000. Second-year analysts will make $125,000 per year, up from $90,000, said the source, who was not authorized to speak publicly on the matter and asked for anonymity.</p><p><blockquote>该银行在美国的第一年分析师现在的年薪将从85,000美元提高到11万美元。该消息人士称，二年级分析师的年薪将从9万美元增至12.5万美元。该消息人士无权就此事公开发言，并要求匿名。</blockquote></p><p> Salaries of associates were raised to $150,000 from $125,000, the source added.</p><p><blockquote>消息人士补充说，员工的工资从12.5万美元提高到15万美元。</blockquote></p><p> The new pay scale, which was reported earlier in the day by the Wall Street Journal, has been in effect since July 1 and follows similar moves by major Wall Street firms to attract and retain top talent as dealmaking activity continues at an unprecedented pace.</p><p><blockquote>《华尔街日报》当天早些时候报道了新的薪酬标准，该标准自7月1日起生效，此前华尔街主要公司也采取了类似举措，以吸引和留住顶尖人才，因为交易活动继续以前所未有的速度进行。</blockquote></p><p> Banks have also been introducing incentives to younger staff after a group of first-year analysts at Goldman Sachs Group Inc complained of long hours and “unrealistic deadlines” in an internal survey in March.</p><p><blockquote>高盛集团(Goldman Sachs Group Inc.)的一组一年级分析师在三月份的一项内部调查中抱怨工作时间长和“不切实际的最后期限”后，银行也一直在向年轻员工提供激励措施。</blockquote></p><p> Citigroup Inc, Morgan Stanley, UBS Group AG , and Lazard Ltd have also raised pay for their bankers.</p><p><blockquote>花旗集团、摩根士丹利、瑞银集团和拉扎德有限公司也提高了银行家的薪酬。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/jefferies-analyst-compensation/investment-bank-jefferies-raises-pay-for-analysts-source-idUSL4N2PG2U4\">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":{"GS":"高盛"},"source_url":"https://www.reuters.com/article/jefferies-analyst-compensation/investment-bank-jefferies-raises-pay-for-analysts-source-idUSL4N2PG2U4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128238834","content_text":"Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for its bankers, a source close to the matter said on Monday, mirroring a pay-scale trend by other Wall Street lenders.\nThe bank’s first-year analysts in the United States will now earn $110,000 annually, up from $85,000. Second-year analysts will make $125,000 per year, up from $90,000, said the source, who was not authorized to speak publicly on the matter and asked for anonymity.\nSalaries of associates were raised to $150,000 from $125,000, the source added.\nThe new pay scale, which was reported earlier in the day by the Wall Street Journal, has been in effect since July 1 and follows similar moves by major Wall Street firms to attract and retain top talent as dealmaking activity continues at an unprecedented pace.\nBanks have also been introducing incentives to younger staff after a group of first-year analysts at Goldman Sachs Group Inc complained of long hours and “unrealistic deadlines” in an internal survey in March.\nCitigroup Inc, Morgan Stanley, UBS Group AG , and Lazard Ltd have also raised pay for their 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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/896019242","repostId":"896032938","repostType":1,"isVote":1,"tweetType":1,"viewCount":1475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899692701,"gmtCreate":1628176587203,"gmtModify":1631891267938,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment&nbsp;","listText":"Please like this comment&nbsp;","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/899692701","repostId":"1197602353","repostType":4,"isVote":1,"tweetType":1,"viewCount":2025,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899692877,"gmtCreate":1628176575999,"gmtModify":1631891267949,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment&nbsp;","listText":"Please like this comment&nbsp;","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/899692877","repostId":"2157430168","repostType":4,"isVote":1,"tweetType":1,"viewCount":1288,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899696412,"gmtCreate":1628176562936,"gmtModify":1631891267959,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment&nbsp;","listText":"Please like this comment&nbsp;","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/899696412","repostId":"1117772028","repostType":4,"repost":{"id":"1117772028","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":1628174192,"share":"https://www.laohu8.com/m/news/1117772028?lang=zh_CN&edition=full","pubTime":"2021-08-05 22:36","market":"us","language":"en","title":"Airline shares, Carnival stocks rally in morning trading<blockquote>航空股、嘉年华股早盘上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117772028","media":"Tiger Newspress","summary":"(Aug&nbsp;5)&nbsp;Airline shares, Carnival stocks&nbsp;rally&nbsp;in&nbsp;morning&nbsp;trading.","content":"<p>(Aug&nbsp;5)&nbsp;Airline shares, Carnival stocks&nbsp;rally&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>（8月5日）航空股、嘉年华股早盘上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/42a38b66aa352091811cb924ece1b676\" tg-width=\"374\" tg-height=\"366\" 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>Airline shares, Carnival stocks rally in morning trading<blockquote>航空股、嘉年华股早盘上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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; 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#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\">\nAirline shares, Carnival stocks rally in morning trading<blockquote>航空股、嘉年华股早盘上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-05 22:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug&nbsp;5)&nbsp;Airline shares, Carnival stocks&nbsp;rally&nbsp;in&nbsp;morning&nbsp;trading.</p><p><blockquote>（8月5日）航空股、嘉年华股早盘上涨。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/42a38b66aa352091811cb924ece1b676\" tg-width=\"374\" tg-height=\"366\" 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":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117772028","content_text":"(Aug 5) Airline shares, Carnival stocks rally in morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899696072,"gmtCreate":1628176551096,"gmtModify":1631891267973,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment&nbsp;","listText":"Please like this comment&nbsp;","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/899696072","repostId":"2157458815","repostType":4,"isVote":1,"tweetType":1,"viewCount":1625,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807018105,"gmtCreate":1627988548507,"gmtModify":1631892560134,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/807018105","repostId":"1138232884","repostType":4,"isVote":1,"tweetType":1,"viewCount":606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807018046,"gmtCreate":1627988534785,"gmtModify":1631892560146,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807018046","repostId":"1109177267","repostType":4,"repost":{"id":"1109177267","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":1627987064,"share":"https://www.laohu8.com/m/news/1109177267?lang=zh_CN&edition=full","pubTime":"2021-08-03 18:37","market":"us","language":"en","title":"The rising AMD is getting aggressive<blockquote>崛起的AMD越来越咄咄逼人</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109177267","media":"Tiger Newspress","summary":"Advanced Micro Devices reported its revenues and earnings for the second quarter ended June 30 excee","content":"<p>Advanced Micro Devices reported its revenues and earnings for the second quarter ended June 30 exceeded expectations, with revenue growing 99% to $3.85 billion.</p><p><blockquote>Advanced Micro Devices报告称，截至6月30日的第二季度收入和盈利超出预期，收入增长99%至38.5亿美元。</blockquote></p><p> Non-GAAP net income for the quarter was $778 million, or 63 cents a share, beating expectations of 54 cents a share on a non-GAAP basis. AMD said it was increasing its annual earnings forecast.</p><p><blockquote>该季度非GAAP净利润为7.78亿美元，即每股63美分，超出非GAAP每股54美分的预期。AMD表示，正在上调年度盈利预期。</blockquote></p><p> The Santa Clara, California-based company has had a good run on momentum behind its Zen and Zen 2 architectures for processors, which can generate 50% or more better performance per clock cycle than the previous generation. This architecture put AMD ahead of Intel in performance for the first time in a decade, and it has helped the perennial No. 2 PC chip maker into a fast-growing contender against Intel.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的公司在其Zen和Zen 2处理器架构背后取得了良好的发展势头，与上一代相比，每个时钟周期的性能可以提高50%或更多。这种架构使AMD十年来首次在性能上领先于英特尔，并帮助这家常年排名第二的PC芯片制造商成为与英特尔快速增长的竞争者。</blockquote></p><p> Intel, meanwhile, has had stumbles not only on the chip design side but also in manufacturing, where it has lost its technological advantage to rivals such as TSMC, which makes both processors and graphics chips for AMD. As a result, AMD has been making historic market share gains for the past three years. What’s interesting is AMD has been making these gains amid a historic chip shortage driven by the supply whipsaw from the pandemic and unprecedented demand for electronic goods.</p><p><blockquote>与此同时，英特尔不仅在芯片设计方面，而且在制造方面也遇到了挫折，其技术优势被台积电等竞争对手夺走，台积电为AMD生产处理器和图形芯片。因此，AMD在过去三年中取得了历史性的市场份额增长。有趣的是，AMD是在疫情造成的供应冲击和对电子产品前所未有的需求导致历史性芯片短缺的情况下取得这些收益的。</blockquote></p><p> “Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” AMD CEO Lisa Su said in a statement. “We are growing significantly faster than the market with strong demand across all of our businesses. We now expect our 2021 annual revenue to grow by approximately 60% year-over-year driven by strong execution and increased customer preference for our leadership products.”</p><p><blockquote>AMD首席执行官苏姿丰在一份声明中表示：“我们的业务在第二季度表现异常出色，收入和营业利润率同比翻了一番，盈利能力同比增长了两倍多。”“我们的增长速度明显快于市场，我们所有业务的需求都很强劲。我们现在预计，在强有力的执行力和客户对我们领导产品偏好增加的推动下，我们2021年收入将同比增长约60%。”</blockquote></p><p> Intel, meanwhile, is doubling down on its manufacturing investments as a way to stay competitive and take advantage of the chip boom and supply shortage.</p><p><blockquote>与此同时，英特尔正在加倍加大制造投资，以保持竞争力并利用芯片繁荣和供应短缺的机会。</blockquote></p><p> <h4>Quarterly financial segment summary</h4> Computing and graphics segment revenue was $2.25 billion, up 65% year-over-year and 7% quarter-over-quarter driven by higher client and graphics processor sales. Client processor average selling price (ASP) grew year-over-year and quarter-over-quarter driven by a richer mix of Ryzen desktop and notebook processor sales. It was the fifth straight quarter of record processor revenue.</p><p><blockquote><h4>季度财务分部摘要</h4>在客户端和图形处理器销售额增长的推动下，计算和图形部门收入为22.5亿美元，同比增长65%，环比增长7%。在锐龙台式机和笔记本处理器销售组合更加丰富的推动下，客户端处理器平均售价（ASP）同比和环比增长。这是连续第五个季度创纪录的处理器收入。</blockquote></p><p> Graphics processing unit (GPU) ASP grew year-over-year and quarter-over-quarter driven by high-end graphics product sales, including datacenter GPU sales. Operating income was $526 million, compared to $200 million a year ago and $485 million in the prior quarter. The increases were primarily driven by higher revenue.</p><p><blockquote>在包括数据中心GPU销售在内的高端图形产品销售的推动下，图形处理单元（GPU）ASP同比和环比增长。营业收入为5.26亿美元，去年同期为2亿美元，上一季度为4.85亿美元。增长主要是由收入增加推动的。</blockquote></p><p> Enterprise, embedded, and semi-custom segment revenue was $1.6 billion, up 183% year-over-year and 19% quarter-over-quarter. The increases were driven by higher Epyc processor revenue and semi-custom product sales. The semi-custom products include processors for the PlayStation 5 and Xbox Series X/S game consoles.</p><p><blockquote>企业、嵌入式和半定制部门收入为16亿美元，同比增长183%，环比增长19%。这一增长是由Epyc处理器收入和半定制产品销售的增加推动的。半定制产品包括PlayStation 5和Xbox Series X/S游戏机的处理器。</blockquote></p><p> <h4>Optimistic Revenue Outlook on Strong Demand</h4> AMD gave a bullish third-quarter sales forecast, indicating it’s gaining market share from Intel Corp. in the lucrative market for server chips.</p><p><blockquote><h4>强劲需求带来乐观的收入前景</h4>AMD给出了乐观的第三季度销售预测，表明它正在利润丰厚的服务器芯片市场上从英特尔公司手中夺取市场份额。</blockquote></p><p> AMD, the second-largest maker of computer processors behind Intel, predicted third-quarter revenue will be about $4.1 billion, plus or minus $100 million. On average, analysts had projected revenue of $3.8 billion. The company also raised its annual outlook and now expects revenue to increase by 60% up from a previous forecast for 50% growth.</p><p><blockquote>AMD是仅次于英特尔的第二大计算机处理器制造商，预计第三季度营收约为41亿美元，正负1亿美元。分析师平均预计营收为38亿美元。该公司还上调了年度预期，目前预计收入将比之前预测的50%增长增长60%。</blockquote></p><p> Chief Executive Officer Lisa Su has brought the company back from the brink of irrelevance with a raft of new products that customers see as competitive with Intel’s offerings for the first time in years. Investors have poured money into AMD’s stock over the last five years, expecting Su’s changes to result in higher market share and earnings.</p><p><blockquote>首席执行官苏姿丰凭借一系列新产品将公司从无关紧要的边缘拉了回来，客户多年来首次认为这些产品与英特尔的产品具有竞争力。过去五年，投资者纷纷向AMD股票投入资金，预计苏的变化将带来更高的市场份额和收益。</blockquote></p><p> “We are growing significantly faster than the market with strong demand across all of our businesses,” Su said in a statement.</p><p><blockquote>苏在一份声明中表示：“我们的增长速度明显快于市场，我们所有业务的需求都很强劲。”</blockquote></p><p> AMD’s earnings report Tuesday indicates the company is taking market share at Intel’s expense. Intel, the world’s largest superconductor manufacturer, reported a 6% decline in second-quarter revenue. AMD also competes with Nvidia Corp. in the market for graphics processors used in cards for gaming personal computers.</p><p><blockquote>AMD周二的收益报告表明，该公司正在以牺牲英特尔的利益为代价夺取市场份额。全球最大超导体制造商英特尔公布第二季度营收下降6%。AMD还在游戏个人电脑卡中使用的图形处理器市场上与英伟达公司竞争。</blockquote></p><p> Su said the company can continue to grow, even if PC demand falls in 2022. “We expect our competition to be really good and we need to be better than that,” Su said during a conference call after the results.</p><p><blockquote>Su表示，即使2022年PC需求下降，该公司也可以继续增长。“我们希望我们的竞争非常激烈，我们需要做得更好，”苏在结果公布后的电话会议上表示。</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>The rising AMD is getting aggressive<blockquote>崛起的AMD越来越咄咄逼人</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\">\nThe rising AMD is getting aggressive<blockquote>崛起的AMD越来越咄咄逼人</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\">2021-08-03 18:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Advanced Micro Devices reported its revenues and earnings for the second quarter ended June 30 exceeded expectations, with revenue growing 99% to $3.85 billion.</p><p><blockquote>Advanced Micro Devices报告称，截至6月30日的第二季度收入和盈利超出预期，收入增长99%至38.5亿美元。</blockquote></p><p> Non-GAAP net income for the quarter was $778 million, or 63 cents a share, beating expectations of 54 cents a share on a non-GAAP basis. AMD said it was increasing its annual earnings forecast.</p><p><blockquote>该季度非GAAP净利润为7.78亿美元，即每股63美分，超出非GAAP每股54美分的预期。AMD表示，正在上调年度盈利预期。</blockquote></p><p> The Santa Clara, California-based company has had a good run on momentum behind its Zen and Zen 2 architectures for processors, which can generate 50% or more better performance per clock cycle than the previous generation. This architecture put AMD ahead of Intel in performance for the first time in a decade, and it has helped the perennial No. 2 PC chip maker into a fast-growing contender against Intel.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的公司在其Zen和Zen 2处理器架构背后取得了良好的发展势头，与上一代相比，每个时钟周期的性能可以提高50%或更多。这种架构使AMD十年来首次在性能上领先于英特尔，并帮助这家常年排名第二的PC芯片制造商成为与英特尔快速增长的竞争者。</blockquote></p><p> Intel, meanwhile, has had stumbles not only on the chip design side but also in manufacturing, where it has lost its technological advantage to rivals such as TSMC, which makes both processors and graphics chips for AMD. As a result, AMD has been making historic market share gains for the past three years. What’s interesting is AMD has been making these gains amid a historic chip shortage driven by the supply whipsaw from the pandemic and unprecedented demand for electronic goods.</p><p><blockquote>与此同时，英特尔不仅在芯片设计方面，而且在制造方面也遇到了挫折，其技术优势被台积电等竞争对手夺走，台积电为AMD生产处理器和图形芯片。因此，AMD在过去三年中取得了历史性的市场份额增长。有趣的是，AMD是在疫情造成的供应冲击和对电子产品前所未有的需求导致历史性芯片短缺的情况下取得这些收益的。</blockquote></p><p> “Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” AMD CEO Lisa Su said in a statement. “We are growing significantly faster than the market with strong demand across all of our businesses. We now expect our 2021 annual revenue to grow by approximately 60% year-over-year driven by strong execution and increased customer preference for our leadership products.”</p><p><blockquote>AMD首席执行官苏姿丰在一份声明中表示：“我们的业务在第二季度表现异常出色，收入和营业利润率同比翻了一番，盈利能力同比增长了两倍多。”“我们的增长速度明显快于市场，我们所有业务的需求都很强劲。我们现在预计，在强有力的执行力和客户对我们领导产品偏好增加的推动下，我们2021年收入将同比增长约60%。”</blockquote></p><p> Intel, meanwhile, is doubling down on its manufacturing investments as a way to stay competitive and take advantage of the chip boom and supply shortage.</p><p><blockquote>与此同时，英特尔正在加倍加大制造投资，以保持竞争力并利用芯片繁荣和供应短缺的机会。</blockquote></p><p> <h4>Quarterly financial segment summary</h4> Computing and graphics segment revenue was $2.25 billion, up 65% year-over-year and 7% quarter-over-quarter driven by higher client and graphics processor sales. Client processor average selling price (ASP) grew year-over-year and quarter-over-quarter driven by a richer mix of Ryzen desktop and notebook processor sales. It was the fifth straight quarter of record processor revenue.</p><p><blockquote><h4>季度财务分部摘要</h4>在客户端和图形处理器销售额增长的推动下，计算和图形部门收入为22.5亿美元，同比增长65%，环比增长7%。在锐龙台式机和笔记本处理器销售组合更加丰富的推动下，客户端处理器平均售价（ASP）同比和环比增长。这是连续第五个季度创纪录的处理器收入。</blockquote></p><p> Graphics processing unit (GPU) ASP grew year-over-year and quarter-over-quarter driven by high-end graphics product sales, including datacenter GPU sales. Operating income was $526 million, compared to $200 million a year ago and $485 million in the prior quarter. The increases were primarily driven by higher revenue.</p><p><blockquote>在包括数据中心GPU销售在内的高端图形产品销售的推动下，图形处理单元（GPU）ASP同比和环比增长。营业收入为5.26亿美元，去年同期为2亿美元，上一季度为4.85亿美元。增长主要是由收入增加推动的。</blockquote></p><p> Enterprise, embedded, and semi-custom segment revenue was $1.6 billion, up 183% year-over-year and 19% quarter-over-quarter. The increases were driven by higher Epyc processor revenue and semi-custom product sales. The semi-custom products include processors for the PlayStation 5 and Xbox Series X/S game consoles.</p><p><blockquote>企业、嵌入式和半定制部门收入为16亿美元，同比增长183%，环比增长19%。这一增长是由Epyc处理器收入和半定制产品销售的增加推动的。半定制产品包括PlayStation 5和Xbox Series X/S游戏机的处理器。</blockquote></p><p> <h4>Optimistic Revenue Outlook on Strong Demand</h4> AMD gave a bullish third-quarter sales forecast, indicating it’s gaining market share from Intel Corp. in the lucrative market for server chips.</p><p><blockquote><h4>强劲需求带来乐观的收入前景</h4>AMD给出了乐观的第三季度销售预测，表明它正在利润丰厚的服务器芯片市场上从英特尔公司手中夺取市场份额。</blockquote></p><p> AMD, the second-largest maker of computer processors behind Intel, predicted third-quarter revenue will be about $4.1 billion, plus or minus $100 million. On average, analysts had projected revenue of $3.8 billion. The company also raised its annual outlook and now expects revenue to increase by 60% up from a previous forecast for 50% growth.</p><p><blockquote>AMD是仅次于英特尔的第二大计算机处理器制造商，预计第三季度营收约为41亿美元，正负1亿美元。分析师平均预计营收为38亿美元。该公司还上调了年度预期，目前预计收入将比之前预测的50%增长增长60%。</blockquote></p><p> Chief Executive Officer Lisa Su has brought the company back from the brink of irrelevance with a raft of new products that customers see as competitive with Intel’s offerings for the first time in years. Investors have poured money into AMD’s stock over the last five years, expecting Su’s changes to result in higher market share and earnings.</p><p><blockquote>首席执行官苏姿丰凭借一系列新产品将公司从无关紧要的边缘拉了回来，客户多年来首次认为这些产品与英特尔的产品具有竞争力。过去五年，投资者纷纷向AMD股票投入资金，预计苏的变化将带来更高的市场份额和收益。</blockquote></p><p> “We are growing significantly faster than the market with strong demand across all of our businesses,” Su said in a statement.</p><p><blockquote>苏在一份声明中表示：“我们的增长速度明显快于市场，我们所有业务的需求都很强劲。”</blockquote></p><p> AMD’s earnings report Tuesday indicates the company is taking market share at Intel’s expense. Intel, the world’s largest superconductor manufacturer, reported a 6% decline in second-quarter revenue. AMD also competes with Nvidia Corp. in the market for graphics processors used in cards for gaming personal computers.</p><p><blockquote>AMD周二的收益报告表明，该公司正在以牺牲英特尔的利益为代价夺取市场份额。全球最大超导体制造商英特尔公布第二季度营收下降6%。AMD还在游戏个人电脑卡中使用的图形处理器市场上与英伟达公司竞争。</blockquote></p><p> Su said the company can continue to grow, even if PC demand falls in 2022. “We expect our competition to be really good and we need to be better than that,” Su said during a conference call after the results.</p><p><blockquote>Su表示，即使2022年PC需求下降，该公司也可以继续增长。“我们希望我们的竞争非常激烈，我们需要做得更好，”苏在结果公布后的电话会议上表示。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMD":"美国超微公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109177267","content_text":"Advanced Micro Devices reported its revenues and earnings for the second quarter ended June 30 exceeded expectations, with revenue growing 99% to $3.85 billion.\nNon-GAAP net income for the quarter was $778 million, or 63 cents a share, beating expectations of 54 cents a share on a non-GAAP basis. AMD said it was increasing its annual earnings forecast.\nThe Santa Clara, California-based company has had a good run on momentum behind its Zen and Zen 2 architectures for processors, which can generate 50% or more better performance per clock cycle than the previous generation. This architecture put AMD ahead of Intel in performance for the first time in a decade, and it has helped the perennial No. 2 PC chip maker into a fast-growing contender against Intel.\nIntel, meanwhile, has had stumbles not only on the chip design side but also in manufacturing, where it has lost its technological advantage to rivals such as TSMC, which makes both processors and graphics chips for AMD. As a result, AMD has been making historic market share gains for the past three years. What’s interesting is AMD has been making these gains amid a historic chip shortage driven by the supply whipsaw from the pandemic and unprecedented demand for electronic goods.\n“Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” AMD CEO Lisa Su said in a statement. “We are growing significantly faster than the market with strong demand across all of our businesses. We now expect our 2021 annual revenue to grow by approximately 60% year-over-year driven by strong execution and increased customer preference for our leadership products.”\nIntel, meanwhile, is doubling down on its manufacturing investments as a way to stay competitive and take advantage of the chip boom and supply shortage.\nQuarterly financial segment summary\nComputing and graphics segment revenue was $2.25 billion, up 65% year-over-year and 7% quarter-over-quarter driven by higher client and graphics processor sales. Client processor average selling price (ASP) grew year-over-year and quarter-over-quarter driven by a richer mix of Ryzen desktop and notebook processor sales. It was the fifth straight quarter of record processor revenue.\nGraphics processing unit (GPU) ASP grew year-over-year and quarter-over-quarter driven by high-end graphics product sales, including datacenter GPU sales. Operating income was $526 million, compared to $200 million a year ago and $485 million in the prior quarter. The increases were primarily driven by higher revenue.\nEnterprise, embedded, and semi-custom segment revenue was $1.6 billion, up 183% year-over-year and 19% quarter-over-quarter. The increases were driven by higher Epyc processor revenue and semi-custom product sales. The semi-custom products include processors for the PlayStation 5 and Xbox Series X/S game consoles.\nOptimistic Revenue Outlook on Strong Demand\nAMD gave a bullish third-quarter sales forecast, indicating it’s gaining market share from Intel Corp. in the lucrative market for server chips.\nAMD, the second-largest maker of computer processors behind Intel, predicted third-quarter revenue will be about $4.1 billion, plus or minus $100 million. On average, analysts had projected revenue of $3.8 billion. The company also raised its annual outlook and now expects revenue to increase by 60% up from a previous forecast for 50% growth.\nChief Executive Officer Lisa Su has brought the company back from the brink of irrelevance with a raft of new products that customers see as competitive with Intel’s offerings for the first time in years. Investors have poured money into AMD’s stock over the last five years, expecting Su’s changes to result in higher market share and earnings.\n“We are growing significantly faster than the market with strong demand across all of our businesses,” Su said in a statement.\nAMD’s earnings report Tuesday indicates the company is taking market share at Intel’s expense. Intel, the world’s largest superconductor manufacturer, reported a 6% decline in second-quarter revenue. AMD also competes with Nvidia Corp. in the market for graphics processors used in cards for gaming personal computers.\nSu said the company can continue to grow, even if PC demand falls in 2022. “We expect our competition to be really good and we need to be better than that,” Su said during a conference call after the results.","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":424,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807011226,"gmtCreate":1627988520865,"gmtModify":1631892560164,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807011226","repostId":"1169635195","repostType":4,"repost":{"id":"1169635195","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":1627988246,"share":"https://www.laohu8.com/m/news/1169635195?lang=zh_CN&edition=full","pubTime":"2021-08-03 18:57","market":"hk","language":"en","title":"Alibaba EPS beats by RMB2.27, misses on revenue<blockquote>阿里巴巴-SW每股收益超过预期人民币2.27元、营收不及预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169635195","media":"Tiger Newspress","summary":" $Alibaba$ posted financial result in premarket, which showed that:. Alibaba Q1 revenue RMB205.74 bln vs. RMB153.75 bln a year ago; FactSet consensus RMB209.11 bln.Alibaba Q1 adj. EPS RMB16.60 vs. RMB14.82 a year ago; FactSet consensus RMB14.33.Revenue was RMB205,740 million , an increase of 34% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 22% year-over-year to RMB187,306 million .Annual active consumersof the Alibaba Ecosystem across the world reached app","content":"<p>(August 3)&nbsp;<a href=\"https://laohu8.com/S/BABA\">Alibaba</a> posted&nbsp;financial&nbsp;result&nbsp;in&nbsp;premarket,&nbsp;which&nbsp;showed&nbsp;that:</p><p><blockquote>（8月3日）<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>盘前公布的财务业绩显示：</blockquote></p><p> Alibaba Q1 revenue RMB205.74 bln vs. RMB153.75 bln a year ago; FactSet consensus RMB209.11 bln.</p><p><blockquote>阿里巴巴-SW第一季度营收为人民币2057.4亿元，去年同期为人民币1537.5亿元；FactSet共识为人民币2091.1亿元。</blockquote></p><p> Alibaba Q1 adj. EPS RMB16.60 vs. RMB14.82 a year ago; FactSet consensus RMB14.33.</p><p><blockquote>阿里巴巴-SW第一季度调整后。每股收益为人民币16.60元，去年同期为人民币14.82元；FactSet共识人民币14.33元。</blockquote></p><p> <b>BUSINESS HIGHLIGHTS</b></p><p><blockquote><b>业务亮点</b></blockquote></p><p> <b>In the quarter ended June 30, 2021:</b></p><p><blockquote><b>截至2021年6月30日的季度：</b></blockquote></p><p> <ul>  <li><b>Revenue</b>&nbsp;was RMB205,740 million (US$31,865 million), an increase of 34% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 22% year-over-year to RMB187,306 million (US$29,010 million).</li>  <li><b>Annual active consumers</b>of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended June 30, 2021, an increase of 45 million from the twelve months ended March 31, 2021. This includes 912 million consumers in China1and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.</li>  <li><b>Income from operations</b>&nbsp;was RMB30,847 million (US$4,778 million), a decrease of 11% year-over-year.<b>Adjusted EBITDA</b>, a non-GAAP measurement, decreased 5% year-over-year to RMB48,628 million (US$7,532 million).<b>Adjusted EBITA</b>, a non-GAAP measurement, decreased 8% year-over-year to RMB41,731 million (US$6,463 million). The year-over-year decreases were primarily due to our investments in strategic areas to capture incremental opportunities, such as Community Marketplaces, Taobao Deals, Local Consumer Services and Lazada, as well as our increased spending on growth initiatives within China retail marketplaces, such as Idle Fish and Taobao Live, and our support to merchants.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;was RMB45,141 million (US$6,991 million),and<b>net income</b>was RMB42,835 million (US$6,634 million).<b>Non-GAAP net income</b>&nbsp;was RMB43,441 million (US$6,728 million), an increase of 10% year-over-year, mainly due to an increase in share of profit of equity method investees.</li>  <li><b>Diluted earnings per ADS</b>&nbsp;was RMB16.38 (US$2.54) and<b>diluted earnings per share</b>was RMB2.05 (US$0.32 or HK$2.46).<b>Non-GAAP diluted earnings per ADS</b>was RMB16.60 (US$2.57), an increase of 12% year-over-year and<b>non-GAAP diluted earnings per share</b>was RMB2.08 (US$0.32 or HK$2.50), an increase of 12% year-over-year.</li>  <li><b>Net cashprovided by operating activities</b>&nbsp;was RMB33,603 million (US$5,204 million).<b>Non-GAAP free cash flow</b>was RMB20,683 million (US$3,203 million), a decrease compared to RMB36,570 million in the same quarter of 2020, mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million fine levied earlier this year by China’s State Administration for Market Regulation pursuant to China’s Anti-monopoly Law (the “Anti-monopoly Fine”) and a decrease in profit as a result of our investments in key strategic areas.</li> </ul> <img src=\"https://static.tigerbbs.com/11aa08a1ccb4f80e6867c7e7631297c8\" tg-width=\"719\" tg-height=\"863\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>收入</b>为人民币2,057.40百万元（318.65亿美元），同比增长34%。如果不包括合并高鑫，我们的收入将同比增长22%至人民币1,873.06亿元（290.1亿美元）。</li><li><b>年度活跃消费者</b>截至2021年6月30日止十二个月，全球阿里巴巴-SW生态系统的总用户数达到约11.8亿，较截至2021年3月31日止十二个月增加4500万。这包括Lazada、全球速卖通、Trendyol和Daraz服务的中国9.12亿消费者1和海外2.65亿消费者。</li><li><b>营业收入</b>为人民币308.47亿元（47.78亿美元），同比下降11%。<b>调整后EBITDA</b>根据非公认会计准则衡量，同比下降5%至人民币486.28亿元（75.32亿美元）。<b>调整后EBITA</b>根据非公认会计准则衡量，同比下降8%至人民币417.31亿元（64.63亿美元）。同比下降主要是由于我们在战略领域的投资以捕捉增量机会，例如社区市场、淘宝交易、本地消费者服务和Lazada，以及我们在中国零售市场增长计划上的支出增加，例如闲鱼和淘宝直播，以及我们对商家的支持。</li><li><b>归属于普通股股东的净利润</b>为人民币451.41亿元（69.91亿美元），及<b>净收入</b>为人民币428.35亿元（66.34亿美元）。<b>非公认会计准则净利润</b>为人民币434.41亿元（67.28亿美元），同比增长10%，主要是由于权益法被投资方利润份额增加。</li><li><b>每股美国存托凭证摊薄收益</b>为人民币16.38元（2.54美元）<b>每股摊薄盈利</b>为人民币2.05元（0.32美元或2.46港元）。<b>非公认会计准则每股美国存托凭证摊薄收益</b>为人民币16.60元（2.57美元），同比增长12%<b>非公认会计准则稀释每股收益</b>为人民币2.08元（0.32美元或2.50港元），同比增长12%。</li><li><b>经营活动提供的现金净额</b>为人民币336.03亿元（52.04亿美元）。<b>非公认会计准则自由现金流</b>为人民币206.83亿元（32.03亿美元），较2020年同季度的人民币365.70亿元有所下降，主要是由于部分结清了今年早些时候中国国家市场监督管理总局根据中国反垄断法征收的人民币182.28亿元罚款（“反垄断法罚款”）中的人民币91.14亿元（14.12亿美元）以及我们在关键战略领域的投资导致利润减少。</li></ul></blockquote></p><p> <b>China Retail Marketplaces</b></p><p><blockquote><b>中国零售市场</b></blockquote></p><p> In June 2021, Alibaba's China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million.</p><p><blockquote>2021年6月，阿里巴巴-SW中国零售市场的移动月活跃用户数为9.39亿，季度净增1400万。</blockquote></p><p> <b>Cloud Computing</b></p><p><blockquote><b>云计算</b></blockquote></p><p> In the June 2021 quarter, our cloud computing revenue grew 29% year-over-year to RMB16,051 million (US$2,486 million), primarily driven by robust growth in revenue from customers in the Internet, financial services and retail industries.</p><p><blockquote>2021年6月季度，我们的云计算收入同比增长29%至人民币160.51亿元（24.86亿美元），主要得益于互联网、金融服务和零售行业客户收入的强劲增长。</blockquote></p><p> <b>Cash Flow from Operating Activities and Free Cash Flow</b></p><p><blockquote><b>经营活动产生的现金流量和自由现金流量</b></blockquote></p><p> In the quarter ended June 30, 2021, net cash provided by operating activities was RMB33,603 million (US$5,204 million), a decrease compared to RMB50,099 million in the same quarter of 2020. Free cash flow, a non-GAAP measurement of liquidity, decreased to RMB20,683 million (US$3,203 million), from RMB36,570 million in the same quarter of 2020. The year-over-year decreases were mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million Anti-monopoly Fine and a decrease in profit as a result of our investments in key strategic areas. A reconciliation of net cash provided by operating activities to free cash flow is included at the end of this results announcement.</p><p><blockquote>截至2021年6月30日的季度，经营活动提供的净现金为人民币336.03亿元（52.04亿美元），较2020年同季度的人民币500.99亿元有所下降。自由现金流（衡量流动性的非公认会计准则衡量标准）从2020年同季度的人民币365.7亿元下降至人民币206.83亿元（32.03亿美元）。同比下降主要是由于部分和解了人民币182.28亿元的反垄断罚款中的人民币91.14亿元（14.12亿美元），以及我们在关键战略领域的投资导致利润减少。经营活动提供的净现金与自由现金流的调节表包含在本业绩公告的末尾。</blockquote></p><p> <b>Increasing Share Repurchases</b></p><p><blockquote><b>增加股票回购</b></blockquote></p><p> Since April 1, 2021 and through the publication of this results announcement, we repurchased approximately 18.1 million of our ADSs (the equivalent of approximately 144.5 million of our ordinary shares) for approximately US$3,680 million under our share repurchase program. In addition, on August 2, 2021, our board of directors authorized the Company to upsize our Company's share repurchase program from US$10 billion to US$15 billion. This share repurchase program will be effective through the end of 2022.</p><p><blockquote>自2021年4月1日起及透过刊发本业绩公告，我们根据股份回购计划以约36.8亿美元回购约18.1百万股美国存讬股（相当于约144.5百万股普通股）。此外，2021年8月2日，我们的董事会授权公司将我们公司的股票回购计划规模从100亿美元扩大到150亿美元。该股票回购计划将于2022年底生效。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/58bf53593de78f5f6e4fa1096d7aae94\" tg-width=\"757\" tg-height=\"793\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”</p><p><blockquote>我们正在将股票回购计划从100亿美元增加到150亿美元，这是公司历史上最大的股票回购计划，因为我们对我们的长期增长前景充满信心。我们的净现金状况仍然强劲，自2021年4月1日以来，我们已回购了约37亿美元的ADS。”</blockquote></p><p> In June 2021, our China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million. We continue to increase penetration in less-developed areas, reflecting our success in broadening product offerings to meet diverse consumer demand.</p><p><blockquote>2021年6月，我们的中国零售市场拥有9.39亿移动月活跃用户数，季度净增1400万。我们继续提高在欠发达地区的渗透率，反映我们在扩大产品供应以满足多样化消费者需求方面取得的成功。</blockquote></p><p> “Alibaba started the new fiscal year by delivering a healthy quarter. For the June quarter, global annual active consumers across the Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the March quarter, which includes 912 million consumers in China. Over more than twenty years of growth, we have developed a company that spans across both consumer and industrial Internet, with multiple engines driving our long-term growth,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “We believe in the growth of the Chinese economy and long-term value creation of Alibaba, and we will continue to strengthen our technology advantage in improving the consumer experience and helping our enterprise customers to accomplish successful digital transformations.”</p><p><blockquote>张勇集团董事长兼首席执行官阿里巴巴-SW表示：“阿里巴巴-SW以健康的季度开局新财年。在6月季度，阿里巴巴-SW生态系统的全球年度活跃消费者达到11.8亿，比3月季度增加了4500万，其中包括9.12亿中国消费者。经过二十多年的增长，我们已经发展出一家横跨消费互联网和工业互联网的公司，多个引擎推动我们的长期增长。”“我们相信中国经济的增长和阿里巴巴-SW的长期价值创造，我们将继续加强我们在改善消费者体验和帮助企业客户成功完成数字化转型方面的技术优势。”</blockquote></p><p> “We delivered strong revenue growth of 34% year-over-year. As we said in last quarter's results announcement, we are investing our excess profits and additional capital to support our merchants and invest in strategic areas to better serve customers and penetrate into new addressable markets,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”</p><p><blockquote>“我们实现了34%的强劲收入增长。正如我们在上季度业绩公告中所说，我们正在投资超额利润和额外资本来支持我们的商家，并投资于战略领域，以更好地服务客户并渗透到新的潜在市场，”阿里巴巴-SW集团首席财务官Maggie Wu表示。“我们正在将股票回购计划从100亿美元增加到150亿美元，这是公司历史上最大的股票回购计划，因为我们对我们的长期增长前景充满信心。我们的净现金状况仍然强劲，自2021年4月1日以来，我们已经回购了约37亿美元的ADS。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba EPS beats by RMB2.27, misses on revenue<blockquote>阿里巴巴-SW每股收益超过预期人民币2.27元、营收不及预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba EPS beats by RMB2.27, misses on revenue<blockquote>阿里巴巴-SW每股收益超过预期人民币2.27元、营收不及预期</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\">2021-08-03 18:57</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(August 3)&nbsp;<a href=\"https://laohu8.com/S/BABA\">Alibaba</a> posted&nbsp;financial&nbsp;result&nbsp;in&nbsp;premarket,&nbsp;which&nbsp;showed&nbsp;that:</p><p><blockquote>（8月3日）<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>盘前公布的财务业绩显示：</blockquote></p><p> Alibaba Q1 revenue RMB205.74 bln vs. RMB153.75 bln a year ago; FactSet consensus RMB209.11 bln.</p><p><blockquote>阿里巴巴-SW第一季度营收为人民币2057.4亿元，去年同期为人民币1537.5亿元；FactSet共识为人民币2091.1亿元。</blockquote></p><p> Alibaba Q1 adj. EPS RMB16.60 vs. RMB14.82 a year ago; FactSet consensus RMB14.33.</p><p><blockquote>阿里巴巴-SW第一季度调整后。每股收益为人民币16.60元，去年同期为人民币14.82元；FactSet共识人民币14.33元。</blockquote></p><p> <b>BUSINESS HIGHLIGHTS</b></p><p><blockquote><b>业务亮点</b></blockquote></p><p> <b>In the quarter ended June 30, 2021:</b></p><p><blockquote><b>截至2021年6月30日的季度：</b></blockquote></p><p> <ul>  <li><b>Revenue</b>&nbsp;was RMB205,740 million (US$31,865 million), an increase of 34% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 22% year-over-year to RMB187,306 million (US$29,010 million).</li>  <li><b>Annual active consumers</b>of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended June 30, 2021, an increase of 45 million from the twelve months ended March 31, 2021. This includes 912 million consumers in China1and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.</li>  <li><b>Income from operations</b>&nbsp;was RMB30,847 million (US$4,778 million), a decrease of 11% year-over-year.<b>Adjusted EBITDA</b>, a non-GAAP measurement, decreased 5% year-over-year to RMB48,628 million (US$7,532 million).<b>Adjusted EBITA</b>, a non-GAAP measurement, decreased 8% year-over-year to RMB41,731 million (US$6,463 million). The year-over-year decreases were primarily due to our investments in strategic areas to capture incremental opportunities, such as Community Marketplaces, Taobao Deals, Local Consumer Services and Lazada, as well as our increased spending on growth initiatives within China retail marketplaces, such as Idle Fish and Taobao Live, and our support to merchants.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;was RMB45,141 million (US$6,991 million),and<b>net income</b>was RMB42,835 million (US$6,634 million).<b>Non-GAAP net income</b>&nbsp;was RMB43,441 million (US$6,728 million), an increase of 10% year-over-year, mainly due to an increase in share of profit of equity method investees.</li>  <li><b>Diluted earnings per ADS</b>&nbsp;was RMB16.38 (US$2.54) and<b>diluted earnings per share</b>was RMB2.05 (US$0.32 or HK$2.46).<b>Non-GAAP diluted earnings per ADS</b>was RMB16.60 (US$2.57), an increase of 12% year-over-year and<b>non-GAAP diluted earnings per share</b>was RMB2.08 (US$0.32 or HK$2.50), an increase of 12% year-over-year.</li>  <li><b>Net cashprovided by operating activities</b>&nbsp;was RMB33,603 million (US$5,204 million).<b>Non-GAAP free cash flow</b>was RMB20,683 million (US$3,203 million), a decrease compared to RMB36,570 million in the same quarter of 2020, mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million fine levied earlier this year by China’s State Administration for Market Regulation pursuant to China’s Anti-monopoly Law (the “Anti-monopoly Fine”) and a decrease in profit as a result of our investments in key strategic areas.</li> </ul> <img src=\"https://static.tigerbbs.com/11aa08a1ccb4f80e6867c7e7631297c8\" tg-width=\"719\" tg-height=\"863\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>收入</b>为人民币2,057.40百万元（318.65亿美元），同比增长34%。如果不包括合并高鑫，我们的收入将同比增长22%至人民币1,873.06亿元（290.1亿美元）。</li><li><b>年度活跃消费者</b>截至2021年6月30日止十二个月，全球阿里巴巴-SW生态系统的总用户数达到约11.8亿，较截至2021年3月31日止十二个月增加4500万。这包括Lazada、全球速卖通、Trendyol和Daraz服务的中国9.12亿消费者1和海外2.65亿消费者。</li><li><b>营业收入</b>为人民币308.47亿元（47.78亿美元），同比下降11%。<b>调整后EBITDA</b>根据非公认会计准则衡量，同比下降5%至人民币486.28亿元（75.32亿美元）。<b>调整后EBITA</b>根据非公认会计准则衡量，同比下降8%至人民币417.31亿元（64.63亿美元）。同比下降主要是由于我们在战略领域的投资以捕捉增量机会，例如社区市场、淘宝交易、本地消费者服务和Lazada，以及我们在中国零售市场增长计划上的支出增加，例如闲鱼和淘宝直播，以及我们对商家的支持。</li><li><b>归属于普通股股东的净利润</b>为人民币451.41亿元（69.91亿美元），及<b>净收入</b>为人民币428.35亿元（66.34亿美元）。<b>非公认会计准则净利润</b>为人民币434.41亿元（67.28亿美元），同比增长10%，主要是由于权益法被投资方利润份额增加。</li><li><b>每股美国存托凭证摊薄收益</b>为人民币16.38元（2.54美元）<b>每股摊薄盈利</b>为人民币2.05元（0.32美元或2.46港元）。<b>非公认会计准则每股美国存托凭证摊薄收益</b>为人民币16.60元（2.57美元），同比增长12%<b>非公认会计准则稀释每股收益</b>为人民币2.08元（0.32美元或2.50港元），同比增长12%。</li><li><b>经营活动提供的现金净额</b>为人民币336.03亿元（52.04亿美元）。<b>非公认会计准则自由现金流</b>为人民币206.83亿元（32.03亿美元），较2020年同季度的人民币365.70亿元有所下降，主要是由于部分结清了今年早些时候中国国家市场监督管理总局根据中国反垄断法征收的人民币182.28亿元罚款（“反垄断法罚款”）中的人民币91.14亿元（14.12亿美元）以及我们在关键战略领域的投资导致利润减少。</li></ul></blockquote></p><p> <b>China Retail Marketplaces</b></p><p><blockquote><b>中国零售市场</b></blockquote></p><p> In June 2021, Alibaba's China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million.</p><p><blockquote>2021年6月，阿里巴巴-SW中国零售市场的移动月活跃用户数为9.39亿，季度净增1400万。</blockquote></p><p> <b>Cloud Computing</b></p><p><blockquote><b>云计算</b></blockquote></p><p> In the June 2021 quarter, our cloud computing revenue grew 29% year-over-year to RMB16,051 million (US$2,486 million), primarily driven by robust growth in revenue from customers in the Internet, financial services and retail industries.</p><p><blockquote>2021年6月季度，我们的云计算收入同比增长29%至人民币160.51亿元（24.86亿美元），主要得益于互联网、金融服务和零售行业客户收入的强劲增长。</blockquote></p><p> <b>Cash Flow from Operating Activities and Free Cash Flow</b></p><p><blockquote><b>经营活动产生的现金流量和自由现金流量</b></blockquote></p><p> In the quarter ended June 30, 2021, net cash provided by operating activities was RMB33,603 million (US$5,204 million), a decrease compared to RMB50,099 million in the same quarter of 2020. Free cash flow, a non-GAAP measurement of liquidity, decreased to RMB20,683 million (US$3,203 million), from RMB36,570 million in the same quarter of 2020. The year-over-year decreases were mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million Anti-monopoly Fine and a decrease in profit as a result of our investments in key strategic areas. A reconciliation of net cash provided by operating activities to free cash flow is included at the end of this results announcement.</p><p><blockquote>截至2021年6月30日的季度，经营活动提供的净现金为人民币336.03亿元（52.04亿美元），较2020年同季度的人民币500.99亿元有所下降。自由现金流（衡量流动性的非公认会计准则衡量标准）从2020年同季度的人民币365.7亿元下降至人民币206.83亿元（32.03亿美元）。同比下降主要是由于部分和解了人民币182.28亿元的反垄断罚款中的人民币91.14亿元（14.12亿美元），以及我们在关键战略领域的投资导致利润减少。经营活动提供的净现金与自由现金流的调节表包含在本业绩公告的末尾。</blockquote></p><p> <b>Increasing Share Repurchases</b></p><p><blockquote><b>增加股票回购</b></blockquote></p><p> Since April 1, 2021 and through the publication of this results announcement, we repurchased approximately 18.1 million of our ADSs (the equivalent of approximately 144.5 million of our ordinary shares) for approximately US$3,680 million under our share repurchase program. In addition, on August 2, 2021, our board of directors authorized the Company to upsize our Company's share repurchase program from US$10 billion to US$15 billion. This share repurchase program will be effective through the end of 2022.</p><p><blockquote>自2021年4月1日起及透过刊发本业绩公告，我们根据股份回购计划以约36.8亿美元回购约18.1百万股美国存讬股（相当于约144.5百万股普通股）。此外，2021年8月2日，我们的董事会授权公司将我们公司的股票回购计划规模从100亿美元扩大到150亿美元。该股票回购计划将于2022年底生效。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/58bf53593de78f5f6e4fa1096d7aae94\" tg-width=\"757\" tg-height=\"793\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”</p><p><blockquote>我们正在将股票回购计划从100亿美元增加到150亿美元，这是公司历史上最大的股票回购计划，因为我们对我们的长期增长前景充满信心。我们的净现金状况仍然强劲，自2021年4月1日以来，我们已回购了约37亿美元的ADS。”</blockquote></p><p> In June 2021, our China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million. We continue to increase penetration in less-developed areas, reflecting our success in broadening product offerings to meet diverse consumer demand.</p><p><blockquote>2021年6月，我们的中国零售市场拥有9.39亿移动月活跃用户数，季度净增1400万。我们继续提高在欠发达地区的渗透率，反映我们在扩大产品供应以满足多样化消费者需求方面取得的成功。</blockquote></p><p> “Alibaba started the new fiscal year by delivering a healthy quarter. For the June quarter, global annual active consumers across the Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the March quarter, which includes 912 million consumers in China. Over more than twenty years of growth, we have developed a company that spans across both consumer and industrial Internet, with multiple engines driving our long-term growth,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “We believe in the growth of the Chinese economy and long-term value creation of Alibaba, and we will continue to strengthen our technology advantage in improving the consumer experience and helping our enterprise customers to accomplish successful digital transformations.”</p><p><blockquote>张勇集团董事长兼首席执行官阿里巴巴-SW表示：“阿里巴巴-SW以健康的季度开局新财年。在6月季度，阿里巴巴-SW生态系统的全球年度活跃消费者达到11.8亿，比3月季度增加了4500万，其中包括9.12亿中国消费者。经过二十多年的增长，我们已经发展出一家横跨消费互联网和工业互联网的公司，多个引擎推动我们的长期增长。”“我们相信中国经济的增长和阿里巴巴-SW的长期价值创造，我们将继续加强我们在改善消费者体验和帮助企业客户成功完成数字化转型方面的技术优势。”</blockquote></p><p> “We delivered strong revenue growth of 34% year-over-year. As we said in last quarter's results announcement, we are investing our excess profits and additional capital to support our merchants and invest in strategic areas to better serve customers and penetrate into new addressable markets,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”</p><p><blockquote>“我们实现了34%的强劲收入增长。正如我们在上季度业绩公告中所说，我们正在投资超额利润和额外资本来支持我们的商家，并投资于战略领域，以更好地服务客户并渗透到新的潜在市场，”阿里巴巴-SW集团首席财务官Maggie Wu表示。“我们正在将股票回购计划从100亿美元增加到150亿美元，这是公司历史上最大的股票回购计划，因为我们对我们的长期增长前景充满信心。我们的净现金状况仍然强劲，自2021年4月1日以来，我们已经回购了约37亿美元的ADS。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169635195","content_text":"(August 3) Alibaba posted financial result in premarket, which showed that:\nAlibaba Q1 revenue RMB205.74 bln vs. RMB153.75 bln a year ago; FactSet consensus RMB209.11 bln.\nAlibaba Q1 adj. EPS RMB16.60 vs. RMB14.82 a year ago; FactSet consensus RMB14.33.\nBUSINESS HIGHLIGHTS\nIn the quarter ended June 30, 2021:\n\nRevenue was RMB205,740 million (US$31,865 million), an increase of 34% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 22% year-over-year to RMB187,306 million (US$29,010 million).\nAnnual active consumersof the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended June 30, 2021, an increase of 45 million from the twelve months ended March 31, 2021. This includes 912 million consumers in China1and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.\nIncome from operations was RMB30,847 million (US$4,778 million), a decrease of 11% year-over-year.Adjusted EBITDA, a non-GAAP measurement, decreased 5% year-over-year to RMB48,628 million (US$7,532 million).Adjusted EBITA, a non-GAAP measurement, decreased 8% year-over-year to RMB41,731 million (US$6,463 million). The year-over-year decreases were primarily due to our investments in strategic areas to capture incremental opportunities, such as Community Marketplaces, Taobao Deals, Local Consumer Services and Lazada, as well as our increased spending on growth initiatives within China retail marketplaces, such as Idle Fish and Taobao Live, and our support to merchants.\nNet income attributable to ordinary shareholders was RMB45,141 million (US$6,991 million),andnet incomewas RMB42,835 million (US$6,634 million).Non-GAAP net income was RMB43,441 million (US$6,728 million), an increase of 10% year-over-year, mainly due to an increase in share of profit of equity method investees.\nDiluted earnings per ADS was RMB16.38 (US$2.54) anddiluted earnings per sharewas RMB2.05 (US$0.32 or HK$2.46).Non-GAAP diluted earnings per ADSwas RMB16.60 (US$2.57), an increase of 12% year-over-year andnon-GAAP diluted earnings per sharewas RMB2.08 (US$0.32 or HK$2.50), an increase of 12% year-over-year.\nNet cashprovided by operating activities was RMB33,603 million (US$5,204 million).Non-GAAP free cash flowwas RMB20,683 million (US$3,203 million), a decrease compared to RMB36,570 million in the same quarter of 2020, mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million fine levied earlier this year by China’s State Administration for Market Regulation pursuant to China’s Anti-monopoly Law (the “Anti-monopoly Fine”) and a decrease in profit as a result of our investments in key strategic areas.\n\n\nChina Retail Marketplaces\nIn June 2021, Alibaba's China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million.\nCloud Computing\nIn the June 2021 quarter, our cloud computing revenue grew 29% year-over-year to RMB16,051 million (US$2,486 million), primarily driven by robust growth in revenue from customers in the Internet, financial services and retail industries.\nCash Flow from Operating Activities and Free Cash Flow\nIn the quarter ended June 30, 2021, net cash provided by operating activities was RMB33,603 million (US$5,204 million), a decrease compared to RMB50,099 million in the same quarter of 2020. Free cash flow, a non-GAAP measurement of liquidity, decreased to RMB20,683 million (US$3,203 million), from RMB36,570 million in the same quarter of 2020. The year-over-year decreases were mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million Anti-monopoly Fine and a decrease in profit as a result of our investments in key strategic areas. A reconciliation of net cash provided by operating activities to free cash flow is included at the end of this results announcement.\nIncreasing Share Repurchases\nSince April 1, 2021 and through the publication of this results announcement, we repurchased approximately 18.1 million of our ADSs (the equivalent of approximately 144.5 million of our ordinary shares) for approximately US$3,680 million under our share repurchase program. In addition, on August 2, 2021, our board of directors authorized the Company to upsize our Company's share repurchase program from US$10 billion to US$15 billion. This share repurchase program will be effective through the end of 2022.\n\nWe are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”\nIn June 2021, our China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million. We continue to increase penetration in less-developed areas, reflecting our success in broadening product offerings to meet diverse consumer demand.\n“Alibaba started the new fiscal year by delivering a healthy quarter. For the June quarter, global annual active consumers across the Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the March quarter, which includes 912 million consumers in China. Over more than twenty years of growth, we have developed a company that spans across both consumer and industrial Internet, with multiple engines driving our long-term growth,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “We believe in the growth of the Chinese economy and long-term value creation of Alibaba, and we will continue to strengthen our technology advantage in improving the consumer experience and helping our enterprise customers to accomplish successful digital transformations.”\n“We delivered strong revenue growth of 34% year-over-year. As we said in last quarter's results announcement, we are investing our excess profits and additional capital to support our merchants and invest in strategic areas to better serve customers and penetrate into new addressable markets,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807011811,"gmtCreate":1627988478133,"gmtModify":1631892560173,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment&nbsp;","listText":"Please like this comment&nbsp;","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/807011811","repostId":"804599419","repostType":1,"isVote":1,"tweetType":1,"viewCount":407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806500299,"gmtCreate":1627662253811,"gmtModify":1631892560183,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806500299","repostId":"2155159451","repostType":4,"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806500863,"gmtCreate":1627662241552,"gmtModify":1631892560198,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806500863","repostId":"1198838390","repostType":4,"repost":{"id":"1198838390","kind":"news","pubTimestamp":1627656767,"share":"https://www.laohu8.com/m/news/1198838390?lang=zh_CN&edition=full","pubTime":"2021-07-30 22:52","market":"us","language":"en","title":"This eye-catching divergence in the stock market is a warning against complacency<blockquote>股市这种引人注目的背离是对自满的警告</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1198838390","media":"MarketWatch","summary":"S&P 500’s core outlook remains bullish\nGETTY IMAGES\nThe S&P 500 index is performing at a far differe","content":"<p>S&amp;P 500’s core outlook remains bullish</p><p><blockquote>标普500的核心前景仍然看涨</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a9a9d5fb12a2f91c146699e5be54c5c\" tg-width=\"700\" tg-height=\"473\" 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> The S&amp;P 500 index is performing at a far different rate than the “average” stock. This has been going on for a while and is not necessarily a bull market “killer,” but it is certainly not the healthiest of environments.</p><p><blockquote>标普500指数的表现与“平均”股票截然不同。这种情况已经持续了一段时间，不一定是牛市“杀手”，但肯定不是最健康的环境。</blockquote></p><p> The S&amp;P,the NASDAQ-100&nbsp;and the Dow Jones Industrial Average&nbsp;are all at or near all-time highs. But the Russell 2000 is lagging behind, reflective of the poor internal strength of the overall market. The internal measurements show fairly heavy put buying, poor breadth on many days, and even more new 52-week lows than new highs.</p><p><blockquote>标准普尔指数、纳斯达克100指数和道琼斯工业平均指数均处于或接近历史高点。但罗素2000指数落后，反映出整体市场内功不佳。内部测量显示看跌期权买盘相当多，多日广度较差，52周新低甚至多于新高。</blockquote></p><p> What is propelling SPX and the narrow-based indexes is a relatively small number of large-cap tech stocks.</p><p><blockquote>推动SPX和窄基指数的是数量相对较少的大型科技股。</blockquote></p><p> Similar stories have unfolded many times in the past – some with dire market results and some not so bad. But it is extremely difficult to keep a bull market going with the majority of stocks lagging behind.</p><p><blockquote>类似的故事在过去已经发生过很多次——有些市场结果很糟糕，有些则没有那么糟糕。但在大多数股票都落后的情况下，维持牛市是极其困难的。</blockquote></p><p> Two rather notable, but certainly not recent, occurrences were 1) the “Nifty Fifty” stocks of 1973 that seemed to “defy gravity” and kept going up while the rest of the market was stumbling; eventually that situation deteriorated into a raging bear market in 1974, and 2) the “stealth bear market” of 1994, where small-caps went down for most of the year, yet SPX was essentially flat during that time; there never<i>was</i>much of a decline in that index until an unrelated scandal (the Orange County debacle) took it down briefly late in the year.</p><p><blockquote>两个相当值得注意的事件，但肯定不是最近发生的，是1)1973年的“漂亮五十”股票，它们似乎“无视地心引力”，在市场其他部分跌跌撞撞的情况下继续上涨；最终，这种情况恶化为1974年的熊市，以及2）1994年的“隐形熊市”，小盘股在这一年的大部分时间里都在下跌，但SPX在此期间基本持平；从来没有<i>什么</i>该指数大幅下跌，直到年底一场不相关的丑闻（奥兰治县灾难）导致该指数短暂下跌。</blockquote></p><p> This situation is not irreversible. It could “right” itself if breadth were to improve. That is still a possibility.</p><p><blockquote>这种情况并非不可逆转。如果广度提高，它可以“纠正”自己。这仍然是一种可能性。</blockquote></p><p> The SPX chart is still in a bullish mode, as it is rising and above support. There is minor support at this week’s lows, near 4370. Then there is more important support below that at 4233 (the July lows). As long as SPX remains above that level, the chart will still have a bullish appearance. Further support levels at 4160 and 4060 were well-tested, but are so far below current levels as to be of little use.</p><p><blockquote>SPX图表仍处于看涨模式，因为它正在上涨并高于支撑位。本周低点4370附近有小幅支撑。然后在4233点（7月低点）下方有更重要的支撑。只要SPX保持在该水平之上，图表仍将呈现看涨的外观。4160点和4060点的进一步支撑位经过了很好的测试，但远低于当前水平，用处不大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/033187b97fbfadb4f302aff6d1e0e8c6\" tg-width=\"699\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> As noted on the accompanying SPX chart, a McMillan Volatility Band (MVB) sell signal is place (green “S” on the upper right of the chart). In addition, there is now a realized volatility sell signal in place, too, as the S&amp;P’s 20-day historical volatility has risen above 11%.</p><p><blockquote>如随附的SPX图表所示，发出麦克米兰波动带(MVB)卖出信号（图表右上角的绿色“S”）。此外，随着标准普尔指数20天历史波动率已升至11%以上，现在也出现了已实现的波动性卖出信号。</blockquote></p><p> Equity-only put-call ratios remain on sell signals, as they are still rising. This is indicative of relatively heavy put buying over the past month. As one can see from the accompanying charts, the standard ratio is rising faster than the weighted ratio – but both are rising.</p><p><blockquote>仅股票的看跌看涨期权比率仍处于卖出信号，因为它们仍在上升。这表明过去一个月看跌期权买盘相对较多。从附图中可以看出，标准比率的上升速度快于加权比率，但两者都在上升。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/94f1634f122ad3efa266cde27ddd8599\" tg-width=\"699\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/786b9a1f7118e239186772ceb365b513\" tg-width=\"699\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> Breadth has been the most prominent indicator of the internal troubles that the current market is experiencing. It has been negative on many days when SPX was making new all-time highs. As a result, our breadth oscillators are lagging behind the market. Yes, they are on buy signals, but are nowhere near the positive levels that one would expect to see with the NASDAQ-100, S&amp;P 500 and Dow industrials at or near their highs.</p><p><blockquote>广度一直是当前市场正在经历的内部问题的最突出指标。当SPX创下历史新高时，它已经连续多天为负值。因此，我们的广度振荡器落后于市场。是的，它们发出了买入信号，但远未达到纳斯达克100指数、标普500指数和道琼斯工业指数处于或接近高点时预期的积极水平。</blockquote></p><p> There was one small ray of improvement here on Wednesday, though, when the broad market was flat-to-down on the day, yet breadth was positive. We have not seen that much recently, but if it should continue, that would be bullish for stocks.</p><p><blockquote>不过，周三有一丝小幅改善，当天大盘持平至下跌，但广度是积极的。我们最近没有看到那么多，但如果这种情况继续下去，这将对股市有利。</blockquote></p><p> The cumulative breadth oscillators continue to lag, and that is the “official” measure of a negative divergence. The cumulative breadth indicators made new all-time highs on 10 of 13 trading days leading up to and including June 11. Since then, they have not made a single new all-time high. Meanwhile, SPX has made new all-time highs on 13 separate trading days since that date.<i>That</i>is a negative divergence.</p><p><blockquote>累积宽度振荡器继续滞后，这是负背离的“官方”衡量标准。截至6月11日（含6月11日）的13个交易日中，累计宽度指标有10个创下历史新高。从那以后，他们没有创下一个新的历史新高。与此同时，自该日以来，SPX已连续13个交易日创下历史新高。<i>那个</i>是负背离。</blockquote></p><p> It can be overcome by an improvement in the cumulative breadth indicators – something which was accomplished earlier this year. But, for now, this negative divergence remains as a warning sign to stay alert and not become complacent.</p><p><blockquote>这可以通过改进累积宽度指标来克服——这是今年早些时候完成的。但是，就目前而言，这种负面分歧仍然是一个警告信号，需要保持警惕，不要自满。</blockquote></p><p></p><p> Over the past week, new 52-weeks lows were more numerous than new 52-week highs in terms of NASDAQ data and in terms of “stocks only” data. However, it is the NYSE that we use for our indicator, and new highs managed to cling to a narrow lead over new lows there. Thus, this indicator – while weakening – is still in a bullish state.</p><p><blockquote>过去一周，就纳斯达克数据和“仅股票”数据而言，52周新低多于52周新高。然而，我们使用纽约证券交易所作为指标，新高设法保持对新低的微弱领先。因此，该指标虽然走弱，但仍处于看涨状态。</blockquote></p><p> The one area of the market that has not shown these negative tendencies is implied volatility – VIX&nbsp;and its trading products. The VIX “spike peak” buy signal of July 20 is still in place. In fact, there has been a continuous “spike peak” buy signal in place since May 21, except for two trading days. Moreover, the trend of VIX remains downward as the 200-day moving average is still declining, and it is well above the VIX 20-day moving average.</p><p><blockquote>市场中没有表现出这些负面趋势的一个领域是隐含波动率——VIX及其交易产品。7月20日的VIX“峰值”买入信号仍然存在。事实上，自5月21日以来，除了两个交易日外，一直存在连续的“尖峰”买入信号。此外，由于200日移动平均线仍在下降，VIX的趋势仍然向下，并且远高于VIX 20日移动平均线。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/647dc26baa4fe92b852e1a1585a5cc18\" tg-width=\"700\" tg-height=\"527\" referrerpolicy=\"no-referrer\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> The construct of volatility derivatives remains positive for stocks. The front-month August VIX futures are trading at a rather large premium to VIX, and the VIX futures term structure slopes upward. Also, the CBOE Volatility Indices term structure slopes upward. These add up to a bullish scenario for stocks. Any danger for the broad market would be signaled by the August VIX futures trading at a higher price than the September VIX futures, but that it is not imminent.</p><p><blockquote>波动性衍生品的结构仍然对股票有利。近月8月VIX期货的交易价格相对于VIX有相当大的溢价，VIX期货期限结构向上倾斜。此外，芝加哥期权交易所波动率指数期限结构向上倾斜。这些加起来对股市来说是一个看涨的情景。8月份VIX期货的交易价格高于9月份VIX期货，这将表明大盘面临任何危险，但这种危险并非迫在眉睫。</blockquote></p><p> So, the “core” outlook for the market remains bullish due to the trends of SPX and VIX. Yes, the internals are warning against complacency, so we can take sell signals against this “core” bullish position, but as long as SPX remains above support at 4233, the bulls remain in charge.</p><p><blockquote>因此，由于SPX和VIX的趋势，市场的“核心”前景仍然看涨。是的，内部人士警告不要自满，因此我们可以针对这个“核心”看涨位置发出卖出信号，但只要SPX保持在4233点的支撑位之上，多头仍然占据主导地位。</blockquote></p><p> <b>New Recommendation: D.R. Horton</b></p><p><blockquote><b>新建议：D.R。霍顿</b></blockquote></p><p> D.R. HortonDHI,+0.50%has a new buy signal from its put-call ratio chart, but we want that to be confirmed by an upside breakout as well. From the chart below, one can see the local maximum at an extremely high level on the put-call ratio chart (the green “B”), and that is an example of extreme pessimism toward this stock, even though its pullback since the beginning of May has not been all that steep.</p><p><blockquote>D.R.HortonDHI,+0.50%从其看跌-看涨期权比率图表中发出了新的买入信号，但我们希望这也能得到上行突破的证实。从下图中，人们可以看到看跌-看涨期权比率图上的局部最大值处于极高的水平（绿色“B”），这是对该股极度悲观的一个例子，尽管它自5月初以来的回调并没有那么陡峭。</blockquote></p><p> Put-call ratio signals are contrary in nature, so if the public is extremely pessimistic, we want to be optimistic. That would materialize in the form of a call buy, but only if DHI can close above resistance at 93.</p><p><blockquote>看跌-看涨期权比率信号本质上是相反的，因此如果公众极度悲观，我们希望保持乐观。这将以看涨期权买入的形式实现，但前提是DHI能够收于93阻力位上方。</blockquote></p><p> <b>IF DHI closes above 93,</b></p><p><blockquote><b>如果DHI收于93上方，</b></blockquote></p><p> <b>THEN buy 2 DHI Sept (17th) 92.5 calls</b></p><p><blockquote><b>然后买2 DHI 9月（17日）92.5评级</b></blockquote></p><p> DHI is currently trading above 93, but we want to see it close there before taking a long call position.</p><p><blockquote>DHI目前的交易价格高于93，但我们希望在建立多头看涨期权头寸之前看到它接近93。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/006888c3a8db8d4a3ffa406ebfc2b2e1\" tg-width=\"700\" tg-height=\"528\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米兰</blockquote></p><p> That is the only new recommendation. There has not been a lot of takeover rumor activity recently except for<b>Cerner Corp.</b>CERN,+1.38%However, we only recently exited a position in Cerner, as the takeover rumors had been around so long that they extended beyond the length of the expiration date of our calls.</p><p><blockquote>这是唯一的新建议。最近没有太多的收购传闻活动，除了<b>塞尔纳公司。</b>CERN，+1.38%然而，我们最近才退出了Cerner的头寸，因为收购传闻已经存在很长时间，以至于超出了我们评级的到期日。</blockquote></p><p> <b>Follow-up action</b></p><p><blockquote><b>后续行动</b></blockquote></p><p> <b><i>All stops are mental closing stops unless otherwise noted.</i></b></p><p><blockquote><b><i>除非另有说明，所有停止都是精神关闭停止。</i></b></blockquote></p><p> <b>Long 3 DUK Aug (20th) 100 calls:</b>Raise the trailing stop to 102.</p><p><blockquote><b>龙3杜克8月（20日）100评级：</b>将尾随止动件提升至102。</blockquote></p><p> <b>Long 4 DBX Aug (13th) 30.5 calls:</b>Raise the trailing stop to 30.20.</p><p><blockquote><b>长4 DBX 8月（13日）30.5评级：</b>将跟踪止损提高至30.20。</blockquote></p><p> <b>Long 1 RAPT Aug (20th) 30 call:</b>The stop yourself remains at 26.</p><p><blockquote><b>Long 1 Rapt 8月20日30日看涨期权：</b>你自己的止损点保持在26。</blockquote></p><p> <b>Long 1 SPY Aug (20th) 431 call:</b>This position was bought in line with the VIX “spike peak” buy signal of July 20. Continue to hold for 22 days from that date. The position would be stopped out if VIX were to rise 3.00 points or more within any three-day period, using closing prices. If it is stopped out, then re-enter with an at-the-money call on the ensuing buy signal.</p><p><blockquote><b>龙1 SPDR标普500指数ETF 8月（20日）431看涨期权：</b>该头寸是根据7月20日VIX“尖峰”买入信号买入的。自该日起继续持有22天。如果VIX在任何三天内上涨3.00点或以上，则使用收盘价，该头寸将被止损。如果止损，则在随后的买入信号中以平价看涨期权重新入场。</blockquote></p><p> <b>Long 2 HOLX Sept (17th) 65 calls:</b>Raise the trailing stop yourself to 68. Furthermore, if the stop trades at 75, then roll up to the<b>Sept (17th) 75 calls.</b></p><p><blockquote><b>Long 2 HOLX 9月（17日）65评级：</b>自己将跟踪止损提高到68。此外，如果止损点交易在75，则向上滚动至<b>75年9月17日评级。</b></blockquote></p><p> <b>Long 1 SPY Aug (20th) 433 put and short 1 SPY Aug (20th) 408 put:</b>This spread was bought in line with the equity-only put-call ratio sell signals. Those sell signals are still in place, so continue to hold this spread. We will update the situation weekly.</p><p><blockquote><b>多头1 SPDR标普500指数ETF 8月（20日）433看跌空头1 SPDR标普500指数ETF 8月（20日）408看跌：</b>该价差是根据仅股票的看跌看涨期权比率卖出信号买入的。那些卖出信号仍然存在，所以继续持有这个价差。我们将每周更新情况。</blockquote></p><p> <b>Long 0 AVCT Aug (20th) 5 calls:</b>These calls were stopped out when American Virtual Cloud TechnologiesAVCT,-1.30%closed below 5 on July 26. The stock had begun to weaken on news of debt reduction and then fell sharply after the company filed to sell more shares.</p><p><blockquote><b>长0 AVCT 8月（20日）5评级：</b>当美国虚拟云技术公司AVCT,-1.30%于7月26日收盘低于5时，这些评级被停止。该股因债务削减的消息而开始走弱，然后在该公司申请出售更多股票后大幅下跌。</blockquote></p><p> <b>Long 5 STAR Aug (20th) 22.5 calls:</b>Raise the stop to 22.20.</p><p><blockquote><b>龙5星8月（20日）22.5评级：</b>将止损提高到22.20。</blockquote></p><p> <b>Long 5 MGI Aug (20th) 10 calls:</b>Hold this position without a stop initially to see if a takeover bid can materialize.</p><p><blockquote><b>长5华大智造8月（20日）10评级：</b>最初不间断地持有该头寸，看看收购要约是否能够实现。</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>This eye-catching divergence in the stock market is a warning against complacency<blockquote>股市这种引人注目的背离是对自满的警告</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis eye-catching divergence in the stock market is a warning against complacency<blockquote>股市这种引人注目的背离是对自满的警告</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-30 22:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>S&amp;P 500’s core outlook remains bullish</p><p><blockquote>标普500的核心前景仍然看涨</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a9a9d5fb12a2f91c146699e5be54c5c\" tg-width=\"700\" tg-height=\"473\" 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> The S&amp;P 500 index is performing at a far different rate than the “average” stock. This has been going on for a while and is not necessarily a bull market “killer,” but it is certainly not the healthiest of environments.</p><p><blockquote>标普500指数的表现与“平均”股票截然不同。这种情况已经持续了一段时间，不一定是牛市“杀手”，但肯定不是最健康的环境。</blockquote></p><p> The S&amp;P,the NASDAQ-100&nbsp;and the Dow Jones Industrial Average&nbsp;are all at or near all-time highs. But the Russell 2000 is lagging behind, reflective of the poor internal strength of the overall market. The internal measurements show fairly heavy put buying, poor breadth on many days, and even more new 52-week lows than new highs.</p><p><blockquote>标准普尔指数、纳斯达克100指数和道琼斯工业平均指数均处于或接近历史高点。但罗素2000指数落后，反映出整体市场内功不佳。内部测量显示看跌期权买盘相当多，多日广度较差，52周新低甚至多于新高。</blockquote></p><p> What is propelling SPX and the narrow-based indexes is a relatively small number of large-cap tech stocks.</p><p><blockquote>推动SPX和窄基指数的是数量相对较少的大型科技股。</blockquote></p><p> Similar stories have unfolded many times in the past – some with dire market results and some not so bad. But it is extremely difficult to keep a bull market going with the majority of stocks lagging behind.</p><p><blockquote>类似的故事在过去已经发生过很多次——有些市场结果很糟糕，有些则没有那么糟糕。但在大多数股票都落后的情况下，维持牛市是极其困难的。</blockquote></p><p> Two rather notable, but certainly not recent, occurrences were 1) the “Nifty Fifty” stocks of 1973 that seemed to “defy gravity” and kept going up while the rest of the market was stumbling; eventually that situation deteriorated into a raging bear market in 1974, and 2) the “stealth bear market” of 1994, where small-caps went down for most of the year, yet SPX was essentially flat during that time; there never<i>was</i>much of a decline in that index until an unrelated scandal (the Orange County debacle) took it down briefly late in the year.</p><p><blockquote>两个相当值得注意的事件，但肯定不是最近发生的，是1)1973年的“漂亮五十”股票，它们似乎“无视地心引力”，在市场其他部分跌跌撞撞的情况下继续上涨；最终，这种情况恶化为1974年的熊市，以及2）1994年的“隐形熊市”，小盘股在这一年的大部分时间里都在下跌，但SPX在此期间基本持平；从来没有<i>什么</i>该指数大幅下跌，直到年底一场不相关的丑闻（奥兰治县灾难）导致该指数短暂下跌。</blockquote></p><p> This situation is not irreversible. It could “right” itself if breadth were to improve. That is still a possibility.</p><p><blockquote>这种情况并非不可逆转。如果广度提高，它可以“纠正”自己。这仍然是一种可能性。</blockquote></p><p> The SPX chart is still in a bullish mode, as it is rising and above support. There is minor support at this week’s lows, near 4370. Then there is more important support below that at 4233 (the July lows). As long as SPX remains above that level, the chart will still have a bullish appearance. Further support levels at 4160 and 4060 were well-tested, but are so far below current levels as to be of little use.</p><p><blockquote>SPX图表仍处于看涨模式，因为它正在上涨并高于支撑位。本周低点4370附近有小幅支撑。然后在4233点（7月低点）下方有更重要的支撑。只要SPX保持在该水平之上，图表仍将呈现看涨的外观。4160点和4060点的进一步支撑位经过了很好的测试，但远低于当前水平，用处不大。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/033187b97fbfadb4f302aff6d1e0e8c6\" tg-width=\"699\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> As noted on the accompanying SPX chart, a McMillan Volatility Band (MVB) sell signal is place (green “S” on the upper right of the chart). In addition, there is now a realized volatility sell signal in place, too, as the S&amp;P’s 20-day historical volatility has risen above 11%.</p><p><blockquote>如随附的SPX图表所示，发出麦克米兰波动带(MVB)卖出信号（图表右上角的绿色“S”）。此外，随着标准普尔指数20天历史波动率已升至11%以上，现在也出现了已实现的波动性卖出信号。</blockquote></p><p> Equity-only put-call ratios remain on sell signals, as they are still rising. This is indicative of relatively heavy put buying over the past month. As one can see from the accompanying charts, the standard ratio is rising faster than the weighted ratio – but both are rising.</p><p><blockquote>仅股票的看跌看涨期权比率仍处于卖出信号，因为它们仍在上升。这表明过去一个月看跌期权买盘相对较多。从附图中可以看出，标准比率的上升速度快于加权比率，但两者都在上升。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/94f1634f122ad3efa266cde27ddd8599\" tg-width=\"699\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/786b9a1f7118e239186772ceb365b513\" tg-width=\"699\" tg-height=\"523\" referrerpolicy=\"no-referrer\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> Breadth has been the most prominent indicator of the internal troubles that the current market is experiencing. It has been negative on many days when SPX was making new all-time highs. As a result, our breadth oscillators are lagging behind the market. Yes, they are on buy signals, but are nowhere near the positive levels that one would expect to see with the NASDAQ-100, S&amp;P 500 and Dow industrials at or near their highs.</p><p><blockquote>广度一直是当前市场正在经历的内部问题的最突出指标。当SPX创下历史新高时，它已经连续多天为负值。因此，我们的广度振荡器落后于市场。是的，它们发出了买入信号，但远未达到纳斯达克100指数、标普500指数和道琼斯工业指数处于或接近高点时预期的积极水平。</blockquote></p><p> There was one small ray of improvement here on Wednesday, though, when the broad market was flat-to-down on the day, yet breadth was positive. We have not seen that much recently, but if it should continue, that would be bullish for stocks.</p><p><blockquote>不过，周三有一丝小幅改善，当天大盘持平至下跌，但广度是积极的。我们最近没有看到那么多，但如果这种情况继续下去，这将对股市有利。</blockquote></p><p> The cumulative breadth oscillators continue to lag, and that is the “official” measure of a negative divergence. The cumulative breadth indicators made new all-time highs on 10 of 13 trading days leading up to and including June 11. Since then, they have not made a single new all-time high. Meanwhile, SPX has made new all-time highs on 13 separate trading days since that date.<i>That</i>is a negative divergence.</p><p><blockquote>累积宽度振荡器继续滞后，这是负背离的“官方”衡量标准。截至6月11日（含6月11日）的13个交易日中，累计宽度指标有10个创下历史新高。从那以后，他们没有创下一个新的历史新高。与此同时，自该日以来，SPX已连续13个交易日创下历史新高。<i>那个</i>是负背离。</blockquote></p><p> It can be overcome by an improvement in the cumulative breadth indicators – something which was accomplished earlier this year. But, for now, this negative divergence remains as a warning sign to stay alert and not become complacent.</p><p><blockquote>这可以通过改进累积宽度指标来克服——这是今年早些时候完成的。但是，就目前而言，这种负面分歧仍然是一个警告信号，需要保持警惕，不要自满。</blockquote></p><p></p><p> Over the past week, new 52-weeks lows were more numerous than new 52-week highs in terms of NASDAQ data and in terms of “stocks only” data. However, it is the NYSE that we use for our indicator, and new highs managed to cling to a narrow lead over new lows there. Thus, this indicator – while weakening – is still in a bullish state.</p><p><blockquote>过去一周，就纳斯达克数据和“仅股票”数据而言，52周新低多于52周新高。然而，我们使用纽约证券交易所作为指标，新高设法保持对新低的微弱领先。因此，该指标虽然走弱，但仍处于看涨状态。</blockquote></p><p> The one area of the market that has not shown these negative tendencies is implied volatility – VIX&nbsp;and its trading products. The VIX “spike peak” buy signal of July 20 is still in place. In fact, there has been a continuous “spike peak” buy signal in place since May 21, except for two trading days. Moreover, the trend of VIX remains downward as the 200-day moving average is still declining, and it is well above the VIX 20-day moving average.</p><p><blockquote>市场中没有表现出这些负面趋势的一个领域是隐含波动率——VIX及其交易产品。7月20日的VIX“峰值”买入信号仍然存在。事实上，自5月21日以来，除了两个交易日外，一直存在连续的“尖峰”买入信号。此外，由于200日移动平均线仍在下降，VIX的趋势仍然向下，并且远高于VIX 20日移动平均线。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/647dc26baa4fe92b852e1a1585a5cc18\" tg-width=\"700\" tg-height=\"527\" referrerpolicy=\"no-referrer\"><span>LAWRENCE MCMILLAN</span></p><p><blockquote><p class=\"t-img-caption\"><span>劳伦斯·麦克米兰</span></p></blockquote></p><p> The construct of volatility derivatives remains positive for stocks. The front-month August VIX futures are trading at a rather large premium to VIX, and the VIX futures term structure slopes upward. Also, the CBOE Volatility Indices term structure slopes upward. These add up to a bullish scenario for stocks. Any danger for the broad market would be signaled by the August VIX futures trading at a higher price than the September VIX futures, but that it is not imminent.</p><p><blockquote>波动性衍生品的结构仍然对股票有利。近月8月VIX期货的交易价格相对于VIX有相当大的溢价，VIX期货期限结构向上倾斜。此外，芝加哥期权交易所波动率指数期限结构向上倾斜。这些加起来对股市来说是一个看涨的情景。8月份VIX期货的交易价格高于9月份VIX期货，这将表明大盘面临任何危险，但这种危险并非迫在眉睫。</blockquote></p><p> So, the “core” outlook for the market remains bullish due to the trends of SPX and VIX. Yes, the internals are warning against complacency, so we can take sell signals against this “core” bullish position, but as long as SPX remains above support at 4233, the bulls remain in charge.</p><p><blockquote>因此，由于SPX和VIX的趋势，市场的“核心”前景仍然看涨。是的，内部人士警告不要自满，因此我们可以针对这个“核心”看涨位置发出卖出信号，但只要SPX保持在4233点的支撑位之上，多头仍然占据主导地位。</blockquote></p><p> <b>New Recommendation: D.R. Horton</b></p><p><blockquote><b>新建议：D.R。霍顿</b></blockquote></p><p> D.R. HortonDHI,+0.50%has a new buy signal from its put-call ratio chart, but we want that to be confirmed by an upside breakout as well. From the chart below, one can see the local maximum at an extremely high level on the put-call ratio chart (the green “B”), and that is an example of extreme pessimism toward this stock, even though its pullback since the beginning of May has not been all that steep.</p><p><blockquote>D.R.HortonDHI,+0.50%从其看跌-看涨期权比率图表中发出了新的买入信号，但我们希望这也能得到上行突破的证实。从下图中，人们可以看到看跌-看涨期权比率图上的局部最大值处于极高的水平（绿色“B”），这是对该股极度悲观的一个例子，尽管它自5月初以来的回调并没有那么陡峭。</blockquote></p><p> Put-call ratio signals are contrary in nature, so if the public is extremely pessimistic, we want to be optimistic. That would materialize in the form of a call buy, but only if DHI can close above resistance at 93.</p><p><blockquote>看跌-看涨期权比率信号本质上是相反的，因此如果公众极度悲观，我们希望保持乐观。这将以看涨期权买入的形式实现，但前提是DHI能够收于93阻力位上方。</blockquote></p><p> <b>IF DHI closes above 93,</b></p><p><blockquote><b>如果DHI收于93上方，</b></blockquote></p><p> <b>THEN buy 2 DHI Sept (17th) 92.5 calls</b></p><p><blockquote><b>然后买2 DHI 9月（17日）92.5评级</b></blockquote></p><p> DHI is currently trading above 93, but we want to see it close there before taking a long call position.</p><p><blockquote>DHI目前的交易价格高于93，但我们希望在建立多头看涨期权头寸之前看到它接近93。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/006888c3a8db8d4a3ffa406ebfc2b2e1\" tg-width=\"700\" tg-height=\"528\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">LAWRENCE MCMILLAN</p><p><blockquote>劳伦斯·麦克米兰</blockquote></p><p> That is the only new recommendation. There has not been a lot of takeover rumor activity recently except for<b>Cerner Corp.</b>CERN,+1.38%However, we only recently exited a position in Cerner, as the takeover rumors had been around so long that they extended beyond the length of the expiration date of our calls.</p><p><blockquote>这是唯一的新建议。最近没有太多的收购传闻活动，除了<b>塞尔纳公司。</b>CERN，+1.38%然而，我们最近才退出了Cerner的头寸，因为收购传闻已经存在很长时间，以至于超出了我们评级的到期日。</blockquote></p><p> <b>Follow-up action</b></p><p><blockquote><b>后续行动</b></blockquote></p><p> <b><i>All stops are mental closing stops unless otherwise noted.</i></b></p><p><blockquote><b><i>除非另有说明，所有停止都是精神关闭停止。</i></b></blockquote></p><p> <b>Long 3 DUK Aug (20th) 100 calls:</b>Raise the trailing stop to 102.</p><p><blockquote><b>龙3杜克8月（20日）100评级：</b>将尾随止动件提升至102。</blockquote></p><p> <b>Long 4 DBX Aug (13th) 30.5 calls:</b>Raise the trailing stop to 30.20.</p><p><blockquote><b>长4 DBX 8月（13日）30.5评级：</b>将跟踪止损提高至30.20。</blockquote></p><p> <b>Long 1 RAPT Aug (20th) 30 call:</b>The stop yourself remains at 26.</p><p><blockquote><b>Long 1 Rapt 8月20日30日看涨期权：</b>你自己的止损点保持在26。</blockquote></p><p> <b>Long 1 SPY Aug (20th) 431 call:</b>This position was bought in line with the VIX “spike peak” buy signal of July 20. Continue to hold for 22 days from that date. The position would be stopped out if VIX were to rise 3.00 points or more within any three-day period, using closing prices. If it is stopped out, then re-enter with an at-the-money call on the ensuing buy signal.</p><p><blockquote><b>龙1 SPDR标普500指数ETF 8月（20日）431看涨期权：</b>该头寸是根据7月20日VIX“尖峰”买入信号买入的。自该日起继续持有22天。如果VIX在任何三天内上涨3.00点或以上，则使用收盘价，该头寸将被止损。如果止损，则在随后的买入信号中以平价看涨期权重新入场。</blockquote></p><p> <b>Long 2 HOLX Sept (17th) 65 calls:</b>Raise the trailing stop yourself to 68. Furthermore, if the stop trades at 75, then roll up to the<b>Sept (17th) 75 calls.</b></p><p><blockquote><b>Long 2 HOLX 9月（17日）65评级：</b>自己将跟踪止损提高到68。此外，如果止损点交易在75，则向上滚动至<b>75年9月17日评级。</b></blockquote></p><p> <b>Long 1 SPY Aug (20th) 433 put and short 1 SPY Aug (20th) 408 put:</b>This spread was bought in line with the equity-only put-call ratio sell signals. Those sell signals are still in place, so continue to hold this spread. We will update the situation weekly.</p><p><blockquote><b>多头1 SPDR标普500指数ETF 8月（20日）433看跌空头1 SPDR标普500指数ETF 8月（20日）408看跌：</b>该价差是根据仅股票的看跌看涨期权比率卖出信号买入的。那些卖出信号仍然存在，所以继续持有这个价差。我们将每周更新情况。</blockquote></p><p> <b>Long 0 AVCT Aug (20th) 5 calls:</b>These calls were stopped out when American Virtual Cloud TechnologiesAVCT,-1.30%closed below 5 on July 26. The stock had begun to weaken on news of debt reduction and then fell sharply after the company filed to sell more shares.</p><p><blockquote><b>长0 AVCT 8月（20日）5评级：</b>当美国虚拟云技术公司AVCT,-1.30%于7月26日收盘低于5时，这些评级被停止。该股因债务削减的消息而开始走弱，然后在该公司申请出售更多股票后大幅下跌。</blockquote></p><p> <b>Long 5 STAR Aug (20th) 22.5 calls:</b>Raise the stop to 22.20.</p><p><blockquote><b>龙5星8月（20日）22.5评级：</b>将止损提高到22.20。</blockquote></p><p> <b>Long 5 MGI Aug (20th) 10 calls:</b>Hold this position without a stop initially to see if a takeover bid can materialize.</p><p><blockquote><b>长5华大智造8月（20日）10评级：</b>最初不间断地持有该头寸，看看收购要约是否能够实现。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/this-eye-catching-divergence-in-the-stock-market-is-a-warning-against-complacency-01627570780?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/this-eye-catching-divergence-in-the-stock-market-is-a-warning-against-complacency-01627570780?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198838390","content_text":"S&P 500’s core outlook remains bullish\nGETTY IMAGES\nThe S&P 500 index is performing at a far different rate than the “average” stock. This has been going on for a while and is not necessarily a bull market “killer,” but it is certainly not the healthiest of environments.\nThe S&P,the NASDAQ-100 and the Dow Jones Industrial Average are all at or near all-time highs. But the Russell 2000 is lagging behind, reflective of the poor internal strength of the overall market. The internal measurements show fairly heavy put buying, poor breadth on many days, and even more new 52-week lows than new highs.\nWhat is propelling SPX and the narrow-based indexes is a relatively small number of large-cap tech stocks.\nSimilar stories have unfolded many times in the past – some with dire market results and some not so bad. But it is extremely difficult to keep a bull market going with the majority of stocks lagging behind.\nTwo rather notable, but certainly not recent, occurrences were 1) the “Nifty Fifty” stocks of 1973 that seemed to “defy gravity” and kept going up while the rest of the market was stumbling; eventually that situation deteriorated into a raging bear market in 1974, and 2) the “stealth bear market” of 1994, where small-caps went down for most of the year, yet SPX was essentially flat during that time; there neverwasmuch of a decline in that index until an unrelated scandal (the Orange County debacle) took it down briefly late in the year.\nThis situation is not irreversible. It could “right” itself if breadth were to improve. That is still a possibility.\nThe SPX chart is still in a bullish mode, as it is rising and above support. There is minor support at this week’s lows, near 4370. Then there is more important support below that at 4233 (the July lows). As long as SPX remains above that level, the chart will still have a bullish appearance. Further support levels at 4160 and 4060 were well-tested, but are so far below current levels as to be of little use.\nLAWRENCE MCMILLAN\nAs noted on the accompanying SPX chart, a McMillan Volatility Band (MVB) sell signal is place (green “S” on the upper right of the chart). In addition, there is now a realized volatility sell signal in place, too, as the S&P’s 20-day historical volatility has risen above 11%.\nEquity-only put-call ratios remain on sell signals, as they are still rising. This is indicative of relatively heavy put buying over the past month. As one can see from the accompanying charts, the standard ratio is rising faster than the weighted ratio – but both are rising.\nLAWRENCE MCMILLAN\nLAWRENCE MCMILLAN\nBreadth has been the most prominent indicator of the internal troubles that the current market is experiencing. It has been negative on many days when SPX was making new all-time highs. As a result, our breadth oscillators are lagging behind the market. Yes, they are on buy signals, but are nowhere near the positive levels that one would expect to see with the NASDAQ-100, S&P 500 and Dow industrials at or near their highs.\nThere was one small ray of improvement here on Wednesday, though, when the broad market was flat-to-down on the day, yet breadth was positive. We have not seen that much recently, but if it should continue, that would be bullish for stocks.\nThe cumulative breadth oscillators continue to lag, and that is the “official” measure of a negative divergence. The cumulative breadth indicators made new all-time highs on 10 of 13 trading days leading up to and including June 11. Since then, they have not made a single new all-time high. Meanwhile, SPX has made new all-time highs on 13 separate trading days since that date.Thatis a negative divergence.\nIt can be overcome by an improvement in the cumulative breadth indicators – something which was accomplished earlier this year. But, for now, this negative divergence remains as a warning sign to stay alert and not become complacent.\nOver the past week, new 52-weeks lows were more numerous than new 52-week highs in terms of NASDAQ data and in terms of “stocks only” data. However, it is the NYSE that we use for our indicator, and new highs managed to cling to a narrow lead over new lows there. Thus, this indicator – while weakening – is still in a bullish state.\nThe one area of the market that has not shown these negative tendencies is implied volatility – VIX and its trading products. The VIX “spike peak” buy signal of July 20 is still in place. In fact, there has been a continuous “spike peak” buy signal in place since May 21, except for two trading days. Moreover, the trend of VIX remains downward as the 200-day moving average is still declining, and it is well above the VIX 20-day moving average.\nLAWRENCE MCMILLAN\nThe construct of volatility derivatives remains positive for stocks. The front-month August VIX futures are trading at a rather large premium to VIX, and the VIX futures term structure slopes upward. Also, the CBOE Volatility Indices term structure slopes upward. These add up to a bullish scenario for stocks. Any danger for the broad market would be signaled by the August VIX futures trading at a higher price than the September VIX futures, but that it is not imminent.\nSo, the “core” outlook for the market remains bullish due to the trends of SPX and VIX. Yes, the internals are warning against complacency, so we can take sell signals against this “core” bullish position, but as long as SPX remains above support at 4233, the bulls remain in charge.\nNew Recommendation: D.R. Horton\nD.R. HortonDHI,+0.50%has a new buy signal from its put-call ratio chart, but we want that to be confirmed by an upside breakout as well. From the chart below, one can see the local maximum at an extremely high level on the put-call ratio chart (the green “B”), and that is an example of extreme pessimism toward this stock, even though its pullback since the beginning of May has not been all that steep.\nPut-call ratio signals are contrary in nature, so if the public is extremely pessimistic, we want to be optimistic. That would materialize in the form of a call buy, but only if DHI can close above resistance at 93.\nIF DHI closes above 93,\nTHEN buy 2 DHI Sept (17th) 92.5 calls\nDHI is currently trading above 93, but we want to see it close there before taking a long call position.\nLAWRENCE MCMILLAN\nThat is the only new recommendation. There has not been a lot of takeover rumor activity recently except forCerner Corp.CERN,+1.38%However, we only recently exited a position in Cerner, as the takeover rumors had been around so long that they extended beyond the length of the expiration date of our calls.\nFollow-up action\nAll stops are mental closing stops unless otherwise noted.\nLong 3 DUK Aug (20th) 100 calls:Raise the trailing stop to 102.\nLong 4 DBX Aug (13th) 30.5 calls:Raise the trailing stop to 30.20.\nLong 1 RAPT Aug (20th) 30 call:The stop yourself remains at 26.\nLong 1 SPY Aug (20th) 431 call:This position was bought in line with the VIX “spike peak” buy signal of July 20. Continue to hold for 22 days from that date. The position would be stopped out if VIX were to rise 3.00 points or more within any three-day period, using closing prices. If it is stopped out, then re-enter with an at-the-money call on the ensuing buy signal.\nLong 2 HOLX Sept (17th) 65 calls:Raise the trailing stop yourself to 68. Furthermore, if the stop trades at 75, then roll up to theSept (17th) 75 calls.\nLong 1 SPY Aug (20th) 433 put and short 1 SPY Aug (20th) 408 put:This spread was bought in line with the equity-only put-call ratio sell signals. Those sell signals are still in place, so continue to hold this spread. We will update the situation weekly.\nLong 0 AVCT Aug (20th) 5 calls:These calls were stopped out when American Virtual Cloud TechnologiesAVCT,-1.30%closed below 5 on July 26. The stock had begun to weaken on news of debt reduction and then fell sharply after the company filed to sell more shares.\nLong 5 STAR Aug (20th) 22.5 calls:Raise the stop to 22.20.\nLong 5 MGI Aug (20th) 10 calls:Hold this position without a stop initially to see if a takeover bid can materialize.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":360,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806500198,"gmtCreate":1627662227314,"gmtModify":1631892560214,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/806500198","repostId":"2155137344","repostType":4,"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806500301,"gmtCreate":1627662218003,"gmtModify":1631892560222,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/806500301","repostId":"1109908934","repostType":4,"isVote":1,"tweetType":1,"viewCount":406,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808615883,"gmtCreate":1627573278742,"gmtModify":1631892560235,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808615883","repostId":"1165345369","repostType":4,"isVote":1,"tweetType":1,"viewCount":635,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808615304,"gmtCreate":1627573265808,"gmtModify":1631892560247,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/808615304","repostId":"1179174010","repostType":4,"repost":{"id":"1179174010","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":1627572541,"share":"https://www.laohu8.com/m/news/1179174010?lang=zh_CN&edition=full","pubTime":"2021-07-29 23:29","market":"us","language":"en","title":"Musk confirms Tesla AI Day will be on August 19<blockquote>马斯克确认特斯拉AI Day将于8月19日</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1179174010","media":"Tiger Newspress","summary":"Tesla shares surged more than 5% after Elon Musk confirming Tesla AI Day will be on August 19.Tesla CEO Elon Musk confirmed via tweet on Thursday that the company is holding an AI Day on Aug. 19.While the company did not provide details of the artificial intelligence event, Musk said in a June 21 tweet that the event \"will go over progress with Tesla AI software & hardware, both training & inference\" and that its purpose is recruiting.The focus of the AI event is likely to be around Tesla's self","content":"<p>Tesla shares surged more than 5%&nbsp;after&nbsp;Elon Musk confirming Tesla AI Day will be on August 19.</p><p><blockquote>在Elon Musk确认特斯拉AI Day将于8月19日举行后，特斯拉股价飙升逾5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d2a827bd1090dddc0ac2adc7e3aa9e60\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla CEO Elon Musk confirmed via tweet on Thursday that the company is holding an AI Day on Aug. 19. </p><p><blockquote>特斯拉CEO Elon Musk周四通过推文证实，该公司将于8月19日举办AI Day。</blockquote></p><p> While the company did not provide details of the artificial intelligence event, Musk said in a June 21 tweet that the event \"will go over progress with Tesla AI software &amp; hardware, both training &amp; inference\" and that its purpose is recruiting.</p><p><blockquote>虽然该公司没有提供人工智能活动的细节，但马斯克在6月21日的一条推文中表示，该活动“将回顾特斯拉人工智能软件和硬件的进展，包括训练和推理”，其目的是招聘。</blockquote></p><p> The focus of the AI event is likely to be around Tesla's self-driving technology. Although the system is named Full Self-Driving (FSD), the software is still in beta testing, and the company has said in SEC filings it is not yet fully autonomous.</p><p><blockquote>AI盛会的焦点很可能围绕着特斯拉的自动驾驶技术。尽管该系统被命名为全自动驾驶（FSD），但该软件仍处于beta测试阶段，该公司在SEC文件中表示，它尚未完全自动驾驶。</blockquote></p><p> Tesla's recruiting effort in this area seeks to attract experts in machine learning and computer vision, as well as neural network specialists.</p><p><blockquote>特斯拉在这一领域的招聘工作旨在吸引机器学习和计算机视觉方面的专家，以及神经网络专家。</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>Musk confirms Tesla AI Day will be on August 19<blockquote>马斯克确认特斯拉AI Day将于8月19日</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\">\nMusk confirms Tesla AI Day will be on August 19<blockquote>马斯克确认特斯拉AI Day将于8月19日</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\">2021-07-29 23:29</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tesla shares surged more than 5%&nbsp;after&nbsp;Elon Musk confirming Tesla AI Day will be on August 19.</p><p><blockquote>在Elon Musk确认特斯拉AI Day将于8月19日举行后，特斯拉股价飙升逾5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d2a827bd1090dddc0ac2adc7e3aa9e60\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla CEO Elon Musk confirmed via tweet on Thursday that the company is holding an AI Day on Aug. 19. </p><p><blockquote>特斯拉CEO Elon Musk周四通过推文证实，该公司将于8月19日举办AI Day。</blockquote></p><p> While the company did not provide details of the artificial intelligence event, Musk said in a June 21 tweet that the event \"will go over progress with Tesla AI software &amp; hardware, both training &amp; inference\" and that its purpose is recruiting.</p><p><blockquote>虽然该公司没有提供人工智能活动的细节，但马斯克在6月21日的一条推文中表示，该活动“将回顾特斯拉人工智能软件和硬件的进展，包括训练和推理”，其目的是招聘。</blockquote></p><p> The focus of the AI event is likely to be around Tesla's self-driving technology. Although the system is named Full Self-Driving (FSD), the software is still in beta testing, and the company has said in SEC filings it is not yet fully autonomous.</p><p><blockquote>AI盛会的焦点很可能围绕着特斯拉的自动驾驶技术。尽管该系统被命名为全自动驾驶（FSD），但该软件仍处于beta测试阶段，该公司在SEC文件中表示，它尚未完全自动驾驶。</blockquote></p><p> Tesla's recruiting effort in this area seeks to attract experts in machine learning and computer vision, as well as neural network specialists.</p><p><blockquote>特斯拉在这一领域的招聘工作旨在吸引机器学习和计算机视觉方面的专家，以及神经网络专家。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179174010","content_text":"Tesla shares surged more than 5% after Elon Musk confirming Tesla AI Day will be on August 19.\n\nTesla CEO Elon Musk confirmed via tweet on Thursday that the company is holding an AI Day on Aug. 19. \nWhile the company did not provide details of the artificial intelligence event, Musk said in a June 21 tweet that the event \"will go over progress with Tesla AI software & hardware, both training & inference\" and that its purpose is recruiting.\nThe focus of the AI event is likely to be around Tesla's self-driving technology. Although the system is named Full Self-Driving (FSD), the software is still in beta testing, and the company has said in SEC filings it is not yet fully autonomous.\nTesla's recruiting effort in this area seeks to attract experts in machine learning and computer vision, as well as neural network specialists.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":808612735,"gmtCreate":1627573242227,"gmtModify":1631892560567,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/808612735","repostId":"1165497040","repostType":4,"isVote":1,"tweetType":1,"viewCount":298,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896013983,"gmtCreate":1628532110742,"gmtModify":1631891267877,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/896013983","repostId":"1128238834","repostType":4,"repost":{"id":"1128238834","kind":"news","pubTimestamp":1628521549,"share":"https://www.laohu8.com/m/news/1128238834?lang=zh_CN&edition=full","pubTime":"2021-08-09 23:05","market":"us","language":"en","title":"Investment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬——消息人士</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128238834","media":"Reuters","summary":"Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for it","content":"<p>Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for its bankers, a source close to the matter said on Monday, mirroring a pay-scale trend by other Wall Street lenders.</p><p><blockquote>路透8月9日-一位知情人士周一表示，投资银行杰富瑞金融集团(Jefferies Financial Group Inc)大幅提高了银行家的薪资，这反映了其他华尔街银行的薪资趋势。</blockquote></p><p> The bank’s first-year analysts in the United States will now earn $110,000 annually, up from $85,000. Second-year analysts will make $125,000 per year, up from $90,000, said the source, who was not authorized to speak publicly on the matter and asked for anonymity.</p><p><blockquote>该银行在美国的第一年分析师现在的年薪将从85,000美元提高到11万美元。该消息人士称，二年级分析师的年薪将从9万美元增至12.5万美元。该消息人士无权就此事公开发言，并要求匿名。</blockquote></p><p> Salaries of associates were raised to $150,000 from $125,000, the source added.</p><p><blockquote>消息人士补充说，员工的工资从12.5万美元提高到15万美元。</blockquote></p><p> The new pay scale, which was reported earlier in the day by the Wall Street Journal, has been in effect since July 1 and follows similar moves by major Wall Street firms to attract and retain top talent as dealmaking activity continues at an unprecedented pace.</p><p><blockquote>《华尔街日报》当天早些时候报道了新的薪酬标准，该标准自7月1日起生效，此前华尔街主要公司也采取了类似举措，以吸引和留住顶尖人才，因为交易活动继续以前所未有的速度进行。</blockquote></p><p> Banks have also been introducing incentives to younger staff after a group of first-year analysts at Goldman Sachs Group Inc complained of long hours and “unrealistic deadlines” in an internal survey in March.</p><p><blockquote>高盛集团(Goldman Sachs Group Inc.)的一组一年级分析师在三月份的一项内部调查中抱怨工作时间长和“不切实际的最后期限”后，银行也一直在向年轻员工提供激励措施。</blockquote></p><p> Citigroup Inc, Morgan Stanley, UBS Group AG , and Lazard Ltd have also raised pay for their bankers.</p><p><blockquote>花旗集团、摩根士丹利、瑞银集团和拉扎德有限公司也提高了银行家的薪酬。</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>Investment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬——消息人士</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\">\nInvestment bank Jefferies raises pay for analysts - source<blockquote>投资银行杰富瑞提高分析师薪酬——消息人士</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-08-09 23:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for its bankers, a source close to the matter said on Monday, mirroring a pay-scale trend by other Wall Street lenders.</p><p><blockquote>路透8月9日-一位知情人士周一表示，投资银行杰富瑞金融集团(Jefferies Financial Group Inc)大幅提高了银行家的薪资，这反映了其他华尔街银行的薪资趋势。</blockquote></p><p> The bank’s first-year analysts in the United States will now earn $110,000 annually, up from $85,000. Second-year analysts will make $125,000 per year, up from $90,000, said the source, who was not authorized to speak publicly on the matter and asked for anonymity.</p><p><blockquote>该银行在美国的第一年分析师现在的年薪将从85,000美元提高到11万美元。该消息人士称，二年级分析师的年薪将从9万美元增至12.5万美元。该消息人士无权就此事公开发言，并要求匿名。</blockquote></p><p> Salaries of associates were raised to $150,000 from $125,000, the source added.</p><p><blockquote>消息人士补充说，员工的工资从12.5万美元提高到15万美元。</blockquote></p><p> The new pay scale, which was reported earlier in the day by the Wall Street Journal, has been in effect since July 1 and follows similar moves by major Wall Street firms to attract and retain top talent as dealmaking activity continues at an unprecedented pace.</p><p><blockquote>《华尔街日报》当天早些时候报道了新的薪酬标准，该标准自7月1日起生效，此前华尔街主要公司也采取了类似举措，以吸引和留住顶尖人才，因为交易活动继续以前所未有的速度进行。</blockquote></p><p> Banks have also been introducing incentives to younger staff after a group of first-year analysts at Goldman Sachs Group Inc complained of long hours and “unrealistic deadlines” in an internal survey in March.</p><p><blockquote>高盛集团(Goldman Sachs Group Inc.)的一组一年级分析师在三月份的一项内部调查中抱怨工作时间长和“不切实际的最后期限”后，银行也一直在向年轻员工提供激励措施。</blockquote></p><p> Citigroup Inc, Morgan Stanley, UBS Group AG , and Lazard Ltd have also raised pay for their bankers.</p><p><blockquote>花旗集团、摩根士丹利、瑞银集团和拉扎德有限公司也提高了银行家的薪酬。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/jefferies-analyst-compensation/investment-bank-jefferies-raises-pay-for-analysts-source-idUSL4N2PG2U4\">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":{"GS":"高盛"},"source_url":"https://www.reuters.com/article/jefferies-analyst-compensation/investment-bank-jefferies-raises-pay-for-analysts-source-idUSL4N2PG2U4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128238834","content_text":"Aug 9 (Reuters) - Investment bank Jefferies Financial Group Inc has markedly boosted salaries for its bankers, a source close to the matter said on Monday, mirroring a pay-scale trend by other Wall Street lenders.\nThe bank’s first-year analysts in the United States will now earn $110,000 annually, up from $85,000. Second-year analysts will make $125,000 per year, up from $90,000, said the source, who was not authorized to speak publicly on the matter and asked for anonymity.\nSalaries of associates were raised to $150,000 from $125,000, the source added.\nThe new pay scale, which was reported earlier in the day by the Wall Street Journal, has been in effect since July 1 and follows similar moves by major Wall Street firms to attract and retain top talent as dealmaking activity continues at an unprecedented pace.\nBanks have also been introducing incentives to younger staff after a group of first-year analysts at Goldman Sachs Group Inc complained of long hours and “unrealistic deadlines” in an internal survey in March.\nCitigroup Inc, Morgan Stanley, UBS Group AG , and Lazard Ltd have also raised pay for their bankers.","news_type":1,"symbols_score_info":{"GS":0.9}},"isVote":1,"tweetType":1,"viewCount":2568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896019509,"gmtCreate":1628532064701,"gmtModify":1631891267911,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/896019509","repostId":"1178202513","repostType":4,"isVote":1,"tweetType":1,"viewCount":3034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174964434,"gmtCreate":1627059492328,"gmtModify":1631893572011,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/174964434","repostId":"2153984067","repostType":4,"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807011226,"gmtCreate":1627988520865,"gmtModify":1631892560164,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807011226","repostId":"1169635195","repostType":4,"repost":{"id":"1169635195","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":1627988246,"share":"https://www.laohu8.com/m/news/1169635195?lang=zh_CN&edition=full","pubTime":"2021-08-03 18:57","market":"hk","language":"en","title":"Alibaba EPS beats by RMB2.27, misses on revenue<blockquote>阿里巴巴-SW每股收益超过预期人民币2.27元、营收不及预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169635195","media":"Tiger Newspress","summary":" $Alibaba$ posted financial result in premarket, which showed that:. Alibaba Q1 revenue RMB205.74 bln vs. RMB153.75 bln a year ago; FactSet consensus RMB209.11 bln.Alibaba Q1 adj. EPS RMB16.60 vs. RMB14.82 a year ago; FactSet consensus RMB14.33.Revenue was RMB205,740 million , an increase of 34% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 22% year-over-year to RMB187,306 million .Annual active consumersof the Alibaba Ecosystem across the world reached app","content":"<p>(August 3)&nbsp;<a href=\"https://laohu8.com/S/BABA\">Alibaba</a> posted&nbsp;financial&nbsp;result&nbsp;in&nbsp;premarket,&nbsp;which&nbsp;showed&nbsp;that:</p><p><blockquote>（8月3日）<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>盘前公布的财务业绩显示：</blockquote></p><p> Alibaba Q1 revenue RMB205.74 bln vs. RMB153.75 bln a year ago; FactSet consensus RMB209.11 bln.</p><p><blockquote>阿里巴巴-SW第一季度营收为人民币2057.4亿元，去年同期为人民币1537.5亿元；FactSet共识为人民币2091.1亿元。</blockquote></p><p> Alibaba Q1 adj. EPS RMB16.60 vs. RMB14.82 a year ago; FactSet consensus RMB14.33.</p><p><blockquote>阿里巴巴-SW第一季度调整后。每股收益为人民币16.60元，去年同期为人民币14.82元；FactSet共识人民币14.33元。</blockquote></p><p> <b>BUSINESS HIGHLIGHTS</b></p><p><blockquote><b>业务亮点</b></blockquote></p><p> <b>In the quarter ended June 30, 2021:</b></p><p><blockquote><b>截至2021年6月30日的季度：</b></blockquote></p><p> <ul>  <li><b>Revenue</b>&nbsp;was RMB205,740 million (US$31,865 million), an increase of 34% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 22% year-over-year to RMB187,306 million (US$29,010 million).</li>  <li><b>Annual active consumers</b>of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended June 30, 2021, an increase of 45 million from the twelve months ended March 31, 2021. This includes 912 million consumers in China1and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.</li>  <li><b>Income from operations</b>&nbsp;was RMB30,847 million (US$4,778 million), a decrease of 11% year-over-year.<b>Adjusted EBITDA</b>, a non-GAAP measurement, decreased 5% year-over-year to RMB48,628 million (US$7,532 million).<b>Adjusted EBITA</b>, a non-GAAP measurement, decreased 8% year-over-year to RMB41,731 million (US$6,463 million). The year-over-year decreases were primarily due to our investments in strategic areas to capture incremental opportunities, such as Community Marketplaces, Taobao Deals, Local Consumer Services and Lazada, as well as our increased spending on growth initiatives within China retail marketplaces, such as Idle Fish and Taobao Live, and our support to merchants.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;was RMB45,141 million (US$6,991 million),and<b>net income</b>was RMB42,835 million (US$6,634 million).<b>Non-GAAP net income</b>&nbsp;was RMB43,441 million (US$6,728 million), an increase of 10% year-over-year, mainly due to an increase in share of profit of equity method investees.</li>  <li><b>Diluted earnings per ADS</b>&nbsp;was RMB16.38 (US$2.54) and<b>diluted earnings per share</b>was RMB2.05 (US$0.32 or HK$2.46).<b>Non-GAAP diluted earnings per ADS</b>was RMB16.60 (US$2.57), an increase of 12% year-over-year and<b>non-GAAP diluted earnings per share</b>was RMB2.08 (US$0.32 or HK$2.50), an increase of 12% year-over-year.</li>  <li><b>Net cashprovided by operating activities</b>&nbsp;was RMB33,603 million (US$5,204 million).<b>Non-GAAP free cash flow</b>was RMB20,683 million (US$3,203 million), a decrease compared to RMB36,570 million in the same quarter of 2020, mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million fine levied earlier this year by China’s State Administration for Market Regulation pursuant to China’s Anti-monopoly Law (the “Anti-monopoly Fine”) and a decrease in profit as a result of our investments in key strategic areas.</li> </ul> <img src=\"https://static.tigerbbs.com/11aa08a1ccb4f80e6867c7e7631297c8\" tg-width=\"719\" tg-height=\"863\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>收入</b>为人民币2,057.40百万元（318.65亿美元），同比增长34%。如果不包括合并高鑫，我们的收入将同比增长22%至人民币1,873.06亿元（290.1亿美元）。</li><li><b>年度活跃消费者</b>截至2021年6月30日止十二个月，全球阿里巴巴-SW生态系统的总用户数达到约11.8亿，较截至2021年3月31日止十二个月增加4500万。这包括Lazada、全球速卖通、Trendyol和Daraz服务的中国9.12亿消费者1和海外2.65亿消费者。</li><li><b>营业收入</b>为人民币308.47亿元（47.78亿美元），同比下降11%。<b>调整后EBITDA</b>根据非公认会计准则衡量，同比下降5%至人民币486.28亿元（75.32亿美元）。<b>调整后EBITA</b>根据非公认会计准则衡量，同比下降8%至人民币417.31亿元（64.63亿美元）。同比下降主要是由于我们在战略领域的投资以捕捉增量机会，例如社区市场、淘宝交易、本地消费者服务和Lazada，以及我们在中国零售市场增长计划上的支出增加，例如闲鱼和淘宝直播，以及我们对商家的支持。</li><li><b>归属于普通股股东的净利润</b>为人民币451.41亿元（69.91亿美元），及<b>净收入</b>为人民币428.35亿元（66.34亿美元）。<b>非公认会计准则净利润</b>为人民币434.41亿元（67.28亿美元），同比增长10%，主要是由于权益法被投资方利润份额增加。</li><li><b>每股美国存托凭证摊薄收益</b>为人民币16.38元（2.54美元）<b>每股摊薄盈利</b>为人民币2.05元（0.32美元或2.46港元）。<b>非公认会计准则每股美国存托凭证摊薄收益</b>为人民币16.60元（2.57美元），同比增长12%<b>非公认会计准则稀释每股收益</b>为人民币2.08元（0.32美元或2.50港元），同比增长12%。</li><li><b>经营活动提供的现金净额</b>为人民币336.03亿元（52.04亿美元）。<b>非公认会计准则自由现金流</b>为人民币206.83亿元（32.03亿美元），较2020年同季度的人民币365.70亿元有所下降，主要是由于部分结清了今年早些时候中国国家市场监督管理总局根据中国反垄断法征收的人民币182.28亿元罚款（“反垄断法罚款”）中的人民币91.14亿元（14.12亿美元）以及我们在关键战略领域的投资导致利润减少。</li></ul></blockquote></p><p> <b>China Retail Marketplaces</b></p><p><blockquote><b>中国零售市场</b></blockquote></p><p> In June 2021, Alibaba's China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million.</p><p><blockquote>2021年6月，阿里巴巴-SW中国零售市场的移动月活跃用户数为9.39亿，季度净增1400万。</blockquote></p><p> <b>Cloud Computing</b></p><p><blockquote><b>云计算</b></blockquote></p><p> In the June 2021 quarter, our cloud computing revenue grew 29% year-over-year to RMB16,051 million (US$2,486 million), primarily driven by robust growth in revenue from customers in the Internet, financial services and retail industries.</p><p><blockquote>2021年6月季度，我们的云计算收入同比增长29%至人民币160.51亿元（24.86亿美元），主要得益于互联网、金融服务和零售行业客户收入的强劲增长。</blockquote></p><p> <b>Cash Flow from Operating Activities and Free Cash Flow</b></p><p><blockquote><b>经营活动产生的现金流量和自由现金流量</b></blockquote></p><p> In the quarter ended June 30, 2021, net cash provided by operating activities was RMB33,603 million (US$5,204 million), a decrease compared to RMB50,099 million in the same quarter of 2020. Free cash flow, a non-GAAP measurement of liquidity, decreased to RMB20,683 million (US$3,203 million), from RMB36,570 million in the same quarter of 2020. The year-over-year decreases were mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million Anti-monopoly Fine and a decrease in profit as a result of our investments in key strategic areas. A reconciliation of net cash provided by operating activities to free cash flow is included at the end of this results announcement.</p><p><blockquote>截至2021年6月30日的季度，经营活动提供的净现金为人民币336.03亿元（52.04亿美元），较2020年同季度的人民币500.99亿元有所下降。自由现金流（衡量流动性的非公认会计准则衡量标准）从2020年同季度的人民币365.7亿元下降至人民币206.83亿元（32.03亿美元）。同比下降主要是由于部分和解了人民币182.28亿元的反垄断罚款中的人民币91.14亿元（14.12亿美元），以及我们在关键战略领域的投资导致利润减少。经营活动提供的净现金与自由现金流的调节表包含在本业绩公告的末尾。</blockquote></p><p> <b>Increasing Share Repurchases</b></p><p><blockquote><b>增加股票回购</b></blockquote></p><p> Since April 1, 2021 and through the publication of this results announcement, we repurchased approximately 18.1 million of our ADSs (the equivalent of approximately 144.5 million of our ordinary shares) for approximately US$3,680 million under our share repurchase program. In addition, on August 2, 2021, our board of directors authorized the Company to upsize our Company's share repurchase program from US$10 billion to US$15 billion. This share repurchase program will be effective through the end of 2022.</p><p><blockquote>自2021年4月1日起及透过刊发本业绩公告，我们根据股份回购计划以约36.8亿美元回购约18.1百万股美国存讬股（相当于约144.5百万股普通股）。此外，2021年8月2日，我们的董事会授权公司将我们公司的股票回购计划规模从100亿美元扩大到150亿美元。该股票回购计划将于2022年底生效。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/58bf53593de78f5f6e4fa1096d7aae94\" tg-width=\"757\" tg-height=\"793\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”</p><p><blockquote>我们正在将股票回购计划从100亿美元增加到150亿美元，这是公司历史上最大的股票回购计划，因为我们对我们的长期增长前景充满信心。我们的净现金状况仍然强劲，自2021年4月1日以来，我们已回购了约37亿美元的ADS。”</blockquote></p><p> In June 2021, our China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million. We continue to increase penetration in less-developed areas, reflecting our success in broadening product offerings to meet diverse consumer demand.</p><p><blockquote>2021年6月，我们的中国零售市场拥有9.39亿移动月活跃用户数，季度净增1400万。我们继续提高在欠发达地区的渗透率，反映我们在扩大产品供应以满足多样化消费者需求方面取得的成功。</blockquote></p><p> “Alibaba started the new fiscal year by delivering a healthy quarter. For the June quarter, global annual active consumers across the Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the March quarter, which includes 912 million consumers in China. Over more than twenty years of growth, we have developed a company that spans across both consumer and industrial Internet, with multiple engines driving our long-term growth,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “We believe in the growth of the Chinese economy and long-term value creation of Alibaba, and we will continue to strengthen our technology advantage in improving the consumer experience and helping our enterprise customers to accomplish successful digital transformations.”</p><p><blockquote>张勇集团董事长兼首席执行官阿里巴巴-SW表示：“阿里巴巴-SW以健康的季度开局新财年。在6月季度，阿里巴巴-SW生态系统的全球年度活跃消费者达到11.8亿，比3月季度增加了4500万，其中包括9.12亿中国消费者。经过二十多年的增长，我们已经发展出一家横跨消费互联网和工业互联网的公司，多个引擎推动我们的长期增长。”“我们相信中国经济的增长和阿里巴巴-SW的长期价值创造，我们将继续加强我们在改善消费者体验和帮助企业客户成功完成数字化转型方面的技术优势。”</blockquote></p><p> “We delivered strong revenue growth of 34% year-over-year. As we said in last quarter's results announcement, we are investing our excess profits and additional capital to support our merchants and invest in strategic areas to better serve customers and penetrate into new addressable markets,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”</p><p><blockquote>“我们实现了34%的强劲收入增长。正如我们在上季度业绩公告中所说，我们正在投资超额利润和额外资本来支持我们的商家，并投资于战略领域，以更好地服务客户并渗透到新的潜在市场，”阿里巴巴-SW集团首席财务官Maggie Wu表示。“我们正在将股票回购计划从100亿美元增加到150亿美元，这是公司历史上最大的股票回购计划，因为我们对我们的长期增长前景充满信心。我们的净现金状况仍然强劲，自2021年4月1日以来，我们已经回购了约37亿美元的ADS。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba EPS beats by RMB2.27, misses on revenue<blockquote>阿里巴巴-SW每股收益超过预期人民币2.27元、营收不及预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba EPS beats by RMB2.27, misses on revenue<blockquote>阿里巴巴-SW每股收益超过预期人民币2.27元、营收不及预期</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\">2021-08-03 18:57</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(August 3)&nbsp;<a href=\"https://laohu8.com/S/BABA\">Alibaba</a> posted&nbsp;financial&nbsp;result&nbsp;in&nbsp;premarket,&nbsp;which&nbsp;showed&nbsp;that:</p><p><blockquote>（8月3日）<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>盘前公布的财务业绩显示：</blockquote></p><p> Alibaba Q1 revenue RMB205.74 bln vs. RMB153.75 bln a year ago; FactSet consensus RMB209.11 bln.</p><p><blockquote>阿里巴巴-SW第一季度营收为人民币2057.4亿元，去年同期为人民币1537.5亿元；FactSet共识为人民币2091.1亿元。</blockquote></p><p> Alibaba Q1 adj. EPS RMB16.60 vs. RMB14.82 a year ago; FactSet consensus RMB14.33.</p><p><blockquote>阿里巴巴-SW第一季度调整后。每股收益为人民币16.60元，去年同期为人民币14.82元；FactSet共识人民币14.33元。</blockquote></p><p> <b>BUSINESS HIGHLIGHTS</b></p><p><blockquote><b>业务亮点</b></blockquote></p><p> <b>In the quarter ended June 30, 2021:</b></p><p><blockquote><b>截至2021年6月30日的季度：</b></blockquote></p><p> <ul>  <li><b>Revenue</b>&nbsp;was RMB205,740 million (US$31,865 million), an increase of 34% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 22% year-over-year to RMB187,306 million (US$29,010 million).</li>  <li><b>Annual active consumers</b>of the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended June 30, 2021, an increase of 45 million from the twelve months ended March 31, 2021. This includes 912 million consumers in China1and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.</li>  <li><b>Income from operations</b>&nbsp;was RMB30,847 million (US$4,778 million), a decrease of 11% year-over-year.<b>Adjusted EBITDA</b>, a non-GAAP measurement, decreased 5% year-over-year to RMB48,628 million (US$7,532 million).<b>Adjusted EBITA</b>, a non-GAAP measurement, decreased 8% year-over-year to RMB41,731 million (US$6,463 million). The year-over-year decreases were primarily due to our investments in strategic areas to capture incremental opportunities, such as Community Marketplaces, Taobao Deals, Local Consumer Services and Lazada, as well as our increased spending on growth initiatives within China retail marketplaces, such as Idle Fish and Taobao Live, and our support to merchants.</li>  <li><b>Net income attributable to ordinary shareholders</b>&nbsp;was RMB45,141 million (US$6,991 million),and<b>net income</b>was RMB42,835 million (US$6,634 million).<b>Non-GAAP net income</b>&nbsp;was RMB43,441 million (US$6,728 million), an increase of 10% year-over-year, mainly due to an increase in share of profit of equity method investees.</li>  <li><b>Diluted earnings per ADS</b>&nbsp;was RMB16.38 (US$2.54) and<b>diluted earnings per share</b>was RMB2.05 (US$0.32 or HK$2.46).<b>Non-GAAP diluted earnings per ADS</b>was RMB16.60 (US$2.57), an increase of 12% year-over-year and<b>non-GAAP diluted earnings per share</b>was RMB2.08 (US$0.32 or HK$2.50), an increase of 12% year-over-year.</li>  <li><b>Net cashprovided by operating activities</b>&nbsp;was RMB33,603 million (US$5,204 million).<b>Non-GAAP free cash flow</b>was RMB20,683 million (US$3,203 million), a decrease compared to RMB36,570 million in the same quarter of 2020, mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million fine levied earlier this year by China’s State Administration for Market Regulation pursuant to China’s Anti-monopoly Law (the “Anti-monopoly Fine”) and a decrease in profit as a result of our investments in key strategic areas.</li> </ul> <img src=\"https://static.tigerbbs.com/11aa08a1ccb4f80e6867c7e7631297c8\" tg-width=\"719\" tg-height=\"863\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li><b>收入</b>为人民币2,057.40百万元（318.65亿美元），同比增长34%。如果不包括合并高鑫，我们的收入将同比增长22%至人民币1,873.06亿元（290.1亿美元）。</li><li><b>年度活跃消费者</b>截至2021年6月30日止十二个月，全球阿里巴巴-SW生态系统的总用户数达到约11.8亿，较截至2021年3月31日止十二个月增加4500万。这包括Lazada、全球速卖通、Trendyol和Daraz服务的中国9.12亿消费者1和海外2.65亿消费者。</li><li><b>营业收入</b>为人民币308.47亿元（47.78亿美元），同比下降11%。<b>调整后EBITDA</b>根据非公认会计准则衡量，同比下降5%至人民币486.28亿元（75.32亿美元）。<b>调整后EBITA</b>根据非公认会计准则衡量，同比下降8%至人民币417.31亿元（64.63亿美元）。同比下降主要是由于我们在战略领域的投资以捕捉增量机会，例如社区市场、淘宝交易、本地消费者服务和Lazada，以及我们在中国零售市场增长计划上的支出增加，例如闲鱼和淘宝直播，以及我们对商家的支持。</li><li><b>归属于普通股股东的净利润</b>为人民币451.41亿元（69.91亿美元），及<b>净收入</b>为人民币428.35亿元（66.34亿美元）。<b>非公认会计准则净利润</b>为人民币434.41亿元（67.28亿美元），同比增长10%，主要是由于权益法被投资方利润份额增加。</li><li><b>每股美国存托凭证摊薄收益</b>为人民币16.38元（2.54美元）<b>每股摊薄盈利</b>为人民币2.05元（0.32美元或2.46港元）。<b>非公认会计准则每股美国存托凭证摊薄收益</b>为人民币16.60元（2.57美元），同比增长12%<b>非公认会计准则稀释每股收益</b>为人民币2.08元（0.32美元或2.50港元），同比增长12%。</li><li><b>经营活动提供的现金净额</b>为人民币336.03亿元（52.04亿美元）。<b>非公认会计准则自由现金流</b>为人民币206.83亿元（32.03亿美元），较2020年同季度的人民币365.70亿元有所下降，主要是由于部分结清了今年早些时候中国国家市场监督管理总局根据中国反垄断法征收的人民币182.28亿元罚款（“反垄断法罚款”）中的人民币91.14亿元（14.12亿美元）以及我们在关键战略领域的投资导致利润减少。</li></ul></blockquote></p><p> <b>China Retail Marketplaces</b></p><p><blockquote><b>中国零售市场</b></blockquote></p><p> In June 2021, Alibaba's China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million.</p><p><blockquote>2021年6月，阿里巴巴-SW中国零售市场的移动月活跃用户数为9.39亿，季度净增1400万。</blockquote></p><p> <b>Cloud Computing</b></p><p><blockquote><b>云计算</b></blockquote></p><p> In the June 2021 quarter, our cloud computing revenue grew 29% year-over-year to RMB16,051 million (US$2,486 million), primarily driven by robust growth in revenue from customers in the Internet, financial services and retail industries.</p><p><blockquote>2021年6月季度，我们的云计算收入同比增长29%至人民币160.51亿元（24.86亿美元），主要得益于互联网、金融服务和零售行业客户收入的强劲增长。</blockquote></p><p> <b>Cash Flow from Operating Activities and Free Cash Flow</b></p><p><blockquote><b>经营活动产生的现金流量和自由现金流量</b></blockquote></p><p> In the quarter ended June 30, 2021, net cash provided by operating activities was RMB33,603 million (US$5,204 million), a decrease compared to RMB50,099 million in the same quarter of 2020. Free cash flow, a non-GAAP measurement of liquidity, decreased to RMB20,683 million (US$3,203 million), from RMB36,570 million in the same quarter of 2020. The year-over-year decreases were mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million Anti-monopoly Fine and a decrease in profit as a result of our investments in key strategic areas. A reconciliation of net cash provided by operating activities to free cash flow is included at the end of this results announcement.</p><p><blockquote>截至2021年6月30日的季度，经营活动提供的净现金为人民币336.03亿元（52.04亿美元），较2020年同季度的人民币500.99亿元有所下降。自由现金流（衡量流动性的非公认会计准则衡量标准）从2020年同季度的人民币365.7亿元下降至人民币206.83亿元（32.03亿美元）。同比下降主要是由于部分和解了人民币182.28亿元的反垄断罚款中的人民币91.14亿元（14.12亿美元），以及我们在关键战略领域的投资导致利润减少。经营活动提供的净现金与自由现金流的调节表包含在本业绩公告的末尾。</blockquote></p><p> <b>Increasing Share Repurchases</b></p><p><blockquote><b>增加股票回购</b></blockquote></p><p> Since April 1, 2021 and through the publication of this results announcement, we repurchased approximately 18.1 million of our ADSs (the equivalent of approximately 144.5 million of our ordinary shares) for approximately US$3,680 million under our share repurchase program. In addition, on August 2, 2021, our board of directors authorized the Company to upsize our Company's share repurchase program from US$10 billion to US$15 billion. This share repurchase program will be effective through the end of 2022.</p><p><blockquote>自2021年4月1日起及透过刊发本业绩公告，我们根据股份回购计划以约36.8亿美元回购约18.1百万股美国存讬股（相当于约144.5百万股普通股）。此外，2021年8月2日，我们的董事会授权公司将我们公司的股票回购计划规模从100亿美元扩大到150亿美元。该股票回购计划将于2022年底生效。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/58bf53593de78f5f6e4fa1096d7aae94\" tg-width=\"757\" tg-height=\"793\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”</p><p><blockquote>我们正在将股票回购计划从100亿美元增加到150亿美元，这是公司历史上最大的股票回购计划，因为我们对我们的长期增长前景充满信心。我们的净现金状况仍然强劲，自2021年4月1日以来，我们已回购了约37亿美元的ADS。”</blockquote></p><p> In June 2021, our China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million. We continue to increase penetration in less-developed areas, reflecting our success in broadening product offerings to meet diverse consumer demand.</p><p><blockquote>2021年6月，我们的中国零售市场拥有9.39亿移动月活跃用户数，季度净增1400万。我们继续提高在欠发达地区的渗透率，反映我们在扩大产品供应以满足多样化消费者需求方面取得的成功。</blockquote></p><p> “Alibaba started the new fiscal year by delivering a healthy quarter. For the June quarter, global annual active consumers across the Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the March quarter, which includes 912 million consumers in China. Over more than twenty years of growth, we have developed a company that spans across both consumer and industrial Internet, with multiple engines driving our long-term growth,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “We believe in the growth of the Chinese economy and long-term value creation of Alibaba, and we will continue to strengthen our technology advantage in improving the consumer experience and helping our enterprise customers to accomplish successful digital transformations.”</p><p><blockquote>张勇集团董事长兼首席执行官阿里巴巴-SW表示：“阿里巴巴-SW以健康的季度开局新财年。在6月季度，阿里巴巴-SW生态系统的全球年度活跃消费者达到11.8亿，比3月季度增加了4500万，其中包括9.12亿中国消费者。经过二十多年的增长，我们已经发展出一家横跨消费互联网和工业互联网的公司，多个引擎推动我们的长期增长。”“我们相信中国经济的增长和阿里巴巴-SW的长期价值创造，我们将继续加强我们在改善消费者体验和帮助企业客户成功完成数字化转型方面的技术优势。”</blockquote></p><p> “We delivered strong revenue growth of 34% year-over-year. As we said in last quarter's results announcement, we are investing our excess profits and additional capital to support our merchants and invest in strategic areas to better serve customers and penetrate into new addressable markets,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”</p><p><blockquote>“我们实现了34%的强劲收入增长。正如我们在上季度业绩公告中所说，我们正在投资超额利润和额外资本来支持我们的商家，并投资于战略领域，以更好地服务客户并渗透到新的潜在市场，”阿里巴巴-SW集团首席财务官Maggie Wu表示。“我们正在将股票回购计划从100亿美元增加到150亿美元，这是公司历史上最大的股票回购计划，因为我们对我们的长期增长前景充满信心。我们的净现金状况仍然强劲，自2021年4月1日以来，我们已经回购了约37亿美元的ADS。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169635195","content_text":"(August 3) Alibaba posted financial result in premarket, which showed that:\nAlibaba Q1 revenue RMB205.74 bln vs. RMB153.75 bln a year ago; FactSet consensus RMB209.11 bln.\nAlibaba Q1 adj. EPS RMB16.60 vs. RMB14.82 a year ago; FactSet consensus RMB14.33.\nBUSINESS HIGHLIGHTS\nIn the quarter ended June 30, 2021:\n\nRevenue was RMB205,740 million (US$31,865 million), an increase of 34% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 22% year-over-year to RMB187,306 million (US$29,010 million).\nAnnual active consumersof the Alibaba Ecosystem across the world reached approximately 1.18 billion for the twelve months ended June 30, 2021, an increase of 45 million from the twelve months ended March 31, 2021. This includes 912 million consumers in China1and 265 million consumers overseas served by Lazada, AliExpress, Trendyol and Daraz.\nIncome from operations was RMB30,847 million (US$4,778 million), a decrease of 11% year-over-year.Adjusted EBITDA, a non-GAAP measurement, decreased 5% year-over-year to RMB48,628 million (US$7,532 million).Adjusted EBITA, a non-GAAP measurement, decreased 8% year-over-year to RMB41,731 million (US$6,463 million). The year-over-year decreases were primarily due to our investments in strategic areas to capture incremental opportunities, such as Community Marketplaces, Taobao Deals, Local Consumer Services and Lazada, as well as our increased spending on growth initiatives within China retail marketplaces, such as Idle Fish and Taobao Live, and our support to merchants.\nNet income attributable to ordinary shareholders was RMB45,141 million (US$6,991 million),andnet incomewas RMB42,835 million (US$6,634 million).Non-GAAP net income was RMB43,441 million (US$6,728 million), an increase of 10% year-over-year, mainly due to an increase in share of profit of equity method investees.\nDiluted earnings per ADS was RMB16.38 (US$2.54) anddiluted earnings per sharewas RMB2.05 (US$0.32 or HK$2.46).Non-GAAP diluted earnings per ADSwas RMB16.60 (US$2.57), an increase of 12% year-over-year andnon-GAAP diluted earnings per sharewas RMB2.08 (US$0.32 or HK$2.50), an increase of 12% year-over-year.\nNet cashprovided by operating activities was RMB33,603 million (US$5,204 million).Non-GAAP free cash flowwas RMB20,683 million (US$3,203 million), a decrease compared to RMB36,570 million in the same quarter of 2020, mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million fine levied earlier this year by China’s State Administration for Market Regulation pursuant to China’s Anti-monopoly Law (the “Anti-monopoly Fine”) and a decrease in profit as a result of our investments in key strategic areas.\n\n\nChina Retail Marketplaces\nIn June 2021, Alibaba's China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million.\nCloud Computing\nIn the June 2021 quarter, our cloud computing revenue grew 29% year-over-year to RMB16,051 million (US$2,486 million), primarily driven by robust growth in revenue from customers in the Internet, financial services and retail industries.\nCash Flow from Operating Activities and Free Cash Flow\nIn the quarter ended June 30, 2021, net cash provided by operating activities was RMB33,603 million (US$5,204 million), a decrease compared to RMB50,099 million in the same quarter of 2020. Free cash flow, a non-GAAP measurement of liquidity, decreased to RMB20,683 million (US$3,203 million), from RMB36,570 million in the same quarter of 2020. The year-over-year decreases were mainly due to the partial settlement in the amount of RMB9,114 million (US$1,412 million) of the RMB18,228 million Anti-monopoly Fine and a decrease in profit as a result of our investments in key strategic areas. A reconciliation of net cash provided by operating activities to free cash flow is included at the end of this results announcement.\nIncreasing Share Repurchases\nSince April 1, 2021 and through the publication of this results announcement, we repurchased approximately 18.1 million of our ADSs (the equivalent of approximately 144.5 million of our ordinary shares) for approximately US$3,680 million under our share repurchase program. In addition, on August 2, 2021, our board of directors authorized the Company to upsize our Company's share repurchase program from US$10 billion to US$15 billion. This share repurchase program will be effective through the end of 2022.\n\nWe are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”\nIn June 2021, our China retail marketplaces had 939 million mobile MAUs, representing a quarterly net increase of 14 million. We continue to increase penetration in less-developed areas, reflecting our success in broadening product offerings to meet diverse consumer demand.\n“Alibaba started the new fiscal year by delivering a healthy quarter. For the June quarter, global annual active consumers across the Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the March quarter, which includes 912 million consumers in China. Over more than twenty years of growth, we have developed a company that spans across both consumer and industrial Internet, with multiple engines driving our long-term growth,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “We believe in the growth of the Chinese economy and long-term value creation of Alibaba, and we will continue to strengthen our technology advantage in improving the consumer experience and helping our enterprise customers to accomplish successful digital transformations.”\n“We delivered strong revenue growth of 34% year-over-year. As we said in last quarter's results announcement, we are investing our excess profits and additional capital to support our merchants and invest in strategic areas to better serve customers and penetrate into new addressable markets,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “We are increasing our share repurchase program from US$10 billion to US$15 billion, the largest share repurchase program in the Company’s history, because we are confident of our long-term growth prospects. Our net cash position remains strong and we have repurchased approximately US$3.7 billion of our ADSs since April 1, 2021.”","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800660193,"gmtCreate":1627298524712,"gmtModify":1631892560627,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment&nbsp;","listText":"Please like this comment&nbsp;","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/800660193","repostId":"1151724613","repostType":4,"repost":{"id":"1151724613","kind":"news","pubTimestamp":1627292512,"share":"https://www.laohu8.com/m/news/1151724613?lang=zh_CN&edition=full","pubTime":"2021-07-26 17:41","market":"us","language":"en","title":"Tesla Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151724613","media":"Barrons","summary":"Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.\nThe ","content":"<p>Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.</p><p><blockquote>特斯拉将于周一公布第二季度收益。准备好一份非常复杂的报告。</blockquote></p><p> The EV pioneer will report after the close of trading on Monday, July 26. Wall Street is looking for Tesla (ticker: TSLA) to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.</p><p><blockquote>这家电动汽车先驱将于7月26日星期一收盘后发布报告。FactSet的数据显示，华尔街预计特斯拉（股票代码：TSLA）的销售额为115亿美元，每股收益约为94美分。对于任何股票在财报后交易中保持稳定来说，超出分析师预期非常重要，几乎是必需的。特斯拉也是如此。</blockquote></p><p> There will be a lot of moving parts, however, even more than usual for the world’s most valuable&nbsp;car company&nbsp;and its iconoclast CEO&nbsp;Elon Musk.</p><p><blockquote>然而，对于这家世界上最有价值的汽车公司及其打破传统的首席执行官埃隆·马斯克来说，将会有很多活动部件，甚至比平时更多。</blockquote></p><p> Factors that will contribute to bottom-line earnings include the global&nbsp;semiconductor&nbsp;shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.</p><p><blockquote>影响底线收益的因素包括全球半导体短缺、汽车定价、汽车毛利率以及特斯拉电池存储业务的盈利水平。然而，最终，投资者将希望看到营业利润创纪录——无论它如何发生。这可能会使股价突破近期区间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d908f359ce3333ed256684e007ff74d0\" tg-width=\"871\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Tesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.</p><p><blockquote>特斯拉公布2020年第三季度营业利润超过8亿美元，该股在随后的三个月内上涨了一倍多，达到860美元左右。但由于随后几个季度营业利润增长基本暂停，股价最近已从约860美元跌至约640美元。利润停滞也意味着股票停滞。</blockquote></p><p> The good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered&nbsp;more than 200,000&nbsp;vehicles in a single quarter.</p><p><blockquote>对于特斯拉多头来说，好消息是华尔街预计将创下新纪录：在强劲交付的推动下，第二季度营业利润预计为8.35亿美元。2021年第二季度是特斯拉单季度交付量首次超过20万辆。</blockquote></p><p> After earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla&nbsp;beat earnings&nbsp;estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.</p><p><blockquote>在盈利被消化后，多头和空头之间应该会对盈利质量争论不休。例如，特斯拉创造销售的一种方式是出售监管信用——它通过生产超过其公平份额的电动汽车来赚取监管信用。该公司第一季度信贷销售额为5.18亿美元，这帮助特斯拉超出了盈利预期。关于什么是“正常”的信贷销售金额以及这些销售何时会枯竭，一直存在争议。最终，多头和空头都预计其他汽车制造商将销售自己的电动汽车，从而切断特斯拉的收入来源。</blockquote></p><p> There is also the issue&nbsp;of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.</p><p><blockquote>还有比特币的问题。特斯拉第一季度比特币持有量小幅增长，但该加密货币的价格自4月份的峰值以来已下跌约一半。这意味着有可能会有一点损失。投资者的反应谁也说不准，但不要指望特斯拉会抛售其比特币头寸。马斯克继续表示，当比特币矿业使用更可持续的电力时，他的公司将以加密货币进行交易。</blockquote></p><p> Investors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s&nbsp;Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software&nbsp;as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its&nbsp;charging network&nbsp;to other EVs down the road.</p><p><blockquote>投资者还想知道特斯拉的新德国工厂和德克萨斯奥斯丁工厂何时开始交付汽车。奥斯丁工厂将生产特斯拉的Cybertruck。人们还可能会对特斯拉驾驶辅助功能的进步产生疑问——该公司最近开始以订阅形式销售其驾驶辅助软件——以及该公司可以从其充电网络中赚多少钱。马斯克本周在推特上表示，特斯拉将向其他电动汽车开放其充电网络。</blockquote></p><p> Those topics and more should be discussed on the earnings&nbsp;conference call&nbsp;scheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.</p><p><blockquote>这些话题以及更多话题应该在定于下午5:30举行的收益电话会议上讨论。美国东部时间周一。今年迄今为止，特斯拉股价已下跌约9%，落后于标准普尔500指数和道琼斯工业平均指数分别17%和15%的涨幅。尽管如此，特斯拉股价仍表现强劲，在过去12个月内上涨了约112%。</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 Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</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\">\nTesla Reports Earnings Today. Here's What Matters Most.<blockquote>特斯拉今天公布财报。这是最重要的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-26 17:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.</p><p><blockquote>特斯拉将于周一公布第二季度收益。准备好一份非常复杂的报告。</blockquote></p><p> The EV pioneer will report after the close of trading on Monday, July 26. Wall Street is looking for Tesla (ticker: TSLA) to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.</p><p><blockquote>这家电动汽车先驱将于7月26日星期一收盘后发布报告。FactSet的数据显示，华尔街预计特斯拉（股票代码：TSLA）的销售额为115亿美元，每股收益约为94美分。对于任何股票在财报后交易中保持稳定来说，超出分析师预期非常重要，几乎是必需的。特斯拉也是如此。</blockquote></p><p> There will be a lot of moving parts, however, even more than usual for the world’s most valuable&nbsp;car company&nbsp;and its iconoclast CEO&nbsp;Elon Musk.</p><p><blockquote>然而，对于这家世界上最有价值的汽车公司及其打破传统的首席执行官埃隆·马斯克来说，将会有很多活动部件，甚至比平时更多。</blockquote></p><p> Factors that will contribute to bottom-line earnings include the global&nbsp;semiconductor&nbsp;shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.</p><p><blockquote>影响底线收益的因素包括全球半导体短缺、汽车定价、汽车毛利率以及特斯拉电池存储业务的盈利水平。然而，最终，投资者将希望看到营业利润创纪录——无论它如何发生。这可能会使股价突破近期区间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d908f359ce3333ed256684e007ff74d0\" tg-width=\"871\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Tesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.</p><p><blockquote>特斯拉公布2020年第三季度营业利润超过8亿美元，该股在随后的三个月内上涨了一倍多，达到860美元左右。但由于随后几个季度营业利润增长基本暂停，股价最近已从约860美元跌至约640美元。利润停滞也意味着股票停滞。</blockquote></p><p> The good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered&nbsp;more than 200,000&nbsp;vehicles in a single quarter.</p><p><blockquote>对于特斯拉多头来说，好消息是华尔街预计将创下新纪录：在强劲交付的推动下，第二季度营业利润预计为8.35亿美元。2021年第二季度是特斯拉单季度交付量首次超过20万辆。</blockquote></p><p> After earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla&nbsp;beat earnings&nbsp;estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.</p><p><blockquote>在盈利被消化后，多头和空头之间应该会对盈利质量争论不休。例如，特斯拉创造销售的一种方式是出售监管信用——它通过生产超过其公平份额的电动汽车来赚取监管信用。该公司第一季度信贷销售额为5.18亿美元，这帮助特斯拉超出了盈利预期。关于什么是“正常”的信贷销售金额以及这些销售何时会枯竭，一直存在争议。最终，多头和空头都预计其他汽车制造商将销售自己的电动汽车，从而切断特斯拉的收入来源。</blockquote></p><p> There is also the issue&nbsp;of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.</p><p><blockquote>还有比特币的问题。特斯拉第一季度比特币持有量小幅增长，但该加密货币的价格自4月份的峰值以来已下跌约一半。这意味着有可能会有一点损失。投资者的反应谁也说不准，但不要指望特斯拉会抛售其比特币头寸。马斯克继续表示，当比特币矿业使用更可持续的电力时，他的公司将以加密货币进行交易。</blockquote></p><p> Investors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s&nbsp;Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software&nbsp;as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its&nbsp;charging network&nbsp;to other EVs down the road.</p><p><blockquote>投资者还想知道特斯拉的新德国工厂和德克萨斯奥斯丁工厂何时开始交付汽车。奥斯丁工厂将生产特斯拉的Cybertruck。人们还可能会对特斯拉驾驶辅助功能的进步产生疑问——该公司最近开始以订阅形式销售其驾驶辅助软件——以及该公司可以从其充电网络中赚多少钱。马斯克本周在推特上表示，特斯拉将向其他电动汽车开放其充电网络。</blockquote></p><p> Those topics and more should be discussed on the earnings&nbsp;conference call&nbsp;scheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of the&nbsp;S&amp;P 500&nbsp;and&nbsp;Dow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.</p><p><blockquote>这些话题以及更多话题应该在定于下午5:30举行的收益电话会议上讨论。美国东部时间周一。今年迄今为止，特斯拉股价已下跌约9%，落后于标准普尔500指数和道琼斯工业平均指数分别17%和15%的涨幅。尽管如此，特斯拉股价仍表现强劲，在过去12个月内上涨了约112%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-earnings-preview-51627061822?mod=hp_LEADSUPP_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-earnings-preview-51627061822?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151724613","content_text":"Tesla is set to report second-quarter earnings Monday. Get ready for a very complicated report.\nThe EV pioneer will report after the close of trading on Monday, July 26. Wall Street is looking for Tesla (ticker: TSLA) to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.\nThere will be a lot of moving parts, however, even more than usual for the world’s most valuable car company and its iconoclast CEO Elon Musk.\nFactors that will contribute to bottom-line earnings include the global semiconductor shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.\n\nTesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.\nThe good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered more than 200,000 vehicles in a single quarter.\nAfter earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla beat earnings estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.\nThere is also the issue of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.\nInvestors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its charging network to other EVs down the road.\nThose topics and more should be discussed on the earnings conference call scheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of the S&P 500 and Dow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172954236,"gmtCreate":1626929880525,"gmtModify":1633769617533,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/172954236","repostId":"2153477496","repostType":4,"isVote":1,"tweetType":1,"viewCount":182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806500301,"gmtCreate":1627662218003,"gmtModify":1631892560222,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/806500301","repostId":"1109908934","repostType":4,"isVote":1,"tweetType":1,"viewCount":406,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177880091,"gmtCreate":1627194943013,"gmtModify":1631892560649,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment&nbsp;","listText":"Please like this comment&nbsp;","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177880091","repostId":"2153878189","repostType":4,"isVote":1,"tweetType":1,"viewCount":295,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177817964,"gmtCreate":1627194901658,"gmtModify":1631893571996,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment&nbsp;","listText":"Please like this comment&nbsp;","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/177817964","repostId":"1176552691","repostType":4,"repost":{"id":"1176552691","kind":"news","pubTimestamp":1627183789,"share":"https://www.laohu8.com/m/news/1176552691?lang=zh_CN&edition=full","pubTime":"2021-07-25 11:29","market":"us","language":"en","title":"Is IBM Stock Undervalued Or Overvalued? What To Consider<blockquote>IBM股票是被低估还是被高估？要考虑什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176552691","media":"seekingalpha","summary":"Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>IBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.</li>  <li>Prior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.</li>  <li>More transparency is needed regarding the Kyndryl spinoff.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c798e0536c6804d44b195f6f349fab5\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>Ethan Miller/Getty Images News</span></p><p><blockquote><ul><li>随着云收入和营业利润率的改善，IBM第二季度盈利超出了分析师的预期。</li><li>在第一季度之前，IBM连续四个季度收入下降，过去34个季度中有30个季度收入下降。</li><li>Kyndryl分拆需要更多透明度。</li></ul><p class=\"t-img-caption\"><span>伊森·米勒/盖蒂图片社新闻</span></p></blockquote></p><p> International Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.</p><p><blockquote>国际商业机器公司（IBM）是一家转型中的公司。不幸的是，对于投资者来说，这种转变已经持续了十年的大部分时间。这些扭亏为盈的努力包括对云计算和人工智能的投资以及剥离遗留业务。虽然现在有绿芽的迹象，但播下的种子是否落在岩石上还有待观察。</blockquote></p><p> Although the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.</p><p><blockquote>尽管该公司在混合云产品方面拥有快速增长的业务，并在量子计算方面拥有潜在的增长引擎，但它面临着前一个行业的激烈竞争和后一个行业的不确定前景。该公司的大多数其他业务都处于低迷状态，因此IBM的增长前景不明朗。</blockquote></p><p> What is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.</p><p><blockquote>可以肯定的是，截至今天，IBM的债务负担合理且不断减少，自由现金流强劲。</blockquote></p><p> Management is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.</p><p><blockquote>管理层正试图通过专注于公司的云产品来部分解决增长问题，同时剥离其托管基础设施业务。该公司将被命名为Kyndryl。然而，新实体将承担的债务以及其将承担的当前股息部分尚未透露。</blockquote></p><p> <b>Recent Quarterly Results</b></p><p><blockquote><b>最近季度业绩</b></blockquote></p><p> IBM&nbsp;reported&nbsp;Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.</p><p><blockquote>IBM上周一公布了第二季度业绩。该公司的非GAAP每股收益为2.33美元，超出预期0.04美元。</blockquote></p><p> Revenue of $18.7 billion was flat when adjusted for currency and divestitures.</p><p><blockquote>经货币和资产剥离调整后，营收为187亿美元，持平。</blockquote></p><p> The negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.</p><p><blockquote>该报告的负面影响是系统收入下降了7%。然而，这主要是由于正常的IBM Z大型机周期，同比下降13%。</blockquote></p><p> The global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.</p><p><blockquote>全球融资部门在总收入中所占比例较低，下降了9%。全球技术服务约占总收入的三分之一，并将主要分拆为Kyndryl，但增长平缓。</blockquote></p><p> The positive side of the report had Cloud &amp; Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.</p><p><blockquote>该报告的积极一面是云和认知软件云收入增长了29%，全球商业服务云收入增长了35%。过去12个月，云总收入为270亿美元，增长了15%，而本季度云收入增长了13%，达到70亿美元。</blockquote></p><p> Net cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.</p><p><blockquote>过去12个月，经营活动产生的净现金达到177亿美元，调整后的自由现金流总计110亿美元。</blockquote></p><p> Since year-end 2020, the company has reduced debt by $6.4 billion.</p><p><blockquote>自2020年底以来，该公司已减少债务64亿美元。</blockquote></p><p> Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021.</p><p><blockquote>2021年调整后自由现金流110亿至120亿美元的管理指南。</blockquote></p><p> <b>Where IBM Stands Tall</b></p><p><blockquote><b>IBM屹立不倒的地方</b></blockquote></p><p> IBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.</p><p><blockquote>许多人认为IBM往好了说是一家三流IT公司，往坏了说是一只濒临灭绝的恐龙。</blockquote></p><p> It is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.</p><p><blockquote>很明显，该公司的收入多年来一直在下降；然而，为了准确评估该股票，投资者必须了解IBM的传统业务有许多优势。</blockquote></p><p> For example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.</p><p><blockquote>例如，IBM是世界上最大的IT服务公司，也是大型机的主要提供商。在财富50强公司中，有47家是IBM的客户。</blockquote></p><p> Half of the world’s wireless connections are handled by the firm.</p><p><blockquote>世界上一半的无线连接由该公司处理。</blockquote></p><p> IBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.</p><p><blockquote>IBM的大型机系统处理全球近90%的信用卡交易，97%的全球最大银行依赖IBM的产品和服务。因此，每年使用IBM系统处理290亿笔ATM交易。</blockquote></p><p> Eight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.</p><p><blockquote>十分之八的全球零售商依赖IBM的产品和服务，而80%的旅游业预订通过IBM系统进行。这导致使用该公司的IT服务处理40亿次航班预订。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ace4f1436fd2697c5ad266b5017e1dd\" tg-width=\"960\" tg-height=\"721\" width=\"100%\" height=\"auto\"><span>Source: Forbes</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：福布斯</span></p></blockquote></p><p> It is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.</p><p><blockquote>很明显，IBM拥有庞大的客户群，提供了大规模的经常性收入。在许多情况下，转向竞争对手的产品意味着冒着敏感信息转移的风险，而许多人不愿意采取这一举措。</blockquote></p><p> However, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.</p><p><blockquote>然而，随着向云服务和开源软件的过渡，越来越多的公司采用混合搭配的IT基础设施。反过来，这正在侵蚀IBM与客户转换成本相关的竞争优势。</blockquote></p><p> <b>The Sources Of Potential Growth</b></p><p><blockquote><b>潜在增长的来源</b></blockquote></p><p></p><p> Investors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh&nbsp;provided insight&nbsp;into how hybrid cloud drives revenue in some of IBM’s other divisions.</p><p><blockquote>投资者普遍了解IBM通过其混合云产品推动增长的努力。然而，在摩根大通最近的投资者会议上，首席财务官吉姆·卡瓦诺（Jim Kavanaugh）就混合云如何推动IBM其他一些部门的收入提供了见解。</blockquote></p><p>   For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.  Of course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.</p><p><blockquote>我们在混合云平台上每投入1美元（业务），我们就会看到3到5美元的软件拖累和6到8美元的服务拖累。当然，Kavanaugh使用drag来指的是与采用IBM混合云相关的软件和服务收入的增加。如果卡瓦诺的说法准确，这意味着在该公司混合云平台上花费的每一美元都可以从该公司的软件和服务产品中获得9至13美元的额外收入。</blockquote></p><p> Because hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.</p><p><blockquote>由于混合云混合使用内部私有云和公共云服务，因此它为客户提供了一定程度的数据隐私。这是医疗保健和金融服务客户特别关注的问题。因此，我认为IBM在与其他混合云提供商的竞争中可能具有优势，因为它在这些行业中拥有广泛的关系。</blockquote></p><p> I reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm&nbsp;forecasts&nbsp;a CAGR of 18.73% from 2021 through 2026.</p><p><blockquote>我回顾了关于混合云市场预计增长率的各种预测。最近的研究，也属于其他预测的中间，是由魔多情报局进行的。该公司预测2021年至2026年的复合年增长率为18.73%。</blockquote></p><p> Investors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.</p><p><blockquote>投资者应该知道，该领域的主要运营商是思科(CSCO)、惠普(HPE)、亚马逊(AMZN)、思杰系统(CTXS)和IBM。</blockquote></p><p> The following chart provides a record of the firm’s total cloud growth over the last six quarters.</p><p><blockquote>下图提供了该公司过去六个季度的总云增长记录。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fc85156e70f6caf8ae809f76126a723\" tg-width=\"576\" tg-height=\"336\" width=\"100%\" height=\"auto\"><span>Source: Company reports / Chart by Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司报告/作者图表</span></p></blockquote></p><p> Aside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.</p><p><blockquote>除了云之外，还有另一个潜在增长的来源，尽管它不太可能很快实现。</blockquote></p><p> Early in 2019, IBM&nbsp;introduced&nbsp;the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.</p><p><blockquote>2019年初，IBM推出了Q System One。IBM Q systems是世界上第一台为科学和商业用途而设计的量子计算机。</blockquote></p><p> Pardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence&nbsp;forecasts&nbsp;a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.</p><p><blockquote>原谅我的双关语，但量子计算机代表了技术的巨大飞跃。Prescient And Strategic Intelligence预测，到2030年，该行业的CAGR将达到56%，量子计算机市场份额将达到近650亿美元。</blockquote></p><p> For additional insights regarding quantum computing and IBM’s position within that industry, I point you to&nbsp;my article, “IBM: Why My Eye Is Fixed On Big Blue.”</p><p><blockquote>有关量子计算和IBM在该行业中的地位的更多见解，我向您推荐我的文章“IBM：为什么我的眼睛盯着蓝色巨人”。</blockquote></p><p> <b>Understanding Kyndryl</b></p><p><blockquote><b>了解Kyndryl</b></blockquote></p><p> Once&nbsp;Kyndryl&nbsp;is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.</p><p><blockquote>Kyndryl一旦上市，将在115个国家拥有9万多名员工和4600多家客户。新实体的服务积压量为600亿美元，预计收入为190亿美元。该公司的规模是最接近的竞争对手的两倍，将成为全球最大的托管基础设施服务提供商。</blockquote></p><p> The split will&nbsp;transform&nbsp;IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.</p><p><blockquote>此次分拆将使IBM从一家一半收入来自服务的公司转变为一家软件和解决方案业务经常性收入超过一半的公司。</blockquote></p><p> Global Business Services, which currently constitutes 22% of the company’s revenue, will&nbsp;account&nbsp;for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.</p><p><blockquote>全球商业服务目前占公司收入的22%，将占销售额的40%以上。值得注意的是，该部门上季度的收入同比增长了12%。</blockquote></p><p> IBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.</p><p><blockquote>IBM将保留Red Hat及其解决方案提供商业务、系统业务、关键任务公共云服务，以及专注于大数据、人工智能和安全的软件组合。</blockquote></p><p> Initially, the two companies will each be the largest customer of the other.</p><p><blockquote>最初，两家公司将各自成为对方的最大客户。</blockquote></p><p> What remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.</p><p><blockquote>关于分拆，尚待了解的是每家公司将承担多少债务，以及公司将支付的股息份额。克里希纳表示，两家公司将共同努力维持目前的支付水平。</blockquote></p><p> <b>Has IBM Turned The Corner?</b></p><p><blockquote><b>IBM转危为安了吗？</b></blockquote></p><p> Anyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.</p><p><blockquote>任何关注IBM的人都知道该公司经历了长期的糟糕业绩。下图提供了该公司过去十四个季度的季度自由现金流记录。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60cc8b82052f97dd449205999ee30711\" tg-width=\"577\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Data from ycharts / chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：数据来自ycharts/作者图表</span></p></blockquote></p><p> While this is not proof positive that the company is back on track, the recent trend is at least encouraging.</p><p><blockquote>虽然这并不能证明该公司重回正轨，但最近的趋势至少令人鼓舞。</blockquote></p><p> In 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.</p><p><blockquote>2020年，IBM产生了108亿美元的自由现金流。2021年调整后自由现金流110亿至120亿美元的管理指南。这不包括与Kyndryl分拆相关的30亿美元结构性影响。</blockquote></p><p> The CEO&nbsp;recently stated&nbsp;he expects IBM to generate $12 billion to $13 billion in FCF in 2022.</p><p><blockquote>这位首席执行官最近表示，他预计IBM将在2022年产生120亿至130亿美元的自由现金流。</blockquote></p><p> <b>Debt And Dividend</b></p><p><blockquote><b>债务和股息</b></blockquote></p><p></p><p> While investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.</p><p><blockquote>虽然投资者可以理所当然地抱怨多年来的各种管理层举措，但该公司在进行多项收购的同时保持了合理的债务状况。</blockquote></p><p> The company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.</p><p><blockquote>自2019年年中达到峰值以来，该公司已将债务减少了约180亿美元。IBM维持投资级信用评级，下图记录了该公司最近偿还债务的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b73e613157c486a5f5e8306546121971\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Source: IBM Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：IBM演示文稿</span></p></blockquote></p><p> IBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.</p><p><blockquote>IBM的收益率为4.64%，派息率略低于61%，5年股息增长率为4.26%。如前所述，Kyndryl分拆后，两家公司将合作提供相当于当前股息的派息。</blockquote></p><p> <b>Is IBM Stock Overvalued?</b></p><p><blockquote><b>IBM股票是否被高估？</b></blockquote></p><p> IBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.</p><p><blockquote>IBM股价交易价格为141.13美元。8位分析师的平均12个月目标价为153.50美元。自上次收益报告以来，对该股进行评级的3位分析师的目标价为151.33美元。</blockquote></p><p> IBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.</p><p><blockquote>IBM的市盈率为24.05倍，远期市盈率为17.67倍。相比之下，其五年平均值分别为16.42倍和13.25倍。这远低于行业平均水平，这两个指标都在三十左右。</blockquote></p><p> The 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.</p><p><blockquote>Seeking Alpha Premium提供的3至5年期PEG为1.16倍。嘉信理财计算的PEG为1.49倍，雅虎没有提供PEG比率。</blockquote></p><p> I believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.</p><p><blockquote>我相信该股目前的市盈率反映了投资者对分拆完成后IBM增长加速的预期。PEG比率显示该股票估值合理。</blockquote></p><p> <b>Is IBM Stock A Good Long-Term Investment?</b></p><p><blockquote><b>IBM股票是一项不错的长期投资吗？</b></blockquote></p><p> IBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.</p><p><blockquote>IBM在全球许多最大的公司中有着根深蒂固但不断发展的地位。不幸的是，被视为该公司主要增长途径的云也可能导致该公司一些遗留业务的缓慢恶化。</blockquote></p><p> That the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.</p><p><blockquote>云业务一直在快速增长是显而易见的：IBM现在拥有超过3,200个客户使用该公司的混合云平台。这几乎是收购红帽之前的四倍。</blockquote></p><p> If management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.</p><p><blockquote>如果管理层的说法准确，混合云平台将为软件和服务部门的收入带来强劲增长。结合Kyndryl缓慢增长的托管基础设施服务业务的分拆，有理由相信IBM将见证增长。</blockquote></p><p> IBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.</p><p><blockquote>IBM拥有稳健的资产负债表和强劲的收益率，当使用PEG比率作为股票估值的基础时，该股的交易价格略有折扣。</blockquote></p><p> All considered, I rate IBM as a BUY.</p><p><blockquote>综合考虑，我对IBM的评级为买入。</blockquote></p><p> I think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.</p><p><blockquote>我认为中短期最糟糕的情况是公司增长缓慢，而投资者则获得相当强劲的股息。</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>Is IBM Stock Undervalued Or Overvalued? What To Consider<blockquote>IBM股票是被低估还是被高估？要考虑什么</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\">\nIs IBM Stock Undervalued Or Overvalued? What To Consider<blockquote>IBM股票是被低估还是被高估？要考虑什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-25 11:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>IBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.</li>  <li>Prior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.</li>  <li>More transparency is needed regarding the Kyndryl spinoff.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c798e0536c6804d44b195f6f349fab5\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>Ethan Miller/Getty Images News</span></p><p><blockquote><ul><li>随着云收入和营业利润率的改善，IBM第二季度盈利超出了分析师的预期。</li><li>在第一季度之前，IBM连续四个季度收入下降，过去34个季度中有30个季度收入下降。</li><li>Kyndryl分拆需要更多透明度。</li></ul><p class=\"t-img-caption\"><span>伊森·米勒/盖蒂图片社新闻</span></p></blockquote></p><p> International Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.</p><p><blockquote>国际商业机器公司（IBM）是一家转型中的公司。不幸的是，对于投资者来说，这种转变已经持续了十年的大部分时间。这些扭亏为盈的努力包括对云计算和人工智能的投资以及剥离遗留业务。虽然现在有绿芽的迹象，但播下的种子是否落在岩石上还有待观察。</blockquote></p><p> Although the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.</p><p><blockquote>尽管该公司在混合云产品方面拥有快速增长的业务，并在量子计算方面拥有潜在的增长引擎，但它面临着前一个行业的激烈竞争和后一个行业的不确定前景。该公司的大多数其他业务都处于低迷状态，因此IBM的增长前景不明朗。</blockquote></p><p> What is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.</p><p><blockquote>可以肯定的是，截至今天，IBM的债务负担合理且不断减少，自由现金流强劲。</blockquote></p><p> Management is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.</p><p><blockquote>管理层正试图通过专注于公司的云产品来部分解决增长问题，同时剥离其托管基础设施业务。该公司将被命名为Kyndryl。然而，新实体将承担的债务以及其将承担的当前股息部分尚未透露。</blockquote></p><p> <b>Recent Quarterly Results</b></p><p><blockquote><b>最近季度业绩</b></blockquote></p><p> IBM&nbsp;reported&nbsp;Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.</p><p><blockquote>IBM上周一公布了第二季度业绩。该公司的非GAAP每股收益为2.33美元，超出预期0.04美元。</blockquote></p><p> Revenue of $18.7 billion was flat when adjusted for currency and divestitures.</p><p><blockquote>经货币和资产剥离调整后，营收为187亿美元，持平。</blockquote></p><p> The negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.</p><p><blockquote>该报告的负面影响是系统收入下降了7%。然而，这主要是由于正常的IBM Z大型机周期，同比下降13%。</blockquote></p><p> The global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.</p><p><blockquote>全球融资部门在总收入中所占比例较低，下降了9%。全球技术服务约占总收入的三分之一，并将主要分拆为Kyndryl，但增长平缓。</blockquote></p><p> The positive side of the report had Cloud &amp; Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.</p><p><blockquote>该报告的积极一面是云和认知软件云收入增长了29%，全球商业服务云收入增长了35%。过去12个月，云总收入为270亿美元，增长了15%，而本季度云收入增长了13%，达到70亿美元。</blockquote></p><p> Net cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.</p><p><blockquote>过去12个月，经营活动产生的净现金达到177亿美元，调整后的自由现金流总计110亿美元。</blockquote></p><p> Since year-end 2020, the company has reduced debt by $6.4 billion.</p><p><blockquote>自2020年底以来，该公司已减少债务64亿美元。</blockquote></p><p> Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021.</p><p><blockquote>2021年调整后自由现金流110亿至120亿美元的管理指南。</blockquote></p><p> <b>Where IBM Stands Tall</b></p><p><blockquote><b>IBM屹立不倒的地方</b></blockquote></p><p> IBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.</p><p><blockquote>许多人认为IBM往好了说是一家三流IT公司，往坏了说是一只濒临灭绝的恐龙。</blockquote></p><p> It is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.</p><p><blockquote>很明显，该公司的收入多年来一直在下降；然而，为了准确评估该股票，投资者必须了解IBM的传统业务有许多优势。</blockquote></p><p> For example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.</p><p><blockquote>例如，IBM是世界上最大的IT服务公司，也是大型机的主要提供商。在财富50强公司中，有47家是IBM的客户。</blockquote></p><p> Half of the world’s wireless connections are handled by the firm.</p><p><blockquote>世界上一半的无线连接由该公司处理。</blockquote></p><p> IBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.</p><p><blockquote>IBM的大型机系统处理全球近90%的信用卡交易，97%的全球最大银行依赖IBM的产品和服务。因此，每年使用IBM系统处理290亿笔ATM交易。</blockquote></p><p> Eight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.</p><p><blockquote>十分之八的全球零售商依赖IBM的产品和服务，而80%的旅游业预订通过IBM系统进行。这导致使用该公司的IT服务处理40亿次航班预订。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ace4f1436fd2697c5ad266b5017e1dd\" tg-width=\"960\" tg-height=\"721\" width=\"100%\" height=\"auto\"><span>Source: Forbes</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：福布斯</span></p></blockquote></p><p> It is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.</p><p><blockquote>很明显，IBM拥有庞大的客户群，提供了大规模的经常性收入。在许多情况下，转向竞争对手的产品意味着冒着敏感信息转移的风险，而许多人不愿意采取这一举措。</blockquote></p><p> However, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.</p><p><blockquote>然而，随着向云服务和开源软件的过渡，越来越多的公司采用混合搭配的IT基础设施。反过来，这正在侵蚀IBM与客户转换成本相关的竞争优势。</blockquote></p><p> <b>The Sources Of Potential Growth</b></p><p><blockquote><b>潜在增长的来源</b></blockquote></p><p></p><p> Investors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh&nbsp;provided insight&nbsp;into how hybrid cloud drives revenue in some of IBM’s other divisions.</p><p><blockquote>投资者普遍了解IBM通过其混合云产品推动增长的努力。然而，在摩根大通最近的投资者会议上，首席财务官吉姆·卡瓦诺（Jim Kavanaugh）就混合云如何推动IBM其他一些部门的收入提供了见解。</blockquote></p><p>   For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.  Of course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.</p><p><blockquote>我们在混合云平台上每投入1美元（业务），我们就会看到3到5美元的软件拖累和6到8美元的服务拖累。当然，Kavanaugh使用drag来指的是与采用IBM混合云相关的软件和服务收入的增加。如果卡瓦诺的说法准确，这意味着在该公司混合云平台上花费的每一美元都可以从该公司的软件和服务产品中获得9至13美元的额外收入。</blockquote></p><p> Because hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.</p><p><blockquote>由于混合云混合使用内部私有云和公共云服务，因此它为客户提供了一定程度的数据隐私。这是医疗保健和金融服务客户特别关注的问题。因此，我认为IBM在与其他混合云提供商的竞争中可能具有优势，因为它在这些行业中拥有广泛的关系。</blockquote></p><p> I reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm&nbsp;forecasts&nbsp;a CAGR of 18.73% from 2021 through 2026.</p><p><blockquote>我回顾了关于混合云市场预计增长率的各种预测。最近的研究，也属于其他预测的中间，是由魔多情报局进行的。该公司预测2021年至2026年的复合年增长率为18.73%。</blockquote></p><p> Investors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.</p><p><blockquote>投资者应该知道，该领域的主要运营商是思科(CSCO)、惠普(HPE)、亚马逊(AMZN)、思杰系统(CTXS)和IBM。</blockquote></p><p> The following chart provides a record of the firm’s total cloud growth over the last six quarters.</p><p><blockquote>下图提供了该公司过去六个季度的总云增长记录。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fc85156e70f6caf8ae809f76126a723\" tg-width=\"576\" tg-height=\"336\" width=\"100%\" height=\"auto\"><span>Source: Company reports / Chart by Author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司报告/作者图表</span></p></blockquote></p><p> Aside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.</p><p><blockquote>除了云之外，还有另一个潜在增长的来源，尽管它不太可能很快实现。</blockquote></p><p> Early in 2019, IBM&nbsp;introduced&nbsp;the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.</p><p><blockquote>2019年初，IBM推出了Q System One。IBM Q systems是世界上第一台为科学和商业用途而设计的量子计算机。</blockquote></p><p> Pardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence&nbsp;forecasts&nbsp;a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.</p><p><blockquote>原谅我的双关语，但量子计算机代表了技术的巨大飞跃。Prescient And Strategic Intelligence预测，到2030年，该行业的CAGR将达到56%，量子计算机市场份额将达到近650亿美元。</blockquote></p><p> For additional insights regarding quantum computing and IBM’s position within that industry, I point you to&nbsp;my article, “IBM: Why My Eye Is Fixed On Big Blue.”</p><p><blockquote>有关量子计算和IBM在该行业中的地位的更多见解，我向您推荐我的文章“IBM：为什么我的眼睛盯着蓝色巨人”。</blockquote></p><p> <b>Understanding Kyndryl</b></p><p><blockquote><b>了解Kyndryl</b></blockquote></p><p> Once&nbsp;Kyndryl&nbsp;is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.</p><p><blockquote>Kyndryl一旦上市，将在115个国家拥有9万多名员工和4600多家客户。新实体的服务积压量为600亿美元，预计收入为190亿美元。该公司的规模是最接近的竞争对手的两倍，将成为全球最大的托管基础设施服务提供商。</blockquote></p><p> The split will&nbsp;transform&nbsp;IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.</p><p><blockquote>此次分拆将使IBM从一家一半收入来自服务的公司转变为一家软件和解决方案业务经常性收入超过一半的公司。</blockquote></p><p> Global Business Services, which currently constitutes 22% of the company’s revenue, will&nbsp;account&nbsp;for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.</p><p><blockquote>全球商业服务目前占公司收入的22%，将占销售额的40%以上。值得注意的是，该部门上季度的收入同比增长了12%。</blockquote></p><p> IBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.</p><p><blockquote>IBM将保留Red Hat及其解决方案提供商业务、系统业务、关键任务公共云服务，以及专注于大数据、人工智能和安全的软件组合。</blockquote></p><p> Initially, the two companies will each be the largest customer of the other.</p><p><blockquote>最初，两家公司将各自成为对方的最大客户。</blockquote></p><p> What remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.</p><p><blockquote>关于分拆，尚待了解的是每家公司将承担多少债务，以及公司将支付的股息份额。克里希纳表示，两家公司将共同努力维持目前的支付水平。</blockquote></p><p> <b>Has IBM Turned The Corner?</b></p><p><blockquote><b>IBM转危为安了吗？</b></blockquote></p><p> Anyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.</p><p><blockquote>任何关注IBM的人都知道该公司经历了长期的糟糕业绩。下图提供了该公司过去十四个季度的季度自由现金流记录。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60cc8b82052f97dd449205999ee30711\" tg-width=\"577\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Data from ycharts / chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：数据来自ycharts/作者图表</span></p></blockquote></p><p> While this is not proof positive that the company is back on track, the recent trend is at least encouraging.</p><p><blockquote>虽然这并不能证明该公司重回正轨，但最近的趋势至少令人鼓舞。</blockquote></p><p> In 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.</p><p><blockquote>2020年，IBM产生了108亿美元的自由现金流。2021年调整后自由现金流110亿至120亿美元的管理指南。这不包括与Kyndryl分拆相关的30亿美元结构性影响。</blockquote></p><p> The CEO&nbsp;recently stated&nbsp;he expects IBM to generate $12 billion to $13 billion in FCF in 2022.</p><p><blockquote>这位首席执行官最近表示，他预计IBM将在2022年产生120亿至130亿美元的自由现金流。</blockquote></p><p> <b>Debt And Dividend</b></p><p><blockquote><b>债务和股息</b></blockquote></p><p></p><p> While investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.</p><p><blockquote>虽然投资者可以理所当然地抱怨多年来的各种管理层举措，但该公司在进行多项收购的同时保持了合理的债务状况。</blockquote></p><p> The company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.</p><p><blockquote>自2019年年中达到峰值以来，该公司已将债务减少了约180亿美元。IBM维持投资级信用评级，下图记录了该公司最近偿还债务的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b73e613157c486a5f5e8306546121971\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Source: IBM Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：IBM演示文稿</span></p></blockquote></p><p> IBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.</p><p><blockquote>IBM的收益率为4.64%，派息率略低于61%，5年股息增长率为4.26%。如前所述，Kyndryl分拆后，两家公司将合作提供相当于当前股息的派息。</blockquote></p><p> <b>Is IBM Stock Overvalued?</b></p><p><blockquote><b>IBM股票是否被高估？</b></blockquote></p><p> IBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.</p><p><blockquote>IBM股价交易价格为141.13美元。8位分析师的平均12个月目标价为153.50美元。自上次收益报告以来，对该股进行评级的3位分析师的目标价为151.33美元。</blockquote></p><p> IBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.</p><p><blockquote>IBM的市盈率为24.05倍，远期市盈率为17.67倍。相比之下，其五年平均值分别为16.42倍和13.25倍。这远低于行业平均水平，这两个指标都在三十左右。</blockquote></p><p> The 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.</p><p><blockquote>Seeking Alpha Premium提供的3至5年期PEG为1.16倍。嘉信理财计算的PEG为1.49倍，雅虎没有提供PEG比率。</blockquote></p><p> I believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.</p><p><blockquote>我相信该股目前的市盈率反映了投资者对分拆完成后IBM增长加速的预期。PEG比率显示该股票估值合理。</blockquote></p><p> <b>Is IBM Stock A Good Long-Term Investment?</b></p><p><blockquote><b>IBM股票是一项不错的长期投资吗？</b></blockquote></p><p> IBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.</p><p><blockquote>IBM在全球许多最大的公司中有着根深蒂固但不断发展的地位。不幸的是，被视为该公司主要增长途径的云也可能导致该公司一些遗留业务的缓慢恶化。</blockquote></p><p> That the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.</p><p><blockquote>云业务一直在快速增长是显而易见的：IBM现在拥有超过3,200个客户使用该公司的混合云平台。这几乎是收购红帽之前的四倍。</blockquote></p><p> If management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.</p><p><blockquote>如果管理层的说法准确，混合云平台将为软件和服务部门的收入带来强劲增长。结合Kyndryl缓慢增长的托管基础设施服务业务的分拆，有理由相信IBM将见证增长。</blockquote></p><p> IBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.</p><p><blockquote>IBM拥有稳健的资产负债表和强劲的收益率，当使用PEG比率作为股票估值的基础时，该股的交易价格略有折扣。</blockquote></p><p> All considered, I rate IBM as a BUY.</p><p><blockquote>综合考虑，我对IBM的评级为买入。</blockquote></p><p> I think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.</p><p><blockquote>我认为中短期最糟糕的情况是公司增长缓慢，而投资者则获得相当强劲的股息。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM"},"source_url":"https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176552691","content_text":"Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.\nPrior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.\nMore transparency is needed regarding the Kyndryl spinoff.\n\nEthan Miller/Getty Images News\nInternational Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.\nAlthough the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.\nWhat is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.\nManagement is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.\nRecent Quarterly Results\nIBM reported Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.\nRevenue of $18.7 billion was flat when adjusted for currency and divestitures.\nThe negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.\nThe global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.\nThe positive side of the report had Cloud & Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.\nNet cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.\nSince year-end 2020, the company has reduced debt by $6.4 billion.\nManagement guides for adjusted free cash flow of $11 billion to $12 billion in 2021.\nWhere IBM Stands Tall\nIBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.\nIt is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.\nFor example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.\nHalf of the world’s wireless connections are handled by the firm.\nIBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.\nEight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.\nSource: Forbes\nIt is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.\nHowever, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.\nThe Sources Of Potential Growth\nInvestors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh provided insight into how hybrid cloud drives revenue in some of IBM’s other divisions.\n\n For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.\n\nOf course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.\nBecause hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.\nI reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm forecasts a CAGR of 18.73% from 2021 through 2026.\nInvestors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.\nThe following chart provides a record of the firm’s total cloud growth over the last six quarters.\nSource: Company reports / Chart by Author\nAside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.\nEarly in 2019, IBM introduced the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.\nPardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence forecasts a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.\nFor additional insights regarding quantum computing and IBM’s position within that industry, I point you to my article, “IBM: Why My Eye Is Fixed On Big Blue.”\nUnderstanding Kyndryl\nOnce Kyndryl is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.\nThe split will transform IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.\nGlobal Business Services, which currently constitutes 22% of the company’s revenue, will account for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.\nIBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.\nInitially, the two companies will each be the largest customer of the other.\nWhat remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.\nHas IBM Turned The Corner?\nAnyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.\nSource: Data from ycharts / chart by author\nWhile this is not proof positive that the company is back on track, the recent trend is at least encouraging.\nIn 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.\nThe CEO recently stated he expects IBM to generate $12 billion to $13 billion in FCF in 2022.\nDebt And Dividend\nWhile investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.\nThe company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.\nSource: IBM Presentation\nIBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.\nIs IBM Stock Overvalued?\nIBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.\nIBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.\nThe 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.\nI believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.\nIs IBM Stock A Good Long-Term Investment?\nIBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.\nThat the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.\nIf management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.\nIBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.\nAll considered, I rate IBM as a BUY.\nI think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.","news_type":1,"symbols_score_info":{"IBM":0.9}},"isVote":1,"tweetType":1,"viewCount":157,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172957899,"gmtCreate":1626929928611,"gmtModify":1631893572073,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this 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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/899696072","repostId":"2157458815","repostType":4,"isVote":1,"tweetType":1,"viewCount":1625,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143313535,"gmtCreate":1625760209627,"gmtModify":1633937577382,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/143313535","repostId":"1162204971","repostType":4,"isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896019757,"gmtCreate":1628532097879,"gmtModify":1631891267888,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/896019757","repostId":"2158447506","repostType":4,"isVote":1,"tweetType":1,"viewCount":2876,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899692877,"gmtCreate":1628176575999,"gmtModify":1631891267949,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment&nbsp;","listText":"Please like this comment&nbsp;","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/899692877","repostId":"2157430168","repostType":4,"isVote":1,"tweetType":1,"viewCount":1288,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807018105,"gmtCreate":1627988548507,"gmtModify":1631892560134,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/807018105","repostId":"1138232884","repostType":4,"isVote":1,"tweetType":1,"viewCount":606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806500299,"gmtCreate":1627662253811,"gmtModify":1631892560183,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/806500299","repostId":"2155159451","repostType":4,"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808615304,"gmtCreate":1627573265808,"gmtModify":1631892560247,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/808615304","repostId":"1179174010","repostType":4,"repost":{"id":"1179174010","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":1627572541,"share":"https://www.laohu8.com/m/news/1179174010?lang=zh_CN&edition=full","pubTime":"2021-07-29 23:29","market":"us","language":"en","title":"Musk confirms Tesla AI Day will be on August 19<blockquote>马斯克确认特斯拉AI Day将于8月19日</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1179174010","media":"Tiger Newspress","summary":"Tesla shares surged more than 5% after Elon Musk confirming Tesla AI Day will be on August 19.Tesla CEO Elon Musk confirmed via tweet on Thursday that the company is holding an AI Day on Aug. 19.While the company did not provide details of the artificial intelligence event, Musk said in a June 21 tweet that the event \"will go over progress with Tesla AI software & hardware, both training & inference\" and that its purpose is recruiting.The focus of the AI event is likely to be around Tesla's self","content":"<p>Tesla shares surged more than 5%&nbsp;after&nbsp;Elon Musk confirming Tesla AI Day will be on August 19.</p><p><blockquote>在Elon Musk确认特斯拉AI Day将于8月19日举行后，特斯拉股价飙升逾5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d2a827bd1090dddc0ac2adc7e3aa9e60\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla CEO Elon Musk confirmed via tweet on Thursday that the company is holding an AI Day on Aug. 19. </p><p><blockquote>特斯拉CEO Elon Musk周四通过推文证实，该公司将于8月19日举办AI Day。</blockquote></p><p> While the company did not provide details of the artificial intelligence event, Musk said in a June 21 tweet that the event \"will go over progress with Tesla AI software &amp; hardware, both training &amp; inference\" and that its purpose is recruiting.</p><p><blockquote>虽然该公司没有提供人工智能活动的细节，但马斯克在6月21日的一条推文中表示，该活动“将回顾特斯拉人工智能软件和硬件的进展，包括训练和推理”，其目的是招聘。</blockquote></p><p> The focus of the AI event is likely to be around Tesla's self-driving technology. Although the system is named Full Self-Driving (FSD), the software is still in beta testing, and the company has said in SEC filings it is not yet fully autonomous.</p><p><blockquote>AI盛会的焦点很可能围绕着特斯拉的自动驾驶技术。尽管该系统被命名为全自动驾驶（FSD），但该软件仍处于beta测试阶段，该公司在SEC文件中表示，它尚未完全自动驾驶。</blockquote></p><p> Tesla's recruiting effort in this area seeks to attract experts in machine learning and computer vision, as well as neural network specialists.</p><p><blockquote>特斯拉在这一领域的招聘工作旨在吸引机器学习和计算机视觉方面的专家，以及神经网络专家。</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>Musk confirms Tesla AI Day will be on August 19<blockquote>马斯克确认特斯拉AI Day将于8月19日</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\">\nMusk confirms Tesla AI Day will be on August 19<blockquote>马斯克确认特斯拉AI Day将于8月19日</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\">2021-07-29 23:29</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tesla shares surged more than 5%&nbsp;after&nbsp;Elon Musk confirming Tesla AI Day will be on August 19.</p><p><blockquote>在Elon Musk确认特斯拉AI Day将于8月19日举行后，特斯拉股价飙升逾5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d2a827bd1090dddc0ac2adc7e3aa9e60\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla CEO Elon Musk confirmed via tweet on Thursday that the company is holding an AI Day on Aug. 19. </p><p><blockquote>特斯拉CEO Elon Musk周四通过推文证实，该公司将于8月19日举办AI Day。</blockquote></p><p> While the company did not provide details of the artificial intelligence event, Musk said in a June 21 tweet that the event \"will go over progress with Tesla AI software &amp; hardware, both training &amp; inference\" and that its purpose is recruiting.</p><p><blockquote>虽然该公司没有提供人工智能活动的细节，但马斯克在6月21日的一条推文中表示，该活动“将回顾特斯拉人工智能软件和硬件的进展，包括训练和推理”，其目的是招聘。</blockquote></p><p> The focus of the AI event is likely to be around Tesla's self-driving technology. Although the system is named Full Self-Driving (FSD), the software is still in beta testing, and the company has said in SEC filings it is not yet fully autonomous.</p><p><blockquote>AI盛会的焦点很可能围绕着特斯拉的自动驾驶技术。尽管该系统被命名为全自动驾驶（FSD），但该软件仍处于beta测试阶段，该公司在SEC文件中表示，它尚未完全自动驾驶。</blockquote></p><p> Tesla's recruiting effort in this area seeks to attract experts in machine learning and computer vision, as well as neural network specialists.</p><p><blockquote>特斯拉在这一领域的招聘工作旨在吸引机器学习和计算机视觉方面的专家，以及神经网络专家。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179174010","content_text":"Tesla shares surged more than 5% after Elon Musk confirming Tesla AI Day will be on August 19.\n\nTesla CEO Elon Musk confirmed via tweet on Thursday that the company is holding an AI Day on Aug. 19. \nWhile the company did not provide details of the artificial intelligence event, Musk said in a June 21 tweet that the event \"will go over progress with Tesla AI software & hardware, both training & inference\" and that its purpose is recruiting.\nThe focus of the AI event is likely to be around Tesla's self-driving technology. Although the system is named Full Self-Driving (FSD), the software is still in beta testing, and the company has said in SEC filings it is not yet fully autonomous.\nTesla's recruiting effort in this area seeks to attract experts in machine learning and computer vision, as well as neural network specialists.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803991488,"gmtCreate":1627399533344,"gmtModify":1631892560581,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/803991488","repostId":"2154199069","repostType":4,"isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803991117,"gmtCreate":1627399514139,"gmtModify":1631892560592,"author":{"id":"3576167962782658","authorId":"3576167962782658","name":"Whinz","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576167962782658","idStr":"3576167962782658"},"themes":[],"htmlText":"Please like this comment","listText":"Please like this comment","text":"Please like this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/803991117","repostId":"1112910553","repostType":4,"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}