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Xyl

Xyl

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2021-12-18

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DaVita authorizes additional $2B share repurchase<blockquote>DaVita授权额外回购20亿美元股票</blockquote>

2021-11-06

Great ariticle, would you like to share it?

@小虎活动:[Halloween Game] Trade or Treat!

2021-10-11

Like

Apple stock rose more than 1% in morning trading<blockquote>苹果股价早盘上涨逾1%</blockquote>

2021-07-25

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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>

2021-06-12

Like and comment

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2021-06-11

Yay!

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2021-06-10

Sad

Most of meme stocks dropped in morning trading<blockquote>大多数模因股票在早盘交易中下跌</blockquote>

2021-05-29

Sigh

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2021-05-05

Good

The 'Perfect Storm' That Led Dogecoin To 60 Cents<blockquote>将狗狗币推至60美分的“完美风暴”</blockquote>

2021-05-04

Good!

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2021-05-01

Good read

1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</blockquote>

2021-04-29

😁😁

Apple rose nearly 3% in premarket trading<blockquote>苹果盘前交易涨近3%</blockquote>

2021-04-29

😁😁

Amazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote>

2021-04-29

[Smile]

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2021-04-26

[Surprised]

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2021-04-13

Great

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2021-04-13

Wow

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2021-04-03

Nice

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2021-03-31

Good

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2021-03-28

Buy

抱歉，原内容已删除

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14:34","market":"us","language":"en","title":"DaVita authorizes additional $2B share repurchase<blockquote>DaVita授权额外回购20亿美元股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189235922","media":"Seeking Alpha","summary":"DaVita  Board of Directors increased the authorization under the existing share repurchase program b","content":"<p><a href=\"https://laohu8.com/S/DVA\">DaVita </a> Board of Directors increased the authorization under the existing share repurchase program by $2B in additional repurchasing authority.</p><p><blockquote><a href=\"https://laohu8.com/S/DVA\">达维塔</a>董事会将现有股票回购计划下的授权增加了20亿美元的额外回购授权。</blockquote></p><p> The amount of shares authorized to be repurchased under the new authorization does not include the amount remaining under the company’s existing share repurchase program authorized on December 10, 2020 .</p><p><blockquote>根据新授权授权回购的股份金额不包括2020年12月10日授权的公司现有股份回购计划下剩余的金额。</blockquote></p><p> Some bearish commentary and rating on the stock 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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\">\nDaVita authorizes additional $2B share repurchase<blockquote>DaVita授权额外回购20亿美元股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-18 14:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/DVA\">DaVita </a> Board of Directors increased the authorization under the existing share repurchase program by $2B in additional repurchasing authority.</p><p><blockquote><a href=\"https://laohu8.com/S/DVA\">达维塔</a>董事会将现有股票回购计划下的授权增加了20亿美元的额外回购授权。</blockquote></p><p> The amount of shares authorized to be repurchased under the new authorization does not include the amount remaining under the company’s existing share repurchase program authorized on December 10, 2020 .</p><p><blockquote>根据新授权授权回购的股份金额不包括2020年12月10日授权的公司现有股份回购计划下剩余的金额。</blockquote></p><p> Some bearish commentary and rating on the stock by SA contributor who writes: 'The company appears to be overvalued, and there are several challenges facing the company in the future.'</p><p><blockquote>SA撰稿人对该股发表了一些看跌评论和评级，他写道：“该公司似乎被高估，该公司未来面临几项挑战。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3781473-davita-authorizes-additional-2b-share-repurchase\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DVA":"达维塔保健"},"source_url":"https://seekingalpha.com/news/3781473-davita-authorizes-additional-2b-share-repurchase","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189235922","content_text":"DaVita  Board of Directors increased the authorization under the existing share repurchase program by $2B in additional repurchasing authority.\nThe amount of shares authorized to be repurchased under the new authorization does not include the amount remaining under the company’s existing share repurchase program authorized on December 10, 2020 .\nSome bearish commentary and rating on the stock by SA contributor who writes: 'The company appears to be overvalued, and there are several challenges facing the company in the future.'","news_type":1,"symbols_score_info":{"DVA":0.9}},"isVote":1,"tweetType":1,"viewCount":2962,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":842678340,"gmtCreate":1636175571537,"gmtModify":1636175571720,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/842678340","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2647,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":826999705,"gmtCreate":1633962484237,"gmtModify":1633962484299,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/826999705","repostId":"1104700424","repostType":4,"repost":{"id":"1104700424","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":1633962193,"share":"https://www.laohu8.com/m/news/1104700424?lang=zh_CN&edition=full","pubTime":"2021-10-11 22:23","market":"us","language":"en","title":"Apple stock rose more than 1% in morning trading<blockquote>苹果股价早盘上涨逾1%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104700424","media":"Tiger Newspress","summary":"Apple stock rose more than 1% in morning trading.Apple appealed the Epic Games ruling and asked to p","content":"<p>Apple stock rose more than 1% in morning trading.Apple appealed the Epic Games ruling and asked to put ordered App Store changes on hold.</p><p><blockquote>苹果股价早盘上涨逾1%。苹果对Epic Games的裁决提出上诉，并要求暂停订购的App Store变更。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2d8c8a6a273d3ea37161e8b6b988da92\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The iPhone maker gave notice last Friday (Oct 8) that it will appeal a judge's ruling in its fight with Epic Games ordering the California-based company to stop blocking developers from letting users complete in-app purchases on the Web.</p><p><blockquote>这家iPhone制造商上周五（10月8日）发出通知，将对法官在与Epic Games的斗争中的裁决提出上诉，该裁决命令这家总部位于加州的公司停止阻止开发者让用户在网络上完成应用内购买。</blockquote></p><p> It also asked the judge to put the Dec 9 deadline for App Store rule changes on hold during the appeal, which, if allowed, could keep business as usual for Apple for at least a year.</p><p><blockquote>它还要求法官在上诉期间暂停12月9日App Store规则变更的最后期限，如果允许，苹果的业务可以照常运行至少一年。</blockquote></p><p> The Sept 10 ruling largely vindicated&nbsp;Apple's business model, which&nbsp;charges commissions on developers&nbsp;for App Store transactions, but the judge said Apple must allow direct communication between users and app makers and permit links to the Web to complete transactions.</p><p><blockquote>9月10日的裁决在很大程度上证明了苹果的商业模式是正确的，该模式向开发者收取应用商店交易佣金，但法官表示，苹果必须允许用户和应用程序制造商之间的直接沟通，并允许链接到网络来完成交易。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple stock rose more than 1% in morning trading<blockquote>苹果股价早盘上涨逾1%</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple stock rose more than 1% in morning trading<blockquote>苹果股价早盘上涨逾1%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-11 22:23</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Apple stock rose more than 1% in morning trading.Apple appealed the Epic Games ruling and asked to put ordered App Store changes on hold.</p><p><blockquote>苹果股价早盘上涨逾1%。苹果对Epic Games的裁决提出上诉，并要求暂停订购的App Store变更。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2d8c8a6a273d3ea37161e8b6b988da92\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The iPhone maker gave notice last Friday (Oct 8) that it will appeal a judge's ruling in its fight with Epic Games ordering the California-based company to stop blocking developers from letting users complete in-app purchases on the Web.</p><p><blockquote>这家iPhone制造商上周五（10月8日）发出通知，将对法官在与Epic Games的斗争中的裁决提出上诉，该裁决命令这家总部位于加州的公司停止阻止开发者让用户在网络上完成应用内购买。</blockquote></p><p> It also asked the judge to put the Dec 9 deadline for App Store rule changes on hold during the appeal, which, if allowed, could keep business as usual for Apple for at least a year.</p><p><blockquote>它还要求法官在上诉期间暂停12月9日App Store规则变更的最后期限，如果允许，苹果的业务可以照常运行至少一年。</blockquote></p><p> The Sept 10 ruling largely vindicated&nbsp;Apple's business model, which&nbsp;charges commissions on developers&nbsp;for App Store transactions, but the judge said Apple must allow direct communication between users and app makers and permit links to the Web to complete transactions.</p><p><blockquote>9月10日的裁决在很大程度上证明了苹果的商业模式是正确的，该模式向开发者收取应用商店交易佣金，但法官表示，苹果必须允许用户和应用程序制造商之间的直接沟通，并允许链接到网络来完成交易。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104700424","content_text":"Apple stock rose more than 1% in morning trading.Apple appealed the Epic Games ruling and asked to put ordered App Store changes on hold.\n\nThe iPhone maker gave notice last Friday (Oct 8) that it will appeal a judge's ruling in its fight with Epic Games ordering the California-based company to stop blocking developers from letting users complete in-app purchases on the Web.\nIt also asked the judge to put the Dec 9 deadline for App Store rule changes on hold during the appeal, which, if allowed, could keep business as usual for Apple for at least a year.\nThe Sept 10 ruling largely vindicated Apple's business model, which charges commissions on developers for App Store transactions, but the judge said Apple must allow direct communication between users and app makers and permit links to the Web to complete transactions.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":4341,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":177146042,"gmtCreate":1627189797686,"gmtModify":1631892260222,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177146042","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是世界上第一台专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是世界上第一台专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":3115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186207754,"gmtCreate":1623499075078,"gmtModify":1631892260236,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186207754","repostId":"2142206100","repostType":4,"isVote":1,"tweetType":1,"viewCount":3325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181348699,"gmtCreate":1623375793511,"gmtModify":1631892260250,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Yay!&nbsp;","listText":"Yay!&nbsp;","text":"Yay!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/181348699","repostId":"1184070773","repostType":4,"isVote":1,"tweetType":1,"viewCount":3092,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183589865,"gmtCreate":1623335775857,"gmtModify":1631892260261,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183589865","repostId":"1109265126","repostType":4,"repost":{"id":"1109265126","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":1623335677,"share":"https://www.laohu8.com/m/news/1109265126?lang=zh_CN&edition=full","pubTime":"2021-06-10 22:34","market":"us","language":"en","title":"Most of meme stocks dropped in morning trading<blockquote>大多数模因股票在早盘交易中下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109265126","media":"Tiger Newspress","summary":"(June 10) Most of meme stocks dropped in morning trading.\nGameStop fell about 10%, Baird says GameSt","content":"<p>(June&nbsp;10)&nbsp;Most of meme stocks dropped in morning trading.</p><p><blockquote>（6月10日）大多数模因股票在早盘交易中下跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7f035fcec2fe0d5b172ba455b6163d8c\" tg-width=\"305\" tg-height=\"404\">GameStop&nbsp;fell&nbsp;about&nbsp;10%,&nbsp;Baird says GameStop's turnaround plan remains a mystery, predicts 90% stock decline.</p><p><blockquote>游戏驿站跌约10%，Baird称游戏驿站扭亏为盈计划仍成谜，预计股价下跌90%。</blockquote></p><p> Clover Health Corp&nbsp;fell&nbsp;nearly&nbsp;9%,&nbsp;Investors should back away fromClover Healthafter Reddit traders helped to cause a shortage in the heavily shorted insurance stock, according to Bank of America.</p><p><blockquote>美国银行表示，在Reddit交易员帮助导致严重做空的保险股短缺后，Clover Health Corp下跌近9%，投资者应该远离Clover Health。</blockquote></p><p> The stock closed at $16.92 per share on Wednesday, up more than 120% in June, and briefly traded above $28. The company, which went public through a special purpose acquisition company deal aided by billionaire Chamath Palihapitiya, has become favorite of social media traders in the past week.</p><p><blockquote>该股周三收于每股16.92美元，6月份涨幅超过120%，并一度突破28美元。该公司在亿万富翁Chamath Palihapitiya的帮助下通过特殊目的收购公司交易上市，在过去一周成为社交媒体交易员的最爱。</blockquote></p><p> Bank of America analyst Kevin Fischbeck downgraded the stock to underperform from neutral, saying in a note to clients on Thursday that the fundamentals couldn’t support the stock price.</p><p><blockquote>美国银行分析师Kevin Fischbeck将该股评级从中性下调至表现不佳，他在周四给客户的一份报告中表示，基本面无法支撑股价。</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>Most of meme stocks dropped in morning trading<blockquote>大多数模因股票在早盘交易中下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMost of meme stocks dropped in morning trading<blockquote>大多数模因股票在早盘交易中下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-10 22:34</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(June&nbsp;10)&nbsp;Most of meme stocks dropped in morning trading.</p><p><blockquote>（6月10日）大多数模因股票在早盘交易中下跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7f035fcec2fe0d5b172ba455b6163d8c\" tg-width=\"305\" tg-height=\"404\">GameStop&nbsp;fell&nbsp;about&nbsp;10%,&nbsp;Baird says GameStop's turnaround plan remains a mystery, predicts 90% stock decline.</p><p><blockquote>游戏驿站跌约10%，Baird称游戏驿站扭亏为盈计划仍成谜，预计股价下跌90%。</blockquote></p><p> Clover Health Corp&nbsp;fell&nbsp;nearly&nbsp;9%,&nbsp;Investors should back away fromClover Healthafter Reddit traders helped to cause a shortage in the heavily shorted insurance stock, according to Bank of America.</p><p><blockquote>美国银行表示，在Reddit交易员帮助导致严重做空的保险股短缺后，Clover Health Corp下跌近9%，投资者应该远离Clover Health。</blockquote></p><p> The stock closed at $16.92 per share on Wednesday, up more than 120% in June, and briefly traded above $28. The company, which went public through a special purpose acquisition company deal aided by billionaire Chamath Palihapitiya, has become favorite of social media traders in the past week.</p><p><blockquote>该股周三收于每股16.92美元，6月份涨幅超过120%，并一度突破28美元。该公司在亿万富翁Chamath Palihapitiya的帮助下通过特殊目的收购公司交易上市，在过去一周成为社交媒体交易员的最爱。</blockquote></p><p> Bank of America analyst Kevin Fischbeck downgraded the stock to underperform from neutral, saying in a note to clients on Thursday that the fundamentals couldn’t support the stock price.</p><p><blockquote>美国银行分析师Kevin Fischbeck将该股评级从中性下调至表现不佳，他在周四给客户的一份报告中表示，基本面无法支撑股价。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","GME":"游戏驿站","CLOV":"Clover Health Corp"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109265126","content_text":"(June 10) Most of meme stocks dropped in morning trading.\nGameStop fell about 10%, Baird says GameStop's turnaround plan remains a mystery, predicts 90% stock decline.\nClover Health Corp fell nearly 9%, Investors should back away fromClover Healthafter Reddit traders helped to cause a shortage in the heavily shorted insurance stock, according to Bank of America.\nThe stock closed at $16.92 per share on Wednesday, up more than 120% in June, and briefly traded above $28. The company, which went public through a special purpose acquisition company deal aided by billionaire Chamath Palihapitiya, has become favorite of social media traders in the past week.\nBank of America analyst Kevin Fischbeck downgraded the stock to underperform from neutral, saying in a note to clients on Thursday that the fundamentals couldn’t support the stock price.","news_type":1,"symbols_score_info":{"GME":0.9,"WISH":0.9,"AMC":0.9,"CLOV":0.9}},"isVote":1,"tweetType":1,"viewCount":1367,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137908210,"gmtCreate":1622277756630,"gmtModify":1631892260279,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Sigh","listText":"Sigh","text":"Sigh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/137908210","repostId":"1188611521","repostType":4,"isVote":1,"tweetType":1,"viewCount":3194,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102988453,"gmtCreate":1620173574272,"gmtModify":1631892260285,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/102988453","repostId":"1121437206","repostType":4,"repost":{"id":"1121437206","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1620141918,"share":"https://www.laohu8.com/m/news/1121437206?lang=zh_CN&edition=full","pubTime":"2021-05-04 23:25","market":"us","language":"en","title":"The 'Perfect Storm' That Led Dogecoin To 60 Cents<blockquote>将狗狗币推至60美分的“完美风暴”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1121437206","media":"Benzinga","summary":"Dogecoin's(CRYPTO: DOGE) price increased nearly 55% from its 24-hour low of $0.3838 all the way to t","content":"<p><b>Dogecoin's</b>(CRYPTO: DOGE) price increased nearly 55% from its 24-hour low of $0.3838 all the way to the 60-cent market Tuesday morning, according to CoinMarketCap data. This growth came right after the coinreporteda new all-time high of $0.45 Monday evening.</p><p><blockquote><b>狗狗币的</b>根据CoinMarketCap的数据，（CRYPTO：DOGE）价格从24小时低点0.3838美元上涨近55%，一直上涨至周二上午的60美分。这一增长是在周一晚间CoinReported创下0.45美元的历史新高之后发生的。</blockquote></p><p> <b>What Happened:</b>The uptrend also closely follows Monday's&nbsp;announcementby Dave Kaval — president of Major League Baseball team Oakland Athletics — that the team processed its first Dogecoin payment in exchange for tickets in the league's history. He even invoked the #DogecoinToTheMoon hashtag while linking to the team's announcement about match seats being sold in exchange for the coin.</p><p><blockquote><b>发生了什么：</b>这一上升趋势也紧随美国职业棒球大联盟奥克兰运动家队主席戴夫·卡瓦尔(Dave Kaval)周一宣布，该队处理了联盟历史上首次狗狗币支付以换取门票。他甚至引用了#DogecoinToTheMoon标签，同时链接到球队关于出售比赛席位以换取硬币的公告。</blockquote></p><p> With Tuesday's high of over $76 billion, Dogecoin's market cap surpassed the market capitalization of major companies.&nbsp;Ben Weiss — the&nbsp;CEO and co-founder of cryptocurrency ATM operator operating over 2,300 machines — explained that the primary reason behind Dogecoin's ascent is the current climate in the&nbsp;crypto market overall.</p><p><blockquote>随着周二超过760亿美元的高点，Dogecoin的市值超过了主要公司的市值。运营着2300多台机器的加密货币ATM运营商的首席执行官兼联合创始人Ben Weiss解释说，Dogecoin崛起背后的主要原因是加密市场当前的整体气候。</blockquote></p><p> <b>Why It's Important:</b>Weiss&nbsp;highlighted the promotion of Dogecoin by major personalities such as<b>Tesla Inc</b>(NASDAQ:TSLA) CEO Elon Musk and Mark Cuban are other factors that largely contributed to the coin's price increasing. He also cited the crypto asset becoming more easily obtainable and&nbsp;a more surprising reason.</p><p><blockquote><b>为什么它很重要：</b>韦斯强调了主要人物对狗狗币的推广，例如<b>特斯拉公司</b>（纳斯达克：TSLA）首席执行官Elon Musk和Mark Cuban是在很大程度上导致代币价格上涨的其他因素。他还列举了加密资产变得越来越容易获得以及一个更令人惊讶的原因。</blockquote></p><p> \"Many people view Doge as the 'people's cryptocurrency' because it was created as a joke,\"&nbsp;Weiss said in an email statement.&nbsp;\"Major players and corporations are unlikely to buy in and manipulate the market or understand that it could be a viable currency. Elon has echoed this sentiment. These factors have created a perfect storm for Doge, pumping the price to where it is today.\"</p><p><blockquote>“许多人将Doge视为‘人民的加密货币’，因为它是作为一个笑话创建的，”Weiss在一份电子邮件声明中说，“主要参与者和公司不太可能买入并操纵市场，也不太可能理解它可能是一种可行的货币。埃隆呼应了这种情绪。这些因素为Doge制造了一场完美风暴，将价格推高到今天的水平。”</blockquote></p><p> Dogecoin's rise comes as the total cap of the crypto asset market hasreached$2.3 trillion, making it larger than the market capitalization of any company and possibly any asset except for gold.</p><p><blockquote>狗狗币上涨之际，加密资产市场的总市值已达到2.3万亿美元，超过了任何公司的市值，也可能超过了除黄金以外的任何资产的市值。</blockquote></p><p> Dogecoin itself recentlyreached&nbsp;a&nbsp;market cap of nearly $54.45 billion. And that's a currency the creator of which did not expect to go anywhere, as he showed when hesoldall of his holdings for enough to buy a used Honda Civic in 2015.</p><p><blockquote>狗狗币本身最近的市值达到了近544.5亿美元。这种货币的创造者并不指望它会去任何地方，正如他在2015年出售所有资产足以购买一辆二手本田思域时所展示的那样。</blockquote></p><p> Dogecoin trades around $0.5466 at publication time.</p><p><blockquote>截至发稿时，狗狗币的交易价格约为0.5466美元。</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 'Perfect Storm' That Led Dogecoin To 60 Cents<blockquote>将狗狗币推至60美分的“完美风暴”</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 'Perfect Storm' That Led Dogecoin To 60 Cents<blockquote>将狗狗币推至60美分的“完美风暴”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-05-04 23:25</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Dogecoin's</b>(CRYPTO: DOGE) price increased nearly 55% from its 24-hour low of $0.3838 all the way to the 60-cent market Tuesday morning, according to CoinMarketCap data. This growth came right after the coinreporteda new all-time high of $0.45 Monday evening.</p><p><blockquote><b>狗狗币的</b>根据CoinMarketCap的数据，（CRYPTO：DOGE）价格从24小时低点0.3838美元上涨近55%，一直上涨至周二上午的60美分。这一增长是在周一晚间CoinReported创下0.45美元的历史新高之后发生的。</blockquote></p><p> <b>What Happened:</b>The uptrend also closely follows Monday's&nbsp;announcementby Dave Kaval — president of Major League Baseball team Oakland Athletics — that the team processed its first Dogecoin payment in exchange for tickets in the league's history. He even invoked the #DogecoinToTheMoon hashtag while linking to the team's announcement about match seats being sold in exchange for the coin.</p><p><blockquote><b>发生了什么：</b>这一上升趋势也紧随美国职业棒球大联盟奥克兰运动家队主席戴夫·卡瓦尔(Dave Kaval)周一宣布，该队处理了联盟历史上首次狗狗币支付以换取门票。他甚至引用了#DogecoinToTheMoon标签，同时链接到球队关于出售比赛席位以换取硬币的公告。</blockquote></p><p> With Tuesday's high of over $76 billion, Dogecoin's market cap surpassed the market capitalization of major companies.&nbsp;Ben Weiss — the&nbsp;CEO and co-founder of cryptocurrency ATM operator operating over 2,300 machines — explained that the primary reason behind Dogecoin's ascent is the current climate in the&nbsp;crypto market overall.</p><p><blockquote>随着周二超过760亿美元的高点，Dogecoin的市值超过了主要公司的市值。运营着2300多台机器的加密货币ATM运营商的首席执行官兼联合创始人Ben Weiss解释说，Dogecoin崛起背后的主要原因是加密市场当前的整体气候。</blockquote></p><p> <b>Why It's Important:</b>Weiss&nbsp;highlighted the promotion of Dogecoin by major personalities such as<b>Tesla Inc</b>(NASDAQ:TSLA) CEO Elon Musk and Mark Cuban are other factors that largely contributed to the coin's price increasing. He also cited the crypto asset becoming more easily obtainable and&nbsp;a more surprising reason.</p><p><blockquote><b>为什么它很重要：</b>韦斯强调了主要人物对狗狗币的推广，例如<b>特斯拉公司</b>（纳斯达克：TSLA）首席执行官Elon Musk和Mark Cuban是在很大程度上导致代币价格上涨的其他因素。他还列举了加密资产变得越来越容易获得以及一个更令人惊讶的原因。</blockquote></p><p> \"Many people view Doge as the 'people's cryptocurrency' because it was created as a joke,\"&nbsp;Weiss said in an email statement.&nbsp;\"Major players and corporations are unlikely to buy in and manipulate the market or understand that it could be a viable currency. Elon has echoed this sentiment. These factors have created a perfect storm for Doge, pumping the price to where it is today.\"</p><p><blockquote>“许多人将Doge视为‘人民的加密货币’，因为它是作为一个笑话创建的，”Weiss在一份电子邮件声明中说，“主要参与者和公司不太可能买入并操纵市场，也不太可能理解它可能是一种可行的货币。埃隆呼应了这种情绪。这些因素为Doge制造了一场完美风暴，将价格推高到今天的水平。”</blockquote></p><p> Dogecoin's rise comes as the total cap of the crypto asset market hasreached$2.3 trillion, making it larger than the market capitalization of any company and possibly any asset except for gold.</p><p><blockquote>狗狗币上涨之际，加密资产市场的总市值已达到2.3万亿美元，超过了任何公司的市值，也可能超过了除黄金以外的任何资产的市值。</blockquote></p><p> Dogecoin itself recentlyreached&nbsp;a&nbsp;market cap of nearly $54.45 billion. And that's a currency the creator of which did not expect to go anywhere, as he showed when hesoldall of his holdings for enough to buy a used Honda Civic in 2015.</p><p><blockquote>狗狗币本身最近的市值达到了近544.5亿美元。这种货币的创造者并不指望它会去任何地方，正如他在2015年出售所有资产足以购买一辆二手本田思域时所展示的那样。</blockquote></p><p> Dogecoin trades around $0.5466 at publication time.</p><p><blockquote>截至发稿时，狗狗币的交易价格约为0.5466美元。</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":"1121437206","content_text":"Dogecoin's(CRYPTO: DOGE) price increased nearly 55% from its 24-hour low of $0.3838 all the way to the 60-cent market Tuesday morning, according to CoinMarketCap data. This growth came right after the coinreporteda new all-time high of $0.45 Monday evening.\nWhat Happened:The uptrend also closely follows Monday's announcementby Dave Kaval — president of Major League Baseball team Oakland Athletics — that the team processed its first Dogecoin payment in exchange for tickets in the league's history. He even invoked the #DogecoinToTheMoon hashtag while linking to the team's announcement about match seats being sold in exchange for the coin.\nWith Tuesday's high of over $76 billion, Dogecoin's market cap surpassed the market capitalization of major companies. Ben Weiss — the CEO and co-founder of cryptocurrency ATM operator operating over 2,300 machines — explained that the primary reason behind Dogecoin's ascent is the current climate in the crypto market overall.\nWhy It's Important:Weiss highlighted the promotion of Dogecoin by major personalities such asTesla Inc(NASDAQ:TSLA) CEO Elon Musk and Mark Cuban are other factors that largely contributed to the coin's price increasing. He also cited the crypto asset becoming more easily obtainable and a more surprising reason.\n\"Many people view Doge as the 'people's cryptocurrency' because it was created as a joke,\" Weiss said in an email statement. \"Major players and corporations are unlikely to buy in and manipulate the market or understand that it could be a viable currency. Elon has echoed this sentiment. These factors have created a perfect storm for Doge, pumping the price to where it is today.\"\nDogecoin's rise comes as the total cap of the crypto asset market hasreached$2.3 trillion, making it larger than the market capitalization of any company and possibly any asset except for gold.\nDogecoin itself recentlyreached a market cap of nearly $54.45 billion. And that's a currency the creator of which did not expect to go anywhere, as he showed when hesoldall of his holdings for enough to buy a used Honda Civic in 2015.\nDogecoin trades around $0.5466 at publication time.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1675,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106974252,"gmtCreate":1620086787376,"gmtModify":1631892260299,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Good!","listText":"Good!","text":"Good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/106974252","repostId":"2132592752","repostType":4,"isVote":1,"tweetType":1,"viewCount":2883,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101340607,"gmtCreate":1619850672109,"gmtModify":1631892260313,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/101340607","repostId":"1146129324","repostType":4,"repost":{"id":"1146129324","kind":"news","pubTimestamp":1619795610,"share":"https://www.laohu8.com/m/news/1146129324?lang=zh_CN&edition=full","pubTime":"2021-04-30 23:13","market":"us","language":"en","title":"1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146129324","media":"Motley Fool","summary":"Electric-car companyTeslahas now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle  pioneer is on the right track in terms of profitability.The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter fro","content":"<p>Electric-car company<b>Tesla</b>(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.</p><p><blockquote>电动汽车公司<b>特斯拉</b>（纳斯达克：TSLA）现已连续七个季度盈利。特斯拉第一季度管理的AGAAP净收入为4.38亿美元，高于一年前的1600万美元。至少乍一看，这家电动汽车（EV）先驱在盈利能力方面似乎走在正确的轨道上。</blockquote></p><p> The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.</p><p><blockquote>问题是这些利润并不是真正来自特斯拉销售的汽车。该公司目前每个季度都从销售监管信用中获得数亿美元的净利润，这是其他汽车制造商没有生产足够的零排放汽车来满足监管要求的副作用。</blockquote></p><p> Regulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.</p><p><blockquote>第一季度监管信贷销售额总计5.18亿美元，占特斯拉全部利润甚至部分利润。前几个季度也是如此。事实上，在从特斯拉净利润中收回监管信贷后，该公司已连续六个季度不盈利。</blockquote></p><p> Tesla's bottom line got an additional boost in the first quarter from a gain onthe sale of<b>Bitcoin</b>to the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:</p><p><blockquote>特斯拉第一季度的利润因出售<b>比特币</b>高达1.01亿美元，这表现为成本的降低。当排除监管信贷和比特币收益时，情况看起来并不那么乐观：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0906160cab581f4c8a599b7d0965d34\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> DATA SOURCE: TESLA. CHART BY AUTHOR.</p><p><blockquote>数据来源：特斯拉。作者图表。</blockquote></p><p> There's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?</p><p><blockquote>毫无疑问，特斯拉的增长令人印象深刻，但毫无疑问，制造和销售汽车的核心业务并未盈利。特斯拉投资者需要问自己的问题是：如果特斯拉现在没有盈利，当美国电动汽车几乎没有竞争时，当传统汽车制造商的大量竞争到来时会发生什么？</blockquote></p><p> A ton of competition is coming</p><p><blockquote>大量的竞争即将到来</blockquote></p><p> Tesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.</p><p><blockquote>特斯拉的品牌拥有狂热的追随者，因此无论其他选择如何，有些人都会购买特斯拉汽车。但对大多数人来说，情况不太可能如此。</blockquote></p><p> The number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.<b>General Motors</b>(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.</p><p><blockquote>未来几年，美国可供购买的电动汽车数量将呈爆炸式增长。<b>通用汽车</b>（纽约证券交易所股票代码：GM）计划到2025年在全球推出30款电动汽车，其中三分之二将在北美销售。该公司的目标是到2025年在北美每年销售100万辆电动汽车。</blockquote></p><p> Those models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.</p><p><blockquote>这些车型包括该公司GMC悍马和雪佛兰索罗德皮卡的电动版本。特斯拉拥有忠实的客户群，但通用汽车也是如此。多年来一直购买通用汽车卡车的人在决定转向电动汽车时可能会坚持使用通用汽车。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c651279799dfdf96552379a7b5d448a9\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> IMAGE SOURCE: GM.</p><p><blockquote>图片来源：通用汽车。</blockquote></p><p> <b>Ford</b>(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.</p><p><blockquote><b>福特</b>（纽约证券交易所股票代码：F）也在向电动汽车投入资源，到2025年为电动和自动驾驶汽车拨款290亿美元。该公司的计划包括F-150皮卡车的电动版本，预计将于2022年中期投入生产线。鉴于通用和福特的计划，特斯拉要抢走利润丰厚的皮卡市场份额并不容易。</blockquote></p><p> Other car companies have big plans, as well.<b>Volkswagen</b>(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.<b>Toyota</b>(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.</p><p><blockquote>其他汽车公司也有宏伟的计划。<b>大众汽车</b>(OTC：VWAGY)每年已销售超过200,000辆电动汽车，预计今年这一数字将翻一番。该公司的目标是到2025年每年销售约200万辆电动汽车，并预计到2030年推出70款电动汽车车型。<b>丰田</b>(NYSE：TM)将在2025年之前推出15款新电动汽车，其中一些将属于新的丰田bZ子品牌。这样的例子不胜枚举。</blockquote></p><p> Not only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.</p><p><blockquote>所有这些电动汽车不仅将为消费者提供特斯拉之外的一系列选择，而且随着其他汽车制造商生产越来越多的电动汽车，它们还将剥夺特斯拉的监管信贷收入。</blockquote></p><p> None of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.</p><p><blockquote>这并不是说特斯拉不能在一个面临更多竞争的世界中取得成功。但每年盈利都会变得越来越困难。</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>1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</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\">\n1 Question Tesla Investors Need to Ask Themselves<blockquote>特斯拉投资者需要问自己的1个问题</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-04-30 23:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Electric-car company<b>Tesla</b>(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.</p><p><blockquote>电动汽车公司<b>特斯拉</b>（纳斯达克：TSLA）现已连续七个季度盈利。特斯拉第一季度管理的AGAAP净收入为4.38亿美元，高于一年前的1600万美元。至少乍一看，这家电动汽车（EV）先驱在盈利能力方面似乎走在正确的轨道上。</blockquote></p><p> The problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.</p><p><blockquote>问题是这些利润并不是真正来自特斯拉销售的汽车。该公司目前每个季度都从销售监管信用中获得数亿美元的净利润，这是其他汽车制造商没有生产足够的零排放汽车来满足监管要求的副作用。</blockquote></p><p> Regulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.</p><p><blockquote>第一季度监管信贷销售额总计5.18亿美元，占特斯拉全部利润甚至部分利润。前几个季度也是如此。事实上，在从特斯拉净利润中收回监管信贷后，该公司已连续六个季度不盈利。</blockquote></p><p> Tesla's bottom line got an additional boost in the first quarter from a gain onthe sale of<b>Bitcoin</b>to the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:</p><p><blockquote>特斯拉第一季度的利润因出售<b>比特币</b>高达1.01亿美元，这表现为成本的降低。当排除监管信贷和比特币收益时，情况看起来并不那么乐观：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b0906160cab581f4c8a599b7d0965d34\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> DATA SOURCE: TESLA. CHART BY AUTHOR.</p><p><blockquote>数据来源：特斯拉。作者图表。</blockquote></p><p> There's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?</p><p><blockquote>毫无疑问，特斯拉的增长令人印象深刻，但毫无疑问，制造和销售汽车的核心业务并未盈利。特斯拉投资者需要问自己的问题是：如果特斯拉现在没有盈利，当美国电动汽车几乎没有竞争时，当传统汽车制造商的大量竞争到来时会发生什么？</blockquote></p><p> A ton of competition is coming</p><p><blockquote>大量的竞争即将到来</blockquote></p><p> Tesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.</p><p><blockquote>特斯拉的品牌拥有狂热的追随者，因此无论其他选择如何，有些人都会购买特斯拉汽车。但对大多数人来说，情况不太可能如此。</blockquote></p><p> The number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.<b>General Motors</b>(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.</p><p><blockquote>未来几年，美国可供购买的电动汽车数量将呈爆炸式增长。<b>通用汽车</b>（纽约证券交易所股票代码：GM）计划到2025年在全球推出30款电动汽车，其中三分之二将在北美销售。该公司的目标是到2025年在北美每年销售100万辆电动汽车。</blockquote></p><p> Those models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.</p><p><blockquote>这些车型包括该公司GMC悍马和雪佛兰索罗德皮卡的电动版本。特斯拉拥有忠实的客户群，但通用汽车也是如此。多年来一直购买通用汽车卡车的人在决定转向电动汽车时可能会坚持使用通用汽车。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c651279799dfdf96552379a7b5d448a9\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> IMAGE SOURCE: GM.</p><p><blockquote>图片来源：通用汽车。</blockquote></p><p> <b>Ford</b>(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.</p><p><blockquote><b>福特</b>（纽约证券交易所股票代码：F）也在向电动汽车投入资源，到2025年为电动和自动驾驶汽车拨款290亿美元。该公司的计划包括F-150皮卡车的电动版本，预计将于2022年中期投入生产线。鉴于通用和福特的计划，特斯拉要抢走利润丰厚的皮卡市场份额并不容易。</blockquote></p><p> Other car companies have big plans, as well.<b>Volkswagen</b>(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.<b>Toyota</b>(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.</p><p><blockquote>其他汽车公司也有宏伟的计划。<b>大众汽车</b>(OTC：VWAGY)每年已销售超过200,000辆电动汽车，预计今年这一数字将翻一番。该公司的目标是到2025年每年销售约200万辆电动汽车，并预计到2030年推出70款电动汽车车型。<b>丰田</b>(NYSE：TM)将在2025年之前推出15款新电动汽车，其中一些将属于新的丰田bZ子品牌。这样的例子不胜枚举。</blockquote></p><p> Not only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.</p><p><blockquote>所有这些电动汽车不仅将为消费者提供特斯拉之外的一系列选择，而且随着其他汽车制造商生产越来越多的电动汽车，它们还将剥夺特斯拉的监管信贷收入。</blockquote></p><p> None of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.</p><p><blockquote>这并不是说特斯拉不能在一个面临更多竞争的世界中取得成功。但每年盈利都会变得越来越困难。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/30/1-question-tesla-investors-need-to-ask-themselves/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/04/30/1-question-tesla-investors-need-to-ask-themselves/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146129324","content_text":"Electric-car companyTesla(NASDAQ:TSLA)has now produced a profit for seven consecutive quarters. Tesla managed aGAAPnet income of $438 million in the first quarter, up from just $16 million one-year prior. It would appear, at least at first glance, that the electric-vehicle (EV) pioneer is on the right track in terms of profitability.\nThe problem is that these profits aren't really coming from the cars that Tesla sells. The company currently generates hundreds of millions of dollars in pure profit each quarter from the sale of regulatory credits, a side effect of other automakers not making enough zero-emission vehicles to meet regulatory requirements.\nRegulatory credit sales totaled $518 million in the first quarter, accounting for all of Tesla's profit and then some. This has been the case in previous quarters, as well. In fact, after backing out regulatory credits from Tesla's net income, the company has been unprofitable for six-straight quarters.\nTesla's bottom line got an additional boost in the first quarter from a gain onthe sale ofBitcointo the tune of $101 million, which showed up as a reduction in costs. The picture doesn't look so rosy when both regulatory credits and Bitcoin gains are excluded:\n\nDATA SOURCE: TESLA. CHART BY AUTHOR.\nThere's no question that Tesla's growth is impressive, but there's also no question that the core business of making and selling cars is not turning a profit. The question Tesla investors need to ask themselves is: If Tesla isn't profitable now, when there's little to no competition in electric vehicles in the United States, what's going to happen when a deluge of competition fromtraditional automakersarrives?\nA ton of competition is coming\nTesla's brand has a cult following, so some people will be buying Tesla vehicles regardless of the other options available. But that's not likely to be the case for most people.\nThe number of electric vehicles available for purchase in the U.S. is set to explode in the coming years.General Motors(NYSE:GM)is planning to launch 30 EVs globally by 2025, with two-thirds set to be sold in North America. The company is aiming to sell 1 million EVs annually in North America by 2025.\nThose models include electric versions of the company's GMC Hummer and Chevrolet Silverado pickup truck. Tesla has a loyal customer base, but so does GM. Someone who's been a GM truck buyer for years is likely to stick with GM when they decide to switch to an electric vehicle.\n\nIMAGE SOURCE: GM.\nFord(NYSE:F)is also pouring resources into electric vehicles, allocating $29 billion for electric and autonomous vehicles through 2025. The company's plans include anelectric version of its F-150 pickup truck, which should hit the production lines by mid-2022. Given GM's and Ford's plans, it will not be easy for Tesla to steal away market share in the lucrative pickup-truck segment.\nOther car companies have big plans, as well.Volkswagen(OTC:VWAGY)already sells over 200,000 EVs annually andexpects that number to double this year. The company is aiming to sell roughly 2 million EVs annually by 2025 and expects to launch 70 EV models by 2030.Toyota(NYSE:TM)willlaunch 15 new electric vehicles by 2025, some of which will be under the new Toyota bZ sub-brand. The list goes on.\nNot only will all these electric vehicles provide consumers with a bevy of options beyond Tesla, but they'll also deprive Tesla of its regulatory-credit income as other automakers churn out an increasing number of EVs.\nNone of this is to say that Tesla can't be successful in a world where it faces more competition. But turning a profit is is going to get harder with each passing year.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":682,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109823387,"gmtCreate":1619684312949,"gmtModify":1631892260324,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"😁😁","listText":"😁😁","text":"😁😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109823387","repostId":"1162866378","repostType":4,"repost":{"id":"1162866378","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":1619683319,"share":"https://www.laohu8.com/m/news/1162866378?lang=zh_CN&edition=full","pubTime":"2021-04-29 16:01","market":"us","language":"en","title":"Apple rose nearly 3% in premarket trading<blockquote>苹果盘前交易涨近3%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162866378","media":"Tiger Newspress","summary":"Apple rose nearly 3% in premarket trading, Q2 revenue increased by 54%, and announced a $90 billion ","content":"<p>Apple rose nearly 3% in premarket trading, Q2 revenue increased by 54%, and announced a $90 billion repurchase of stock.</p><p><blockquote>苹果盘前涨近3%，Q2营收增54%，宣布回购900亿美元股票。</blockquote></p><p><img src=\"https://static.tigerbbs.com/423f74f0188801e5c5f2e9c726de52f6\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Apple Delivers Blowout Q1, Lifts Buybacks by $90B</b></p><p><blockquote><b>苹果第一季度业绩井喷，回购量增加90B美元</b></blockquote></p><p>Apple reported Wednesday better-than-expected first-quarter results as revenue hit a record high following a surge in services and iPhones growth. Apple said it would increase its existing share buyback program by $90 billion.</p><p><blockquote>苹果周三公布了好于预期的第一季度业绩，在服务和iPhone增长激增后，收入创下历史新高。苹果表示，将把现有的股票回购计划增加900亿美元。</blockquote></p><p>Apple announced earnings per share of $1.40 on revenue of $89.58 billion. Analysts polled by Investing.com anticipated EPS of 98 cents on revenue of $76.71 billion.</p><p><blockquote>苹果公布每股收益1.40美元，营收895.8亿美元。Investing.com调查的分析师预计每股收益为98美分，营收为767.1亿美元。</blockquote></p><p>iPhone revenue, which makes up about half of total revenue, rose to $47.94. billion from $28.96 billion a year earlier, beating estimates of $40.8 billion, driven by strong demand from the latest slate of iPhones.</p><p><blockquote>约占总收入一半的iPhone收入升至47.94美元。由于最新一系列iPhone的强劲需求，销售额从去年同期的289.6亿美元增至10亿美元，超出了预期的408亿美元。</blockquote></p><p>Revenue from Apple’s service business including Apple News, Apple TV+ and iCloud, grew to $16.90 billion from $13.3 billion, beating estimates of $15.53 billion.</p><p><blockquote>苹果服务业务（包括苹果新闻、苹果TV+和iCloud）的收入从133亿美元增长至169亿美元，超出预期的155.3亿美元。</blockquote></p><p>Wearables, home and accessories generated $7.8 billion in revenue, up from $6.3 billion, beating consensus of&nbsp; $7.45 billion.</p><p><blockquote>可穿戴设备、家居和配件创造了78亿美元的收入，高于63亿美元，高于市场预期的74.5亿美元。</blockquote></p><p>Apple declared a cash dividend of 22 cents per share, an increase of 7%.</p><p><blockquote>苹果宣布每股派发现金股息22美分，增长7%。</blockquote></p><p>\"These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter,\" Apple said in a statement.</p><p><blockquote>苹果在一份声明中表示：“这些业绩使我们在本季度产生了240亿美元的运营现金流，并向股东返还了近230亿美元。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple rose nearly 3% in premarket trading<blockquote>苹果盘前交易涨近3%</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple rose nearly 3% in premarket trading<blockquote>苹果盘前交易涨近3%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-29 16:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Apple rose nearly 3% in premarket trading, Q2 revenue increased by 54%, and announced a $90 billion repurchase of stock.</p><p><blockquote>苹果盘前涨近3%，Q2营收增54%，宣布回购900亿美元股票。</blockquote></p><p><img src=\"https://static.tigerbbs.com/423f74f0188801e5c5f2e9c726de52f6\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Apple Delivers Blowout Q1, Lifts Buybacks by $90B</b></p><p><blockquote><b>苹果第一季度业绩井喷，回购量增加90B美元</b></blockquote></p><p>Apple reported Wednesday better-than-expected first-quarter results as revenue hit a record high following a surge in services and iPhones growth. Apple said it would increase its existing share buyback program by $90 billion.</p><p><blockquote>苹果周三公布了好于预期的第一季度业绩，在服务和iPhone增长激增后，收入创下历史新高。苹果表示，将把现有的股票回购计划增加900亿美元。</blockquote></p><p>Apple announced earnings per share of $1.40 on revenue of $89.58 billion. Analysts polled by Investing.com anticipated EPS of 98 cents on revenue of $76.71 billion.</p><p><blockquote>苹果公布每股收益1.40美元，营收895.8亿美元。Investing.com调查的分析师预计每股收益为98美分，营收为767.1亿美元。</blockquote></p><p>iPhone revenue, which makes up about half of total revenue, rose to $47.94. billion from $28.96 billion a year earlier, beating estimates of $40.8 billion, driven by strong demand from the latest slate of iPhones.</p><p><blockquote>约占总收入一半的iPhone收入升至47.94美元。由于最新一系列iPhone的强劲需求，销售额从去年同期的289.6亿美元增至10亿美元，超出了预期的408亿美元。</blockquote></p><p>Revenue from Apple’s service business including Apple News, Apple TV+ and iCloud, grew to $16.90 billion from $13.3 billion, beating estimates of $15.53 billion.</p><p><blockquote>苹果服务业务（包括苹果新闻、苹果TV+和iCloud）的收入从133亿美元增长至169亿美元，超出预期的155.3亿美元。</blockquote></p><p>Wearables, home and accessories generated $7.8 billion in revenue, up from $6.3 billion, beating consensus of&nbsp; $7.45 billion.</p><p><blockquote>可穿戴设备、家居和配件创造了78亿美元的收入，高于63亿美元，高于市场预期的74.5亿美元。</blockquote></p><p>Apple declared a cash dividend of 22 cents per share, an increase of 7%.</p><p><blockquote>苹果宣布每股派发现金股息22美分，增长7%。</blockquote></p><p>\"These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter,\" Apple said in a statement.</p><p><blockquote>苹果在一份声明中表示：“这些业绩使我们在本季度产生了240亿美元的运营现金流，并向股东返还了近230亿美元。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162866378","content_text":"Apple rose nearly 3% in premarket trading, Q2 revenue increased by 54%, and announced a $90 billion repurchase of stock.Apple Delivers Blowout Q1, Lifts Buybacks by $90BApple reported Wednesday better-than-expected first-quarter results as revenue hit a record high following a surge in services and iPhones growth. Apple said it would increase its existing share buyback program by $90 billion.Apple announced earnings per share of $1.40 on revenue of $89.58 billion. Analysts polled by Investing.com anticipated EPS of 98 cents on revenue of $76.71 billion.iPhone revenue, which makes up about half of total revenue, rose to $47.94. billion from $28.96 billion a year earlier, beating estimates of $40.8 billion, driven by strong demand from the latest slate of iPhones.Revenue from Apple’s service business including Apple News, Apple TV+ and iCloud, grew to $16.90 billion from $13.3 billion, beating estimates of $15.53 billion.Wearables, home and accessories generated $7.8 billion in revenue, up from $6.3 billion, beating consensus of  $7.45 billion.Apple declared a cash dividend of 22 cents per share, an increase of 7%.\"These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter,\" Apple said in a statement.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":841,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109829498,"gmtCreate":1619684284814,"gmtModify":1631892260336,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576812739314933","authorIdStr":"3576812739314933"},"themes":[],"htmlText":"😁😁","listText":"😁😁","text":"😁😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109829498","repostId":"1169827391","repostType":4,"repost":{"id":"1169827391","kind":"news","pubTimestamp":1619664680,"share":"https://www.laohu8.com/m/news/1169827391?lang=zh_CN&edition=full","pubTime":"2021-04-29 10:51","market":"us","language":"en","title":"Amazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169827391","media":"Barrons","summary":"Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stell","content":"<p>Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stellar fourth-quarter results that were overshadowed by the news that CEO Jeff Bezos will shift into the role of&nbsp; executive chairman, with Amazon Web Services chief Andy Jassy taking over the top slot.</p><p><blockquote>自从这家电子商务和云计算巨头公布了出色的第四季度业绩以来，亚马逊的股价几乎没有变化，但首席执行官杰夫·贝索斯(Jeff Bezos)将出任执行董事长、亚马逊网络服务(Amazon Web Services)首席执行官安迪·贾西(Andy Jassy)接任执行董事长的消息掩盖了这一消息。顶部插槽。</blockquote></p><p> The combination of that pending change, along with uncertainty over how the reopening of the economy will affect shopping behavior, has some investors a little uneasy about the stock’s near-term prospects.</p><p><blockquote>这种即将发生的变化，加上经济重新开放将如何影响购物行为的不确定性，让一些投资者对该股的近期前景感到有点不安。</blockquote></p><p> They will get a fresh look at the situation after the close of trading on Thursday, when Amazon (ticker: AMZN) posts its results for the March quarter. Amazon has told investors to expect revenue of $100 billion to $106 billion, with operating income of between $3 billion and $6.5 billion, and about $2 billion in costs related to Covid-19. The Wall Street consensus calls for revenue of $104.5 billion, with profits of $9.54 a share.</p><p><blockquote>周四收盘后，亚马逊（股票代码：AMZN）将公布三月份季度业绩，他们将重新审视形势。亚马逊曾告诉投资者，预计营收为1000亿至1060亿美元，营业收入在30亿至65亿美元之间，与Covid-19相关的成本约为20亿美元。华尔街一致认为评级营收为1045亿美元，每股利润为9.54美元。</blockquote></p><p> The Street also clearly expects the quarter’s results to show continued strength in e-commerce. According to FactSet, Wall Street analysts expect online-stores revenue of $51.5 billion, up 41% from a year ago, with third-party sales of $21.7 billion, up 50%. Subscription revenues are expected to be $7.3 billion, up 32%, while revenue from physical stores is expected to be $4.3 billion, down 8%. AWS revenues are projected at $13.2 billion, up 29%.</p><p><blockquote>华尔街还明确预计本季度业绩将显示电子商务的持续强劲。根据FactSet的数据，华尔街分析师预计在线商店收入为515亿美元，同比增长41%，第三方销售额为217亿美元，增长50%。订阅收入预计为73亿美元，增长32%，而实体店收入预计为43亿美元，下降8%。AWS收入预计为132亿美元，增长29%。</blockquote></p><p> One open question is what forecasts the company will make for the June quarter as parts of the country begin to return to more normal economic activity. The Street is projecting June quarter revenue of $108.7 billion and profits of $10.81 a share.</p><p><blockquote>一个悬而未决的问题是，随着该国部分地区开始恢复更正常的经济活动，该公司将对六月季度做出什么预测。华尔街预计6月份季度营收为1087亿美元，每股利润为10.81美元。</blockquote></p><p> In an earnings preview note, Truist analyst Youssef Squali&nbsp;reiterated a Buy rating on the stock and a target of $3,750 for the share price. The stock closed Tuesday at $3,417.43, up 4.9% year to date.</p><p><blockquote>在财报预览报告中，Truist分析师Youssef Squali重申了对该股的买入评级，并将股价目标定为3,750美元。该股周二收于3,417.43美元，今年迄今上涨4.9%。</blockquote></p><p> He expects revenue to come in at the high end of the range Amazon predicted, saying e-commerce demand has remained strong both in the U.S. and internationally, given that the pandemic has been slow to subside. Conversations with people in the industry and strong earning disclosed last week by Snap bode well for Amazon’s ad business, which is lumped into a category called “other,” he wrote. He also thinks the market continues to underestimate the long-term growth potential of the dominance of the company’s two key businesses—e-commerce and AWS—as well as the company’s “emerging leadership in online advertising.”</p><p><blockquote>他预计收入将达到亚马逊预测范围的高端，并表示鉴于疫情缓慢消退，美国和国际上的电子商务需求仍然强劲。他写道，与业内人士的对话以及Snap上周披露的强劲盈利对亚马逊的广告业务来说是个好兆头，亚马逊的广告业务被归入“其他”类别。他还认为，市场继续低估该公司两项关键业务——电子商务和AWS——的主导地位的长期增长潜力，以及该公司“在在线广告领域新兴的领导地位”。</blockquote></p><p> Stifel analyst Scott Devitt&nbsp;is similarly bullish, repeating a Buy rating and $4,000 target price. He sees 40% top-line growth, a little ahead of the Street consensus. “The focus on the report will largely center on the outlook as Amazon laps the difficult prior year compares from the onset of the pandemic,” he wrote in a research note.</p><p><blockquote>Stifel分析师Scott Devitt同样看好，重申买入评级和4,000美元的目标价。他预计营收将增长40%，略高于华尔街共识。他在一份研究报告中写道：“与大流行爆发以来的前一年相比，亚马逊经历了困难的一年，该报告的焦点将主要集中在前景上。”</blockquote></p><p> “Growth in a post-Covid environment remains largely uncertain for Amazon and across the e-commerce landscape,” Devitt said. “Our [June quarter] revenue estimates are ahead of consensus as we see tailwinds stemming from strong growth in new Prime members and diversification across geographies and categories supporting the retail business as economies recover.” He also said AWS and the ad business are well positioned for a recovery.</p><p><blockquote>德维特表示：“对于亚马逊和整个电子商务领域来说，后疫情环境中的增长在很大程度上仍然存在不确定性。”“我们的[六月季度]收入预期领先于共识，因为我们看到随着经济复苏，新Prime会员的强劲增长以及跨地区和类别的多元化为零售业务提供了支持。”他还表示，AWS和广告业务已做好复苏的准备。</blockquote></p><p> Wedbush analyst Michael Pachter likewise maintained an Outperform rating and $4,000 target. He thinks the company will post more revenue and operating income than it had forecast, an outperformance resulting from market-share gains in e-commerce.&nbsp;</p><p><blockquote>Wedbush分析师Michael Pachter同样维持跑赢大盘评级和4,000美元的目标。他认为该公司的收入和营业收入将超出预期，这是电子商务市场份额增长带来的优异表现。</blockquote></p><p> “We believe that a more stable economy, continued imposition of shelter-in-place orders in many of Amazon’s markets, continued expansion into the very large grocery segment, and outstanding execution likely drove strong results in Q1,” he said. “In addition, Amazon Pharmacy (launched February 2) represents a U.S. [addressable market] of around $600 billion, so any market share gains could provide further upside.”</p><p><blockquote>他表示：“我们认为，经济更加稳定、亚马逊许多市场继续实施就地避难订单、向超大型杂货领域的持续扩张以及出色的执行力可能会推动第一季度的强劲业绩。”“此外，亚马逊药房（2月2日推出）代表了约6000亿美元的美国[潜在市场]，因此任何市场份额的增长都可能提供进一步的上涨空间。”</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>Amazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-29 10:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stellar fourth-quarter results that were overshadowed by the news that CEO Jeff Bezos will shift into the role of&nbsp; executive chairman, with Amazon Web Services chief Andy Jassy taking over the top slot.</p><p><blockquote>自从这家电子商务和云计算巨头公布了出色的第四季度业绩以来，亚马逊的股价几乎没有变化，但首席执行官杰夫·贝索斯(Jeff Bezos)将出任执行董事长、亚马逊网络服务(Amazon Web Services)首席执行官安迪·贾西(Andy Jassy)接任执行董事长的消息掩盖了这一消息。顶部插槽。</blockquote></p><p> The combination of that pending change, along with uncertainty over how the reopening of the economy will affect shopping behavior, has some investors a little uneasy about the stock’s near-term prospects.</p><p><blockquote>这种即将发生的变化，加上经济重新开放将如何影响购物行为的不确定性，让一些投资者对该股的近期前景感到有点不安。</blockquote></p><p> They will get a fresh look at the situation after the close of trading on Thursday, when Amazon (ticker: AMZN) posts its results for the March quarter. Amazon has told investors to expect revenue of $100 billion to $106 billion, with operating income of between $3 billion and $6.5 billion, and about $2 billion in costs related to Covid-19. The Wall Street consensus calls for revenue of $104.5 billion, with profits of $9.54 a share.</p><p><blockquote>周四收盘后，亚马逊（股票代码：AMZN）将公布三月份季度业绩，他们将重新审视形势。亚马逊曾告诉投资者，预计营收为1000亿至1060亿美元，营业收入在30亿至65亿美元之间，与Covid-19相关的成本约为20亿美元。华尔街一致认为评级营收为1045亿美元，每股利润为9.54美元。</blockquote></p><p> The Street also clearly expects the quarter’s results to show continued strength in e-commerce. According to FactSet, Wall Street analysts expect online-stores revenue of $51.5 billion, up 41% from a year ago, with third-party sales of $21.7 billion, up 50%. Subscription revenues are expected to be $7.3 billion, up 32%, while revenue from physical stores is expected to be $4.3 billion, down 8%. AWS revenues are projected at $13.2 billion, up 29%.</p><p><blockquote>华尔街还明确预计本季度业绩将显示电子商务的持续强劲。根据FactSet的数据，华尔街分析师预计在线商店收入为515亿美元，同比增长41%，第三方销售额为217亿美元，增长50%。订阅收入预计为73亿美元，增长32%，而实体店收入预计为43亿美元，下降8%。AWS收入预计为132亿美元，增长29%。</blockquote></p><p> One open question is what forecasts the company will make for the June quarter as parts of the country begin to return to more normal economic activity. The Street is projecting June quarter revenue of $108.7 billion and profits of $10.81 a share.</p><p><blockquote>一个悬而未决的问题是，随着该国部分地区开始恢复更正常的经济活动，该公司将对六月季度做出什么预测。华尔街预计6月份季度营收为1087亿美元，每股利润为10.81美元。</blockquote></p><p> In an earnings preview note, Truist analyst Youssef Squali&nbsp;reiterated a Buy rating on the stock and a target of $3,750 for the share price. The stock closed Tuesday at $3,417.43, up 4.9% year to date.</p><p><blockquote>在财报预览报告中，Truist分析师Youssef Squali重申了对该股的买入评级，并将股价目标定为3,750美元。该股周二收于3,417.43美元，今年迄今上涨4.9%。</blockquote></p><p> He expects revenue to come in at the high end of the range Amazon predicted, saying e-commerce demand has remained strong both in the U.S. and internationally, given that the pandemic has been slow to subside. Conversations with people in the industry and strong earning disclosed last week by Snap bode well for Amazon’s ad business, which is lumped into a category called “other,” he wrote. He also thinks the market continues to underestimate the long-term growth potential of the dominance of the company’s two key businesses—e-commerce and AWS—as well as the company’s “emerging leadership in online advertising.”</p><p><blockquote>他预计收入将达到亚马逊预测范围的高端，并表示鉴于疫情缓慢消退，美国和国际上的电子商务需求仍然强劲。他写道，与业内人士的对话以及Snap上周披露的强劲盈利对亚马逊的广告业务来说是个好兆头，亚马逊的广告业务被归入“其他”类别。他还认为，市场继续低估该公司两项关键业务——电子商务和AWS——的主导地位的长期增长潜力，以及该公司“在在线广告领域新兴的领导地位”。</blockquote></p><p> Stifel analyst Scott Devitt&nbsp;is similarly bullish, repeating a Buy rating and $4,000 target price. He sees 40% top-line growth, a little ahead of the Street consensus. “The focus on the report will largely center on the outlook as Amazon laps the difficult prior year compares from the onset of the pandemic,” he wrote in a research note.</p><p><blockquote>Stifel分析师Scott Devitt同样看好，重申买入评级和4,000美元的目标价。他预计营收将增长40%，略高于华尔街共识。他在一份研究报告中写道：“与大流行爆发以来的前一年相比，亚马逊经历了困难的一年，该报告的焦点将主要集中在前景上。”</blockquote></p><p> “Growth in a post-Covid environment remains largely uncertain for Amazon and across the e-commerce landscape,” Devitt said. “Our [June quarter] revenue estimates are ahead of consensus as we see tailwinds stemming from strong growth in new Prime members and diversification across geographies and categories supporting the retail business as economies recover.” He also said AWS and the ad business are well positioned for a recovery.</p><p><blockquote>德维特表示：“对于亚马逊和整个电子商务领域来说，后疫情环境中的增长在很大程度上仍然存在不确定性。”“我们的[六月季度]收入预期领先于共识，因为我们看到随着经济复苏，新Prime会员的强劲增长以及跨地区和类别的多元化为零售业务提供了支持。”他还表示，AWS和广告业务已做好复苏的准备。</blockquote></p><p> Wedbush analyst Michael Pachter likewise maintained an Outperform rating and $4,000 target. He thinks the company will post more revenue and operating income than it had forecast, an outperformance resulting from market-share gains in e-commerce.&nbsp;</p><p><blockquote>Wedbush分析师Michael Pachter同样维持跑赢大盘评级和4,000美元的目标。他认为该公司的收入和营业收入将超出预期，这是电子商务市场份额增长带来的优异表现。</blockquote></p><p> “We believe that a more stable economy, continued imposition of shelter-in-place orders in many of Amazon’s markets, continued expansion into the very large grocery segment, and outstanding execution likely drove strong results in Q1,” he said. “In addition, Amazon Pharmacy (launched February 2) represents a U.S. [addressable market] of around $600 billion, so any market share gains could provide further upside.”</p><p><blockquote>他表示：“我们认为，经济更加稳定、亚马逊许多市场继续实施就地避难订单、向超大型杂货领域的持续扩张以及出色的执行力可能会推动第一季度的强劲业绩。”“此外，亚马逊药房（2月2日推出）代表了约6000亿美元的美国[潜在市场]，因此任何市场份额的增长都可能提供进一步的上涨空间。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/amazon-is-likely-to-post-blowout-profits-the-question-is-what-follows-51619556363?mod=hp_LEADSUPP_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.barrons.com/articles/amazon-is-likely-to-post-blowout-profits-the-question-is-what-follows-51619556363?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169827391","content_text":"Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stellar fourth-quarter results that were overshadowed by the news that CEO Jeff Bezos will shift into the role of  executive chairman, with Amazon Web Services chief Andy Jassy taking over the top slot.\nThe combination of that pending change, along with uncertainty over how the reopening of the economy will affect shopping behavior, has some investors a little uneasy about the stock’s near-term prospects.\nThey will get a fresh look at the situation after the close of trading on Thursday, when Amazon (ticker: AMZN) posts its results for the March quarter. Amazon has told investors to expect revenue of $100 billion to $106 billion, with operating income of between $3 billion and $6.5 billion, and about $2 billion in costs related to Covid-19. The Wall Street consensus calls for revenue of $104.5 billion, with profits of $9.54 a share.\nThe Street also clearly expects the quarter’s results to show continued strength in e-commerce. According to FactSet, Wall Street analysts expect online-stores revenue of $51.5 billion, up 41% from a year ago, with third-party sales of $21.7 billion, up 50%. Subscription revenues are expected to be $7.3 billion, up 32%, while revenue from physical stores is expected to be $4.3 billion, down 8%. AWS revenues are projected at $13.2 billion, up 29%.\nOne open question is what forecasts the company will make for the June quarter as parts of the country begin to return to more normal economic activity. The Street is projecting June quarter revenue of $108.7 billion and profits of $10.81 a share.\nIn an earnings preview note, Truist analyst Youssef Squali reiterated a Buy rating on the stock and a target of $3,750 for the share price. The stock closed Tuesday at $3,417.43, up 4.9% year to date.\nHe expects revenue to come in at the high end of the range Amazon predicted, saying e-commerce demand has remained strong both in the U.S. and internationally, given that the pandemic has been slow to subside. Conversations with people in the industry and strong earning disclosed last week by Snap bode well for Amazon’s ad business, which is lumped into a category called “other,” he wrote. He also thinks the market continues to underestimate the long-term growth potential of the dominance of the company’s two key businesses—e-commerce and AWS—as well as the company’s “emerging leadership in online advertising.”\nStifel analyst Scott Devitt is similarly bullish, repeating a Buy rating and $4,000 target price. He sees 40% top-line growth, a little ahead of the Street consensus. “The focus on the report will largely center on the outlook as Amazon laps the difficult prior year compares from the onset of the pandemic,” he wrote in a research note.\n“Growth in a post-Covid environment remains largely uncertain for Amazon and across the e-commerce landscape,” Devitt said. “Our [June quarter] revenue estimates are ahead of consensus as we see tailwinds stemming from strong growth in new Prime members and diversification across geographies and categories supporting the retail business as economies recover.” He also said AWS and the ad business are well positioned for a recovery.\nWedbush analyst Michael Pachter likewise maintained an Outperform rating and $4,000 target. He thinks the company will post more revenue and operating income than it had forecast, an outperformance resulting from market-share gains in e-commerce. \n“We believe that a more stable economy, continued imposition of shelter-in-place orders in many of Amazon’s markets, continued expansion into the very large grocery segment, and outstanding execution likely drove strong results in Q1,” he said. “In addition, Amazon Pharmacy (launched February 2) represents a U.S. [addressable market] of around $600 billion, so any market share gains could provide further 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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是世界上第一台专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是世界上第一台专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":3115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":826999705,"gmtCreate":1633962484237,"gmtModify":1633962484299,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576812739314933","idStr":"3576812739314933"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/826999705","repostId":"1104700424","repostType":4,"repost":{"id":"1104700424","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":1633962193,"share":"https://www.laohu8.com/m/news/1104700424?lang=zh_CN&edition=full","pubTime":"2021-10-11 22:23","market":"us","language":"en","title":"Apple stock rose more than 1% in morning trading<blockquote>苹果股价早盘上涨逾1%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104700424","media":"Tiger Newspress","summary":"Apple stock rose more than 1% in morning trading.Apple appealed the Epic Games ruling and asked to p","content":"<p>Apple stock rose more than 1% in morning trading.Apple appealed the Epic Games ruling and asked to put ordered App Store changes on hold.</p><p><blockquote>苹果股价早盘上涨逾1%。苹果对Epic Games的裁决提出上诉，并要求暂停订购的App Store变更。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2d8c8a6a273d3ea37161e8b6b988da92\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The iPhone maker gave notice last Friday (Oct 8) that it will appeal a judge's ruling in its fight with Epic Games ordering the California-based company to stop blocking developers from letting users complete in-app purchases on the Web.</p><p><blockquote>这家iPhone制造商上周五（10月8日）发出通知，将对法官在与Epic Games的斗争中的裁决提出上诉，该裁决命令这家总部位于加州的公司停止阻止开发者让用户在网络上完成应用内购买。</blockquote></p><p> It also asked the judge to put the Dec 9 deadline for App Store rule changes on hold during the appeal, which, if allowed, could keep business as usual for Apple for at least a year.</p><p><blockquote>它还要求法官在上诉期间暂停12月9日App Store规则变更的最后期限，如果允许，苹果的业务可以照常运行至少一年。</blockquote></p><p> The Sept 10 ruling largely vindicated&nbsp;Apple's business model, which&nbsp;charges commissions on developers&nbsp;for App Store transactions, but the judge said Apple must allow direct communication between users and app makers and permit links to the Web to complete transactions.</p><p><blockquote>9月10日的裁决在很大程度上证明了苹果的商业模式是正确的，该模式向开发者收取应用商店交易佣金，但法官表示，苹果必须允许用户和应用程序制造商之间的直接沟通，并允许链接到网络来完成交易。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple stock rose more than 1% in morning trading<blockquote>苹果股价早盘上涨逾1%</blockquote></title>\n<style 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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\">\nApple stock rose more than 1% in morning trading<blockquote>苹果股价早盘上涨逾1%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-11 22:23</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Apple stock rose more than 1% in morning trading.Apple appealed the Epic Games ruling and asked to put ordered App Store changes on hold.</p><p><blockquote>苹果股价早盘上涨逾1%。苹果对Epic Games的裁决提出上诉，并要求暂停订购的App Store变更。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2d8c8a6a273d3ea37161e8b6b988da92\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The iPhone maker gave notice last Friday (Oct 8) that it will appeal a judge's ruling in its fight with Epic Games ordering the California-based company to stop blocking developers from letting users complete in-app purchases on the Web.</p><p><blockquote>这家iPhone制造商上周五（10月8日）发出通知，将对法官在与Epic Games的斗争中的裁决提出上诉，该裁决命令这家总部位于加州的公司停止阻止开发者让用户在网络上完成应用内购买。</blockquote></p><p> It also asked the judge to put the Dec 9 deadline for App Store rule changes on hold during the appeal, which, if allowed, could keep business as usual for Apple for at least a year.</p><p><blockquote>它还要求法官在上诉期间暂停12月9日App Store规则变更的最后期限，如果允许，苹果的业务可以照常运行至少一年。</blockquote></p><p> The Sept 10 ruling largely vindicated&nbsp;Apple's business model, which&nbsp;charges commissions on developers&nbsp;for App Store transactions, but the judge said Apple must allow direct communication between users and app makers and permit links to the Web to complete transactions.</p><p><blockquote>9月10日的裁决在很大程度上证明了苹果的商业模式是正确的，该模式向开发者收取应用商店交易佣金，但法官表示，苹果必须允许用户和应用程序制造商之间的直接沟通，并允许链接到网络来完成交易。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104700424","content_text":"Apple stock rose more than 1% in morning trading.Apple appealed the Epic Games ruling and asked to put ordered App Store changes on hold.\n\nThe iPhone maker gave notice last Friday (Oct 8) that it will appeal a judge's ruling in its fight with Epic Games ordering the California-based company to stop blocking developers from letting users complete in-app purchases on the Web.\nIt also asked the judge to put the Dec 9 deadline for App Store rule changes on hold during the appeal, which, if allowed, could keep business as usual for Apple for at least a year.\nThe Sept 10 ruling largely vindicated Apple's business model, which charges commissions on developers for App Store transactions, but the judge said Apple must allow direct communication between users and app makers and permit links to the Web to complete transactions.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":4341,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":367182877,"gmtCreate":1614921452899,"gmtModify":1703482999172,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576812739314933","idStr":"3576812739314933"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/367182877","repostId":"1102182306","repostType":4,"repost":{"id":"1102182306","kind":"news","pubTimestamp":1614916086,"share":"https://www.laohu8.com/m/news/1102182306?lang=zh_CN&edition=full","pubTime":"2021-03-05 11:48","market":"us","language":"en","title":"Making A List Of The Top Software Stocks To Watch Now? 4 Names To Know<blockquote>列出现在值得关注的顶级软件股？4个需要知道的名字</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1102182306","media":"Nasdaq","summary":"Are These The Best Software Stocks To Have On Your Watchlist?The past year has been invigorating for","content":"<p>Are These The Best Software Stocks To Have On Your Watchlist?</p><p><blockquote>这些是您关注名单上最好的软件股票吗？</blockquote></p><p>The past year has been invigorating for&nbsp;software stocks&nbsp;on the stock market, to say the least. This comes as no surprise seeing as software is a vital tool for organizations of all sizes in this age. As a result, investors and software companies alike continue to see big gains. Moving forward, you might be wondering if the software industry can maintain its current momentum. Well, it is important to note that software is a part of the ever-evolving tech industry. Likewise, there are always innovations and refinements to be made over existing software. This coupled with countless applications for software across various industries bodes well for software investors.</p><p><blockquote>至少可以说，过去的一年对股市上的软件股来说是令人振奋的一年。这并不奇怪，因为在这个时代，软件是各种规模的组织的重要工具。因此，投资者和软件公司都继续看到巨大的收益。展望未来，你可能想知道软件行业是否能保持目前的势头。嗯，值得注意的是，软件是不断发展的科技行业的一部分。同样，对现有软件总是有创新和改进的。再加上软件在各个行业的无数应用，对软件投资者来说是个好兆头。</blockquote></p><p>For instance, Veeva Systems (NYSE: VEEV) caters to the cloud computing needs of the life sciences industry. Just this morning, it revealed that 90% of the biotech research companies it surveyed are looking to significantly improve research methods by adopting new digital strategies. Another example would be digital communications giant <a href=\"https://laohu8.com/S/ZM\">Zoom</a> (NASDAQ: ZM). The company’s recent-quarter revenue skyrocketed by 369% year-over-year. But more importantly, it ended the quarter with a whopping $4.2 billion in cash on hand. The likes of which CFO Kelly Steckleberg mentioned would be put towards investing in capacity building and R&amp;D hiring. All this paired with the recent pullbacks could provide an interesting opportunity for investors to buy on the dip. As such, here are fourtop software stocksin the limelight now.</p><p><blockquote>例如，Veeva Systems（纽约证券交易所股票代码：VEEV）满足生命科学行业的云计算需求。就在今天早上，它透露，其调查的90%的生物技术研究公司都希望通过采用新的数字战略来显着改进研究方法。另一个例子是数字通信巨头<a href=\"https://laohu8.com/S/ZM\">Zoom</a>（纳斯达克：ZM）。该公司最近一个季度的收入同比猛增369%。但更重要的是，该公司本季度末手头现金高达42亿美元。首席财务官凯利·斯特克尔伯格(Kelly Steckleberg)提到的此类资金将用于投资能力建设和研发招聘。所有这些加上最近的回调可能为投资者提供逢低买入的有趣机会。因此，以下是目前备受关注的四只顶级软件股。</blockquote></p><p>4 Top Software Stocks To Watch</p><p><blockquote>4只最值得关注的软件股</blockquote></p><p><ul><li><b>Microsoft Corporation</b>(NASDAQ: MSFT)</li><li><b><a href=\"https://laohu8.com/S/EB\">Eventbrite Inc.</a></b>(NYSE: EB)</li><li><b><a href=\"https://laohu8.com/S/SPLK\">Splunk Inc</a>.</b>(NASDAQ: SPLK)</li><li><b>Oracle Corporation</b>(NYSE: ORCL)</li></ul>Microsoft Corporation</p><p><blockquote><ul><li><b>微软公司</b>（纳斯达克：MSFT）</li><li><b><a href=\"https://laohu8.com/S/EB\">Eventbrite公司。</a></b>（纽约证券交易所代码：EB）</li><li><b><a href=\"https://laohu8.com/S/SPLK\">Splunk公司</a>.</b>（纳斯达克：SPLK）</li><li><b>甲骨文公司</b>（纽约证券交易所代码：ORCL）</li></ul>微软公司</blockquote></p><p>It is hard to talk about software without mentioning software goliath Microsoft. After all, it is the company behind the leading office tool software in the world, Microsoft Office. Given its status as <a href=\"https://laohu8.com/S/AONE.U\">one</a> of thebig tech stocks, most investors would be watching MSFT stock in anticipation of the company’s latest moves. Nevertheless, Microsoft continues to make groundbreaking developments in the software space.</p><p><blockquote>谈论软件很难不提到软件巨人微软。毕竟是全球领先的办公工具软件微软Office背后的公司。鉴于其地位<a href=\"https://laohu8.com/S/AONE.U\">一</a>在大型科技股中，大多数投资者都会关注MSFT股票，以期待该公司的最新举措。尽管如此，微软继续在软件领域取得突破性的发展。</blockquote></p><p>To begin with, Microsoft unveiled Microsoft Mesh, a seemingly new frontier in video communication. Simply put, Mesh is the company’s “mixed reality” upgrade to conventional virtual calls. Through a combination of virtual reality (VR) and augmented reality (AR), users will supposedly be able to interact with others as if they were in the same room.<img src=\"https://static.tigerbbs.com/c68235cbdd1889e829494cf6168bec83\" tg-width=\"759\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote>首先，微软推出了微软网格，这似乎是视频通信的一个新领域。简单来说，Mesh是该公司对常规虚拟评级的“混合现实”升级。通过虚拟现实（VR）和增强现实（AR）的结合，用户应该能够与他人互动，就像他们在同一个房间里一样。</blockquote></p><p>Source: TD Ameritrade TOS</p><p><blockquote>资料来源：德美利证券TOS</blockquote></p><p>Now, Microsoft is offering it as both an application and a service via its cloud computing arm, Microsoft Azure. Speaking of Azure, Microsoft also expanded its services with Azure Arc hybrid and multi-cloud capabilities. Briefly, Azure Arc is a set of technologies that extend Azure’s services to “any infrastructure.” In practice, these upgrades give customers the flexibility and agility to innovate with Azure, anywhere. With Microsoft firing on all cylinders, could it be a good time to watch MSFT stock?</p><p><blockquote>现在，微软通过其云计算部门微软Azure将其作为应用程序和服务提供。说到Azure，微软还通过Azure Arc混合和多云功能扩展了其服务。简而言之，Azure Arc是一套将Azure的服务扩展到“任何基础设施”的技术。实际上，这些升级为客户提供了随时随地使用Azure进行创新的灵活性和敏捷性。随着微软全力以赴，现在是关注MSFT股票的好时机吗？</blockquote></p><p>Eventbrite Inc.</p><p><blockquote>Eventbrite公司。</blockquote></p><p>Another software player in focus now would be global self-service ticketing and experience tech platform Eventbrite. The company operates an event management and ticketing website. Through its application software, users can browse, create, and promote local events. In terms of revenue, Eventbrite charges a fee to paid-event organizers in exchange for its online ticketing services. Moreover, the company caters to nearly <a href=\"https://laohu8.com/S/AONE\">one</a> million event creators across 180 countries. With most in-person events being canceled, you’d think that the company would be on the downtrend. However, its recent quarter fiscal posted last week suggests otherwise.</p><p><blockquote>现在另一个成为焦点的软件公司是全球自助票务和体验技术平台Eventbrite。该公司运营一个活动管理和票务网站。通过其应用软件，用户可以浏览、创建和推广本地活动。就收入而言，Eventbrite向付费活动组织者收取费用，以换取其在线票务服务。此外，公司迎合了近<a href=\"https://laohu8.com/S/AONE\">一</a>180个国家的百万活动创作者。随着大多数面对面的活动被取消，你可能会认为该公司将处于下降趋势。然而，其上周公布的最近一个季度财报却表明情况并非如此。</blockquote></p><p>In it, the company saw its revenue increase by over 22% quarter-over-quarter. According to CEO Julia Hartz, Eventbrite’s users hosted 4.6 million events throughout 2020. Through Eventbrite, people continued to gather in inventive ways via virtual events, drive-ins, and socially distanced experiences.<img src=\"https://static.tigerbbs.com/128f22262235ece45d047268235c6be1\" tg-width=\"762\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Source: TD Ameritrade TOS</p><p><blockquote>其中，该公司收入环比增长超过22%。据首席执行官朱莉娅·哈茨称，Eventbrite的用户在2020年全年举办了460万场活动。通过Eventbrite，人们继续通过虚拟活动、免下车餐馆和社交距离体验以创造性的方式聚集在一起。资料来源：德美利证券TOS</blockquote></p><p>If anything, this shows the resilience of the company even amidst these trying times. After you factor in improving pandemic conditions, things could be looking up for the company. Investors appear to think so as EB stock has surged by over 12% since these results were posted a week ago. Given all of this, will you be adding EB stock to your watchlist?</p><p><blockquote>如果说有什么不同的话，那就是这显示了该公司即使在艰难时期也具有韧性。在考虑到大流行状况的改善后，公司的情况可能会有所好转。投资者似乎是这么认为的，因为自一周前公布这些业绩以来，EB股价已飙升超过12%。鉴于所有这些，您会将EB股票添加到您的观察列表中吗？</blockquote></p><p>Splunk Inc.</p><p><blockquote>Splunk公司。</blockquote></p><p></p><p>Following that, we have big data analytics software company, Splunk. In brief, the company produces software for searching, monitoring, and analyzing machine-generated big data. Splunk does all this via its Data-to-Everything platform. For the most part, the company helps organizations gain actionable insights from their data regardless of scale. In the age of information, this would serve as a vital service for businesses looking to refine their business strategies. Accordingly, this would position Splunk to continue benefiting from the pandemic-fueled exposure it gained over the past year. Seeing as Splunk posted stellar figures in its fourth-quarter fiscal after yesterday’s closing bell, investors could be watching SPLK stock.</p><p><blockquote>接下来，我们有大数据分析软件公司Splunk。简而言之，该公司生产用于搜索、监控和分析机器生成的大数据的软件。Splunk通过其数据到一切平台来实现这一切。在很大程度上，该公司帮助组织从其数据中获得可操作的见解，无论其规模如何。在信息时代，这将是寻求完善业务战略的企业的一项重要服务。因此，这将使Splunk能够继续受益于过去一年因大流行而获得的风险敞口。鉴于Splunk在昨天收盘后公布了第四季度财报的出色数据，投资者可能会关注SPLK股票。</blockquote></p><p>Diving right into it, the company raked in a total annual recurring revenue (ARR) of $2.36 billion for the quarter. This marks an impressive 41% year-over-year increase. Additionally, Splunk saw its cloud ARR surge by 83% over the same period. In terms of cloud revenue for fiscal 2021, the company posted a 77% increase compared to its fiscal year 2020. No doubt, Splunk continues to ride the boom in corporate cloud spending.<img src=\"https://static.tigerbbs.com/8c4aee1421659dfcebcf9ffe09d7e9c4\" tg-width=\"759\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote>该公司本季度的年度经常性收入(ARR)总额为23.6亿美元。这标志着令人印象深刻的41%的同比增长。此外，Splunk的云ARR同期飙升了83%。就2021财年的云收入而言，该公司比2020财年增长了77%。毫无疑问，Splunk继续受益于企业云支出的繁荣。</blockquote></p><p>Source: TD Ameritrade TOS</p><p><blockquote>资料来源：德美利证券TOS</blockquote></p><p>In closing, CFO Jason Child cites continuous cloud adoption as a driving force for Splunk’s long-term success. Time will tell if this holds to be true. For now, will you be keeping SPLK stock in your sights?</p><p><blockquote>最后，首席财务官Jason Child表示，持续采用云是Splunk长期成功的驱动力。时间会证明这是否属实。目前，您会继续关注SPLK股票吗？</blockquote></p><p>Oracle Corporation</p><p><blockquote>甲骨文公司</blockquote></p><p>Last but not least, we will be looking at software giant, Oracle. The company offers a suite of integrated applications and secure, autonomous infrastructure via its Oracle Cloud platform. Specifically, these applications help organizations by providing sales, marketing, human resources, finance, and manufacturing solutions. Notably, Oracle announced yesterday that its third-quarterearnings callwill be held next Wednesday after market close. This could place ORCL stock on investors’ radars.</p><p><blockquote>最后但同样重要的是，我们将关注软件巨头甲骨文。该公司通过其Oracle云平台提供一套集成应用程序和安全、自主的基础设施。具体来说，这些应用程序通过提供销售、营销、人力资源、财务和制造解决方案来帮助组织。值得注意的是，甲骨文昨天宣布，第三季度财报电话会议将于下周三收盘后举行。这可能会让ORCL股票受到投资者的关注。</blockquote></p><p>For one thing, the company has had a busy month throughout February. For starters, it expanded its hybrid cloud portfolio earlier in the month with the Oracle Roving Edge Infrastructure. The upgrade means that customers can employ Oracle’s secure and scalable cloud services even “in the most remote areas of the world.” Subsequently, the company posted on two occasions regarding its clients in the healthcare sector. On February 11, it revealed that several leading healthcare organizations across the U.S. adopted its services.<img src=\"https://static.tigerbbs.com/37a61353adeec0dab2147bcbf18a0e3f\" tg-width=\"758\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Source: TD Ameritrade TOS</p><p><blockquote>一方面，该公司整个二月份都很忙。首先，它在本月早些时候通过Oracle Roving Edge基础设施扩展了其混合云产品组合。此次升级意味着客户即使在“世界上最偏远的地区”也可以使用Oracle安全且可扩展的云服务。随后，该公司两次发布了有关其医疗保健行业客户的信息。2月11日，它透露美国几家领先的医疗保健组织采用了它的服务。资料来源：德美利证券TOS</blockquote></p><p>According to Oracle, said clients cater to over 26 million Americans annually. Similarly, the company announced that Northwell Health, one of the largest New York health systems is also a client. Overall Oracle continues to expand its services while aiding the healthcare industry amidst the pandemic. Could it be wise to watch ORCL stock ahead of its earnings next week? Your guess is as good as mine.</p><p><blockquote>据甲骨文称，上述客户每年为超过2600万美国人提供服务。同样，该公司宣布纽约最大的医疗系统之一Northwell Health也是其客户。总体而言，甲骨文继续扩大其服务，同时帮助疫情的医疗保健行业。在下周公布财报之前关注ORCL股票是否明智？你的猜测和我的一样好。</blockquote></p><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p><p><blockquote>本文表达的观点和意见是作者的观点和意见，不一定反映纳斯达克公司的观点和意见。</blockquote></p><p></p>","source":"lsy1603171495471","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>Making A List Of The Top Software Stocks To Watch Now? 4 Names To Know<blockquote>列出现在值得关注的顶级软件股？4个需要知道的名字</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\">\nMaking A List Of The Top Software Stocks To Watch Now? 4 Names To Know<blockquote>列出现在值得关注的顶级软件股？4个需要知道的名字</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-03-05 11:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Are These The Best Software Stocks To Have On Your Watchlist?</p><p><blockquote>这些是您关注名单上最好的软件股票吗？</blockquote></p><p>The past year has been invigorating for&nbsp;software stocks&nbsp;on the stock market, to say the least. This comes as no surprise seeing as software is a vital tool for organizations of all sizes in this age. As a result, investors and software companies alike continue to see big gains. Moving forward, you might be wondering if the software industry can maintain its current momentum. Well, it is important to note that software is a part of the ever-evolving tech industry. Likewise, there are always innovations and refinements to be made over existing software. This coupled with countless applications for software across various industries bodes well for software investors.</p><p><blockquote>至少可以说，过去的一年对股市上的软件股来说是令人振奋的一年。这并不奇怪，因为在这个时代，软件是各种规模的组织的重要工具。因此，投资者和软件公司都继续看到巨大的收益。展望未来，你可能想知道软件行业是否能保持目前的势头。嗯，值得注意的是，软件是不断发展的科技行业的一部分。同样，对现有软件总是有创新和改进的。再加上软件在各个行业的无数应用，对软件投资者来说是个好兆头。</blockquote></p><p>For instance, Veeva Systems (NYSE: VEEV) caters to the cloud computing needs of the life sciences industry. Just this morning, it revealed that 90% of the biotech research companies it surveyed are looking to significantly improve research methods by adopting new digital strategies. Another example would be digital communications giant <a href=\"https://laohu8.com/S/ZM\">Zoom</a> (NASDAQ: ZM). The company’s recent-quarter revenue skyrocketed by 369% year-over-year. But more importantly, it ended the quarter with a whopping $4.2 billion in cash on hand. The likes of which CFO Kelly Steckleberg mentioned would be put towards investing in capacity building and R&amp;D hiring. All this paired with the recent pullbacks could provide an interesting opportunity for investors to buy on the dip. As such, here are fourtop software stocksin the limelight now.</p><p><blockquote>例如，Veeva Systems（纽约证券交易所股票代码：VEEV）满足生命科学行业的云计算需求。就在今天早上，它透露，其调查的90%的生物技术研究公司都希望通过采用新的数字战略来显着改进研究方法。另一个例子是数字通信巨头<a href=\"https://laohu8.com/S/ZM\">Zoom</a>（纳斯达克：ZM）。该公司最近一个季度的收入同比猛增369%。但更重要的是，该公司本季度末手头现金高达42亿美元。首席财务官凯利·斯特克尔伯格(Kelly Steckleberg)提到的此类资金将用于投资能力建设和研发招聘。所有这些加上最近的回调可能为投资者提供逢低买入的有趣机会。因此，以下是目前备受关注的四只顶级软件股。</blockquote></p><p>4 Top Software Stocks To Watch</p><p><blockquote>4只最值得关注的软件股</blockquote></p><p><ul><li><b>Microsoft Corporation</b>(NASDAQ: MSFT)</li><li><b><a href=\"https://laohu8.com/S/EB\">Eventbrite Inc.</a></b>(NYSE: EB)</li><li><b><a href=\"https://laohu8.com/S/SPLK\">Splunk Inc</a>.</b>(NASDAQ: SPLK)</li><li><b>Oracle Corporation</b>(NYSE: ORCL)</li></ul>Microsoft Corporation</p><p><blockquote><ul><li><b>微软公司</b>（纳斯达克：MSFT）</li><li><b><a href=\"https://laohu8.com/S/EB\">Eventbrite公司。</a></b>（纽约证券交易所代码：EB）</li><li><b><a href=\"https://laohu8.com/S/SPLK\">Splunk公司</a>.</b>（纳斯达克：SPLK）</li><li><b>甲骨文公司</b>（纽约证券交易所代码：ORCL）</li></ul>微软公司</blockquote></p><p>It is hard to talk about software without mentioning software goliath Microsoft. After all, it is the company behind the leading office tool software in the world, Microsoft Office. Given its status as <a href=\"https://laohu8.com/S/AONE.U\">one</a> of thebig tech stocks, most investors would be watching MSFT stock in anticipation of the company’s latest moves. Nevertheless, Microsoft continues to make groundbreaking developments in the software space.</p><p><blockquote>谈论软件很难不提到软件巨人微软。毕竟是全球领先的办公工具软件微软Office背后的公司。鉴于其地位<a href=\"https://laohu8.com/S/AONE.U\">一</a>在大型科技股中，大多数投资者都会关注MSFT股票，以期待该公司的最新举措。尽管如此，微软继续在软件领域取得突破性的发展。</blockquote></p><p>To begin with, Microsoft unveiled Microsoft Mesh, a seemingly new frontier in video communication. Simply put, Mesh is the company’s “mixed reality” upgrade to conventional virtual calls. Through a combination of virtual reality (VR) and augmented reality (AR), users will supposedly be able to interact with others as if they were in the same room.<img src=\"https://static.tigerbbs.com/c68235cbdd1889e829494cf6168bec83\" tg-width=\"759\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote>首先，微软推出了微软网格，这似乎是视频通信的一个新领域。简单来说，Mesh是该公司对常规虚拟评级的“混合现实”升级。通过虚拟现实（VR）和增强现实（AR）的结合，用户应该能够与他人互动，就像他们在同一个房间里一样。</blockquote></p><p>Source: TD Ameritrade TOS</p><p><blockquote>资料来源：德美利证券TOS</blockquote></p><p>Now, Microsoft is offering it as both an application and a service via its cloud computing arm, Microsoft Azure. Speaking of Azure, Microsoft also expanded its services with Azure Arc hybrid and multi-cloud capabilities. Briefly, Azure Arc is a set of technologies that extend Azure’s services to “any infrastructure.” In practice, these upgrades give customers the flexibility and agility to innovate with Azure, anywhere. With Microsoft firing on all cylinders, could it be a good time to watch MSFT stock?</p><p><blockquote>现在，微软通过其云计算部门微软Azure将其作为应用程序和服务提供。说到Azure，微软还通过Azure Arc混合和多云功能扩展了其服务。简而言之，Azure Arc是一套将Azure的服务扩展到“任何基础设施”的技术。实际上，这些升级为客户提供了随时随地使用Azure进行创新的灵活性和敏捷性。随着微软全力以赴，现在是关注MSFT股票的好时机吗？</blockquote></p><p>Eventbrite Inc.</p><p><blockquote>Eventbrite公司。</blockquote></p><p>Another software player in focus now would be global self-service ticketing and experience tech platform Eventbrite. The company operates an event management and ticketing website. Through its application software, users can browse, create, and promote local events. In terms of revenue, Eventbrite charges a fee to paid-event organizers in exchange for its online ticketing services. Moreover, the company caters to nearly <a href=\"https://laohu8.com/S/AONE\">one</a> million event creators across 180 countries. With most in-person events being canceled, you’d think that the company would be on the downtrend. However, its recent quarter fiscal posted last week suggests otherwise.</p><p><blockquote>现在另一个成为焦点的软件公司是全球自助票务和体验技术平台Eventbrite。该公司运营一个活动管理和票务网站。通过其应用软件，用户可以浏览、创建和推广本地活动。就收入而言，Eventbrite向付费活动组织者收取费用，以换取其在线票务服务。此外，公司迎合了近<a href=\"https://laohu8.com/S/AONE\">一</a>180个国家的百万活动创作者。随着大多数面对面的活动被取消，你可能会认为该公司将处于下降趋势。然而，其上周公布的最近一个季度财报却表明情况并非如此。</blockquote></p><p>In it, the company saw its revenue increase by over 22% quarter-over-quarter. According to CEO Julia Hartz, Eventbrite’s users hosted 4.6 million events throughout 2020. Through Eventbrite, people continued to gather in inventive ways via virtual events, drive-ins, and socially distanced experiences.<img src=\"https://static.tigerbbs.com/128f22262235ece45d047268235c6be1\" tg-width=\"762\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Source: TD Ameritrade TOS</p><p><blockquote>其中，该公司收入环比增长超过22%。据首席执行官朱莉娅·哈茨称，Eventbrite的用户在2020年全年举办了460万场活动。通过Eventbrite，人们继续通过虚拟活动、免下车餐馆和社交距离体验以创造性的方式聚集在一起。资料来源：德美利证券TOS</blockquote></p><p>If anything, this shows the resilience of the company even amidst these trying times. After you factor in improving pandemic conditions, things could be looking up for the company. Investors appear to think so as EB stock has surged by over 12% since these results were posted a week ago. Given all of this, will you be adding EB stock to your watchlist?</p><p><blockquote>如果说有什么不同的话，那就是这显示了该公司即使在艰难时期也具有韧性。在考虑到大流行状况的改善后，公司的情况可能会有所好转。投资者似乎是这么认为的，因为自一周前公布这些业绩以来，EB股价已飙升超过12%。鉴于所有这些，您会将EB股票添加到您的观察列表中吗？</blockquote></p><p>Splunk Inc.</p><p><blockquote>Splunk公司。</blockquote></p><p></p><p>Following that, we have big data analytics software company, Splunk. In brief, the company produces software for searching, monitoring, and analyzing machine-generated big data. Splunk does all this via its Data-to-Everything platform. For the most part, the company helps organizations gain actionable insights from their data regardless of scale. In the age of information, this would serve as a vital service for businesses looking to refine their business strategies. Accordingly, this would position Splunk to continue benefiting from the pandemic-fueled exposure it gained over the past year. Seeing as Splunk posted stellar figures in its fourth-quarter fiscal after yesterday’s closing bell, investors could be watching SPLK stock.</p><p><blockquote>接下来，我们有大数据分析软件公司Splunk。简而言之，该公司生产用于搜索、监控和分析机器生成的大数据的软件。Splunk通过其数据到一切平台来实现这一切。在很大程度上，该公司帮助组织从其数据中获得可操作的见解，无论其规模如何。在信息时代，这将是寻求完善业务战略的企业的一项重要服务。因此，这将使Splunk能够继续受益于过去一年因大流行而获得的风险敞口。鉴于Splunk在昨天收盘后公布了第四季度财报的出色数据，投资者可能会关注SPLK股票。</blockquote></p><p>Diving right into it, the company raked in a total annual recurring revenue (ARR) of $2.36 billion for the quarter. This marks an impressive 41% year-over-year increase. Additionally, Splunk saw its cloud ARR surge by 83% over the same period. In terms of cloud revenue for fiscal 2021, the company posted a 77% increase compared to its fiscal year 2020. No doubt, Splunk continues to ride the boom in corporate cloud spending.<img src=\"https://static.tigerbbs.com/8c4aee1421659dfcebcf9ffe09d7e9c4\" tg-width=\"759\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote>该公司本季度的年度经常性收入(ARR)总额为23.6亿美元。这标志着令人印象深刻的41%的同比增长。此外，Splunk的云ARR同期飙升了83%。就2021财年的云收入而言，该公司比2020财年增长了77%。毫无疑问，Splunk继续受益于企业云支出的繁荣。</blockquote></p><p>Source: TD Ameritrade TOS</p><p><blockquote>资料来源：德美利证券TOS</blockquote></p><p>In closing, CFO Jason Child cites continuous cloud adoption as a driving force for Splunk’s long-term success. Time will tell if this holds to be true. For now, will you be keeping SPLK stock in your sights?</p><p><blockquote>最后，首席财务官Jason Child表示，持续采用云是Splunk长期成功的驱动力。时间会证明这是否属实。目前，您会继续关注SPLK股票吗？</blockquote></p><p>Oracle Corporation</p><p><blockquote>甲骨文公司</blockquote></p><p>Last but not least, we will be looking at software giant, Oracle. The company offers a suite of integrated applications and secure, autonomous infrastructure via its Oracle Cloud platform. Specifically, these applications help organizations by providing sales, marketing, human resources, finance, and manufacturing solutions. Notably, Oracle announced yesterday that its third-quarterearnings callwill be held next Wednesday after market close. This could place ORCL stock on investors’ radars.</p><p><blockquote>最后但同样重要的是，我们将关注软件巨头甲骨文。该公司通过其Oracle云平台提供一套集成应用程序和安全、自主的基础设施。具体来说，这些应用程序通过提供销售、营销、人力资源、财务和制造解决方案来帮助组织。值得注意的是，甲骨文昨天宣布，第三季度财报电话会议将于下周三收盘后举行。这可能会让ORCL股票受到投资者的关注。</blockquote></p><p>For one thing, the company has had a busy month throughout February. For starters, it expanded its hybrid cloud portfolio earlier in the month with the Oracle Roving Edge Infrastructure. The upgrade means that customers can employ Oracle’s secure and scalable cloud services even “in the most remote areas of the world.” Subsequently, the company posted on two occasions regarding its clients in the healthcare sector. On February 11, it revealed that several leading healthcare organizations across the U.S. adopted its services.<img src=\"https://static.tigerbbs.com/37a61353adeec0dab2147bcbf18a0e3f\" tg-width=\"758\" tg-height=\"466\" referrerpolicy=\"no-referrer\">Source: TD Ameritrade TOS</p><p><blockquote>一方面，该公司整个二月份都很忙。首先，它在本月早些时候通过Oracle Roving Edge基础设施扩展了其混合云产品组合。此次升级意味着客户即使在“世界上最偏远的地区”也可以使用Oracle安全且可扩展的云服务。随后，该公司两次发布了有关其医疗保健行业客户的信息。2月11日，它透露美国几家领先的医疗保健组织采用了它的服务。资料来源：德美利证券TOS</blockquote></p><p>According to Oracle, said clients cater to over 26 million Americans annually. Similarly, the company announced that Northwell Health, one of the largest New York health systems is also a client. Overall Oracle continues to expand its services while aiding the healthcare industry amidst the pandemic. Could it be wise to watch ORCL stock ahead of its earnings next week? Your guess is as good as mine.</p><p><blockquote>据甲骨文称，上述客户每年为超过2600万美国人提供服务。同样，该公司宣布纽约最大的医疗系统之一Northwell Health也是其客户。总体而言，甲骨文继续扩大其服务，同时帮助疫情的医疗保健行业。在下周公布财报之前关注ORCL股票是否明智？你的猜测和我的一样好。</blockquote></p><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p><p><blockquote>本文表达的观点和意见是作者的观点和意见，不一定反映纳斯达克公司的观点和意见。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/making-a-list-of-the-top-software-stocks-to-watch-now-4-names-to-know-2021-03-04\">Nasdaq</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":{"SPLK":"Splunk Inc","MSFT":"微软","ORCL":"甲骨文"},"source_url":"https://www.nasdaq.com/articles/making-a-list-of-the-top-software-stocks-to-watch-now-4-names-to-know-2021-03-04","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102182306","content_text":"Are These The Best Software Stocks To Have On Your Watchlist?The past year has been invigorating for software stocks on the stock market, to say the least. This comes as no surprise seeing as software is a vital tool for organizations of all sizes in this age. As a result, investors and software companies alike continue to see big gains. Moving forward, you might be wondering if the software industry can maintain its current momentum. Well, it is important to note that software is a part of the ever-evolving tech industry. Likewise, there are always innovations and refinements to be made over existing software. This coupled with countless applications for software across various industries bodes well for software investors.For instance, Veeva Systems (NYSE: VEEV) caters to the cloud computing needs of the life sciences industry. Just this morning, it revealed that 90% of the biotech research companies it surveyed are looking to significantly improve research methods by adopting new digital strategies. Another example would be digital communications giant Zoom (NASDAQ: ZM). The company’s recent-quarter revenue skyrocketed by 369% year-over-year. But more importantly, it ended the quarter with a whopping $4.2 billion in cash on hand. The likes of which CFO Kelly Steckleberg mentioned would be put towards investing in capacity building and R&D hiring. All this paired with the recent pullbacks could provide an interesting opportunity for investors to buy on the dip. As such, here are fourtop software stocksin the limelight now.4 Top Software Stocks To WatchMicrosoft Corporation(NASDAQ: MSFT)Eventbrite Inc.(NYSE: EB)Splunk Inc.(NASDAQ: SPLK)Oracle Corporation(NYSE: ORCL)Microsoft CorporationIt is hard to talk about software without mentioning software goliath Microsoft. After all, it is the company behind the leading office tool software in the world, Microsoft Office. Given its status as one of thebig tech stocks, most investors would be watching MSFT stock in anticipation of the company’s latest moves. Nevertheless, Microsoft continues to make groundbreaking developments in the software space.To begin with, Microsoft unveiled Microsoft Mesh, a seemingly new frontier in video communication. Simply put, Mesh is the company’s “mixed reality” upgrade to conventional virtual calls. Through a combination of virtual reality (VR) and augmented reality (AR), users will supposedly be able to interact with others as if they were in the same room.Source: TD Ameritrade TOSNow, Microsoft is offering it as both an application and a service via its cloud computing arm, Microsoft Azure. Speaking of Azure, Microsoft also expanded its services with Azure Arc hybrid and multi-cloud capabilities. Briefly, Azure Arc is a set of technologies that extend Azure’s services to “any infrastructure.” In practice, these upgrades give customers the flexibility and agility to innovate with Azure, anywhere. With Microsoft firing on all cylinders, could it be a good time to watch MSFT stock?Eventbrite Inc.Another software player in focus now would be global self-service ticketing and experience tech platform Eventbrite. The company operates an event management and ticketing website. Through its application software, users can browse, create, and promote local events. In terms of revenue, Eventbrite charges a fee to paid-event organizers in exchange for its online ticketing services. Moreover, the company caters to nearly one million event creators across 180 countries. With most in-person events being canceled, you’d think that the company would be on the downtrend. However, its recent quarter fiscal posted last week suggests otherwise.In it, the company saw its revenue increase by over 22% quarter-over-quarter. According to CEO Julia Hartz, Eventbrite’s users hosted 4.6 million events throughout 2020. Through Eventbrite, people continued to gather in inventive ways via virtual events, drive-ins, and socially distanced experiences.Source: TD Ameritrade TOSIf anything, this shows the resilience of the company even amidst these trying times. After you factor in improving pandemic conditions, things could be looking up for the company. Investors appear to think so as EB stock has surged by over 12% since these results were posted a week ago. Given all of this, will you be adding EB stock to your watchlist?Splunk Inc.Following that, we have big data analytics software company, Splunk. In brief, the company produces software for searching, monitoring, and analyzing machine-generated big data. Splunk does all this via its Data-to-Everything platform. For the most part, the company helps organizations gain actionable insights from their data regardless of scale. In the age of information, this would serve as a vital service for businesses looking to refine their business strategies. Accordingly, this would position Splunk to continue benefiting from the pandemic-fueled exposure it gained over the past year. Seeing as Splunk posted stellar figures in its fourth-quarter fiscal after yesterday’s closing bell, investors could be watching SPLK stock.Diving right into it, the company raked in a total annual recurring revenue (ARR) of $2.36 billion for the quarter. This marks an impressive 41% year-over-year increase. Additionally, Splunk saw its cloud ARR surge by 83% over the same period. In terms of cloud revenue for fiscal 2021, the company posted a 77% increase compared to its fiscal year 2020. No doubt, Splunk continues to ride the boom in corporate cloud spending.Source: TD Ameritrade TOSIn closing, CFO Jason Child cites continuous cloud adoption as a driving force for Splunk’s long-term success. Time will tell if this holds to be true. For now, will you be keeping SPLK stock in your sights?Oracle CorporationLast but not least, we will be looking at software giant, Oracle. The company offers a suite of integrated applications and secure, autonomous infrastructure via its Oracle Cloud platform. Specifically, these applications help organizations by providing sales, marketing, human resources, finance, and manufacturing solutions. Notably, Oracle announced yesterday that its third-quarterearnings callwill be held next Wednesday after market close. This could place ORCL stock on investors’ radars.For one thing, the company has had a busy month throughout February. For starters, it expanded its hybrid cloud portfolio earlier in the month with the Oracle Roving Edge Infrastructure. The upgrade means that customers can employ Oracle’s secure and scalable cloud services even “in the most remote areas of the world.” Subsequently, the company posted on two occasions regarding its clients in the healthcare sector. On February 11, it revealed that several leading healthcare organizations across the U.S. adopted its services.Source: TD Ameritrade TOSAccording to Oracle, said clients cater to over 26 million Americans annually. Similarly, the company announced that Northwell Health, one of the largest New York health systems is also a client. Overall Oracle continues to expand its services while aiding the healthcare industry amidst the pandemic. Could it be wise to watch ORCL stock ahead of its earnings next week? Your guess is as good as mine.The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.","news_type":1,"symbols_score_info":{"SPLK":0.9,"ORCL":0.9,"MSFT":0.9,"EB":0.9}},"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361696931,"gmtCreate":1614226487623,"gmtModify":1634550609388,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576812739314933","idStr":"3576812739314933"},"themes":[],"htmlText":"Not sure","listText":"Not sure","text":"Not sure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/361696931","repostId":"1161110707","repostType":4,"repost":{"id":"1161110707","kind":"news","pubTimestamp":1614224934,"share":"https://www.laohu8.com/m/news/1161110707?lang=zh_CN&edition=full","pubTime":"2021-02-25 11:48","market":"us","language":"en","title":"Apple Stock Flirts With Bear Market: Buy Now?<blockquote>苹果股票即将进入熊市：立即购买？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1161110707","media":"TheStreet","summary":"Apple could enter bear market again, for the first time since September 2020. While it is hard to tell how much lower shares might go, investors who bought Apple on the dip have historically done well.At the start of Tuesday’s trading session, on February 23, Apple traded below $120 per share for the first time since November 2020 – i.e. a three-month low. At those intraday levels, the stock had corrected 18% from the all-time peak, reached early on January 25 of this year.For the first time sin","content":"<p>Apple could enter bear market again, for the first time since September 2020. While it is hard to tell how much lower shares might go, investors who bought Apple on the dip have historically done well.</p><p><blockquote>苹果可能再次进入熊市，这是自2020年9月以来的首次。虽然很难说股价可能会下跌多少，但逢低买入苹果的投资者历来表现良好。</blockquote></p><p> At the start of Tuesday’s trading session, on February 23, Apple traded below $120 per share for the first time since November 2020 – i.e. a three-month low. At those intraday levels, the stock had corrected 18% from the all-time peak, reached early on January 25 of this year.</p><p><blockquote>2月23日周二交易时段开始时，苹果股价自2020年11月以来首次跌破每股120美元，即三个月低点。在这些盘中水平上，该股已较今年1月25日早些时候达到的历史峰值回调了18%。</blockquote></p><p> For the first time since September 2020, Apple could enter bear territory again, which is defined as a 20% correction for the peak.</p><p><blockquote>自2020年9月以来，苹果可能首次再次进入熊市区域，这被定义为峰值修正20%。</blockquote></p><p> The question: is this the right time to buy Apple on weakness, or should investors wait for a steeper decline before committing to the stock?</p><p><blockquote>问题是：现在是在苹果疲软时买入的最佳时机，还是投资者应该等待股价进一步下跌后再买入该股？</blockquote></p><p> <b>No sign of deteriorating fundamentals</b></p><p><blockquote><b>基本面没有恶化的迹象</b></blockquote></p><p> It helps to understand that, to the best of my knowledge, the pressure on Apple stock seems to be unrelated to the company’s fundamentals.</p><p><blockquote>据我所知，苹果股票面临的压力似乎与公司基本面无关，这有助于理解。</blockquote></p><p> I made this argument recently, when I pointed out that the iPhone (half of Apple’s revenues in calendar 2020) had performed superbly in the most recent year. But the 5G super cycle in the smartphone segment only begins to tell the story.</p><p><blockquote>我最近提出了这一论点，当时我指出iPhone（占苹果2020年收入的一半）在最近一年表现出色。但智能手机领域的5G超级周期才刚刚开始。</blockquote></p><p> The new year is also shaping up to be a good one for the Mac (nearly 10% of calendar 2020 revenues), now that the M1 chip&nbsp;seems to be helping to drive demand higher&nbsp;for Apple’s personal computers.</p><p><blockquote>新的一年对Mac来说也将是一个好年景（占2020年收入的近10%），因为M1芯片似乎有助于推动对苹果个人电脑的需求上升。</blockquote></p><p> Lastly, I believe that services could double again, as it did between 2016 and 2020, within the next five years. This should be possible for two reasons:</p><p><blockquote>最后，我相信在未来五年内，服务业可能会像2016年至2020年那样再次翻一番。这应该是可能的，原因有二：</blockquote></p><p> <ul>  <li>The introduction of new offerings, as Apple has done with Fitness+. Each new service, even if nowhere near as successful as iCloud or Apple Music, will be accretive to revenues and boost sales growth.</li>  <li>A more attractive pricing arrangement should increase the demand. Here, I am specifically&nbsp;thinking of the Apple One bundle, which could serve as a nudge for new subscribers.</li> </ul> <b>A look at history</b></p><p><blockquote><ul><li>推出新产品，就像苹果推出Fitness+一样。每项新服务，即使远不如iCloud或苹果音乐成功，也将增加收入并促进销售增长。</li><li>更具吸引力的定价安排应该会增加需求。在这里，我特别想到了苹果One捆绑包，它可以作为新用户的推动。</li></ul><b>回顾历史</b></blockquote></p><p> With fundamentals looking solid, and absent some sort of surprise, it is reasonable to assume that Apple shares will eventually find their way north once again.</p><p><blockquote>由于基本面看起来很稳健，并且没有出现任何意外，有理由假设苹果股价最终将再次向北。</blockquote></p><p> Of course, it is much harder to tell when this will happen, and how far lower the stock needs to go before it rebounds. Still, it helps to look at history.</p><p><blockquote>当然，很难说这种情况何时会发生，以及该股需要跌到多低才能反弹。尽管如此，回顾历史还是有帮助的。</blockquote></p><p> Many investors may not know that Apple is not at all a stranger to bear-like corrections. Since the company went public, in 1980, Apple’s share price remained 20% below previous peaks 61% of the time – i.e. 6 out of every 10 trading days, on average.</p><p><blockquote>许多投资者可能不知道，苹果对熊市式的调整一点也不陌生。自1980年公司上市以来，苹果的股价在61%的时间里仍比之前的峰值低20%，即平均每10个交易日中有6个交易日。</blockquote></p><p> Worth noting, the frequency decreased sharply in the past decade, as Apple matured.</p><p><blockquote>值得注意的是，随着苹果的成熟，这种频率在过去十年中急剧下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04a679a703e78a8e0194aeef132bedd2\" tg-width=\"1240\" tg-height=\"635\"><span>Apple's drawdowns from a previous peak.</span></p><p><blockquote><p class=\"t-img-caption\"><span>苹果从之前的峰值下降。</span></p></blockquote></p><p> Because the stock has invariably rebounded off its lows, investors who bet on Apple’s weakness eventually reaped the benefits. So, while it is hard to say that $120 apiece is a bottom for Apple stock, the potential long-term returns will likely rise as shares fall further.</p><p><blockquote>由于该股总是从低点反弹，押注苹果疲软的投资者最终获得了好处。因此，虽然很难说每股120美元是苹果股票的底部，但随着股价进一步下跌，潜在的长期回报可能会上升。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock Flirts With Bear Market: Buy Now?<blockquote>苹果股票即将进入熊市：立即购买？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock Flirts With Bear Market: Buy Now?<blockquote>苹果股票即将进入熊市：立即购买？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-02-25 11:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple could enter bear market again, for the first time since September 2020. While it is hard to tell how much lower shares might go, investors who bought Apple on the dip have historically done well.</p><p><blockquote>苹果可能再次进入熊市，这是自2020年9月以来的首次。虽然很难说股价可能会下跌多少，但逢低买入苹果的投资者历来表现良好。</blockquote></p><p> At the start of Tuesday’s trading session, on February 23, Apple traded below $120 per share for the first time since November 2020 – i.e. a three-month low. At those intraday levels, the stock had corrected 18% from the all-time peak, reached early on January 25 of this year.</p><p><blockquote>2月23日周二交易时段开始时，苹果股价自2020年11月以来首次跌破每股120美元，即三个月低点。在这些盘中水平上，该股已较今年1月25日早些时候达到的历史峰值回调了18%。</blockquote></p><p> For the first time since September 2020, Apple could enter bear territory again, which is defined as a 20% correction for the peak.</p><p><blockquote>自2020年9月以来，苹果可能首次再次进入熊市区域，这被定义为峰值修正20%。</blockquote></p><p> The question: is this the right time to buy Apple on weakness, or should investors wait for a steeper decline before committing to the stock?</p><p><blockquote>问题是：现在是在苹果疲软时买入的最佳时机，还是投资者应该等待股价进一步下跌后再买入该股？</blockquote></p><p> <b>No sign of deteriorating fundamentals</b></p><p><blockquote><b>基本面没有恶化的迹象</b></blockquote></p><p> It helps to understand that, to the best of my knowledge, the pressure on Apple stock seems to be unrelated to the company’s fundamentals.</p><p><blockquote>据我所知，苹果股票面临的压力似乎与公司基本面无关，这有助于理解。</blockquote></p><p> I made this argument recently, when I pointed out that the iPhone (half of Apple’s revenues in calendar 2020) had performed superbly in the most recent year. But the 5G super cycle in the smartphone segment only begins to tell the story.</p><p><blockquote>我最近提出了这一论点，当时我指出iPhone（占苹果2020年收入的一半）在最近一年表现出色。但智能手机领域的5G超级周期才刚刚开始。</blockquote></p><p> The new year is also shaping up to be a good one for the Mac (nearly 10% of calendar 2020 revenues), now that the M1 chip&nbsp;seems to be helping to drive demand higher&nbsp;for Apple’s personal computers.</p><p><blockquote>新的一年对Mac来说也将是一个好年景（占2020年收入的近10%），因为M1芯片似乎有助于推动对苹果个人电脑的需求上升。</blockquote></p><p> Lastly, I believe that services could double again, as it did between 2016 and 2020, within the next five years. This should be possible for two reasons:</p><p><blockquote>最后，我相信在未来五年内，服务业可能会像2016年至2020年那样再次翻一番。这应该是可能的，原因有二：</blockquote></p><p> <ul>  <li>The introduction of new offerings, as Apple has done with Fitness+. Each new service, even if nowhere near as successful as iCloud or Apple Music, will be accretive to revenues and boost sales growth.</li>  <li>A more attractive pricing arrangement should increase the demand. Here, I am specifically&nbsp;thinking of the Apple One bundle, which could serve as a nudge for new subscribers.</li> </ul> <b>A look at history</b></p><p><blockquote><ul><li>推出新产品，就像苹果推出Fitness+一样。每项新服务，即使远不如iCloud或苹果音乐成功，也将增加收入并促进销售增长。</li><li>更具吸引力的定价安排应该会增加需求。在这里，我特别想到了苹果One捆绑包，它可以作为新用户的推动。</li></ul><b>回顾历史</b></blockquote></p><p> With fundamentals looking solid, and absent some sort of surprise, it is reasonable to assume that Apple shares will eventually find their way north once again.</p><p><blockquote>由于基本面看起来很稳健，并且没有出现任何意外，有理由假设苹果股价最终将再次向北。</blockquote></p><p> Of course, it is much harder to tell when this will happen, and how far lower the stock needs to go before it rebounds. Still, it helps to look at history.</p><p><blockquote>当然，很难说这种情况何时会发生，以及该股需要跌到多低才能反弹。尽管如此，回顾历史还是有帮助的。</blockquote></p><p> Many investors may not know that Apple is not at all a stranger to bear-like corrections. Since the company went public, in 1980, Apple’s share price remained 20% below previous peaks 61% of the time – i.e. 6 out of every 10 trading days, on average.</p><p><blockquote>许多投资者可能不知道，苹果对熊市式的调整一点也不陌生。自1980年公司上市以来，苹果的股价在61%的时间里仍比之前的峰值低20%，即平均每10个交易日中有6个交易日。</blockquote></p><p> Worth noting, the frequency decreased sharply in the past decade, as Apple matured.</p><p><blockquote>值得注意的是，随着苹果的成熟，这种频率在过去十年中急剧下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04a679a703e78a8e0194aeef132bedd2\" tg-width=\"1240\" tg-height=\"635\"><span>Apple's drawdowns from a previous peak.</span></p><p><blockquote><p class=\"t-img-caption\"><span>苹果从之前的峰值下降。</span></p></blockquote></p><p> Because the stock has invariably rebounded off its lows, investors who bet on Apple’s weakness eventually reaped the benefits. So, while it is hard to say that $120 apiece is a bottom for Apple stock, the potential long-term returns will likely rise as shares fall further.</p><p><blockquote>由于该股总是从低点反弹，押注苹果疲软的投资者最终获得了好处。因此，虽然很难说每股120美元是苹果股票的底部，但随着股价进一步下跌，潜在的长期回报可能会上升。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/stock/apple-stock-flirts-with-bear-market-buy-now\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/apple-stock-flirts-with-bear-market-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161110707","content_text":"Apple could enter bear market again, for the first time since September 2020. While it is hard to tell how much lower shares might go, investors who bought Apple on the dip have historically done well.\nAt the start of Tuesday’s trading session, on February 23, Apple traded below $120 per share for the first time since November 2020 – i.e. a three-month low. At those intraday levels, the stock had corrected 18% from the all-time peak, reached early on January 25 of this year.\nFor the first time since September 2020, Apple could enter bear territory again, which is defined as a 20% correction for the peak.\nThe question: is this the right time to buy Apple on weakness, or should investors wait for a steeper decline before committing to the stock?\nNo sign of deteriorating fundamentals\nIt helps to understand that, to the best of my knowledge, the pressure on Apple stock seems to be unrelated to the company’s fundamentals.\nI made this argument recently, when I pointed out that the iPhone (half of Apple’s revenues in calendar 2020) had performed superbly in the most recent year. But the 5G super cycle in the smartphone segment only begins to tell the story.\nThe new year is also shaping up to be a good one for the Mac (nearly 10% of calendar 2020 revenues), now that the M1 chip seems to be helping to drive demand higher for Apple’s personal computers.\nLastly, I believe that services could double again, as it did between 2016 and 2020, within the next five years. This should be possible for two reasons:\n\nThe introduction of new offerings, as Apple has done with Fitness+. Each new service, even if nowhere near as successful as iCloud or Apple Music, will be accretive to revenues and boost sales growth.\nA more attractive pricing arrangement should increase the demand. Here, I am specifically thinking of the Apple One bundle, which could serve as a nudge for new subscribers.\n\nA look at history\nWith fundamentals looking solid, and absent some sort of surprise, it is reasonable to assume that Apple shares will eventually find their way north once again.\nOf course, it is much harder to tell when this will happen, and how far lower the stock needs to go before it rebounds. Still, it helps to look at history.\nMany investors may not know that Apple is not at all a stranger to bear-like corrections. Since the company went public, in 1980, Apple’s share price remained 20% below previous peaks 61% of the time – i.e. 6 out of every 10 trading days, on average.\nWorth noting, the frequency decreased sharply in the past decade, as Apple matured.\nApple's drawdowns from a previous peak.\nBecause the stock has invariably rebounded off its lows, investors who bet on Apple’s weakness eventually reaped the benefits. So, while it is hard to say that $120 apiece is a bottom for Apple stock, the potential long-term returns will likely rise as shares fall further.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":487,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137908210,"gmtCreate":1622277756630,"gmtModify":1631892260279,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576812739314933","idStr":"3576812739314933"},"themes":[],"htmlText":"Sigh","listText":"Sigh","text":"Sigh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/137908210","repostId":"1188611521","repostType":4,"isVote":1,"tweetType":1,"viewCount":3194,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345577515,"gmtCreate":1618326535637,"gmtModify":1634293677817,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576812739314933","idStr":"3576812739314933"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345577515","repostId":"2127108970","repostType":4,"isVote":1,"tweetType":1,"viewCount":551,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186207754,"gmtCreate":1623499075078,"gmtModify":1631892260236,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576812739314933","idStr":"3576812739314933"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186207754","repostId":"2142206100","repostType":4,"isVote":1,"tweetType":1,"viewCount":3325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109829498,"gmtCreate":1619684284814,"gmtModify":1631892260336,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576812739314933","idStr":"3576812739314933"},"themes":[],"htmlText":"😁😁","listText":"😁😁","text":"😁😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109829498","repostId":"1169827391","repostType":4,"repost":{"id":"1169827391","kind":"news","pubTimestamp":1619664680,"share":"https://www.laohu8.com/m/news/1169827391?lang=zh_CN&edition=full","pubTime":"2021-04-29 10:51","market":"us","language":"en","title":"Amazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169827391","media":"Barrons","summary":"Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stell","content":"<p>Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stellar fourth-quarter results that were overshadowed by the news that CEO Jeff Bezos will shift into the role of&nbsp; executive chairman, with Amazon Web Services chief Andy Jassy taking over the top slot.</p><p><blockquote>自从这家电子商务和云计算巨头公布了出色的第四季度业绩以来，亚马逊的股价几乎没有变化，但首席执行官杰夫·贝索斯(Jeff Bezos)将出任执行董事长、亚马逊网络服务(Amazon Web Services)首席执行官安迪·贾西(Andy Jassy)接任执行董事长的消息掩盖了这一消息。顶部插槽。</blockquote></p><p> The combination of that pending change, along with uncertainty over how the reopening of the economy will affect shopping behavior, has some investors a little uneasy about the stock’s near-term prospects.</p><p><blockquote>这种即将发生的变化，加上经济重新开放将如何影响购物行为的不确定性，让一些投资者对该股的近期前景感到有点不安。</blockquote></p><p> They will get a fresh look at the situation after the close of trading on Thursday, when Amazon (ticker: AMZN) posts its results for the March quarter. Amazon has told investors to expect revenue of $100 billion to $106 billion, with operating income of between $3 billion and $6.5 billion, and about $2 billion in costs related to Covid-19. The Wall Street consensus calls for revenue of $104.5 billion, with profits of $9.54 a share.</p><p><blockquote>周四收盘后，亚马逊（股票代码：AMZN）将公布三月份季度业绩，他们将重新审视形势。亚马逊曾告诉投资者，预计营收为1000亿至1060亿美元，营业收入在30亿至65亿美元之间，与Covid-19相关的成本约为20亿美元。华尔街一致认为评级营收为1045亿美元，每股利润为9.54美元。</blockquote></p><p> The Street also clearly expects the quarter’s results to show continued strength in e-commerce. According to FactSet, Wall Street analysts expect online-stores revenue of $51.5 billion, up 41% from a year ago, with third-party sales of $21.7 billion, up 50%. Subscription revenues are expected to be $7.3 billion, up 32%, while revenue from physical stores is expected to be $4.3 billion, down 8%. AWS revenues are projected at $13.2 billion, up 29%.</p><p><blockquote>华尔街还明确预计本季度业绩将显示电子商务的持续强劲。根据FactSet的数据，华尔街分析师预计在线商店收入为515亿美元，同比增长41%，第三方销售额为217亿美元，增长50%。订阅收入预计为73亿美元，增长32%，而实体店收入预计为43亿美元，下降8%。AWS收入预计为132亿美元，增长29%。</blockquote></p><p> One open question is what forecasts the company will make for the June quarter as parts of the country begin to return to more normal economic activity. The Street is projecting June quarter revenue of $108.7 billion and profits of $10.81 a share.</p><p><blockquote>一个悬而未决的问题是，随着该国部分地区开始恢复更正常的经济活动，该公司将对六月季度做出什么预测。华尔街预计6月份季度营收为1087亿美元，每股利润为10.81美元。</blockquote></p><p> In an earnings preview note, Truist analyst Youssef Squali&nbsp;reiterated a Buy rating on the stock and a target of $3,750 for the share price. The stock closed Tuesday at $3,417.43, up 4.9% year to date.</p><p><blockquote>在财报预览报告中，Truist分析师Youssef Squali重申了对该股的买入评级，并将股价目标定为3,750美元。该股周二收于3,417.43美元，今年迄今上涨4.9%。</blockquote></p><p> He expects revenue to come in at the high end of the range Amazon predicted, saying e-commerce demand has remained strong both in the U.S. and internationally, given that the pandemic has been slow to subside. Conversations with people in the industry and strong earning disclosed last week by Snap bode well for Amazon’s ad business, which is lumped into a category called “other,” he wrote. He also thinks the market continues to underestimate the long-term growth potential of the dominance of the company’s two key businesses—e-commerce and AWS—as well as the company’s “emerging leadership in online advertising.”</p><p><blockquote>他预计收入将达到亚马逊预测范围的高端，并表示鉴于疫情缓慢消退，美国和国际上的电子商务需求仍然强劲。他写道，与业内人士的对话以及Snap上周披露的强劲盈利对亚马逊的广告业务来说是个好兆头，亚马逊的广告业务被归入“其他”类别。他还认为，市场继续低估该公司两项关键业务——电子商务和AWS——的主导地位的长期增长潜力，以及该公司“在在线广告领域新兴的领导地位”。</blockquote></p><p> Stifel analyst Scott Devitt&nbsp;is similarly bullish, repeating a Buy rating and $4,000 target price. He sees 40% top-line growth, a little ahead of the Street consensus. “The focus on the report will largely center on the outlook as Amazon laps the difficult prior year compares from the onset of the pandemic,” he wrote in a research note.</p><p><blockquote>Stifel分析师Scott Devitt同样看好，重申买入评级和4,000美元的目标价。他预计营收将增长40%，略高于华尔街共识。他在一份研究报告中写道：“与大流行爆发以来的前一年相比，亚马逊经历了困难的一年，该报告的焦点将主要集中在前景上。”</blockquote></p><p> “Growth in a post-Covid environment remains largely uncertain for Amazon and across the e-commerce landscape,” Devitt said. “Our [June quarter] revenue estimates are ahead of consensus as we see tailwinds stemming from strong growth in new Prime members and diversification across geographies and categories supporting the retail business as economies recover.” He also said AWS and the ad business are well positioned for a recovery.</p><p><blockquote>德维特表示：“对于亚马逊和整个电子商务领域来说，后疫情环境中的增长在很大程度上仍然存在不确定性。”“我们的[六月季度]收入预期领先于共识，因为我们看到随着经济复苏，新Prime会员的强劲增长以及跨地区和类别的多元化为零售业务提供了支持。”他还表示，AWS和广告业务已做好复苏的准备。</blockquote></p><p> Wedbush analyst Michael Pachter likewise maintained an Outperform rating and $4,000 target. He thinks the company will post more revenue and operating income than it had forecast, an outperformance resulting from market-share gains in e-commerce.&nbsp;</p><p><blockquote>Wedbush分析师Michael Pachter同样维持跑赢大盘评级和4,000美元的目标。他认为该公司的收入和营业收入将超出预期，这是电子商务市场份额增长带来的优异表现。</blockquote></p><p> “We believe that a more stable economy, continued imposition of shelter-in-place orders in many of Amazon’s markets, continued expansion into the very large grocery segment, and outstanding execution likely drove strong results in Q1,” he said. “In addition, Amazon Pharmacy (launched February 2) represents a U.S. [addressable market] of around $600 billion, so any market share gains could provide further upside.”</p><p><blockquote>他表示：“我们认为，经济更加稳定、亚马逊许多市场继续实施就地避难订单、向超大型杂货领域的持续扩张以及出色的执行力可能会推动第一季度的强劲业绩。”“此外，亚马逊药房（2月2日推出）代表了约6000亿美元的美国[潜在市场]，因此任何市场份额的增长都可能提供进一步的上涨空间。”</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>Amazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-29 10:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stellar fourth-quarter results that were overshadowed by the news that CEO Jeff Bezos will shift into the role of&nbsp; executive chairman, with Amazon Web Services chief Andy Jassy taking over the top slot.</p><p><blockquote>自从这家电子商务和云计算巨头公布了出色的第四季度业绩以来，亚马逊的股价几乎没有变化，但首席执行官杰夫·贝索斯(Jeff Bezos)将出任执行董事长、亚马逊网络服务(Amazon Web Services)首席执行官安迪·贾西(Andy Jassy)接任执行董事长的消息掩盖了这一消息。顶部插槽。</blockquote></p><p> The combination of that pending change, along with uncertainty over how the reopening of the economy will affect shopping behavior, has some investors a little uneasy about the stock’s near-term prospects.</p><p><blockquote>这种即将发生的变化，加上经济重新开放将如何影响购物行为的不确定性，让一些投资者对该股的近期前景感到有点不安。</blockquote></p><p> They will get a fresh look at the situation after the close of trading on Thursday, when Amazon (ticker: AMZN) posts its results for the March quarter. Amazon has told investors to expect revenue of $100 billion to $106 billion, with operating income of between $3 billion and $6.5 billion, and about $2 billion in costs related to Covid-19. The Wall Street consensus calls for revenue of $104.5 billion, with profits of $9.54 a share.</p><p><blockquote>周四收盘后，亚马逊（股票代码：AMZN）将公布三月份季度业绩，他们将重新审视形势。亚马逊曾告诉投资者，预计营收为1000亿至1060亿美元，营业收入在30亿至65亿美元之间，与Covid-19相关的成本约为20亿美元。华尔街一致认为评级营收为1045亿美元，每股利润为9.54美元。</blockquote></p><p> The Street also clearly expects the quarter’s results to show continued strength in e-commerce. According to FactSet, Wall Street analysts expect online-stores revenue of $51.5 billion, up 41% from a year ago, with third-party sales of $21.7 billion, up 50%. Subscription revenues are expected to be $7.3 billion, up 32%, while revenue from physical stores is expected to be $4.3 billion, down 8%. AWS revenues are projected at $13.2 billion, up 29%.</p><p><blockquote>华尔街还明确预计本季度业绩将显示电子商务的持续强劲。根据FactSet的数据，华尔街分析师预计在线商店收入为515亿美元，同比增长41%，第三方销售额为217亿美元，增长50%。订阅收入预计为73亿美元，增长32%，而实体店收入预计为43亿美元，下降8%。AWS收入预计为132亿美元，增长29%。</blockquote></p><p> One open question is what forecasts the company will make for the June quarter as parts of the country begin to return to more normal economic activity. The Street is projecting June quarter revenue of $108.7 billion and profits of $10.81 a share.</p><p><blockquote>一个悬而未决的问题是，随着该国部分地区开始恢复更正常的经济活动，该公司将对六月季度做出什么预测。华尔街预计6月份季度营收为1087亿美元，每股利润为10.81美元。</blockquote></p><p> In an earnings preview note, Truist analyst Youssef Squali&nbsp;reiterated a Buy rating on the stock and a target of $3,750 for the share price. The stock closed Tuesday at $3,417.43, up 4.9% year to date.</p><p><blockquote>在财报预览报告中，Truist分析师Youssef Squali重申了对该股的买入评级，并将股价目标定为3,750美元。该股周二收于3,417.43美元，今年迄今上涨4.9%。</blockquote></p><p> He expects revenue to come in at the high end of the range Amazon predicted, saying e-commerce demand has remained strong both in the U.S. and internationally, given that the pandemic has been slow to subside. Conversations with people in the industry and strong earning disclosed last week by Snap bode well for Amazon’s ad business, which is lumped into a category called “other,” he wrote. He also thinks the market continues to underestimate the long-term growth potential of the dominance of the company’s two key businesses—e-commerce and AWS—as well as the company’s “emerging leadership in online advertising.”</p><p><blockquote>他预计收入将达到亚马逊预测范围的高端，并表示鉴于疫情缓慢消退，美国和国际上的电子商务需求仍然强劲。他写道，与业内人士的对话以及Snap上周披露的强劲盈利对亚马逊的广告业务来说是个好兆头，亚马逊的广告业务被归入“其他”类别。他还认为，市场继续低估该公司两项关键业务——电子商务和AWS——的主导地位的长期增长潜力，以及该公司“在在线广告领域新兴的领导地位”。</blockquote></p><p> Stifel analyst Scott Devitt&nbsp;is similarly bullish, repeating a Buy rating and $4,000 target price. He sees 40% top-line growth, a little ahead of the Street consensus. “The focus on the report will largely center on the outlook as Amazon laps the difficult prior year compares from the onset of the pandemic,” he wrote in a research note.</p><p><blockquote>Stifel分析师Scott Devitt同样看好，重申买入评级和4,000美元的目标价。他预计营收将增长40%，略高于华尔街共识。他在一份研究报告中写道：“与大流行爆发以来的前一年相比，亚马逊经历了困难的一年，该报告的焦点将主要集中在前景上。”</blockquote></p><p> “Growth in a post-Covid environment remains largely uncertain for Amazon and across the e-commerce landscape,” Devitt said. “Our [June quarter] revenue estimates are ahead of consensus as we see tailwinds stemming from strong growth in new Prime members and diversification across geographies and categories supporting the retail business as economies recover.” He also said AWS and the ad business are well positioned for a recovery.</p><p><blockquote>德维特表示：“对于亚马逊和整个电子商务领域来说，后疫情环境中的增长在很大程度上仍然存在不确定性。”“我们的[六月季度]收入预期领先于共识，因为我们看到随着经济复苏，新Prime会员的强劲增长以及跨地区和类别的多元化为零售业务提供了支持。”他还表示，AWS和广告业务已做好复苏的准备。</blockquote></p><p> Wedbush analyst Michael Pachter likewise maintained an Outperform rating and $4,000 target. He thinks the company will post more revenue and operating income than it had forecast, an outperformance resulting from market-share gains in e-commerce.&nbsp;</p><p><blockquote>Wedbush分析师Michael Pachter同样维持跑赢大盘评级和4,000美元的目标。他认为该公司的收入和营业收入将超出预期，这是电子商务市场份额增长带来的优异表现。</blockquote></p><p> “We believe that a more stable economy, continued imposition of shelter-in-place orders in many of Amazon’s markets, continued expansion into the very large grocery segment, and outstanding execution likely drove strong results in Q1,” he said. “In addition, Amazon Pharmacy (launched February 2) represents a U.S. [addressable market] of around $600 billion, so any market share gains could provide further upside.”</p><p><blockquote>他表示：“我们认为，经济更加稳定、亚马逊许多市场继续实施就地避难订单、向超大型杂货领域的持续扩张以及出色的执行力可能会推动第一季度的强劲业绩。”“此外，亚马逊药房（2月2日推出）代表了约6000亿美元的美国[潜在市场]，因此任何市场份额的增长都可能提供进一步的上涨空间。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/amazon-is-likely-to-post-blowout-profits-the-question-is-what-follows-51619556363?mod=hp_LEADSUPP_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.barrons.com/articles/amazon-is-likely-to-post-blowout-profits-the-question-is-what-follows-51619556363?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169827391","content_text":"Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stellar fourth-quarter results that were overshadowed by the news that CEO Jeff Bezos will shift into the role of  executive chairman, with Amazon Web Services chief Andy Jassy taking over the top slot.\nThe combination of that pending change, along with uncertainty over how the reopening of the economy will affect shopping behavior, has some investors a little uneasy about the stock’s near-term prospects.\nThey will get a fresh look at the situation after the close of trading on Thursday, when Amazon (ticker: AMZN) posts its results for the March quarter. Amazon has told investors to expect revenue of $100 billion to $106 billion, with operating income of between $3 billion and $6.5 billion, and about $2 billion in costs related to Covid-19. The Wall Street consensus calls for revenue of $104.5 billion, with profits of $9.54 a share.\nThe Street also clearly expects the quarter’s results to show continued strength in e-commerce. According to FactSet, Wall Street analysts expect online-stores revenue of $51.5 billion, up 41% from a year ago, with third-party sales of $21.7 billion, up 50%. Subscription revenues are expected to be $7.3 billion, up 32%, while revenue from physical stores is expected to be $4.3 billion, down 8%. AWS revenues are projected at $13.2 billion, up 29%.\nOne open question is what forecasts the company will make for the June quarter as parts of the country begin to return to more normal economic activity. The Street is projecting June quarter revenue of $108.7 billion and profits of $10.81 a share.\nIn an earnings preview note, Truist analyst Youssef Squali reiterated a Buy rating on the stock and a target of $3,750 for the share price. The stock closed Tuesday at $3,417.43, up 4.9% year to date.\nHe expects revenue to come in at the high end of the range Amazon predicted, saying e-commerce demand has remained strong both in the U.S. and internationally, given that the pandemic has been slow to subside. Conversations with people in the industry and strong earning disclosed last week by Snap bode well for Amazon’s ad business, which is lumped into a category called “other,” he wrote. He also thinks the market continues to underestimate the long-term growth potential of the dominance of the company’s two key businesses—e-commerce and AWS—as well as the company’s “emerging leadership in online advertising.”\nStifel analyst Scott Devitt is similarly bullish, repeating a Buy rating and $4,000 target price. He sees 40% top-line growth, a little ahead of the Street consensus. “The focus on the report will largely center on the outlook as Amazon laps the difficult prior year compares from the onset of the pandemic,” he wrote in a research note.\n“Growth in a post-Covid environment remains largely uncertain for Amazon and across the e-commerce landscape,” Devitt said. “Our [June quarter] revenue estimates are ahead of consensus as we see tailwinds stemming from strong growth in new Prime members and diversification across geographies and categories supporting the retail business as economies recover.” He also said AWS and the ad business are well positioned for a recovery.\nWedbush analyst Michael Pachter likewise maintained an Outperform rating and $4,000 target. He thinks the company will post more revenue and operating income than it had forecast, an outperformance resulting from market-share gains in e-commerce. \n“We believe that a more stable economy, continued imposition of shelter-in-place orders in many of Amazon’s markets, continued expansion into the very large grocery segment, and outstanding execution likely drove strong results in Q1,” he said. “In addition, Amazon Pharmacy (launched February 2) represents a U.S. [addressable market] of around $600 billion, so any market share gains could provide further upside.”","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366105602,"gmtCreate":1614403520106,"gmtModify":1703477345432,"author":{"id":"3576812739314933","authorId":"3576812739314933","name":"Xyl","avatar":"https://static.tigerbbs.com/bc1d37faac006c24945fb274845dbd58","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576812739314933","idStr":"3576812739314933"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/366105602","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}