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2021-05-26

$Tiger Brokers(TIGR)$30?

2021-04-29

Please help me like

NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>

2021-03-17

comment please

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2021-04-22

wow

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2021-04-14

comment

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2021-04-01

comment

US.weekly jobless claims total 719,000, above expected<blockquote>美国每周初请失业金人数总计71.9万人，高于预期</blockquote>

2021-03-31

comment and like

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2021-05-07

ooh

Amazon: The Most Clearly Undervalued Company<blockquote>亚马逊：最明显被低估的公司</blockquote>

2021-04-26

🤔🤔

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2021-03-26

wow!

China’s $6 Billion Social E-Commerce App Hires CFO as It Eyes US IPO<blockquote>中国价值60亿美元的社交电子商务应用聘请首席财务官，着眼于美国IPO</blockquote>

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Brokers(TIGR)$30?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/132038450","isVote":1,"tweetType":1,"viewCount":1036,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138223867,"gmtCreate":1621944803659,"gmtModify":1634185294801,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/138223867","repostId":"2138164693","repostType":4,"isVote":1,"tweetType":1,"viewCount":1263,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":199589291,"gmtCreate":1620717967913,"gmtModify":1634196869912,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"nicr","listText":"nicr","text":"nicr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/199589291","repostId":"1112952533","repostType":2,"repost":{"id":"1112952533","kind":"news","pubTimestamp":1620714778,"share":"https://www.laohu8.com/m/news/1112952533?lang=zh_CN&edition=full","pubTime":"2021-05-11 14:32","market":"us","language":"en","title":"What's Up With AMC Stock?<blockquote>AMC股票怎么了？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112952533","media":"benzinga","summary":"AMC Entertainment Holdings Inc shares moved past the $10 psychological mark in Monday’s after-hours ","content":"<p><div> AMC Entertainment Holdings Inc shares moved past the $10 psychological mark in Monday’s after-hours session, spiking over 5%.What Happened:There were no significant triggers for the movement in the ...</p><p><blockquote><div>AMC院线控股公司的股价在周一的盘后交易中突破了10美元的心理关口，飙升了5%以上。发生了什么：没有重大的触发因素...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21050895/whats-up-with-amc-stock\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21050895/whats-up-with-amc-stock\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's Up With AMC Stock?<blockquote>AMC股票怎么了？</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\">\nWhat's Up With AMC Stock?<blockquote>AMC股票怎么了？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-11 14:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> AMC Entertainment Holdings Inc shares moved past the $10 psychological mark in Monday’s after-hours session, spiking over 5%.What Happened:There were no significant triggers for the movement in the ...</p><p><blockquote><div>AMC院线控股公司的股价在周一的盘后交易中突破了10美元的心理关口，飙升了5%以上。发生了什么：没有重大的触发因素...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/21050895/whats-up-with-amc-stock\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/21050895/whats-up-with-amc-stock\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/05/21050895/whats-up-with-amc-stock\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.benzinga.com/news/21/05/21050895/whats-up-with-amc-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112952533","content_text":"AMC Entertainment Holdings Inc shares moved past the $10 psychological mark in Monday’s after-hours session, spiking over 5%.What Happened:There were no significant triggers for the movement in the shares. AMC continues to remain popular as a meme stock among retail investors.AMC was the fourth most mentioned stock on r/WallStreetBets over the past 24 hours to press time, attracting 250 mentions on the forum, according to data obtained from Quiver Quantitative.Tesla Inc and GameStop Corporation were ahead of AMC in terms of mentions, but Palantir Technologies Inc was the most mentioned on WallStreetBets.AMC shares spiked 5.13% in Monday’s after-hours session to $10.24 after closing 2.42% higher at $9.74 in the regular session.AMC is also the top-trending ticket on Stocktwits at press time.Why It Matters:Last week, AMC CEO Adam Aron said that the company is staring at an “increasingly favorable environment.”AMC attracted nearly 7 million U.S. and international moviegoers to its cinemas in the first quarter, as per the CEO. On a year-till-date basis, AMC shares have spiked 359.14%.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104211970,"gmtCreate":1620393057590,"gmtModify":1634205570398,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"palantir [Thinking]&nbsp;[Thinking]&nbsp;","listText":"palantir [Thinking]&nbsp;[Thinking]&nbsp;","text":"palantir [Thinking] [Thinking]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/104211970","repostId":"2133520488","repostType":4,"isVote":1,"tweetType":1,"viewCount":1599,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104213670,"gmtCreate":1620393011390,"gmtModify":1634205570739,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"ooh","listText":"ooh","text":"ooh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/104213670","repostId":"1157328258","repostType":4,"repost":{"id":"1157328258","kind":"news","pubTimestamp":1620360165,"share":"https://www.laohu8.com/m/news/1157328258?lang=zh_CN&edition=full","pubTime":"2021-05-07 12:02","market":"us","language":"en","title":"Amazon: The Most Clearly Undervalued Company<blockquote>亚马逊：最明显被低估的公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157328258","media":"Seeking alpha","summary":"SummaryAmazon is one of the companies whose growth has not yet reached its limit and not even entere","content":"<p>Summary</p><p><blockquote>总结</blockquote></p><p><ul><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.</li><li>In terms of comparative valuation, AMZN is undervalued against the market.</li><li>DCF-based Amazon stock price target suggests 30% upside potential. But I think this is not even a basic scenario, but a pessimistic scenario.</li></ul>I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.</p><p><blockquote><ul><li>亚马逊是增长尚未达到极限，甚至还没有进入平台期的公司之一。</li><li>就比较估值而言，AMZN相对于市场被低估。</li><li>基于DCF的亚马逊股价目标显示30%的上涨潜力。但我认为这甚至不是一个基本的情景，而是一个悲观的情景。</li></ul>我根据上个季度的业绩对亚马逊（AMZN）进行了全面的分析。</blockquote></p><p>#1 Price vs. Growth</p><p><blockquote>#1价格与增长</blockquote></p><p>First of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.</p><p><blockquote>首先，我们来评估一下我们是否可以从统计数据上说明亚马逊上个季度的增长是加速还是放缓。为此，让我们比较一下有和没有过去四个季度业绩的公司关键部门的收入增长趋势。</blockquote></p><p>The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:</p><p><blockquote>“在线商店”部分的动态显示出质的突破。在不考虑过去四个季度的情况下，这里观察到了接近线性的趋势。现在，它已经成为指数级增长：</blockquote></p><p><img src=\"https://static.tigerbbs.com/bac49a9df0e5b978dc15e20bedfce3da\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Third-Party Seller Services' segment - the exponential growth continues:</p><p><blockquote>“第三方卖家服务”细分市场——指数级增长仍在继续：</blockquote></p><p><img src=\"https://static.tigerbbs.com/6b58df42726bc01c8a5e5c2940d0476d\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:</p><p><blockquote>“订阅服务”（Amazon Prime）细分市场——这里的加速仍然存在，上个季度的结果好于趋势：</blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Other' (advertising services) segment has also showed a significant acceleration:<img src=\"https://static.tigerbbs.com/a58095394bdd79d561166a74942a9e55\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote>“其他”（广告服务）部门也显示出显着的加速：</blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:</p><p><blockquote>‘Amazon Web Services’的增长趋势有所放缓，但从上个季度的结果来看，有逐渐回归之前的趋势：</blockquote></p><p><img src=\"https://static.tigerbbs.com/07069ccaab37c32eed56da69881e7bce\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>Geographically, Amazon's revenue was also significantly better than the trend:</p><p><blockquote>从地域上看，亚马逊的营收也明显好于趋势：</blockquote></p><p><img src=\"https://static.tigerbbs.com/a1d9246e5c01aac6c62e49ad7cd73e2c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/0e7276161a3d2b2159ab3d727d3cb7d9\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>So, statistically, not subjectively, we should recognize the acceleration of the company's growth</i><i><b>in all key segments</b></i><i>. In my opinion, this is exactly what is expected from Amazon.</i></p><p><blockquote><i>因此，从统计上，而不是主观上，我们应该认识到公司增长的加速</i><i><b>在所有关键细分市场</b></i><i>.在我看来，这正是人们对亚马逊的期望。</i></blockquote></p><p>Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:</p><p><blockquote>更远地。在过去10年中，亚马逊的资本化与其收入呈定性线性关系：</blockquote></p><p><img src=\"https://static.tigerbbs.com/f105c314902d29dae4d0f0e400aa2245\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>There is also a certain influence of the company's revenue growth rate on its multiples:</p><p><blockquote>公司营收增速对其倍数也有一定影响：</blockquote></p><p><img src=\"https://static.tigerbbs.com/8beca01b5624a15aab79465c580ded6b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>Based on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:</p><p><blockquote>基于这两种关系，并考虑到美国货币存量增长的影响，有可能建立另一个模型，使我们能够确定公司资本化的平衡水平。此外，该模型允许根据分析师当前对公司未来四个季度收入增长的预期来模拟公司资本的增长。这是这个模型：</blockquote></p><p><img src=\"https://static.tigerbbs.com/083fa1dc350e5e54cc7d3145744c9e4c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d63f0cff5e0dd83343d26ee90552a033\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>As you can see, firstly, this model indicates that the company's current price is already</i><i><b>below the balanced level</b></i><i>. And secondly, it assumes a</i><i><b>25% growth</b></i><i>in capitalization in the next four quarters.</i></p><p><blockquote><i>正如你所看到的，首先，这个模型表明公司当前的价格已经</i><i><b>低于平衡水平</b></i><i>其次，它假设</i><i><b>25%增长</b></i><i>未来四个季度的资本化。</i></blockquote></p><p>#2 Comparative Valuation</p><p><blockquote>#2比较估值</blockquote></p><p>In the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:</p><p><blockquote>在上一个模块中，我根据收入对亚马逊的均衡价格进行了建模。值得注意的是，如果我们用同样的方法使用倍数对公司进行比较估值，我们就会失败。至少我还没有找到一个基于收入的倍数来成功地将亚马逊与其他公司进行比较。但根据预期每股收益年增长率调整后的远期市盈率（下一财年）倍数使得找到合适的模型成为可能：</blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/97ac0310bcef622e12c8c21d46979f7e\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8d7573ff8a7fc00719a51042f09fc989\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>As you can see, judging by this multiple, Amazon is significantly undervalued.</i></p><p><blockquote><i>正如你所看到的，从这个倍数来看，亚马逊被严重低估了。</i></blockquote></p><p>#3 Discounted Cash Flow Model</p><p><blockquote>#3贴现现金流模型</blockquote></p><p>When predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:</p><p><blockquote>在预测亚马逊未来十年的收入时，我从分析师的平均预期出发：</blockquote></p><p><img src=\"https://static.tigerbbs.com/9f41298db73dbcd92469026cc4e767c4\" tg-width=\"640\" tg-height=\"323\" referrerpolicy=\"no-referrer\"><i>Source: Seeking Alpha Pro</i></p><p><blockquote><i>资料来源：寻求Alpha Pro</i></blockquote></p><p>When predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.</p><p><blockquote>在预测亚马逊营业利润率的动态时，我也从分析师对公司每股收益增长的预期出发，并考虑到税率逐渐提高到25%。在我看来，在终端年将营业利润率逐步提高到8%是一个非常现实的情况。</blockquote></p><p>Here is the calculation of the Weighted Average Cost of Capital:</p><p><blockquote>以下是加权平均资本成本的计算方法：</blockquote></p><p><img src=\"https://static.tigerbbs.com/759163398701e54efd7cfabd11a0867d\" tg-width=\"480\" tg-height=\"374\" referrerpolicy=\"no-referrer\"><i>Source: Author</i></p><p><blockquote><i>来源：作者</i></blockquote></p><p>Some explanations:</p><p><blockquote>一些解释：</blockquote></p><p><ul><li>In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).</li><li>I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.</li><li>To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.</li></ul>Here is the model itself:</p><p><blockquote><ul><li>为了计算市场回报率，我使用了equityriskpremium（4.72%）和UST10的当前收益率作为无风险利率（1.6%）。</li><li>我使用了三年贝塔系数的当前值（0.92）。在最后一年，我使用Beta等于1。</li><li>为了计算债务成本，我使用2019年和2020年的利息支出除以同年的债务价值。</li></ul>以下是模型本身：</blockquote></p><p><img src=\"https://static.tigerbbs.com/0df02bca01b3ef74d3b640d95eb00590\" tg-width=\"640\" tg-height=\"528\" referrerpolicy=\"no-referrer\">(In high resolution)</p><p><blockquote>（高分辨率）</blockquote></p><p><i>Source: Author</i></p><p><blockquote><i>来源：作者</i></blockquote></p><p><i>The DCF-based target price of Amazon's shares is $4,280, offering 29% upside.</i></p><p><blockquote><i>亚马逊股票基于DCF的目标价为4,280美元，上涨空间为29%。</i></blockquote></p><p>Final thoughts</p><p><blockquote>最后的想法</blockquote></p><p><ol><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.</li><li>The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company is<b>undervalued</b>.</li><li>Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company is<b>much cheaper</b>than the market.</li><li>DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.</li><li>When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,<i>it is better to invest in a company facing growth problems than aging problems</i>.</li></ol></p><p><blockquote><ol><li>亚马逊是增长尚未达到极限，甚至还没有进入平台期的公司之一。从某种意义上说，这是一家拥有730亿美元现金的初创公司。</li><li>亚马逊仍处于加速阶段的事实并不意味着其市值不断被低估。但在这种情况下，根据公司的资本化和收入参数之间的模式，我们可以得出结论，公司是<b>被低估</b>.</li><li>通过预期每股收益增长的棱镜将亚马逊与其他公司进行比较，必须承认该公司是<b>便宜多了</b>比市场。</li><li>基于平均预期的DCF模型分析师表示低估了30%。今年年初，类似的模型显示估值被低估了20%。</li><li>当你看亚马逊未来十年的收入预测时，你会意识到该公司将面临增长问题。但在我看来，<i>投资一家面临增长问题的公司比投资老龄化问题的公司更好</i>.</li></ol></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon: The Most Clearly Undervalued Company<blockquote>亚马逊：最明显被低估的公司</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon: The Most Clearly Undervalued Company<blockquote>亚马逊：最明显被低估的公司</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\">2021-05-07 12:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summary</p><p><blockquote>总结</blockquote></p><p><ul><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.</li><li>In terms of comparative valuation, AMZN is undervalued against the market.</li><li>DCF-based Amazon stock price target suggests 30% upside potential. But I think this is not even a basic scenario, but a pessimistic scenario.</li></ul>I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.</p><p><blockquote><ul><li>亚马逊是增长尚未达到极限，甚至还没有进入平台期的公司之一。</li><li>就比较估值而言，AMZN相对于市场被低估。</li><li>基于DCF的亚马逊股价目标显示30%的上涨潜力。但我认为这甚至不是一个基本的情景，而是一个悲观的情景。</li></ul>我根据上个季度的业绩对亚马逊（AMZN）进行了全面的分析。</blockquote></p><p>#1 Price vs. Growth</p><p><blockquote>#1价格与增长</blockquote></p><p>First of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.</p><p><blockquote>首先，我们来评估一下我们是否可以从统计数据上说明亚马逊上个季度的增长是加速还是放缓。为此，让我们比较一下有和没有过去四个季度业绩的公司关键部门的收入增长趋势。</blockquote></p><p>The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:</p><p><blockquote>“在线商店”部分的动态显示出质的突破。在不考虑过去四个季度的情况下，这里观察到了接近线性的趋势。现在，它已经成为指数级增长：</blockquote></p><p><img src=\"https://static.tigerbbs.com/bac49a9df0e5b978dc15e20bedfce3da\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Third-Party Seller Services' segment - the exponential growth continues:</p><p><blockquote>“第三方卖家服务”细分市场——指数级增长仍在继续：</blockquote></p><p><img src=\"https://static.tigerbbs.com/6b58df42726bc01c8a5e5c2940d0476d\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:</p><p><blockquote>“订阅服务”（Amazon Prime）细分市场——这里的加速仍然存在，上个季度的结果好于趋势：</blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Other' (advertising services) segment has also showed a significant acceleration:<img src=\"https://static.tigerbbs.com/a58095394bdd79d561166a74942a9e55\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote>“其他”（广告服务）部门也显示出显着的加速：</blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:</p><p><blockquote>‘Amazon Web Services’的增长趋势有所放缓，但从上个季度的结果来看，有逐渐回归之前的趋势：</blockquote></p><p><img src=\"https://static.tigerbbs.com/07069ccaab37c32eed56da69881e7bce\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>Geographically, Amazon's revenue was also significantly better than the trend:</p><p><blockquote>从地域上看，亚马逊的营收也明显好于趋势：</blockquote></p><p><img src=\"https://static.tigerbbs.com/a1d9246e5c01aac6c62e49ad7cd73e2c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/0e7276161a3d2b2159ab3d727d3cb7d9\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>So, statistically, not subjectively, we should recognize the acceleration of the company's growth</i><i><b>in all key segments</b></i><i>. In my opinion, this is exactly what is expected from Amazon.</i></p><p><blockquote><i>因此，从统计上，而不是主观上，我们应该认识到公司增长的加速</i><i><b>在所有关键细分市场</b></i><i>.在我看来，这正是人们对亚马逊的期望。</i></blockquote></p><p>Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:</p><p><blockquote>更远地。在过去10年中，亚马逊的资本化与其收入呈定性线性关系：</blockquote></p><p><img src=\"https://static.tigerbbs.com/f105c314902d29dae4d0f0e400aa2245\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>There is also a certain influence of the company's revenue growth rate on its multiples:</p><p><blockquote>公司营收增速对其倍数也有一定影响：</blockquote></p><p><img src=\"https://static.tigerbbs.com/8beca01b5624a15aab79465c580ded6b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>Based on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:</p><p><blockquote>基于这两种关系，并考虑到美国货币存量增长的影响，有可能建立另一个模型，使我们能够确定公司资本化的平衡水平。此外，该模型允许根据分析师当前对公司未来四个季度收入增长的预期来模拟公司资本的增长。这是这个模型：</blockquote></p><p><img src=\"https://static.tigerbbs.com/083fa1dc350e5e54cc7d3145744c9e4c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d63f0cff5e0dd83343d26ee90552a033\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>As you can see, firstly, this model indicates that the company's current price is already</i><i><b>below the balanced level</b></i><i>. And secondly, it assumes a</i><i><b>25% growth</b></i><i>in capitalization in the next four quarters.</i></p><p><blockquote><i>正如你所看到的，首先，这个模型表明公司当前的价格已经</i><i><b>低于平衡水平</b></i><i>其次，它假设</i><i><b>25%增长</b></i><i>未来四个季度的资本化。</i></blockquote></p><p>#2 Comparative Valuation</p><p><blockquote>#2比较估值</blockquote></p><p>In the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:</p><p><blockquote>在上一个模块中，我根据收入对亚马逊的均衡价格进行了建模。值得注意的是，如果我们用同样的方法使用倍数对公司进行比较估值，我们就会失败。至少我还没有找到一个基于收入的倍数来成功地将亚马逊与其他公司进行比较。但根据预期每股收益年增长率调整后的远期市盈率（下一财年）倍数使得找到合适的模型成为可能：</blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/97ac0310bcef622e12c8c21d46979f7e\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8d7573ff8a7fc00719a51042f09fc989\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>As you can see, judging by this multiple, Amazon is significantly undervalued.</i></p><p><blockquote><i>正如你所看到的，从这个倍数来看，亚马逊被严重低估了。</i></blockquote></p><p>#3 Discounted Cash Flow Model</p><p><blockquote>#3贴现现金流模型</blockquote></p><p>When predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:</p><p><blockquote>在预测亚马逊未来十年的收入时，我从分析师的平均预期出发：</blockquote></p><p><img src=\"https://static.tigerbbs.com/9f41298db73dbcd92469026cc4e767c4\" tg-width=\"640\" tg-height=\"323\" referrerpolicy=\"no-referrer\"><i>Source: Seeking Alpha Pro</i></p><p><blockquote><i>资料来源：寻求Alpha Pro</i></blockquote></p><p>When predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.</p><p><blockquote>在预测亚马逊营业利润率的动态时，我也从分析师对公司每股收益增长的预期出发，并考虑到税率逐渐提高到25%。在我看来，在终端年将营业利润率逐步提高到8%是一个非常现实的情况。</blockquote></p><p>Here is the calculation of the Weighted Average Cost of Capital:</p><p><blockquote>以下是加权平均资本成本的计算方法：</blockquote></p><p><img src=\"https://static.tigerbbs.com/759163398701e54efd7cfabd11a0867d\" tg-width=\"480\" tg-height=\"374\" referrerpolicy=\"no-referrer\"><i>Source: Author</i></p><p><blockquote><i>来源：作者</i></blockquote></p><p>Some explanations:</p><p><blockquote>一些解释：</blockquote></p><p><ul><li>In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).</li><li>I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.</li><li>To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.</li></ul>Here is the model itself:</p><p><blockquote><ul><li>为了计算市场回报率，我使用了equityriskpremium（4.72%）和UST10的当前收益率作为无风险利率（1.6%）。</li><li>我使用了三年贝塔系数的当前值（0.92）。在最后一年，我使用Beta等于1。</li><li>为了计算债务成本，我使用2019年和2020年的利息支出除以同年的债务价值。</li></ul>以下是模型本身：</blockquote></p><p><img src=\"https://static.tigerbbs.com/0df02bca01b3ef74d3b640d95eb00590\" tg-width=\"640\" tg-height=\"528\" referrerpolicy=\"no-referrer\">(In high resolution)</p><p><blockquote>（高分辨率）</blockquote></p><p><i>Source: Author</i></p><p><blockquote><i>来源：作者</i></blockquote></p><p><i>The DCF-based target price of Amazon's shares is $4,280, offering 29% upside.</i></p><p><blockquote><i>亚马逊股票基于DCF的目标价为4,280美元，上涨空间为29%。</i></blockquote></p><p>Final thoughts</p><p><blockquote>最后的想法</blockquote></p><p><ol><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.</li><li>The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company is<b>undervalued</b>.</li><li>Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company is<b>much cheaper</b>than the market.</li><li>DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.</li><li>When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,<i>it is better to invest in a company facing growth problems than aging problems</i>.</li></ol></p><p><blockquote><ol><li>亚马逊是增长尚未达到极限，甚至还没有进入平台期的公司之一。从某种意义上说，这是一家拥有730亿美元现金的初创公司。</li><li>亚马逊仍处于加速阶段的事实并不意味着其市值不断被低估。但在这种情况下，根据公司的资本化和收入参数之间的模式，我们可以得出结论，公司是<b>被低估</b>.</li><li>通过预期每股收益增长的棱镜将亚马逊与其他公司进行比较，必须承认该公司是<b>便宜多了</b>比市场。</li><li>基于平均预期的DCF模型分析师表示低估了30%。今年年初，类似的模型显示估值被低估了20%。</li><li>当你看亚马逊未来十年的收入预测时，你会意识到该公司将面临增长问题。但在我看来，<i>投资一家面临增长问题的公司比投资老龄化问题的公司更好</i>.</li></ol></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company\">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":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157328258","content_text":"SummaryAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.In terms of comparative valuation, AMZN is undervalued against the market.DCF-based Amazon stock price target suggests 30% upside potential. But I think this is not even a basic scenario, but a pessimistic scenario.I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.#1 Price vs. GrowthFirst of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:Source: VisualizedAnalytics.comThe 'Third-Party Seller Services' segment - the exponential growth continues:Source: VisualizedAnalytics.comThe 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:Source: VisualizedAnalytics.comThe 'Other' (advertising services) segment has also showed a significant acceleration:Source: VisualizedAnalytics.comThe growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:Source: VisualizedAnalytics.comGeographically, Amazon's revenue was also significantly better than the trend:Source: VisualizedAnalytics.comSo, statistically, not subjectively, we should recognize the acceleration of the company's growthin all key segments. In my opinion, this is exactly what is expected from Amazon.Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:Source: VisualizedAnalytics.comThere is also a certain influence of the company's revenue growth rate on its multiples:Source: VisualizedAnalytics.comBased on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:Source: VisualizedAnalytics.comAs you can see, firstly, this model indicates that the company's current price is alreadybelow the balanced level. And secondly, it assumes a25% growthin capitalization in the next four quarters.#2 Comparative ValuationIn the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:Source: VisualizedAnalytics.comAs you can see, judging by this multiple, Amazon is significantly undervalued.#3 Discounted Cash Flow ModelWhen predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:Source: Seeking Alpha ProWhen predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.Here is the calculation of the Weighted Average Cost of Capital:Source: AuthorSome explanations:In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.Here is the model itself:(In high resolution)Source: AuthorThe DCF-based target price of Amazon's shares is $4,280, offering 29% upside.Final thoughtsAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company isundervalued.Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company ismuch cheaperthan the market.DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,it is better to invest in a company facing growth problems than aging problems.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":1560,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108034103,"gmtCreate":1619958754402,"gmtModify":1634208877194,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>go up!!!","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>go up!!!","text":"$NIO Inc.(NIO)$go up!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108034103","isVote":1,"tweetType":1,"viewCount":1261,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109299075,"gmtCreate":1619697425097,"gmtModify":1634210654744,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"Please help me like","listText":"Please help me like","text":"Please help me like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/109299075","repostId":"1183966356","repostType":4,"repost":{"id":"1183966356","kind":"news","pubTimestamp":1619665696,"share":"https://www.laohu8.com/m/news/1183966356?lang=zh_CN&edition=full","pubTime":"2021-04-29 11:08","market":"us","language":"en","title":"NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183966356","media":"InvestoPedia","summary":"Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.Revenue is expected to soar on expanding vehicle sales.NIO Inc. , like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles . NIO's production stoppage in late March had little impact on the company's record ve","content":"<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每ADS亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度车辆交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>","source":"lsy1606203311635","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>NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</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\">\nNIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestoPedia</strong><span class=\"h-time small\">2021-04-29 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每ADS亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度车辆交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991\">InvestoPedia</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":{"NIO":"蔚来"},"source_url":"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183966356","content_text":"Focus on NIO vehicle deliveries\nKEY TAKEAWAYS\n\nAnalysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.\nVehicle deliveries, already announced, rose dramatically YOY.\nRevenue is expected to soar on expanding vehicle sales.\n\nNIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.\nInvestors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.\nVehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.\nShares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&P 500's total return of 45.5%.\nSource: TradingView.\nNIO Earnings History\nThe stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's Q4 FY 2020 earnings report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its gross margin rose to 17.2% compared to negative 8.9% in the year-ago quarter.\nIn Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.\nAnalysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.\nSource: Visible Alpha; NIO Inc.\nThe Key Metric\nAs mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.\nNIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100341580,"gmtCreate":1619584237240,"gmtModify":1634211550521,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"yes!!","listText":"yes!!","text":"yes!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/100341580","repostId":"1157971960","repostType":4,"isVote":1,"tweetType":1,"viewCount":374,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377498888,"gmtCreate":1619542754344,"gmtModify":1634211916040,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"hmmm","listText":"hmmm","text":"hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/377498888","repostId":"1175975173","repostType":4,"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377498916,"gmtCreate":1619542709935,"gmtModify":1634211916388,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":":0","listText":":0","text":":0","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/377498916","repostId":"1155157199","repostType":4,"repost":{"id":"1155157199","kind":"news","pubTimestamp":1619494851,"share":"https://www.laohu8.com/m/news/1155157199?lang=zh_CN&edition=full","pubTime":"2021-04-27 11:40","market":"us","language":"en","title":"Microsoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155157199","media":"Barrons","summary":"Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.  On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.J.P. Mo","content":"<p>Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.</p><p><blockquote>华尔街预计微软将在周二收盘后公布三月份季度数据时公布强劲的财务业绩。</blockquote></p><p>The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.&nbsp; On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.</p><p><blockquote>分析师普遍预测营收为410亿美元，同比增长17%，每股利润为1.78美元。周一，微软股价创下262.44美元的盘中纪录，距离首次触及2万亿美元估值仅小幅上涨。要实现这一目标，该股需要上涨至264.55美元。</blockquote></p><p>The shares have gained 18% year to date.</p><p><blockquote>今年迄今为止，该股已上涨18%。</blockquote></p><p>Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system.&nbsp;</p><p><blockquote>分析师预计该公司的Azure和Office 365云业务将迎来另一个强劲的季度，并将寻找其企业运营加速增长的迹象。鉴于近期PC购买量大幅增长，Surface硬件（笔记本电脑和白板）的销售可能在本季度强劲，尽管组件短缺可能导致需求未得到满足。个人电脑市场的强劲也预示着Windows操作系统的销售。</blockquote></p><p>Microsoft breaks down its results into&nbsp;three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.</p><p><blockquote>微软将其业绩分为三个部分：生产力和业务流程，其中包括Office 365、Dynamics和LinkedIn；智能云，包括Azure和企业服务器软件；以及更多的个人计算，包括Windows、Xbox、Surface硬件和Bing。</blockquote></p><p>When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.</p><p><blockquote>当微软在1月底公布第二财季业绩时，首席财务官Amy Hood提供了每个部门的收入指引。对于生产力和业务流程，她预计收入为133.5亿至136亿美元。智能云的看涨期权是收入为147亿至149.5亿美元，而她预测更多个人计算的收入为123亿至127亿美元。如果每个部门的收入都处于预测范围的顶部，那么总收入将达到412.5亿美元。</blockquote></p><p>In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.</p><p><blockquote>在研究报告中，几位分析师引用了客户和经销商的积极评论来预测强劲的业绩。</blockquote></p><p>Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.</p><p><blockquote>上周，KeyBanc Capital的Michael Turits重申了对该股的跑赢大盘评级，同时将目标价从280美元上调至295美元。他表示，该公司可能会受益于强劲的IT需求和个人电脑出货量的持续强劲。</blockquote></p><p>“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”</p><p><blockquote>他写道：“我们继续看到微软扩大Azure范围、广泛的企业应用程序创新和积极的捆绑销售相结合，在市场上取得了成功。”“我们采访的几乎所有北美微软分销商/经销商都报告微软渠道收入达到或高于计划。”</blockquote></p><p>J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.</p><p><blockquote>摩根大通分析师Mark Murphy对微软产品经销商进行了新的调查，对前景感到鼓舞。他表示，在企业需求改善的推动下，这些公司的微软商品季度销售额平均比预期高出3.3%。他报告了公司企业产品线的实力，包括Azure、Teams、Office 365和安全产品等领域的增长。Murphy对微软的评级为跑赢大盘，目标股价为245美元。</blockquote></p><p>Wedbush analyst Dan Ives&nbsp;forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.</p><p><blockquote>Wedbush分析师丹·艾夫斯(Dan Ives)预测，在Azure至少增长45%的推动下，这将是“又一个杰作季度”，他认为Azure正在从亚马逊网络服务(Amazon Web Services)手中夺取市场份额。他表示，当前的在家工作环境正在鼓励更多企业采取战略举措，转向基于云的运营，“微软全面展开，Azure增长依然强劲”。他维持跑赢大盘评级，目标股价为300美元。</blockquote></p><p>Citi analyst Tyler Radke&nbsp;last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”&nbsp;</p><p><blockquote>花旗分析师泰勒·拉德克(Tyler Radke)上周重申了对微软股票的买入评级，将目标价从292美元上调至302美元，并在业绩公布前对该股设定了“积极催化剂观察”。他写道，对经销商的调查和渠道检查的结合使他更有信心，微软可以推动所有三个主要业务部门的收入，消费者和企业对个人电脑的需求强劲，服务器软件的强劲升级活动，以及由于“企业消费持续强劲增长”，Azure持续走强。</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>Microsoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</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\">\nMicrosoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-27 11:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.</p><p><blockquote>华尔街预计微软将在周二收盘后公布三月份季度数据时公布强劲的财务业绩。</blockquote></p><p>The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.&nbsp; On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.</p><p><blockquote>分析师普遍预测营收为410亿美元，同比增长17%，每股利润为1.78美元。周一，微软股价创下262.44美元的盘中纪录，距离首次触及2万亿美元估值仅小幅上涨。要实现这一目标，该股需要上涨至264.55美元。</blockquote></p><p>The shares have gained 18% year to date.</p><p><blockquote>今年迄今为止，该股已上涨18%。</blockquote></p><p>Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system.&nbsp;</p><p><blockquote>分析师预计该公司的Azure和Office 365云业务将迎来另一个强劲的季度，并将寻找其企业运营加速增长的迹象。鉴于近期PC购买量大幅增长，Surface硬件（笔记本电脑和白板）的销售可能在本季度强劲，尽管组件短缺可能导致需求未得到满足。个人电脑市场的强劲也预示着Windows操作系统的销售。</blockquote></p><p>Microsoft breaks down its results into&nbsp;three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.</p><p><blockquote>微软将其业绩分为三个部分：生产力和业务流程，其中包括Office 365、Dynamics和LinkedIn；智能云，包括Azure和企业服务器软件；以及更多的个人计算，包括Windows、Xbox、Surface硬件和Bing。</blockquote></p><p>When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.</p><p><blockquote>当微软在1月底公布第二财季业绩时，首席财务官Amy Hood提供了每个部门的收入指引。对于生产力和业务流程，她预计收入为133.5亿至136亿美元。智能云的看涨期权是收入为147亿至149.5亿美元，而她预测更多个人计算的收入为123亿至127亿美元。如果每个部门的收入都处于预测范围的顶部，那么总收入将达到412.5亿美元。</blockquote></p><p>In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.</p><p><blockquote>在研究报告中，几位分析师引用了客户和经销商的积极评论来预测强劲的业绩。</blockquote></p><p>Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.</p><p><blockquote>上周，KeyBanc Capital的Michael Turits重申了对该股的跑赢大盘评级，同时将目标价从280美元上调至295美元。他表示，该公司可能会受益于强劲的IT需求和个人电脑出货量的持续强劲。</blockquote></p><p>“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”</p><p><blockquote>他写道：“我们继续看到微软扩大Azure范围、广泛的企业应用程序创新和积极的捆绑销售相结合，在市场上取得了成功。”“我们采访的几乎所有北美微软分销商/经销商都报告微软渠道收入达到或高于计划。”</blockquote></p><p>J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.</p><p><blockquote>摩根大通分析师Mark Murphy对微软产品经销商进行了新的调查，对前景感到鼓舞。他表示，在企业需求改善的推动下，这些公司的微软商品季度销售额平均比预期高出3.3%。他报告了公司企业产品线的实力，包括Azure、Teams、Office 365和安全产品等领域的增长。Murphy对微软的评级为跑赢大盘，目标股价为245美元。</blockquote></p><p>Wedbush analyst Dan Ives&nbsp;forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.</p><p><blockquote>Wedbush分析师丹·艾夫斯(Dan Ives)预测，在Azure至少增长45%的推动下，这将是“又一个杰作季度”，他认为Azure正在从亚马逊网络服务(Amazon Web Services)手中夺取市场份额。他表示，当前的在家工作环境正在鼓励更多企业采取战略举措，转向基于云的运营，“微软全面展开，Azure增长依然强劲”。他维持跑赢大盘评级，目标股价为300美元。</blockquote></p><p>Citi analyst Tyler Radke&nbsp;last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”&nbsp;</p><p><blockquote>花旗分析师泰勒·拉德克(Tyler Radke)上周重申了对微软股票的买入评级，将目标价从292美元上调至302美元，并在业绩公布前对该股设定了“积极催化剂观察”。他写道，对经销商的调查和渠道检查的结合使他更有信心，微软可以推动所有三个主要业务部门的收入，消费者和企业对个人电脑的需求强劲，服务器软件的强劲升级活动，以及由于“企业消费持续强劲增长”，Azure持续走强。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/microsoft-nears-2-trillion-market-cap-earnings-are-tuesday-51619457928?mod=hp_DAY_Theme_2_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":{"MSFT":"微软"},"source_url":"https://www.barrons.com/articles/microsoft-nears-2-trillion-market-cap-earnings-are-tuesday-51619457928?mod=hp_DAY_Theme_2_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155157199","content_text":"Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.  On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.The shares have gained 18% year to date.Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system. Microsoft breaks down its results into three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.Wedbush analyst Dan Ives forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.Citi analyst Tyler Radke last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":742,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374310980,"gmtCreate":1619417620640,"gmtModify":1634273638578,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"🤔🤔","listText":"🤔🤔","text":"🤔🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/374310980","repostId":"1184404050","repostType":4,"isVote":1,"tweetType":1,"viewCount":575,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374310021,"gmtCreate":1619417603963,"gmtModify":1634273638696,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"power","listText":"power","text":"power","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/374310021","repostId":"1184404050","repostType":4,"isVote":1,"tweetType":1,"viewCount":544,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372989547,"gmtCreate":1619168109289,"gmtModify":1634288041743,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"&nbsp;😯😯😯","listText":"&nbsp;😯😯😯","text":"😯😯😯","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/372989547","repostId":"1143062408","repostType":4,"isVote":1,"tweetType":1,"viewCount":606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376026398,"gmtCreate":1619072210614,"gmtModify":1634288754219,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/376026398","repostId":"1143508710","repostType":4,"isVote":1,"tweetType":1,"viewCount":544,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371908500,"gmtCreate":1618897889500,"gmtModify":1634290046345,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"😢","listText":"😢","text":"😢","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/371908500","repostId":"1132732309","repostType":4,"isVote":1,"tweetType":1,"viewCount":547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371901670,"gmtCreate":1618897833390,"gmtModify":1634290047436,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/371901670","repostId":"2128689062","repostType":4,"isVote":1,"tweetType":1,"viewCount":604,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347840642,"gmtCreate":1618488707386,"gmtModify":1634292612518,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577226353596605","idStr":"3577226353596605"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/347840642","repostId":"1128319234","repostType":4,"repost":{"id":"1128319234","kind":"news","pubTimestamp":1618486201,"share":"https://www.laohu8.com/m/news/1128319234?lang=zh_CN&edition=full","pubTime":"2021-04-15 19:30","market":"us","language":"en","title":"Wall Street Breakfast: Retail Rebound<blockquote>华尔街早餐：零售业反弹</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128319234","media":"seekingalpha","summary":"Retail reboundThe market will get some insight into how much the consumer is participating in the ec","content":"<p><b>Retail rebound</b></p><p><blockquote><b>零售反弹</b></blockquote></p><p>The market will get some insight into how much the consumer is participating in the economic recovery with the latest retail sales numbers today. S&amp;P futures(SPX), Nasdaq futures(NDX:IND)and Dow futures(INDU)are all in the green.</p><p><blockquote>通过今天最新的零售销售数据，市场将深入了解消费者对经济复苏的参与程度。标准普尔期货（SPX）、纳斯达克期货（NDX：IND）和道指期货（INDU）均呈绿色。</blockquote></p><p>The Commerce Department will release March retail sales at 8:30 AM ET. Economists, on average, are looking for a strong rebound, with sales rising 5.9%, compared with a 3% drop in February. Core retail sales, which exclude autos, are forecast to rise 5%, reversing a 2.7% decline the month before. Retail sales have posted gains in just four months since the lockdown measures took hold last year, the most recent being a 5.3% gain for January.</p><p><blockquote>商务部将于美国东部时间上午8:30发布3月份零售销售数据。平均而言，经济学家预计销售额将强劲反弹，销售额将增长5.9%，而2月份则下降了3%。不包括汽车在内的核心零售额预计将增长5%，扭转上个月2.7%的降幅。自去年实施封锁措施以来，零售额在短短四个月内就实现了增长，最近一次是1月份增长了5.3%。</blockquote></p><p>If sales rise as anticipated, that would be a good indication that the latest round of $1,400 direct checks are making their way into the economy, providing the stimulus intended by the White House. A miss may indicate that the money is being channeled to other avenues, such as savings or asset purchases. The New York Fed said last week that 42 cents of every stimulus dollar were being saved, while 25% of funds are being spent and the rest is being used to pay down debt.</p><p><blockquote>如果销售额按预期增长，这将是一个很好的迹象，表明最新一轮1400美元的直接支票正在进入经济，提供白宫打算的刺激措施。错过可能表明资金被转移到其他途径，例如储蓄或资产购买。纽约联储上周表示，每一美元的刺激资金中有42美分被节省下来，而25%的资金被支出，其余的用于偿还债务。</blockquote></p><p>Reflation trade: For the stock market, a strong retail sales number could kick-start the reflation trade that favors cyclicals, which has lost steam of late. Despite a number of market-moving events, the S&amp;P(NYSEARCA:SPY)has struggled to gain traction in either direction and is down 0.1% for the week.</p><p><blockquote>通货再膨胀交易：对于股市来说，强劲的零售销售数据可能会启动有利于周期性股票的通货再膨胀交易，而周期性股票最近已经失去了动力。尽管发生了一系列影响市场的事件，但标准普尔指数（NYSEARCA：SPDR标普500指数ETF）仍难以在两个方向上获得牵引力，本周下跌0.1%。</blockquote></p><p>“The reflation trade has been taking a spring break,” says UBS Global Wealth Management CIO Mark Haefele. “We believe investors should continue to position for reflation” as vaccinations roll out and economies recover, he adds, according to Bloomberg. Financials(NYSEARCA:XLF), Industrials(NYSEARCA:XLI)and Energy(NYSEARCA:XLE)are likely to outperform.</p><p><blockquote>瑞银全球财富管理首席信息官马克·海菲尔表示：“通货再膨胀交易一直在放春假。”据彭博社报道，他补充道，随着疫苗接种的推出和经济的复苏，“我们认为投资者应该继续为通货再膨胀做好准备”。金融股（NYSEARCA：XLF）、工业股（NYSEARCA：XLI）和能源股（NYSEARCA：XLE）可能会跑赢大盘。</blockquote></p><p>Barclays strategist Emmanuel Cau says value is attractive as a hedge to overheating, but he's less positive on leisure, food retail and autos.</p><p><blockquote>巴克莱策略师Emmanuel Cau表示，价值作为对冲过热的手段具有吸引力，但他对休闲、食品零售和汽车不太乐观。</blockquote></p><p>Economy accelerating, but still moderate: The Fed's Beige Book, out yesterday, said the U.S. economy is accelerating to a moderate pace, while some of the sectors hit hardest by the pandemic are showing signs of recovery.</p><p><blockquote>经济加速，但仍然温和：美联储昨天发布的褐皮书称，美国经济正在以温和的速度加速，而一些受疫情打击最严重的行业正显示出复苏的迹象。</blockquote></p><p>\"Reports on tourism were more upbeat, bolstered by a pickup in demand for leisure activities and travel which contacts attributed to spring break, an easing of pandemic-related restrictions, increased vaccinations, and recent stimulus payments among other factors,\" the report said.</p><p><blockquote>报告称：“旅游业报告更加乐观，这得益于春假、疫情相关限制放松、疫苗接种增加以及最近的刺激付款等因素对休闲活动和旅行需求的回升。”</blockquote></p><p>Economic growth and consumer spending \"accelerated over the last 6 weeks and pent-up demand for leisure activity and travel are starting to materialize,\" DataTrek Research writes. \"Inflation has picked up and companies face both labor shortages and supply chain disruptions. In the end, we continue to agree with the Fed that near-term inflation is transitory rather than structural, so we don’t think Chair Powell will view these inflationary pressures as a major red flag.\"</p><p><blockquote>DataTrek Research写道，经济增长和消费者支出“在过去6周内加速，被压抑的休闲活动和旅行需求开始实现”。“通胀加剧，企业同时面临劳动力短缺和供应链中断。最终，我们继续同意美联储的观点，即近期通胀是暂时性的，而不是结构性的，因此我们认为鲍威尔主席不会将这些通胀压力视为一个重大危险信号。”</blockquote></p><p>\"Moreover, the latest Fed Beige Book reports continue to show employers’ challenge of pulling workers back into the labor force,\" DataTrek adds. \"That will take time as vaccines roll out and childcare becomes more accessible, factors that are out of Chair Powell’s control. That’s why he and the Fed continue to signal holding rates near zero through at least 2022 to let the economy run hot enough to achieve their dual mandate.\"</p><p><blockquote>DataTrek补充道：“此外，最新的美联储褐皮书报告继续显示雇主在让工人重返劳动力市场方面面临的挑战。”“随着疫苗的推出和儿童保育变得更加容易，这需要时间，这些因素超出了鲍威尔主席的控制范围。这就是为什么他和美联储继续暗示至少在2022年之前将利率维持在接近零的水平，以让经济足够热以实现他们的双重使命。”</blockquote></p><p><b>ARK Invest snaps up Coinbase</b></p><p><blockquote><b>ARK Invest抢购Coinbase</b></blockquote></p><p>ARK Investment Management bought shares of newly-public Coinbase Global(NASDAQ:COIN)for three different funds, while selling some of its Tesla(NASDAQ:TSLA)holdings.</p><p><blockquote>ARK Investment Management为三只不同的基金购买了新上市的Coinbase Global（纳斯达克：COIN）的股票，同时出售了其持有的部分特斯拉（纳斯达克：TSLA）股份。</blockquote></p><p>Cathie Wood bought 89,589 shares of Coinbase for the ARK Fintech Innovation ETF(NYSEARCA:ARKF). She bought 512,535 shares of the crypto trading platform for the flagship ARK Innovation ETF(NYSEARCA:ARKK). And she added 147,081 COIN shares to the ARK Next Generation Internet ETF(NYSEARCA:ARKW). That was about $246M worth of Coinbase shares.</p><p><blockquote>Cathie Wood为ARK Fintech Innovation ETF（NYSEARCA：ARKF）购买了89,589股Coinbase股票。她为旗舰ARK Innovation ETF（NYSEARCA：ARKK）购买了512,535股加密货币交易平台股票。她还向ARK下一代互联网ETF（NYSEARCA：ARKW）添加了147,081股COIN股票。这相当于价值约2.46亿美元的Coinbase股票。</blockquote></p><p>\"There are going to be great opportunities from now and five years to buy (Coinbase) on dips,\" Wood told Bloomberg. ARK thinks institutional interest could add $500K to the price of Bitcoin (BTC-USD). ARK sold 185,712 shares of Tesla from ARKK and 57,043 shares of the automaker from ARKW. Tesla is the top holding in ARKW and ARKK. Coinbase rose 30% in its debut yesterday, but closed down from where it opened the day.</p><p><blockquote>伍德告诉彭博社：“从现在到五年后，逢低买入（Coinbase）将会有很好的机会。”ARK认为机构兴趣可能会使比特币（BTC-USD）的价格增加50万美元。ARK从ARKK出售了185,712股特斯拉股票，从ARKW出售了57,043股该汽车制造商股票。特斯拉是ARKW和ARKK的最大持股。Coinbase昨天首次亮相就上涨了30%，但收盘时较当天开盘下跌。</blockquote></p><p><b>SpaceX valued at $74B</b></p><p><blockquote><b>SpaceX估值$74B</b></blockquote></p><p>SpaceX (SPACE) increased the size of its last equity raise, according to an SEC filing. The company brought in another $314M to add to the $850M previously reported. The new total equity raise of $1.16B values SpaceX at around $74B.</p><p><blockquote>根据美国证券交易委员会(SEC)提交的文件，SpaceX(SPACE)增加了上次股权融资的规模。该公司在之前报告的8.5亿美元的基础上又带来了3.14亿美元。新的1.16 B美元的股权融资总额使SpaceX的估值约为740亿美元。</blockquote></p><p></p><p>Investors in SpaceX are likely to be looking for a payoff from the Starlink (STRLK) Internet satellite business. There is speculation that Starlink will be set free in an IPO at some point. Looking at SpaceX's launch plans, a trip to the moon is planned for as early as 2022 with the Falcon 9 rocket slated to deliver an exploration rover on behalf of the United Arab Emirates.</p><p><blockquote>SpaceX的投资者可能会从Starlink(STRLK)互联网卫星业务中寻求回报。有人猜测Starlink将在某个时候通过IPO获得自由。看看SpaceX的发射计划，最早计划在2022年进行月球之旅，猎鹰9号火箭将代表阿拉伯联合酋长国运送一辆探索漫游车。</blockquote></p><p><b>Self-driving truck startup TuSimple is said to have raised $1.35B in IPO.</b></p><p><blockquote><b>据称，自动驾驶卡车初创公司TuSimple已通过IPO筹集了1.35 B美元。</b></blockquote></p><p>Self-driving truck startup TuSimple (TSP) is said to have raised $1.35B in an IPO, pricing the shares at $40, above an earlier range. TuSimple and a selling shareholder sold 34M shares at $40 each, above an estimated price of $35-$39, according to a Bloomberg report.</p><p><blockquote>据称，自动驾驶卡车初创公司TuSimple(TSP)在IPO中筹集了1.35 B美元，股价为40美元，高于之前的区间。据彭博社报道，图森未来和一名售股股东以每股40美元的价格出售了3400万股股票，高于35-39美元的预估价格。</blockquote></p><p>The company is backed by strategic investors, including Volkswagen AG’s(OTCPK:VLKAF)heavy-truck business The Traton Group, Navistar(NYSE:NAV), Goodyear(NASDAQ:GT), U.S. Xpress(NYSE:USX), NVIDIA(NASDAQ:NVDA)and United Parcel Service(NYSE:UPS).</p><p><blockquote>该公司得到了战略投资者的支持，包括大众汽车公司（OTCPK：VLKAF）的重型卡车业务Traton Group、Navistar（纽约证券交易所：NAV）、固特异（纳斯达克：GT）、U.S.Xpress（纽约证券交易所：USX）、NVIDIA（纳斯达克：NVDA）和联合包裹服务公司（纽约证券交易所：UPS）。</blockquote></p><p><b>Lucid Motors says its new electric vehicle is ready for the cold stuff</b></p><p><blockquote><b>Lucid Motors表示其新型电动汽车已做好应对寒冷天气的准备</b></blockquote></p><p>Lucid Motors (LUCIDM) updates on a cold weather test run on the Lucid Air at -40 degrees Celsius.</p><p><blockquote>Lucid Motors(LUCIDM)更新了Lucid Air在-40摄氏度下进行的寒冷天气测试。</blockquote></p><p>\"Lucid Air hit all its cold weather testing targets from quickly warming up, to starting, charging, and more. And despite cold temperatures, the quietness of the cabin was notable. Typically, interior components of a vehicle get noisier as its temperature drops. Not Lucid Air. Its NVH aspect - or Noise, Vibration, and Harshness rating - tested exceptionally well. And for luxury vehicle owners, that's a crucial outcome.\"</p><p><blockquote>“Lucid Air达到了所有寒冷天气测试目标，从快速预热到启动、充电等。尽管气温很低，但机舱的安静度还是很显著的。通常情况下，随着温度的下降，车辆的内部部件会变得更加嘈杂。不是Lucid Air。它的NVH方面——或噪音、振动和声振粗糙度——测试得非常好。对于豪华车车主来说，这是一个至关重要的结果。”</blockquote></p><p><b>What else is happening...</b></p><p><blockquote><b>还发生了什么...</b></blockquote></p><p>Taiwan Semiconductor(NYSE:TSM)EPS beats by $0.04, beats on revenue.Shopify(NYSE:SHOP)loses some key execsamid growth push.Bitcoin (BTC-USD)hangs near record high.Oil(CL1:COM)hits highest since mid-Marchon strong demand outlook.Copper(HG1:COM)on path to $15K/ton in 2025thanks to green transition, Goldman says.AstraZenca’s(NASDAQ:AZN)COVID-19 vaccine trumps Ocugen's Covaxinin Indian study.</p><p><blockquote>台积电(NYSE：TSM)每股收益超过预期0.04美元，营收超出预期。Shopify(NYSE：SHOP)在增长推动下失去了一些关键高管。比特币(BTC-USD)徘徊在历史新高附近。石油(CL1：COM)触及3月中旬以来的最高水平强劲的需求前景。高盛表示，由于绿色转型，铜(HG1：COM)将在2025年达到15,000美元/吨。阿斯利康(纳斯达克：AZN)的COVID-19疫苗在印度研究中击败了Ocugen的Covaxinin。</blockquote></p><p><b>Today's Markets</b></p><p><blockquote><b>今日市场</b></blockquote></p><p><b>In Asia,</b>Japan+0.1%. Hong Kong-0.4%. China-0.5%. India+0.6%.</p><p><blockquote><b>在亚洲，</b>日本+0.1%。香港-0.4%。中国-0.5%。印度+0.6%。</blockquote></p><p><b>In Europe,</b>at midday, London+0.4%. Paris+0.3%. Frankfurt+0.3%.</p><p><blockquote><b>在欧洲，</b>午盘，伦敦+0.4%。巴黎+0.3%。法兰克福+0.3%。</blockquote></p><p><b>Futures at 6:20,</b>Dow+0.4%. S&amp;P+0.4%. Nasdaq+0.5%. Crude-0.7%to $62.70. Gold+0.6%at $1747.60. Bitcoin-2%to $62311.</p><p><blockquote><b>6点20分期货，</b>道指+0.4%。标准普尔+0.4%。纳斯达克+0.5%。原油-0.7%至62.70美元。黄金上涨0.6%，至1747.60美元。比特币-2%至62311美元。</blockquote></p><p><b>Ten-year Treasury Yield</b>-2 bps to1.615%</p><p><blockquote><b>十年期国债收益率</b>-2个基点至1.615%</blockquote></p><p><b>Today's Economic Calendar</b></p><p><blockquote><b>今日经济日历</b></blockquote></p><p>8:30&nbsp;Initial Jobless Claims</p><p><blockquote>8:30首次申请失业救济人数</blockquote></p><p>8:30&nbsp;Philly Fed Business Outlook</p><p><blockquote>8:30费城联储商业展望</blockquote></p><p>8:30&nbsp;Retail Sales</p><p><blockquote>8:30零售额</blockquote></p><p>8:30&nbsp;Empire State Mfg Survey</p><p><blockquote>8:30帝国大厦制造业调查</blockquote></p><p>9:15&nbsp;Industrial Production</p><p><blockquote>9:15工业生产</blockquote></p><p>10:00&nbsp;Business Inventories</p><p><blockquote>10:00业务库存</blockquote></p><p>10:00&nbsp;NAHB Housing Market Index</p><p><blockquote>10:00 NAHB房地产市场指数</blockquote></p><p>10:30&nbsp;EIA Natural Gas Inventory</p><p><blockquote>10:30 EIA天然气库存</blockquote></p><p>11:30&nbsp;Fed's Bostic: \"The Atlantic's Progress Report: The State of the Black Community\"</p><p><blockquote>11:30美联储博斯蒂克：《大西洋月刊进展报告：黑人社区状况》</blockquote></p><p>2:00 PMFed’s Daly Speech</p><p><blockquote>下午2:00美联储戴利演讲</blockquote></p><p>4:00 PMFed’s Mester: \"Economic Inclusion\"</p><p><blockquote>下午4:00美联储梅斯特：“经济包容性”</blockquote></p><p>4:00 PMTreasury International Capital</p><p><blockquote>下午4:00财资国际资本</blockquote></p><p>4:30 PMFed Balance Sheet</p><p><blockquote>下午4:30美联储资产负债表</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Breakfast: Retail Rebound<blockquote>华尔街早餐：零售业反弹</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\">\nWall Street Breakfast: Retail Rebound<blockquote>华尔街早餐：零售业反弹</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-04-15 19:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Retail rebound</b></p><p><blockquote><b>零售反弹</b></blockquote></p><p>The market will get some insight into how much the consumer is participating in the economic recovery with the latest retail sales numbers today. S&amp;P futures(SPX), Nasdaq futures(NDX:IND)and Dow futures(INDU)are all in the green.</p><p><blockquote>通过今天最新的零售销售数据，市场将深入了解消费者对经济复苏的参与程度。标准普尔期货（SPX）、纳斯达克期货（NDX：IND）和道指期货（INDU）均呈绿色。</blockquote></p><p>The Commerce Department will release March retail sales at 8:30 AM ET. Economists, on average, are looking for a strong rebound, with sales rising 5.9%, compared with a 3% drop in February. Core retail sales, which exclude autos, are forecast to rise 5%, reversing a 2.7% decline the month before. Retail sales have posted gains in just four months since the lockdown measures took hold last year, the most recent being a 5.3% gain for January.</p><p><blockquote>商务部将于美国东部时间上午8:30发布3月份零售销售数据。平均而言，经济学家预计销售额将强劲反弹，销售额将增长5.9%，而2月份则下降了3%。不包括汽车在内的核心零售额预计将增长5%，扭转上个月2.7%的降幅。自去年实施封锁措施以来，零售额在短短四个月内就实现了增长，最近一次是1月份增长了5.3%。</blockquote></p><p>If sales rise as anticipated, that would be a good indication that the latest round of $1,400 direct checks are making their way into the economy, providing the stimulus intended by the White House. A miss may indicate that the money is being channeled to other avenues, such as savings or asset purchases. The New York Fed said last week that 42 cents of every stimulus dollar were being saved, while 25% of funds are being spent and the rest is being used to pay down debt.</p><p><blockquote>如果销售额按预期增长，这将是一个很好的迹象，表明最新一轮1400美元的直接支票正在进入经济，提供白宫打算的刺激措施。错过可能表明资金被转移到其他途径，例如储蓄或资产购买。纽约联储上周表示，每一美元的刺激资金中有42美分被节省下来，而25%的资金被支出，其余的用于偿还债务。</blockquote></p><p>Reflation trade: For the stock market, a strong retail sales number could kick-start the reflation trade that favors cyclicals, which has lost steam of late. Despite a number of market-moving events, the S&amp;P(NYSEARCA:SPY)has struggled to gain traction in either direction and is down 0.1% for the week.</p><p><blockquote>通货再膨胀交易：对于股市来说，强劲的零售销售数据可能会启动有利于周期性股票的通货再膨胀交易，而周期性股票最近已经失去了动力。尽管发生了一系列影响市场的事件，但标准普尔指数（NYSEARCA：SPDR标普500指数ETF）仍难以在两个方向上获得牵引力，本周下跌0.1%。</blockquote></p><p>“The reflation trade has been taking a spring break,” says UBS Global Wealth Management CIO Mark Haefele. “We believe investors should continue to position for reflation” as vaccinations roll out and economies recover, he adds, according to Bloomberg. Financials(NYSEARCA:XLF), Industrials(NYSEARCA:XLI)and Energy(NYSEARCA:XLE)are likely to outperform.</p><p><blockquote>瑞银全球财富管理首席信息官马克·海菲尔表示：“通货再膨胀交易一直在放春假。”据彭博社报道，他补充道，随着疫苗接种的推出和经济的复苏，“我们认为投资者应该继续为通货再膨胀做好准备”。金融股（NYSEARCA：XLF）、工业股（NYSEARCA：XLI）和能源股（NYSEARCA：XLE）可能会跑赢大盘。</blockquote></p><p>Barclays strategist Emmanuel Cau says value is attractive as a hedge to overheating, but he's less positive on leisure, food retail and autos.</p><p><blockquote>巴克莱策略师Emmanuel Cau表示，价值作为对冲过热的手段具有吸引力，但他对休闲、食品零售和汽车不太乐观。</blockquote></p><p>Economy accelerating, but still moderate: The Fed's Beige Book, out yesterday, said the U.S. economy is accelerating to a moderate pace, while some of the sectors hit hardest by the pandemic are showing signs of recovery.</p><p><blockquote>经济加速，但仍然温和：美联储昨天发布的褐皮书称，美国经济正在以温和的速度加速，而一些受疫情打击最严重的行业正显示出复苏的迹象。</blockquote></p><p>\"Reports on tourism were more upbeat, bolstered by a pickup in demand for leisure activities and travel which contacts attributed to spring break, an easing of pandemic-related restrictions, increased vaccinations, and recent stimulus payments among other factors,\" the report said.</p><p><blockquote>报告称：“旅游业报告更加乐观，这得益于春假、疫情相关限制放松、疫苗接种增加以及最近的刺激付款等因素对休闲活动和旅行需求的回升。”</blockquote></p><p>Economic growth and consumer spending \"accelerated over the last 6 weeks and pent-up demand for leisure activity and travel are starting to materialize,\" DataTrek Research writes. \"Inflation has picked up and companies face both labor shortages and supply chain disruptions. In the end, we continue to agree with the Fed that near-term inflation is transitory rather than structural, so we don’t think Chair Powell will view these inflationary pressures as a major red flag.\"</p><p><blockquote>DataTrek Research写道，经济增长和消费者支出“在过去6周内加速，被压抑的休闲活动和旅行需求开始实现”。“通胀加剧，企业同时面临劳动力短缺和供应链中断。最终，我们继续同意美联储的观点，即近期通胀是暂时性的，而不是结构性的，因此我们认为鲍威尔主席不会将这些通胀压力视为一个重大危险信号。”</blockquote></p><p>\"Moreover, the latest Fed Beige Book reports continue to show employers’ challenge of pulling workers back into the labor force,\" DataTrek adds. \"That will take time as vaccines roll out and childcare becomes more accessible, factors that are out of Chair Powell’s control. That’s why he and the Fed continue to signal holding rates near zero through at least 2022 to let the economy run hot enough to achieve their dual mandate.\"</p><p><blockquote>DataTrek补充道：“此外，最新的美联储褐皮书报告继续显示雇主在让工人重返劳动力市场方面面临的挑战。”“随着疫苗的推出和儿童保育变得更加容易，这需要时间，这些因素超出了鲍威尔主席的控制范围。这就是为什么他和美联储继续暗示至少在2022年之前将利率维持在接近零的水平，以让经济足够热以实现他们的双重使命。”</blockquote></p><p><b>ARK Invest snaps up Coinbase</b></p><p><blockquote><b>ARK Invest抢购Coinbase</b></blockquote></p><p>ARK Investment Management bought shares of newly-public Coinbase Global(NASDAQ:COIN)for three different funds, while selling some of its Tesla(NASDAQ:TSLA)holdings.</p><p><blockquote>ARK Investment Management为三只不同的基金购买了新上市的Coinbase Global（纳斯达克：COIN）的股票，同时出售了其持有的部分特斯拉（纳斯达克：TSLA）股份。</blockquote></p><p>Cathie Wood bought 89,589 shares of Coinbase for the ARK Fintech Innovation ETF(NYSEARCA:ARKF). She bought 512,535 shares of the crypto trading platform for the flagship ARK Innovation ETF(NYSEARCA:ARKK). And she added 147,081 COIN shares to the ARK Next Generation Internet ETF(NYSEARCA:ARKW). That was about $246M worth of Coinbase shares.</p><p><blockquote>Cathie Wood为ARK Fintech Innovation ETF（NYSEARCA：ARKF）购买了89,589股Coinbase股票。她为旗舰ARK Innovation ETF（NYSEARCA：ARKK）购买了512,535股加密货币交易平台股票。她还向ARK下一代互联网ETF（NYSEARCA：ARKW）添加了147,081股COIN股票。这相当于价值约2.46亿美元的Coinbase股票。</blockquote></p><p>\"There are going to be great opportunities from now and five years to buy (Coinbase) on dips,\" Wood told Bloomberg. ARK thinks institutional interest could add $500K to the price of Bitcoin (BTC-USD). ARK sold 185,712 shares of Tesla from ARKK and 57,043 shares of the automaker from ARKW. Tesla is the top holding in ARKW and ARKK. Coinbase rose 30% in its debut yesterday, but closed down from where it opened the day.</p><p><blockquote>伍德告诉彭博社：“从现在到五年后，逢低买入（Coinbase）将会有很好的机会。”ARK认为机构兴趣可能会使比特币（BTC-USD）的价格增加50万美元。ARK从ARKK出售了185,712股特斯拉股票，从ARKW出售了57,043股该汽车制造商股票。特斯拉是ARKW和ARKK的最大持股。Coinbase昨天首次亮相就上涨了30%，但收盘时较当天开盘下跌。</blockquote></p><p><b>SpaceX valued at $74B</b></p><p><blockquote><b>SpaceX估值$74B</b></blockquote></p><p>SpaceX (SPACE) increased the size of its last equity raise, according to an SEC filing. The company brought in another $314M to add to the $850M previously reported. The new total equity raise of $1.16B values SpaceX at around $74B.</p><p><blockquote>根据美国证券交易委员会(SEC)提交的文件，SpaceX(SPACE)增加了上次股权融资的规模。该公司在之前报告的8.5亿美元的基础上又带来了3.14亿美元。新的1.16 B美元的股权融资总额使SpaceX的估值约为740亿美元。</blockquote></p><p></p><p>Investors in SpaceX are likely to be looking for a payoff from the Starlink (STRLK) Internet satellite business. There is speculation that Starlink will be set free in an IPO at some point. Looking at SpaceX's launch plans, a trip to the moon is planned for as early as 2022 with the Falcon 9 rocket slated to deliver an exploration rover on behalf of the United Arab Emirates.</p><p><blockquote>SpaceX的投资者可能会从Starlink(STRLK)互联网卫星业务中寻求回报。有人猜测Starlink将在某个时候通过IPO获得自由。看看SpaceX的发射计划，最早计划在2022年进行月球之旅，猎鹰9号火箭将代表阿拉伯联合酋长国运送一辆探索漫游车。</blockquote></p><p><b>Self-driving truck startup TuSimple is said to have raised $1.35B in IPO.</b></p><p><blockquote><b>据称，自动驾驶卡车初创公司TuSimple已通过IPO筹集了1.35 B美元。</b></blockquote></p><p>Self-driving truck startup TuSimple (TSP) is said to have raised $1.35B in an IPO, pricing the shares at $40, above an earlier range. TuSimple and a selling shareholder sold 34M shares at $40 each, above an estimated price of $35-$39, according to a Bloomberg report.</p><p><blockquote>据称，自动驾驶卡车初创公司TuSimple(TSP)在IPO中筹集了1.35 B美元，股价为40美元，高于之前的区间。据彭博社报道，图森未来和一名售股股东以每股40美元的价格出售了3400万股股票，高于35-39美元的预估价格。</blockquote></p><p>The company is backed by strategic investors, including Volkswagen AG’s(OTCPK:VLKAF)heavy-truck business The Traton Group, Navistar(NYSE:NAV), Goodyear(NASDAQ:GT), U.S. Xpress(NYSE:USX), NVIDIA(NASDAQ:NVDA)and United Parcel Service(NYSE:UPS).</p><p><blockquote>该公司得到了战略投资者的支持，包括大众汽车公司（OTCPK：VLKAF）的重型卡车业务Traton Group、Navistar（纽约证券交易所：NAV）、固特异（纳斯达克：GT）、U.S.Xpress（纽约证券交易所：USX）、NVIDIA（纳斯达克：NVDA）和联合包裹服务公司（纽约证券交易所：UPS）。</blockquote></p><p><b>Lucid Motors says its new electric vehicle is ready for the cold stuff</b></p><p><blockquote><b>Lucid Motors表示其新型电动汽车已做好应对寒冷天气的准备</b></blockquote></p><p>Lucid Motors (LUCIDM) updates on a cold weather test run on the Lucid Air at -40 degrees Celsius.</p><p><blockquote>Lucid Motors(LUCIDM)更新了Lucid Air在-40摄氏度下进行的寒冷天气测试。</blockquote></p><p>\"Lucid Air hit all its cold weather testing targets from quickly warming up, to starting, charging, and more. And despite cold temperatures, the quietness of the cabin was notable. Typically, interior components of a vehicle get noisier as its temperature drops. Not Lucid Air. Its NVH aspect - or Noise, Vibration, and Harshness rating - tested exceptionally well. And for luxury vehicle owners, that's a crucial outcome.\"</p><p><blockquote>“Lucid Air达到了所有寒冷天气测试目标，从快速预热到启动、充电等。尽管气温很低，但机舱的安静度还是很显著的。通常情况下，随着温度的下降，车辆的内部部件会变得更加嘈杂。不是Lucid Air。它的NVH方面——或噪音、振动和声振粗糙度——测试得非常好。对于豪华车车主来说，这是一个至关重要的结果。”</blockquote></p><p><b>What else is happening...</b></p><p><blockquote><b>还发生了什么...</b></blockquote></p><p>Taiwan Semiconductor(NYSE:TSM)EPS beats by $0.04, beats on revenue.Shopify(NYSE:SHOP)loses some key execsamid growth push.Bitcoin (BTC-USD)hangs near record high.Oil(CL1:COM)hits highest since mid-Marchon strong demand outlook.Copper(HG1:COM)on path to $15K/ton in 2025thanks to green transition, Goldman says.AstraZenca’s(NASDAQ:AZN)COVID-19 vaccine trumps Ocugen's Covaxinin Indian study.</p><p><blockquote>台积电(NYSE：TSM)每股收益超过预期0.04美元，营收超出预期。Shopify(NYSE：SHOP)在增长推动下失去了一些关键高管。比特币(BTC-USD)徘徊在历史新高附近。石油(CL1：COM)触及3月中旬以来的最高水平强劲的需求前景。高盛表示，由于绿色转型，铜(HG1：COM)将在2025年达到15,000美元/吨。阿斯利康(纳斯达克：AZN)的COVID-19疫苗在印度研究中击败了Ocugen的Covaxinin。</blockquote></p><p><b>Today's Markets</b></p><p><blockquote><b>今日市场</b></blockquote></p><p><b>In Asia,</b>Japan+0.1%. Hong Kong-0.4%. China-0.5%. India+0.6%.</p><p><blockquote><b>在亚洲，</b>日本+0.1%。香港-0.4%。中国-0.5%。印度+0.6%。</blockquote></p><p><b>In Europe,</b>at midday, London+0.4%. Paris+0.3%. Frankfurt+0.3%.</p><p><blockquote><b>在欧洲，</b>午盘，伦敦+0.4%。巴黎+0.3%。法兰克福+0.3%。</blockquote></p><p><b>Futures at 6:20,</b>Dow+0.4%. S&amp;P+0.4%. Nasdaq+0.5%. Crude-0.7%to $62.70. Gold+0.6%at $1747.60. Bitcoin-2%to $62311.</p><p><blockquote><b>6点20分期货，</b>道指+0.4%。标准普尔+0.4%。纳斯达克+0.5%。原油-0.7%至62.70美元。黄金上涨0.6%，至1747.60美元。比特币-2%至62311美元。</blockquote></p><p><b>Ten-year Treasury Yield</b>-2 bps to1.615%</p><p><blockquote><b>十年期国债收益率</b>-2个基点至1.615%</blockquote></p><p><b>Today's Economic Calendar</b></p><p><blockquote><b>今日经济日历</b></blockquote></p><p>8:30&nbsp;Initial Jobless Claims</p><p><blockquote>8:30首次申请失业救济人数</blockquote></p><p>8:30&nbsp;Philly Fed Business Outlook</p><p><blockquote>8:30费城联储商业展望</blockquote></p><p>8:30&nbsp;Retail Sales</p><p><blockquote>8:30零售额</blockquote></p><p>8:30&nbsp;Empire State Mfg Survey</p><p><blockquote>8:30帝国大厦制造业调查</blockquote></p><p>9:15&nbsp;Industrial Production</p><p><blockquote>9:15工业生产</blockquote></p><p>10:00&nbsp;Business Inventories</p><p><blockquote>10:00业务库存</blockquote></p><p>10:00&nbsp;NAHB Housing Market Index</p><p><blockquote>10:00 NAHB房地产市场指数</blockquote></p><p>10:30&nbsp;EIA Natural Gas Inventory</p><p><blockquote>10:30 EIA天然气库存</blockquote></p><p>11:30&nbsp;Fed's Bostic: \"The Atlantic's Progress Report: The State of the Black Community\"</p><p><blockquote>11:30美联储博斯蒂克：《大西洋月刊进展报告：黑人社区状况》</blockquote></p><p>2:00 PMFed’s Daly Speech</p><p><blockquote>下午2:00美联储戴利演讲</blockquote></p><p>4:00 PMFed’s Mester: \"Economic Inclusion\"</p><p><blockquote>下午4:00美联储梅斯特：“经济包容性”</blockquote></p><p>4:00 PMTreasury International Capital</p><p><blockquote>下午4:00财资国际资本</blockquote></p><p>4:30 PMFed Balance Sheet</p><p><blockquote>下午4:30美联储资产负债表</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4419172-wall-street-breakfast-retail-rebound\">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":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://seekingalpha.com/article/4419172-wall-street-breakfast-retail-rebound","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128319234","content_text":"Retail reboundThe market will get some insight into how much the consumer is participating in the economic recovery with the latest retail sales numbers today. S&P futures(SPX), Nasdaq futures(NDX:IND)and Dow futures(INDU)are all in the green.The Commerce Department will release March retail sales at 8:30 AM ET. Economists, on average, are looking for a strong rebound, with sales rising 5.9%, compared with a 3% drop in February. Core retail sales, which exclude autos, are forecast to rise 5%, reversing a 2.7% decline the month before. Retail sales have posted gains in just four months since the lockdown measures took hold last year, the most recent being a 5.3% gain for January.If sales rise as anticipated, that would be a good indication that the latest round of $1,400 direct checks are making their way into the economy, providing the stimulus intended by the White House. A miss may indicate that the money is being channeled to other avenues, such as savings or asset purchases. The New York Fed said last week that 42 cents of every stimulus dollar were being saved, while 25% of funds are being spent and the rest is being used to pay down debt.Reflation trade: For the stock market, a strong retail sales number could kick-start the reflation trade that favors cyclicals, which has lost steam of late. Despite a number of market-moving events, the S&P(NYSEARCA:SPY)has struggled to gain traction in either direction and is down 0.1% for the week.“The reflation trade has been taking a spring break,” says UBS Global Wealth Management CIO Mark Haefele. “We believe investors should continue to position for reflation” as vaccinations roll out and economies recover, he adds, according to Bloomberg. Financials(NYSEARCA:XLF), Industrials(NYSEARCA:XLI)and Energy(NYSEARCA:XLE)are likely to outperform.Barclays strategist Emmanuel Cau says value is attractive as a hedge to overheating, but he's less positive on leisure, food retail and autos.Economy accelerating, but still moderate: The Fed's Beige Book, out yesterday, said the U.S. economy is accelerating to a moderate pace, while some of the sectors hit hardest by the pandemic are showing signs of recovery.\"Reports on tourism were more upbeat, bolstered by a pickup in demand for leisure activities and travel which contacts attributed to spring break, an easing of pandemic-related restrictions, increased vaccinations, and recent stimulus payments among other factors,\" the report said.Economic growth and consumer spending \"accelerated over the last 6 weeks and pent-up demand for leisure activity and travel are starting to materialize,\" DataTrek Research writes. \"Inflation has picked up and companies face both labor shortages and supply chain disruptions. In the end, we continue to agree with the Fed that near-term inflation is transitory rather than structural, so we don’t think Chair Powell will view these inflationary pressures as a major red flag.\"\"Moreover, the latest Fed Beige Book reports continue to show employers’ challenge of pulling workers back into the labor force,\" DataTrek adds. \"That will take time as vaccines roll out and childcare becomes more accessible, factors that are out of Chair Powell’s control. That’s why he and the Fed continue to signal holding rates near zero through at least 2022 to let the economy run hot enough to achieve their dual mandate.\"ARK Invest snaps up CoinbaseARK Investment Management bought shares of newly-public Coinbase Global(NASDAQ:COIN)for three different funds, while selling some of its Tesla(NASDAQ:TSLA)holdings.Cathie Wood bought 89,589 shares of Coinbase for the ARK Fintech Innovation ETF(NYSEARCA:ARKF). She bought 512,535 shares of the crypto trading platform for the flagship ARK Innovation ETF(NYSEARCA:ARKK). And she added 147,081 COIN shares to the ARK Next Generation Internet ETF(NYSEARCA:ARKW). That was about $246M worth of Coinbase shares.\"There are going to be great opportunities from now and five years to buy (Coinbase) on dips,\" Wood told Bloomberg. ARK thinks institutional interest could add $500K to the price of Bitcoin (BTC-USD). ARK sold 185,712 shares of Tesla from ARKK and 57,043 shares of the automaker from ARKW. Tesla is the top holding in ARKW and ARKK. Coinbase rose 30% in its debut yesterday, but closed down from where it opened the day.SpaceX valued at $74BSpaceX (SPACE) increased the size of its last equity raise, according to an SEC filing. The company brought in another $314M to add to the $850M previously reported. The new total equity raise of $1.16B values SpaceX at around $74B.Investors in SpaceX are likely to be looking for a payoff from the Starlink (STRLK) Internet satellite business. There is speculation that Starlink will be set free in an IPO at some point. Looking at SpaceX's launch plans, a trip to the moon is planned for as early as 2022 with the Falcon 9 rocket slated to deliver an exploration rover on behalf of the United Arab Emirates.Self-driving truck startup TuSimple is said to have raised $1.35B in IPO.Self-driving truck startup TuSimple (TSP) is said to have raised $1.35B in an IPO, pricing the shares at $40, above an earlier range. TuSimple and a selling shareholder sold 34M shares at $40 each, above an estimated price of $35-$39, according to a Bloomberg report.The company is backed by strategic investors, including Volkswagen AG’s(OTCPK:VLKAF)heavy-truck business The Traton Group, Navistar(NYSE:NAV), Goodyear(NASDAQ:GT), U.S. Xpress(NYSE:USX), NVIDIA(NASDAQ:NVDA)and United Parcel Service(NYSE:UPS).Lucid Motors says its new electric vehicle is ready for the cold stuffLucid Motors (LUCIDM) updates on a cold weather test run on the Lucid Air at -40 degrees Celsius.\"Lucid Air hit all its cold weather testing targets from quickly warming up, to starting, charging, and more. And despite cold temperatures, the quietness of the cabin was notable. Typically, interior components of a vehicle get noisier as its temperature drops. Not Lucid Air. Its NVH aspect - or Noise, Vibration, and Harshness rating - tested exceptionally well. And for luxury vehicle owners, that's a crucial outcome.\"What else is happening...Taiwan Semiconductor(NYSE:TSM)EPS beats by $0.04, beats on revenue.Shopify(NYSE:SHOP)loses some key execsamid growth push.Bitcoin (BTC-USD)hangs near record high.Oil(CL1:COM)hits highest since mid-Marchon strong demand outlook.Copper(HG1:COM)on path to $15K/ton in 2025thanks to green transition, Goldman says.AstraZenca’s(NASDAQ:AZN)COVID-19 vaccine trumps Ocugen's Covaxinin Indian study.Today's MarketsIn Asia,Japan+0.1%. Hong Kong-0.4%. China-0.5%. India+0.6%.In Europe,at midday, London+0.4%. Paris+0.3%. Frankfurt+0.3%.Futures at 6:20,Dow+0.4%. S&P+0.4%. Nasdaq+0.5%. Crude-0.7%to $62.70. Gold+0.6%at $1747.60. Bitcoin-2%to $62311.Ten-year Treasury Yield-2 bps to1.615%Today's Economic Calendar8:30 Initial Jobless Claims8:30 Philly Fed Business Outlook8:30 Retail Sales8:30 Empire State Mfg Survey9:15 Industrial Production10:00 Business Inventories10:00 NAHB Housing Market Index10:30 EIA Natural Gas Inventory11:30 Fed's Bostic: \"The Atlantic's Progress Report: The State of the Black Community\"2:00 PMFed’s Daly Speech4:00 PMFed’s Mester: \"Economic Inclusion\"4:00 PMTreasury International Capital4:30 PMFed Balance Sheet","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":944,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":132038450,"gmtCreate":1622043851570,"gmtModify":1634184368615,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577226353596605","authorIdStr":"3577226353596605"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>30?","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>30?","text":"$Tiger Brokers(TIGR)$30?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/132038450","isVote":1,"tweetType":1,"viewCount":1036,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109299075,"gmtCreate":1619697425097,"gmtModify":1634210654744,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577226353596605","authorIdStr":"3577226353596605"},"themes":[],"htmlText":"Please help me like","listText":"Please help me like","text":"Please help me like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/109299075","repostId":"1183966356","repostType":4,"repost":{"id":"1183966356","kind":"news","pubTimestamp":1619665696,"share":"https://www.laohu8.com/m/news/1183966356?lang=zh_CN&edition=full","pubTime":"2021-04-29 11:08","market":"us","language":"en","title":"NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183966356","media":"InvestoPedia","summary":"Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.Revenue is expected to soar on expanding vehicle sales.NIO Inc. , like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles . NIO's production stoppage in late March had little impact on the company's record ve","content":"<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每ADS亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度车辆交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>","source":"lsy1606203311635","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>NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</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\">\nNIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestoPedia</strong><span class=\"h-time small\">2021-04-29 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每ADS亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度车辆交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991\">InvestoPedia</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":{"NIO":"蔚来"},"source_url":"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183966356","content_text":"Focus on NIO vehicle deliveries\nKEY TAKEAWAYS\n\nAnalysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.\nVehicle deliveries, already announced, rose dramatically YOY.\nRevenue is expected to soar on expanding vehicle sales.\n\nNIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.\nInvestors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.\nVehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.\nShares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&P 500's total return of 45.5%.\nSource: TradingView.\nNIO Earnings History\nThe stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's Q4 FY 2020 earnings report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its gross margin rose to 17.2% compared to negative 8.9% in the year-ago quarter.\nIn Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.\nAnalysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.\nSource: Visible Alpha; NIO Inc.\nThe Key Metric\nAs mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.\nNIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324343541,"gmtCreate":1615968865783,"gmtModify":1703495651198,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577226353596605","authorIdStr":"3577226353596605"},"themes":[],"htmlText":"comment please","listText":"comment please","text":"comment 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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":1617280365,"share":"https://www.laohu8.com/m/news/1144081100?lang=zh_CN&edition=full","pubTime":"2021-04-01 20:32","market":"us","language":"en","title":"US.weekly jobless claims total 719,000, above expected<blockquote>美国每周初请失业金人数总计71.9万人，高于预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144081100","media":"Tiger Newspress","summary":"(April 1) First-time claims for jobless benefits were higher than expected last week, with 719,000 m","content":"<p>(April 1)&nbsp;First-time claims for jobless benefits were higher than expected last week, with 719,000 more workers heading to the unemployment line, the Labor Department reported Thursday.</p><p><blockquote>（4月1日）美国劳工部周四报告称，上周首次申请失业救济人数高于预期，又有71.9万名工人接近失业线。</blockquote></p><p>The total compared to the 675,000 estimate from Dow Jones and was above last week’s downwardly revised 658,000.</p><p><blockquote>与道琼斯估计的675,000人相比，这一总数高于上周向下修正的658,000人。</blockquote></p><p>While the number of weekly claims remains inordinately high by historical means, the trend is falling now that the U.S. economy continues to reopen and close to 3 million Americans receive vacations each day for Covid-19.</p><p><blockquote>虽然从历史角度来看，每周申请失业救济人数仍然过高，但随着美国经济继续重新开放，每天有近300万美国人因Covid-19休假，这一趋势正在下降。</blockquote></p><p>Continuing claims, which run a week behind the headline number, fell by 46,000 to just below 3.8 million.</p><p><blockquote>持续申请失业救济人数比总体数字落后一周，减少了46,000人，略低于380万人。</blockquote></p><p>The report comes a day ahead of the government’s nonfarm payrolls count for March, which is expected to show a gain of 675,000, to follow on February’s 379,000.</p><p><blockquote>该报告是在政府公布3月份非农就业人数的前一天发布的，预计3月份非农就业人数将比2月份的37.9万人增加675,000人。</blockquote></p><p>Along with the efforts to combat the virus, the Biden Administration continues to shovel money to boost an economy that is showing signs of solid growth. The president put forth a $2 trillion spending plan Thursday that will build on more than $5 trillion of stimulus either already spent or announced on programs aimed at pulling the nation out of the crisis slump.</p><p><blockquote>在努力抗击病毒的同时，拜登政府继续投入资金来提振显示出稳健增长迹象的经济。总统周四提出了一项2万亿美元的支出计划，该计划将建立在已经支出或宣布的超过5万亿美元的刺激计划的基础上，旨在使国家摆脱危机衰退。</blockquote></p><p>While the pace of job gains slowed in the early part of the winter, recent indications are that hiring has picked up.</p><p><blockquote>尽管初冬就业增长速度放缓，但最近的迹象表明招聘有所回升。</blockquote></p><p>Payroll processing firm ADP estimated that the companies added 517,000 workers in March, the fastest pace since September. Recent manufacturing reports also show plans ahead for more hiring, and job gains appear to be strongest in the battered hospitality sector, which took the worst of the losses due to social distancing and government-imposed restrictions.</p><p><blockquote>薪资处理公司ADP估计，这些公司3月份增加了517,000名员工，这是自9月份以来的最快速度。最近的制造业报告还显示了未来更多招聘的计划，而遭受重创的酒店业的就业增长似乎最为强劲，由于社交距离和政府施加的限制，该行业遭受的损失最为严重。</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>US.weekly jobless claims total 719,000, above expected<blockquote>美国每周初请失业金人数总计71.9万人，高于预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS.weekly jobless claims total 719,000, above expected<blockquote>美国每周初请失业金人数总计71.9万人，高于预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-01 20:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(April 1)&nbsp;First-time claims for jobless benefits were higher than expected last week, with 719,000 more workers heading to the unemployment line, the Labor Department reported Thursday.</p><p><blockquote>（4月1日）美国劳工部周四报告称，上周首次申请失业救济人数高于预期，又有71.9万名工人接近失业线。</blockquote></p><p>The total compared to the 675,000 estimate from Dow Jones and was above last week’s downwardly revised 658,000.</p><p><blockquote>与道琼斯估计的675,000人相比，这一总数高于上周向下修正的658,000人。</blockquote></p><p>While the number of weekly claims remains inordinately high by historical means, the trend is falling now that the U.S. economy continues to reopen and close to 3 million Americans receive vacations each day for Covid-19.</p><p><blockquote>虽然从历史角度来看，每周申请失业救济人数仍然过高，但随着美国经济继续重新开放，每天有近300万美国人因Covid-19休假，这一趋势正在下降。</blockquote></p><p>Continuing claims, which run a week behind the headline number, fell by 46,000 to just below 3.8 million.</p><p><blockquote>持续申请失业救济人数比总体数字落后一周，减少了46,000人，略低于380万人。</blockquote></p><p>The report comes a day ahead of the government’s nonfarm payrolls count for March, which is expected to show a gain of 675,000, to follow on February’s 379,000.</p><p><blockquote>该报告是在政府公布3月份非农就业人数的前一天发布的，预计3月份非农就业人数将比2月份的37.9万人增加675,000人。</blockquote></p><p>Along with the efforts to combat the virus, the Biden Administration continues to shovel money to boost an economy that is showing signs of solid growth. The president put forth a $2 trillion spending plan Thursday that will build on more than $5 trillion of stimulus either already spent or announced on programs aimed at pulling the nation out of the crisis slump.</p><p><blockquote>在努力抗击病毒的同时，拜登政府继续投入资金来提振显示出稳健增长迹象的经济。总统周四提出了一项2万亿美元的支出计划，该计划将建立在已经支出或宣布的超过5万亿美元的刺激计划的基础上，旨在使国家摆脱危机衰退。</blockquote></p><p>While the pace of job gains slowed in the early part of the winter, recent indications are that hiring has picked up.</p><p><blockquote>尽管初冬就业增长速度放缓，但最近的迹象表明招聘有所回升。</blockquote></p><p>Payroll processing firm ADP estimated that the companies added 517,000 workers in March, the fastest pace since September. Recent manufacturing reports also show plans ahead for more hiring, and job gains appear to be strongest in the battered hospitality sector, which took the worst of the losses due to social distancing and government-imposed restrictions.</p><p><blockquote>薪资处理公司ADP估计，这些公司3月份增加了517,000名员工，这是自9月份以来的最快速度。最近的制造业报告还显示了未来更多招聘的计划，而遭受重创的酒店业的就业增长似乎最为强劲，由于社交距离和政府施加的限制，该行业遭受的损失最为严重。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144081100","content_text":"(April 1) First-time claims for jobless benefits were higher than expected last week, with 719,000 more workers heading to the unemployment line, the Labor Department reported Thursday.The total compared to the 675,000 estimate from Dow Jones and was above last week’s downwardly revised 658,000.While the number of weekly claims remains inordinately high by historical means, the trend is falling now that the U.S. economy continues to reopen and close to 3 million Americans receive vacations each day for Covid-19.Continuing claims, which run a week behind the headline number, fell by 46,000 to just below 3.8 million.The report comes a day ahead of the government’s nonfarm payrolls count for March, which is expected to show a gain of 675,000, to follow on February’s 379,000.Along with the efforts to combat the virus, the Biden Administration continues to shovel money to boost an economy that is showing signs of solid growth. The president put forth a $2 trillion spending plan Thursday that will build on more than $5 trillion of stimulus either already spent or announced on programs aimed at pulling the nation out of the crisis slump.While the pace of job gains slowed in the early part of the winter, recent indications are that hiring has picked up.Payroll processing firm ADP estimated that the companies added 517,000 workers in March, the fastest pace since September. Recent manufacturing reports also show plans ahead for more hiring, and job gains appear to be strongest in the battered hospitality sector, which took the worst of the losses due to social distancing and government-imposed restrictions.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354300570,"gmtCreate":1617125801290,"gmtModify":1634522514004,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577226353596605","authorIdStr":"3577226353596605"},"themes":[],"htmlText":"comment and like","listText":"comment and like","text":"comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/354300570","repostId":"1163996400","repostType":4,"isVote":1,"tweetType":1,"viewCount":250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104213670,"gmtCreate":1620393011390,"gmtModify":1634205570739,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577226353596605","authorIdStr":"3577226353596605"},"themes":[],"htmlText":"ooh","listText":"ooh","text":"ooh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/104213670","repostId":"1157328258","repostType":4,"repost":{"id":"1157328258","kind":"news","pubTimestamp":1620360165,"share":"https://www.laohu8.com/m/news/1157328258?lang=zh_CN&edition=full","pubTime":"2021-05-07 12:02","market":"us","language":"en","title":"Amazon: The Most Clearly Undervalued Company<blockquote>亚马逊：最明显被低估的公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157328258","media":"Seeking alpha","summary":"SummaryAmazon is one of the companies whose growth has not yet reached its limit and not even entere","content":"<p>Summary</p><p><blockquote>总结</blockquote></p><p><ul><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.</li><li>In terms of comparative valuation, AMZN is undervalued against the market.</li><li>DCF-based Amazon stock price target suggests 30% upside potential. But I think this is not even a basic scenario, but a pessimistic scenario.</li></ul>I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.</p><p><blockquote><ul><li>亚马逊是增长尚未达到极限，甚至还没有进入平台期的公司之一。</li><li>就比较估值而言，AMZN相对于市场被低估。</li><li>基于DCF的亚马逊股价目标显示30%的上涨潜力。但我认为这甚至不是一个基本的情景，而是一个悲观的情景。</li></ul>我根据上个季度的业绩对亚马逊（AMZN）进行了全面的分析。</blockquote></p><p>#1 Price vs. Growth</p><p><blockquote>#1价格与增长</blockquote></p><p>First of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.</p><p><blockquote>首先，我们来评估一下我们是否可以从统计数据上说明亚马逊上个季度的增长是加速还是放缓。为此，让我们比较一下有和没有过去四个季度业绩的公司关键部门的收入增长趋势。</blockquote></p><p>The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:</p><p><blockquote>“在线商店”部分的动态显示出质的突破。在不考虑过去四个季度的情况下，这里观察到了接近线性的趋势。现在，它已经成为指数级增长：</blockquote></p><p><img src=\"https://static.tigerbbs.com/bac49a9df0e5b978dc15e20bedfce3da\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Third-Party Seller Services' segment - the exponential growth continues:</p><p><blockquote>“第三方卖家服务”细分市场——指数级增长仍在继续：</blockquote></p><p><img src=\"https://static.tigerbbs.com/6b58df42726bc01c8a5e5c2940d0476d\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:</p><p><blockquote>“订阅服务”（Amazon Prime）细分市场——这里的加速仍然存在，上个季度的结果好于趋势：</blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Other' (advertising services) segment has also showed a significant acceleration:<img src=\"https://static.tigerbbs.com/a58095394bdd79d561166a74942a9e55\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote>“其他”（广告服务）部门也显示出显着的加速：</blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:</p><p><blockquote>‘Amazon Web Services’的增长趋势有所放缓，但从上个季度的结果来看，有逐渐回归之前的趋势：</blockquote></p><p><img src=\"https://static.tigerbbs.com/07069ccaab37c32eed56da69881e7bce\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>Geographically, Amazon's revenue was also significantly better than the trend:</p><p><blockquote>从地域上看，亚马逊的营收也明显好于趋势：</blockquote></p><p><img src=\"https://static.tigerbbs.com/a1d9246e5c01aac6c62e49ad7cd73e2c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/0e7276161a3d2b2159ab3d727d3cb7d9\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>So, statistically, not subjectively, we should recognize the acceleration of the company's growth</i><i><b>in all key segments</b></i><i>. In my opinion, this is exactly what is expected from Amazon.</i></p><p><blockquote><i>因此，从统计上，而不是主观上，我们应该认识到公司增长的加速</i><i><b>在所有关键细分市场</b></i><i>.在我看来，这正是人们对亚马逊的期望。</i></blockquote></p><p>Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:</p><p><blockquote>更远地。在过去10年中，亚马逊的资本化与其收入呈定性线性关系：</blockquote></p><p><img src=\"https://static.tigerbbs.com/f105c314902d29dae4d0f0e400aa2245\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>There is also a certain influence of the company's revenue growth rate on its multiples:</p><p><blockquote>公司营收增速对其倍数也有一定影响：</blockquote></p><p><img src=\"https://static.tigerbbs.com/8beca01b5624a15aab79465c580ded6b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>Based on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:</p><p><blockquote>基于这两种关系，并考虑到美国货币存量增长的影响，有可能建立另一个模型，使我们能够确定公司资本化的平衡水平。此外，该模型允许根据分析师当前对公司未来四个季度收入增长的预期来模拟公司资本的增长。这是这个模型：</blockquote></p><p><img src=\"https://static.tigerbbs.com/083fa1dc350e5e54cc7d3145744c9e4c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d63f0cff5e0dd83343d26ee90552a033\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>As you can see, firstly, this model indicates that the company's current price is already</i><i><b>below the balanced level</b></i><i>. And secondly, it assumes a</i><i><b>25% growth</b></i><i>in capitalization in the next four quarters.</i></p><p><blockquote><i>正如你所看到的，首先，这个模型表明公司当前的价格已经</i><i><b>低于平衡水平</b></i><i>其次，它假设</i><i><b>25%增长</b></i><i>未来四个季度的资本化。</i></blockquote></p><p>#2 Comparative Valuation</p><p><blockquote>#2比较估值</blockquote></p><p>In the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:</p><p><blockquote>在上一个模块中，我根据收入对亚马逊的均衡价格进行了建模。值得注意的是，如果我们用同样的方法使用倍数对公司进行比较估值，我们就会失败。至少我还没有找到一个基于收入的倍数来成功地将亚马逊与其他公司进行比较。但根据预期每股收益年增长率调整后的远期市盈率（下一财年）倍数使得找到合适的模型成为可能：</blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/97ac0310bcef622e12c8c21d46979f7e\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8d7573ff8a7fc00719a51042f09fc989\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>As you can see, judging by this multiple, Amazon is significantly undervalued.</i></p><p><blockquote><i>正如你所看到的，从这个倍数来看，亚马逊被严重低估了。</i></blockquote></p><p>#3 Discounted Cash Flow Model</p><p><blockquote>#3贴现现金流模型</blockquote></p><p>When predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:</p><p><blockquote>在预测亚马逊未来十年的收入时，我从分析师的平均预期出发：</blockquote></p><p><img src=\"https://static.tigerbbs.com/9f41298db73dbcd92469026cc4e767c4\" tg-width=\"640\" tg-height=\"323\" referrerpolicy=\"no-referrer\"><i>Source: Seeking Alpha Pro</i></p><p><blockquote><i>资料来源：寻求Alpha Pro</i></blockquote></p><p>When predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.</p><p><blockquote>在预测亚马逊营业利润率的动态时，我也从分析师对公司每股收益增长的预期出发，并考虑到税率逐渐提高到25%。在我看来，在终端年将营业利润率逐步提高到8%是一个非常现实的情况。</blockquote></p><p>Here is the calculation of the Weighted Average Cost of Capital:</p><p><blockquote>以下是加权平均资本成本的计算方法：</blockquote></p><p><img src=\"https://static.tigerbbs.com/759163398701e54efd7cfabd11a0867d\" tg-width=\"480\" tg-height=\"374\" referrerpolicy=\"no-referrer\"><i>Source: Author</i></p><p><blockquote><i>来源：作者</i></blockquote></p><p>Some explanations:</p><p><blockquote>一些解释：</blockquote></p><p><ul><li>In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).</li><li>I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.</li><li>To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.</li></ul>Here is the model itself:</p><p><blockquote><ul><li>为了计算市场回报率，我使用了equityriskpremium（4.72%）和UST10的当前收益率作为无风险利率（1.6%）。</li><li>我使用了三年贝塔系数的当前值（0.92）。在最后一年，我使用Beta等于1。</li><li>为了计算债务成本，我使用2019年和2020年的利息支出除以同年的债务价值。</li></ul>以下是模型本身：</blockquote></p><p><img src=\"https://static.tigerbbs.com/0df02bca01b3ef74d3b640d95eb00590\" tg-width=\"640\" tg-height=\"528\" referrerpolicy=\"no-referrer\">(In high resolution)</p><p><blockquote>（高分辨率）</blockquote></p><p><i>Source: Author</i></p><p><blockquote><i>来源：作者</i></blockquote></p><p><i>The DCF-based target price of Amazon's shares is $4,280, offering 29% upside.</i></p><p><blockquote><i>亚马逊股票基于DCF的目标价为4,280美元，上涨空间为29%。</i></blockquote></p><p>Final thoughts</p><p><blockquote>最后的想法</blockquote></p><p><ol><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.</li><li>The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company is<b>undervalued</b>.</li><li>Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company is<b>much cheaper</b>than the market.</li><li>DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.</li><li>When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,<i>it is better to invest in a company facing growth problems than aging problems</i>.</li></ol></p><p><blockquote><ol><li>亚马逊是增长尚未达到极限，甚至还没有进入平台期的公司之一。从某种意义上说，这是一家拥有730亿美元现金的初创公司。</li><li>亚马逊仍处于加速阶段的事实并不意味着其市值不断被低估。但在这种情况下，根据公司的资本化和收入参数之间的模式，我们可以得出结论，公司是<b>被低估</b>.</li><li>通过预期每股收益增长的棱镜将亚马逊与其他公司进行比较，必须承认该公司是<b>便宜多了</b>比市场。</li><li>基于平均预期的DCF模型分析师表示低估了30%。今年年初，类似的模型显示估值被低估了20%。</li><li>当你看亚马逊未来十年的收入预测时，你会意识到该公司将面临增长问题。但在我看来，<i>投资一家面临增长问题的公司比投资老龄化问题的公司更好</i>.</li></ol></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon: The Most Clearly Undervalued Company<blockquote>亚马逊：最明显被低估的公司</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon: The Most Clearly Undervalued Company<blockquote>亚马逊：最明显被低估的公司</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\">2021-05-07 12:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summary</p><p><blockquote>总结</blockquote></p><p><ul><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.</li><li>In terms of comparative valuation, AMZN is undervalued against the market.</li><li>DCF-based Amazon stock price target suggests 30% upside potential. But I think this is not even a basic scenario, but a pessimistic scenario.</li></ul>I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.</p><p><blockquote><ul><li>亚马逊是增长尚未达到极限，甚至还没有进入平台期的公司之一。</li><li>就比较估值而言，AMZN相对于市场被低估。</li><li>基于DCF的亚马逊股价目标显示30%的上涨潜力。但我认为这甚至不是一个基本的情景，而是一个悲观的情景。</li></ul>我根据上个季度的业绩对亚马逊（AMZN）进行了全面的分析。</blockquote></p><p>#1 Price vs. Growth</p><p><blockquote>#1价格与增长</blockquote></p><p>First of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.</p><p><blockquote>首先，我们来评估一下我们是否可以从统计数据上说明亚马逊上个季度的增长是加速还是放缓。为此，让我们比较一下有和没有过去四个季度业绩的公司关键部门的收入增长趋势。</blockquote></p><p>The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:</p><p><blockquote>“在线商店”部分的动态显示出质的突破。在不考虑过去四个季度的情况下，这里观察到了接近线性的趋势。现在，它已经成为指数级增长：</blockquote></p><p><img src=\"https://static.tigerbbs.com/bac49a9df0e5b978dc15e20bedfce3da\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Third-Party Seller Services' segment - the exponential growth continues:</p><p><blockquote>“第三方卖家服务”细分市场——指数级增长仍在继续：</blockquote></p><p><img src=\"https://static.tigerbbs.com/6b58df42726bc01c8a5e5c2940d0476d\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:</p><p><blockquote>“订阅服务”（Amazon Prime）细分市场——这里的加速仍然存在，上个季度的结果好于趋势：</blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The 'Other' (advertising services) segment has also showed a significant acceleration:<img src=\"https://static.tigerbbs.com/a58095394bdd79d561166a74942a9e55\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote>“其他”（广告服务）部门也显示出显着的加速：</blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>The growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:</p><p><blockquote>‘Amazon Web Services’的增长趋势有所放缓，但从上个季度的结果来看，有逐渐回归之前的趋势：</blockquote></p><p><img src=\"https://static.tigerbbs.com/07069ccaab37c32eed56da69881e7bce\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>Geographically, Amazon's revenue was also significantly better than the trend:</p><p><blockquote>从地域上看，亚马逊的营收也明显好于趋势：</blockquote></p><p><img src=\"https://static.tigerbbs.com/a1d9246e5c01aac6c62e49ad7cd73e2c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/0e7276161a3d2b2159ab3d727d3cb7d9\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>So, statistically, not subjectively, we should recognize the acceleration of the company's growth</i><i><b>in all key segments</b></i><i>. In my opinion, this is exactly what is expected from Amazon.</i></p><p><blockquote><i>因此，从统计上，而不是主观上，我们应该认识到公司增长的加速</i><i><b>在所有关键细分市场</b></i><i>.在我看来，这正是人们对亚马逊的期望。</i></blockquote></p><p>Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:</p><p><blockquote>更远地。在过去10年中，亚马逊的资本化与其收入呈定性线性关系：</blockquote></p><p><img src=\"https://static.tigerbbs.com/f105c314902d29dae4d0f0e400aa2245\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>There is also a certain influence of the company's revenue growth rate on its multiples:</p><p><blockquote>公司营收增速对其倍数也有一定影响：</blockquote></p><p><img src=\"https://static.tigerbbs.com/8beca01b5624a15aab79465c580ded6b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p>Based on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:</p><p><blockquote>基于这两种关系，并考虑到美国货币存量增长的影响，有可能建立另一个模型，使我们能够确定公司资本化的平衡水平。此外，该模型允许根据分析师当前对公司未来四个季度收入增长的预期来模拟公司资本的增长。这是这个模型：</blockquote></p><p><img src=\"https://static.tigerbbs.com/083fa1dc350e5e54cc7d3145744c9e4c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d63f0cff5e0dd83343d26ee90552a033\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>As you can see, firstly, this model indicates that the company's current price is already</i><i><b>below the balanced level</b></i><i>. And secondly, it assumes a</i><i><b>25% growth</b></i><i>in capitalization in the next four quarters.</i></p><p><blockquote><i>正如你所看到的，首先，这个模型表明公司当前的价格已经</i><i><b>低于平衡水平</b></i><i>其次，它假设</i><i><b>25%增长</b></i><i>未来四个季度的资本化。</i></blockquote></p><p>#2 Comparative Valuation</p><p><blockquote>#2比较估值</blockquote></p><p>In the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:</p><p><blockquote>在上一个模块中，我根据收入对亚马逊的均衡价格进行了建模。值得注意的是，如果我们用同样的方法使用倍数对公司进行比较估值，我们就会失败。至少我还没有找到一个基于收入的倍数来成功地将亚马逊与其他公司进行比较。但根据预期每股收益年增长率调整后的远期市盈率（下一财年）倍数使得找到合适的模型成为可能：</blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/97ac0310bcef622e12c8c21d46979f7e\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8d7573ff8a7fc00719a51042f09fc989\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><blockquote><i>资料来源：VisualizedAnalytics.com</i></blockquote></p><p><i>As you can see, judging by this multiple, Amazon is significantly undervalued.</i></p><p><blockquote><i>正如你所看到的，从这个倍数来看，亚马逊被严重低估了。</i></blockquote></p><p>#3 Discounted Cash Flow Model</p><p><blockquote>#3贴现现金流模型</blockquote></p><p>When predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:</p><p><blockquote>在预测亚马逊未来十年的收入时，我从分析师的平均预期出发：</blockquote></p><p><img src=\"https://static.tigerbbs.com/9f41298db73dbcd92469026cc4e767c4\" tg-width=\"640\" tg-height=\"323\" referrerpolicy=\"no-referrer\"><i>Source: Seeking Alpha Pro</i></p><p><blockquote><i>资料来源：寻求Alpha Pro</i></blockquote></p><p>When predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.</p><p><blockquote>在预测亚马逊营业利润率的动态时，我也从分析师对公司每股收益增长的预期出发，并考虑到税率逐渐提高到25%。在我看来，在终端年将营业利润率逐步提高到8%是一个非常现实的情况。</blockquote></p><p>Here is the calculation of the Weighted Average Cost of Capital:</p><p><blockquote>以下是加权平均资本成本的计算方法：</blockquote></p><p><img src=\"https://static.tigerbbs.com/759163398701e54efd7cfabd11a0867d\" tg-width=\"480\" tg-height=\"374\" referrerpolicy=\"no-referrer\"><i>Source: Author</i></p><p><blockquote><i>来源：作者</i></blockquote></p><p>Some explanations:</p><p><blockquote>一些解释：</blockquote></p><p><ul><li>In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).</li><li>I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.</li><li>To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.</li></ul>Here is the model itself:</p><p><blockquote><ul><li>为了计算市场回报率，我使用了equityriskpremium（4.72%）和UST10的当前收益率作为无风险利率（1.6%）。</li><li>我使用了三年贝塔系数的当前值（0.92）。在最后一年，我使用Beta等于1。</li><li>为了计算债务成本，我使用2019年和2020年的利息支出除以同年的债务价值。</li></ul>以下是模型本身：</blockquote></p><p><img src=\"https://static.tigerbbs.com/0df02bca01b3ef74d3b640d95eb00590\" tg-width=\"640\" tg-height=\"528\" referrerpolicy=\"no-referrer\">(In high resolution)</p><p><blockquote>（高分辨率）</blockquote></p><p><i>Source: Author</i></p><p><blockquote><i>来源：作者</i></blockquote></p><p><i>The DCF-based target price of Amazon's shares is $4,280, offering 29% upside.</i></p><p><blockquote><i>亚马逊股票基于DCF的目标价为4,280美元，上涨空间为29%。</i></blockquote></p><p>Final thoughts</p><p><blockquote>最后的想法</blockquote></p><p><ol><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.</li><li>The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company is<b>undervalued</b>.</li><li>Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company is<b>much cheaper</b>than the market.</li><li>DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.</li><li>When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,<i>it is better to invest in a company facing growth problems than aging problems</i>.</li></ol></p><p><blockquote><ol><li>亚马逊是增长尚未达到极限，甚至还没有进入平台期的公司之一。从某种意义上说，这是一家拥有730亿美元现金的初创公司。</li><li>亚马逊仍处于加速阶段的事实并不意味着其市值不断被低估。但在这种情况下，根据公司的资本化和收入参数之间的模式，我们可以得出结论，公司是<b>被低估</b>.</li><li>通过预期每股收益增长的棱镜将亚马逊与其他公司进行比较，必须承认该公司是<b>便宜多了</b>比市场。</li><li>基于平均预期的DCF模型分析师表示低估了30%。今年年初，类似的模型显示估值被低估了20%。</li><li>当你看亚马逊未来十年的收入预测时，你会意识到该公司将面临增长问题。但在我看来，<i>投资一家面临增长问题的公司比投资老龄化问题的公司更好</i>.</li></ol></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company\">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":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157328258","content_text":"SummaryAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.In terms of comparative valuation, AMZN is undervalued against the market.DCF-based Amazon stock price target suggests 30% upside potential. But I think this is not even a basic scenario, but a pessimistic scenario.I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.#1 Price vs. GrowthFirst of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:Source: VisualizedAnalytics.comThe 'Third-Party Seller Services' segment - the exponential growth continues:Source: VisualizedAnalytics.comThe 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:Source: VisualizedAnalytics.comThe 'Other' (advertising services) segment has also showed a significant acceleration:Source: VisualizedAnalytics.comThe growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:Source: VisualizedAnalytics.comGeographically, Amazon's revenue was also significantly better than the trend:Source: VisualizedAnalytics.comSo, statistically, not subjectively, we should recognize the acceleration of the company's growthin all key segments. In my opinion, this is exactly what is expected from Amazon.Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:Source: VisualizedAnalytics.comThere is also a certain influence of the company's revenue growth rate on its multiples:Source: VisualizedAnalytics.comBased on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:Source: VisualizedAnalytics.comAs you can see, firstly, this model indicates that the company's current price is alreadybelow the balanced level. And secondly, it assumes a25% growthin capitalization in the next four quarters.#2 Comparative ValuationIn the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:Source: VisualizedAnalytics.comAs you can see, judging by this multiple, Amazon is significantly undervalued.#3 Discounted Cash Flow ModelWhen predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:Source: Seeking Alpha ProWhen predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.Here is the calculation of the Weighted Average Cost of Capital:Source: AuthorSome explanations:In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.Here is the model itself:(In high resolution)Source: AuthorThe DCF-based target price of Amazon's shares is $4,280, offering 29% upside.Final thoughtsAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company isundervalued.Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company ismuch cheaperthan the market.DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,it is better to invest in a company facing growth problems than aging problems.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":1560,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374310980,"gmtCreate":1619417620640,"gmtModify":1634273638578,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577226353596605","authorIdStr":"3577226353596605"},"themes":[],"htmlText":"🤔🤔","listText":"🤔🤔","text":"🤔🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/374310980","repostId":"1184404050","repostType":4,"isVote":1,"tweetType":1,"viewCount":575,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358268169,"gmtCreate":1616700766351,"gmtModify":1634524498868,"author":{"id":"3577226353596605","authorId":"3577226353596605","name":"Kure","avatar":"https://static.tigerbbs.com/d884cb2a13cb073fbb3d239f8090478e","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577226353596605","authorIdStr":"3577226353596605"},"themes":[],"htmlText":"wow!","listText":"wow!","text":"wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/358268169","repostId":"1112798343","repostType":4,"repost":{"id":"1112798343","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":1616688349,"share":"https://www.laohu8.com/m/news/1112798343?lang=zh_CN&edition=full","pubTime":"2021-03-26 00:05","market":"us","language":"en","title":"China’s $6 Billion Social E-Commerce App Hires CFO as It Eyes US IPO<blockquote>中国价值60亿美元的社交电子商务应用聘请首席财务官，着眼于美国IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112798343","media":"Tiger Newspress","summary":"The list of Chinese tech firms heading to the public markets is getting longer. The latest to lay th","content":"<p>The list of Chinese tech firms heading to the public markets is getting longer. The latest to lay the groundwork for an initial public offering is Xiaohongshu, an Instagram-like social e-commerce platform. The company recently hired a chief financial officer and is considering going public in the U.S. as early as this year, according to people familiar with the matter,According to The information.</p><p><blockquote>走向公开市场的中国科技公司名单越来越长。最近为首次公开募股做铺垫的是类似Instagram的社交电商平台小红书。据知情人士透露，该公司最近聘请了一名首席财务官，并考虑最早于今年在美国上市。</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>China’s $6 Billion Social E-Commerce App Hires CFO as It Eyes US IPO<blockquote>中国价值60亿美元的社交电子商务应用聘请首席财务官，着眼于美国IPO</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\">\nChina’s $6 Billion Social E-Commerce App Hires CFO as It Eyes US IPO<blockquote>中国价值60亿美元的社交电子商务应用聘请首席财务官，着眼于美国IPO</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\">2021-03-26 00:05</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The list of Chinese tech firms heading to the public markets is getting longer. The latest to lay the groundwork for an initial public offering is Xiaohongshu, an Instagram-like social e-commerce platform. The company recently hired a chief financial officer and is considering going public in the U.S. as early as this year, according to people familiar with the matter,According to The information.</p><p><blockquote>走向公开市场的中国科技公司名单越来越长。最近为首次公开募股做铺垫的是类似Instagram的社交电商平台小红书。据知情人士透露，该公司最近聘请了一名首席财务官，并考虑最早于今年在美国上市。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YSG":"逸仙电商","MOGU":"蘑菇街"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112798343","content_text":"The list of Chinese tech firms heading to the public markets is getting longer. The latest to lay the groundwork for an initial public offering is Xiaohongshu, an Instagram-like social e-commerce platform. The company recently hired a chief financial officer and is considering going public in the U.S. as early as this year, according to people familiar with the matter,According to The information.","news_type":1,"symbols_score_info":{"YSG":0.9,"MOGU":0.9}},"isVote":1,"tweetType":1,"viewCount":411,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}