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2021-09-08

$AMC Entertainment(AMC)$share

2021-09-07

Great ariticle, would you like to share it?

Why AMC Stock Soared Almost 30% in August<blockquote>为什么AMC股价在8月份飙升近30%</blockquote>

2021-08-28

$NIO Inc.(NIO)$[喷血]

2021-08-28

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2021-08-27

$Palantir Technologies Inc.(PLTR)$[愤怒] [愤怒]

2021-08-12

$Palantir Technologies Inc.(PLTR)$[呆住]

2021-07-28

$Palantir Technologies Inc.(PLTR)$lol

2021-07-25

$Palantir Technologies Inc.(PLTR)$[龇牙] [流泪]

2021-07-25

[流泪]

2021-07-14

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2021-07-13

$Palantir Technologies Inc.(PLTR)$erm wtf

2021-07-12

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2021-07-09

$Palantir Technologies Inc.(PLTR)$[流泪]

2021-07-09

No buy

2021-07-07

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2021-07-03

Niceee

@zjings:$ARK Genomic Revolution Multi-Sector ETF(ARKG)$wa first time green!

2021-07-02

[开心] [开心]

2021-06-29

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2021-06-26

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2021-06-26

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href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>share","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>share","text":"$AMC Entertainment(AMC)$share","images":[{"img":"https://static.tigerbbs.com/3bb677829e0dffd5c8ee7e22316547ab","width":"1440","height":"4582"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/889184189","isVote":1,"tweetType":1,"viewCount":2169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":880159315,"gmtCreate":1631026568537,"gmtModify":1631890579563,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/880159315","repostId":"1126153718","repostType":4,"repost":{"id":"1126153718","kind":"news","pubTimestamp":1631025174,"share":"https://www.laohunote.com/m/news/1126153718?lang=zh_CN&edition=full","pubTime":"2021-09-07 22:32","market":"us","language":"en","title":"Why AMC Stock Soared Almost 30% in August<blockquote>为什么AMC股价在8月份飙升近30%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126153718","media":"Motley Fool","summary":"AMC jumped 7% in early trading Tuesday.\n\n\nThe meme stock may have gotten bids from investors actuall","content":"<p>AMC&nbsp;jumped&nbsp;7%&nbsp;in early trading&nbsp;Tuesday.</p><p><blockquote>AMC 周二早盘上涨 7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6b12c5f8f21e4c20fa9058564405114f\" tg-width=\"985\" tg-height=\"517\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p>   <b>The meme stock may have gotten bids from investors actually looking at the business itself.</b>  <b>Key Points</b></p><p><blockquote><b>模因股票可能已经收到了真正关注该业务本身的投资者的出价。</b><b>要点</b></blockquote></p><p> <ul>  <li>A record-breaking Labor Day weekend theater-only movie release gives shareholders a new reason for hope.</li> </ul> <b>What happened</b></p><p><blockquote><ul><li>一部破纪录的劳动节周末仅在影院上映的电影给了股东们一个新的希望理由。</li></ul><b>发生了什么事</b></blockquote></p><p> Meme stocks like<b>AMC Entertainment</b>(NYSE:AMC)have had quite a ride since the retail trading crowd initially drove share prices up earlier this year. After realizing exponential gains, AMC shares tumbled 40% from mid-June to late July as investors began questioning whether the delta variant would reverse progress in reopening the economy. But AMC shares regained those losses in August, rising 27.3%, according to data provided byS&amp;P Global Market Intelligence.</p><p><blockquote>模因股票喜欢<b>AMC院线</b>（纽约证券交易所股票代码：AMC）自今年早些时候散户交易人群最初推高股价以来，经历了相当大的发展。在实现指数级上涨后，AMC 股价从 6 月中旬到 7 月下旬暴跌 40%，因为投资者开始质疑德尔塔变异毒株是否会逆转经济重新开放的进展。但根据 S&amp;P Global Market Intelligence 提供的数据，AMC 股价在 8 月份收复了这些失地，上涨了 27.3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> AMC CEO Adam Aron has said that 80% of the company's shareholder base is now made up of retail investors. And Aron has worked to engage with those investors on social media and through the business itself.</p><p><blockquote>AMC 首席执行官亚当·阿伦 (Adam Aron) 表示，该公司 80% 的股东现在由散户投资者组成。Aron 一直致力于在社交媒体和业务本身上与这些投资者互动。</blockquote></p><p> The company has launched AMC Investor Connect, which gives shareholders exclusive offers for screenings and other perks. The company calls the program \"an innovative, proactive communication initiative that will put AMC in direct communication with its extraordinary base of enthusiastic and passionate individual shareholders.\"</p><p><blockquote>该公司推出了 AMC Investor Connect，为股东提供放映和其他福利的独家优惠。该公司评级该计划是“一项创新、主动的沟通举措，将使 AMC 与其热情洋溢的个人股东的非凡基础进行直接沟通。”</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p> AMC has also taken advantage of the higher share price to raise needed capital as it struggles to get its business back on track. But that has also burdened the company with $5.5 billion in debt as the movie business struggles to attract theatergoers at the same time that production companies are releasing some movies on streaming services along with theaters.</p><p><blockquote>AMC 还利用较高的股价筹集了所需的资金，以努力使业务重回正轨。但这也给该公司带来了55亿美元的债务负担，因为电影业务正在努力吸引影院观众，而制作公司正在与影院一起在流媒体服务上发行一些电影。</blockquote></p><p> Retail traders have now given AMC amarket capof about $23 billion. That's a lofty valuation as the company continues to report losses, including $344 million in the second quarter ended June 30. The company also had negative free cash flow of over $250 million in the period.</p><p><blockquote>零售商现已向 AMC amarket capof 提供了约 230 亿美元的资金。这是一个很高的估值，因为该公司继续报告亏损，包括截至 6 月 30 日的第二季度亏损 3.44 亿美元。该公司在此期间还出现了超过 2.5 亿美元的负自由现金流。</blockquote></p><p> But since that financial report was released on Aug. 9, shares are up 33%. That highlights the disconnect between the current underlying business and the company's valuation. But the meme stock crowd seems to dismiss a connection between the two. Barring a significant pivot in its business strategy, AMC needs movies and customers to head back to theaters.</p><p><blockquote>但自 8 月 9 日发布财务报告以来，股价已上涨 33%。这凸显了当前基础业务与公司估值之间的脱节。但是模因股票人群似乎忽略了两者之间的联系。除非其业务战略发生重大转变，否则 AMC 需要电影和观众重返影院。</blockquote></p><p> The recent Labor Day weekend may have also given shareholders new hope that the demise of the movie theater business is premature.<b>Walt Disney</b>'s<i>Shang-Chi&nbsp;and the Legend of the Ten Rings</i>was released only in theaters, and it smashed the prior record for the four-day weekend with $90 million in ticket sales in the U.S. and Canada. So maybe believers in AMC are right that the business can recover. But it has a long way to go to justify any valuation close to where it currently stands.</p><p><blockquote>最近的劳动节周末可能也给股东带来了新的希望，即电影院业务的消亡为时过早。<b>华特·迪士尼</b>的<i>尚气与十环传说</i>该片仅在影院上映，并在美国和加拿大以 9000 万美元的票房打破了四天周末的纪录。因此，也许 AMC 的信徒认为该业务可以复苏是正确的。但要证明任何接近目前水平的估值是合理的，还有很长的路要走。</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>Why AMC Stock Soared Almost 30% in August<blockquote>为什么AMC股价在8月份飙升近30%</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\">\nWhy AMC Stock Soared Almost 30% in August<blockquote>为什么AMC股价在8月份飙升近30%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-09-07 22:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>AMC&nbsp;jumped&nbsp;7%&nbsp;in early trading&nbsp;Tuesday.</p><p><blockquote>AMC 周二早盘上涨 7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6b12c5f8f21e4c20fa9058564405114f\" tg-width=\"985\" tg-height=\"517\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p>   <b>The meme stock may have gotten bids from investors actually looking at the business itself.</b>  <b>Key Points</b></p><p><blockquote><b>模因股票可能已经收到了真正关注该业务本身的投资者的出价。</b><b>要点</b></blockquote></p><p> <ul>  <li>A record-breaking Labor Day weekend theater-only movie release gives shareholders a new reason for hope.</li> </ul> <b>What happened</b></p><p><blockquote><ul><li>一部破纪录的劳动节周末仅在影院上映的电影给了股东们一个新的希望理由。</li></ul><b>发生了什么事</b></blockquote></p><p> Meme stocks like<b>AMC Entertainment</b>(NYSE:AMC)have had quite a ride since the retail trading crowd initially drove share prices up earlier this year. After realizing exponential gains, AMC shares tumbled 40% from mid-June to late July as investors began questioning whether the delta variant would reverse progress in reopening the economy. But AMC shares regained those losses in August, rising 27.3%, according to data provided byS&amp;P Global Market Intelligence.</p><p><blockquote>模因股票喜欢<b>AMC院线</b>（纽约证券交易所股票代码：AMC）自今年早些时候散户交易人群最初推高股价以来，经历了相当大的发展。在实现指数级上涨后，AMC 股价从 6 月中旬到 7 月下旬暴跌 40%，因为投资者开始质疑德尔塔变异毒株是否会逆转经济重新开放的进展。但根据 S&amp;P Global Market Intelligence 提供的数据，AMC 股价在 8 月份收复了这些失地，上涨了 27.3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> AMC CEO Adam Aron has said that 80% of the company's shareholder base is now made up of retail investors. And Aron has worked to engage with those investors on social media and through the business itself.</p><p><blockquote>AMC 首席执行官亚当·阿伦 (Adam Aron) 表示，该公司 80% 的股东现在由散户投资者组成。Aron 一直致力于在社交媒体和业务本身上与这些投资者互动。</blockquote></p><p> The company has launched AMC Investor Connect, which gives shareholders exclusive offers for screenings and other perks. The company calls the program \"an innovative, proactive communication initiative that will put AMC in direct communication with its extraordinary base of enthusiastic and passionate individual shareholders.\"</p><p><blockquote>该公司推出了 AMC Investor Connect，为股东提供放映和其他福利的独家优惠。该公司评级该计划是“一项创新、主动的沟通举措，将使 AMC 与其热情洋溢的个人股东的非凡基础进行直接沟通。”</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p> AMC has also taken advantage of the higher share price to raise needed capital as it struggles to get its business back on track. But that has also burdened the company with $5.5 billion in debt as the movie business struggles to attract theatergoers at the same time that production companies are releasing some movies on streaming services along with theaters.</p><p><blockquote>AMC 还利用较高的股价筹集了所需的资金，以努力使业务重回正轨。但这也给该公司带来了55亿美元的债务负担，因为电影业务正在努力吸引影院观众，而制作公司正在与影院一起在流媒体服务上发行一些电影。</blockquote></p><p> Retail traders have now given AMC amarket capof about $23 billion. That's a lofty valuation as the company continues to report losses, including $344 million in the second quarter ended June 30. The company also had negative free cash flow of over $250 million in the period.</p><p><blockquote>零售商现已向 AMC amarket capof 提供了约 230 亿美元的资金。这是一个很高的估值，因为该公司继续报告亏损，包括截至 6 月 30 日的第二季度亏损 3.44 亿美元。该公司在此期间还出现了超过 2.5 亿美元的负自由现金流。</blockquote></p><p> But since that financial report was released on Aug. 9, shares are up 33%. That highlights the disconnect between the current underlying business and the company's valuation. But the meme stock crowd seems to dismiss a connection between the two. Barring a significant pivot in its business strategy, AMC needs movies and customers to head back to theaters.</p><p><blockquote>但自 8 月 9 日发布财务报告以来，股价已上涨 33%。这凸显了当前基础业务与公司估值之间的脱节。但是模因股票人群似乎忽略了两者之间的联系。除非其业务战略发生重大转变，否则 AMC 需要电影和观众重返影院。</blockquote></p><p> The recent Labor Day weekend may have also given shareholders new hope that the demise of the movie theater business is premature.<b>Walt Disney</b>'s<i>Shang-Chi&nbsp;and the Legend of the Ten Rings</i>was released only in theaters, and it smashed the prior record for the four-day weekend with $90 million in ticket sales in the U.S. and Canada. So maybe believers in AMC are right that the business can recover. But it has a long way to go to justify any valuation close to where it currently stands.</p><p><blockquote>最近的劳动节周末可能也给股东带来了新的希望，即电影院业务的消亡为时过早。<b>华特·迪士尼</b>的<i>尚气与十环传说</i>该片仅在影院上映，并在美国和加拿大以 9000 万美元的票房打破了四天周末的纪录。因此，也许 AMC 的信徒认为该业务可以复苏是正确的。但要证明任何接近目前水平的估值是合理的，还有很长的路要走。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/09/07/why-amc-stock-soared-almost-30-in-august/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.fool.com/investing/2021/09/07/why-amc-stock-soared-almost-30-in-august/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126153718","content_text":"AMC jumped 7% in early trading Tuesday.\n\n\nThe meme stock may have gotten bids from investors actually looking at the business itself.\n\nKey Points\n\nA record-breaking Labor Day weekend theater-only movie release gives shareholders a new reason for hope.\n\nWhat happened\nMeme stocks likeAMC Entertainment(NYSE:AMC)have had quite a ride since the retail trading crowd initially drove share prices up earlier this year. After realizing exponential gains, AMC shares tumbled 40% from mid-June to late July as investors began questioning whether the delta variant would reverse progress in reopening the economy. But AMC shares regained those losses in August, rising 27.3%, according to data provided byS&P Global Market Intelligence.\nSo what\nAMC CEO Adam Aron has said that 80% of the company's shareholder base is now made up of retail investors. And Aron has worked to engage with those investors on social media and through the business itself.\nThe company has launched AMC Investor Connect, which gives shareholders exclusive offers for screenings and other perks. The company calls the program \"an innovative, proactive communication initiative that will put AMC in direct communication with its extraordinary base of enthusiastic and passionate individual shareholders.\"\nNow what\nAMC has also taken advantage of the higher share price to raise needed capital as it struggles to get its business back on track. But that has also burdened the company with $5.5 billion in debt as the movie business struggles to attract theatergoers at the same time that production companies are releasing some movies on streaming services along with theaters.\nRetail traders have now given AMC amarket capof about $23 billion. That's a lofty valuation as the company continues to report losses, including $344 million in the second quarter ended June 30. The company also had negative free cash flow of over $250 million in the period.\nBut since that financial report was released on Aug. 9, shares are up 33%. That highlights the disconnect between the current underlying business and the company's valuation. But the meme stock crowd seems to dismiss a connection between the two. Barring a significant pivot in its business strategy, AMC needs movies and customers to head back to theaters.\nThe recent Labor Day weekend may have also given shareholders new hope that the demise of the movie theater business is premature.Walt Disney'sShang-Chi and the Legend of the Ten Ringswas released only in theaters, and it smashed the prior record for the four-day weekend with $90 million in ticket sales in the U.S. and Canada. So maybe believers in AMC are right that the business can recover. 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[财迷]","images":[{"img":"https://static.tigerbbs.com/748dd82d5c8bdbf93dcaf73397e667d8","width":"1440","height":"4571"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159307938","isVote":1,"tweetType":1,"viewCount":1788,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":124916797,"gmtCreate":1624718376419,"gmtModify":1631893680729,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"[无语]&nbsp;","listText":"[无语]&nbsp;","text":"[无语]","images":[{"img":"https://static.tigerbbs.com/efeb2ce55f15a49f858ee7d50ed87151","width":"1440","height":"4703"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124916797","isVote":1,"tweetType":1,"viewCount":880,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":124918132,"gmtCreate":1624718116826,"gmtModify":1631893680733,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"Whee","listText":"Whee","text":"Whee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/124918132","repostId":"1108941456","repostType":4,"isVote":1,"tweetType":1,"viewCount":697,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":109529592,"gmtCreate":1619705858616,"gmtModify":1634210555528,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"Izzit can buy","listText":"Izzit can buy","text":"Izzit can buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/109529592","repostId":"1169827391","repostType":4,"repost":{"id":"1169827391","kind":"news","pubTimestamp":1619664680,"share":"https://www.laohunote.com/m/news/1169827391?lang=zh_CN&edition=full","pubTime":"2021-04-29 10:51","market":"us","language":"en","title":"Amazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169827391","media":"Barrons","summary":"Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stell","content":"<p>Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stellar fourth-quarter results that were overshadowed by the news that CEO Jeff Bezos will shift into the role of&nbsp; executive chairman, with Amazon Web Services chief Andy Jassy taking over the top slot.</p><p><blockquote>自从这家电子商务和云计算巨头公布出色的第四季度业绩以来，亚马逊的股价几乎没有变化，但首席执行官杰夫·贝索斯 (Jeff Bezos) 将转任执行主席一职，亚马逊网络服务首席执行官安迪·贾西 (Andy Jassy) 将接任执行主席一职的消息给这一消息蒙上了阴影。</blockquote></p><p> The combination of that pending change, along with uncertainty over how the reopening of the economy will affect shopping behavior, has some investors a little uneasy about the stock’s near-term prospects.</p><p><blockquote>这一悬而未决的变化，再加上经济重新开放将如何影响购物行为的不确定性，让一些投资者对该股的近期前景有些不安。</blockquote></p><p> They will get a fresh look at the situation after the close of trading on Thursday, when Amazon (ticker: AMZN) posts its results for the March quarter. Amazon has told investors to expect revenue of $100 billion to $106 billion, with operating income of between $3 billion and $6.5 billion, and about $2 billion in costs related to Covid-19. The Wall Street consensus calls for revenue of $104.5 billion, with profits of $9.54 a share.</p><p><blockquote>他们将在周四收盘后重新审视形势，届时亚马逊（股票代码：AMZN）将公布三月份季度的业绩。亚马逊告诉投资者，预计营收为1000亿至1060亿美元，经营利润在30亿至65亿美元之间，与Covid-19相关的成本约为20亿美元。华尔街一致认为评级营收为 1045 亿美元，每股收益为 9.54 美元。</blockquote></p><p> The Street also clearly expects the quarter’s results to show continued strength in e-commerce. According to FactSet, Wall Street analysts expect online-stores revenue of $51.5 billion, up 41% from a year ago, with third-party sales of $21.7 billion, up 50%. Subscription revenues are expected to be $7.3 billion, up 32%, while revenue from physical stores is expected to be $4.3 billion, down 8%. AWS revenues are projected at $13.2 billion, up 29%.</p><p><blockquote>华尔街还显然预计本季度的业绩将显示电子商务的持续强劲势头。根据FactSet的数据，华尔街分析师预计在线商店收入为515亿美元，同比增长41%，第三方销售额为217亿美元，同比增长50%。订阅收入预计为73亿美元，增长32%，实体店收入预计为43亿美元，下降8%。AWS 收入预计为 132 亿美元，增长 29%。</blockquote></p><p> One open question is what forecasts the company will make for the June quarter as parts of the country begin to return to more normal economic activity. The Street is projecting June quarter revenue of $108.7 billion and profits of $10.81 a share.</p><p><blockquote>一个悬而未决的问题是，随着该国部分地区开始恢复正常的经济活动，该公司将对 6 月份季度做出什么预测。华尔街预计 6 月份季度营收为 1,087 亿美元，每股利润为 10.81 美元。</blockquote></p><p> In an earnings preview note, Truist analyst Youssef Squali&nbsp;reiterated a Buy rating on the stock and a target of $3,750 for the share price. The stock closed Tuesday at $3,417.43, up 4.9% year to date.</p><p><blockquote>Truist 分析师 Youssef Squali 在一份收益预览报告中重申了该股的买入评级，并将股价目标定为 3,750 美元。该股周二收于 3,417.43 美元，今年迄今上涨 4.9%。</blockquote></p><p> He expects revenue to come in at the high end of the range Amazon predicted, saying e-commerce demand has remained strong both in the U.S. and internationally, given that the pandemic has been slow to subside. Conversations with people in the industry and strong earning disclosed last week by Snap bode well for Amazon’s ad business, which is lumped into a category called “other,” he wrote. He also thinks the market continues to underestimate the long-term growth potential of the dominance of the company’s two key businesses—e-commerce and AWS—as well as the company’s “emerging leadership in online advertising.”</p><p><blockquote>他预计收入将达到亚马逊预测范围的高端，并表示鉴于疫情缓慢消退，美国和国际上的电子商务需求仍然强劲。他写道，与业内人士的交谈以及Snap上周披露的强劲盈利对亚马逊的广告业务来说是个好兆头，亚马逊的广告业务被归为 “其他 ”一类。他还认为，市场继续低估了公司两大关键业务--电子商务和 AWS--的主导地位，以及公司 “在在线广告领域的新兴领导地位 ”的长期增长潜力。</blockquote></p><p> Stifel analyst Scott Devitt&nbsp;is similarly bullish, repeating a Buy rating and $4,000 target price. He sees 40% top-line growth, a little ahead of the Street consensus. “The focus on the report will largely center on the outlook as Amazon laps the difficult prior year compares from the onset of the pandemic,” he wrote in a research note.</p><p><blockquote>Stifel 分析师 Scott Devitt 也同样乐观，重申了买入评级和 4,000 美元的目标价。他预计营收增长 40%，略高于华尔街的共识。“他在一份研究报告中写道：”与大流行病爆发以来的前一年相比，亚马逊将在很大程度上关注前景。</blockquote></p><p> “Growth in a post-Covid environment remains largely uncertain for Amazon and across the e-commerce landscape,” Devitt said. “Our [June quarter] revenue estimates are ahead of consensus as we see tailwinds stemming from strong growth in new Prime members and diversification across geographies and categories supporting the retail business as economies recover.” He also said AWS and the ad business are well positioned for a recovery.</p><p><blockquote>“德维特说：”在后科维德环境下，亚马逊和整个电子商务领域的增长在很大程度上仍然不确定。“随着经济复苏，我们看到 Prime 新会员的强劲增长以及跨地域和品类的多元化将为零售业务提供支持，因此我们（6 月份季度）的收入预期领先于市场共识。”他还表示，AWS 和广告业务已做好复苏准备。</blockquote></p><p> Wedbush analyst Michael Pachter likewise maintained an Outperform rating and $4,000 target. He thinks the company will post more revenue and operating income than it had forecast, an outperformance resulting from market-share gains in e-commerce.&nbsp;</p><p><blockquote>Wedbush 分析师 Michael Pachter 同样维持跑赢大盘评级和 4,000 美元目标。他认为该公司的收入和经营利润将超出预期，这一优异表现得益于电子商务的市场份额增长。</blockquote></p><p> “We believe that a more stable economy, continued imposition of shelter-in-place orders in many of Amazon’s markets, continued expansion into the very large grocery segment, and outstanding execution likely drove strong results in Q1,” he said. “In addition, Amazon Pharmacy (launched February 2) represents a U.S. [addressable market] of around $600 billion, so any market share gains could provide further upside.”</p><p><blockquote>“他说：”我们相信，更稳定的经济、亚马逊许多市场继续实施就地避难订单、向超大型杂货市场的持续扩张以及出色的执行力可能会推动第一季度的强劲业绩。“此外，亚马逊药房（2 月 2 日推出）在美国的[潜在市场]约为 6000 亿美元，因此任何市场份额的增长都可能带来进一步的上涨空间。”</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Earnings Will Be Fantastic. What That Means for the Stock.<blockquote>亚马逊的盈利将会非常出色。这对股票意味着什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-29 10:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stellar fourth-quarter results that were overshadowed by the news that CEO Jeff Bezos will shift into the role of&nbsp; executive chairman, with Amazon Web Services chief Andy Jassy taking over the top slot.</p><p><blockquote>自从这家电子商务和云计算巨头公布出色的第四季度业绩以来，亚马逊的股价几乎没有变化，但首席执行官杰夫·贝索斯 (Jeff Bezos) 将转任执行主席一职，亚马逊网络服务首席执行官安迪·贾西 (Andy Jassy) 将接任执行主席一职的消息给这一消息蒙上了阴影。</blockquote></p><p> The combination of that pending change, along with uncertainty over how the reopening of the economy will affect shopping behavior, has some investors a little uneasy about the stock’s near-term prospects.</p><p><blockquote>这一悬而未决的变化，再加上经济重新开放将如何影响购物行为的不确定性，让一些投资者对该股的近期前景有些不安。</blockquote></p><p> They will get a fresh look at the situation after the close of trading on Thursday, when Amazon (ticker: AMZN) posts its results for the March quarter. Amazon has told investors to expect revenue of $100 billion to $106 billion, with operating income of between $3 billion and $6.5 billion, and about $2 billion in costs related to Covid-19. The Wall Street consensus calls for revenue of $104.5 billion, with profits of $9.54 a share.</p><p><blockquote>他们将在周四收盘后重新审视形势，届时亚马逊（股票代码：AMZN）将公布三月份季度的业绩。亚马逊告诉投资者，预计营收为1000亿至1060亿美元，经营利润在30亿至65亿美元之间，与Covid-19相关的成本约为20亿美元。华尔街一致认为评级营收为 1045 亿美元，每股收益为 9.54 美元。</blockquote></p><p> The Street also clearly expects the quarter’s results to show continued strength in e-commerce. According to FactSet, Wall Street analysts expect online-stores revenue of $51.5 billion, up 41% from a year ago, with third-party sales of $21.7 billion, up 50%. Subscription revenues are expected to be $7.3 billion, up 32%, while revenue from physical stores is expected to be $4.3 billion, down 8%. AWS revenues are projected at $13.2 billion, up 29%.</p><p><blockquote>华尔街还显然预计本季度的业绩将显示电子商务的持续强劲势头。根据FactSet的数据，华尔街分析师预计在线商店收入为515亿美元，同比增长41%，第三方销售额为217亿美元，同比增长50%。订阅收入预计为73亿美元，增长32%，实体店收入预计为43亿美元，下降8%。AWS 收入预计为 132 亿美元，增长 29%。</blockquote></p><p> One open question is what forecasts the company will make for the June quarter as parts of the country begin to return to more normal economic activity. The Street is projecting June quarter revenue of $108.7 billion and profits of $10.81 a share.</p><p><blockquote>一个悬而未决的问题是，随着该国部分地区开始恢复正常的经济活动，该公司将对 6 月份季度做出什么预测。华尔街预计 6 月份季度营收为 1,087 亿美元，每股利润为 10.81 美元。</blockquote></p><p> In an earnings preview note, Truist analyst Youssef Squali&nbsp;reiterated a Buy rating on the stock and a target of $3,750 for the share price. The stock closed Tuesday at $3,417.43, up 4.9% year to date.</p><p><blockquote>Truist 分析师 Youssef Squali 在一份收益预览报告中重申了该股的买入评级，并将股价目标定为 3,750 美元。该股周二收于 3,417.43 美元，今年迄今上涨 4.9%。</blockquote></p><p> He expects revenue to come in at the high end of the range Amazon predicted, saying e-commerce demand has remained strong both in the U.S. and internationally, given that the pandemic has been slow to subside. Conversations with people in the industry and strong earning disclosed last week by Snap bode well for Amazon’s ad business, which is lumped into a category called “other,” he wrote. He also thinks the market continues to underestimate the long-term growth potential of the dominance of the company’s two key businesses—e-commerce and AWS—as well as the company’s “emerging leadership in online advertising.”</p><p><blockquote>他预计收入将达到亚马逊预测范围的高端，并表示鉴于疫情缓慢消退，美国和国际上的电子商务需求仍然强劲。他写道，与业内人士的交谈以及Snap上周披露的强劲盈利对亚马逊的广告业务来说是个好兆头，亚马逊的广告业务被归为 “其他 ”一类。他还认为，市场继续低估了公司两大关键业务--电子商务和 AWS--的主导地位，以及公司 “在在线广告领域的新兴领导地位 ”的长期增长潜力。</blockquote></p><p> Stifel analyst Scott Devitt&nbsp;is similarly bullish, repeating a Buy rating and $4,000 target price. He sees 40% top-line growth, a little ahead of the Street consensus. “The focus on the report will largely center on the outlook as Amazon laps the difficult prior year compares from the onset of the pandemic,” he wrote in a research note.</p><p><blockquote>Stifel 分析师 Scott Devitt 也同样乐观，重申了买入评级和 4,000 美元的目标价。他预计营收增长 40%，略高于华尔街的共识。“他在一份研究报告中写道：”与大流行病爆发以来的前一年相比，亚马逊将在很大程度上关注前景。</blockquote></p><p> “Growth in a post-Covid environment remains largely uncertain for Amazon and across the e-commerce landscape,” Devitt said. “Our [June quarter] revenue estimates are ahead of consensus as we see tailwinds stemming from strong growth in new Prime members and diversification across geographies and categories supporting the retail business as economies recover.” He also said AWS and the ad business are well positioned for a recovery.</p><p><blockquote>“德维特说：”在后科维德环境下，亚马逊和整个电子商务领域的增长在很大程度上仍然不确定。“随着经济复苏，我们看到 Prime 新会员的强劲增长以及跨地域和品类的多元化将为零售业务提供支持，因此我们（6 月份季度）的收入预期领先于市场共识。”他还表示，AWS 和广告业务已做好复苏准备。</blockquote></p><p> Wedbush analyst Michael Pachter likewise maintained an Outperform rating and $4,000 target. He thinks the company will post more revenue and operating income than it had forecast, an outperformance resulting from market-share gains in e-commerce.&nbsp;</p><p><blockquote>Wedbush 分析师 Michael Pachter 同样维持跑赢大盘评级和 4,000 美元目标。他认为该公司的收入和经营利润将超出预期，这一优异表现得益于电子商务的市场份额增长。</blockquote></p><p> “We believe that a more stable economy, continued imposition of shelter-in-place orders in many of Amazon’s markets, continued expansion into the very large grocery segment, and outstanding execution likely drove strong results in Q1,” he said. “In addition, Amazon Pharmacy (launched February 2) represents a U.S. [addressable market] of around $600 billion, so any market share gains could provide further upside.”</p><p><blockquote>“他说：”我们相信，更稳定的经济、亚马逊许多市场继续实施就地避难订单、向超大型杂货市场的持续扩张以及出色的执行力可能会推动第一季度的强劲业绩。“此外，亚马逊药房（2 月 2 日推出）在美国的[潜在市场]约为 6000 亿美元，因此任何市场份额的增长都可能带来进一步的上涨空间。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/amazon-is-likely-to-post-blowout-profits-the-question-is-what-follows-51619556363?mod=hp_LEADSUPP_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.barrons.com/articles/amazon-is-likely-to-post-blowout-profits-the-question-is-what-follows-51619556363?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169827391","content_text":"Stock in Amazon.com has barely budged since the e-commerce and cloud- computing giant reported stellar fourth-quarter results that were overshadowed by the news that CEO Jeff Bezos will shift into the role of  executive chairman, with Amazon Web Services chief Andy Jassy taking over the top slot.\nThe combination of that pending change, along with uncertainty over how the reopening of the economy will affect shopping behavior, has some investors a little uneasy about the stock’s near-term prospects.\nThey will get a fresh look at the situation after the close of trading on Thursday, when Amazon (ticker: AMZN) posts its results for the March quarter. Amazon has told investors to expect revenue of $100 billion to $106 billion, with operating income of between $3 billion and $6.5 billion, and about $2 billion in costs related to Covid-19. The Wall Street consensus calls for revenue of $104.5 billion, with profits of $9.54 a share.\nThe Street also clearly expects the quarter’s results to show continued strength in e-commerce. According to FactSet, Wall Street analysts expect online-stores revenue of $51.5 billion, up 41% from a year ago, with third-party sales of $21.7 billion, up 50%. Subscription revenues are expected to be $7.3 billion, up 32%, while revenue from physical stores is expected to be $4.3 billion, down 8%. AWS revenues are projected at $13.2 billion, up 29%.\nOne open question is what forecasts the company will make for the June quarter as parts of the country begin to return to more normal economic activity. The Street is projecting June quarter revenue of $108.7 billion and profits of $10.81 a share.\nIn an earnings preview note, Truist analyst Youssef Squali reiterated a Buy rating on the stock and a target of $3,750 for the share price. The stock closed Tuesday at $3,417.43, up 4.9% year to date.\nHe expects revenue to come in at the high end of the range Amazon predicted, saying e-commerce demand has remained strong both in the U.S. and internationally, given that the pandemic has been slow to subside. Conversations with people in the industry and strong earning disclosed last week by Snap bode well for Amazon’s ad business, which is lumped into a category called “other,” he wrote. He also thinks the market continues to underestimate the long-term growth potential of the dominance of the company’s two key businesses—e-commerce and AWS—as well as the company’s “emerging leadership in online advertising.”\nStifel analyst Scott Devitt is similarly bullish, repeating a Buy rating and $4,000 target price. He sees 40% top-line growth, a little ahead of the Street consensus. “The focus on the report will largely center on the outlook as Amazon laps the difficult prior year compares from the onset of the pandemic,” he wrote in a research note.\n“Growth in a post-Covid environment remains largely uncertain for Amazon and across the e-commerce landscape,” Devitt said. “Our [June quarter] revenue estimates are ahead of consensus as we see tailwinds stemming from strong growth in new Prime members and diversification across geographies and categories supporting the retail business as economies recover.” He also said AWS and the ad business are well positioned for a recovery.\nWedbush analyst Michael Pachter likewise maintained an Outperform rating and $4,000 target. He thinks the company will post more revenue and operating income than it had forecast, an outperformance resulting from market-share gains in e-commerce. \n“We believe that a more stable economy, continued imposition of shelter-in-place orders in many of Amazon’s markets, continued expansion into the very large grocery segment, and outstanding execution likely drove strong results in Q1,” he said. “In addition, Amazon Pharmacy (launched February 2) represents a U.S. [addressable market] of around $600 billion, so any market share gains could provide further upside.”","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":572,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371067287,"gmtCreate":1618893777249,"gmtModify":1634290079323,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>maila maila keep dropping","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>maila maila keep dropping","text":"$Palantir Technologies Inc.(PLTR)$maila maila keep dropping","images":[{"img":"https://static.tigerbbs.com/22b2b8831134291cc6055ffb308a0d3d","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":2,"link":"https://laohu8.com/post/371067287","isVote":1,"tweetType":1,"viewCount":815,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":122799209,"gmtCreate":1624632261301,"gmtModify":1631893680736,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"oh","listText":"oh","text":"oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/122799209","repostId":"1119873823","repostType":4,"repost":{"id":"1119873823","kind":"news","pubTimestamp":1624631360,"share":"https://www.laohunote.com/m/news/1119873823?lang=zh_CN&edition=full","pubTime":"2021-06-25 22:29","market":"us","language":"en","title":"What's The Fed Doing With Its Taper Talk?<blockquote>美联储的缩减规模谈话在做什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119873823","media":"zerohedge","summary":"Some Fed governors are talking about hiking, some tapering, some like Powell and Williams suggesting","content":"<p>Some Fed governors are talking about hiking, some tapering, some like Powell and Williams suggesting anything is a log ways off. What's going on?</p><p><blockquote>一些美联储理事正在谈论加息，一些人正在谈论缩减规模，一些人，如鲍威尔和威廉姆斯，暗示任何事情都是遥不可及的。怎么回事？</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0140cd3568611760c7ee2150dba967c0\" tg-width=\"500\" tg-height=\"333\"></p><p><blockquote></blockquote></p><p> <u><b>When Does It End?</b></u></p><p><blockquote><u><b>什么时候结束？</b></u></blockquote></p><p> A reader asked \"<i>When Does It End?</i>\" in response to&nbsp;Real Interest Rates Are More Negative Now Than In the 2004-2007 Housing Boom.</p><p><blockquote>一位读者问“<i>什么时候结束？</i>“作为回应，现在的实际利率比2004-2007年房地产繁荣时期更为负。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1d8103f974d2907ef41968b5da346f9f\" tg-width=\"510\" tg-height=\"816\"></p><p><blockquote></blockquote></p><p> \"<i>So the question is when does it end? The Fed has to raise interest rates for asset deflation to start</i>.\"</p><p><blockquote>\"<i>所以问题是什么时候结束？美联储必须加息才能开始资产通缩</i>.\"</blockquote></p><p> <u><b>Attitudes Baby! Attitudes!</b></u></p><p><blockquote><u><b>态度宝贝!态度!</b></u></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e5907ac1eadb9074c35f9ed930f268d\" tg-width=\"509\" tg-height=\"778\"></p><p><blockquote></blockquote></p><p> Recall that in 2006 people stood in lines for the right to enter a lottery to buy a condo to no lines 1 week later.&nbsp;What changed?&nbsp;Attitudes!</p><p><blockquote>回想一下，2006年，人们排队等待参加抽签购买公寓的权利，一周后就没有排队了。什么变化了？态度!</blockquote></p><p> <u><b>Real or Fake?</b></u></p><p><blockquote><u><b>真的假的？</b></u></blockquote></p><p> Various Fed governors differing opinions could be real or fake. It's impossible to know what they really think.</p><p><blockquote>多位美联储理事的不同意见可能是真的，也可能是假的。不可能知道他们的真实想法。</blockquote></p><p> Do note that most of those presidents seeing action sooner rather than later are non-voting Fed members now (voting rotates except for the Chair, Vice-Chair, and the New York Fed President).</p><p><blockquote>请注意，大多数早早看到行动的总统现在都是没有投票权的美联储成员（除了主席、副主席和纽约联储主席，投票是轮流的）。</blockquote></p><p> The Vice-Chair has been silent, but Chair Jerome Powell and New York Fed President say \"Fed’s Rate Liftoff Still Way Off in the Future\".</p><p><blockquote>副主席一直保持沉默，但主席杰罗姆-鲍威尔（Jerome Powell）和纽约联储主席表示，“美联储未来加息还有很长的路要走”。</blockquote></p><p> <u><b>Talk is Cheap</b></u></p><p><blockquote><u><b>谈话很便宜</b></u></blockquote></p><p> Talk is cheap, especially when you don't even get a vote.</p><p><blockquote>空谈是廉价的，尤其是当你连一票都得不到的时候。</blockquote></p><p> Non-voting Fed members are mentally preparing you for hikes without having to actually go on record voting for them.</p><p><blockquote>没有投票权的美联储成员正在为你的加息做好心理准备，而不必实际为他们进行记录投票。</blockquote></p><p> Meanwhile, two of the three votes that matter most are telling us hikes are far off.&nbsp;Is the third silent on purpose to wave the correct flag later?</p><p><blockquote>与此同时，最重要的三张选票中有两张告诉我们，加息还很遥远。第三个沉默是故意稍后挥舞正确的旗帜吗？</blockquote></p><p> <b><i>You can believe this is happenstance or not, but the impact is all about attitudes, mainly adjusting yours!</i></b></p><p><blockquote><b><i>你可以相信这是偶然或不是，但影响完全是态度，主要是调整你的态度!</i></b></blockquote></p><p> Regardless, the Fed can only influence attitudes, it cannot control them. If the masses decide for any reason to dump stocks, they will. Meanwhile, attempts to prevent that are what it's all about.</p><p><blockquote>无论如何，美联储只能影响态度，无法控制态度。如果群众出于任何原因决定抛售股票，他们会的。与此同时，试图阻止这种情况才是关键所在。</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>What's The Fed Doing With Its Taper Talk?<blockquote>美联储的缩减规模谈话在做什么？</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\">\nWhat's The Fed Doing With Its Taper Talk?<blockquote>美联储的缩减规模谈话在做什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-06-25 22:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Some Fed governors are talking about hiking, some tapering, some like Powell and Williams suggesting anything is a log ways off. What's going on?</p><p><blockquote>一些美联储理事正在谈论加息，一些人正在谈论缩减规模，一些人，如鲍威尔和威廉姆斯，暗示任何事情都是遥不可及的。怎么回事？</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0140cd3568611760c7ee2150dba967c0\" tg-width=\"500\" tg-height=\"333\"></p><p><blockquote></blockquote></p><p> <u><b>When Does It End?</b></u></p><p><blockquote><u><b>什么时候结束？</b></u></blockquote></p><p> A reader asked \"<i>When Does It End?</i>\" in response to&nbsp;Real Interest Rates Are More Negative Now Than In the 2004-2007 Housing Boom.</p><p><blockquote>一位读者问“<i>什么时候结束？</i>“作为回应，现在的实际利率比2004-2007年房地产繁荣时期更为负。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1d8103f974d2907ef41968b5da346f9f\" tg-width=\"510\" tg-height=\"816\"></p><p><blockquote></blockquote></p><p> \"<i>So the question is when does it end? The Fed has to raise interest rates for asset deflation to start</i>.\"</p><p><blockquote>\"<i>所以问题是什么时候结束？美联储必须加息才能开始资产通缩</i>.\"</blockquote></p><p> <u><b>Attitudes Baby! Attitudes!</b></u></p><p><blockquote><u><b>态度宝贝!态度!</b></u></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e5907ac1eadb9074c35f9ed930f268d\" tg-width=\"509\" tg-height=\"778\"></p><p><blockquote></blockquote></p><p> Recall that in 2006 people stood in lines for the right to enter a lottery to buy a condo to no lines 1 week later.&nbsp;What changed?&nbsp;Attitudes!</p><p><blockquote>回想一下，2006年，人们排队等待参加抽签购买公寓的权利，一周后就没有排队了。什么变化了？态度!</blockquote></p><p> <u><b>Real or Fake?</b></u></p><p><blockquote><u><b>真的假的？</b></u></blockquote></p><p> Various Fed governors differing opinions could be real or fake. It's impossible to know what they really think.</p><p><blockquote>多位美联储理事的不同意见可能是真的，也可能是假的。不可能知道他们的真实想法。</blockquote></p><p> Do note that most of those presidents seeing action sooner rather than later are non-voting Fed members now (voting rotates except for the Chair, Vice-Chair, and the New York Fed President).</p><p><blockquote>请注意，大多数早早看到行动的总统现在都是没有投票权的美联储成员（除了主席、副主席和纽约联储主席，投票是轮流的）。</blockquote></p><p> The Vice-Chair has been silent, but Chair Jerome Powell and New York Fed President say \"Fed’s Rate Liftoff Still Way Off in the Future\".</p><p><blockquote>副主席一直保持沉默，但主席杰罗姆-鲍威尔（Jerome Powell）和纽约联储主席表示，“美联储未来加息还有很长的路要走”。</blockquote></p><p> <u><b>Talk is Cheap</b></u></p><p><blockquote><u><b>谈话很便宜</b></u></blockquote></p><p> Talk is cheap, especially when you don't even get a vote.</p><p><blockquote>空谈是廉价的，尤其是当你连一票都得不到的时候。</blockquote></p><p> Non-voting Fed members are mentally preparing you for hikes without having to actually go on record voting for them.</p><p><blockquote>没有投票权的美联储成员正在为你的加息做好心理准备，而不必实际为他们进行记录投票。</blockquote></p><p> Meanwhile, two of the three votes that matter most are telling us hikes are far off.&nbsp;Is the third silent on purpose to wave the correct flag later?</p><p><blockquote>与此同时，最重要的三张选票中有两张告诉我们，加息还很遥远。第三个沉默是故意稍后挥舞正确的旗帜吗？</blockquote></p><p> <b><i>You can believe this is happenstance or not, but the impact is all about attitudes, mainly adjusting yours!</i></b></p><p><blockquote><b><i>你可以相信这是偶然或不是，但影响完全是态度，主要是调整你的态度!</i></b></blockquote></p><p> Regardless, the Fed can only influence attitudes, it cannot control them. If the masses decide for any reason to dump stocks, they will. Meanwhile, attempts to prevent that are what it's all about.</p><p><blockquote>无论如何，美联储只能影响态度，无法控制态度。如果群众出于任何原因决定抛售股票，他们会的。与此同时，试图阻止这种情况才是关键所在。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/economics/whats-fed-doing-its-taper-talk?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/economics/whats-fed-doing-its-taper-talk?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119873823","content_text":"Some Fed governors are talking about hiking, some tapering, some like Powell and Williams suggesting anything is a log ways off. What's going on?\n\nWhen Does It End?\nA reader asked \"When Does It End?\" in response to Real Interest Rates Are More Negative Now Than In the 2004-2007 Housing Boom.\n\n\"So the question is when does it end? The Fed has to raise interest rates for asset deflation to start.\"\nAttitudes Baby! Attitudes!\n\nRecall that in 2006 people stood in lines for the right to enter a lottery to buy a condo to no lines 1 week later. What changed? Attitudes!\nReal or Fake?\nVarious Fed governors differing opinions could be real or fake. It's impossible to know what they really think.\nDo note that most of those presidents seeing action sooner rather than later are non-voting Fed members now (voting rotates except for the Chair, Vice-Chair, and the New York Fed President).\nThe Vice-Chair has been silent, but Chair Jerome Powell and New York Fed President say \"Fed’s Rate Liftoff Still Way Off in the Future\".\nTalk is Cheap\nTalk is cheap, especially when you don't even get a vote.\nNon-voting Fed members are mentally preparing you for hikes without having to actually go on record voting for them.\nMeanwhile, two of the three votes that matter most are telling us hikes are far off. Is the third silent on purpose to wave the correct flag later?\nYou can believe this is happenstance or not, but the impact is all about attitudes, mainly adjusting yours!\nRegardless, the Fed can only influence attitudes, it cannot control them. If the masses decide for any reason to dump stocks, they will. Meanwhile, attempts to prevent that are what it's all about.","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100591481,"gmtCreate":1619620027043,"gmtModify":1634211273696,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"I is worried abit hahaha","listText":"I is worried abit hahaha","text":"I is worried abit hahaha","images":[{"img":"https://static.tigerbbs.com/51d8046e958a41fffb1a54dbd570d769","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/100591481","isVote":1,"tweetType":1,"viewCount":654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":110281172,"gmtCreate":1622459518596,"gmtModify":1634101338167,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"Buyyy","listText":"Buyyy","text":"Buyyy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/110281172","repostId":"1180491418","repostType":4,"repost":{"id":"1180491418","kind":"news","pubTimestamp":1622458949,"share":"https://www.laohunote.com/m/news/1180491418?lang=zh_CN&edition=full","pubTime":"2021-05-31 19:02","market":"us","language":"en","title":"Tech stocks are out of favor — 5 reasons to buy alongside the contrarians<blockquote>科技股不受青睐——与逆势投资者一起买入的 5 个理由</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180491418","media":"MarketWatch","summary":"Life may be returning to normal for most people. But not for die-hard tech stock fans.\nTheir stocks ","content":"<p>Life may be returning to normal for most people. But not for die-hard tech stock fans.</p><p><blockquote>对大多数人来说，生活可能正在恢复正常。但不适合铁杆科技股粉丝。</blockquote></p><p> Their stocks are among the least liked by other investors, according to a&nbsp;recent Bank of America fund manager survey. It found that fund managers have the lowest level allocation toward tech since 2003.</p><p><blockquote>根据美国银行基金经理最近的一项调查，他们的股票是其他投资者最不喜欢的股票之一。研究发现，基金经理对科技股的配置水平是自2003年以来最低的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cfe97072b200641cb5a47b353d9fcdbb\" tg-width=\"1260\" tg-height=\"753\"></p><p><blockquote></blockquote></p><p> How can this be?</p><p><blockquote>这怎么可能？</blockquote></p><p> Tech has a growth issue. That seems odd, but it makes sense if you think it through. Cyclical companies in areas like energy, industry and basic materials caught in the doldrums during the pandemic are now seeing a Phoenix-like reversal of fortune.</p><p><blockquote>科技有一个增长问题。这似乎很奇怪，但如果你仔细想想，这是有道理的。能源、工业和基础材料等领域的周期性公司在疫情期间陷入低迷，现在正经历着凤凰般的命运逆转。</blockquote></p><p> In contrast, sales and earnings at a lot of tech held up OK during the pandemic. So the updraft they get from a rebounding economy looks sort of ho-hum, relatively speaking.</p><p><blockquote>相比之下，许多科技公司的销售额和盈利在疫情期间保持良好。因此，相对而言，他们从反弹的经济中获得的上升气流看起来有点乏味。</blockquote></p><p> “Because of COVID, a lot of tech companies saw a lot of growth,” says Vlad Rom, a senior investment analyst at Thrivent, a Minnesota-based money manager. He noted that the pandemic pulled forward tech spending as companies looked for new ways to reach consumers and run meetings.</p><p><blockquote>“明尼苏达州基金管理公司 Thrivent 的高级投资分析师弗拉德-罗姆（Vlad Rom）说：”由于 COVID，许多科技公司都实现了大幅增长。他指出，随着公司寻找接触消费者和召开会议的新方式，疫情推动了科技支出。</blockquote></p><p> “This was not the case for non-tech companies,” he says. Now, as the economy picks up, those non-tech companies are seeing a big growth rebound. “A tech company growing at 30% last year will grow 30% this year. A non-tech company with zero growth last year will grow 50% this year. That is what a lot of investors are focused on.”</p><p><blockquote>“他说：”非科技公司的情况并非如此。现在，随着经济的回暖，那些非科技公司正在经历巨大的增长反弹。“一家去年增长30%的科技公司，今年将增长30%。一家去年零增长的非科技公司，今年将增长50%。这是很多投资者关注的焦点。”</blockquote></p><p> In other words, it’s all about the cyclical trade you’ve been hearing so much about. “The incremental change for a more cyclical business looks better,” says Joseph Chin an analyst at Cambiar Investors in Denver.</p><p><blockquote>换句话说，这一切都与你听说过的周期性交易有关。“丹佛 Cambiar Investors 的分析师 Joseph Chin 说：”对于周期性更强的企业来说，渐进式变化看起来更好。</blockquote></p><p> Another problem is that emerging tech companies – think recent initial public offerings – expect their big payoff in profits in the distant future. So they get hit hard when investors fear rapid inflation will send interest rates higher. This reduces the present value of future profits in valuation models.</p><p><blockquote>另一个问题是，新兴科技公司——想想最近的首次公开募股——期望在遥远的未来获得巨额利润回报。因此，当投资者担心快速通胀会推高利率时，他们会受到沉重打击。这降低了估值模型中未来利润的现值。</blockquote></p><p> In short, tech is out of favor, which makes it a place to shop for contrarians like myself. Indeed, tech has already been putting in a rebound over the past several trading days. The Nasdaq Composite&nbsp;was down 8.5% peak to trough, in its recent pullback. As the S&amp;P 500 index&nbsp;and the Dow Jones Industrial Average&nbsp;flirt with all-time highs, the Nasdaq is still off over 3%.</p><p><blockquote>简而言之，科技已经失宠，这使得它成为像我这样的逆向投资者购物的地方。事实上，科技股在过去几个交易日已经出现反弹。在最近的回调中，纳斯达克综合指数从峰谷下跌了 8.5%。随着标普500指数和道琼斯工业平均指数触及历史高点，纳斯达克仍下跌超过 3%。</blockquote></p><p> “Big tech looks very attractive today especially given the recent underperformance,” says Todd Lowenstein, chief equity strategist at HighMark Capital Management. “It’s a unique opportunity to upgrade your portfolio to quality in big tech, it’s where some of the best value is in the market today.”</p><p><blockquote>“HighMark Capital Management 首席股票策略师托德-洛温斯坦（Todd Lowenstein）说：”大型科技公司如今看起来非常有吸引力，尤其是考虑到最近的表现不佳。“这是一个独特的机会，可以将您的投资组合提升到大型科技领域的质量，也是当今市场上一些最有价值的地方”。</blockquote></p><p> Here are five reasons why.</p><p><blockquote>以下是五个原因。</blockquote></p><p> <b>1. Insiders are buying</b></p><p><blockquote><b>1. 内部人士正在买入</b></blockquote></p><p> For my stock letter (Brush Up on Stocks, link in bio below), I’ve tracked insiders daily for over a decade, and one thing is always clear: Insider buying at tech companies is exceedingly rare. But that’s changed in the past few weeks – which brought an unusually high volume of tech insider buying.</p><p><blockquote>十多年来，我每天都在追踪内部人士，有一件事始终很清楚： 科技公司的内部人士买入极为罕见。但在过去几周里，这种情况发生了变化--这带来了异常高的科技内幕购买量。</blockquote></p><p> I just published an issue of my stock letter focusing solely on tech for the first time ever and featured 10 names that look very attractive. I highlighted several others in my letter earlier this month. I single a few out below. Bottom line: The widespread insider interest tells me tech is a buy.</p><p><blockquote>我刚刚发表了一期股票信，有史以来第一次只关注科技，并重点介绍了 10 个看起来非常有吸引力的名字。我在本月早些时候的信中强调了其他几个问题。我在下面挑出几个。底线：内部人士的广泛兴趣告诉我，科技股值得买入。</blockquote></p><p> <b>2. Tech’s ‘growth problem’ will go away</b></p><p><blockquote><b>2. 科技的“增长问题”将消失</b></blockquote></p><p> The pandemic pulled forward a lot of tech adoption among companies. That makes year-over-year comparisons at tech look challenging as we move through 2021, says Matt Miskin, the co-chief investment strategist at John Hancock Investment Management. ‘But as we go into 2022, we believe the street is underestimating the growth in technology relative to the overall market. We would look opportunistically at tech in the next couple of months.”</p><p><blockquote>疫情推动了公司对技术的大量采用。约翰·汉考克投资管理公司 (John Hancock Investment Management) 联席首席投资策略师马特·米斯金 (Matt Miskin) 表示，随着我们进入 2021 年，科技领域的逐年比较看起来具有挑战性。“但随着我们进入2022年，我们认为华尔街低估了相对于整体市场的技术增长。在接下来的几个月里，我们会投机取巧地看待科技领域。”</blockquote></p><p> <b>3. Tech looks reasonably priced</b></p><p><blockquote><b>3. 技术看起来价格合理</b></blockquote></p><p> The chart below shows the relative value of S&amp;P 500 tech stocks compared to the valuation of the S&amp;P 500 itself. As you can see, tech’s price earnings ratio was recently traded at its average 1.24 times the price earnings multiple of the comp.</p><p><blockquote>下图显示了标普500科技股与标普500本身估值的相对价值。如您所见，tech 的市盈率最近平均为 comp 市盈率的 1.24 倍。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5666db47a1ebd117a02d0881dc60e30\" tg-width=\"1260\" tg-height=\"1413\"><span>LEUTHOLD</span></p><p><blockquote><p class=\"t-img-caption\"><span>洛伊特霍尔德</span></p></blockquote></p><p> <b>4. Tech has an edge when labor costs are rising</b></p><p><blockquote><b>4. 当劳动力成本上升时，科技具有优势</b></blockquote></p><p> While companies in retail, restaurants, hotels and other service sectors will suffer a hit to margins because of rising labor costs, tech companies typically do not have this problem. They employ relatively fewer people.</p><p><blockquote>虽然零售、餐馆、酒店和其他服务行业的公司将因劳动力成本上升而受到利润率打击，但科技公司通常不会出现这个问题。他们雇佣的人相对较少。</blockquote></p><p> “Perhaps the best way to play the uncertainty surrounding labor costs is technology,” says Leuthold Group chief investment strategist James Paulsen. “Historically, the relative investment performance of this sector has been largely invariant to such pressures.”</p><p><blockquote>“Leuthold 集团首席投资策略师詹姆斯-保尔森（James Paulsen）说：”也许利用技术是应对劳动力成本不确定性的最佳方式。“从历史上看，该行业的相对投资表现在很大程度上不受这种压力的影响”。</blockquote></p><p> <b>5. Interest-rate and inflation fears are overblown</b></p><p><blockquote><b>5.利率和通胀担忧被夸大</b></blockquote></p><p></p><p> Ironically, tech companies will come to the rescue – and literally save their own stocks. Why? Capital spending rose a lot in the past year. This tells us productivity will continue to increase. That makes it easier for companies to&nbsp;avoid passing higher labor costs on to consumers&nbsp;in the form of price hikes.</p><p><blockquote>具有讽刺意味的是，科技公司将出手相救——而且实际上是拯救自己的股票。为什么？去年资本支出大幅增加。这告诉我们生产率将继续提高。这使得企业更容易避免以涨价的形式将更高的劳动力成本转嫁给消费者。</blockquote></p><p> “Long-term growth of this economy is going to have to be driven by productivity growth, and technology will be the key to create that productivity,” says Miskin.</p><p><blockquote>“米斯金说：”经济的长期增长必须由生产率增长来推动，而技术将是创造生产率的关键。</blockquote></p><p> <b>What to buyThe arms dealers in chips</b></p><p><blockquote><b>买什么筹码中的军火商</b></blockquote></p><p> Chip and chip manufacturing companies look underpriced, says Chin at Cambiar Investors, and he singles out Applied Materials.He’s worth listening to because his shop owns the stock in its Cambiar Opportunity Fund.The fund outperforms its large-cap value category and the Russell 1000 Value Index&nbsp;by nearly 5 percentage points annualized over the past three years, says Morningstar.</p><p><blockquote>Cambiar Investors 的 Chin 表示，芯片和芯片制造公司的价格看起来被低估了，他特别指出了应用材料。他值得一听，因为他的商店拥有 Cambiar 机会基金中的股票。晨星表示，过去三年，该基金的年化表现优于其大盘股价值类别和罗素 1000 价值指数近 5 个百分点。</blockquote></p><p> Chin cites four reasons to favor Applied Materials: the ongoing chip shortage; the reshoring of chip manufacturing to the U.S.; demand from trends like autonomous vehicles, artificial intelligence and data analytics; and competition among chip makers to improve chip computing power. “We believe Applied Materials and the industry are entering a period of much higher growth,” he says.</p><p><blockquote>Chin 列举了四个支持应用材料的原因：持续的芯片短缺；芯片制造回流美国；自动驾驶汽车、人工智能和数据分析等趋势的需求；以及芯片制造商之间提高芯片计算能力的竞争。“他说：”我们相信，应用材料和行业正在进入一个更高的增长期。</blockquote></p><p> “It will take another four to six quarters for supply to catch up with demand and inventories,” says JP Morgan analyst Harlan Sur, who has an overweight rating on Applied Materials, KLA&nbsp;and Lam Research&nbsp;in chip equipment, and several of the large chip makers including NVIDIA&nbsp;and Microchip Technology.</p><p><blockquote>摩根大通分析师哈兰-苏尔（Harlan Sur）说：“供应还需要四到六个季度才能赶上需求和库存，”他对应用材料公司（Applied Materials）、芯片设备领域的 KLA 和 Lam Research 以及包括英伟达（NVIDIA）和微芯片技术公司（Microchip Technology）在内的几家大型芯片制造商进行了跑赢大盘评级。</blockquote></p><p> <b>Names that insiders favor</b></p><p><blockquote><b>内部人士喜欢的名字</b></blockquote></p><p> In the past several weeks I’ve suggested Microsoft,Intel&nbsp;and Snowflake&nbsp;in my stock letter a little below current prices, in part because of the attractive insider buying, and I still like these names.</p><p><blockquote>在过去的几周里，我在股票信中建议以略低于当前价格的价格买入微软、英特尔和雪花，部分原因是内幕买入很有吸引力，我仍然喜欢这些名字。</blockquote></p><p> Early in big economic rebounds, investors flock to growth, regardless of the quality of companies. But as we move into the mid-cycle, investors favor quality tech names, says Lowenstein, characterized by things like high margins, stable earnings growth and strong balance sheets.</p><p><blockquote>在经济大幅反弹的早期，无论公司的质量如何，投资者都会蜂拥而至。但洛温斯坦表示，随着我们进入周期中期，投资者青睐优质科技公司，这些公司的特点是高利润率、稳定的盈利增长和强劲的资产负债表。</blockquote></p><p> “If you are screening for quality that is going to lead you to tech,” says Lowenstein.</p><p><blockquote>“洛温斯坦说：”如果你在筛选质量，那就会引导你走向科技。</blockquote></p><p> This will favor Microsoft in cloud computing and software. Microsoft does not look cheap but the premium valuation is warranted because of its rapid growth, says JP Morgan analyst Mark Murphy.</p><p><blockquote>这将有利于云计算和软件领域的微软。摩根大通分析师 Mark Murphy 表示，微软看起来并不便宜，但由于其快速增长，溢价估值是合理的。</blockquote></p><p> Intel shares have been held back by manufacturing issues, but by now the stock looks relatively cheap compared to the market with its price earnings ratio of around 12, says Hendi Susanto a portfolio manager and technology analyst at Gabelli Funds. “Intel is fixing the issue,” says Susanto.</p><p><blockquote>Gabelli Funds 的投资组合经理兼技术分析师 Hendi Susanto 表示，英特尔股价因制造问题而受到抑制，但目前与市场相比，该股看起来相对便宜，市盈率约为 12。“苏桑托说：”英特尔正在解决这个问题。</blockquote></p><p> Intel will also benefit from strong chip demand, and chip shortages. “The industry is only 30%-40% through the current up-cycle,” says Sur, at JP Morgan.</p><p><blockquote>英特尔也将受益于强劲的芯片需求和芯片短缺。“摩根大通的苏尔说：”该行业在当前的上升周期中只完成了 30%-40%。</blockquote></p><p> Snowflake is all about data. That’s its mission. The company offers a product called Data Cloud that helps customers share, explore and unlock the value of data. A big part of the pitch here is that Snowflake helps customers break down data silos inside various pieces of hardware, apps, networks, and clouds. BlackRock and MasterCard agree. They are customers, among dozens of other Fortune 500 companies.</p><p><blockquote>雪花是关于数据的。这就是它的使命。该公司提供了一款名为数据云的产品，帮助客户分享、探索和释放数据的价值。这里的很大一部分是雪花帮助客户打破各种硬件、应用程序、网络和云中的数据孤岛。贝莱德和万事达卡同意这一观点。他们是其他几十家财富500强公司的客户。</blockquote></p><p> <b>Security software companies</b></p><p><blockquote><b>安全软件公司</b></blockquote></p><p> The recent Colonial Pipeline ransomware attack that caused widespread fuel shortages on the East Coast reminded us all of the ongoing need for better security software.</p><p><blockquote>最近的殖民地管道勒索软件攻击导致东海岸大范围的燃料短缺，这提醒我们所有人对更好的安全软件的持续需求。</blockquote></p><p> Gabelli’s Susanto favors firewall company Check Point Software Technologies,citing cheap valuation, high operating margins and prevalence of recurring revenue. Check Point trades at around 22 times earnings compared to more than 60 for security software company Palo Alto Networks.</p><p><blockquote>Gabelli 的 Susanto 青睐防火墙公司 Check Point Software Technologies，理由是该公司估值低、营业利润率高、经常性收入普遍存在。Check Point 的市盈率约为 22 倍，而安全软件公司 Palo Alto Networks 的市盈率超过 60 倍。</blockquote></p><p> RBC Capital Markets analyst Matthew Hedberg has an overweight rating on Palo Alto, citing in part the Colonial Pipeline ransomware attack, as well as the “Sunburst” hack affecting businesses and governments last December, and the Microsoft Exchange Server malware attack in March.</p><p><blockquote>加拿大皇家银行资本市场分析师 Matthew Hedberg 对 Palo Alto 进行了跑赢大盘评级，部分原因是 Colonial Pipeline 勒索软件攻击、去年 12 月影响企业和政府的 “Sunburst ”黑客攻击以及 3 月份微软 Exchange 服务器恶意软件攻击。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech stocks are out of favor — 5 reasons to buy alongside the contrarians<blockquote>科技股不受青睐——与逆势投资者一起买入的 5 个理由</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\">\nTech stocks are out of favor — 5 reasons to buy alongside the contrarians<blockquote>科技股不受青睐——与逆势投资者一起买入的 5 个理由</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-05-31 19:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Life may be returning to normal for most people. But not for die-hard tech stock fans.</p><p><blockquote>对大多数人来说，生活可能正在恢复正常。但不适合铁杆科技股粉丝。</blockquote></p><p> Their stocks are among the least liked by other investors, according to a&nbsp;recent Bank of America fund manager survey. It found that fund managers have the lowest level allocation toward tech since 2003.</p><p><blockquote>根据美国银行基金经理最近的一项调查，他们的股票是其他投资者最不喜欢的股票之一。研究发现，基金经理对科技股的配置水平是自2003年以来最低的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cfe97072b200641cb5a47b353d9fcdbb\" tg-width=\"1260\" tg-height=\"753\"></p><p><blockquote></blockquote></p><p> How can this be?</p><p><blockquote>这怎么可能？</blockquote></p><p> Tech has a growth issue. That seems odd, but it makes sense if you think it through. Cyclical companies in areas like energy, industry and basic materials caught in the doldrums during the pandemic are now seeing a Phoenix-like reversal of fortune.</p><p><blockquote>科技有一个增长问题。这似乎很奇怪，但如果你仔细想想，这是有道理的。能源、工业和基础材料等领域的周期性公司在疫情期间陷入低迷，现在正经历着凤凰般的命运逆转。</blockquote></p><p> In contrast, sales and earnings at a lot of tech held up OK during the pandemic. So the updraft they get from a rebounding economy looks sort of ho-hum, relatively speaking.</p><p><blockquote>相比之下，许多科技公司的销售额和盈利在疫情期间保持良好。因此，相对而言，他们从反弹的经济中获得的上升气流看起来有点乏味。</blockquote></p><p> “Because of COVID, a lot of tech companies saw a lot of growth,” says Vlad Rom, a senior investment analyst at Thrivent, a Minnesota-based money manager. He noted that the pandemic pulled forward tech spending as companies looked for new ways to reach consumers and run meetings.</p><p><blockquote>“明尼苏达州基金管理公司 Thrivent 的高级投资分析师弗拉德-罗姆（Vlad Rom）说：”由于 COVID，许多科技公司都实现了大幅增长。他指出，随着公司寻找接触消费者和召开会议的新方式，疫情推动了科技支出。</blockquote></p><p> “This was not the case for non-tech companies,” he says. Now, as the economy picks up, those non-tech companies are seeing a big growth rebound. “A tech company growing at 30% last year will grow 30% this year. A non-tech company with zero growth last year will grow 50% this year. That is what a lot of investors are focused on.”</p><p><blockquote>“他说：”非科技公司的情况并非如此。现在，随着经济的回暖，那些非科技公司正在经历巨大的增长反弹。“一家去年增长30%的科技公司，今年将增长30%。一家去年零增长的非科技公司，今年将增长50%。这是很多投资者关注的焦点。”</blockquote></p><p> In other words, it’s all about the cyclical trade you’ve been hearing so much about. “The incremental change for a more cyclical business looks better,” says Joseph Chin an analyst at Cambiar Investors in Denver.</p><p><blockquote>换句话说，这一切都与你听说过的周期性交易有关。“丹佛 Cambiar Investors 的分析师 Joseph Chin 说：”对于周期性更强的企业来说，渐进式变化看起来更好。</blockquote></p><p> Another problem is that emerging tech companies – think recent initial public offerings – expect their big payoff in profits in the distant future. So they get hit hard when investors fear rapid inflation will send interest rates higher. This reduces the present value of future profits in valuation models.</p><p><blockquote>另一个问题是，新兴科技公司——想想最近的首次公开募股——期望在遥远的未来获得巨额利润回报。因此，当投资者担心快速通胀会推高利率时，他们会受到沉重打击。这降低了估值模型中未来利润的现值。</blockquote></p><p> In short, tech is out of favor, which makes it a place to shop for contrarians like myself. Indeed, tech has already been putting in a rebound over the past several trading days. The Nasdaq Composite&nbsp;was down 8.5% peak to trough, in its recent pullback. As the S&amp;P 500 index&nbsp;and the Dow Jones Industrial Average&nbsp;flirt with all-time highs, the Nasdaq is still off over 3%.</p><p><blockquote>简而言之，科技已经失宠，这使得它成为像我这样的逆向投资者购物的地方。事实上，科技股在过去几个交易日已经出现反弹。在最近的回调中，纳斯达克综合指数从峰谷下跌了 8.5%。随着标普500指数和道琼斯工业平均指数触及历史高点，纳斯达克仍下跌超过 3%。</blockquote></p><p> “Big tech looks very attractive today especially given the recent underperformance,” says Todd Lowenstein, chief equity strategist at HighMark Capital Management. “It’s a unique opportunity to upgrade your portfolio to quality in big tech, it’s where some of the best value is in the market today.”</p><p><blockquote>“HighMark Capital Management 首席股票策略师托德-洛温斯坦（Todd Lowenstein）说：”大型科技公司如今看起来非常有吸引力，尤其是考虑到最近的表现不佳。“这是一个独特的机会，可以将您的投资组合提升到大型科技领域的质量，也是当今市场上一些最有价值的地方”。</blockquote></p><p> Here are five reasons why.</p><p><blockquote>以下是五个原因。</blockquote></p><p> <b>1. Insiders are buying</b></p><p><blockquote><b>1. 内部人士正在买入</b></blockquote></p><p> For my stock letter (Brush Up on Stocks, link in bio below), I’ve tracked insiders daily for over a decade, and one thing is always clear: Insider buying at tech companies is exceedingly rare. But that’s changed in the past few weeks – which brought an unusually high volume of tech insider buying.</p><p><blockquote>十多年来，我每天都在追踪内部人士，有一件事始终很清楚： 科技公司的内部人士买入极为罕见。但在过去几周里，这种情况发生了变化--这带来了异常高的科技内幕购买量。</blockquote></p><p> I just published an issue of my stock letter focusing solely on tech for the first time ever and featured 10 names that look very attractive. I highlighted several others in my letter earlier this month. I single a few out below. Bottom line: The widespread insider interest tells me tech is a buy.</p><p><blockquote>我刚刚发表了一期股票信，有史以来第一次只关注科技，并重点介绍了 10 个看起来非常有吸引力的名字。我在本月早些时候的信中强调了其他几个问题。我在下面挑出几个。底线：内部人士的广泛兴趣告诉我，科技股值得买入。</blockquote></p><p> <b>2. Tech’s ‘growth problem’ will go away</b></p><p><blockquote><b>2. 科技的“增长问题”将消失</b></blockquote></p><p> The pandemic pulled forward a lot of tech adoption among companies. That makes year-over-year comparisons at tech look challenging as we move through 2021, says Matt Miskin, the co-chief investment strategist at John Hancock Investment Management. ‘But as we go into 2022, we believe the street is underestimating the growth in technology relative to the overall market. We would look opportunistically at tech in the next couple of months.”</p><p><blockquote>疫情推动了公司对技术的大量采用。约翰·汉考克投资管理公司 (John Hancock Investment Management) 联席首席投资策略师马特·米斯金 (Matt Miskin) 表示，随着我们进入 2021 年，科技领域的逐年比较看起来具有挑战性。“但随着我们进入2022年，我们认为华尔街低估了相对于整体市场的技术增长。在接下来的几个月里，我们会投机取巧地看待科技领域。”</blockquote></p><p> <b>3. Tech looks reasonably priced</b></p><p><blockquote><b>3. 技术看起来价格合理</b></blockquote></p><p> The chart below shows the relative value of S&amp;P 500 tech stocks compared to the valuation of the S&amp;P 500 itself. As you can see, tech’s price earnings ratio was recently traded at its average 1.24 times the price earnings multiple of the comp.</p><p><blockquote>下图显示了标普500科技股与标普500本身估值的相对价值。如您所见，tech 的市盈率最近平均为 comp 市盈率的 1.24 倍。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5666db47a1ebd117a02d0881dc60e30\" tg-width=\"1260\" tg-height=\"1413\"><span>LEUTHOLD</span></p><p><blockquote><p class=\"t-img-caption\"><span>洛伊特霍尔德</span></p></blockquote></p><p> <b>4. Tech has an edge when labor costs are rising</b></p><p><blockquote><b>4. 当劳动力成本上升时，科技具有优势</b></blockquote></p><p> While companies in retail, restaurants, hotels and other service sectors will suffer a hit to margins because of rising labor costs, tech companies typically do not have this problem. They employ relatively fewer people.</p><p><blockquote>虽然零售、餐馆、酒店和其他服务行业的公司将因劳动力成本上升而受到利润率打击，但科技公司通常不会出现这个问题。他们雇佣的人相对较少。</blockquote></p><p> “Perhaps the best way to play the uncertainty surrounding labor costs is technology,” says Leuthold Group chief investment strategist James Paulsen. “Historically, the relative investment performance of this sector has been largely invariant to such pressures.”</p><p><blockquote>“Leuthold 集团首席投资策略师詹姆斯-保尔森（James Paulsen）说：”也许利用技术是应对劳动力成本不确定性的最佳方式。“从历史上看，该行业的相对投资表现在很大程度上不受这种压力的影响”。</blockquote></p><p> <b>5. Interest-rate and inflation fears are overblown</b></p><p><blockquote><b>5.利率和通胀担忧被夸大</b></blockquote></p><p></p><p> Ironically, tech companies will come to the rescue – and literally save their own stocks. Why? Capital spending rose a lot in the past year. This tells us productivity will continue to increase. That makes it easier for companies to&nbsp;avoid passing higher labor costs on to consumers&nbsp;in the form of price hikes.</p><p><blockquote>具有讽刺意味的是，科技公司将出手相救——而且实际上是拯救自己的股票。为什么？去年资本支出大幅增加。这告诉我们生产率将继续提高。这使得企业更容易避免以涨价的形式将更高的劳动力成本转嫁给消费者。</blockquote></p><p> “Long-term growth of this economy is going to have to be driven by productivity growth, and technology will be the key to create that productivity,” says Miskin.</p><p><blockquote>“米斯金说：”经济的长期增长必须由生产率增长来推动，而技术将是创造生产率的关键。</blockquote></p><p> <b>What to buyThe arms dealers in chips</b></p><p><blockquote><b>买什么筹码中的军火商</b></blockquote></p><p> Chip and chip manufacturing companies look underpriced, says Chin at Cambiar Investors, and he singles out Applied Materials.He’s worth listening to because his shop owns the stock in its Cambiar Opportunity Fund.The fund outperforms its large-cap value category and the Russell 1000 Value Index&nbsp;by nearly 5 percentage points annualized over the past three years, says Morningstar.</p><p><blockquote>Cambiar Investors 的 Chin 表示，芯片和芯片制造公司的价格看起来被低估了，他特别指出了应用材料。他值得一听，因为他的商店拥有 Cambiar 机会基金中的股票。晨星表示，过去三年，该基金的年化表现优于其大盘股价值类别和罗素 1000 价值指数近 5 个百分点。</blockquote></p><p> Chin cites four reasons to favor Applied Materials: the ongoing chip shortage; the reshoring of chip manufacturing to the U.S.; demand from trends like autonomous vehicles, artificial intelligence and data analytics; and competition among chip makers to improve chip computing power. “We believe Applied Materials and the industry are entering a period of much higher growth,” he says.</p><p><blockquote>Chin 列举了四个支持应用材料的原因：持续的芯片短缺；芯片制造回流美国；自动驾驶汽车、人工智能和数据分析等趋势的需求；以及芯片制造商之间提高芯片计算能力的竞争。“他说：”我们相信，应用材料和行业正在进入一个更高的增长期。</blockquote></p><p> “It will take another four to six quarters for supply to catch up with demand and inventories,” says JP Morgan analyst Harlan Sur, who has an overweight rating on Applied Materials, KLA&nbsp;and Lam Research&nbsp;in chip equipment, and several of the large chip makers including NVIDIA&nbsp;and Microchip Technology.</p><p><blockquote>摩根大通分析师哈兰-苏尔（Harlan Sur）说：“供应还需要四到六个季度才能赶上需求和库存，”他对应用材料公司（Applied Materials）、芯片设备领域的 KLA 和 Lam Research 以及包括英伟达（NVIDIA）和微芯片技术公司（Microchip Technology）在内的几家大型芯片制造商进行了跑赢大盘评级。</blockquote></p><p> <b>Names that insiders favor</b></p><p><blockquote><b>内部人士喜欢的名字</b></blockquote></p><p> In the past several weeks I’ve suggested Microsoft,Intel&nbsp;and Snowflake&nbsp;in my stock letter a little below current prices, in part because of the attractive insider buying, and I still like these names.</p><p><blockquote>在过去的几周里，我在股票信中建议以略低于当前价格的价格买入微软、英特尔和雪花，部分原因是内幕买入很有吸引力，我仍然喜欢这些名字。</blockquote></p><p> Early in big economic rebounds, investors flock to growth, regardless of the quality of companies. But as we move into the mid-cycle, investors favor quality tech names, says Lowenstein, characterized by things like high margins, stable earnings growth and strong balance sheets.</p><p><blockquote>在经济大幅反弹的早期，无论公司的质量如何，投资者都会蜂拥而至。但洛温斯坦表示，随着我们进入周期中期，投资者青睐优质科技公司，这些公司的特点是高利润率、稳定的盈利增长和强劲的资产负债表。</blockquote></p><p> “If you are screening for quality that is going to lead you to tech,” says Lowenstein.</p><p><blockquote>“洛温斯坦说：”如果你在筛选质量，那就会引导你走向科技。</blockquote></p><p> This will favor Microsoft in cloud computing and software. Microsoft does not look cheap but the premium valuation is warranted because of its rapid growth, says JP Morgan analyst Mark Murphy.</p><p><blockquote>这将有利于云计算和软件领域的微软。摩根大通分析师 Mark Murphy 表示，微软看起来并不便宜，但由于其快速增长，溢价估值是合理的。</blockquote></p><p> Intel shares have been held back by manufacturing issues, but by now the stock looks relatively cheap compared to the market with its price earnings ratio of around 12, says Hendi Susanto a portfolio manager and technology analyst at Gabelli Funds. “Intel is fixing the issue,” says Susanto.</p><p><blockquote>Gabelli Funds 的投资组合经理兼技术分析师 Hendi Susanto 表示，英特尔股价因制造问题而受到抑制，但目前与市场相比，该股看起来相对便宜，市盈率约为 12。“苏桑托说：”英特尔正在解决这个问题。</blockquote></p><p> Intel will also benefit from strong chip demand, and chip shortages. “The industry is only 30%-40% through the current up-cycle,” says Sur, at JP Morgan.</p><p><blockquote>英特尔也将受益于强劲的芯片需求和芯片短缺。“摩根大通的苏尔说：”该行业在当前的上升周期中只完成了 30%-40%。</blockquote></p><p> Snowflake is all about data. That’s its mission. The company offers a product called Data Cloud that helps customers share, explore and unlock the value of data. A big part of the pitch here is that Snowflake helps customers break down data silos inside various pieces of hardware, apps, networks, and clouds. BlackRock and MasterCard agree. They are customers, among dozens of other Fortune 500 companies.</p><p><blockquote>雪花是关于数据的。这就是它的使命。该公司提供了一款名为数据云的产品，帮助客户分享、探索和释放数据的价值。这里的很大一部分是雪花帮助客户打破各种硬件、应用程序、网络和云中的数据孤岛。贝莱德和万事达卡同意这一观点。他们是其他几十家财富500强公司的客户。</blockquote></p><p> <b>Security software companies</b></p><p><blockquote><b>安全软件公司</b></blockquote></p><p> The recent Colonial Pipeline ransomware attack that caused widespread fuel shortages on the East Coast reminded us all of the ongoing need for better security software.</p><p><blockquote>最近的殖民地管道勒索软件攻击导致东海岸大范围的燃料短缺，这提醒我们所有人对更好的安全软件的持续需求。</blockquote></p><p> Gabelli’s Susanto favors firewall company Check Point Software Technologies,citing cheap valuation, high operating margins and prevalence of recurring revenue. Check Point trades at around 22 times earnings compared to more than 60 for security software company Palo Alto Networks.</p><p><blockquote>Gabelli 的 Susanto 青睐防火墙公司 Check Point Software Technologies，理由是该公司估值低、营业利润率高、经常性收入普遍存在。Check Point 的市盈率约为 22 倍，而安全软件公司 Palo Alto Networks 的市盈率超过 60 倍。</blockquote></p><p> RBC Capital Markets analyst Matthew Hedberg has an overweight rating on Palo Alto, citing in part the Colonial Pipeline ransomware attack, as well as the “Sunburst” hack affecting businesses and governments last December, and the Microsoft Exchange Server malware attack in March.</p><p><blockquote>加拿大皇家银行资本市场分析师 Matthew Hedberg 对 Palo Alto 进行了跑赢大盘评级，部分原因是 Colonial Pipeline 勒索软件攻击、去年 12 月影响企业和政府的 “Sunburst ”黑客攻击以及 3 月份微软 Exchange 服务器恶意软件攻击。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/tech-stocks-are-out-of-favor-5-reasons-to-shop-alongside-the-contrarians-11622204518?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/tech-stocks-are-out-of-favor-5-reasons-to-shop-alongside-the-contrarians-11622204518?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180491418","content_text":"Life may be returning to normal for most people. But not for die-hard tech stock fans.\nTheir stocks are among the least liked by other investors, according to a recent Bank of America fund manager survey. It found that fund managers have the lowest level allocation toward tech since 2003.\n\nHow can this be?\nTech has a growth issue. That seems odd, but it makes sense if you think it through. Cyclical companies in areas like energy, industry and basic materials caught in the doldrums during the pandemic are now seeing a Phoenix-like reversal of fortune.\nIn contrast, sales and earnings at a lot of tech held up OK during the pandemic. So the updraft they get from a rebounding economy looks sort of ho-hum, relatively speaking.\n“Because of COVID, a lot of tech companies saw a lot of growth,” says Vlad Rom, a senior investment analyst at Thrivent, a Minnesota-based money manager. He noted that the pandemic pulled forward tech spending as companies looked for new ways to reach consumers and run meetings.\n“This was not the case for non-tech companies,” he says. Now, as the economy picks up, those non-tech companies are seeing a big growth rebound. “A tech company growing at 30% last year will grow 30% this year. A non-tech company with zero growth last year will grow 50% this year. That is what a lot of investors are focused on.”\nIn other words, it’s all about the cyclical trade you’ve been hearing so much about. “The incremental change for a more cyclical business looks better,” says Joseph Chin an analyst at Cambiar Investors in Denver.\nAnother problem is that emerging tech companies – think recent initial public offerings – expect their big payoff in profits in the distant future. So they get hit hard when investors fear rapid inflation will send interest rates higher. This reduces the present value of future profits in valuation models.\nIn short, tech is out of favor, which makes it a place to shop for contrarians like myself. Indeed, tech has already been putting in a rebound over the past several trading days. The Nasdaq Composite was down 8.5% peak to trough, in its recent pullback. As the S&P 500 index and the Dow Jones Industrial Average flirt with all-time highs, the Nasdaq is still off over 3%.\n“Big tech looks very attractive today especially given the recent underperformance,” says Todd Lowenstein, chief equity strategist at HighMark Capital Management. “It’s a unique opportunity to upgrade your portfolio to quality in big tech, it’s where some of the best value is in the market today.”\nHere are five reasons why.\n1. Insiders are buying\nFor my stock letter (Brush Up on Stocks, link in bio below), I’ve tracked insiders daily for over a decade, and one thing is always clear: Insider buying at tech companies is exceedingly rare. But that’s changed in the past few weeks – which brought an unusually high volume of tech insider buying.\nI just published an issue of my stock letter focusing solely on tech for the first time ever and featured 10 names that look very attractive. I highlighted several others in my letter earlier this month. I single a few out below. Bottom line: The widespread insider interest tells me tech is a buy.\n2. Tech’s ‘growth problem’ will go away\nThe pandemic pulled forward a lot of tech adoption among companies. That makes year-over-year comparisons at tech look challenging as we move through 2021, says Matt Miskin, the co-chief investment strategist at John Hancock Investment Management. ‘But as we go into 2022, we believe the street is underestimating the growth in technology relative to the overall market. We would look opportunistically at tech in the next couple of months.”\n3. Tech looks reasonably priced\nThe chart below shows the relative value of S&P 500 tech stocks compared to the valuation of the S&P 500 itself. As you can see, tech’s price earnings ratio was recently traded at its average 1.24 times the price earnings multiple of the comp.\nLEUTHOLD\n4. Tech has an edge when labor costs are rising\nWhile companies in retail, restaurants, hotels and other service sectors will suffer a hit to margins because of rising labor costs, tech companies typically do not have this problem. They employ relatively fewer people.\n“Perhaps the best way to play the uncertainty surrounding labor costs is technology,” says Leuthold Group chief investment strategist James Paulsen. “Historically, the relative investment performance of this sector has been largely invariant to such pressures.”\n5. Interest-rate and inflation fears are overblown\nIronically, tech companies will come to the rescue – and literally save their own stocks. Why? Capital spending rose a lot in the past year. This tells us productivity will continue to increase. That makes it easier for companies to avoid passing higher labor costs on to consumers in the form of price hikes.\n“Long-term growth of this economy is going to have to be driven by productivity growth, and technology will be the key to create that productivity,” says Miskin.\nWhat to buyThe arms dealers in chips\nChip and chip manufacturing companies look underpriced, says Chin at Cambiar Investors, and he singles out Applied Materials.He’s worth listening to because his shop owns the stock in its Cambiar Opportunity Fund.The fund outperforms its large-cap value category and the Russell 1000 Value Index by nearly 5 percentage points annualized over the past three years, says Morningstar.\nChin cites four reasons to favor Applied Materials: the ongoing chip shortage; the reshoring of chip manufacturing to the U.S.; demand from trends like autonomous vehicles, artificial intelligence and data analytics; and competition among chip makers to improve chip computing power. “We believe Applied Materials and the industry are entering a period of much higher growth,” he says.\n“It will take another four to six quarters for supply to catch up with demand and inventories,” says JP Morgan analyst Harlan Sur, who has an overweight rating on Applied Materials, KLA and Lam Research in chip equipment, and several of the large chip makers including NVIDIA and Microchip Technology.\nNames that insiders favor\nIn the past several weeks I’ve suggested Microsoft,Intel and Snowflake in my stock letter a little below current prices, in part because of the attractive insider buying, and I still like these names.\nEarly in big economic rebounds, investors flock to growth, regardless of the quality of companies. But as we move into the mid-cycle, investors favor quality tech names, says Lowenstein, characterized by things like high margins, stable earnings growth and strong balance sheets.\n“If you are screening for quality that is going to lead you to tech,” says Lowenstein.\nThis will favor Microsoft in cloud computing and software. Microsoft does not look cheap but the premium valuation is warranted because of its rapid growth, says JP Morgan analyst Mark Murphy.\nIntel shares have been held back by manufacturing issues, but by now the stock looks relatively cheap compared to the market with its price earnings ratio of around 12, says Hendi Susanto a portfolio manager and technology analyst at Gabelli Funds. “Intel is fixing the issue,” says Susanto.\nIntel will also benefit from strong chip demand, and chip shortages. “The industry is only 30%-40% through the current up-cycle,” says Sur, at JP Morgan.\nSnowflake is all about data. That’s its mission. The company offers a product called Data Cloud that helps customers share, explore and unlock the value of data. A big part of the pitch here is that Snowflake helps customers break down data silos inside various pieces of hardware, apps, networks, and clouds. BlackRock and MasterCard agree. They are customers, among dozens of other Fortune 500 companies.\nSecurity software companies\nThe recent Colonial Pipeline ransomware attack that caused widespread fuel shortages on the East Coast reminded us all of the ongoing need for better security software.\nGabelli’s Susanto favors firewall company Check Point Software Technologies,citing cheap valuation, high operating margins and prevalence of recurring revenue. Check Point trades at around 22 times earnings compared to more than 60 for security software company Palo Alto Networks.\nRBC Capital Markets analyst Matthew Hedberg has an overweight rating on Palo Alto, citing in part the Colonial Pipeline ransomware attack, as well as the “Sunburst” hack affecting businesses and governments last December, and the Microsoft Exchange Server malware attack in March.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":872,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138436217,"gmtCreate":1621952948339,"gmtModify":1634185181157,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>sad","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>sad","text":"$Palantir Technologies Inc.(PLTR)$sad","images":[{"img":"https://static.tigerbbs.com/c8e245ed40214993279a845e9c9ba931","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/138436217","isVote":1,"tweetType":1,"viewCount":996,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":377868042,"gmtCreate":1619515513186,"gmtModify":1634212137628,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>worried until chua sai liao","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>worried until chua sai liao","text":"$Palantir Technologies Inc.(PLTR)$worried until chua sai liao","images":[{"img":"https://static.tigerbbs.com/58a347627d5315651a1a369c5fec69e2","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/377868042","isVote":1,"tweetType":1,"viewCount":812,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":372655752,"gmtCreate":1619212321876,"gmtModify":1634287772653,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"Noooo","listText":"Noooo","text":"Noooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/372655752","repostId":"1128911279","repostType":4,"isVote":1,"tweetType":1,"viewCount":679,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183726863,"gmtCreate":1623362132752,"gmtModify":1634034296113,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[{"img":"https://static.tigerbbs.com/93be64acb324ad4f4934926f94388abd","width":"1440","height":"4151"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/183726863","isVote":1,"tweetType":1,"viewCount":633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":347973557,"gmtCreate":1618460511779,"gmtModify":1634292784187,"author":{"id":"3578128120498769","authorId":"3578128120498769","name":"hhyceline","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578128120498769","idStr":"3578128120498769"},"themes":[],"title":"","htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/347973557","repostId":"1150469902","repostType":4,"isVote":1,"tweetType":1,"viewCount":611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}