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THH092

THH092

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2021-12-24

nice

Here are Warren Buffett's 8 highlights of 2021<blockquote>以下是沃伦·巴菲特 2021 年的 8 个亮点</blockquote>

2021-12-21

thanks for sharing

昨夜今晨：美三大指数均跌超1%，新能源汽车股重挫

2021-12-20

thanks for sharing

Apple Stock: The Strongest Shield Against Rate Hikes<blockquote>苹果股票：抵御加息的最强盾牌</blockquote>

2021-12-15

okay

Digital World Acquisition jumped 5.7% in extended trading<blockquote>Digital World 收购在延长交易中上涨 5.7%</blockquote>

2021-12-10

thanks for sharing

外媒头条：美国CPI恐再“爆表”！是时候对冲通胀了

2021-11-29

nice

5 Stocks To Watch For November 29, 2021<blockquote>2021 年 11 月 29 日值得关注的 5 只股票</blockquote>

2021-11-27

😪

抱歉，原内容已删除

2021-11-24

what other stocks to recom?

Have $2,000? 2 Market Crash-Ready Stocks to Buy<blockquote>有2000美元吗？2 只值得购买的市场崩盘股票</blockquote>

2021-11-24

how many more to sell?

抱歉，原内容已删除

2021-11-22

like

抱歉，原内容已删除

2021-11-18

$Palantir Technologies Inc.(PLTR)$long term hold

2021-11-18

$Walt Disney(DIS)$believeeee

2021-11-16

nice

Netease increased its net revenues to RMB22.2 billion,and will repurchase up to 3 billion US dollars of shares<blockquote>网易将净收入增至人民币222亿元，并将回购至多30亿美元的股票</blockquote>

2021-11-11

$Palantir Technologies Inc.(PLTR)$Hold!

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11:44","market":"us","language":"en","title":"Here are Warren Buffett's 8 highlights of 2021<blockquote>以下是沃伦·巴菲特 2021 年的 8 个亮点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117383431","media":"Markets insider","summary":"Warren Buffett revealed 2 big bets, defended his tax habits, and admitted several mistakes this year","content":"<p>Warren Buffett revealed 2 big bets, defended his tax habits, and admitted several mistakes this year. Here are his 8 highlights of 2021.</p><p><blockquote>沃伦·巴菲特透露了两大赌注，为自己的纳税习惯辩护，并承认今年犯了几个错误。以下是他2021年的8个亮点。</blockquote></p><p> <ul>  <li>Warren Buffett revealed two big bets, admitted mistakes, and complained about speculators this year.</li>  <li>The Berkshire Hathaway chief defended his tax practices<b>&nbsp;and made a fortune on Apple.</b></li>  <li><b>Here are billionaire investor Buffett's eight highlights of 2021.</b></li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45e08085f6ee8a3866f2c0f78fdc0f63\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett.</span></p><p><blockquote><ul><li>沃伦·巴菲特透露了两个大赌注，承认了错误，并抱怨了今年的投机者。</li><li>伯克希尔哈撒韦公司总裁为自己的税务做法辩护<b>在苹果上发了财。</b></li><li><b>以下是亿万富翁投资者巴菲特 2021 年的八大亮点。</b></li></ul><p class=\"t-img-caption\"><span>沃伦·巴菲特。</span></p></blockquote></p><p> Warren Buffett revealed a couple of billion-dollar investments, owned up to making several mistakes, and bemoaned the rampant speculation in markets this year.</p><p><blockquote>沃伦·巴菲特透露了几笔数十亿美元的投资，承认犯了几个错误，并哀叹今年市场上猖獗的投机行为。</blockquote></p><p> The renowned investor and Berkshire Hathaway CEO also weathered a tax exposé, resigned as a trustee of The Bill &amp; Melinda Gates Foundation, reflected on his decades-long friendship with Charlie Munger, and saw his Apple investment soared in value.</p><p><blockquote>这位著名投资者兼伯克希尔·哈撒韦公司首席执行官还经受住了税务风险，辞去了比尔及梅琳达·盖茨基金会受托人的职务，反思了他与查理·芒格数十年的友谊，并看到他在苹果的投资价值飙升。</blockquote></p><p> <b>Here are the 8 highlights of Buffett's year:</b></p><p><blockquote><b>以下是巴菲特今年的 8 个亮点：</b></blockquote></p><p> <b>Chevron and Verizon</b></p><p><blockquote><b>雪佛龙和威瑞森</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a6a660c35780e87560d9d7518a755bf\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>CNBC</span></p><p><blockquote><p class=\"t-img-caption\"><span>CNBC</span></p></blockquote></p><p> Buffett started the year in style with his&nbsp;fourth-quarter portfolio update&nbsp;in February. He revealed a $4.1 billion stake in&nbsp;Chevron&nbsp;and a $8.6 billion position in&nbsp;Verizon, answering the question of which&nbsp;mystery stocks&nbsp;he had been buying in recent months.</p><p><blockquote>巴菲特在二月份发布了第四季度投资组合更新，以时尚的方式开始了新的一年。他透露了雪佛龙41亿美元的股份和威瑞森86亿美元的头寸，回答了他最近几个月购买了哪些神秘股票的问题。</blockquote></p><p> Berkshire also trimmed the largest position in its portfolio,Apple, by 6%. Moreover, it halved its&nbsp;Wells Fargo&nbsp;holdings and exited&nbsp;JPMorgan,PNC, and&nbsp;M&amp;T&nbsp;after slashing its positions in those banks in 2020.</p><p><blockquote>伯克希尔还将其投资组合中最大的头寸苹果公司削减了 6%。此外，该公司在 2020 年削减了富国银行的持股比例后，将其持有的富国银行减半，并退出了摩根大通、PNC 和 M&amp;T。</blockquote></p><p> <b>The shareholder letter</b></p><p><blockquote><b>股东函件</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce8d9ea154fd9ca33192159634e60af4\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett&nbsp;published&nbsp;his annual letter to shareholders in February. The investor admitted to overpaying when he acquired Precision Castparts in 2016, trumpeted a bunch of Berkshire's subsidiaries, and contrasted his long-term shareholders with the speculators flocking to trendy assets such as meme stocks and cryptocurrencies.</p><p><blockquote>巴菲特于二月份发表了年度致股东信。这位投资者承认在 2016 年收购 Precision Castparts 时支付了过高的价格，大肆宣扬伯克希尔的一系列子公司，并将他的长期股东与涌向模因股票和加密货币等时尚资产的投机者进行了对比。</blockquote></p><p> <b>The annual meeting</b></p><p><blockquote><b>年会</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f9312fb972e2aa68627183025b2f91e\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Berkshire Hathaway CEO Warren Buffett talks to reporters while holding an ice cream at a trade show during the company's annual meeting in Omaha, Nebraska May 3, 2014.</span></p><p><blockquote><p class=\"t-img-caption\"><span>2014 年 5 月 3 日，伯克希尔哈撒韦公司首席执行官沃伦·巴菲特在内布拉斯加州奥马哈举行的公司年会上手持冰淇淋在贸易展上接受记者采访。</span></p></blockquote></p><p> Buffett warned rookie traders not to get cocky, bemoaned the lack of bargains in the market, rang the inflation alarm, and admitted to buying \"so-so\" stocks during Berkshire's&nbsp;annual shareholder meeting&nbsp;in May.</p><p><blockquote>巴菲特警告菜鸟交易员不要自大，哀叹市场缺乏便宜货，敲响通胀警钟，并承认在5月份伯克希尔年度股东大会期间购买了“一般般”的股票。</blockquote></p><p> The investor also complained about the surge in people treating the stock market like a casino. Moreover, he acknowledged that trimming his Apple stake and selling&nbsp;Costco&nbsp;were likely mistakes, and suggested he avoided bailing out the \"big four\" US airlines by exiting his positions in them in April 2020.</p><p><blockquote>这位投资者还抱怨说，越来越多的人把股市当成赌场。此外，他承认削减苹果股份和出售好市多可能是错误，并建议他在2020年4月退出美国“四大”航空公司的头寸，以避免救助它们。</blockquote></p><p> <b>The tax fracas</b></p><p><blockquote><b>税务纠纷</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61a44f30c0a7e35f28da432b35a28cf3\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett came under fire in June after ProPublica secured the tax returns of some of the wealthiest Americans, and reported the investor paid only $25 million in federal income tax between 2014 and 2018.</p><p><blockquote>6 月份，ProPublica 获得了一些最富有的美国人的纳税申报表，并报道称这位投资者在 2014 年至 2018 年间仅缴纳了 2500 万美元的联邦所得税，巴菲特因此受到抨击。</blockquote></p><p> The Berkshire boss&nbsp;defended himself&nbsp;by noting that he's pledged to give over 99% of his net worth to philanthropic causes, and has already donated about half of his Berkshire \"A\" shares since 2006.</p><p><blockquote>这位伯克希尔老板为自己辩护时指出，他承诺将超过 99% 的净资产捐赠给慈善事业，并且自 2006 年以来已经捐赠了大约一半的伯克希尔“A”股。</blockquote></p><p> <b>The Gates Foundation</b></p><p><blockquote><b>盖茨基金会</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f51d18855fcf5c00bab6b290a5814dd9\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Paul Sakuma/AP Photo</span></p><p><blockquote><p class=\"t-img-caption\"><span>保罗·佐久间/美联社照片</span></p></blockquote></p><p> Buffett&nbsp;resigned&nbsp;as a trustee of the Bill &amp; Melinda Gates Foundation in June. The investor explained that he was barely involved in the foundation's work, and had already stepped down from all corporate boards except his own.</p><p><blockquote>巴菲特于六月辞去了比尔及梅琳达·盖茨基金会受托人的职务。这位投资者解释说，他几乎没有参与基金会的工作，并且已经辞去了除自己以外的所有公司董事会职务。</blockquote></p><p> He also highlighted his annual donation of $4.1 billion in total to five charities, including the Gates Foundation.</p><p><blockquote>他还强调了他每年向包括盖茨基金会在内的五个慈善机构捐赠的总计41亿美元。</blockquote></p><p> <b>Friendship with Charlie Munger</b></p><p><blockquote><b>与查理·芒格的友谊</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad9020f65431108ca2a38c0e654349a2\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>SCOTT MORGAN/REUTERS</span></p><p><blockquote><p class=\"t-img-caption\"><span>斯科特·摩根/路透社</span></p></blockquote></p><p> Buffett and his business partner, Charlie Munger, discussed their decades-long friendship in a&nbsp;CNBC interview&nbsp;that aired in June.</p><p><blockquote>巴菲特和他的商业伙伴查理·芒格在 6 月份播出的 CNBC 采访中讨论了他们数十年的友谊。</blockquote></p><p></p><p> The pair sharply criticized&nbsp;Robinhood, and Munger called for tighter regulations on derivatives trading after&nbsp;Archegos Capital's meltdown. Buffett underlined the immense contribution that Munger has made to his life.</p><p><blockquote>两人严厉批评了 Robinhood，芒格呼吁在 Archegos Capital 倒闭后对衍生品交易实施更严格的监管。巴菲特强调了芒格对他一生做出的巨大贡献。</blockquote></p><p> <b>Buybacks, cash, and stock sales</b></p><p><blockquote><b>回购、现金和股票销售</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bfba0cfd98eca4c346f1fc53e1dd9bf\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Berkshire's&nbsp;third-quarter earnings&nbsp;underlined how hard it has been for Buffett to find bargain stocks and businesses this year. That has prompted him to stockpile cash and ramp up share buybacks.</p><p><blockquote>伯克希尔第三季度的收益凸显了巴菲特今年寻找廉价股票和业务有多么困难。这促使他储备现金并增加股票回购。</blockquote></p><p> The conglomerate sold a net $7 billion of stock in the year to September 30, revealed it was on track to repurchase a record $25 billion of stock this year, and grew its cash pile to an unprecedented $149 billion.</p><p><blockquote>截至 9 月 30 日的一年中，该企业集团净出售了 70 亿美元的股票，透露今年有望回购创纪录的 250 亿美元股票，并将其现金池增至前所未有的 1,490 亿美元。</blockquote></p><p> <b>The Apple bet</b></p><p><blockquote><b>苹果赌注</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6a735713e1ca5629e3e229ed80ea7fbb\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett's biggest success this year might well be his Apple investment.</p><p><blockquote>巴菲特今年最大的成功很可能是他的苹果投资。</blockquote></p><p> The investor plowed $36 billion into the iPhone maker between 2016 and 2018. The stock has&nbsp;surged&nbsp;by about a third this year, boosting the value of Berkshire's stake to more than $150 billion as of mid-December.</p><p><blockquote>这位投资者在2016年至2018年间向这家iPhone制造商投入了360亿美元。该股今年已飙升约三分之一，截至 12 月中旬，伯克希尔的股票价值已超过 1500 亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here are Warren Buffett's 8 highlights of 2021<blockquote>以下是沃伦·巴菲特 2021 年的 8 个亮点</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\">\nHere are Warren Buffett's 8 highlights of 2021<blockquote>以下是沃伦·巴菲特 2021 年的 8 个亮点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Markets insider</strong><span class=\"h-time small\">2021-12-24 11:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Warren Buffett revealed 2 big bets, defended his tax habits, and admitted several mistakes this year. Here are his 8 highlights of 2021.</p><p><blockquote>沃伦·巴菲特透露了两大赌注，为自己的纳税习惯辩护，并承认今年犯了几个错误。以下是他2021年的8个亮点。</blockquote></p><p> <ul>  <li>Warren Buffett revealed two big bets, admitted mistakes, and complained about speculators this year.</li>  <li>The Berkshire Hathaway chief defended his tax practices<b>&nbsp;and made a fortune on Apple.</b></li>  <li><b>Here are billionaire investor Buffett's eight highlights of 2021.</b></li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45e08085f6ee8a3866f2c0f78fdc0f63\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett.</span></p><p><blockquote><ul><li>沃伦·巴菲特透露了两个大赌注，承认了错误，并抱怨了今年的投机者。</li><li>伯克希尔哈撒韦公司总裁为自己的税务做法辩护<b>在苹果上发了财。</b></li><li><b>以下是亿万富翁投资者巴菲特 2021 年的八大亮点。</b></li></ul><p class=\"t-img-caption\"><span>沃伦·巴菲特。</span></p></blockquote></p><p> Warren Buffett revealed a couple of billion-dollar investments, owned up to making several mistakes, and bemoaned the rampant speculation in markets this year.</p><p><blockquote>沃伦·巴菲特透露了几笔数十亿美元的投资，承认犯了几个错误，并哀叹今年市场上猖獗的投机行为。</blockquote></p><p> The renowned investor and Berkshire Hathaway CEO also weathered a tax exposé, resigned as a trustee of The Bill &amp; Melinda Gates Foundation, reflected on his decades-long friendship with Charlie Munger, and saw his Apple investment soared in value.</p><p><blockquote>这位著名投资者兼伯克希尔·哈撒韦公司首席执行官还经受住了税务风险，辞去了比尔及梅琳达·盖茨基金会受托人的职务，反思了他与查理·芒格数十年的友谊，并看到他在苹果的投资价值飙升。</blockquote></p><p> <b>Here are the 8 highlights of Buffett's year:</b></p><p><blockquote><b>以下是巴菲特今年的 8 个亮点：</b></blockquote></p><p> <b>Chevron and Verizon</b></p><p><blockquote><b>雪佛龙和威瑞森</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a6a660c35780e87560d9d7518a755bf\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>CNBC</span></p><p><blockquote><p class=\"t-img-caption\"><span>CNBC</span></p></blockquote></p><p> Buffett started the year in style with his&nbsp;fourth-quarter portfolio update&nbsp;in February. He revealed a $4.1 billion stake in&nbsp;Chevron&nbsp;and a $8.6 billion position in&nbsp;Verizon, answering the question of which&nbsp;mystery stocks&nbsp;he had been buying in recent months.</p><p><blockquote>巴菲特在二月份发布了第四季度投资组合更新，以时尚的方式开始了新的一年。他透露了雪佛龙41亿美元的股份和威瑞森86亿美元的头寸，回答了他最近几个月购买了哪些神秘股票的问题。</blockquote></p><p> Berkshire also trimmed the largest position in its portfolio,Apple, by 6%. Moreover, it halved its&nbsp;Wells Fargo&nbsp;holdings and exited&nbsp;JPMorgan,PNC, and&nbsp;M&amp;T&nbsp;after slashing its positions in those banks in 2020.</p><p><blockquote>伯克希尔还将其投资组合中最大的头寸苹果公司削减了 6%。此外，该公司在 2020 年削减了富国银行的持股比例后，将其持有的富国银行减半，并退出了摩根大通、PNC 和 M&amp;T。</blockquote></p><p> <b>The shareholder letter</b></p><p><blockquote><b>股东函件</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce8d9ea154fd9ca33192159634e60af4\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett&nbsp;published&nbsp;his annual letter to shareholders in February. The investor admitted to overpaying when he acquired Precision Castparts in 2016, trumpeted a bunch of Berkshire's subsidiaries, and contrasted his long-term shareholders with the speculators flocking to trendy assets such as meme stocks and cryptocurrencies.</p><p><blockquote>巴菲特于二月份发表了年度致股东信。这位投资者承认在 2016 年收购 Precision Castparts 时支付了过高的价格，大肆宣扬伯克希尔的一系列子公司，并将他的长期股东与涌向模因股票和加密货币等时尚资产的投机者进行了对比。</blockquote></p><p> <b>The annual meeting</b></p><p><blockquote><b>年会</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f9312fb972e2aa68627183025b2f91e\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Berkshire Hathaway CEO Warren Buffett talks to reporters while holding an ice cream at a trade show during the company's annual meeting in Omaha, Nebraska May 3, 2014.</span></p><p><blockquote><p class=\"t-img-caption\"><span>2014 年 5 月 3 日，伯克希尔哈撒韦公司首席执行官沃伦·巴菲特在内布拉斯加州奥马哈举行的公司年会上手持冰淇淋在贸易展上接受记者采访。</span></p></blockquote></p><p> Buffett warned rookie traders not to get cocky, bemoaned the lack of bargains in the market, rang the inflation alarm, and admitted to buying \"so-so\" stocks during Berkshire's&nbsp;annual shareholder meeting&nbsp;in May.</p><p><blockquote>巴菲特警告菜鸟交易员不要自大，哀叹市场缺乏便宜货，敲响通胀警钟，并承认在5月份伯克希尔年度股东大会期间购买了“一般般”的股票。</blockquote></p><p> The investor also complained about the surge in people treating the stock market like a casino. Moreover, he acknowledged that trimming his Apple stake and selling&nbsp;Costco&nbsp;were likely mistakes, and suggested he avoided bailing out the \"big four\" US airlines by exiting his positions in them in April 2020.</p><p><blockquote>这位投资者还抱怨说，越来越多的人把股市当成赌场。此外，他承认削减苹果股份和出售好市多可能是错误，并建议他在2020年4月退出美国“四大”航空公司的头寸，以避免救助它们。</blockquote></p><p> <b>The tax fracas</b></p><p><blockquote><b>税务纠纷</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61a44f30c0a7e35f28da432b35a28cf3\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett came under fire in June after ProPublica secured the tax returns of some of the wealthiest Americans, and reported the investor paid only $25 million in federal income tax between 2014 and 2018.</p><p><blockquote>6 月份，ProPublica 获得了一些最富有的美国人的纳税申报表，并报道称这位投资者在 2014 年至 2018 年间仅缴纳了 2500 万美元的联邦所得税，巴菲特因此受到抨击。</blockquote></p><p> The Berkshire boss&nbsp;defended himself&nbsp;by noting that he's pledged to give over 99% of his net worth to philanthropic causes, and has already donated about half of his Berkshire \"A\" shares since 2006.</p><p><blockquote>这位伯克希尔老板为自己辩护时指出，他承诺将超过 99% 的净资产捐赠给慈善事业，并且自 2006 年以来已经捐赠了大约一半的伯克希尔“A”股。</blockquote></p><p> <b>The Gates Foundation</b></p><p><blockquote><b>盖茨基金会</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f51d18855fcf5c00bab6b290a5814dd9\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Paul Sakuma/AP Photo</span></p><p><blockquote><p class=\"t-img-caption\"><span>保罗·佐久间/美联社照片</span></p></blockquote></p><p> Buffett&nbsp;resigned&nbsp;as a trustee of the Bill &amp; Melinda Gates Foundation in June. The investor explained that he was barely involved in the foundation's work, and had already stepped down from all corporate boards except his own.</p><p><blockquote>巴菲特于六月辞去了比尔及梅琳达·盖茨基金会受托人的职务。这位投资者解释说，他几乎没有参与基金会的工作，并且已经辞去了除自己以外的所有公司董事会职务。</blockquote></p><p> He also highlighted his annual donation of $4.1 billion in total to five charities, including the Gates Foundation.</p><p><blockquote>他还强调了他每年向包括盖茨基金会在内的五个慈善机构捐赠的总计41亿美元。</blockquote></p><p> <b>Friendship with Charlie Munger</b></p><p><blockquote><b>与查理·芒格的友谊</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad9020f65431108ca2a38c0e654349a2\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>SCOTT MORGAN/REUTERS</span></p><p><blockquote><p class=\"t-img-caption\"><span>斯科特·摩根/路透社</span></p></blockquote></p><p> Buffett and his business partner, Charlie Munger, discussed their decades-long friendship in a&nbsp;CNBC interview&nbsp;that aired in June.</p><p><blockquote>巴菲特和他的商业伙伴查理·芒格在 6 月份播出的 CNBC 采访中讨论了他们数十年的友谊。</blockquote></p><p></p><p> The pair sharply criticized&nbsp;Robinhood, and Munger called for tighter regulations on derivatives trading after&nbsp;Archegos Capital's meltdown. Buffett underlined the immense contribution that Munger has made to his life.</p><p><blockquote>两人严厉批评了 Robinhood，芒格呼吁在 Archegos Capital 倒闭后对衍生品交易实施更严格的监管。巴菲特强调了芒格对他一生做出的巨大贡献。</blockquote></p><p> <b>Buybacks, cash, and stock sales</b></p><p><blockquote><b>回购、现金和股票销售</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bfba0cfd98eca4c346f1fc53e1dd9bf\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Berkshire's&nbsp;third-quarter earnings&nbsp;underlined how hard it has been for Buffett to find bargain stocks and businesses this year. That has prompted him to stockpile cash and ramp up share buybacks.</p><p><blockquote>伯克希尔第三季度的收益凸显了巴菲特今年寻找廉价股票和业务有多么困难。这促使他储备现金并增加股票回购。</blockquote></p><p> The conglomerate sold a net $7 billion of stock in the year to September 30, revealed it was on track to repurchase a record $25 billion of stock this year, and grew its cash pile to an unprecedented $149 billion.</p><p><blockquote>截至 9 月 30 日的一年中，该企业集团净出售了 70 亿美元的股票，透露今年有望回购创纪录的 250 亿美元股票，并将其现金池增至前所未有的 1,490 亿美元。</blockquote></p><p> <b>The Apple bet</b></p><p><blockquote><b>苹果赌注</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6a735713e1ca5629e3e229ed80ea7fbb\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett's biggest success this year might well be his Apple investment.</p><p><blockquote>巴菲特今年最大的成功很可能是他的苹果投资。</blockquote></p><p> The investor plowed $36 billion into the iPhone maker between 2016 and 2018. The stock has&nbsp;surged&nbsp;by about a third this year, boosting the value of Berkshire's stake to more than $150 billion as of mid-December.</p><p><blockquote>这位投资者在2016年至2018年间向这家iPhone制造商投入了360亿美元。该股今年已飙升约三分之一，截至 12 月中旬，伯克希尔的股票价值已超过 1500 亿美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-stocks-portfolio-taxes-mistakes-review-2021-12\">Markets insider</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-stocks-portfolio-taxes-mistakes-review-2021-12","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117383431","content_text":"Warren Buffett revealed 2 big bets, defended his tax habits, and admitted several mistakes this year. Here are his 8 highlights of 2021.\n\nWarren Buffett revealed two big bets, admitted mistakes, and complained about speculators this year.\nThe Berkshire Hathaway chief defended his tax practices and made a fortune on Apple.\nHere are billionaire investor Buffett's eight highlights of 2021.\n\nWarren Buffett.\nWarren Buffett revealed a couple of billion-dollar investments, owned up to making several mistakes, and bemoaned the rampant speculation in markets this year.\nThe renowned investor and Berkshire Hathaway CEO also weathered a tax exposé, resigned as a trustee of The Bill & Melinda Gates Foundation, reflected on his decades-long friendship with Charlie Munger, and saw his Apple investment soared in value.\nHere are the 8 highlights of Buffett's year:\nChevron and Verizon\nCNBC\nBuffett started the year in style with his fourth-quarter portfolio update in February. He revealed a $4.1 billion stake in Chevron and a $8.6 billion position in Verizon, answering the question of which mystery stocks he had been buying in recent months.\nBerkshire also trimmed the largest position in its portfolio,Apple, by 6%. Moreover, it halved its Wells Fargo holdings and exited JPMorgan,PNC, and M&T after slashing its positions in those banks in 2020.\nThe shareholder letter\nWarren Buffett\nBuffett published his annual letter to shareholders in February. The investor admitted to overpaying when he acquired Precision Castparts in 2016, trumpeted a bunch of Berkshire's subsidiaries, and contrasted his long-term shareholders with the speculators flocking to trendy assets such as meme stocks and cryptocurrencies.\nThe annual meeting\nBerkshire Hathaway CEO Warren Buffett talks to reporters while holding an ice cream at a trade show during the company's annual meeting in Omaha, Nebraska May 3, 2014.\nBuffett warned rookie traders not to get cocky, bemoaned the lack of bargains in the market, rang the inflation alarm, and admitted to buying \"so-so\" stocks during Berkshire's annual shareholder meeting in May.\nThe investor also complained about the surge in people treating the stock market like a casino. Moreover, he acknowledged that trimming his Apple stake and selling Costco were likely mistakes, and suggested he avoided bailing out the \"big four\" US airlines by exiting his positions in them in April 2020.\nThe tax fracas\nWarren Buffett\nBuffett came under fire in June after ProPublica secured the tax returns of some of the wealthiest Americans, and reported the investor paid only $25 million in federal income tax between 2014 and 2018.\nThe Berkshire boss defended himself by noting that he's pledged to give over 99% of his net worth to philanthropic causes, and has already donated about half of his Berkshire \"A\" shares since 2006.\nThe Gates Foundation\nPaul Sakuma/AP Photo\nBuffett resigned as a trustee of the Bill & Melinda Gates Foundation in June. The investor explained that he was barely involved in the foundation's work, and had already stepped down from all corporate boards except his own.\nHe also highlighted his annual donation of $4.1 billion in total to five charities, including the Gates Foundation.\nFriendship with Charlie Munger\nSCOTT MORGAN/REUTERS\nBuffett and his business partner, Charlie Munger, discussed their decades-long friendship in a CNBC interview that aired in June.\nThe pair sharply criticized Robinhood, and Munger called for tighter regulations on derivatives trading after Archegos Capital's meltdown. Buffett underlined the immense contribution that Munger has made to his life.\nBuybacks, cash, and stock sales\nWarren Buffett\nBerkshire's third-quarter earnings underlined how hard it has been for Buffett to find bargain stocks and businesses this year. That has prompted him to stockpile cash and ramp up share buybacks.\nThe conglomerate sold a net $7 billion of stock in the year to September 30, revealed it was on track to repurchase a record $25 billion of stock this year, and grew its cash pile to an unprecedented $149 billion.\nThe Apple bet\nWarren Buffett\nBuffett's biggest success this year might well be his Apple investment.\nThe investor plowed $36 billion into the iPhone maker between 2016 and 2018. The stock has surged by about a third this year, boosting the value of Berkshire's stake to more than $150 billion as of mid-December.","news_type":1,"symbols_score_info":{"BRK.B":0.9,"AAPL":0.9,"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":3722,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693515317,"gmtCreate":1640049387245,"gmtModify":1640049387421,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"thanks for sharing&nbsp;","listText":"thanks for sharing&nbsp;","text":"thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693515317","repostId":"1135781276","repostType":2,"repost":{"id":"1135781276","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640044417,"share":"https://www.laohunote.com/m/news/1135781276?lang=zh_CN&edition=full","pubTime":"2021-12-21 07:53","market":"hk","language":"zh","title":"昨夜今晨：美三大指数均跌超1%，新能源汽车股重挫","url":"https://stock-news.laohu8.com/highlight/detail?id=1135781276","media":"老虎资讯综合","summary":"摘要：①特斯拉股价收跌3.5％，创两个月新低；②热门中概股周一收盘普跌，知乎跌近10%；③需求前景黯淡，国际原油期货结算价大幅收跌；④甲骨文重金砸入医疗保健行业 以283亿美元收购Cerner。\n\n海","content":"<blockquote>\n 摘要：①特斯拉股价收跌3.5％，创两个月新低；②热门中概股周一收盘普跌，知乎跌近10%；③需求前景黯淡，国际原油期货结算价大幅收跌；④甲骨文重金砸入医疗保健行业 以283亿美元收购Cerner。\n</blockquote>\n<p><b>海外市场</b></p>\n<p>1、美三大股指均跌超1%，特斯拉股价收跌3.5％创两个月新低</p>\n<p>拜登经济支出计划被推迟审议，美股三大指数集体收跌，纳指跌1.24%，道指跌1.23%，标普500指数跌1.14%。</p>\n<p>金融股普遍下行，高盛跌逾3%，富国银行下跌2.8%，摩根大通和美国银行分别下跌了约2%。特斯拉股价收跌3.5％，为10月21日以来最低水平。</p>\n<p>2、热门中概股周一收盘普跌 知乎跌超9%</p>\n<p>热门中概股普跌，知乎跌近10%，北京市网信办依法约谈处罚知乎网。</p>\n<p>其余中概股方面，哔哩哔哩跌超11%，贝壳跌超10%，雾芯科技跌近9%，百世集团跌超7%，阿里巴巴跌近6%，爱奇艺、HM、汽车之家跌超5%，拼多多、新东方、携程跌近5%，京东跌超4%，百度、网易、瑞幸粉单跌超3%。</p>\n<p>新能源汽车股中，蔚来汽车跌超6%，理想汽车、小鹏汽车跌超5%。</p>\n<p>3、欧股集体收跌 德国DAX30指数跌近2%</p>\n<p>欧股集体收跌：德国DAX30指数跌1.92%，法国CAC40指数跌0.82%，英国富时100指数跌0.99%，西班牙IBEX35指数跌0.83%，意大利富时MIB指数跌1.6%，欧洲斯托克50指数跌1.29%。</p>\n<p>4、需求前景黯淡 原油期货创12月3日来最低收盘价</p>\n<p>奥密克戎变异毒株迅速传播以及世界部分地区实施新的封锁限制措施，加剧了对原油需求的担忧。</p>\n<p>最终，国际原油期货结算价大幅收跌，WTI 1月原油期货到期交割日收跌2.63美元，跌幅3.71%，报68.23美元/桶。 WTI 2月原油期货收跌2.98%，报68.61美元/桶。 布伦特2月原油期货收3.00美元，跌幅4.08%，报71.52美元/桶。</p>\n<p>5、黄金期货周一收跌0.6% 失守1800美元</p>\n<p>美联储激进加息的前景在短期内损害了投资者对股票和贵金属的兴趣。最终，COMEX 2月黄金期货结算价收跌0.6%，报1794.60美元/盎司。</p>\n<p>6、土耳其里拉持续贬值 土股市一天内两次触发熔断</p>\n<p>当地时间20日，土耳其里拉持续贬值，对美元汇率持续刷新最低纪录，一度跌破17.9。土耳其里拉对欧元则跌破20，创历史新低。与此同时，土耳其伊斯坦布尔100指数暴跌，两次触发熔断机制，当天收盘时跌幅超过8.2%。这是继17日后，土耳其股市第二次一天内两次熔断。</p>\n<p><b>国际宏观</b></p>\n<p>1、民主党进步派不甘心颗粒无收 敦促拜登动用行政权力绕过Manchin阻挠</p>\n<p>鉴于当前的法案事实上已被参议员Joe Manchin扼杀，民主党进步派敦促美国总统乔·拜登利用他的行政权力，至少将他经济议程的一部分内容付诸实施。</p>\n<p>国会进步派党团领袖、众议员Pramila Jayapal周一表示，拜登可以在一些气候问题和减轻学生贷款负担方面采取行动，但没有提供细节。</p>\n<p>2、掌握关键票的民主党“叛徒”反对后 拜登2万亿刺激要瘦身？美参院计划明年1月表决</p>\n<p>掌握美国参议院关键一票的民主党议员曼钦让拜登政府今年内出台1.75万亿美元经济刺激案的希望成为泡影。尽管如此，参议院仍计划明年1月就进行相关投票表决。但曼钦暗示，要获得通过，民主党可能必须让方案“瘦身”。</p>\n<p>3、世卫组织：2022 年必须终止新冠肺炎大流行</p>\n<p>当地时间 20 日，世界卫生组织总干事谭德塞在日内瓦召开的新闻发布会上表示，2021 年新冠肺炎疫情夺走了至少 330 万人的生命，如今每周依然有 50000 人直接死于新冠肺炎。</p>\n<p>谭德塞还表示，数据表明，奥密克戎变异毒株的传播速度快于德尔塔毒株，新冠疫苗接种者或是康复者有可能再次感染该病毒。疫情不仅干扰了人们的正常生活，甚至扰乱其他疾病的筛查、治疗和服务。</p>\n<p>4、2021年全球并购交易活动首次突破5万亿美元 创历史纪录</p>\n<p>全球并购（M&amp;A）活动在2021年打破了历史纪录，因大量资本和天价估值助长了疯狂的交易水平。</p>\n<p>Dealogic的数据显示，全球并购活动价值有史以来首次突破5万亿美元。截至12月16日，并购交易额增长63%，达到5.63万亿美元，轻松超过了2007年金融危机前4.42万亿美元的记录。</p>\n<p>5、世界经济论坛2022年年会将推迟至明年初夏举行</p>\n<p>当地时间12月20日，世界经济论坛官方宣布，鉴于全球新冠疫情的不确定性，将推迟原计划于2022年1月17日至21日在瑞士达沃斯举行的世界经济论坛年会。</p>\n<p>6、英国首相：目前不采取新的防疫措施 但保留相关可能性</p>\n<p>当地时间12月20日下午，英国首相约翰逊在数小时的内阁会议结束后表示，目前不采取新的防疫措施，但保留采取进一步措施的可能性。</p>\n<p>7、美国环保局计划收紧汽车燃油里程标准</p>\n<p>当地时间12月20日，美国环境保护局计划将美国2026年前汽车的燃料排放标准收紧至每加仑汽油平均行驶约40英里(64.37公里)，取代特朗普时期实行的宽松标准。</p>\n<p>根据美国环保局的一份情况说明书显示，最新的标准比环保局于8月首次提出的每加仑汽油平均行驶约38英里(61.15公里)的标准有所提高。该标准将于2021年年底在美国政府《联邦公报》上公布，并于60天后生效。</p>\n<p>8、美联储逆回购工具的需求量在年底行将达到2万亿美元</p>\n<p>即使有更多供应涌入，美元融资市场仍将充斥着过剩流动性，并随着年末临近而加剧。因此，摩根大通策略师估计美联储隔夜逆回购工具的使用量可能在12月31日飙升至1.9至2万亿美元。</p>\n<p>9、世界贸易组织：三季度全球商品贸易量出现下降趋势</p>\n<p>世界贸易组织周一发布的一份报告显示，由于新冠疫情和供应链中断，导致第三季度全球商品贸易量下降0.8%，结束了连续12个月的强劲增长。</p>\n<p><b>公司新闻</b></p>\n<p>1.&nbsp;<a href=\"https://laohu8.com/NW/1161377103\" target=\"_blank\">美光科技第一财季营收76.9亿美元，净利润23.1亿美元</a></p>\n<p><a href=\"https://laohu8.com/S/MU\">美光科技</a>于周一盘后公布了2022财年第一财季业绩，财报显示美光科技第一财季营收为76.9亿美元，上季度为82.7亿美元，去年同期为57.7亿美元；毛利率为46.4%，上季度为47.3%，去年同期为30.1%；GAAP净利润为23.06亿美元，每股盈利2.04美元。</p>\n<p>2.&nbsp;<a href=\"https://laohu8.com/NW/1148244171\" target=\"_blank\">耐克第二财季业绩超预期，大中华区营收下降20%</a></p>\n<p><a href=\"https://laohu8.com/S/NKE\">耐克</a>于美股盘后公布了第二财季业绩，财报显示耐克第二季度营收114亿美元，市场预估112.6亿美元；第二季度大中华营收18.4亿美元，市场预估21.4亿美元；第二季度毛利率45.9%，市场预估44.2%；第二季度每股收益83美分，上年同期78美分。</p>\n<p>3.&nbsp;<a href=\"https://laohu8.com/NW/2192138880\" target=\"_blank\">甲骨文重金砸入医疗保健行业 以283亿美元收购Cerner</a></p>\n<p>甲骨文同意以大约283亿美元的代价收购医疗记录系统供应商Cerner Corp．，为这家软件制造商带来医疗保健行业的广泛客户基础，提振其云计算和数据库业务。</p>\n<p>甲骨文周一公告称，将以每股95美元现金收购Cerner。这是甲骨文历史上最大的全现金交易。甲骨文股价下跌2%，而Cerner股票停牌。</p>\n<p>4、<a href=\"https://laohu8.com/NW/2192904708\" target=\"_blank\">美国造车新势力Rivian产能受限，股价创新低</a></p>\n<p>日前，美国造车新势力Rivian表示，由于供应链的限制，它可能达不到它为自己设定的2021年生产目标。该公司透露由于供应问题，预计将在2021年交付以“几百辆”车，而不是此前计划的1200辆。在公布这条消息之后，其股价已经跌至其作为上市公司开始交易以来的最低点。</p>\n<p>5、<a href=\"https://laohu8.com/NW/2193813383\" target=\"_blank\">消息称苹果M2处理器开发已近完成，采用台积电4纳米制程</a></p>\n<p>12月20日消息，据供应链业者消息，苹果M2系列处理器开发已近完成，将采用台积电4纳米制程量产，未来Apple Silicon将以每18个月为周期进行升级。</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>昨夜今晨：美三大指数均跌超1%，新能源汽车股重挫</title>\n<style 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n昨夜今晨：美三大指数均跌超1%，新能源汽车股重挫\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-12-21 07:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n 摘要：①特斯拉股价收跌3.5％，创两个月新低；②热门中概股周一收盘普跌，知乎跌近10%；③需求前景黯淡，国际原油期货结算价大幅收跌；④甲骨文重金砸入医疗保健行业 以283亿美元收购Cerner。\n</blockquote>\n<p><b>海外市场</b></p>\n<p>1、美三大股指均跌超1%，特斯拉股价收跌3.5％创两个月新低</p>\n<p>拜登经济支出计划被推迟审议，美股三大指数集体收跌，纳指跌1.24%，道指跌1.23%，标普500指数跌1.14%。</p>\n<p>金融股普遍下行，高盛跌逾3%，富国银行下跌2.8%，摩根大通和美国银行分别下跌了约2%。特斯拉股价收跌3.5％，为10月21日以来最低水平。</p>\n<p>2、热门中概股周一收盘普跌 知乎跌超9%</p>\n<p>热门中概股普跌，知乎跌近10%，北京市网信办依法约谈处罚知乎网。</p>\n<p>其余中概股方面，哔哩哔哩跌超11%，贝壳跌超10%，雾芯科技跌近9%，百世集团跌超7%，阿里巴巴跌近6%，爱奇艺、HM、汽车之家跌超5%，拼多多、新东方、携程跌近5%，京东跌超4%，百度、网易、瑞幸粉单跌超3%。</p>\n<p>新能源汽车股中，蔚来汽车跌超6%，理想汽车、小鹏汽车跌超5%。</p>\n<p>3、欧股集体收跌 德国DAX30指数跌近2%</p>\n<p>欧股集体收跌：德国DAX30指数跌1.92%，法国CAC40指数跌0.82%，英国富时100指数跌0.99%，西班牙IBEX35指数跌0.83%，意大利富时MIB指数跌1.6%，欧洲斯托克50指数跌1.29%。</p>\n<p>4、需求前景黯淡 原油期货创12月3日来最低收盘价</p>\n<p>奥密克戎变异毒株迅速传播以及世界部分地区实施新的封锁限制措施，加剧了对原油需求的担忧。</p>\n<p>最终，国际原油期货结算价大幅收跌，WTI 1月原油期货到期交割日收跌2.63美元，跌幅3.71%，报68.23美元/桶。 WTI 2月原油期货收跌2.98%，报68.61美元/桶。 布伦特2月原油期货收3.00美元，跌幅4.08%，报71.52美元/桶。</p>\n<p>5、黄金期货周一收跌0.6% 失守1800美元</p>\n<p>美联储激进加息的前景在短期内损害了投资者对股票和贵金属的兴趣。最终，COMEX 2月黄金期货结算价收跌0.6%，报1794.60美元/盎司。</p>\n<p>6、土耳其里拉持续贬值 土股市一天内两次触发熔断</p>\n<p>当地时间20日，土耳其里拉持续贬值，对美元汇率持续刷新最低纪录，一度跌破17.9。土耳其里拉对欧元则跌破20，创历史新低。与此同时，土耳其伊斯坦布尔100指数暴跌，两次触发熔断机制，当天收盘时跌幅超过8.2%。这是继17日后，土耳其股市第二次一天内两次熔断。</p>\n<p><b>国际宏观</b></p>\n<p>1、民主党进步派不甘心颗粒无收 敦促拜登动用行政权力绕过Manchin阻挠</p>\n<p>鉴于当前的法案事实上已被参议员Joe Manchin扼杀，民主党进步派敦促美国总统乔·拜登利用他的行政权力，至少将他经济议程的一部分内容付诸实施。</p>\n<p>国会进步派党团领袖、众议员Pramila Jayapal周一表示，拜登可以在一些气候问题和减轻学生贷款负担方面采取行动，但没有提供细节。</p>\n<p>2、掌握关键票的民主党“叛徒”反对后 拜登2万亿刺激要瘦身？美参院计划明年1月表决</p>\n<p>掌握美国参议院关键一票的民主党议员曼钦让拜登政府今年内出台1.75万亿美元经济刺激案的希望成为泡影。尽管如此，参议院仍计划明年1月就进行相关投票表决。但曼钦暗示，要获得通过，民主党可能必须让方案“瘦身”。</p>\n<p>3、世卫组织：2022 年必须终止新冠肺炎大流行</p>\n<p>当地时间 20 日，世界卫生组织总干事谭德塞在日内瓦召开的新闻发布会上表示，2021 年新冠肺炎疫情夺走了至少 330 万人的生命，如今每周依然有 50000 人直接死于新冠肺炎。</p>\n<p>谭德塞还表示，数据表明，奥密克戎变异毒株的传播速度快于德尔塔毒株，新冠疫苗接种者或是康复者有可能再次感染该病毒。疫情不仅干扰了人们的正常生活，甚至扰乱其他疾病的筛查、治疗和服务。</p>\n<p>4、2021年全球并购交易活动首次突破5万亿美元 创历史纪录</p>\n<p>全球并购（M&amp;A）活动在2021年打破了历史纪录，因大量资本和天价估值助长了疯狂的交易水平。</p>\n<p>Dealogic的数据显示，全球并购活动价值有史以来首次突破5万亿美元。截至12月16日，并购交易额增长63%，达到5.63万亿美元，轻松超过了2007年金融危机前4.42万亿美元的记录。</p>\n<p>5、世界经济论坛2022年年会将推迟至明年初夏举行</p>\n<p>当地时间12月20日，世界经济论坛官方宣布，鉴于全球新冠疫情的不确定性，将推迟原计划于2022年1月17日至21日在瑞士达沃斯举行的世界经济论坛年会。</p>\n<p>6、英国首相：目前不采取新的防疫措施 但保留相关可能性</p>\n<p>当地时间12月20日下午，英国首相约翰逊在数小时的内阁会议结束后表示，目前不采取新的防疫措施，但保留采取进一步措施的可能性。</p>\n<p>7、美国环保局计划收紧汽车燃油里程标准</p>\n<p>当地时间12月20日，美国环境保护局计划将美国2026年前汽车的燃料排放标准收紧至每加仑汽油平均行驶约40英里(64.37公里)，取代特朗普时期实行的宽松标准。</p>\n<p>根据美国环保局的一份情况说明书显示，最新的标准比环保局于8月首次提出的每加仑汽油平均行驶约38英里(61.15公里)的标准有所提高。该标准将于2021年年底在美国政府《联邦公报》上公布，并于60天后生效。</p>\n<p>8、美联储逆回购工具的需求量在年底行将达到2万亿美元</p>\n<p>即使有更多供应涌入，美元融资市场仍将充斥着过剩流动性，并随着年末临近而加剧。因此，摩根大通策略师估计美联储隔夜逆回购工具的使用量可能在12月31日飙升至1.9至2万亿美元。</p>\n<p>9、世界贸易组织：三季度全球商品贸易量出现下降趋势</p>\n<p>世界贸易组织周一发布的一份报告显示，由于新冠疫情和供应链中断，导致第三季度全球商品贸易量下降0.8%，结束了连续12个月的强劲增长。</p>\n<p><b>公司新闻</b></p>\n<p>1.&nbsp;<a href=\"https://laohu8.com/NW/1161377103\" target=\"_blank\">美光科技第一财季营收76.9亿美元，净利润23.1亿美元</a></p>\n<p><a href=\"https://laohu8.com/S/MU\">美光科技</a>于周一盘后公布了2022财年第一财季业绩，财报显示美光科技第一财季营收为76.9亿美元，上季度为82.7亿美元，去年同期为57.7亿美元；毛利率为46.4%，上季度为47.3%，去年同期为30.1%；GAAP净利润为23.06亿美元，每股盈利2.04美元。</p>\n<p>2.&nbsp;<a href=\"https://laohu8.com/NW/1148244171\" target=\"_blank\">耐克第二财季业绩超预期，大中华区营收下降20%</a></p>\n<p><a href=\"https://laohu8.com/S/NKE\">耐克</a>于美股盘后公布了第二财季业绩，财报显示耐克第二季度营收114亿美元，市场预估112.6亿美元；第二季度大中华营收18.4亿美元，市场预估21.4亿美元；第二季度毛利率45.9%，市场预估44.2%；第二季度每股收益83美分，上年同期78美分。</p>\n<p>3.&nbsp;<a href=\"https://laohu8.com/NW/2192138880\" target=\"_blank\">甲骨文重金砸入医疗保健行业 以283亿美元收购Cerner</a></p>\n<p>甲骨文同意以大约283亿美元的代价收购医疗记录系统供应商Cerner Corp．，为这家软件制造商带来医疗保健行业的广泛客户基础，提振其云计算和数据库业务。</p>\n<p>甲骨文周一公告称，将以每股95美元现金收购Cerner。这是甲骨文历史上最大的全现金交易。甲骨文股价下跌2%，而Cerner股票停牌。</p>\n<p>4、<a href=\"https://laohu8.com/NW/2192904708\" target=\"_blank\">美国造车新势力Rivian产能受限，股价创新低</a></p>\n<p>日前，美国造车新势力Rivian表示，由于供应链的限制，它可能达不到它为自己设定的2021年生产目标。该公司透露由于供应问题，预计将在2021年交付以“几百辆”车，而不是此前计划的1200辆。在公布这条消息之后，其股价已经跌至其作为上市公司开始交易以来的最低点。</p>\n<p>5、<a href=\"https://laohu8.com/NW/2193813383\" target=\"_blank\">消息称苹果M2处理器开发已近完成，采用台积电4纳米制程</a></p>\n<p>12月20日消息，据供应链业者消息，苹果M2系列处理器开发已近完成，将采用台积电4纳米制程量产，未来Apple Silicon将以每18个月为周期进行升级。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135781276","content_text":"摘要：①特斯拉股价收跌3.5％，创两个月新低；②热门中概股周一收盘普跌，知乎跌近10%；③需求前景黯淡，国际原油期货结算价大幅收跌；④甲骨文重金砸入医疗保健行业 以283亿美元收购Cerner。\n\n海外市场\n1、美三大股指均跌超1%，特斯拉股价收跌3.5％创两个月新低\n拜登经济支出计划被推迟审议，美股三大指数集体收跌，纳指跌1.24%，道指跌1.23%，标普500指数跌1.14%。\n金融股普遍下行，高盛跌逾3%，富国银行下跌2.8%，摩根大通和美国银行分别下跌了约2%。特斯拉股价收跌3.5％，为10月21日以来最低水平。\n2、热门中概股周一收盘普跌 知乎跌超9%\n热门中概股普跌，知乎跌近10%，北京市网信办依法约谈处罚知乎网。\n其余中概股方面，哔哩哔哩跌超11%，贝壳跌超10%，雾芯科技跌近9%，百世集团跌超7%，阿里巴巴跌近6%，爱奇艺、HM、汽车之家跌超5%，拼多多、新东方、携程跌近5%，京东跌超4%，百度、网易、瑞幸粉单跌超3%。\n新能源汽车股中，蔚来汽车跌超6%，理想汽车、小鹏汽车跌超5%。\n3、欧股集体收跌 德国DAX30指数跌近2%\n欧股集体收跌：德国DAX30指数跌1.92%，法国CAC40指数跌0.82%，英国富时100指数跌0.99%，西班牙IBEX35指数跌0.83%，意大利富时MIB指数跌1.6%，欧洲斯托克50指数跌1.29%。\n4、需求前景黯淡 原油期货创12月3日来最低收盘价\n奥密克戎变异毒株迅速传播以及世界部分地区实施新的封锁限制措施，加剧了对原油需求的担忧。\n最终，国际原油期货结算价大幅收跌，WTI 1月原油期货到期交割日收跌2.63美元，跌幅3.71%，报68.23美元/桶。 WTI 2月原油期货收跌2.98%，报68.61美元/桶。 布伦特2月原油期货收3.00美元，跌幅4.08%，报71.52美元/桶。\n5、黄金期货周一收跌0.6% 失守1800美元\n美联储激进加息的前景在短期内损害了投资者对股票和贵金属的兴趣。最终，COMEX 2月黄金期货结算价收跌0.6%，报1794.60美元/盎司。\n6、土耳其里拉持续贬值 土股市一天内两次触发熔断\n当地时间20日，土耳其里拉持续贬值，对美元汇率持续刷新最低纪录，一度跌破17.9。土耳其里拉对欧元则跌破20，创历史新低。与此同时，土耳其伊斯坦布尔100指数暴跌，两次触发熔断机制，当天收盘时跌幅超过8.2%。这是继17日后，土耳其股市第二次一天内两次熔断。\n国际宏观\n1、民主党进步派不甘心颗粒无收 敦促拜登动用行政权力绕过Manchin阻挠\n鉴于当前的法案事实上已被参议员Joe Manchin扼杀，民主党进步派敦促美国总统乔·拜登利用他的行政权力，至少将他经济议程的一部分内容付诸实施。\n国会进步派党团领袖、众议员Pramila Jayapal周一表示，拜登可以在一些气候问题和减轻学生贷款负担方面采取行动，但没有提供细节。\n2、掌握关键票的民主党“叛徒”反对后 拜登2万亿刺激要瘦身？美参院计划明年1月表决\n掌握美国参议院关键一票的民主党议员曼钦让拜登政府今年内出台1.75万亿美元经济刺激案的希望成为泡影。尽管如此，参议院仍计划明年1月就进行相关投票表决。但曼钦暗示，要获得通过，民主党可能必须让方案“瘦身”。\n3、世卫组织：2022 年必须终止新冠肺炎大流行\n当地时间 20 日，世界卫生组织总干事谭德塞在日内瓦召开的新闻发布会上表示，2021 年新冠肺炎疫情夺走了至少 330 万人的生命，如今每周依然有 50000 人直接死于新冠肺炎。\n谭德塞还表示，数据表明，奥密克戎变异毒株的传播速度快于德尔塔毒株，新冠疫苗接种者或是康复者有可能再次感染该病毒。疫情不仅干扰了人们的正常生活，甚至扰乱其他疾病的筛查、治疗和服务。\n4、2021年全球并购交易活动首次突破5万亿美元 创历史纪录\n全球并购（M&A）活动在2021年打破了历史纪录，因大量资本和天价估值助长了疯狂的交易水平。\nDealogic的数据显示，全球并购活动价值有史以来首次突破5万亿美元。截至12月16日，并购交易额增长63%，达到5.63万亿美元，轻松超过了2007年金融危机前4.42万亿美元的记录。\n5、世界经济论坛2022年年会将推迟至明年初夏举行\n当地时间12月20日，世界经济论坛官方宣布，鉴于全球新冠疫情的不确定性，将推迟原计划于2022年1月17日至21日在瑞士达沃斯举行的世界经济论坛年会。\n6、英国首相：目前不采取新的防疫措施 但保留相关可能性\n当地时间12月20日下午，英国首相约翰逊在数小时的内阁会议结束后表示，目前不采取新的防疫措施，但保留采取进一步措施的可能性。\n7、美国环保局计划收紧汽车燃油里程标准\n当地时间12月20日，美国环境保护局计划将美国2026年前汽车的燃料排放标准收紧至每加仑汽油平均行驶约40英里(64.37公里)，取代特朗普时期实行的宽松标准。\n根据美国环保局的一份情况说明书显示，最新的标准比环保局于8月首次提出的每加仑汽油平均行驶约38英里(61.15公里)的标准有所提高。该标准将于2021年年底在美国政府《联邦公报》上公布，并于60天后生效。\n8、美联储逆回购工具的需求量在年底行将达到2万亿美元\n即使有更多供应涌入，美元融资市场仍将充斥着过剩流动性，并随着年末临近而加剧。因此，摩根大通策略师估计美联储隔夜逆回购工具的使用量可能在12月31日飙升至1.9至2万亿美元。\n9、世界贸易组织：三季度全球商品贸易量出现下降趋势\n世界贸易组织周一发布的一份报告显示，由于新冠疫情和供应链中断，导致第三季度全球商品贸易量下降0.8%，结束了连续12个月的强劲增长。\n公司新闻\n1. 美光科技第一财季营收76.9亿美元，净利润23.1亿美元\n美光科技于周一盘后公布了2022财年第一财季业绩，财报显示美光科技第一财季营收为76.9亿美元，上季度为82.7亿美元，去年同期为57.7亿美元；毛利率为46.4%，上季度为47.3%，去年同期为30.1%；GAAP净利润为23.06亿美元，每股盈利2.04美元。\n2. 耐克第二财季业绩超预期，大中华区营收下降20%\n耐克于美股盘后公布了第二财季业绩，财报显示耐克第二季度营收114亿美元，市场预估112.6亿美元；第二季度大中华营收18.4亿美元，市场预估21.4亿美元；第二季度毛利率45.9%，市场预估44.2%；第二季度每股收益83美分，上年同期78美分。\n3. 甲骨文重金砸入医疗保健行业 以283亿美元收购Cerner\n甲骨文同意以大约283亿美元的代价收购医疗记录系统供应商Cerner Corp．，为这家软件制造商带来医疗保健行业的广泛客户基础，提振其云计算和数据库业务。\n甲骨文周一公告称，将以每股95美元现金收购Cerner。这是甲骨文历史上最大的全现金交易。甲骨文股价下跌2%，而Cerner股票停牌。\n4、美国造车新势力Rivian产能受限，股价创新低\n日前，美国造车新势力Rivian表示，由于供应链的限制，它可能达不到它为自己设定的2021年生产目标。该公司透露由于供应问题，预计将在2021年交付以“几百辆”车，而不是此前计划的1200辆。在公布这条消息之后，其股价已经跌至其作为上市公司开始交易以来的最低点。\n5、消息称苹果M2处理器开发已近完成，采用台积电4纳米制程\n12月20日消息，据供应链业者消息，苹果M2系列处理器开发已近完成，将采用台积电4纳米制程量产，未来Apple Silicon将以每18个月为周期进行升级。","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693193788,"gmtCreate":1639981424920,"gmtModify":1639981425092,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"thanks for sharing&nbsp;","listText":"thanks for sharing&nbsp;","text":"thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693193788","repostId":"1183475424","repostType":4,"repost":{"id":"1183475424","kind":"news","pubTimestamp":1639967829,"share":"https://www.laohunote.com/m/news/1183475424?lang=zh_CN&edition=full","pubTime":"2021-12-20 10:37","market":"us","language":"en","title":"Apple Stock: The Strongest Shield Against Rate Hikes<blockquote>苹果股票：抵御加息的最强盾牌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183475424","media":"Seeking Alpha","summary":"Summary\n\nWith inflation running its hottest course in 40 years, the Federal Reserve has decided to a","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>With inflation running its hottest course in 40 years, the Federal Reserve has decided to accelerate the stimulus tapering schedule and prepare for raising interest rates as early as March.</li>  <li>While rate hikes have historically deterred investors from growth stocks due to concerns over eroding valuation prospects, the Apple stock has remained largely resilient.</li>  <li>Apple is expected to realize additional upsides ahead, sustained by robust demand for its existing offerings and new opportunities arising from nascent technologies like AR/VR and autonomous vehicles.</li>  <li>Its strong net cash position also provides sufficient dry powder to fund additional growth in coming years without incurring additional costs of capital amidst rising interest rates.</li>  <li>As such, Apple's bullish thesis remains intact as it approaches a $3 trillion valuation, despite broader market valuation risks ahead.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fdf73ac36a98ce54b343c7e6b613f4d9\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>guvendemir/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>随着通胀处于40年来最热的阶段，美联储决定加快刺激缩减时间表，并准备最早在3月份加息。</li><li>尽管由于担心估值前景恶化，加息历来会阻止投资者购买成长型股票，但苹果股票在很大程度上仍然具有弹性。</li><li>在对其现有产品的强劲需求以及 AR/VR 和自动驾驶汽车等新兴技术带来的新机遇的支持下，苹果预计将在未来实现额外的上涨空间。</li><li>其强劲的净现金状况也提供了足够的干粉来为未来几年的额外增长提供资金，而不会在利率上升的情况下产生额外的资本成本。</li><li>因此，尽管未来存在更广泛的市场估值风险，但苹果的看涨论点在其估值接近 3 万亿美元时仍然完好无损。</li></ul><p class=\"t-img-caption\"><span>guvendemir/iStock 未通过 Getty Images 发布</span></p></blockquote></p><p> As one of the world’s best performing stocks, Apple(NASDAQ:AAPL)&nbsp;has gained close to 40% this year. The stock, which last peaked at $182.13 not too long ago, is currently less than 7% from being the first U.S. publicly listed company to reach a $3 trillion market value and single-handedly accounts for about 15% of the tech-heavy Nasdaq 100’s performance. Apple’s market value has grown by&nbsp;more than 220x&nbsp;since the late 1990s, buoyed by the company’s continuous ability to capture robust demand for its innovative portfolio of products and services.</p><p><blockquote>作为全球表现最好的股票之一，苹果（纳斯达克股票代码：AAPL）今年上涨了近 40%。该股不久前曾触及 182.13 美元的最高点，目前距离成为第一家市值达到 3 万亿美元的美国上市公司还不到 7%，单枪匹马就占据了以科技股为主的纳斯达克 100 指数业绩的约 15%。自 20 世纪 90 年代末以来，苹果的市值增长了 220 多倍，这得益于该公司持续能够抓住对其创新产品和服务组合的强劲需求。</blockquote></p><p> And Apple’s strong fundamentals are expected to help the stock defy adverse impacts from the imminent rate hikes beginning next year. With inflation running at its hottest in almost four decades, the Federal Reserve decided Wednesday that it will increase the pace at which it is dialing back on the $120 billion monthly bond repurchasing program from $15 billion per month, which began in November, to&nbsp;$30 billion per month. This would effectively conclude the stimulus program, put in place at the onset of the pandemic, coming March, rather than in&nbsp;July as initially planned. Rate hikes are expected to begin soon after to counter rising price pressures, with Federal Reserve Chair Jerome Powell affirming that the process will only begin after tapering ends and at a gradual pace. The latest dot plot indicates potential for the Federal Fund Rate to lift-off from near-zero beginning early 2022 with three quarter-point increases, plus another three in 2023 and two more in 2024. If materialized, the process would up the funds rate to 2.1% by 2024.</p><p><blockquote>苹果强劲的基本面有望帮助该股抵御明年开始即将加息带来的不利影响。随着通胀达到近四十年来的最高点，美联储周三决定加快每月 1200 亿美元债券回购计划的步伐，从 11 月开始的每月 150 亿美元降至每月 300 亿美元。这将有效地结束疫情爆发时实施的刺激计划，即明年3月，而不是最初计划的7月。加息预计将很快开始，以应对不断上升的价格压力，美联储主席杰罗姆·鲍威尔确认，这一过程只有在缩减规模结束后才会开始，并且步伐渐进。最新的点阵图表明，联邦基金利率有可能从 2022 年初的接近于零的水平上升，并上调三个四分之一点，2023 年再上调三个四分之一点，2024 年再上调两个。如果实现，到 2024 年，这一过程将把基金利率提高到 2.1%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2ef3ca2d04c1b55a465e12bfae79890e\" tg-width=\"640\" tg-height=\"315\" width=\"100%\" height=\"auto\"><span>Source: Bloomberg</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：彭博社</span></p></blockquote></p><p> While rate hikes typically cause investors to turn risk averse due to concerns over&nbsp;faster erosion of value on future gains&nbsp;and stalled business growth due to rising costs of capital, especially for high-growth stocks, Apple gained close to 3% upon release of the Fed’s update on policy tightening. The stock closed at $179.30 on December 15th, nearing its peak of $182 on Monday. Apple’s rally, along with similar uptrends observed across other mega-cap tech stocks, accordingly drove intra-day gains of 2.4% for the Nasdaq 100 following the Federal Reserve’s update, indicating investors’ preference to park their money in companies with robust growth prospects to counter risks from the impending rate increases.</p><p><blockquote>虽然加息通常会导致投资者规避风险，因为他们担心未来收益的价值会更快地受到侵蚀，而且由于资本成本上升（尤其是高增长股票）导致业务增长停滞，但在美联储发布紧缩政策的最新消息后，苹果股市上涨了近3%。该股12月15日收于179.30美元，接近周一182美元的峰值。在美联储发布最新消息后，苹果的反弹以及其他大型科技股的类似上升趋势相应地推动了纳斯达克 100 指数盘中上涨 2.4%，这表明投资者更倾向于将资金投入增长前景强劲的公司，以应对即将加息带来的风险。</blockquote></p><p> With the coming holiday season a boon for Apple’s December-quarter sales, the stock’s valuation is expected to enter in the $3 trillion territory sooner than expected. Continued robust demand observed across Apple’s entire product line, generous share buy-backs, and additional revenue contributions expected within the foreseeable future resulting from new, cutting-edge products will also be key catalysts to support the company’s persistently strong fundamentals and keep the stock’s valuation above $3 trillion despite the impending rate hikes. Considering recent developments to the broader market and Apple’s growth prospects, we are raising our 12-month price target for the stock to $209.43.</p><p><blockquote>随着即将到来的假日季对苹果 12 月季度的销售额有利，该股估值预计将比预期更早进入 3 万亿美元大关。苹果整个产品线的持续强劲需求、慷慨的股票回购，以及预计在可预见的未来，新的尖端产品将带来额外的收入贡献，也将成为支撑公司持续强劲基本面的关键催化剂，并在即将加息的情况下将使股票估值保持在 3 万亿美元以上。考虑到大盘的近期发展和苹果的增长前景，我们将该股的 12 个月目标价上调至 209.43 美元。</blockquote></p><p> <b>FY 2021 Overview and Recap of Fundamental Prospects</b></p><p><blockquote><b>2021财年概述及基本前景回顾</b></blockquote></p><p></p><p> Fiscal 2021 was a big year for Apple. The company’s revenues for the year grew 33% from fiscal 2020 to $366 billion, despite on-and-off store closures resulting from recurring coronavirus outbreaks and supply chain constraints that have led to more than $9 billion in lost sales. Every product and service segment achieved record-setting revenues with more than 20% growth from previous year results. Much of the year’s success were attributable to a series of new product launches and feature upgrades. The most notable of which included the 5G-enabled family of iPhone 12s and iPhone 13s, as well as the M1-powered MacBook Pro and iPad Pro.</p><p><blockquote>2021财年对苹果来说是重要的一年。尽管冠状病毒反复爆发和供应链限制导致门店断断续续关闭，导致销售额损失超过 90 亿美元，但该公司全年的收入比 2020 财年增长了 33%，达到 3660 亿美元。每个产品和服务部门都实现了创纪录的收入，比上一年的业绩增长了20%以上。今年的成功很大程度上归功于一系列新产品的发布和功能的升级。其中最引人注目的包括支持5G的iPhone 12s和iPhone 13s系列，以及支持M1的MacBook Pro和iPad Pro。</blockquote></p><p> <b>Key Developments in Products</b></p><p><blockquote><b>产品的主要发展</b></blockquote></p><p> iPhone sales grew by 39% this year, the most amongst other segments, and drove more than half of Apple’s fiscal 2021 revenues. The results were a stark contrast to last year’s slump in demand for the mobile device when consumers braced for pandemic-driven economic uncertainties. iPhone sales are expected to remain robust in coming years as global 5G device upgrades continue to gather pace. The likely launch of a more affordable 5G-enabled iPhone SE in 2022 is also expected to further Apple’s market share gains by&nbsp;attracting switchers&nbsp;from “more than a billion non-premium Android users”, and drive the active installed base to another all-time high. The anticipated momentum is further corroborated by iPhone sales patterns observed in recent quarters following the launch of 5G-enabled iPhone 12s and iPhone 13s, where the number of upgraders and switchers grew by&nbsp;strong double digits. Apple’s strong ties with cell-phone carriers is also expected to drive meaningful iPhone sales contributions in coming years. Reputable wireless carriers in the U.S. like&nbsp;Verizon&nbsp;and&nbsp;AT&amp;T&nbsp;have already been keen on promoting the sale of 5G-enabled devices like the iPhone 12 and iPhone 13 to encourage migration to the 5G network that they have spent billions of dollars on building across the nation. Telecom companies around the world are expected to spend&nbsp;more than $700 billion&nbsp;over the next five years on building-out the 5G network, underscoring significant additional growth opportunities ahead for the iPhone segment as carriers push for the strongest multiyear upgrade cycle in a decade to recoup their investments.</p><p><blockquote>iPhone 今年的销量增长了 39%，是其他细分市场中增长最快的，并贡献了苹果 2021 财年一半以上的收入。这一结果与去年移动设备需求的下滑形成了鲜明对比，当时消费者正在为大流行病带来的经济不确定性做好准备。随着全球5G设备升级步伐不断加快，iPhone销售预计将在未来几年保持强劲。2022 年可能会推出更实惠的支持 5G 的 iPhone SE，这也将吸引 “超过 10 亿非高端安卓用户 ”的转换用户，从而进一步扩大苹果的市场份额，并将活跃安装基数推向历史新高。在支持 5G 的 iPhone 12s 和 iPhone 13s 推出后，最近几个季度观察到的 iPhone 销售模式进一步证实了预期的势头，升级和切换用户的数量强劲增长了两位数。苹果与手机运营商的紧密联系预计也将在未来几年推动 iPhone 的销售贡献。威瑞森和美国电话电报公司等美国知名无线运营商已经热衷于促进iPhone 12和iPhone 13等支持5G的设备的销售，以鼓励向他们花费数十亿美元在全国范围内建设的5G网络迁移。预计全球电信公司将在未来五年内花费超过7000亿美元建设5G网络，这凸显了随着运营商推动十年来最强劲的多年升级周期以收回投资，iPhone领域未来的巨大增长机会。</blockquote></p><p> Mac and iPad sales also grew significantly in fiscal 2021, reaching record revenues of $35.2 billion and $31.9 billion, respectively. Following the introduction of the&nbsp;all-new M1-powered iMac&nbsp;earlier this year, Apple also unveiled the&nbsp;reimagined M1-Pro / M1-Max powered MacBook Pro&nbsp;in October. The custom M1 processors made the newest MacBook “better than any Intel-based device for nearly every productivity use case outside of gaming”. This accordingly drove incredible demand for the portable workstation from a diverse group of consumers, ranging from professional creators and photographers to corporate users and students. The company is estimated to have shipped&nbsp;over 3.2 million units&nbsp;of Mac products during the September quarter, which drove record-setting revenues for the segment, while boosting its rank in global PC sales to fourth place amongst other vendors. The introduction of M1-processors in Apple’s computing products also bolstered its position in capitalizing on the surge in global demand for PCs and multi-purpose tablets by allowing the company to build devices with innovative features that can be seamlessly integrated across its ecosystem of peripheral accessories and services to draw adjacent revenues. With accelerated adoption of hybrid work and study arrangements in the post-pandemic era, global demand for portable workstations like PCs and multi-purpose tablets are expected to remain elevated in coming years – the sectors are expected to grow into a&nbsp;$224.3 billion&nbsp;and$600 billion&nbsp;market, respectively, by 2025, which makes favorable trends for Apple’s Mac and iPad segments.</p><p><blockquote>Mac 和 iPad 销量在 2021 财年也大幅增长，收入分别达到创纪录的 352 亿美元和 319 亿美元。继今年早些时候推出全新M1驱动的iMac后，苹果还在10月份推出了重新设计的M1-Pro/M1-Max驱动的MacBook Pro。定制的 M1 处理器使最新的 MacBook “在游戏以外的几乎所有生产力用例上都优于任何基于英特尔的设备”。这相应地推动了不同消费者群体对便携式工作站的巨大需求，从专业创作者和摄影师到企业用户和学生。据估计，该公司在 9 月份季度的 Mac 产品出货量超过 320 万台，推动了该部门创纪录的收入，同时将其在全球 PC 销量中的排名提升至其他供应商的第四位。在苹果的计算产品中引入 M1 处理器也巩固了其在利用全球对 PC 和多功能平板电脑需求激增的优势方面的地位，使该公司能够制造具有创新功能的设备，这些设备可以在其外围配件和服务生态系统中无缝集成，从而吸引相关收入。随着后大流行病时代混合工作和学习安排的加速采用，预计未来几年全球对个人电脑和多功能平板电脑等便携式工作站的需求将保持高位--到 2025 年，这两个行业的市场预计将分别增长到 2,243 亿美元和 6,000 亿美元，这将为苹果的 Mac 和 iPad 细分市场带来有利趋势。</blockquote></p><p> Recent speculations on Apple’s intentions to&nbsp;strengthen its in-house chip development capacity&nbsp;will likely further the advancement of its technologies offered in coming years and draw additional demand to its products. The company is currently looking for engineers to build-out its capacity in the development of “wireless radios, radio-frequency integrated circuits, and a wireless system-on-chip (“SoC”)”, as well as “semiconductors for connecting Bluetooth and Wi-Fi”. These developments are expected to further enhance seamless integration across Apple’s devices and increase stickiness to its ecosystem of product and service offerings, making its chip unit one of the company’s “most prized assets”.</p><p><blockquote>最近有猜测称，苹果有意加强其内部芯片开发能力，这可能会在未来几年进一步推动其技术的进步，并吸引对其产品的更多需求。该公司目前正在寻找工程师，以增强其在 “无线收音机、射频集成电路和无线片上系统（“SoC”）”以及 “用于连接蓝牙和 Wi-Fi 的半导体”方面的开发能力。这些发展有望进一步增强苹果设备之间的无缝集成，并增加其产品和服务生态系统的粘性，使其芯片部门成为公司 “最宝贵的资产 ”之一。</blockquote></p><p> <b>Key Developments in Services</b></p><p><blockquote><b>服务的主要发展</b></blockquote></p><p></p><p> On the services front, a strong subscriber base had enabled the segment to hit record-setting revenues of more than $68.4 billion in fiscal 2021, up 27% from the prior year. To date, Apple has garnered more than 745 million paid subscribers across its high-margin service offerings, representing a five-fold increase over the last five years. Apple’s increasing push for a subscription-based business model across its wide variety of service platforms, ranging from Apple Music to iCloud storage solutions, paired with attractive new offerings that address key consumer trends in recent years have been a key driver to the company’s fast-expanding margins. New exciting add-on features introduced for existing service platforms include&nbsp;Spatial Audio and Lossless Audiofor Apple Music and the&nbsp;Apple Music Voice Plan. The new subscription-based offerings are expected to further Apple’s reach to adjacent opportunities stemming from increasing global usage of smartphones, laptops and other advanced home electronic products – for instance, the global music streaming market is expected to expand at a CAGR of 16% towards a&nbsp;projected value of $61 billion&nbsp;over the next five years, underscoring significant growth headroom for Apple Music. And Apple’s latest introduction of the&nbsp;Apple One bundle&nbsp;is expected to be a key contributor to furthering service segment sales in coming years by attracting new users to pay for subscription services that they otherwise would not have had it not been for the bundle discounts.</p><p><blockquote>在服务方面，强大的用户群使该部门在 2021 财年的收入创下了超过 684 亿美元的纪录，比上一年增长了 27%。迄今为止，苹果通过其高利润服务产品获得了超过 7.45 亿付费用户，比过去五年增长了五倍。苹果在其从苹果音乐到 iCloud 存储解决方案等各种服务平台上不断推行基于订阅的商业模式，再加上近年来针对主要消费趋势的有吸引力的新产品，一直是该公司利润率快速增长的关键驱动力。为现有服务平台引入的令人兴奋的新附加功能包括苹果音乐的空间音频和无损音频以及苹果音乐语音计划。新的基于订阅的产品有望进一步扩大苹果对智能手机、笔记本电脑和其他先进家用电子产品全球使用量不断增加所带来的邻近机遇的影响力--例如，全球音乐流媒体市场预计将在未来五年内以 16% 的复合年增长率扩大，预计价值将达到 610 亿美元，这凸显了苹果音乐的巨大增长空间。苹果最新推出的苹果 One 捆绑包预计将在未来几年吸引新用户为订阅服务付费，而如果不是捆绑包折扣，他们是不会购买这些服务的。</blockquote></p><p> Continued growth in market demand for mobile applications will also be a boon to Apple’s fast-growing services segment. The global market for mobile applications is expected to grow at a CAGR of 18.4% and reach a market value of&nbsp;more than $400 billion&nbsp;over the next five years. With AAPL hosting&nbsp;one of the largest and most used app stores&nbsp;in the world, it would be reasonable to assume that related revenues would grow at a similar pace. Despite&nbsp;mounting global regulatory scrutiny&nbsp;over Apple’s alleged antitrust violations with its App Store – the most notable of which stemming from an ongoing&nbsp;legal battle with Epic Games– the company’s continued focus on ensuring user privacy, security, and ease of transactions might have saved the day. According to a survey of 4,000 Apple product users performed by Morgan Stanley across the U.S. and China, most have indicated loyalty to Apple’s App store due to the “value of security, privacy and ease of transactions” provided, despite developers pushing for rights to transact outside of Apple’s ecosystem. Apple’s recent success in&nbsp;delaying App Store changes&nbsp;ordered by U.S. District Judge Yvonne Gonzalez Rogers in&nbsp;September&nbsp;as part of a year-long lawsuit brought against by Epic Games is another sign of the App Store’s continued strength. The company has argued that the court-mandated order to allow App Store users to “buy directly from developers on the web” would be a threat to the security of their privacy.</p><p><blockquote>移动应用市场需求的持续增长也将有利于苹果快速增长的服务部门。全球移动应用市场预计将以18.4%的CAGR增长，未来五年市值将超过4000亿美元。由于 AAPL 拥有世界上最大、使用最广泛的应用商店之一，因此可以合理地假设相关收入将以类似的速度增长。尽管全球监管机构对苹果的 App Store 涉嫌违反反垄断规定的审查越来越多--其中最引人注目的是与 Epic Games 正在进行的法律诉讼--但该公司继续专注于确保用户隐私、安全和交易便利性可能已经挽救了局面。根据摩根士丹利在美国和中国大陆对 4000 名苹果产品用户进行的调查，大多数人对苹果的应用商店表示忠诚，因为该商店提供了 “安全、隐私和易于交易的价值”，尽管开发者正在推动在苹果生态系统之外进行交易。苹果最近成功推迟了美国地区法官伊冯娜-冈萨雷斯-罗杰斯（Yvonne Gonzalez Rogers）9 月份下令对 App Store 进行的更改，这是 Epic Games 对其提起长达一年的诉讼的一部分，这也是 App Store 持续强大的又一迹象。该公司辩称，法院下令允许 App Store 用户 “直接从网络上的开发者那里购买 ”，这将对他们的隐私安全构成威胁。</blockquote></p><p> Currently, developers are fighting for their rights to have app users transact outside of Apple’s ecosystem, which charges developers a hefty commission fee of up to 30% on all purchases. As Apple continues with its appeal of the ruling, the ultimate court decision on whether App Store changes would need to be implemented could take at least another year. But even with an unfavorable ruling, where Apple would have to allow developers to redirect users to payments outside of its ecosystem and/or lower its in-app purchase commission rate, App Store revenues are only expected to decrease by&nbsp;at most $4 billion per year&nbsp;which will not place a material impact on its valuation prospects. The actual quantified impact might even be less than what the market has forecasted, considering the value that App Store users have ascribed to the level of security and convenience that Apple has offered through the platform.</p><p><blockquote>目前，开发者正在争取让应用程序用户在苹果生态系统之外进行交易的权利，该生态系统向开发者收取高达 30% 的高额佣金。随着苹果继续对该裁决提出上诉，法院关于是否需要实施 App Store 变更的最终裁决可能至少还需要一年时间。但即使做出不利的裁决，苹果将不得不允许开发者将用户重定向到其生态系统之外的支付和/或降低其应用内购买佣金率，App Store的收入预计每年最多也只会减少40亿美元，这不会对其估值前景产生重大影响。考虑到 App Store 用户对苹果通过该平台提供的安全性和便利性水平的重视，实际量化影响甚至可能低于市场预测。</blockquote></p><p> <b>Key Catalysts Ahead</b></p><p><blockquote><b>未来的关键催化剂</b></blockquote></p><p></p><p> Apple is undoubtedly a key gateway to bringing emerging technologies to the mainstream due to its massive installed base of devices and related service platform users. And because of this, the highly anticipated launch of cutting-edge products like AR/VR headsets and autonomous vehicles in coming years will likely catapult the stock to new heights. The pioneer of disruptive consumer electronics and devices is expected to launch a&nbsp;VR headset and AR glasses&nbsp;by early 2023, a nascent technology that has been picking up steam in recent months with increasing talks of the metaverse. Similar to most VR headsets already available in the market, Apple’s will feature a 3D display to enable an immersive environment for a variety of activities from gaming to communicating. The differentiating factor will be the company’s plans to implement best-in-class graphics chips in the device to facilitate ultra-high-resolution displays. The impending VR headset will ultimately lay the foundation for its AR glasses, which Apple expects to be the “larger opportunity”.</p><p><blockquote>由于其庞大的设备安装基数和相关服务平台用户，苹果无疑是将新兴技术带入主流的关键门户。正因为如此，未来几年备受期待的AR/VR耳机和自动驾驶汽车等尖端产品的推出可能会将该股推向新的高度。这家颠覆性消费电子产品和设备的先驱预计将于 2023 年初推出 VR 耳机和 AR 眼镜，这项新兴技术近几个月来随着有关元宇宙的讨论越来越多，势头强劲。与市场上已有的大多数 VR 头显类似，苹果的 VR 头显将采用 3D 显示屏，为从游戏到交流等各种活动提供身临其境的环境。该公司计划在设备中采用一流的图形芯片，以实现超高分辨率显示屏。即将推出的 VR 头显最终将为其 AR 眼镜奠定基础，苹果预计这将是 “更大的机会”。</blockquote></p><p> Over the next five years, opportunities pertaining to the metaverse are expected to blossom into an&nbsp;$800 billion market. Related software and service sales are expected to drive more than 70% of the projected addressable market, while the remainder will likely be driven by hardware sales. This makes strong tailwinds for Apple, which does not only stand to capitalize on growing metaverse opportunities through the sale of its impending AR/VR headset, but also adjacent revenues pertaining to the usage of related apps, software and service platforms.</p><p><blockquote>未来五年，与元宇宙相关的机会预计将发展成为一个价值 8000 亿美元的市场。相关软件和服务销售预计将推动预计潜在市场的 70% 以上，而其余部分可能由硬件销售推动。这为苹果带来了强劲的推动力，该公司不仅可以通过销售即将推出的 AR/VR 耳机来利用不断增长的元宇宙机会，还可以利用与使用相关应用程序、软件和服务平台相关的相关收入。</blockquote></p><p> Speculations on Apple’s ongoing development of&nbsp;a self-driving electric car&nbsp;is also expected to materialize into meaningful upsides for the stock within the foreseeable future. The company is now planning to launch the new product category by 2025, at which time the global autonomous vehicle market is expected to reach a value of&nbsp;more than $200 billion. The eventual car will likely feature homages to its existing product portfolio, like an “iPad-like touch screen” infotainment system. And on the technology front, Apple is believed to have completed the development of a custom silicon for powering the vehicle’s autonomous driving capabilities. The newest chips will soon be implemented into its existing fleet of retrofitted SUVs for testing in California according to the state’s DMV, a sign that the impending launch is near.</p><p><blockquote>在可预见的未来，关于苹果正在开发自动驾驶电动汽车的猜测也有望为该股带来有意义的上涨空间。该公司目前计划在2025年前推出新产品类别，届时全球自动驾驶汽车市场价值预计将超过2000亿美元。最终推出的汽车很可能会向其现有的产品组合致敬，比如 “类似 iPad 的触摸屏 ”信息娱乐系统。在技术方面，据信苹果已经完成了为汽车自动驾驶功能提供动力的定制硅的开发。据加州车管所称，最新芯片将很快应用于其现有的改装 SUV 车队，以便在加州进行测试，这表明即将推出的芯片即将到来。</blockquote></p><p> While Apple’s current market value may already be reflective of “consistent material revenue contributions from new products and services over time”, additional upsides from the above-mentioned new product category launches are still missing. But this will likely change within the next 12 months as the impending launch of an Apple AR/VR device draws near. Near-term projections on early AR/VR device sales are expected to boost Apple’s valuation by&nbsp;at least $150 billion. And over time when metaverse trends continue to gain mainstream traction, Apple is expected to generate more than $200 billion in annual revenues from the AR/VR segment, which could add another 15% on top of its current market value.</p><p><blockquote>虽然苹果目前的市值可能已经反映了 “随着时间的推移，新产品和服务对收入的持续贡献”，但上述新产品类别的推出仍未带来额外的好处。但随着苹果AR/VR设备即将推出，这种情况可能会在未来12个月内发生变化。对早期 AR/VR 设备销售的近期预测预计将使苹果的估值至少提高 1500 亿美元。随着时间的推移，随着元宇宙趋势继续获得主流牵引力，苹果预计将从 AR/VR 领域产生超过 2000 亿美元的年收入，这可能会在其当前市值的基础上再增加 15%。</blockquote></p><p> <b>Valuation Prospects and Potential Impacts from the Impending Rate Increases</b></p><p><blockquote><b>即将加息的估值前景和潜在影响</b></blockquote></p><p> Adjusting our most recent forecast for Apple’s fiscal 2021 year-end results and December-quarter guidance, our base case projection estimates total net sales of $439.3 billion by the end of fiscal 2022, with further growth towards $668.5 billion by fiscal 2026. The growth assumptions applied across segment revenues in our forecast remains largely unchanged from our&nbsp;most recent analysis&nbsp;on the stock, with additional consideration for management’s near-term outlook on supply constraint impacts and the impending rate hikes. Specifically, lost revenues of $9 billion (i.e. approximately $3 billion during June-quarter and $6 billion during September-quarter) attributable to industry-wide chip shortages and pandemic-driven manufacturing delays during the second half of fiscal 2021 is expected to worsen into the first half of fiscal 2022. While there have been observed improvements to supply chain challenges, continuously robust demand for Apple products is what will drive a higher volume of lost sales in coming quarters. Nonetheless, Apple remains well-positioned for strong fundamentals ahead, which will help to alleviate some of investors’ concerns on valuation due to impending rate hikes.</p><p><blockquote>调整我们对苹果 2021 财年年终业绩和 12 月份季度指引的最新预测后，我们的基本案例预测预计到 2022 财年末，净销售总额将达到 4393 亿美元，到 2026 财年将进一步增长至 6685 亿美元。在我们的预测中，各部门收入的增长假设与我们最近对该股的分析基本保持不变，但还额外考虑了管理层对供应紧张影响和即将加息的近期展望。具体来说，2021 财年下半年全行业芯片短缺和大流行导致的制造延误造成的 90 亿美元收入损失（即 6 月份季度约 30 亿美元，9 月份季度约 60 亿美元）预计将恶化到 2022 财年上半年。虽然供应链挑战有所改善，但对苹果产品的持续强劲需求将推动未来几个季度销售额的增加。尽管如此，苹果未来的基本面依然强劲，这将有助于缓解投资者因即将加息而对估值的一些担忧。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b5aa95136cfca6f95b962ea36eadab74\" tg-width=\"640\" tg-height=\"257\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <i>i. Base Case Financial Projections:</i></p><p><blockquote><i>i. 基本情况财务预测：</i></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6585b165abd25fab7d171dd944d05156\" tg-width=\"640\" tg-height=\"316\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal financial forecast (Apple_-_Forecasted_Financial_Information.pdf). Please refer here for further detail on material growth assumptions applied.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部财务预测（Apple_-_Forecasted_Financial_Information.pdf）。有关应用的重大增长假设的进一步详情，请参阅此处。</span></p></blockquote></p><p> Drawing on the above considerations, our 12-month price target for the Apple stock has been revised to $209.43. This represents upside potential of more than 22% based on the last traded price of $171.14 on December 17th.</p><p><blockquote>基于上述考虑，我们对苹果股票的 12 个月目标价已修正至 209.43 美元。根据 12 月 17 日最后交易价格 171.14 美元计算，这意味着超过 22% 的上涨潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e88e904b5b900fbcdf4541d856570e2d\" tg-width=\"640\" tg-height=\"230\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal valuation analysis.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部估值分析。</span></p></blockquote></p><p> The revised price target is derived using a discounted cash flow (“DCF”) analysis over a ten-year discrete period in conjunction with the financial projections updated for Apple’s recent developments as analyzed in earlier sections. Similar to our original valuation analysis, we have applied a WACC of 8% to discount Apple’s projected free cash flows. The discount function is reflective of the company’s risk profile, taking into consideration its current capital structure and strong balance sheet. Apple’s cost of capital for growth is not expected to change significantly as a result of the impending rate hikes, considering a large portion of its existing debt are fixed-rate notes. The company also boasts a consistently robust net cash position, in which management intends to deploy towards additional growth without having to incur incremental capital costs ahead of interest rate increases. This is expected to further cement investors’ confidence in the Apple stock, as they continue their “flight to quality” amidst fear of broader market pressure from rising interest rates.</p><p><blockquote>修订后的价格目标是使用十年离散期间的贴现现金流（“DCF”）分析，结合前面章节分析的苹果近期发展的最新财务预测得出的。与我们最初的估值分析类似，我们采用了 8% 的 WACC 来贴现苹果的预计自由现金流。考虑到公司目前的资本结构和稳健的资产负债表，贴现函数反映了公司的风险状况。考虑到苹果现有债务中有很大一部分是固定利率票据，预计其增长的资本成本不会因即将加息而发生重大变化。该公司还拥有持续强劲的净现金状况，管理层打算在利率上升之前部署额外增长，而不必承担额外的资本成本。预计这将进一步增强水泥投资者对苹果股票的信心，因为他们在担心利率上升会带来更广泛的市场压力的情况下，继续 “向优质方向飞奔”。</blockquote></p><p> The valuation analysis also assumes an exit multiple of 19.8x, which is consistent with current market expectations on Apple’s growth trajectory over the forecasted period. The applied exit multiple assumption could even improve further within the next 12 months, considering the impending launch of new product segments like AR/VR devices and autonomous vehicles, and offset any potential impacts from the upcoming increases to interest rates.</p><p><blockquote>估值分析还假设退出倍数为 19.8 倍，这与当前市场对苹果在预测期内增长轨迹的预期一致。考虑到AR/VR设备和自动驾驶汽车等新产品细分市场即将推出，所应用的退出倍数假设甚至可能在未来12个月内进一步改善，并抵消即将到来的加息带来的任何潜在影响。</blockquote></p><p> <i>i. Base Case Valuation Analysis:</i></p><p><blockquote><i>一、基本案例估值分析：</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/81f992ef8b2b59ea879f69a7b1e7ad52\" tg-width=\"640\" tg-height=\"300\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <i>ii. Sensitivity Analysis:</i></p><p><blockquote><i>ii.敏感性分析：</i></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da8b21dae04fd263929ab26bd8d83907\" tg-width=\"640\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal valuation analysis.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部估值分析。</span></p></blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Based on the foregoing analysis, the anticipated addition of 175 to 200 basis points to the current near-zero Federal Fund Rate over the next two years is not expected to cause material adverse impacts to Apple’s performance from both a fundamental and valuation perspective. Robust global demand for Apple products and services, paired with new innovations are expected to further bolster the company’s fundamental growth prospects. This would accordingly bring additional improvements to Apple’s balance sheet, and further strengthen its position against downward valuation pressures from broader macro headwinds. In fact, increasing demand for quality growth stocks to counter risks resulting from the impending rate hikes might even fuel Apple’s valuation growth momentum. On these considerations, Apple remains one of the best-performing tech stocks to own given its robust uptrend to $3 trillion in the near-term despite impending rate hikes.</p><p><blockquote>根据上述分析，从基本面和估值角度来看，预计未来两年在目前接近于零的联邦基金利率基础上增加 175 至 200 个基点，预计不会对苹果的业绩造成重大不利影响。全球对苹果产品和服务的强劲需求，加上新的创新，预计将进一步提振公司的基本增长前景。因此，这将进一步改善苹果的资产负债表，并进一步加强其抵御更广泛宏观逆风带来的估值下行压力的地位。事实上，为应对即将加息带来的风险，对优质成长型股票的需求不断增加，甚至可能推动苹果的估值增长势头。出于这些考虑，尽管即将加息，但苹果仍然是表现最好的科技股之一，因为其近期仍呈现强劲上升趋势，达到 3 万亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock: The Strongest Shield Against Rate Hikes<blockquote>苹果股票：抵御加息的最强盾牌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock: The Strongest Shield Against Rate Hikes<blockquote>苹果股票：抵御加息的最强盾牌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-20 10:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>With inflation running its hottest course in 40 years, the Federal Reserve has decided to accelerate the stimulus tapering schedule and prepare for raising interest rates as early as March.</li>  <li>While rate hikes have historically deterred investors from growth stocks due to concerns over eroding valuation prospects, the Apple stock has remained largely resilient.</li>  <li>Apple is expected to realize additional upsides ahead, sustained by robust demand for its existing offerings and new opportunities arising from nascent technologies like AR/VR and autonomous vehicles.</li>  <li>Its strong net cash position also provides sufficient dry powder to fund additional growth in coming years without incurring additional costs of capital amidst rising interest rates.</li>  <li>As such, Apple's bullish thesis remains intact as it approaches a $3 trillion valuation, despite broader market valuation risks ahead.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fdf73ac36a98ce54b343c7e6b613f4d9\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>guvendemir/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>随着通胀处于40年来最热的阶段，美联储决定加快刺激缩减时间表，并准备最早在3月份加息。</li><li>尽管由于担心估值前景恶化，加息历来会阻止投资者购买成长型股票，但苹果股票在很大程度上仍然具有弹性。</li><li>在对其现有产品的强劲需求以及 AR/VR 和自动驾驶汽车等新兴技术带来的新机遇的支持下，苹果预计将在未来实现额外的上涨空间。</li><li>其强劲的净现金状况也提供了足够的干粉来为未来几年的额外增长提供资金，而不会在利率上升的情况下产生额外的资本成本。</li><li>因此，尽管未来存在更广泛的市场估值风险，但苹果的看涨论点在其估值接近 3 万亿美元时仍然完好无损。</li></ul><p class=\"t-img-caption\"><span>guvendemir/iStock 未通过 Getty Images 发布</span></p></blockquote></p><p> As one of the world’s best performing stocks, Apple(NASDAQ:AAPL)&nbsp;has gained close to 40% this year. The stock, which last peaked at $182.13 not too long ago, is currently less than 7% from being the first U.S. publicly listed company to reach a $3 trillion market value and single-handedly accounts for about 15% of the tech-heavy Nasdaq 100’s performance. Apple’s market value has grown by&nbsp;more than 220x&nbsp;since the late 1990s, buoyed by the company’s continuous ability to capture robust demand for its innovative portfolio of products and services.</p><p><blockquote>作为全球表现最好的股票之一，苹果（纳斯达克股票代码：AAPL）今年上涨了近 40%。该股不久前曾触及 182.13 美元的最高点，目前距离成为第一家市值达到 3 万亿美元的美国上市公司还不到 7%，单枪匹马就占据了以科技股为主的纳斯达克 100 指数业绩的约 15%。自 20 世纪 90 年代末以来，苹果的市值增长了 220 多倍，这得益于该公司持续能够抓住对其创新产品和服务组合的强劲需求。</blockquote></p><p> And Apple’s strong fundamentals are expected to help the stock defy adverse impacts from the imminent rate hikes beginning next year. With inflation running at its hottest in almost four decades, the Federal Reserve decided Wednesday that it will increase the pace at which it is dialing back on the $120 billion monthly bond repurchasing program from $15 billion per month, which began in November, to&nbsp;$30 billion per month. This would effectively conclude the stimulus program, put in place at the onset of the pandemic, coming March, rather than in&nbsp;July as initially planned. Rate hikes are expected to begin soon after to counter rising price pressures, with Federal Reserve Chair Jerome Powell affirming that the process will only begin after tapering ends and at a gradual pace. The latest dot plot indicates potential for the Federal Fund Rate to lift-off from near-zero beginning early 2022 with three quarter-point increases, plus another three in 2023 and two more in 2024. If materialized, the process would up the funds rate to 2.1% by 2024.</p><p><blockquote>苹果强劲的基本面有望帮助该股抵御明年开始即将加息带来的不利影响。随着通胀达到近四十年来的最高点，美联储周三决定加快每月 1200 亿美元债券回购计划的步伐，从 11 月开始的每月 150 亿美元降至每月 300 亿美元。这将有效地结束疫情爆发时实施的刺激计划，即明年3月，而不是最初计划的7月。加息预计将很快开始，以应对不断上升的价格压力，美联储主席杰罗姆·鲍威尔确认，这一过程只有在缩减规模结束后才会开始，并且步伐渐进。最新的点阵图表明，联邦基金利率有可能从 2022 年初的接近于零的水平上升，并上调三个四分之一点，2023 年再上调三个四分之一点，2024 年再上调两个。如果实现，到 2024 年，这一过程将把基金利率提高到 2.1%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2ef3ca2d04c1b55a465e12bfae79890e\" tg-width=\"640\" tg-height=\"315\" width=\"100%\" height=\"auto\"><span>Source: Bloomberg</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：彭博社</span></p></blockquote></p><p> While rate hikes typically cause investors to turn risk averse due to concerns over&nbsp;faster erosion of value on future gains&nbsp;and stalled business growth due to rising costs of capital, especially for high-growth stocks, Apple gained close to 3% upon release of the Fed’s update on policy tightening. The stock closed at $179.30 on December 15th, nearing its peak of $182 on Monday. Apple’s rally, along with similar uptrends observed across other mega-cap tech stocks, accordingly drove intra-day gains of 2.4% for the Nasdaq 100 following the Federal Reserve’s update, indicating investors’ preference to park their money in companies with robust growth prospects to counter risks from the impending rate increases.</p><p><blockquote>虽然加息通常会导致投资者规避风险，因为他们担心未来收益的价值会更快地受到侵蚀，而且由于资本成本上升（尤其是高增长股票）导致业务增长停滞，但在美联储发布紧缩政策的最新消息后，苹果股市上涨了近3%。该股12月15日收于179.30美元，接近周一182美元的峰值。在美联储发布最新消息后，苹果的反弹以及其他大型科技股的类似上升趋势相应地推动了纳斯达克 100 指数盘中上涨 2.4%，这表明投资者更倾向于将资金投入增长前景强劲的公司，以应对即将加息带来的风险。</blockquote></p><p> With the coming holiday season a boon for Apple’s December-quarter sales, the stock’s valuation is expected to enter in the $3 trillion territory sooner than expected. Continued robust demand observed across Apple’s entire product line, generous share buy-backs, and additional revenue contributions expected within the foreseeable future resulting from new, cutting-edge products will also be key catalysts to support the company’s persistently strong fundamentals and keep the stock’s valuation above $3 trillion despite the impending rate hikes. Considering recent developments to the broader market and Apple’s growth prospects, we are raising our 12-month price target for the stock to $209.43.</p><p><blockquote>随着即将到来的假日季对苹果 12 月季度的销售额有利，该股估值预计将比预期更早进入 3 万亿美元大关。苹果整个产品线的持续强劲需求、慷慨的股票回购，以及预计在可预见的未来，新的尖端产品将带来额外的收入贡献，也将成为支撑公司持续强劲基本面的关键催化剂，并在即将加息的情况下将使股票估值保持在 3 万亿美元以上。考虑到大盘的近期发展和苹果的增长前景，我们将该股的 12 个月目标价上调至 209.43 美元。</blockquote></p><p> <b>FY 2021 Overview and Recap of Fundamental Prospects</b></p><p><blockquote><b>2021财年概述及基本前景回顾</b></blockquote></p><p></p><p> Fiscal 2021 was a big year for Apple. The company’s revenues for the year grew 33% from fiscal 2020 to $366 billion, despite on-and-off store closures resulting from recurring coronavirus outbreaks and supply chain constraints that have led to more than $9 billion in lost sales. Every product and service segment achieved record-setting revenues with more than 20% growth from previous year results. Much of the year’s success were attributable to a series of new product launches and feature upgrades. The most notable of which included the 5G-enabled family of iPhone 12s and iPhone 13s, as well as the M1-powered MacBook Pro and iPad Pro.</p><p><blockquote>2021财年对苹果来说是重要的一年。尽管冠状病毒反复爆发和供应链限制导致门店断断续续关闭，导致销售额损失超过 90 亿美元，但该公司全年的收入比 2020 财年增长了 33%，达到 3660 亿美元。每个产品和服务部门都实现了创纪录的收入，比上一年的业绩增长了20%以上。今年的成功很大程度上归功于一系列新产品的发布和功能的升级。其中最引人注目的包括支持5G的iPhone 12s和iPhone 13s系列，以及支持M1的MacBook Pro和iPad Pro。</blockquote></p><p> <b>Key Developments in Products</b></p><p><blockquote><b>产品的主要发展</b></blockquote></p><p> iPhone sales grew by 39% this year, the most amongst other segments, and drove more than half of Apple’s fiscal 2021 revenues. The results were a stark contrast to last year’s slump in demand for the mobile device when consumers braced for pandemic-driven economic uncertainties. iPhone sales are expected to remain robust in coming years as global 5G device upgrades continue to gather pace. The likely launch of a more affordable 5G-enabled iPhone SE in 2022 is also expected to further Apple’s market share gains by&nbsp;attracting switchers&nbsp;from “more than a billion non-premium Android users”, and drive the active installed base to another all-time high. The anticipated momentum is further corroborated by iPhone sales patterns observed in recent quarters following the launch of 5G-enabled iPhone 12s and iPhone 13s, where the number of upgraders and switchers grew by&nbsp;strong double digits. Apple’s strong ties with cell-phone carriers is also expected to drive meaningful iPhone sales contributions in coming years. Reputable wireless carriers in the U.S. like&nbsp;Verizon&nbsp;and&nbsp;AT&amp;T&nbsp;have already been keen on promoting the sale of 5G-enabled devices like the iPhone 12 and iPhone 13 to encourage migration to the 5G network that they have spent billions of dollars on building across the nation. Telecom companies around the world are expected to spend&nbsp;more than $700 billion&nbsp;over the next five years on building-out the 5G network, underscoring significant additional growth opportunities ahead for the iPhone segment as carriers push for the strongest multiyear upgrade cycle in a decade to recoup their investments.</p><p><blockquote>iPhone 今年的销量增长了 39%，是其他细分市场中增长最快的，并贡献了苹果 2021 财年一半以上的收入。这一结果与去年移动设备需求的下滑形成了鲜明对比，当时消费者正在为大流行病带来的经济不确定性做好准备。随着全球5G设备升级步伐不断加快，iPhone销售预计将在未来几年保持强劲。2022 年可能会推出更实惠的支持 5G 的 iPhone SE，这也将吸引 “超过 10 亿非高端安卓用户 ”的转换用户，从而进一步扩大苹果的市场份额，并将活跃安装基数推向历史新高。在支持 5G 的 iPhone 12s 和 iPhone 13s 推出后，最近几个季度观察到的 iPhone 销售模式进一步证实了预期的势头，升级和切换用户的数量强劲增长了两位数。苹果与手机运营商的紧密联系预计也将在未来几年推动 iPhone 的销售贡献。威瑞森和美国电话电报公司等美国知名无线运营商已经热衷于促进iPhone 12和iPhone 13等支持5G的设备的销售，以鼓励向他们花费数十亿美元在全国范围内建设的5G网络迁移。预计全球电信公司将在未来五年内花费超过7000亿美元建设5G网络，这凸显了随着运营商推动十年来最强劲的多年升级周期以收回投资，iPhone领域未来的巨大增长机会。</blockquote></p><p> Mac and iPad sales also grew significantly in fiscal 2021, reaching record revenues of $35.2 billion and $31.9 billion, respectively. Following the introduction of the&nbsp;all-new M1-powered iMac&nbsp;earlier this year, Apple also unveiled the&nbsp;reimagined M1-Pro / M1-Max powered MacBook Pro&nbsp;in October. The custom M1 processors made the newest MacBook “better than any Intel-based device for nearly every productivity use case outside of gaming”. This accordingly drove incredible demand for the portable workstation from a diverse group of consumers, ranging from professional creators and photographers to corporate users and students. The company is estimated to have shipped&nbsp;over 3.2 million units&nbsp;of Mac products during the September quarter, which drove record-setting revenues for the segment, while boosting its rank in global PC sales to fourth place amongst other vendors. The introduction of M1-processors in Apple’s computing products also bolstered its position in capitalizing on the surge in global demand for PCs and multi-purpose tablets by allowing the company to build devices with innovative features that can be seamlessly integrated across its ecosystem of peripheral accessories and services to draw adjacent revenues. With accelerated adoption of hybrid work and study arrangements in the post-pandemic era, global demand for portable workstations like PCs and multi-purpose tablets are expected to remain elevated in coming years – the sectors are expected to grow into a&nbsp;$224.3 billion&nbsp;and$600 billion&nbsp;market, respectively, by 2025, which makes favorable trends for Apple’s Mac and iPad segments.</p><p><blockquote>Mac 和 iPad 销量在 2021 财年也大幅增长，收入分别达到创纪录的 352 亿美元和 319 亿美元。继今年早些时候推出全新M1驱动的iMac后，苹果还在10月份推出了重新设计的M1-Pro/M1-Max驱动的MacBook Pro。定制的 M1 处理器使最新的 MacBook “在游戏以外的几乎所有生产力用例上都优于任何基于英特尔的设备”。这相应地推动了不同消费者群体对便携式工作站的巨大需求，从专业创作者和摄影师到企业用户和学生。据估计，该公司在 9 月份季度的 Mac 产品出货量超过 320 万台，推动了该部门创纪录的收入，同时将其在全球 PC 销量中的排名提升至其他供应商的第四位。在苹果的计算产品中引入 M1 处理器也巩固了其在利用全球对 PC 和多功能平板电脑需求激增的优势方面的地位，使该公司能够制造具有创新功能的设备，这些设备可以在其外围配件和服务生态系统中无缝集成，从而吸引相关收入。随着后大流行病时代混合工作和学习安排的加速采用，预计未来几年全球对个人电脑和多功能平板电脑等便携式工作站的需求将保持高位--到 2025 年，这两个行业的市场预计将分别增长到 2,243 亿美元和 6,000 亿美元，这将为苹果的 Mac 和 iPad 细分市场带来有利趋势。</blockquote></p><p> Recent speculations on Apple’s intentions to&nbsp;strengthen its in-house chip development capacity&nbsp;will likely further the advancement of its technologies offered in coming years and draw additional demand to its products. The company is currently looking for engineers to build-out its capacity in the development of “wireless radios, radio-frequency integrated circuits, and a wireless system-on-chip (“SoC”)”, as well as “semiconductors for connecting Bluetooth and Wi-Fi”. These developments are expected to further enhance seamless integration across Apple’s devices and increase stickiness to its ecosystem of product and service offerings, making its chip unit one of the company’s “most prized assets”.</p><p><blockquote>最近有猜测称，苹果有意加强其内部芯片开发能力，这可能会在未来几年进一步推动其技术的进步，并吸引对其产品的更多需求。该公司目前正在寻找工程师，以增强其在 “无线收音机、射频集成电路和无线片上系统（“SoC”）”以及 “用于连接蓝牙和 Wi-Fi 的半导体”方面的开发能力。这些发展有望进一步增强苹果设备之间的无缝集成，并增加其产品和服务生态系统的粘性，使其芯片部门成为公司 “最宝贵的资产 ”之一。</blockquote></p><p> <b>Key Developments in Services</b></p><p><blockquote><b>服务的主要发展</b></blockquote></p><p></p><p> On the services front, a strong subscriber base had enabled the segment to hit record-setting revenues of more than $68.4 billion in fiscal 2021, up 27% from the prior year. To date, Apple has garnered more than 745 million paid subscribers across its high-margin service offerings, representing a five-fold increase over the last five years. Apple’s increasing push for a subscription-based business model across its wide variety of service platforms, ranging from Apple Music to iCloud storage solutions, paired with attractive new offerings that address key consumer trends in recent years have been a key driver to the company’s fast-expanding margins. New exciting add-on features introduced for existing service platforms include&nbsp;Spatial Audio and Lossless Audiofor Apple Music and the&nbsp;Apple Music Voice Plan. The new subscription-based offerings are expected to further Apple’s reach to adjacent opportunities stemming from increasing global usage of smartphones, laptops and other advanced home electronic products – for instance, the global music streaming market is expected to expand at a CAGR of 16% towards a&nbsp;projected value of $61 billion&nbsp;over the next five years, underscoring significant growth headroom for Apple Music. And Apple’s latest introduction of the&nbsp;Apple One bundle&nbsp;is expected to be a key contributor to furthering service segment sales in coming years by attracting new users to pay for subscription services that they otherwise would not have had it not been for the bundle discounts.</p><p><blockquote>在服务方面，强大的用户群使该部门在 2021 财年的收入创下了超过 684 亿美元的纪录，比上一年增长了 27%。迄今为止，苹果通过其高利润服务产品获得了超过 7.45 亿付费用户，比过去五年增长了五倍。苹果在其从苹果音乐到 iCloud 存储解决方案等各种服务平台上不断推行基于订阅的商业模式，再加上近年来针对主要消费趋势的有吸引力的新产品，一直是该公司利润率快速增长的关键驱动力。为现有服务平台引入的令人兴奋的新附加功能包括苹果音乐的空间音频和无损音频以及苹果音乐语音计划。新的基于订阅的产品有望进一步扩大苹果对智能手机、笔记本电脑和其他先进家用电子产品全球使用量不断增加所带来的邻近机遇的影响力--例如，全球音乐流媒体市场预计将在未来五年内以 16% 的复合年增长率扩大，预计价值将达到 610 亿美元，这凸显了苹果音乐的巨大增长空间。苹果最新推出的苹果 One 捆绑包预计将在未来几年吸引新用户为订阅服务付费，而如果不是捆绑包折扣，他们是不会购买这些服务的。</blockquote></p><p> Continued growth in market demand for mobile applications will also be a boon to Apple’s fast-growing services segment. The global market for mobile applications is expected to grow at a CAGR of 18.4% and reach a market value of&nbsp;more than $400 billion&nbsp;over the next five years. With AAPL hosting&nbsp;one of the largest and most used app stores&nbsp;in the world, it would be reasonable to assume that related revenues would grow at a similar pace. Despite&nbsp;mounting global regulatory scrutiny&nbsp;over Apple’s alleged antitrust violations with its App Store – the most notable of which stemming from an ongoing&nbsp;legal battle with Epic Games– the company’s continued focus on ensuring user privacy, security, and ease of transactions might have saved the day. According to a survey of 4,000 Apple product users performed by Morgan Stanley across the U.S. and China, most have indicated loyalty to Apple’s App store due to the “value of security, privacy and ease of transactions” provided, despite developers pushing for rights to transact outside of Apple’s ecosystem. Apple’s recent success in&nbsp;delaying App Store changes&nbsp;ordered by U.S. District Judge Yvonne Gonzalez Rogers in&nbsp;September&nbsp;as part of a year-long lawsuit brought against by Epic Games is another sign of the App Store’s continued strength. The company has argued that the court-mandated order to allow App Store users to “buy directly from developers on the web” would be a threat to the security of their privacy.</p><p><blockquote>移动应用市场需求的持续增长也将有利于苹果快速增长的服务部门。全球移动应用市场预计将以18.4%的CAGR增长，未来五年市值将超过4000亿美元。由于 AAPL 拥有世界上最大、使用最广泛的应用商店之一，因此可以合理地假设相关收入将以类似的速度增长。尽管全球监管机构对苹果的 App Store 涉嫌违反反垄断规定的审查越来越多--其中最引人注目的是与 Epic Games 正在进行的法律诉讼--但该公司继续专注于确保用户隐私、安全和交易便利性可能已经挽救了局面。根据摩根士丹利在美国和中国大陆对 4000 名苹果产品用户进行的调查，大多数人对苹果的应用商店表示忠诚，因为该商店提供了 “安全、隐私和易于交易的价值”，尽管开发者正在推动在苹果生态系统之外进行交易。苹果最近成功推迟了美国地区法官伊冯娜-冈萨雷斯-罗杰斯（Yvonne Gonzalez Rogers）9 月份下令对 App Store 进行的更改，这是 Epic Games 对其提起长达一年的诉讼的一部分，这也是 App Store 持续强大的又一迹象。该公司辩称，法院下令允许 App Store 用户 “直接从网络上的开发者那里购买 ”，这将对他们的隐私安全构成威胁。</blockquote></p><p> Currently, developers are fighting for their rights to have app users transact outside of Apple’s ecosystem, which charges developers a hefty commission fee of up to 30% on all purchases. As Apple continues with its appeal of the ruling, the ultimate court decision on whether App Store changes would need to be implemented could take at least another year. But even with an unfavorable ruling, where Apple would have to allow developers to redirect users to payments outside of its ecosystem and/or lower its in-app purchase commission rate, App Store revenues are only expected to decrease by&nbsp;at most $4 billion per year&nbsp;which will not place a material impact on its valuation prospects. The actual quantified impact might even be less than what the market has forecasted, considering the value that App Store users have ascribed to the level of security and convenience that Apple has offered through the platform.</p><p><blockquote>目前，开发者正在争取让应用程序用户在苹果生态系统之外进行交易的权利，该生态系统向开发者收取高达 30% 的高额佣金。随着苹果继续对该裁决提出上诉，法院关于是否需要实施 App Store 变更的最终裁决可能至少还需要一年时间。但即使做出不利的裁决，苹果将不得不允许开发者将用户重定向到其生态系统之外的支付和/或降低其应用内购买佣金率，App Store的收入预计每年最多也只会减少40亿美元，这不会对其估值前景产生重大影响。考虑到 App Store 用户对苹果通过该平台提供的安全性和便利性水平的重视，实际量化影响甚至可能低于市场预测。</blockquote></p><p> <b>Key Catalysts Ahead</b></p><p><blockquote><b>未来的关键催化剂</b></blockquote></p><p></p><p> Apple is undoubtedly a key gateway to bringing emerging technologies to the mainstream due to its massive installed base of devices and related service platform users. And because of this, the highly anticipated launch of cutting-edge products like AR/VR headsets and autonomous vehicles in coming years will likely catapult the stock to new heights. The pioneer of disruptive consumer electronics and devices is expected to launch a&nbsp;VR headset and AR glasses&nbsp;by early 2023, a nascent technology that has been picking up steam in recent months with increasing talks of the metaverse. Similar to most VR headsets already available in the market, Apple’s will feature a 3D display to enable an immersive environment for a variety of activities from gaming to communicating. The differentiating factor will be the company’s plans to implement best-in-class graphics chips in the device to facilitate ultra-high-resolution displays. The impending VR headset will ultimately lay the foundation for its AR glasses, which Apple expects to be the “larger opportunity”.</p><p><blockquote>由于其庞大的设备安装基数和相关服务平台用户，苹果无疑是将新兴技术带入主流的关键门户。正因为如此，未来几年备受期待的AR/VR耳机和自动驾驶汽车等尖端产品的推出可能会将该股推向新的高度。这家颠覆性消费电子产品和设备的先驱预计将于 2023 年初推出 VR 耳机和 AR 眼镜，这项新兴技术近几个月来随着有关元宇宙的讨论越来越多，势头强劲。与市场上已有的大多数 VR 头显类似，苹果的 VR 头显将采用 3D 显示屏，为从游戏到交流等各种活动提供身临其境的环境。该公司计划在设备中采用一流的图形芯片，以实现超高分辨率显示屏。即将推出的 VR 头显最终将为其 AR 眼镜奠定基础，苹果预计这将是 “更大的机会”。</blockquote></p><p> Over the next five years, opportunities pertaining to the metaverse are expected to blossom into an&nbsp;$800 billion market. Related software and service sales are expected to drive more than 70% of the projected addressable market, while the remainder will likely be driven by hardware sales. This makes strong tailwinds for Apple, which does not only stand to capitalize on growing metaverse opportunities through the sale of its impending AR/VR headset, but also adjacent revenues pertaining to the usage of related apps, software and service platforms.</p><p><blockquote>未来五年，与元宇宙相关的机会预计将发展成为一个价值 8000 亿美元的市场。相关软件和服务销售预计将推动预计潜在市场的 70% 以上，而其余部分可能由硬件销售推动。这为苹果带来了强劲的推动力，该公司不仅可以通过销售即将推出的 AR/VR 耳机来利用不断增长的元宇宙机会，还可以利用与使用相关应用程序、软件和服务平台相关的相关收入。</blockquote></p><p> Speculations on Apple’s ongoing development of&nbsp;a self-driving electric car&nbsp;is also expected to materialize into meaningful upsides for the stock within the foreseeable future. The company is now planning to launch the new product category by 2025, at which time the global autonomous vehicle market is expected to reach a value of&nbsp;more than $200 billion. The eventual car will likely feature homages to its existing product portfolio, like an “iPad-like touch screen” infotainment system. And on the technology front, Apple is believed to have completed the development of a custom silicon for powering the vehicle’s autonomous driving capabilities. The newest chips will soon be implemented into its existing fleet of retrofitted SUVs for testing in California according to the state’s DMV, a sign that the impending launch is near.</p><p><blockquote>在可预见的未来，关于苹果正在开发自动驾驶电动汽车的猜测也有望为该股带来有意义的上涨空间。该公司目前计划在2025年前推出新产品类别，届时全球自动驾驶汽车市场价值预计将超过2000亿美元。最终推出的汽车很可能会向其现有的产品组合致敬，比如 “类似 iPad 的触摸屏 ”信息娱乐系统。在技术方面，据信苹果已经完成了为汽车自动驾驶功能提供动力的定制硅的开发。据加州车管所称，最新芯片将很快应用于其现有的改装 SUV 车队，以便在加州进行测试，这表明即将推出的芯片即将到来。</blockquote></p><p> While Apple’s current market value may already be reflective of “consistent material revenue contributions from new products and services over time”, additional upsides from the above-mentioned new product category launches are still missing. But this will likely change within the next 12 months as the impending launch of an Apple AR/VR device draws near. Near-term projections on early AR/VR device sales are expected to boost Apple’s valuation by&nbsp;at least $150 billion. And over time when metaverse trends continue to gain mainstream traction, Apple is expected to generate more than $200 billion in annual revenues from the AR/VR segment, which could add another 15% on top of its current market value.</p><p><blockquote>虽然苹果目前的市值可能已经反映了 “随着时间的推移，新产品和服务对收入的持续贡献”，但上述新产品类别的推出仍未带来额外的好处。但随着苹果AR/VR设备即将推出，这种情况可能会在未来12个月内发生变化。对早期 AR/VR 设备销售的近期预测预计将使苹果的估值至少提高 1500 亿美元。随着时间的推移，随着元宇宙趋势继续获得主流牵引力，苹果预计将从 AR/VR 领域产生超过 2000 亿美元的年收入，这可能会在其当前市值的基础上再增加 15%。</blockquote></p><p> <b>Valuation Prospects and Potential Impacts from the Impending Rate Increases</b></p><p><blockquote><b>即将加息的估值前景和潜在影响</b></blockquote></p><p> Adjusting our most recent forecast for Apple’s fiscal 2021 year-end results and December-quarter guidance, our base case projection estimates total net sales of $439.3 billion by the end of fiscal 2022, with further growth towards $668.5 billion by fiscal 2026. The growth assumptions applied across segment revenues in our forecast remains largely unchanged from our&nbsp;most recent analysis&nbsp;on the stock, with additional consideration for management’s near-term outlook on supply constraint impacts and the impending rate hikes. Specifically, lost revenues of $9 billion (i.e. approximately $3 billion during June-quarter and $6 billion during September-quarter) attributable to industry-wide chip shortages and pandemic-driven manufacturing delays during the second half of fiscal 2021 is expected to worsen into the first half of fiscal 2022. While there have been observed improvements to supply chain challenges, continuously robust demand for Apple products is what will drive a higher volume of lost sales in coming quarters. Nonetheless, Apple remains well-positioned for strong fundamentals ahead, which will help to alleviate some of investors’ concerns on valuation due to impending rate hikes.</p><p><blockquote>调整我们对苹果 2021 财年年终业绩和 12 月份季度指引的最新预测后，我们的基本案例预测预计到 2022 财年末，净销售总额将达到 4393 亿美元，到 2026 财年将进一步增长至 6685 亿美元。在我们的预测中，各部门收入的增长假设与我们最近对该股的分析基本保持不变，但还额外考虑了管理层对供应紧张影响和即将加息的近期展望。具体来说，2021 财年下半年全行业芯片短缺和大流行导致的制造延误造成的 90 亿美元收入损失（即 6 月份季度约 30 亿美元，9 月份季度约 60 亿美元）预计将恶化到 2022 财年上半年。虽然供应链挑战有所改善，但对苹果产品的持续强劲需求将推动未来几个季度销售额的增加。尽管如此，苹果未来的基本面依然强劲，这将有助于缓解投资者因即将加息而对估值的一些担忧。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b5aa95136cfca6f95b962ea36eadab74\" tg-width=\"640\" tg-height=\"257\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <i>i. Base Case Financial Projections:</i></p><p><blockquote><i>i. 基本情况财务预测：</i></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6585b165abd25fab7d171dd944d05156\" tg-width=\"640\" tg-height=\"316\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal financial forecast (Apple_-_Forecasted_Financial_Information.pdf). Please refer here for further detail on material growth assumptions applied.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部财务预测（Apple_-_Forecasted_Financial_Information.pdf）。有关应用的重大增长假设的进一步详情，请参阅此处。</span></p></blockquote></p><p> Drawing on the above considerations, our 12-month price target for the Apple stock has been revised to $209.43. This represents upside potential of more than 22% based on the last traded price of $171.14 on December 17th.</p><p><blockquote>基于上述考虑，我们对苹果股票的 12 个月目标价已修正至 209.43 美元。根据 12 月 17 日最后交易价格 171.14 美元计算，这意味着超过 22% 的上涨潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e88e904b5b900fbcdf4541d856570e2d\" tg-width=\"640\" tg-height=\"230\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal valuation analysis.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部估值分析。</span></p></blockquote></p><p> The revised price target is derived using a discounted cash flow (“DCF”) analysis over a ten-year discrete period in conjunction with the financial projections updated for Apple’s recent developments as analyzed in earlier sections. Similar to our original valuation analysis, we have applied a WACC of 8% to discount Apple’s projected free cash flows. The discount function is reflective of the company’s risk profile, taking into consideration its current capital structure and strong balance sheet. Apple’s cost of capital for growth is not expected to change significantly as a result of the impending rate hikes, considering a large portion of its existing debt are fixed-rate notes. The company also boasts a consistently robust net cash position, in which management intends to deploy towards additional growth without having to incur incremental capital costs ahead of interest rate increases. This is expected to further cement investors’ confidence in the Apple stock, as they continue their “flight to quality” amidst fear of broader market pressure from rising interest rates.</p><p><blockquote>修订后的价格目标是使用十年离散期间的贴现现金流（“DCF”）分析，结合前面章节分析的苹果近期发展的最新财务预测得出的。与我们最初的估值分析类似，我们采用了 8% 的 WACC 来贴现苹果的预计自由现金流。考虑到公司目前的资本结构和稳健的资产负债表，贴现函数反映了公司的风险状况。考虑到苹果现有债务中有很大一部分是固定利率票据，预计其增长的资本成本不会因即将加息而发生重大变化。该公司还拥有持续强劲的净现金状况，管理层打算在利率上升之前部署额外增长，而不必承担额外的资本成本。预计这将进一步增强水泥投资者对苹果股票的信心，因为他们在担心利率上升会带来更广泛的市场压力的情况下，继续 “向优质方向飞奔”。</blockquote></p><p> The valuation analysis also assumes an exit multiple of 19.8x, which is consistent with current market expectations on Apple’s growth trajectory over the forecasted period. The applied exit multiple assumption could even improve further within the next 12 months, considering the impending launch of new product segments like AR/VR devices and autonomous vehicles, and offset any potential impacts from the upcoming increases to interest rates.</p><p><blockquote>估值分析还假设退出倍数为 19.8 倍，这与当前市场对苹果在预测期内增长轨迹的预期一致。考虑到AR/VR设备和自动驾驶汽车等新产品细分市场即将推出，所应用的退出倍数假设甚至可能在未来12个月内进一步改善，并抵消即将到来的加息带来的任何潜在影响。</blockquote></p><p> <i>i. Base Case Valuation Analysis:</i></p><p><blockquote><i>一、基本案例估值分析：</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/81f992ef8b2b59ea879f69a7b1e7ad52\" tg-width=\"640\" tg-height=\"300\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <i>ii. Sensitivity Analysis:</i></p><p><blockquote><i>ii.敏感性分析：</i></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da8b21dae04fd263929ab26bd8d83907\" tg-width=\"640\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal valuation analysis.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部估值分析。</span></p></blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Based on the foregoing analysis, the anticipated addition of 175 to 200 basis points to the current near-zero Federal Fund Rate over the next two years is not expected to cause material adverse impacts to Apple’s performance from both a fundamental and valuation perspective. Robust global demand for Apple products and services, paired with new innovations are expected to further bolster the company’s fundamental growth prospects. This would accordingly bring additional improvements to Apple’s balance sheet, and further strengthen its position against downward valuation pressures from broader macro headwinds. In fact, increasing demand for quality growth stocks to counter risks resulting from the impending rate hikes might even fuel Apple’s valuation growth momentum. On these considerations, Apple remains one of the best-performing tech stocks to own given its robust uptrend to $3 trillion in the near-term despite impending rate hikes.</p><p><blockquote>根据上述分析，从基本面和估值角度来看，预计未来两年在目前接近于零的联邦基金利率基础上增加 175 至 200 个基点，预计不会对苹果的业绩造成重大不利影响。全球对苹果产品和服务的强劲需求，加上新的创新，预计将进一步提振公司的基本增长前景。因此，这将进一步改善苹果的资产负债表，并进一步加强其抵御更广泛宏观逆风带来的估值下行压力的地位。事实上，为应对即将加息带来的风险，对优质成长型股票的需求不断增加，甚至可能推动苹果的估值增长势头。出于这些考虑，尽管即将加息，但苹果仍然是表现最好的科技股之一，因为其近期仍呈现强劲上升趋势，达到 3 万亿美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4475887-apple-stock-aapl-strongest-shield-against-rate-hikes\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4475887-apple-stock-aapl-strongest-shield-against-rate-hikes","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183475424","content_text":"Summary\n\nWith inflation running its hottest course in 40 years, the Federal Reserve has decided to accelerate the stimulus tapering schedule and prepare for raising interest rates as early as March.\nWhile rate hikes have historically deterred investors from growth stocks due to concerns over eroding valuation prospects, the Apple stock has remained largely resilient.\nApple is expected to realize additional upsides ahead, sustained by robust demand for its existing offerings and new opportunities arising from nascent technologies like AR/VR and autonomous vehicles.\nIts strong net cash position also provides sufficient dry powder to fund additional growth in coming years without incurring additional costs of capital amidst rising interest rates.\nAs such, Apple's bullish thesis remains intact as it approaches a $3 trillion valuation, despite broader market valuation risks ahead.\n\nguvendemir/iStock Unreleased via Getty Images\nAs one of the world’s best performing stocks, Apple(NASDAQ:AAPL) has gained close to 40% this year. The stock, which last peaked at $182.13 not too long ago, is currently less than 7% from being the first U.S. publicly listed company to reach a $3 trillion market value and single-handedly accounts for about 15% of the tech-heavy Nasdaq 100’s performance. Apple’s market value has grown by more than 220x since the late 1990s, buoyed by the company’s continuous ability to capture robust demand for its innovative portfolio of products and services.\nAnd Apple’s strong fundamentals are expected to help the stock defy adverse impacts from the imminent rate hikes beginning next year. With inflation running at its hottest in almost four decades, the Federal Reserve decided Wednesday that it will increase the pace at which it is dialing back on the $120 billion monthly bond repurchasing program from $15 billion per month, which began in November, to $30 billion per month. This would effectively conclude the stimulus program, put in place at the onset of the pandemic, coming March, rather than in July as initially planned. Rate hikes are expected to begin soon after to counter rising price pressures, with Federal Reserve Chair Jerome Powell affirming that the process will only begin after tapering ends and at a gradual pace. The latest dot plot indicates potential for the Federal Fund Rate to lift-off from near-zero beginning early 2022 with three quarter-point increases, plus another three in 2023 and two more in 2024. If materialized, the process would up the funds rate to 2.1% by 2024.\nSource: Bloomberg\nWhile rate hikes typically cause investors to turn risk averse due to concerns over faster erosion of value on future gains and stalled business growth due to rising costs of capital, especially for high-growth stocks, Apple gained close to 3% upon release of the Fed’s update on policy tightening. The stock closed at $179.30 on December 15th, nearing its peak of $182 on Monday. Apple’s rally, along with similar uptrends observed across other mega-cap tech stocks, accordingly drove intra-day gains of 2.4% for the Nasdaq 100 following the Federal Reserve’s update, indicating investors’ preference to park their money in companies with robust growth prospects to counter risks from the impending rate increases.\nWith the coming holiday season a boon for Apple’s December-quarter sales, the stock’s valuation is expected to enter in the $3 trillion territory sooner than expected. Continued robust demand observed across Apple’s entire product line, generous share buy-backs, and additional revenue contributions expected within the foreseeable future resulting from new, cutting-edge products will also be key catalysts to support the company’s persistently strong fundamentals and keep the stock’s valuation above $3 trillion despite the impending rate hikes. Considering recent developments to the broader market and Apple’s growth prospects, we are raising our 12-month price target for the stock to $209.43.\nFY 2021 Overview and Recap of Fundamental Prospects\nFiscal 2021 was a big year for Apple. The company’s revenues for the year grew 33% from fiscal 2020 to $366 billion, despite on-and-off store closures resulting from recurring coronavirus outbreaks and supply chain constraints that have led to more than $9 billion in lost sales. Every product and service segment achieved record-setting revenues with more than 20% growth from previous year results. Much of the year’s success were attributable to a series of new product launches and feature upgrades. The most notable of which included the 5G-enabled family of iPhone 12s and iPhone 13s, as well as the M1-powered MacBook Pro and iPad Pro.\nKey Developments in Products\niPhone sales grew by 39% this year, the most amongst other segments, and drove more than half of Apple’s fiscal 2021 revenues. The results were a stark contrast to last year’s slump in demand for the mobile device when consumers braced for pandemic-driven economic uncertainties. iPhone sales are expected to remain robust in coming years as global 5G device upgrades continue to gather pace. The likely launch of a more affordable 5G-enabled iPhone SE in 2022 is also expected to further Apple’s market share gains by attracting switchers from “more than a billion non-premium Android users”, and drive the active installed base to another all-time high. The anticipated momentum is further corroborated by iPhone sales patterns observed in recent quarters following the launch of 5G-enabled iPhone 12s and iPhone 13s, where the number of upgraders and switchers grew by strong double digits. Apple’s strong ties with cell-phone carriers is also expected to drive meaningful iPhone sales contributions in coming years. Reputable wireless carriers in the U.S. like Verizon and AT&T have already been keen on promoting the sale of 5G-enabled devices like the iPhone 12 and iPhone 13 to encourage migration to the 5G network that they have spent billions of dollars on building across the nation. Telecom companies around the world are expected to spend more than $700 billion over the next five years on building-out the 5G network, underscoring significant additional growth opportunities ahead for the iPhone segment as carriers push for the strongest multiyear upgrade cycle in a decade to recoup their investments.\nMac and iPad sales also grew significantly in fiscal 2021, reaching record revenues of $35.2 billion and $31.9 billion, respectively. Following the introduction of the all-new M1-powered iMac earlier this year, Apple also unveiled the reimagined M1-Pro / M1-Max powered MacBook Pro in October. The custom M1 processors made the newest MacBook “better than any Intel-based device for nearly every productivity use case outside of gaming”. This accordingly drove incredible demand for the portable workstation from a diverse group of consumers, ranging from professional creators and photographers to corporate users and students. The company is estimated to have shipped over 3.2 million units of Mac products during the September quarter, which drove record-setting revenues for the segment, while boosting its rank in global PC sales to fourth place amongst other vendors. The introduction of M1-processors in Apple’s computing products also bolstered its position in capitalizing on the surge in global demand for PCs and multi-purpose tablets by allowing the company to build devices with innovative features that can be seamlessly integrated across its ecosystem of peripheral accessories and services to draw adjacent revenues. With accelerated adoption of hybrid work and study arrangements in the post-pandemic era, global demand for portable workstations like PCs and multi-purpose tablets are expected to remain elevated in coming years – the sectors are expected to grow into a $224.3 billion and$600 billion market, respectively, by 2025, which makes favorable trends for Apple’s Mac and iPad segments.\nRecent speculations on Apple’s intentions to strengthen its in-house chip development capacity will likely further the advancement of its technologies offered in coming years and draw additional demand to its products. The company is currently looking for engineers to build-out its capacity in the development of “wireless radios, radio-frequency integrated circuits, and a wireless system-on-chip (“SoC”)”, as well as “semiconductors for connecting Bluetooth and Wi-Fi”. These developments are expected to further enhance seamless integration across Apple’s devices and increase stickiness to its ecosystem of product and service offerings, making its chip unit one of the company’s “most prized assets”.\nKey Developments in Services\nOn the services front, a strong subscriber base had enabled the segment to hit record-setting revenues of more than $68.4 billion in fiscal 2021, up 27% from the prior year. To date, Apple has garnered more than 745 million paid subscribers across its high-margin service offerings, representing a five-fold increase over the last five years. Apple’s increasing push for a subscription-based business model across its wide variety of service platforms, ranging from Apple Music to iCloud storage solutions, paired with attractive new offerings that address key consumer trends in recent years have been a key driver to the company’s fast-expanding margins. New exciting add-on features introduced for existing service platforms include Spatial Audio and Lossless Audiofor Apple Music and the Apple Music Voice Plan. The new subscription-based offerings are expected to further Apple’s reach to adjacent opportunities stemming from increasing global usage of smartphones, laptops and other advanced home electronic products – for instance, the global music streaming market is expected to expand at a CAGR of 16% towards a projected value of $61 billion over the next five years, underscoring significant growth headroom for Apple Music. And Apple’s latest introduction of the Apple One bundle is expected to be a key contributor to furthering service segment sales in coming years by attracting new users to pay for subscription services that they otherwise would not have had it not been for the bundle discounts.\nContinued growth in market demand for mobile applications will also be a boon to Apple’s fast-growing services segment. The global market for mobile applications is expected to grow at a CAGR of 18.4% and reach a market value of more than $400 billion over the next five years. With AAPL hosting one of the largest and most used app stores in the world, it would be reasonable to assume that related revenues would grow at a similar pace. Despite mounting global regulatory scrutiny over Apple’s alleged antitrust violations with its App Store – the most notable of which stemming from an ongoing legal battle with Epic Games– the company’s continued focus on ensuring user privacy, security, and ease of transactions might have saved the day. According to a survey of 4,000 Apple product users performed by Morgan Stanley across the U.S. and China, most have indicated loyalty to Apple’s App store due to the “value of security, privacy and ease of transactions” provided, despite developers pushing for rights to transact outside of Apple’s ecosystem. Apple’s recent success in delaying App Store changes ordered by U.S. District Judge Yvonne Gonzalez Rogers in September as part of a year-long lawsuit brought against by Epic Games is another sign of the App Store’s continued strength. The company has argued that the court-mandated order to allow App Store users to “buy directly from developers on the web” would be a threat to the security of their privacy.\nCurrently, developers are fighting for their rights to have app users transact outside of Apple’s ecosystem, which charges developers a hefty commission fee of up to 30% on all purchases. As Apple continues with its appeal of the ruling, the ultimate court decision on whether App Store changes would need to be implemented could take at least another year. But even with an unfavorable ruling, where Apple would have to allow developers to redirect users to payments outside of its ecosystem and/or lower its in-app purchase commission rate, App Store revenues are only expected to decrease by at most $4 billion per year which will not place a material impact on its valuation prospects. The actual quantified impact might even be less than what the market has forecasted, considering the value that App Store users have ascribed to the level of security and convenience that Apple has offered through the platform.\nKey Catalysts Ahead\nApple is undoubtedly a key gateway to bringing emerging technologies to the mainstream due to its massive installed base of devices and related service platform users. And because of this, the highly anticipated launch of cutting-edge products like AR/VR headsets and autonomous vehicles in coming years will likely catapult the stock to new heights. The pioneer of disruptive consumer electronics and devices is expected to launch a VR headset and AR glasses by early 2023, a nascent technology that has been picking up steam in recent months with increasing talks of the metaverse. Similar to most VR headsets already available in the market, Apple’s will feature a 3D display to enable an immersive environment for a variety of activities from gaming to communicating. The differentiating factor will be the company’s plans to implement best-in-class graphics chips in the device to facilitate ultra-high-resolution displays. The impending VR headset will ultimately lay the foundation for its AR glasses, which Apple expects to be the “larger opportunity”.\nOver the next five years, opportunities pertaining to the metaverse are expected to blossom into an $800 billion market. Related software and service sales are expected to drive more than 70% of the projected addressable market, while the remainder will likely be driven by hardware sales. This makes strong tailwinds for Apple, which does not only stand to capitalize on growing metaverse opportunities through the sale of its impending AR/VR headset, but also adjacent revenues pertaining to the usage of related apps, software and service platforms.\nSpeculations on Apple’s ongoing development of a self-driving electric car is also expected to materialize into meaningful upsides for the stock within the foreseeable future. The company is now planning to launch the new product category by 2025, at which time the global autonomous vehicle market is expected to reach a value of more than $200 billion. The eventual car will likely feature homages to its existing product portfolio, like an “iPad-like touch screen” infotainment system. And on the technology front, Apple is believed to have completed the development of a custom silicon for powering the vehicle’s autonomous driving capabilities. The newest chips will soon be implemented into its existing fleet of retrofitted SUVs for testing in California according to the state’s DMV, a sign that the impending launch is near.\nWhile Apple’s current market value may already be reflective of “consistent material revenue contributions from new products and services over time”, additional upsides from the above-mentioned new product category launches are still missing. But this will likely change within the next 12 months as the impending launch of an Apple AR/VR device draws near. Near-term projections on early AR/VR device sales are expected to boost Apple’s valuation by at least $150 billion. And over time when metaverse trends continue to gain mainstream traction, Apple is expected to generate more than $200 billion in annual revenues from the AR/VR segment, which could add another 15% on top of its current market value.\nValuation Prospects and Potential Impacts from the Impending Rate Increases\nAdjusting our most recent forecast for Apple’s fiscal 2021 year-end results and December-quarter guidance, our base case projection estimates total net sales of $439.3 billion by the end of fiscal 2022, with further growth towards $668.5 billion by fiscal 2026. The growth assumptions applied across segment revenues in our forecast remains largely unchanged from our most recent analysis on the stock, with additional consideration for management’s near-term outlook on supply constraint impacts and the impending rate hikes. Specifically, lost revenues of $9 billion (i.e. approximately $3 billion during June-quarter and $6 billion during September-quarter) attributable to industry-wide chip shortages and pandemic-driven manufacturing delays during the second half of fiscal 2021 is expected to worsen into the first half of fiscal 2022. While there have been observed improvements to supply chain challenges, continuously robust demand for Apple products is what will drive a higher volume of lost sales in coming quarters. Nonetheless, Apple remains well-positioned for strong fundamentals ahead, which will help to alleviate some of investors’ concerns on valuation due to impending rate hikes.\n\ni. Base Case Financial Projections:\nSource: Author, with data from our internal financial forecast (Apple_-_Forecasted_Financial_Information.pdf). Please refer here for further detail on material growth assumptions applied.\nDrawing on the above considerations, our 12-month price target for the Apple stock has been revised to $209.43. This represents upside potential of more than 22% based on the last traded price of $171.14 on December 17th.\nSource: Author, with data from our internal valuation analysis.\nThe revised price target is derived using a discounted cash flow (“DCF”) analysis over a ten-year discrete period in conjunction with the financial projections updated for Apple’s recent developments as analyzed in earlier sections. Similar to our original valuation analysis, we have applied a WACC of 8% to discount Apple’s projected free cash flows. The discount function is reflective of the company’s risk profile, taking into consideration its current capital structure and strong balance sheet. Apple’s cost of capital for growth is not expected to change significantly as a result of the impending rate hikes, considering a large portion of its existing debt are fixed-rate notes. The company also boasts a consistently robust net cash position, in which management intends to deploy towards additional growth without having to incur incremental capital costs ahead of interest rate increases. This is expected to further cement investors’ confidence in the Apple stock, as they continue their “flight to quality” amidst fear of broader market pressure from rising interest rates.\nThe valuation analysis also assumes an exit multiple of 19.8x, which is consistent with current market expectations on Apple’s growth trajectory over the forecasted period. The applied exit multiple assumption could even improve further within the next 12 months, considering the impending launch of new product segments like AR/VR devices and autonomous vehicles, and offset any potential impacts from the upcoming increases to interest rates.\ni. Base Case Valuation Analysis:\n\nii. Sensitivity Analysis:\nSource: Author, with data from our internal valuation analysis.\nConclusion\nBased on the foregoing analysis, the anticipated addition of 175 to 200 basis points to the current near-zero Federal Fund Rate over the next two years is not expected to cause material adverse impacts to Apple’s performance from both a fundamental and valuation perspective. Robust global demand for Apple products and services, paired with new innovations are expected to further bolster the company’s fundamental growth prospects. This would accordingly bring additional improvements to Apple’s balance sheet, and further strengthen its position against downward valuation pressures from broader macro headwinds. In fact, increasing demand for quality growth stocks to counter risks resulting from the impending rate hikes might even fuel Apple’s valuation growth momentum. On these considerations, Apple remains one of the best-performing tech stocks to own given its robust uptrend to $3 trillion in the near-term despite impending rate hikes.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":3220,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607858455,"gmtCreate":1639527425876,"gmtModify":1639527425977,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"okay","listText":"okay","text":"okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607858455","repostId":"1193477857","repostType":4,"repost":{"id":"1193477857","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639524687,"share":"https://www.laohunote.com/m/news/1193477857?lang=zh_CN&edition=full","pubTime":"2021-12-15 07:31","market":"us","language":"en","title":"Digital World Acquisition jumped 5.7% in extended trading<blockquote>Digital World 收购在延长交易中上涨 5.7%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1193477857","media":"Tiger Newspress","summary":"Digital World Acquisition jumped 5.7% in extended trading after Trump Media & Technology Group announced partnership with Rumble.Trump Media & Technology Group, today announced that it has entered into a wide-ranging technology and cloud services agreement with Rumble Inc. . As part of the partnership, Rumble will deliver video and streaming for TRUTH Social. TMTG and Rumble are also in exclusive negotiations for Rumble to provide infrastructure and video delivery services for TMTG’s Subscriptio","content":"<p>Digital World Acquisition jumped 5.7% in extended trading&nbsp;after&nbsp;Trump Media &amp; Technology Group announced partnership with Rumble.</p><p><blockquote>特朗普媒体技术集团宣布与 Rumble 合作后，Digital World Acquisition 在盘后交易中上涨 5.7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a735359629a1d1ea9d8f8cabd7c1ef4d\" tg-width=\"841\" tg-height=\"619\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <u>Trump Media &amp; Technology Group</u>(‘TMTG’), today announced that it has entered into a wide-ranging technology and cloud services agreement with Rumble Inc. (‘Rumble’). As part of the partnership, Rumble will deliver video and streaming for TRUTH Social. TMTG and Rumble are also in exclusive negotiations for Rumble to provide infrastructure and video delivery services for TMTG’s Subscription Video On-Demand product, TMTG+.</p><p><blockquote><u>特朗普媒体与科技集团</u>（“TMTG”）今天宣布，它已与 Rumble Inc.（“Rumble”）签订了一项广泛的技术和云服务协议。作为合作的一部分，Rumble将为TRUTH Social提供视频和流媒体。TMTG 和 Rumble 还在就 Rumble 为 TMTG 的订阅视频点播产品 TMTG+ 提供基础设施和视频交付服务进行独家谈判。</blockquote></p><p> President Donald J. Trump, Chairman of TMTG, commented, “As part of our mission, TMTG continues to align with service providers who do not discriminate against political ideology. Therefore, I have selected the Rumble Cloud to serve as a critical backbone for TMTG infrastructure. TMTG has already launched Truth Social on the Rumble Cloud for invited guests only, and the initial Beta launch has been excellent. America is ready for TRUTH Social, and the end to cancel culture.”</p><p><blockquote>TMTG 主席 Donald J. Trump 总统评论说：“作为我们使命的一部分，TMTG 将继续与不歧视政治意识形态的服务提供商保持一致。因此，我选择 Rumble Cloud 作为 TMTG 基础设施的重要支柱。TMTG 已经在 Rumble Cloud 上推出了仅限受邀嘉宾使用的Truth Social，最初的测试版发布非常出色。美国已经准备好迎接TRUTH Social和取消文化的结局。”</blockquote></p><p> Chris Pavlovski, the Founder and Chief Executive Officer of Rumble, said, \"Rumble is excited to provide technology and cloud services to TMTG. We continue to build the infrastructure to deliver a free, open, and neutral internet. Rumble was designed to be immune to cancel culture, and we are at the forefront of a movement that believes everyone benefits from access to a neutral platform that hosts diverse ideas and opinions.”</p><p><blockquote>Rumble 创始人兼首席执行官克里斯-帕夫洛夫斯基（Chris Pavlovski）表示：“Rumble 很高兴能为 TMTG 提供技术和云服务。我们将继续建设基础设施，以提供免费、开放和中立的互联网。Rumble 的设计初衷是不受取消文化的影响，我们正走在一场运动的前沿，这场运动相信每个人都能从访问一个容纳不同想法和观点的中立平台中受益。”</blockquote></p><p> Rumble is a high-growth neutral video distribution platform. Rumble has created rails and independent infrastructure that are designed to be immune to cancel culture. Rumble's mission is to restore the internet to its roots by protecting a free and open internet. Rumble recently announced the execution of a definitive business combination agreement with CFVI (CF Acquisition Corp. VI).</p><p><blockquote>Rumble是一个高增长的中立视频分发平台。隆隆创造了轨道和独立的基础设施，旨在免疫取消文化。Rumble的使命是通过保护一个自由开放的互联网，让互联网回归其根源。Rumble 最近宣布与 CFVI (CF Acquisition Corp. VI) 签署最终业务合并协议。</blockquote></p><p> CFVI&nbsp;stock&nbsp;also&nbsp;surged&nbsp;14.1%&nbsp;in extended trading.</p><p><blockquote>CFVI 股价在盘后交易中也飙升 14.1%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c149a543c2a8396408b755d5ebd12b3b\" tg-width=\"840\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Digital World Acquisition jumped 5.7% in extended trading<blockquote>Digital World 收购在延长交易中上涨 5.7%</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\">\nDigital World Acquisition jumped 5.7% in extended trading<blockquote>Digital World 收购在延长交易中上涨 5.7%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-15 07:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Digital World Acquisition jumped 5.7% in extended trading&nbsp;after&nbsp;Trump Media &amp; Technology Group announced partnership with Rumble.</p><p><blockquote>特朗普媒体技术集团宣布与 Rumble 合作后，Digital World Acquisition 在盘后交易中上涨 5.7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a735359629a1d1ea9d8f8cabd7c1ef4d\" tg-width=\"841\" tg-height=\"619\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <u>Trump Media &amp; Technology Group</u>(‘TMTG’), today announced that it has entered into a wide-ranging technology and cloud services agreement with Rumble Inc. (‘Rumble’). As part of the partnership, Rumble will deliver video and streaming for TRUTH Social. TMTG and Rumble are also in exclusive negotiations for Rumble to provide infrastructure and video delivery services for TMTG’s Subscription Video On-Demand product, TMTG+.</p><p><blockquote><u>特朗普媒体与科技集团</u>（“TMTG”）今天宣布，它已与 Rumble Inc.（“Rumble”）签订了一项广泛的技术和云服务协议。作为合作的一部分，Rumble将为TRUTH Social提供视频和流媒体。TMTG 和 Rumble 还在就 Rumble 为 TMTG 的订阅视频点播产品 TMTG+ 提供基础设施和视频交付服务进行独家谈判。</blockquote></p><p> President Donald J. Trump, Chairman of TMTG, commented, “As part of our mission, TMTG continues to align with service providers who do not discriminate against political ideology. Therefore, I have selected the Rumble Cloud to serve as a critical backbone for TMTG infrastructure. TMTG has already launched Truth Social on the Rumble Cloud for invited guests only, and the initial Beta launch has been excellent. America is ready for TRUTH Social, and the end to cancel culture.”</p><p><blockquote>TMTG 主席 Donald J. Trump 总统评论说：“作为我们使命的一部分，TMTG 将继续与不歧视政治意识形态的服务提供商保持一致。因此，我选择 Rumble Cloud 作为 TMTG 基础设施的重要支柱。TMTG 已经在 Rumble Cloud 上推出了仅限受邀嘉宾使用的Truth Social，最初的测试版发布非常出色。美国已经准备好迎接TRUTH Social和取消文化的结局。”</blockquote></p><p> Chris Pavlovski, the Founder and Chief Executive Officer of Rumble, said, \"Rumble is excited to provide technology and cloud services to TMTG. We continue to build the infrastructure to deliver a free, open, and neutral internet. Rumble was designed to be immune to cancel culture, and we are at the forefront of a movement that believes everyone benefits from access to a neutral platform that hosts diverse ideas and opinions.”</p><p><blockquote>Rumble 创始人兼首席执行官克里斯-帕夫洛夫斯基（Chris Pavlovski）表示：“Rumble 很高兴能为 TMTG 提供技术和云服务。我们将继续建设基础设施，以提供免费、开放和中立的互联网。Rumble 的设计初衷是不受取消文化的影响，我们正走在一场运动的前沿，这场运动相信每个人都能从访问一个容纳不同想法和观点的中立平台中受益。”</blockquote></p><p> Rumble is a high-growth neutral video distribution platform. Rumble has created rails and independent infrastructure that are designed to be immune to cancel culture. Rumble's mission is to restore the internet to its roots by protecting a free and open internet. Rumble recently announced the execution of a definitive business combination agreement with CFVI (CF Acquisition Corp. VI).</p><p><blockquote>Rumble是一个高增长的中立视频分发平台。隆隆创造了轨道和独立的基础设施，旨在免疫取消文化。Rumble的使命是通过保护一个自由开放的互联网，让互联网回归其根源。Rumble 最近宣布与 CFVI (CF Acquisition Corp. VI) 签署最终业务合并协议。</blockquote></p><p> CFVI&nbsp;stock&nbsp;also&nbsp;surged&nbsp;14.1%&nbsp;in extended trading.</p><p><blockquote>CFVI 股价在盘后交易中也飙升 14.1%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c149a543c2a8396408b755d5ebd12b3b\" tg-width=\"840\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193477857","content_text":"Digital World Acquisition jumped 5.7% in extended trading after Trump Media & Technology Group announced partnership with Rumble.\n\nTrump Media & Technology Group(‘TMTG’), today announced that it has entered into a wide-ranging technology and cloud services agreement with Rumble Inc. (‘Rumble’). As part of the partnership, Rumble will deliver video and streaming for TRUTH Social. TMTG and Rumble are also in exclusive negotiations for Rumble to provide infrastructure and video delivery services for TMTG’s Subscription Video On-Demand product, TMTG+.\nPresident Donald J. Trump, Chairman of TMTG, commented, “As part of our mission, TMTG continues to align with service providers who do not discriminate against political ideology. Therefore, I have selected the Rumble Cloud to serve as a critical backbone for TMTG infrastructure. TMTG has already launched Truth Social on the Rumble Cloud for invited guests only, and the initial Beta launch has been excellent. America is ready for TRUTH Social, and the end to cancel culture.”\nChris Pavlovski, the Founder and Chief Executive Officer of Rumble, said, \"Rumble is excited to provide technology and cloud services to TMTG. We continue to build the infrastructure to deliver a free, open, and neutral internet. Rumble was designed to be immune to cancel culture, and we are at the forefront of a movement that believes everyone benefits from access to a neutral platform that hosts diverse ideas and opinions.”\nRumble is a high-growth neutral video distribution platform. Rumble has created rails and independent infrastructure that are designed to be immune to cancel culture. Rumble's mission is to restore the internet to its roots by protecting a free and open internet. Rumble recently announced the execution of a definitive business combination agreement with CFVI (CF Acquisition Corp. VI).\nCFVI stock also surged 14.1% in extended trading.","news_type":1,"symbols_score_info":{"CFVI":0.9,"DWAC":0.9}},"isVote":1,"tweetType":1,"viewCount":3464,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605023911,"gmtCreate":1639094950938,"gmtModify":1639094951062,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"thanks for sharing","listText":"thanks for sharing","text":"thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605023911","repostId":"2190343645","repostType":2,"repost":{"id":"2190343645","kind":"news","pubTimestamp":1639085987,"share":"https://www.laohunote.com/m/news/2190343645?lang=zh_CN&edition=full","pubTime":"2021-12-10 05:39","market":"sh","language":"zh","title":"外媒头条：美国CPI恐再“爆表”！是时候对冲通胀了","url":"https://stock-news.laohu8.com/highlight/detail?id=2190343645","media":"新浪财经","summary":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险\n\n\n2、美国商务部长称若不能解决芯片危机会造成毁灭性影响\n\n\n3、美国家庭净资产创疫后复","content":"<p><b>全球财经媒体昨夜今晨共同关注的头条新闻主要有：</b></p>\n<blockquote>\n <b>1、IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险</b>\n</blockquote>\n<blockquote>\n <b>2、美国商务部长称若不能解决芯片危机会造成毁灭性影响</b>\n</blockquote>\n<blockquote>\n <b>3、美国家庭净资产创疫后复苏以来最低增幅</b>\n</blockquote>\n<blockquote>\n <b>4、美国CPI数据恐进一步攀升 <a href=\"https://laohu8.com/S/BLK\">贝莱德</a>：现在是时候对冲通胀了</b>\n</blockquote>\n<blockquote>\n <b>5、美国上周首次申请失业救济人数降至52年最低 受季节性因素影响</b>\n</blockquote>\n<blockquote>\n <b>6、尽管面临疫情挑战 标普仍预计明年石油需求将增长</b>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/171ee93eeb2ef6ad06cf1393d17fe165\" tg-width=\"720\" tg-height=\"461\" referrerpolicy=\"no-referrer\"></p>\n<p><b>IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险</b></p>\n<p>国际货币基金组织（IMF）首席经济学家周四表示，各国央行没有空间维持宽松的货币政策和低利率，并警告说，新冠疫情的代价可能远高于预期。</p>\n<p>IMF首席经济学家Gita Gopinath表示，除了目前预计的12.5万亿美元损失之外，像奥密克戎（Omicron）这样更易传播的新冠变体可能会使全球经济再损失5.3万亿美元。</p>\n<p>“我们现在处于这样一个阶段，全球各国根本没有空间保持非常宽松的货币政策，将利率维持在极低的水平。我们看到全球各地的通胀压力都在积聚，”她说。</p>\n<p>Gopinath补充说：“因此，想想这样一种情况，疫情可能会持续更长时间，供应中断时间会更长，从而带来通胀压力，然后我们面临着真正风险，即滞胀担忧。”</p>\n<p><img src=\"https://static.tigerbbs.com/5212ae28f04e24df1b80bd53b47e900c\" tg-width=\"720\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国商务部长称若不能解决芯片危机会造成毁灭性影响</b></p>\n<p>美国商务部长雷蒙多表示，如果国会不马上通过拜登政府旨在缓解芯片短缺问题的法案，对美国经济将产生“毁灭性”影响。</p>\n<p>“延后通过的后果再怎么说都不夸张，”雷蒙多周四接受采访时称。“如果不能在圣诞节前完成，就必须在1月完成，因为长期回避这个问题的后果对我们的经济和国家安全来说确实是毁灭性的，”她说道。</p>\n<p>雷蒙多一直在敦促国会通过《芯片法案》以提供520亿美元帮助计算机芯片制造商，缓解供应短缺局面。</p>\n<p>德克萨斯州共和党参议员John Cornyn周三表示，《芯片法案》可能要到2月才能通过。</p>\n<p><img src=\"https://static.tigerbbs.com/a6b793e107dcfc6eafc907b0b32a952c\" tg-width=\"720\" tg-height=\"406\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国家庭净资产创疫后复苏以来最低增幅</b></p>\n<p>美国家庭净资产增速在第三季度降温，股市的暂时回撤抵消了房价上涨的财富效应。</p>\n<p>美联储周四发布的数据显示，在第二季度增加6.14万亿美元之后，家庭净资产在第三季度增加近2.4万亿美元，增幅为1.7%。虽然季度增量是疫情复苏中最小的一次。</p>\n<p>第三季度增长包括家庭房地产增值1.4万亿美元，但股票价值减少近3200亿美元。</p>\n<p>不过，并非所有人都从大流行期间的股价飙升和房地产热潮中受益。调查数据表明，仅有略多于一半的美国人持有股票。而对于租房居住的大约三分之一家庭来说，租金正在迅速上升。</p>\n<p>较高的储蓄水平仍然是家庭支出的一个重要来源，不过随着联邦政府刺激措施的减弱，储蓄有所下降。第三季度私人储蓄净额折年率增长2.84万亿美元，为2020年初以来最慢增速。</p>\n<p><img src=\"https://static.tigerbbs.com/c01e6086ac39e2b3a4bd7ceb2827ad79\" tg-width=\"720\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国CPI数据恐进一步攀升 <a href=\"https://laohu8.com/S/BLK\">贝莱德</a>：现在是时候对冲通胀了</b></p>\n<p>贝莱德的Gargi Chaudhuri预计周五的通胀数据将超过华尔街的预期，并建议投资者对冲更高的通胀。</p>\n<p>“我们可能会得到比市场定价略强一些的东西，”这位贝莱德<a href=\"https://laohu8.com/S/EEME\">iShares</a>安硕美洲投资策略主管周四接受采访时表示。“我预计市场中的部分商品门类以及服务领域会更强劲，例如住房通胀。”</p>\n<p>通胀处于数十年来的最高水平。根据经济学家预测，周五的数据显示11月份通胀率达到6.8%，将是里根时代以来的最高水平，也是许多美国人有生以来遇到的最高通胀。</p>\n<p>Chaudhuri表示，她预计2022年晚些时候通胀将放缓，而商品和服务价格将保持在疫情前水平之上。为了保护自己，投资者应该关注那些能够抵御通胀侵蚀回报的资产，例如“能够转嫁价格上涨的公司的股票”。</p>\n<p><img src=\"https://static.tigerbbs.com/fcc456868080840479884603ed672cd3\" tg-width=\"720\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国上周首次申请失业救济人数降至52年最低 受季节性因素影响</b></p>\n<p>美国上周首次申请失业救济人数降至1969年以来最低水平，凸显出对数据进行季节性调整的难度。</p>\n<p>美国劳工部周四发布的数据显示，截至12月4日的一周，首次申领失业救济人数比前一周减少4.3万，至18.4万人。经济学家中值预期为22万人。</p>\n<p>此前两周该数据已经出现大幅下降，许多经济学家将其归因于假期前后季节性波动因素导致数据调整难度较大。未经调整的首次申领失业救济人数增加约64000人。</p>\n<p>随着美国人重返工作岗位，加之雇主努力留住员工，今年以来，失业救济申请人数呈下降趋势。</p>\n<p>物价上涨和新冠疫情继续加大企业经营及招聘活动难度。上月非农就业人数创下今年以来最小增幅，普遍出现劳动力短缺情况。</p>\n<p><img src=\"https://static.tigerbbs.com/474eb4abca6af4679c83ff8cd42f157c\" tg-width=\"720\" tg-height=\"479\" referrerpolicy=\"no-referrer\"></p>\n<p><b>尽管面临疫情挑战 标普仍预计明年石油需求将增长</b></p>\n<p><a href=\"https://laohu8.com/S/SPGI\">标普全球</a>普氏称，尽管全球仍在继续应对冠状病毒新变种，但明年石油需求仍将增长。</p>\n<p><a href=\"https://laohu8.com/S/SPGI\">标普全球</a>普氏的供应和生产主管Shin Kim在该公司2022年能源展望报告中表示，2022年消费增长的很大一部分将来自航油，以及市场对汽车燃料等其他石油产品的需求上升。</p>\n<p>“石油需求增长的基础稳固，”她说，预计明年的日需求量增幅在300万至640万桶之间。</p>\n<p>不过，能源市场的基调将取决于供应增长的步伐，经过两年的库存萎缩后，生产需要反弹才能满足需求。伊朗恢复供应将产生最大的影响。</p>\n<p>“如果我们不考虑伊朗，而且在其他地方发生重大供应中断，那就意味着真正的问题将是我们是否将试探100美元/桶的油价，” Kim说。</p>\n<p>她说，眼下市场正进入季节性油价疲软时期，但随着需求上升导致供应吃紧，油价5月份后应该会反弹。普氏预计，原油价格将在2022年中期左右回到每桶80美元的水平。</p>","source":"XLCJ","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>外媒头条：美国CPI恐再“爆表”！是时候对冲通胀了</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{ 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n外媒头条：美国CPI恐再“爆表”！是时候对冲通胀了\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-10 05:39 北京时间&nbsp;&nbsp;&nbsp;<a href=https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-12-10/doc-ikyamrmy7981726.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险\n\n\n2、美国商务部长称若不能解决芯片危机会造成毁灭性影响\n\n\n3、美国家庭净资产创疫后复苏以来最低增幅\n\n\n4、美国CPI数据恐进一步攀升 贝莱德：现在是时候对冲通胀了\n\n\n5、美国上周首次申请失业救济人数降至52年最低 受季节性因素影响\n\n\n6、尽管面临疫情挑战 标普仍预计明年石油需求...</p>\n\n<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-12-10/doc-ikyamrmy7981726.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/017a2d51f9605f643f552ed0e3997176","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-12-10/doc-ikyamrmy7981726.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2190343645","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险\n\n\n2、美国商务部长称若不能解决芯片危机会造成毁灭性影响\n\n\n3、美国家庭净资产创疫后复苏以来最低增幅\n\n\n4、美国CPI数据恐进一步攀升 贝莱德：现在是时候对冲通胀了\n\n\n5、美国上周首次申请失业救济人数降至52年最低 受季节性因素影响\n\n\n6、尽管面临疫情挑战 标普仍预计明年石油需求将增长\n\n\nIMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险\n国际货币基金组织（IMF）首席经济学家周四表示，各国央行没有空间维持宽松的货币政策和低利率，并警告说，新冠疫情的代价可能远高于预期。\nIMF首席经济学家Gita Gopinath表示，除了目前预计的12.5万亿美元损失之外，像奥密克戎（Omicron）这样更易传播的新冠变体可能会使全球经济再损失5.3万亿美元。\n“我们现在处于这样一个阶段，全球各国根本没有空间保持非常宽松的货币政策，将利率维持在极低的水平。我们看到全球各地的通胀压力都在积聚，”她说。\nGopinath补充说：“因此，想想这样一种情况，疫情可能会持续更长时间，供应中断时间会更长，从而带来通胀压力，然后我们面临着真正风险，即滞胀担忧。”\n\n美国商务部长称若不能解决芯片危机会造成毁灭性影响\n美国商务部长雷蒙多表示，如果国会不马上通过拜登政府旨在缓解芯片短缺问题的法案，对美国经济将产生“毁灭性”影响。\n“延后通过的后果再怎么说都不夸张，”雷蒙多周四接受采访时称。“如果不能在圣诞节前完成，就必须在1月完成，因为长期回避这个问题的后果对我们的经济和国家安全来说确实是毁灭性的，”她说道。\n雷蒙多一直在敦促国会通过《芯片法案》以提供520亿美元帮助计算机芯片制造商，缓解供应短缺局面。\n德克萨斯州共和党参议员John Cornyn周三表示，《芯片法案》可能要到2月才能通过。\n\n美国家庭净资产创疫后复苏以来最低增幅\n美国家庭净资产增速在第三季度降温，股市的暂时回撤抵消了房价上涨的财富效应。\n美联储周四发布的数据显示，在第二季度增加6.14万亿美元之后，家庭净资产在第三季度增加近2.4万亿美元，增幅为1.7%。虽然季度增量是疫情复苏中最小的一次。\n第三季度增长包括家庭房地产增值1.4万亿美元，但股票价值减少近3200亿美元。\n不过，并非所有人都从大流行期间的股价飙升和房地产热潮中受益。调查数据表明，仅有略多于一半的美国人持有股票。而对于租房居住的大约三分之一家庭来说，租金正在迅速上升。\n较高的储蓄水平仍然是家庭支出的一个重要来源，不过随着联邦政府刺激措施的减弱，储蓄有所下降。第三季度私人储蓄净额折年率增长2.84万亿美元，为2020年初以来最慢增速。\n\n美国CPI数据恐进一步攀升 贝莱德：现在是时候对冲通胀了\n贝莱德的Gargi Chaudhuri预计周五的通胀数据将超过华尔街的预期，并建议投资者对冲更高的通胀。\n“我们可能会得到比市场定价略强一些的东西，”这位贝莱德iShares安硕美洲投资策略主管周四接受采访时表示。“我预计市场中的部分商品门类以及服务领域会更强劲，例如住房通胀。”\n通胀处于数十年来的最高水平。根据经济学家预测，周五的数据显示11月份通胀率达到6.8%，将是里根时代以来的最高水平，也是许多美国人有生以来遇到的最高通胀。\nChaudhuri表示，她预计2022年晚些时候通胀将放缓，而商品和服务价格将保持在疫情前水平之上。为了保护自己，投资者应该关注那些能够抵御通胀侵蚀回报的资产，例如“能够转嫁价格上涨的公司的股票”。\n\n美国上周首次申请失业救济人数降至52年最低 受季节性因素影响\n美国上周首次申请失业救济人数降至1969年以来最低水平，凸显出对数据进行季节性调整的难度。\n美国劳工部周四发布的数据显示，截至12月4日的一周，首次申领失业救济人数比前一周减少4.3万，至18.4万人。经济学家中值预期为22万人。\n此前两周该数据已经出现大幅下降，许多经济学家将其归因于假期前后季节性波动因素导致数据调整难度较大。未经调整的首次申领失业救济人数增加约64000人。\n随着美国人重返工作岗位，加之雇主努力留住员工，今年以来，失业救济申请人数呈下降趋势。\n物价上涨和新冠疫情继续加大企业经营及招聘活动难度。上月非农就业人数创下今年以来最小增幅，普遍出现劳动力短缺情况。\n\n尽管面临疫情挑战 标普仍预计明年石油需求将增长\n标普全球普氏称，尽管全球仍在继续应对冠状病毒新变种，但明年石油需求仍将增长。\n标普全球普氏的供应和生产主管Shin Kim在该公司2022年能源展望报告中表示，2022年消费增长的很大一部分将来自航油，以及市场对汽车燃料等其他石油产品的需求上升。\n“石油需求增长的基础稳固，”她说，预计明年的日需求量增幅在300万至640万桶之间。\n不过，能源市场的基调将取决于供应增长的步伐，经过两年的库存萎缩后，生产需要反弹才能满足需求。伊朗恢复供应将产生最大的影响。\n“如果我们不考虑伊朗，而且在其他地方发生重大供应中断，那就意味着真正的问题将是我们是否将试探100美元/桶的油价，” Kim说。\n她说，眼下市场正进入季节性油价疲软时期，但随着需求上升导致供应吃紧，油价5月份后应该会反弹。普氏预计，原油价格将在2022年中期左右回到每桶80美元的水平。","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3374,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600549159,"gmtCreate":1638178569600,"gmtModify":1638179120435,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/600549159","repostId":"1193304775","repostType":4,"repost":{"id":"1193304775","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1638178459,"share":"https://www.laohunote.com/m/news/1193304775?lang=zh_CN&edition=full","pubTime":"2021-11-29 17:34","market":"us","language":"en","title":"5 Stocks To Watch For November 29, 2021<blockquote>2021 年 11 月 29 日值得关注的 5 只股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1193304775","media":"Benzinga Earnings","summary":"Some of the stocks that may grab investor focus today are:\n\nLi Auto's Q3 results beat estimates.its ","content":"<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p> <ul>  <li>Li Auto's Q3 results beat estimates.its&nbsp;total revenues reached $1.21 billion;deliveries reached 25,116 vehicles;gross margin reached 23.3%.Wall Street expects&nbsp;<b>Li Auto Inc.</b>&nbsp;to report a quarterly loss at $0.02 per share on revenue of $1.16 billion before the opening bell. Li Auto shares rose 5.8% to $34.29 in premarket trading&nbsp;Monday.</li>  <li><b>Moderna, Inc.</b>, which was the second biopharma company to get authorization for a COVID-19 vaccine, is confident it will have something on the table shortly to tackle the latest virus threat. The company’s current vaccine will be tested against the new variant, and its ability to offer immunity will likely be known over the next couple of weeks, the company's chief medical officer Paul Burton reportedly said on BBC's \"Andrew Marr Show.\" Moderna shares rose 10.2% to $363.3 in premarket tradingMonday.</li>  <li>Analysts are expecting&nbsp;<b>StoneX Group Inc.</b>&nbsp;to have earned $1.44 per share on revenue of $280.55 million for the latest quarter. The company will release earnings after the closing bell. StoneX shares dropped 3.4% to close at $66.70 on Friday.</li> </ul> <ul>  <li><b>Tesla, Inc</b>&nbsp;will likely commence production operations at its Giga Berlin in Germany in December, Bloomberg reported, citing German magazine Automobilwoche. Tesla shares rallied more&nbsp;than&nbsp;2% to $1,106.2 in premarket tradingMonday.</li>  <li>Frontline's Q3 results missed estimates.Analysts expect&nbsp;<b>Frontline Ltd.</b>&nbsp;to post a quarterly loss at $1.58 per share on revenue of $605.57 million before the opening bell. Frontline shares dropped 2.8% to&nbsp;$6.61 in premarket tradingMonday.</li> </ul></p><p><blockquote><ul><li>理想汽车第三季度业绩超出预期，总收入达到12.1亿美元；交付量达到25,116辆；毛利率达到23.3%。华尔街预期<b>理想汽车公司。</b>开盘前报告季度亏损为每股 0.02 美元，营收为 11.6 亿美元。周一盘前交易中，理想汽车股价上涨 5.8%，至 34.29 美元。</li><li><b>现代公司。</b>该公司是第二家获得 COVID-19 疫苗授权的生物制药公司，该公司有信心很快就会拿出一些东西来应对最新的病毒威胁。据报道，该公司首席医疗官保罗-伯顿（Paul Burton）在英国广播公司（BBC）的 “安德鲁-马尔秀”（Andrew Marr Show）节目中说，该公司目前的疫苗将针对新变种进行测试，其提供免疫力的能力可能会在未来几周内揭晓。Moderna 股价在周一盘前交易中上涨 10.2%，至 363.3 美元。</li><li>分析师预计<b>斯通克斯集团公司。</b>最新季度每股收益 1.44 美元，营收为 2.8055 亿美元。该公司将在收盘后发布财报。StoneX 股价周五下跌 3.4%，收于 66.70 美元。</li></ul><ul><li><b>特斯拉公司</b>据彭博社援引德国杂志《Automobilwoche》报道，该公司可能会于 12 月在德国柏林超级工厂开始生产运营。周一盘前交易中，特斯拉股价上涨超过 2%，至 1,106.2 美元。</li><li>Frontline 第三季度业绩低于预期。分析师预期<b>前线有限公司</b>开盘前，季度亏损为每股 1.58 美元，营收为 6.0557 亿美元。周一盘前交易中，Frontline 股价下跌 2.8%，至 6.61 美元。</li></ul></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>5 Stocks To Watch For November 29, 2021<blockquote>2021 年 11 月 29 日值得关注的 5 只股票</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\">\n5 Stocks To Watch For November 29, 2021<blockquote>2021 年 11 月 29 日值得关注的 5 只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-11-29 17:34</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p> <ul>  <li>Li Auto's Q3 results beat estimates.its&nbsp;total revenues reached $1.21 billion;deliveries reached 25,116 vehicles;gross margin reached 23.3%.Wall Street expects&nbsp;<b>Li Auto Inc.</b>&nbsp;to report a quarterly loss at $0.02 per share on revenue of $1.16 billion before the opening bell. Li Auto shares rose 5.8% to $34.29 in premarket trading&nbsp;Monday.</li>  <li><b>Moderna, Inc.</b>, which was the second biopharma company to get authorization for a COVID-19 vaccine, is confident it will have something on the table shortly to tackle the latest virus threat. The company’s current vaccine will be tested against the new variant, and its ability to offer immunity will likely be known over the next couple of weeks, the company's chief medical officer Paul Burton reportedly said on BBC's \"Andrew Marr Show.\" Moderna shares rose 10.2% to $363.3 in premarket tradingMonday.</li>  <li>Analysts are expecting&nbsp;<b>StoneX Group Inc.</b>&nbsp;to have earned $1.44 per share on revenue of $280.55 million for the latest quarter. The company will release earnings after the closing bell. StoneX shares dropped 3.4% to close at $66.70 on Friday.</li> </ul> <ul>  <li><b>Tesla, Inc</b>&nbsp;will likely commence production operations at its Giga Berlin in Germany in December, Bloomberg reported, citing German magazine Automobilwoche. Tesla shares rallied more&nbsp;than&nbsp;2% to $1,106.2 in premarket tradingMonday.</li>  <li>Frontline's Q3 results missed estimates.Analysts expect&nbsp;<b>Frontline Ltd.</b>&nbsp;to post a quarterly loss at $1.58 per share on revenue of $605.57 million before the opening bell. Frontline shares dropped 2.8% to&nbsp;$6.61 in premarket tradingMonday.</li> </ul></p><p><blockquote><ul><li>理想汽车第三季度业绩超出预期，总收入达到12.1亿美元；交付量达到25,116辆；毛利率达到23.3%。华尔街预期<b>理想汽车公司。</b>开盘前报告季度亏损为每股 0.02 美元，营收为 11.6 亿美元。周一盘前交易中，理想汽车股价上涨 5.8%，至 34.29 美元。</li><li><b>现代公司。</b>该公司是第二家获得 COVID-19 疫苗授权的生物制药公司，该公司有信心很快就会拿出一些东西来应对最新的病毒威胁。据报道，该公司首席医疗官保罗-伯顿（Paul Burton）在英国广播公司（BBC）的 “安德鲁-马尔秀”（Andrew Marr Show）节目中说，该公司目前的疫苗将针对新变种进行测试，其提供免疫力的能力可能会在未来几周内揭晓。Moderna 股价在周一盘前交易中上涨 10.2%，至 363.3 美元。</li><li>分析师预计<b>斯通克斯集团公司。</b>最新季度每股收益 1.44 美元，营收为 2.8055 亿美元。该公司将在收盘后发布财报。StoneX 股价周五下跌 3.4%，收于 66.70 美元。</li></ul><ul><li><b>特斯拉公司</b>据彭博社援引德国杂志《Automobilwoche》报道，该公司可能会于 12 月在德国柏林超级工厂开始生产运营。周一盘前交易中，特斯拉股价上涨超过 2%，至 1,106.2 美元。</li><li>Frontline 第三季度业绩低于预期。分析师预期<b>前线有限公司</b>开盘前，季度亏损为每股 1.58 美元，营收为 6.0557 亿美元。周一盘前交易中，Frontline 股价下跌 2.8%，至 6.61 美元。</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","MRNA":"Moderna, Inc.","FRO":"FRONTLINE PLC","LI":"理想汽车","SNEX":"StoneX Group Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193304775","content_text":"Some of the stocks that may grab investor focus today are:\n\nLi Auto's Q3 results beat estimates.its total revenues reached $1.21 billion;deliveries reached 25,116 vehicles;gross margin reached 23.3%.Wall Street expects Li Auto Inc. to report a quarterly loss at $0.02 per share on revenue of $1.16 billion before the opening bell. Li Auto shares rose 5.8% to $34.29 in premarket trading Monday.\nModerna, Inc., which was the second biopharma company to get authorization for a COVID-19 vaccine, is confident it will have something on the table shortly to tackle the latest virus threat. The company’s current vaccine will be tested against the new variant, and its ability to offer immunity will likely be known over the next couple of weeks, the company's chief medical officer Paul Burton reportedly said on BBC's \"Andrew Marr Show.\" Moderna shares rose 10.2% to $363.3 in premarket tradingMonday.\nAnalysts are expecting StoneX Group Inc. to have earned $1.44 per share on revenue of $280.55 million for the latest quarter. The company will release earnings after the closing bell. StoneX shares dropped 3.4% to close at $66.70 on Friday.\n\n\nTesla, Inc will likely commence production operations at its Giga Berlin in Germany in December, Bloomberg reported, citing German magazine Automobilwoche. Tesla shares rallied more than 2% to $1,106.2 in premarket tradingMonday.\nFrontline's Q3 results missed estimates.Analysts expect Frontline Ltd. to post a quarterly loss at $1.58 per share on revenue of $605.57 million before the opening bell. Frontline shares dropped 2.8% to $6.61 in premarket tradingMonday.","news_type":1,"symbols_score_info":{"FRO":0.9,"MRNA":0.9,"LI":0.9,"TSLA":0.9,"SNEX":0.9}},"isVote":1,"tweetType":1,"viewCount":3511,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877499750,"gmtCreate":1637968580730,"gmtModify":1637968798443,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"😪","listText":"😪","text":"😪","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/877499750","repostId":"2186344334","repostType":4,"isVote":1,"tweetType":1,"viewCount":4294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":874849256,"gmtCreate":1637762142402,"gmtModify":1637762142459,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"what other stocks to recom?","listText":"what other stocks to recom?","text":"what other stocks to recom?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/874849256","repostId":"1113962068","repostType":4,"repost":{"id":"1113962068","kind":"news","pubTimestamp":1637747950,"share":"https://www.laohunote.com/m/news/1113962068?lang=zh_CN&edition=full","pubTime":"2021-11-24 17:59","market":"us","language":"en","title":"Have $2,000? 2 Market Crash-Ready Stocks to Buy<blockquote>有2000美元吗？2 只值得购买的市场崩盘股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1113962068","media":"Motley Fool","summary":"You have $2,000 to invest, but you're concerned that the market's about to correct -- and possibly e","content":"<p>You have $2,000 to invest, but you're concerned that the market's about to correct -- and possibly even&nbsp;crash-- in the near future. It's a problem. Let's turn that into an opportunity.</p><p><blockquote>您有 2,000 美元可以投资，但您担心市场将在不久的将来调整，甚至可能崩溃。这是个问题。让我们把它变成一个机会。</blockquote></p><p> There are stocks out there that are fashion-forward enough to be wearing exactly what folks will be looking to try on the next time the market tumbles. Cheap and resilient,&nbsp;<b>Camping World Holdings</b>(NYSE:CWH)&nbsp;and&nbsp;<b>Peloton Interactive</b>(NASDAQ:PTON)are good looks for investors with $2,000 to put to work in the market in crash-ready stocks.</p><p><blockquote>有些股票足够时尚，可以穿上人们在下一次市场暴跌时想要尝试的衣服。便宜且有弹性，<b>露营世界控股</b>（纽约证券交易所代码：CWH）和<b>Peloton互动</b>（纳斯达克股票代码：PTON）对于拥有 2,000 美元的投资者来说，在市场上投资应对崩盘的股票是个不错的选择。</blockquote></p><p> Camping World</p><p><blockquote>露营世界</blockquote></p><p> You might think that big-ticket recreational vehicles (RVs) are a scary place to be when the next market crash comes along, but there's a lot to like when it comes to Camping World. The country's leading retailer of RVs and related essentials is rolling along as a cheap stock with a juicy yield and a lot of blue highways to conquer.</p><p><blockquote>当下一次市场崩盘到来时，你可能会认为大额休闲车(RV)是一个可怕的地方，但当谈到露营世界时，有很多值得喜欢的地方。该国领先的房车和相关必需品零售商正在作为一只廉价股票前进，收益率很高，还有许多蓝色高速公路需要征服。</blockquote></p><p> The RV industry in general and Camping World in particular took off last year when the pandemic took its toll on the way we work and travel. The COVID-19 crisis led to most of us working and learning from home, and many homebodies decided to retire early. With traditional getaways also initially on hold an RV became the easy way to travel the country safely.</p><p><blockquote>去年，当疫情对我们的工作和旅行方式造成影响时，整个房车行业，尤其是露营世界起飞了。新冠肺炎危机导致我们大多数人在家工作和学习，许多家庭主妇决定提前退休。由于传统的度假方式最初也被搁置，房车成为安全环游全国的简单方式。</blockquote></p><p> Unlike some pandemic plays that are seeing their fortunes reversed, Camping World is still growing even now as we claw our way out of the pandemic. Earlier this month it posted strong financial results. Revenue rose 14% to top $1.9 billion for the third quarter, as selling prices on new and particularly used RVs move higher. Margins expanded to the point where net income climbed 22% higher.</p><p><blockquote>不像一些疫情戏剧看到他们的命运逆转，即使是现在，当我们努力摆脱疫情时，露营世界仍在增长。本月早些时候，该公司公布了强劲的财务业绩。随着新房车（尤其是二手房车）的销售价格上涨，第三季度收入增长 14%，达到 19 亿美元。利润率扩大到净利润攀升 22%。</blockquote></p><p> Camping World also boosted its guidance, something it has been doing on a quarterly basis. It has beaten Wall Street profit targets with ease over the past few quarters, and analysts can't keep up despite jacking up their forecasts. Camping World is now trading for less than seven times what Wall Street pros expect it to earn. They see modest single-digit growth for 2022, but we've seen analysts get burned before by being too conservative.</p><p><blockquote>露营世界也加强了指导，这是它每季度都在做的事情。过去几个季度，该公司轻松超额完成了华尔街的利润目标，尽管分析师提高了预测，但仍无法跟上。Camping World 目前的交易价格不到华尔街专业人士预期的七倍。他们预计 2022 年将实现温和的个位数增长，但我们之前已经看到分析师因过于保守而被烧伤。</blockquote></p><p> Camping World is sharing the wealth. It&nbsp;doubled its quarterly dividend&nbsp;over the summer, and is now yielding 4.5%. It has also sprinkled in a couple of special distributions to send even more money to its shareholders along the way. The market will inevitably buckle at some point, and when that happens Camping World should be better suited to weather the storm with its chunky yield and low valuation.</p><p><blockquote>露营世界正在分享财富。今年夏天，该公司将季度股息翻了一番，目前收益率为 4.5%。该公司还进行了一些特别分配，以向股东提供更多资金。市场将不可避免地在某个时候崩溃，当这种情况发生时，露营世界应该更适合以其丰厚的收益率和低估值来度过风暴。</blockquote></p><p> Peloton</p><p><blockquote>排队</blockquote></p><p> Camping World has thrived by getting us to explore the great outdoors, but now let's tackle a stock that has gotten slammed by keeping us indoors. Peloton was a market darling during the early stages of the pandemic. Sourdough starters got us feeling doughy, and with local spinning classes and fitness centers shuttered we turned to Peloton for interactive high-end workouts on stationary bikes and treadmills.</p><p><blockquote>露营世界因让我们探索伟大的户外而蓬勃发展，但现在让我们来解决一个因让我们呆在室内而受到打击的股票。在疫情的早期阶段，Peloton是市场的宠儿。酸面团发酵剂让我们感觉像面团一样，随着当地的动感单车班和健身中心关闭，我们转向Peloton，在固定自行车和跑步机上进行互动高端锻炼。</blockquote></p><p> The stock has been losing some serious weight this year. It has shed a brutal 74% since peaking in January as of Monday's close. A markdown from those lofty levels was warranted. Peloton had a&nbsp;reputation-smacking recall&nbsp;of treadmills after some awful mishaps.</p><p><blockquote>该股今年大幅下跌。截至周一收盘，自 1 月份达到峰值以来，该股已大幅下跌 74%。从这些高层降价是有道理的。在发生了一些可怕的事故后，Peloton 召回了跑步机，声名狼藉。</blockquote></p><p> November has been rough. Wall Street's been slashing its price targets on the stock after another rough quarter with rising churn and sinking guidance. The near-term challenges are real, but most people don't make four-figure investments in home fitness only to cancel their premium subscriptions. Peloton's sticking around, and a recent $1 billion stock offering will make sure that it won't have any financial limitations when it's ready to turn the corner. Peloton stock already crashed, now it's just waiting for contrarians to show up for a workout.</p><p><blockquote>十一月过得很艰难。在经历了又一个艰难的季度后，华尔街一直在下调该股的目标价，因为流失率上升，指引下降。近期的挑战是真实的，但大多数人不会在家庭健身上进行四位数的投资，只是为了取消他们的高级订阅。Peloton 坚持下去，最近 10 亿美元的股票发行将确保其在准备扭转局面时不会受到任何财务限制。Peloton 股票已经暴跌，现在只是在等待逆向投资者出现进行锻炼。</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>Have $2,000? 2 Market Crash-Ready Stocks to Buy<blockquote>有2000美元吗？2 只值得购买的市场崩盘股票</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\">\nHave $2,000? 2 Market Crash-Ready Stocks to Buy<blockquote>有2000美元吗？2 只值得购买的市场崩盘股票</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\">2021-11-24 17:59</span>\n</p>\n</h4>\n</header>\n<article>\n<p>You have $2,000 to invest, but you're concerned that the market's about to correct -- and possibly even&nbsp;crash-- in the near future. It's a problem. Let's turn that into an opportunity.</p><p><blockquote>您有 2,000 美元可以投资，但您担心市场将在不久的将来调整，甚至可能崩溃。这是个问题。让我们把它变成一个机会。</blockquote></p><p> There are stocks out there that are fashion-forward enough to be wearing exactly what folks will be looking to try on the next time the market tumbles. Cheap and resilient,&nbsp;<b>Camping World Holdings</b>(NYSE:CWH)&nbsp;and&nbsp;<b>Peloton Interactive</b>(NASDAQ:PTON)are good looks for investors with $2,000 to put to work in the market in crash-ready stocks.</p><p><blockquote>有些股票足够时尚，可以穿上人们在下一次市场暴跌时想要尝试的衣服。便宜且有弹性，<b>露营世界控股</b>（纽约证券交易所代码：CWH）和<b>Peloton互动</b>（纳斯达克股票代码：PTON）对于拥有 2,000 美元的投资者来说，在市场上投资应对崩盘的股票是个不错的选择。</blockquote></p><p> Camping World</p><p><blockquote>露营世界</blockquote></p><p> You might think that big-ticket recreational vehicles (RVs) are a scary place to be when the next market crash comes along, but there's a lot to like when it comes to Camping World. The country's leading retailer of RVs and related essentials is rolling along as a cheap stock with a juicy yield and a lot of blue highways to conquer.</p><p><blockquote>当下一次市场崩盘到来时，你可能会认为大额休闲车(RV)是一个可怕的地方，但当谈到露营世界时，有很多值得喜欢的地方。该国领先的房车和相关必需品零售商正在作为一只廉价股票前进，收益率很高，还有许多蓝色高速公路需要征服。</blockquote></p><p> The RV industry in general and Camping World in particular took off last year when the pandemic took its toll on the way we work and travel. The COVID-19 crisis led to most of us working and learning from home, and many homebodies decided to retire early. With traditional getaways also initially on hold an RV became the easy way to travel the country safely.</p><p><blockquote>去年，当疫情对我们的工作和旅行方式造成影响时，整个房车行业，尤其是露营世界起飞了。新冠肺炎危机导致我们大多数人在家工作和学习，许多家庭主妇决定提前退休。由于传统的度假方式最初也被搁置，房车成为安全环游全国的简单方式。</blockquote></p><p> Unlike some pandemic plays that are seeing their fortunes reversed, Camping World is still growing even now as we claw our way out of the pandemic. Earlier this month it posted strong financial results. Revenue rose 14% to top $1.9 billion for the third quarter, as selling prices on new and particularly used RVs move higher. Margins expanded to the point where net income climbed 22% higher.</p><p><blockquote>不像一些疫情戏剧看到他们的命运逆转，即使是现在，当我们努力摆脱疫情时，露营世界仍在增长。本月早些时候，该公司公布了强劲的财务业绩。随着新房车（尤其是二手房车）的销售价格上涨，第三季度收入增长 14%，达到 19 亿美元。利润率扩大到净利润攀升 22%。</blockquote></p><p> Camping World also boosted its guidance, something it has been doing on a quarterly basis. It has beaten Wall Street profit targets with ease over the past few quarters, and analysts can't keep up despite jacking up their forecasts. Camping World is now trading for less than seven times what Wall Street pros expect it to earn. They see modest single-digit growth for 2022, but we've seen analysts get burned before by being too conservative.</p><p><blockquote>露营世界也加强了指导，这是它每季度都在做的事情。过去几个季度，该公司轻松超额完成了华尔街的利润目标，尽管分析师提高了预测，但仍无法跟上。Camping World 目前的交易价格不到华尔街专业人士预期的七倍。他们预计 2022 年将实现温和的个位数增长，但我们之前已经看到分析师因过于保守而被烧伤。</blockquote></p><p> Camping World is sharing the wealth. It&nbsp;doubled its quarterly dividend&nbsp;over the summer, and is now yielding 4.5%. It has also sprinkled in a couple of special distributions to send even more money to its shareholders along the way. The market will inevitably buckle at some point, and when that happens Camping World should be better suited to weather the storm with its chunky yield and low valuation.</p><p><blockquote>露营世界正在分享财富。今年夏天，该公司将季度股息翻了一番，目前收益率为 4.5%。该公司还进行了一些特别分配，以向股东提供更多资金。市场将不可避免地在某个时候崩溃，当这种情况发生时，露营世界应该更适合以其丰厚的收益率和低估值来度过风暴。</blockquote></p><p> Peloton</p><p><blockquote>排队</blockquote></p><p> Camping World has thrived by getting us to explore the great outdoors, but now let's tackle a stock that has gotten slammed by keeping us indoors. Peloton was a market darling during the early stages of the pandemic. Sourdough starters got us feeling doughy, and with local spinning classes and fitness centers shuttered we turned to Peloton for interactive high-end workouts on stationary bikes and treadmills.</p><p><blockquote>露营世界因让我们探索伟大的户外而蓬勃发展，但现在让我们来解决一个因让我们呆在室内而受到打击的股票。在疫情的早期阶段，Peloton是市场的宠儿。酸面团发酵剂让我们感觉像面团一样，随着当地的动感单车班和健身中心关闭，我们转向Peloton，在固定自行车和跑步机上进行互动高端锻炼。</blockquote></p><p> The stock has been losing some serious weight this year. It has shed a brutal 74% since peaking in January as of Monday's close. A markdown from those lofty levels was warranted. Peloton had a&nbsp;reputation-smacking recall&nbsp;of treadmills after some awful mishaps.</p><p><blockquote>该股今年大幅下跌。截至周一收盘，自 1 月份达到峰值以来，该股已大幅下跌 74%。从这些高层降价是有道理的。在发生了一些可怕的事故后，Peloton 召回了跑步机，声名狼藉。</blockquote></p><p> November has been rough. Wall Street's been slashing its price targets on the stock after another rough quarter with rising churn and sinking guidance. The near-term challenges are real, but most people don't make four-figure investments in home fitness only to cancel their premium subscriptions. Peloton's sticking around, and a recent $1 billion stock offering will make sure that it won't have any financial limitations when it's ready to turn the corner. Peloton stock already crashed, now it's just waiting for contrarians to show up for a workout.</p><p><blockquote>十一月过得很艰难。在经历了又一个艰难的季度后，华尔街一直在下调该股的目标价，因为流失率上升，指引下降。近期的挑战是真实的，但大多数人不会在家庭健身上进行四位数的投资，只是为了取消他们的高级订阅。Peloton 坚持下去，最近 10 亿美元的股票发行将确保其在准备扭转局面时不会受到任何财务限制。Peloton 股票已经暴跌，现在只是在等待逆向投资者出现进行锻炼。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/11/23/have-2000-2-market-crash-ready-stocks-to-buy/\">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":{"CWH":"露营世界","PTON":"Peloton Interactive, Inc."},"source_url":"https://www.fool.com/investing/2021/11/23/have-2000-2-market-crash-ready-stocks-to-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113962068","content_text":"You have $2,000 to invest, but you're concerned that the market's about to correct -- and possibly even crash-- in the near future. It's a problem. Let's turn that into an opportunity.\nThere are stocks out there that are fashion-forward enough to be wearing exactly what folks will be looking to try on the next time the market tumbles. Cheap and resilient, Camping World Holdings(NYSE:CWH) and Peloton Interactive(NASDAQ:PTON)are good looks for investors with $2,000 to put to work in the market in crash-ready stocks.\nCamping World\nYou might think that big-ticket recreational vehicles (RVs) are a scary place to be when the next market crash comes along, but there's a lot to like when it comes to Camping World. The country's leading retailer of RVs and related essentials is rolling along as a cheap stock with a juicy yield and a lot of blue highways to conquer.\nThe RV industry in general and Camping World in particular took off last year when the pandemic took its toll on the way we work and travel. The COVID-19 crisis led to most of us working and learning from home, and many homebodies decided to retire early. With traditional getaways also initially on hold an RV became the easy way to travel the country safely.\nUnlike some pandemic plays that are seeing their fortunes reversed, Camping World is still growing even now as we claw our way out of the pandemic. Earlier this month it posted strong financial results. Revenue rose 14% to top $1.9 billion for the third quarter, as selling prices on new and particularly used RVs move higher. Margins expanded to the point where net income climbed 22% higher.\nCamping World also boosted its guidance, something it has been doing on a quarterly basis. It has beaten Wall Street profit targets with ease over the past few quarters, and analysts can't keep up despite jacking up their forecasts. Camping World is now trading for less than seven times what Wall Street pros expect it to earn. They see modest single-digit growth for 2022, but we've seen analysts get burned before by being too conservative.\nCamping World is sharing the wealth. It doubled its quarterly dividend over the summer, and is now yielding 4.5%. It has also sprinkled in a couple of special distributions to send even more money to its shareholders along the way. The market will inevitably buckle at some point, and when that happens Camping World should be better suited to weather the storm with its chunky yield and low valuation.\nPeloton\nCamping World has thrived by getting us to explore the great outdoors, but now let's tackle a stock that has gotten slammed by keeping us indoors. Peloton was a market darling during the early stages of the pandemic. Sourdough starters got us feeling doughy, and with local spinning classes and fitness centers shuttered we turned to Peloton for interactive high-end workouts on stationary bikes and treadmills.\nThe stock has been losing some serious weight this year. It has shed a brutal 74% since peaking in January as of Monday's close. A markdown from those lofty levels was warranted. Peloton had a reputation-smacking recall of treadmills after some awful mishaps.\nNovember has been rough. Wall Street's been slashing its price targets on the stock after another rough quarter with rising churn and sinking guidance. The near-term challenges are real, but most people don't make four-figure investments in home fitness only to cancel their premium subscriptions. Peloton's sticking around, and a recent $1 billion stock offering will make sure that it won't have any financial limitations when it's ready to turn the corner. Peloton stock already crashed, now it's just waiting for contrarians to show up for a workout.","news_type":1,"symbols_score_info":{"PTON":0.9,"CWH":0.9}},"isVote":1,"tweetType":1,"viewCount":3469,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":874840994,"gmtCreate":1637762013711,"gmtModify":1637762013711,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"how many more to sell?","listText":"how many more to sell?","text":"how many more to sell?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/874840994","repostId":"1178572049","repostType":4,"isVote":1,"tweetType":1,"viewCount":3592,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872525754,"gmtCreate":1637550106632,"gmtModify":1637550106632,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/872525754","repostId":"1174499408","repostType":4,"isVote":1,"tweetType":1,"viewCount":3451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":876907934,"gmtCreate":1637247679195,"gmtModify":1637247679195,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>long term hold","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>long term hold","text":"$Palantir Technologies Inc.(PLTR)$long term hold","images":[{"img":"https://static.tigerbbs.com/61d49d7faa78452a517692a6cde24ea5","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/876907934","isVote":1,"tweetType":1,"viewCount":1677,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":876904292,"gmtCreate":1637247661783,"gmtModify":1637247661783,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/DIS\">$Walt Disney(DIS)$</a>believeeee","listText":"<a href=\"https://laohu8.com/S/DIS\">$Walt Disney(DIS)$</a>believeeee","text":"$Walt Disney(DIS)$believeeee","images":[{"img":"https://static.tigerbbs.com/4e38d8f0d5a996d83262f75b1be15191","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/876904292","isVote":1,"tweetType":1,"viewCount":2076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":871657182,"gmtCreate":1637068556115,"gmtModify":1637068556202,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/871657182","repostId":"1148410839","repostType":4,"repost":{"id":"1148410839","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1637052186,"share":"https://www.laohunote.com/m/news/1148410839?lang=zh_CN&edition=full","pubTime":"2021-11-16 16:43","market":"us","language":"en","title":"Netease increased its net revenues to RMB22.2 billion,and will repurchase up to 3 billion US dollars of shares<blockquote>网易将净收入增至人民币222亿元，并将回购至多30亿美元的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148410839","media":"Tiger Newspress","summary":"Netease announced its unaudited financial results for the third quarter ended September 30, 2021.The","content":"<p>Netease&nbsp;announced its unaudited financial results for the third quarter ended&nbsp;September 30, 2021.<b>The board of directors has approved an increase in the amount of the share repurchase program to no more than $3 billion.</b></p><p><blockquote>网易公布了截至2021年9月30日的第三季度未经审计财务业绩。<b>董事会已批准将股票回购计划的金额增加至不超过30亿美元。</b></blockquote></p><p> <b>Third Quarter 2021 Financial Highlights</b></p><p><blockquote><b>2021年第三季度财务摘要</b></blockquote></p><p> <ul>  <li>Net revenues were&nbsp;RMB22.2 billion(US$3.4 billion), an increase of 18.9% compared with the third quarter of 2020.</li> </ul> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Online game services net revenues wereRMB15.9 billion(US$2.5 billion), an increase of 14.7% compared with the third quarter of 2020.</p><p><blockquote><ul><li>净收入为人民币222亿元（34亿美元），较2020年第三季度增长18.9%。</li></ul>-网络游戏服务净收入为人民币159亿元（25亿美元），较2020年第三季度增长14.7%。</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-Youdaonet revenues were&nbsp;RMB1.4 billion(US$215.3 million), an increase of 54.8% compared with the third quarter of 2020.</p><p><blockquote>-有道网收入为人民币14亿元（2.153亿美元），较2020年第三季度增长54.8%。</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Innovative businesses and others net revenues wereRMB4.9 billion(US$761.1 million), an increase of 25.7% compared with the third quarter of 2020.</p><p><blockquote>-创新业务及其他净收入为49亿元人民币（7.611亿美元），较2020年第三季度增长25.7%。</blockquote></p><p> <ul>  <li>Gross profit was&nbsp;RMB11.8 billion(US$1.8 billion), an increase of 19.5% compared with the third quarter of 2020.</li>  <li>Total operating expenses were&nbsp;RMB8.0 billion(US$1.2 billion), an increase of 14.5% compared with the third quarter of 2020.</li>  <li>Net income attributable to the Company's shareholders was&nbsp;RMB3.2 billion(US$493.8 million). Non-GAAP net income attributable to the Company's shareholders wasRMB3.9 billion(US$598.7 million).</li>  <li>Basic net income per share wasUS$0.15(US$0.74per ADS). Non-GAAP basic net income per share wasUS$0.18(US$0.90per ADS).</li> </ul> <b>Third Quarter 2021 and Recent Operational Highlights</b></p><p><blockquote><ul><li>毛利润为人民币118亿元（18亿美元），较2020年第三季度增长19.5%。</li><li>总运营费用为人民币80亿元（12亿美元），较2020年第三季度增长14.5%。</li><li>公司股东应占净利润为人民币32亿元（4.938亿美元）。非公认会计准则归属于公司股东的净利润为人民币39亿元（5.987亿美元）。</li><li>每股基本净利润为 0.15 美元（每股美国存托凭证 0.74 美元）。非 GAAP 基本每股净利润为 0.18 美元（每股美国存托凭证 0.90 美元）。</li></ul><b>2021 年第三季度及近期运营亮点</b></blockquote></p><p> <ul>  <li>Broadened games portfolio and strengthened global appeal with new games in diverse genres including:</li> </ul> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-<i>Naraka: Bladepoint</i>, which broke the sales record of buy-to-play games by Chinese developers and led the Steam top-sellers chart, remaining in the top 5 for weeks following its global launch in August.</p><p><blockquote><ul><li>扩大游戏产品组合，增强全球吸引力，推出多种类型的新游戏，包括：</li></ul>          -<i>奈良：刀尖</i>该游戏打破了中国开发商购买游戏的销售记录，并在 Steam 畅销书排行榜上名列前茅，在 8 月份全球发布后连续几周保持在前五名。</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-<i>Harry Potter:</i>&nbsp;<i>Magic Awakened</i>, which ledChina'siOS top grossing chart and top download chart following its launch in September.</p><p><blockquote>          -<i>哈利波特：</i> <i>魔法觉醒</i>自9月份上线以来，它一直是ledChina’siOS的最高票房排行榜和最高下载量排行榜。</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Exciting new titles inChinasuch as<i>Ace Racer</i>,<i>Infinite Lagrange</i>and<i>Nightmare Breaker</i>.</p><p><blockquote>- 中国令人兴奋的新游戏，例如<i>王牌赛车手</i>,<i>无限拉格朗日</i>和<i>噩梦破坏者</i>.</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Launched<i>The Lord of the Rings: Rise to War</i>inEurope, theAmericas,OceaniaandSoutheast Asia.</p><p><blockquote>- 发射<i>指环王：崛起战争</i>在欧洲、美洲、大洋洲和东南亚。</blockquote></p><p> <ul>  <li>Extended solid popularity of franchise titles including the<i>Fantasy Westward Journey</i>and<i>Westward Journey Online</i>series.</li>  <li>Enriched dynamic game development pipeline with exciting advancements to upcoming games including&nbsp;<i>The Showbiz: Dream Chaser</i>, the console version of&nbsp;<i>Naraka: Bladepoint</i>,<i>Diablo®</i>&nbsp;<i>Immortal™</i>, as well as&nbsp;<i>Ghost World Chronicle</i>, and&nbsp;<i>Harry Potter: Magic Awakened</i>&nbsp;in international markets.</li>  <li>Progressed&nbsp;Youdao's&nbsp;capabilities as an education technology provider, with steady advancements in STEAM courses, adult learning and smart learning hardware devices.</li>  <li>Expanded&nbsp;<i>NetEase Cloud Music</i>'s content ecosystem and product innovation capabilities to strengthen its highly-engaged music-enteric community, delivering a solid financial performance.</li> </ul> \"With strong and steady contributions from our online game services, our total net revenues for the third quarter reached&nbsp;RMB22.2 billion, an increase of 18.9% year-over-year,\" said Mr.William Ding, Chief Executive Officer and Director of&nbsp;NetEase. \"It was a very fruitful season of diversification for our online games. Our flagship titles remained strong, and we introduced several new successful hits for PC and mobile platforms. New games such as&nbsp;Naraka: Blade&nbsp;point&nbsp;and&nbsp;Harry Potter: Magic Awakened&nbsp;captured wide interest from passionate game players who appreciate high quality game design. We will continue to bring more masterpieces to both domestic and global players in upcoming quarters. In addition,Youdao,NetEase Cloud Music&nbsp;and&nbsp;Yanxuan&nbsp;maintain their diverse and differentiated offerings. As an innovation-driven content creator, we will continue to deliver thoughtful premium content and products to our users across each of our carefully cultivated disciplines,\"Mr. Ding&nbsp;concluded.</p><p><blockquote><ul><li>特许经营权的广泛受欢迎程度，包括<i>梦幻西游</i>和<i>大话西游在线</i>系列。</li><li>丰富动态游戏开发渠道，为即将推出的游戏带来令人兴奋的进步，包括<i>演艺圈：追梦人</i>的控制台版本<i>奈良：刀尖</i>,<i>迪亚布罗®</i> <i>不朽的™</i>，以及<i>幽灵世界编年史</i>，和<i>哈利波特：魔法觉醒</i>在国际市场上。</li><li>提升有道作为教育技术提供商的能力，在STEAM课程、成人学习和智能学习硬件设备方面稳步推进。</li><li>扩展<i>网易云音乐</i>的内容生态系统和产品创新能力，以加强其高度参与的音乐企业社区，带来稳健的财务业绩。</li></ul>网易首席执行官兼董事丁伟霆先生表示：“得益于网络游戏服务的强劲稳定贡献，我们第三季度的总净收入达到人民币222亿元，同比增长18.9%。”“对于我们的网络游戏来说，这是一个非常富有成效的多元化季节。我们的旗舰游戏保持强劲势头，并在PC和移动平台上推出了几款新的成功游戏。《纳拉卡：刀锋点》和《哈利波特：魔法觉醒》等新游戏吸引了众多欣赏高质量游戏设计的热情游戏玩家的广泛兴趣。我们将在未来几个季度继续为国内外玩家带来更多大作。”此外，有道、网易云音乐和严选保持其多元化和差异化的产品。作为一家创新驱动的内容创作者，我们将继续在我们精心培育的每个学科领域为用户提供贴心的优质内容和产品。”</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>Netease increased its net revenues to RMB22.2 billion,and will repurchase up to 3 billion US dollars of shares<blockquote>网易将净收入增至人民币222亿元，并将回购至多30亿美元的股票</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\">\nNetease increased its net revenues to RMB22.2 billion,and will repurchase up to 3 billion US dollars of shares<blockquote>网易将净收入增至人民币222亿元，并将回购至多30亿美元的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-16 16:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Netease&nbsp;announced its unaudited financial results for the third quarter ended&nbsp;September 30, 2021.<b>The board of directors has approved an increase in the amount of the share repurchase program to no more than $3 billion.</b></p><p><blockquote>网易公布了截至2021年9月30日的第三季度未经审计财务业绩。<b>董事会已批准将股票回购计划的金额增加至不超过30亿美元。</b></blockquote></p><p> <b>Third Quarter 2021 Financial Highlights</b></p><p><blockquote><b>2021年第三季度财务摘要</b></blockquote></p><p> <ul>  <li>Net revenues were&nbsp;RMB22.2 billion(US$3.4 billion), an increase of 18.9% compared with the third quarter of 2020.</li> </ul> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Online game services net revenues wereRMB15.9 billion(US$2.5 billion), an increase of 14.7% compared with the third quarter of 2020.</p><p><blockquote><ul><li>净收入为人民币222亿元（34亿美元），较2020年第三季度增长18.9%。</li></ul>-网络游戏服务净收入为人民币159亿元（25亿美元），较2020年第三季度增长14.7%。</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-Youdaonet revenues were&nbsp;RMB1.4 billion(US$215.3 million), an increase of 54.8% compared with the third quarter of 2020.</p><p><blockquote>-有道网收入为人民币14亿元（2.153亿美元），较2020年第三季度增长54.8%。</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Innovative businesses and others net revenues wereRMB4.9 billion(US$761.1 million), an increase of 25.7% compared with the third quarter of 2020.</p><p><blockquote>-创新业务及其他净收入为49亿元人民币（7.611亿美元），较2020年第三季度增长25.7%。</blockquote></p><p> <ul>  <li>Gross profit was&nbsp;RMB11.8 billion(US$1.8 billion), an increase of 19.5% compared with the third quarter of 2020.</li>  <li>Total operating expenses were&nbsp;RMB8.0 billion(US$1.2 billion), an increase of 14.5% compared with the third quarter of 2020.</li>  <li>Net income attributable to the Company's shareholders was&nbsp;RMB3.2 billion(US$493.8 million). Non-GAAP net income attributable to the Company's shareholders wasRMB3.9 billion(US$598.7 million).</li>  <li>Basic net income per share wasUS$0.15(US$0.74per ADS). Non-GAAP basic net income per share wasUS$0.18(US$0.90per ADS).</li> </ul> <b>Third Quarter 2021 and Recent Operational Highlights</b></p><p><blockquote><ul><li>毛利润为人民币118亿元（18亿美元），较2020年第三季度增长19.5%。</li><li>总运营费用为人民币80亿元（12亿美元），较2020年第三季度增长14.5%。</li><li>公司股东应占净利润为人民币32亿元（4.938亿美元）。非公认会计准则归属于公司股东的净利润为人民币39亿元（5.987亿美元）。</li><li>每股基本净利润为 0.15 美元（每股美国存托凭证 0.74 美元）。非 GAAP 基本每股净利润为 0.18 美元（每股美国存托凭证 0.90 美元）。</li></ul><b>2021 年第三季度及近期运营亮点</b></blockquote></p><p> <ul>  <li>Broadened games portfolio and strengthened global appeal with new games in diverse genres including:</li> </ul> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-<i>Naraka: Bladepoint</i>, which broke the sales record of buy-to-play games by Chinese developers and led the Steam top-sellers chart, remaining in the top 5 for weeks following its global launch in August.</p><p><blockquote><ul><li>扩大游戏产品组合，增强全球吸引力，推出多种类型的新游戏，包括：</li></ul>          -<i>奈良：刀尖</i>该游戏打破了中国开发商购买游戏的销售记录，并在 Steam 畅销书排行榜上名列前茅，在 8 月份全球发布后连续几周保持在前五名。</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-<i>Harry Potter:</i>&nbsp;<i>Magic Awakened</i>, which ledChina'siOS top grossing chart and top download chart following its launch in September.</p><p><blockquote>          -<i>哈利波特：</i> <i>魔法觉醒</i>自9月份上线以来，它一直是ledChina’siOS的最高票房排行榜和最高下载量排行榜。</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Exciting new titles inChinasuch as<i>Ace Racer</i>,<i>Infinite Lagrange</i>and<i>Nightmare Breaker</i>.</p><p><blockquote>- 中国令人兴奋的新游戏，例如<i>王牌赛车手</i>,<i>无限拉格朗日</i>和<i>噩梦破坏者</i>.</blockquote></p><p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Launched<i>The Lord of the Rings: Rise to War</i>inEurope, theAmericas,OceaniaandSoutheast Asia.</p><p><blockquote>- 发射<i>指环王：崛起战争</i>在欧洲、美洲、大洋洲和东南亚。</blockquote></p><p> <ul>  <li>Extended solid popularity of franchise titles including the<i>Fantasy Westward Journey</i>and<i>Westward Journey Online</i>series.</li>  <li>Enriched dynamic game development pipeline with exciting advancements to upcoming games including&nbsp;<i>The Showbiz: Dream Chaser</i>, the console version of&nbsp;<i>Naraka: Bladepoint</i>,<i>Diablo®</i>&nbsp;<i>Immortal™</i>, as well as&nbsp;<i>Ghost World Chronicle</i>, and&nbsp;<i>Harry Potter: Magic Awakened</i>&nbsp;in international markets.</li>  <li>Progressed&nbsp;Youdao's&nbsp;capabilities as an education technology provider, with steady advancements in STEAM courses, adult learning and smart learning hardware devices.</li>  <li>Expanded&nbsp;<i>NetEase Cloud Music</i>'s content ecosystem and product innovation capabilities to strengthen its highly-engaged music-enteric community, delivering a solid financial performance.</li> </ul> \"With strong and steady contributions from our online game services, our total net revenues for the third quarter reached&nbsp;RMB22.2 billion, an increase of 18.9% year-over-year,\" said Mr.William Ding, Chief Executive Officer and Director of&nbsp;NetEase. \"It was a very fruitful season of diversification for our online games. Our flagship titles remained strong, and we introduced several new successful hits for PC and mobile platforms. New games such as&nbsp;Naraka: Blade&nbsp;point&nbsp;and&nbsp;Harry Potter: Magic Awakened&nbsp;captured wide interest from passionate game players who appreciate high quality game design. We will continue to bring more masterpieces to both domestic and global players in upcoming quarters. In addition,Youdao,NetEase Cloud Music&nbsp;and&nbsp;Yanxuan&nbsp;maintain their diverse and differentiated offerings. As an innovation-driven content creator, we will continue to deliver thoughtful premium content and products to our users across each of our carefully cultivated disciplines,\"Mr. Ding&nbsp;concluded.</p><p><blockquote><ul><li>特许经营权的广泛受欢迎程度，包括<i>梦幻西游</i>和<i>大话西游在线</i>系列。</li><li>丰富动态游戏开发渠道，为即将推出的游戏带来令人兴奋的进步，包括<i>演艺圈：追梦人</i>的控制台版本<i>奈良：刀尖</i>,<i>迪亚布罗®</i> <i>不朽的™</i>，以及<i>幽灵世界编年史</i>，和<i>哈利波特：魔法觉醒</i>在国际市场上。</li><li>提升有道作为教育技术提供商的能力，在STEAM课程、成人学习和智能学习硬件设备方面稳步推进。</li><li>扩展<i>网易云音乐</i>的内容生态系统和产品创新能力，以加强其高度参与的音乐企业社区，带来稳健的财务业绩。</li></ul>网易首席执行官兼董事丁伟霆先生表示：“得益于网络游戏服务的强劲稳定贡献，我们第三季度的总净收入达到人民币222亿元，同比增长18.9%。”“对于我们的网络游戏来说，这是一个非常富有成效的多元化季节。我们的旗舰游戏保持强劲势头，并在PC和移动平台上推出了几款新的成功游戏。《纳拉卡：刀锋点》和《哈利波特：魔法觉醒》等新游戏吸引了众多欣赏高质量游戏设计的热情游戏玩家的广泛兴趣。我们将在未来几个季度继续为国内外玩家带来更多大作。”此外，有道、网易云音乐和严选保持其多元化和差异化的产品。作为一家创新驱动的内容创作者，我们将继续在我们精心培育的每个学科领域为用户提供贴心的优质内容和产品。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NTES":"网易","09999":"网易"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148410839","content_text":"Netease announced its unaudited financial results for the third quarter ended September 30, 2021.The board of directors has approved an increase in the amount of the share repurchase program to no more than $3 billion.\nThird Quarter 2021 Financial Highlights\n\nNet revenues were RMB22.2 billion(US$3.4 billion), an increase of 18.9% compared with the third quarter of 2020.\n\n          - Online game services net revenues wereRMB15.9 billion(US$2.5 billion), an increase of 14.7% compared with the third quarter of 2020.\n           -Youdaonet revenues were RMB1.4 billion(US$215.3 million), an increase of 54.8% compared with the third quarter of 2020.\n            - Innovative businesses and others net revenues wereRMB4.9 billion(US$761.1 million), an increase of 25.7% compared with the third quarter of 2020.\n\nGross profit was RMB11.8 billion(US$1.8 billion), an increase of 19.5% compared with the third quarter of 2020.\nTotal operating expenses were RMB8.0 billion(US$1.2 billion), an increase of 14.5% compared with the third quarter of 2020.\nNet income attributable to the Company's shareholders was RMB3.2 billion(US$493.8 million). Non-GAAP net income attributable to the Company's shareholders wasRMB3.9 billion(US$598.7 million).\nBasic net income per share wasUS$0.15(US$0.74per ADS). Non-GAAP basic net income per share wasUS$0.18(US$0.90per ADS).\n\nThird Quarter 2021 and Recent Operational Highlights\n\nBroadened games portfolio and strengthened global appeal with new games in diverse genres including:\n\n          -Naraka: Bladepoint, which broke the sales record of buy-to-play games by Chinese developers and led the Steam top-sellers chart, remaining in the top 5 for weeks following its global launch in August.\n          -Harry Potter: Magic Awakened, which ledChina'siOS top grossing chart and top download chart following its launch in September.\n          - Exciting new titles inChinasuch asAce Racer,Infinite LagrangeandNightmare Breaker.\n          - LaunchedThe Lord of the Rings: Rise to WarinEurope, theAmericas,OceaniaandSoutheast Asia.\n\nExtended solid popularity of franchise titles including theFantasy Westward JourneyandWestward Journey Onlineseries.\nEnriched dynamic game development pipeline with exciting advancements to upcoming games including The Showbiz: Dream Chaser, the console version of Naraka: Bladepoint,Diablo® Immortal™, as well as Ghost World Chronicle, and Harry Potter: Magic Awakened in international markets.\nProgressed Youdao's capabilities as an education technology provider, with steady advancements in STEAM courses, adult learning and smart learning hardware devices.\nExpanded NetEase Cloud Music's content ecosystem and product innovation capabilities to strengthen its highly-engaged music-enteric community, delivering a solid financial performance.\n\n\"With strong and steady contributions from our online game services, our total net revenues for the third quarter reached RMB22.2 billion, an increase of 18.9% year-over-year,\" said Mr.William Ding, Chief Executive Officer and Director of NetEase. \"It was a very fruitful season of diversification for our online games. Our flagship titles remained strong, and we introduced several new successful hits for PC and mobile platforms. New games such as Naraka: Blade point and Harry Potter: Magic Awakened captured wide interest from passionate game players who appreciate high quality game design. We will continue to bring more masterpieces to both domestic and global players in upcoming quarters. In addition,Youdao,NetEase Cloud Music and Yanxuan maintain their diverse and differentiated offerings. As an innovation-driven content creator, we will continue to deliver thoughtful premium content and products to our users across each of our carefully cultivated disciplines,\"Mr. Ding concluded.","news_type":1,"symbols_score_info":{"09999":0.9,"NTES":0.9}},"isVote":1,"tweetType":1,"viewCount":1152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":870457751,"gmtCreate":1636643773715,"gmtModify":1636643775607,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578830026998393","authorIdStr":"3578830026998393"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>Hold!","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>Hold!","text":"$Palantir Technologies Inc.(PLTR)$Hold!","images":[{"img":"https://static.tigerbbs.com/c98d9a8f36ad979e9a8449b905766c92","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/870457751","isVote":1,"tweetType":1,"viewCount":1535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"hots":[{"id":876904292,"gmtCreate":1637247661783,"gmtModify":1637247661783,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/DIS\">$Walt Disney(DIS)$</a>believeeee","listText":"<a href=\"https://laohu8.com/S/DIS\">$Walt Disney(DIS)$</a>believeeee","text":"$Walt Disney(DIS)$believeeee","images":[{"img":"https://static.tigerbbs.com/4e38d8f0d5a996d83262f75b1be15191","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/876904292","isVote":1,"tweetType":1,"viewCount":2076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":600549159,"gmtCreate":1638178569600,"gmtModify":1638179120435,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/600549159","repostId":"1193304775","repostType":4,"repost":{"id":"1193304775","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1638178459,"share":"https://www.laohunote.com/m/news/1193304775?lang=zh_CN&edition=full","pubTime":"2021-11-29 17:34","market":"us","language":"en","title":"5 Stocks To Watch For November 29, 2021<blockquote>2021 年 11 月 29 日值得关注的 5 只股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1193304775","media":"Benzinga Earnings","summary":"Some of the stocks that may grab investor focus today are:\n\nLi Auto's Q3 results beat estimates.its ","content":"<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p> <ul>  <li>Li Auto's Q3 results beat estimates.its&nbsp;total revenues reached $1.21 billion;deliveries reached 25,116 vehicles;gross margin reached 23.3%.Wall Street expects&nbsp;<b>Li Auto Inc.</b>&nbsp;to report a quarterly loss at $0.02 per share on revenue of $1.16 billion before the opening bell. Li Auto shares rose 5.8% to $34.29 in premarket trading&nbsp;Monday.</li>  <li><b>Moderna, Inc.</b>, which was the second biopharma company to get authorization for a COVID-19 vaccine, is confident it will have something on the table shortly to tackle the latest virus threat. The company’s current vaccine will be tested against the new variant, and its ability to offer immunity will likely be known over the next couple of weeks, the company's chief medical officer Paul Burton reportedly said on BBC's \"Andrew Marr Show.\" Moderna shares rose 10.2% to $363.3 in premarket tradingMonday.</li>  <li>Analysts are expecting&nbsp;<b>StoneX Group Inc.</b>&nbsp;to have earned $1.44 per share on revenue of $280.55 million for the latest quarter. The company will release earnings after the closing bell. StoneX shares dropped 3.4% to close at $66.70 on Friday.</li> </ul> <ul>  <li><b>Tesla, Inc</b>&nbsp;will likely commence production operations at its Giga Berlin in Germany in December, Bloomberg reported, citing German magazine Automobilwoche. Tesla shares rallied more&nbsp;than&nbsp;2% to $1,106.2 in premarket tradingMonday.</li>  <li>Frontline's Q3 results missed estimates.Analysts expect&nbsp;<b>Frontline Ltd.</b>&nbsp;to post a quarterly loss at $1.58 per share on revenue of $605.57 million before the opening bell. Frontline shares dropped 2.8% to&nbsp;$6.61 in premarket tradingMonday.</li> </ul></p><p><blockquote><ul><li>理想汽车第三季度业绩超出预期，总收入达到12.1亿美元；交付量达到25,116辆；毛利率达到23.3%。华尔街预期<b>理想汽车公司。</b>开盘前报告季度亏损为每股 0.02 美元，营收为 11.6 亿美元。周一盘前交易中，理想汽车股价上涨 5.8%，至 34.29 美元。</li><li><b>现代公司。</b>该公司是第二家获得 COVID-19 疫苗授权的生物制药公司，该公司有信心很快就会拿出一些东西来应对最新的病毒威胁。据报道，该公司首席医疗官保罗-伯顿（Paul Burton）在英国广播公司（BBC）的 “安德鲁-马尔秀”（Andrew Marr Show）节目中说，该公司目前的疫苗将针对新变种进行测试，其提供免疫力的能力可能会在未来几周内揭晓。Moderna 股价在周一盘前交易中上涨 10.2%，至 363.3 美元。</li><li>分析师预计<b>斯通克斯集团公司。</b>最新季度每股收益 1.44 美元，营收为 2.8055 亿美元。该公司将在收盘后发布财报。StoneX 股价周五下跌 3.4%，收于 66.70 美元。</li></ul><ul><li><b>特斯拉公司</b>据彭博社援引德国杂志《Automobilwoche》报道，该公司可能会于 12 月在德国柏林超级工厂开始生产运营。周一盘前交易中，特斯拉股价上涨超过 2%，至 1,106.2 美元。</li><li>Frontline 第三季度业绩低于预期。分析师预期<b>前线有限公司</b>开盘前，季度亏损为每股 1.58 美元，营收为 6.0557 亿美元。周一盘前交易中，Frontline 股价下跌 2.8%，至 6.61 美元。</li></ul></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>5 Stocks To Watch For November 29, 2021<blockquote>2021 年 11 月 29 日值得关注的 5 只股票</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\">\n5 Stocks To Watch For November 29, 2021<blockquote>2021 年 11 月 29 日值得关注的 5 只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-11-29 17:34</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Some of the stocks that may grab investor focus today are:</p><p><blockquote>今天可能吸引投资者关注的一些股票是：</blockquote></p><p> <ul>  <li>Li Auto's Q3 results beat estimates.its&nbsp;total revenues reached $1.21 billion;deliveries reached 25,116 vehicles;gross margin reached 23.3%.Wall Street expects&nbsp;<b>Li Auto Inc.</b>&nbsp;to report a quarterly loss at $0.02 per share on revenue of $1.16 billion before the opening bell. Li Auto shares rose 5.8% to $34.29 in premarket trading&nbsp;Monday.</li>  <li><b>Moderna, Inc.</b>, which was the second biopharma company to get authorization for a COVID-19 vaccine, is confident it will have something on the table shortly to tackle the latest virus threat. The company’s current vaccine will be tested against the new variant, and its ability to offer immunity will likely be known over the next couple of weeks, the company's chief medical officer Paul Burton reportedly said on BBC's \"Andrew Marr Show.\" Moderna shares rose 10.2% to $363.3 in premarket tradingMonday.</li>  <li>Analysts are expecting&nbsp;<b>StoneX Group Inc.</b>&nbsp;to have earned $1.44 per share on revenue of $280.55 million for the latest quarter. The company will release earnings after the closing bell. StoneX shares dropped 3.4% to close at $66.70 on Friday.</li> </ul> <ul>  <li><b>Tesla, Inc</b>&nbsp;will likely commence production operations at its Giga Berlin in Germany in December, Bloomberg reported, citing German magazine Automobilwoche. Tesla shares rallied more&nbsp;than&nbsp;2% to $1,106.2 in premarket tradingMonday.</li>  <li>Frontline's Q3 results missed estimates.Analysts expect&nbsp;<b>Frontline Ltd.</b>&nbsp;to post a quarterly loss at $1.58 per share on revenue of $605.57 million before the opening bell. Frontline shares dropped 2.8% to&nbsp;$6.61 in premarket tradingMonday.</li> </ul></p><p><blockquote><ul><li>理想汽车第三季度业绩超出预期，总收入达到12.1亿美元；交付量达到25,116辆；毛利率达到23.3%。华尔街预期<b>理想汽车公司。</b>开盘前报告季度亏损为每股 0.02 美元，营收为 11.6 亿美元。周一盘前交易中，理想汽车股价上涨 5.8%，至 34.29 美元。</li><li><b>现代公司。</b>该公司是第二家获得 COVID-19 疫苗授权的生物制药公司，该公司有信心很快就会拿出一些东西来应对最新的病毒威胁。据报道，该公司首席医疗官保罗-伯顿（Paul Burton）在英国广播公司（BBC）的 “安德鲁-马尔秀”（Andrew Marr Show）节目中说，该公司目前的疫苗将针对新变种进行测试，其提供免疫力的能力可能会在未来几周内揭晓。Moderna 股价在周一盘前交易中上涨 10.2%，至 363.3 美元。</li><li>分析师预计<b>斯通克斯集团公司。</b>最新季度每股收益 1.44 美元，营收为 2.8055 亿美元。该公司将在收盘后发布财报。StoneX 股价周五下跌 3.4%，收于 66.70 美元。</li></ul><ul><li><b>特斯拉公司</b>据彭博社援引德国杂志《Automobilwoche》报道，该公司可能会于 12 月在德国柏林超级工厂开始生产运营。周一盘前交易中，特斯拉股价上涨超过 2%，至 1,106.2 美元。</li><li>Frontline 第三季度业绩低于预期。分析师预期<b>前线有限公司</b>开盘前，季度亏损为每股 1.58 美元，营收为 6.0557 亿美元。周一盘前交易中，Frontline 股价下跌 2.8%，至 6.61 美元。</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","MRNA":"Moderna, Inc.","FRO":"FRONTLINE PLC","LI":"理想汽车","SNEX":"StoneX Group Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193304775","content_text":"Some of the stocks that may grab investor focus today are:\n\nLi Auto's Q3 results beat estimates.its total revenues reached $1.21 billion;deliveries reached 25,116 vehicles;gross margin reached 23.3%.Wall Street expects Li Auto Inc. to report a quarterly loss at $0.02 per share on revenue of $1.16 billion before the opening bell. Li Auto shares rose 5.8% to $34.29 in premarket trading Monday.\nModerna, Inc., which was the second biopharma company to get authorization for a COVID-19 vaccine, is confident it will have something on the table shortly to tackle the latest virus threat. The company’s current vaccine will be tested against the new variant, and its ability to offer immunity will likely be known over the next couple of weeks, the company's chief medical officer Paul Burton reportedly said on BBC's \"Andrew Marr Show.\" Moderna shares rose 10.2% to $363.3 in premarket tradingMonday.\nAnalysts are expecting StoneX Group Inc. to have earned $1.44 per share on revenue of $280.55 million for the latest quarter. The company will release earnings after the closing bell. StoneX shares dropped 3.4% to close at $66.70 on Friday.\n\n\nTesla, Inc will likely commence production operations at its Giga Berlin in Germany in December, Bloomberg reported, citing German magazine Automobilwoche. Tesla shares rallied more than 2% to $1,106.2 in premarket tradingMonday.\nFrontline's Q3 results missed estimates.Analysts expect Frontline Ltd. to post a quarterly loss at $1.58 per share on revenue of $605.57 million before the opening bell. Frontline shares dropped 2.8% to $6.61 in premarket tradingMonday.","news_type":1,"symbols_score_info":{"FRO":0.9,"MRNA":0.9,"LI":0.9,"TSLA":0.9,"SNEX":0.9}},"isVote":1,"tweetType":1,"viewCount":3511,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877499750,"gmtCreate":1637968580730,"gmtModify":1637968798443,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"😪","listText":"😪","text":"😪","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/877499750","repostId":"2186344334","repostType":4,"isVote":1,"tweetType":1,"viewCount":4294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872525754,"gmtCreate":1637550106632,"gmtModify":1637550106632,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/872525754","repostId":"1174499408","repostType":4,"isVote":1,"tweetType":1,"viewCount":3451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693193788,"gmtCreate":1639981424920,"gmtModify":1639981425092,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"thanks for sharing&nbsp;","listText":"thanks for sharing&nbsp;","text":"thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693193788","repostId":"1183475424","repostType":4,"repost":{"id":"1183475424","kind":"news","pubTimestamp":1639967829,"share":"https://www.laohunote.com/m/news/1183475424?lang=zh_CN&edition=full","pubTime":"2021-12-20 10:37","market":"us","language":"en","title":"Apple Stock: The Strongest Shield Against Rate Hikes<blockquote>苹果股票：抵御加息的最强盾牌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183475424","media":"Seeking Alpha","summary":"Summary\n\nWith inflation running its hottest course in 40 years, the Federal Reserve has decided to a","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>With inflation running its hottest course in 40 years, the Federal Reserve has decided to accelerate the stimulus tapering schedule and prepare for raising interest rates as early as March.</li>  <li>While rate hikes have historically deterred investors from growth stocks due to concerns over eroding valuation prospects, the Apple stock has remained largely resilient.</li>  <li>Apple is expected to realize additional upsides ahead, sustained by robust demand for its existing offerings and new opportunities arising from nascent technologies like AR/VR and autonomous vehicles.</li>  <li>Its strong net cash position also provides sufficient dry powder to fund additional growth in coming years without incurring additional costs of capital amidst rising interest rates.</li>  <li>As such, Apple's bullish thesis remains intact as it approaches a $3 trillion valuation, despite broader market valuation risks ahead.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fdf73ac36a98ce54b343c7e6b613f4d9\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>guvendemir/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>随着通胀处于40年来最热的阶段，美联储决定加快刺激缩减时间表，并准备最早在3月份加息。</li><li>尽管由于担心估值前景恶化，加息历来会阻止投资者购买成长型股票，但苹果股票在很大程度上仍然具有弹性。</li><li>在对其现有产品的强劲需求以及 AR/VR 和自动驾驶汽车等新兴技术带来的新机遇的支持下，苹果预计将在未来实现额外的上涨空间。</li><li>其强劲的净现金状况也提供了足够的干粉来为未来几年的额外增长提供资金，而不会在利率上升的情况下产生额外的资本成本。</li><li>因此，尽管未来存在更广泛的市场估值风险，但苹果的看涨论点在其估值接近 3 万亿美元时仍然完好无损。</li></ul><p class=\"t-img-caption\"><span>guvendemir/iStock 未通过 Getty Images 发布</span></p></blockquote></p><p> As one of the world’s best performing stocks, Apple(NASDAQ:AAPL)&nbsp;has gained close to 40% this year. The stock, which last peaked at $182.13 not too long ago, is currently less than 7% from being the first U.S. publicly listed company to reach a $3 trillion market value and single-handedly accounts for about 15% of the tech-heavy Nasdaq 100’s performance. Apple’s market value has grown by&nbsp;more than 220x&nbsp;since the late 1990s, buoyed by the company’s continuous ability to capture robust demand for its innovative portfolio of products and services.</p><p><blockquote>作为全球表现最好的股票之一，苹果（纳斯达克股票代码：AAPL）今年上涨了近 40%。该股不久前曾触及 182.13 美元的最高点，目前距离成为第一家市值达到 3 万亿美元的美国上市公司还不到 7%，单枪匹马就占据了以科技股为主的纳斯达克 100 指数业绩的约 15%。自 20 世纪 90 年代末以来，苹果的市值增长了 220 多倍，这得益于该公司持续能够抓住对其创新产品和服务组合的强劲需求。</blockquote></p><p> And Apple’s strong fundamentals are expected to help the stock defy adverse impacts from the imminent rate hikes beginning next year. With inflation running at its hottest in almost four decades, the Federal Reserve decided Wednesday that it will increase the pace at which it is dialing back on the $120 billion monthly bond repurchasing program from $15 billion per month, which began in November, to&nbsp;$30 billion per month. This would effectively conclude the stimulus program, put in place at the onset of the pandemic, coming March, rather than in&nbsp;July as initially planned. Rate hikes are expected to begin soon after to counter rising price pressures, with Federal Reserve Chair Jerome Powell affirming that the process will only begin after tapering ends and at a gradual pace. The latest dot plot indicates potential for the Federal Fund Rate to lift-off from near-zero beginning early 2022 with three quarter-point increases, plus another three in 2023 and two more in 2024. If materialized, the process would up the funds rate to 2.1% by 2024.</p><p><blockquote>苹果强劲的基本面有望帮助该股抵御明年开始即将加息带来的不利影响。随着通胀达到近四十年来的最高点，美联储周三决定加快每月 1200 亿美元债券回购计划的步伐，从 11 月开始的每月 150 亿美元降至每月 300 亿美元。这将有效地结束疫情爆发时实施的刺激计划，即明年3月，而不是最初计划的7月。加息预计将很快开始，以应对不断上升的价格压力，美联储主席杰罗姆·鲍威尔确认，这一过程只有在缩减规模结束后才会开始，并且步伐渐进。最新的点阵图表明，联邦基金利率有可能从 2022 年初的接近于零的水平上升，并上调三个四分之一点，2023 年再上调三个四分之一点，2024 年再上调两个。如果实现，到 2024 年，这一过程将把基金利率提高到 2.1%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2ef3ca2d04c1b55a465e12bfae79890e\" tg-width=\"640\" tg-height=\"315\" width=\"100%\" height=\"auto\"><span>Source: Bloomberg</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：彭博社</span></p></blockquote></p><p> While rate hikes typically cause investors to turn risk averse due to concerns over&nbsp;faster erosion of value on future gains&nbsp;and stalled business growth due to rising costs of capital, especially for high-growth stocks, Apple gained close to 3% upon release of the Fed’s update on policy tightening. The stock closed at $179.30 on December 15th, nearing its peak of $182 on Monday. Apple’s rally, along with similar uptrends observed across other mega-cap tech stocks, accordingly drove intra-day gains of 2.4% for the Nasdaq 100 following the Federal Reserve’s update, indicating investors’ preference to park their money in companies with robust growth prospects to counter risks from the impending rate increases.</p><p><blockquote>虽然加息通常会导致投资者规避风险，因为他们担心未来收益的价值会更快地受到侵蚀，而且由于资本成本上升（尤其是高增长股票）导致业务增长停滞，但在美联储发布紧缩政策的最新消息后，苹果股市上涨了近3%。该股12月15日收于179.30美元，接近周一182美元的峰值。在美联储发布最新消息后，苹果的反弹以及其他大型科技股的类似上升趋势相应地推动了纳斯达克 100 指数盘中上涨 2.4%，这表明投资者更倾向于将资金投入增长前景强劲的公司，以应对即将加息带来的风险。</blockquote></p><p> With the coming holiday season a boon for Apple’s December-quarter sales, the stock’s valuation is expected to enter in the $3 trillion territory sooner than expected. Continued robust demand observed across Apple’s entire product line, generous share buy-backs, and additional revenue contributions expected within the foreseeable future resulting from new, cutting-edge products will also be key catalysts to support the company’s persistently strong fundamentals and keep the stock’s valuation above $3 trillion despite the impending rate hikes. Considering recent developments to the broader market and Apple’s growth prospects, we are raising our 12-month price target for the stock to $209.43.</p><p><blockquote>随着即将到来的假日季对苹果 12 月季度的销售额有利，该股估值预计将比预期更早进入 3 万亿美元大关。苹果整个产品线的持续强劲需求、慷慨的股票回购，以及预计在可预见的未来，新的尖端产品将带来额外的收入贡献，也将成为支撑公司持续强劲基本面的关键催化剂，并在即将加息的情况下将使股票估值保持在 3 万亿美元以上。考虑到大盘的近期发展和苹果的增长前景，我们将该股的 12 个月目标价上调至 209.43 美元。</blockquote></p><p> <b>FY 2021 Overview and Recap of Fundamental Prospects</b></p><p><blockquote><b>2021财年概述及基本前景回顾</b></blockquote></p><p></p><p> Fiscal 2021 was a big year for Apple. The company’s revenues for the year grew 33% from fiscal 2020 to $366 billion, despite on-and-off store closures resulting from recurring coronavirus outbreaks and supply chain constraints that have led to more than $9 billion in lost sales. Every product and service segment achieved record-setting revenues with more than 20% growth from previous year results. Much of the year’s success were attributable to a series of new product launches and feature upgrades. The most notable of which included the 5G-enabled family of iPhone 12s and iPhone 13s, as well as the M1-powered MacBook Pro and iPad Pro.</p><p><blockquote>2021财年对苹果来说是重要的一年。尽管冠状病毒反复爆发和供应链限制导致门店断断续续关闭，导致销售额损失超过 90 亿美元，但该公司全年的收入比 2020 财年增长了 33%，达到 3660 亿美元。每个产品和服务部门都实现了创纪录的收入，比上一年的业绩增长了20%以上。今年的成功很大程度上归功于一系列新产品的发布和功能的升级。其中最引人注目的包括支持5G的iPhone 12s和iPhone 13s系列，以及支持M1的MacBook Pro和iPad Pro。</blockquote></p><p> <b>Key Developments in Products</b></p><p><blockquote><b>产品的主要发展</b></blockquote></p><p> iPhone sales grew by 39% this year, the most amongst other segments, and drove more than half of Apple’s fiscal 2021 revenues. The results were a stark contrast to last year’s slump in demand for the mobile device when consumers braced for pandemic-driven economic uncertainties. iPhone sales are expected to remain robust in coming years as global 5G device upgrades continue to gather pace. The likely launch of a more affordable 5G-enabled iPhone SE in 2022 is also expected to further Apple’s market share gains by&nbsp;attracting switchers&nbsp;from “more than a billion non-premium Android users”, and drive the active installed base to another all-time high. The anticipated momentum is further corroborated by iPhone sales patterns observed in recent quarters following the launch of 5G-enabled iPhone 12s and iPhone 13s, where the number of upgraders and switchers grew by&nbsp;strong double digits. Apple’s strong ties with cell-phone carriers is also expected to drive meaningful iPhone sales contributions in coming years. Reputable wireless carriers in the U.S. like&nbsp;Verizon&nbsp;and&nbsp;AT&amp;T&nbsp;have already been keen on promoting the sale of 5G-enabled devices like the iPhone 12 and iPhone 13 to encourage migration to the 5G network that they have spent billions of dollars on building across the nation. Telecom companies around the world are expected to spend&nbsp;more than $700 billion&nbsp;over the next five years on building-out the 5G network, underscoring significant additional growth opportunities ahead for the iPhone segment as carriers push for the strongest multiyear upgrade cycle in a decade to recoup their investments.</p><p><blockquote>iPhone 今年的销量增长了 39%，是其他细分市场中增长最快的，并贡献了苹果 2021 财年一半以上的收入。这一结果与去年移动设备需求的下滑形成了鲜明对比，当时消费者正在为大流行病带来的经济不确定性做好准备。随着全球5G设备升级步伐不断加快，iPhone销售预计将在未来几年保持强劲。2022 年可能会推出更实惠的支持 5G 的 iPhone SE，这也将吸引 “超过 10 亿非高端安卓用户 ”的转换用户，从而进一步扩大苹果的市场份额，并将活跃安装基数推向历史新高。在支持 5G 的 iPhone 12s 和 iPhone 13s 推出后，最近几个季度观察到的 iPhone 销售模式进一步证实了预期的势头，升级和切换用户的数量强劲增长了两位数。苹果与手机运营商的紧密联系预计也将在未来几年推动 iPhone 的销售贡献。威瑞森和美国电话电报公司等美国知名无线运营商已经热衷于促进iPhone 12和iPhone 13等支持5G的设备的销售，以鼓励向他们花费数十亿美元在全国范围内建设的5G网络迁移。预计全球电信公司将在未来五年内花费超过7000亿美元建设5G网络，这凸显了随着运营商推动十年来最强劲的多年升级周期以收回投资，iPhone领域未来的巨大增长机会。</blockquote></p><p> Mac and iPad sales also grew significantly in fiscal 2021, reaching record revenues of $35.2 billion and $31.9 billion, respectively. Following the introduction of the&nbsp;all-new M1-powered iMac&nbsp;earlier this year, Apple also unveiled the&nbsp;reimagined M1-Pro / M1-Max powered MacBook Pro&nbsp;in October. The custom M1 processors made the newest MacBook “better than any Intel-based device for nearly every productivity use case outside of gaming”. This accordingly drove incredible demand for the portable workstation from a diverse group of consumers, ranging from professional creators and photographers to corporate users and students. The company is estimated to have shipped&nbsp;over 3.2 million units&nbsp;of Mac products during the September quarter, which drove record-setting revenues for the segment, while boosting its rank in global PC sales to fourth place amongst other vendors. The introduction of M1-processors in Apple’s computing products also bolstered its position in capitalizing on the surge in global demand for PCs and multi-purpose tablets by allowing the company to build devices with innovative features that can be seamlessly integrated across its ecosystem of peripheral accessories and services to draw adjacent revenues. With accelerated adoption of hybrid work and study arrangements in the post-pandemic era, global demand for portable workstations like PCs and multi-purpose tablets are expected to remain elevated in coming years – the sectors are expected to grow into a&nbsp;$224.3 billion&nbsp;and$600 billion&nbsp;market, respectively, by 2025, which makes favorable trends for Apple’s Mac and iPad segments.</p><p><blockquote>Mac 和 iPad 销量在 2021 财年也大幅增长，收入分别达到创纪录的 352 亿美元和 319 亿美元。继今年早些时候推出全新M1驱动的iMac后，苹果还在10月份推出了重新设计的M1-Pro/M1-Max驱动的MacBook Pro。定制的 M1 处理器使最新的 MacBook “在游戏以外的几乎所有生产力用例上都优于任何基于英特尔的设备”。这相应地推动了不同消费者群体对便携式工作站的巨大需求，从专业创作者和摄影师到企业用户和学生。据估计，该公司在 9 月份季度的 Mac 产品出货量超过 320 万台，推动了该部门创纪录的收入，同时将其在全球 PC 销量中的排名提升至其他供应商的第四位。在苹果的计算产品中引入 M1 处理器也巩固了其在利用全球对 PC 和多功能平板电脑需求激增的优势方面的地位，使该公司能够制造具有创新功能的设备，这些设备可以在其外围配件和服务生态系统中无缝集成，从而吸引相关收入。随着后大流行病时代混合工作和学习安排的加速采用，预计未来几年全球对个人电脑和多功能平板电脑等便携式工作站的需求将保持高位--到 2025 年，这两个行业的市场预计将分别增长到 2,243 亿美元和 6,000 亿美元，这将为苹果的 Mac 和 iPad 细分市场带来有利趋势。</blockquote></p><p> Recent speculations on Apple’s intentions to&nbsp;strengthen its in-house chip development capacity&nbsp;will likely further the advancement of its technologies offered in coming years and draw additional demand to its products. The company is currently looking for engineers to build-out its capacity in the development of “wireless radios, radio-frequency integrated circuits, and a wireless system-on-chip (“SoC”)”, as well as “semiconductors for connecting Bluetooth and Wi-Fi”. These developments are expected to further enhance seamless integration across Apple’s devices and increase stickiness to its ecosystem of product and service offerings, making its chip unit one of the company’s “most prized assets”.</p><p><blockquote>最近有猜测称，苹果有意加强其内部芯片开发能力，这可能会在未来几年进一步推动其技术的进步，并吸引对其产品的更多需求。该公司目前正在寻找工程师，以增强其在 “无线收音机、射频集成电路和无线片上系统（“SoC”）”以及 “用于连接蓝牙和 Wi-Fi 的半导体”方面的开发能力。这些发展有望进一步增强苹果设备之间的无缝集成，并增加其产品和服务生态系统的粘性，使其芯片部门成为公司 “最宝贵的资产 ”之一。</blockquote></p><p> <b>Key Developments in Services</b></p><p><blockquote><b>服务的主要发展</b></blockquote></p><p></p><p> On the services front, a strong subscriber base had enabled the segment to hit record-setting revenues of more than $68.4 billion in fiscal 2021, up 27% from the prior year. To date, Apple has garnered more than 745 million paid subscribers across its high-margin service offerings, representing a five-fold increase over the last five years. Apple’s increasing push for a subscription-based business model across its wide variety of service platforms, ranging from Apple Music to iCloud storage solutions, paired with attractive new offerings that address key consumer trends in recent years have been a key driver to the company’s fast-expanding margins. New exciting add-on features introduced for existing service platforms include&nbsp;Spatial Audio and Lossless Audiofor Apple Music and the&nbsp;Apple Music Voice Plan. The new subscription-based offerings are expected to further Apple’s reach to adjacent opportunities stemming from increasing global usage of smartphones, laptops and other advanced home electronic products – for instance, the global music streaming market is expected to expand at a CAGR of 16% towards a&nbsp;projected value of $61 billion&nbsp;over the next five years, underscoring significant growth headroom for Apple Music. And Apple’s latest introduction of the&nbsp;Apple One bundle&nbsp;is expected to be a key contributor to furthering service segment sales in coming years by attracting new users to pay for subscription services that they otherwise would not have had it not been for the bundle discounts.</p><p><blockquote>在服务方面，强大的用户群使该部门在 2021 财年的收入创下了超过 684 亿美元的纪录，比上一年增长了 27%。迄今为止，苹果通过其高利润服务产品获得了超过 7.45 亿付费用户，比过去五年增长了五倍。苹果在其从苹果音乐到 iCloud 存储解决方案等各种服务平台上不断推行基于订阅的商业模式，再加上近年来针对主要消费趋势的有吸引力的新产品，一直是该公司利润率快速增长的关键驱动力。为现有服务平台引入的令人兴奋的新附加功能包括苹果音乐的空间音频和无损音频以及苹果音乐语音计划。新的基于订阅的产品有望进一步扩大苹果对智能手机、笔记本电脑和其他先进家用电子产品全球使用量不断增加所带来的邻近机遇的影响力--例如，全球音乐流媒体市场预计将在未来五年内以 16% 的复合年增长率扩大，预计价值将达到 610 亿美元，这凸显了苹果音乐的巨大增长空间。苹果最新推出的苹果 One 捆绑包预计将在未来几年吸引新用户为订阅服务付费，而如果不是捆绑包折扣，他们是不会购买这些服务的。</blockquote></p><p> Continued growth in market demand for mobile applications will also be a boon to Apple’s fast-growing services segment. The global market for mobile applications is expected to grow at a CAGR of 18.4% and reach a market value of&nbsp;more than $400 billion&nbsp;over the next five years. With AAPL hosting&nbsp;one of the largest and most used app stores&nbsp;in the world, it would be reasonable to assume that related revenues would grow at a similar pace. Despite&nbsp;mounting global regulatory scrutiny&nbsp;over Apple’s alleged antitrust violations with its App Store – the most notable of which stemming from an ongoing&nbsp;legal battle with Epic Games– the company’s continued focus on ensuring user privacy, security, and ease of transactions might have saved the day. According to a survey of 4,000 Apple product users performed by Morgan Stanley across the U.S. and China, most have indicated loyalty to Apple’s App store due to the “value of security, privacy and ease of transactions” provided, despite developers pushing for rights to transact outside of Apple’s ecosystem. Apple’s recent success in&nbsp;delaying App Store changes&nbsp;ordered by U.S. District Judge Yvonne Gonzalez Rogers in&nbsp;September&nbsp;as part of a year-long lawsuit brought against by Epic Games is another sign of the App Store’s continued strength. The company has argued that the court-mandated order to allow App Store users to “buy directly from developers on the web” would be a threat to the security of their privacy.</p><p><blockquote>移动应用市场需求的持续增长也将有利于苹果快速增长的服务部门。全球移动应用市场预计将以18.4%的CAGR增长，未来五年市值将超过4000亿美元。由于 AAPL 拥有世界上最大、使用最广泛的应用商店之一，因此可以合理地假设相关收入将以类似的速度增长。尽管全球监管机构对苹果的 App Store 涉嫌违反反垄断规定的审查越来越多--其中最引人注目的是与 Epic Games 正在进行的法律诉讼--但该公司继续专注于确保用户隐私、安全和交易便利性可能已经挽救了局面。根据摩根士丹利在美国和中国大陆对 4000 名苹果产品用户进行的调查，大多数人对苹果的应用商店表示忠诚，因为该商店提供了 “安全、隐私和易于交易的价值”，尽管开发者正在推动在苹果生态系统之外进行交易。苹果最近成功推迟了美国地区法官伊冯娜-冈萨雷斯-罗杰斯（Yvonne Gonzalez Rogers）9 月份下令对 App Store 进行的更改，这是 Epic Games 对其提起长达一年的诉讼的一部分，这也是 App Store 持续强大的又一迹象。该公司辩称，法院下令允许 App Store 用户 “直接从网络上的开发者那里购买 ”，这将对他们的隐私安全构成威胁。</blockquote></p><p> Currently, developers are fighting for their rights to have app users transact outside of Apple’s ecosystem, which charges developers a hefty commission fee of up to 30% on all purchases. As Apple continues with its appeal of the ruling, the ultimate court decision on whether App Store changes would need to be implemented could take at least another year. But even with an unfavorable ruling, where Apple would have to allow developers to redirect users to payments outside of its ecosystem and/or lower its in-app purchase commission rate, App Store revenues are only expected to decrease by&nbsp;at most $4 billion per year&nbsp;which will not place a material impact on its valuation prospects. The actual quantified impact might even be less than what the market has forecasted, considering the value that App Store users have ascribed to the level of security and convenience that Apple has offered through the platform.</p><p><blockquote>目前，开发者正在争取让应用程序用户在苹果生态系统之外进行交易的权利，该生态系统向开发者收取高达 30% 的高额佣金。随着苹果继续对该裁决提出上诉，法院关于是否需要实施 App Store 变更的最终裁决可能至少还需要一年时间。但即使做出不利的裁决，苹果将不得不允许开发者将用户重定向到其生态系统之外的支付和/或降低其应用内购买佣金率，App Store的收入预计每年最多也只会减少40亿美元，这不会对其估值前景产生重大影响。考虑到 App Store 用户对苹果通过该平台提供的安全性和便利性水平的重视，实际量化影响甚至可能低于市场预测。</blockquote></p><p> <b>Key Catalysts Ahead</b></p><p><blockquote><b>未来的关键催化剂</b></blockquote></p><p></p><p> Apple is undoubtedly a key gateway to bringing emerging technologies to the mainstream due to its massive installed base of devices and related service platform users. And because of this, the highly anticipated launch of cutting-edge products like AR/VR headsets and autonomous vehicles in coming years will likely catapult the stock to new heights. The pioneer of disruptive consumer electronics and devices is expected to launch a&nbsp;VR headset and AR glasses&nbsp;by early 2023, a nascent technology that has been picking up steam in recent months with increasing talks of the metaverse. Similar to most VR headsets already available in the market, Apple’s will feature a 3D display to enable an immersive environment for a variety of activities from gaming to communicating. The differentiating factor will be the company’s plans to implement best-in-class graphics chips in the device to facilitate ultra-high-resolution displays. The impending VR headset will ultimately lay the foundation for its AR glasses, which Apple expects to be the “larger opportunity”.</p><p><blockquote>由于其庞大的设备安装基数和相关服务平台用户，苹果无疑是将新兴技术带入主流的关键门户。正因为如此，未来几年备受期待的AR/VR耳机和自动驾驶汽车等尖端产品的推出可能会将该股推向新的高度。这家颠覆性消费电子产品和设备的先驱预计将于 2023 年初推出 VR 耳机和 AR 眼镜，这项新兴技术近几个月来随着有关元宇宙的讨论越来越多，势头强劲。与市场上已有的大多数 VR 头显类似，苹果的 VR 头显将采用 3D 显示屏，为从游戏到交流等各种活动提供身临其境的环境。该公司计划在设备中采用一流的图形芯片，以实现超高分辨率显示屏。即将推出的 VR 头显最终将为其 AR 眼镜奠定基础，苹果预计这将是 “更大的机会”。</blockquote></p><p> Over the next five years, opportunities pertaining to the metaverse are expected to blossom into an&nbsp;$800 billion market. Related software and service sales are expected to drive more than 70% of the projected addressable market, while the remainder will likely be driven by hardware sales. This makes strong tailwinds for Apple, which does not only stand to capitalize on growing metaverse opportunities through the sale of its impending AR/VR headset, but also adjacent revenues pertaining to the usage of related apps, software and service platforms.</p><p><blockquote>未来五年，与元宇宙相关的机会预计将发展成为一个价值 8000 亿美元的市场。相关软件和服务销售预计将推动预计潜在市场的 70% 以上，而其余部分可能由硬件销售推动。这为苹果带来了强劲的推动力，该公司不仅可以通过销售即将推出的 AR/VR 耳机来利用不断增长的元宇宙机会，还可以利用与使用相关应用程序、软件和服务平台相关的相关收入。</blockquote></p><p> Speculations on Apple’s ongoing development of&nbsp;a self-driving electric car&nbsp;is also expected to materialize into meaningful upsides for the stock within the foreseeable future. The company is now planning to launch the new product category by 2025, at which time the global autonomous vehicle market is expected to reach a value of&nbsp;more than $200 billion. The eventual car will likely feature homages to its existing product portfolio, like an “iPad-like touch screen” infotainment system. And on the technology front, Apple is believed to have completed the development of a custom silicon for powering the vehicle’s autonomous driving capabilities. The newest chips will soon be implemented into its existing fleet of retrofitted SUVs for testing in California according to the state’s DMV, a sign that the impending launch is near.</p><p><blockquote>在可预见的未来，关于苹果正在开发自动驾驶电动汽车的猜测也有望为该股带来有意义的上涨空间。该公司目前计划在2025年前推出新产品类别，届时全球自动驾驶汽车市场价值预计将超过2000亿美元。最终推出的汽车很可能会向其现有的产品组合致敬，比如 “类似 iPad 的触摸屏 ”信息娱乐系统。在技术方面，据信苹果已经完成了为汽车自动驾驶功能提供动力的定制硅的开发。据加州车管所称，最新芯片将很快应用于其现有的改装 SUV 车队，以便在加州进行测试，这表明即将推出的芯片即将到来。</blockquote></p><p> While Apple’s current market value may already be reflective of “consistent material revenue contributions from new products and services over time”, additional upsides from the above-mentioned new product category launches are still missing. But this will likely change within the next 12 months as the impending launch of an Apple AR/VR device draws near. Near-term projections on early AR/VR device sales are expected to boost Apple’s valuation by&nbsp;at least $150 billion. And over time when metaverse trends continue to gain mainstream traction, Apple is expected to generate more than $200 billion in annual revenues from the AR/VR segment, which could add another 15% on top of its current market value.</p><p><blockquote>虽然苹果目前的市值可能已经反映了 “随着时间的推移，新产品和服务对收入的持续贡献”，但上述新产品类别的推出仍未带来额外的好处。但随着苹果AR/VR设备即将推出，这种情况可能会在未来12个月内发生变化。对早期 AR/VR 设备销售的近期预测预计将使苹果的估值至少提高 1500 亿美元。随着时间的推移，随着元宇宙趋势继续获得主流牵引力，苹果预计将从 AR/VR 领域产生超过 2000 亿美元的年收入，这可能会在其当前市值的基础上再增加 15%。</blockquote></p><p> <b>Valuation Prospects and Potential Impacts from the Impending Rate Increases</b></p><p><blockquote><b>即将加息的估值前景和潜在影响</b></blockquote></p><p> Adjusting our most recent forecast for Apple’s fiscal 2021 year-end results and December-quarter guidance, our base case projection estimates total net sales of $439.3 billion by the end of fiscal 2022, with further growth towards $668.5 billion by fiscal 2026. The growth assumptions applied across segment revenues in our forecast remains largely unchanged from our&nbsp;most recent analysis&nbsp;on the stock, with additional consideration for management’s near-term outlook on supply constraint impacts and the impending rate hikes. Specifically, lost revenues of $9 billion (i.e. approximately $3 billion during June-quarter and $6 billion during September-quarter) attributable to industry-wide chip shortages and pandemic-driven manufacturing delays during the second half of fiscal 2021 is expected to worsen into the first half of fiscal 2022. While there have been observed improvements to supply chain challenges, continuously robust demand for Apple products is what will drive a higher volume of lost sales in coming quarters. Nonetheless, Apple remains well-positioned for strong fundamentals ahead, which will help to alleviate some of investors’ concerns on valuation due to impending rate hikes.</p><p><blockquote>调整我们对苹果 2021 财年年终业绩和 12 月份季度指引的最新预测后，我们的基本案例预测预计到 2022 财年末，净销售总额将达到 4393 亿美元，到 2026 财年将进一步增长至 6685 亿美元。在我们的预测中，各部门收入的增长假设与我们最近对该股的分析基本保持不变，但还额外考虑了管理层对供应紧张影响和即将加息的近期展望。具体来说，2021 财年下半年全行业芯片短缺和大流行导致的制造延误造成的 90 亿美元收入损失（即 6 月份季度约 30 亿美元，9 月份季度约 60 亿美元）预计将恶化到 2022 财年上半年。虽然供应链挑战有所改善，但对苹果产品的持续强劲需求将推动未来几个季度销售额的增加。尽管如此，苹果未来的基本面依然强劲，这将有助于缓解投资者因即将加息而对估值的一些担忧。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b5aa95136cfca6f95b962ea36eadab74\" tg-width=\"640\" tg-height=\"257\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <i>i. Base Case Financial Projections:</i></p><p><blockquote><i>i. 基本情况财务预测：</i></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6585b165abd25fab7d171dd944d05156\" tg-width=\"640\" tg-height=\"316\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal financial forecast (Apple_-_Forecasted_Financial_Information.pdf). Please refer here for further detail on material growth assumptions applied.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部财务预测（Apple_-_Forecasted_Financial_Information.pdf）。有关应用的重大增长假设的进一步详情，请参阅此处。</span></p></blockquote></p><p> Drawing on the above considerations, our 12-month price target for the Apple stock has been revised to $209.43. This represents upside potential of more than 22% based on the last traded price of $171.14 on December 17th.</p><p><blockquote>基于上述考虑，我们对苹果股票的 12 个月目标价已修正至 209.43 美元。根据 12 月 17 日最后交易价格 171.14 美元计算，这意味着超过 22% 的上涨潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e88e904b5b900fbcdf4541d856570e2d\" tg-width=\"640\" tg-height=\"230\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal valuation analysis.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部估值分析。</span></p></blockquote></p><p> The revised price target is derived using a discounted cash flow (“DCF”) analysis over a ten-year discrete period in conjunction with the financial projections updated for Apple’s recent developments as analyzed in earlier sections. Similar to our original valuation analysis, we have applied a WACC of 8% to discount Apple’s projected free cash flows. The discount function is reflective of the company’s risk profile, taking into consideration its current capital structure and strong balance sheet. Apple’s cost of capital for growth is not expected to change significantly as a result of the impending rate hikes, considering a large portion of its existing debt are fixed-rate notes. The company also boasts a consistently robust net cash position, in which management intends to deploy towards additional growth without having to incur incremental capital costs ahead of interest rate increases. This is expected to further cement investors’ confidence in the Apple stock, as they continue their “flight to quality” amidst fear of broader market pressure from rising interest rates.</p><p><blockquote>修订后的价格目标是使用十年离散期间的贴现现金流（“DCF”）分析，结合前面章节分析的苹果近期发展的最新财务预测得出的。与我们最初的估值分析类似，我们采用了 8% 的 WACC 来贴现苹果的预计自由现金流。考虑到公司目前的资本结构和稳健的资产负债表，贴现函数反映了公司的风险状况。考虑到苹果现有债务中有很大一部分是固定利率票据，预计其增长的资本成本不会因即将加息而发生重大变化。该公司还拥有持续强劲的净现金状况，管理层打算在利率上升之前部署额外增长，而不必承担额外的资本成本。预计这将进一步增强水泥投资者对苹果股票的信心，因为他们在担心利率上升会带来更广泛的市场压力的情况下，继续 “向优质方向飞奔”。</blockquote></p><p> The valuation analysis also assumes an exit multiple of 19.8x, which is consistent with current market expectations on Apple’s growth trajectory over the forecasted period. The applied exit multiple assumption could even improve further within the next 12 months, considering the impending launch of new product segments like AR/VR devices and autonomous vehicles, and offset any potential impacts from the upcoming increases to interest rates.</p><p><blockquote>估值分析还假设退出倍数为 19.8 倍，这与当前市场对苹果在预测期内增长轨迹的预期一致。考虑到AR/VR设备和自动驾驶汽车等新产品细分市场即将推出，所应用的退出倍数假设甚至可能在未来12个月内进一步改善，并抵消即将到来的加息带来的任何潜在影响。</blockquote></p><p> <i>i. Base Case Valuation Analysis:</i></p><p><blockquote><i>一、基本案例估值分析：</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/81f992ef8b2b59ea879f69a7b1e7ad52\" tg-width=\"640\" tg-height=\"300\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <i>ii. Sensitivity Analysis:</i></p><p><blockquote><i>ii.敏感性分析：</i></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da8b21dae04fd263929ab26bd8d83907\" tg-width=\"640\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal valuation analysis.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部估值分析。</span></p></blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Based on the foregoing analysis, the anticipated addition of 175 to 200 basis points to the current near-zero Federal Fund Rate over the next two years is not expected to cause material adverse impacts to Apple’s performance from both a fundamental and valuation perspective. Robust global demand for Apple products and services, paired with new innovations are expected to further bolster the company’s fundamental growth prospects. This would accordingly bring additional improvements to Apple’s balance sheet, and further strengthen its position against downward valuation pressures from broader macro headwinds. In fact, increasing demand for quality growth stocks to counter risks resulting from the impending rate hikes might even fuel Apple’s valuation growth momentum. On these considerations, Apple remains one of the best-performing tech stocks to own given its robust uptrend to $3 trillion in the near-term despite impending rate hikes.</p><p><blockquote>根据上述分析，从基本面和估值角度来看，预计未来两年在目前接近于零的联邦基金利率基础上增加 175 至 200 个基点，预计不会对苹果的业绩造成重大不利影响。全球对苹果产品和服务的强劲需求，加上新的创新，预计将进一步提振公司的基本增长前景。因此，这将进一步改善苹果的资产负债表，并进一步加强其抵御更广泛宏观逆风带来的估值下行压力的地位。事实上，为应对即将加息带来的风险，对优质成长型股票的需求不断增加，甚至可能推动苹果的估值增长势头。出于这些考虑，尽管即将加息，但苹果仍然是表现最好的科技股之一，因为其近期仍呈现强劲上升趋势，达到 3 万亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock: The Strongest Shield Against Rate Hikes<blockquote>苹果股票：抵御加息的最强盾牌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock: The Strongest Shield Against Rate Hikes<blockquote>苹果股票：抵御加息的最强盾牌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-20 10:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>With inflation running its hottest course in 40 years, the Federal Reserve has decided to accelerate the stimulus tapering schedule and prepare for raising interest rates as early as March.</li>  <li>While rate hikes have historically deterred investors from growth stocks due to concerns over eroding valuation prospects, the Apple stock has remained largely resilient.</li>  <li>Apple is expected to realize additional upsides ahead, sustained by robust demand for its existing offerings and new opportunities arising from nascent technologies like AR/VR and autonomous vehicles.</li>  <li>Its strong net cash position also provides sufficient dry powder to fund additional growth in coming years without incurring additional costs of capital amidst rising interest rates.</li>  <li>As such, Apple's bullish thesis remains intact as it approaches a $3 trillion valuation, despite broader market valuation risks ahead.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fdf73ac36a98ce54b343c7e6b613f4d9\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>guvendemir/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>随着通胀处于40年来最热的阶段，美联储决定加快刺激缩减时间表，并准备最早在3月份加息。</li><li>尽管由于担心估值前景恶化，加息历来会阻止投资者购买成长型股票，但苹果股票在很大程度上仍然具有弹性。</li><li>在对其现有产品的强劲需求以及 AR/VR 和自动驾驶汽车等新兴技术带来的新机遇的支持下，苹果预计将在未来实现额外的上涨空间。</li><li>其强劲的净现金状况也提供了足够的干粉来为未来几年的额外增长提供资金，而不会在利率上升的情况下产生额外的资本成本。</li><li>因此，尽管未来存在更广泛的市场估值风险，但苹果的看涨论点在其估值接近 3 万亿美元时仍然完好无损。</li></ul><p class=\"t-img-caption\"><span>guvendemir/iStock 未通过 Getty Images 发布</span></p></blockquote></p><p> As one of the world’s best performing stocks, Apple(NASDAQ:AAPL)&nbsp;has gained close to 40% this year. The stock, which last peaked at $182.13 not too long ago, is currently less than 7% from being the first U.S. publicly listed company to reach a $3 trillion market value and single-handedly accounts for about 15% of the tech-heavy Nasdaq 100’s performance. Apple’s market value has grown by&nbsp;more than 220x&nbsp;since the late 1990s, buoyed by the company’s continuous ability to capture robust demand for its innovative portfolio of products and services.</p><p><blockquote>作为全球表现最好的股票之一，苹果（纳斯达克股票代码：AAPL）今年上涨了近 40%。该股不久前曾触及 182.13 美元的最高点，目前距离成为第一家市值达到 3 万亿美元的美国上市公司还不到 7%，单枪匹马就占据了以科技股为主的纳斯达克 100 指数业绩的约 15%。自 20 世纪 90 年代末以来，苹果的市值增长了 220 多倍，这得益于该公司持续能够抓住对其创新产品和服务组合的强劲需求。</blockquote></p><p> And Apple’s strong fundamentals are expected to help the stock defy adverse impacts from the imminent rate hikes beginning next year. With inflation running at its hottest in almost four decades, the Federal Reserve decided Wednesday that it will increase the pace at which it is dialing back on the $120 billion monthly bond repurchasing program from $15 billion per month, which began in November, to&nbsp;$30 billion per month. This would effectively conclude the stimulus program, put in place at the onset of the pandemic, coming March, rather than in&nbsp;July as initially planned. Rate hikes are expected to begin soon after to counter rising price pressures, with Federal Reserve Chair Jerome Powell affirming that the process will only begin after tapering ends and at a gradual pace. The latest dot plot indicates potential for the Federal Fund Rate to lift-off from near-zero beginning early 2022 with three quarter-point increases, plus another three in 2023 and two more in 2024. If materialized, the process would up the funds rate to 2.1% by 2024.</p><p><blockquote>苹果强劲的基本面有望帮助该股抵御明年开始即将加息带来的不利影响。随着通胀达到近四十年来的最高点，美联储周三决定加快每月 1200 亿美元债券回购计划的步伐，从 11 月开始的每月 150 亿美元降至每月 300 亿美元。这将有效地结束疫情爆发时实施的刺激计划，即明年3月，而不是最初计划的7月。加息预计将很快开始，以应对不断上升的价格压力，美联储主席杰罗姆·鲍威尔确认，这一过程只有在缩减规模结束后才会开始，并且步伐渐进。最新的点阵图表明，联邦基金利率有可能从 2022 年初的接近于零的水平上升，并上调三个四分之一点，2023 年再上调三个四分之一点，2024 年再上调两个。如果实现，到 2024 年，这一过程将把基金利率提高到 2.1%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2ef3ca2d04c1b55a465e12bfae79890e\" tg-width=\"640\" tg-height=\"315\" width=\"100%\" height=\"auto\"><span>Source: Bloomberg</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：彭博社</span></p></blockquote></p><p> While rate hikes typically cause investors to turn risk averse due to concerns over&nbsp;faster erosion of value on future gains&nbsp;and stalled business growth due to rising costs of capital, especially for high-growth stocks, Apple gained close to 3% upon release of the Fed’s update on policy tightening. The stock closed at $179.30 on December 15th, nearing its peak of $182 on Monday. Apple’s rally, along with similar uptrends observed across other mega-cap tech stocks, accordingly drove intra-day gains of 2.4% for the Nasdaq 100 following the Federal Reserve’s update, indicating investors’ preference to park their money in companies with robust growth prospects to counter risks from the impending rate increases.</p><p><blockquote>虽然加息通常会导致投资者规避风险，因为他们担心未来收益的价值会更快地受到侵蚀，而且由于资本成本上升（尤其是高增长股票）导致业务增长停滞，但在美联储发布紧缩政策的最新消息后，苹果股市上涨了近3%。该股12月15日收于179.30美元，接近周一182美元的峰值。在美联储发布最新消息后，苹果的反弹以及其他大型科技股的类似上升趋势相应地推动了纳斯达克 100 指数盘中上涨 2.4%，这表明投资者更倾向于将资金投入增长前景强劲的公司，以应对即将加息带来的风险。</blockquote></p><p> With the coming holiday season a boon for Apple’s December-quarter sales, the stock’s valuation is expected to enter in the $3 trillion territory sooner than expected. Continued robust demand observed across Apple’s entire product line, generous share buy-backs, and additional revenue contributions expected within the foreseeable future resulting from new, cutting-edge products will also be key catalysts to support the company’s persistently strong fundamentals and keep the stock’s valuation above $3 trillion despite the impending rate hikes. Considering recent developments to the broader market and Apple’s growth prospects, we are raising our 12-month price target for the stock to $209.43.</p><p><blockquote>随着即将到来的假日季对苹果 12 月季度的销售额有利，该股估值预计将比预期更早进入 3 万亿美元大关。苹果整个产品线的持续强劲需求、慷慨的股票回购，以及预计在可预见的未来，新的尖端产品将带来额外的收入贡献，也将成为支撑公司持续强劲基本面的关键催化剂，并在即将加息的情况下将使股票估值保持在 3 万亿美元以上。考虑到大盘的近期发展和苹果的增长前景，我们将该股的 12 个月目标价上调至 209.43 美元。</blockquote></p><p> <b>FY 2021 Overview and Recap of Fundamental Prospects</b></p><p><blockquote><b>2021财年概述及基本前景回顾</b></blockquote></p><p></p><p> Fiscal 2021 was a big year for Apple. The company’s revenues for the year grew 33% from fiscal 2020 to $366 billion, despite on-and-off store closures resulting from recurring coronavirus outbreaks and supply chain constraints that have led to more than $9 billion in lost sales. Every product and service segment achieved record-setting revenues with more than 20% growth from previous year results. Much of the year’s success were attributable to a series of new product launches and feature upgrades. The most notable of which included the 5G-enabled family of iPhone 12s and iPhone 13s, as well as the M1-powered MacBook Pro and iPad Pro.</p><p><blockquote>2021财年对苹果来说是重要的一年。尽管冠状病毒反复爆发和供应链限制导致门店断断续续关闭，导致销售额损失超过 90 亿美元，但该公司全年的收入比 2020 财年增长了 33%，达到 3660 亿美元。每个产品和服务部门都实现了创纪录的收入，比上一年的业绩增长了20%以上。今年的成功很大程度上归功于一系列新产品的发布和功能的升级。其中最引人注目的包括支持5G的iPhone 12s和iPhone 13s系列，以及支持M1的MacBook Pro和iPad Pro。</blockquote></p><p> <b>Key Developments in Products</b></p><p><blockquote><b>产品的主要发展</b></blockquote></p><p> iPhone sales grew by 39% this year, the most amongst other segments, and drove more than half of Apple’s fiscal 2021 revenues. The results were a stark contrast to last year’s slump in demand for the mobile device when consumers braced for pandemic-driven economic uncertainties. iPhone sales are expected to remain robust in coming years as global 5G device upgrades continue to gather pace. The likely launch of a more affordable 5G-enabled iPhone SE in 2022 is also expected to further Apple’s market share gains by&nbsp;attracting switchers&nbsp;from “more than a billion non-premium Android users”, and drive the active installed base to another all-time high. The anticipated momentum is further corroborated by iPhone sales patterns observed in recent quarters following the launch of 5G-enabled iPhone 12s and iPhone 13s, where the number of upgraders and switchers grew by&nbsp;strong double digits. Apple’s strong ties with cell-phone carriers is also expected to drive meaningful iPhone sales contributions in coming years. Reputable wireless carriers in the U.S. like&nbsp;Verizon&nbsp;and&nbsp;AT&amp;T&nbsp;have already been keen on promoting the sale of 5G-enabled devices like the iPhone 12 and iPhone 13 to encourage migration to the 5G network that they have spent billions of dollars on building across the nation. Telecom companies around the world are expected to spend&nbsp;more than $700 billion&nbsp;over the next five years on building-out the 5G network, underscoring significant additional growth opportunities ahead for the iPhone segment as carriers push for the strongest multiyear upgrade cycle in a decade to recoup their investments.</p><p><blockquote>iPhone 今年的销量增长了 39%，是其他细分市场中增长最快的，并贡献了苹果 2021 财年一半以上的收入。这一结果与去年移动设备需求的下滑形成了鲜明对比，当时消费者正在为大流行病带来的经济不确定性做好准备。随着全球5G设备升级步伐不断加快，iPhone销售预计将在未来几年保持强劲。2022 年可能会推出更实惠的支持 5G 的 iPhone SE，这也将吸引 “超过 10 亿非高端安卓用户 ”的转换用户，从而进一步扩大苹果的市场份额，并将活跃安装基数推向历史新高。在支持 5G 的 iPhone 12s 和 iPhone 13s 推出后，最近几个季度观察到的 iPhone 销售模式进一步证实了预期的势头，升级和切换用户的数量强劲增长了两位数。苹果与手机运营商的紧密联系预计也将在未来几年推动 iPhone 的销售贡献。威瑞森和美国电话电报公司等美国知名无线运营商已经热衷于促进iPhone 12和iPhone 13等支持5G的设备的销售，以鼓励向他们花费数十亿美元在全国范围内建设的5G网络迁移。预计全球电信公司将在未来五年内花费超过7000亿美元建设5G网络，这凸显了随着运营商推动十年来最强劲的多年升级周期以收回投资，iPhone领域未来的巨大增长机会。</blockquote></p><p> Mac and iPad sales also grew significantly in fiscal 2021, reaching record revenues of $35.2 billion and $31.9 billion, respectively. Following the introduction of the&nbsp;all-new M1-powered iMac&nbsp;earlier this year, Apple also unveiled the&nbsp;reimagined M1-Pro / M1-Max powered MacBook Pro&nbsp;in October. The custom M1 processors made the newest MacBook “better than any Intel-based device for nearly every productivity use case outside of gaming”. This accordingly drove incredible demand for the portable workstation from a diverse group of consumers, ranging from professional creators and photographers to corporate users and students. The company is estimated to have shipped&nbsp;over 3.2 million units&nbsp;of Mac products during the September quarter, which drove record-setting revenues for the segment, while boosting its rank in global PC sales to fourth place amongst other vendors. The introduction of M1-processors in Apple’s computing products also bolstered its position in capitalizing on the surge in global demand for PCs and multi-purpose tablets by allowing the company to build devices with innovative features that can be seamlessly integrated across its ecosystem of peripheral accessories and services to draw adjacent revenues. With accelerated adoption of hybrid work and study arrangements in the post-pandemic era, global demand for portable workstations like PCs and multi-purpose tablets are expected to remain elevated in coming years – the sectors are expected to grow into a&nbsp;$224.3 billion&nbsp;and$600 billion&nbsp;market, respectively, by 2025, which makes favorable trends for Apple’s Mac and iPad segments.</p><p><blockquote>Mac 和 iPad 销量在 2021 财年也大幅增长，收入分别达到创纪录的 352 亿美元和 319 亿美元。继今年早些时候推出全新M1驱动的iMac后，苹果还在10月份推出了重新设计的M1-Pro/M1-Max驱动的MacBook Pro。定制的 M1 处理器使最新的 MacBook “在游戏以外的几乎所有生产力用例上都优于任何基于英特尔的设备”。这相应地推动了不同消费者群体对便携式工作站的巨大需求，从专业创作者和摄影师到企业用户和学生。据估计，该公司在 9 月份季度的 Mac 产品出货量超过 320 万台，推动了该部门创纪录的收入，同时将其在全球 PC 销量中的排名提升至其他供应商的第四位。在苹果的计算产品中引入 M1 处理器也巩固了其在利用全球对 PC 和多功能平板电脑需求激增的优势方面的地位，使该公司能够制造具有创新功能的设备，这些设备可以在其外围配件和服务生态系统中无缝集成，从而吸引相关收入。随着后大流行病时代混合工作和学习安排的加速采用，预计未来几年全球对个人电脑和多功能平板电脑等便携式工作站的需求将保持高位--到 2025 年，这两个行业的市场预计将分别增长到 2,243 亿美元和 6,000 亿美元，这将为苹果的 Mac 和 iPad 细分市场带来有利趋势。</blockquote></p><p> Recent speculations on Apple’s intentions to&nbsp;strengthen its in-house chip development capacity&nbsp;will likely further the advancement of its technologies offered in coming years and draw additional demand to its products. The company is currently looking for engineers to build-out its capacity in the development of “wireless radios, radio-frequency integrated circuits, and a wireless system-on-chip (“SoC”)”, as well as “semiconductors for connecting Bluetooth and Wi-Fi”. These developments are expected to further enhance seamless integration across Apple’s devices and increase stickiness to its ecosystem of product and service offerings, making its chip unit one of the company’s “most prized assets”.</p><p><blockquote>最近有猜测称，苹果有意加强其内部芯片开发能力，这可能会在未来几年进一步推动其技术的进步，并吸引对其产品的更多需求。该公司目前正在寻找工程师，以增强其在 “无线收音机、射频集成电路和无线片上系统（“SoC”）”以及 “用于连接蓝牙和 Wi-Fi 的半导体”方面的开发能力。这些发展有望进一步增强苹果设备之间的无缝集成，并增加其产品和服务生态系统的粘性，使其芯片部门成为公司 “最宝贵的资产 ”之一。</blockquote></p><p> <b>Key Developments in Services</b></p><p><blockquote><b>服务的主要发展</b></blockquote></p><p></p><p> On the services front, a strong subscriber base had enabled the segment to hit record-setting revenues of more than $68.4 billion in fiscal 2021, up 27% from the prior year. To date, Apple has garnered more than 745 million paid subscribers across its high-margin service offerings, representing a five-fold increase over the last five years. Apple’s increasing push for a subscription-based business model across its wide variety of service platforms, ranging from Apple Music to iCloud storage solutions, paired with attractive new offerings that address key consumer trends in recent years have been a key driver to the company’s fast-expanding margins. New exciting add-on features introduced for existing service platforms include&nbsp;Spatial Audio and Lossless Audiofor Apple Music and the&nbsp;Apple Music Voice Plan. The new subscription-based offerings are expected to further Apple’s reach to adjacent opportunities stemming from increasing global usage of smartphones, laptops and other advanced home electronic products – for instance, the global music streaming market is expected to expand at a CAGR of 16% towards a&nbsp;projected value of $61 billion&nbsp;over the next five years, underscoring significant growth headroom for Apple Music. And Apple’s latest introduction of the&nbsp;Apple One bundle&nbsp;is expected to be a key contributor to furthering service segment sales in coming years by attracting new users to pay for subscription services that they otherwise would not have had it not been for the bundle discounts.</p><p><blockquote>在服务方面，强大的用户群使该部门在 2021 财年的收入创下了超过 684 亿美元的纪录，比上一年增长了 27%。迄今为止，苹果通过其高利润服务产品获得了超过 7.45 亿付费用户，比过去五年增长了五倍。苹果在其从苹果音乐到 iCloud 存储解决方案等各种服务平台上不断推行基于订阅的商业模式，再加上近年来针对主要消费趋势的有吸引力的新产品，一直是该公司利润率快速增长的关键驱动力。为现有服务平台引入的令人兴奋的新附加功能包括苹果音乐的空间音频和无损音频以及苹果音乐语音计划。新的基于订阅的产品有望进一步扩大苹果对智能手机、笔记本电脑和其他先进家用电子产品全球使用量不断增加所带来的邻近机遇的影响力--例如，全球音乐流媒体市场预计将在未来五年内以 16% 的复合年增长率扩大，预计价值将达到 610 亿美元，这凸显了苹果音乐的巨大增长空间。苹果最新推出的苹果 One 捆绑包预计将在未来几年吸引新用户为订阅服务付费，而如果不是捆绑包折扣，他们是不会购买这些服务的。</blockquote></p><p> Continued growth in market demand for mobile applications will also be a boon to Apple’s fast-growing services segment. The global market for mobile applications is expected to grow at a CAGR of 18.4% and reach a market value of&nbsp;more than $400 billion&nbsp;over the next five years. With AAPL hosting&nbsp;one of the largest and most used app stores&nbsp;in the world, it would be reasonable to assume that related revenues would grow at a similar pace. Despite&nbsp;mounting global regulatory scrutiny&nbsp;over Apple’s alleged antitrust violations with its App Store – the most notable of which stemming from an ongoing&nbsp;legal battle with Epic Games– the company’s continued focus on ensuring user privacy, security, and ease of transactions might have saved the day. According to a survey of 4,000 Apple product users performed by Morgan Stanley across the U.S. and China, most have indicated loyalty to Apple’s App store due to the “value of security, privacy and ease of transactions” provided, despite developers pushing for rights to transact outside of Apple’s ecosystem. Apple’s recent success in&nbsp;delaying App Store changes&nbsp;ordered by U.S. District Judge Yvonne Gonzalez Rogers in&nbsp;September&nbsp;as part of a year-long lawsuit brought against by Epic Games is another sign of the App Store’s continued strength. The company has argued that the court-mandated order to allow App Store users to “buy directly from developers on the web” would be a threat to the security of their privacy.</p><p><blockquote>移动应用市场需求的持续增长也将有利于苹果快速增长的服务部门。全球移动应用市场预计将以18.4%的CAGR增长，未来五年市值将超过4000亿美元。由于 AAPL 拥有世界上最大、使用最广泛的应用商店之一，因此可以合理地假设相关收入将以类似的速度增长。尽管全球监管机构对苹果的 App Store 涉嫌违反反垄断规定的审查越来越多--其中最引人注目的是与 Epic Games 正在进行的法律诉讼--但该公司继续专注于确保用户隐私、安全和交易便利性可能已经挽救了局面。根据摩根士丹利在美国和中国大陆对 4000 名苹果产品用户进行的调查，大多数人对苹果的应用商店表示忠诚，因为该商店提供了 “安全、隐私和易于交易的价值”，尽管开发者正在推动在苹果生态系统之外进行交易。苹果最近成功推迟了美国地区法官伊冯娜-冈萨雷斯-罗杰斯（Yvonne Gonzalez Rogers）9 月份下令对 App Store 进行的更改，这是 Epic Games 对其提起长达一年的诉讼的一部分，这也是 App Store 持续强大的又一迹象。该公司辩称，法院下令允许 App Store 用户 “直接从网络上的开发者那里购买 ”，这将对他们的隐私安全构成威胁。</blockquote></p><p> Currently, developers are fighting for their rights to have app users transact outside of Apple’s ecosystem, which charges developers a hefty commission fee of up to 30% on all purchases. As Apple continues with its appeal of the ruling, the ultimate court decision on whether App Store changes would need to be implemented could take at least another year. But even with an unfavorable ruling, where Apple would have to allow developers to redirect users to payments outside of its ecosystem and/or lower its in-app purchase commission rate, App Store revenues are only expected to decrease by&nbsp;at most $4 billion per year&nbsp;which will not place a material impact on its valuation prospects. The actual quantified impact might even be less than what the market has forecasted, considering the value that App Store users have ascribed to the level of security and convenience that Apple has offered through the platform.</p><p><blockquote>目前，开发者正在争取让应用程序用户在苹果生态系统之外进行交易的权利，该生态系统向开发者收取高达 30% 的高额佣金。随着苹果继续对该裁决提出上诉，法院关于是否需要实施 App Store 变更的最终裁决可能至少还需要一年时间。但即使做出不利的裁决，苹果将不得不允许开发者将用户重定向到其生态系统之外的支付和/或降低其应用内购买佣金率，App Store的收入预计每年最多也只会减少40亿美元，这不会对其估值前景产生重大影响。考虑到 App Store 用户对苹果通过该平台提供的安全性和便利性水平的重视，实际量化影响甚至可能低于市场预测。</blockquote></p><p> <b>Key Catalysts Ahead</b></p><p><blockquote><b>未来的关键催化剂</b></blockquote></p><p></p><p> Apple is undoubtedly a key gateway to bringing emerging technologies to the mainstream due to its massive installed base of devices and related service platform users. And because of this, the highly anticipated launch of cutting-edge products like AR/VR headsets and autonomous vehicles in coming years will likely catapult the stock to new heights. The pioneer of disruptive consumer electronics and devices is expected to launch a&nbsp;VR headset and AR glasses&nbsp;by early 2023, a nascent technology that has been picking up steam in recent months with increasing talks of the metaverse. Similar to most VR headsets already available in the market, Apple’s will feature a 3D display to enable an immersive environment for a variety of activities from gaming to communicating. The differentiating factor will be the company’s plans to implement best-in-class graphics chips in the device to facilitate ultra-high-resolution displays. The impending VR headset will ultimately lay the foundation for its AR glasses, which Apple expects to be the “larger opportunity”.</p><p><blockquote>由于其庞大的设备安装基数和相关服务平台用户，苹果无疑是将新兴技术带入主流的关键门户。正因为如此，未来几年备受期待的AR/VR耳机和自动驾驶汽车等尖端产品的推出可能会将该股推向新的高度。这家颠覆性消费电子产品和设备的先驱预计将于 2023 年初推出 VR 耳机和 AR 眼镜，这项新兴技术近几个月来随着有关元宇宙的讨论越来越多，势头强劲。与市场上已有的大多数 VR 头显类似，苹果的 VR 头显将采用 3D 显示屏，为从游戏到交流等各种活动提供身临其境的环境。该公司计划在设备中采用一流的图形芯片，以实现超高分辨率显示屏。即将推出的 VR 头显最终将为其 AR 眼镜奠定基础，苹果预计这将是 “更大的机会”。</blockquote></p><p> Over the next five years, opportunities pertaining to the metaverse are expected to blossom into an&nbsp;$800 billion market. Related software and service sales are expected to drive more than 70% of the projected addressable market, while the remainder will likely be driven by hardware sales. This makes strong tailwinds for Apple, which does not only stand to capitalize on growing metaverse opportunities through the sale of its impending AR/VR headset, but also adjacent revenues pertaining to the usage of related apps, software and service platforms.</p><p><blockquote>未来五年，与元宇宙相关的机会预计将发展成为一个价值 8000 亿美元的市场。相关软件和服务销售预计将推动预计潜在市场的 70% 以上，而其余部分可能由硬件销售推动。这为苹果带来了强劲的推动力，该公司不仅可以通过销售即将推出的 AR/VR 耳机来利用不断增长的元宇宙机会，还可以利用与使用相关应用程序、软件和服务平台相关的相关收入。</blockquote></p><p> Speculations on Apple’s ongoing development of&nbsp;a self-driving electric car&nbsp;is also expected to materialize into meaningful upsides for the stock within the foreseeable future. The company is now planning to launch the new product category by 2025, at which time the global autonomous vehicle market is expected to reach a value of&nbsp;more than $200 billion. The eventual car will likely feature homages to its existing product portfolio, like an “iPad-like touch screen” infotainment system. And on the technology front, Apple is believed to have completed the development of a custom silicon for powering the vehicle’s autonomous driving capabilities. The newest chips will soon be implemented into its existing fleet of retrofitted SUVs for testing in California according to the state’s DMV, a sign that the impending launch is near.</p><p><blockquote>在可预见的未来，关于苹果正在开发自动驾驶电动汽车的猜测也有望为该股带来有意义的上涨空间。该公司目前计划在2025年前推出新产品类别，届时全球自动驾驶汽车市场价值预计将超过2000亿美元。最终推出的汽车很可能会向其现有的产品组合致敬，比如 “类似 iPad 的触摸屏 ”信息娱乐系统。在技术方面，据信苹果已经完成了为汽车自动驾驶功能提供动力的定制硅的开发。据加州车管所称，最新芯片将很快应用于其现有的改装 SUV 车队，以便在加州进行测试，这表明即将推出的芯片即将到来。</blockquote></p><p> While Apple’s current market value may already be reflective of “consistent material revenue contributions from new products and services over time”, additional upsides from the above-mentioned new product category launches are still missing. But this will likely change within the next 12 months as the impending launch of an Apple AR/VR device draws near. Near-term projections on early AR/VR device sales are expected to boost Apple’s valuation by&nbsp;at least $150 billion. And over time when metaverse trends continue to gain mainstream traction, Apple is expected to generate more than $200 billion in annual revenues from the AR/VR segment, which could add another 15% on top of its current market value.</p><p><blockquote>虽然苹果目前的市值可能已经反映了 “随着时间的推移，新产品和服务对收入的持续贡献”，但上述新产品类别的推出仍未带来额外的好处。但随着苹果AR/VR设备即将推出，这种情况可能会在未来12个月内发生变化。对早期 AR/VR 设备销售的近期预测预计将使苹果的估值至少提高 1500 亿美元。随着时间的推移，随着元宇宙趋势继续获得主流牵引力，苹果预计将从 AR/VR 领域产生超过 2000 亿美元的年收入，这可能会在其当前市值的基础上再增加 15%。</blockquote></p><p> <b>Valuation Prospects and Potential Impacts from the Impending Rate Increases</b></p><p><blockquote><b>即将加息的估值前景和潜在影响</b></blockquote></p><p> Adjusting our most recent forecast for Apple’s fiscal 2021 year-end results and December-quarter guidance, our base case projection estimates total net sales of $439.3 billion by the end of fiscal 2022, with further growth towards $668.5 billion by fiscal 2026. The growth assumptions applied across segment revenues in our forecast remains largely unchanged from our&nbsp;most recent analysis&nbsp;on the stock, with additional consideration for management’s near-term outlook on supply constraint impacts and the impending rate hikes. Specifically, lost revenues of $9 billion (i.e. approximately $3 billion during June-quarter and $6 billion during September-quarter) attributable to industry-wide chip shortages and pandemic-driven manufacturing delays during the second half of fiscal 2021 is expected to worsen into the first half of fiscal 2022. While there have been observed improvements to supply chain challenges, continuously robust demand for Apple products is what will drive a higher volume of lost sales in coming quarters. Nonetheless, Apple remains well-positioned for strong fundamentals ahead, which will help to alleviate some of investors’ concerns on valuation due to impending rate hikes.</p><p><blockquote>调整我们对苹果 2021 财年年终业绩和 12 月份季度指引的最新预测后，我们的基本案例预测预计到 2022 财年末，净销售总额将达到 4393 亿美元，到 2026 财年将进一步增长至 6685 亿美元。在我们的预测中，各部门收入的增长假设与我们最近对该股的分析基本保持不变，但还额外考虑了管理层对供应紧张影响和即将加息的近期展望。具体来说，2021 财年下半年全行业芯片短缺和大流行导致的制造延误造成的 90 亿美元收入损失（即 6 月份季度约 30 亿美元，9 月份季度约 60 亿美元）预计将恶化到 2022 财年上半年。虽然供应链挑战有所改善，但对苹果产品的持续强劲需求将推动未来几个季度销售额的增加。尽管如此，苹果未来的基本面依然强劲，这将有助于缓解投资者因即将加息而对估值的一些担忧。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b5aa95136cfca6f95b962ea36eadab74\" tg-width=\"640\" tg-height=\"257\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <i>i. Base Case Financial Projections:</i></p><p><blockquote><i>i. 基本情况财务预测：</i></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6585b165abd25fab7d171dd944d05156\" tg-width=\"640\" tg-height=\"316\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal financial forecast (Apple_-_Forecasted_Financial_Information.pdf). Please refer here for further detail on material growth assumptions applied.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部财务预测（Apple_-_Forecasted_Financial_Information.pdf）。有关应用的重大增长假设的进一步详情，请参阅此处。</span></p></blockquote></p><p> Drawing on the above considerations, our 12-month price target for the Apple stock has been revised to $209.43. This represents upside potential of more than 22% based on the last traded price of $171.14 on December 17th.</p><p><blockquote>基于上述考虑，我们对苹果股票的 12 个月目标价已修正至 209.43 美元。根据 12 月 17 日最后交易价格 171.14 美元计算，这意味着超过 22% 的上涨潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e88e904b5b900fbcdf4541d856570e2d\" tg-width=\"640\" tg-height=\"230\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal valuation analysis.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部估值分析。</span></p></blockquote></p><p> The revised price target is derived using a discounted cash flow (“DCF”) analysis over a ten-year discrete period in conjunction with the financial projections updated for Apple’s recent developments as analyzed in earlier sections. Similar to our original valuation analysis, we have applied a WACC of 8% to discount Apple’s projected free cash flows. The discount function is reflective of the company’s risk profile, taking into consideration its current capital structure and strong balance sheet. Apple’s cost of capital for growth is not expected to change significantly as a result of the impending rate hikes, considering a large portion of its existing debt are fixed-rate notes. The company also boasts a consistently robust net cash position, in which management intends to deploy towards additional growth without having to incur incremental capital costs ahead of interest rate increases. This is expected to further cement investors’ confidence in the Apple stock, as they continue their “flight to quality” amidst fear of broader market pressure from rising interest rates.</p><p><blockquote>修订后的价格目标是使用十年离散期间的贴现现金流（“DCF”）分析，结合前面章节分析的苹果近期发展的最新财务预测得出的。与我们最初的估值分析类似，我们采用了 8% 的 WACC 来贴现苹果的预计自由现金流。考虑到公司目前的资本结构和稳健的资产负债表，贴现函数反映了公司的风险状况。考虑到苹果现有债务中有很大一部分是固定利率票据，预计其增长的资本成本不会因即将加息而发生重大变化。该公司还拥有持续强劲的净现金状况，管理层打算在利率上升之前部署额外增长，而不必承担额外的资本成本。预计这将进一步增强水泥投资者对苹果股票的信心，因为他们在担心利率上升会带来更广泛的市场压力的情况下，继续 “向优质方向飞奔”。</blockquote></p><p> The valuation analysis also assumes an exit multiple of 19.8x, which is consistent with current market expectations on Apple’s growth trajectory over the forecasted period. The applied exit multiple assumption could even improve further within the next 12 months, considering the impending launch of new product segments like AR/VR devices and autonomous vehicles, and offset any potential impacts from the upcoming increases to interest rates.</p><p><blockquote>估值分析还假设退出倍数为 19.8 倍，这与当前市场对苹果在预测期内增长轨迹的预期一致。考虑到AR/VR设备和自动驾驶汽车等新产品细分市场即将推出，所应用的退出倍数假设甚至可能在未来12个月内进一步改善，并抵消即将到来的加息带来的任何潜在影响。</blockquote></p><p> <i>i. Base Case Valuation Analysis:</i></p><p><blockquote><i>一、基本案例估值分析：</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/81f992ef8b2b59ea879f69a7b1e7ad52\" tg-width=\"640\" tg-height=\"300\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <i>ii. Sensitivity Analysis:</i></p><p><blockquote><i>ii.敏感性分析：</i></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da8b21dae04fd263929ab26bd8d83907\" tg-width=\"640\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Author, with data from our internal valuation analysis.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部估值分析。</span></p></blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Based on the foregoing analysis, the anticipated addition of 175 to 200 basis points to the current near-zero Federal Fund Rate over the next two years is not expected to cause material adverse impacts to Apple’s performance from both a fundamental and valuation perspective. Robust global demand for Apple products and services, paired with new innovations are expected to further bolster the company’s fundamental growth prospects. This would accordingly bring additional improvements to Apple’s balance sheet, and further strengthen its position against downward valuation pressures from broader macro headwinds. In fact, increasing demand for quality growth stocks to counter risks resulting from the impending rate hikes might even fuel Apple’s valuation growth momentum. On these considerations, Apple remains one of the best-performing tech stocks to own given its robust uptrend to $3 trillion in the near-term despite impending rate hikes.</p><p><blockquote>根据上述分析，从基本面和估值角度来看，预计未来两年在目前接近于零的联邦基金利率基础上增加 175 至 200 个基点，预计不会对苹果的业绩造成重大不利影响。全球对苹果产品和服务的强劲需求，加上新的创新，预计将进一步提振公司的基本增长前景。因此，这将进一步改善苹果的资产负债表，并进一步加强其抵御更广泛宏观逆风带来的估值下行压力的地位。事实上，为应对即将加息带来的风险，对优质成长型股票的需求不断增加，甚至可能推动苹果的估值增长势头。出于这些考虑，尽管即将加息，但苹果仍然是表现最好的科技股之一，因为其近期仍呈现强劲上升趋势，达到 3 万亿美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4475887-apple-stock-aapl-strongest-shield-against-rate-hikes\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4475887-apple-stock-aapl-strongest-shield-against-rate-hikes","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183475424","content_text":"Summary\n\nWith inflation running its hottest course in 40 years, the Federal Reserve has decided to accelerate the stimulus tapering schedule and prepare for raising interest rates as early as March.\nWhile rate hikes have historically deterred investors from growth stocks due to concerns over eroding valuation prospects, the Apple stock has remained largely resilient.\nApple is expected to realize additional upsides ahead, sustained by robust demand for its existing offerings and new opportunities arising from nascent technologies like AR/VR and autonomous vehicles.\nIts strong net cash position also provides sufficient dry powder to fund additional growth in coming years without incurring additional costs of capital amidst rising interest rates.\nAs such, Apple's bullish thesis remains intact as it approaches a $3 trillion valuation, despite broader market valuation risks ahead.\n\nguvendemir/iStock Unreleased via Getty Images\nAs one of the world’s best performing stocks, Apple(NASDAQ:AAPL) has gained close to 40% this year. The stock, which last peaked at $182.13 not too long ago, is currently less than 7% from being the first U.S. publicly listed company to reach a $3 trillion market value and single-handedly accounts for about 15% of the tech-heavy Nasdaq 100’s performance. Apple’s market value has grown by more than 220x since the late 1990s, buoyed by the company’s continuous ability to capture robust demand for its innovative portfolio of products and services.\nAnd Apple’s strong fundamentals are expected to help the stock defy adverse impacts from the imminent rate hikes beginning next year. With inflation running at its hottest in almost four decades, the Federal Reserve decided Wednesday that it will increase the pace at which it is dialing back on the $120 billion monthly bond repurchasing program from $15 billion per month, which began in November, to $30 billion per month. This would effectively conclude the stimulus program, put in place at the onset of the pandemic, coming March, rather than in July as initially planned. Rate hikes are expected to begin soon after to counter rising price pressures, with Federal Reserve Chair Jerome Powell affirming that the process will only begin after tapering ends and at a gradual pace. The latest dot plot indicates potential for the Federal Fund Rate to lift-off from near-zero beginning early 2022 with three quarter-point increases, plus another three in 2023 and two more in 2024. If materialized, the process would up the funds rate to 2.1% by 2024.\nSource: Bloomberg\nWhile rate hikes typically cause investors to turn risk averse due to concerns over faster erosion of value on future gains and stalled business growth due to rising costs of capital, especially for high-growth stocks, Apple gained close to 3% upon release of the Fed’s update on policy tightening. The stock closed at $179.30 on December 15th, nearing its peak of $182 on Monday. Apple’s rally, along with similar uptrends observed across other mega-cap tech stocks, accordingly drove intra-day gains of 2.4% for the Nasdaq 100 following the Federal Reserve’s update, indicating investors’ preference to park their money in companies with robust growth prospects to counter risks from the impending rate increases.\nWith the coming holiday season a boon for Apple’s December-quarter sales, the stock’s valuation is expected to enter in the $3 trillion territory sooner than expected. Continued robust demand observed across Apple’s entire product line, generous share buy-backs, and additional revenue contributions expected within the foreseeable future resulting from new, cutting-edge products will also be key catalysts to support the company’s persistently strong fundamentals and keep the stock’s valuation above $3 trillion despite the impending rate hikes. Considering recent developments to the broader market and Apple’s growth prospects, we are raising our 12-month price target for the stock to $209.43.\nFY 2021 Overview and Recap of Fundamental Prospects\nFiscal 2021 was a big year for Apple. The company’s revenues for the year grew 33% from fiscal 2020 to $366 billion, despite on-and-off store closures resulting from recurring coronavirus outbreaks and supply chain constraints that have led to more than $9 billion in lost sales. Every product and service segment achieved record-setting revenues with more than 20% growth from previous year results. Much of the year’s success were attributable to a series of new product launches and feature upgrades. The most notable of which included the 5G-enabled family of iPhone 12s and iPhone 13s, as well as the M1-powered MacBook Pro and iPad Pro.\nKey Developments in Products\niPhone sales grew by 39% this year, the most amongst other segments, and drove more than half of Apple’s fiscal 2021 revenues. The results were a stark contrast to last year’s slump in demand for the mobile device when consumers braced for pandemic-driven economic uncertainties. iPhone sales are expected to remain robust in coming years as global 5G device upgrades continue to gather pace. The likely launch of a more affordable 5G-enabled iPhone SE in 2022 is also expected to further Apple’s market share gains by attracting switchers from “more than a billion non-premium Android users”, and drive the active installed base to another all-time high. The anticipated momentum is further corroborated by iPhone sales patterns observed in recent quarters following the launch of 5G-enabled iPhone 12s and iPhone 13s, where the number of upgraders and switchers grew by strong double digits. Apple’s strong ties with cell-phone carriers is also expected to drive meaningful iPhone sales contributions in coming years. Reputable wireless carriers in the U.S. like Verizon and AT&T have already been keen on promoting the sale of 5G-enabled devices like the iPhone 12 and iPhone 13 to encourage migration to the 5G network that they have spent billions of dollars on building across the nation. Telecom companies around the world are expected to spend more than $700 billion over the next five years on building-out the 5G network, underscoring significant additional growth opportunities ahead for the iPhone segment as carriers push for the strongest multiyear upgrade cycle in a decade to recoup their investments.\nMac and iPad sales also grew significantly in fiscal 2021, reaching record revenues of $35.2 billion and $31.9 billion, respectively. Following the introduction of the all-new M1-powered iMac earlier this year, Apple also unveiled the reimagined M1-Pro / M1-Max powered MacBook Pro in October. The custom M1 processors made the newest MacBook “better than any Intel-based device for nearly every productivity use case outside of gaming”. This accordingly drove incredible demand for the portable workstation from a diverse group of consumers, ranging from professional creators and photographers to corporate users and students. The company is estimated to have shipped over 3.2 million units of Mac products during the September quarter, which drove record-setting revenues for the segment, while boosting its rank in global PC sales to fourth place amongst other vendors. The introduction of M1-processors in Apple’s computing products also bolstered its position in capitalizing on the surge in global demand for PCs and multi-purpose tablets by allowing the company to build devices with innovative features that can be seamlessly integrated across its ecosystem of peripheral accessories and services to draw adjacent revenues. With accelerated adoption of hybrid work and study arrangements in the post-pandemic era, global demand for portable workstations like PCs and multi-purpose tablets are expected to remain elevated in coming years – the sectors are expected to grow into a $224.3 billion and$600 billion market, respectively, by 2025, which makes favorable trends for Apple’s Mac and iPad segments.\nRecent speculations on Apple’s intentions to strengthen its in-house chip development capacity will likely further the advancement of its technologies offered in coming years and draw additional demand to its products. The company is currently looking for engineers to build-out its capacity in the development of “wireless radios, radio-frequency integrated circuits, and a wireless system-on-chip (“SoC”)”, as well as “semiconductors for connecting Bluetooth and Wi-Fi”. These developments are expected to further enhance seamless integration across Apple’s devices and increase stickiness to its ecosystem of product and service offerings, making its chip unit one of the company’s “most prized assets”.\nKey Developments in Services\nOn the services front, a strong subscriber base had enabled the segment to hit record-setting revenues of more than $68.4 billion in fiscal 2021, up 27% from the prior year. To date, Apple has garnered more than 745 million paid subscribers across its high-margin service offerings, representing a five-fold increase over the last five years. Apple’s increasing push for a subscription-based business model across its wide variety of service platforms, ranging from Apple Music to iCloud storage solutions, paired with attractive new offerings that address key consumer trends in recent years have been a key driver to the company’s fast-expanding margins. New exciting add-on features introduced for existing service platforms include Spatial Audio and Lossless Audiofor Apple Music and the Apple Music Voice Plan. The new subscription-based offerings are expected to further Apple’s reach to adjacent opportunities stemming from increasing global usage of smartphones, laptops and other advanced home electronic products – for instance, the global music streaming market is expected to expand at a CAGR of 16% towards a projected value of $61 billion over the next five years, underscoring significant growth headroom for Apple Music. And Apple’s latest introduction of the Apple One bundle is expected to be a key contributor to furthering service segment sales in coming years by attracting new users to pay for subscription services that they otherwise would not have had it not been for the bundle discounts.\nContinued growth in market demand for mobile applications will also be a boon to Apple’s fast-growing services segment. The global market for mobile applications is expected to grow at a CAGR of 18.4% and reach a market value of more than $400 billion over the next five years. With AAPL hosting one of the largest and most used app stores in the world, it would be reasonable to assume that related revenues would grow at a similar pace. Despite mounting global regulatory scrutiny over Apple’s alleged antitrust violations with its App Store – the most notable of which stemming from an ongoing legal battle with Epic Games– the company’s continued focus on ensuring user privacy, security, and ease of transactions might have saved the day. According to a survey of 4,000 Apple product users performed by Morgan Stanley across the U.S. and China, most have indicated loyalty to Apple’s App store due to the “value of security, privacy and ease of transactions” provided, despite developers pushing for rights to transact outside of Apple’s ecosystem. Apple’s recent success in delaying App Store changes ordered by U.S. District Judge Yvonne Gonzalez Rogers in September as part of a year-long lawsuit brought against by Epic Games is another sign of the App Store’s continued strength. The company has argued that the court-mandated order to allow App Store users to “buy directly from developers on the web” would be a threat to the security of their privacy.\nCurrently, developers are fighting for their rights to have app users transact outside of Apple’s ecosystem, which charges developers a hefty commission fee of up to 30% on all purchases. As Apple continues with its appeal of the ruling, the ultimate court decision on whether App Store changes would need to be implemented could take at least another year. But even with an unfavorable ruling, where Apple would have to allow developers to redirect users to payments outside of its ecosystem and/or lower its in-app purchase commission rate, App Store revenues are only expected to decrease by at most $4 billion per year which will not place a material impact on its valuation prospects. The actual quantified impact might even be less than what the market has forecasted, considering the value that App Store users have ascribed to the level of security and convenience that Apple has offered through the platform.\nKey Catalysts Ahead\nApple is undoubtedly a key gateway to bringing emerging technologies to the mainstream due to its massive installed base of devices and related service platform users. And because of this, the highly anticipated launch of cutting-edge products like AR/VR headsets and autonomous vehicles in coming years will likely catapult the stock to new heights. The pioneer of disruptive consumer electronics and devices is expected to launch a VR headset and AR glasses by early 2023, a nascent technology that has been picking up steam in recent months with increasing talks of the metaverse. Similar to most VR headsets already available in the market, Apple’s will feature a 3D display to enable an immersive environment for a variety of activities from gaming to communicating. The differentiating factor will be the company’s plans to implement best-in-class graphics chips in the device to facilitate ultra-high-resolution displays. The impending VR headset will ultimately lay the foundation for its AR glasses, which Apple expects to be the “larger opportunity”.\nOver the next five years, opportunities pertaining to the metaverse are expected to blossom into an $800 billion market. Related software and service sales are expected to drive more than 70% of the projected addressable market, while the remainder will likely be driven by hardware sales. This makes strong tailwinds for Apple, which does not only stand to capitalize on growing metaverse opportunities through the sale of its impending AR/VR headset, but also adjacent revenues pertaining to the usage of related apps, software and service platforms.\nSpeculations on Apple’s ongoing development of a self-driving electric car is also expected to materialize into meaningful upsides for the stock within the foreseeable future. The company is now planning to launch the new product category by 2025, at which time the global autonomous vehicle market is expected to reach a value of more than $200 billion. The eventual car will likely feature homages to its existing product portfolio, like an “iPad-like touch screen” infotainment system. And on the technology front, Apple is believed to have completed the development of a custom silicon for powering the vehicle’s autonomous driving capabilities. The newest chips will soon be implemented into its existing fleet of retrofitted SUVs for testing in California according to the state’s DMV, a sign that the impending launch is near.\nWhile Apple’s current market value may already be reflective of “consistent material revenue contributions from new products and services over time”, additional upsides from the above-mentioned new product category launches are still missing. But this will likely change within the next 12 months as the impending launch of an Apple AR/VR device draws near. Near-term projections on early AR/VR device sales are expected to boost Apple’s valuation by at least $150 billion. And over time when metaverse trends continue to gain mainstream traction, Apple is expected to generate more than $200 billion in annual revenues from the AR/VR segment, which could add another 15% on top of its current market value.\nValuation Prospects and Potential Impacts from the Impending Rate Increases\nAdjusting our most recent forecast for Apple’s fiscal 2021 year-end results and December-quarter guidance, our base case projection estimates total net sales of $439.3 billion by the end of fiscal 2022, with further growth towards $668.5 billion by fiscal 2026. The growth assumptions applied across segment revenues in our forecast remains largely unchanged from our most recent analysis on the stock, with additional consideration for management’s near-term outlook on supply constraint impacts and the impending rate hikes. Specifically, lost revenues of $9 billion (i.e. approximately $3 billion during June-quarter and $6 billion during September-quarter) attributable to industry-wide chip shortages and pandemic-driven manufacturing delays during the second half of fiscal 2021 is expected to worsen into the first half of fiscal 2022. While there have been observed improvements to supply chain challenges, continuously robust demand for Apple products is what will drive a higher volume of lost sales in coming quarters. Nonetheless, Apple remains well-positioned for strong fundamentals ahead, which will help to alleviate some of investors’ concerns on valuation due to impending rate hikes.\n\ni. Base Case Financial Projections:\nSource: Author, with data from our internal financial forecast (Apple_-_Forecasted_Financial_Information.pdf). Please refer here for further detail on material growth assumptions applied.\nDrawing on the above considerations, our 12-month price target for the Apple stock has been revised to $209.43. This represents upside potential of more than 22% based on the last traded price of $171.14 on December 17th.\nSource: Author, with data from our internal valuation analysis.\nThe revised price target is derived using a discounted cash flow (“DCF”) analysis over a ten-year discrete period in conjunction with the financial projections updated for Apple’s recent developments as analyzed in earlier sections. Similar to our original valuation analysis, we have applied a WACC of 8% to discount Apple’s projected free cash flows. The discount function is reflective of the company’s risk profile, taking into consideration its current capital structure and strong balance sheet. Apple’s cost of capital for growth is not expected to change significantly as a result of the impending rate hikes, considering a large portion of its existing debt are fixed-rate notes. The company also boasts a consistently robust net cash position, in which management intends to deploy towards additional growth without having to incur incremental capital costs ahead of interest rate increases. This is expected to further cement investors’ confidence in the Apple stock, as they continue their “flight to quality” amidst fear of broader market pressure from rising interest rates.\nThe valuation analysis also assumes an exit multiple of 19.8x, which is consistent with current market expectations on Apple’s growth trajectory over the forecasted period. The applied exit multiple assumption could even improve further within the next 12 months, considering the impending launch of new product segments like AR/VR devices and autonomous vehicles, and offset any potential impacts from the upcoming increases to interest rates.\ni. Base Case Valuation Analysis:\n\nii. Sensitivity Analysis:\nSource: Author, with data from our internal valuation analysis.\nConclusion\nBased on the foregoing analysis, the anticipated addition of 175 to 200 basis points to the current near-zero Federal Fund Rate over the next two years is not expected to cause material adverse impacts to Apple’s performance from both a fundamental and valuation perspective. Robust global demand for Apple products and services, paired with new innovations are expected to further bolster the company’s fundamental growth prospects. This would accordingly bring additional improvements to Apple’s balance sheet, and further strengthen its position against downward valuation pressures from broader macro headwinds. In fact, increasing demand for quality growth stocks to counter risks resulting from the impending rate hikes might even fuel Apple’s valuation growth momentum. On these considerations, Apple remains one of the best-performing tech stocks to own given its robust uptrend to $3 trillion in the near-term despite impending rate hikes.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":3220,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":870457751,"gmtCreate":1636643773715,"gmtModify":1636643775607,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>Hold!","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>Hold!","text":"$Palantir Technologies Inc.(PLTR)$Hold!","images":[{"img":"https://static.tigerbbs.com/c98d9a8f36ad979e9a8449b905766c92","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/870457751","isVote":1,"tweetType":1,"viewCount":1535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":698177354,"gmtCreate":1640328911379,"gmtModify":1640329331996,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"nice&nbsp;","listText":"nice&nbsp;","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698177354","repostId":"1117383431","repostType":4,"repost":{"id":"1117383431","kind":"news","pubTimestamp":1640317475,"share":"https://www.laohunote.com/m/news/1117383431?lang=zh_CN&edition=full","pubTime":"2021-12-24 11:44","market":"us","language":"en","title":"Here are Warren Buffett's 8 highlights of 2021<blockquote>以下是沃伦·巴菲特 2021 年的 8 个亮点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117383431","media":"Markets insider","summary":"Warren Buffett revealed 2 big bets, defended his tax habits, and admitted several mistakes this year","content":"<p>Warren Buffett revealed 2 big bets, defended his tax habits, and admitted several mistakes this year. Here are his 8 highlights of 2021.</p><p><blockquote>沃伦·巴菲特透露了两大赌注，为自己的纳税习惯辩护，并承认今年犯了几个错误。以下是他2021年的8个亮点。</blockquote></p><p> <ul>  <li>Warren Buffett revealed two big bets, admitted mistakes, and complained about speculators this year.</li>  <li>The Berkshire Hathaway chief defended his tax practices<b>&nbsp;and made a fortune on Apple.</b></li>  <li><b>Here are billionaire investor Buffett's eight highlights of 2021.</b></li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45e08085f6ee8a3866f2c0f78fdc0f63\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett.</span></p><p><blockquote><ul><li>沃伦·巴菲特透露了两个大赌注，承认了错误，并抱怨了今年的投机者。</li><li>伯克希尔哈撒韦公司总裁为自己的税务做法辩护<b>在苹果上发了财。</b></li><li><b>以下是亿万富翁投资者巴菲特 2021 年的八大亮点。</b></li></ul><p class=\"t-img-caption\"><span>沃伦·巴菲特。</span></p></blockquote></p><p> Warren Buffett revealed a couple of billion-dollar investments, owned up to making several mistakes, and bemoaned the rampant speculation in markets this year.</p><p><blockquote>沃伦·巴菲特透露了几笔数十亿美元的投资，承认犯了几个错误，并哀叹今年市场上猖獗的投机行为。</blockquote></p><p> The renowned investor and Berkshire Hathaway CEO also weathered a tax exposé, resigned as a trustee of The Bill &amp; Melinda Gates Foundation, reflected on his decades-long friendship with Charlie Munger, and saw his Apple investment soared in value.</p><p><blockquote>这位著名投资者兼伯克希尔·哈撒韦公司首席执行官还经受住了税务风险，辞去了比尔及梅琳达·盖茨基金会受托人的职务，反思了他与查理·芒格数十年的友谊，并看到他在苹果的投资价值飙升。</blockquote></p><p> <b>Here are the 8 highlights of Buffett's year:</b></p><p><blockquote><b>以下是巴菲特今年的 8 个亮点：</b></blockquote></p><p> <b>Chevron and Verizon</b></p><p><blockquote><b>雪佛龙和威瑞森</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a6a660c35780e87560d9d7518a755bf\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>CNBC</span></p><p><blockquote><p class=\"t-img-caption\"><span>CNBC</span></p></blockquote></p><p> Buffett started the year in style with his&nbsp;fourth-quarter portfolio update&nbsp;in February. He revealed a $4.1 billion stake in&nbsp;Chevron&nbsp;and a $8.6 billion position in&nbsp;Verizon, answering the question of which&nbsp;mystery stocks&nbsp;he had been buying in recent months.</p><p><blockquote>巴菲特在二月份发布了第四季度投资组合更新，以时尚的方式开始了新的一年。他透露了雪佛龙41亿美元的股份和威瑞森86亿美元的头寸，回答了他最近几个月购买了哪些神秘股票的问题。</blockquote></p><p> Berkshire also trimmed the largest position in its portfolio,Apple, by 6%. Moreover, it halved its&nbsp;Wells Fargo&nbsp;holdings and exited&nbsp;JPMorgan,PNC, and&nbsp;M&amp;T&nbsp;after slashing its positions in those banks in 2020.</p><p><blockquote>伯克希尔还将其投资组合中最大的头寸苹果公司削减了 6%。此外，该公司在 2020 年削减了富国银行的持股比例后，将其持有的富国银行减半，并退出了摩根大通、PNC 和 M&amp;T。</blockquote></p><p> <b>The shareholder letter</b></p><p><blockquote><b>股东函件</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce8d9ea154fd9ca33192159634e60af4\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett&nbsp;published&nbsp;his annual letter to shareholders in February. The investor admitted to overpaying when he acquired Precision Castparts in 2016, trumpeted a bunch of Berkshire's subsidiaries, and contrasted his long-term shareholders with the speculators flocking to trendy assets such as meme stocks and cryptocurrencies.</p><p><blockquote>巴菲特于二月份发表了年度致股东信。这位投资者承认在 2016 年收购 Precision Castparts 时支付了过高的价格，大肆宣扬伯克希尔的一系列子公司，并将他的长期股东与涌向模因股票和加密货币等时尚资产的投机者进行了对比。</blockquote></p><p> <b>The annual meeting</b></p><p><blockquote><b>年会</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f9312fb972e2aa68627183025b2f91e\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Berkshire Hathaway CEO Warren Buffett talks to reporters while holding an ice cream at a trade show during the company's annual meeting in Omaha, Nebraska May 3, 2014.</span></p><p><blockquote><p class=\"t-img-caption\"><span>2014 年 5 月 3 日，伯克希尔哈撒韦公司首席执行官沃伦·巴菲特在内布拉斯加州奥马哈举行的公司年会上手持冰淇淋在贸易展上接受记者采访。</span></p></blockquote></p><p> Buffett warned rookie traders not to get cocky, bemoaned the lack of bargains in the market, rang the inflation alarm, and admitted to buying \"so-so\" stocks during Berkshire's&nbsp;annual shareholder meeting&nbsp;in May.</p><p><blockquote>巴菲特警告菜鸟交易员不要自大，哀叹市场缺乏便宜货，敲响通胀警钟，并承认在5月份伯克希尔年度股东大会期间购买了“一般般”的股票。</blockquote></p><p> The investor also complained about the surge in people treating the stock market like a casino. Moreover, he acknowledged that trimming his Apple stake and selling&nbsp;Costco&nbsp;were likely mistakes, and suggested he avoided bailing out the \"big four\" US airlines by exiting his positions in them in April 2020.</p><p><blockquote>这位投资者还抱怨说，越来越多的人把股市当成赌场。此外，他承认削减苹果股份和出售好市多可能是错误，并建议他在2020年4月退出美国“四大”航空公司的头寸，以避免救助它们。</blockquote></p><p> <b>The tax fracas</b></p><p><blockquote><b>税务纠纷</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61a44f30c0a7e35f28da432b35a28cf3\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett came under fire in June after ProPublica secured the tax returns of some of the wealthiest Americans, and reported the investor paid only $25 million in federal income tax between 2014 and 2018.</p><p><blockquote>6 月份，ProPublica 获得了一些最富有的美国人的纳税申报表，并报道称这位投资者在 2014 年至 2018 年间仅缴纳了 2500 万美元的联邦所得税，巴菲特因此受到抨击。</blockquote></p><p> The Berkshire boss&nbsp;defended himself&nbsp;by noting that he's pledged to give over 99% of his net worth to philanthropic causes, and has already donated about half of his Berkshire \"A\" shares since 2006.</p><p><blockquote>这位伯克希尔老板为自己辩护时指出，他承诺将超过 99% 的净资产捐赠给慈善事业，并且自 2006 年以来已经捐赠了大约一半的伯克希尔“A”股。</blockquote></p><p> <b>The Gates Foundation</b></p><p><blockquote><b>盖茨基金会</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f51d18855fcf5c00bab6b290a5814dd9\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Paul Sakuma/AP Photo</span></p><p><blockquote><p class=\"t-img-caption\"><span>保罗·佐久间/美联社照片</span></p></blockquote></p><p> Buffett&nbsp;resigned&nbsp;as a trustee of the Bill &amp; Melinda Gates Foundation in June. The investor explained that he was barely involved in the foundation's work, and had already stepped down from all corporate boards except his own.</p><p><blockquote>巴菲特于六月辞去了比尔及梅琳达·盖茨基金会受托人的职务。这位投资者解释说，他几乎没有参与基金会的工作，并且已经辞去了除自己以外的所有公司董事会职务。</blockquote></p><p> He also highlighted his annual donation of $4.1 billion in total to five charities, including the Gates Foundation.</p><p><blockquote>他还强调了他每年向包括盖茨基金会在内的五个慈善机构捐赠的总计41亿美元。</blockquote></p><p> <b>Friendship with Charlie Munger</b></p><p><blockquote><b>与查理·芒格的友谊</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad9020f65431108ca2a38c0e654349a2\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>SCOTT MORGAN/REUTERS</span></p><p><blockquote><p class=\"t-img-caption\"><span>斯科特·摩根/路透社</span></p></blockquote></p><p> Buffett and his business partner, Charlie Munger, discussed their decades-long friendship in a&nbsp;CNBC interview&nbsp;that aired in June.</p><p><blockquote>巴菲特和他的商业伙伴查理·芒格在 6 月份播出的 CNBC 采访中讨论了他们数十年的友谊。</blockquote></p><p></p><p> The pair sharply criticized&nbsp;Robinhood, and Munger called for tighter regulations on derivatives trading after&nbsp;Archegos Capital's meltdown. Buffett underlined the immense contribution that Munger has made to his life.</p><p><blockquote>两人严厉批评了 Robinhood，芒格呼吁在 Archegos Capital 倒闭后对衍生品交易实施更严格的监管。巴菲特强调了芒格对他一生做出的巨大贡献。</blockquote></p><p> <b>Buybacks, cash, and stock sales</b></p><p><blockquote><b>回购、现金和股票销售</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bfba0cfd98eca4c346f1fc53e1dd9bf\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Berkshire's&nbsp;third-quarter earnings&nbsp;underlined how hard it has been for Buffett to find bargain stocks and businesses this year. That has prompted him to stockpile cash and ramp up share buybacks.</p><p><blockquote>伯克希尔第三季度的收益凸显了巴菲特今年寻找廉价股票和业务有多么困难。这促使他储备现金并增加股票回购。</blockquote></p><p> The conglomerate sold a net $7 billion of stock in the year to September 30, revealed it was on track to repurchase a record $25 billion of stock this year, and grew its cash pile to an unprecedented $149 billion.</p><p><blockquote>截至 9 月 30 日的一年中，该企业集团净出售了 70 亿美元的股票，透露今年有望回购创纪录的 250 亿美元股票，并将其现金池增至前所未有的 1,490 亿美元。</blockquote></p><p> <b>The Apple bet</b></p><p><blockquote><b>苹果赌注</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6a735713e1ca5629e3e229ed80ea7fbb\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett's biggest success this year might well be his Apple investment.</p><p><blockquote>巴菲特今年最大的成功很可能是他的苹果投资。</blockquote></p><p> The investor plowed $36 billion into the iPhone maker between 2016 and 2018. The stock has&nbsp;surged&nbsp;by about a third this year, boosting the value of Berkshire's stake to more than $150 billion as of mid-December.</p><p><blockquote>这位投资者在2016年至2018年间向这家iPhone制造商投入了360亿美元。该股今年已飙升约三分之一，截至 12 月中旬，伯克希尔的股票价值已超过 1500 亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here are Warren Buffett's 8 highlights of 2021<blockquote>以下是沃伦·巴菲特 2021 年的 8 个亮点</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\">\nHere are Warren Buffett's 8 highlights of 2021<blockquote>以下是沃伦·巴菲特 2021 年的 8 个亮点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Markets insider</strong><span class=\"h-time small\">2021-12-24 11:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Warren Buffett revealed 2 big bets, defended his tax habits, and admitted several mistakes this year. Here are his 8 highlights of 2021.</p><p><blockquote>沃伦·巴菲特透露了两大赌注，为自己的纳税习惯辩护，并承认今年犯了几个错误。以下是他2021年的8个亮点。</blockquote></p><p> <ul>  <li>Warren Buffett revealed two big bets, admitted mistakes, and complained about speculators this year.</li>  <li>The Berkshire Hathaway chief defended his tax practices<b>&nbsp;and made a fortune on Apple.</b></li>  <li><b>Here are billionaire investor Buffett's eight highlights of 2021.</b></li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45e08085f6ee8a3866f2c0f78fdc0f63\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett.</span></p><p><blockquote><ul><li>沃伦·巴菲特透露了两个大赌注，承认了错误，并抱怨了今年的投机者。</li><li>伯克希尔哈撒韦公司总裁为自己的税务做法辩护<b>在苹果上发了财。</b></li><li><b>以下是亿万富翁投资者巴菲特 2021 年的八大亮点。</b></li></ul><p class=\"t-img-caption\"><span>沃伦·巴菲特。</span></p></blockquote></p><p> Warren Buffett revealed a couple of billion-dollar investments, owned up to making several mistakes, and bemoaned the rampant speculation in markets this year.</p><p><blockquote>沃伦·巴菲特透露了几笔数十亿美元的投资，承认犯了几个错误，并哀叹今年市场上猖獗的投机行为。</blockquote></p><p> The renowned investor and Berkshire Hathaway CEO also weathered a tax exposé, resigned as a trustee of The Bill &amp; Melinda Gates Foundation, reflected on his decades-long friendship with Charlie Munger, and saw his Apple investment soared in value.</p><p><blockquote>这位著名投资者兼伯克希尔·哈撒韦公司首席执行官还经受住了税务风险，辞去了比尔及梅琳达·盖茨基金会受托人的职务，反思了他与查理·芒格数十年的友谊，并看到他在苹果的投资价值飙升。</blockquote></p><p> <b>Here are the 8 highlights of Buffett's year:</b></p><p><blockquote><b>以下是巴菲特今年的 8 个亮点：</b></blockquote></p><p> <b>Chevron and Verizon</b></p><p><blockquote><b>雪佛龙和威瑞森</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a6a660c35780e87560d9d7518a755bf\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>CNBC</span></p><p><blockquote><p class=\"t-img-caption\"><span>CNBC</span></p></blockquote></p><p> Buffett started the year in style with his&nbsp;fourth-quarter portfolio update&nbsp;in February. He revealed a $4.1 billion stake in&nbsp;Chevron&nbsp;and a $8.6 billion position in&nbsp;Verizon, answering the question of which&nbsp;mystery stocks&nbsp;he had been buying in recent months.</p><p><blockquote>巴菲特在二月份发布了第四季度投资组合更新，以时尚的方式开始了新的一年。他透露了雪佛龙41亿美元的股份和威瑞森86亿美元的头寸，回答了他最近几个月购买了哪些神秘股票的问题。</blockquote></p><p> Berkshire also trimmed the largest position in its portfolio,Apple, by 6%. Moreover, it halved its&nbsp;Wells Fargo&nbsp;holdings and exited&nbsp;JPMorgan,PNC, and&nbsp;M&amp;T&nbsp;after slashing its positions in those banks in 2020.</p><p><blockquote>伯克希尔还将其投资组合中最大的头寸苹果公司削减了 6%。此外，该公司在 2020 年削减了富国银行的持股比例后，将其持有的富国银行减半，并退出了摩根大通、PNC 和 M&amp;T。</blockquote></p><p> <b>The shareholder letter</b></p><p><blockquote><b>股东函件</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce8d9ea154fd9ca33192159634e60af4\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett&nbsp;published&nbsp;his annual letter to shareholders in February. The investor admitted to overpaying when he acquired Precision Castparts in 2016, trumpeted a bunch of Berkshire's subsidiaries, and contrasted his long-term shareholders with the speculators flocking to trendy assets such as meme stocks and cryptocurrencies.</p><p><blockquote>巴菲特于二月份发表了年度致股东信。这位投资者承认在 2016 年收购 Precision Castparts 时支付了过高的价格，大肆宣扬伯克希尔的一系列子公司，并将他的长期股东与涌向模因股票和加密货币等时尚资产的投机者进行了对比。</blockquote></p><p> <b>The annual meeting</b></p><p><blockquote><b>年会</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f9312fb972e2aa68627183025b2f91e\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Berkshire Hathaway CEO Warren Buffett talks to reporters while holding an ice cream at a trade show during the company's annual meeting in Omaha, Nebraska May 3, 2014.</span></p><p><blockquote><p class=\"t-img-caption\"><span>2014 年 5 月 3 日，伯克希尔哈撒韦公司首席执行官沃伦·巴菲特在内布拉斯加州奥马哈举行的公司年会上手持冰淇淋在贸易展上接受记者采访。</span></p></blockquote></p><p> Buffett warned rookie traders not to get cocky, bemoaned the lack of bargains in the market, rang the inflation alarm, and admitted to buying \"so-so\" stocks during Berkshire's&nbsp;annual shareholder meeting&nbsp;in May.</p><p><blockquote>巴菲特警告菜鸟交易员不要自大，哀叹市场缺乏便宜货，敲响通胀警钟，并承认在5月份伯克希尔年度股东大会期间购买了“一般般”的股票。</blockquote></p><p> The investor also complained about the surge in people treating the stock market like a casino. Moreover, he acknowledged that trimming his Apple stake and selling&nbsp;Costco&nbsp;were likely mistakes, and suggested he avoided bailing out the \"big four\" US airlines by exiting his positions in them in April 2020.</p><p><blockquote>这位投资者还抱怨说，越来越多的人把股市当成赌场。此外，他承认削减苹果股份和出售好市多可能是错误，并建议他在2020年4月退出美国“四大”航空公司的头寸，以避免救助它们。</blockquote></p><p> <b>The tax fracas</b></p><p><blockquote><b>税务纠纷</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61a44f30c0a7e35f28da432b35a28cf3\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett came under fire in June after ProPublica secured the tax returns of some of the wealthiest Americans, and reported the investor paid only $25 million in federal income tax between 2014 and 2018.</p><p><blockquote>6 月份，ProPublica 获得了一些最富有的美国人的纳税申报表，并报道称这位投资者在 2014 年至 2018 年间仅缴纳了 2500 万美元的联邦所得税，巴菲特因此受到抨击。</blockquote></p><p> The Berkshire boss&nbsp;defended himself&nbsp;by noting that he's pledged to give over 99% of his net worth to philanthropic causes, and has already donated about half of his Berkshire \"A\" shares since 2006.</p><p><blockquote>这位伯克希尔老板为自己辩护时指出，他承诺将超过 99% 的净资产捐赠给慈善事业，并且自 2006 年以来已经捐赠了大约一半的伯克希尔“A”股。</blockquote></p><p> <b>The Gates Foundation</b></p><p><blockquote><b>盖茨基金会</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f51d18855fcf5c00bab6b290a5814dd9\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Paul Sakuma/AP Photo</span></p><p><blockquote><p class=\"t-img-caption\"><span>保罗·佐久间/美联社照片</span></p></blockquote></p><p> Buffett&nbsp;resigned&nbsp;as a trustee of the Bill &amp; Melinda Gates Foundation in June. The investor explained that he was barely involved in the foundation's work, and had already stepped down from all corporate boards except his own.</p><p><blockquote>巴菲特于六月辞去了比尔及梅琳达·盖茨基金会受托人的职务。这位投资者解释说，他几乎没有参与基金会的工作，并且已经辞去了除自己以外的所有公司董事会职务。</blockquote></p><p> He also highlighted his annual donation of $4.1 billion in total to five charities, including the Gates Foundation.</p><p><blockquote>他还强调了他每年向包括盖茨基金会在内的五个慈善机构捐赠的总计41亿美元。</blockquote></p><p> <b>Friendship with Charlie Munger</b></p><p><blockquote><b>与查理·芒格的友谊</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad9020f65431108ca2a38c0e654349a2\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>SCOTT MORGAN/REUTERS</span></p><p><blockquote><p class=\"t-img-caption\"><span>斯科特·摩根/路透社</span></p></blockquote></p><p> Buffett and his business partner, Charlie Munger, discussed their decades-long friendship in a&nbsp;CNBC interview&nbsp;that aired in June.</p><p><blockquote>巴菲特和他的商业伙伴查理·芒格在 6 月份播出的 CNBC 采访中讨论了他们数十年的友谊。</blockquote></p><p></p><p> The pair sharply criticized&nbsp;Robinhood, and Munger called for tighter regulations on derivatives trading after&nbsp;Archegos Capital's meltdown. Buffett underlined the immense contribution that Munger has made to his life.</p><p><blockquote>两人严厉批评了 Robinhood，芒格呼吁在 Archegos Capital 倒闭后对衍生品交易实施更严格的监管。巴菲特强调了芒格对他一生做出的巨大贡献。</blockquote></p><p> <b>Buybacks, cash, and stock sales</b></p><p><blockquote><b>回购、现金和股票销售</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bfba0cfd98eca4c346f1fc53e1dd9bf\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Berkshire's&nbsp;third-quarter earnings&nbsp;underlined how hard it has been for Buffett to find bargain stocks and businesses this year. That has prompted him to stockpile cash and ramp up share buybacks.</p><p><blockquote>伯克希尔第三季度的收益凸显了巴菲特今年寻找廉价股票和业务有多么困难。这促使他储备现金并增加股票回购。</blockquote></p><p> The conglomerate sold a net $7 billion of stock in the year to September 30, revealed it was on track to repurchase a record $25 billion of stock this year, and grew its cash pile to an unprecedented $149 billion.</p><p><blockquote>截至 9 月 30 日的一年中，该企业集团净出售了 70 亿美元的股票，透露今年有望回购创纪录的 250 亿美元股票，并将其现金池增至前所未有的 1,490 亿美元。</blockquote></p><p> <b>The Apple bet</b></p><p><blockquote><b>苹果赌注</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6a735713e1ca5629e3e229ed80ea7fbb\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Warren Buffett</span></p><p><blockquote><p class=\"t-img-caption\"><span>沃伦·巴菲特</span></p></blockquote></p><p> Buffett's biggest success this year might well be his Apple investment.</p><p><blockquote>巴菲特今年最大的成功很可能是他的苹果投资。</blockquote></p><p> The investor plowed $36 billion into the iPhone maker between 2016 and 2018. The stock has&nbsp;surged&nbsp;by about a third this year, boosting the value of Berkshire's stake to more than $150 billion as of mid-December.</p><p><blockquote>这位投资者在2016年至2018年间向这家iPhone制造商投入了360亿美元。该股今年已飙升约三分之一，截至 12 月中旬，伯克希尔的股票价值已超过 1500 亿美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-stocks-portfolio-taxes-mistakes-review-2021-12\">Markets insider</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-stocks-portfolio-taxes-mistakes-review-2021-12","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117383431","content_text":"Warren Buffett revealed 2 big bets, defended his tax habits, and admitted several mistakes this year. Here are his 8 highlights of 2021.\n\nWarren Buffett revealed two big bets, admitted mistakes, and complained about speculators this year.\nThe Berkshire Hathaway chief defended his tax practices and made a fortune on Apple.\nHere are billionaire investor Buffett's eight highlights of 2021.\n\nWarren Buffett.\nWarren Buffett revealed a couple of billion-dollar investments, owned up to making several mistakes, and bemoaned the rampant speculation in markets this year.\nThe renowned investor and Berkshire Hathaway CEO also weathered a tax exposé, resigned as a trustee of The Bill & Melinda Gates Foundation, reflected on his decades-long friendship with Charlie Munger, and saw his Apple investment soared in value.\nHere are the 8 highlights of Buffett's year:\nChevron and Verizon\nCNBC\nBuffett started the year in style with his fourth-quarter portfolio update in February. He revealed a $4.1 billion stake in Chevron and a $8.6 billion position in Verizon, answering the question of which mystery stocks he had been buying in recent months.\nBerkshire also trimmed the largest position in its portfolio,Apple, by 6%. Moreover, it halved its Wells Fargo holdings and exited JPMorgan,PNC, and M&T after slashing its positions in those banks in 2020.\nThe shareholder letter\nWarren Buffett\nBuffett published his annual letter to shareholders in February. The investor admitted to overpaying when he acquired Precision Castparts in 2016, trumpeted a bunch of Berkshire's subsidiaries, and contrasted his long-term shareholders with the speculators flocking to trendy assets such as meme stocks and cryptocurrencies.\nThe annual meeting\nBerkshire Hathaway CEO Warren Buffett talks to reporters while holding an ice cream at a trade show during the company's annual meeting in Omaha, Nebraska May 3, 2014.\nBuffett warned rookie traders not to get cocky, bemoaned the lack of bargains in the market, rang the inflation alarm, and admitted to buying \"so-so\" stocks during Berkshire's annual shareholder meeting in May.\nThe investor also complained about the surge in people treating the stock market like a casino. Moreover, he acknowledged that trimming his Apple stake and selling Costco were likely mistakes, and suggested he avoided bailing out the \"big four\" US airlines by exiting his positions in them in April 2020.\nThe tax fracas\nWarren Buffett\nBuffett came under fire in June after ProPublica secured the tax returns of some of the wealthiest Americans, and reported the investor paid only $25 million in federal income tax between 2014 and 2018.\nThe Berkshire boss defended himself by noting that he's pledged to give over 99% of his net worth to philanthropic causes, and has already donated about half of his Berkshire \"A\" shares since 2006.\nThe Gates Foundation\nPaul Sakuma/AP Photo\nBuffett resigned as a trustee of the Bill & Melinda Gates Foundation in June. The investor explained that he was barely involved in the foundation's work, and had already stepped down from all corporate boards except his own.\nHe also highlighted his annual donation of $4.1 billion in total to five charities, including the Gates Foundation.\nFriendship with Charlie Munger\nSCOTT MORGAN/REUTERS\nBuffett and his business partner, Charlie Munger, discussed their decades-long friendship in a CNBC interview that aired in June.\nThe pair sharply criticized Robinhood, and Munger called for tighter regulations on derivatives trading after Archegos Capital's meltdown. Buffett underlined the immense contribution that Munger has made to his life.\nBuybacks, cash, and stock sales\nWarren Buffett\nBerkshire's third-quarter earnings underlined how hard it has been for Buffett to find bargain stocks and businesses this year. That has prompted him to stockpile cash and ramp up share buybacks.\nThe conglomerate sold a net $7 billion of stock in the year to September 30, revealed it was on track to repurchase a record $25 billion of stock this year, and grew its cash pile to an unprecedented $149 billion.\nThe Apple bet\nWarren Buffett\nBuffett's biggest success this year might well be his Apple investment.\nThe investor plowed $36 billion into the iPhone maker between 2016 and 2018. The stock has surged by about a third this year, boosting the value of Berkshire's stake to more than $150 billion as of mid-December.","news_type":1,"symbols_score_info":{"BRK.B":0.9,"AAPL":0.9,"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":3722,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607858455,"gmtCreate":1639527425876,"gmtModify":1639527425977,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"okay","listText":"okay","text":"okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607858455","repostId":"1193477857","repostType":4,"repost":{"id":"1193477857","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639524687,"share":"https://www.laohunote.com/m/news/1193477857?lang=zh_CN&edition=full","pubTime":"2021-12-15 07:31","market":"us","language":"en","title":"Digital World Acquisition jumped 5.7% in extended trading<blockquote>Digital World 收购在延长交易中上涨 5.7%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1193477857","media":"Tiger Newspress","summary":"Digital World Acquisition jumped 5.7% in extended trading after Trump Media & Technology Group announced partnership with Rumble.Trump Media & Technology Group, today announced that it has entered into a wide-ranging technology and cloud services agreement with Rumble Inc. . As part of the partnership, Rumble will deliver video and streaming for TRUTH Social. TMTG and Rumble are also in exclusive negotiations for Rumble to provide infrastructure and video delivery services for TMTG’s Subscriptio","content":"<p>Digital World Acquisition jumped 5.7% in extended trading&nbsp;after&nbsp;Trump Media &amp; Technology Group announced partnership with Rumble.</p><p><blockquote>特朗普媒体技术集团宣布与 Rumble 合作后，Digital World Acquisition 在盘后交易中上涨 5.7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a735359629a1d1ea9d8f8cabd7c1ef4d\" tg-width=\"841\" tg-height=\"619\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <u>Trump Media &amp; Technology Group</u>(‘TMTG’), today announced that it has entered into a wide-ranging technology and cloud services agreement with Rumble Inc. (‘Rumble’). As part of the partnership, Rumble will deliver video and streaming for TRUTH Social. TMTG and Rumble are also in exclusive negotiations for Rumble to provide infrastructure and video delivery services for TMTG’s Subscription Video On-Demand product, TMTG+.</p><p><blockquote><u>特朗普媒体与科技集团</u>（“TMTG”）今天宣布，它已与 Rumble Inc.（“Rumble”）签订了一项广泛的技术和云服务协议。作为合作的一部分，Rumble将为TRUTH Social提供视频和流媒体。TMTG 和 Rumble 还在就 Rumble 为 TMTG 的订阅视频点播产品 TMTG+ 提供基础设施和视频交付服务进行独家谈判。</blockquote></p><p> President Donald J. Trump, Chairman of TMTG, commented, “As part of our mission, TMTG continues to align with service providers who do not discriminate against political ideology. Therefore, I have selected the Rumble Cloud to serve as a critical backbone for TMTG infrastructure. TMTG has already launched Truth Social on the Rumble Cloud for invited guests only, and the initial Beta launch has been excellent. America is ready for TRUTH Social, and the end to cancel culture.”</p><p><blockquote>TMTG 主席 Donald J. Trump 总统评论说：“作为我们使命的一部分，TMTG 将继续与不歧视政治意识形态的服务提供商保持一致。因此，我选择 Rumble Cloud 作为 TMTG 基础设施的重要支柱。TMTG 已经在 Rumble Cloud 上推出了仅限受邀嘉宾使用的Truth Social，最初的测试版发布非常出色。美国已经准备好迎接TRUTH Social和取消文化的结局。”</blockquote></p><p> Chris Pavlovski, the Founder and Chief Executive Officer of Rumble, said, \"Rumble is excited to provide technology and cloud services to TMTG. We continue to build the infrastructure to deliver a free, open, and neutral internet. Rumble was designed to be immune to cancel culture, and we are at the forefront of a movement that believes everyone benefits from access to a neutral platform that hosts diverse ideas and opinions.”</p><p><blockquote>Rumble 创始人兼首席执行官克里斯-帕夫洛夫斯基（Chris Pavlovski）表示：“Rumble 很高兴能为 TMTG 提供技术和云服务。我们将继续建设基础设施，以提供免费、开放和中立的互联网。Rumble 的设计初衷是不受取消文化的影响，我们正走在一场运动的前沿，这场运动相信每个人都能从访问一个容纳不同想法和观点的中立平台中受益。”</blockquote></p><p> Rumble is a high-growth neutral video distribution platform. Rumble has created rails and independent infrastructure that are designed to be immune to cancel culture. Rumble's mission is to restore the internet to its roots by protecting a free and open internet. Rumble recently announced the execution of a definitive business combination agreement with CFVI (CF Acquisition Corp. VI).</p><p><blockquote>Rumble是一个高增长的中立视频分发平台。隆隆创造了轨道和独立的基础设施，旨在免疫取消文化。Rumble的使命是通过保护一个自由开放的互联网，让互联网回归其根源。Rumble 最近宣布与 CFVI (CF Acquisition Corp. VI) 签署最终业务合并协议。</blockquote></p><p> CFVI&nbsp;stock&nbsp;also&nbsp;surged&nbsp;14.1%&nbsp;in extended trading.</p><p><blockquote>CFVI 股价在盘后交易中也飙升 14.1%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c149a543c2a8396408b755d5ebd12b3b\" tg-width=\"840\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Digital World Acquisition jumped 5.7% in extended trading<blockquote>Digital World 收购在延长交易中上涨 5.7%</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\">\nDigital World Acquisition jumped 5.7% in extended trading<blockquote>Digital World 收购在延长交易中上涨 5.7%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-15 07:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Digital World Acquisition jumped 5.7% in extended trading&nbsp;after&nbsp;Trump Media &amp; Technology Group announced partnership with Rumble.</p><p><blockquote>特朗普媒体技术集团宣布与 Rumble 合作后，Digital World Acquisition 在盘后交易中上涨 5.7%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a735359629a1d1ea9d8f8cabd7c1ef4d\" tg-width=\"841\" tg-height=\"619\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <u>Trump Media &amp; Technology Group</u>(‘TMTG’), today announced that it has entered into a wide-ranging technology and cloud services agreement with Rumble Inc. (‘Rumble’). As part of the partnership, Rumble will deliver video and streaming for TRUTH Social. TMTG and Rumble are also in exclusive negotiations for Rumble to provide infrastructure and video delivery services for TMTG’s Subscription Video On-Demand product, TMTG+.</p><p><blockquote><u>特朗普媒体与科技集团</u>（“TMTG”）今天宣布，它已与 Rumble Inc.（“Rumble”）签订了一项广泛的技术和云服务协议。作为合作的一部分，Rumble将为TRUTH Social提供视频和流媒体。TMTG 和 Rumble 还在就 Rumble 为 TMTG 的订阅视频点播产品 TMTG+ 提供基础设施和视频交付服务进行独家谈判。</blockquote></p><p> President Donald J. Trump, Chairman of TMTG, commented, “As part of our mission, TMTG continues to align with service providers who do not discriminate against political ideology. Therefore, I have selected the Rumble Cloud to serve as a critical backbone for TMTG infrastructure. TMTG has already launched Truth Social on the Rumble Cloud for invited guests only, and the initial Beta launch has been excellent. America is ready for TRUTH Social, and the end to cancel culture.”</p><p><blockquote>TMTG 主席 Donald J. Trump 总统评论说：“作为我们使命的一部分，TMTG 将继续与不歧视政治意识形态的服务提供商保持一致。因此，我选择 Rumble Cloud 作为 TMTG 基础设施的重要支柱。TMTG 已经在 Rumble Cloud 上推出了仅限受邀嘉宾使用的Truth Social，最初的测试版发布非常出色。美国已经准备好迎接TRUTH Social和取消文化的结局。”</blockquote></p><p> Chris Pavlovski, the Founder and Chief Executive Officer of Rumble, said, \"Rumble is excited to provide technology and cloud services to TMTG. We continue to build the infrastructure to deliver a free, open, and neutral internet. Rumble was designed to be immune to cancel culture, and we are at the forefront of a movement that believes everyone benefits from access to a neutral platform that hosts diverse ideas and opinions.”</p><p><blockquote>Rumble 创始人兼首席执行官克里斯-帕夫洛夫斯基（Chris Pavlovski）表示：“Rumble 很高兴能为 TMTG 提供技术和云服务。我们将继续建设基础设施，以提供免费、开放和中立的互联网。Rumble 的设计初衷是不受取消文化的影响，我们正走在一场运动的前沿，这场运动相信每个人都能从访问一个容纳不同想法和观点的中立平台中受益。”</blockquote></p><p> Rumble is a high-growth neutral video distribution platform. Rumble has created rails and independent infrastructure that are designed to be immune to cancel culture. Rumble's mission is to restore the internet to its roots by protecting a free and open internet. Rumble recently announced the execution of a definitive business combination agreement with CFVI (CF Acquisition Corp. VI).</p><p><blockquote>Rumble是一个高增长的中立视频分发平台。隆隆创造了轨道和独立的基础设施，旨在免疫取消文化。Rumble的使命是通过保护一个自由开放的互联网，让互联网回归其根源。Rumble 最近宣布与 CFVI (CF Acquisition Corp. VI) 签署最终业务合并协议。</blockquote></p><p> CFVI&nbsp;stock&nbsp;also&nbsp;surged&nbsp;14.1%&nbsp;in extended trading.</p><p><blockquote>CFVI 股价在盘后交易中也飙升 14.1%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c149a543c2a8396408b755d5ebd12b3b\" tg-width=\"840\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193477857","content_text":"Digital World Acquisition jumped 5.7% in extended trading after Trump Media & Technology Group announced partnership with Rumble.\n\nTrump Media & Technology Group(‘TMTG’), today announced that it has entered into a wide-ranging technology and cloud services agreement with Rumble Inc. (‘Rumble’). As part of the partnership, Rumble will deliver video and streaming for TRUTH Social. TMTG and Rumble are also in exclusive negotiations for Rumble to provide infrastructure and video delivery services for TMTG’s Subscription Video On-Demand product, TMTG+.\nPresident Donald J. Trump, Chairman of TMTG, commented, “As part of our mission, TMTG continues to align with service providers who do not discriminate against political ideology. Therefore, I have selected the Rumble Cloud to serve as a critical backbone for TMTG infrastructure. TMTG has already launched Truth Social on the Rumble Cloud for invited guests only, and the initial Beta launch has been excellent. America is ready for TRUTH Social, and the end to cancel culture.”\nChris Pavlovski, the Founder and Chief Executive Officer of Rumble, said, \"Rumble is excited to provide technology and cloud services to TMTG. We continue to build the infrastructure to deliver a free, open, and neutral internet. Rumble was designed to be immune to cancel culture, and we are at the forefront of a movement that believes everyone benefits from access to a neutral platform that hosts diverse ideas and opinions.”\nRumble is a high-growth neutral video distribution platform. Rumble has created rails and independent infrastructure that are designed to be immune to cancel culture. Rumble's mission is to restore the internet to its roots by protecting a free and open internet. Rumble recently announced the execution of a definitive business combination agreement with CFVI (CF Acquisition Corp. VI).\nCFVI stock also surged 14.1% in extended trading.","news_type":1,"symbols_score_info":{"CFVI":0.9,"DWAC":0.9}},"isVote":1,"tweetType":1,"viewCount":3464,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605023911,"gmtCreate":1639094950938,"gmtModify":1639094951062,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"thanks for sharing","listText":"thanks for sharing","text":"thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605023911","repostId":"2190343645","repostType":2,"repost":{"id":"2190343645","kind":"news","pubTimestamp":1639085987,"share":"https://www.laohunote.com/m/news/2190343645?lang=zh_CN&edition=full","pubTime":"2021-12-10 05:39","market":"sh","language":"zh","title":"外媒头条：美国CPI恐再“爆表”！是时候对冲通胀了","url":"https://stock-news.laohu8.com/highlight/detail?id=2190343645","media":"新浪财经","summary":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险\n\n\n2、美国商务部长称若不能解决芯片危机会造成毁灭性影响\n\n\n3、美国家庭净资产创疫后复","content":"<p><b>全球财经媒体昨夜今晨共同关注的头条新闻主要有：</b></p>\n<blockquote>\n <b>1、IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险</b>\n</blockquote>\n<blockquote>\n <b>2、美国商务部长称若不能解决芯片危机会造成毁灭性影响</b>\n</blockquote>\n<blockquote>\n <b>3、美国家庭净资产创疫后复苏以来最低增幅</b>\n</blockquote>\n<blockquote>\n <b>4、美国CPI数据恐进一步攀升 <a href=\"https://laohu8.com/S/BLK\">贝莱德</a>：现在是时候对冲通胀了</b>\n</blockquote>\n<blockquote>\n <b>5、美国上周首次申请失业救济人数降至52年最低 受季节性因素影响</b>\n</blockquote>\n<blockquote>\n <b>6、尽管面临疫情挑战 标普仍预计明年石油需求将增长</b>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/171ee93eeb2ef6ad06cf1393d17fe165\" tg-width=\"720\" tg-height=\"461\" referrerpolicy=\"no-referrer\"></p>\n<p><b>IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险</b></p>\n<p>国际货币基金组织（IMF）首席经济学家周四表示，各国央行没有空间维持宽松的货币政策和低利率，并警告说，新冠疫情的代价可能远高于预期。</p>\n<p>IMF首席经济学家Gita Gopinath表示，除了目前预计的12.5万亿美元损失之外，像奥密克戎（Omicron）这样更易传播的新冠变体可能会使全球经济再损失5.3万亿美元。</p>\n<p>“我们现在处于这样一个阶段，全球各国根本没有空间保持非常宽松的货币政策，将利率维持在极低的水平。我们看到全球各地的通胀压力都在积聚，”她说。</p>\n<p>Gopinath补充说：“因此，想想这样一种情况，疫情可能会持续更长时间，供应中断时间会更长，从而带来通胀压力，然后我们面临着真正风险，即滞胀担忧。”</p>\n<p><img src=\"https://static.tigerbbs.com/5212ae28f04e24df1b80bd53b47e900c\" tg-width=\"720\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国商务部长称若不能解决芯片危机会造成毁灭性影响</b></p>\n<p>美国商务部长雷蒙多表示，如果国会不马上通过拜登政府旨在缓解芯片短缺问题的法案，对美国经济将产生“毁灭性”影响。</p>\n<p>“延后通过的后果再怎么说都不夸张，”雷蒙多周四接受采访时称。“如果不能在圣诞节前完成，就必须在1月完成，因为长期回避这个问题的后果对我们的经济和国家安全来说确实是毁灭性的，”她说道。</p>\n<p>雷蒙多一直在敦促国会通过《芯片法案》以提供520亿美元帮助计算机芯片制造商，缓解供应短缺局面。</p>\n<p>德克萨斯州共和党参议员John Cornyn周三表示，《芯片法案》可能要到2月才能通过。</p>\n<p><img src=\"https://static.tigerbbs.com/a6b793e107dcfc6eafc907b0b32a952c\" tg-width=\"720\" tg-height=\"406\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国家庭净资产创疫后复苏以来最低增幅</b></p>\n<p>美国家庭净资产增速在第三季度降温，股市的暂时回撤抵消了房价上涨的财富效应。</p>\n<p>美联储周四发布的数据显示，在第二季度增加6.14万亿美元之后，家庭净资产在第三季度增加近2.4万亿美元，增幅为1.7%。虽然季度增量是疫情复苏中最小的一次。</p>\n<p>第三季度增长包括家庭房地产增值1.4万亿美元，但股票价值减少近3200亿美元。</p>\n<p>不过，并非所有人都从大流行期间的股价飙升和房地产热潮中受益。调查数据表明，仅有略多于一半的美国人持有股票。而对于租房居住的大约三分之一家庭来说，租金正在迅速上升。</p>\n<p>较高的储蓄水平仍然是家庭支出的一个重要来源，不过随着联邦政府刺激措施的减弱，储蓄有所下降。第三季度私人储蓄净额折年率增长2.84万亿美元，为2020年初以来最慢增速。</p>\n<p><img src=\"https://static.tigerbbs.com/c01e6086ac39e2b3a4bd7ceb2827ad79\" tg-width=\"720\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国CPI数据恐进一步攀升 <a href=\"https://laohu8.com/S/BLK\">贝莱德</a>：现在是时候对冲通胀了</b></p>\n<p>贝莱德的Gargi Chaudhuri预计周五的通胀数据将超过华尔街的预期，并建议投资者对冲更高的通胀。</p>\n<p>“我们可能会得到比市场定价略强一些的东西，”这位贝莱德<a href=\"https://laohu8.com/S/EEME\">iShares</a>安硕美洲投资策略主管周四接受采访时表示。“我预计市场中的部分商品门类以及服务领域会更强劲，例如住房通胀。”</p>\n<p>通胀处于数十年来的最高水平。根据经济学家预测，周五的数据显示11月份通胀率达到6.8%，将是里根时代以来的最高水平，也是许多美国人有生以来遇到的最高通胀。</p>\n<p>Chaudhuri表示，她预计2022年晚些时候通胀将放缓，而商品和服务价格将保持在疫情前水平之上。为了保护自己，投资者应该关注那些能够抵御通胀侵蚀回报的资产，例如“能够转嫁价格上涨的公司的股票”。</p>\n<p><img src=\"https://static.tigerbbs.com/fcc456868080840479884603ed672cd3\" tg-width=\"720\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国上周首次申请失业救济人数降至52年最低 受季节性因素影响</b></p>\n<p>美国上周首次申请失业救济人数降至1969年以来最低水平，凸显出对数据进行季节性调整的难度。</p>\n<p>美国劳工部周四发布的数据显示，截至12月4日的一周，首次申领失业救济人数比前一周减少4.3万，至18.4万人。经济学家中值预期为22万人。</p>\n<p>此前两周该数据已经出现大幅下降，许多经济学家将其归因于假期前后季节性波动因素导致数据调整难度较大。未经调整的首次申领失业救济人数增加约64000人。</p>\n<p>随着美国人重返工作岗位，加之雇主努力留住员工，今年以来，失业救济申请人数呈下降趋势。</p>\n<p>物价上涨和新冠疫情继续加大企业经营及招聘活动难度。上月非农就业人数创下今年以来最小增幅，普遍出现劳动力短缺情况。</p>\n<p><img src=\"https://static.tigerbbs.com/474eb4abca6af4679c83ff8cd42f157c\" tg-width=\"720\" tg-height=\"479\" referrerpolicy=\"no-referrer\"></p>\n<p><b>尽管面临疫情挑战 标普仍预计明年石油需求将增长</b></p>\n<p><a href=\"https://laohu8.com/S/SPGI\">标普全球</a>普氏称，尽管全球仍在继续应对冠状病毒新变种，但明年石油需求仍将增长。</p>\n<p><a href=\"https://laohu8.com/S/SPGI\">标普全球</a>普氏的供应和生产主管Shin Kim在该公司2022年能源展望报告中表示，2022年消费增长的很大一部分将来自航油，以及市场对汽车燃料等其他石油产品的需求上升。</p>\n<p>“石油需求增长的基础稳固，”她说，预计明年的日需求量增幅在300万至640万桶之间。</p>\n<p>不过，能源市场的基调将取决于供应增长的步伐，经过两年的库存萎缩后，生产需要反弹才能满足需求。伊朗恢复供应将产生最大的影响。</p>\n<p>“如果我们不考虑伊朗，而且在其他地方发生重大供应中断，那就意味着真正的问题将是我们是否将试探100美元/桶的油价，” Kim说。</p>\n<p>她说，眼下市场正进入季节性油价疲软时期，但随着需求上升导致供应吃紧，油价5月份后应该会反弹。普氏预计，原油价格将在2022年中期左右回到每桶80美元的水平。</p>","source":"XLCJ","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>外媒头条：美国CPI恐再“爆表”！是时候对冲通胀了</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{ 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n外媒头条：美国CPI恐再“爆表”！是时候对冲通胀了\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-10 05:39 北京时间&nbsp;&nbsp;&nbsp;<a href=https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-12-10/doc-ikyamrmy7981726.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险\n\n\n2、美国商务部长称若不能解决芯片危机会造成毁灭性影响\n\n\n3、美国家庭净资产创疫后复苏以来最低增幅\n\n\n4、美国CPI数据恐进一步攀升 贝莱德：现在是时候对冲通胀了\n\n\n5、美国上周首次申请失业救济人数降至52年最低 受季节性因素影响\n\n\n6、尽管面临疫情挑战 标普仍预计明年石油需求...</p>\n\n<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-12-10/doc-ikyamrmy7981726.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/017a2d51f9605f643f552ed0e3997176","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-12-10/doc-ikyamrmy7981726.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2190343645","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、IMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险\n\n\n2、美国商务部长称若不能解决芯片危机会造成毁灭性影响\n\n\n3、美国家庭净资产创疫后复苏以来最低增幅\n\n\n4、美国CPI数据恐进一步攀升 贝莱德：现在是时候对冲通胀了\n\n\n5、美国上周首次申请失业救济人数降至52年最低 受季节性因素影响\n\n\n6、尽管面临疫情挑战 标普仍预计明年石油需求将增长\n\n\nIMF首席经济学家：全球面临通胀压力和奥密克戎带来的风险\n国际货币基金组织（IMF）首席经济学家周四表示，各国央行没有空间维持宽松的货币政策和低利率，并警告说，新冠疫情的代价可能远高于预期。\nIMF首席经济学家Gita Gopinath表示，除了目前预计的12.5万亿美元损失之外，像奥密克戎（Omicron）这样更易传播的新冠变体可能会使全球经济再损失5.3万亿美元。\n“我们现在处于这样一个阶段，全球各国根本没有空间保持非常宽松的货币政策，将利率维持在极低的水平。我们看到全球各地的通胀压力都在积聚，”她说。\nGopinath补充说：“因此，想想这样一种情况，疫情可能会持续更长时间，供应中断时间会更长，从而带来通胀压力，然后我们面临着真正风险，即滞胀担忧。”\n\n美国商务部长称若不能解决芯片危机会造成毁灭性影响\n美国商务部长雷蒙多表示，如果国会不马上通过拜登政府旨在缓解芯片短缺问题的法案，对美国经济将产生“毁灭性”影响。\n“延后通过的后果再怎么说都不夸张，”雷蒙多周四接受采访时称。“如果不能在圣诞节前完成，就必须在1月完成，因为长期回避这个问题的后果对我们的经济和国家安全来说确实是毁灭性的，”她说道。\n雷蒙多一直在敦促国会通过《芯片法案》以提供520亿美元帮助计算机芯片制造商，缓解供应短缺局面。\n德克萨斯州共和党参议员John Cornyn周三表示，《芯片法案》可能要到2月才能通过。\n\n美国家庭净资产创疫后复苏以来最低增幅\n美国家庭净资产增速在第三季度降温，股市的暂时回撤抵消了房价上涨的财富效应。\n美联储周四发布的数据显示，在第二季度增加6.14万亿美元之后，家庭净资产在第三季度增加近2.4万亿美元，增幅为1.7%。虽然季度增量是疫情复苏中最小的一次。\n第三季度增长包括家庭房地产增值1.4万亿美元，但股票价值减少近3200亿美元。\n不过，并非所有人都从大流行期间的股价飙升和房地产热潮中受益。调查数据表明，仅有略多于一半的美国人持有股票。而对于租房居住的大约三分之一家庭来说，租金正在迅速上升。\n较高的储蓄水平仍然是家庭支出的一个重要来源，不过随着联邦政府刺激措施的减弱，储蓄有所下降。第三季度私人储蓄净额折年率增长2.84万亿美元，为2020年初以来最慢增速。\n\n美国CPI数据恐进一步攀升 贝莱德：现在是时候对冲通胀了\n贝莱德的Gargi Chaudhuri预计周五的通胀数据将超过华尔街的预期，并建议投资者对冲更高的通胀。\n“我们可能会得到比市场定价略强一些的东西，”这位贝莱德iShares安硕美洲投资策略主管周四接受采访时表示。“我预计市场中的部分商品门类以及服务领域会更强劲，例如住房通胀。”\n通胀处于数十年来的最高水平。根据经济学家预测，周五的数据显示11月份通胀率达到6.8%，将是里根时代以来的最高水平，也是许多美国人有生以来遇到的最高通胀。\nChaudhuri表示，她预计2022年晚些时候通胀将放缓，而商品和服务价格将保持在疫情前水平之上。为了保护自己，投资者应该关注那些能够抵御通胀侵蚀回报的资产，例如“能够转嫁价格上涨的公司的股票”。\n\n美国上周首次申请失业救济人数降至52年最低 受季节性因素影响\n美国上周首次申请失业救济人数降至1969年以来最低水平，凸显出对数据进行季节性调整的难度。\n美国劳工部周四发布的数据显示，截至12月4日的一周，首次申领失业救济人数比前一周减少4.3万，至18.4万人。经济学家中值预期为22万人。\n此前两周该数据已经出现大幅下降，许多经济学家将其归因于假期前后季节性波动因素导致数据调整难度较大。未经调整的首次申领失业救济人数增加约64000人。\n随着美国人重返工作岗位，加之雇主努力留住员工，今年以来，失业救济申请人数呈下降趋势。\n物价上涨和新冠疫情继续加大企业经营及招聘活动难度。上月非农就业人数创下今年以来最小增幅，普遍出现劳动力短缺情况。\n\n尽管面临疫情挑战 标普仍预计明年石油需求将增长\n标普全球普氏称，尽管全球仍在继续应对冠状病毒新变种，但明年石油需求仍将增长。\n标普全球普氏的供应和生产主管Shin Kim在该公司2022年能源展望报告中表示，2022年消费增长的很大一部分将来自航油，以及市场对汽车燃料等其他石油产品的需求上升。\n“石油需求增长的基础稳固，”她说，预计明年的日需求量增幅在300万至640万桶之间。\n不过，能源市场的基调将取决于供应增长的步伐，经过两年的库存萎缩后，生产需要反弹才能满足需求。伊朗恢复供应将产生最大的影响。\n“如果我们不考虑伊朗，而且在其他地方发生重大供应中断，那就意味着真正的问题将是我们是否将试探100美元/桶的油价，” Kim说。\n她说，眼下市场正进入季节性油价疲软时期，但随着需求上升导致供应吃紧，油价5月份后应该会反弹。普氏预计，原油价格将在2022年中期左右回到每桶80美元的水平。","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3374,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":874840994,"gmtCreate":1637762013711,"gmtModify":1637762013711,"author":{"id":"3578830026998393","authorId":"3578830026998393","name":"THH092","avatar":"https://static.tigerbbs.com/abf148150e94a895aa21173d38a7444d","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578830026998393","idStr":"3578830026998393"},"themes":[],"title":"","htmlText":"how many more to sell?","listText":"how many more to sell?","text":"how many more to 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