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KF73

KF73

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2021-07-03

How high can the stocks go????

U.S. stocks sweep to fresh highs after strong jobs report

2021-06-26

Depend how long you want to hold..

抱歉，原内容已删除

2021-06-11

How will Apple EV look like?

Apple hires BMW veteran in latest sign of electric car push

2021-06-23

The future is on FED hand...

Tech leads way to Wall Street rebound as Powell promises steady hand

2021-06-24

Merger underway?

Singapore's Keppel, Sembcorp Marine request trading halts

2021-06-18

//@KF73: Great company..

Alibaba Stock: The Bottoming Process Looks To Be Forming Already

2021-12-03

Yes//@CK11:Oh really?

3 Reasons Tech Stocks May Continue To Struggle

2021-04-16

PE:150times wor!! GROWN story!!

抱歉，原内容已删除

2021-06-15

To the moon soon?

抱歉，原内容已删除

2021-05-06

Maybe can go higher, thanks to covid-19

This COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?

2021-06-01

Like AMZN but not at this price.

抱歉，原内容已删除

2021-06-10

Interest rate upside cycle waiting?

Hot inflation may have become scorching in May and is expected to hit a 28-year high

2021-05-22

Shopify.. AMZN no 2..

Tech Stock Crash -- Buy These 2 Growth Stocks on the Dip

2021-04-21

Upgrade only...

Apple Debuts Faster iPad Pro With Brighter Screen and 5G Option

2021-04-15

Tesla is industry leader!

Electric vehicle stocks were down

2021-12-18

Travel recovery play??

Why Airbnb Could Be 1 of the Best Stocks to Own in 2022

2021-06-18

Great company..

Alibaba Stock: The Bottoming Process Looks To Be Forming Already

2021-06-07

Any other options?

Micron: A Strong Chip Shortage Play

2021-06-02

Sign of recovery in economy activities?

抱歉，原内容已删除

2021-05-29

At least for now...

The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever

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If estimates prove correct, it would be the 12th consecutive month with double-digit gains for home prices.</p><p><b>Wednesday 1/26</b></p><p>Abbott Laboratories, Anthem, AT&amp;T, Automatic Data Processing, Boeing, Edwards Lifesciences, Freeport-McMoRan, General Dynamics, Intel, Kimberly-Clark, Nasdaq, Norfolk Southern, Seagate Technology Holdings, ServiceNow, and Tesla report quarterly results.</p><p><b>The Federal Open Market</b> Committee announces its monetary-policy decision. The central bank is expected to keep the federal-funds rate unchanged near zero. The Fed has become increasingly hawkish in the past three months, and Wall Street has priced in one quarter-point rate hike at the FOMC’s March meeting and a total of four quarter-point hikes for the year.</p><p><b>The Census Bureau</b> reports new residential home sales data. Consensus estimate is for a seasonally adjusted annual rate of 762,500 new single-family homes sold in December, 2.5% more than in November.</p><p><b>Thursday 1/27</b></p><p>Altria Group, Comcast, Crown Castle International, Danaher, Dow, International Paper, Mastercard, McDonald’s, Mondelez International,       MSCI, Northrop Grumman, Nucor, Southwest Airlines, and Visa hold conference calls to discuss earnings.</p><p><b>The Bureau of Economic</b>Analysis releases its preliminary estimate for fourth-quarter 2021 gross domestic product. Economists forecast a 5.6% rate of growth, after a 2.3% increase in the third quarter.</p><p><b>Friday 1/28</b></p><p>Caterpillar, Charter Communications, Chevron, Colgate-Palmolive, Phillips 66, V.F.Corp., and Weyerhaeuser report quarterly results.</p></body></html>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla, Intel, Apple, Microsoft, Visa, and Other Stocks to Watch This Week</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: 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\">\nTesla, Intel, Apple, Microsoft, Visa, and Other Stocks to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-24 06:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stocks-to-watch-this-week-tesla-apple-microsoft-51642954621?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It will be a packed week of fourth-quarter earnings releases, with more than 100 S&P 500 companies scheduled to report. IBM and Halliburton are Monday’s highlights, followed by Microsoft, Verizon ...</p>\n\n<a href=\"https://www.barrons.com/articles/stocks-to-watch-this-week-tesla-apple-microsoft-51642954621?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","PSX":"Phillips 66","GE":"GE航空航天","MSFT":"微软","TSLA":"特斯拉","T":"At&T","AXP":"美国运通","MCD":"麦当劳","CMCSA":"康卡斯特","JNJ":"强生","CVX":"雪佛龙","MMM":"3M","V":"Visa","LMT":"洛克希德马丁","VZ":"Verizon Comms","ADM":"Archer Daniels Midland Co","HAL":"哈里伯顿","IBM":"IBM","MA":"万事达","AAPL":"苹果","INTC":"英特尔","NOW":"ServiceNow",".DJI":"道琼斯","BA":"波音","CAT":"卡特彼勒",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/stocks-to-watch-this-week-tesla-apple-microsoft-51642954621?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106250133","content_text":"It will be a packed week of fourth-quarter earnings releases, with more than 100 S&P 500 companies scheduled to report. IBM and Halliburton are Monday’s highlights, followed by Microsoft, Verizon Communications, American Express, General Electric, Johnson & Johnson, and Lockheed Martin on Tuesday.Tesla, AT&T, Intel, and Boeing report on Wednesday. Then Apple, Visa, Comcast, McDonald’s, and Mastercard all go on Thursday before Chevron and Caterpillar close the week on Friday.The highlight on the economic calendar will be Wednesday’s conclusion of the Federal Open Market Committee’s January meeting. The Federal Reserve’s monetary-policy making body publishes a decision that afternoon, followed by a press conference with chairman Jerome Powell. Both will be closely parsed for clues to the central bank’s next moves.Data out this week include IHS Markit’s Manufacturing and Services Purchasing Managers’ indexes for January on Monday, the Census Bureau’s new residential home sales data on Wednesday, and the Bureau of Economic Analysis’ preliminary estimate for fourth-quarter 2021 gross domestic product on Thursday.Monday 1/24Brown & Brown, Halliburton, IBM, Philips, and Zions Bancorp report quarterly results.IHS Markit reports its Manufacturing and Services Purchasing Managers’ indexes for January. Consensus estimate is for a 56 reading for the manufacturing PMI and a 54 for the Services PMI. Both figures are less than the December data. The PMIs are off their record peaks from the middle of last year but remain well above the expansionary level of 50.Tuesday 1/25The world’s two largest companies release results this week as investors look to tech earnings to reverse the Nasdaq’s 9.5% drop this year. Microsoft reports after the close, followed by Apple on Thursday.3M, American Express, Archer-Daniels-Midland, Capital One Financial, General Electric, Invesco, Johnson & Johnson, Lockheed Martin, NextEra Energy, Raytheon Technologies, Texas Instruments, and Verizon Communications release earnings.S&P CoreLogic releases its Case-Shiller National Home Price Index for November. Economists forecast a 18% year-over-year rise, marginally less than in October. If estimates prove correct, it would be the 12th consecutive month with double-digit gains for home prices.Wednesday 1/26Abbott Laboratories, Anthem, AT&T, Automatic Data Processing, Boeing, Edwards Lifesciences, Freeport-McMoRan, General Dynamics, Intel, Kimberly-Clark, Nasdaq, Norfolk Southern, Seagate Technology Holdings, ServiceNow, and Tesla report quarterly results.The Federal Open Market Committee announces its monetary-policy decision. The central bank is expected to keep the federal-funds rate unchanged near zero. The Fed has become increasingly hawkish in the past three months, and Wall Street has priced in one quarter-point rate hike at the FOMC’s March meeting and a total of four quarter-point hikes for the year.The Census Bureau reports new residential home sales data. Consensus estimate is for a seasonally adjusted annual rate of 762,500 new single-family homes sold in December, 2.5% more than in November.Thursday 1/27Altria Group, Comcast, Crown Castle International, Danaher, Dow, International Paper, Mastercard, McDonald’s, Mondelez International,       MSCI, Northrop Grumman, Nucor, Southwest Airlines, and Visa hold conference calls to discuss earnings.The Bureau of EconomicAnalysis releases its preliminary estimate for fourth-quarter 2021 gross domestic product. Economists forecast a 5.6% rate of growth, after a 2.3% increase in the third quarter.Friday 1/28Caterpillar, Charter Communications, Chevron, Colgate-Palmolive, Phillips 66, V.F.Corp., and Weyerhaeuser report quarterly results.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"AAPL":0.9,"ADM":0.9,"AXP":0.9,"BA":0.9,"CAT":0.9,"CMCSA":0.9,"CVX":0.9,"GE":0.9,"HAL":0.9,"IBM":0.9,"INTC":0.9,"JNJ":0.9,"LMT":0.9,"MA":0.9,"MCD":0.9,"MMM":0.9,"MSFT":0.9,"NOW":0.9,"PSX":0.9,"T":0.9,"TSLA":0.9,"V":0.9,"VZ":0.9}},"isVote":1,"tweetType":1,"viewCount":2188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691221622,"gmtCreate":1640212588373,"gmtModify":1640212862401,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Good!&nbsp;","listText":"Good!&nbsp;","text":"Good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/691221622","repostId":"1122126959","repostType":4,"isVote":1,"tweetType":1,"viewCount":2151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699693451,"gmtCreate":1639788452679,"gmtModify":1639788453663,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Travel recovery play??&nbsp;","listText":"Travel recovery play??&nbsp;","text":"Travel recovery play??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/699693451","repostId":"2192973639","repostType":4,"repost":{"id":"2192973639","kind":"highlight","pubTimestamp":1639750838,"share":"https://ttm.financial/m/news/2192973639?lang=&edition=full","pubTime":"2021-12-17 22:20","market":"us","language":"en","title":"Why Airbnb Could Be 1 of the Best Stocks to Own in 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=2192973639","media":"Motley Fool","summary":"The company is gaining market share in an industry growing by hundreds of billions of dollars this year.","content":"<p><b>Airbnb</b> (NASDAQ:ABNB) was one of many companies adversely impacted by the coronavirus pandemic. The company helps facilitate travel worldwide, so it's not surprising that when a sometimes deadly virus reduces the appetite for travel, it will harm Airbnb's business.</p>\n<p>While the virus is still widely circulating, more and more people are feeling better about traveling and booking more trips. That's partly due to the development of several effective vaccines against COVID-19. Indeed, more than 8.5 billion doses of such vaccines have been administered worldwide as of this writing.</p>\n<p>That partial return to travel has helped Airbnb recover from revenue losses caused by the pandemic. Here's why it could be one of the best stocks to own in 2022.</p>\n<h2>Airbnb is gaining market share</h2>\n<p>Interestingly, Airbnb's revenue is already ahead of the levels it achieved before the outbreak. In its most recent quarter ended Sept. 30, Airbnb's reported revenue of $2.2 billion was 36% higher than in the same quarter in 2019.</p>\n<p>Airbnb does not generate revenue by renting out its own locations. Instead, it brings together travelers and hosts and charges fees to each to use its service. The $2.2 billion in revenue it earned came from $11.9 billion in gross booking value on its platform.</p>\n<p>Airbnb is gaining traction with consumers because of its platform's convenience and selection. On Airbnb, folks can find small rooms or large homes, places to stay in large cities or small towns, and the lengths of stay vary from a couple of days to a couple of months. That's all in stark contrast to hotels, which usually offer only a few room options in far fewer locations.</p>\n<p>Airbnb gaining market share in the massive hotel and resort industry is great news for investors. In 2019, before the outbreak, Statista estimated the sector was worth $1.5 trillion in annual revenue. Of course, the pandemic slashed that overall market potential in 2020 to $610 billion, and it's only estimated to recover to $950 billion in 2021. That means there is plenty of room for travel to return to full strength, but Airbnb has already eclipsed its revenue total before the outbreak.</p>\n<p>Moreover, Airbnb's quarterly booking value of $11.9 billion highlights plenty of room for it to grow by gaining market share, in addition to the overall industry rebounding to levels from before the outbreak.</p>\n<h2>Airbnb is an excellent stock trading cheaply</h2>\n<p>Airbnb undoubtedly has excellent prospects over the next several years as the travel industry rebounds and Airbnb takes a larger share of the market. Its stock is currently trading at 52-week lows, which makes it more appealing as an investment. Looking at its price-to-free-cash-flow ratio of 62, it's at the lowest of the year. Moreover, looking at its price-to-sales ratio of 19.7, it's very near the year's lowest price.</p>\n<p>For those reasons and others, Airbnb could be one of the best stocks to own now as we head into 2022 and as the world recovers from COVID-19.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Airbnb Could Be 1 of the Best Stocks to Own in 2022</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: 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\">\nWhy Airbnb Could Be 1 of the Best Stocks to Own in 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-17 22:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/12/17/airbnb-could-be-best-stock-to-own-in-2022/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Airbnb (NASDAQ:ABNB) was one of many companies adversely impacted by the coronavirus pandemic. The company helps facilitate travel worldwide, so it's not surprising that when a sometimes deadly virus ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/17/airbnb-could-be-best-stock-to-own-in-2022/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/12/17/airbnb-could-be-best-stock-to-own-in-2022/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2192973639","content_text":"Airbnb (NASDAQ:ABNB) was one of many companies adversely impacted by the coronavirus pandemic. The company helps facilitate travel worldwide, so it's not surprising that when a sometimes deadly virus reduces the appetite for travel, it will harm Airbnb's business.\nWhile the virus is still widely circulating, more and more people are feeling better about traveling and booking more trips. That's partly due to the development of several effective vaccines against COVID-19. Indeed, more than 8.5 billion doses of such vaccines have been administered worldwide as of this writing.\nThat partial return to travel has helped Airbnb recover from revenue losses caused by the pandemic. Here's why it could be one of the best stocks to own in 2022.\nAirbnb is gaining market share\nInterestingly, Airbnb's revenue is already ahead of the levels it achieved before the outbreak. In its most recent quarter ended Sept. 30, Airbnb's reported revenue of $2.2 billion was 36% higher than in the same quarter in 2019.\nAirbnb does not generate revenue by renting out its own locations. Instead, it brings together travelers and hosts and charges fees to each to use its service. The $2.2 billion in revenue it earned came from $11.9 billion in gross booking value on its platform.\nAirbnb is gaining traction with consumers because of its platform's convenience and selection. On Airbnb, folks can find small rooms or large homes, places to stay in large cities or small towns, and the lengths of stay vary from a couple of days to a couple of months. That's all in stark contrast to hotels, which usually offer only a few room options in far fewer locations.\nAirbnb gaining market share in the massive hotel and resort industry is great news for investors. In 2019, before the outbreak, Statista estimated the sector was worth $1.5 trillion in annual revenue. Of course, the pandemic slashed that overall market potential in 2020 to $610 billion, and it's only estimated to recover to $950 billion in 2021. That means there is plenty of room for travel to return to full strength, but Airbnb has already eclipsed its revenue total before the outbreak.\nMoreover, Airbnb's quarterly booking value of $11.9 billion highlights plenty of room for it to grow by gaining market share, in addition to the overall industry rebounding to levels from before the outbreak.\nAirbnb is an excellent stock trading cheaply\nAirbnb undoubtedly has excellent prospects over the next several years as the travel industry rebounds and Airbnb takes a larger share of the market. Its stock is currently trading at 52-week lows, which makes it more appealing as an investment. Looking at its price-to-free-cash-flow ratio of 62, it's at the lowest of the year. Moreover, looking at its price-to-sales ratio of 19.7, it's very near the year's lowest price.\nFor those reasons and others, Airbnb could be one of the best stocks to own now as we head into 2022 and as the world recovers from COVID-19.","news_type":1,"symbols_score_info":{"ABNB":0.9}},"isVote":1,"tweetType":1,"viewCount":2166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690776483,"gmtCreate":1639715056092,"gmtModify":1639715069407,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/690776483","repostId":"1136590194","repostType":4,"isVote":1,"tweetType":1,"viewCount":3423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601362187,"gmtCreate":1638492808849,"gmtModify":1638492809249,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Yes//<a href=\"https://laohu8.com/U/3581899057268262\">@CK11</a>:Oh really?&nbsp;","listText":"Yes//<a href=\"https://laohu8.com/U/3581899057268262\">@CK11</a>:Oh really?&nbsp;","text":"Yes//@CK11:Oh really?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":15,"repostSize":0,"link":"https://laohu8.com/post/601362187","repostId":"1142443814","repostType":4,"repost":{"id":"1142443814","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1623802730,"share":"https://ttm.financial/m/news/1142443814?lang=&edition=full","pubTime":"2021-06-16 08:18","market":"us","language":"en","title":"3 Reasons Tech Stocks May Continue To Struggle","url":"https://stock-news.laohu8.com/highlight/detail?id=1142443814","media":"Benzinga","summary":"So far in 2021, the Vanguard Value Index Fund ETF is up 17.4% nearly double the year-to-date return ","content":"<p>So far in 2021, the&nbsp;<b>Vanguard Value Index Fund ETF</b>&nbsp;is up 17.4% nearly double the year-to-date return of the<b>Technology Select Sector SPDR Fund</b>.</p>\n<p>Over the past decade, periods of time in which tech stocks have lagged value stocks have been short and sweet, but LPL Financial said there are at least three reasons why tech may no longer be leading the market higher for the foreseeable future.</p>\n<ul>\n <li>First, many tech stocks that thrived during the period of social distancing and remote working will face extremely difficult comps and report growth slowdowns in the next several quarters. At the same time, value stocks in the industrials, materials and energy sectors that struggled during the shutdowns will experience the tailwinds of pent-up demand from the reopening.</li>\n <li>Second, the tech sector’s current forward earnings multiple of 25 is relatively high compared to its historical average. In addition, the Russell 1,000 Growth Index is currently valued at a 60% premium to the Russell 1,000 Value Index, its highest premium in the past 20 years.</li>\n <li>Third, the technology sector appears to be rolling over from a technical standpoint. The sector has lagged the S&amp;P 500 since the beginning of September, suggesting technology’s momentum has stalled out.</li>\n</ul>\n<p>“It’s tough not to like technology given the strong fundamentals and rapid pace of innovation from many tech companies,” LPL Equity Strategist Jeffrey Buchbindersaid Tuesday.“But we expect cyclical value sectors like financials, industrials, and materials to fare better the rest of the year as the economy gets a reopening jolt.”</p>\n<p><b>Benzinga’s Take:</b>Just because tech stocks are no longer leading the market higher doesn’t mean investors should dump all their tech holdings for value stocks. There will still certainly be outperformers within the tech sector that are among the largest gainers in the market in 2021, but the easy money that has come from investing in the sector as a whole in the past decade may be much harder to come by in the next several quarters.</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>3 Reasons Tech Stocks May Continue To Struggle</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: 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\">\n3 Reasons Tech Stocks May Continue To Struggle\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-06-16 08:18</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>So far in 2021, the&nbsp;<b>Vanguard Value Index Fund ETF</b>&nbsp;is up 17.4% nearly double the year-to-date return of the<b>Technology Select Sector SPDR Fund</b>.</p>\n<p>Over the past decade, periods of time in which tech stocks have lagged value stocks have been short and sweet, but LPL Financial said there are at least three reasons why tech may no longer be leading the market higher for the foreseeable future.</p>\n<ul>\n <li>First, many tech stocks that thrived during the period of social distancing and remote working will face extremely difficult comps and report growth slowdowns in the next several quarters. At the same time, value stocks in the industrials, materials and energy sectors that struggled during the shutdowns will experience the tailwinds of pent-up demand from the reopening.</li>\n <li>Second, the tech sector’s current forward earnings multiple of 25 is relatively high compared to its historical average. In addition, the Russell 1,000 Growth Index is currently valued at a 60% premium to the Russell 1,000 Value Index, its highest premium in the past 20 years.</li>\n <li>Third, the technology sector appears to be rolling over from a technical standpoint. The sector has lagged the S&amp;P 500 since the beginning of September, suggesting technology’s momentum has stalled out.</li>\n</ul>\n<p>“It’s tough not to like technology given the strong fundamentals and rapid pace of innovation from many tech companies,” LPL Equity Strategist Jeffrey Buchbindersaid Tuesday.“But we expect cyclical value sectors like financials, industrials, and materials to fare better the rest of the year as the economy gets a reopening jolt.”</p>\n<p><b>Benzinga’s Take:</b>Just because tech stocks are no longer leading the market higher doesn’t mean investors should dump all their tech holdings for value stocks. There will still certainly be outperformers within the tech sector that are among the largest gainers in the market in 2021, but the easy money that has come from investing in the sector as a whole in the past decade may be much harder to come by in the next several quarters.</p>\n\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":"1142443814","content_text":"So far in 2021, the Vanguard Value Index Fund ETF is up 17.4% nearly double the year-to-date return of theTechnology Select Sector SPDR Fund.\nOver the past decade, periods of time in which tech stocks have lagged value stocks have been short and sweet, but LPL Financial said there are at least three reasons why tech may no longer be leading the market higher for the foreseeable future.\n\nFirst, many tech stocks that thrived during the period of social distancing and remote working will face extremely difficult comps and report growth slowdowns in the next several quarters. At the same time, value stocks in the industrials, materials and energy sectors that struggled during the shutdowns will experience the tailwinds of pent-up demand from the reopening.\nSecond, the tech sector’s current forward earnings multiple of 25 is relatively high compared to its historical average. In addition, the Russell 1,000 Growth Index is currently valued at a 60% premium to the Russell 1,000 Value Index, its highest premium in the past 20 years.\nThird, the technology sector appears to be rolling over from a technical standpoint. The sector has lagged the S&P 500 since the beginning of September, suggesting technology’s momentum has stalled out.\n\n“It’s tough not to like technology given the strong fundamentals and rapid pace of innovation from many tech companies,” LPL Equity Strategist Jeffrey Buchbindersaid Tuesday.“But we expect cyclical value sectors like financials, industrials, and materials to fare better the rest of the year as the economy gets a reopening jolt.”\nBenzinga’s Take:Just because tech stocks are no longer leading the market higher doesn’t mean investors should dump all their tech holdings for value stocks. There will still certainly be outperformers within the tech sector that are among the largest gainers in the market in 2021, but the easy money that has come from investing in the sector as a whole in the past decade may be much harder to come by in the next several quarters.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":152241856,"gmtCreate":1625302095075,"gmtModify":1633941592421,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"How high can the stocks go????&nbsp;","listText":"How high can the stocks go????&nbsp;","text":"How high can the stocks go????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":15,"commentSize":28,"repostSize":0,"link":"https://laohu8.com/post/152241856","repostId":"1165340887","repostType":4,"repost":{"id":"1165340887","kind":"news","pubTimestamp":1625257396,"share":"https://ttm.financial/m/news/1165340887?lang=&edition=full","pubTime":"2021-07-03 04:23","market":"us","language":"en","title":"U.S. stocks sweep to fresh highs after strong jobs report","url":"https://stock-news.laohu8.com/highlight/detail?id=1165340887","media":"yahoo","summary":"Stocks rose Friday to record levels as investors digested a key print on the U.S. labor market recovery, which pointed to a faster pace of payroll gains than expected.The S&P 500 set another record high, kicking off the first sessions of the third quarter on a high note. The blue-chip index logged a seventh straight day of gains in its longest winning streak since August 2020. The Nasdaq also hit all-time intraday and closing highs, and the Dow gained to set its first record high since May 7. Sh","content":"<p>Stocks rose Friday to record levels as investors digested a key print on the U.S. labor market recovery, which pointed to a faster pace of payroll gains than expected.</p>\n<p>The S&amp;P 500 set another record high, kicking off the first sessions of the third quarter on a high note. The blue-chip index logged a seventh straight day of gains in its longest winning streak since August 2020. The Nasdaq also hit all-time intraday and closing highs, and the Dow gained to set its first record high since May 7. Shares of Tesla (TSLA) fluctuated before ending slightly higher after the electric car-maker's second-quarter deliveries hit a new record but still missed analysts' estimates, based on Bloomberg consensus data.</p>\n<p>Investorsconsidered the U.S. Labor Department's June jobs report, the central economic data point that came out this week. The print showed a stronger-than-anticipated acceleration in hiring, with non-farm payrolls rising by 850,000 for a sixth straight monthly gain. The unemployment rate, however, unexpectedly ticked up slightly to 5.9%.</p>\n<p>\"This is the 'Goldilocks report' that the market was looking for today. You had a nice print here of 850,000 jobs being added, wage pressure remaining — I wouldn't call them necessarily contained — but surprising here on the downside versus consensus estimates. So this is telling us right now that economic growth is continuing to accelerate here, the jobs market is continuing to heal,\" Emily Roland, co-chief investment strategist at John Hancock Investment Management, told Yahoo Finance. \"We're making progress here in terms of what the Fed has set out to do, which is in order to get unemployment get down, they're going to let inflation run a little bit hot here. Not too hot, not too cold — this is just what the market wants.\"</p>\n<p>Heading into the report, equities have been buoyed by a slew of strong economic data earlier this week, especially on the labor market.Private payrolls rose by a better-than-expected 692,000 in June,according to ADP, andweekly initial jobless claims improved more than expectedto the lowest level since March 2020. Still, other reports underscored the still-prevalent labor supply challenges impacting companies across industries, with the scarcity capping what has otherwise been a robust economic rebound.</p>\n<p>\"It's really the labor market supply that's putting the brake on hiring right now,\" Luke Tilley, chief economist for Wilmington Trust, told Yahoo Finance. \"But we're pretty optimistic, the market is pretty optimistic, and we think that's a big part of what's driving these indexes higher.\"</p>\n<p>Friday's jobs report will also give markets a suggestion as to the timing of the Federal Reserve's next monetary policy move. For now, the Fed has kept in place both of its key crisis-era policies, or quantitative easing and a near-zero benchmark interest rate. However, an especially strong jobs report and faster-than-expected print on wage growth could justify an earlier-than-currently-telegraphed shift by the central bank.</p>\n<p>“For the first time in years, I’m actually worried about a too hot number causing some kind of volatility or pullback in stocks. That’s because the Fed has signaled they are looking to taper QE,\" Tom Essaye, Sevens Report Research founder,told Yahoo Finance. \"And if we get a really, really strong jobs number and a hot wage number, then markets are going to start to say gee, are they going to taper QE maybe before November, or are they going to taper it more intensely than we thought and in a market that's frankly been very calm and a little bit complacent, that could cause volatility.\"</p>\n<p>Still, the Fed has suggested it would not react rashly to single reports, and has given itself leeway to adjust the timeline of its monetary policy pivots as more data comes in.</p>\n<p>\"I think everyone's counting on the Fed continuing really for the foreseeable future. So I don't see any big changes there coming before 2023,\" Octavio Marenzi, CEO and founder of Opimas,told Yahoo Finance.\"And even then the Fed has hedged its bets very significantly — they've basically said we might in 2023 raise interest rates twice, but then again we might not. So I think the smart money is betting things are going to keep on going, they're going to carry on with a very accommodative monetary policy.\"</p>\n<p>Even with the recent strength for stocks, market strategists say that uncertainty about the future of the Fed’s asset purchases and the upcoming earnings season could keep stocks from making major gains in the near term.</p>\n<p>“The market is still very much concerned about the Fed’s reaction function,” said Max Gokhman, head of asset allocation at Pacific Life Fund Advisors, adding that he thought there was still a lot of slack in the labor market.</p>\n<p>4:01 p.m. ET: Stocks close higher, S&amp;P 500 posts longest winning streak since August 2020</p>\n<p>Here's where markets closed out on Friday:</p>\n<ul>\n <li><p><b>S&amp;P 500 (^GSPC)</b>: +32.51 (+0.75%) to 4,352.45</p></li>\n <li><p><b>Dow (^DJI)</b>: +154.4 (+0.45%) to 34,787.93</p></li>\n <li><p><b>Nasdaq (^IXIC)</b>: +116.95 (+0.81%) to 14,639.33</p></li>\n</ul>","source":"lsy1584348713084","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>U.S. stocks sweep to fresh highs after strong jobs report</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nU.S. stocks sweep to fresh highs after strong jobs report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-03 04:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/stock-market-news-live-updates-july-2-2021-221546079-221120965.html><strong>yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stocks rose Friday to record levels as investors digested a key print on the U.S. labor market recovery, which pointed to a faster pace of payroll gains than expected.\nThe S&P 500 set another record ...</p>\n\n<a href=\"https://finance.yahoo.com/news/stock-market-news-live-updates-july-2-2021-221546079-221120965.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/stock-market-news-live-updates-july-2-2021-221546079-221120965.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165340887","content_text":"Stocks rose Friday to record levels as investors digested a key print on the U.S. labor market recovery, which pointed to a faster pace of payroll gains than expected.\nThe S&P 500 set another record high, kicking off the first sessions of the third quarter on a high note. The blue-chip index logged a seventh straight day of gains in its longest winning streak since August 2020. The Nasdaq also hit all-time intraday and closing highs, and the Dow gained to set its first record high since May 7. Shares of Tesla (TSLA) fluctuated before ending slightly higher after the electric car-maker's second-quarter deliveries hit a new record but still missed analysts' estimates, based on Bloomberg consensus data.\nInvestorsconsidered the U.S. Labor Department's June jobs report, the central economic data point that came out this week. The print showed a stronger-than-anticipated acceleration in hiring, with non-farm payrolls rising by 850,000 for a sixth straight monthly gain. The unemployment rate, however, unexpectedly ticked up slightly to 5.9%.\n\"This is the 'Goldilocks report' that the market was looking for today. You had a nice print here of 850,000 jobs being added, wage pressure remaining — I wouldn't call them necessarily contained — but surprising here on the downside versus consensus estimates. So this is telling us right now that economic growth is continuing to accelerate here, the jobs market is continuing to heal,\" Emily Roland, co-chief investment strategist at John Hancock Investment Management, told Yahoo Finance. \"We're making progress here in terms of what the Fed has set out to do, which is in order to get unemployment get down, they're going to let inflation run a little bit hot here. Not too hot, not too cold — this is just what the market wants.\"\nHeading into the report, equities have been buoyed by a slew of strong economic data earlier this week, especially on the labor market.Private payrolls rose by a better-than-expected 692,000 in June,according to ADP, andweekly initial jobless claims improved more than expectedto the lowest level since March 2020. Still, other reports underscored the still-prevalent labor supply challenges impacting companies across industries, with the scarcity capping what has otherwise been a robust economic rebound.\n\"It's really the labor market supply that's putting the brake on hiring right now,\" Luke Tilley, chief economist for Wilmington Trust, told Yahoo Finance. \"But we're pretty optimistic, the market is pretty optimistic, and we think that's a big part of what's driving these indexes higher.\"\nFriday's jobs report will also give markets a suggestion as to the timing of the Federal Reserve's next monetary policy move. For now, the Fed has kept in place both of its key crisis-era policies, or quantitative easing and a near-zero benchmark interest rate. However, an especially strong jobs report and faster-than-expected print on wage growth could justify an earlier-than-currently-telegraphed shift by the central bank.\n“For the first time in years, I’m actually worried about a too hot number causing some kind of volatility or pullback in stocks. That’s because the Fed has signaled they are looking to taper QE,\" Tom Essaye, Sevens Report Research founder,told Yahoo Finance. \"And if we get a really, really strong jobs number and a hot wage number, then markets are going to start to say gee, are they going to taper QE maybe before November, or are they going to taper it more intensely than we thought and in a market that's frankly been very calm and a little bit complacent, that could cause volatility.\"\nStill, the Fed has suggested it would not react rashly to single reports, and has given itself leeway to adjust the timeline of its monetary policy pivots as more data comes in.\n\"I think everyone's counting on the Fed continuing really for the foreseeable future. So I don't see any big changes there coming before 2023,\" Octavio Marenzi, CEO and founder of Opimas,told Yahoo Finance.\"And even then the Fed has hedged its bets very significantly — they've basically said we might in 2023 raise interest rates twice, but then again we might not. So I think the smart money is betting things are going to keep on going, they're going to carry on with a very accommodative monetary policy.\"\nEven with the recent strength for stocks, market strategists say that uncertainty about the future of the Fed’s asset purchases and the upcoming earnings season could keep stocks from making major gains in the near term.\n“The market is still very much concerned about the Fed’s reaction function,” said Max Gokhman, head of asset allocation at Pacific Life Fund Advisors, adding that he thought there was still a lot of slack in the labor market.\n4:01 p.m. ET: Stocks close higher, S&P 500 posts longest winning streak since August 2020\nHere's where markets closed out on Friday:\n\nS&P 500 (^GSPC): +32.51 (+0.75%) to 4,352.45\nDow (^DJI): +154.4 (+0.45%) to 34,787.93\nNasdaq (^IXIC): +116.95 (+0.81%) to 14,639.33","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1953,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125698760,"gmtCreate":1624670512050,"gmtModify":1633949850959,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Depend how long you want to hold..&nbsp;","listText":"Depend how long you want to hold..&nbsp;","text":"Depend how long you want to hold..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":31,"repostSize":0,"link":"https://laohu8.com/post/125698760","repostId":"1108941456","repostType":4,"isVote":1,"tweetType":1,"viewCount":1615,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128079647,"gmtCreate":1624496649889,"gmtModify":1634005298960,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Merger underway?&nbsp;","listText":"Merger underway?&nbsp;","text":"Merger underway?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":27,"repostSize":0,"link":"https://laohu8.com/post/128079647","repostId":"1129538803","repostType":4,"repost":{"id":"1129538803","kind":"news","pubTimestamp":1624494525,"share":"https://ttm.financial/m/news/1129538803?lang=&edition=full","pubTime":"2021-06-24 08:28","market":"sg","language":"en","title":"Singapore's Keppel, Sembcorp Marine request trading halts","url":"https://stock-news.laohu8.com/highlight/detail?id=1129538803","media":"Reuters","summary":"June 24 (Reuters) - Singapore-listed conglomerate Keppel Corp and rig builder Sembcorp Marine on Thu","content":"<p>June 24 (Reuters) - Singapore-listed conglomerate Keppel Corp and rig builder Sembcorp Marine on Thursday requested the stock exchange in separate filings that their shares be placed on trading halts pending announcements.</p>\n<p>Keppel and Sembcorp Marine were among the world’s biggest oil rig-builders, but a prolonged drop in oil prices and an oversupply of rigs have hit their businesses hard for several years.</p>\n<p>Singapore state investor Temasek Holdings, which is the biggest shareholder in both companies, had scrapped its plans last year to take majority stake in Keppel, following the company’s poor financial results.</p>\n<p>Markets had expected Temasek to lead a much-needed consolidation in the rig-building sector after a deal.</p>\n<p>Earlier this year, Keppel said its struggling offshore and marine (O&amp;M) segment will exit rig-building services, and that the company was also exploring inorganic options for the O&amp;M business.</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>Singapore's Keppel, Sembcorp Marine request trading halts</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: 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\">\nSingapore's Keppel, Sembcorp Marine request trading halts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 08:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/keppel-corp-trading-halt-sembcorp-marine/update-1-singapores-keppel-sembcorp-marine-request-trading-halts-idUSL2N2O536D><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>June 24 (Reuters) - Singapore-listed conglomerate Keppel Corp and rig builder Sembcorp Marine on Thursday requested the stock exchange in separate filings that their shares be placed on trading halts ...</p>\n\n<a href=\"https://www.reuters.com/article/keppel-corp-trading-halt-sembcorp-marine/update-1-singapores-keppel-sembcorp-marine-request-trading-halts-idUSL2N2O536D\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BN4.SI":"吉宝有限公司"},"source_url":"https://www.reuters.com/article/keppel-corp-trading-halt-sembcorp-marine/update-1-singapores-keppel-sembcorp-marine-request-trading-halts-idUSL2N2O536D","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129538803","content_text":"June 24 (Reuters) - Singapore-listed conglomerate Keppel Corp and rig builder Sembcorp Marine on Thursday requested the stock exchange in separate filings that their shares be placed on trading halts pending announcements.\nKeppel and Sembcorp Marine were among the world’s biggest oil rig-builders, but a prolonged drop in oil prices and an oversupply of rigs have hit their businesses hard for several years.\nSingapore state investor Temasek Holdings, which is the biggest shareholder in both companies, had scrapped its plans last year to take majority stake in Keppel, following the company’s poor financial results.\nMarkets had expected Temasek to lead a much-needed consolidation in the rig-building sector after a deal.\nEarlier this year, Keppel said its struggling offshore and marine (O&M) segment will exit rig-building services, and that the company was also exploring inorganic options for the O&M business.","news_type":1,"symbols_score_info":{"BN4.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":1423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123101300,"gmtCreate":1624410966100,"gmtModify":1634006541942,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"The future is on FED hand...&nbsp;","listText":"The future is on FED hand...&nbsp;","text":"The future is on FED hand...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":27,"repostSize":0,"link":"https://laohu8.com/post/123101300","repostId":"2145664330","repostType":4,"repost":{"id":"2145664330","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624403123,"share":"https://ttm.financial/m/news/2145664330?lang=&edition=full","pubTime":"2021-06-23 07:05","market":"us","language":"en","title":"Tech leads way to Wall Street rebound as Powell promises steady hand","url":"https://stock-news.laohu8.com/highlight/detail?id=2145664330","media":"Reuters","summary":"WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Pow","content":"<p>WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.</p>\n<p>Led by the tech-heavy Nasdaq Composite , Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation.</p>\n<p>The Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories.</p>\n<p>The Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&amp;P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27.</p>\n<p>The MSCI world equity index , which tracks shares in 45 nations, rose 4.4 points or 0.62%.</p>\n<p>\"I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone,\" said Patrick Leary, chief market strategist at Incapital. \"The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting.\"</p>\n<p>Testifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a \"broad and inclusive\" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening.</p>\n<p>\"After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far,\" said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank.</p>\n<p>Powell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day.</p>\n<p>The dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733 . It is holding below a two-month high of 92.408 reached on Friday.</p>\n<p>Oil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.</p>\n<p>Brent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019.</p>\n<p>U.S. West Texas Intermediate <a href=\"https://laohu8.com/S/WTI\">$(WTI)$</a> crude fell 60 cents, or 0.8%, to $73.06 a barrel.</p>\n<p>Bitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China.</p>\n<p>Spot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce.</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>Tech leads way to Wall Street rebound as Powell promises steady hand</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: 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\">\nTech leads way to Wall Street rebound as Powell promises steady hand\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-23 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.</p>\n<p>Led by the tech-heavy Nasdaq Composite , Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation.</p>\n<p>The Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories.</p>\n<p>The Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&amp;P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27.</p>\n<p>The MSCI world equity index , which tracks shares in 45 nations, rose 4.4 points or 0.62%.</p>\n<p>\"I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone,\" said Patrick Leary, chief market strategist at Incapital. \"The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting.\"</p>\n<p>Testifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a \"broad and inclusive\" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening.</p>\n<p>\"After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far,\" said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank.</p>\n<p>Powell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day.</p>\n<p>The dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733 . It is holding below a two-month high of 92.408 reached on Friday.</p>\n<p>Oil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.</p>\n<p>Brent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019.</p>\n<p>U.S. West Texas Intermediate <a href=\"https://laohu8.com/S/WTI\">$(WTI)$</a> crude fell 60 cents, or 0.8%, to $73.06 a barrel.</p>\n<p>Bitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China.</p>\n<p>Spot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","POWL":"Powell Industries",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145664330","content_text":"WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.\nLed by the tech-heavy Nasdaq Composite , Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation.\nThe Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories.\nThe Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27.\nThe MSCI world equity index , which tracks shares in 45 nations, rose 4.4 points or 0.62%.\n\"I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone,\" said Patrick Leary, chief market strategist at Incapital. \"The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting.\"\nTestifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a \"broad and inclusive\" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening.\n\"After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far,\" said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank.\nPowell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day.\nThe dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733 . It is holding below a two-month high of 92.408 reached on Friday.\nOil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.\nBrent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019.\nU.S. West Texas Intermediate $(WTI)$ crude fell 60 cents, or 0.8%, to $73.06 a barrel.\nBitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China.\nSpot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"CLmain":0.9,"EURmain":0.9,"GBPmain":0.9,"GCmain":0.9,"JPYmain":0.9,"MGCmain":0.9,"QMmain":0.9,"POWL":0.9}},"isVote":1,"tweetType":1,"viewCount":1673,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168711611,"gmtCreate":1623983644133,"gmtModify":1634024726757,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"//<a href=\"https://laohu8.com/U/3579568649549102\">@KF73</a>: Great company..&nbsp;","listText":"//<a href=\"https://laohu8.com/U/3579568649549102\">@KF73</a>: Great company..&nbsp;","text":"//@KF73: Great company..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":18,"repostSize":0,"link":"https://laohu8.com/post/168711611","repostId":"1175693382","repostType":4,"repost":{"id":"1175693382","kind":"news","pubTimestamp":1623978463,"share":"https://ttm.financial/m/news/1175693382?lang=&edition=full","pubTime":"2021-06-18 09:07","market":"hk","language":"en","title":"Alibaba Stock: The Bottoming Process Looks To Be Forming Already","url":"https://stock-news.laohu8.com/highlight/detail?id=1175693382","media":"seekingalpha","summary":"Alibaba is probably the most undervalued growth stock right now.The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.The short term technical picture may be turning bullish with a potential double bottom price action signal.When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is probably the most undervalued growth stock right now.</li>\n <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>\n <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>\n <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p>\n<p><b>The Technical Thesis</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p>\n<p>Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p>\n<p><b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p>\n<p>BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p>\n<p>Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p>\n<p>When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p>\n<p>Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p>\n<p>One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p>\n<p>Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p>\n<p>Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p>\n<p>We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p>\n<p>BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p>\n<p>Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p>\n<p><b>BABA's Valuations Look Highly Compelling</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p>\n<p>When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p>\n<p>By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p>\n<p><b>Risks to Assumptions</b></p>\n<p>Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p>\n<p><b>Wrapping It All Up</b></p>\n<p>Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Stock: The Bottoming Process Looks To Be Forming Already</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: 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\">\nAlibaba Stock: The Bottoming Process Looks To Be Forming Already\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 09:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short...</p>\n\n<a href=\"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175693382","content_text":"Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short term technical picture may be turning bullish with a potential double bottom price action signal.\nWe discuss the company’s multiple growth drivers and let investors judge for themselves.\n\nYongyuan Dai/iStock Unreleased via Getty Images\nThe Technical Thesis\nSource: TradingView\nAlibaba’s stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.\nBABA's Fundamental Thesis: Rapidly Expanding Growth Drivers\nAnnual GMV. Data source: Company filings\nAnnual e-commerce revenue. Data source: Company filings\nBABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.\nEven though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.\nE-commerce revenue in the U.S. Data source: Statista\nWhen we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.\nPeers EBIT Margin and Projected EBIT Margin. Data source: S&P Capital IQ\nEven though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&A, and therefore skewed its EBIT margin to the downside.\nOne important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of 823M AAC in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only 100M AAC in Q2’C17 as compared to BABA’s 466M AAC in the same period.\nTherefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.\nMarket size of community group buying in China. Data source: iiMedia Research\nEven though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.\nPDD profitability metrics & revenue growth forecast. Data source: S&P Capital IQ\nWe could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.\nChina public cloud spending. Source:China Internet Watch; Canalys\nSize of China public cloud market. Data source: CAICT; Sina.com.cn\nBABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.\nWorldwide public cloud spending. Data source: Gartner\nWorldwide public cloud market share. Source:CnTechPost; Gartner\nTherefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.\nBABA's Valuations Look Highly Compelling\nNTM TEV / EBIT 3Y range.\nEV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&P Capital IQ\nWhen we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.\nPeers EV / EBIT Valuations. Data source: S&P Capital IQ\nBy using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.\nRisks to Assumptions\nNow, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.\nWrapping It All Up\nAlibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":1540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168559848,"gmtCreate":1623979170684,"gmtModify":1634024859444,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Great company..&nbsp;","listText":"Great company..&nbsp;","text":"Great company..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/168559848","repostId":"1175693382","repostType":4,"repost":{"id":"1175693382","kind":"news","pubTimestamp":1623978463,"share":"https://ttm.financial/m/news/1175693382?lang=&edition=full","pubTime":"2021-06-18 09:07","market":"hk","language":"en","title":"Alibaba Stock: The Bottoming Process Looks To Be Forming Already","url":"https://stock-news.laohu8.com/highlight/detail?id=1175693382","media":"seekingalpha","summary":"Alibaba is probably the most undervalued growth stock right now.The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.The short term technical picture may be turning bullish with a potential double bottom price action signal.When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is probably the most undervalued growth stock right now.</li>\n <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>\n <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>\n <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p>\n<p><b>The Technical Thesis</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p>\n<p>Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p>\n<p><b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p>\n<p>BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p>\n<p>Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p>\n<p>When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p>\n<p>Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p>\n<p>One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p>\n<p>Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p>\n<p>Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p>\n<p>We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p>\n<p>BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p>\n<p>Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p>\n<p><b>BABA's Valuations Look Highly Compelling</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p>\n<p>When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p>\n<p>By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p>\n<p><b>Risks to Assumptions</b></p>\n<p>Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p>\n<p><b>Wrapping It All Up</b></p>\n<p>Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Stock: The Bottoming Process Looks To Be Forming Already</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: 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\">\nAlibaba Stock: The Bottoming Process Looks To Be Forming Already\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 09:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short...</p>\n\n<a href=\"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175693382","content_text":"Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short term technical picture may be turning bullish with a potential double bottom price action signal.\nWe discuss the company’s multiple growth drivers and let investors judge for themselves.\n\nYongyuan Dai/iStock Unreleased via Getty Images\nThe Technical Thesis\nSource: TradingView\nAlibaba’s stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.\nBABA's Fundamental Thesis: Rapidly Expanding Growth Drivers\nAnnual GMV. Data source: Company filings\nAnnual e-commerce revenue. Data source: Company filings\nBABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.\nEven though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.\nE-commerce revenue in the U.S. Data source: Statista\nWhen we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.\nPeers EBIT Margin and Projected EBIT Margin. Data source: S&P Capital IQ\nEven though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&A, and therefore skewed its EBIT margin to the downside.\nOne important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of 823M AAC in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only 100M AAC in Q2’C17 as compared to BABA’s 466M AAC in the same period.\nTherefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.\nMarket size of community group buying in China. Data source: iiMedia Research\nEven though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.\nPDD profitability metrics & revenue growth forecast. Data source: S&P Capital IQ\nWe could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.\nChina public cloud spending. Source:China Internet Watch; Canalys\nSize of China public cloud market. Data source: CAICT; Sina.com.cn\nBABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.\nWorldwide public cloud spending. Data source: Gartner\nWorldwide public cloud market share. Source:CnTechPost; Gartner\nTherefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.\nBABA's Valuations Look Highly Compelling\nNTM TEV / EBIT 3Y range.\nEV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&P Capital IQ\nWhen we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.\nPeers EV / EBIT Valuations. Data source: S&P Capital IQ\nBy using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.\nRisks to Assumptions\nNow, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.\nWrapping It All Up\nAlibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163209797,"gmtCreate":1623885162519,"gmtModify":1634026592446,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Interest rate rising still so&nbsp;far away.?","listText":"Interest rate rising still so&nbsp;far away.?","text":"Interest rate rising still so far away.?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/163209797","repostId":"2144713861","repostType":4,"repost":{"id":"2144713861","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623883569,"share":"https://ttm.financial/m/news/2144713861?lang=&edition=full","pubTime":"2021-06-17 06:46","market":"us","language":"en","title":"Wall Street closes lower as Fed officials project rate hikes for 2023","url":"https://stock-news.laohu8.com/highlight/detail?id=2144713861","media":"Reuters","summary":"June 16  - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.The Fed cited an impr","content":"<p>June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.</p>\n<p>New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.</p>\n<p>The Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.</p>\n<p>\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>The benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.</p>\n<p>With inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.</p>\n<p>The Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.</p>\n<p>\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.</p>\n<p>The Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&amp;P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.</p>\n<p>Only two of the S&amp;P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.</p>\n<p>The decliners were led by utilities, materials, and consumer staples.</p>\n<p>Volume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street closes lower as Fed officials project rate hikes for 2023</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: 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\">\nWall Street closes lower as Fed officials project rate hikes for 2023\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-17 06:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.</p>\n<p>New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.</p>\n<p>The Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.</p>\n<p>\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>The benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.</p>\n<p>With inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.</p>\n<p>The Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.</p>\n<p>\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.</p>\n<p>The Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&amp;P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.</p>\n<p>Only two of the S&amp;P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.</p>\n<p>The decliners were led by utilities, materials, and consumer staples.</p>\n<p>Volume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","DXD":"道指两倍做空ETF","PSQ":"纳指反向ETF","DOG":"道指反向ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","UPRO":"三倍做多标普500ETF","TQQQ":"纳指三倍做多ETF","IVV":"标普500指数ETF","QLD":"纳指两倍做多ETF","SDOW":"道指三倍做空ETF-ProShares","SQQQ":"纳指三倍做空ETF","DDM":"道指两倍做多ETF","SH":"标普500反向ETF","SPXU":"三倍做空标普500ETF","SDS":"两倍做空标普500ETF","DJX":"1/100道琼斯","OEX":"标普100","QID":"纳指两倍做空ETF","SSO":"两倍做多标普500ETF","UDOW":"道指三倍做多ETF-ProShares",".DJI":"道琼斯","QQQ":"纳指100ETF","OEF":"标普100指数ETF-iShares"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144713861","content_text":"June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.\nNew projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.\nThe Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.\n\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at BNP Paribas.\nThe benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.\nWith inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.\nThe Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.\n\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.\nThe Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.\nOnly two of the S&P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.\nThe decliners were led by utilities, materials, and consumer staples.\nVolume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.\nThe S&P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 new lows.","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,".DJI":0.9,".IXIC":0.9,".SPX":0.9,"DDM":0.9,"DJX":0.9,"DOG":0.9,"DXD":0.9,"ESmain":0.9,"MNQmain":0.9,"NQmain":0.9,"IVV":0.9,"OEF":0.9,"OEX":0.9,"PSQ":0.9,"QID":0.9,"QLD":0.9,"QQQ":0.9,"SDOW":0.9,"SDS":0.9,"SH":0.9,"SPXU":0.9,"SQQQ":0.9,"SSO":0.9,"TQQQ":0.9,"UDOW":0.9,"UPRO":0.9}},"isVote":1,"tweetType":1,"viewCount":398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184423728,"gmtCreate":1623722210764,"gmtModify":1634029573167,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"To the moon soon?&nbsp;","listText":"To the moon soon?&nbsp;","text":"To the moon soon?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/184423728","repostId":"1126626020","repostType":4,"isVote":1,"tweetType":1,"viewCount":527,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185016043,"gmtCreate":1623626948682,"gmtModify":1634031136813,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Great company in the making..&nbsp;","listText":"Great company in the making..&nbsp;","text":"Great company in the making..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/185016043","repostId":"1128243947","repostType":4,"repost":{"id":"1128243947","kind":"news","pubTimestamp":1623625934,"share":"https://ttm.financial/m/news/1128243947?lang=&edition=full","pubTime":"2021-06-14 07:12","market":"sg","language":"en","title":"Grab CEO Confident SPAC Deal to Close by Year-End After Delay","url":"https://stock-news.laohu8.com/highlight/detail?id=1128243947","media":"Bloomberg","summary":"Company postponed its public debut because of financial audit\nCEO Tan doesn’t rule out secondary sto","content":"<ul>\n <li>Company postponed its public debut because of financial audit</li>\n <li>CEO Tan doesn’t rule out secondary stock listing in Singapore</li>\n</ul>\n<p>Grab Holdings Inc.&nbsp;Chief Executive Officer Anthony Tan said he’s confident the merger of the ride-hailing and food-delivery giant and a U.S. blank-check company will be completed by year-end, following a delay caused by a review of its financials.</p>\n<p>The Singapore-based startup last week&nbsp;postponed&nbsp;the expected completion of the deal with&nbsp;Altimeter Growth Corp.-- set to be one of the largest-ever mergers with a special purpose acquisition company -- to the fourth quarter as it works on an audit of the past three years. When announcing thepactin April, Grab said in an&nbsp;investor presentation&nbsp;its completion target was July.</p>\n<p>“We decided to be proactive,” Tan said in an interview with Bloomberg Television. “We wanted to set the bar in transparent financial reporting. It may have taken a little longer than we expected.”</p>\n<p>Grab, which operates across Southeast Asia, is the latest company to be affected by intensifying scrutiny from U.S. financial regulators on deals involving SPACs. After a frenzy of listings, the SPAC market has been hit by a crackdown by the&nbsp;U.S. Securities and Exchange Commission&nbsp;as well as lawsuits from shareholders, falling stock prices and delays in planned listings.</p>\n<p>The SEC’s scrutiny on how accounting rules apply to a key element of blank-check companies has prompted restatement filings. The regulator has said that SPACs may need to account for warrants -- securities issued to early investors -- as liabilities, rather than as equity.</p>\n<p>Tan, 39, declined to comment when asked if he expects any major restatements by Grab following the financial audit.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01bb3ebf179485a3d6dd7360f84e98f2\" tg-width=\"2000\" tg-height=\"1334\"><span>Anthony TanPhotographer: Akio Kon/Bloomberg</span></p>\n<p>He didn’t rule out a secondary listing in Grab’s home market of Singapore, saying the company considers all options. But he said Grab is “laser-focused” on the Nasdaq listing via the Altimeter merger that values the combination at about $40 billion.</p>\n<p>The CEO said Grab considered a traditional initial public offering, but opted for a deal with Brad Gerstner’s Altimeter after seeing the commitment by the SPAC partner. Altimeter has committed to a three-year lock-up period.</p>\n<p>“They put their money where their mouth is,” he said.</p>\n<p>Some analysts have questioned Grab’s targeted valuation. Matthew Kanterman, an analyst with Bloomberg Intelligence,calculatesthat Grab’s enterprise value-to-sales ratio is more than double those of ride-sharing peers Uber Technologies Inc. and Lyft Inc., “giving it scant wiggle room for missteps.”</p>\n<p>When asked if the $40 billion valuation may be too stretched, Tan declined to give a direct answer.</p>\n<p>“We are just excited about the region,” a large market for digital services, he said. “We are excited that Grab is an early one to represent Southeast Asia on a global stage.”</p>","source":"lsy1584095487587","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>Grab CEO Confident SPAC Deal to Close by Year-End After Delay</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: 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\">\nGrab CEO Confident SPAC Deal to Close by Year-End After Delay\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 07:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-13/grab-ceo-confident-spac-deal-to-close-by-year-end-after-delay?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company postponed its public debut because of financial audit\nCEO Tan doesn’t rule out secondary stock listing in Singapore\n\nGrab Holdings Inc. Chief Executive Officer Anthony Tan said he’s confident ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-13/grab-ceo-confident-spac-deal-to-close-by-year-end-after-delay?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-06-13/grab-ceo-confident-spac-deal-to-close-by-year-end-after-delay?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128243947","content_text":"Company postponed its public debut because of financial audit\nCEO Tan doesn’t rule out secondary stock listing in Singapore\n\nGrab Holdings Inc. Chief Executive Officer Anthony Tan said he’s confident the merger of the ride-hailing and food-delivery giant and a U.S. blank-check company will be completed by year-end, following a delay caused by a review of its financials.\nThe Singapore-based startup last week postponed the expected completion of the deal with Altimeter Growth Corp.-- set to be one of the largest-ever mergers with a special purpose acquisition company -- to the fourth quarter as it works on an audit of the past three years. When announcing thepactin April, Grab said in an investor presentation its completion target was July.\n“We decided to be proactive,” Tan said in an interview with Bloomberg Television. “We wanted to set the bar in transparent financial reporting. It may have taken a little longer than we expected.”\nGrab, which operates across Southeast Asia, is the latest company to be affected by intensifying scrutiny from U.S. financial regulators on deals involving SPACs. After a frenzy of listings, the SPAC market has been hit by a crackdown by the U.S. Securities and Exchange Commission as well as lawsuits from shareholders, falling stock prices and delays in planned listings.\nThe SEC’s scrutiny on how accounting rules apply to a key element of blank-check companies has prompted restatement filings. The regulator has said that SPACs may need to account for warrants -- securities issued to early investors -- as liabilities, rather than as equity.\nTan, 39, declined to comment when asked if he expects any major restatements by Grab following the financial audit.\nAnthony TanPhotographer: Akio Kon/Bloomberg\nHe didn’t rule out a secondary listing in Grab’s home market of Singapore, saying the company considers all options. But he said Grab is “laser-focused” on the Nasdaq listing via the Altimeter merger that values the combination at about $40 billion.\nThe CEO said Grab considered a traditional initial public offering, but opted for a deal with Brad Gerstner’s Altimeter after seeing the commitment by the SPAC partner. Altimeter has committed to a three-year lock-up period.\n“They put their money where their mouth is,” he said.\nSome analysts have questioned Grab’s targeted valuation. Matthew Kanterman, an analyst with Bloomberg Intelligence,calculatesthat Grab’s enterprise value-to-sales ratio is more than double those of ride-sharing peers Uber Technologies Inc. and Lyft Inc., “giving it scant wiggle room for missteps.”\nWhen asked if the $40 billion valuation may be too stretched, Tan declined to give a direct answer.\n“We are just excited about the region,” a large market for digital services, he said. “We are excited that Grab is an early one to represent Southeast Asia on a global stage.”","news_type":1,"symbols_score_info":{"AGC":0.9}},"isVote":1,"tweetType":1,"viewCount":323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186323538,"gmtCreate":1623474521924,"gmtModify":1634032629650,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Like to be an investor, but when share price rise too quickly will&nbsp;become speculator.&nbsp;","listText":"Like to be an investor, but when share price rise too quickly will&nbsp;become speculator.&nbsp;","text":"Like to be an investor, but when share price rise too quickly will become speculator.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/186323538","repostId":"1147474880","repostType":4,"repost":{"id":"1147474880","kind":"news","pubTimestamp":1623470168,"share":"https://ttm.financial/m/news/1147474880?lang=&edition=full","pubTime":"2021-06-12 11:56","market":"us","language":"en","title":"Investor, Trader, Speculator: Which One Are You?","url":"https://stock-news.laohu8.com/highlight/detail?id=1147474880","media":"The Wall Street Journal","summary":"Understanding the difference between speculation and investing is essential to avoiding reckless ris","content":"<blockquote>\n Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n</blockquote>\n<p>I’ve had it.</p>\n<p>The Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.</p>\n<p>If you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.</p>\n<p>Whenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.</p>\n<p>You’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.</p>\n<p>Of course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%<i>are</i>investors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.</p>\n<p>An investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.</p>\n<p>The word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.</p>\n<p>Nevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”</p>\n<p>He wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)</p>\n<p>“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”</p>\n<p>Graham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.</p>\n<p>In that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”</p>\n<p>However, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”</p>\n<p>Most investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.</p>\n<p>If you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.</p>\n<p>Take speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.</p>\n<p>I think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.</p>\n<p>“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”</p>\n<p>I hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.</p>\n<p>Calling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.</p>\n<p>Ina recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”</p>\n<p>In her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.</p>\n<p>The currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)</p>\n<p>PAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.</p>\n<p>Ms. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”</p>\n<p>In Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.</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>Investor, Trader, Speculator: Which One Are You?</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: 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\">\nInvestor, Trader, Speculator: Which One Are You?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of ...</p>\n\n<a href=\"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147474880","content_text":"Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.\nIf you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.\nWhenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.\nYou’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.\nOf course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%areinvestors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.\nAn investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.\nThe word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.\nNevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”\nHe wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)\n“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”\nGraham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.\nIn that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”\nHowever, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”\nMost investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.\nIf you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.\nTake speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.\nI think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.\n“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”\nI hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.\nCalling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.\nIna recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”\nIn her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.\nThe currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)\nPAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.\nMs. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”\nIn Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":461,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181110808,"gmtCreate":1623377905404,"gmtModify":1634033995794,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"How will Apple EV look like?&nbsp;","listText":"How will Apple EV look like?&nbsp;","text":"How will Apple EV look like?","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":7,"commentSize":29,"repostSize":0,"link":"https://laohu8.com/post/181110808","repostId":"1147547408","repostType":4,"isVote":1,"tweetType":1,"viewCount":674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":189556022,"gmtCreate":1623282849766,"gmtModify":1634035068357,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Interest rate upside cycle waiting?&nbsp;","listText":"Interest rate upside cycle waiting?&nbsp;","text":"Interest rate upside cycle waiting?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/189556022","repostId":"1193607718","repostType":4,"repost":{"id":"1193607718","kind":"news","pubTimestamp":1623282335,"share":"https://ttm.financial/m/news/1193607718?lang=&edition=full","pubTime":"2021-06-10 07:45","market":"sh","language":"en","title":"Hot inflation may have become scorching in May and is expected to hit a 28-year high","url":"https://stock-news.laohu8.com/highlight/detail?id=1193607718","media":"cnbc","summary":"Inflation has been warming up this spring, and it's expected to hit historical levels for the month ","content":"<div>\n<p>Inflation has been warming up this spring, and it's expected to hit historical levels for the month of May.\nThe consensus forecast for the core consumer price index, which excludes food and energy, is...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/hot-inflation-became-scorching-in-may-and-is-expected-to-hit-a-28-year-high.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Hot inflation may have become scorching in May and is expected to hit a 28-year high</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nHot inflation may have become scorching in May and is expected to hit a 28-year high\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-10 07:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/09/hot-inflation-became-scorching-in-may-and-is-expected-to-hit-a-28-year-high.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Inflation has been warming up this spring, and it's expected to hit historical levels for the month of May.\nThe consensus forecast for the core consumer price index, which excludes food and energy, is...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/hot-inflation-became-scorching-in-may-and-is-expected-to-hit-a-28-year-high.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/06/09/hot-inflation-became-scorching-in-may-and-is-expected-to-hit-a-28-year-high.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1193607718","content_text":"Inflation has been warming up this spring, and it's expected to hit historical levels for the month of May.\nThe consensus forecast for the core consumer price index, which excludes food and energy, is 3.5% on a year-over-year basis, according to Dow Jones. That's the fastest annual pace in 28 years.\nEconomists expect both core and headline CPI rose by 0.5% in May. Headline CPI is expected to jump 4.7% year-over-year, the highest rate since sky high energy prices spiked inflation readings in the fall of 2008.\n\"It will be hot. It could be up to 5%,\" said Diane Swonk, chief economist at Grant Thornton. \"The worst of the heat is going to be the second quarter in terms of headline. It will be interesting to see what it looks like when you strip out the extremes. I think we're still going to have a warm summer when you have surge pricing kicking in for everything from airfares to hotels.\"\nA customer wearing a protective mask loads lumber onto a cart at a Home Depot store in Pleasanton, California, on Monday, Feb. 22, 2021.David Paul Morris | Bloomberg | Getty Images\nMay CPI is expected at 8:30 a.m. ET Thursday and comes as investors are debating whether the period of rising prices is transient, as the Fed believes, or more pervasive and persistent. If it's the latter, the concern is the central bank would then be forced to back away from its easy policies that have helped keep interest rates low, boosted liquidity and provided fuel for the stock market's gains.\nGreater expectations\nMark Zandi, chief economist at Moody's Analytics, said he expects a 0.6% jump in May core CPI. \"The year-over-year growth rate would be 3.65%,\" he said. \"The last time it was this high was July 1992.\"\nThe last time the core CPI was above the consensus expectation of 3.5% was February 1993.\nSwonk expects headline inflation to reach 4.9% year-over-year. That compares to a4.2% headline pace in April.Core inflation was 3% year-over-year in April, a level it has only occasionally reached in the past two decades.\n\"I am worried about rent and owners' equivalent rent because it should go up. It had decelerated,\" she said. Shelter is more than 30% of CPI, and rent costs have bottomed in some cities, Swonk added. \"The issue is it could have longer legs and keep overall inflation measures buoyed more than people expect.\"\n\nThe Fed has said it would begin the first phase of easing when it believes the economy and labor market is strong enough. Central bank officials have said they will tolerate inflation in an average range around their 2% target.\nSome strategists expect the Fed to begin talking about tapering its $120 billion a month in late August when it meets at theJackson Hole Economic Symposium. It is then expected to wait several months and begin to pare back purchases in December or early next year.\nThat would then lead to a long period of the Fed slowly reducing its bond purchases before it actually moves to raise interest rates. Most market pros do not expect the Fed to hike interest rates before 2023.\nGoing beyond the expected price increases\nWells Fargo bond strategists say they will be looking at the data for trends that go beyond the obvious price hikes associated with the economic reopening.\n\"Airfares, hotels and event admissions all registered big price increases and contributed to the spike in CPI inflation in April,\" they wrote in a report. \"But these categories are merely recovering declines seen last year, and the Fed is unlikely to be swayed if their prices continue to accelerate. Rent, owners' equivalent rent and medical care services (collectively 50% of the core CPI basket) inflation are muted.\"\nGrant Thornton's Swonk said the surge of inflation is being driven by pent-up demand, with consumers rushing to return to normal.\n\"The biggest thing I worry about longer term is whether or not what we're seeing a reaction to friction upon re-entry, before you hit the cold waters and reach splashdown, it gets hot,\" she said.\nEconomists are carefully eyeing wages, which have been rising. They do not expect the picture to become clear for several months as workers are expected to come back to the labor force. The559,000 jobs added in Maywas lower than expected, but the pace of hiring is expected to pick up as September approaches when federal unemployment benefits run out and schools reopen, allowing parents to return to work.\nInflation: Good to some degree\nFor the stock market, some inflation is good, especially for those companies that can meet rising costs with higher prices for goods. Inflation becomes negative when it gets too hot and erodes margins.\n\"These near-term readings are not going to tell us anything about whether the inflation readings are going to be anything but transitory,\" said Ron Temple, head of U.S. equities and co-head of multi-asset investing at Lazard Asset Management. He said it will be several more months before it's clear whether the period of higher prices is temporary.\nTemple said a hot CPI reading — one that's much higher than expected — would be a negative for stocks and bonds. Bond yields rise when prices fall.\n\"I think inflation is the thing people want to be afraid of … I think it's a misplaced fear. I think the worst thing we could have is deflation,\" he said.\nTemple said he does not expect a few months of rising inflation to destabilize the stock market, but he said there are bond market pros who think the Fed could move sooner on unwinding its bond program.\n\"I think the Fed will keep its nerve. They've made it clear. There's been a consistency of commentary. I think [Fed Chairman] Jay Powell's done a good job discussing 'transitory,'\" he said.\nMarket-based inflation expectations have been falling recently, and the 10-year Treasury yield fell below the key 1.5% Wednesday.\nGeorge Goncalves, head of U.S. macro strategy at MUFG, said investors were looking for an explanation for the surprise drop in yields, but he said it could simply be that the market is not looking for the pace of inflation or economic growth to stay at current levels.\n\"It's got to be short-covering. I think what we're experiencing is a rethinking of the narrative at the same time,\" he said. \"We're living through the peak of the activity, the peak of the inflation and markets are supposed to be forward looking.\"","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180115747,"gmtCreate":1623194657789,"gmtModify":1634036045811,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Cloud the future of MSFT?&nbsp;","listText":"Cloud the future of MSFT?&nbsp;","text":"Cloud the future of MSFT?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/180115747","repostId":"1193765977","repostType":4,"isVote":1,"tweetType":1,"viewCount":772,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117369945,"gmtCreate":1623117461687,"gmtModify":1634036756899,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"When will tapering happen?&nbsp;","listText":"When will tapering happen?&nbsp;","text":"When will tapering happen?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/117369945","repostId":"1113815269","repostType":4,"repost":{"id":"1113815269","kind":"news","pubTimestamp":1623109439,"share":"https://ttm.financial/m/news/1113815269?lang=&edition=full","pubTime":"2021-06-08 07:43","market":"us","language":"en","title":"The Fed is in early stages of a campaign to prepare markets for tapering its asset purchases","url":"https://stock-news.laohu8.com/highlight/detail?id=1113815269","media":"cnbc","summary":"The Federal Reserve is in the early stages of a campaign to ready markets for reducing its $120 bill","content":"<div>\n<p>The Federal Reserve is in the early stages of a campaign to ready markets for reducing its $120 billion in monthly asset purchases to stimulate the economy.Comments by Fed officials in the past ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/07/the-fed-is-in-the-early-stages-of-a-campaign-to-prepare-markets-for-tapering-its-asset-purchases.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Fed is in early stages of a campaign to prepare markets for tapering its asset purchases</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: 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\">\nThe Fed is in early stages of a campaign to prepare markets for tapering its asset purchases\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-08 07:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/07/the-fed-is-in-the-early-stages-of-a-campaign-to-prepare-markets-for-tapering-its-asset-purchases.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Federal Reserve is in the early stages of a campaign to ready markets for reducing its $120 billion in monthly asset purchases to stimulate the economy.Comments by Fed officials in the past ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/07/the-fed-is-in-the-early-stages-of-a-campaign-to-prepare-markets-for-tapering-its-asset-purchases.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/06/07/the-fed-is-in-the-early-stages-of-a-campaign-to-prepare-markets-for-tapering-its-asset-purchases.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1113815269","content_text":"The Federal Reserve is in the early stages of a campaign to ready markets for reducing its $120 billion in monthly asset purchases to stimulate the economy.Comments by Fed officials in the past several weeks suggest the issue of tapering looks likely to be discussed as soon as the Federal Open Markets Committee meeting next week, and the Fed may be on track to begin asset reductions later this year or early next year.At least five Fed officials have publicly commented on the likelihood of those discussions in recent weeks, including Patrick Harker, president of the of the Federal Reserve Bank of Philadelphia, Robert Kaplan of Dallas, Fed Vice Chair for bank supervision Randal Quarles and Cleveland Fed President Loretta Mester, whose comments to CNBC came after Friday’s monthly jobs report.“As the economy continues to improve, and we see it in the data, and we get closer to our goals … we’re going to have discussions about our stance of policy overall, including our asset purchase programs and including our interest rates,” Mester said Friday.While the discussion may take place, an announcement of a decision to actually taper would be several months later, perhaps in late summer or early fall. That announcement would then put the beginning of the asset reduction further out, perhaps by year-end or early next year. Since the Fed will taper its purchases, that is, reduce the amount it buys by some amount each month, that timeline would still see the Fed purchasing billions of dollars of assets well into 2022, though at an increasingly slower pace.All of that is contingent on how the economy rebounds from the pandemic. The recent pace of new job growth, averaging 541,000 payrolls over the past three months, and the recent decline in the unemployment rate look to be more or less in line with Fed expectations. Most Fed officials continue to believe that the recent spurt of inflation will prove temporary, so even big monthly gains are unlikely to speed up the plan, at least for a time.Avoiding a tantrumWhile the decision to taper is based on economic data, it eventually will be converted by Fed officials to calendar dates, though, as the Fed has done in the past, still linked to the data.Behind the glacial pace of reducing asset purchases is a deliberate attempt to avoid another so-called taper tantrum, the sharp spike in bond yields in 2013 that came after Fed Chairman Ben Bernanke hinted asset purchases could wind down.One view inside the Fed is that the taper tantrum occurred because it failed to adequately separate in the market’s mind the timelines for hiking interest rates and for reducing asset purchases. This time, the Fed is creating a long runway for tapering, making clear that rate increases only come after this process. It also has set a higher standard of economic improvement required for rate increases than it has for asset purchase reductions.Quarles late last month made that separation clear, saying: “It will become important for the FOMC to begin discussing our plans to adjust the pace of asset purchases at upcoming meetings.” But, he added,  “in contrast, the time for discussing a change in the federal funds rate remains far in the future.”At the moment, fixed income markets appear to be giving the Fed leeway to follow a gradual timeline. The 10-year note yield has been anchored around 1.60 percent for nearly four months, and the 2-year note rate has hovered around 15 basis points (0.15%). Fed Funds futures do not fully price in a 25-basis point rate hike from the Fed until early 2023.Fed officials expected volatility around any announcement that it will reduce asset purchases. And it’s clear yields could rise as a result. It’s possible markets may become more aggressive in pricing in rate hikes. The measure of success for the Fed’s current efforts will come if policymakers can move toward reducing asset purchases but see only modest changes in expectations for rate increases.The key risk now is that the Fed, in trying to avoid a taper tantrum, maintains easy monetary policy too long, allowing inflation to become a permanent, rather than temporary, problem.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":453,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115511695,"gmtCreate":1623022378017,"gmtModify":1634096253899,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579568649549102","authorIdStr":"3579568649549102"},"themes":[],"htmlText":"Any other options?&nbsp;","listText":"Any other options?&nbsp;","text":"Any other options?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/115511695","repostId":"1102972710","repostType":4,"repost":{"id":"1102972710","kind":"news","pubTimestamp":1622948427,"share":"https://ttm.financial/m/news/1102972710?lang=&edition=full","pubTime":"2021-06-06 11:00","market":"us","language":"en","title":"Micron: A Strong Chip Shortage Play","url":"https://stock-news.laohu8.com/highlight/detail?id=1102972710","media":"seekingalpha","summary":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favo","content":"<p><b>Summary</b></p>\n<ul>\n <li>Micron's four business units have sizable TAMs.</li>\n <li>Both the DRAM and NAND industries have favourable outlooks.</li>\n <li>Industry tailwinds point to pricing power and expanding margins.</li>\n <li>The strong financials of the company will serve them well in the current high-volatility environment.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b87dd8114b0aa47fdcdd26e5dc40d5ee\" tg-width=\"1536\" tg-height=\"896\"><span>Photo by vchal/iStock via Getty Images</span></p>\n<p>Micron Technology(NASDAQ:MU)&nbsp;is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as&nbsp;auto manufacturers forced to slash production.</p>\n<p>Semiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.</p>\n<p><b>Business Model</b></p>\n<p>Micron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even&nbsp;3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:</p>\n<blockquote>\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n</blockquote>\n<p>As promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.</p>\n<p><b>DRAM and NAND</b></p>\n<p>DRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.</p>\n<p>It is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.</p>\n<p>The DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with&nbsp;23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung &amp; SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the&nbsp;largest consumer of DRAMs&nbsp;by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17c2b471dd41b837a1ad129c180fa0b9\" tg-width=\"640\" tg-height=\"368\"><span>Source: Statista Global DRAM Market Share</span></p>\n<p>As of the latest fiscal quarter 21, DRAM sales represented&nbsp;71.26%&nbsp;of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.</p>\n<p>Historically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/371a886343d14f2ba3407afa02804db5\" tg-width=\"640\" tg-height=\"526\"><span>Source: Author's Compilations</span></p>\n<p>TAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.</p>\n<p>Micron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful&nbsp;26.46%&nbsp;as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.</p>\n<p>Likewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has&nbsp;announced plans to acquire&nbsp;Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2b8da20e0246607003c65afa09ff3998\" tg-width=\"640\" tg-height=\"403\"><span>Source: Statista Global NAND Flash Market Share</span></p>\n<p>Despite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a&nbsp;similar bid for $30 BN&nbsp;to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e220cb5c3b6dea5d0f84bde25765bfa\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc8e8ee498e5b2469b09b1605b2ef98a\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p>The $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap &amp; EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather&nbsp;long history of acquisitions&nbsp;having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory &amp; Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.</p>\n<p>If successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.</p>\n<p><b>More Conviction</b></p>\n<p>For more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8953a521354fd97f74d0f8694e0a0ee6\" tg-width=\"640\" tg-height=\"204\"><span>Source: Micron's Q2 Investor Presentation</span></p>\n<p>As of FQ-2 21, CNBUs (Compute &amp; Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM &amp; NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the&nbsp;10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.</p>\n<p>MBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to&nbsp;Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.</p>\n<p>However, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to&nbsp;50% market share&nbsp;in the space, according to Trendforce, a world leading market intelligence provider.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e31402367246f258d67658ada2e3a41e\" tg-width=\"640\" tg-height=\"229\"><span>Source: Micron's Automotive Division</span></p>\n<p>This is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from&nbsp;DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than&nbsp;30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs &amp; AVs.</p>\n<p>As it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S &amp; X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the&nbsp;next generation of Tesla Models will have even more at 20GB.</p>\n<p>The growing automobile memory space where Micron has maintained its underdog&nbsp;30-year leadership&nbsp;will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.</p>\n<p><b>Industry Tailwinds</b></p>\n<p>Moving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.</p>\n<p>For a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.</p>\n<p>When the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.</p>\n<p>When firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.</p>\n<p>Looking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/18c32366202010d3411e7888fcae587f\" tg-width=\"640\" tg-height=\"393\"><span>Source: Author's Compilations</span></p>\n<p>2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/060cf4c42cb775ea2a1d35cbd3b796e1\" tg-width=\"640\" tg-height=\"261\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p>The industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by&nbsp;Trendforce:</p>\n<blockquote>\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 &amp; they already rose 3-8% in the first quarter of 2021.\n</blockquote>\n<p>Call it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff33c479a31ba4e4ee56a91be2d78318\" tg-width=\"456\" tg-height=\"111\"><span>Source: Seeking Alpha</span></p>\n<p>In the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.</p>\n<p><b>Financials</b></p>\n<p>Q1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/07766c05dc0d46a9660c290084da2442\" tg-width=\"640\" tg-height=\"209\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9d3f14c1b13fc41c6c44c29f8a947fb\" tg-width=\"451\" tg-height=\"145\"><span>Source: Seeking Alpha</span></p>\n<p>Management also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on&nbsp;6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.</p>\n<p>As mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fe3bd33eeed49eebb87776a32f152e41\" tg-width=\"640\" tg-height=\"137\"><span>Source: Tikr</span></p>\n<p>Next, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/14d722c6a10e22e26e12a82be0a69481\" tg-width=\"640\" tg-height=\"125\"><span>Source: Tikr</span></p>\n<p>Although Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.</p>\n<p>Analysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.</p>\n<p>FCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.</p>\n<p>Currently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.</p>\n<p><b>Risks</b></p>\n<p>No matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.</p>\n<p>With the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.</p>\n<p>Government subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing&nbsp;prosecution&nbsp;for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.</p>\n<p>Changing industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.</p>\n<p>Other potential risks may include further unexpected impacts to Micron's power plants such as&nbsp;outages and floods&nbsp;similar to what happened in Taiwan last year.</p>\n<p><b>Valuation</b></p>\n<p>Finally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00bc87a283f9420f33b1c7c52ad2f344\" tg-width=\"640\" tg-height=\"384\"><span>A005930 refers to Samsung and A000660 refers to SK Hynix</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb98c272aeec7c9aefdab00d22955f64\" tg-width=\"611\" tg-height=\"367\"><span>Source: Author's Compilations</span></p>\n<p>We can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.</p>\n<p><img src=\"https://static.tigerbbs.com/c4effc3d3acfdad8726c391bb0872880\" tg-width=\"640\" tg-height=\"229\"></p>\n<p>Keeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.</p>\n<p>If I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.</p>\n<p>Since I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&amp;P 500.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e6626b3363e839c178999a3d2b48940\" tg-width=\"640\" tg-height=\"46\"><span>Source: Tikr</span></p>\n<p>The current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the&nbsp;semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea91b1b8e3f714b2441d27be59a6c538\" tg-width=\"640\" tg-height=\"64\"><span>Source: CSI Market</span></p>\n<p>Micron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9c6db0e4e02a94b2ed6ad9df84767cc9\" tg-width=\"640\" tg-height=\"110\"><span>Source: Seeking Alpha</span></p>\n<p><b>Final Takeaways</b></p>\n<p>Based on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.</p>\n<p>In this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.</p>\n<p>I have noticed that there has been some&nbsp;concerns&nbsp;regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.</p>\n<p>I personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production &amp; CAPEX levels can shift the tide quickly.</p>\n<p>As a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.</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>Micron: A Strong Chip Shortage Play</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: 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\">\nMicron: A Strong Chip Shortage Play\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong ...</p>\n\n<a href=\"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技"},"source_url":"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102972710","content_text":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong financials of the company will serve them well in the current high-volatility environment.\n\nPhoto by vchal/iStock via Getty Images\nMicron Technology(NASDAQ:MU) is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as auto manufacturers forced to slash production.\nSemiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.\nBusiness Model\nMicron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even 3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:\n\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n\nAs promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.\nDRAM and NAND\nDRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.\nIt is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.\nThe DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with 23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung & SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the largest consumer of DRAMs by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.\nSource: Statista Global DRAM Market Share\nAs of the latest fiscal quarter 21, DRAM sales represented 71.26% of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.\nHistorically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.\nSource: Author's Compilations\nTAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.\nMicron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful 26.46% as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.\nLikewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has announced plans to acquire Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.\nSource: Statista Global NAND Flash Market Share\nDespite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a similar bid for $30 BN to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.\nSource: Author's Compilations\nSource: Author's Compilations\nThe $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap & EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather long history of acquisitions having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory & Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.\nIf successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.\nMore Conviction\nFor more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.\nSource: Micron's Q2 Investor Presentation\nAs of FQ-2 21, CNBUs (Compute & Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM & NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the 10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.\nMBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.\nHowever, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to 50% market share in the space, according to Trendforce, a world leading market intelligence provider.\nSource: Micron's Automotive Division\nThis is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than 30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs & AVs.\nAs it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S & X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the next generation of Tesla Models will have even more at 20GB.\nThe growing automobile memory space where Micron has maintained its underdog 30-year leadership will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.\nIndustry Tailwinds\nMoving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.\nFor a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.\nWhen the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.\nWhen firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.\nLooking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.\nSource: Author's Compilations\n2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.\nSource: Micron FQ-2 Investor Presentation\nThe industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by Trendforce:\n\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 & they already rose 3-8% in the first quarter of 2021.\n\nCall it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.\nSource: Seeking Alpha\nIn the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.\nFinancials\nQ1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.\nSource: Micron FQ-2 Investor Presentation\nSource: Seeking Alpha\nManagement also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on 6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.\nAs mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.\nSource: Tikr\nNext, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.\nSource: Tikr\nAlthough Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.\nAnalysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.\nFCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.\nCurrently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.\nRisks\nNo matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.\nWith the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.\nGovernment subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing prosecution for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.\nChanging industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.\nOther potential risks may include further unexpected impacts to Micron's power plants such as outages and floods similar to what happened in Taiwan last year.\nValuation\nFinally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.\nA005930 refers to Samsung and A000660 refers to SK Hynix\nSource: Author's Compilations\nWe can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.\n\nKeeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.\nIf I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.\nSince I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&P 500.\nSource: Tikr\nThe current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.\nSource: CSI Market\nMicron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.\nSource: Seeking Alpha\nFinal Takeaways\nBased on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.\nIn this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.\nI have noticed that there has been some concerns regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.\nI personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production & CAPEX levels can shift the tide quickly.\nAs a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.","news_type":1,"symbols_score_info":{"MU":0.9}},"isVote":1,"tweetType":1,"viewCount":428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":152241856,"gmtCreate":1625302095075,"gmtModify":1633941592421,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"How high can the stocks go????&nbsp;","listText":"How high can the stocks go????&nbsp;","text":"How high can the stocks go????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":15,"commentSize":28,"repostSize":0,"link":"https://laohu8.com/post/152241856","repostId":"1165340887","repostType":4,"repost":{"id":"1165340887","kind":"news","pubTimestamp":1625257396,"share":"https://ttm.financial/m/news/1165340887?lang=&edition=full","pubTime":"2021-07-03 04:23","market":"us","language":"en","title":"U.S. stocks sweep to fresh highs after strong jobs report","url":"https://stock-news.laohu8.com/highlight/detail?id=1165340887","media":"yahoo","summary":"Stocks rose Friday to record levels as investors digested a key print on the U.S. labor market recovery, which pointed to a faster pace of payroll gains than expected.The S&P 500 set another record high, kicking off the first sessions of the third quarter on a high note. The blue-chip index logged a seventh straight day of gains in its longest winning streak since August 2020. The Nasdaq also hit all-time intraday and closing highs, and the Dow gained to set its first record high since May 7. Sh","content":"<p>Stocks rose Friday to record levels as investors digested a key print on the U.S. labor market recovery, which pointed to a faster pace of payroll gains than expected.</p>\n<p>The S&amp;P 500 set another record high, kicking off the first sessions of the third quarter on a high note. The blue-chip index logged a seventh straight day of gains in its longest winning streak since August 2020. The Nasdaq also hit all-time intraday and closing highs, and the Dow gained to set its first record high since May 7. Shares of Tesla (TSLA) fluctuated before ending slightly higher after the electric car-maker's second-quarter deliveries hit a new record but still missed analysts' estimates, based on Bloomberg consensus data.</p>\n<p>Investorsconsidered the U.S. Labor Department's June jobs report, the central economic data point that came out this week. The print showed a stronger-than-anticipated acceleration in hiring, with non-farm payrolls rising by 850,000 for a sixth straight monthly gain. The unemployment rate, however, unexpectedly ticked up slightly to 5.9%.</p>\n<p>\"This is the 'Goldilocks report' that the market was looking for today. You had a nice print here of 850,000 jobs being added, wage pressure remaining — I wouldn't call them necessarily contained — but surprising here on the downside versus consensus estimates. So this is telling us right now that economic growth is continuing to accelerate here, the jobs market is continuing to heal,\" Emily Roland, co-chief investment strategist at John Hancock Investment Management, told Yahoo Finance. \"We're making progress here in terms of what the Fed has set out to do, which is in order to get unemployment get down, they're going to let inflation run a little bit hot here. Not too hot, not too cold — this is just what the market wants.\"</p>\n<p>Heading into the report, equities have been buoyed by a slew of strong economic data earlier this week, especially on the labor market.Private payrolls rose by a better-than-expected 692,000 in June,according to ADP, andweekly initial jobless claims improved more than expectedto the lowest level since March 2020. Still, other reports underscored the still-prevalent labor supply challenges impacting companies across industries, with the scarcity capping what has otherwise been a robust economic rebound.</p>\n<p>\"It's really the labor market supply that's putting the brake on hiring right now,\" Luke Tilley, chief economist for Wilmington Trust, told Yahoo Finance. \"But we're pretty optimistic, the market is pretty optimistic, and we think that's a big part of what's driving these indexes higher.\"</p>\n<p>Friday's jobs report will also give markets a suggestion as to the timing of the Federal Reserve's next monetary policy move. For now, the Fed has kept in place both of its key crisis-era policies, or quantitative easing and a near-zero benchmark interest rate. However, an especially strong jobs report and faster-than-expected print on wage growth could justify an earlier-than-currently-telegraphed shift by the central bank.</p>\n<p>“For the first time in years, I’m actually worried about a too hot number causing some kind of volatility or pullback in stocks. That’s because the Fed has signaled they are looking to taper QE,\" Tom Essaye, Sevens Report Research founder,told Yahoo Finance. \"And if we get a really, really strong jobs number and a hot wage number, then markets are going to start to say gee, are they going to taper QE maybe before November, or are they going to taper it more intensely than we thought and in a market that's frankly been very calm and a little bit complacent, that could cause volatility.\"</p>\n<p>Still, the Fed has suggested it would not react rashly to single reports, and has given itself leeway to adjust the timeline of its monetary policy pivots as more data comes in.</p>\n<p>\"I think everyone's counting on the Fed continuing really for the foreseeable future. So I don't see any big changes there coming before 2023,\" Octavio Marenzi, CEO and founder of Opimas,told Yahoo Finance.\"And even then the Fed has hedged its bets very significantly — they've basically said we might in 2023 raise interest rates twice, but then again we might not. So I think the smart money is betting things are going to keep on going, they're going to carry on with a very accommodative monetary policy.\"</p>\n<p>Even with the recent strength for stocks, market strategists say that uncertainty about the future of the Fed’s asset purchases and the upcoming earnings season could keep stocks from making major gains in the near term.</p>\n<p>“The market is still very much concerned about the Fed’s reaction function,” said Max Gokhman, head of asset allocation at Pacific Life Fund Advisors, adding that he thought there was still a lot of slack in the labor market.</p>\n<p>4:01 p.m. ET: Stocks close higher, S&amp;P 500 posts longest winning streak since August 2020</p>\n<p>Here's where markets closed out on Friday:</p>\n<ul>\n <li><p><b>S&amp;P 500 (^GSPC)</b>: +32.51 (+0.75%) to 4,352.45</p></li>\n <li><p><b>Dow (^DJI)</b>: +154.4 (+0.45%) to 34,787.93</p></li>\n <li><p><b>Nasdaq (^IXIC)</b>: +116.95 (+0.81%) to 14,639.33</p></li>\n</ul>","source":"lsy1584348713084","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nU.S. stocks sweep to fresh highs after strong jobs report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-03 04:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/stock-market-news-live-updates-july-2-2021-221546079-221120965.html><strong>yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stocks rose Friday to record levels as investors digested a key print on the U.S. labor market recovery, which pointed to a faster pace of payroll gains than expected.\nThe S&P 500 set another record ...</p>\n\n<a href=\"https://finance.yahoo.com/news/stock-market-news-live-updates-july-2-2021-221546079-221120965.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/stock-market-news-live-updates-july-2-2021-221546079-221120965.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165340887","content_text":"Stocks rose Friday to record levels as investors digested a key print on the U.S. labor market recovery, which pointed to a faster pace of payroll gains than expected.\nThe S&P 500 set another record high, kicking off the first sessions of the third quarter on a high note. The blue-chip index logged a seventh straight day of gains in its longest winning streak since August 2020. The Nasdaq also hit all-time intraday and closing highs, and the Dow gained to set its first record high since May 7. Shares of Tesla (TSLA) fluctuated before ending slightly higher after the electric car-maker's second-quarter deliveries hit a new record but still missed analysts' estimates, based on Bloomberg consensus data.\nInvestorsconsidered the U.S. Labor Department's June jobs report, the central economic data point that came out this week. The print showed a stronger-than-anticipated acceleration in hiring, with non-farm payrolls rising by 850,000 for a sixth straight monthly gain. The unemployment rate, however, unexpectedly ticked up slightly to 5.9%.\n\"This is the 'Goldilocks report' that the market was looking for today. You had a nice print here of 850,000 jobs being added, wage pressure remaining — I wouldn't call them necessarily contained — but surprising here on the downside versus consensus estimates. So this is telling us right now that economic growth is continuing to accelerate here, the jobs market is continuing to heal,\" Emily Roland, co-chief investment strategist at John Hancock Investment Management, told Yahoo Finance. \"We're making progress here in terms of what the Fed has set out to do, which is in order to get unemployment get down, they're going to let inflation run a little bit hot here. Not too hot, not too cold — this is just what the market wants.\"\nHeading into the report, equities have been buoyed by a slew of strong economic data earlier this week, especially on the labor market.Private payrolls rose by a better-than-expected 692,000 in June,according to ADP, andweekly initial jobless claims improved more than expectedto the lowest level since March 2020. Still, other reports underscored the still-prevalent labor supply challenges impacting companies across industries, with the scarcity capping what has otherwise been a robust economic rebound.\n\"It's really the labor market supply that's putting the brake on hiring right now,\" Luke Tilley, chief economist for Wilmington Trust, told Yahoo Finance. \"But we're pretty optimistic, the market is pretty optimistic, and we think that's a big part of what's driving these indexes higher.\"\nFriday's jobs report will also give markets a suggestion as to the timing of the Federal Reserve's next monetary policy move. For now, the Fed has kept in place both of its key crisis-era policies, or quantitative easing and a near-zero benchmark interest rate. However, an especially strong jobs report and faster-than-expected print on wage growth could justify an earlier-than-currently-telegraphed shift by the central bank.\n“For the first time in years, I’m actually worried about a too hot number causing some kind of volatility or pullback in stocks. That’s because the Fed has signaled they are looking to taper QE,\" Tom Essaye, Sevens Report Research founder,told Yahoo Finance. \"And if we get a really, really strong jobs number and a hot wage number, then markets are going to start to say gee, are they going to taper QE maybe before November, or are they going to taper it more intensely than we thought and in a market that's frankly been very calm and a little bit complacent, that could cause volatility.\"\nStill, the Fed has suggested it would not react rashly to single reports, and has given itself leeway to adjust the timeline of its monetary policy pivots as more data comes in.\n\"I think everyone's counting on the Fed continuing really for the foreseeable future. So I don't see any big changes there coming before 2023,\" Octavio Marenzi, CEO and founder of Opimas,told Yahoo Finance.\"And even then the Fed has hedged its bets very significantly — they've basically said we might in 2023 raise interest rates twice, but then again we might not. So I think the smart money is betting things are going to keep on going, they're going to carry on with a very accommodative monetary policy.\"\nEven with the recent strength for stocks, market strategists say that uncertainty about the future of the Fed’s asset purchases and the upcoming earnings season could keep stocks from making major gains in the near term.\n“The market is still very much concerned about the Fed’s reaction function,” said Max Gokhman, head of asset allocation at Pacific Life Fund Advisors, adding that he thought there was still a lot of slack in the labor market.\n4:01 p.m. ET: Stocks close higher, S&P 500 posts longest winning streak since August 2020\nHere's where markets closed out on Friday:\n\nS&P 500 (^GSPC): +32.51 (+0.75%) to 4,352.45\nDow (^DJI): +154.4 (+0.45%) to 34,787.93\nNasdaq (^IXIC): +116.95 (+0.81%) to 14,639.33","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1953,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125698760,"gmtCreate":1624670512050,"gmtModify":1633949850959,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Depend how long you want to hold..&nbsp;","listText":"Depend how long you want to hold..&nbsp;","text":"Depend how long you want to hold..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":31,"repostSize":0,"link":"https://laohu8.com/post/125698760","repostId":"1108941456","repostType":4,"isVote":1,"tweetType":1,"viewCount":1615,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181110808,"gmtCreate":1623377905404,"gmtModify":1634033995794,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"How will Apple EV look like?&nbsp;","listText":"How will Apple EV look like?&nbsp;","text":"How will Apple EV look like?","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":7,"commentSize":29,"repostSize":0,"link":"https://laohu8.com/post/181110808","repostId":"1147547408","repostType":4,"repost":{"id":"1147547408","kind":"news","pubTimestamp":1623377568,"share":"https://ttm.financial/m/news/1147547408?lang=&edition=full","pubTime":"2021-06-11 10:12","market":"uk","language":"en","title":"Apple hires BMW veteran in latest sign of electric car push","url":"https://stock-news.laohu8.com/highlight/detail?id=1147547408","media":"cnbc","summary":"Applehas hired Ulrich Kranz, a former senior executive atBMWwho focused on electric cars, Apple conf","content":"<div>\n<p>Applehas hired Ulrich Kranz, a former senior executive atBMWwho focused on electric cars, Apple confirmed to CNBC’s Phil LeBeau on Thursday.\nThe hire is the latest sign that Apple is serious about ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/10/apple-hires-bmw-veteran-in-latest-sign-of-electric-car-push.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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 hires BMW veteran in latest sign of electric car push</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nApple hires BMW veteran in latest sign of electric car push\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 10:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/10/apple-hires-bmw-veteran-in-latest-sign-of-electric-car-push.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Applehas hired Ulrich Kranz, a former senior executive atBMWwho focused on electric cars, Apple confirmed to CNBC’s Phil LeBeau on Thursday.\nThe hire is the latest sign that Apple is serious about ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/10/apple-hires-bmw-veteran-in-latest-sign-of-electric-car-push.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","0O0U.UK":"德国宝马汽车公司"},"source_url":"https://www.cnbc.com/2021/06/10/apple-hires-bmw-veteran-in-latest-sign-of-electric-car-push.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1147547408","content_text":"Applehas hired Ulrich Kranz, a former senior executive atBMWwho focused on electric cars, Apple confirmed to CNBC’s Phil LeBeau on Thursday.\nThe hire is the latest sign that Apple is serious about building an electric car to compete with automakers such asTesla.\nHyundai said earlier this year it was in talks with Apple to manufacture its car before walking its comments back and confirming it wasno longer in discussions.\nApple has never confirmed it is building a car but has hired talent from the automotive industry and tested self-driving software in California. In 2018, Applehired Doug Field from Tesla, who worked on Tesla’s Model 3. With its expertise in supply chains, battery technology and user experience, Apple would represent a major competitor to existing automakers if it ever releases a car. Apple’s car project has been restructured several times,most recently in early 2019.\nApple did not say whether Kranz will work on Apple’s car project, which is called Special Projects Group or SPG. But Kranz has extensive experience building teams focused on electric cars.\nBefore joining Apple, Kranz wasa co-founder of Canoo, which is working on a self-driving electric car. At BMW, he led the company’s electric car development program, which resulted in the electric i3 vehicle and a hybrid sports car called the i8, according to Bloomberg,which first reported the hire.","news_type":1,"symbols_score_info":{"0O0U.UK":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123101300,"gmtCreate":1624410966100,"gmtModify":1634006541942,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"The future is on FED hand...&nbsp;","listText":"The future is on FED hand...&nbsp;","text":"The future is on FED hand...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":27,"repostSize":0,"link":"https://laohu8.com/post/123101300","repostId":"2145664330","repostType":4,"repost":{"id":"2145664330","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624403123,"share":"https://ttm.financial/m/news/2145664330?lang=&edition=full","pubTime":"2021-06-23 07:05","market":"us","language":"en","title":"Tech leads way to Wall Street rebound as Powell promises steady hand","url":"https://stock-news.laohu8.com/highlight/detail?id=2145664330","media":"Reuters","summary":"WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Pow","content":"<p>WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.</p>\n<p>Led by the tech-heavy Nasdaq Composite , Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation.</p>\n<p>The Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories.</p>\n<p>The Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&amp;P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27.</p>\n<p>The MSCI world equity index , which tracks shares in 45 nations, rose 4.4 points or 0.62%.</p>\n<p>\"I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone,\" said Patrick Leary, chief market strategist at Incapital. \"The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting.\"</p>\n<p>Testifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a \"broad and inclusive\" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening.</p>\n<p>\"After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far,\" said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank.</p>\n<p>Powell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day.</p>\n<p>The dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733 . It is holding below a two-month high of 92.408 reached on Friday.</p>\n<p>Oil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.</p>\n<p>Brent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019.</p>\n<p>U.S. West Texas Intermediate <a href=\"https://laohu8.com/S/WTI\">$(WTI)$</a> crude fell 60 cents, or 0.8%, to $73.06 a barrel.</p>\n<p>Bitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China.</p>\n<p>Spot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce.</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>Tech leads way to Wall Street rebound as Powell promises steady hand</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: 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\">\nTech leads way to Wall Street rebound as Powell promises steady hand\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-23 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.</p>\n<p>Led by the tech-heavy Nasdaq Composite , Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation.</p>\n<p>The Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories.</p>\n<p>The Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&amp;P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27.</p>\n<p>The MSCI world equity index , which tracks shares in 45 nations, rose 4.4 points or 0.62%.</p>\n<p>\"I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone,\" said Patrick Leary, chief market strategist at Incapital. \"The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting.\"</p>\n<p>Testifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a \"broad and inclusive\" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening.</p>\n<p>\"After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far,\" said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank.</p>\n<p>Powell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day.</p>\n<p>The dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733 . It is holding below a two-month high of 92.408 reached on Friday.</p>\n<p>Oil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.</p>\n<p>Brent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019.</p>\n<p>U.S. West Texas Intermediate <a href=\"https://laohu8.com/S/WTI\">$(WTI)$</a> crude fell 60 cents, or 0.8%, to $73.06 a barrel.</p>\n<p>Bitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China.</p>\n<p>Spot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","POWL":"Powell Industries",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145664330","content_text":"WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.\nLed by the tech-heavy Nasdaq Composite , Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation.\nThe Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories.\nThe Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27.\nThe MSCI world equity index , which tracks shares in 45 nations, rose 4.4 points or 0.62%.\n\"I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone,\" said Patrick Leary, chief market strategist at Incapital. \"The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting.\"\nTestifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a \"broad and inclusive\" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening.\n\"After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far,\" said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank.\nPowell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day.\nThe dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733 . It is holding below a two-month high of 92.408 reached on Friday.\nOil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.\nBrent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019.\nU.S. West Texas Intermediate $(WTI)$ crude fell 60 cents, or 0.8%, to $73.06 a barrel.\nBitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China.\nSpot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"CLmain":0.9,"EURmain":0.9,"GBPmain":0.9,"GCmain":0.9,"JPYmain":0.9,"MGCmain":0.9,"QMmain":0.9,"POWL":0.9}},"isVote":1,"tweetType":1,"viewCount":1673,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128079647,"gmtCreate":1624496649889,"gmtModify":1634005298960,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Merger underway?&nbsp;","listText":"Merger underway?&nbsp;","text":"Merger underway?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":27,"repostSize":0,"link":"https://laohu8.com/post/128079647","repostId":"1129538803","repostType":4,"repost":{"id":"1129538803","kind":"news","pubTimestamp":1624494525,"share":"https://ttm.financial/m/news/1129538803?lang=&edition=full","pubTime":"2021-06-24 08:28","market":"sg","language":"en","title":"Singapore's Keppel, Sembcorp Marine request trading halts","url":"https://stock-news.laohu8.com/highlight/detail?id=1129538803","media":"Reuters","summary":"June 24 (Reuters) - Singapore-listed conglomerate Keppel Corp and rig builder Sembcorp Marine on Thu","content":"<p>June 24 (Reuters) - Singapore-listed conglomerate Keppel Corp and rig builder Sembcorp Marine on Thursday requested the stock exchange in separate filings that their shares be placed on trading halts pending announcements.</p>\n<p>Keppel and Sembcorp Marine were among the world’s biggest oil rig-builders, but a prolonged drop in oil prices and an oversupply of rigs have hit their businesses hard for several years.</p>\n<p>Singapore state investor Temasek Holdings, which is the biggest shareholder in both companies, had scrapped its plans last year to take majority stake in Keppel, following the company’s poor financial results.</p>\n<p>Markets had expected Temasek to lead a much-needed consolidation in the rig-building sector after a deal.</p>\n<p>Earlier this year, Keppel said its struggling offshore and marine (O&amp;M) segment will exit rig-building services, and that the company was also exploring inorganic options for the O&amp;M business.</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>Singapore's Keppel, Sembcorp Marine request trading halts</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: 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\">\nSingapore's Keppel, Sembcorp Marine request trading halts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 08:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/keppel-corp-trading-halt-sembcorp-marine/update-1-singapores-keppel-sembcorp-marine-request-trading-halts-idUSL2N2O536D><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>June 24 (Reuters) - Singapore-listed conglomerate Keppel Corp and rig builder Sembcorp Marine on Thursday requested the stock exchange in separate filings that their shares be placed on trading halts ...</p>\n\n<a href=\"https://www.reuters.com/article/keppel-corp-trading-halt-sembcorp-marine/update-1-singapores-keppel-sembcorp-marine-request-trading-halts-idUSL2N2O536D\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BN4.SI":"吉宝有限公司"},"source_url":"https://www.reuters.com/article/keppel-corp-trading-halt-sembcorp-marine/update-1-singapores-keppel-sembcorp-marine-request-trading-halts-idUSL2N2O536D","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129538803","content_text":"June 24 (Reuters) - Singapore-listed conglomerate Keppel Corp and rig builder Sembcorp Marine on Thursday requested the stock exchange in separate filings that their shares be placed on trading halts pending announcements.\nKeppel and Sembcorp Marine were among the world’s biggest oil rig-builders, but a prolonged drop in oil prices and an oversupply of rigs have hit their businesses hard for several years.\nSingapore state investor Temasek Holdings, which is the biggest shareholder in both companies, had scrapped its plans last year to take majority stake in Keppel, following the company’s poor financial results.\nMarkets had expected Temasek to lead a much-needed consolidation in the rig-building sector after a deal.\nEarlier this year, Keppel said its struggling offshore and marine (O&M) segment will exit rig-building services, and that the company was also exploring inorganic options for the O&M business.","news_type":1,"symbols_score_info":{"BN4.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":1423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168711611,"gmtCreate":1623983644133,"gmtModify":1634024726757,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"//<a href=\"https://laohu8.com/U/3579568649549102\">@KF73</a>: Great company..&nbsp;","listText":"//<a href=\"https://laohu8.com/U/3579568649549102\">@KF73</a>: Great company..&nbsp;","text":"//@KF73: Great company..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":18,"repostSize":0,"link":"https://laohu8.com/post/168711611","repostId":"1175693382","repostType":4,"repost":{"id":"1175693382","kind":"news","pubTimestamp":1623978463,"share":"https://ttm.financial/m/news/1175693382?lang=&edition=full","pubTime":"2021-06-18 09:07","market":"hk","language":"en","title":"Alibaba Stock: The Bottoming Process Looks To Be Forming Already","url":"https://stock-news.laohu8.com/highlight/detail?id=1175693382","media":"seekingalpha","summary":"Alibaba is probably the most undervalued growth stock right now.The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.The short term technical picture may be turning bullish with a potential double bottom price action signal.When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is probably the most undervalued growth stock right now.</li>\n <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>\n <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>\n <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p>\n<p><b>The Technical Thesis</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p>\n<p>Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p>\n<p><b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p>\n<p>BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p>\n<p>Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p>\n<p>When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p>\n<p>Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p>\n<p>One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p>\n<p>Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p>\n<p>Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p>\n<p>We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p>\n<p>BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p>\n<p>Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p>\n<p><b>BABA's Valuations Look Highly Compelling</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p>\n<p>When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p>\n<p>By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p>\n<p><b>Risks to Assumptions</b></p>\n<p>Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p>\n<p><b>Wrapping It All Up</b></p>\n<p>Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Stock: The Bottoming Process Looks To Be Forming Already</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: 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\">\nAlibaba Stock: The Bottoming Process Looks To Be Forming Already\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 09:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short...</p>\n\n<a href=\"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175693382","content_text":"Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short term technical picture may be turning bullish with a potential double bottom price action signal.\nWe discuss the company’s multiple growth drivers and let investors judge for themselves.\n\nYongyuan Dai/iStock Unreleased via Getty Images\nThe Technical Thesis\nSource: TradingView\nAlibaba’s stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.\nBABA's Fundamental Thesis: Rapidly Expanding Growth Drivers\nAnnual GMV. Data source: Company filings\nAnnual e-commerce revenue. Data source: Company filings\nBABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.\nEven though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.\nE-commerce revenue in the U.S. Data source: Statista\nWhen we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.\nPeers EBIT Margin and Projected EBIT Margin. Data source: S&P Capital IQ\nEven though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&A, and therefore skewed its EBIT margin to the downside.\nOne important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of 823M AAC in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only 100M AAC in Q2’C17 as compared to BABA’s 466M AAC in the same period.\nTherefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.\nMarket size of community group buying in China. Data source: iiMedia Research\nEven though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.\nPDD profitability metrics & revenue growth forecast. Data source: S&P Capital IQ\nWe could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.\nChina public cloud spending. Source:China Internet Watch; Canalys\nSize of China public cloud market. Data source: CAICT; Sina.com.cn\nBABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.\nWorldwide public cloud spending. Data source: Gartner\nWorldwide public cloud market share. Source:CnTechPost; Gartner\nTherefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.\nBABA's Valuations Look Highly Compelling\nNTM TEV / EBIT 3Y range.\nEV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&P Capital IQ\nWhen we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.\nPeers EV / EBIT Valuations. Data source: S&P Capital IQ\nBy using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.\nRisks to Assumptions\nNow, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.\nWrapping It All Up\nAlibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":1540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":601362187,"gmtCreate":1638492808849,"gmtModify":1638492809249,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Yes//<a href=\"https://laohu8.com/U/3581899057268262\">@CK11</a>:Oh really?&nbsp;","listText":"Yes//<a href=\"https://laohu8.com/U/3581899057268262\">@CK11</a>:Oh really?&nbsp;","text":"Yes//@CK11:Oh really?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":15,"repostSize":0,"link":"https://laohu8.com/post/601362187","repostId":"1142443814","repostType":4,"repost":{"id":"1142443814","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1623802730,"share":"https://ttm.financial/m/news/1142443814?lang=&edition=full","pubTime":"2021-06-16 08:18","market":"us","language":"en","title":"3 Reasons Tech Stocks May Continue To Struggle","url":"https://stock-news.laohu8.com/highlight/detail?id=1142443814","media":"Benzinga","summary":"So far in 2021, the Vanguard Value Index Fund ETF is up 17.4% nearly double the year-to-date return ","content":"<p>So far in 2021, the&nbsp;<b>Vanguard Value Index Fund ETF</b>&nbsp;is up 17.4% nearly double the year-to-date return of the<b>Technology Select Sector SPDR Fund</b>.</p>\n<p>Over the past decade, periods of time in which tech stocks have lagged value stocks have been short and sweet, but LPL Financial said there are at least three reasons why tech may no longer be leading the market higher for the foreseeable future.</p>\n<ul>\n <li>First, many tech stocks that thrived during the period of social distancing and remote working will face extremely difficult comps and report growth slowdowns in the next several quarters. At the same time, value stocks in the industrials, materials and energy sectors that struggled during the shutdowns will experience the tailwinds of pent-up demand from the reopening.</li>\n <li>Second, the tech sector’s current forward earnings multiple of 25 is relatively high compared to its historical average. In addition, the Russell 1,000 Growth Index is currently valued at a 60% premium to the Russell 1,000 Value Index, its highest premium in the past 20 years.</li>\n <li>Third, the technology sector appears to be rolling over from a technical standpoint. The sector has lagged the S&amp;P 500 since the beginning of September, suggesting technology’s momentum has stalled out.</li>\n</ul>\n<p>“It’s tough not to like technology given the strong fundamentals and rapid pace of innovation from many tech companies,” LPL Equity Strategist Jeffrey Buchbindersaid Tuesday.“But we expect cyclical value sectors like financials, industrials, and materials to fare better the rest of the year as the economy gets a reopening jolt.”</p>\n<p><b>Benzinga’s Take:</b>Just because tech stocks are no longer leading the market higher doesn’t mean investors should dump all their tech holdings for value stocks. There will still certainly be outperformers within the tech sector that are among the largest gainers in the market in 2021, but the easy money that has come from investing in the sector as a whole in the past decade may be much harder to come by in the next several quarters.</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>3 Reasons Tech Stocks May Continue To Struggle</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: 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\">\n3 Reasons Tech Stocks May Continue To Struggle\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-06-16 08:18</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>So far in 2021, the&nbsp;<b>Vanguard Value Index Fund ETF</b>&nbsp;is up 17.4% nearly double the year-to-date return of the<b>Technology Select Sector SPDR Fund</b>.</p>\n<p>Over the past decade, periods of time in which tech stocks have lagged value stocks have been short and sweet, but LPL Financial said there are at least three reasons why tech may no longer be leading the market higher for the foreseeable future.</p>\n<ul>\n <li>First, many tech stocks that thrived during the period of social distancing and remote working will face extremely difficult comps and report growth slowdowns in the next several quarters. At the same time, value stocks in the industrials, materials and energy sectors that struggled during the shutdowns will experience the tailwinds of pent-up demand from the reopening.</li>\n <li>Second, the tech sector’s current forward earnings multiple of 25 is relatively high compared to its historical average. In addition, the Russell 1,000 Growth Index is currently valued at a 60% premium to the Russell 1,000 Value Index, its highest premium in the past 20 years.</li>\n <li>Third, the technology sector appears to be rolling over from a technical standpoint. The sector has lagged the S&amp;P 500 since the beginning of September, suggesting technology’s momentum has stalled out.</li>\n</ul>\n<p>“It’s tough not to like technology given the strong fundamentals and rapid pace of innovation from many tech companies,” LPL Equity Strategist Jeffrey Buchbindersaid Tuesday.“But we expect cyclical value sectors like financials, industrials, and materials to fare better the rest of the year as the economy gets a reopening jolt.”</p>\n<p><b>Benzinga’s Take:</b>Just because tech stocks are no longer leading the market higher doesn’t mean investors should dump all their tech holdings for value stocks. There will still certainly be outperformers within the tech sector that are among the largest gainers in the market in 2021, but the easy money that has come from investing in the sector as a whole in the past decade may be much harder to come by in the next several quarters.</p>\n\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":"1142443814","content_text":"So far in 2021, the Vanguard Value Index Fund ETF is up 17.4% nearly double the year-to-date return of theTechnology Select Sector SPDR Fund.\nOver the past decade, periods of time in which tech stocks have lagged value stocks have been short and sweet, but LPL Financial said there are at least three reasons why tech may no longer be leading the market higher for the foreseeable future.\n\nFirst, many tech stocks that thrived during the period of social distancing and remote working will face extremely difficult comps and report growth slowdowns in the next several quarters. At the same time, value stocks in the industrials, materials and energy sectors that struggled during the shutdowns will experience the tailwinds of pent-up demand from the reopening.\nSecond, the tech sector’s current forward earnings multiple of 25 is relatively high compared to its historical average. In addition, the Russell 1,000 Growth Index is currently valued at a 60% premium to the Russell 1,000 Value Index, its highest premium in the past 20 years.\nThird, the technology sector appears to be rolling over from a technical standpoint. The sector has lagged the S&P 500 since the beginning of September, suggesting technology’s momentum has stalled out.\n\n“It’s tough not to like technology given the strong fundamentals and rapid pace of innovation from many tech companies,” LPL Equity Strategist Jeffrey Buchbindersaid Tuesday.“But we expect cyclical value sectors like financials, industrials, and materials to fare better the rest of the year as the economy gets a reopening jolt.”\nBenzinga’s Take:Just because tech stocks are no longer leading the market higher doesn’t mean investors should dump all their tech holdings for value stocks. There will still certainly be outperformers within the tech sector that are among the largest gainers in the market in 2021, but the easy money that has come from investing in the sector as a whole in the past decade may be much harder to come by in the next several quarters.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":347458840,"gmtCreate":1618526936280,"gmtModify":1634292388913,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"PE:150times wor!! GROWN story!!&nbsp;","listText":"PE:150times wor!! GROWN story!!&nbsp;","text":"PE:150times wor!! GROWN story!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/347458840","repostId":"1181372898","repostType":4,"isVote":1,"tweetType":1,"viewCount":202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184423728,"gmtCreate":1623722210764,"gmtModify":1634029573167,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"To the moon soon?&nbsp;","listText":"To the moon soon?&nbsp;","text":"To the moon soon?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/184423728","repostId":"1126626020","repostType":4,"isVote":1,"tweetType":1,"viewCount":527,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102710153,"gmtCreate":1620252889872,"gmtModify":1634206736040,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Maybe can go higher, thanks to covid-19","listText":"Maybe can go higher, thanks to covid-19","text":"Maybe can go higher, thanks to covid-19","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/102710153","repostId":"1131387668","repostType":4,"repost":{"id":"1131387668","kind":"news","pubTimestamp":1620228331,"share":"https://ttm.financial/m/news/1131387668?lang=&edition=full","pubTime":"2021-05-05 23:25","market":"us","language":"en","title":"This COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?","url":"https://stock-news.laohu8.com/highlight/detail?id=1131387668","media":"benzinga","summary":"Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against t","content":"<p>Shares of<b>BioNTech SE</b>, which&nbsp;partnered with<b>Pfizer Inc.</b>&nbsp;in successfully developing a vaccine against the coronavirus, have been gaining ground.</p>\n<p><b>BioNTech's Price Action:</b>BioNTech and its partner Pfizerreceived in mid-Decemberauthorization for emergency use of the&nbsp;BNT162b2 mRNA vaccine&nbsp;against the novel coronavirus that causes COVID-19.</p>\n<p>BioNTech's shares, which rallied to a high of $131 ahead of the FDA decision, gave back part of the gains in a ‘buy-the-rumor, sell-the-news' move. The stock ended 2020 at $81.52, about 38% off the intraday high for the year.</p>\n<p>The German vaccine maker's stock picked up momentum early in 2021, breaching&nbsp;the $100 psychological resistance level on Jan. 8 and trading&nbsp;in a $100-$120 range until early March.</p>\n<p>The marketwide selloff in March did not spare BioNTech, with the stock dropping below $100 for a few sessions before climbing back again. The stock was locked in a lackluster phase until the end of March.</p>\n<p>Come April, the trend began to change. In the very first session of April, the stock rose over 4% and moved steadily higher through the month. In April alone, the stock added 72.4%.</p>\n<p>To put things in perspective, if an investor had invested $1,000 in BioNTech shares at the end of March, their investment would now be worth $1,909.46 (using the intraday high of $207.55 hit on Monday). This would mean nearly doubling the investment in a span of a month.</p>\n<p><b>What's Behind The BioNTech Rally:</b>The stock has been supported by the intermittent news flow regarding the company's vaccine.</p>\n<p>In late March, the companies reported positive top-line results from a study evaluating the vaccine in adolescents.</p>\n<p>On April 1, BioNTech and Pfizer reported data on BNT162b2 following six months of follow-up that confirmed its efficacy and safety.</p>\n<p>The companies announced April 9 a request to the FDA to authorize&nbsp;expanded use of the vaccine in adolescents ages&nbsp;12-15.</p>\n<p>The FDA'sdecisionto temporarily pause the use of<b>Johnson &amp; Johnson's</b>JNJ 0.2%vaccine also proved positive for BioNTech, which added about 7% on April 13&nbsp;when the pause was announced.</p>\n<p>In mid-April, the companies announced an agreement with the European Union to supply 100 million doses of BNT162b2, which is named Comirnaty in Europe, in 2021. With that, the total number of doses delivered to the EU is 600 million.</p>\n<p>Last week, a request was submitted to the EU to expand conditional marketing authorization to adolescents in the EU.</p>\n<p><b>What Lies Ahead For BioNTech Stock?</b>BNT162b2 is expected to continue to boost BioNTech's top-line. Having delivered 200 million doses by the end of March, the company has signed orders for supplying 1.4 billion doses in 2021.</p>\n<p>Pfizer and BioNTech plan to boost the manufacturing capacity for&nbsp;the vaccine to 2.5 billion doses by the end of 2021.</p>\n<p>\"BioNTech and Pfizer will be the standout leader in COVID-19 vaccination globally, with demand increasing for the 2.5Bn doses they are targeting to manufacture in 2021,\" SVB Leerink analyst Daina Graybosch said in a note.</p>\n<p>With the second wave of the COVID-19 pandemic now sweeping across several nations, the&nbsp;companies have a lucrative opportunity.&nbsp;The companies have also proved the efficacy of the&nbsp;vaccine against variants.</p>\n<p>Once the pandemic phase passes, the vaccine has scope for use in endemic setting.</p>\n<p>More importantly, BioNTech is not a one-trick pony. The company has a broad oncology pipeline&nbsp;consisting of 13 product candidates.</p>\n<p>Weighing in all the opportunities, further upside in the stock cannot be ruled out.</p>\n<p><b>BNTX Price Action:</b>At last check, BioNTech shares were rising 8.2% to $191.38.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?</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: 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\">\nThis COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-05 23:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against the coronavirus, have been gaining ground.\nBioNTech's Price Action:BioNTech and its partner ...</p>\n\n<a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BNTX":"BioNTech SE"},"source_url":"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131387668","content_text":"Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against the coronavirus, have been gaining ground.\nBioNTech's Price Action:BioNTech and its partner Pfizerreceived in mid-Decemberauthorization for emergency use of the BNT162b2 mRNA vaccine against the novel coronavirus that causes COVID-19.\nBioNTech's shares, which rallied to a high of $131 ahead of the FDA decision, gave back part of the gains in a ‘buy-the-rumor, sell-the-news' move. The stock ended 2020 at $81.52, about 38% off the intraday high for the year.\nThe German vaccine maker's stock picked up momentum early in 2021, breaching the $100 psychological resistance level on Jan. 8 and trading in a $100-$120 range until early March.\nThe marketwide selloff in March did not spare BioNTech, with the stock dropping below $100 for a few sessions before climbing back again. The stock was locked in a lackluster phase until the end of March.\nCome April, the trend began to change. In the very first session of April, the stock rose over 4% and moved steadily higher through the month. In April alone, the stock added 72.4%.\nTo put things in perspective, if an investor had invested $1,000 in BioNTech shares at the end of March, their investment would now be worth $1,909.46 (using the intraday high of $207.55 hit on Monday). This would mean nearly doubling the investment in a span of a month.\nWhat's Behind The BioNTech Rally:The stock has been supported by the intermittent news flow regarding the company's vaccine.\nIn late March, the companies reported positive top-line results from a study evaluating the vaccine in adolescents.\nOn April 1, BioNTech and Pfizer reported data on BNT162b2 following six months of follow-up that confirmed its efficacy and safety.\nThe companies announced April 9 a request to the FDA to authorize expanded use of the vaccine in adolescents ages 12-15.\nThe FDA'sdecisionto temporarily pause the use ofJohnson & Johnson'sJNJ 0.2%vaccine also proved positive for BioNTech, which added about 7% on April 13 when the pause was announced.\nIn mid-April, the companies announced an agreement with the European Union to supply 100 million doses of BNT162b2, which is named Comirnaty in Europe, in 2021. With that, the total number of doses delivered to the EU is 600 million.\nLast week, a request was submitted to the EU to expand conditional marketing authorization to adolescents in the EU.\nWhat Lies Ahead For BioNTech Stock?BNT162b2 is expected to continue to boost BioNTech's top-line. Having delivered 200 million doses by the end of March, the company has signed orders for supplying 1.4 billion doses in 2021.\nPfizer and BioNTech plan to boost the manufacturing capacity for the vaccine to 2.5 billion doses by the end of 2021.\n\"BioNTech and Pfizer will be the standout leader in COVID-19 vaccination globally, with demand increasing for the 2.5Bn doses they are targeting to manufacture in 2021,\" SVB Leerink analyst Daina Graybosch said in a note.\nWith the second wave of the COVID-19 pandemic now sweeping across several nations, the companies have a lucrative opportunity. The companies have also proved the efficacy of the vaccine against variants.\nOnce the pandemic phase passes, the vaccine has scope for use in endemic setting.\nMore importantly, BioNTech is not a one-trick pony. The company has a broad oncology pipeline consisting of 13 product candidates.\nWeighing in all the opportunities, further upside in the stock cannot be ruled out.\nBNTX Price Action:At last check, BioNTech shares were rising 8.2% to $191.38.","news_type":1,"symbols_score_info":{"BNTX":0.9}},"isVote":1,"tweetType":1,"viewCount":135,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110792457,"gmtCreate":1622503003479,"gmtModify":1634101122018,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Like AMZN but not at this price.&nbsp;","listText":"Like AMZN but not at this price.&nbsp;","text":"Like AMZN but not at this price.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/110792457","repostId":"2139430866","repostType":4,"isVote":1,"tweetType":1,"viewCount":223,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":189556022,"gmtCreate":1623282849766,"gmtModify":1634035068357,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Interest rate upside cycle waiting?&nbsp;","listText":"Interest rate upside cycle waiting?&nbsp;","text":"Interest rate upside cycle waiting?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/189556022","repostId":"1193607718","repostType":4,"repost":{"id":"1193607718","kind":"news","pubTimestamp":1623282335,"share":"https://ttm.financial/m/news/1193607718?lang=&edition=full","pubTime":"2021-06-10 07:45","market":"sh","language":"en","title":"Hot inflation may have become scorching in May and is expected to hit a 28-year high","url":"https://stock-news.laohu8.com/highlight/detail?id=1193607718","media":"cnbc","summary":"Inflation has been warming up this spring, and it's expected to hit historical levels for the month ","content":"<div>\n<p>Inflation has been warming up this spring, and it's expected to hit historical levels for the month of May.\nThe consensus forecast for the core consumer price index, which excludes food and energy, is...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/hot-inflation-became-scorching-in-may-and-is-expected-to-hit-a-28-year-high.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Hot inflation may have become scorching in May and is expected to hit a 28-year high</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: 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\">\nHot inflation may have become scorching in May and is expected to hit a 28-year high\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-10 07:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/09/hot-inflation-became-scorching-in-may-and-is-expected-to-hit-a-28-year-high.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Inflation has been warming up this spring, and it's expected to hit historical levels for the month of May.\nThe consensus forecast for the core consumer price index, which excludes food and energy, is...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/hot-inflation-became-scorching-in-may-and-is-expected-to-hit-a-28-year-high.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/06/09/hot-inflation-became-scorching-in-may-and-is-expected-to-hit-a-28-year-high.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1193607718","content_text":"Inflation has been warming up this spring, and it's expected to hit historical levels for the month of May.\nThe consensus forecast for the core consumer price index, which excludes food and energy, is 3.5% on a year-over-year basis, according to Dow Jones. That's the fastest annual pace in 28 years.\nEconomists expect both core and headline CPI rose by 0.5% in May. Headline CPI is expected to jump 4.7% year-over-year, the highest rate since sky high energy prices spiked inflation readings in the fall of 2008.\n\"It will be hot. It could be up to 5%,\" said Diane Swonk, chief economist at Grant Thornton. \"The worst of the heat is going to be the second quarter in terms of headline. It will be interesting to see what it looks like when you strip out the extremes. I think we're still going to have a warm summer when you have surge pricing kicking in for everything from airfares to hotels.\"\nA customer wearing a protective mask loads lumber onto a cart at a Home Depot store in Pleasanton, California, on Monday, Feb. 22, 2021.David Paul Morris | Bloomberg | Getty Images\nMay CPI is expected at 8:30 a.m. ET Thursday and comes as investors are debating whether the period of rising prices is transient, as the Fed believes, or more pervasive and persistent. If it's the latter, the concern is the central bank would then be forced to back away from its easy policies that have helped keep interest rates low, boosted liquidity and provided fuel for the stock market's gains.\nGreater expectations\nMark Zandi, chief economist at Moody's Analytics, said he expects a 0.6% jump in May core CPI. \"The year-over-year growth rate would be 3.65%,\" he said. \"The last time it was this high was July 1992.\"\nThe last time the core CPI was above the consensus expectation of 3.5% was February 1993.\nSwonk expects headline inflation to reach 4.9% year-over-year. That compares to a4.2% headline pace in April.Core inflation was 3% year-over-year in April, a level it has only occasionally reached in the past two decades.\n\"I am worried about rent and owners' equivalent rent because it should go up. It had decelerated,\" she said. Shelter is more than 30% of CPI, and rent costs have bottomed in some cities, Swonk added. \"The issue is it could have longer legs and keep overall inflation measures buoyed more than people expect.\"\n\nThe Fed has said it would begin the first phase of easing when it believes the economy and labor market is strong enough. Central bank officials have said they will tolerate inflation in an average range around their 2% target.\nSome strategists expect the Fed to begin talking about tapering its $120 billion a month in late August when it meets at theJackson Hole Economic Symposium. It is then expected to wait several months and begin to pare back purchases in December or early next year.\nThat would then lead to a long period of the Fed slowly reducing its bond purchases before it actually moves to raise interest rates. Most market pros do not expect the Fed to hike interest rates before 2023.\nGoing beyond the expected price increases\nWells Fargo bond strategists say they will be looking at the data for trends that go beyond the obvious price hikes associated with the economic reopening.\n\"Airfares, hotels and event admissions all registered big price increases and contributed to the spike in CPI inflation in April,\" they wrote in a report. \"But these categories are merely recovering declines seen last year, and the Fed is unlikely to be swayed if their prices continue to accelerate. Rent, owners' equivalent rent and medical care services (collectively 50% of the core CPI basket) inflation are muted.\"\nGrant Thornton's Swonk said the surge of inflation is being driven by pent-up demand, with consumers rushing to return to normal.\n\"The biggest thing I worry about longer term is whether or not what we're seeing a reaction to friction upon re-entry, before you hit the cold waters and reach splashdown, it gets hot,\" she said.\nEconomists are carefully eyeing wages, which have been rising. They do not expect the picture to become clear for several months as workers are expected to come back to the labor force. The559,000 jobs added in Maywas lower than expected, but the pace of hiring is expected to pick up as September approaches when federal unemployment benefits run out and schools reopen, allowing parents to return to work.\nInflation: Good to some degree\nFor the stock market, some inflation is good, especially for those companies that can meet rising costs with higher prices for goods. Inflation becomes negative when it gets too hot and erodes margins.\n\"These near-term readings are not going to tell us anything about whether the inflation readings are going to be anything but transitory,\" said Ron Temple, head of U.S. equities and co-head of multi-asset investing at Lazard Asset Management. He said it will be several more months before it's clear whether the period of higher prices is temporary.\nTemple said a hot CPI reading — one that's much higher than expected — would be a negative for stocks and bonds. Bond yields rise when prices fall.\n\"I think inflation is the thing people want to be afraid of … I think it's a misplaced fear. I think the worst thing we could have is deflation,\" he said.\nTemple said he does not expect a few months of rising inflation to destabilize the stock market, but he said there are bond market pros who think the Fed could move sooner on unwinding its bond program.\n\"I think the Fed will keep its nerve. They've made it clear. There's been a consistency of commentary. I think [Fed Chairman] Jay Powell's done a good job discussing 'transitory,'\" he said.\nMarket-based inflation expectations have been falling recently, and the 10-year Treasury yield fell below the key 1.5% Wednesday.\nGeorge Goncalves, head of U.S. macro strategy at MUFG, said investors were looking for an explanation for the surprise drop in yields, but he said it could simply be that the market is not looking for the pace of inflation or economic growth to stay at current levels.\n\"It's got to be short-covering. I think what we're experiencing is a rethinking of the narrative at the same time,\" he said. \"We're living through the peak of the activity, the peak of the inflation and markets are supposed to be forward looking.\"","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139597260,"gmtCreate":1621643477150,"gmtModify":1634187501574,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Shopify.. AMZN no 2..","listText":"Shopify.. AMZN no 2..","text":"Shopify.. AMZN no 2..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/139597260","repostId":"2137990425","repostType":4,"repost":{"id":"2137990425","kind":"highlight","pubTimestamp":1621610466,"share":"https://ttm.financial/m/news/2137990425?lang=&edition=full","pubTime":"2021-05-21 23:21","market":"us","language":"en","title":"Tech Stock Crash -- Buy These 2 Growth Stocks on the Dip","url":"https://stock-news.laohu8.com/highlight/detail?id=2137990425","media":"Motley Fool","summary":"Tech stocks have taken a hit. Now looks like a good time to buy a few growth stocks with great potential.","content":"<p>If you're a tech investor, you've probably seen some red in your portfolio recently. Fears over inflation have sparked a sell-off, dragging many growth stocks down in the process. Of course, it's natural to panic, but that's not very productive.</p>\n<p>Instead, think of this as a buying opportunity. For instance, <b>Cloudflare</b> (NYSE:NET) and <b>Shopify</b> (NYSE:SHOP) have each fallen over 20% from their 52-week highs, but both look like good long-term investments. Here's why you should consider buying these two growth stocks on the dip.</p>\n<h2>1. Cloudflare: Cloud computing</h2>\n<p>Cloudflare is a cloud services provider that makes the internet faster, more reliable, and more secure. Its global network spans 200 cities, and supports nearly 17%&nbsp;of the internet as of April 2021, according to W3Techs. Those are incredible statistics, but they mean more in context. So let's look at a recent product launch.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e55778fa4732da24b1a14ed4fcaafa2\" tg-width=\"700\" tg-height=\"478\"><span>Image source: Getty Images.</span></p>\n<p>Traditionally, corporations have taken a castle-and-moat approach&nbsp;to networks: All resources were stored on-site, all employees worked in the office, and all incoming and outgoing connections were filtered through central hardware (e.g. firewall boxes, internet gateways). But this model is no longer efficient or effective, since more employees are working remotely and more enterprises rely on cloud computing.</p>\n<p>In 2020, Cloudflare launched Cloudflare for Teams to solve this problem. This product is built around Cloudflare Access and Cloudflare Gateway, enabling employees to securely access corporate resources and the open internet whether they are in the office or working remotely.</p>\n<p>Moreover, Cloudflare's global network offers performance at a scale that would be impossible for most enterprises to achieve on their own. It also eliminates the need for costly on-site hardware. Put another way, Cloudflare for Teams is faster and cheaper than legacy network security solutions.</p>\n<p>Beyond this example, Cloudflare offers a range of other products -- everything from serverless computing to streaming video platforms -- all of which are designed to enhance performance and security.</p>\n<p>In total, management believes the company's market opportunity will grow at 9% per year, rising from $72 billion in 2020 to $100 billion by 2024. But Cloudflare's revenue is growing <i>much</i> faster, meaning the company is gaining market share.</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>2017</p></th>\n   <th><p>Q1 2021 (TTM)</p></th>\n   <th><p>CAGR</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td width=\"156\"><p>Customers</p></td>\n   <td width=\"156\"><p>49,309</p></td>\n   <td width=\"156\"><p>119,206</p></td>\n   <td width=\"156\"><p>31%</p></td>\n  </tr>\n  <tr>\n   <td width=\"156\"><p>Revenue</p></td>\n   <td width=\"156\"><p>$135 million</p></td>\n   <td width=\"156\"><p>$478 million</p></td>\n   <td width=\"156\"><p>48%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Cloudflare&nbsp;SEC filings. TTM = trailing-12-months. CAGR = compound annual growth rate.</p>\n<p>Going forward, investors should pay attention to Cloudflare's ability to maintain its momentum. The company faces competition from legacy providers like <b>Akamai</b>&nbsp;and public cloud titans like <b>Amazon</b> Web Services. However, Cloudflare is currently growing more quickly than both. That's why this growth stock is a buy for long-term investors.</p>\n<h2>2. Shopify: E-commerce</h2>\n<p>Creating an e-commerce website is complicated, especially if you're not a software developer. And managing a business is even more complicated since you need a way to process payments, manage inventory, fulfill and ship orders, and run ad campaigns.</p>\n<p>Shopify removes all of this complexity, simplifying commerce. Using its&nbsp;software-as-a-service (SaaS) platform, anyone can easily build an online storefront and manage a business across physical and digital locations.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff4a35f99c16648b52d7b3f448eb34e1\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Shopify.</span></p>\n<p>Not surprisingly, Shopify's business has grown at an incredible pace as e-commerce has gained traction around the world. In 2016 the company had 377,500&nbsp;customers, but that figure double by 2018&nbsp;and doubled again by 2020, reaching 1.7 million.</p>\n<p>At the same time, Shopify has seen strong adoption of its payment processing and shipping services. In 2016 Shopify Payments handled 39% of gross merchandise volume&nbsp;(GMV), but that figure hit 45% in 2020. Likewise, less than 40% of U.S. and Canadian merchants&nbsp;used Shopify Shipping in 2018, but that figure hit 52% in 2020.</p>\n<p>Here's the takeaway: Shopify's quickly growing customer base has powered soaring subscription sales, but increasing adoption of Shopify Payments and Shopify Shipping has driven even faster sales growth in merchant solutions.</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Shopify Revenue</p></th>\n   <th><p>2016</p></th>\n   <th><p>2020</p></th>\n   <th><p>CAGR</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td width=\"156\"><p>Subscription</p></td>\n   <td width=\"156\"><p>$188.6 million</p></td>\n   <td width=\"156\"><p>$908.8 million</p></td>\n   <td width=\"156\"><p>48%</p></td>\n  </tr>\n  <tr>\n   <td width=\"156\"><p>Merchant Solutions</p></td>\n   <td width=\"156\"><p>$200.7 million</p></td>\n   <td width=\"156\"><p>$2.0 billion</p></td>\n   <td width=\"156\"><p>78%</p></td>\n  </tr>\n  <tr>\n   <td width=\"156\"><p>Total</p></td>\n   <td width=\"156\"><p>$389.3 million</p></td>\n   <td width=\"156\"><p>$2.9 billion</p></td>\n   <td width=\"156\"><p>66%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Shopify&nbsp;SEC filings. CAGR = compound annual growth rate.</p>\n<p>In Q1 2021, Shopify's business continued to gain speed. Subscription sales growth accelerated to 71% and merchant solutions sales growth accelerated to 137%. In total, Q1 revenue came in at $989 million -- more than double its full-year revenue in 2016.</p>\n<p>This supercharged financial performance can't last forever, but even as growth slows, I believe Shopify will be an important player in the e-commerce industry for decades to come. That's why this tech stock looks like a buy.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech Stock Crash -- Buy These 2 Growth Stocks on the Dip</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: 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\">\nTech Stock Crash -- Buy These 2 Growth Stocks on the Dip\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 23:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/21/tech-stock-crash-buy-these-2-growth-stocks-on-dip/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you're a tech investor, you've probably seen some red in your portfolio recently. Fears over inflation have sparked a sell-off, dragging many growth stocks down in the process. Of course, it's ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/21/tech-stock-crash-buy-these-2-growth-stocks-on-dip/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/21/tech-stock-crash-buy-these-2-growth-stocks-on-dip/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137990425","content_text":"If you're a tech investor, you've probably seen some red in your portfolio recently. Fears over inflation have sparked a sell-off, dragging many growth stocks down in the process. Of course, it's natural to panic, but that's not very productive.\nInstead, think of this as a buying opportunity. For instance, Cloudflare (NYSE:NET) and Shopify (NYSE:SHOP) have each fallen over 20% from their 52-week highs, but both look like good long-term investments. Here's why you should consider buying these two growth stocks on the dip.\n1. Cloudflare: Cloud computing\nCloudflare is a cloud services provider that makes the internet faster, more reliable, and more secure. Its global network spans 200 cities, and supports nearly 17% of the internet as of April 2021, according to W3Techs. Those are incredible statistics, but they mean more in context. So let's look at a recent product launch.\nImage source: Getty Images.\nTraditionally, corporations have taken a castle-and-moat approach to networks: All resources were stored on-site, all employees worked in the office, and all incoming and outgoing connections were filtered through central hardware (e.g. firewall boxes, internet gateways). But this model is no longer efficient or effective, since more employees are working remotely and more enterprises rely on cloud computing.\nIn 2020, Cloudflare launched Cloudflare for Teams to solve this problem. This product is built around Cloudflare Access and Cloudflare Gateway, enabling employees to securely access corporate resources and the open internet whether they are in the office or working remotely.\nMoreover, Cloudflare's global network offers performance at a scale that would be impossible for most enterprises to achieve on their own. It also eliminates the need for costly on-site hardware. Put another way, Cloudflare for Teams is faster and cheaper than legacy network security solutions.\nBeyond this example, Cloudflare offers a range of other products -- everything from serverless computing to streaming video platforms -- all of which are designed to enhance performance and security.\nIn total, management believes the company's market opportunity will grow at 9% per year, rising from $72 billion in 2020 to $100 billion by 2024. But Cloudflare's revenue is growing much faster, meaning the company is gaining market share.\n\n\n\nMetric\n2017\nQ1 2021 (TTM)\nCAGR\n\n\n\n\nCustomers\n49,309\n119,206\n31%\n\n\nRevenue\n$135 million\n$478 million\n48%\n\n\n\nData source: Cloudflare SEC filings. TTM = trailing-12-months. CAGR = compound annual growth rate.\nGoing forward, investors should pay attention to Cloudflare's ability to maintain its momentum. The company faces competition from legacy providers like Akamai and public cloud titans like Amazon Web Services. However, Cloudflare is currently growing more quickly than both. That's why this growth stock is a buy for long-term investors.\n2. Shopify: E-commerce\nCreating an e-commerce website is complicated, especially if you're not a software developer. And managing a business is even more complicated since you need a way to process payments, manage inventory, fulfill and ship orders, and run ad campaigns.\nShopify removes all of this complexity, simplifying commerce. Using its software-as-a-service (SaaS) platform, anyone can easily build an online storefront and manage a business across physical and digital locations.\nImage source: Shopify.\nNot surprisingly, Shopify's business has grown at an incredible pace as e-commerce has gained traction around the world. In 2016 the company had 377,500 customers, but that figure double by 2018 and doubled again by 2020, reaching 1.7 million.\nAt the same time, Shopify has seen strong adoption of its payment processing and shipping services. In 2016 Shopify Payments handled 39% of gross merchandise volume (GMV), but that figure hit 45% in 2020. Likewise, less than 40% of U.S. and Canadian merchants used Shopify Shipping in 2018, but that figure hit 52% in 2020.\nHere's the takeaway: Shopify's quickly growing customer base has powered soaring subscription sales, but increasing adoption of Shopify Payments and Shopify Shipping has driven even faster sales growth in merchant solutions.\n\n\n\nShopify Revenue\n2016\n2020\nCAGR\n\n\n\n\nSubscription\n$188.6 million\n$908.8 million\n48%\n\n\nMerchant Solutions\n$200.7 million\n$2.0 billion\n78%\n\n\nTotal\n$389.3 million\n$2.9 billion\n66%\n\n\n\nData source: Shopify SEC filings. CAGR = compound annual growth rate.\nIn Q1 2021, Shopify's business continued to gain speed. Subscription sales growth accelerated to 71% and merchant solutions sales growth accelerated to 137%. In total, Q1 revenue came in at $989 million -- more than double its full-year revenue in 2016.\nThis supercharged financial performance can't last forever, but even as growth slows, I believe Shopify will be an important player in the e-commerce industry for decades to come. That's why this tech stock looks like a buy.","news_type":1,"symbols_score_info":{"NET":0.9,"SHOP":0.9}},"isVote":1,"tweetType":1,"viewCount":128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371504266,"gmtCreate":1618958756355,"gmtModify":1634289690354,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Upgrade only...&nbsp;","listText":"Upgrade only...&nbsp;","text":"Upgrade only...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/371504266","repostId":"2129774840","repostType":4,"repost":{"id":"2129774840","kind":"news","pubTimestamp":1618943114,"share":"https://ttm.financial/m/news/2129774840?lang=&edition=full","pubTime":"2021-04-21 02:25","market":"us","language":"en","title":"Apple Debuts Faster iPad Pro With Brighter Screen and 5G Option","url":"https://stock-news.laohu8.com/highlight/detail?id=2129774840","media":"Bloomberg","summary":"(Bloomberg) -- Apple Inc. unveiled an updated iPad Pro with a faster processor, 5G connectivity, upg","content":"<p>(Bloomberg) -- Apple Inc. unveiled an updated iPad Pro with a faster processor, 5G connectivity, upgraded screen and new cameras, offering a more powerful version of its priciest tablet aimed at workers and students returning to offices and schools.</p>\n<p>The new models come in the same 11-inch and 12.9-inch screen sizes as the previous version, and they look nearly identical to the iPad Pro design introduced in 2018. The latest devices include the company’s M1 processor from the Mac that Apple said is far faster than the A12Z chip in the previous iPad Pro launched about a year ago.</p>\n<p>The iPad generated $8.4 billion in revenue during Apple’s key holiday quarter of 2020, the most since 2014. Sales jumped on demand from people working and studying at home during the pandemic. The Cupertino, California-based technology giant is betting on these upgrades to maintain interest in the tablet line, which debuted Tuesday as part of Apple’s product event.</p>\n<p>The new iPad Pro also includes a MiniLED screen, dubbed by Apple as the Liquid Retina XDR Display, which the company said will enable brighter colors, more details and improved contrast ratios. The new screen, however, is only available on the pricier and larger 12.9-inch model. Apple will also for the first time offer iPads with fifth-generation, or 5G, wireless connectivity, expanding its 5G portfolio from the iPhone 12 line.</p>\n<p>Apple updated the iPad Pro’s camera system, too, with a new 12-megapixel ultra-wide camera on the front and an improved low-light sensor on the back. The company also announced an updated Magic Keyboard that comes in a new white color.</p>\n<p>The new iPad Pros go on sale April 30 and will start at $799 for the 11-inch model. The 12.9-inch version with the MiniLED screen will start at $1,099. Models that are 5G-capable will cost extra, and storage tiers will range to as much as 2 terabytes for the first time. Bloomberg News reported on the new iPads last month.</p>\n<p>Apple has increasingly used its expertise in custom chip development to give it a leg up on the competition. The company started transitioning its Mac personal computers to its internally-designed processors last year, dropping components from Intel Corp. The M1 chip in the new iPads is the same chip inside of the latest MacBook Air, entry-level MacBook Pro, Mac mini and new iMac.</p>\n<p>The company said that the processor will enable new professional apps and improved rendering for augmented reality. It has eight main computing cores and eight graphics cores, the same as in the Mac chips. That’s more than the A14 processor in the iPhone 12 and cheaper iPad Air, which have six main computing cores and four graphics cores.</p>\n<p>Apple said the new iPad Pros will include a Thunderbolt connector for the first time, allowing compatibility with additional accessories such as external monitors. This also lets the iPad sync with some external storage drives at faster speeds. While the port is updated, it is the same size as the USB-C connector on the previous iPad Pro. That means users won’t need to buy new chargers.</p>","source":"yahoofinance","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 Debuts Faster iPad Pro With Brighter Screen and 5G Option</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: 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\">\nApple Debuts Faster iPad Pro With Brighter Screen and 5G Option\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-21 02:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/apple-debuts-faster-ipad-pro-182514236.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Apple Inc. unveiled an updated iPad Pro with a faster processor, 5G connectivity, upgraded screen and new cameras, offering a more powerful version of its priciest tablet aimed at ...</p>\n\n<a href=\"https://finance.yahoo.com/news/apple-debuts-faster-ipad-pro-182514236.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/aefdc0bba8add475ef9ab7344b6d37b3","relate_stocks":{"09086":"华夏纳指-U","INTC":"英特尔","03086":"华夏纳指","AAPL":"苹果"},"source_url":"https://finance.yahoo.com/news/apple-debuts-faster-ipad-pro-182514236.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2129774840","content_text":"(Bloomberg) -- Apple Inc. unveiled an updated iPad Pro with a faster processor, 5G connectivity, upgraded screen and new cameras, offering a more powerful version of its priciest tablet aimed at workers and students returning to offices and schools.\nThe new models come in the same 11-inch and 12.9-inch screen sizes as the previous version, and they look nearly identical to the iPad Pro design introduced in 2018. The latest devices include the company’s M1 processor from the Mac that Apple said is far faster than the A12Z chip in the previous iPad Pro launched about a year ago.\nThe iPad generated $8.4 billion in revenue during Apple’s key holiday quarter of 2020, the most since 2014. Sales jumped on demand from people working and studying at home during the pandemic. The Cupertino, California-based technology giant is betting on these upgrades to maintain interest in the tablet line, which debuted Tuesday as part of Apple’s product event.\nThe new iPad Pro also includes a MiniLED screen, dubbed by Apple as the Liquid Retina XDR Display, which the company said will enable brighter colors, more details and improved contrast ratios. The new screen, however, is only available on the pricier and larger 12.9-inch model. Apple will also for the first time offer iPads with fifth-generation, or 5G, wireless connectivity, expanding its 5G portfolio from the iPhone 12 line.\nApple updated the iPad Pro’s camera system, too, with a new 12-megapixel ultra-wide camera on the front and an improved low-light sensor on the back. The company also announced an updated Magic Keyboard that comes in a new white color.\nThe new iPad Pros go on sale April 30 and will start at $799 for the 11-inch model. The 12.9-inch version with the MiniLED screen will start at $1,099. Models that are 5G-capable will cost extra, and storage tiers will range to as much as 2 terabytes for the first time. Bloomberg News reported on the new iPads last month.\nApple has increasingly used its expertise in custom chip development to give it a leg up on the competition. The company started transitioning its Mac personal computers to its internally-designed processors last year, dropping components from Intel Corp. The M1 chip in the new iPads is the same chip inside of the latest MacBook Air, entry-level MacBook Pro, Mac mini and new iMac.\nThe company said that the processor will enable new professional apps and improved rendering for augmented reality. It has eight main computing cores and eight graphics cores, the same as in the Mac chips. That’s more than the A14 processor in the iPhone 12 and cheaper iPad Air, which have six main computing cores and four graphics cores.\nApple said the new iPad Pros will include a Thunderbolt connector for the first time, allowing compatibility with additional accessories such as external monitors. This also lets the iPad sync with some external storage drives at faster speeds. While the port is updated, it is the same size as the USB-C connector on the previous iPad Pro. That means users won’t need to buy new chargers.","news_type":1,"symbols_score_info":{"03086":0.9,"09086":0.9,"AAPL":0.9,"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344797631,"gmtCreate":1618442332223,"gmtModify":1634292967057,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Tesla is industry leader!&nbsp;","listText":"Tesla is industry leader!&nbsp;","text":"Tesla is industry leader!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/344797631","repostId":"1186838018","repostType":4,"repost":{"id":"1186838018","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":1618413882,"share":"https://ttm.financial/m/news/1186838018?lang=&edition=full","pubTime":"2021-04-14 23:24","market":"us","language":"en","title":"Electric vehicle stocks were down","url":"https://stock-news.laohu8.com/highlight/detail?id=1186838018","media":"Tiger Newspress","summary":"(April 14) Electric vehicle stocks were down. Shares of Nio was down  6.62% to $33.13 and Nio was 3.","content":"<p>(April 14)&nbsp;Electric vehicle stocks were down.&nbsp;Shares of Nio&nbsp;was&nbsp;down&nbsp;&nbsp;6.62%&nbsp;to&nbsp;$33.13&nbsp;and&nbsp;Nio&nbsp;was&nbsp;3.14% lower.</p><p><img src=\"https://static.tigerbbs.com/d4dccabfcd5d058051278d972adbce18\" tg-width=\"294\" tg-height=\"166\" referrerpolicy=\"no-referrer\">Xpeng Motors launched the P5 on Wednesday, a sedan with new self-driving features.&nbsp;The P5 is equipped with so-called Lidar to aid Xpeng’s driverless system called XPILOT.&nbsp;Xpeng is hoping to close to gap with Tesla as well as race ahead of other rivals such as Nio and Li Auto.</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>Electric vehicle stocks were down</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: 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\">\nElectric vehicle stocks were down\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-14 23:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(April 14)&nbsp;Electric vehicle stocks were down.&nbsp;Shares of Nio&nbsp;was&nbsp;down&nbsp;&nbsp;6.62%&nbsp;to&nbsp;$33.13&nbsp;and&nbsp;Nio&nbsp;was&nbsp;3.14% lower.</p><p><img src=\"https://static.tigerbbs.com/d4dccabfcd5d058051278d972adbce18\" tg-width=\"294\" tg-height=\"166\" referrerpolicy=\"no-referrer\">Xpeng Motors launched the P5 on Wednesday, a sedan with new self-driving features.&nbsp;The P5 is equipped with so-called Lidar to aid Xpeng’s driverless system called XPILOT.&nbsp;Xpeng is hoping to close to gap with Tesla as well as race ahead of other rivals such as Nio and Li Auto.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","NIO":"蔚来"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186838018","content_text":"(April 14) Electric vehicle stocks were down. Shares of Nio was down  6.62% to $33.13 and Nio was 3.14% lower.Xpeng Motors launched the P5 on Wednesday, a sedan with new self-driving features. The P5 is equipped with so-called Lidar to aid Xpeng’s driverless system called XPILOT. Xpeng is hoping to close to gap with Tesla as well as race ahead of other rivals such as Nio and Li Auto.","news_type":1,"symbols_score_info":{"NIO":0.9,"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":281,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":699693451,"gmtCreate":1639788452679,"gmtModify":1639788453663,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Travel recovery play??&nbsp;","listText":"Travel recovery play??&nbsp;","text":"Travel recovery play??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/699693451","repostId":"2192973639","repostType":4,"repost":{"id":"2192973639","kind":"highlight","pubTimestamp":1639750838,"share":"https://ttm.financial/m/news/2192973639?lang=&edition=full","pubTime":"2021-12-17 22:20","market":"us","language":"en","title":"Why Airbnb Could Be 1 of the Best Stocks to Own in 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=2192973639","media":"Motley Fool","summary":"The company is gaining market share in an industry growing by hundreds of billions of dollars this year.","content":"<p><b>Airbnb</b> (NASDAQ:ABNB) was one of many companies adversely impacted by the coronavirus pandemic. The company helps facilitate travel worldwide, so it's not surprising that when a sometimes deadly virus reduces the appetite for travel, it will harm Airbnb's business.</p>\n<p>While the virus is still widely circulating, more and more people are feeling better about traveling and booking more trips. That's partly due to the development of several effective vaccines against COVID-19. Indeed, more than 8.5 billion doses of such vaccines have been administered worldwide as of this writing.</p>\n<p>That partial return to travel has helped Airbnb recover from revenue losses caused by the pandemic. Here's why it could be one of the best stocks to own in 2022.</p>\n<h2>Airbnb is gaining market share</h2>\n<p>Interestingly, Airbnb's revenue is already ahead of the levels it achieved before the outbreak. In its most recent quarter ended Sept. 30, Airbnb's reported revenue of $2.2 billion was 36% higher than in the same quarter in 2019.</p>\n<p>Airbnb does not generate revenue by renting out its own locations. Instead, it brings together travelers and hosts and charges fees to each to use its service. The $2.2 billion in revenue it earned came from $11.9 billion in gross booking value on its platform.</p>\n<p>Airbnb is gaining traction with consumers because of its platform's convenience and selection. On Airbnb, folks can find small rooms or large homes, places to stay in large cities or small towns, and the lengths of stay vary from a couple of days to a couple of months. That's all in stark contrast to hotels, which usually offer only a few room options in far fewer locations.</p>\n<p>Airbnb gaining market share in the massive hotel and resort industry is great news for investors. In 2019, before the outbreak, Statista estimated the sector was worth $1.5 trillion in annual revenue. Of course, the pandemic slashed that overall market potential in 2020 to $610 billion, and it's only estimated to recover to $950 billion in 2021. That means there is plenty of room for travel to return to full strength, but Airbnb has already eclipsed its revenue total before the outbreak.</p>\n<p>Moreover, Airbnb's quarterly booking value of $11.9 billion highlights plenty of room for it to grow by gaining market share, in addition to the overall industry rebounding to levels from before the outbreak.</p>\n<h2>Airbnb is an excellent stock trading cheaply</h2>\n<p>Airbnb undoubtedly has excellent prospects over the next several years as the travel industry rebounds and Airbnb takes a larger share of the market. Its stock is currently trading at 52-week lows, which makes it more appealing as an investment. Looking at its price-to-free-cash-flow ratio of 62, it's at the lowest of the year. Moreover, looking at its price-to-sales ratio of 19.7, it's very near the year's lowest price.</p>\n<p>For those reasons and others, Airbnb could be one of the best stocks to own now as we head into 2022 and as the world recovers from COVID-19.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Airbnb Could Be 1 of the Best Stocks to Own in 2022</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: 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\">\nWhy Airbnb Could Be 1 of the Best Stocks to Own in 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-17 22:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/12/17/airbnb-could-be-best-stock-to-own-in-2022/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Airbnb (NASDAQ:ABNB) was one of many companies adversely impacted by the coronavirus pandemic. The company helps facilitate travel worldwide, so it's not surprising that when a sometimes deadly virus ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/17/airbnb-could-be-best-stock-to-own-in-2022/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/12/17/airbnb-could-be-best-stock-to-own-in-2022/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2192973639","content_text":"Airbnb (NASDAQ:ABNB) was one of many companies adversely impacted by the coronavirus pandemic. The company helps facilitate travel worldwide, so it's not surprising that when a sometimes deadly virus reduces the appetite for travel, it will harm Airbnb's business.\nWhile the virus is still widely circulating, more and more people are feeling better about traveling and booking more trips. That's partly due to the development of several effective vaccines against COVID-19. Indeed, more than 8.5 billion doses of such vaccines have been administered worldwide as of this writing.\nThat partial return to travel has helped Airbnb recover from revenue losses caused by the pandemic. Here's why it could be one of the best stocks to own in 2022.\nAirbnb is gaining market share\nInterestingly, Airbnb's revenue is already ahead of the levels it achieved before the outbreak. In its most recent quarter ended Sept. 30, Airbnb's reported revenue of $2.2 billion was 36% higher than in the same quarter in 2019.\nAirbnb does not generate revenue by renting out its own locations. Instead, it brings together travelers and hosts and charges fees to each to use its service. The $2.2 billion in revenue it earned came from $11.9 billion in gross booking value on its platform.\nAirbnb is gaining traction with consumers because of its platform's convenience and selection. On Airbnb, folks can find small rooms or large homes, places to stay in large cities or small towns, and the lengths of stay vary from a couple of days to a couple of months. That's all in stark contrast to hotels, which usually offer only a few room options in far fewer locations.\nAirbnb gaining market share in the massive hotel and resort industry is great news for investors. In 2019, before the outbreak, Statista estimated the sector was worth $1.5 trillion in annual revenue. Of course, the pandemic slashed that overall market potential in 2020 to $610 billion, and it's only estimated to recover to $950 billion in 2021. That means there is plenty of room for travel to return to full strength, but Airbnb has already eclipsed its revenue total before the outbreak.\nMoreover, Airbnb's quarterly booking value of $11.9 billion highlights plenty of room for it to grow by gaining market share, in addition to the overall industry rebounding to levels from before the outbreak.\nAirbnb is an excellent stock trading cheaply\nAirbnb undoubtedly has excellent prospects over the next several years as the travel industry rebounds and Airbnb takes a larger share of the market. Its stock is currently trading at 52-week lows, which makes it more appealing as an investment. Looking at its price-to-free-cash-flow ratio of 62, it's at the lowest of the year. Moreover, looking at its price-to-sales ratio of 19.7, it's very near the year's lowest price.\nFor those reasons and others, Airbnb could be one of the best stocks to own now as we head into 2022 and as the world recovers from COVID-19.","news_type":1,"symbols_score_info":{"ABNB":0.9}},"isVote":1,"tweetType":1,"viewCount":2166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":168559848,"gmtCreate":1623979170684,"gmtModify":1634024859444,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Great company..&nbsp;","listText":"Great company..&nbsp;","text":"Great company..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/168559848","repostId":"1175693382","repostType":4,"repost":{"id":"1175693382","kind":"news","pubTimestamp":1623978463,"share":"https://ttm.financial/m/news/1175693382?lang=&edition=full","pubTime":"2021-06-18 09:07","market":"hk","language":"en","title":"Alibaba Stock: The Bottoming Process Looks To Be Forming Already","url":"https://stock-news.laohu8.com/highlight/detail?id=1175693382","media":"seekingalpha","summary":"Alibaba is probably the most undervalued growth stock right now.The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.The short term technical picture may be turning bullish with a potential double bottom price action signal.When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is probably the most undervalued growth stock right now.</li>\n <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>\n <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>\n <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p>\n<p><b>The Technical Thesis</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p>\n<p>Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p>\n<p><b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p>\n<p>BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p>\n<p>Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p>\n<p>When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p>\n<p>Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p>\n<p>One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p>\n<p>Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p>\n<p>Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p>\n<p>We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p>\n<p>BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p>\n<p>Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p>\n<p><b>BABA's Valuations Look Highly Compelling</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p>\n<p>When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p>\n<p>By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p>\n<p><b>Risks to Assumptions</b></p>\n<p>Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p>\n<p><b>Wrapping It All Up</b></p>\n<p>Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Stock: The Bottoming Process Looks To Be Forming Already</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: 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\">\nAlibaba Stock: The Bottoming Process Looks To Be Forming Already\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 09:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short...</p>\n\n<a href=\"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175693382","content_text":"Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short term technical picture may be turning bullish with a potential double bottom price action signal.\nWe discuss the company’s multiple growth drivers and let investors judge for themselves.\n\nYongyuan Dai/iStock Unreleased via Getty Images\nThe Technical Thesis\nSource: TradingView\nAlibaba’s stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.\nBABA's Fundamental Thesis: Rapidly Expanding Growth Drivers\nAnnual GMV. Data source: Company filings\nAnnual e-commerce revenue. Data source: Company filings\nBABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.\nEven though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.\nE-commerce revenue in the U.S. Data source: Statista\nWhen we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.\nPeers EBIT Margin and Projected EBIT Margin. Data source: S&P Capital IQ\nEven though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&A, and therefore skewed its EBIT margin to the downside.\nOne important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of 823M AAC in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only 100M AAC in Q2’C17 as compared to BABA’s 466M AAC in the same period.\nTherefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.\nMarket size of community group buying in China. Data source: iiMedia Research\nEven though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.\nPDD profitability metrics & revenue growth forecast. Data source: S&P Capital IQ\nWe could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.\nChina public cloud spending. Source:China Internet Watch; Canalys\nSize of China public cloud market. Data source: CAICT; Sina.com.cn\nBABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.\nWorldwide public cloud spending. Data source: Gartner\nWorldwide public cloud market share. Source:CnTechPost; Gartner\nTherefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.\nBABA's Valuations Look Highly Compelling\nNTM TEV / EBIT 3Y range.\nEV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&P Capital IQ\nWhen we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.\nPeers EV / EBIT Valuations. Data source: S&P Capital IQ\nBy using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.\nRisks to Assumptions\nNow, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.\nWrapping It All Up\nAlibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115511695,"gmtCreate":1623022378017,"gmtModify":1634096253899,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Any other options?&nbsp;","listText":"Any other options?&nbsp;","text":"Any other options?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/115511695","repostId":"1102972710","repostType":4,"repost":{"id":"1102972710","kind":"news","pubTimestamp":1622948427,"share":"https://ttm.financial/m/news/1102972710?lang=&edition=full","pubTime":"2021-06-06 11:00","market":"us","language":"en","title":"Micron: A Strong Chip Shortage Play","url":"https://stock-news.laohu8.com/highlight/detail?id=1102972710","media":"seekingalpha","summary":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favo","content":"<p><b>Summary</b></p>\n<ul>\n <li>Micron's four business units have sizable TAMs.</li>\n <li>Both the DRAM and NAND industries have favourable outlooks.</li>\n <li>Industry tailwinds point to pricing power and expanding margins.</li>\n <li>The strong financials of the company will serve them well in the current high-volatility environment.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b87dd8114b0aa47fdcdd26e5dc40d5ee\" tg-width=\"1536\" tg-height=\"896\"><span>Photo by vchal/iStock via Getty Images</span></p>\n<p>Micron Technology(NASDAQ:MU)&nbsp;is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as&nbsp;auto manufacturers forced to slash production.</p>\n<p>Semiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.</p>\n<p><b>Business Model</b></p>\n<p>Micron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even&nbsp;3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:</p>\n<blockquote>\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n</blockquote>\n<p>As promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.</p>\n<p><b>DRAM and NAND</b></p>\n<p>DRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.</p>\n<p>It is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.</p>\n<p>The DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with&nbsp;23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung &amp; SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the&nbsp;largest consumer of DRAMs&nbsp;by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17c2b471dd41b837a1ad129c180fa0b9\" tg-width=\"640\" tg-height=\"368\"><span>Source: Statista Global DRAM Market Share</span></p>\n<p>As of the latest fiscal quarter 21, DRAM sales represented&nbsp;71.26%&nbsp;of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.</p>\n<p>Historically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/371a886343d14f2ba3407afa02804db5\" tg-width=\"640\" tg-height=\"526\"><span>Source: Author's Compilations</span></p>\n<p>TAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.</p>\n<p>Micron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful&nbsp;26.46%&nbsp;as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.</p>\n<p>Likewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has&nbsp;announced plans to acquire&nbsp;Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2b8da20e0246607003c65afa09ff3998\" tg-width=\"640\" tg-height=\"403\"><span>Source: Statista Global NAND Flash Market Share</span></p>\n<p>Despite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a&nbsp;similar bid for $30 BN&nbsp;to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e220cb5c3b6dea5d0f84bde25765bfa\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc8e8ee498e5b2469b09b1605b2ef98a\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p>The $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap &amp; EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather&nbsp;long history of acquisitions&nbsp;having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory &amp; Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.</p>\n<p>If successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.</p>\n<p><b>More Conviction</b></p>\n<p>For more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8953a521354fd97f74d0f8694e0a0ee6\" tg-width=\"640\" tg-height=\"204\"><span>Source: Micron's Q2 Investor Presentation</span></p>\n<p>As of FQ-2 21, CNBUs (Compute &amp; Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM &amp; NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the&nbsp;10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.</p>\n<p>MBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to&nbsp;Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.</p>\n<p>However, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to&nbsp;50% market share&nbsp;in the space, according to Trendforce, a world leading market intelligence provider.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e31402367246f258d67658ada2e3a41e\" tg-width=\"640\" tg-height=\"229\"><span>Source: Micron's Automotive Division</span></p>\n<p>This is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from&nbsp;DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than&nbsp;30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs &amp; AVs.</p>\n<p>As it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S &amp; X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the&nbsp;next generation of Tesla Models will have even more at 20GB.</p>\n<p>The growing automobile memory space where Micron has maintained its underdog&nbsp;30-year leadership&nbsp;will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.</p>\n<p><b>Industry Tailwinds</b></p>\n<p>Moving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.</p>\n<p>For a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.</p>\n<p>When the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.</p>\n<p>When firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.</p>\n<p>Looking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/18c32366202010d3411e7888fcae587f\" tg-width=\"640\" tg-height=\"393\"><span>Source: Author's Compilations</span></p>\n<p>2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/060cf4c42cb775ea2a1d35cbd3b796e1\" tg-width=\"640\" tg-height=\"261\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p>The industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by&nbsp;Trendforce:</p>\n<blockquote>\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 &amp; they already rose 3-8% in the first quarter of 2021.\n</blockquote>\n<p>Call it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff33c479a31ba4e4ee56a91be2d78318\" tg-width=\"456\" tg-height=\"111\"><span>Source: Seeking Alpha</span></p>\n<p>In the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.</p>\n<p><b>Financials</b></p>\n<p>Q1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/07766c05dc0d46a9660c290084da2442\" tg-width=\"640\" tg-height=\"209\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9d3f14c1b13fc41c6c44c29f8a947fb\" tg-width=\"451\" tg-height=\"145\"><span>Source: Seeking Alpha</span></p>\n<p>Management also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on&nbsp;6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.</p>\n<p>As mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fe3bd33eeed49eebb87776a32f152e41\" tg-width=\"640\" tg-height=\"137\"><span>Source: Tikr</span></p>\n<p>Next, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/14d722c6a10e22e26e12a82be0a69481\" tg-width=\"640\" tg-height=\"125\"><span>Source: Tikr</span></p>\n<p>Although Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.</p>\n<p>Analysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.</p>\n<p>FCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.</p>\n<p>Currently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.</p>\n<p><b>Risks</b></p>\n<p>No matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.</p>\n<p>With the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.</p>\n<p>Government subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing&nbsp;prosecution&nbsp;for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.</p>\n<p>Changing industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.</p>\n<p>Other potential risks may include further unexpected impacts to Micron's power plants such as&nbsp;outages and floods&nbsp;similar to what happened in Taiwan last year.</p>\n<p><b>Valuation</b></p>\n<p>Finally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00bc87a283f9420f33b1c7c52ad2f344\" tg-width=\"640\" tg-height=\"384\"><span>A005930 refers to Samsung and A000660 refers to SK Hynix</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb98c272aeec7c9aefdab00d22955f64\" tg-width=\"611\" tg-height=\"367\"><span>Source: Author's Compilations</span></p>\n<p>We can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.</p>\n<p><img src=\"https://static.tigerbbs.com/c4effc3d3acfdad8726c391bb0872880\" tg-width=\"640\" tg-height=\"229\"></p>\n<p>Keeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.</p>\n<p>If I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.</p>\n<p>Since I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&amp;P 500.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e6626b3363e839c178999a3d2b48940\" tg-width=\"640\" tg-height=\"46\"><span>Source: Tikr</span></p>\n<p>The current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the&nbsp;semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea91b1b8e3f714b2441d27be59a6c538\" tg-width=\"640\" tg-height=\"64\"><span>Source: CSI Market</span></p>\n<p>Micron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9c6db0e4e02a94b2ed6ad9df84767cc9\" tg-width=\"640\" tg-height=\"110\"><span>Source: Seeking Alpha</span></p>\n<p><b>Final Takeaways</b></p>\n<p>Based on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.</p>\n<p>In this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.</p>\n<p>I have noticed that there has been some&nbsp;concerns&nbsp;regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.</p>\n<p>I personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production &amp; CAPEX levels can shift the tide quickly.</p>\n<p>As a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.</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>Micron: A Strong Chip Shortage Play</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: 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\">\nMicron: A Strong Chip Shortage Play\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong ...</p>\n\n<a href=\"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技"},"source_url":"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102972710","content_text":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong financials of the company will serve them well in the current high-volatility environment.\n\nPhoto by vchal/iStock via Getty Images\nMicron Technology(NASDAQ:MU) is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as auto manufacturers forced to slash production.\nSemiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.\nBusiness Model\nMicron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even 3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:\n\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n\nAs promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.\nDRAM and NAND\nDRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.\nIt is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.\nThe DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with 23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung & SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the largest consumer of DRAMs by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.\nSource: Statista Global DRAM Market Share\nAs of the latest fiscal quarter 21, DRAM sales represented 71.26% of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.\nHistorically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.\nSource: Author's Compilations\nTAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.\nMicron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful 26.46% as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.\nLikewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has announced plans to acquire Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.\nSource: Statista Global NAND Flash Market Share\nDespite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a similar bid for $30 BN to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.\nSource: Author's Compilations\nSource: Author's Compilations\nThe $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap & EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather long history of acquisitions having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory & Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.\nIf successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.\nMore Conviction\nFor more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.\nSource: Micron's Q2 Investor Presentation\nAs of FQ-2 21, CNBUs (Compute & Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM & NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the 10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.\nMBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.\nHowever, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to 50% market share in the space, according to Trendforce, a world leading market intelligence provider.\nSource: Micron's Automotive Division\nThis is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than 30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs & AVs.\nAs it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S & X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the next generation of Tesla Models will have even more at 20GB.\nThe growing automobile memory space where Micron has maintained its underdog 30-year leadership will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.\nIndustry Tailwinds\nMoving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.\nFor a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.\nWhen the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.\nWhen firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.\nLooking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.\nSource: Author's Compilations\n2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.\nSource: Micron FQ-2 Investor Presentation\nThe industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by Trendforce:\n\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 & they already rose 3-8% in the first quarter of 2021.\n\nCall it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.\nSource: Seeking Alpha\nIn the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.\nFinancials\nQ1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.\nSource: Micron FQ-2 Investor Presentation\nSource: Seeking Alpha\nManagement also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on 6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.\nAs mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.\nSource: Tikr\nNext, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.\nSource: Tikr\nAlthough Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.\nAnalysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.\nFCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.\nCurrently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.\nRisks\nNo matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.\nWith the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.\nGovernment subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing prosecution for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.\nChanging industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.\nOther potential risks may include further unexpected impacts to Micron's power plants such as outages and floods similar to what happened in Taiwan last year.\nValuation\nFinally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.\nA005930 refers to Samsung and A000660 refers to SK Hynix\nSource: Author's Compilations\nWe can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.\n\nKeeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.\nIf I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.\nSince I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&P 500.\nSource: Tikr\nThe current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.\nSource: CSI Market\nMicron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.\nSource: Seeking Alpha\nFinal Takeaways\nBased on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.\nIn this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.\nI have noticed that there has been some concerns regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.\nI personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production & CAPEX levels can shift the tide quickly.\nAs a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.","news_type":1,"symbols_score_info":{"MU":0.9}},"isVote":1,"tweetType":1,"viewCount":428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113165901,"gmtCreate":1622598601203,"gmtModify":1634100071269,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"Sign of recovery in economy activities?","listText":"Sign of recovery in economy activities?","text":"Sign of recovery in economy activities?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/113165901","repostId":"1146862408","repostType":4,"isVote":1,"tweetType":1,"viewCount":318,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134508178,"gmtCreate":1622246650694,"gmtModify":1634182551791,"author":{"id":"3579568649549102","authorId":"3579568649549102","name":"KF73","avatar":"https://static.tigerbbs.com/08cb18d8dbd8d12a776f947554bdb6e6","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579568649549102","idStr":"3579568649549102"},"themes":[],"htmlText":"At least for now...&nbsp;","listText":"At least for now...&nbsp;","text":"At least for now...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/134508178","repostId":"2138948877","repostType":4,"repost":{"id":"2138948877","kind":"highlight","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1622215813,"share":"https://ttm.financial/m/news/2138948877?lang=&edition=full","pubTime":"2021-05-28 23:30","market":"us","language":"en","title":"The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever","url":"https://stock-news.laohu8.com/highlight/detail?id=2138948877","media":"Investors","summary":"Vacation trends reveal shifts toward privacy, luxury and family, continuing a transformative period for leisure and travel stocks.","content":"<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever</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: 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\">\nThe Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time\">2021-05-28 23:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WGO":"温尼巴格实业"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138948877","content_text":"Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like Airbnb that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.Leisure, Travel Industry StocksShares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.Airline stocks like American Airlines, United Airlines and Delta Air Lines surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.Cruise stocks like Carnival, Royal Caribbean and Norwegian Cruise Line are showing similar patterns.Meanwhile, shares of boat makers MarineMax and Brunswick as well as RV makers Winnebago and Thor Industries need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.Hotel leader Marriott has been less volatile and is forming a base, though earnings and sales have yet to fully recover.Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from Expedia rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.When Luxury Means More PrivacyLuxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.Private jet leasing company NetJets, which is owned by Berkshire Hathaway, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.Vacation Shift Favors These Travel StocksHotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes & Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.The Homes & Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.Seaworthy Travel Stocks Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick as well as sport boat maker Malibu Boats.\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.Travel Stocks For Being Alone TogetherThe desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.\"The rediscovery of America will continue this summer,\" Weissman said.The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.Work-Life RebalanceAs people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"Future Of Business Travel?That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.Experts say fewer workers may fly for one-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in one house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"","news_type":1,"symbols_score_info":{"WGO":0.9}},"isVote":1,"tweetType":1,"viewCount":159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}