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2021-09-17

Agree. I think Ford will be a winner.

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2021-07-02

The winner is the cloud providers. As a long term strategy, I think it is still better for Apple to build and own their cloud.

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2021-07-01

It is proof that we need to stick to our guns when we believe in something.

ARK Innovation Is Coming Back Strongly. Here’s a Trade to Exploit It.<blockquote>方舟创新强势回归。这里有一个利用它的交易。</blockquote>

2021-10-10

$Berkshire Hathaway(BRK.B)$has been a good one for me. It's really like an actively managed etf, and the companies it owns are quite solid. No dividend, but it's OK. The earnings are reinvested into other companies.

3 Surefire Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的3只万无一失的股票</blockquote>

2021-07-12

Well written article. Just need to look at the part on fundamentals of the stock. Says it all...

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2021-08-17

NIO should be one of the winners in China's EV market. Hold on tight!

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2021-08-02

Tonight's US market showing will be interesting.

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2021-06-09

What is the fundamentals of Clover? (Havent read yet...) not that I believe the institutional short sellers too. [开心]

Clover Health Roars to Record as Short Sellers Get Burned<blockquote>卖空者被烧伤，三叶草健康飙升至创纪录水平</blockquote>

2021-06-14

It has been quite a ride for $Baidu(BIDU)$. I think it can get back to the 250-300 level.

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Just don't understand why NIO is losing favor with market...","listText":"It is a good development. Just don't understand why NIO is losing favor with market...","text":"It is a good development. Just don't understand why NIO is losing favor with market...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696883298","repostId":"1199133469","repostType":2,"repost":{"id":"1199133469","kind":"news","pubTimestamp":1640657018,"share":"https://www.laohu8.com/m/news/1199133469?lang=zh_CN&edition=full","pubTime":"2021-12-28 10:03","market":"us","language":"en","title":"NIO Stock Alert: What Is Going on With Nio Today?<blockquote>蔚来股票警报：蔚来今天发生了什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199133469","media":"InvestorPlace","summary":"Chinese electric vehicle maker Nio(NYSE:NIO) is attracting a great deal of attention today, amid spe","content":"<p><div> Chinese electric vehicle maker Nio(NYSE:NIO) is attracting a great deal of attention today, amid speculation that the automaker could be preparing to enter the U.S. Although shares have since reversed...</p><p><blockquote><div>中国电动汽车制造商蔚来（纽约证券交易所股票代码：蔚来）今天引起了广泛关注，人们猜测该汽车制造商可能正准备进入美国。尽管此后股价出现逆转……</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/nio-stock-alert-what-is-going-on-with-nio-today/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/nio-stock-alert-what-is-going-on-with-nio-today/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO Stock Alert: What Is Going on With Nio Today?<blockquote>蔚来股票警报：蔚来今天发生了什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO Stock Alert: What Is Going on With Nio Today?<blockquote>蔚来股票警报：蔚来今天发生了什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-12-28 10:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Chinese electric vehicle maker Nio(NYSE:NIO) is attracting a great deal of attention today, amid speculation that the automaker could be preparing to enter the U.S. Although shares have since reversed...</p><p><blockquote><div>中国电动汽车制造商蔚来（纽约证券交易所股票代码：蔚来）今天引起了广泛关注，人们猜测该汽车制造商可能正准备进入美国。尽管此后股价出现逆转……</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/nio-stock-alert-what-is-going-on-with-nio-today/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/nio-stock-alert-what-is-going-on-with-nio-today/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/12/nio-stock-alert-what-is-going-on-with-nio-today/\">InvestorPlace</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://investorplace.com/2021/12/nio-stock-alert-what-is-going-on-with-nio-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199133469","content_text":"Chinese electric vehicle maker Nio(NYSE:NIO) is attracting a great deal of attention today, amid speculation that the automaker could be preparing to enter the U.S. Although shares have since reversed course, NIO stock slid nearly 2% today. It is also a top-trending stock on Yahoo Financeand social media today.\nSince U.S. EV sales are growing rapidly and Nio is seen by some as China’s version of Tesla(NASDAQ:TSLA), Nio’s move into the U.S. could greatly boost its financial results down the road.  Such a development, in turn, is likely to meaningfully lift NIO stock.\nJob Ads Lift NIO Stock\nToday’s buzz was sparked by advertisements for U.S.-based positions that Nio recently posted on LinkedIn. Specifically, the firm has posted ads for 46 positions in America. Many of the jobs focus on managing technical operations, including software development and autonomous driving.\nAmong the U.S.-based positions that Niois currently seeking are Head of Architecture & Design, Head of Power Strategy, and Audio Systems Architect. Most of the positions are based in San Jose, California.\nA number of the advertisements went live a month ago, while others have been posted in recent days.\nBut why do investors care? Several months ago, investors determined that Nio was preparing to enter Norway based on job ads from LinkedIn.\nTherefore, it’s reasonable to believe that, with the EV manufacturer posting ads for jobs in the U.S., it may be preparing to start selling its automobiles in America.\nProgress in Norway and China\nAt the same time, Nio is making progress in its existing markets, which is likely to intrigue investors. Nio launched its ES8 sedan in Norway on Sept. 30. It’s planning to debut another electric sedan, the ET7, in the country in 2022. After Norway, Nio is expected to “gradually” enter additional markets in Europe.\nIn China, Nio’s sales have been growing rapidly. For example, in November, it announced that its deliveries had soared 105.6% year over year to 10,878 EVs. In the first 11 months of the year, its deliveries jumped 120.4% YOY to 80,940 EVs.\nThe Bottom Line\nToday’s news comes amid high interest by investors in both EV stocks and Chinese stocks. EV stocks have been an area of focus as sales rapidly ramp around the world and as many governments look to incentivize EV sales in order to reduce carbon emissions.\nMeanwhile, many investors have closely followed U.S.-listed Chinese stocks. It seems these two factors are also contributing to the interest in Nio shares today.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":3972,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691799321,"gmtCreate":1640238051326,"gmtModify":1640238051740,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"If you have 1k, would you invest in GRAB or SE? Which will have better capital Efficiencies?","listText":"If you have 1k, would you invest in GRAB or SE? Which will have better capital Efficiencies?","text":"If you have 1k, would you invest in GRAB or SE? Which will have better capital Efficiencies?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691799321","repostId":"1151093531","repostType":4,"repost":{"id":"1151093531","kind":"news","pubTimestamp":1640229464,"share":"https://www.laohu8.com/m/news/1151093531?lang=zh_CN&edition=full","pubTime":"2021-12-23 11:17","market":"us","language":"en","title":"An Intrinsic Calculation For Sea Limited (NYSE:SE) Suggests It's 38% Undervalued<blockquote>Sea Limited(NYSE：SE)的内在计算表明其价值被低估了38%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151093531","media":"Nasdaq","summary":"Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Sea","content":"<p>Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Sea Limited (NYSE:SE) as an investment opportunity by projecting its future cash flows and then discounting them to today's value. Our analysis will employ the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.</p><p><blockquote>今天，我们将简单介绍一种估值方法，该方法用于通过预测Sea Limited（纽约证券交易所股票代码：SE）的未来现金流，然后将其贴现至当前价值来估计其作为投资机会的吸引力。我们的分析将采用贴现现金流（DCF）模型。在你认为你无法理解它之前，请继续读下去！它实际上比你想象的要简单得多。</blockquote></p><p> Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. For those who are keen learners of equity analysis, theSimply Wall St analysis model heremay be something of interest to you.</p><p><blockquote>公司可以通过多种方式进行估值，因此我们要指出，DCF并不适合所有情况。对于那些热衷于学习股票分析的人来说，这里简单的华尔街分析模型可能会让你感兴趣。</blockquote></p><p> The method</p><p><blockquote>方法</blockquote></p><p> We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.</p><p><blockquote>我们使用两阶段增长模型，这仅仅意味着我们考虑了公司增长的两个阶段。在初始阶段，公司可能有较高的增长率，而第二阶段通常被认为有稳定的增长率。首先，我们需要估计未来十年的现金流。在可能的情况下，我们使用分析师的估计，但当这些估计不可用时，我们从最后一次估计或报告的价值推断之前的自由现金流(FCF)。我们假设自由现金流萎缩的公司将放缓其萎缩速度，而自由现金流增长的公司在此期间的增长率将放缓。我们这样做是为了反映早年的增长往往比晚年放缓得更多。</blockquote></p><p> A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars:<img src=\"https://static.tigerbbs.com/900a00b739c53cb9c592a1ff4cb5eaff\" tg-width=\"614\" tg-height=\"239\" width=\"100%\" height=\"auto\">(\"Est\" = FCF growth rate estimated by Simply Wall St)</p><p><blockquote>DCF的理念是未来一美元的价值低于今天的一美元，因此我们将这些未来现金流的价值贴现为以今天美元计算的估计价值：（“Est”=Simply Wall St估计的FCF增长率）</blockquote></p><p> <b>Present Value of 10-year Cash Flow (PVCF)</b>= US$46b</p><p><blockquote><b>10年现金流现值（PVCF）</b>=46b美元</blockquote></p><p> After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 6.3%.</p><p><blockquote>在计算了最初10年期间未来现金流的现值后，我们需要计算终值，它占了第一阶段以外的所有未来现金流。出于多种原因，使用了一个非常保守的增长率，不能超过一个国家的GDP增长率。在这种情况下，我们使用10年期政府债券收益率的5年平均值（2.0%）来估计未来的增长。与10年“增长”期相同，我们使用6.3%的权益成本将未来现金流贴现为今天的价值。</blockquote></p><p> <b>Terminal Value (TV)</b>= FCF2031× (1 + g) ÷ (r – g) = US$13b× (1 + 2.0%) ÷ (6.3%– 2.0%) = US$293b</p><p><blockquote><b>终端值（TV）</b>=FCF 2031 ×(1+g)÷(R-G)=13b美元×(1+2.0%)÷(6.3%-2.0%)=2930亿美元</blockquote></p><p> <b>Present Value of Terminal Value (PVTV)</b>= TV / (1 + r)10= US$293b÷ ( 1 + 6.3%)10= US$159b</p><p><blockquote><b>终值现值（PVTV）</b>=TV/(1+r)10=2930亿美元÷(1+6.3%)10=1590亿美元</blockquote></p><p> The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$204b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of US$228, the company appears quite good value at a 38% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.</p><p><blockquote>总价值是未来十年的现金流加上贴现的最终价值之和，得出总股权价值，在本例中为2040亿美元。为了得到每股的内在价值，我们将其除以已发行股票总数。与目前228美元的股价相比，该公司的价值似乎相当不错，比目前的股价折价38%。但请记住，这只是一个近似的估值，就像任何复杂的公式一样——垃圾进，垃圾出。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d031f94f7285b2dd74b50be13b78ca2d\" tg-width=\"853\" tg-height=\"380\" width=\"100%\" height=\"auto\">The assumptions</p><p><blockquote>假设</blockquote></p><p> The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Sea as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.3%, which is based on a levered beta of 1.000. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.</p><p><blockquote>上面的计算非常依赖于两个假设。第一个是贴现率，另一个是现金流量。你不必同意这些输入，我建议你自己重做计算，玩玩它们。DCF也不考虑行业可能的周期性，或公司未来的资本要求，因此它不能全面反映公司的潜在业绩。鉴于我们将Sea视为潜在股东，因此使用股权成本作为贴现率，而不是占债务的资本成本（或加权平均资本成本，WACC）。在此计算中，我们使用了6.3%，这是基于1.000的杠杆贝塔值。贝塔值是衡量股票相对于整个市场波动性的指标。我们从全球可比公司的行业平均贝塔值中获取贝塔值，限制在0.8到2.0之间，这是稳定业务的合理范围。</blockquote></p><p> Looking Ahead:</p><p><blockquote>展望未来：</blockquote></p><p> Whilst important, the DCF calculation shouldn't be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Can we work out why the company is trading at a discount to intrinsic value? For Sea, we've compiled three further items you should assess:</p><p><blockquote>虽然DCF计算很重要，但它不应该是你在研究一家公司时考虑的唯一指标。DCF模型并不是完美的股票估值工具。最好是应用不同的案例和假设，看看它们会如何影响公司的估值。如果一家公司以不同的速度增长，或者如果其股本成本或无风险利率急剧变化，产出可能会非常不同。我们能弄清楚为什么公司的交易价格低于内在价值吗？对于Sea，我们还编制了您应该评估的三个项目：</blockquote></p><p></p><p> <ol>  <li><b>Risks</b>: To that end, you should be aware of the<b>2 warning signs</b>&nbsp;we've spotted with Sea.</li>  <li><b>Future Earnings</b>: How does SE's growth rate compare to its peers and the wider market?</li>  <li><b>Other High Quality Alternatives</b>: Do you like a good all-rounder?</li> </ol></p><p><blockquote><ol><li><b>风险</b>：为此，您应该了解<b>2警告标志</b>我们发现了大海。</li><li><b>未来收益</b>：与同行和更广泛的市场相比，SE的增长率如何？</li><li><b>其他高质量替代品</b>：你喜欢一个好的全能选手吗？</li></ol></blockquote></p><p></p>","source":"lsy1603171495471","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>An Intrinsic Calculation For Sea Limited (NYSE:SE) Suggests It's 38% Undervalued<blockquote>Sea Limited(NYSE：SE)的内在计算表明其价值被低估了38%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAn Intrinsic Calculation For Sea Limited (NYSE:SE) Suggests It's 38% Undervalued<blockquote>Sea Limited(NYSE：SE)的内在计算表明其价值被低估了38%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-12-23 11:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Sea Limited (NYSE:SE) as an investment opportunity by projecting its future cash flows and then discounting them to today's value. Our analysis will employ the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.</p><p><blockquote>今天，我们将简单介绍一种估值方法，该方法用于通过预测Sea Limited（纽约证券交易所股票代码：SE）的未来现金流，然后将其贴现至当前价值来估计其作为投资机会的吸引力。我们的分析将采用贴现现金流（DCF）模型。在你认为你无法理解它之前，请继续读下去！它实际上比你想象的要简单得多。</blockquote></p><p> Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. For those who are keen learners of equity analysis, theSimply Wall St analysis model heremay be something of interest to you.</p><p><blockquote>公司可以通过多种方式进行估值，因此我们要指出，DCF并不适合所有情况。对于那些热衷于学习股票分析的人来说，这里简单的华尔街分析模型可能会让你感兴趣。</blockquote></p><p> The method</p><p><blockquote>方法</blockquote></p><p> We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.</p><p><blockquote>我们使用两阶段增长模型，这仅仅意味着我们考虑了公司增长的两个阶段。在初始阶段，公司可能有较高的增长率，而第二阶段通常被认为有稳定的增长率。首先，我们需要估计未来十年的现金流。在可能的情况下，我们使用分析师的估计，但当这些估计不可用时，我们从最后一次估计或报告的价值推断之前的自由现金流(FCF)。我们假设自由现金流萎缩的公司将放缓其萎缩速度，而自由现金流增长的公司在此期间的增长率将放缓。我们这样做是为了反映早年的增长往往比晚年放缓得更多。</blockquote></p><p> A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars:<img src=\"https://static.tigerbbs.com/900a00b739c53cb9c592a1ff4cb5eaff\" tg-width=\"614\" tg-height=\"239\" width=\"100%\" height=\"auto\">(\"Est\" = FCF growth rate estimated by Simply Wall St)</p><p><blockquote>DCF的理念是未来一美元的价值低于今天的一美元，因此我们将这些未来现金流的价值贴现为以今天美元计算的估计价值：（“Est”=Simply Wall St估计的FCF增长率）</blockquote></p><p> <b>Present Value of 10-year Cash Flow (PVCF)</b>= US$46b</p><p><blockquote><b>10年现金流现值（PVCF）</b>=46b美元</blockquote></p><p> After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 6.3%.</p><p><blockquote>在计算了最初10年期间未来现金流的现值后，我们需要计算终值，它占了第一阶段以外的所有未来现金流。出于多种原因，使用了一个非常保守的增长率，不能超过一个国家的GDP增长率。在这种情况下，我们使用10年期政府债券收益率的5年平均值（2.0%）来估计未来的增长。与10年“增长”期相同，我们使用6.3%的权益成本将未来现金流贴现为今天的价值。</blockquote></p><p> <b>Terminal Value (TV)</b>= FCF2031× (1 + g) ÷ (r – g) = US$13b× (1 + 2.0%) ÷ (6.3%– 2.0%) = US$293b</p><p><blockquote><b>终端值（TV）</b>=FCF 2031 ×(1+g)÷(R-G)=13b美元×(1+2.0%)÷(6.3%-2.0%)=2930亿美元</blockquote></p><p> <b>Present Value of Terminal Value (PVTV)</b>= TV / (1 + r)10= US$293b÷ ( 1 + 6.3%)10= US$159b</p><p><blockquote><b>终值现值（PVTV）</b>=TV/(1+r)10=2930亿美元÷(1+6.3%)10=1590亿美元</blockquote></p><p> The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$204b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of US$228, the company appears quite good value at a 38% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.</p><p><blockquote>总价值是未来十年的现金流加上贴现的最终价值之和，得出总股权价值，在本例中为2040亿美元。为了得到每股的内在价值，我们将其除以已发行股票总数。与目前228美元的股价相比，该公司的价值似乎相当不错，比目前的股价折价38%。但请记住，这只是一个近似的估值，就像任何复杂的公式一样——垃圾进，垃圾出。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d031f94f7285b2dd74b50be13b78ca2d\" tg-width=\"853\" tg-height=\"380\" width=\"100%\" height=\"auto\">The assumptions</p><p><blockquote>假设</blockquote></p><p> The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Sea as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.3%, which is based on a levered beta of 1.000. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.</p><p><blockquote>上面的计算非常依赖于两个假设。第一个是贴现率，另一个是现金流量。你不必同意这些输入，我建议你自己重做计算，玩玩它们。DCF也不考虑行业可能的周期性，或公司未来的资本要求，因此它不能全面反映公司的潜在业绩。鉴于我们将Sea视为潜在股东，因此使用股权成本作为贴现率，而不是占债务的资本成本（或加权平均资本成本，WACC）。在此计算中，我们使用了6.3%，这是基于1.000的杠杆贝塔值。贝塔值是衡量股票相对于整个市场波动性的指标。我们从全球可比公司的行业平均贝塔值中获取贝塔值，限制在0.8到2.0之间，这是稳定业务的合理范围。</blockquote></p><p> Looking Ahead:</p><p><blockquote>展望未来：</blockquote></p><p> Whilst important, the DCF calculation shouldn't be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Can we work out why the company is trading at a discount to intrinsic value? For Sea, we've compiled three further items you should assess:</p><p><blockquote>虽然DCF计算很重要，但它不应该是你在研究一家公司时考虑的唯一指标。DCF模型并不是完美的股票估值工具。最好是应用不同的案例和假设，看看它们会如何影响公司的估值。如果一家公司以不同的速度增长，或者如果其股本成本或无风险利率急剧变化，产出可能会非常不同。我们能弄清楚为什么公司的交易价格低于内在价值吗？对于Sea，我们还编制了您应该评估的三个项目：</blockquote></p><p></p><p> <ol>  <li><b>Risks</b>: To that end, you should be aware of the<b>2 warning signs</b>&nbsp;we've spotted with Sea.</li>  <li><b>Future Earnings</b>: How does SE's growth rate compare to its peers and the wider market?</li>  <li><b>Other High Quality Alternatives</b>: Do you like a good all-rounder?</li> </ol></p><p><blockquote><ol><li><b>风险</b>：为此，您应该了解<b>2警告标志</b>我们发现了大海。</li><li><b>未来收益</b>：与同行和更广泛的市场相比，SE的增长率如何？</li><li><b>其他高质量替代品</b>：你喜欢一个好的全能选手吗？</li></ol></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/an-intrinsic-calculation-for-sea-limited-nyse%3Ase-suggests-its-38-undervalued\">Nasdaq</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://www.nasdaq.com/articles/an-intrinsic-calculation-for-sea-limited-nyse%3Ase-suggests-its-38-undervalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151093531","content_text":"Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Sea Limited (NYSE:SE) as an investment opportunity by projecting its future cash flows and then discounting them to today's value. Our analysis will employ the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.\nCompanies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. For those who are keen learners of equity analysis, theSimply Wall St analysis model heremay be something of interest to you.\nThe method\nWe're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.\nA DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars:(\"Est\" = FCF growth rate estimated by Simply Wall St)\nPresent Value of 10-year Cash Flow (PVCF)= US$46b\nAfter calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 6.3%.\nTerminal Value (TV)= FCF2031× (1 + g) ÷ (r – g) = US$13b× (1 + 2.0%) ÷ (6.3%– 2.0%) = US$293b\nPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$293b÷ ( 1 + 6.3%)10= US$159b\nThe total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$204b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of US$228, the company appears quite good value at a 38% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.\nThe assumptions\nThe calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Sea as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.3%, which is based on a levered beta of 1.000. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.\nLooking Ahead:\nWhilst important, the DCF calculation shouldn't be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Can we work out why the company is trading at a discount to intrinsic value? For Sea, we've compiled three further items you should assess:\n\nRisks: To that end, you should be aware of the2 warning signs we've spotted with Sea.\nFuture Earnings: How does SE's growth rate compare to its peers and the wider market?\nOther High Quality Alternatives: Do you like a good all-rounder?","news_type":1,"symbols_score_info":{"SE":0.9}},"isVote":1,"tweetType":1,"viewCount":2991,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691790213,"gmtCreate":1640237866745,"gmtModify":1640237867164,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"investing in GRAB is not just investing in the company. If you believe in Southeast Asia economies, then you should invest in GRAB!","listText":"investing in GRAB is not just investing in the company. If you believe in Southeast Asia economies, then you should invest in GRAB!","text":"investing in GRAB is not just investing in the company. If you believe in Southeast Asia economies, then you should invest in GRAB!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691790213","repostId":"1184389618","repostType":4,"repost":{"id":"1184389618","kind":"news","pubTimestamp":1640230223,"share":"https://www.laohu8.com/m/news/1184389618?lang=zh_CN&edition=full","pubTime":"2021-12-23 11:30","market":"us","language":"en","title":"Grab Stock May Be Down But It Isn’t Out<blockquote>Grab股票可能下跌，但尚未出局</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184389618","media":"InvestorPlace","summary":"When Southeast Asian ride-hailing and delivery company Grab Holdings(NASDAQ:GRAB) completed a revers","content":"<p><div> When Southeast Asian ride-hailing and delivery company Grab Holdings(NASDAQ:GRAB) completed a reverse merger with special purpose acquisition company Altimeter Growth Corp. in early December it made ...</p><p><blockquote><div>当东南亚叫车和送货公司Grab Holdings（纳斯达克：GRAB）在12月初完成与特殊目的收购公司Altimeter Growth Corp.的反向合并时，它...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/grab-stock-may-be-down-but-it-isnt-out/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/grab-stock-may-be-down-but-it-isnt-out/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","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 Stock May Be Down But It Isn’t Out<blockquote>Grab股票可能下跌，但尚未出局</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrab Stock May Be Down But It Isn’t Out<blockquote>Grab股票可能下跌，但尚未出局</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-12-23 11:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> When Southeast Asian ride-hailing and delivery company Grab Holdings(NASDAQ:GRAB) completed a reverse merger with special purpose acquisition company Altimeter Growth Corp. in early December it made ...</p><p><blockquote><div>当东南亚叫车和送货公司Grab Holdings（纳斯达克：GRAB）在12月初完成与特殊目的收购公司Altimeter Growth Corp.的反向合并时，它...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/12/grab-stock-may-be-down-but-it-isnt-out/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/12/grab-stock-may-be-down-but-it-isnt-out/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/12/grab-stock-may-be-down-but-it-isnt-out/\">InvestorPlace</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"source_url":"https://investorplace.com/2021/12/grab-stock-may-be-down-but-it-isnt-out/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184389618","content_text":"When Southeast Asian ride-hailing and delivery company Grab Holdings(NASDAQ:GRAB) completed a reverse merger with special purpose acquisition company Altimeter Growth Corp. in early December it made history as the largest company to go public via a SPAC merger. Yet, this didn’t stop GRAB stock from plummeting more than 20% on the day of the merger.\nSince then, investors have continued to give GRAB stock the cold shoulder, with shares falling another 16% to trade at $7.34 at the time of this writing.\nNow, before you write off an investment in Grab Holdings, consider that the company is still in the early innings and let’s consider where GRAB stock could go from here.\nWhat’s Behind Grab’s Cool Reception?\nGrab is the largest ride-hailing and delivery company in Southeast Asia, with operations in Singapore, Malaysia, Cambodia, Indonesia, Myanmar, Philippines, Thailand and Vietnam and serving more than 187 million users.\nThere are a number of plausible explanations for why GRAB stock has not been well-received by investors.\nFor starters, growth estimates for the Southeast Asian region have been lowered recently primarily due to the coronavirus pandemic. In September, the Asian Development Bank dropped its 2021 growth forecast for the region to 3.1% from 4.4% previously.\nWidespread lockdowns in the region due to recurring waves of COVID-19 have hurt demand for Grab’s ride-hailing services and weighed on revenue despite an increase in food-delivery volumes.\nGrab reported its third-quarter results on Nov. 11. Revenue fell 9% year over year to $157 million, with the company citing “a decline in mobility due to the severe lockdowns in Vietnam.” Falling revenue is obviously not something investors want to see, especially from a company that has yet to turn a profit.\nYet, the company did report a 32% year-over-year increase in gross merchandise value, with the dollar value of transactions from Grab’s services rising to $4.04 billion thanks to strength in the company’s deliveries segment.\nThere’s Reason for Optimism\nThe deal to go public through the merger with Altimeter Growth Corp. valued Grab at close to $40 billion, which as I mentioned, was a record. The fact that three weeks later GRAB stock has a market cap of about $27.5 billion tells us that perhaps things got a bit too heated. However, there is reason for optimism.\nThe ride-hailing platform has secured the backing of significant players across related industries, including DiDi Global(NYSE:DIDI),Toyota(NYSE:TM) and SoftBank’s(OTCMKTS:SFTBY) Vision Fund.\nGrab Holdings also has some positive catalysts on the horizon. For example, the company recently announced that it will be purchasing Jaya Grocer, a premium supermarket chain in Malaysia.\nThis acquisition fits nicely with the ride-hailing and delivery business model the company seeks to expand. Management refers to the model as a “superapp” focus, whereby users can access multiple services in a single, convenient location.\nThe Bottom Line on GRAB Stock\nI can’t say Grab Holdings can immediately turn things around. But its potential in the burgeoning Southeast Asian market means it remains relevant and has a long runway.\nOf the six analysts following GRAB stock, two rate it a “buy” and there are no “sell” ratings,according to The Wall Street Journal. Meanwhile, the consensus price target stands at $12.25, which represents upside of 67% from current levels.\nGRAB stock is very cheap now, so it’s hardly a dangerous speculative play. There’s a good argument to be made for investing now and hoping that the company continues to expand its footprint. Profitability should follow.","news_type":1,"symbols_score_info":{"GRAB":0.9}},"isVote":1,"tweetType":1,"viewCount":3356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691477371,"gmtCreate":1640235486365,"gmtModify":1640235486776,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Aapl should be in our portfolio. :-)","listText":"Aapl should be in our portfolio. :-)","text":"Aapl should be in our portfolio. :-)","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691477371","repostId":"1164467804","repostType":4,"repost":{"id":"1164467804","kind":"news","pubTimestamp":1640230809,"share":"https://www.laohu8.com/m/news/1164467804?lang=zh_CN&edition=full","pubTime":"2021-12-23 11:40","market":"us","language":"en","title":"Are there any bubbles in Apple stock?<blockquote>苹果股票有泡沫吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1164467804","media":"Seeking Alpha","summary":"Apple stock has risen 34% this year, beating the NASDAQ 100 by a wide margin.This has led some to say that the stock is in a bubble, as its price is rising rapidly.However, Apple's stock price gains are about in line with revenue growth, and actually slower than the most recent quarter's EPS growth.In this article, I will develop a bullish thesis on Apple, arguing that it has a wide moat that will power future growth and profitability.Apple Inc. stock has delivered a solid performance in 2021. U","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Apple stock has risen 34% this year, beating the NASDAQ 100 by a wide margin.</li>  <li>This has led some to say that the stock is in a bubble, as its price is rising rapidly.</li>  <li>However, Apple's stock price gains are about in line with revenue growth, and actually slower than the most recent quarter's EPS growth.</li>  <li>In this article, I will develop a bullish thesis on Apple, arguing that it has a wide moat that will power future growth and profitability.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e9d29c6db997dd98e087415e7e2acfe\" tg-width=\"1536\" tg-height=\"1036\" referrerpolicy=\"no-referrer\"><span>Justin Sullivan/Getty Images News</span></p><p><blockquote><ul><li>苹果股价今年已上涨34%，大幅跑赢纳斯达克100指数。</li><li>这导致一些人说该股存在泡沫，因为其价格正在迅速上涨。</li><li>然而，苹果的股价涨幅与收入增长大致一致，实际上慢于最近一个季度的每股收益增长。</li><li>在本文中，我将对苹果提出看涨论点，认为它拥有宽阔的护城河，将推动未来的增长和盈利能力。</li></ul><p class=\"t-img-caption\"><span>贾斯汀·沙利文/盖蒂图片社新闻</span></p></blockquote></p><p> <b>Apple Inc.</b>(AAPL) stock has delivered a solid performance in 2021. Up 35% for the year, it has solidly outperformed both the NASDAQ 100 and the S&amp;P 500. The latest in a long streak of winning years for the company, Apple’s 2021 shows that a stock is never too big to beat the market.</p><p><blockquote><b>苹果公司。</b>(AAPL)股票在2021年表现稳健。该指数今年上涨了35%，表现强劲，优于纳斯达克100指数和标普500。苹果的2021年业绩是该公司长期获胜的最新一年，它表明股票永远不会太大而无法击败市场。</blockquote></p><p> With that said, there’s no shortage of people who think Apple’s winning run is due for a correction. In recent weeks, we’ve seen a deluge of articles claiming that AAPL is overvalued, with titles like:</p><p><blockquote>话虽如此，仍有不少人认为苹果的胜利应该得到修正。最近几周，我们看到大量文章声称AAPL被高估，标题如下：</blockquote></p><p> <ul>  <li><i>“Apple Stock is Now a Bubble.”</i></p><p><blockquote><ul><li><i>“苹果股票现在是泡沫。”</i></li></ul></blockquote></p><p></li>  <li><i>“Why Apple Stock May Be a Bubble That’s Ready to Burst.”</i></p><p><blockquote><li><i>“为什么苹果股票可能是一个即将破裂的泡沫。”</i></li></blockquote></p><p></li>  <li><i>“Sell AAPL? Why This Expert Sees Apple Stock Dipping 12%”</i></p><p><blockquote><li><i>“出售AAPL？为什么这位专家认为苹果股价下跌12%”</i></li></blockquote></p><p></li> </ul> Not all of these articles have been unambiguously bearish. A few mention positives along with negatives. But generally speaking, the sentiment that Apple is a bubble, or at least overvalued, is becoming common. If you look at&nbsp;TipRanks’ sentiment chart, it shows decisively negative sentiment toward Apple stock.</p><p><blockquote>并非所有这些文章都明确悲观。一些人提到了积极的一面和消极的一面。但总体而言，认为苹果是泡沫，或者至少被高估的情绪正在变得普遍。如果你看看TipRanks的情绪图表，就会发现对苹果股票的情绪明显负面。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce8357bc3eaf626336dbf12b2ff1f410\" tg-width=\"485\" tg-height=\"457\" referrerpolicy=\"no-referrer\"><span>Source: TipRanks’ sentiment chart</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TipRanks情绪图</span></p></blockquote></p><p> The bearishness of investor sentiment toward Apple becomes clear when we compare it to the sentiment toward&nbsp;<b>Meta Platforms</b>(FB). Meta, a company that is being sued for antitrust violations and getting attacked in the press daily, has a nearly perfect sentiment score. So there is no special tech curse that guarantees negative sentiment toward individual stocks in the sector. Apple’s sentiment problem is indeed its own problem.</p><p><blockquote>当我们将投资者对苹果的悲观情绪与对<b>元平台</b>（FB）。Meta是一家因违反反垄断法而被起诉并每天受到媒体攻击的公司，其情绪得分几乎完美。因此，没有什么特殊的科技诅咒可以保证对该行业个股的负面情绪。苹果的情绪问题确实是自己的问题。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/68bc8cf3f8fc200c2b7a9c85e69cc9f2\" tg-width=\"488\" tg-height=\"461\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Which begs the question:</p><p><blockquote>这就引出了一个问题：</blockquote></p><p> <i>Why?</i></p><p><blockquote><i>为什么？</i></blockquote></p><p> Apple is a wide-moat stock, one of the few tech companies that controls both hardware and software for most of its users. Many companies have attempted to copy Apple’s strategy of maximizing revenue by integrating hardware and apps, but few have succeeded at it. If you want the IOS or Mac OS experience, you need an iPhone or Mac. And billions of people want those experiences enough to pay top dollar for Apple’s products. Few other tech companies have that advantage –&nbsp;<b>Nintendo</b>(OTCPK:NTDOY) being one exception, if you count gaming as tech.</p><p><blockquote>苹果是一只拥有宽护城河的股票，是少数几家同时控制大多数用户硬件和软件的科技公司之一。许多公司都试图复制苹果通过整合硬件和应用程序来实现收入最大化的策略，但很少有人成功。如果你想要IOS或Mac OS体验，你需要一部iPhone或Mac。数十亿人想要这些体验，足以支付高价购买苹果的产品。很少有其他科技公司拥有这样的优势——<b>任天堂</b>(OTCPK：NTDOY)如果您将游戏视为技术，则是一个例外。</blockquote></p><p> This makes Apple arguably a&nbsp;wide-moat stock. You need Apple hardware to run Apple software, and people like Apple software. This gives Apple a “monopoly” on a certain collection of software experiences. It does not have a monopoly on any particular device category, but it’s the only company that can provide the integrated&nbsp;Apple ecosystem.</p><p><blockquote>这使得苹果可以说是一只拥有宽阔护城河的股票。你需要苹果硬件来运行苹果软件，人们喜欢苹果软件。这使得苹果“垄断”了某一套软件体验。它并不垄断任何特定的设备类别，但它是唯一一家能够提供集成苹果生态系统的公司。</blockquote></p><p> This advantage has paid dividends to Apple shareholders – both figuratively and literally. Apple is the world’s biggest company by market cap and the&nbsp;fourth-biggest by revenue. Its revenue growth rate has slowed in recent years, but certain segments (such as watches and services) are growing faster than ever. It appears, then, that Apple still has the potential for significant profitability and growth. Accordingly, I’ll develop a bullish thesis on Apple in this article, arguing that its solid economic moat provides potential for its stock to appreciate in the future.</p><p><blockquote>这一优势为苹果股东带来了红利——无论是象征性的还是字面上的。按市值计算，苹果是全球最大的公司，按收入计算，它是全球第四大公司。近年来，其收入增长率有所放缓，但某些细分市场（如手表和服务）的增长速度比以往任何时候都快。因此，苹果似乎仍然具有显着盈利和增长的潜力。因此，我将在本文中对苹果提出看涨论点，认为其坚实的经济护城河为其股票未来升值提供了潜力。</blockquote></p><p> <b>Competitive Landscape</b></p><p><blockquote><b>竞争格局</b></blockquote></p><p> One of the most important things to understand about Apple is its competitive position. The company operates in such a wide variety of different markets that it’s hard to pin down its business beyond simply “tech.” Technically, the company’s SIC Code (industry classification) is 7372, denoting “prepackaged software.” However, this doesn’t capture the full extent of Apple’s business activities, as it’s also involved in hardware, semiconductors,payments&nbsp;and entertainment.</p><p><blockquote>了解苹果最重要的一点是它的竞争地位。该公司在如此广泛的不同市场开展业务，以至于很难确定其业务不仅仅是“技术”。从技术上讲，该公司的SIC代码（行业分类）是7372，表示“预打包软件”。然而，这并没有涵盖苹果业务活动的全部范围，因为它还涉及硬件、半导体、支付和娱乐。</blockquote></p><p> Some of Apple’s most noteworthy competitors include:</p><p><blockquote>苹果最值得注意的一些竞争对手包括：</blockquote></p><p> <ul>  <li><b>Samsung</b>(OTC:SSNLF) - smartphones.</p><p><blockquote><ul><li><b>三星</b>（场外交易代码：SSNLF）-智能手机。</li></ul></blockquote></p><p></li>  <li><b>Huawei</b>- smartphones.</p><p><blockquote><li><b>华为</b>-智能手机。</li></blockquote></p><p></li>  <li><b>Alphabet</b>(GOOG) - smartphones, laptops, and software.</p><p><blockquote><li><b>Alphabet</b>(GOOG)-智能手机、笔记本电脑和软件。</li></blockquote></p><p></li>  <li><b>Microsoft</b>(MSFT) - laptops.</p><p><blockquote><li><b>微软</b>（MSFT）-笔记本电脑。</li></blockquote></p><p></li>  <li><b>Dell</b>(NYSE:DELL)- laptops.</p><p><blockquote><li><b>戴尔</b>（纽约证券交易所代码：戴尔）-笔记本电脑。</li></blockquote></p><p></li>  <li><b>Adobe</b>(ADBE) - creative software.</p><p><blockquote><li><b>土坯</b>（ADBE）-创意软件。</li></blockquote></p><p></p><p></li>  <li>And many more.</p><p><blockquote><li>还有更多。</li></blockquote></p><p></li> </ul> A comprehensive list of Apple’s competitors would be impossible to come up with, because the company operates in so many different verticals. In addition to all the names above, Apple is arguably in competition with the big semi companies, as it sells phones and laptops with Apple chips. Apple is one of the most comprehensive tech companies around, with a massive lineup of hardware, software and services, putting it in tacit competition with dozens of companies.</p><p><blockquote>苹果的竞争对手的全面名单是不可能的，因为该公司在许多不同的垂直领域开展业务。除了上述所有名称之外，苹果可以说还在与大型半导体公司竞争，因为它销售采用苹果芯片的手机和笔记本电脑。苹果是最全面的科技公司之一，拥有庞大的硬件、软件和服务阵容，使其与数十家公司展开默契竞争。</blockquote></p><p> How is Apple doing in the industries it competes in? According to&nbsp;Counterpoint Research&nbsp;and Statista, Apple’s market shares include:</p><p><blockquote>苹果在其竞争的行业中表现如何？根据Counterpoint Research和Statista的数据，苹果的市场份额包括：</blockquote></p><p> <ul>  <li>Smartphones: 47% in the US and 14% globally.</p><p><blockquote><ul><li>智能手机：美国占47%，全球占14%。</li></ul></blockquote></p><p></li>  <li>Laptops: 15% in the US and 7.6% globally.</p><p><blockquote><li>笔记本电脑：美国15%，全球7.6%。</li></blockquote></p><p></li>  <li>Smartwatches: over 50% globally.</p><p><blockquote><li>智能手表：全球超过50%。</li></blockquote></p><p></li>  <li>Tablets: 35% globally.</p><p><blockquote><li>平板电脑：全球35%。</li></blockquote></p><p></li> </ul> On the whole, Apple is in first or second place in most of its markets. It’s behind Samsung on smartphone sales but it leads in watches and tablets. This is a pretty good market position. And it could grow over time. Some of Apple’s product categories are still fairly new. The company only just recently broke into smart watches and&nbsp;sales in the category are growing at 50%. Apple has taken heat lately for its slowing growth, but certain products within the company’s lineup are growing faster than ever. This provides potential for strong growth well into the future.</p><p><blockquote>总体而言，苹果在其大部分市场都处于第一或第二的位置。它在智能手机销量方面落后于三星，但在手表和平板电脑方面领先。这是一个相当不错的市场地位。它可能会随着时间的推移而增长。苹果的一些产品类别仍然相当新。该公司最近才涉足智能手表领域，该类别的销售额正以50%的速度增长。苹果最近因增长放缓而受到批评，但该公司产品线中的某些产品增长速度比以往任何时候都快。这为未来的强劲增长提供了潜力。</blockquote></p><p> <b>The M1 Chip and Apple Services</b></p><p><blockquote><b>M1芯片和苹果服务</b></blockquote></p><p> Speaking of future growth, it’s worth exploring two of Apple’s most promising categories:</p><p><blockquote>说到未来的增长，值得探索苹果最有前途的两个类别：</blockquote></p><p> <i>The M1 Chip and Apple Services.</i></p><p><blockquote><i>M1芯片和苹果服务。</i></blockquote></p><p> The M1 Chip (really the M1 family of chips now) is a new chip designed by Apple based on ARM architecture. The base configuration boasts:</p><p><blockquote>M1芯片（现在实际上是M1家族芯片）是苹果基于ARM架构设计的新型芯片。基本配置拥有：</blockquote></p><p> <ul>  <li>An 8-core CPU.</p><p><blockquote><ul><li>一个8核CPU。</li></ul></blockquote></p><p></li>  <li>A 7-core GPU.</p><p><blockquote><li>7核GPU。</li></blockquote></p><p></li>  <li>8 or 16 gigs of RAM (physically built into the chip).</p><p><blockquote><li>8或16 GB内存（物理内置在芯片中）。</li></blockquote></p><p></li>  <li>5nm process.</p><p><blockquote><li>5nm工艺。</li></blockquote></p><p></li>  <li>16 billion transistors.</p><p><blockquote><li>160亿个晶体管。</li></blockquote></p><p></li>  <li>3.2 GHZ max clock rate.</p><p><blockquote><li>3.2 GHZ最大时钟速率。</li></blockquote></p><p></li> </ul> Incredible specs. And on top of that, there are two new models–the M1 Pro and M1 Max–that offer improvements on the base model. It would be tedious to list detailed spec sheets for these higher end models, but one eye-popping stat is the M1 Max’s 57 billion transistors. This competes with the CPUs included in extremely high end gaming PCs. And of course, that makes newer Macs themselves viable as gaming rigs, as countless&nbsp;YouTube reviewers have noted. Apple already has a sizable market share in laptops and desktops, but with the M1 chip family, it now has a shot at capturing the gaming segment as well. Until now, that market segment has proven elusive to Apple. So, there is significant potential for accelerating growth in Apple’s computer lineup.</p><p><blockquote>难以置信的规格。除此之外，还有两款新型号——M1 Pro和M1 Max——对基本型号进行了改进。列出这些高端型号的详细规格表会很乏味，但一个令人瞠目结舌的统计数据是M1 Max的570亿个晶体管。这与极高端游戏PC中包含的CPU竞争。当然，正如无数YouTube评论者指出的那样，这使得较新的MAC电脑本身可以作为游戏装备。苹果在笔记本电脑和台式机领域已经拥有相当大的市场份额，但凭借M1芯片系列，它现在也有机会占领游戏领域。到目前为止，事实证明，这一细分市场对苹果来说是难以捉摸的。因此，苹果电脑产品线的加速增长潜力巨大。</blockquote></p><p> Next up is Apple services. This is a broad category that includes streaming music, movies, books and more. This category is always expanding and could potentially drive more growth after hardware growth slows down. In the most recent quarter, service growth actually&nbsp;lagged product growth, at 25% vs 30% for the latter. However, services are promising because they’re a category that could continue to grow even after hardware products reach their total addressable market. Global smartphone sales have been&nbsp;flat-lining after years of strong growth. In this environment, it would be unrealistic to expect Apple’s hardware sales to grow as fast as they did in the past. But by selling more services to existing customers, Apple can keep growing its total revenue even as hardware sales underwhelm.</p><p><blockquote>接下来是苹果服务。这是一个广泛的类别，包括流媒体音乐、电影、书籍等。这一类别一直在扩大，并可能在硬件增长放缓后推动更多增长。在最近一个季度，服务增长实际上落后于产品增长，为25%，而后者为30%。然而，服务是有前途的，因为即使在硬件产品达到其总目标市场之后，它们也可以继续增长。经过多年的强劲增长，全球智能手机销量一直持平。在这种环境下，期望苹果的硬件销售像过去那样快速增长是不现实的。但通过向现有客户销售更多服务，苹果可以在硬件销售不佳的情况下保持总收入增长。</blockquote></p><p> <b>Financials and Valuation</b></p><p><blockquote><b>财务和估值</b></blockquote></p><p> Now we can turn to Apple’s financials.</p><p><blockquote>现在我们可以转向苹果的财务状况。</blockquote></p><p> Apple’s most recent quarter was a&nbsp;miss on both revenue and earnings; however, the results were strong in absolute terms. In the quarter, Apple delivered:</p><p><blockquote>苹果最近一个季度的收入和盈利均未达到预期；然而，从绝对值来看，结果是强劲的。本季度，苹果交付了：</blockquote></p><p> <ul>  <li>$83 billion in revenue, up 29%.</p><p><blockquote><ul><li>营收830亿美元，增长29%。</li></ul></blockquote></p><p></li>  <li>$27.3 billion in operating income, up 60%.</p><p><blockquote><li>营业收入273亿美元，增长60%。</li></blockquote></p><p></li>  <li>$20.5 billion in net income, up 63%.</p><p><blockquote><li>净利润205亿美元，增长63%。</li></blockquote></p><p></li>  <li>$1.24 in diluted EPS, up 69%.</p><p><blockquote><li>稀释后每股收益为1.24美元，增长69%。</li></blockquote></p><p></li> </ul> The company also reported $104 billion in TTM cash from operations in its fourth quarter report. That was up 28% from the year before.</p><p><blockquote>该公司还在第四季度报告中报告了1040亿美元的TTM运营现金。这比去年增长了28%。</blockquote></p><p> These were pretty solid results. Especially for a mature company. Apple is the biggest company in the world by market cap, yet its revenue and earnings are both up by growth stock levels. And this one quarter wasn’t a fluke. According to&nbsp;Seeking Alpha Quant, Apple’s five-year CAGR growth rates in the metrics listed above are:</p><p><blockquote>这些都是相当可靠的结果。尤其是对于一家成熟的公司来说。按市值计算，苹果是世界上最大的公司，但其收入和盈利均以成长型股票的水平增长。这一个季度并非侥幸。根据Seeking Alpha Quant的数据，苹果上述指标的五年复合年增长率为：</blockquote></p><p> <ul>  <li>Revenue: 11%.</p><p><blockquote><ul><li>收入：11%。</li></ul></blockquote></p><p></li>  <li>Operating income: 12.7%.</p><p><blockquote><li>营业收入：12.7%。</li></blockquote></p><p></li>  <li>Net income: 15.7%.</p><p><blockquote><li>净利润：15.7%。</li></blockquote></p><p></li>  <li>Diluted EPS: 22%.</p><p><blockquote><li>稀释后每股收益：22%。</li></blockquote></p><p></li>  <li>Cash flow: 10.7%.</p><p><blockquote><li>现金流：10.7%。</li></blockquote></p><p></li> </ul> Again very solid for a mature company. It does look like the most recent quarter was better than average, but the long-term metrics are still very good. Which gets to the heart of this article’s thesis:</p><p><blockquote>对于一家成熟的公司来说，这也是非常可靠的。最近一个季度看起来确实好于平均水平，但长期指标仍然非常好。这就抓住了本文论点的核心：</blockquote></p><p></p><p> Apple is definitely not a bubble stock. Its valuation is fairly steep, as it trades at 30 times earnings, 7.7 times sales, and 26 times cash flow. But the company still has plenty of growth potential. Compounded annually, its earnings are growing at 22%, and as the most recent quarter showed, it has room for acceleration. If you factor in both growth and value, you get a&nbsp;PEG ratio of just 0.43&nbsp;for the trailing 12-month period. That’s far from a bubble valuation. In fact, it looks downright cheap.</p><p><blockquote>苹果绝对不是泡沫股。其估值相当高，市盈率为30倍，销售额为7.7倍，现金流为26倍。但该公司仍有很大的增长潜力。按年复合计算，其盈利以22%的速度增长，正如最近一个季度所显示的那样，它还有加速的空间。如果同时考虑增长和价值，过去12个月的PEG比率仅为0.43。这远非泡沫估值。事实上，它看起来非常便宜。</blockquote></p><p> <b>Risks and Challenges</b></p><p><blockquote><b>风险与挑战</b></blockquote></p><p> While Apple is definitely an ultra-profitable company with strong growth and a moderate valuation, its stock is not without its risks. As a major hardware company, it is vulnerable to supply chain issues, and other shocks. Some major risks and challenges to the bullish thesis outlined in this article include:</p><p><blockquote>虽然苹果绝对是一家增长强劲、估值适中的超盈利公司，但其股票并非没有风险。作为一家主要的硬件公司，它很容易受到供应链问题和其他冲击的影响。本文概述的看涨论点面临的一些主要风险和挑战包括：</blockquote></p><p> <ul>  <li><b>Supply chain issues.</b>The world is currently going through a chip shortage, as well as shortages of various other hi-tech parts. These problems are affecting Apple. Just recently, the company&nbsp;slashed iPhone production&nbsp;because of supply chain issues. That right before the crucial Holiday season, no less. These kinds of problems are an ever-present threat for a hardware company like Apple, which depends on a ready supply of raw materials to keep sales flowing.</p><p><blockquote><ul><li><b>供应链问题。</b>世界目前正在经历芯片短缺，以及各种其他高科技部件的短缺。这些问题正在影响苹果。就在最近，由于供应链问题，该公司大幅削减了iPhone产量。就在关键的假期之前。对于像苹果这样的硬件公司来说，这类问题是一个始终存在的威胁，该公司依靠现成的原材料供应来保持销售流动。</li></ul></blockquote></p><p></li>  <li><b>Scale.</b>Mathematically, the bigger something gets, the larger of an increase is needed to drive percentage gains equal to past ones. If you start selling $1,000 widgets and sell one your first year, you double your sales just by selling $2,000 worth the next year. If, however, ten years later, you’re selling $332 billion worth, you need customers to come up with $664 billion in the eleventh year to achieve the same growth. This is mathematically unlikely. And as it just so happens, Apple’s $83 billion Q4 revenue annualizes to $332 billion. So growth will be harder to achieve going forward.</p><p><blockquote><li><b>比例。</b>从数学上讲，某物变得越大，需要的增幅就越大，才能推动与过去持平的百分比增长。如果你开始销售1000美元的小工具，第一年就卖出了一个，那么第二年只要卖出价值2000美元的小工具，你的销售额就会翻倍。然而，如果十年后，你的销售额为3320亿美元，你需要客户在第十一年拿出6640亿美元来实现同样的增长。这在数学上是不太可能的。碰巧的是，苹果第四季度830亿美元的年收入达到了3320亿美元。因此，未来将更难实现增长。</li></blockquote></p><p></li>  <li><b>Disruption.</b>Apple’s business model requires that it stay on the leading edge of tech innovation. If another company comes out with something decisively superior to the iPhone, that could kill Apple’s business overnight. Apple itself&nbsp;did this once, to&nbsp;<b>BlackBerry</b>(BB), makers of the ill-fated BlackBerry Smartphone. The history of the tech industry is littered with companies eating each other's lunch, and while Apple has billions to spend on R&amp;D, you never know where the next threat will come from.</p><p><blockquote><li><b>中断。</b>苹果的商业模式要求它保持在技术创新的前沿。如果另一家公司推出了明显优于iPhone的产品，这可能会在一夜之间扼杀苹果的业务。苹果自己也做过一次，为了<b>黑莓</b>（BB），命运多舛的黑莓智能手机制造商。科技行业的历史上充斥着公司互相吃午餐的情况，尽管苹果在研发上投入了数十亿美元，但你永远不知道下一个威胁会来自哪里。</li></blockquote></p><p></li> </ul> The above are some very real risks for investors to keep in mind. The supply chain risk, in particular, is very real, having been cited as a problem in several quarterly reports. With that said, Apple stock has an incredible moat, decent growth, and a not-unreasonable valuation. This is definitely not a stock to short. And while the gains realized by longs will not be as good in the future as they were in the past, they should still be decent.</p><p><blockquote>以上是投资者需要牢记的一些非常真实的风险。尤其是供应链风险是非常真实的，在几份季度报告中都被认为是一个问题。话虽如此，苹果股票拥有令人难以置信的护城河、良好的增长和并非不合理的估值。这绝对不是一只值得做空的股票。虽然多头实现的收益在未来不会像过去那么好，但它们应该仍然不错。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Are there any bubbles in Apple stock?<blockquote>苹果股票有泡沫吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAre there any bubbles in Apple stock?<blockquote>苹果股票有泡沫吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-23 11:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Apple stock has risen 34% this year, beating the NASDAQ 100 by a wide margin.</li>  <li>This has led some to say that the stock is in a bubble, as its price is rising rapidly.</li>  <li>However, Apple's stock price gains are about in line with revenue growth, and actually slower than the most recent quarter's EPS growth.</li>  <li>In this article, I will develop a bullish thesis on Apple, arguing that it has a wide moat that will power future growth and profitability.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e9d29c6db997dd98e087415e7e2acfe\" tg-width=\"1536\" tg-height=\"1036\" referrerpolicy=\"no-referrer\"><span>Justin Sullivan/Getty Images News</span></p><p><blockquote><ul><li>苹果股价今年已上涨34%，大幅跑赢纳斯达克100指数。</li><li>这导致一些人说该股存在泡沫，因为其价格正在迅速上涨。</li><li>然而，苹果的股价涨幅与收入增长大致一致，实际上慢于最近一个季度的每股收益增长。</li><li>在本文中，我将对苹果提出看涨论点，认为它拥有宽阔的护城河，将推动未来的增长和盈利能力。</li></ul><p class=\"t-img-caption\"><span>贾斯汀·沙利文/盖蒂图片社新闻</span></p></blockquote></p><p> <b>Apple Inc.</b>(AAPL) stock has delivered a solid performance in 2021. Up 35% for the year, it has solidly outperformed both the NASDAQ 100 and the S&amp;P 500. The latest in a long streak of winning years for the company, Apple’s 2021 shows that a stock is never too big to beat the market.</p><p><blockquote><b>苹果公司。</b>(AAPL)股票在2021年表现稳健。该指数今年上涨了35%，表现强劲，优于纳斯达克100指数和标普500。苹果的2021年业绩是该公司长期获胜的最新一年，它表明股票永远不会太大而无法击败市场。</blockquote></p><p> With that said, there’s no shortage of people who think Apple’s winning run is due for a correction. In recent weeks, we’ve seen a deluge of articles claiming that AAPL is overvalued, with titles like:</p><p><blockquote>话虽如此，仍有不少人认为苹果的胜利应该得到修正。最近几周，我们看到大量文章声称AAPL被高估，标题如下：</blockquote></p><p> <ul>  <li><i>“Apple Stock is Now a Bubble.”</i></p><p><blockquote><ul><li><i>“苹果股票现在是泡沫。”</i></li></ul></blockquote></p><p></li>  <li><i>“Why Apple Stock May Be a Bubble That’s Ready to Burst.”</i></p><p><blockquote><li><i>“为什么苹果股票可能是一个即将破裂的泡沫。”</i></li></blockquote></p><p></li>  <li><i>“Sell AAPL? Why This Expert Sees Apple Stock Dipping 12%”</i></p><p><blockquote><li><i>“出售AAPL？为什么这位专家认为苹果股价下跌12%”</i></li></blockquote></p><p></li> </ul> Not all of these articles have been unambiguously bearish. A few mention positives along with negatives. But generally speaking, the sentiment that Apple is a bubble, or at least overvalued, is becoming common. If you look at&nbsp;TipRanks’ sentiment chart, it shows decisively negative sentiment toward Apple stock.</p><p><blockquote>并非所有这些文章都明确悲观。一些人提到了积极的一面和消极的一面。但总体而言，认为苹果是泡沫，或者至少被高估的情绪正在变得普遍。如果你看看TipRanks的情绪图表，就会发现对苹果股票的情绪明显负面。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce8357bc3eaf626336dbf12b2ff1f410\" tg-width=\"485\" tg-height=\"457\" referrerpolicy=\"no-referrer\"><span>Source: TipRanks’ sentiment chart</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TipRanks情绪图</span></p></blockquote></p><p> The bearishness of investor sentiment toward Apple becomes clear when we compare it to the sentiment toward&nbsp;<b>Meta Platforms</b>(FB). Meta, a company that is being sued for antitrust violations and getting attacked in the press daily, has a nearly perfect sentiment score. So there is no special tech curse that guarantees negative sentiment toward individual stocks in the sector. Apple’s sentiment problem is indeed its own problem.</p><p><blockquote>当我们将投资者对苹果的悲观情绪与对<b>元平台</b>（FB）。Meta是一家因违反反垄断法而被起诉并每天受到媒体攻击的公司，其情绪得分几乎完美。因此，没有什么特殊的科技诅咒可以保证对该行业个股的负面情绪。苹果的情绪问题确实是自己的问题。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/68bc8cf3f8fc200c2b7a9c85e69cc9f2\" tg-width=\"488\" tg-height=\"461\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Which begs the question:</p><p><blockquote>这就引出了一个问题：</blockquote></p><p> <i>Why?</i></p><p><blockquote><i>为什么？</i></blockquote></p><p> Apple is a wide-moat stock, one of the few tech companies that controls both hardware and software for most of its users. Many companies have attempted to copy Apple’s strategy of maximizing revenue by integrating hardware and apps, but few have succeeded at it. If you want the IOS or Mac OS experience, you need an iPhone or Mac. And billions of people want those experiences enough to pay top dollar for Apple’s products. Few other tech companies have that advantage –&nbsp;<b>Nintendo</b>(OTCPK:NTDOY) being one exception, if you count gaming as tech.</p><p><blockquote>苹果是一只拥有宽护城河的股票，是少数几家同时控制大多数用户硬件和软件的科技公司之一。许多公司都试图复制苹果通过整合硬件和应用程序来实现收入最大化的策略，但很少有人成功。如果你想要IOS或Mac OS体验，你需要一部iPhone或Mac。数十亿人想要这些体验，足以支付高价购买苹果的产品。很少有其他科技公司拥有这样的优势——<b>任天堂</b>(OTCPK：NTDOY)如果您将游戏视为技术，则是一个例外。</blockquote></p><p> This makes Apple arguably a&nbsp;wide-moat stock. You need Apple hardware to run Apple software, and people like Apple software. This gives Apple a “monopoly” on a certain collection of software experiences. It does not have a monopoly on any particular device category, but it’s the only company that can provide the integrated&nbsp;Apple ecosystem.</p><p><blockquote>这使得苹果可以说是一只拥有宽阔护城河的股票。你需要苹果硬件来运行苹果软件，人们喜欢苹果软件。这使得苹果“垄断”了某一套软件体验。它并不垄断任何特定的设备类别，但它是唯一一家能够提供集成苹果生态系统的公司。</blockquote></p><p> This advantage has paid dividends to Apple shareholders – both figuratively and literally. Apple is the world’s biggest company by market cap and the&nbsp;fourth-biggest by revenue. Its revenue growth rate has slowed in recent years, but certain segments (such as watches and services) are growing faster than ever. It appears, then, that Apple still has the potential for significant profitability and growth. Accordingly, I’ll develop a bullish thesis on Apple in this article, arguing that its solid economic moat provides potential for its stock to appreciate in the future.</p><p><blockquote>这一优势为苹果股东带来了红利——无论是象征性的还是字面上的。按市值计算，苹果是全球最大的公司，按收入计算，它是全球第四大公司。近年来，其收入增长率有所放缓，但某些细分市场（如手表和服务）的增长速度比以往任何时候都快。因此，苹果似乎仍然具有显着盈利和增长的潜力。因此，我将在本文中对苹果提出看涨论点，认为其坚实的经济护城河为其股票未来升值提供了潜力。</blockquote></p><p> <b>Competitive Landscape</b></p><p><blockquote><b>竞争格局</b></blockquote></p><p> One of the most important things to understand about Apple is its competitive position. The company operates in such a wide variety of different markets that it’s hard to pin down its business beyond simply “tech.” Technically, the company’s SIC Code (industry classification) is 7372, denoting “prepackaged software.” However, this doesn’t capture the full extent of Apple’s business activities, as it’s also involved in hardware, semiconductors,payments&nbsp;and entertainment.</p><p><blockquote>了解苹果最重要的一点是它的竞争地位。该公司在如此广泛的不同市场开展业务，以至于很难确定其业务不仅仅是“技术”。从技术上讲，该公司的SIC代码（行业分类）是7372，表示“预打包软件”。然而，这并没有涵盖苹果业务活动的全部范围，因为它还涉及硬件、半导体、支付和娱乐。</blockquote></p><p> Some of Apple’s most noteworthy competitors include:</p><p><blockquote>苹果最值得注意的一些竞争对手包括：</blockquote></p><p> <ul>  <li><b>Samsung</b>(OTC:SSNLF) - smartphones.</p><p><blockquote><ul><li><b>三星</b>（场外交易代码：SSNLF）-智能手机。</li></ul></blockquote></p><p></li>  <li><b>Huawei</b>- smartphones.</p><p><blockquote><li><b>华为</b>-智能手机。</li></blockquote></p><p></li>  <li><b>Alphabet</b>(GOOG) - smartphones, laptops, and software.</p><p><blockquote><li><b>Alphabet</b>(GOOG)-智能手机、笔记本电脑和软件。</li></blockquote></p><p></li>  <li><b>Microsoft</b>(MSFT) - laptops.</p><p><blockquote><li><b>微软</b>（MSFT）-笔记本电脑。</li></blockquote></p><p></li>  <li><b>Dell</b>(NYSE:DELL)- laptops.</p><p><blockquote><li><b>戴尔</b>（纽约证券交易所代码：戴尔）-笔记本电脑。</li></blockquote></p><p></li>  <li><b>Adobe</b>(ADBE) - creative software.</p><p><blockquote><li><b>土坯</b>（ADBE）-创意软件。</li></blockquote></p><p></p><p></li>  <li>And many more.</p><p><blockquote><li>还有更多。</li></blockquote></p><p></li> </ul> A comprehensive list of Apple’s competitors would be impossible to come up with, because the company operates in so many different verticals. In addition to all the names above, Apple is arguably in competition with the big semi companies, as it sells phones and laptops with Apple chips. Apple is one of the most comprehensive tech companies around, with a massive lineup of hardware, software and services, putting it in tacit competition with dozens of companies.</p><p><blockquote>苹果的竞争对手的全面名单是不可能的，因为该公司在许多不同的垂直领域开展业务。除了上述所有名称之外，苹果可以说还在与大型半导体公司竞争，因为它销售采用苹果芯片的手机和笔记本电脑。苹果是最全面的科技公司之一，拥有庞大的硬件、软件和服务阵容，使其与数十家公司展开默契竞争。</blockquote></p><p> How is Apple doing in the industries it competes in? According to&nbsp;Counterpoint Research&nbsp;and Statista, Apple’s market shares include:</p><p><blockquote>苹果在其竞争的行业中表现如何？根据Counterpoint Research和Statista的数据，苹果的市场份额包括：</blockquote></p><p> <ul>  <li>Smartphones: 47% in the US and 14% globally.</p><p><blockquote><ul><li>智能手机：美国占47%，全球占14%。</li></ul></blockquote></p><p></li>  <li>Laptops: 15% in the US and 7.6% globally.</p><p><blockquote><li>笔记本电脑：美国15%，全球7.6%。</li></blockquote></p><p></li>  <li>Smartwatches: over 50% globally.</p><p><blockquote><li>智能手表：全球超过50%。</li></blockquote></p><p></li>  <li>Tablets: 35% globally.</p><p><blockquote><li>平板电脑：全球35%。</li></blockquote></p><p></li> </ul> On the whole, Apple is in first or second place in most of its markets. It’s behind Samsung on smartphone sales but it leads in watches and tablets. This is a pretty good market position. And it could grow over time. Some of Apple’s product categories are still fairly new. The company only just recently broke into smart watches and&nbsp;sales in the category are growing at 50%. Apple has taken heat lately for its slowing growth, but certain products within the company’s lineup are growing faster than ever. This provides potential for strong growth well into the future.</p><p><blockquote>总体而言，苹果在其大部分市场都处于第一或第二的位置。它在智能手机销量方面落后于三星，但在手表和平板电脑方面领先。这是一个相当不错的市场地位。它可能会随着时间的推移而增长。苹果的一些产品类别仍然相当新。该公司最近才涉足智能手表领域，该类别的销售额正以50%的速度增长。苹果最近因增长放缓而受到批评，但该公司产品线中的某些产品增长速度比以往任何时候都快。这为未来的强劲增长提供了潜力。</blockquote></p><p> <b>The M1 Chip and Apple Services</b></p><p><blockquote><b>M1芯片和苹果服务</b></blockquote></p><p> Speaking of future growth, it’s worth exploring two of Apple’s most promising categories:</p><p><blockquote>说到未来的增长，值得探索苹果最有前途的两个类别：</blockquote></p><p> <i>The M1 Chip and Apple Services.</i></p><p><blockquote><i>M1芯片和苹果服务。</i></blockquote></p><p> The M1 Chip (really the M1 family of chips now) is a new chip designed by Apple based on ARM architecture. The base configuration boasts:</p><p><blockquote>M1芯片（现在实际上是M1家族芯片）是苹果基于ARM架构设计的新型芯片。基本配置拥有：</blockquote></p><p> <ul>  <li>An 8-core CPU.</p><p><blockquote><ul><li>一个8核CPU。</li></ul></blockquote></p><p></li>  <li>A 7-core GPU.</p><p><blockquote><li>7核GPU。</li></blockquote></p><p></li>  <li>8 or 16 gigs of RAM (physically built into the chip).</p><p><blockquote><li>8或16 GB内存（物理内置在芯片中）。</li></blockquote></p><p></li>  <li>5nm process.</p><p><blockquote><li>5nm工艺。</li></blockquote></p><p></li>  <li>16 billion transistors.</p><p><blockquote><li>160亿个晶体管。</li></blockquote></p><p></li>  <li>3.2 GHZ max clock rate.</p><p><blockquote><li>3.2 GHZ最大时钟速率。</li></blockquote></p><p></li> </ul> Incredible specs. And on top of that, there are two new models–the M1 Pro and M1 Max–that offer improvements on the base model. It would be tedious to list detailed spec sheets for these higher end models, but one eye-popping stat is the M1 Max’s 57 billion transistors. This competes with the CPUs included in extremely high end gaming PCs. And of course, that makes newer Macs themselves viable as gaming rigs, as countless&nbsp;YouTube reviewers have noted. Apple already has a sizable market share in laptops and desktops, but with the M1 chip family, it now has a shot at capturing the gaming segment as well. Until now, that market segment has proven elusive to Apple. So, there is significant potential for accelerating growth in Apple’s computer lineup.</p><p><blockquote>难以置信的规格。除此之外，还有两款新型号——M1 Pro和M1 Max——对基本型号进行了改进。列出这些高端型号的详细规格表会很乏味，但一个令人瞠目结舌的统计数据是M1 Max的570亿个晶体管。这与极高端游戏PC中包含的CPU竞争。当然，正如无数YouTube评论者指出的那样，这使得较新的MAC电脑本身可以作为游戏装备。苹果在笔记本电脑和台式机领域已经拥有相当大的市场份额，但凭借M1芯片系列，它现在也有机会占领游戏领域。到目前为止，事实证明，这一细分市场对苹果来说是难以捉摸的。因此，苹果电脑产品线的加速增长潜力巨大。</blockquote></p><p> Next up is Apple services. This is a broad category that includes streaming music, movies, books and more. This category is always expanding and could potentially drive more growth after hardware growth slows down. In the most recent quarter, service growth actually&nbsp;lagged product growth, at 25% vs 30% for the latter. However, services are promising because they’re a category that could continue to grow even after hardware products reach their total addressable market. Global smartphone sales have been&nbsp;flat-lining after years of strong growth. In this environment, it would be unrealistic to expect Apple’s hardware sales to grow as fast as they did in the past. But by selling more services to existing customers, Apple can keep growing its total revenue even as hardware sales underwhelm.</p><p><blockquote>接下来是苹果服务。这是一个广泛的类别，包括流媒体音乐、电影、书籍等。这一类别一直在扩大，并可能在硬件增长放缓后推动更多增长。在最近一个季度，服务增长实际上落后于产品增长，为25%，而后者为30%。然而，服务是有前途的，因为即使在硬件产品达到其总目标市场之后，它们也可以继续增长。经过多年的强劲增长，全球智能手机销量一直持平。在这种环境下，期望苹果的硬件销售像过去那样快速增长是不现实的。但通过向现有客户销售更多服务，苹果可以在硬件销售不佳的情况下保持总收入增长。</blockquote></p><p> <b>Financials and Valuation</b></p><p><blockquote><b>财务和估值</b></blockquote></p><p> Now we can turn to Apple’s financials.</p><p><blockquote>现在我们可以转向苹果的财务状况。</blockquote></p><p> Apple’s most recent quarter was a&nbsp;miss on both revenue and earnings; however, the results were strong in absolute terms. In the quarter, Apple delivered:</p><p><blockquote>苹果最近一个季度的收入和盈利均未达到预期；然而，从绝对值来看，结果是强劲的。本季度，苹果交付了：</blockquote></p><p> <ul>  <li>$83 billion in revenue, up 29%.</p><p><blockquote><ul><li>营收830亿美元，增长29%。</li></ul></blockquote></p><p></li>  <li>$27.3 billion in operating income, up 60%.</p><p><blockquote><li>营业收入273亿美元，增长60%。</li></blockquote></p><p></li>  <li>$20.5 billion in net income, up 63%.</p><p><blockquote><li>净利润205亿美元，增长63%。</li></blockquote></p><p></li>  <li>$1.24 in diluted EPS, up 69%.</p><p><blockquote><li>稀释后每股收益为1.24美元，增长69%。</li></blockquote></p><p></li> </ul> The company also reported $104 billion in TTM cash from operations in its fourth quarter report. That was up 28% from the year before.</p><p><blockquote>该公司还在第四季度报告中报告了1040亿美元的TTM运营现金。这比去年增长了28%。</blockquote></p><p> These were pretty solid results. Especially for a mature company. Apple is the biggest company in the world by market cap, yet its revenue and earnings are both up by growth stock levels. And this one quarter wasn’t a fluke. According to&nbsp;Seeking Alpha Quant, Apple’s five-year CAGR growth rates in the metrics listed above are:</p><p><blockquote>这些都是相当可靠的结果。尤其是对于一家成熟的公司来说。按市值计算，苹果是世界上最大的公司，但其收入和盈利均以成长型股票的水平增长。这一个季度并非侥幸。根据Seeking Alpha Quant的数据，苹果上述指标的五年复合年增长率为：</blockquote></p><p> <ul>  <li>Revenue: 11%.</p><p><blockquote><ul><li>收入：11%。</li></ul></blockquote></p><p></li>  <li>Operating income: 12.7%.</p><p><blockquote><li>营业收入：12.7%。</li></blockquote></p><p></li>  <li>Net income: 15.7%.</p><p><blockquote><li>净利润：15.7%。</li></blockquote></p><p></li>  <li>Diluted EPS: 22%.</p><p><blockquote><li>稀释后每股收益：22%。</li></blockquote></p><p></li>  <li>Cash flow: 10.7%.</p><p><blockquote><li>现金流：10.7%。</li></blockquote></p><p></li> </ul> Again very solid for a mature company. It does look like the most recent quarter was better than average, but the long-term metrics are still very good. Which gets to the heart of this article’s thesis:</p><p><blockquote>对于一家成熟的公司来说，这也是非常可靠的。最近一个季度看起来确实好于平均水平，但长期指标仍然非常好。这就抓住了本文论点的核心：</blockquote></p><p></p><p> Apple is definitely not a bubble stock. Its valuation is fairly steep, as it trades at 30 times earnings, 7.7 times sales, and 26 times cash flow. But the company still has plenty of growth potential. Compounded annually, its earnings are growing at 22%, and as the most recent quarter showed, it has room for acceleration. If you factor in both growth and value, you get a&nbsp;PEG ratio of just 0.43&nbsp;for the trailing 12-month period. That’s far from a bubble valuation. In fact, it looks downright cheap.</p><p><blockquote>苹果绝对不是泡沫股。其估值相当高，市盈率为30倍，销售额为7.7倍，现金流为26倍。但该公司仍有很大的增长潜力。按年复合计算，其盈利以22%的速度增长，正如最近一个季度所显示的那样，它还有加速的空间。如果同时考虑增长和价值，过去12个月的PEG比率仅为0.43。这远非泡沫估值。事实上，它看起来非常便宜。</blockquote></p><p> <b>Risks and Challenges</b></p><p><blockquote><b>风险与挑战</b></blockquote></p><p> While Apple is definitely an ultra-profitable company with strong growth and a moderate valuation, its stock is not without its risks. As a major hardware company, it is vulnerable to supply chain issues, and other shocks. Some major risks and challenges to the bullish thesis outlined in this article include:</p><p><blockquote>虽然苹果绝对是一家增长强劲、估值适中的超盈利公司，但其股票并非没有风险。作为一家主要的硬件公司，它很容易受到供应链问题和其他冲击的影响。本文概述的看涨论点面临的一些主要风险和挑战包括：</blockquote></p><p> <ul>  <li><b>Supply chain issues.</b>The world is currently going through a chip shortage, as well as shortages of various other hi-tech parts. These problems are affecting Apple. Just recently, the company&nbsp;slashed iPhone production&nbsp;because of supply chain issues. That right before the crucial Holiday season, no less. These kinds of problems are an ever-present threat for a hardware company like Apple, which depends on a ready supply of raw materials to keep sales flowing.</p><p><blockquote><ul><li><b>供应链问题。</b>世界目前正在经历芯片短缺，以及各种其他高科技部件的短缺。这些问题正在影响苹果。就在最近，由于供应链问题，该公司大幅削减了iPhone产量。就在关键的假期之前。对于像苹果这样的硬件公司来说，这类问题是一个始终存在的威胁，该公司依靠现成的原材料供应来保持销售流动。</li></ul></blockquote></p><p></li>  <li><b>Scale.</b>Mathematically, the bigger something gets, the larger of an increase is needed to drive percentage gains equal to past ones. If you start selling $1,000 widgets and sell one your first year, you double your sales just by selling $2,000 worth the next year. If, however, ten years later, you’re selling $332 billion worth, you need customers to come up with $664 billion in the eleventh year to achieve the same growth. This is mathematically unlikely. And as it just so happens, Apple’s $83 billion Q4 revenue annualizes to $332 billion. So growth will be harder to achieve going forward.</p><p><blockquote><li><b>比例。</b>从数学上讲，某物变得越大，需要的增幅就越大，才能推动与过去持平的百分比增长。如果你开始销售1000美元的小工具，第一年就卖出了一个，那么第二年只要卖出价值2000美元的小工具，你的销售额就会翻倍。然而，如果十年后，你的销售额为3320亿美元，你需要客户在第十一年拿出6640亿美元来实现同样的增长。这在数学上是不太可能的。碰巧的是，苹果第四季度830亿美元的年收入达到了3320亿美元。因此，未来将更难实现增长。</li></blockquote></p><p></li>  <li><b>Disruption.</b>Apple’s business model requires that it stay on the leading edge of tech innovation. If another company comes out with something decisively superior to the iPhone, that could kill Apple’s business overnight. Apple itself&nbsp;did this once, to&nbsp;<b>BlackBerry</b>(BB), makers of the ill-fated BlackBerry Smartphone. The history of the tech industry is littered with companies eating each other's lunch, and while Apple has billions to spend on R&amp;D, you never know where the next threat will come from.</p><p><blockquote><li><b>中断。</b>苹果的商业模式要求它保持在技术创新的前沿。如果另一家公司推出了明显优于iPhone的产品，这可能会在一夜之间扼杀苹果的业务。苹果自己也做过一次，为了<b>黑莓</b>（BB），命运多舛的黑莓智能手机制造商。科技行业的历史上充斥着公司互相吃午餐的情况，尽管苹果在研发上投入了数十亿美元，但你永远不知道下一个威胁会来自哪里。</li></blockquote></p><p></li> </ul> The above are some very real risks for investors to keep in mind. The supply chain risk, in particular, is very real, having been cited as a problem in several quarterly reports. With that said, Apple stock has an incredible moat, decent growth, and a not-unreasonable valuation. This is definitely not a stock to short. And while the gains realized by longs will not be as good in the future as they were in the past, they should still be decent.</p><p><blockquote>以上是投资者需要牢记的一些非常真实的风险。尤其是供应链风险是非常真实的，在几份季度报告中都被认为是一个问题。话虽如此，苹果股票拥有令人难以置信的护城河、良好的增长和并非不合理的估值。这绝对不是一只值得做空的股票。虽然多头实现的收益在未来不会像过去那么好，但它们应该仍然不错。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4476363-apple-stock-no-bubble\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4476363-apple-stock-no-bubble","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164467804","content_text":"Summary\n\nApple stock has risen 34% this year, beating the NASDAQ 100 by a wide margin.\nThis has led some to say that the stock is in a bubble, as its price is rising rapidly.\nHowever, Apple's stock price gains are about in line with revenue growth, and actually slower than the most recent quarter's EPS growth.\nIn this article, I will develop a bullish thesis on Apple, arguing that it has a wide moat that will power future growth and profitability.\n\nJustin Sullivan/Getty Images News\nApple Inc.(AAPL) stock has delivered a solid performance in 2021. Up 35% for the year, it has solidly outperformed both the NASDAQ 100 and the S&P 500. The latest in a long streak of winning years for the company, Apple’s 2021 shows that a stock is never too big to beat the market.\nWith that said, there’s no shortage of people who think Apple’s winning run is due for a correction. In recent weeks, we’ve seen a deluge of articles claiming that AAPL is overvalued, with titles like:\n\n“Apple Stock is Now a Bubble.”\n“Why Apple Stock May Be a Bubble That’s Ready to Burst.”\n“Sell AAPL? Why This Expert Sees Apple Stock Dipping 12%”\n\nNot all of these articles have been unambiguously bearish. A few mention positives along with negatives. But generally speaking, the sentiment that Apple is a bubble, or at least overvalued, is becoming common. If you look at TipRanks’ sentiment chart, it shows decisively negative sentiment toward Apple stock.\nSource: TipRanks’ sentiment chart\nThe bearishness of investor sentiment toward Apple becomes clear when we compare it to the sentiment toward Meta Platforms(FB). Meta, a company that is being sued for antitrust violations and getting attacked in the press daily, has a nearly perfect sentiment score. So there is no special tech curse that guarantees negative sentiment toward individual stocks in the sector. Apple’s sentiment problem is indeed its own problem.\n\nWhich begs the question:\nWhy?\nApple is a wide-moat stock, one of the few tech companies that controls both hardware and software for most of its users. Many companies have attempted to copy Apple’s strategy of maximizing revenue by integrating hardware and apps, but few have succeeded at it. If you want the IOS or Mac OS experience, you need an iPhone or Mac. And billions of people want those experiences enough to pay top dollar for Apple’s products. Few other tech companies have that advantage – Nintendo(OTCPK:NTDOY) being one exception, if you count gaming as tech.\nThis makes Apple arguably a wide-moat stock. You need Apple hardware to run Apple software, and people like Apple software. This gives Apple a “monopoly” on a certain collection of software experiences. It does not have a monopoly on any particular device category, but it’s the only company that can provide the integrated Apple ecosystem.\nThis advantage has paid dividends to Apple shareholders – both figuratively and literally. Apple is the world’s biggest company by market cap and the fourth-biggest by revenue. Its revenue growth rate has slowed in recent years, but certain segments (such as watches and services) are growing faster than ever. It appears, then, that Apple still has the potential for significant profitability and growth. Accordingly, I’ll develop a bullish thesis on Apple in this article, arguing that its solid economic moat provides potential for its stock to appreciate in the future.\nCompetitive Landscape\nOne of the most important things to understand about Apple is its competitive position. The company operates in such a wide variety of different markets that it’s hard to pin down its business beyond simply “tech.” Technically, the company’s SIC Code (industry classification) is 7372, denoting “prepackaged software.” However, this doesn’t capture the full extent of Apple’s business activities, as it’s also involved in hardware, semiconductors,payments and entertainment.\nSome of Apple’s most noteworthy competitors include:\n\nSamsung(OTC:SSNLF) - smartphones.\nHuawei- smartphones.\nAlphabet(GOOG) - smartphones, laptops, and software.\nMicrosoft(MSFT) - laptops.\nDell(NYSE:DELL)- laptops.\nAdobe(ADBE) - creative software.\nAnd many more.\n\nA comprehensive list of Apple’s competitors would be impossible to come up with, because the company operates in so many different verticals. In addition to all the names above, Apple is arguably in competition with the big semi companies, as it sells phones and laptops with Apple chips. Apple is one of the most comprehensive tech companies around, with a massive lineup of hardware, software and services, putting it in tacit competition with dozens of companies.\nHow is Apple doing in the industries it competes in? According to Counterpoint Research and Statista, Apple’s market shares include:\n\nSmartphones: 47% in the US and 14% globally.\nLaptops: 15% in the US and 7.6% globally.\nSmartwatches: over 50% globally.\nTablets: 35% globally.\n\nOn the whole, Apple is in first or second place in most of its markets. It’s behind Samsung on smartphone sales but it leads in watches and tablets. This is a pretty good market position. And it could grow over time. Some of Apple’s product categories are still fairly new. The company only just recently broke into smart watches and sales in the category are growing at 50%. Apple has taken heat lately for its slowing growth, but certain products within the company’s lineup are growing faster than ever. This provides potential for strong growth well into the future.\nThe M1 Chip and Apple Services\nSpeaking of future growth, it’s worth exploring two of Apple’s most promising categories:\nThe M1 Chip and Apple Services.\nThe M1 Chip (really the M1 family of chips now) is a new chip designed by Apple based on ARM architecture. The base configuration boasts:\n\nAn 8-core CPU.\nA 7-core GPU.\n8 or 16 gigs of RAM (physically built into the chip).\n5nm process.\n16 billion transistors.\n3.2 GHZ max clock rate.\n\nIncredible specs. And on top of that, there are two new models–the M1 Pro and M1 Max–that offer improvements on the base model. It would be tedious to list detailed spec sheets for these higher end models, but one eye-popping stat is the M1 Max’s 57 billion transistors. This competes with the CPUs included in extremely high end gaming PCs. And of course, that makes newer Macs themselves viable as gaming rigs, as countless YouTube reviewers have noted. Apple already has a sizable market share in laptops and desktops, but with the M1 chip family, it now has a shot at capturing the gaming segment as well. Until now, that market segment has proven elusive to Apple. So, there is significant potential for accelerating growth in Apple’s computer lineup.\nNext up is Apple services. This is a broad category that includes streaming music, movies, books and more. This category is always expanding and could potentially drive more growth after hardware growth slows down. In the most recent quarter, service growth actually lagged product growth, at 25% vs 30% for the latter. However, services are promising because they’re a category that could continue to grow even after hardware products reach their total addressable market. Global smartphone sales have been flat-lining after years of strong growth. In this environment, it would be unrealistic to expect Apple’s hardware sales to grow as fast as they did in the past. But by selling more services to existing customers, Apple can keep growing its total revenue even as hardware sales underwhelm.\nFinancials and Valuation\nNow we can turn to Apple’s financials.\nApple’s most recent quarter was a miss on both revenue and earnings; however, the results were strong in absolute terms. In the quarter, Apple delivered:\n\n$83 billion in revenue, up 29%.\n$27.3 billion in operating income, up 60%.\n$20.5 billion in net income, up 63%.\n$1.24 in diluted EPS, up 69%.\n\nThe company also reported $104 billion in TTM cash from operations in its fourth quarter report. That was up 28% from the year before.\nThese were pretty solid results. Especially for a mature company. Apple is the biggest company in the world by market cap, yet its revenue and earnings are both up by growth stock levels. And this one quarter wasn’t a fluke. According to Seeking Alpha Quant, Apple’s five-year CAGR growth rates in the metrics listed above are:\n\nRevenue: 11%.\nOperating income: 12.7%.\nNet income: 15.7%.\nDiluted EPS: 22%.\nCash flow: 10.7%.\n\nAgain very solid for a mature company. It does look like the most recent quarter was better than average, but the long-term metrics are still very good. Which gets to the heart of this article’s thesis:\nApple is definitely not a bubble stock. Its valuation is fairly steep, as it trades at 30 times earnings, 7.7 times sales, and 26 times cash flow. But the company still has plenty of growth potential. Compounded annually, its earnings are growing at 22%, and as the most recent quarter showed, it has room for acceleration. If you factor in both growth and value, you get a PEG ratio of just 0.43 for the trailing 12-month period. That’s far from a bubble valuation. In fact, it looks downright cheap.\nRisks and Challenges\nWhile Apple is definitely an ultra-profitable company with strong growth and a moderate valuation, its stock is not without its risks. As a major hardware company, it is vulnerable to supply chain issues, and other shocks. Some major risks and challenges to the bullish thesis outlined in this article include:\n\nSupply chain issues.The world is currently going through a chip shortage, as well as shortages of various other hi-tech parts. These problems are affecting Apple. Just recently, the company slashed iPhone production because of supply chain issues. That right before the crucial Holiday season, no less. These kinds of problems are an ever-present threat for a hardware company like Apple, which depends on a ready supply of raw materials to keep sales flowing.\nScale.Mathematically, the bigger something gets, the larger of an increase is needed to drive percentage gains equal to past ones. If you start selling $1,000 widgets and sell one your first year, you double your sales just by selling $2,000 worth the next year. If, however, ten years later, you’re selling $332 billion worth, you need customers to come up with $664 billion in the eleventh year to achieve the same growth. This is mathematically unlikely. And as it just so happens, Apple’s $83 billion Q4 revenue annualizes to $332 billion. So growth will be harder to achieve going forward.\nDisruption.Apple’s business model requires that it stay on the leading edge of tech innovation. If another company comes out with something decisively superior to the iPhone, that could kill Apple’s business overnight. Apple itself did this once, to BlackBerry(BB), makers of the ill-fated BlackBerry Smartphone. The history of the tech industry is littered with companies eating each other's lunch, and while Apple has billions to spend on R&D, you never know where the next threat will come from.\n\nThe above are some very real risks for investors to keep in mind. The supply chain risk, in particular, is very real, having been cited as a problem in several quarterly reports. With that said, Apple stock has an incredible moat, decent growth, and a not-unreasonable valuation. This is definitely not a stock to short. And while the gains realized by longs will not be as good in the future as they were in the past, they should still be decent.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601860359,"gmtCreate":1638509258630,"gmtModify":1638509326848,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Hope this will take AAPL to innovate by producing other products, and look for the next Star","listText":"Hope this will take AAPL to innovate by producing other products, and look for the next Star","text":"Hope this will take AAPL to innovate by producing other products, and look for the next Star","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601860359","repostId":"1129439866","repostType":4,"repost":{"id":"1129439866","kind":"news","pubTimestamp":1638502156,"share":"https://www.laohu8.com/m/news/1129439866?lang=zh_CN&edition=full","pubTime":"2021-12-03 11:29","market":"us","language":"en","title":"Apple Learns the Hard Way That Fewer People Want Its New iPhones<blockquote>苹果惨痛地认识到，想要其新款iPhone的人越来越少</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129439866","media":"Motley Fool","summary":"An iPhone a year keeps the customers away.\nThat's a stark new lesson for Apple, which reportedly tol","content":"<p>An iPhone a year keeps the customers away.</p><p><blockquote>一年一部iPhone让顾客远离。</blockquote></p><p> That's a stark new lesson for Apple, which reportedly told its suppliers this week that demand for its brand new iPhone 13 is falling in advance of the holidays. With a mix of customer fatigue and economic uncertainty, there's no sign of demand ticking up in the New Year, either.</p><p><blockquote>这对苹果来说是一个严峻的新教训，据报道，该公司本周告诉其供应商，对其全新iPhone 13的需求在假期前正在下降。由于客户疲劳和经济不确定性的综合影响，新的一年需求也没有上升的迹象。</blockquote></p><p> Slumping Demand Still Means Record Profits</p><p><blockquote>需求下滑仍意味着创纪录的利润</blockquote></p><p> Every year, Apple hosts rock concert style events where its new products debut to tech consumer fanfare unlike any other — turning the launch of new phones into a cultural event as much as a business one. But this year's iPhone 13 wasn't exactly world shattering, featuring only some minor upgrades to processing power and camera functions.</p><p><blockquote>每年，苹果都会举办摇滚音乐会风格的活动，其新产品在科技消费者面前大张旗鼓地首次亮相，这与其他任何活动都不同——将新手机的发布变成了一场文化活动，也是一场商业活动。但今年的iPhone 13并没有完全震撼世界，只是在处理能力和相机功能上进行了一些小的升级。</blockquote></p><p> That doesn't appear to have cut it. According to sources who spoke to&nbsp;<i>Bloomberg</i>, the tech giant has begun notifying suppliers that some of their orders may never materialize, months after it already cut production numbers due to supply chain woes:</p><p><blockquote>这似乎并没有解决问题。据接受采访的消息人士透露<i>彭博社</i>这家科技巨头已开始通知供应商，他们的一些订单可能永远不会实现，几个月前，该公司因供应链问题而削减了产量：</blockquote></p><p> <ul>  <li>Before the demand slump, Apple already slashed its 2021 production target for iPhone 13 down 10 million units, down to 90 million total because not enough parts were available.</li>  <li>There's still no need to spare sympathy for Tim Cook and Co: even with demand trending downward, Apple is on pace for a record $117.9 billion in sales in the final three months of 2021, according to Wall Street analysts — they'll have to settle for a less gigantic quarter than expected.</li> </ul> <b>Haters Gonna Hate:</b>&nbsp;Apple shares fell over 3% in early trading Thursday, but one analyst was emphatic that present concerns are a big fat nothing. \"The haters will continue to hate on Apple, but we believe a $3 trillion market cap is in the crystal ball despite these negative white knuckle headlines worrying the Street,\" Wedbush securities managing director Dan Ives told the<i>New York Post</i>.</p><p><blockquote><ul><li>在需求下滑之前，苹果已经将2021年iPhone 13的产量目标削减了1000万部，总产量降至9000万部，原因是没有足够的零部件。</li><li>仍然没有必要对蒂姆·库克和他的同事表示同情：尽管需求呈下降趋势，但据华尔街分析师称，苹果在2021年最后三个月的销售额仍有望达到创纪录的1179亿美元——他们将不得不满足于一个没有预期那么大的季度。</li></ul><b>讨厌的人会讨厌：</b>苹果股价周四早盘下跌超过3%，但一位分析师强调，目前的担忧根本不算什么。Wedbush securities董事总经理Dan Ives对The<i>纽约邮报</i>.</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Learns the Hard Way That Fewer People Want Its New iPhones<blockquote>苹果惨痛地认识到，想要其新款iPhone的人越来越少</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Learns the Hard Way That Fewer People Want Its New iPhones<blockquote>苹果惨痛地认识到，想要其新款iPhone的人越来越少</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-12-03 11:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p>An iPhone a year keeps the customers away.</p><p><blockquote>一年一部iPhone让顾客远离。</blockquote></p><p> That's a stark new lesson for Apple, which reportedly told its suppliers this week that demand for its brand new iPhone 13 is falling in advance of the holidays. With a mix of customer fatigue and economic uncertainty, there's no sign of demand ticking up in the New Year, either.</p><p><blockquote>这对苹果来说是一个严峻的新教训，据报道，该公司本周告诉其供应商，对其全新iPhone 13的需求在假期前正在下降。由于客户疲劳和经济不确定性的综合影响，新的一年需求也没有上升的迹象。</blockquote></p><p> Slumping Demand Still Means Record Profits</p><p><blockquote>需求下滑仍意味着创纪录的利润</blockquote></p><p> Every year, Apple hosts rock concert style events where its new products debut to tech consumer fanfare unlike any other — turning the launch of new phones into a cultural event as much as a business one. But this year's iPhone 13 wasn't exactly world shattering, featuring only some minor upgrades to processing power and camera functions.</p><p><blockquote>每年，苹果都会举办摇滚音乐会风格的活动，其新产品在科技消费者面前大张旗鼓地首次亮相，这与其他任何活动都不同——将新手机的发布变成了一场文化活动，也是一场商业活动。但今年的iPhone 13并没有完全震撼世界，只是在处理能力和相机功能上进行了一些小的升级。</blockquote></p><p> That doesn't appear to have cut it. According to sources who spoke to&nbsp;<i>Bloomberg</i>, the tech giant has begun notifying suppliers that some of their orders may never materialize, months after it already cut production numbers due to supply chain woes:</p><p><blockquote>这似乎并没有解决问题。据接受采访的消息人士透露<i>彭博社</i>这家科技巨头已开始通知供应商，他们的一些订单可能永远不会实现，几个月前，该公司因供应链问题而削减了产量：</blockquote></p><p> <ul>  <li>Before the demand slump, Apple already slashed its 2021 production target for iPhone 13 down 10 million units, down to 90 million total because not enough parts were available.</li>  <li>There's still no need to spare sympathy for Tim Cook and Co: even with demand trending downward, Apple is on pace for a record $117.9 billion in sales in the final three months of 2021, according to Wall Street analysts — they'll have to settle for a less gigantic quarter than expected.</li> </ul> <b>Haters Gonna Hate:</b>&nbsp;Apple shares fell over 3% in early trading Thursday, but one analyst was emphatic that present concerns are a big fat nothing. \"The haters will continue to hate on Apple, but we believe a $3 trillion market cap is in the crystal ball despite these negative white knuckle headlines worrying the Street,\" Wedbush securities managing director Dan Ives told the<i>New York Post</i>.</p><p><blockquote><ul><li>在需求下滑之前，苹果已经将2021年iPhone 13的产量目标削减了1000万部，总产量降至9000万部，原因是没有足够的零部件。</li><li>仍然没有必要对蒂姆·库克和他的同事表示同情：尽管需求呈下降趋势，但据华尔街分析师称，苹果在2021年最后三个月的销售额仍有望达到创纪录的1179亿美元——他们将不得不满足于一个没有预期那么大的季度。</li></ul><b>讨厌的人会讨厌：</b>苹果股价周四早盘下跌超过3%，但一位分析师强调，目前的担忧根本不算什么。Wedbush securities董事总经理Dan Ives对The<i>纽约邮报</i>.</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/12/02/apple-learns-the-hard-way-that-fewer-people-want-i/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.fool.com/investing/2021/12/02/apple-learns-the-hard-way-that-fewer-people-want-i/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129439866","content_text":"An iPhone a year keeps the customers away.\nThat's a stark new lesson for Apple, which reportedly told its suppliers this week that demand for its brand new iPhone 13 is falling in advance of the holidays. With a mix of customer fatigue and economic uncertainty, there's no sign of demand ticking up in the New Year, either.\nSlumping Demand Still Means Record Profits\nEvery year, Apple hosts rock concert style events where its new products debut to tech consumer fanfare unlike any other — turning the launch of new phones into a cultural event as much as a business one. But this year's iPhone 13 wasn't exactly world shattering, featuring only some minor upgrades to processing power and camera functions.\nThat doesn't appear to have cut it. According to sources who spoke to Bloomberg, the tech giant has begun notifying suppliers that some of their orders may never materialize, months after it already cut production numbers due to supply chain woes:\n\nBefore the demand slump, Apple already slashed its 2021 production target for iPhone 13 down 10 million units, down to 90 million total because not enough parts were available.\nThere's still no need to spare sympathy for Tim Cook and Co: even with demand trending downward, Apple is on pace for a record $117.9 billion in sales in the final three months of 2021, according to Wall Street analysts — they'll have to settle for a less gigantic quarter than expected.\n\nHaters Gonna Hate: Apple shares fell over 3% in early trading Thursday, but one analyst was emphatic that present concerns are a big fat nothing. \"The haters will continue to hate on Apple, but we believe a $3 trillion market cap is in the crystal ball despite these negative white knuckle headlines worrying the Street,\" Wedbush securities managing director Dan Ives told theNew York Post.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2385,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601053315,"gmtCreate":1638461477804,"gmtModify":1638461478018,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"It's about time... these are good companies operating in a robust market.","listText":"It's about time... these are good companies operating in a robust market.","text":"It's about time... these are good companies operating in a robust market.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601053315","repostId":"1143852477","repostType":4,"repost":{"id":"1143852477","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":1638456313,"share":"https://www.laohu8.com/m/news/1143852477?lang=zh_CN&edition=full","pubTime":"2021-12-02 22:45","market":"us","language":"en","title":"Hot chinese concept stocks climbed in morning trading<blockquote>热门中概股早盘攀升</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143852477","media":"Tiger Newspress","summary":"Hot chinese concept stocks climbed in morning trading.Alibaba,JD.com,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global&nbsp;and&nbsp;KE&nbsp;Holdings&nbsp;climbed between 1% and 8%.","content":"<p>Hot chinese concept stocks climbed in morning trading.Alibaba,JD.com,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global&nbsp;and&nbsp;KE&nbsp;Holdings&nbsp;climbed between 1% and 8%.</p><p><blockquote>热门中概股早盘上涨，阿里巴巴、京东、百度、网易、蔚来、小鹏汽车、理想汽车、滴滴出行、贝壳控股涨幅在1%至8%之间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/20f41ee0d0d5f8f298835830cf61c346\" tg-width=\"403\" tg-height=\"537\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hot chinese concept stocks climbed in morning trading<blockquote>热门中概股早盘攀升</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHot chinese concept stocks climbed in morning trading<blockquote>热门中概股早盘攀升</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-02 22:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Hot chinese concept stocks climbed in morning trading.Alibaba,JD.com,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global&nbsp;and&nbsp;KE&nbsp;Holdings&nbsp;climbed between 1% and 8%.</p><p><blockquote>热门中概股早盘上涨，阿里巴巴、京东、百度、网易、蔚来、小鹏汽车、理想汽车、滴滴出行、贝壳控股涨幅在1%至8%之间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/20f41ee0d0d5f8f298835830cf61c346\" tg-width=\"403\" tg-height=\"537\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","DIDI":"滴滴(已退市)","LI":"理想汽车","BEKE":"贝壳","NIO":"蔚来","BIDU":"百度","NTES":"网易","XPEV":"小鹏汽车","JD":"京东"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143852477","content_text":"Hot chinese concept stocks climbed in morning trading.Alibaba,JD.com,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global and KE Holdings climbed between 1% and 8%.","news_type":1,"symbols_score_info":{"BEKE":0.9,"DIDI":0.9,"LI":0.9,"NIO":0.9,"XPEV":0.9,"BABA":0.9,"BIDU":0.9,"NTES":0.9,"JD":0.9}},"isVote":1,"tweetType":1,"viewCount":2505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":609269652,"gmtCreate":1638286411588,"gmtModify":1638286411758,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"I always thought the telco business won't grow much... it's about content and services now...","listText":"I always thought the telco business won't grow much... it's about content and services now...","text":"I always thought the telco business won't grow much... it's about content and services now...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/609269652","repostId":"2187817235","repostType":4,"isVote":1,"tweetType":1,"viewCount":5568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600013442,"gmtCreate":1638004626709,"gmtModify":1638004626889,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Stay the course if you believe in the company you've invested in.","listText":"Stay the course if you believe in the company you've invested in.","text":"Stay the course if you believe in the company you've invested in.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/600013442","repostId":"2186344334","repostType":4,"isVote":1,"tweetType":1,"viewCount":2770,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877614543,"gmtCreate":1637923894140,"gmtModify":1637924539693,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Stay the&nbsp;course... there'll be ups and downs...&nbsp;","listText":"Stay the&nbsp;course... there'll be ups and downs...&nbsp;","text":"Stay the course... there'll be ups and downs...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877614543","repostId":"1108962994","repostType":4,"repost":{"id":"1108962994","kind":"news","pubTimestamp":1637912343,"share":"https://www.laohu8.com/m/news/1108962994?lang=zh_CN&edition=full","pubTime":"2021-11-26 15:39","market":"us","language":"en","title":"Has Cathie Wood Lost Her Touch?<blockquote>凯西·伍德失去联系了吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1108962994","media":"Motley Fool","summary":"As stock markets have stayed near record levels, the star asset manager's ARK Invest funds have struggled.","content":"<p>Stocks were mostly higher heading into the Thanksgiving holiday, as investors were able to overcome some early nervousness to claw back ground from losses at the beginning of the session. The&nbsp;<b>Dow Jones Industrial Average</b>&nbsp;still fell slightly on the day, but both the&nbsp;<b>S&amp;P 500</b>&nbsp;and&nbsp;<b>Nasdaq Composite</b>&nbsp;managed to post modest gains.</p><p><blockquote>感恩节假期前，股市大多走高，因为投资者能够克服早期的紧张情绪，从盘初的跌幅中收复失地。The<b>道琼斯工业平均指数</b>日仍小幅下跌，但两<b>标普500</b>和<b>纳斯达克复合材料</b>设法取得了适度的收益。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fd61fee96cd981d55bc6c0a4a541d9b\" tg-width=\"1149\" tg-height=\"331\" width=\"100%\" height=\"auto\"><span>DATA SOURCE: YAHOO! FINANCE.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：雅虎！金融。</span></p></blockquote></p><p> The day's moves continued the overall strong performance from the stock market in 2021. Yet even though major indexes are up substantially so far this year, Cathie Wood hasn't been as fortunate. Her ARK Invest&nbsp;exchange-traded funds&nbsp;haven't matched the market's performance in 2021, and some wonder if the revered manager has lost her touch. We'll look more closely at that question below.</p><p><blockquote>当天的走势延续了2021年股市的整体强劲表现。然而，尽管今年迄今为止主要股指大幅上涨，凯西·伍德却没那么幸运。她的ARK Invest交易所交易基金未能与2021年的市场表现相匹配，一些人怀疑这位受人尊敬的经理是否已经失去了影响力。我们将在下面更仔细地研究这个问题。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/690a1e671906b4e173308a05c1d903f0\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>A down year for ARK Innovation</b></p><p><blockquote><b>方舟创新低迷的一年</b></blockquote></p><p> It's been a tough year to be a&nbsp;Cathie Wood investor. For the most part, many of the high-growth stocks that played prominent roles in the&nbsp;<b>ARK Innovation ETF</b>(NYSEMKT:ARKK)&nbsp;and other Wood-led ETFs topped out early in the year. That's left investors slowly but steadily losing ground throughout much of 2021, with ARK Innovation falling about 15% year to date.</p><p><blockquote>对于凯西·伍德投资者来说，这是艰难的一年。在很大程度上，许多在经济增长中发挥突出作用的高增长股票<b>方舟创新ETF</b>（NYSEMKT：ARKK）和其他木材主导的ETF在今年年初见顶。这使得投资者在2021年的大部分时间里缓慢但稳步地下跌，ARK Innovation今年迄今下跌了约15%。</blockquote></p><p> However, a closer look at the stocks involved shows that Wood's performance has been much more mixed. Stocks like&nbsp;<b>Tesla</b>&nbsp;and&nbsp;<b>Shopify</b>&nbsp;have continued to gain ground for ARK Innovation, helping to offset losses elsewhere. Yet poor performance from telehealth pioneer&nbsp;<b>Teladoc Health</b>&nbsp;and&nbsp;<b>Zoom Video Communications</b>&nbsp;has weighed on total returns, and pullbacks in other stocks that were high-flyers earlier in the year haven't helped.</p><p><blockquote>然而，仔细观察所涉及的股票就会发现，伍德的表现好坏参半。股票喜欢<b>特斯拉</b>和<b>Shopify</b>方舟创新继续取得进展，帮助抵消了其他地方的损失。然而远程医疗先驱表现不佳<b>Teladoc健康</b>和<b>Zoom Video通信公司</b>拖累了总回报，而今年早些时候其他表现强劲的股票的回调也无济于事。</blockquote></p><p> <b>Mixed performance elsewhere</b></p><p><blockquote><b>其他地方表现好坏参半</b></blockquote></p><p> Moreover, Wood's other funds show a much more varied track record. The biggest losses have come for the&nbsp;<b>ARK Genomic Revolution ETF</b>(NYSEMKT:ARKG), which is down more than 30% for the year as four of its top five holdings have fallen from year-ago levels.</p><p><blockquote>此外，伍德的其他基金表现出更加多样化的业绩记录。最大的损失已经到来<b>方舟基因组革命ETF</b>(NYSEMKT：ARKG)今年以来股价下跌超过30%，其前五大持股中有四只较去年同期水平下跌。</blockquote></p><p> Conversely, declines for ARK Invest's ETFs in the fintech and next-generation internet field are down just a few percent for the year. And the autonomous technology and robotics fund has actually gained ground, albeit trailing the broader market's return year to date.</p><p><blockquote>相反，ARK Invest在金融科技和下一代互联网领域的ETF今年的跌幅仅为百分之几。自主技术和机器人基金实际上已经取得了进展，尽管今年迄今为止的回报率落后于大盘。</blockquote></p><p> <b>Don't count Cathie Wood out</b></p><p><blockquote><b>不要把凯西·伍德排除在外</b></blockquote></p><p> The anti-Wood sentiment has gotten so prominent that a new exchange-traded fund has come out that runs explicitly counter to her strategy.<b>Tuttle Capital Short Innovation ETF</b>&nbsp;just came out in early November, with the express goal of shorting the stocks that Wood owns in ARK Innovation.</p><p><blockquote>反伍德情绪变得如此突出，以至于一只新的交易所交易基金已经问世，这显然与她的策略背道而驰。<b>塔特尔资本空头创新ETF</b>11月初刚刚出来，明确目标是做空Wood持有的ARK Innovation股票。</blockquote></p><p> Yet Wood is ready to double down on her picks. Indeed, a recent suggestion from the ARK Invest leader&nbsp; would combine her pro-innovation strategy with short-selling of major stocks in benchmarks like the S&amp;P 500. That could boost returns, albeit at the price of even higher potential volatility in performance. Even Wood acknowledges the risks, having referred to the strategy in an interview on CNBC as \"ARK on steroids.\"</p><p><blockquote>然而，伍德准备在她的选择上加倍努力。事实上，方舟投资领袖最近提出的一项建议是将她的支持创新策略与卖空标普500等基准中的主要股票结合起来。这可能会提高回报，尽管代价是业绩的潜在波动性更大。就连伍德也承认存在风险，他在接受CNBC采访时将这一策略称为“服用类固醇的方舟”。</blockquote></p><p> Most importantly, focusing on 2021's performance unfairly leaves out Wood's amazing gains in 2020, which have led to three-year returns on ARK funds ranging from 134% to 195%. A return to that pace of growth might take a while, but Wood seems optimistic that her stock picks have the potential to generate strong gains for shareholders with the patience and discipline to stick with them.</p><p><blockquote>最重要的是，关注2021年的业绩不公平地忽略了伍德在2020年的惊人收益，这导致ARK基金的三年回报率在134%至195%之间。恢复这种增长速度可能需要一段时间，但伍德似乎很乐观，她选择的股票有可能为有耐心和纪律坚持下去的股东带来强劲收益。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Has Cathie Wood Lost Her Touch?<blockquote>凯西·伍德失去联系了吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHas Cathie Wood Lost Her Touch?<blockquote>凯西·伍德失去联系了吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-11-26 15:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stocks were mostly higher heading into the Thanksgiving holiday, as investors were able to overcome some early nervousness to claw back ground from losses at the beginning of the session. The&nbsp;<b>Dow Jones Industrial Average</b>&nbsp;still fell slightly on the day, but both the&nbsp;<b>S&amp;P 500</b>&nbsp;and&nbsp;<b>Nasdaq Composite</b>&nbsp;managed to post modest gains.</p><p><blockquote>感恩节假期前，股市大多走高，因为投资者能够克服早期的紧张情绪，从盘初的跌幅中收复失地。The<b>道琼斯工业平均指数</b>日仍小幅下跌，但两<b>标普500</b>和<b>纳斯达克复合材料</b>设法取得了适度的收益。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fd61fee96cd981d55bc6c0a4a541d9b\" tg-width=\"1149\" tg-height=\"331\" width=\"100%\" height=\"auto\"><span>DATA SOURCE: YAHOO! FINANCE.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：雅虎！金融。</span></p></blockquote></p><p> The day's moves continued the overall strong performance from the stock market in 2021. Yet even though major indexes are up substantially so far this year, Cathie Wood hasn't been as fortunate. Her ARK Invest&nbsp;exchange-traded funds&nbsp;haven't matched the market's performance in 2021, and some wonder if the revered manager has lost her touch. We'll look more closely at that question below.</p><p><blockquote>当天的走势延续了2021年股市的整体强劲表现。然而，尽管今年迄今为止主要股指大幅上涨，凯西·伍德却没那么幸运。她的ARK Invest交易所交易基金未能与2021年的市场表现相匹配，一些人怀疑这位受人尊敬的经理是否已经失去了影响力。我们将在下面更仔细地研究这个问题。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/690a1e671906b4e173308a05c1d903f0\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>A down year for ARK Innovation</b></p><p><blockquote><b>方舟创新低迷的一年</b></blockquote></p><p> It's been a tough year to be a&nbsp;Cathie Wood investor. For the most part, many of the high-growth stocks that played prominent roles in the&nbsp;<b>ARK Innovation ETF</b>(NYSEMKT:ARKK)&nbsp;and other Wood-led ETFs topped out early in the year. That's left investors slowly but steadily losing ground throughout much of 2021, with ARK Innovation falling about 15% year to date.</p><p><blockquote>对于凯西·伍德投资者来说，这是艰难的一年。在很大程度上，许多在经济增长中发挥突出作用的高增长股票<b>方舟创新ETF</b>（NYSEMKT：ARKK）和其他木材主导的ETF在今年年初见顶。这使得投资者在2021年的大部分时间里缓慢但稳步地下跌，ARK Innovation今年迄今下跌了约15%。</blockquote></p><p> However, a closer look at the stocks involved shows that Wood's performance has been much more mixed. Stocks like&nbsp;<b>Tesla</b>&nbsp;and&nbsp;<b>Shopify</b>&nbsp;have continued to gain ground for ARK Innovation, helping to offset losses elsewhere. Yet poor performance from telehealth pioneer&nbsp;<b>Teladoc Health</b>&nbsp;and&nbsp;<b>Zoom Video Communications</b>&nbsp;has weighed on total returns, and pullbacks in other stocks that were high-flyers earlier in the year haven't helped.</p><p><blockquote>然而，仔细观察所涉及的股票就会发现，伍德的表现好坏参半。股票喜欢<b>特斯拉</b>和<b>Shopify</b>方舟创新继续取得进展，帮助抵消了其他地方的损失。然而远程医疗先驱表现不佳<b>Teladoc健康</b>和<b>Zoom Video通信公司</b>拖累了总回报，而今年早些时候其他表现强劲的股票的回调也无济于事。</blockquote></p><p> <b>Mixed performance elsewhere</b></p><p><blockquote><b>其他地方表现好坏参半</b></blockquote></p><p> Moreover, Wood's other funds show a much more varied track record. The biggest losses have come for the&nbsp;<b>ARK Genomic Revolution ETF</b>(NYSEMKT:ARKG), which is down more than 30% for the year as four of its top five holdings have fallen from year-ago levels.</p><p><blockquote>此外，伍德的其他基金表现出更加多样化的业绩记录。最大的损失已经到来<b>方舟基因组革命ETF</b>(NYSEMKT：ARKG)今年以来股价下跌超过30%，其前五大持股中有四只较去年同期水平下跌。</blockquote></p><p> Conversely, declines for ARK Invest's ETFs in the fintech and next-generation internet field are down just a few percent for the year. And the autonomous technology and robotics fund has actually gained ground, albeit trailing the broader market's return year to date.</p><p><blockquote>相反，ARK Invest在金融科技和下一代互联网领域的ETF今年的跌幅仅为百分之几。自主技术和机器人基金实际上已经取得了进展，尽管今年迄今为止的回报率落后于大盘。</blockquote></p><p> <b>Don't count Cathie Wood out</b></p><p><blockquote><b>不要把凯西·伍德排除在外</b></blockquote></p><p> The anti-Wood sentiment has gotten so prominent that a new exchange-traded fund has come out that runs explicitly counter to her strategy.<b>Tuttle Capital Short Innovation ETF</b>&nbsp;just came out in early November, with the express goal of shorting the stocks that Wood owns in ARK Innovation.</p><p><blockquote>反伍德情绪变得如此突出，以至于一只新的交易所交易基金已经问世，这显然与她的策略背道而驰。<b>塔特尔资本空头创新ETF</b>11月初刚刚出来，明确目标是做空Wood持有的ARK Innovation股票。</blockquote></p><p> Yet Wood is ready to double down on her picks. Indeed, a recent suggestion from the ARK Invest leader&nbsp; would combine her pro-innovation strategy with short-selling of major stocks in benchmarks like the S&amp;P 500. That could boost returns, albeit at the price of even higher potential volatility in performance. Even Wood acknowledges the risks, having referred to the strategy in an interview on CNBC as \"ARK on steroids.\"</p><p><blockquote>然而，伍德准备在她的选择上加倍努力。事实上，方舟投资领袖最近提出的一项建议是将她的支持创新策略与卖空标普500等基准中的主要股票结合起来。这可能会提高回报，尽管代价是业绩的潜在波动性更大。就连伍德也承认存在风险，他在接受CNBC采访时将这一策略称为“服用类固醇的方舟”。</blockquote></p><p> Most importantly, focusing on 2021's performance unfairly leaves out Wood's amazing gains in 2020, which have led to three-year returns on ARK funds ranging from 134% to 195%. A return to that pace of growth might take a while, but Wood seems optimistic that her stock picks have the potential to generate strong gains for shareholders with the patience and discipline to stick with them.</p><p><blockquote>最重要的是，关注2021年的业绩不公平地忽略了伍德在2020年的惊人收益，这导致ARK基金的三年回报率在134%至195%之间。恢复这种增长速度可能需要一段时间，但伍德似乎很乐观，她选择的股票有可能为有耐心和纪律坚持下去的股东带来强劲收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/11/24/has-cathie-wood-lost-her-touch/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKF":"ARK Fintech Innovation ETF","ARKK":"ARK Innovation ETF","ARKQ":"ARK Autonomous Technology & Robotics ETF"},"source_url":"https://www.fool.com/investing/2021/11/24/has-cathie-wood-lost-her-touch/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108962994","content_text":"Stocks were mostly higher heading into the Thanksgiving holiday, as investors were able to overcome some early nervousness to claw back ground from losses at the beginning of the session. The Dow Jones Industrial Average still fell slightly on the day, but both the S&P 500 and Nasdaq Composite managed to post modest gains.\nDATA SOURCE: YAHOO! FINANCE.\nThe day's moves continued the overall strong performance from the stock market in 2021. Yet even though major indexes are up substantially so far this year, Cathie Wood hasn't been as fortunate. Her ARK Invest exchange-traded funds haven't matched the market's performance in 2021, and some wonder if the revered manager has lost her touch. We'll look more closely at that question below.\nIMAGE SOURCE: GETTY IMAGES.\nA down year for ARK Innovation\nIt's been a tough year to be a Cathie Wood investor. For the most part, many of the high-growth stocks that played prominent roles in the ARK Innovation ETF(NYSEMKT:ARKK) and other Wood-led ETFs topped out early in the year. That's left investors slowly but steadily losing ground throughout much of 2021, with ARK Innovation falling about 15% year to date.\nHowever, a closer look at the stocks involved shows that Wood's performance has been much more mixed. Stocks like Tesla and Shopify have continued to gain ground for ARK Innovation, helping to offset losses elsewhere. Yet poor performance from telehealth pioneer Teladoc Health and Zoom Video Communications has weighed on total returns, and pullbacks in other stocks that were high-flyers earlier in the year haven't helped.\nMixed performance elsewhere\nMoreover, Wood's other funds show a much more varied track record. The biggest losses have come for the ARK Genomic Revolution ETF(NYSEMKT:ARKG), which is down more than 30% for the year as four of its top five holdings have fallen from year-ago levels.\nConversely, declines for ARK Invest's ETFs in the fintech and next-generation internet field are down just a few percent for the year. And the autonomous technology and robotics fund has actually gained ground, albeit trailing the broader market's return year to date.\nDon't count Cathie Wood out\nThe anti-Wood sentiment has gotten so prominent that a new exchange-traded fund has come out that runs explicitly counter to her strategy.Tuttle Capital Short Innovation ETF just came out in early November, with the express goal of shorting the stocks that Wood owns in ARK Innovation.\nYet Wood is ready to double down on her picks. Indeed, a recent suggestion from the ARK Invest leader  would combine her pro-innovation strategy with short-selling of major stocks in benchmarks like the S&P 500. That could boost returns, albeit at the price of even higher potential volatility in performance. Even Wood acknowledges the risks, having referred to the strategy in an interview on CNBC as \"ARK on steroids.\"\nMost importantly, focusing on 2021's performance unfairly leaves out Wood's amazing gains in 2020, which have led to three-year returns on ARK funds ranging from 134% to 195%. A return to that pace of growth might take a while, but Wood seems optimistic that her stock picks have the potential to generate strong gains for shareholders with the patience and discipline to stick with them.","news_type":1,"symbols_score_info":{"ARKF":0.9,"ARKK":0.9,"ARKQ":0.9}},"isVote":1,"tweetType":1,"viewCount":3933,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":874571090,"gmtCreate":1637805785579,"gmtModify":1637805785766,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"What eis the lower support level for ROKU?","listText":"What eis the lower support level for ROKU?","text":"What eis the lower support level for ROKU?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/874571090","repostId":"1136956516","repostType":4,"repost":{"id":"1136956516","kind":"news","pubTimestamp":1637804684,"share":"https://www.laohu8.com/m/news/1136956516?lang=zh_CN&edition=full","pubTime":"2021-11-25 09:44","market":"us","language":"en","title":"Roku Stock: Why Jim Cramer Wants to Sell It<blockquote>Roku股票：为什么吉姆·克莱默想要出售它</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1136956516","media":"TheStreet","summary":"CNBC’s Jim Cramer feels the urge to sell ROKU. MavenFlix talks about some of the key reasons why the","content":"<p>CNBC’s Jim Cramer feels the urge to sell ROKU. MavenFlix talks about some of the key reasons why the TV personality may be right.</p><p><blockquote>CNBC的吉姆·克莱默(Jim Cramer)有出售ROKU的冲动。MavenFlix谈到了电视名人可能是对的一些关键原因。</blockquote></p><p> Roku stock&nbsp;has tanked from $274 per share in mid-November to around $225 now. The market had been projecting high revenues in the most recent quarter, but Roku did not&nbsp;deliverthe expected results earlier this month.</p><p><blockquote>Roku股价已从11月中旬的每股274美元跌至目前的225美元左右。市场一直预计最近一个季度的收入会很高，但Roku本月早些时候没有实现预期的业绩。</blockquote></p><p> Reinforcing bearishness, Jim Cramer has recentlysaidon CNBC: \"every time I look at Roku, I want to sell it\". The comment followed the presenter’s take on a sell-side report that recommended selling the stock. But why such skepticism?</p><p><blockquote>吉姆·克莱默(Jim Cramer)最近在CNBC上表示：“每次我看到Roku，我都想卖掉它”，这加剧了悲观情绪。该评论是在主持人对一份建议出售该股票的卖方报告发表之后发表的。但是为什么会有这样的怀疑呢？</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fa43949a100665b5ceb4b8a647ee6f93\" tg-width=\"1240\" tg-height=\"827\" width=\"100%\" height=\"auto\"><span>Figure 1: Jim Cramer, from CNBC's MadMoney.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：吉姆·克莱默，来自CNBC的MadMoney。</span></p></blockquote></p><p> <b>Roku as a dominant platform</b></p><p><blockquote><b>Roku作为主导平台</b></blockquote></p><p> Regarding streaming platform aggregators, Roku stands out as the most used and the best known. However, it may still be too early to say that the company will continue to dominate this market. Roku could face increasing competitive pressures, especially against Amazon. The e-commerce and cloud giant sells Fire TV systems and is also expected to start producing smart TVs to compete directly with the San Jose-based company.</p><p><blockquote>关于流媒体平台聚合器，Roku是最常用和最知名的。然而，现在说该公司将继续主导这一市场可能还为时过早。Roku可能面临越来越大的竞争压力，尤其是与亚马逊的竞争压力。这家电子商务和云巨头销售Fire TV系统，预计还将开始生产智能电视，与这家总部位于圣何塞的公司直接竞争。</blockquote></p><p> <b>High multiples to go with disappointing revenues</b></p><p><blockquote><b>高市盈率与令人失望的收入相匹配</b></blockquote></p><p> Roku is trading at a P/E that is almost three times higher than its peers’. One would need to fast-forward three years to find a 2024 earnings multiple of 50 times more palatable, even if not overly de-risked yet. Investors with a GARP (growth at reasonable price) mindset might be tempted to consider investing in other companies, including Disney&nbsp;and Netflix, which carry substantially lower multiples.</p><p><blockquote>Roku的市盈率几乎是同行的三倍。人们需要快进三年才能找到50倍的2024年市盈率，即使风险尚未过度降低。具有GARP（合理价格增长）心态的投资者可能会考虑投资其他公司，包括迪士尼和Netflix，它们的市盈率要低得多。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ed68564ba9d9a2cb47592a9ed3303b96\" tg-width=\"721\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Figure 2: Roku peers price-to-earnings comparison.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：Roku同行市盈率比较。</span></p></blockquote></p><p> ROKU’s sky-high valuations could be justified by outsized growth opportunities. In recent quarters, the company has delivered higher-than-expected earnings, and expectations for longer-term bottom-line performance has been sloping higher as well. See below.</p><p><blockquote>巨大的增长机会可能证明ROKU的天价估值是合理的。最近几个季度，该公司的盈利高于预期，对长期底线业绩的预期也一直在上升。见下文。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1decb4d6e8f289fe32e1b7ce9797b385\" tg-width=\"798\" tg-height=\"346\" width=\"100%\" height=\"auto\"><span>Figure 3: ROKU EPS surprise &amp; estimates by quarter.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：ROKU每股收益惊喜和季度预估。</span></p></blockquote></p><p> However, projections for next year are all below 2020 and 2021 numbers, which means that the market expects a slowdown in the company's growth pace. This could be a warning sign for investors in the short term, as more modest profit growth can translate into valuation compression for ROKU.</p><p><blockquote>然而，对明年的预测均低于2020年和2021年的数字，这意味着市场预计该公司的增长速度将放缓。短期内，这对投资者来说可能是一个警告信号，因为更温和的利润增长可能会转化为ROKU的估值压缩。</blockquote></p><p> <b>Faceoff against competitors</b></p><p><blockquote><b>对抗竞争对手</b></blockquote></p><p> Compared to its main peers, ROKU stock has been performing poorly. Even DIS, a 2021 loser in the large-cap tech and media spaces, has done substantially better at a year-to-date loss of 11% (see below) while ROKU has fallen by more than 20%. At the same time, Netflix has accumulated gains of 32%. Clearly, momentum has been on the side of the Los Gatos company.</p><p><blockquote>与主要同行相比，ROKU股票表现不佳。即使是2021年大型科技和媒体领域的输家DIS，其表现也要好得多，今年迄今亏损了11%（见下文），而ROKU则下跌了20%以上。与此同时，奈飞累计涨幅达32%。显然，势头一直站在洛斯加托斯公司一边。</blockquote></p><p> Some investors could see ROKU’s underperformance as a buying opportunity. The argument loses strength, however, when P/E still looks so bloated.</p><p><blockquote>一些投资者可能将ROKU的表现不佳视为买入机会。然而，当市盈率看起来仍然如此膨胀时，这种论点就失去了力量。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7bf7a8c1453982137102c0746e93085f\" tg-width=\"787\" tg-height=\"424\" width=\"100%\" height=\"auto\"><span>Figure 4: ROKU, NFLX and DIS year-to-date returns.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图4：ROKU、NFLX和DIS年初至今的回报。</span></p></blockquote></p><p> <b>Our view</b></p><p><blockquote><b>我们的观点</b></blockquote></p><p> Even though analysts that cover ROKU have high expectations for the long term, we think that there are better stocks to play the streaming sector's growth opportunities. While ROKU can grow earnings into its rich valuations, we fear for short-term headwinds (e.g. negative momentum, growth deceleration, etc.) and see companies like Netflix, Disney and Amazon as better bets.</p><p><blockquote>尽管研究ROKU的分析师对长期抱有很高的期望，但我们认为有更好的股票可以抓住流媒体行业的增长机会。虽然ROKU可以将盈利增长到其丰富的估值，但我们担心短期阻力（例如负面势头、增长减速等），并认为Netflix、Disney和Amazon等公司是更好的选择。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Roku Stock: Why Jim Cramer Wants to Sell It<blockquote>Roku股票：为什么吉姆·克莱默想要出售它</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRoku Stock: Why Jim Cramer Wants to Sell It<blockquote>Roku股票：为什么吉姆·克莱默想要出售它</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-11-25 09:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>CNBC’s Jim Cramer feels the urge to sell ROKU. MavenFlix talks about some of the key reasons why the TV personality may be right.</p><p><blockquote>CNBC的吉姆·克莱默(Jim Cramer)有出售ROKU的冲动。MavenFlix谈到了电视名人可能是对的一些关键原因。</blockquote></p><p> Roku stock&nbsp;has tanked from $274 per share in mid-November to around $225 now. The market had been projecting high revenues in the most recent quarter, but Roku did not&nbsp;deliverthe expected results earlier this month.</p><p><blockquote>Roku股价已从11月中旬的每股274美元跌至目前的225美元左右。市场一直预计最近一个季度的收入会很高，但Roku本月早些时候没有实现预期的业绩。</blockquote></p><p> Reinforcing bearishness, Jim Cramer has recentlysaidon CNBC: \"every time I look at Roku, I want to sell it\". The comment followed the presenter’s take on a sell-side report that recommended selling the stock. But why such skepticism?</p><p><blockquote>吉姆·克莱默(Jim Cramer)最近在CNBC上表示：“每次我看到Roku，我都想卖掉它”，这加剧了悲观情绪。该评论是在主持人对一份建议出售该股票的卖方报告发表之后发表的。但是为什么会有这样的怀疑呢？</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fa43949a100665b5ceb4b8a647ee6f93\" tg-width=\"1240\" tg-height=\"827\" width=\"100%\" height=\"auto\"><span>Figure 1: Jim Cramer, from CNBC's MadMoney.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：吉姆·克莱默，来自CNBC的MadMoney。</span></p></blockquote></p><p> <b>Roku as a dominant platform</b></p><p><blockquote><b>Roku作为主导平台</b></blockquote></p><p> Regarding streaming platform aggregators, Roku stands out as the most used and the best known. However, it may still be too early to say that the company will continue to dominate this market. Roku could face increasing competitive pressures, especially against Amazon. The e-commerce and cloud giant sells Fire TV systems and is also expected to start producing smart TVs to compete directly with the San Jose-based company.</p><p><blockquote>关于流媒体平台聚合器，Roku是最常用和最知名的。然而，现在说该公司将继续主导这一市场可能还为时过早。Roku可能面临越来越大的竞争压力，尤其是与亚马逊的竞争压力。这家电子商务和云巨头销售Fire TV系统，预计还将开始生产智能电视，与这家总部位于圣何塞的公司直接竞争。</blockquote></p><p> <b>High multiples to go with disappointing revenues</b></p><p><blockquote><b>高市盈率与令人失望的收入相匹配</b></blockquote></p><p> Roku is trading at a P/E that is almost three times higher than its peers’. One would need to fast-forward three years to find a 2024 earnings multiple of 50 times more palatable, even if not overly de-risked yet. Investors with a GARP (growth at reasonable price) mindset might be tempted to consider investing in other companies, including Disney&nbsp;and Netflix, which carry substantially lower multiples.</p><p><blockquote>Roku的市盈率几乎是同行的三倍。人们需要快进三年才能找到50倍的2024年市盈率，即使风险尚未过度降低。具有GARP（合理价格增长）心态的投资者可能会考虑投资其他公司，包括迪士尼和Netflix，它们的市盈率要低得多。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ed68564ba9d9a2cb47592a9ed3303b96\" tg-width=\"721\" tg-height=\"371\" width=\"100%\" height=\"auto\"><span>Figure 2: Roku peers price-to-earnings comparison.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2：Roku同行市盈率比较。</span></p></blockquote></p><p> ROKU’s sky-high valuations could be justified by outsized growth opportunities. In recent quarters, the company has delivered higher-than-expected earnings, and expectations for longer-term bottom-line performance has been sloping higher as well. See below.</p><p><blockquote>巨大的增长机会可能证明ROKU的天价估值是合理的。最近几个季度，该公司的盈利高于预期，对长期底线业绩的预期也一直在上升。见下文。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1decb4d6e8f289fe32e1b7ce9797b385\" tg-width=\"798\" tg-height=\"346\" width=\"100%\" height=\"auto\"><span>Figure 3: ROKU EPS surprise &amp; estimates by quarter.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图3：ROKU每股收益惊喜和季度预估。</span></p></blockquote></p><p> However, projections for next year are all below 2020 and 2021 numbers, which means that the market expects a slowdown in the company's growth pace. This could be a warning sign for investors in the short term, as more modest profit growth can translate into valuation compression for ROKU.</p><p><blockquote>然而，对明年的预测均低于2020年和2021年的数字，这意味着市场预计该公司的增长速度将放缓。短期内，这对投资者来说可能是一个警告信号，因为更温和的利润增长可能会转化为ROKU的估值压缩。</blockquote></p><p> <b>Faceoff against competitors</b></p><p><blockquote><b>对抗竞争对手</b></blockquote></p><p> Compared to its main peers, ROKU stock has been performing poorly. Even DIS, a 2021 loser in the large-cap tech and media spaces, has done substantially better at a year-to-date loss of 11% (see below) while ROKU has fallen by more than 20%. At the same time, Netflix has accumulated gains of 32%. Clearly, momentum has been on the side of the Los Gatos company.</p><p><blockquote>与主要同行相比，ROKU股票表现不佳。即使是2021年大型科技和媒体领域的输家DIS，其表现也要好得多，今年迄今亏损了11%（见下文），而ROKU则下跌了20%以上。与此同时，奈飞累计涨幅达32%。显然，势头一直站在洛斯加托斯公司一边。</blockquote></p><p> Some investors could see ROKU’s underperformance as a buying opportunity. The argument loses strength, however, when P/E still looks so bloated.</p><p><blockquote>一些投资者可能将ROKU的表现不佳视为买入机会。然而，当市盈率看起来仍然如此膨胀时，这种论点就失去了力量。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7bf7a8c1453982137102c0746e93085f\" tg-width=\"787\" tg-height=\"424\" width=\"100%\" height=\"auto\"><span>Figure 4: ROKU, NFLX and DIS year-to-date returns.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图4：ROKU、NFLX和DIS年初至今的回报。</span></p></blockquote></p><p> <b>Our view</b></p><p><blockquote><b>我们的观点</b></blockquote></p><p> Even though analysts that cover ROKU have high expectations for the long term, we think that there are better stocks to play the streaming sector's growth opportunities. While ROKU can grow earnings into its rich valuations, we fear for short-term headwinds (e.g. negative momentum, growth deceleration, etc.) and see companies like Netflix, Disney and Amazon as better bets.</p><p><blockquote>尽管研究ROKU的分析师对长期抱有很高的期望，但我们认为有更好的股票可以抓住流媒体行业的增长机会。虽然ROKU可以将盈利增长到其丰富的估值，但我们担心短期阻力（例如负面势头、增长减速等），并认为Netflix、Disney和Amazon等公司是更好的选择。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/streaming/others/roku-stock-jim-cramer-wants-to-sell-it-heres-why\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc"},"source_url":"https://www.thestreet.com/streaming/others/roku-stock-jim-cramer-wants-to-sell-it-heres-why","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136956516","content_text":"CNBC’s Jim Cramer feels the urge to sell ROKU. MavenFlix talks about some of the key reasons why the TV personality may be right.\nRoku stock has tanked from $274 per share in mid-November to around $225 now. The market had been projecting high revenues in the most recent quarter, but Roku did not deliverthe expected results earlier this month.\nReinforcing bearishness, Jim Cramer has recentlysaidon CNBC: \"every time I look at Roku, I want to sell it\". The comment followed the presenter’s take on a sell-side report that recommended selling the stock. But why such skepticism?\nFigure 1: Jim Cramer, from CNBC's MadMoney.\nRoku as a dominant platform\nRegarding streaming platform aggregators, Roku stands out as the most used and the best known. However, it may still be too early to say that the company will continue to dominate this market. Roku could face increasing competitive pressures, especially against Amazon. The e-commerce and cloud giant sells Fire TV systems and is also expected to start producing smart TVs to compete directly with the San Jose-based company.\nHigh multiples to go with disappointing revenues\nRoku is trading at a P/E that is almost three times higher than its peers’. One would need to fast-forward three years to find a 2024 earnings multiple of 50 times more palatable, even if not overly de-risked yet. Investors with a GARP (growth at reasonable price) mindset might be tempted to consider investing in other companies, including Disney and Netflix, which carry substantially lower multiples.\nFigure 2: Roku peers price-to-earnings comparison.\nROKU’s sky-high valuations could be justified by outsized growth opportunities. In recent quarters, the company has delivered higher-than-expected earnings, and expectations for longer-term bottom-line performance has been sloping higher as well. See below.\nFigure 3: ROKU EPS surprise & estimates by quarter.\nHowever, projections for next year are all below 2020 and 2021 numbers, which means that the market expects a slowdown in the company's growth pace. This could be a warning sign for investors in the short term, as more modest profit growth can translate into valuation compression for ROKU.\nFaceoff against competitors\nCompared to its main peers, ROKU stock has been performing poorly. Even DIS, a 2021 loser in the large-cap tech and media spaces, has done substantially better at a year-to-date loss of 11% (see below) while ROKU has fallen by more than 20%. At the same time, Netflix has accumulated gains of 32%. Clearly, momentum has been on the side of the Los Gatos company.\nSome investors could see ROKU’s underperformance as a buying opportunity. The argument loses strength, however, when P/E still looks so bloated.\nFigure 4: ROKU, NFLX and DIS year-to-date returns.\nOur view\nEven though analysts that cover ROKU have high expectations for the long term, we think that there are better stocks to play the streaming sector's growth opportunities. While ROKU can grow earnings into its rich valuations, we fear for short-term headwinds (e.g. negative momentum, growth deceleration, etc.) and see companies like Netflix, Disney and Amazon as better bets.","news_type":1,"symbols_score_info":{"ROKU":0.9}},"isVote":1,"tweetType":1,"viewCount":4062,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":875249749,"gmtCreate":1637661782385,"gmtModify":1637662818257,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"It's expected that they won't see such high growth with post covid opening.","listText":"It's expected that they won't see such high growth with post covid opening.","text":"It's expected that they won't see such high growth with post covid opening.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875249749","repostId":"1116539537","repostType":4,"repost":{"id":"1116539537","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":1637658012,"share":"https://www.laohu8.com/m/news/1116539537?lang=zh_CN&edition=full","pubTime":"2021-11-23 17:00","market":"us","language":"en","title":"Zoom shares fell nearly 8% in premarket trading<blockquote>Zoom股价在盘前交易中下跌近8%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1116539537","media":"Tiger Newspress","summary":"Zoom shares fell nearly 8% in premarket trading.Zoom Video Communications Inc's third-quarter revenu","content":"<p>Zoom&nbsp;shares&nbsp;fell&nbsp;nearly&nbsp;8%&nbsp;in&nbsp;premarket&nbsp;trading.<img src=\"https://static.tigerbbs.com/5aa290d34bdad161eb360bdb67b98b79\" tg-width=\"875\" tg-height=\"618\" referrerpolicy=\"no-referrer\">Zoom Video Communications Inc's&nbsp;third-quarter revenue growth rate slowed to 35% as demand for its video-conferencing tools eased from the pandemic-fueled heights last year.</p><p><blockquote>Zoom股价在盘前交易中下跌近8%。由于对其视频会议工具的需求从去年大流行推动的高点有所放缓，Zoom Video通信公司第三季度收入增长率放缓至35%。</blockquote></p><p> Investment bankers and analysts have warned that Zoom faces several hurdles in sustaining growth after its $14.7 billion bid to buy call center software firm Five9 Inc(FIVN.O)fell through.</p><p><blockquote>投资银行家和分析师警告称，Zoom在以147亿美元收购看涨期权中心软件公司Five9 Inc(FIVN.O)失败后，在维持增长方面面临几个障碍。</blockquote></p><p> Still, Zoom reported an adjusted profit of $1.11 per share, beating Wall Street's estimates $1.09 per share, according to Refinitiv data.</p><p><blockquote>尽管如此，根据Refinitiv的数据，Zoom公布的调整后利润为每股1.11美元，超过了华尔街预期的每股1.09美元。</blockquote></p><p> The company also forecast current-quarter revenue and earnings above expectations, and raised its full-year revenue estimate to around $4.08 billion from about $4.01 billion earlier.</p><p><blockquote>该公司还预测本季度营收和盈利高于预期，并将全年营收预期从此前的约40.1亿美元上调至约40.8亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zoom shares fell nearly 8% in premarket trading<blockquote>Zoom股价在盘前交易中下跌近8%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZoom shares fell nearly 8% in premarket trading<blockquote>Zoom股价在盘前交易中下跌近8%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-23 17:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zoom&nbsp;shares&nbsp;fell&nbsp;nearly&nbsp;8%&nbsp;in&nbsp;premarket&nbsp;trading.<img src=\"https://static.tigerbbs.com/5aa290d34bdad161eb360bdb67b98b79\" tg-width=\"875\" tg-height=\"618\" referrerpolicy=\"no-referrer\">Zoom Video Communications Inc's&nbsp;third-quarter revenue growth rate slowed to 35% as demand for its video-conferencing tools eased from the pandemic-fueled heights last year.</p><p><blockquote>Zoom股价在盘前交易中下跌近8%。由于对其视频会议工具的需求从去年大流行推动的高点有所放缓，Zoom Video通信公司第三季度收入增长率放缓至35%。</blockquote></p><p> Investment bankers and analysts have warned that Zoom faces several hurdles in sustaining growth after its $14.7 billion bid to buy call center software firm Five9 Inc(FIVN.O)fell through.</p><p><blockquote>投资银行家和分析师警告称，Zoom在以147亿美元收购看涨期权中心软件公司Five9 Inc(FIVN.O)失败后，在维持增长方面面临几个障碍。</blockquote></p><p> Still, Zoom reported an adjusted profit of $1.11 per share, beating Wall Street's estimates $1.09 per share, according to Refinitiv data.</p><p><blockquote>尽管如此，根据Refinitiv的数据，Zoom公布的调整后利润为每股1.11美元，超过了华尔街预期的每股1.09美元。</blockquote></p><p> The company also forecast current-quarter revenue and earnings above expectations, and raised its full-year revenue estimate to around $4.08 billion from about $4.01 billion earlier.</p><p><blockquote>该公司还预测本季度营收和盈利高于预期，并将全年营收预期从此前的约40.1亿美元上调至约40.8亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116539537","content_text":"Zoom shares fell nearly 8% in premarket trading.Zoom Video Communications Inc's third-quarter revenue growth rate slowed to 35% as demand for its video-conferencing tools eased from the pandemic-fueled heights last year.\nInvestment bankers and analysts have warned that Zoom faces several hurdles in sustaining growth after its $14.7 billion bid to buy call center software firm Five9 Inc(FIVN.O)fell through.\nStill, Zoom reported an adjusted profit of $1.11 per share, beating Wall Street's estimates $1.09 per share, according to Refinitiv data.\nThe company also forecast current-quarter revenue and earnings above expectations, and raised its full-year revenue estimate to around $4.08 billion from about $4.01 billion earlier.","news_type":1,"symbols_score_info":{"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":1230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":875032514,"gmtCreate":1637586170024,"gmtModify":1637586170230,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Hmm.. will it result in BIDU price increase?","listText":"Hmm.. will it result in BIDU price increase?","text":"Hmm.. will it result in BIDU price increase?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875032514","repostId":"1171692239","repostType":4,"repost":{"id":"1171692239","kind":"news","pubTimestamp":1637582731,"share":"https://www.laohu8.com/m/news/1171692239?lang=zh_CN&edition=full","pubTime":"2021-11-22 20:05","market":"us","language":"en","title":"Baidu in partnership with Sanofi to use its algorithm in mRNA vaccine, therapy development<blockquote>百度与赛诺菲合作，将其算法用于mRNA疫苗和疗法开发</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1171692239","media":"Reuters","summary":"BEIJING, Nov 22 (Reuters) - Chinese tech giant Baidu Inc(9888.HK)said on Monday it has licensed its ","content":"<p>BEIJING, Nov 22 (Reuters) - Chinese tech giant Baidu Inc(9888.HK)said on Monday it has licensed its algorithm for messenger RNA (mRNA) sequence to Sanofi SA for use in designing vaccine and therapeutic products, entering its first such commercial deal with a major global drugmaker.</p><p><blockquote>路透北京11月22日-中国科技巨头百度公司(9888.HK)周一表示，已将其信使RNA(mRNA)序列算法授权给赛诺菲公司，用于设计疫苗和治疗产品，这是其首个此类产品。与全球主要制药商达成商业协议。</blockquote></p><p> Sanofi(SASY.PA)had been one of the world's biggest vaccine makers before the pandemic, but the French firm was beaten by rivals BioNTech /Pfizer(PFE.N)and Moderna(MRNA.O)in developing mRNA shots against COVID-19.read more</p><p><blockquote>赛诺菲(SASY.PA)在大流行之前一直是世界上最大的疫苗制造商之一，但这家法国公司在开发针对COVID-19的mRNA疫苗方面被竞争对手BioNTech/辉瑞(PFE.N)和Moderna(MRNA.O)击败。阅读更多</blockquote></p><p> Sanofi stopped trials of its own mRNA COVID-19 shot in September, and is instead focusing on efforts with GlaxoSmithKline(GSK.L)to bring another COVID-19 vaccine candidate to market based on the more conventional protein-based approach.</p><p><blockquote>赛诺菲于9月停止了自己的mRNA COVID-19疫苗的试验，转而专注于与葛兰素史克(GSK.L)合作，将另一种基于更传统的蛋白质方法的COVID-19候选疫苗推向市场。</blockquote></p><p> The French groupsaidit would focus its mRNA resources on other infectious diseases and therapeutics with strong unmet need.</p><p><blockquote>这家法国集团表示，它将把其mRNA资源集中用于其他需求未得到满足的传染病和治疗方法。</blockquote></p><p> Baidu will receive milestone payments when any mRNA-based therapy or vaccine candidate discovered by Sanofi using its algorithm enters clinical trials, said Huang Liang, a Baidu scientist leading the project.</p><p><blockquote>领导该项目的百度科学家黄亮表示，当赛诺菲使用其算法发现的任何基于mRNA的疗法或候选疫苗进入临床试验时，百度将获得里程碑付款。</blockquote></p><p> \"The fact that this agreement includes milestone payments shows that [Sanofi] has great confidence in bringing candidates developed with Baidu algorithm into clinical trials and to the market,\" Huang told Reuters. He declined to disclose the size of the deal.</p><p><blockquote>“这项协议包括里程碑付款的事实表明，[赛诺菲]非常有信心将使用百度算法开发的候选药物带入临床试验并推向市场，”Huang告诉路透社。他拒绝透露交易规模。</blockquote></p><p> An mRNA-based vaccine contains mRNA sequence which instructs human cells to produce proteins that can spur the immune system into action.</p><p><blockquote>基于mRNA的疫苗含有mRNA序列，该序列指示人类细胞产生可以刺激免疫系统发挥作用的蛋白质。</blockquote></p><p> Baidu's algorithm is designed to deliver a larger number of optimised mRNA sequences and there are early signs that it could be more suitable than standard algorithms in vaccine and therapeutic drug development, Huang said.</p><p><blockquote>黄说，百度的算法旨在提供大量优化的mRNA序列，有早期迹象表明，它可能比标准算法更适合疫苗和治疗药物开发。</blockquote></p><p> Specifically regarding COVID-19 vaccine candidates, those containing mRNA sequences generated by Baidu's algorithm were more stable and appeared to require a smaller dosage than a baseline shot based on a standard algorithm, according to&nbsp;lab studies and animal tests, which haven't gone through peer-review.</p><p><blockquote>特别是关于COVID-19候选疫苗，根据尚未通过的实验室研究和动物测试，那些含有百度算法生成的mRNA序列的疫苗更稳定，并且似乎比基于标准算法的基线注射需要更小的剂量。同行评审。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Baidu in partnership with Sanofi to use its algorithm in mRNA vaccine, therapy development<blockquote>百度与赛诺菲合作，将其算法用于mRNA疫苗和疗法开发</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBaidu in partnership with Sanofi to use its algorithm in mRNA vaccine, therapy development<blockquote>百度与赛诺菲合作，将其算法用于mRNA疫苗和疗法开发</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-11-22 20:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p>BEIJING, Nov 22 (Reuters) - Chinese tech giant Baidu Inc(9888.HK)said on Monday it has licensed its algorithm for messenger RNA (mRNA) sequence to Sanofi SA for use in designing vaccine and therapeutic products, entering its first such commercial deal with a major global drugmaker.</p><p><blockquote>路透北京11月22日-中国科技巨头百度公司(9888.HK)周一表示，已将其信使RNA(mRNA)序列算法授权给赛诺菲公司，用于设计疫苗和治疗产品，这是其首个此类产品。与全球主要制药商达成商业协议。</blockquote></p><p> Sanofi(SASY.PA)had been one of the world's biggest vaccine makers before the pandemic, but the French firm was beaten by rivals BioNTech /Pfizer(PFE.N)and Moderna(MRNA.O)in developing mRNA shots against COVID-19.read more</p><p><blockquote>赛诺菲(SASY.PA)在大流行之前一直是世界上最大的疫苗制造商之一，但这家法国公司在开发针对COVID-19的mRNA疫苗方面被竞争对手BioNTech/辉瑞(PFE.N)和Moderna(MRNA.O)击败。阅读更多</blockquote></p><p> Sanofi stopped trials of its own mRNA COVID-19 shot in September, and is instead focusing on efforts with GlaxoSmithKline(GSK.L)to bring another COVID-19 vaccine candidate to market based on the more conventional protein-based approach.</p><p><blockquote>赛诺菲于9月停止了自己的mRNA COVID-19疫苗的试验，转而专注于与葛兰素史克(GSK.L)合作，将另一种基于更传统的蛋白质方法的COVID-19候选疫苗推向市场。</blockquote></p><p> The French groupsaidit would focus its mRNA resources on other infectious diseases and therapeutics with strong unmet need.</p><p><blockquote>这家法国集团表示，它将把其mRNA资源集中用于其他需求未得到满足的传染病和治疗方法。</blockquote></p><p> Baidu will receive milestone payments when any mRNA-based therapy or vaccine candidate discovered by Sanofi using its algorithm enters clinical trials, said Huang Liang, a Baidu scientist leading the project.</p><p><blockquote>领导该项目的百度科学家黄亮表示，当赛诺菲使用其算法发现的任何基于mRNA的疗法或候选疫苗进入临床试验时，百度将获得里程碑付款。</blockquote></p><p> \"The fact that this agreement includes milestone payments shows that [Sanofi] has great confidence in bringing candidates developed with Baidu algorithm into clinical trials and to the market,\" Huang told Reuters. He declined to disclose the size of the deal.</p><p><blockquote>“这项协议包括里程碑付款的事实表明，[赛诺菲]非常有信心将使用百度算法开发的候选药物带入临床试验并推向市场，”Huang告诉路透社。他拒绝透露交易规模。</blockquote></p><p> An mRNA-based vaccine contains mRNA sequence which instructs human cells to produce proteins that can spur the immune system into action.</p><p><blockquote>基于mRNA的疫苗含有mRNA序列，该序列指示人类细胞产生可以刺激免疫系统发挥作用的蛋白质。</blockquote></p><p> Baidu's algorithm is designed to deliver a larger number of optimised mRNA sequences and there are early signs that it could be more suitable than standard algorithms in vaccine and therapeutic drug development, Huang said.</p><p><blockquote>黄说，百度的算法旨在提供大量优化的mRNA序列，有早期迹象表明，它可能比标准算法更适合疫苗和治疗药物开发。</blockquote></p><p> Specifically regarding COVID-19 vaccine candidates, those containing mRNA sequences generated by Baidu's algorithm were more stable and appeared to require a smaller dosage than a baseline shot based on a standard algorithm, according to&nbsp;lab studies and animal tests, which haven't gone through peer-review.</p><p><blockquote>特别是关于COVID-19候选疫苗，根据尚未通过的实验室研究和动物测试，那些含有百度算法生成的mRNA序列的疫苗更稳定，并且似乎比基于标准算法的基线注射需要更小的剂量。同行评审。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/markets/europe/baidu-partnership-with-sanofi-use-its-algorithm-mrna-vaccine-therapy-development-2021-11-22/\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BIDU":"百度","SNYNF":"Sanofi","09888":"百度集团-SW"},"source_url":"https://www.reuters.com/markets/europe/baidu-partnership-with-sanofi-use-its-algorithm-mrna-vaccine-therapy-development-2021-11-22/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171692239","content_text":"BEIJING, Nov 22 (Reuters) - Chinese tech giant Baidu Inc(9888.HK)said on Monday it has licensed its algorithm for messenger RNA (mRNA) sequence to Sanofi SA for use in designing vaccine and therapeutic products, entering its first such commercial deal with a major global drugmaker.\nSanofi(SASY.PA)had been one of the world's biggest vaccine makers before the pandemic, but the French firm was beaten by rivals BioNTech /Pfizer(PFE.N)and Moderna(MRNA.O)in developing mRNA shots against COVID-19.read more\nSanofi stopped trials of its own mRNA COVID-19 shot in September, and is instead focusing on efforts with GlaxoSmithKline(GSK.L)to bring another COVID-19 vaccine candidate to market based on the more conventional protein-based approach.\nThe French groupsaidit would focus its mRNA resources on other infectious diseases and therapeutics with strong unmet need.\nBaidu will receive milestone payments when any mRNA-based therapy or vaccine candidate discovered by Sanofi using its algorithm enters clinical trials, said Huang Liang, a Baidu scientist leading the project.\n\"The fact that this agreement includes milestone payments shows that [Sanofi] has great confidence in bringing candidates developed with Baidu algorithm into clinical trials and to the market,\" Huang told Reuters. He declined to disclose the size of the deal.\nAn mRNA-based vaccine contains mRNA sequence which instructs human cells to produce proteins that can spur the immune system into action.\nBaidu's algorithm is designed to deliver a larger number of optimised mRNA sequences and there are early signs that it could be more suitable than standard algorithms in vaccine and therapeutic drug development, Huang said.\nSpecifically regarding COVID-19 vaccine candidates, those containing mRNA sequences generated by Baidu's algorithm were more stable and appeared to require a smaller dosage than a baseline shot based on a standard algorithm, according to lab studies and animal tests, which haven't gone through peer-review.","news_type":1,"symbols_score_info":{"BIDU":0.9,"SNYNF":0.9,"09888":0.9}},"isVote":1,"tweetType":1,"viewCount":1131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872122716,"gmtCreate":1637460808130,"gmtModify":1637460808304,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"I think needs combination of both solar and batteries? If solar can be more efficient, and battery storage more efficient, won't it be the best combination? 😀","listText":"I think needs combination of both solar and batteries? If solar can be more efficient, and battery storage more efficient, won't it be the best combination? 😀","text":"I think needs combination of both solar and batteries? If solar can be more efficient, and battery storage more efficient, won't it be the best combination? 😀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/872122716","repostId":"1193739210","repostType":4,"repost":{"id":"1193739210","kind":"news","pubTimestamp":1637457862,"share":"https://www.laohu8.com/m/news/1193739210?lang=zh_CN&edition=full","pubTime":"2021-11-21 09:24","market":"us","language":"en","title":"Does Sono Group Have a Breakthrough Innovation That Could Put “Range Anxiety” to Bed?<blockquote>索诺集团是否有突破性创新可以消除“里程焦虑”？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1193739210","media":"Investorplace","summary":"In a blink-and-you-miss-it moment this week, one of the most interestingelectric vehicle (EV) startu","content":"<p><div> In a blink-and-you-miss-it moment this week, one of the most interestingelectric vehicle (EV) startupsin the worldwent publicthrough a super successful initial public offering (IPO). That company is ...</p><p><blockquote><div>本周，世界上最有趣的电动汽车(EV)初创公司之一通过超级成功的首次公开募股(IPO)上市。那家公司是...</div></blockquote></p><p>  <a href=\"https://investorplace.com/hypergrowthinvesting/2021/11/does-sono-group-have-a-breakthrough-innovation-that-could-put-range-anxiety-to-bed/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/hypergrowthinvesting/2021/11/does-sono-group-have-a-breakthrough-innovation-that-could-put-range-anxiety-to-bed/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","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>Does Sono Group Have a Breakthrough Innovation That Could Put “Range Anxiety” to Bed?<blockquote>索诺集团是否有突破性创新可以消除“里程焦虑”？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDoes Sono Group Have a Breakthrough Innovation That Could Put “Range Anxiety” to Bed?<blockquote>索诺集团是否有突破性创新可以消除“里程焦虑”？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Investorplace</strong><span class=\"h-time small\">2021-11-21 09:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> In a blink-and-you-miss-it moment this week, one of the most interestingelectric vehicle (EV) startupsin the worldwent publicthrough a super successful initial public offering (IPO). That company is ...</p><p><blockquote><div>本周，世界上最有趣的电动汽车(EV)初创公司之一通过超级成功的首次公开募股(IPO)上市。那家公司是...</div></blockquote></p><p>  <a href=\"https://investorplace.com/hypergrowthinvesting/2021/11/does-sono-group-have-a-breakthrough-innovation-that-could-put-range-anxiety-to-bed/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/hypergrowthinvesting/2021/11/does-sono-group-have-a-breakthrough-innovation-that-could-put-range-anxiety-to-bed/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/hypergrowthinvesting/2021/11/does-sono-group-have-a-breakthrough-innovation-that-could-put-range-anxiety-to-bed/\">Investorplace</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SEV":"Aptera Motors"},"source_url":"https://investorplace.com/hypergrowthinvesting/2021/11/does-sono-group-have-a-breakthrough-innovation-that-could-put-range-anxiety-to-bed/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193739210","content_text":"In a blink-and-you-miss-it moment this week, one of the most interestingelectric vehicle (EV) startupsin the worldwent publicthrough a super successful initial public offering (IPO).\nThat company is the Germany-based Sono Group(NASDAQ:SEV) – a small EV company that’s unlike any other electric vehicle firm on the planet. This isn’t the next Tesla(NASDAQ:TSLA),nor is it the next Lucid Group(NASDAQ:LCID) or Rivian(NASDAQ:RIVN)… and that’s by design.\nBecause, while all those EV makers are making plug-in electric vehicles, Sono is making the world’s firstsolar electric vehicle, or “SEV.”\nSoaring 150%-plus from its $15 IPO price Wednesday, investors have sat up to take notice of this company that is helmed by a CEO barely out of university.\nIndeed, at age 26, Sono founder Laurin Hahn cuts a very different image than your typical CEO. Hahn’s an environmentalist and idealist at heart, which is why Sono’s goal isn’t just to sell cars, but to “implement an innovative CO2-neutral mobility concept.” Out of that vision comes the Sion– an understated, no-frills attempt at designing an effective solar EV for the masses.\nAnd unlike the glossy, leather-clad premium electric vehicles dominating most conversations around EVs, the Sion actually feels like a vehicle designed to put the world on the right path toward net-zero carbon emissions.\nTo ensure its vision aligned with the needs of everyday drivers, the company’s signature vehicle – the Sion – had its users in mind from the very beginning. Everything from the color and upholstery of the car to the voltage and resulting range of the battery was voted on by a community of 15,000.\nAs for its look, the Sion essentially replaces the exterior aluminum and paint on an electric car with 248 flexible solar modules that are perfectly adapted to the shape of the vehicle.\nThe car looks, drives, and acts just like any other mass-market EV. But as it drives, it charges itself through these solar cells. There’s a still a battery at the core of the vehicle, but it doesn’t rely on being plugged in – the battery can be recharged by simply leaving it out in the sun.\nThe huge value-add here, of course, is solving so-called EV “range anxiety,” or the fear that EVs won’t be able to drive you as far as you need to go.\nTo-date, such fears have proven very legitimate. After all, your typical EV today fetches around 250 miles of driving range. Your average gas car can travel up to 400 miles per tank. So, yes, EVs have historically been limiting in terms of how far they can travel.\nSono Motors believes that its solar EV tech will fix this issue. And while it is a very innovative solution that we find super interesting, there’s just one small issue:It doesn’t actually solve the “range anxiety” problem.\nSono’s claim is that its solar cells collectively add about 70 miles of driving range to its Sion EV, which has a built-in driving range of 190 miles. Add it up, and even with these solar panels, the Sion still gets less than 300 miles of real-time driving range – much less than the 400 miles a gas-powered car fetches per tank.\nBut solar technology is not static –it’s very dynamic. And right now, scientists across the globe are working on multiple solar technology breakthroughs to dramatically improve the performance of solar cells. One such promising breakthrough is the inclusion of perovskites in solar cells. Perovskites are a very flexible material, and therefore, could be included in Sono’s solar mobility tech to significantly improve the performance of these SEVs.\nIn other words, while solar electric vehicles are cool, the underlying solar cell technology here is still many years away from being robust enough to actually solve EV range anxiety fears.\nThat’s the bad news.\nThe good news, though, is that we don’t evenneedsolar electric vehicles to solve range anxiety…\nBecause there is another breakthrough battery technology being pioneered today, which is ready to add not just 70 or 80 miles of driving range to an EV – but potentially thousands of miles of driving range to an EV, thereby allowing electric cars to travel as much as 10X as far as gas-powered cars on a single charge.\nThese batteries are the future and will forever solve the EV “range anxiety” problem.\nIt’s simple, really… With them, EVs will last forever.\nThe technology behind these forever batteries is exceptionally complex – so complex, in fact, that no one has been able to make one big enough to power an electric car yet.\nBut that’s changing right now, as some companies in this space have – for the first time ever – built small-scale “forever batteries” that are working. Now, all these companies have to do is scale these batteries and make them bigger.\nMake no mistake. They’re going to do just that. And the companies behind this forever battery technology will turn into titans of the EV industry.\nNot to mention,their stocks will score shareholders enormous returns.","news_type":1,"symbols_score_info":{"SEV":0.9}},"isVote":1,"tweetType":1,"viewCount":1584,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":878026277,"gmtCreate":1637127212884,"gmtModify":1637127213543,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Though Rivian is cheaper, but the price surge in last week's seem a bit overdone. What would be a fair value to enter? Anyone?","listText":"Though Rivian is cheaper, but the price surge in last week's seem a bit overdone. What would be a fair value to enter? Anyone?","text":"Though Rivian is cheaper, but the price surge in last week's seem a bit overdone. What would be a fair value to enter? Anyone?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/878026277","repostId":"1142102958","repostType":4,"isVote":1,"tweetType":1,"viewCount":1203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":871210780,"gmtCreate":1637073472957,"gmtModify":1637073473636,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"What are they raising the $1B for?","listText":"What are they raising the $1B for?","text":"What are they raising the $1B for?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/871210780","repostId":"1101934965","repostType":4,"isVote":1,"tweetType":1,"viewCount":1190,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":879412430,"gmtCreate":1636763103182,"gmtModify":1636769307087,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"NVDA is not the only stock in this situation - high future earnings multiple.","listText":"NVDA is not the only stock in this situation - high future earnings multiple.","text":"NVDA is not the only stock in this situation - high future earnings multiple.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/879412430","repostId":"1166434417","repostType":4,"repost":{"id":"1166434417","kind":"news","pubTimestamp":1636760104,"share":"https://www.laohu8.com/m/news/1166434417?lang=zh_CN&edition=full","pubTime":"2021-11-13 07:35","market":"us","language":"en","title":"Nvidia Stock Is Downgraded. What Does Wedbush See That Others Don't?<blockquote>英伟达股票评级被下调。韦德布什看到了什么别人看不到的？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166434417","media":"Barrons","summary":"Nvidia was downgraded Friday by Wedbush Securities, though the broker and investment bank raised its","content":"<p>Nvidia&nbsp;was downgraded Friday by Wedbush Securities, though the broker and investment bank raised its price target for the stock and remains upbeat on the company.</p><p><blockquote>韦德布什证券周五下调了英伟达的评级，尽管该经纪商和投资银行提高了该股的目标价，并对该公司保持乐观。</blockquote></p><p> So, why the downgrade?</p><p><blockquote>那么，为什么要降级呢？</blockquote></p><p> It’s a problem of valuation, according to Wedbush analyst Matt Bryson, who downgraded&nbsp;Nvidia&nbsp;(ticker: NVDA) from Outperform to Neutral even as he raised his target price on the shares from $220 to $300. Nvidia stock closed at $303.90 Thursday.</p><p><blockquote>Wedbush分析师马特·布赖森(Matt Bryson)表示，这是一个估值问题，他将英伟达（股票代码：NVDA）的评级从跑赢大盘下调至中性，尽管他将该股目标价从220美元上调至300美元。英伟达股价周四收于303.90美元。</blockquote></p><p> “While typically we would want to tie a rating change to some sort of negative catalyst; frankly there is none. Conditions rather have only improved for Nvidia over the past three months,” Bryson said.</p><p><blockquote>布赖森表示：“虽然通常我们希望将评级变化与某种负面催化剂联系起来，但坦率地说，没有任何负面催化剂。英伟达的情况在过去三个月里才有所改善。”</blockquote></p><p> “We just can’t find a means of justifying a higher target price for Nvidia beyond the levels that it currently trades.”</p><p><blockquote>“我们只是找不到一种方法来证明英伟达的目标价高于其目前的交易水平是合理的。”</blockquote></p><p> The downgrade from Wedbush may have clouded investor sentiment on Nvidia, which saw its shares fall as much as 2.5% before paring losses to move 0.2% higher Friday. The stock has surged 47% in the past month alone and is up more than 130% in 2021. The company recently pushed past&nbsp;Warren Buffett’s Berkshire Hathaway&nbsp;(BRK.A and BRK.B) as the seventh most valuable U.S. company by market capitalization.</p><p><blockquote>Wedbush的评级下调可能给投资者对Nvidia的情绪蒙上阴影，该公司股价下跌2.5%，周五收复失地上涨0.2%。该股仅在过去一个月就飙升了47%，2021年涨幅超过130%。该公司最近超越沃伦·巴菲特的伯克希尔·哈撒韦公司（BRK.A和BRK.B），成为美国市值第七大公司。</blockquote></p><p> Earlier this week, Nvidia got a boost from a number of upwards-revised estimates, with investment bank&nbsp;Oppenheimer&nbsp;hiking its target price on Nvidia stock by 49% to $350.</p><p><blockquote>本周早些时候，英伟达因多项上调预期而受到提振，投资银行奥本海默将英伟达股票目标价上调49%至350美元。</blockquote></p><p> Bryson’s logic doesn’t yield the same level of bullishness on the share price.</p><p><blockquote>布赖森的逻辑并没有对股价产生同样程度的看涨。</blockquote></p><p> Wedbush has been using a multiple of 40x applied to Nvidia’s estimated future earnings to calculate a target price for the stock. But the shares have surged 50% since the company’s last earnings call, Bryson said, and were now trading at a multiple of around 55x Wedbush’s 2024 estimates.</p><p><blockquote>Wedbush一直使用Nvidia预计未来收益的40倍倍数来计算该股的目标价。但Bryson表示，自该公司上次盈利看涨期权以来，该股已飙升50%，目前交易价格约为Wedbush 2024年预期的55倍。</blockquote></p><p> This means that the analysts would have to lift their multiple to around 67x to justify an Outperform rating, or, alternatively, double their sales growth assumptions for the next few years to continue to use a 40x multiple.</p><p><blockquote>这意味着分析师必须将市盈率提高到67倍左右才能证明跑赢大盘评级的合理性，或者将未来几年的销售增长假设翻倍才能继续使用40倍的市盈率。</blockquote></p><p> “While we remain very bullish on both Nvidia’s near-term prospects and longer-term opportunities (particularly around AI), we simply find ourselves unable to justify lifting our multiple to levels that would continue to justify an Outperform,” Bryson said. “We are stepping to the sidelines on Nvidia with our new Neutral rating.”</p><p><blockquote>布赖森表示：“虽然我们仍然非常看好英伟达的近期前景和长期机会（特别是在人工智能方面），但我们只是发现自己无法证明将市盈率提高到继续证明跑赢大盘合理的水平是合理的。”“我们对英伟达的新中性评级持观望态度。”</blockquote></p><p> Nvidia—which will report earnings next Wednesday—is primarily a maker of graphics processing units (GPUs), which were originally designed for applications in gaming and film. Increasingly, GPUs are used in high-performance computing applications, such as running data centers and powering artificial intelligence (AI).</p><p><blockquote>英伟达将于下周三公布财报，主要是一家图形处理单元(GPU)制造商，这些处理器最初是为游戏和电影应用而设计的。GPU越来越多地用于高性能计算应用，例如运行数据中心和为人工智能（AI）提供动力。</blockquote></p><p> Bryson said that “unprecedented demand” for data center and client offerings meant Nvidia was likely to beat Wall Street’s expectations when it reports earnings and would probably raise its future guidance. The analysts added that the company’s continued work in building out its AI framework has helped cement its leadership in the space.</p><p><blockquote>布赖森表示，对数据中心和客户端产品的“前所未有的需求”意味着英伟达在公布财报时可能会超出华尔街的预期，并可能提高未来指引。分析师补充说，该公司在构建人工智能框架方面的持续工作有助于巩固其在该领域的领导地位。</blockquote></p><p> The Santa Clara, Calif.-based company has also recently made a competitive push into the metaverse, launching platforms, software, and computing tools that will help enable the future of virtual worlds.</p><p><blockquote>这家总部位于加州圣塔克拉拉的公司最近也向元宇宙发起了竞争，推出了有助于实现虚拟世界未来的平台、软件和计算工具。</blockquote></p><p> The metaverse, as well as the use of Nvidia chips in electric vehicles and self-driving vehicles, adds to a more ambitious view of the company’s future total addressable market, Bryson said.</p><p><blockquote>布赖森表示，元宇宙以及英伟达芯片在电动汽车和自动驾驶汽车中的使用，为该公司未来的总潜在市场增添了更加雄心勃勃的前景。</blockquote></p><p> “New opportunities, in particular the metaverse and its graphics intensive requirements, have started to realize increased investment, a sign in our view that applications and datacenter/consumer hardware requirements are nearing,” the analyst added.</p><p><blockquote>该分析师补充道：“新的机遇，特别是元宇宙及其图形密集型需求，已经开始实现投资的增加，我们认为这表明应用程序和数据中心/消费者硬件需求即将到来。”</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia Stock Is Downgraded. What Does Wedbush See That Others Don't?<blockquote>英伟达股票评级被下调。韦德布什看到了什么别人看不到的？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia Stock Is Downgraded. What Does Wedbush See That Others Don't?<blockquote>英伟达股票评级被下调。韦德布什看到了什么别人看不到的？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-13 07:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Nvidia&nbsp;was downgraded Friday by Wedbush Securities, though the broker and investment bank raised its price target for the stock and remains upbeat on the company.</p><p><blockquote>韦德布什证券周五下调了英伟达的评级，尽管该经纪商和投资银行提高了该股的目标价，并对该公司保持乐观。</blockquote></p><p> So, why the downgrade?</p><p><blockquote>那么，为什么要降级呢？</blockquote></p><p> It’s a problem of valuation, according to Wedbush analyst Matt Bryson, who downgraded&nbsp;Nvidia&nbsp;(ticker: NVDA) from Outperform to Neutral even as he raised his target price on the shares from $220 to $300. Nvidia stock closed at $303.90 Thursday.</p><p><blockquote>Wedbush分析师马特·布赖森(Matt Bryson)表示，这是一个估值问题，他将英伟达（股票代码：NVDA）的评级从跑赢大盘下调至中性，尽管他将该股目标价从220美元上调至300美元。英伟达股价周四收于303.90美元。</blockquote></p><p> “While typically we would want to tie a rating change to some sort of negative catalyst; frankly there is none. Conditions rather have only improved for Nvidia over the past three months,” Bryson said.</p><p><blockquote>布赖森表示：“虽然通常我们希望将评级变化与某种负面催化剂联系起来，但坦率地说，没有任何负面催化剂。英伟达的情况在过去三个月里才有所改善。”</blockquote></p><p> “We just can’t find a means of justifying a higher target price for Nvidia beyond the levels that it currently trades.”</p><p><blockquote>“我们只是找不到一种方法来证明英伟达的目标价高于其目前的交易水平是合理的。”</blockquote></p><p> The downgrade from Wedbush may have clouded investor sentiment on Nvidia, which saw its shares fall as much as 2.5% before paring losses to move 0.2% higher Friday. The stock has surged 47% in the past month alone and is up more than 130% in 2021. The company recently pushed past&nbsp;Warren Buffett’s Berkshire Hathaway&nbsp;(BRK.A and BRK.B) as the seventh most valuable U.S. company by market capitalization.</p><p><blockquote>Wedbush的评级下调可能给投资者对Nvidia的情绪蒙上阴影，该公司股价下跌2.5%，周五收复失地上涨0.2%。该股仅在过去一个月就飙升了47%，2021年涨幅超过130%。该公司最近超越沃伦·巴菲特的伯克希尔·哈撒韦公司（BRK.A和BRK.B），成为美国市值第七大公司。</blockquote></p><p> Earlier this week, Nvidia got a boost from a number of upwards-revised estimates, with investment bank&nbsp;Oppenheimer&nbsp;hiking its target price on Nvidia stock by 49% to $350.</p><p><blockquote>本周早些时候，英伟达因多项上调预期而受到提振，投资银行奥本海默将英伟达股票目标价上调49%至350美元。</blockquote></p><p> Bryson’s logic doesn’t yield the same level of bullishness on the share price.</p><p><blockquote>布赖森的逻辑并没有对股价产生同样程度的看涨。</blockquote></p><p> Wedbush has been using a multiple of 40x applied to Nvidia’s estimated future earnings to calculate a target price for the stock. But the shares have surged 50% since the company’s last earnings call, Bryson said, and were now trading at a multiple of around 55x Wedbush’s 2024 estimates.</p><p><blockquote>Wedbush一直使用Nvidia预计未来收益的40倍倍数来计算该股的目标价。但Bryson表示，自该公司上次盈利看涨期权以来，该股已飙升50%，目前交易价格约为Wedbush 2024年预期的55倍。</blockquote></p><p> This means that the analysts would have to lift their multiple to around 67x to justify an Outperform rating, or, alternatively, double their sales growth assumptions for the next few years to continue to use a 40x multiple.</p><p><blockquote>这意味着分析师必须将市盈率提高到67倍左右才能证明跑赢大盘评级的合理性，或者将未来几年的销售增长假设翻倍才能继续使用40倍的市盈率。</blockquote></p><p> “While we remain very bullish on both Nvidia’s near-term prospects and longer-term opportunities (particularly around AI), we simply find ourselves unable to justify lifting our multiple to levels that would continue to justify an Outperform,” Bryson said. “We are stepping to the sidelines on Nvidia with our new Neutral rating.”</p><p><blockquote>布赖森表示：“虽然我们仍然非常看好英伟达的近期前景和长期机会（特别是在人工智能方面），但我们只是发现自己无法证明将市盈率提高到继续证明跑赢大盘合理的水平是合理的。”“我们对英伟达的新中性评级持观望态度。”</blockquote></p><p> Nvidia—which will report earnings next Wednesday—is primarily a maker of graphics processing units (GPUs), which were originally designed for applications in gaming and film. Increasingly, GPUs are used in high-performance computing applications, such as running data centers and powering artificial intelligence (AI).</p><p><blockquote>英伟达将于下周三公布财报，主要是一家图形处理单元(GPU)制造商，这些处理器最初是为游戏和电影应用而设计的。GPU越来越多地用于高性能计算应用，例如运行数据中心和为人工智能（AI）提供动力。</blockquote></p><p> Bryson said that “unprecedented demand” for data center and client offerings meant Nvidia was likely to beat Wall Street’s expectations when it reports earnings and would probably raise its future guidance. The analysts added that the company’s continued work in building out its AI framework has helped cement its leadership in the space.</p><p><blockquote>布赖森表示，对数据中心和客户端产品的“前所未有的需求”意味着英伟达在公布财报时可能会超出华尔街的预期，并可能提高未来指引。分析师补充说，该公司在构建人工智能框架方面的持续工作有助于巩固其在该领域的领导地位。</blockquote></p><p> The Santa Clara, Calif.-based company has also recently made a competitive push into the metaverse, launching platforms, software, and computing tools that will help enable the future of virtual worlds.</p><p><blockquote>这家总部位于加州圣塔克拉拉的公司最近也向元宇宙发起了竞争，推出了有助于实现虚拟世界未来的平台、软件和计算工具。</blockquote></p><p> The metaverse, as well as the use of Nvidia chips in electric vehicles and self-driving vehicles, adds to a more ambitious view of the company’s future total addressable market, Bryson said.</p><p><blockquote>布赖森表示，元宇宙以及英伟达芯片在电动汽车和自动驾驶汽车中的使用，为该公司未来的总潜在市场增添了更加雄心勃勃的前景。</blockquote></p><p> “New opportunities, in particular the metaverse and its graphics intensive requirements, have started to realize increased investment, a sign in our view that applications and datacenter/consumer hardware requirements are nearing,” the analyst added.</p><p><blockquote>该分析师补充道：“新的机遇，特别是元宇宙及其图形密集型需求，已经开始实现投资的增加，我们认为这表明应用程序和数据中心/消费者硬件需求即将到来。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/nvidia-stock-downgrade-metaverse-51636725065?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.barrons.com/articles/nvidia-stock-downgrade-metaverse-51636725065?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166434417","content_text":"Nvidia was downgraded Friday by Wedbush Securities, though the broker and investment bank raised its price target for the stock and remains upbeat on the company.\nSo, why the downgrade?\nIt’s a problem of valuation, according to Wedbush analyst Matt Bryson, who downgraded Nvidia (ticker: NVDA) from Outperform to Neutral even as he raised his target price on the shares from $220 to $300. Nvidia stock closed at $303.90 Thursday.\n“While typically we would want to tie a rating change to some sort of negative catalyst; frankly there is none. Conditions rather have only improved for Nvidia over the past three months,” Bryson said.\n“We just can’t find a means of justifying a higher target price for Nvidia beyond the levels that it currently trades.”\nThe downgrade from Wedbush may have clouded investor sentiment on Nvidia, which saw its shares fall as much as 2.5% before paring losses to move 0.2% higher Friday. The stock has surged 47% in the past month alone and is up more than 130% in 2021. The company recently pushed past Warren Buffett’s Berkshire Hathaway (BRK.A and BRK.B) as the seventh most valuable U.S. company by market capitalization.\nEarlier this week, Nvidia got a boost from a number of upwards-revised estimates, with investment bank Oppenheimer hiking its target price on Nvidia stock by 49% to $350.\nBryson’s logic doesn’t yield the same level of bullishness on the share price.\nWedbush has been using a multiple of 40x applied to Nvidia’s estimated future earnings to calculate a target price for the stock. But the shares have surged 50% since the company’s last earnings call, Bryson said, and were now trading at a multiple of around 55x Wedbush’s 2024 estimates.\nThis means that the analysts would have to lift their multiple to around 67x to justify an Outperform rating, or, alternatively, double their sales growth assumptions for the next few years to continue to use a 40x multiple.\n“While we remain very bullish on both Nvidia’s near-term prospects and longer-term opportunities (particularly around AI), we simply find ourselves unable to justify lifting our multiple to levels that would continue to justify an Outperform,” Bryson said. “We are stepping to the sidelines on Nvidia with our new Neutral rating.”\nNvidia—which will report earnings next Wednesday—is primarily a maker of graphics processing units (GPUs), which were originally designed for applications in gaming and film. Increasingly, GPUs are used in high-performance computing applications, such as running data centers and powering artificial intelligence (AI).\nBryson said that “unprecedented demand” for data center and client offerings meant Nvidia was likely to beat Wall Street’s expectations when it reports earnings and would probably raise its future guidance. The analysts added that the company’s continued work in building out its AI framework has helped cement its leadership in the space.\nThe Santa Clara, Calif.-based company has also recently made a competitive push into the metaverse, launching platforms, software, and computing tools that will help enable the future of virtual worlds.\nThe metaverse, as well as the use of Nvidia chips in electric vehicles and self-driving vehicles, adds to a more ambitious view of the company’s future total addressable market, Bryson said.\n“New opportunities, in particular the metaverse and its graphics intensive requirements, have started to realize increased investment, a sign in our view that applications and datacenter/consumer hardware requirements are nearing,” the analyst added.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":844952154,"gmtCreate":1636384588704,"gmtModify":1636384589283,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Unexpected.&nbsp; It dipped not you long ago","listText":"Unexpected.&nbsp; It dipped not you long ago","text":"Unexpected. It dipped not you long ago","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/844952154","repostId":"1113652036","repostType":4,"repost":{"id":"1113652036","kind":"news","pubTimestamp":1636382778,"share":"https://www.laohu8.com/m/news/1113652036?lang=zh_CN&edition=full","pubTime":"2021-11-08 22:46","market":"us","language":"en","title":"Why The Trade Desk Shares Are Surging Today<blockquote>为什么The Trade Desk股价今天飙升</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1113652036","media":"Benzinga","summary":"The Trade Desk Inc is trading higher Monday after the company announced better-than-expected third-q","content":"<p><div> The Trade Desk Inc is trading higher Monday after the company announced better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates. The Trade Desk reported...</p><p><blockquote><div>The Trade Desk Inc公布好于预期的第三季度财务业绩并发布高于预期的第四季度指引后，该公司周一股价走高。The Trade Desk报道...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/earnings/21/11/23953100/why-the-trade-desk-shares-are-surging-today\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/earnings/21/11/23953100/why-the-trade-desk-shares-are-surging-today\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why The Trade Desk Shares Are Surging Today<blockquote>为什么The Trade Desk股价今天飙升</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy The Trade Desk Shares Are Surging Today<blockquote>为什么The Trade Desk股价今天飙升</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-11-08 22:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The Trade Desk Inc is trading higher Monday after the company announced better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates. The Trade Desk reported...</p><p><blockquote><div>The Trade Desk Inc公布好于预期的第三季度财务业绩并发布高于预期的第四季度指引后，该公司周一股价走高。The Trade Desk报道...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/earnings/21/11/23953100/why-the-trade-desk-shares-are-surging-today\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/earnings/21/11/23953100/why-the-trade-desk-shares-are-surging-today\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/earnings/21/11/23953100/why-the-trade-desk-shares-are-surging-today\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TTD":"Trade Desk Inc."},"source_url":"https://www.benzinga.com/news/earnings/21/11/23953100/why-the-trade-desk-shares-are-surging-today","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113652036","content_text":"The Trade Desk Inc is trading higher Monday after the company announced better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates.\nThe Trade Desk reported quarterly earnings of 18 cents per share, which beat the estimate of 15 cents per share. The company reported quarterly revenue of $301.1 million, which beat the estimate of $283.52 million.\nThe Trade Desk expects fourth-quarter revenue to be at least $388 million versus the estimate of $386.73 million.\n“We again delivered outstanding performance in the third quarter. Revenue growth of 39% significantly outpaced worldwide programmatic advertising growth. The world’s leading brands and agencies are increasingly using our platform to apply data-driven strategies to drive precision and value across their campaigns,” said Jeff Green, founder and CEO of The Trade Desk.\nThe Trade Desk is engaged in providing a technology platform for ad buyers.\nThe stock was up 22.10% at $83.73 at time of publication.","news_type":1,"symbols_score_info":{"TTD":0.9}},"isVote":1,"tweetType":1,"viewCount":954,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":842571371,"gmtCreate":1636209154513,"gmtModify":1636209155127,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Steady company. Always a good buy and hold.","listText":"Steady company. Always a good buy and hold.","text":"Steady company. Always a good buy and hold.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/842571371","repostId":"2181374735","repostType":2,"isVote":1,"tweetType":1,"viewCount":1328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848078619,"gmtCreate":1635950667587,"gmtModify":1635950792196,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Nice list of stocks. But I must say highly volatile too. Must have a strong stomach!&nbsp;","listText":"Nice list of stocks. But I must say highly volatile too. Must have a strong stomach!&nbsp;","text":"Nice list of stocks. But I must say highly volatile too. Must have a strong stomach!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/848078619","repostId":"1158762879","repostType":4,"isVote":1,"tweetType":1,"viewCount":1146,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"9000000000000714","authorId":"9000000000000714","name":"AmosBellamy","avatar":"https://static.tigerbbs.com/7fcd65df1e45ff9cb6ba8ac8453bd492","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"9000000000000714","idStr":"9000000000000714"},"content":"What are your selections between them? Very curious ..","text":"What are your selections between them? Very curious ..","html":"What are your selections between them? Very curious .."}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841609312,"gmtCreate":1635904155204,"gmtModify":1635904155406,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Some consistency is good. I think the market will like it.","listText":"Some consistency is good. I think the market will like it.","text":"Some consistency is good. I think the market will like it.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841609312","repostId":"2180365917","repostType":4,"isVote":1,"tweetType":1,"viewCount":1573,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":884299252,"gmtCreate":1631891127576,"gmtModify":1632805520609,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Agree. I think Ford will be a winner.","listText":"Agree. I think Ford will be a winner.","text":"Agree. I think Ford will be a winner.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/884299252","repostId":"2168788835","repostType":4,"isVote":1,"tweetType":1,"viewCount":489,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156782409,"gmtCreate":1625236944401,"gmtModify":1633942182942,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"The winner is the cloud providers. As a long term strategy, I think it is still better for Apple to build and own their cloud.","listText":"The winner is the cloud providers. As a long term strategy, I think it is still better for Apple to build and own their cloud.","text":"The winner is the cloud providers. As a long term strategy, I think it is still better for Apple to build and own their cloud.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/156782409","repostId":"2148803897","repostType":4,"isVote":1,"tweetType":1,"viewCount":1056,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158346832,"gmtCreate":1625132187226,"gmtModify":1633944446576,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"It is proof that we need to stick to our guns when we believe in something.","listText":"It is proof that we need to stick to our guns when we believe in something.","text":"It is proof that we need to stick to our guns when we believe in something.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/158346832","repostId":"1190114481","repostType":4,"repost":{"id":"1190114481","kind":"news","pubTimestamp":1625131868,"share":"https://www.laohu8.com/m/news/1190114481?lang=zh_CN&edition=full","pubTime":"2021-07-01 17:31","market":"us","language":"en","title":"ARK Innovation Is Coming Back Strongly. Here’s a Trade to Exploit It.<blockquote>方舟创新强势回归。这里有一个利用它的交易。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190114481","media":"Barrons","summary":"Cathie Wood, ARK Invest\nIt is time once more to consider getting on board Cathie Wood’s ARK Innovati","content":"<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d1a0419512750dfca0641b7307fd75d6\" tg-width=\"1260\" tg-height=\"840\"><span>Cathie Wood, ARK Invest</span></p><p><blockquote><p class=\"t-img-caption\"><span>凯西·伍德，方舟投资公司</span></p></blockquote></p><p> It is time once more to consider getting on board Cathie Wood’s ARK Innovation exchange-traded fund.</p><p><blockquote>是时候再次考虑加入Cathie Wood的ARK Innovation交易所交易基金了。</blockquote></p><p> ARK Innovation (ticker: ARKK), which owns many of the stock market’s most controversial and most intriguing companies, seems to be on the cusp of entering a higher trading range after a month of troubles.</p><p><blockquote>方舟创新（股票代码：ARKK）拥有许多股市上最具争议和最有趣的公司，在经历了一个月的麻烦后，似乎即将进入更高的交易区间。</blockquote></p><p> The Innovation ETF is hovering around $130, a level that has often proved to be difficult for the fund to stay above for long. But the recent rotation back into technology—and away from value stocks that benefited from the seeming end of the pandemic—could give the ETF a push higher.</p><p><blockquote>创新ETF徘徊在130美元左右，事实证明，该基金很难长期保持在这一水平之上。但最近重新转向科技股——远离受益于疫情似乎结束的价值股——可能会推动ETF走高。</blockquote></p><p> Aggressive investors who want to wager on the potential breakout can consider an options strategy that pays them for agreeing to buy the fund at a lower price, while letting them participate in future gains.</p><p><blockquote>想要押注潜在突破的激进投资者可以考虑期权策略，通过同意以较低价格购买基金来支付他们的费用，同时让他们参与未来的收益。</blockquote></p><p> When the Innovation ETF was trading around $130, the September $129 put could be sold for about $9 and the September $132 call could be bought for about $7.70. The risk reversal—that is, selling a put and buying a call with a higher strike price but with the same expiration—essentially pays investors $1.30 for agreeing to buy the fund at $129 and to participate in advances above $132.</p><p><blockquote>当创新ETF的交易价格约为130美元时，9月份129美元的看跌期权可以以约9美元的价格出售，9月份132美元的看涨期权可以以约7.70美元的价格购买。风险逆转——即卖出看跌期权并买入执行价格更高但到期日相同的看涨期权——本质上是向同意以129美元购买基金并参与132美元以上预付款的投资者支付1.30美元。</blockquote></p><p> If the fund is at $150 at expiration, the call is worth $28. Should the ARK Innovation ETF be at $129 or lower at the September expiration, investors are obligated to buy the fund at $129 even if the fund is trading sharply lower.</p><p><blockquote>如果基金到期时价格为150美元，则看涨期权价值28美元。如果ARK Innovation ETF在9月份到期时价格为129美元或更低，即使该基金的交易价格大幅下跌，投资者也有义务以129美元的价格购买该基金。</blockquote></p><p> To avoid buying the fund on a decline, investors could adjust the put in the options market and move it to a different expiration. Of course, if the fund advances, and is above the put strike at expiration, investors can keep the put premium.</p><p><blockquote>为了避免在下跌时购买基金，投资者可以调整期权市场的看跌期权并将其移至不同的到期日。当然，如果基金提前，并且到期时高于看跌期权执行权，投资者可以保留看跌期权溢价。</blockquote></p><p> During the past 52 weeks, ARK Innovation has ranged from $69.18 to $159.70.</p><p><blockquote>在过去52周内，ARK Innovation的价格从69.18美元到159.70美元不等。</blockquote></p><p> The risk-reversal strategy represents the evolution of a mid-May suggestion for investors to consider selling puts on the Innovation ETF when it seemed the fund was facing real trouble.</p><p><blockquote>风险逆转策略代表了5月中旬建议投资者考虑出售创新ETF看跌期权的演变，当时该基金似乎面临真正的麻烦。</blockquote></p><p> At the time, many of the fund’s holdings were weak and out of favor as investors were abandoning growth stocks that were defensive holdings during the pandemic, while buying value stocks that would benefit from the reopening of the economy.</p><p><blockquote>当时，该基金的许多持股疲软且失宠，因为投资者正在放弃在疫情期间持有的防御性成长型股票，而买入将受益于经济重新开放的价值型股票。</blockquote></p><p> It seemed that many investors and market pundits were happy to see Wood struggle after the fund rose 153% in 2020. But we recommended that investors look past the difficulties and wager that Wood would prevail.</p><p><blockquote>在该基金2020年上涨153%后，许多投资者和市场专家似乎很高兴看到伍德陷入困境。但我们建议投资者忽略困难，押注伍德会获胜。</blockquote></p><p> Rather than wilting under the pressure, she made a surprising and gutsy move. Wood took advantage of the weakness and essentially bought more stock as prices declined. The fund owns many stocks with extraordinary potential and often even more extraordinary valuations. The fund is closely associated with&nbsp;Tesla(TLSA), its top holding, but the portfolio includes other companies that are also trying to reshape the world with technology, including&nbsp;Teladoc Health(TDOC), Square (SQ),Zoom Video Communications(ZOOM), and Spotify Technology (SPOT).</p><p><blockquote>她没有在压力下萎靡不振，而是做出了令人惊讶的勇敢举动。伍德利用这一弱点，随着价格下跌，基本上购买了更多股票。该基金拥有许多具有非凡潜力且估值往往更非凡的股票。该基金与其最大持股特斯拉(TLSA)关系密切，但该投资组合还包括其他也试图用技术重塑世界的公司，包括Teladoc Health(TDOC)、Square(SQ)、Zoom Video通信(ZOOM)和Spotify Technology(SPOT)。</blockquote></p><p> The June $85 put that we suggested investors consider selling at $2.30 when the stock was around $102 just expired worthless. The Innovation ETF, meanwhile, just traded at its highest level in two months. Since mid-May, ARK Innovation has gained about 35%—and the fund could be on the cusp of a bullish breakout.</p><p><blockquote>我们建议投资者在股价约为102美元时考虑以2.30美元出售的6月份85美元看跌期权刚刚到期，一文不值。与此同时，创新ETF的交易价格刚刚达到两个月来的最高水平。自5月中旬以来，ARK Innovation已上涨约35%，该基金可能正处于看涨突破的风口浪尖。</blockquote></p><p> The fund traded above $130 from early January until March, only to come under bearish pressures during the recent rotation. The suggested risk-reversal strategy expresses a view that the Innovation ETF will trade above $130 into the fall, moving beyond a price that has often marked upside resistance.</p><p><blockquote>从1月初到3月，该基金的交易价格高于130美元，但在最近的轮换中却面临看跌压力。建议的风险逆转策略表达了这样一种观点，即创新ETF的交易价格将在130美元以上进入秋季，突破通常标志着上行阻力的价格。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ARK Innovation Is Coming Back Strongly. Here’s a Trade to Exploit It.<blockquote>方舟创新强势回归。这里有一个利用它的交易。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nARK Innovation Is Coming Back Strongly. Here’s a Trade to Exploit It.<blockquote>方舟创新强势回归。这里有一个利用它的交易。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-01 17:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d1a0419512750dfca0641b7307fd75d6\" tg-width=\"1260\" tg-height=\"840\"><span>Cathie Wood, ARK Invest</span></p><p><blockquote><p class=\"t-img-caption\"><span>凯西·伍德，方舟投资公司</span></p></blockquote></p><p> It is time once more to consider getting on board Cathie Wood’s ARK Innovation exchange-traded fund.</p><p><blockquote>是时候再次考虑加入Cathie Wood的ARK Innovation交易所交易基金了。</blockquote></p><p> ARK Innovation (ticker: ARKK), which owns many of the stock market’s most controversial and most intriguing companies, seems to be on the cusp of entering a higher trading range after a month of troubles.</p><p><blockquote>方舟创新（股票代码：ARKK）拥有许多股市上最具争议和最有趣的公司，在经历了一个月的麻烦后，似乎即将进入更高的交易区间。</blockquote></p><p> The Innovation ETF is hovering around $130, a level that has often proved to be difficult for the fund to stay above for long. But the recent rotation back into technology—and away from value stocks that benefited from the seeming end of the pandemic—could give the ETF a push higher.</p><p><blockquote>创新ETF徘徊在130美元左右，事实证明，该基金很难长期保持在这一水平之上。但最近重新转向科技股——远离受益于疫情似乎结束的价值股——可能会推动ETF走高。</blockquote></p><p> Aggressive investors who want to wager on the potential breakout can consider an options strategy that pays them for agreeing to buy the fund at a lower price, while letting them participate in future gains.</p><p><blockquote>想要押注潜在突破的激进投资者可以考虑期权策略，通过同意以较低价格购买基金来支付他们的费用，同时让他们参与未来的收益。</blockquote></p><p> When the Innovation ETF was trading around $130, the September $129 put could be sold for about $9 and the September $132 call could be bought for about $7.70. The risk reversal—that is, selling a put and buying a call with a higher strike price but with the same expiration—essentially pays investors $1.30 for agreeing to buy the fund at $129 and to participate in advances above $132.</p><p><blockquote>当创新ETF的交易价格约为130美元时，9月份129美元的看跌期权可以以约9美元的价格出售，9月份132美元的看涨期权可以以约7.70美元的价格购买。风险逆转——即卖出看跌期权并买入执行价格更高但到期日相同的看涨期权——本质上是向同意以129美元购买基金并参与132美元以上预付款的投资者支付1.30美元。</blockquote></p><p> If the fund is at $150 at expiration, the call is worth $28. Should the ARK Innovation ETF be at $129 or lower at the September expiration, investors are obligated to buy the fund at $129 even if the fund is trading sharply lower.</p><p><blockquote>如果基金到期时价格为150美元，则看涨期权价值28美元。如果ARK Innovation ETF在9月份到期时价格为129美元或更低，即使该基金的交易价格大幅下跌，投资者也有义务以129美元的价格购买该基金。</blockquote></p><p> To avoid buying the fund on a decline, investors could adjust the put in the options market and move it to a different expiration. Of course, if the fund advances, and is above the put strike at expiration, investors can keep the put premium.</p><p><blockquote>为了避免在下跌时购买基金，投资者可以调整期权市场的看跌期权并将其移至不同的到期日。当然，如果基金提前，并且到期时高于看跌期权执行权，投资者可以保留看跌期权溢价。</blockquote></p><p> During the past 52 weeks, ARK Innovation has ranged from $69.18 to $159.70.</p><p><blockquote>在过去52周内，ARK Innovation的价格从69.18美元到159.70美元不等。</blockquote></p><p> The risk-reversal strategy represents the evolution of a mid-May suggestion for investors to consider selling puts on the Innovation ETF when it seemed the fund was facing real trouble.</p><p><blockquote>风险逆转策略代表了5月中旬建议投资者考虑出售创新ETF看跌期权的演变，当时该基金似乎面临真正的麻烦。</blockquote></p><p> At the time, many of the fund’s holdings were weak and out of favor as investors were abandoning growth stocks that were defensive holdings during the pandemic, while buying value stocks that would benefit from the reopening of the economy.</p><p><blockquote>当时，该基金的许多持股疲软且失宠，因为投资者正在放弃在疫情期间持有的防御性成长型股票，而买入将受益于经济重新开放的价值型股票。</blockquote></p><p> It seemed that many investors and market pundits were happy to see Wood struggle after the fund rose 153% in 2020. But we recommended that investors look past the difficulties and wager that Wood would prevail.</p><p><blockquote>在该基金2020年上涨153%后，许多投资者和市场专家似乎很高兴看到伍德陷入困境。但我们建议投资者忽略困难，押注伍德会获胜。</blockquote></p><p> Rather than wilting under the pressure, she made a surprising and gutsy move. Wood took advantage of the weakness and essentially bought more stock as prices declined. The fund owns many stocks with extraordinary potential and often even more extraordinary valuations. The fund is closely associated with&nbsp;Tesla(TLSA), its top holding, but the portfolio includes other companies that are also trying to reshape the world with technology, including&nbsp;Teladoc Health(TDOC), Square (SQ),Zoom Video Communications(ZOOM), and Spotify Technology (SPOT).</p><p><blockquote>她没有在压力下萎靡不振，而是做出了令人惊讶的勇敢举动。伍德利用这一弱点，随着价格下跌，基本上购买了更多股票。该基金拥有许多具有非凡潜力且估值往往更非凡的股票。该基金与其最大持股特斯拉(TLSA)关系密切，但该投资组合还包括其他也试图用技术重塑世界的公司，包括Teladoc Health(TDOC)、Square(SQ)、Zoom Video通信(ZOOM)和Spotify Technology(SPOT)。</blockquote></p><p> The June $85 put that we suggested investors consider selling at $2.30 when the stock was around $102 just expired worthless. The Innovation ETF, meanwhile, just traded at its highest level in two months. Since mid-May, ARK Innovation has gained about 35%—and the fund could be on the cusp of a bullish breakout.</p><p><blockquote>我们建议投资者在股价约为102美元时考虑以2.30美元出售的6月份85美元看跌期权刚刚到期，一文不值。与此同时，创新ETF的交易价格刚刚达到两个月来的最高水平。自5月中旬以来，ARK Innovation已上涨约35%，该基金可能正处于看涨突破的风口浪尖。</blockquote></p><p> The fund traded above $130 from early January until March, only to come under bearish pressures during the recent rotation. The suggested risk-reversal strategy expresses a view that the Innovation ETF will trade above $130 into the fall, moving beyond a price that has often marked upside resistance.</p><p><blockquote>从1月初到3月，该基金的交易价格高于130美元，但在最近的轮换中却面临看跌压力。建议的风险逆转策略表达了这样一种观点，即创新ETF的交易价格将在130美元以上进入秋季，突破通常标志着上行阻力的价格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/ark-innovation-is-coming-back-strongly-heres-a-trade-to-exploit-it-51625130000?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKK":"ARK Innovation ETF","ARKF":"ARK Fintech Innovation ETF","ARKQ":"ARK Autonomous Technology & Robotics ETF","ARKO":"ARKO Corp","TSLA":"特斯拉","ARKG":"ARK Genomic Revolution ETF","TDOC":"Teladoc Health Inc.","ARKR":"Ark Restaurants Corp","ZM":"Zoom","SPOT":"Spotify Technology S.A."},"source_url":"https://www.barrons.com/articles/ark-innovation-is-coming-back-strongly-heres-a-trade-to-exploit-it-51625130000?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190114481","content_text":"Cathie Wood, ARK Invest\nIt is time once more to consider getting on board Cathie Wood’s ARK Innovation exchange-traded fund.\nARK Innovation (ticker: ARKK), which owns many of the stock market’s most controversial and most intriguing companies, seems to be on the cusp of entering a higher trading range after a month of troubles.\nThe Innovation ETF is hovering around $130, a level that has often proved to be difficult for the fund to stay above for long. But the recent rotation back into technology—and away from value stocks that benefited from the seeming end of the pandemic—could give the ETF a push higher.\nAggressive investors who want to wager on the potential breakout can consider an options strategy that pays them for agreeing to buy the fund at a lower price, while letting them participate in future gains.\nWhen the Innovation ETF was trading around $130, the September $129 put could be sold for about $9 and the September $132 call could be bought for about $7.70. The risk reversal—that is, selling a put and buying a call with a higher strike price but with the same expiration—essentially pays investors $1.30 for agreeing to buy the fund at $129 and to participate in advances above $132.\nIf the fund is at $150 at expiration, the call is worth $28. Should the ARK Innovation ETF be at $129 or lower at the September expiration, investors are obligated to buy the fund at $129 even if the fund is trading sharply lower.\nTo avoid buying the fund on a decline, investors could adjust the put in the options market and move it to a different expiration. Of course, if the fund advances, and is above the put strike at expiration, investors can keep the put premium.\nDuring the past 52 weeks, ARK Innovation has ranged from $69.18 to $159.70.\nThe risk-reversal strategy represents the evolution of a mid-May suggestion for investors to consider selling puts on the Innovation ETF when it seemed the fund was facing real trouble.\nAt the time, many of the fund’s holdings were weak and out of favor as investors were abandoning growth stocks that were defensive holdings during the pandemic, while buying value stocks that would benefit from the reopening of the economy.\nIt seemed that many investors and market pundits were happy to see Wood struggle after the fund rose 153% in 2020. But we recommended that investors look past the difficulties and wager that Wood would prevail.\nRather than wilting under the pressure, she made a surprising and gutsy move. Wood took advantage of the weakness and essentially bought more stock as prices declined. The fund owns many stocks with extraordinary potential and often even more extraordinary valuations. The fund is closely associated with Tesla(TLSA), its top holding, but the portfolio includes other companies that are also trying to reshape the world with technology, including Teladoc Health(TDOC), Square (SQ),Zoom Video Communications(ZOOM), and Spotify Technology (SPOT).\nThe June $85 put that we suggested investors consider selling at $2.30 when the stock was around $102 just expired worthless. The Innovation ETF, meanwhile, just traded at its highest level in two months. Since mid-May, ARK Innovation has gained about 35%—and the fund could be on the cusp of a bullish breakout.\nThe fund traded above $130 from early January until March, only to come under bearish pressures during the recent rotation. The suggested risk-reversal strategy expresses a view that the Innovation ETF will trade above $130 into the fall, moving beyond a price that has often marked upside resistance.","news_type":1,"symbols_score_info":{"SPOT":0.9,"TSLA":0.9,"ZM":0.9,"ARKF":0.9,"ARKQ":0.9,"SQ":0.9,"ARKG":0.9,"TDOC":0.9,"ARKK":0.9,"ARKO":0.9,"ARKR":0.9}},"isVote":1,"tweetType":1,"viewCount":396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":828395736,"gmtCreate":1633840894763,"gmtModify":1633840894917,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BRK.B\">$Berkshire Hathaway(BRK.B)$</a>has been a good one for me. It's really like an actively managed&nbsp;etf, and the companies it owns are quite solid. No dividend, but it's OK. The earnings are reinvested into other companies.","listText":"<a href=\"https://laohu8.com/S/BRK.B\">$Berkshire Hathaway(BRK.B)$</a>has been a good one for me. It's really like an actively managed&nbsp;etf, and the companies it owns are quite solid. No dividend, but it's OK. The earnings are reinvested into other companies.","text":"$Berkshire Hathaway(BRK.B)$has been a good one for me. It's really like an actively managed etf, and the companies it owns are quite solid. No dividend, but it's OK. The earnings are reinvested into other companies.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/828395736","repostId":"1115058296","repostType":4,"repost":{"id":"1115058296","kind":"news","pubTimestamp":1633787569,"share":"https://www.laohu8.com/m/news/1115058296?lang=zh_CN&edition=full","pubTime":"2021-10-09 21:52","market":"us","language":"en","title":"3 Surefire Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的3只万无一失的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115058296","media":"Motley Fool","summary":"Most folks won't be thrilled to hear this, but a stock market crash or double-digit correction might","content":"<p>Most folks won't be thrilled to hear this, but a stock market crash or double-digit correction might be on the way.</p><p><blockquote>大多数人听到这个消息不会感到兴奋，但股市崩盘或两位数的调整可能即将到来。</blockquote></p><p> To be crystal clear, no one can predict with any long-term accuracy precisely when a crash or correction will occur, how steep the decline will be, how long it'll last, or in many instances what'll precipitate the move lower in the broader market. But one thing is clear: Crashes and correction are a normal part of the investing cycle and the price of admission to the greatest wealth creator on the planet.</p><p><blockquote>需要明确的是，没有人能够长期准确地预测崩盘或调整何时会发生、下跌幅度有多大、持续时间有多长，或者在许多情况下是什么会促使大盘下跌。但有一点是明确的：崩盘和调整是投资周期的正常部分，也是进入这个星球上最伟大的财富创造者的代价。</blockquote></p><p> History isn't the market's friend in the near term</p><p><blockquote>短期内历史并不是市场的朋友</blockquote></p><p> At the moment, there are&nbsp;no shortage of tail&nbsp;winds&nbsp;for a stock market crash. In particular, history doesn't look to be the friend of the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;(SNPINDEX:^GSPC)over the short term.</p><p><blockquote>目前，股市崩盘不乏顺风。特别是，历史似乎并不是基准的朋友<b>标普500</b>(SNPINDEX：^GSPC)短期内。</blockquote></p><p> For instance, the widely followed S&amp;P 500 has behaved similarly following each of its previous eight bear-market bottoms, dating back to 1960. Within three years of bouncing back from its trough, the S&amp;P 500 has always had one or two instances where it's declined by at least 10%. Rallying from a bear-market bottom is a bumpy process that takes time. With the broad-based index doubling in value in less than 17 months, there's a good chance we're long overdue for some \"bumps.\"</p><p><blockquote>例如，自1960年以来，广受关注的标普500在前八次熊市底部之后都表现类似。在从低谷反弹的三年内，标普500总会出现一两次下跌至少10%的情况。从熊市底部反弹是一个坎坷的过程，需要时间。随着基础广泛的指数在不到17个月的时间里翻了一番，我们很可能早就应该出现一些“颠簸”了。</blockquote></p><p> History is&nbsp;no fan of extended valuations, either. As of the close of business on Monday, Oct. 4, the S&amp;P 500's Shiller price-to-earnings ratio was north of 37. The Shiller P/E takes into account inflation-adjusted earnings over the past 10 years. While access to information over the internet has helped expand P/E multiples since the mid-1990s, history is quite clear that bad things happen when the S&amp;P 500's Shiller P/E crosses above 30. In the previous four instances this has happened, the broad-based index shed at least 20% of its value.</p><p><blockquote>历史也不喜欢高估值。截至10月4日星期一收盘，该标普500的席勒市盈率超过37。席勒市盈率考虑了过去10年经通胀调整的收益。虽然自20世纪90年代中期以来，通过互联网获取信息有助于扩大市盈率倍数，但历史非常清楚，当标普500的希勒市盈率超过30时，坏事就会发生。在之前的四次发生这种情况时，基础广泛的指数至少下跌了20%。</blockquote></p><p> Even the history behind margin-debt usage is worrisome. Although it's perfectly normal for nominal margin debt outstanding to increase over time, it's&nbsp;not normal&nbsp;for margin-debt usage to skyrocket higher in a short time frame. There have been three instances since 1995 where margin-debt usage jumped by at least 60% in a given year. Two of these instances were directly before the dot-com bubble burst and the financial crisis began. The third instance is in 2021.</p><p><blockquote>就连保证金债务使用背后的历史也令人担忧。尽管名义保证金债务随着时间的推移而增加是完全正常的，但保证金债务使用量在短时间内飙升是不正常的。自1995年以来，已有三起保证金债务使用量在某一年跃升至少60%的情况。其中两个例子发生在互联网泡沫破裂和金融危机开始之前。第三个例子是在2021年。</blockquote></p><p> The table would appear to be a set for sizable but healthy pullback in the S&amp;P 500.</p><p><blockquote>标普500似乎将出现大幅但健康的回调。</blockquote></p><p> A crash or steep correction is the perfect time to buy these surefire stocks</p><p><blockquote>崩盘或大幅调整是购买这些万无一失的股票的最佳时机</blockquote></p><p> While big moves lower in the market are known to cause investor anxiety, they're also the perfect opportunity to pounce. You see, whereas history isn't the market's friend in the short run, it's unquestionably thegreatest ally of investors over the long term.</p><p><blockquote>虽然众所周知，市场大幅下跌会引起投资者的焦虑，但这也是买入的绝佳机会。你看，虽然历史在短期内不是市场的朋友，但从长期来看，它无疑是投资者最伟大的盟友。</blockquote></p><p> For example, there's never been a rolling 20-year period over the past century when an S&amp;P 500 tracking index wouldn't have generated a positive annualized total return for investors. A crash or correction is simply an opportunity to buy great companies at a discount.</p><p><blockquote>例如，在过去的一个世纪里，标普500跟踪指数从来没有一个连续20年不能为投资者带来正的年化总回报。崩盘或调整只是一个以折扣价购买伟大公司的机会。</blockquote></p><p> Should this recent sell-off manifest into a crash or correction, the following three surefire stocks can be confidently bought hand over fist.</p><p><blockquote>如果最近的抛售表现为崩盘或调整，可以放心地买入以下三只万无一失的股票。</blockquote></p><p> Berkshire Hathaway</p><p><blockquote>伯克希尔哈撒韦</blockquote></p><p> Few stocks have&nbsp;generated more surefire returns&nbsp;for long-term investors than Warren Buffett's conglomerate&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B). Since taking over as CEO in 1965, Buffett has overseen an average annual return of the company's Class A shares (BRK.A) of 20%. In aggregate, and taking into account the year-to-date return of Berkshire Hathaway, Buffett has created around $600 billion in shareholder value and produced a roughly 3,300,000% return in 56 years.</p><p><blockquote>很少有股票比沃伦·巴菲特的企业集团为长期投资者带来更可靠的回报<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）。自1965年接任首席执行官以来，巴菲特监管的公司A类股(BRK.A)的平均年回报率为20%。总体而言，考虑到伯克希尔哈撒韦公司今年迄今的回报，巴菲特在56年内创造了约6000亿美元的股东价值，并产生了约3,300,000%的回报。</blockquote></p><p> Though there is&nbsp;a laundry list of reasons for Buffett's success, his leanings toward cyclical businesses plays a big role. Even though the Oracle of Omaha is well aware that economic contractions and recessions are inevitable, he understands that periods of expansion tend to last substantially longer. Thus, he's packed Berkshire Hathaway's investment portfolio with bank stocks, tech stocks, and consumer staples companies that'll thrive during an expanding economy.</p><p><blockquote>尽管巴菲特成功的原因有很多，但他对周期性业务的倾向发挥了重要作用。尽管这位奥马哈先知很清楚经济收缩和衰退是不可避免的，但他明白扩张时期往往会持续更长时间。因此，他在伯克希尔哈撒韦公司的投资组合中加入了银行股、科技股和消费必需品公司，这些公司将在经济扩张期间蓬勃发展。</blockquote></p><p> Another reason Berkshire Hathaway has delivered such incredible returns is Buffett's focus on&nbsp;dividend stocks. While Berkshire doesn't pay a dividend, it's on pace to collect more than $5 billion in dividend income in 2021. That's nearly a 5% yield, relative to the cost basis of Berkshire's holdings. Since dividend stocks are almost always profitable and time-tested, they fit the bill of what Buffett is looking for in a long-term holding.</p><p><blockquote>伯克希尔哈撒韦公司带来如此令人难以置信的回报的另一个原因是巴菲特对股息股票的关注。虽然伯克希尔哈撒韦公司不支付股息，但它有望在2021年获得超过50亿美元的股息收入。相对于伯克希尔持股的成本基础，这一收益率接近5%。由于股息股票几乎总是盈利且经过时间考验，因此它们符合巴菲特长期持有的要求。</blockquote></p><p> Long story short, riding Buffett's coattails has often been a smart move.</p><p><blockquote>长话短说，搭巴菲特的顺风车往往是明智之举。</blockquote></p><p> Salesforce</p><p><blockquote>Salesforce</blockquote></p><p></p><p> Another surefire stock that's continuously delivered for its shareholders and would be perfect to buy during a stock market crash is&nbsp;<b>Salesforce.com</b>(NYSE:CRM), which provides software solutions for cloud-based customer relationship management (CRM).</p><p><blockquote>另一只持续向股东交付、在股市崩盘期间购买的万无一失的股票是<b>Salesforce.com</b>（纽约证券交易所代码：CRM），为基于云的客户关系管理（CRM）提供软件解决方案。</blockquote></p><p> For those of you unfamiliar with CRM, it's used by consumer-facing businesses to enhance customer relationships and boost sales. It can be used to handle service or product issues, oversee online marketing campaigns, and run predictive sales analyses of an existing client base. What's particularly noteworthy about CRM software is that it's finding its way into nontraditional sectors, such as finance and healthcare.</p><p><blockquote>对于那些不熟悉CRM的人来说，它被面向消费者的企业用来加强客户关系和促进销售。它可用于处理服务或产品问题、监督在线营销活动以及对现有客户群进行预测性销售分析。CRM软件特别值得注意的是，它正在进入非传统领域，如金融和医疗保健。</blockquote></p><p> Cloud-based CRM software offers double-digit growth potential through at least mid-decade, and Salesforce&nbsp;sits at the center of this rapidly growing trend. According to IDC, Salesforce controlled 19.5% of global CRM spending in 2020, which is over a full percentage point higher than the share&nbsp;<b>Oracle</b>,<b>SAP</b>,<b>Microsoft</b>, and&nbsp;<b>Adobe</b>&nbsp;possessed last year on a&nbsp;<i>combined</i>&nbsp;basis.&nbsp; A little stock market turbulence doesn't change demand for CRM software solutions or weaken Salesforce's commanding market share lead.</p><p><blockquote>基于云的CRM软件至少在十年中期提供了两位数的增长潜力，而Salesforce处于这一快速增长趋势的中心。根据IDC的数据，2020年Salesforce控制了全球CRM支出的19.5%，比份额高出整整一个百分点<b>神谕</b>,<b>SAP</b>,<b>微软</b>，和<b>土坯</b>去年在一个<i>联合的</i>基础。股市的一点动荡不会改变对CRM软件解决方案的需求，也不会削弱Salesforce的市场份额领先地位。</blockquote></p><p> What's more, CEO Marc Benioff&nbsp;has been an acquisition maven. The buyouts of MuleSoft, Tableau, and most recently Slack Technologies have added to the company's cloud-based ecosystem and should allow annual sales to more than double to $50 billion over the next five years. Any discount investors can get on shares of Salesforce should be viewed as a gift.</p><p><blockquote>更重要的是，首席执行官马克·贝尼奥夫是一位收购专家。对MuleSoft、Tableau以及最近对Slack Technologies的收购增加了该公司基于云的生态系统，预计未来五年年销售额将增长一倍以上，达到500亿美元。投资者购买Salesforce股票可以获得的任何折扣都应被视为一份礼物。</blockquote></p><p> Alphabet</p><p><blockquote>Alphabet</blockquote></p><p> A third&nbsp;surefire stock to buy if a stock market crash or correction arises&nbsp;is&nbsp;<b>Alphabet</b>(NASDAQ:GOOGL)(NASDAQ:GOOG), the parent company of internet search engine Google and streaming content provider YouTube.</p><p><blockquote>如果股市崩盘或调整出现，第三只值得买入的股票是<b>Alphabet</b>（纳斯达克：GOOGL）（纳斯达克：GOOG），互联网搜索引擎谷歌和流媒体内容提供商YouTube的母公司。</blockquote></p><p> When it comes to global internet search, there's Google and everyone else. The thing is, \"everyone else\" barely moves the needle. According to GlobalStats, Google accounted for 92% of the worldwide search engine market in September. Looking back two years, it's much of the same, with Google holding a&nbsp;91% to 93% share of global internet search. As the clear go-to for advertisers, Alphabet's Google benefits immensely from long-winded periods of U.S. and global economic expansion.</p><p><blockquote>说到全球互联网搜索，有谷歌和其他所有人。问题是，“其他人”几乎不动针。根据GlobalStats的数据，9月份谷歌占据了全球搜索引擎市场92%的份额。回顾两年前，情况大同小异，谷歌占据了全球互联网搜索91%至93%的份额。作为广告商的明确首选，Alphabet(Elon Musk)的谷歌从美国和全球经济扩张的漫长时期中受益匪浅。</blockquote></p><p> What might be even more exciting than Alphabet's veritable monopoly on internet search is the company's rapidly growing ancillary projects. Streaming service provider YouTube saw ad revenue surge 84% in the second quarter, with its annual sales run rate hitting $28 billion. YouTube has quickly become one of the most-visited social sites on the planet.</p><p><blockquote>可能比Alphabet名副其实的互联网搜索垄断更令人兴奋的是该公司快速增长的辅助项目。流媒体服务提供商YouTube第二季度广告收入飙升84%，年销售额达到280亿美元。YouTube已经迅速成为地球上访问量最大的社交网站之一。</blockquote></p><p> Meanwhile, Google Cloud delivered 54% sales growth in the June-ended quarter and now sports an annual run rate over $18 billion in sales. Google Cloud is the third-biggest player in cloud infrastructure and should grow into a major source of operating cash flow for Alphabet over time. There's&nbsp;absolutely no reason&nbsp;for Alphabet not to be on your buy list if the market crashes or corrects.</p><p><blockquote>与此同时，谷歌云在截至6月的季度实现了54%的销售额增长，目前年销售额超过180亿美元。谷歌云是云基础设施领域的第三大参与者，随着时间的推移，它应该会成长为Alphabet运营现金流的主要来源。如果市场崩盘或调整，Alphabet绝对没有理由不在您的买入名单上。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Surefire Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的3只万无一失的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Surefire Stocks to Buy If There's a Stock Market Crash<blockquote>如果股市崩盘，值得买入的3只万无一失的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-10-09 21:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Most folks won't be thrilled to hear this, but a stock market crash or double-digit correction might be on the way.</p><p><blockquote>大多数人听到这个消息不会感到兴奋，但股市崩盘或两位数的调整可能即将到来。</blockquote></p><p> To be crystal clear, no one can predict with any long-term accuracy precisely when a crash or correction will occur, how steep the decline will be, how long it'll last, or in many instances what'll precipitate the move lower in the broader market. But one thing is clear: Crashes and correction are a normal part of the investing cycle and the price of admission to the greatest wealth creator on the planet.</p><p><blockquote>需要明确的是，没有人能够长期准确地预测崩盘或调整何时会发生、下跌幅度有多大、持续时间有多长，或者在许多情况下是什么会促使大盘下跌。但有一点是明确的：崩盘和调整是投资周期的正常部分，也是进入这个星球上最伟大的财富创造者的代价。</blockquote></p><p> History isn't the market's friend in the near term</p><p><blockquote>短期内历史并不是市场的朋友</blockquote></p><p> At the moment, there are&nbsp;no shortage of tail&nbsp;winds&nbsp;for a stock market crash. In particular, history doesn't look to be the friend of the benchmark&nbsp;<b>S&amp;P 500</b>&nbsp;(SNPINDEX:^GSPC)over the short term.</p><p><blockquote>目前，股市崩盘不乏顺风。特别是，历史似乎并不是基准的朋友<b>标普500</b>(SNPINDEX：^GSPC)短期内。</blockquote></p><p> For instance, the widely followed S&amp;P 500 has behaved similarly following each of its previous eight bear-market bottoms, dating back to 1960. Within three years of bouncing back from its trough, the S&amp;P 500 has always had one or two instances where it's declined by at least 10%. Rallying from a bear-market bottom is a bumpy process that takes time. With the broad-based index doubling in value in less than 17 months, there's a good chance we're long overdue for some \"bumps.\"</p><p><blockquote>例如，自1960年以来，广受关注的标普500在前八次熊市底部之后都表现类似。在从低谷反弹的三年内，标普500总会出现一两次下跌至少10%的情况。从熊市底部反弹是一个坎坷的过程，需要时间。随着基础广泛的指数在不到17个月的时间里翻了一番，我们很可能早就应该出现一些“颠簸”了。</blockquote></p><p> History is&nbsp;no fan of extended valuations, either. As of the close of business on Monday, Oct. 4, the S&amp;P 500's Shiller price-to-earnings ratio was north of 37. The Shiller P/E takes into account inflation-adjusted earnings over the past 10 years. While access to information over the internet has helped expand P/E multiples since the mid-1990s, history is quite clear that bad things happen when the S&amp;P 500's Shiller P/E crosses above 30. In the previous four instances this has happened, the broad-based index shed at least 20% of its value.</p><p><blockquote>历史也不喜欢高估值。截至10月4日星期一收盘，该标普500的席勒市盈率超过37。席勒市盈率考虑了过去10年经通胀调整的收益。虽然自20世纪90年代中期以来，通过互联网获取信息有助于扩大市盈率倍数，但历史非常清楚，当标普500的希勒市盈率超过30时，坏事就会发生。在之前的四次发生这种情况时，基础广泛的指数至少下跌了20%。</blockquote></p><p> Even the history behind margin-debt usage is worrisome. Although it's perfectly normal for nominal margin debt outstanding to increase over time, it's&nbsp;not normal&nbsp;for margin-debt usage to skyrocket higher in a short time frame. There have been three instances since 1995 where margin-debt usage jumped by at least 60% in a given year. Two of these instances were directly before the dot-com bubble burst and the financial crisis began. The third instance is in 2021.</p><p><blockquote>就连保证金债务使用背后的历史也令人担忧。尽管名义保证金债务随着时间的推移而增加是完全正常的，但保证金债务使用量在短时间内飙升是不正常的。自1995年以来，已有三起保证金债务使用量在某一年跃升至少60%的情况。其中两个例子发生在互联网泡沫破裂和金融危机开始之前。第三个例子是在2021年。</blockquote></p><p> The table would appear to be a set for sizable but healthy pullback in the S&amp;P 500.</p><p><blockquote>标普500似乎将出现大幅但健康的回调。</blockquote></p><p> A crash or steep correction is the perfect time to buy these surefire stocks</p><p><blockquote>崩盘或大幅调整是购买这些万无一失的股票的最佳时机</blockquote></p><p> While big moves lower in the market are known to cause investor anxiety, they're also the perfect opportunity to pounce. You see, whereas history isn't the market's friend in the short run, it's unquestionably thegreatest ally of investors over the long term.</p><p><blockquote>虽然众所周知，市场大幅下跌会引起投资者的焦虑，但这也是买入的绝佳机会。你看，虽然历史在短期内不是市场的朋友，但从长期来看，它无疑是投资者最伟大的盟友。</blockquote></p><p> For example, there's never been a rolling 20-year period over the past century when an S&amp;P 500 tracking index wouldn't have generated a positive annualized total return for investors. A crash or correction is simply an opportunity to buy great companies at a discount.</p><p><blockquote>例如，在过去的一个世纪里，标普500跟踪指数从来没有一个连续20年不能为投资者带来正的年化总回报。崩盘或调整只是一个以折扣价购买伟大公司的机会。</blockquote></p><p> Should this recent sell-off manifest into a crash or correction, the following three surefire stocks can be confidently bought hand over fist.</p><p><blockquote>如果最近的抛售表现为崩盘或调整，可以放心地买入以下三只万无一失的股票。</blockquote></p><p> Berkshire Hathaway</p><p><blockquote>伯克希尔哈撒韦</blockquote></p><p> Few stocks have&nbsp;generated more surefire returns&nbsp;for long-term investors than Warren Buffett's conglomerate&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B). Since taking over as CEO in 1965, Buffett has overseen an average annual return of the company's Class A shares (BRK.A) of 20%. In aggregate, and taking into account the year-to-date return of Berkshire Hathaway, Buffett has created around $600 billion in shareholder value and produced a roughly 3,300,000% return in 56 years.</p><p><blockquote>很少有股票比沃伦·巴菲特的企业集团为长期投资者带来更可靠的回报<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）。自1965年接任首席执行官以来，巴菲特监管的公司A类股(BRK.A)的平均年回报率为20%。总体而言，考虑到伯克希尔哈撒韦公司今年迄今的回报，巴菲特在56年内创造了约6000亿美元的股东价值，并产生了约3,300,000%的回报。</blockquote></p><p> Though there is&nbsp;a laundry list of reasons for Buffett's success, his leanings toward cyclical businesses plays a big role. Even though the Oracle of Omaha is well aware that economic contractions and recessions are inevitable, he understands that periods of expansion tend to last substantially longer. Thus, he's packed Berkshire Hathaway's investment portfolio with bank stocks, tech stocks, and consumer staples companies that'll thrive during an expanding economy.</p><p><blockquote>尽管巴菲特成功的原因有很多，但他对周期性业务的倾向发挥了重要作用。尽管这位奥马哈先知很清楚经济收缩和衰退是不可避免的，但他明白扩张时期往往会持续更长时间。因此，他在伯克希尔哈撒韦公司的投资组合中加入了银行股、科技股和消费必需品公司，这些公司将在经济扩张期间蓬勃发展。</blockquote></p><p> Another reason Berkshire Hathaway has delivered such incredible returns is Buffett's focus on&nbsp;dividend stocks. While Berkshire doesn't pay a dividend, it's on pace to collect more than $5 billion in dividend income in 2021. That's nearly a 5% yield, relative to the cost basis of Berkshire's holdings. Since dividend stocks are almost always profitable and time-tested, they fit the bill of what Buffett is looking for in a long-term holding.</p><p><blockquote>伯克希尔哈撒韦公司带来如此令人难以置信的回报的另一个原因是巴菲特对股息股票的关注。虽然伯克希尔哈撒韦公司不支付股息，但它有望在2021年获得超过50亿美元的股息收入。相对于伯克希尔持股的成本基础，这一收益率接近5%。由于股息股票几乎总是盈利且经过时间考验，因此它们符合巴菲特长期持有的要求。</blockquote></p><p> Long story short, riding Buffett's coattails has often been a smart move.</p><p><blockquote>长话短说，搭巴菲特的顺风车往往是明智之举。</blockquote></p><p> Salesforce</p><p><blockquote>Salesforce</blockquote></p><p></p><p> Another surefire stock that's continuously delivered for its shareholders and would be perfect to buy during a stock market crash is&nbsp;<b>Salesforce.com</b>(NYSE:CRM), which provides software solutions for cloud-based customer relationship management (CRM).</p><p><blockquote>另一只持续向股东交付、在股市崩盘期间购买的万无一失的股票是<b>Salesforce.com</b>（纽约证券交易所代码：CRM），为基于云的客户关系管理（CRM）提供软件解决方案。</blockquote></p><p> For those of you unfamiliar with CRM, it's used by consumer-facing businesses to enhance customer relationships and boost sales. It can be used to handle service or product issues, oversee online marketing campaigns, and run predictive sales analyses of an existing client base. What's particularly noteworthy about CRM software is that it's finding its way into nontraditional sectors, such as finance and healthcare.</p><p><blockquote>对于那些不熟悉CRM的人来说，它被面向消费者的企业用来加强客户关系和促进销售。它可用于处理服务或产品问题、监督在线营销活动以及对现有客户群进行预测性销售分析。CRM软件特别值得注意的是，它正在进入非传统领域，如金融和医疗保健。</blockquote></p><p> Cloud-based CRM software offers double-digit growth potential through at least mid-decade, and Salesforce&nbsp;sits at the center of this rapidly growing trend. According to IDC, Salesforce controlled 19.5% of global CRM spending in 2020, which is over a full percentage point higher than the share&nbsp;<b>Oracle</b>,<b>SAP</b>,<b>Microsoft</b>, and&nbsp;<b>Adobe</b>&nbsp;possessed last year on a&nbsp;<i>combined</i>&nbsp;basis.&nbsp; A little stock market turbulence doesn't change demand for CRM software solutions or weaken Salesforce's commanding market share lead.</p><p><blockquote>基于云的CRM软件至少在十年中期提供了两位数的增长潜力，而Salesforce处于这一快速增长趋势的中心。根据IDC的数据，2020年Salesforce控制了全球CRM支出的19.5%，比份额高出整整一个百分点<b>神谕</b>,<b>SAP</b>,<b>微软</b>，和<b>土坯</b>去年在一个<i>联合的</i>基础。股市的一点动荡不会改变对CRM软件解决方案的需求，也不会削弱Salesforce的市场份额领先地位。</blockquote></p><p> What's more, CEO Marc Benioff&nbsp;has been an acquisition maven. The buyouts of MuleSoft, Tableau, and most recently Slack Technologies have added to the company's cloud-based ecosystem and should allow annual sales to more than double to $50 billion over the next five years. Any discount investors can get on shares of Salesforce should be viewed as a gift.</p><p><blockquote>更重要的是，首席执行官马克·贝尼奥夫是一位收购专家。对MuleSoft、Tableau以及最近对Slack Technologies的收购增加了该公司基于云的生态系统，预计未来五年年销售额将增长一倍以上，达到500亿美元。投资者购买Salesforce股票可以获得的任何折扣都应被视为一份礼物。</blockquote></p><p> Alphabet</p><p><blockquote>Alphabet</blockquote></p><p> A third&nbsp;surefire stock to buy if a stock market crash or correction arises&nbsp;is&nbsp;<b>Alphabet</b>(NASDAQ:GOOGL)(NASDAQ:GOOG), the parent company of internet search engine Google and streaming content provider YouTube.</p><p><blockquote>如果股市崩盘或调整出现，第三只值得买入的股票是<b>Alphabet</b>（纳斯达克：GOOGL）（纳斯达克：GOOG），互联网搜索引擎谷歌和流媒体内容提供商YouTube的母公司。</blockquote></p><p> When it comes to global internet search, there's Google and everyone else. The thing is, \"everyone else\" barely moves the needle. According to GlobalStats, Google accounted for 92% of the worldwide search engine market in September. Looking back two years, it's much of the same, with Google holding a&nbsp;91% to 93% share of global internet search. As the clear go-to for advertisers, Alphabet's Google benefits immensely from long-winded periods of U.S. and global economic expansion.</p><p><blockquote>说到全球互联网搜索，有谷歌和其他所有人。问题是，“其他人”几乎不动针。根据GlobalStats的数据，9月份谷歌占据了全球搜索引擎市场92%的份额。回顾两年前，情况大同小异，谷歌占据了全球互联网搜索91%至93%的份额。作为广告商的明确首选，Alphabet(Elon Musk)的谷歌从美国和全球经济扩张的漫长时期中受益匪浅。</blockquote></p><p> What might be even more exciting than Alphabet's veritable monopoly on internet search is the company's rapidly growing ancillary projects. Streaming service provider YouTube saw ad revenue surge 84% in the second quarter, with its annual sales run rate hitting $28 billion. YouTube has quickly become one of the most-visited social sites on the planet.</p><p><blockquote>可能比Alphabet名副其实的互联网搜索垄断更令人兴奋的是该公司快速增长的辅助项目。流媒体服务提供商YouTube第二季度广告收入飙升84%，年销售额达到280亿美元。YouTube已经迅速成为地球上访问量最大的社交网站之一。</blockquote></p><p> Meanwhile, Google Cloud delivered 54% sales growth in the June-ended quarter and now sports an annual run rate over $18 billion in sales. Google Cloud is the third-biggest player in cloud infrastructure and should grow into a major source of operating cash flow for Alphabet over time. There's&nbsp;absolutely no reason&nbsp;for Alphabet not to be on your buy list if the market crashes or corrects.</p><p><blockquote>与此同时，谷歌云在截至6月的季度实现了54%的销售额增长，目前年销售额超过180亿美元。谷歌云是云基础设施领域的第三大参与者，随着时间的推移，它应该会成长为Alphabet运营现金流的主要来源。如果市场崩盘或调整，Alphabet绝对没有理由不在您的买入名单上。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/10/09/3-surefire-stocks-to-buy-if-stock-market-crash/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRM":"赛富时","BRK.A":"伯克希尔","GOOGL":"谷歌A","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2021/10/09/3-surefire-stocks-to-buy-if-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115058296","content_text":"Most folks won't be thrilled to hear this, but a stock market crash or double-digit correction might be on the way.\nTo be crystal clear, no one can predict with any long-term accuracy precisely when a crash or correction will occur, how steep the decline will be, how long it'll last, or in many instances what'll precipitate the move lower in the broader market. But one thing is clear: Crashes and correction are a normal part of the investing cycle and the price of admission to the greatest wealth creator on the planet.\nHistory isn't the market's friend in the near term\nAt the moment, there are no shortage of tail winds for a stock market crash. In particular, history doesn't look to be the friend of the benchmark S&P 500 (SNPINDEX:^GSPC)over the short term.\nFor instance, the widely followed S&P 500 has behaved similarly following each of its previous eight bear-market bottoms, dating back to 1960. Within three years of bouncing back from its trough, the S&P 500 has always had one or two instances where it's declined by at least 10%. Rallying from a bear-market bottom is a bumpy process that takes time. With the broad-based index doubling in value in less than 17 months, there's a good chance we're long overdue for some \"bumps.\"\nHistory is no fan of extended valuations, either. As of the close of business on Monday, Oct. 4, the S&P 500's Shiller price-to-earnings ratio was north of 37. The Shiller P/E takes into account inflation-adjusted earnings over the past 10 years. While access to information over the internet has helped expand P/E multiples since the mid-1990s, history is quite clear that bad things happen when the S&P 500's Shiller P/E crosses above 30. In the previous four instances this has happened, the broad-based index shed at least 20% of its value.\nEven the history behind margin-debt usage is worrisome. Although it's perfectly normal for nominal margin debt outstanding to increase over time, it's not normal for margin-debt usage to skyrocket higher in a short time frame. There have been three instances since 1995 where margin-debt usage jumped by at least 60% in a given year. Two of these instances were directly before the dot-com bubble burst and the financial crisis began. The third instance is in 2021.\nThe table would appear to be a set for sizable but healthy pullback in the S&P 500.\nA crash or steep correction is the perfect time to buy these surefire stocks\nWhile big moves lower in the market are known to cause investor anxiety, they're also the perfect opportunity to pounce. You see, whereas history isn't the market's friend in the short run, it's unquestionably thegreatest ally of investors over the long term.\nFor example, there's never been a rolling 20-year period over the past century when an S&P 500 tracking index wouldn't have generated a positive annualized total return for investors. A crash or correction is simply an opportunity to buy great companies at a discount.\nShould this recent sell-off manifest into a crash or correction, the following three surefire stocks can be confidently bought hand over fist.\nBerkshire Hathaway\nFew stocks have generated more surefire returns for long-term investors than Warren Buffett's conglomerate Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B). Since taking over as CEO in 1965, Buffett has overseen an average annual return of the company's Class A shares (BRK.A) of 20%. In aggregate, and taking into account the year-to-date return of Berkshire Hathaway, Buffett has created around $600 billion in shareholder value and produced a roughly 3,300,000% return in 56 years.\nThough there is a laundry list of reasons for Buffett's success, his leanings toward cyclical businesses plays a big role. Even though the Oracle of Omaha is well aware that economic contractions and recessions are inevitable, he understands that periods of expansion tend to last substantially longer. Thus, he's packed Berkshire Hathaway's investment portfolio with bank stocks, tech stocks, and consumer staples companies that'll thrive during an expanding economy.\nAnother reason Berkshire Hathaway has delivered such incredible returns is Buffett's focus on dividend stocks. While Berkshire doesn't pay a dividend, it's on pace to collect more than $5 billion in dividend income in 2021. That's nearly a 5% yield, relative to the cost basis of Berkshire's holdings. Since dividend stocks are almost always profitable and time-tested, they fit the bill of what Buffett is looking for in a long-term holding.\nLong story short, riding Buffett's coattails has often been a smart move.\nSalesforce\nAnother surefire stock that's continuously delivered for its shareholders and would be perfect to buy during a stock market crash is Salesforce.com(NYSE:CRM), which provides software solutions for cloud-based customer relationship management (CRM).\nFor those of you unfamiliar with CRM, it's used by consumer-facing businesses to enhance customer relationships and boost sales. It can be used to handle service or product issues, oversee online marketing campaigns, and run predictive sales analyses of an existing client base. What's particularly noteworthy about CRM software is that it's finding its way into nontraditional sectors, such as finance and healthcare.\nCloud-based CRM software offers double-digit growth potential through at least mid-decade, and Salesforce sits at the center of this rapidly growing trend. According to IDC, Salesforce controlled 19.5% of global CRM spending in 2020, which is over a full percentage point higher than the share Oracle,SAP,Microsoft, and Adobe possessed last year on a combined basis.  A little stock market turbulence doesn't change demand for CRM software solutions or weaken Salesforce's commanding market share lead.\nWhat's more, CEO Marc Benioff has been an acquisition maven. The buyouts of MuleSoft, Tableau, and most recently Slack Technologies have added to the company's cloud-based ecosystem and should allow annual sales to more than double to $50 billion over the next five years. Any discount investors can get on shares of Salesforce should be viewed as a gift.\nAlphabet\nA third surefire stock to buy if a stock market crash or correction arises is Alphabet(NASDAQ:GOOGL)(NASDAQ:GOOG), the parent company of internet search engine Google and streaming content provider YouTube.\nWhen it comes to global internet search, there's Google and everyone else. The thing is, \"everyone else\" barely moves the needle. According to GlobalStats, Google accounted for 92% of the worldwide search engine market in September. Looking back two years, it's much of the same, with Google holding a 91% to 93% share of global internet search. As the clear go-to for advertisers, Alphabet's Google benefits immensely from long-winded periods of U.S. and global economic expansion.\nWhat might be even more exciting than Alphabet's veritable monopoly on internet search is the company's rapidly growing ancillary projects. Streaming service provider YouTube saw ad revenue surge 84% in the second quarter, with its annual sales run rate hitting $28 billion. YouTube has quickly become one of the most-visited social sites on the planet.\nMeanwhile, Google Cloud delivered 54% sales growth in the June-ended quarter and now sports an annual run rate over $18 billion in sales. Google Cloud is the third-biggest player in cloud infrastructure and should grow into a major source of operating cash flow for Alphabet over time. There's absolutely no reason for Alphabet not to be on your buy list if the market crashes or corrects.","news_type":1,"symbols_score_info":{"BRK.B":0.9,"CRM":0.9,"BRK.A":0.9,"GOOGL":0.9}},"isVote":1,"tweetType":1,"viewCount":816,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":146760604,"gmtCreate":1626099664308,"gmtModify":1631883987309,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Well written article. Just need to look at the part on fundamentals of the stock. Says it all...","listText":"Well written article. Just need to look at the part on fundamentals of the stock. Says it all...","text":"Well written article. Just need to look at the part on fundamentals of the stock. Says it all...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/146760604","repostId":"2150580297","repostType":4,"isVote":1,"tweetType":1,"viewCount":607,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839453452,"gmtCreate":1629176099176,"gmtModify":1631883827850,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"NIO should be one of the winners in China's EV market. Hold on tight!","listText":"NIO should be one of the winners in China's EV market. Hold on tight!","text":"NIO should be one of the winners in China's EV market. Hold on tight!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/839453452","repostId":"1144644937","repostType":4,"isVote":1,"tweetType":1,"viewCount":408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805580397,"gmtCreate":1627891864119,"gmtModify":1631893782428,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"Tonight's US market showing will be interesting.&nbsp;","listText":"Tonight's US market showing will be interesting.&nbsp;","text":"Tonight's US market showing will be interesting.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/805580397","repostId":"2156212196","repostType":4,"isVote":1,"tweetType":1,"viewCount":348,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180677829,"gmtCreate":1623204004061,"gmtModify":1634035839813,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"What is the fundamentals of Clover? (Havent read yet...) not that I believe the institutional short sellers too.&nbsp;[开心]&nbsp;","listText":"What is the fundamentals of Clover? (Havent read yet...) not that I believe the institutional short sellers too.&nbsp;[开心]&nbsp;","text":"What is the fundamentals of Clover? (Havent read yet...) not that I believe the institutional short sellers too. [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/180677829","repostId":"1148360854","repostType":4,"repost":{"id":"1148360854","kind":"news","pubTimestamp":1623195944,"share":"https://www.laohu8.com/m/news/1148360854?lang=zh_CN&edition=full","pubTime":"2021-06-09 07:45","market":"us","language":"en","title":"Clover Health Roars to Record as Short Sellers Get Burned<blockquote>卖空者被烧伤，三叶草健康飙升至创纪录水平</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148360854","media":"Bloomberg","summary":"(Bloomberg) -- Clover Health Inc., a health insurer backed by venture capitalist Chamath Palihapitiy","content":"<p>(Bloomberg) -- Clover Health Inc., a health insurer backed by venture capitalist Chamath Palihapitiya, was swept up in meme-stock mania on Tuesday, posting a second day of wild gains as retail investors banded together to punish short-sellers betting against the company.</p><p><blockquote>（彭博）-由风险投资家Chamath Palihapitiya支持的健康保险公司Clover Health Inc.周二陷入了meme股票热潮，连续第二天大幅上涨，因为散户投资者联合起来惩罚做空该公司的卖空者。</blockquote></p><p>Clover rallied 86% to close at $22.15 in New York trading after briefly doubling intraday. The gains erased five months of losses in the stock -- which formed part of a broader selloff in Palihapitiya-backed companies -- in just two days. Trading volume in Clover was more than 29 times the three-month daily average on Tuesday, with a record 718 million shares changing hands.</p><p><blockquote>在盘中短暂翻倍后，Clover在纽约交易中上涨86%，收于22.15美元。这些涨幅在短短两天内抹去了该股五个月的跌幅，这是帕里哈皮蒂亚支持的公司更广泛抛售的一部分。周二，Clover的交易量是三个月日均交易量的29倍以上，换手量达到创纪录的7.18亿股。</blockquote></p><p>The sudden flurry of demand comes after retail traders realized that short-sellers had been swelling their bets against Clover, a move that left them vulnerable if the stock were to start rallying. The stock’s story -- like many retail plays -- has left behind fundamentals with shares trading above $20, that’s more than twice the average analyst estimate.</p><p><blockquote>在零售交易员意识到卖空者一直在加大对Clover的押注之后，需求突然激增，如果该股开始上涨，此举将使他们变得脆弱。与许多散户股票一样，该股的故事已经落后于基本面，股价交易价格高于20美元，是分析师平均预期的两倍多。</blockquote></p><p>On the Reddit forum WallStreetBets, chatter has built this week on the potential for a short-squeeze in the stock, following similar successful ploys on meme stocks including Workhorse Group Inc. and Richard Branson’s space exploration company Virgin Galactic Holdings Inc., which advanced 12% and 8.1%, respectively.</p><p><blockquote>在Reddit论坛WallStreetBets上，继Workhorse Group Inc.和理查德·布兰森(Richard Branson)的太空探索公司维珍银河控股公司(Virgin Galactic Holdings Inc.)等模因股票也采取了类似的成功策略后，chatter本周对该股进行了空头挤压的可能性进行了讨论。分别为12%和8.1%。</blockquote></p><p>Bearish bets in Clover have been steadily climbing since March and now stand at over $580 million or 44% of the public float, according to data from S3 Partners. Daytraders also touted the stock’s potential inclusion into the Russell indices -- a rebalancing of those benchmarks is expected toward the end of June.</p><p><blockquote>S3 Partners的数据显示，自3月份以来，对Clover的看跌押注一直在稳步攀升，目前已超过5.8亿美元，占公众持股量的44%。日内交易者还吹捧该股有可能被纳入罗素指数——预计这些基准将在6月底进行重新平衡。</blockquote></p><p>Read more: AMC, Wendy’s Lead Rally as Meme Stocks Rise for a Second Day</p><p><blockquote>阅读更多：随着模因股票连续第二天上涨，AMC、Wendy's领涨</blockquote></p><p>“Short sellers appear to be shorting into a rising market and overheated stocks, they are looking for a pullback off of these elevated levels,” said Ihor Dusaniwsky, S3’s managing director of predictive analytics.</p><p><blockquote>S3预测分析董事总经理Ihor Dusaniwsky表示：“卖空者似乎正在做空上涨的市场和过热的股票，他们正在寻求从这些高位回调。”</blockquote></p><p>Short sellers were down about $465 million on today’s move for a year-to-date loss of $517 million, he said.</p><p><blockquote>他表示，卖空者在今天的走势中下跌了约4.65亿美元，今年迄今损失了5.17亿美元。</blockquote></p><p>Clover declined to comment on the moves.</p><p><blockquote>Clover拒绝对这些举措发表评论。</blockquote></p><p>Meme Advance</p><p><blockquote>模因推进</blockquote></p><p>Other retail-trader favorites, such as AMC Entertainment Holdings Inc. and GameStop Corp., see-sawed on Tuesday amid heavy volume. Wendy’s Co., the latest addition to the retail-trader frenzy, climbed to a record amid touts on Reddit.</p><p><blockquote>AMC院线控股公司和游戏驿站公司等其他散户投资者的最爱周二在成交量巨大的情况下出现拉锯。温迪公司(Wendy's Co.)是零售商狂热的最新成员，在Reddit上的吹捧中攀升至创纪录水平。</blockquote></p><p>“The power of the network effect of social media entices more people to get involved, so then they start broadening their horizons, looking for other names that have high short interest and things like that,” said Michael O’Rourke, chief market strategist at JonesTrading.</p><p><blockquote>首席市场策略师迈克尔·奥罗克(Michael O'Rourke)表示：“社交媒体网络效应的力量吸引了更多人参与其中，因此他们开始拓宽视野，寻找其他具有高空头兴趣的公司等等。”琼斯交易。</blockquote></p><p>Before June, Clover saw its value split in half, with the once-hot market for companies brought to the market via SPACs, or blank-check companies, cooling off amid increased regulatory oversight.</p><p><blockquote>6月之前，Clover的价值被腰斩，曾经火爆的通过SPAC或空白支票公司上市的公司市场在监管力度加大的情况下降温。</blockquote></p><p>The outspoken Palihapitiya has remained undaunted. He plans to list 26 blank-check companies -- one for each letter of the alphabet -- and he kicked off with four new companies targeting the biotech sector last week. Clover is now up more than 30% for the year after a six-day winning streak.</p><p><blockquote>直言不讳的帕里哈皮蒂亚仍然无所畏惧。他计划列出26家空白支票公司——《alphabet》的每封信对应一家——上周他首先列出了四家针对生物技术行业的新公司。在连续六天上涨后，Clover今年股价上涨超过30%。</blockquote></p><p>Clover’s head, Vivek Garipalli, who started off as a daytrader two decades ago, has embraced the support from retail investors.</p><p><blockquote>Clover的负责人Vivek Garipalli二十年前以日内交易者起家，现在已经接受了散户投资者的支持。</blockquote></p><p>“We are a big believer in the retail investor community,” Garipall said on the company’s earnings call in May, one which invited Reddit users to participate.</p><p><blockquote>“我们非常相信散户投资者群体，”加里帕尔在该公司5月份的收益看涨期权上表示，该活动邀请Reddit用户参加。</blockquote></p><p>Clover&nbsp;shares&nbsp;surged&nbsp;more&nbsp;than&nbsp;7%&nbsp;in&nbsp;the&nbsp;after&nbsp;hour&nbsp;trading.</p><p><blockquote>Clover股价在盘后交易中飙升超过7%。</blockquote></p><p></p>","source":"lsy1612507957220","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>Clover Health Roars to Record as Short Sellers Get Burned<blockquote>卖空者被烧伤，三叶草健康飙升至创纪录水平</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nClover Health Roars to Record as Short Sellers Get Burned<blockquote>卖空者被烧伤，三叶草健康飙升至创纪录水平</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-06-09 07:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Clover Health Inc., a health insurer backed by venture capitalist Chamath Palihapitiya, was swept up in meme-stock mania on Tuesday, posting a second day of wild gains as retail investors banded together to punish short-sellers betting against the company.</p><p><blockquote>（彭博）-由风险投资家Chamath Palihapitiya支持的健康保险公司Clover Health Inc.周二陷入了meme股票热潮，连续第二天大幅上涨，因为散户投资者联合起来惩罚做空该公司的卖空者。</blockquote></p><p>Clover rallied 86% to close at $22.15 in New York trading after briefly doubling intraday. The gains erased five months of losses in the stock -- which formed part of a broader selloff in Palihapitiya-backed companies -- in just two days. Trading volume in Clover was more than 29 times the three-month daily average on Tuesday, with a record 718 million shares changing hands.</p><p><blockquote>在盘中短暂翻倍后，Clover在纽约交易中上涨86%，收于22.15美元。这些涨幅在短短两天内抹去了该股五个月的跌幅，这是帕里哈皮蒂亚支持的公司更广泛抛售的一部分。周二，Clover的交易量是三个月日均交易量的29倍以上，换手量达到创纪录的7.18亿股。</blockquote></p><p>The sudden flurry of demand comes after retail traders realized that short-sellers had been swelling their bets against Clover, a move that left them vulnerable if the stock were to start rallying. The stock’s story -- like many retail plays -- has left behind fundamentals with shares trading above $20, that’s more than twice the average analyst estimate.</p><p><blockquote>在零售交易员意识到卖空者一直在加大对Clover的押注之后，需求突然激增，如果该股开始上涨，此举将使他们变得脆弱。与许多散户股票一样，该股的故事已经落后于基本面，股价交易价格高于20美元，是分析师平均预期的两倍多。</blockquote></p><p>On the Reddit forum WallStreetBets, chatter has built this week on the potential for a short-squeeze in the stock, following similar successful ploys on meme stocks including Workhorse Group Inc. and Richard Branson’s space exploration company Virgin Galactic Holdings Inc., which advanced 12% and 8.1%, respectively.</p><p><blockquote>在Reddit论坛WallStreetBets上，继Workhorse Group Inc.和理查德·布兰森(Richard Branson)的太空探索公司维珍银河控股公司(Virgin Galactic Holdings Inc.)等模因股票也采取了类似的成功策略后，chatter本周对该股进行了空头挤压的可能性进行了讨论。分别为12%和8.1%。</blockquote></p><p>Bearish bets in Clover have been steadily climbing since March and now stand at over $580 million or 44% of the public float, according to data from S3 Partners. Daytraders also touted the stock’s potential inclusion into the Russell indices -- a rebalancing of those benchmarks is expected toward the end of June.</p><p><blockquote>S3 Partners的数据显示，自3月份以来，对Clover的看跌押注一直在稳步攀升，目前已超过5.8亿美元，占公众持股量的44%。日内交易者还吹捧该股有可能被纳入罗素指数——预计这些基准将在6月底进行重新平衡。</blockquote></p><p>Read more: AMC, Wendy’s Lead Rally as Meme Stocks Rise for a Second Day</p><p><blockquote>阅读更多：随着模因股票连续第二天上涨，AMC、Wendy's领涨</blockquote></p><p>“Short sellers appear to be shorting into a rising market and overheated stocks, they are looking for a pullback off of these elevated levels,” said Ihor Dusaniwsky, S3’s managing director of predictive analytics.</p><p><blockquote>S3预测分析董事总经理Ihor Dusaniwsky表示：“卖空者似乎正在做空上涨的市场和过热的股票，他们正在寻求从这些高位回调。”</blockquote></p><p>Short sellers were down about $465 million on today’s move for a year-to-date loss of $517 million, he said.</p><p><blockquote>他表示，卖空者在今天的走势中下跌了约4.65亿美元，今年迄今损失了5.17亿美元。</blockquote></p><p>Clover declined to comment on the moves.</p><p><blockquote>Clover拒绝对这些举措发表评论。</blockquote></p><p>Meme Advance</p><p><blockquote>模因推进</blockquote></p><p>Other retail-trader favorites, such as AMC Entertainment Holdings Inc. and GameStop Corp., see-sawed on Tuesday amid heavy volume. Wendy’s Co., the latest addition to the retail-trader frenzy, climbed to a record amid touts on Reddit.</p><p><blockquote>AMC院线控股公司和游戏驿站公司等其他散户投资者的最爱周二在成交量巨大的情况下出现拉锯。温迪公司(Wendy's Co.)是零售商狂热的最新成员，在Reddit上的吹捧中攀升至创纪录水平。</blockquote></p><p>“The power of the network effect of social media entices more people to get involved, so then they start broadening their horizons, looking for other names that have high short interest and things like that,” said Michael O’Rourke, chief market strategist at JonesTrading.</p><p><blockquote>首席市场策略师迈克尔·奥罗克(Michael O'Rourke)表示：“社交媒体网络效应的力量吸引了更多人参与其中，因此他们开始拓宽视野，寻找其他具有高空头兴趣的公司等等。”琼斯交易。</blockquote></p><p>Before June, Clover saw its value split in half, with the once-hot market for companies brought to the market via SPACs, or blank-check companies, cooling off amid increased regulatory oversight.</p><p><blockquote>6月之前，Clover的价值被腰斩，曾经火爆的通过SPAC或空白支票公司上市的公司市场在监管力度加大的情况下降温。</blockquote></p><p>The outspoken Palihapitiya has remained undaunted. He plans to list 26 blank-check companies -- one for each letter of the alphabet -- and he kicked off with four new companies targeting the biotech sector last week. Clover is now up more than 30% for the year after a six-day winning streak.</p><p><blockquote>直言不讳的帕里哈皮蒂亚仍然无所畏惧。他计划列出26家空白支票公司——《alphabet》的每封信对应一家——上周他首先列出了四家针对生物技术行业的新公司。在连续六天上涨后，Clover今年股价上涨超过30%。</blockquote></p><p>Clover’s head, Vivek Garipalli, who started off as a daytrader two decades ago, has embraced the support from retail investors.</p><p><blockquote>Clover的负责人Vivek Garipalli二十年前以日内交易者起家，现在已经接受了散户投资者的支持。</blockquote></p><p>“We are a big believer in the retail investor community,” Garipall said on the company’s earnings call in May, one which invited Reddit users to participate.</p><p><blockquote>“我们非常相信散户投资者群体，”加里帕尔在该公司5月份的收益看涨期权上表示，该活动邀请Reddit用户参加。</blockquote></p><p>Clover&nbsp;shares&nbsp;surged&nbsp;more&nbsp;than&nbsp;7%&nbsp;in&nbsp;the&nbsp;after&nbsp;hour&nbsp;trading.</p><p><blockquote>Clover股价在盘后交易中飙升超过7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/palihapitiya-clover-roars-record-short-143312310.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CLOV":"Clover Health Corp"},"source_url":"https://finance.yahoo.com/news/palihapitiya-clover-roars-record-short-143312310.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148360854","content_text":"(Bloomberg) -- Clover Health Inc., a health insurer backed by venture capitalist Chamath Palihapitiya, was swept up in meme-stock mania on Tuesday, posting a second day of wild gains as retail investors banded together to punish short-sellers betting against the company.Clover rallied 86% to close at $22.15 in New York trading after briefly doubling intraday. The gains erased five months of losses in the stock -- which formed part of a broader selloff in Palihapitiya-backed companies -- in just two days. Trading volume in Clover was more than 29 times the three-month daily average on Tuesday, with a record 718 million shares changing hands.The sudden flurry of demand comes after retail traders realized that short-sellers had been swelling their bets against Clover, a move that left them vulnerable if the stock were to start rallying. The stock’s story -- like many retail plays -- has left behind fundamentals with shares trading above $20, that’s more than twice the average analyst estimate.On the Reddit forum WallStreetBets, chatter has built this week on the potential for a short-squeeze in the stock, following similar successful ploys on meme stocks including Workhorse Group Inc. and Richard Branson’s space exploration company Virgin Galactic Holdings Inc., which advanced 12% and 8.1%, respectively.Bearish bets in Clover have been steadily climbing since March and now stand at over $580 million or 44% of the public float, according to data from S3 Partners. Daytraders also touted the stock’s potential inclusion into the Russell indices -- a rebalancing of those benchmarks is expected toward the end of June.Read more: AMC, Wendy’s Lead Rally as Meme Stocks Rise for a Second Day“Short sellers appear to be shorting into a rising market and overheated stocks, they are looking for a pullback off of these elevated levels,” said Ihor Dusaniwsky, S3’s managing director of predictive analytics.Short sellers were down about $465 million on today’s move for a year-to-date loss of $517 million, he said.Clover declined to comment on the moves.Meme AdvanceOther retail-trader favorites, such as AMC Entertainment Holdings Inc. and GameStop Corp., see-sawed on Tuesday amid heavy volume. Wendy’s Co., the latest addition to the retail-trader frenzy, climbed to a record amid touts on Reddit.“The power of the network effect of social media entices more people to get involved, so then they start broadening their horizons, looking for other names that have high short interest and things like that,” said Michael O’Rourke, chief market strategist at JonesTrading.Before June, Clover saw its value split in half, with the once-hot market for companies brought to the market via SPACs, or blank-check companies, cooling off amid increased regulatory oversight.The outspoken Palihapitiya has remained undaunted. He plans to list 26 blank-check companies -- one for each letter of the alphabet -- and he kicked off with four new companies targeting the biotech sector last week. Clover is now up more than 30% for the year after a six-day winning streak.Clover’s head, Vivek Garipalli, who started off as a daytrader two decades ago, has embraced the support from retail investors.“We are a big believer in the retail investor community,” Garipall said on the company’s earnings call in May, one which invited Reddit users to participate.Clover shares surged more than 7% in the after hour trading.","news_type":1,"symbols_score_info":{"CLOV":0.9}},"isVote":1,"tweetType":1,"viewCount":641,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":185802698,"gmtCreate":1623639263714,"gmtModify":1634030803663,"author":{"id":"3582520228861009","authorId":"3582520228861009","name":"CPCat","avatar":"https://static.tigerbbs.com/3bafaf3d39abfb78a4bedf785310721a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582520228861009","idStr":"3582520228861009"},"themes":[],"htmlText":"It has been quite a ride for&nbsp;<a href=\"https://laohu8.com/S/BIDU\">$Baidu(BIDU)$</a>. I think it can get back to the 250-300 level.","listText":"It has been quite a ride for&nbsp;<a href=\"https://laohu8.com/S/BIDU\">$Baidu(BIDU)$</a>. I think it can get back to the 250-300 level.","text":"It has been quite a ride for $Baidu(BIDU)$. I think it can get back to the 250-300 level.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/185802698","repostId":"2142250206","repostType":4,"isVote":1,"tweetType":1,"viewCount":1142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}