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宙斯的爱子

2021-08-23

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2021-08-30

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2021-08-26

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3 Reasons to Buy This Cathie Wood Growth Stock, and 1 Reason Not to<blockquote>购买Cathie Wood成长型股票的3个理由和不购买的1个理由</blockquote>

宙斯的爱子

2021-07-29

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S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes<blockquote>标普500收于当日低点；鲍威尔称美联储距离加息还有很长的路要走</blockquote>

宙斯的爱子

2021-07-25

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宙斯的爱子

2021-08-21

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Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>

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2021-08-07

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2021-08-02

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宙斯的爱子

2021-08-24

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宙斯的爱子

2021-08-22

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07:40","market":"us","language":"en","title":"Is the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126654067","media":"MarketWatch","summary":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be cl","content":"<p>It is unofficially summer’s last hurrah for Wall Street investors.</p><p><blockquote>对于华尔街投资者来说，这是非正式的夏季最后一次欢呼。</blockquote></p><p> U.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.</p><p><blockquote>美国金融市场将于9月6日周一因劳动节休市，这标志着美国为期三天的周末，此前股市经历了一段非常壮观的走势。尽管人们担心冠状病毒德尔塔变异毒株的蔓延，并对美联储去年大流行开始时实施的宽松货币政策最终回滚的时间表感到不安，但股市还是出现了反弹。</blockquote></p><p> On Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc.&nbsp;-owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average,&nbsp;S&amp;P 500&nbsp;or Nasdaq Composite indexes.</p><p><blockquote>周一，包括洲际交易所旗下的纽约证券交易所和纳斯达克在内的美国证券交易所将休市，因此不要寻找道琼斯工业平均指数、标准普尔500指数或纳斯达克综合指数等个股或指数的任何走势。</blockquote></p><p> The S&amp;P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite&nbsp;was on track to book its 35th&nbsp;all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.</p><p><blockquote>标普500在2021年已经创下了54个历史收盘新高，并有望在周五创下第55个历史新高，而纳斯达克综合指数有望创下今年第35个历史新高。周五下午，道琼斯指数较8月16日的纪录上涨了不到一个百分点。</blockquote></p><p> Sifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was&nbsp;yielding around 1.33%&nbsp;after the U.S. August jobs report came in weaker than expected.</p><p><blockquote>证券行业固定收益贸易组织Sifma也建议债券市场在劳动节休市，包括10年期国债交易，在美国8月就业报告公布后，该国债收益率约为1.33%。低于预期。</blockquote></p><p> However, the&nbsp;Labor Department’s employment report,which showed that&nbsp;235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.</p><p><blockquote>然而，美国劳工部的就业报告显示，8月份新增就业岗位23.5万个，远低于预期的70多万个，但这未能降低主权债务投资者对美联储近期宣布缩减每月1200亿美元美国国债和抵押贷款支持证券购买规模的预期。</blockquote></p><p> Trading in most commodity futures, including Nymex crude-oil&nbsp;and Comex gold,on U.S. exchanges will also be halted Monday.</p><p><blockquote>美国交易所的大多数商品期货交易，包括纽约商品交易所原油和纽约商品交易所黄金，也将于周一停止。</blockquote></p><p> Is there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?</p><p><blockquote>除了在美国度假和烧烤之外，这个假期对普通投资者还有什么意义吗？</blockquote></p><p> Probably not.</p><p><blockquote>应该不会吧。</blockquote></p><p> But the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.</p><p><blockquote>但根据道琼斯市场数据，近年来，五月阵亡将士纪念日至九月劳动节期间对投资者来说是一段看涨的时期。例如，道琼斯指数在此期间上涨了约2%，平均涨幅为1.3%，65%的时间创造了获胜记录。在过去的六个阵亡将士纪念日/劳动节期间，道琼斯指数目前正在享受连胜，这是自1989年以来最长的连胜。去年，市场同期上涨了近15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3f0f061a4ddd2ca31c53f8aa68e3cce\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> The S&amp;P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.</p><p><blockquote>标普500也取得了类似的连胜，在阵亡将士纪念日至劳动节期间迄今为止已上涨近8%。过去几年同期上涨了70%以上，平均涨幅为1.7%。2020年期间，大盘指数上涨了16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c780a46e32d055feb3e3f5e10fc987f\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> But if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s&nbsp;Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.</p><p><blockquote>但如果劳动节交易中存在真正的趋势，那么MarketWatch的Steve Goldstein援引Raymond James策略师Tavis McCourt的话说，在过去两年中，股市存在很大的价值和周期性偏差。节后股市，2018年，夏季接近尾声后市场基本崩溃。</blockquote></p><p> It is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.</p><p><blockquote>不可能知道这一次股市涨势是否会以类似的方式逐渐消失，但华尔街越来越多的人认为估值过高，股指将从当前高度回调至少5%或更好。</blockquote></p><p> Markets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100&nbsp;index and the pan-European Stoxx Europe 600&nbsp;will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng&nbsp;and the Shanghai Composite Index.</p><p><blockquote>市场将于周二恢复照常营业，当然，欧洲证券交易所，包括伦敦富时100指数和泛欧斯托克欧洲600指数，以及亚洲市场、日经225指数、香港恒生指数和上证综合指数。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</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; 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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\">\nIs the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-06 07:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It is unofficially summer’s last hurrah for Wall Street investors.</p><p><blockquote>对于华尔街投资者来说，这是非正式的夏季最后一次欢呼。</blockquote></p><p> U.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.</p><p><blockquote>美国金融市场将于9月6日周一因劳动节休市，这标志着美国为期三天的周末，此前股市经历了一段非常壮观的走势。尽管人们担心冠状病毒德尔塔变异毒株的蔓延，并对美联储去年大流行开始时实施的宽松货币政策最终回滚的时间表感到不安，但股市还是出现了反弹。</blockquote></p><p> On Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc.&nbsp;-owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average,&nbsp;S&amp;P 500&nbsp;or Nasdaq Composite indexes.</p><p><blockquote>周一，包括洲际交易所旗下的纽约证券交易所和纳斯达克在内的美国证券交易所将休市，因此不要寻找道琼斯工业平均指数、标准普尔500指数或纳斯达克综合指数等个股或指数的任何走势。</blockquote></p><p> The S&amp;P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite&nbsp;was on track to book its 35th&nbsp;all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.</p><p><blockquote>标普500在2021年已经创下了54个历史收盘新高，并有望在周五创下第55个历史新高，而纳斯达克综合指数有望创下今年第35个历史新高。周五下午，道琼斯指数较8月16日的纪录上涨了不到一个百分点。</blockquote></p><p> Sifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was&nbsp;yielding around 1.33%&nbsp;after the U.S. August jobs report came in weaker than expected.</p><p><blockquote>证券行业固定收益贸易组织Sifma也建议债券市场在劳动节休市，包括10年期国债交易，在美国8月就业报告公布后，该国债收益率约为1.33%。低于预期。</blockquote></p><p> However, the&nbsp;Labor Department’s employment report,which showed that&nbsp;235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.</p><p><blockquote>然而，美国劳工部的就业报告显示，8月份新增就业岗位23.5万个，远低于预期的70多万个，但这未能降低主权债务投资者对美联储近期宣布缩减每月1200亿美元美国国债和抵押贷款支持证券购买规模的预期。</blockquote></p><p> Trading in most commodity futures, including Nymex crude-oil&nbsp;and Comex gold,on U.S. exchanges will also be halted Monday.</p><p><blockquote>美国交易所的大多数商品期货交易，包括纽约商品交易所原油和纽约商品交易所黄金，也将于周一停止。</blockquote></p><p> Is there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?</p><p><blockquote>除了在美国度假和烧烤之外，这个假期对普通投资者还有什么意义吗？</blockquote></p><p> Probably not.</p><p><blockquote>应该不会吧。</blockquote></p><p> But the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.</p><p><blockquote>但根据道琼斯市场数据，近年来，五月阵亡将士纪念日至九月劳动节期间对投资者来说是一段看涨的时期。例如，道琼斯指数在此期间上涨了约2%，平均涨幅为1.3%，65%的时间创造了获胜记录。在过去的六个阵亡将士纪念日/劳动节期间，道琼斯指数目前正在享受连胜，这是自1989年以来最长的连胜。去年，市场同期上涨了近15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3f0f061a4ddd2ca31c53f8aa68e3cce\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> The S&amp;P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.</p><p><blockquote>标普500也取得了类似的连胜，在阵亡将士纪念日至劳动节期间迄今为止已上涨近8%。过去几年同期上涨了70%以上，平均涨幅为1.7%。2020年期间，大盘指数上涨了16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c780a46e32d055feb3e3f5e10fc987f\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> But if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s&nbsp;Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.</p><p><blockquote>但如果劳动节交易中存在真正的趋势，那么MarketWatch的Steve Goldstein援引Raymond James策略师Tavis McCourt的话说，在过去两年中，股市存在很大的价值和周期性偏差。节后股市，2018年，夏季接近尾声后市场基本崩溃。</blockquote></p><p> It is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.</p><p><blockquote>不可能知道这一次股市涨势是否会以类似的方式逐渐消失，但华尔街越来越多的人认为估值过高，股指将从当前高度回调至少5%或更好。</blockquote></p><p> Markets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100&nbsp;index and the pan-European Stoxx Europe 600&nbsp;will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng&nbsp;and the Shanghai Composite Index.</p><p><blockquote>市场将于周二恢复照常营业，当然，欧洲证券交易所，包括伦敦富时100指数和泛欧斯托克欧洲600指数，以及亚洲市场、日经225指数、香港恒生指数和上证综合指数。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","ICE":"洲际交易所",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126654067","content_text":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.\nOn Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc. -owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average, S&P 500 or Nasdaq Composite indexes.\nThe S&P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite was on track to book its 35th all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.\nSifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was yielding around 1.33% after the U.S. August jobs report came in weaker than expected.\nHowever, the Labor Department’s employment report,which showed that 235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.\nTrading in most commodity futures, including Nymex crude-oil and Comex gold,on U.S. exchanges will also be halted Monday.\nIs there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?\nProbably not.\nBut the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.\nDOW JONES MARKET DATA\nThe S&P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.\nDOW JONES MARKET DATA\nBut if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.\nIt is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.\nMarkets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100 index and the pan-European Stoxx Europe 600 will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng and the Shanghai Composite Index.","news_type":1,"symbols_score_info":{"ICE":0.9,".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1843,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811412113,"gmtCreate":1630336086632,"gmtModify":1704958750780,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/811412113","repostId":"1132759749","repostType":4,"isVote":1,"tweetType":1,"viewCount":1614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810418948,"gmtCreate":1629991567084,"gmtModify":1704954345147,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/810418948","repostId":"1181699797","repostType":4,"repost":{"id":"1181699797","kind":"news","pubTimestamp":1629991501,"share":"https://www.laohu8.com/m/news/1181699797?lang=zh_CN&edition=full","pubTime":"2021-08-26 23:25","market":"us","language":"en","title":"3 Reasons to Buy This Cathie Wood Growth Stock, and 1 Reason Not to<blockquote>购买Cathie Wood成长型股票的3个理由和不购买的1个理由</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181699797","media":"Motley Fool","summary":"Key Points\n\nCathie Wood's ARK Innovation ETF owns $1.2 billion of this growth stock.\nThis beaten-dow","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Cathie Wood's ARK Innovation ETF owns $1.2 billion of this growth stock.</li>  <li>This beaten-down growth stock is the third-largest holding in the ARK Innovation ETF.</li>  <li>The stock is down 25% in the last month and is trading at a forward price-to-sales ratio of 17.</li> </ul> As of this writing,<b>Roku</b>(NASDAQ:ROKU)&nbsp;is the third-largest holding in Cathie Wood's&nbsp;<b>ARK Innovation ETF</b>&nbsp;portfolio of stocks. The popular asset manager's fund holds over 3.2 million shares of the enabler of streaming content. That's a total value of almost $1.2 billion and makes up 5.4% of the portfolio.</p><p><blockquote><ul><li>Cathie Wood的ARK Innovation ETF拥有12亿美元的这只成长型股票。</li><li>这只遭受重创的成长型股票是ARK Innovation ETF的第三大持股。</li><li>该股上个月下跌了25%，预期市销率为17。</li></ul>在撰写本文时，<b>Roku</b>（纳斯达克：ROKU）是Cathie Wood的第三大持股<b>方舟创新ETF</b>股票投资组合。这家受欢迎的资产管理公司的基金持有超过320万股流媒体内容推动者的股票。总价值近12亿美元，占投资组合的5.4%。</blockquote></p><p> Roku's stock price is down 25% in the last month as the market has turned sour on so-called stay-at-home stocks that benefited during the pandemic. However, that could be a buying opportunity for long-term investors.</p><p><blockquote>Roku的股价上个月下跌了25%，因为市场对在大流行期间受益的所谓居家股票产生了负面影响。然而，对于长期投资者来说，这可能是一个买入机会。</blockquote></p><p> Let's look at three reasons to buy this Cathie Wood favorite and one reason for caution.</p><p><blockquote>让我们来看看购买这款Cathie Wood最爱的三个理由和一个谨慎的理由。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60f745a9bfdad7ca6a5f3c3bc1009467\" tg-width=\"2000\" tg-height=\"1334\" 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>1. More content is shifting to streaming from linear TV</b></p><p><blockquote><b>1.更多内容正从线性电视转向流媒体</b></blockquote></p><p> More and more consumers are switching from linear TV connections to streaming content. Still, there is a long way to go before the transition runs its course. One estimate suggests in 18- to 45-year-olds, only 39% of their TV watching is streaming, highlighting that there is plenty of room for the shift to continue.</p><p><blockquote>越来越多的消费者正在从线性电视连接转向流媒体内容。尽管如此，在过渡完成之前还有很长的路要走。一项估计表明，在18至45岁的人群中，只有39%的电视观看是流媒体，这突显出这种转变还有很大的继续空间。</blockquote></p><p> <b>2. Roku has a great operating system that customers love</b></p><p><blockquote><b>2.Roku拥有客户喜爱的出色操作系统</b></blockquote></p><p> Roku enables this transition by selling hardware (streaming players) that connects TVs to its operating system. Additionally, it works with manufacturers to have its operating system built into TVs. Indeed, Roku is the leading operating system in TVs in the U.S. and Canada, and it's making good progress in Brazil and Mexico. Roku's system is proven to be reliable and reduces costs for manufacturers. Those features have helped Roku attract 55.1 million active accounts, up 28% from last year; a figure that is likely to grow as Roku continues its international expansion.</p><p><blockquote>Roku通过销售将电视连接到其操作系统的硬件（流媒体播放器）来实现这一转变。此外，它还与制造商合作，将其操作系统内置到电视中。事实上，Roku是美国和加拿大领先的电视操作系统，它在巴西和墨西哥也取得了良好的进展。Roku的系统被证明是可靠的，并降低了制造商的成本。这些功能帮助Roku吸引了5510万活跃账户，比去年增长了28%；随着Roku继续其国际扩张，这一数字可能会增长。</blockquote></p><p> <b>3. Roku is expanding internationally</b></p><p><blockquote><b>3.Roku正在向国际扩张</b></blockquote></p><p> The next market Roku will enter is Germany later this year. If Roku can match the success it's achieving in existing markets -- and there is no reason to think it won't -- it can continue to attract new customers. Indeed, the plan from management on international expansion is to keep doing more of the same, since it's working so well. During the&nbsp;second-quarter earnings call&nbsp;earlier this month, founder and CEO Anthony Wood commented:</p><p><blockquote>Roku将于今年晚些时候进入的下一个市场是德国。如果Roku能够达到其在现有市场取得的成功——而且没有理由认为它不会——它就可以继续吸引新客户。事实上，管理层关于国际扩张的计划是继续做更多同样的事情，因为它运作得非常好。在本月早些时候的第二季度财报看涨期权上，创始人兼首席执行官Anthony Wood评论道：</blockquote></p><p>   In terms of growing active accounts globally, the strategy we're using is the same that worked for us well in the U.S., which is to focus on building active accounts, well, in terms of our business model internationally, it's to focus on building active accounts, engaging those users and then monetizing those users. And the way we are building active accounts is through selling our streaming players and licensing our operating system to TV manufacturers and coming to market with Roku TVs. Both of those are working well for us.  <b>A concern? Roku's valuation is not cheap</b></p><p><blockquote>就增加全球活跃账户而言，我们使用的策略与在美国行之有效的策略相同，即专注于建立活跃账户，就我们在国际上的商业模式而言，专注于建立活跃账户，吸引这些用户，然后将这些用户货币化。我们建立活跃账户的方式是销售我们的流媒体播放器，将我们的操作系统授权给电视制造商，并与Roku电视一起进入市场。这两者对我们都很有效。<b>担心？Roku的估值并不便宜</b></blockquote></p><p> The one reason to be hesitant about Roku stock right now is that it isn't cheap, despite falling in value by 25% in the last month. It's trading at a forward price-to-sales ratio of 16.73, down from nearly 25 earlier in the year. To be sure, Roku has excellent long-run prospects. However, that might already be priced into the stock at this price. Furthermore, the company has challenges in the near term, such as the negative effects of economic reopenings and&nbsp;supply chain issues, which are causing shortages in materials and harming profit margins.</p><p><blockquote>目前对Roku股票犹豫不决的一个原因是，尽管上个月股价下跌了25%，但它并不便宜。该公司的远期市销率为16.73，低于今年早些时候的近25。可以肯定的是，Roku拥有良好的长期前景。然而，这可能已经以这个价格计入股票中。此外，该公司短期内还面临挑战，例如经济重新开放和供应链问题的负面影响，这些问题导致材料短缺并损害利润率。</blockquote></p><p> All things considered, it may be prudent for investors to wait for an additional&nbsp;pullback&nbsp;in the stock price before accumulating shares in Roku. Or you could wait for supply chain issues and financial impacts from economic reopenings to play out before buying Roku&nbsp;stock.</p><p><blockquote>综合考虑，投资者在增持Roku股票之前等待股价进一步回调可能是谨慎的做法。或者，您可以等待供应链问题和经济重新开放带来的财务影响显现出来后再购买Roku股票。</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 Reasons to Buy This Cathie Wood Growth Stock, and 1 Reason Not to<blockquote>购买Cathie Wood成长型股票的3个理由和不购买的1个理由</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Reasons to Buy This Cathie Wood Growth Stock, and 1 Reason Not to<blockquote>购买Cathie Wood成长型股票的3个理由和不购买的1个理由</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\">2021-08-26 23:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Cathie Wood's ARK Innovation ETF owns $1.2 billion of this growth stock.</li>  <li>This beaten-down growth stock is the third-largest holding in the ARK Innovation ETF.</li>  <li>The stock is down 25% in the last month and is trading at a forward price-to-sales ratio of 17.</li> </ul> As of this writing,<b>Roku</b>(NASDAQ:ROKU)&nbsp;is the third-largest holding in Cathie Wood's&nbsp;<b>ARK Innovation ETF</b>&nbsp;portfolio of stocks. The popular asset manager's fund holds over 3.2 million shares of the enabler of streaming content. That's a total value of almost $1.2 billion and makes up 5.4% of the portfolio.</p><p><blockquote><ul><li>Cathie Wood的ARK Innovation ETF拥有12亿美元的这只成长型股票。</li><li>这只遭受重创的成长型股票是ARK Innovation ETF的第三大持股。</li><li>该股上个月下跌了25%，预期市销率为17。</li></ul>在撰写本文时，<b>Roku</b>（纳斯达克：ROKU）是Cathie Wood的第三大持股<b>方舟创新ETF</b>股票投资组合。这家受欢迎的资产管理公司的基金持有超过320万股流媒体内容推动者的股票。总价值近12亿美元，占投资组合的5.4%。</blockquote></p><p> Roku's stock price is down 25% in the last month as the market has turned sour on so-called stay-at-home stocks that benefited during the pandemic. However, that could be a buying opportunity for long-term investors.</p><p><blockquote>Roku的股价上个月下跌了25%，因为市场对在大流行期间受益的所谓居家股票产生了负面影响。然而，对于长期投资者来说，这可能是一个买入机会。</blockquote></p><p> Let's look at three reasons to buy this Cathie Wood favorite and one reason for caution.</p><p><blockquote>让我们来看看购买这款Cathie Wood最爱的三个理由和一个谨慎的理由。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60f745a9bfdad7ca6a5f3c3bc1009467\" tg-width=\"2000\" tg-height=\"1334\" 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>1. More content is shifting to streaming from linear TV</b></p><p><blockquote><b>1.更多内容正从线性电视转向流媒体</b></blockquote></p><p> More and more consumers are switching from linear TV connections to streaming content. Still, there is a long way to go before the transition runs its course. One estimate suggests in 18- to 45-year-olds, only 39% of their TV watching is streaming, highlighting that there is plenty of room for the shift to continue.</p><p><blockquote>越来越多的消费者正在从线性电视连接转向流媒体内容。尽管如此，在过渡完成之前还有很长的路要走。一项估计表明，在18至45岁的人群中，只有39%的电视观看是流媒体，这突显出这种转变还有很大的继续空间。</blockquote></p><p> <b>2. Roku has a great operating system that customers love</b></p><p><blockquote><b>2.Roku拥有客户喜爱的出色操作系统</b></blockquote></p><p> Roku enables this transition by selling hardware (streaming players) that connects TVs to its operating system. Additionally, it works with manufacturers to have its operating system built into TVs. Indeed, Roku is the leading operating system in TVs in the U.S. and Canada, and it's making good progress in Brazil and Mexico. Roku's system is proven to be reliable and reduces costs for manufacturers. Those features have helped Roku attract 55.1 million active accounts, up 28% from last year; a figure that is likely to grow as Roku continues its international expansion.</p><p><blockquote>Roku通过销售将电视连接到其操作系统的硬件（流媒体播放器）来实现这一转变。此外，它还与制造商合作，将其操作系统内置到电视中。事实上，Roku是美国和加拿大领先的电视操作系统，它在巴西和墨西哥也取得了良好的进展。Roku的系统被证明是可靠的，并降低了制造商的成本。这些功能帮助Roku吸引了5510万活跃账户，比去年增长了28%；随着Roku继续其国际扩张，这一数字可能会增长。</blockquote></p><p> <b>3. Roku is expanding internationally</b></p><p><blockquote><b>3.Roku正在向国际扩张</b></blockquote></p><p> The next market Roku will enter is Germany later this year. If Roku can match the success it's achieving in existing markets -- and there is no reason to think it won't -- it can continue to attract new customers. Indeed, the plan from management on international expansion is to keep doing more of the same, since it's working so well. During the&nbsp;second-quarter earnings call&nbsp;earlier this month, founder and CEO Anthony Wood commented:</p><p><blockquote>Roku将于今年晚些时候进入的下一个市场是德国。如果Roku能够达到其在现有市场取得的成功——而且没有理由认为它不会——它就可以继续吸引新客户。事实上，管理层关于国际扩张的计划是继续做更多同样的事情，因为它运作得非常好。在本月早些时候的第二季度财报看涨期权上，创始人兼首席执行官Anthony Wood评论道：</blockquote></p><p>   In terms of growing active accounts globally, the strategy we're using is the same that worked for us well in the U.S., which is to focus on building active accounts, well, in terms of our business model internationally, it's to focus on building active accounts, engaging those users and then monetizing those users. And the way we are building active accounts is through selling our streaming players and licensing our operating system to TV manufacturers and coming to market with Roku TVs. Both of those are working well for us.  <b>A concern? Roku's valuation is not cheap</b></p><p><blockquote>就增加全球活跃账户而言，我们使用的策略与在美国行之有效的策略相同，即专注于建立活跃账户，就我们在国际上的商业模式而言，专注于建立活跃账户，吸引这些用户，然后将这些用户货币化。我们建立活跃账户的方式是销售我们的流媒体播放器，将我们的操作系统授权给电视制造商，并与Roku电视一起进入市场。这两者对我们都很有效。<b>担心？Roku的估值并不便宜</b></blockquote></p><p> The one reason to be hesitant about Roku stock right now is that it isn't cheap, despite falling in value by 25% in the last month. It's trading at a forward price-to-sales ratio of 16.73, down from nearly 25 earlier in the year. To be sure, Roku has excellent long-run prospects. However, that might already be priced into the stock at this price. Furthermore, the company has challenges in the near term, such as the negative effects of economic reopenings and&nbsp;supply chain issues, which are causing shortages in materials and harming profit margins.</p><p><blockquote>目前对Roku股票犹豫不决的一个原因是，尽管上个月股价下跌了25%，但它并不便宜。该公司的远期市销率为16.73，低于今年早些时候的近25。可以肯定的是，Roku拥有良好的长期前景。然而，这可能已经以这个价格计入股票中。此外，该公司短期内还面临挑战，例如经济重新开放和供应链问题的负面影响，这些问题导致材料短缺并损害利润率。</blockquote></p><p> All things considered, it may be prudent for investors to wait for an additional&nbsp;pullback&nbsp;in the stock price before accumulating shares in Roku. Or you could wait for supply chain issues and financial impacts from economic reopenings to play out before buying Roku&nbsp;stock.</p><p><blockquote>综合考虑，投资者在增持Roku股票之前等待股价进一步回调可能是谨慎的做法。或者，您可以等待供应链问题和经济重新开放带来的财务影响显现出来后再购买Roku股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/08/26/3-reasons-to-buy-this-cathie-wood-growth-stock-and/\">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":{"ARKK":"ARK Innovation ETF","ROKU":"Roku Inc"},"source_url":"https://www.fool.com/investing/2021/08/26/3-reasons-to-buy-this-cathie-wood-growth-stock-and/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181699797","content_text":"Key Points\n\nCathie Wood's ARK Innovation ETF owns $1.2 billion of this growth stock.\nThis beaten-down growth stock is the third-largest holding in the ARK Innovation ETF.\nThe stock is down 25% in the last month and is trading at a forward price-to-sales ratio of 17.\n\nAs of this writing,Roku(NASDAQ:ROKU) is the third-largest holding in Cathie Wood's ARK Innovation ETF portfolio of stocks. The popular asset manager's fund holds over 3.2 million shares of the enabler of streaming content. That's a total value of almost $1.2 billion and makes up 5.4% of the portfolio.\nRoku's stock price is down 25% in the last month as the market has turned sour on so-called stay-at-home stocks that benefited during the pandemic. However, that could be a buying opportunity for long-term investors.\nLet's look at three reasons to buy this Cathie Wood favorite and one reason for caution.\nIMAGE SOURCE: GETTY IMAGES.\n1. More content is shifting to streaming from linear TV\nMore and more consumers are switching from linear TV connections to streaming content. Still, there is a long way to go before the transition runs its course. One estimate suggests in 18- to 45-year-olds, only 39% of their TV watching is streaming, highlighting that there is plenty of room for the shift to continue.\n2. Roku has a great operating system that customers love\nRoku enables this transition by selling hardware (streaming players) that connects TVs to its operating system. Additionally, it works with manufacturers to have its operating system built into TVs. Indeed, Roku is the leading operating system in TVs in the U.S. and Canada, and it's making good progress in Brazil and Mexico. Roku's system is proven to be reliable and reduces costs for manufacturers. Those features have helped Roku attract 55.1 million active accounts, up 28% from last year; a figure that is likely to grow as Roku continues its international expansion.\n3. Roku is expanding internationally\nThe next market Roku will enter is Germany later this year. If Roku can match the success it's achieving in existing markets -- and there is no reason to think it won't -- it can continue to attract new customers. Indeed, the plan from management on international expansion is to keep doing more of the same, since it's working so well. During the second-quarter earnings call earlier this month, founder and CEO Anthony Wood commented:\n\n In terms of growing active accounts globally, the strategy we're using is the same that worked for us well in the U.S., which is to focus on building active accounts, well, in terms of our business model internationally, it's to focus on building active accounts, engaging those users and then monetizing those users. And the way we are building active accounts is through selling our streaming players and licensing our operating system to TV manufacturers and coming to market with Roku TVs. Both of those are working well for us.\n\nA concern? Roku's valuation is not cheap\nThe one reason to be hesitant about Roku stock right now is that it isn't cheap, despite falling in value by 25% in the last month. It's trading at a forward price-to-sales ratio of 16.73, down from nearly 25 earlier in the year. To be sure, Roku has excellent long-run prospects. However, that might already be priced into the stock at this price. Furthermore, the company has challenges in the near term, such as the negative effects of economic reopenings and supply chain issues, which are causing shortages in materials and harming profit margins.\nAll things considered, it may be prudent for investors to wait for an additional pullback in the stock price before accumulating shares in Roku. Or you could wait for supply chain issues and financial impacts from economic reopenings to play out before buying Roku stock.","news_type":1,"symbols_score_info":{"ARKK":0.9,"ROKU":0.9}},"isVote":1,"tweetType":1,"viewCount":1670,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834678346,"gmtCreate":1629802514985,"gmtModify":1633682352021,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/834678346","repostId":"2161000317","repostType":4,"isVote":1,"tweetType":1,"viewCount":1354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835434898,"gmtCreate":1629730820814,"gmtModify":1633682850950,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/835434898","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":1700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832239943,"gmtCreate":1629635252082,"gmtModify":1633683650487,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/832239943","repostId":"1133515985","repostType":4,"isVote":1,"tweetType":1,"viewCount":1575,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836468849,"gmtCreate":1629515381981,"gmtModify":1633684308004,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836468849","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohu8.com/m/news/1151608193?lang=zh_CN&edition=full","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有股票数年而不是租用数天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-23 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有股票数年而不是租用数天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CDNS":"铿腾电子","SNPS":"新思科技","AAPL":"苹果","GOOGL":"谷歌A","SSNLF":"三星电子","ON":"安森美半导体","SOXX":"iShares费城交易所半导体ETF","ASML":"阿斯麦","QCOM":"高通","GOOG":"谷歌","NVDA":"英伟达","TSM":"台积电","AMZN":"亚马逊"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including Ford cars.","news_type":1,"symbols_score_info":{"TSM":0.9,"GOOG":0.9,"AMZN":0.9,"GOOGL":0.9,"SNPS":0.9,"NVDA":0.9,"ON":0.9,"AAPL":0.9,"CDNS":0.9,"SOXX":0.9,"SSNLF":0.9,"QCOM":0.9,"ASML":0.9}},"isVote":1,"tweetType":1,"viewCount":2920,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836607708,"gmtCreate":1629473228004,"gmtModify":1633684569314,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/836607708","repostId":"1189743420","repostType":4,"repost":{"id":"1189743420","kind":"news","pubTimestamp":1629472706,"share":"https://www.laohu8.com/m/news/1189743420?lang=zh_CN&edition=full","pubTime":"2021-08-20 23:18","market":"us","language":"en","title":"Is Snowflake Stock A Buy? Software Maker Sets Path To $10 Billion In Revenue By 2028<blockquote>雪花股票值得买入吗？软件制造商计划到2028年收入达到100亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189743420","media":"investors","summary":"Think of Snowflake stock as a proxy on the torrid growth of cloud computing giants Amazon.com (AMZN)","content":"<p>Think of <a href=\"https://laohu8.com/S/SNOW\">Snowflake</a> stock as a proxy on the torrid growth of cloud computing giants&nbsp;<b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b>&nbsp;(AMZN),&nbsp;<b><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a></b>&nbsp;(MSFT) and&nbsp;<b><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a></b>'s (GOOGL) Google.</p><p><blockquote>想到<a href=\"https://laohu8.com/S/SNOW\">雪花</a>股票作为云计算巨头快速增长的代表<b><a href=\"https://laohu8.com/S/AMZN\">亚马逊</a></b>（亚马逊），<b><a href=\"https://laohu8.com/S/MSFT\">微软</a></b>（MSFT）和<b><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a></b>（GOOGL）谷歌。</blockquote></p><p> Many companies are turning to cloud computing services as part of \"digital transformation\" projects that aim to gain business insights from crunching massive volumes of data. The cloud computing titans offer their own data analytics and management tools.</p><p><blockquote>许多公司正在转向云计算服务，作为“数字化转型”项目的一部分，旨在从处理海量数据中获得商业洞察力。云计算巨头提供自己的数据分析和管理工具。</blockquote></p><p> In a \"coopetition\" model, the&nbsp;cloud giants&nbsp;give their customers a green light to buy&nbsp;<b>Snowflake</b>'s (SNOW) software. The reason is Snowflake's tools are better at some key tasks, such as letting companies compile, view, analyze and share massive amounts of data in an easy way.</p><p><blockquote>在“合作竞争”模式下，云巨头为客户的购买开绿灯<b>雪花</b>的（雪）软件。原因是Snowflake的工具在一些关键任务上更好，例如让公司以简单的方式编译、查看、分析和共享大量数据。</blockquote></p><p> Nearly two-fifths of Fortune 500 companies use Snowflake's software in the cloud as they move away from on-premise data warehousing products from&nbsp;<b><a href=\"https://laohu8.com/S/TDC\">Teradata</a></b>&nbsp;(TDC),&nbsp;<b><a href=\"https://laohu8.com/S/ORCL\">Oracle</a></b>&nbsp;(ORCL) and&nbsp;<b><a href=\"https://laohu8.com/S/IBM\">IBM</a></b>&nbsp;(IBM).</p><p><blockquote>近五分之二的财富500强公司在云中使用Snowflake的软件，因为它们正在从<b><a href=\"https://laohu8.com/S/TDC\">Teradata</a></b>（贸发局），<b><a href=\"https://laohu8.com/S/ORCL\">神谕</a></b>（ORCL）及<b><a href=\"https://laohu8.com/S/IBM\">IBM</a></b>（IBM）。</blockquote></p><p> One Snowflake customer is pharma giant&nbsp;<b><a href=\"https://laohu8.com/S/PFE\">Pfizer</a></b>&nbsp;(PFE). Pfizer uses Snowflake tools to forecast product sales and to gain insights into the&nbsp;distribution of the Covid-19 vaccine.</p><p><blockquote>Snowflake的一位客户是制药巨头<b><a href=\"https://laohu8.com/S/PFE\">辉瑞</a></b>（PFE）。辉瑞使用雪花工具来预测产品销售，并深入了解新冠肺炎疫苗的分销情况。</blockquote></p><p> <b>Snowflake Stock: Competition Increasing From Google Cloud?</b></p><p><blockquote><b>雪花股票：来自谷歌云的竞争加剧？</b></blockquote></p><p> Stellar customer growth enabled SNOW stock to pull off the largest initial public offering ever by a software company in September 2020. The IPO raised $3.4 billion.</p><p><blockquote>出色的客户增长使SNOW stock在2020年9月完成了软件公司有史以来最大的首次公开募股。此次IPO筹集了34亿美元。</blockquote></p><p> But is Snowflake a buy right now? After a tough start to 2021, software growth stocks have rebounded. The iShares Expanded Tech-Software Sector ETF rose 3.4% in July and 8.7% in June.</p><p><blockquote>但雪花现在值得买入吗？在经历了2021年的艰难开局后，软件成长股出现反弹。iShares Expanded Tech-Software Sector ETF 7月份上涨3.4%，6月份上涨8.7%。</blockquote></p><p> Snowflake reports second-quarter earnings on Aug. 25. Analysts project a loss of 15 cents per share, with revenue jumping nearly 100% to $256.5 million.</p><p><blockquote>Snowflake将于8月25日公布第二季度收益。分析师预计每股亏损15美分，营收增长近100%至2.565亿美元。</blockquote></p><p> Snowflake stock tumbled Aug. 20 ahead of its earnings release. One report on the drop cited a Cleveland Research note to clients. The Cleveland Research report ostensibly points to increased competition from Google's cloud business.</p><p><blockquote>Snowflake股价在8月20日财报发布前暴跌。一份关于下降的报告引用了克利夫兰给客户的一份研究报告。克利夫兰研究报告表面上指出，来自谷歌云业务的竞争加剧。</blockquote></p><p> Snowflake stock hit an all-time high of 429 in early December. But SNOW stock swooned in late 2020 amid analyst concerns over its lofty valuation.</p><p><blockquote>Snowflake股价在12月初创下429点的历史新高。但由于分析师对其高估值的担忧，SNOW股价在2020年底暴跌。</blockquote></p><p> At a June 10 analyst day, Snowflake laid out a path to $10 billion in product revenue by fiscal 2029, which coincides with calendar 2028. The $10 billion revenue target would result in a compound annual growth rate of 44%.</p><p><blockquote>在6月10日的分析师日上，Snowflake制定了到2029财年（与2028年日历一致）产品收入达到100亿美元的道路。100亿美元的收入目标将带来44%的复合年增长率。</blockquote></p><p> The company said it expects to increase the number of customers with over $1 million in product revenue. Snowflake also guided to long-term operating margin of 10%-plus, lower than some analysts expected.</p><p><blockquote>该公司表示，预计产品收入将超过100万美元，从而增加客户数量。Snowflake还预计长期营业利润率为10%以上，低于一些分析师的预期。</blockquote></p><p> <b>Possible Threat From Amazon</b></p><p><blockquote><b>可能来自亚马逊的威胁</b></blockquote></p><p> Snowflake in July announced support for digital advertising standard Unified ID 2.0. Advertising is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of Snowflake's largest verticals with customers representing a large percentage of players in the space, noted a RBC Capital report. The move comes as Googlephases out internet cookies for targeted advertising.</p><p><blockquote>雪花在7月份宣布支持数字广告标准Unified ID 2.0。广告是<a href=\"https://laohu8.com/S/AONE.U\">一</a>加拿大皇家银行资本(RBC Capital)的一份报告指出，Snowflake是最大的垂直行业之一，其客户占该领域参与者的很大比例。此举正值谷歌逐步淘汰用于定向广告的互联网cookies之际。</blockquote></p><p> Whether Amazon Web Services ratchets up competition remains a concern for SNOW stock. Plus, competition with privately held Databricks is heating up. A February funding round&nbsp;valued Databricks at $28 billion.</p><p><blockquote>亚马逊网络服务是否会加剧竞争仍然是SNOW股票的一个担忧。此外，与私营Databricks的竞争正在升温。2月份的一轮融资对Databricks的估值为280亿美元。</blockquote></p><p> Databricks, which uses&nbsp;artificial intelligence, is expected to launch its own IPO.</p><p><blockquote>使用人工智能的Databricks预计将推出自己的IPO。</blockquote></p><p> Snowflake stock bulls point to its seasoned management team as a strength no matter what unfolds.</p><p><blockquote>雪花股票的多头指出，无论发生什么，其经验丰富的管理团队都是一个优势。</blockquote></p><p> Two former Oracle engineers — Benoit Dageville and Thierry Cruanes — along with Marcin Zukowski, former chief executive of startup Vectorwise, started Snowflake in 2012. The company holds patents in database architecture, data warehouses and other areas.</p><p><blockquote>两位前甲骨文工程师Benoit Dageville和Thierry Cruanes以及初创公司Vectorwise前首席执行官Marcin Zukowski于2012年创办了Snowflake。公司在数据库架构、数据仓库等领域拥有专利。</blockquote></p><p> <b>SNOW Stock: <a href=\"https://laohu8.com/S/NOW\">ServiceNow</a> Veterans Lead Company</b></p><p><blockquote><b>雪库存：<a href=\"https://laohu8.com/S/NOW\">服务现在</a>退伍军人领导公司</b></blockquote></p><p> Snowflake brought in&nbsp;Frank Slootman as chief executive&nbsp;in May 2019. Slootman had stepped down as CEO of ServiceNow in early 2017. Former ServiceNow Chief Financial Officer Mike Scarpelli in 2019 also joined Snowflake in the same CFO position.</p><p><blockquote>Snowflake于2019年5月聘请Frank Slootman担任首席执行官。Slootman已于2017年初辞去ServiceNow首席执行官一职。前ServiceNow首席财务官Mike Scarpelli也于2019年加入Snowflake，担任相同的首席财务官职位。</blockquote></p><p> Unlike legacy, on-premise data management systems, Snowflake's platform was built from the ground up for cloud computing. It provides 100% of its software over the internet.</p><p><blockquote>与传统的内部数据管理系统不同，Snowflake的平台是为云计算从头开始构建的。它通过互联网提供100%的软件。</blockquote></p><p> Snowflake customers can share data with their partners across multiple online storage systems using the company's data warehouse. Snowflake also enables easily searchable data to be shared among applications.</p><p><blockquote>Snowflake客户可以使用公司的数据仓库在多个在线存储系统中与合作伙伴共享数据。Snowflake还支持在应用程序之间共享易于搜索的数据。</blockquote></p><p> Snowflake's data analytics tools became available on Amazon Web Services in 2015, Microsoft's Azure in 2018 and on Google's cloud platform in 2020.</p><p><blockquote>Snowflake的数据分析工具于2015年在Amazon Web Services上可用，2018年在微软的Azure上可用，2020年在谷歌的云平台上可用。</blockquote></p><p></p><p> In June, Snowflake partnered with&nbsp;<b><a href=\"https://laohu8.com/S/AI\">C3.ai, Inc.</a></b>&nbsp;(AI). The two companies will cooperate in offering artificial intelligence tools to companies.</p><p><blockquote>6月，雪花与<b><a href=\"https://laohu8.com/S/AI\">C3.人工智能公司。</a></b>（人工智能）。两家公司将合作向企业提供人工智能工具。</blockquote></p><p> <b>Amazon Web Services A 'Frenemy'</b></p><p><blockquote><b>亚马逊网络服务是“友敌”</b></blockquote></p><p> \"While Snowflake is multi-cloud, it derives some 85% of its revenues from data analytics jobs deployed on Amazon Web Services, which is also Snowflake's biggest rival with AWS Redshift,\" UBS analyst Karl Keirstead said in a recent note to clients.</p><p><blockquote>瑞银分析师Karl Keirstead在最近给客户的一份报告中表示：“虽然Snowflake是多云的，但它约85%的收入来自亚马逊网络服务上部署的数据分析工作，亚马逊网络服务也是Snowflake与AWS Redshift的最大竞争对手。”</blockquote></p><p> \"This 'frenemy' relationship is critical to Snowflake's success,\" Keirstead went on to say. \"AWS benefits far more from Snowflake spending on compute and storage infrastructure resources than they lose in the form of foregone AWS Redshift revenues. Snowflake represents a dream customer and partner for AWS and Microsoft Azure.\"</p><p><blockquote>“这种‘友敌’关系对于Snowflake的成功至关重要，”Keirstead继续说道。“AWS从Snowflake在计算和存储基础设施资源上的支出中获得的好处远远超过它们因放弃AWS红移收入而损失的损失。Snowflake代表了AWS和微软Azure的梦想客户和合作伙伴。”</blockquote></p><p> Snowflake has focused on six core markets, including financial services, health care and life sciences, retail and consumer packaged goods, advertising media and entertainment, technology, and the government sector.</p><p><blockquote>Snowflake专注于六个核心市场，包括金融服务、医疗保健和生命科学、零售和消费品、广告媒体和娱乐、技术和政府部门。</blockquote></p><p> When Snowflake went public in September it used a dual-class share structure that gave its CEO and insiders&nbsp;super-voting rights. However, Snowflake eliminated the dual-class structure in March.</p><p><blockquote>Snowflake 9月份上市时采用了双层股权结构，赋予其首席执行官和内部人士超级投票权。然而，Snowflake在三月份取消了双层结构。</blockquote></p><p> Snowflake had been based in San Mateo, Calif. Amid the shift to remote work spurred by the coronavirus emergency, Snowflake in May said it no longer has a corporate headquarters. It designated Bozeman, Mont., as its principal executive office. Slootman and Scarpelli are based in Bozeman.</p><p><blockquote>雪花公司的总部设在加利福尼亚州的圣马特奥。在冠状病毒紧急情况促使人们转向远程工作的过程中，Snowflake在5月份表示，它不再设有公司总部。它指定了蒙大拿州的波兹曼。，作为其主要执行办公室。斯洛特曼和斯卡佩利的总部设在波兹曼。</blockquote></p><p> <b>Snowflake Stock Fundamental Analysis</b></p><p><blockquote><b>雪花股票基本面分析</b></blockquote></p><p> Software stocks typically trade as a multiple of forward-looking revenue growth. Software-as-a-service, or SaaS, companies, such as&nbsp;<b><a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a></b>&nbsp;(CRM), typically provide the highest revenue growth. Salesforce is a key marketing partner of SNOW stock.</p><p><blockquote>软件股的交易价格通常是前瞻性收入增长的倍数。软件即服务或SaaS公司，例如<b><a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a></b>（CRM），通常提供最高的收入增长。Salesforce是SNOW stock的主要营销合作伙伴。</blockquote></p><p> Snowflake also partners with consulting firms such as Deloitte and information technology firms such as privately held Informatica.</p><p><blockquote>Snowflake还与德勤等咨询公司和私营Informatica等信息技术公司合作。</blockquote></p><p> Snowflake is not an SaaS company, however. Instead, it uses a consumption-based business model based on how much data its customers crunch and store.</p><p><blockquote>然而，Snowflake并不是一家SaaS公司。相反，它使用基于消费的商业模式，基于客户处理和存储的数据量。</blockquote></p><p> Snowflake's revenue growth stands out. <a href=\"https://laohu8.com/S/FBNC\">First</a>-quarter&nbsp;sales jumped 110%to $228.9 million. But there's less transparency and predictability than with subscription-based, recurring-revenue SaaS business models, analysts say.</p><p><blockquote>Snowflake的收入增长尤为突出。<a href=\"https://laohu8.com/S/FBNC\">第一</a>-季度销售额跃升110%至2.289亿美元。但分析师表示，与基于订阅、经常性收入的SaaS商业模式相比，透明度和可预测性较低。</blockquote></p><p> \"SNOW has a consumption model, whereby customers contract for a certain amount of compute and storage capacity,\" <a href=\"https://laohu8.com/S/MFG\">Mizuho</a> Securities analyst Gregg Moskowitz said in a note. \"The company only records revenue, however, as that capacity is used, so there can be a lag of several months or more before revenue recognition begins.\"</p><p><blockquote>“SNOW有一个消费模式，客户签订一定数量的计算和存储容量的合同，”<a href=\"https://laohu8.com/S/MFG\">瑞穗</a>证券分析师Gregg Moskowitz在一份报告中表示。“然而，公司仅在产能被使用时记录收入，因此在开始确认收入之前可能会有几个月或更长时间的滞后。”</blockquote></p><p> Snowflake is nearing an annual revenue run-rate of $1 billion. That's a big milestone for software growth companies. But SNOW stock is unprofitable on the two most common accounting standards.</p><p><blockquote>Snowflake的年收入接近10亿美元。对于软件成长型公司来说，这是一个重要的里程碑。但根据两种最常见的会计准则，SNOW股票是无利可图的。</blockquote></p><p> Many software companies are unprofitable using GAAP earnings, or generally accepted accounting principles, which includes stock-based compensation. But they're profitable on a non-GAAP or \"adjusted\" earnings basis.</p><p><blockquote>许多软件公司使用GAAP收益或公认会计原则（包括基于股票的薪酬）是无利可图的。但在非公认会计准则或“调整后”收益的基础上，它们是盈利的。</blockquote></p><p> <b>SNOW Stock Operates In The Red</b></p><p><blockquote><b>SNOW股票出现亏损</b></blockquote></p><p> In the first quarter, Snowflake reported a GAAP operating loss of $205.6 million and a GAAP per-share loss of 70 cents. Snowflake stock subsequently fell. It recorded an adjusted operating loss of $35.8 million.</p><p><blockquote>第一季度，Snowflake公布的GAAP运营亏损为2.056亿美元，GAAP每股亏损为70美分。雪花股票随后下跌。调整后营业亏损为3580万美元。</blockquote></p><p> Snowflake doesn't break out adjusted earnings. Analysts estimate it lost 11 cents on an adjusted basis in the first quarter.</p><p><blockquote>Snowflake没有公布调整后收益。分析师估计，第一季度调整后该公司亏损11美分。</blockquote></p><p> Snowflake operates in the red amid sizable investments, analysts say. For fiscal 2022, for example, Snowflake has told analysts it plans to hire 1,200 net new employees, which would represent 48% growth in head count.</p><p><blockquote>分析师表示，由于巨额投资，Snowflake的运营处于亏损状态。例如，Snowflake告诉分析师，2022财年计划净雇用1,200名新员工，这意味着员工人数将增长48%。</blockquote></p><p> Still, investments are paying off in revenue growth. Snowflake had 4,532 customers as of April 30, up 67% from the year-earlier period. That includes 187 of the Fortune 500. In the April quarter, Snowflake added a record 27 customers with more than $1 million per year in product revenue, giving it 104 such customers overall.</p><p><blockquote>尽管如此，投资还是在收入增长方面获得了回报。截至4月30日，Snowflake拥有4,532名客户，同比增长67%。其中包括财富500强中的187家。在第四季度，Snowflake新增了创纪录的27个客户，每年产品收入超过100万美元，使其总共拥有104个此类客户。</blockquote></p><p> <a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a> analyst Kash Rangan is bullish on Snowflake's potential to dominate in cloud-based data analytics and management.</p><p><blockquote><a href=\"https://laohu8.com/S/GS\">高盛</a>分析师Kash Rangan看好Snowflake在基于云的数据分析和管理领域占据主导地位的潜力。</blockquote></p><p> \"We believe Snowflake will continue to replace incumbent warehousing solutions owing to their scalable and elastic cloud native data platform while also capitalizing on net new workloads and use cases as digital transformation drives greater digitization within the enterprise, and business intelligence and analytics remains a top priority for spending,\" he said in a note.</p><p><blockquote>“我们相信，由于其可扩展和弹性的云原生数据平台，Snowflake将继续取代现有的仓储解决方案，同时随着数字化转型推动企业内部更大程度的数字化，并且商业智能和分析仍然是重中之重支出，”他在一份报告中表示。</blockquote></p><p> <b>SNOW Stock Technical Analysis</b></p><p><blockquote><b>SNOW股票技术分析</b></blockquote></p><p> Snowflake stock went public on Sept. 16 at 120 a share. At the time, software growth stocks were hot as investors sought recurring revenue amid the coronavirus emergency.</p><p><blockquote>Snowflake股票于9月16日以每股120美元的价格上市。当时，由于投资者在冠状病毒紧急情况下寻求经常性收入，软件成长股炙手可热。</blockquote></p><p></p><p> SNOW stock popped as high as 319 on the first day of trading and closed 111.6% above the IPO price at 253.93. Shares pulled back as analysts debated Snowflake's valuation.</p><p><blockquote>SNOW股价在交易首日飙升至319点，收盘价较IPO价格253.93点高出111.6%。由于分析师对Snowflake的估值存在争议，股价回落。</blockquote></p><p> Snowflake stock forged a&nbsp;cup-with-handle base&nbsp;over the next two months. The new base created an entry point of 301. SNOW stock blew past the buy point, hitting an all-time high of 429 on Dec. 8.</p><p><blockquote>在接下来的两个月里，雪花股票打造了一个带手柄的杯子底座。新基地创造了一个301的切入点。SNOW股价突破买入点，于12月8日触及429点的历史新高。</blockquote></p><p> Snowflake stock swooned in late 2020 amid questions over its valuation even as the IBD Computer-Software <a href=\"https://laohu8.com/S/EBTC\">Enterprise</a> group stayed resilient. The Computer-Software <a href=\"https://laohu8.com/S/EFSC\">Enterprise</a> group did not break down until mid-February amid a market rotation to value.</p><p><blockquote>尽管IBD计算机软件公司的估值受到质疑，Snowflake股价在2020年底暴跌<a href=\"https://laohu8.com/S/EBTC\">企业</a>集团保持弹性。计算机软件<a href=\"https://laohu8.com/S/EFSC\">企业</a>直到2月中旬，由于市场向价值轮动，该集团才崩溃。</blockquote></p><p> Snowflake stock hit a 12-month low of 184.71 on May 13.</p><p><blockquote>Snowflake股价于5月13日触及184.71的12个月低点。</blockquote></p><p> <b>Is Snowflake Stock A Buy Right Now?</b></p><p><blockquote><b>雪花股票现在值得买入吗？</b></blockquote></p><p> Snowflake stock still trades at a substantial premium as a multiple of forward-looking revenue growth. SNOW stock holds anIBD Composite Rating&nbsp;of 44 out of a best possible 99, according to&nbsp;IBD Stock Checkup.</p><p><blockquote>作为前瞻性收入增长的倍数，雪花股票的交易价格仍然存在大幅溢价。根据IBD Stock Checkup的数据，SNOW股票的IBD综合评级为44分（满分99分）。</blockquote></p><p> IBD's Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.</p><p><blockquote>IBD的综合评级将五个独立的专有评级合并为一个易于使用的评级。最佳成长型股票的综合评级为90或更高。</blockquote></p><p> One plus is that Snowflake stock owns an Accumulation/Distribution Rating of B, according to&nbsp;IBD Market&nbsp;Smith&nbsp;analysis. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading.</p><p><blockquote>根据IBD Market Smith的分析，雪花股票的积累/分配评级为B。该评级分析股票在过去13周交易中的价格和交易量变化。</blockquote></p><p> The rating, on an A+ to E scale, measures institutional buying and selling in a stock. A+ signifies heavy institutional buying; E means heavy selling. Think of the C grade as neutral.</p><p><blockquote>该评级为A+至E级，衡量机构对股票的买卖情况。A+表示机构大量买入；E表示大量抛售。把C级想象成中性。</blockquote></p><p> SNOW stock has yet to&nbsp;form a base&nbsp;with a proper entry point. Snowflake stock has clawed above its 50-day moving average. If it holds above the 50-day line that could kick-start the right side of a deep base.</p><p><blockquote>雪股尚未形成一个合适的切入点。Snowflake股价已突破50日移动平均线。如果它保持在50日线之上，可能会启动深基右侧。</blockquote></p><p> As of Aug. 20, Snowflake stock is not a buy despite an improved relative strength line.</p><p><blockquote>截至8月20日，尽管相对强弱线有所改善，但Snowflake股票仍不值得买入。</blockquote></p><p></p>","source":"lsy1610449120050","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>Is Snowflake Stock A Buy? Software Maker Sets Path To $10 Billion In Revenue By 2028<blockquote>雪花股票值得买入吗？软件制造商计划到2028年收入达到100亿美元</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\">\nIs Snowflake Stock A Buy? Software Maker Sets Path To $10 Billion In Revenue By 2028<blockquote>雪花股票值得买入吗？软件制造商计划到2028年收入达到100亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investors</strong><span class=\"h-time small\">2021-08-20 23:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Think of <a href=\"https://laohu8.com/S/SNOW\">Snowflake</a> stock as a proxy on the torrid growth of cloud computing giants&nbsp;<b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b>&nbsp;(AMZN),&nbsp;<b><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a></b>&nbsp;(MSFT) and&nbsp;<b><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a></b>'s (GOOGL) Google.</p><p><blockquote>想到<a href=\"https://laohu8.com/S/SNOW\">雪花</a>股票作为云计算巨头快速增长的代表<b><a href=\"https://laohu8.com/S/AMZN\">亚马逊</a></b>（亚马逊），<b><a href=\"https://laohu8.com/S/MSFT\">微软</a></b>（MSFT）和<b><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a></b>（GOOGL）谷歌。</blockquote></p><p> Many companies are turning to cloud computing services as part of \"digital transformation\" projects that aim to gain business insights from crunching massive volumes of data. The cloud computing titans offer their own data analytics and management tools.</p><p><blockquote>许多公司正在转向云计算服务，作为“数字化转型”项目的一部分，旨在从处理海量数据中获得商业洞察力。云计算巨头提供自己的数据分析和管理工具。</blockquote></p><p> In a \"coopetition\" model, the&nbsp;cloud giants&nbsp;give their customers a green light to buy&nbsp;<b>Snowflake</b>'s (SNOW) software. The reason is Snowflake's tools are better at some key tasks, such as letting companies compile, view, analyze and share massive amounts of data in an easy way.</p><p><blockquote>在“合作竞争”模式下，云巨头为客户的购买开绿灯<b>雪花</b>的（雪）软件。原因是Snowflake的工具在一些关键任务上更好，例如让公司以简单的方式编译、查看、分析和共享大量数据。</blockquote></p><p> Nearly two-fifths of Fortune 500 companies use Snowflake's software in the cloud as they move away from on-premise data warehousing products from&nbsp;<b><a href=\"https://laohu8.com/S/TDC\">Teradata</a></b>&nbsp;(TDC),&nbsp;<b><a href=\"https://laohu8.com/S/ORCL\">Oracle</a></b>&nbsp;(ORCL) and&nbsp;<b><a href=\"https://laohu8.com/S/IBM\">IBM</a></b>&nbsp;(IBM).</p><p><blockquote>近五分之二的财富500强公司在云中使用Snowflake的软件，因为它们正在从<b><a href=\"https://laohu8.com/S/TDC\">Teradata</a></b>（贸发局），<b><a href=\"https://laohu8.com/S/ORCL\">神谕</a></b>（ORCL）及<b><a href=\"https://laohu8.com/S/IBM\">IBM</a></b>（IBM）。</blockquote></p><p> One Snowflake customer is pharma giant&nbsp;<b><a href=\"https://laohu8.com/S/PFE\">Pfizer</a></b>&nbsp;(PFE). Pfizer uses Snowflake tools to forecast product sales and to gain insights into the&nbsp;distribution of the Covid-19 vaccine.</p><p><blockquote>Snowflake的一位客户是制药巨头<b><a href=\"https://laohu8.com/S/PFE\">辉瑞</a></b>（PFE）。辉瑞使用雪花工具来预测产品销售，并深入了解新冠肺炎疫苗的分销情况。</blockquote></p><p> <b>Snowflake Stock: Competition Increasing From Google Cloud?</b></p><p><blockquote><b>雪花股票：来自谷歌云的竞争加剧？</b></blockquote></p><p> Stellar customer growth enabled SNOW stock to pull off the largest initial public offering ever by a software company in September 2020. The IPO raised $3.4 billion.</p><p><blockquote>出色的客户增长使SNOW stock在2020年9月完成了软件公司有史以来最大的首次公开募股。此次IPO筹集了34亿美元。</blockquote></p><p> But is Snowflake a buy right now? After a tough start to 2021, software growth stocks have rebounded. The iShares Expanded Tech-Software Sector ETF rose 3.4% in July and 8.7% in June.</p><p><blockquote>但雪花现在值得买入吗？在经历了2021年的艰难开局后，软件成长股出现反弹。iShares Expanded Tech-Software Sector ETF 7月份上涨3.4%，6月份上涨8.7%。</blockquote></p><p> Snowflake reports second-quarter earnings on Aug. 25. Analysts project a loss of 15 cents per share, with revenue jumping nearly 100% to $256.5 million.</p><p><blockquote>Snowflake将于8月25日公布第二季度收益。分析师预计每股亏损15美分，营收增长近100%至2.565亿美元。</blockquote></p><p> Snowflake stock tumbled Aug. 20 ahead of its earnings release. One report on the drop cited a Cleveland Research note to clients. The Cleveland Research report ostensibly points to increased competition from Google's cloud business.</p><p><blockquote>Snowflake股价在8月20日财报发布前暴跌。一份关于下降的报告引用了克利夫兰给客户的一份研究报告。克利夫兰研究报告表面上指出，来自谷歌云业务的竞争加剧。</blockquote></p><p> Snowflake stock hit an all-time high of 429 in early December. But SNOW stock swooned in late 2020 amid analyst concerns over its lofty valuation.</p><p><blockquote>Snowflake股价在12月初创下429点的历史新高。但由于分析师对其高估值的担忧，SNOW股价在2020年底暴跌。</blockquote></p><p> At a June 10 analyst day, Snowflake laid out a path to $10 billion in product revenue by fiscal 2029, which coincides with calendar 2028. The $10 billion revenue target would result in a compound annual growth rate of 44%.</p><p><blockquote>在6月10日的分析师日上，Snowflake制定了到2029财年（与2028年日历一致）产品收入达到100亿美元的道路。100亿美元的收入目标将带来44%的复合年增长率。</blockquote></p><p> The company said it expects to increase the number of customers with over $1 million in product revenue. Snowflake also guided to long-term operating margin of 10%-plus, lower than some analysts expected.</p><p><blockquote>该公司表示，预计产品收入将超过100万美元，从而增加客户数量。Snowflake还预计长期营业利润率为10%以上，低于一些分析师的预期。</blockquote></p><p> <b>Possible Threat From Amazon</b></p><p><blockquote><b>可能来自亚马逊的威胁</b></blockquote></p><p> Snowflake in July announced support for digital advertising standard Unified ID 2.0. Advertising is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of Snowflake's largest verticals with customers representing a large percentage of players in the space, noted a RBC Capital report. The move comes as Googlephases out internet cookies for targeted advertising.</p><p><blockquote>雪花在7月份宣布支持数字广告标准Unified ID 2.0。广告是<a href=\"https://laohu8.com/S/AONE.U\">一</a>加拿大皇家银行资本(RBC Capital)的一份报告指出，Snowflake是最大的垂直行业之一，其客户占该领域参与者的很大比例。此举正值谷歌逐步淘汰用于定向广告的互联网cookies之际。</blockquote></p><p> Whether Amazon Web Services ratchets up competition remains a concern for SNOW stock. Plus, competition with privately held Databricks is heating up. A February funding round&nbsp;valued Databricks at $28 billion.</p><p><blockquote>亚马逊网络服务是否会加剧竞争仍然是SNOW股票的一个担忧。此外，与私营Databricks的竞争正在升温。2月份的一轮融资对Databricks的估值为280亿美元。</blockquote></p><p> Databricks, which uses&nbsp;artificial intelligence, is expected to launch its own IPO.</p><p><blockquote>使用人工智能的Databricks预计将推出自己的IPO。</blockquote></p><p> Snowflake stock bulls point to its seasoned management team as a strength no matter what unfolds.</p><p><blockquote>雪花股票的多头指出，无论发生什么，其经验丰富的管理团队都是一个优势。</blockquote></p><p> Two former Oracle engineers — Benoit Dageville and Thierry Cruanes — along with Marcin Zukowski, former chief executive of startup Vectorwise, started Snowflake in 2012. The company holds patents in database architecture, data warehouses and other areas.</p><p><blockquote>两位前甲骨文工程师Benoit Dageville和Thierry Cruanes以及初创公司Vectorwise前首席执行官Marcin Zukowski于2012年创办了Snowflake。公司在数据库架构、数据仓库等领域拥有专利。</blockquote></p><p> <b>SNOW Stock: <a href=\"https://laohu8.com/S/NOW\">ServiceNow</a> Veterans Lead Company</b></p><p><blockquote><b>雪库存：<a href=\"https://laohu8.com/S/NOW\">服务现在</a>退伍军人领导公司</b></blockquote></p><p> Snowflake brought in&nbsp;Frank Slootman as chief executive&nbsp;in May 2019. Slootman had stepped down as CEO of ServiceNow in early 2017. Former ServiceNow Chief Financial Officer Mike Scarpelli in 2019 also joined Snowflake in the same CFO position.</p><p><blockquote>Snowflake于2019年5月聘请Frank Slootman担任首席执行官。Slootman已于2017年初辞去ServiceNow首席执行官一职。前ServiceNow首席财务官Mike Scarpelli也于2019年加入Snowflake，担任相同的首席财务官职位。</blockquote></p><p> Unlike legacy, on-premise data management systems, Snowflake's platform was built from the ground up for cloud computing. It provides 100% of its software over the internet.</p><p><blockquote>与传统的内部数据管理系统不同，Snowflake的平台是为云计算从头开始构建的。它通过互联网提供100%的软件。</blockquote></p><p> Snowflake customers can share data with their partners across multiple online storage systems using the company's data warehouse. Snowflake also enables easily searchable data to be shared among applications.</p><p><blockquote>Snowflake客户可以使用公司的数据仓库在多个在线存储系统中与合作伙伴共享数据。Snowflake还支持在应用程序之间共享易于搜索的数据。</blockquote></p><p> Snowflake's data analytics tools became available on Amazon Web Services in 2015, Microsoft's Azure in 2018 and on Google's cloud platform in 2020.</p><p><blockquote>Snowflake的数据分析工具于2015年在Amazon Web Services上可用，2018年在微软的Azure上可用，2020年在谷歌的云平台上可用。</blockquote></p><p></p><p> In June, Snowflake partnered with&nbsp;<b><a href=\"https://laohu8.com/S/AI\">C3.ai, Inc.</a></b>&nbsp;(AI). The two companies will cooperate in offering artificial intelligence tools to companies.</p><p><blockquote>6月，雪花与<b><a href=\"https://laohu8.com/S/AI\">C3.人工智能公司。</a></b>（人工智能）。两家公司将合作向企业提供人工智能工具。</blockquote></p><p> <b>Amazon Web Services A 'Frenemy'</b></p><p><blockquote><b>亚马逊网络服务是“友敌”</b></blockquote></p><p> \"While Snowflake is multi-cloud, it derives some 85% of its revenues from data analytics jobs deployed on Amazon Web Services, which is also Snowflake's biggest rival with AWS Redshift,\" UBS analyst Karl Keirstead said in a recent note to clients.</p><p><blockquote>瑞银分析师Karl Keirstead在最近给客户的一份报告中表示：“虽然Snowflake是多云的，但它约85%的收入来自亚马逊网络服务上部署的数据分析工作，亚马逊网络服务也是Snowflake与AWS Redshift的最大竞争对手。”</blockquote></p><p> \"This 'frenemy' relationship is critical to Snowflake's success,\" Keirstead went on to say. \"AWS benefits far more from Snowflake spending on compute and storage infrastructure resources than they lose in the form of foregone AWS Redshift revenues. Snowflake represents a dream customer and partner for AWS and Microsoft Azure.\"</p><p><blockquote>“这种‘友敌’关系对于Snowflake的成功至关重要，”Keirstead继续说道。“AWS从Snowflake在计算和存储基础设施资源上的支出中获得的好处远远超过它们因放弃AWS红移收入而损失的损失。Snowflake代表了AWS和微软Azure的梦想客户和合作伙伴。”</blockquote></p><p> Snowflake has focused on six core markets, including financial services, health care and life sciences, retail and consumer packaged goods, advertising media and entertainment, technology, and the government sector.</p><p><blockquote>Snowflake专注于六个核心市场，包括金融服务、医疗保健和生命科学、零售和消费品、广告媒体和娱乐、技术和政府部门。</blockquote></p><p> When Snowflake went public in September it used a dual-class share structure that gave its CEO and insiders&nbsp;super-voting rights. However, Snowflake eliminated the dual-class structure in March.</p><p><blockquote>Snowflake 9月份上市时采用了双层股权结构，赋予其首席执行官和内部人士超级投票权。然而，Snowflake在三月份取消了双层结构。</blockquote></p><p> Snowflake had been based in San Mateo, Calif. Amid the shift to remote work spurred by the coronavirus emergency, Snowflake in May said it no longer has a corporate headquarters. It designated Bozeman, Mont., as its principal executive office. Slootman and Scarpelli are based in Bozeman.</p><p><blockquote>雪花公司的总部设在加利福尼亚州的圣马特奥。在冠状病毒紧急情况促使人们转向远程工作的过程中，Snowflake在5月份表示，它不再设有公司总部。它指定了蒙大拿州的波兹曼。，作为其主要执行办公室。斯洛特曼和斯卡佩利的总部设在波兹曼。</blockquote></p><p> <b>Snowflake Stock Fundamental Analysis</b></p><p><blockquote><b>雪花股票基本面分析</b></blockquote></p><p> Software stocks typically trade as a multiple of forward-looking revenue growth. Software-as-a-service, or SaaS, companies, such as&nbsp;<b><a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a></b>&nbsp;(CRM), typically provide the highest revenue growth. Salesforce is a key marketing partner of SNOW stock.</p><p><blockquote>软件股的交易价格通常是前瞻性收入增长的倍数。软件即服务或SaaS公司，例如<b><a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a></b>（CRM），通常提供最高的收入增长。Salesforce是SNOW stock的主要营销合作伙伴。</blockquote></p><p> Snowflake also partners with consulting firms such as Deloitte and information technology firms such as privately held Informatica.</p><p><blockquote>Snowflake还与德勤等咨询公司和私营Informatica等信息技术公司合作。</blockquote></p><p> Snowflake is not an SaaS company, however. Instead, it uses a consumption-based business model based on how much data its customers crunch and store.</p><p><blockquote>然而，Snowflake并不是一家SaaS公司。相反，它使用基于消费的商业模式，基于客户处理和存储的数据量。</blockquote></p><p> Snowflake's revenue growth stands out. <a href=\"https://laohu8.com/S/FBNC\">First</a>-quarter&nbsp;sales jumped 110%to $228.9 million. But there's less transparency and predictability than with subscription-based, recurring-revenue SaaS business models, analysts say.</p><p><blockquote>Snowflake的收入增长尤为突出。<a href=\"https://laohu8.com/S/FBNC\">第一</a>-季度销售额跃升110%至2.289亿美元。但分析师表示，与基于订阅、经常性收入的SaaS商业模式相比，透明度和可预测性较低。</blockquote></p><p> \"SNOW has a consumption model, whereby customers contract for a certain amount of compute and storage capacity,\" <a href=\"https://laohu8.com/S/MFG\">Mizuho</a> Securities analyst Gregg Moskowitz said in a note. \"The company only records revenue, however, as that capacity is used, so there can be a lag of several months or more before revenue recognition begins.\"</p><p><blockquote>“SNOW有一个消费模式，客户签订一定数量的计算和存储容量的合同，”<a href=\"https://laohu8.com/S/MFG\">瑞穗</a>证券分析师Gregg Moskowitz在一份报告中表示。“然而，公司仅在产能被使用时记录收入，因此在开始确认收入之前可能会有几个月或更长时间的滞后。”</blockquote></p><p> Snowflake is nearing an annual revenue run-rate of $1 billion. That's a big milestone for software growth companies. But SNOW stock is unprofitable on the two most common accounting standards.</p><p><blockquote>Snowflake的年收入接近10亿美元。对于软件成长型公司来说，这是一个重要的里程碑。但根据两种最常见的会计准则，SNOW股票是无利可图的。</blockquote></p><p> Many software companies are unprofitable using GAAP earnings, or generally accepted accounting principles, which includes stock-based compensation. But they're profitable on a non-GAAP or \"adjusted\" earnings basis.</p><p><blockquote>许多软件公司使用GAAP收益或公认会计原则（包括基于股票的薪酬）是无利可图的。但在非公认会计准则或“调整后”收益的基础上，它们是盈利的。</blockquote></p><p> <b>SNOW Stock Operates In The Red</b></p><p><blockquote><b>SNOW股票出现亏损</b></blockquote></p><p> In the first quarter, Snowflake reported a GAAP operating loss of $205.6 million and a GAAP per-share loss of 70 cents. Snowflake stock subsequently fell. It recorded an adjusted operating loss of $35.8 million.</p><p><blockquote>第一季度，Snowflake公布的GAAP运营亏损为2.056亿美元，GAAP每股亏损为70美分。雪花股票随后下跌。调整后营业亏损为3580万美元。</blockquote></p><p> Snowflake doesn't break out adjusted earnings. Analysts estimate it lost 11 cents on an adjusted basis in the first quarter.</p><p><blockquote>Snowflake没有公布调整后收益。分析师估计，第一季度调整后该公司亏损11美分。</blockquote></p><p> Snowflake operates in the red amid sizable investments, analysts say. For fiscal 2022, for example, Snowflake has told analysts it plans to hire 1,200 net new employees, which would represent 48% growth in head count.</p><p><blockquote>分析师表示，由于巨额投资，Snowflake的运营处于亏损状态。例如，Snowflake告诉分析师，2022财年计划净雇用1,200名新员工，这意味着员工人数将增长48%。</blockquote></p><p> Still, investments are paying off in revenue growth. Snowflake had 4,532 customers as of April 30, up 67% from the year-earlier period. That includes 187 of the Fortune 500. In the April quarter, Snowflake added a record 27 customers with more than $1 million per year in product revenue, giving it 104 such customers overall.</p><p><blockquote>尽管如此，投资还是在收入增长方面获得了回报。截至4月30日，Snowflake拥有4,532名客户，同比增长67%。其中包括财富500强中的187家。在第四季度，Snowflake新增了创纪录的27个客户，每年产品收入超过100万美元，使其总共拥有104个此类客户。</blockquote></p><p> <a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a> analyst Kash Rangan is bullish on Snowflake's potential to dominate in cloud-based data analytics and management.</p><p><blockquote><a href=\"https://laohu8.com/S/GS\">高盛</a>分析师Kash Rangan看好Snowflake在基于云的数据分析和管理领域占据主导地位的潜力。</blockquote></p><p> \"We believe Snowflake will continue to replace incumbent warehousing solutions owing to their scalable and elastic cloud native data platform while also capitalizing on net new workloads and use cases as digital transformation drives greater digitization within the enterprise, and business intelligence and analytics remains a top priority for spending,\" he said in a note.</p><p><blockquote>“我们相信，由于其可扩展和弹性的云原生数据平台，Snowflake将继续取代现有的仓储解决方案，同时随着数字化转型推动企业内部更大程度的数字化，并且商业智能和分析仍然是重中之重支出，”他在一份报告中表示。</blockquote></p><p> <b>SNOW Stock Technical Analysis</b></p><p><blockquote><b>SNOW股票技术分析</b></blockquote></p><p> Snowflake stock went public on Sept. 16 at 120 a share. At the time, software growth stocks were hot as investors sought recurring revenue amid the coronavirus emergency.</p><p><blockquote>Snowflake股票于9月16日以每股120美元的价格上市。当时，由于投资者在冠状病毒紧急情况下寻求经常性收入，软件成长股炙手可热。</blockquote></p><p></p><p> SNOW stock popped as high as 319 on the first day of trading and closed 111.6% above the IPO price at 253.93. Shares pulled back as analysts debated Snowflake's valuation.</p><p><blockquote>SNOW股价在交易首日飙升至319点，收盘价较IPO价格253.93点高出111.6%。由于分析师对Snowflake的估值存在争议，股价回落。</blockquote></p><p> Snowflake stock forged a&nbsp;cup-with-handle base&nbsp;over the next two months. The new base created an entry point of 301. SNOW stock blew past the buy point, hitting an all-time high of 429 on Dec. 8.</p><p><blockquote>在接下来的两个月里，雪花股票打造了一个带手柄的杯子底座。新基地创造了一个301的切入点。SNOW股价突破买入点，于12月8日触及429点的历史新高。</blockquote></p><p> Snowflake stock swooned in late 2020 amid questions over its valuation even as the IBD Computer-Software <a href=\"https://laohu8.com/S/EBTC\">Enterprise</a> group stayed resilient. The Computer-Software <a href=\"https://laohu8.com/S/EFSC\">Enterprise</a> group did not break down until mid-February amid a market rotation to value.</p><p><blockquote>尽管IBD计算机软件公司的估值受到质疑，Snowflake股价在2020年底暴跌<a href=\"https://laohu8.com/S/EBTC\">企业</a>集团保持弹性。计算机软件<a href=\"https://laohu8.com/S/EFSC\">企业</a>直到2月中旬，由于市场向价值轮动，该集团才崩溃。</blockquote></p><p> Snowflake stock hit a 12-month low of 184.71 on May 13.</p><p><blockquote>Snowflake股价于5月13日触及184.71的12个月低点。</blockquote></p><p> <b>Is Snowflake Stock A Buy Right Now?</b></p><p><blockquote><b>雪花股票现在值得买入吗？</b></blockquote></p><p> Snowflake stock still trades at a substantial premium as a multiple of forward-looking revenue growth. SNOW stock holds anIBD Composite Rating&nbsp;of 44 out of a best possible 99, according to&nbsp;IBD Stock Checkup.</p><p><blockquote>作为前瞻性收入增长的倍数，雪花股票的交易价格仍然存在大幅溢价。根据IBD Stock Checkup的数据，SNOW股票的IBD综合评级为44分（满分99分）。</blockquote></p><p> IBD's Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.</p><p><blockquote>IBD的综合评级将五个独立的专有评级合并为一个易于使用的评级。最佳成长型股票的综合评级为90或更高。</blockquote></p><p> One plus is that Snowflake stock owns an Accumulation/Distribution Rating of B, according to&nbsp;IBD Market&nbsp;Smith&nbsp;analysis. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading.</p><p><blockquote>根据IBD Market Smith的分析，雪花股票的积累/分配评级为B。该评级分析股票在过去13周交易中的价格和交易量变化。</blockquote></p><p> The rating, on an A+ to E scale, measures institutional buying and selling in a stock. A+ signifies heavy institutional buying; E means heavy selling. Think of the C grade as neutral.</p><p><blockquote>该评级为A+至E级，衡量机构对股票的买卖情况。A+表示机构大量买入；E表示大量抛售。把C级想象成中性。</blockquote></p><p> SNOW stock has yet to&nbsp;form a base&nbsp;with a proper entry point. Snowflake stock has clawed above its 50-day moving average. If it holds above the 50-day line that could kick-start the right side of a deep base.</p><p><blockquote>雪股尚未形成一个合适的切入点。Snowflake股价已突破50日移动平均线。如果它保持在50日线之上，可能会启动深基右侧。</blockquote></p><p> As of Aug. 20, Snowflake stock is not a buy despite an improved relative strength line.</p><p><blockquote>截至8月20日，尽管相对强弱线有所改善，但Snowflake股票仍不值得买入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/news/technology/snowflake-snow-stock-buy-now/?src=A00220\">investors</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":{"SNOW":"Snowflake"},"source_url":"https://www.investors.com/news/technology/snowflake-snow-stock-buy-now/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189743420","content_text":"Think of Snowflake stock as a proxy on the torrid growth of cloud computing giants Amazon.com (AMZN), Microsoft (MSFT) and Alphabet's (GOOGL) Google.\nMany companies are turning to cloud computing services as part of \"digital transformation\" projects that aim to gain business insights from crunching massive volumes of data. The cloud computing titans offer their own data analytics and management tools.\nIn a \"coopetition\" model, the cloud giants give their customers a green light to buy Snowflake's (SNOW) software. The reason is Snowflake's tools are better at some key tasks, such as letting companies compile, view, analyze and share massive amounts of data in an easy way.\nNearly two-fifths of Fortune 500 companies use Snowflake's software in the cloud as they move away from on-premise data warehousing products from Teradata (TDC), Oracle (ORCL) and IBM (IBM).\nOne Snowflake customer is pharma giant Pfizer (PFE). Pfizer uses Snowflake tools to forecast product sales and to gain insights into the distribution of the Covid-19 vaccine.\nSnowflake Stock: Competition Increasing From Google Cloud?\nStellar customer growth enabled SNOW stock to pull off the largest initial public offering ever by a software company in September 2020. The IPO raised $3.4 billion.\nBut is Snowflake a buy right now? After a tough start to 2021, software growth stocks have rebounded. The iShares Expanded Tech-Software Sector ETF rose 3.4% in July and 8.7% in June.\nSnowflake reports second-quarter earnings on Aug. 25. Analysts project a loss of 15 cents per share, with revenue jumping nearly 100% to $256.5 million.\nSnowflake stock tumbled Aug. 20 ahead of its earnings release. One report on the drop cited a Cleveland Research note to clients. The Cleveland Research report ostensibly points to increased competition from Google's cloud business.\nSnowflake stock hit an all-time high of 429 in early December. But SNOW stock swooned in late 2020 amid analyst concerns over its lofty valuation.\nAt a June 10 analyst day, Snowflake laid out a path to $10 billion in product revenue by fiscal 2029, which coincides with calendar 2028. The $10 billion revenue target would result in a compound annual growth rate of 44%.\nThe company said it expects to increase the number of customers with over $1 million in product revenue. Snowflake also guided to long-term operating margin of 10%-plus, lower than some analysts expected.\nPossible Threat From Amazon\nSnowflake in July announced support for digital advertising standard Unified ID 2.0. Advertising is one of Snowflake's largest verticals with customers representing a large percentage of players in the space, noted a RBC Capital report. The move comes as Googlephases out internet cookies for targeted advertising.\nWhether Amazon Web Services ratchets up competition remains a concern for SNOW stock. Plus, competition with privately held Databricks is heating up. A February funding round valued Databricks at $28 billion.\nDatabricks, which uses artificial intelligence, is expected to launch its own IPO.\nSnowflake stock bulls point to its seasoned management team as a strength no matter what unfolds.\nTwo former Oracle engineers — Benoit Dageville and Thierry Cruanes — along with Marcin Zukowski, former chief executive of startup Vectorwise, started Snowflake in 2012. The company holds patents in database architecture, data warehouses and other areas.\nSNOW Stock: ServiceNow Veterans Lead Company\nSnowflake brought in Frank Slootman as chief executive in May 2019. Slootman had stepped down as CEO of ServiceNow in early 2017. Former ServiceNow Chief Financial Officer Mike Scarpelli in 2019 also joined Snowflake in the same CFO position.\nUnlike legacy, on-premise data management systems, Snowflake's platform was built from the ground up for cloud computing. It provides 100% of its software over the internet.\nSnowflake customers can share data with their partners across multiple online storage systems using the company's data warehouse. Snowflake also enables easily searchable data to be shared among applications.\nSnowflake's data analytics tools became available on Amazon Web Services in 2015, Microsoft's Azure in 2018 and on Google's cloud platform in 2020.\nIn June, Snowflake partnered with C3.ai, Inc. (AI). The two companies will cooperate in offering artificial intelligence tools to companies.\nAmazon Web Services A 'Frenemy'\n\"While Snowflake is multi-cloud, it derives some 85% of its revenues from data analytics jobs deployed on Amazon Web Services, which is also Snowflake's biggest rival with AWS Redshift,\" UBS analyst Karl Keirstead said in a recent note to clients.\n\"This 'frenemy' relationship is critical to Snowflake's success,\" Keirstead went on to say. \"AWS benefits far more from Snowflake spending on compute and storage infrastructure resources than they lose in the form of foregone AWS Redshift revenues. Snowflake represents a dream customer and partner for AWS and Microsoft Azure.\"\nSnowflake has focused on six core markets, including financial services, health care and life sciences, retail and consumer packaged goods, advertising media and entertainment, technology, and the government sector.\nWhen Snowflake went public in September it used a dual-class share structure that gave its CEO and insiders super-voting rights. However, Snowflake eliminated the dual-class structure in March.\nSnowflake had been based in San Mateo, Calif. Amid the shift to remote work spurred by the coronavirus emergency, Snowflake in May said it no longer has a corporate headquarters. It designated Bozeman, Mont., as its principal executive office. Slootman and Scarpelli are based in Bozeman.\nSnowflake Stock Fundamental Analysis\nSoftware stocks typically trade as a multiple of forward-looking revenue growth. Software-as-a-service, or SaaS, companies, such as Salesforce.com (CRM), typically provide the highest revenue growth. Salesforce is a key marketing partner of SNOW stock.\nSnowflake also partners with consulting firms such as Deloitte and information technology firms such as privately held Informatica.\nSnowflake is not an SaaS company, however. Instead, it uses a consumption-based business model based on how much data its customers crunch and store.\nSnowflake's revenue growth stands out. First-quarter sales jumped 110%to $228.9 million. But there's less transparency and predictability than with subscription-based, recurring-revenue SaaS business models, analysts say.\n\"SNOW has a consumption model, whereby customers contract for a certain amount of compute and storage capacity,\" Mizuho Securities analyst Gregg Moskowitz said in a note. \"The company only records revenue, however, as that capacity is used, so there can be a lag of several months or more before revenue recognition begins.\"\nSnowflake is nearing an annual revenue run-rate of $1 billion. That's a big milestone for software growth companies. But SNOW stock is unprofitable on the two most common accounting standards.\nMany software companies are unprofitable using GAAP earnings, or generally accepted accounting principles, which includes stock-based compensation. But they're profitable on a non-GAAP or \"adjusted\" earnings basis.\nSNOW Stock Operates In The Red\nIn the first quarter, Snowflake reported a GAAP operating loss of $205.6 million and a GAAP per-share loss of 70 cents. Snowflake stock subsequently fell. It recorded an adjusted operating loss of $35.8 million.\nSnowflake doesn't break out adjusted earnings. Analysts estimate it lost 11 cents on an adjusted basis in the first quarter.\nSnowflake operates in the red amid sizable investments, analysts say. For fiscal 2022, for example, Snowflake has told analysts it plans to hire 1,200 net new employees, which would represent 48% growth in head count.\nStill, investments are paying off in revenue growth. Snowflake had 4,532 customers as of April 30, up 67% from the year-earlier period. That includes 187 of the Fortune 500. In the April quarter, Snowflake added a record 27 customers with more than $1 million per year in product revenue, giving it 104 such customers overall.\nGoldman Sachs analyst Kash Rangan is bullish on Snowflake's potential to dominate in cloud-based data analytics and management.\n\"We believe Snowflake will continue to replace incumbent warehousing solutions owing to their scalable and elastic cloud native data platform while also capitalizing on net new workloads and use cases as digital transformation drives greater digitization within the enterprise, and business intelligence and analytics remains a top priority for spending,\" he said in a note.\nSNOW Stock Technical Analysis\nSnowflake stock went public on Sept. 16 at 120 a share. At the time, software growth stocks were hot as investors sought recurring revenue amid the coronavirus emergency.\nSNOW stock popped as high as 319 on the first day of trading and closed 111.6% above the IPO price at 253.93. Shares pulled back as analysts debated Snowflake's valuation.\nSnowflake stock forged a cup-with-handle base over the next two months. The new base created an entry point of 301. SNOW stock blew past the buy point, hitting an all-time high of 429 on Dec. 8.\nSnowflake stock swooned in late 2020 amid questions over its valuation even as the IBD Computer-Software Enterprise group stayed resilient. The Computer-Software Enterprise group did not break down until mid-February amid a market rotation to value.\nSnowflake stock hit a 12-month low of 184.71 on May 13.\nIs Snowflake Stock A Buy Right Now?\nSnowflake stock still trades at a substantial premium as a multiple of forward-looking revenue growth. SNOW stock holds anIBD Composite Rating of 44 out of a best possible 99, according to IBD Stock Checkup.\nIBD's Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.\nOne plus is that Snowflake stock owns an Accumulation/Distribution Rating of B, according to IBD Market Smith analysis. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading.\nThe rating, on an A+ to E scale, measures institutional buying and selling in a stock. A+ signifies heavy institutional buying; E means heavy selling. Think of the C grade as neutral.\nSNOW stock has yet to form a base with a proper entry point. Snowflake stock has clawed above its 50-day moving average. If it holds above the 50-day line that could kick-start the right side of a deep base.\nAs of Aug. 20, Snowflake stock is not a buy despite an improved relative strength line.","news_type":1,"symbols_score_info":{"SNOW":0.9}},"isVote":1,"tweetType":1,"viewCount":1686,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831804496,"gmtCreate":1629298088615,"gmtModify":1633685867860,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/831804496","repostId":"1181537707","repostType":4,"repost":{"id":"1181537707","kind":"news","pubTimestamp":1629297265,"share":"https://www.laohu8.com/m/news/1181537707?lang=zh_CN&edition=full","pubTime":"2021-08-18 22:34","market":"us","language":"en","title":"Inflation Is Higher in the U.S. Than Elsewhere, but Don’t Panic<blockquote>美国的通货膨胀率高于其他地方，但不要惊慌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181537707","media":"The Wall Street Journal","summary":"While prices in the eurozone appear to be rising more slowly, the difference isn’t best explained by","content":"<p>  While prices in the eurozone appear to be rising more slowly, the difference isn’t best explained by any inflationary economic policies in Washington.  <img src=\"https://static.tigerbbs.com/ca674d5c6ff01a5f89997288be6364b8\" tg-width=\"871\" tg-height=\"517\" width=\"100%\" height=\"auto\">America likes being exceptional, but too much exceptionalism when it comes to inflation is starting to cause concern. A closer look at the data suggests that investors can keep calm.</p><p><blockquote>尽管欧元区的物价上涨速度似乎较慢，但华盛顿的任何通胀经济政策都无法最好地解释这种差异。美国喜欢例外，但在通胀问题上过多的例外主义开始引起担忧。仔细观察数据表明，投资者可以保持冷静。</blockquote></p><p> On Wednesday, official figures confirmed that the harmonized consumer-price index in the eurozone rose 2.2% in July from a year earlier. This marked an acceleration relative to June, when inflation was 1.9%. But stripping out energy, food, alcohol and tobacco prices to see what is dubbed “core” inflation, the index only rose 0.7%, down from 0.9% the previous month.</p><p><blockquote>周三，官方数据证实，欧元区7月份统一消费者价格指数同比上涨2.2%。这标志着相对于6月份1.9%的通胀率有所加速。但剔除能源、食品、酒精和烟草价格以了解所谓的“核心”通胀，该指数仅上涨0.7%，低于上个月的0.9%。</blockquote></p><p> What is surprising isn’t inflation being too strong in the eurozone, but rather it being too weakrelative to the U.S., where CPI growth reached 5.4% in July, with core inflation at 4.3%.</p><p><blockquote>令人惊讶的不是欧元区的通胀太强，而是相对于美国来说太弱，美国7月份CPI增长率达到5.4%，核心通胀率为4.3%。</blockquote></p><p> Officials argue that today’s inflation is only temporarily higher as global prices rebound from the troughs of the pandemic and companies work through supply bottlenecks. Yet, if it is so much higher in the U.S., doesn’t this mean that excessive fiscal and monetary policy are driving the economy—since transfers to households have been less generous in Europe—and could trigger a dangerous delayed reaction by the Federal Reserve? Some prominent economists think so.</p><p><blockquote>官员们认为，随着全球价格从疫情的低谷反弹以及企业克服供应瓶颈，今天的通胀只是暂时走高。然而，如果美国的利率如此之高，这难道不意味着过度的财政和货币政策正在推动经济发展——因为欧洲对家庭的转移支付不那么慷慨——并可能引发美联储危险的延迟反应吗？一些著名的经济学家是这样认为的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d76c2a0f13ab39592583dd45f8a3a9d2\" tg-width=\"742\" tg-height=\"416\" width=\"100%\" height=\"auto\">Once compared with U.S. data, however, Wednesday’s figures show that more than half of the 3.2-percentage-point gap between inflation figures across the Atlantic can be explained away by two factors.</p><p><blockquote>然而，与美国数据相比，周三的数据显示，大西洋两岸通胀数据之间3.2个百分点的差距，一半以上可以通过两个因素来解释。</blockquote></p><p> The first is Americans’ reliance on used cars, which make up 3.5% of their consumption baskets, versus 1.1% for Europeans. Auto makers are having production issues due to a microchip shortage. In Europe, consumers have delayed car purchases. In the U.S., they have bid the price of used cars up 42%.</p><p><blockquote>首先是美国人对二手车的依赖，二手车占他们消费篮子的3.5%，而欧洲人这一比例为1.1%。由于微芯片短缺，汽车制造商面临生产问题。在欧洲，消费者推迟了购车时间。在美国，他们将二手车的价格提高了42%。</blockquote></p><p> The other has to do with the way shelter costs are calculated. U.S. numbers include a theoretical category that factors in the rent that owner-occupiers would pay if they rented, whereas European statistics only count those who are actually renting—an issue that the European Central Bank is seeking to address. This has long made eurozone inflation appear lower, and is key now: While rents in both regions are up by a similar amount, they account for a massive 31% of the U.S. CPI basket, and only 7.5% of the European one.</p><p><blockquote>另一个与住房费用的计算方式有关。美国的数据包括一个理论类别，该类别考虑了自住者如果租房将支付的租金，而欧洲的统计数据只计算了那些实际租房的人——这是欧洲央行正在寻求解决的问题。长期以来，这使得欧元区通胀率显得较低，现在也是关键：虽然这两个地区的租金涨幅相似，但它们占美国CPI篮子的31%，仅占欧洲CPI篮子的7.5%。</blockquote></p><p> Of the differences that remain, most seem related to the U.S. having reopened its economy first, particularly travel. Airfares are up 19%, reflecting the degree of normality U.S. carriers are enjoying in the domestic market. Meanwhile, their European counterparts are still dealing with rafts of travel restrictions and have only increased prices 1%. There are similar stories for restaurants and hotels.</p><p><blockquote>在仍然存在的分歧中，大多数似乎与美国首先重新开放经济有关，特别是旅游业。机票价格上涨了19%，反映了美国航空公司在国内市场的正常程度。与此同时，他们的欧洲同行仍在应对大量的旅行限制，并且仅将价格提高了1%。餐馆和酒店也有类似的故事。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d71c445a20f52dd97521b03eb12d417f\" tg-width=\"725\" tg-height=\"415\" width=\"100%\" height=\"auto\">To be sure, the relative surge in some price categories, such as apparel, could be more indicative of demand-led pressure caused by American consumers being awash with cash. But the weakness inthe latest U.S. retail sales datashould be a check on any assumptions that a short-term rebound in spending willnecessarily lead to a sustained boom.</p><p><blockquote>可以肯定的是，服装等某些价格类别的相对飙升可能更能表明美国消费者现金泛滥造成的需求主导压力。但最新美国零售销售数据的疲软应该是对任何假设的检验，即支出的短期反弹必然会导致持续繁荣。</blockquote></p><p> Overall, most goods’ prices have remained remarkably stable during the pandemic. A rebound in services will likely help European headline inflation catch up with its U.S. counterpart somewhat in the coming months. With the labor market recovery far from complete, though, signs of economic overheating on either side of the Atlantic are likely a mathematical mirage.</p><p><blockquote>总体而言，大多数商品的价格在疫情期间保持非常稳定。服务业的反弹可能会在未来几个月帮助欧洲整体通胀率在一定程度上赶上美国。然而，随着劳动力市场复苏远未完成，大西洋两岸经济过热的迹象很可能是数学上的海市蜃楼。</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>Inflation Is Higher in the U.S. Than Elsewhere, but Don’t Panic<blockquote>美国的通货膨胀率高于其他地方，但不要惊慌</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\">\nInflation Is Higher in the U.S. Than Elsewhere, but Don’t Panic<blockquote>美国的通货膨胀率高于其他地方，但不要惊慌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-08-18 22:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  While prices in the eurozone appear to be rising more slowly, the difference isn’t best explained by any inflationary economic policies in Washington.  <img src=\"https://static.tigerbbs.com/ca674d5c6ff01a5f89997288be6364b8\" tg-width=\"871\" tg-height=\"517\" width=\"100%\" height=\"auto\">America likes being exceptional, but too much exceptionalism when it comes to inflation is starting to cause concern. A closer look at the data suggests that investors can keep calm.</p><p><blockquote>尽管欧元区的物价上涨速度似乎较慢，但华盛顿的任何通胀经济政策都无法最好地解释这种差异。美国喜欢例外，但在通胀问题上过多的例外主义开始引起担忧。仔细观察数据表明，投资者可以保持冷静。</blockquote></p><p> On Wednesday, official figures confirmed that the harmonized consumer-price index in the eurozone rose 2.2% in July from a year earlier. This marked an acceleration relative to June, when inflation was 1.9%. But stripping out energy, food, alcohol and tobacco prices to see what is dubbed “core” inflation, the index only rose 0.7%, down from 0.9% the previous month.</p><p><blockquote>周三，官方数据证实，欧元区7月份统一消费者价格指数同比上涨2.2%。这标志着相对于6月份1.9%的通胀率有所加速。但剔除能源、食品、酒精和烟草价格以了解所谓的“核心”通胀，该指数仅上涨0.7%，低于上个月的0.9%。</blockquote></p><p> What is surprising isn’t inflation being too strong in the eurozone, but rather it being too weakrelative to the U.S., where CPI growth reached 5.4% in July, with core inflation at 4.3%.</p><p><blockquote>令人惊讶的不是欧元区的通胀太强，而是相对于美国来说太弱，美国7月份CPI增长率达到5.4%，核心通胀率为4.3%。</blockquote></p><p> Officials argue that today’s inflation is only temporarily higher as global prices rebound from the troughs of the pandemic and companies work through supply bottlenecks. Yet, if it is so much higher in the U.S., doesn’t this mean that excessive fiscal and monetary policy are driving the economy—since transfers to households have been less generous in Europe—and could trigger a dangerous delayed reaction by the Federal Reserve? Some prominent economists think so.</p><p><blockquote>官员们认为，随着全球价格从疫情的低谷反弹以及企业克服供应瓶颈，今天的通胀只是暂时走高。然而，如果美国的利率如此之高，这难道不意味着过度的财政和货币政策正在推动经济发展——因为欧洲对家庭的转移支付不那么慷慨——并可能引发美联储危险的延迟反应吗？一些著名的经济学家是这样认为的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d76c2a0f13ab39592583dd45f8a3a9d2\" tg-width=\"742\" tg-height=\"416\" width=\"100%\" height=\"auto\">Once compared with U.S. data, however, Wednesday’s figures show that more than half of the 3.2-percentage-point gap between inflation figures across the Atlantic can be explained away by two factors.</p><p><blockquote>然而，与美国数据相比，周三的数据显示，大西洋两岸通胀数据之间3.2个百分点的差距，一半以上可以通过两个因素来解释。</blockquote></p><p> The first is Americans’ reliance on used cars, which make up 3.5% of their consumption baskets, versus 1.1% for Europeans. Auto makers are having production issues due to a microchip shortage. In Europe, consumers have delayed car purchases. In the U.S., they have bid the price of used cars up 42%.</p><p><blockquote>首先是美国人对二手车的依赖，二手车占他们消费篮子的3.5%，而欧洲人这一比例为1.1%。由于微芯片短缺，汽车制造商面临生产问题。在欧洲，消费者推迟了购车时间。在美国，他们将二手车的价格提高了42%。</blockquote></p><p> The other has to do with the way shelter costs are calculated. U.S. numbers include a theoretical category that factors in the rent that owner-occupiers would pay if they rented, whereas European statistics only count those who are actually renting—an issue that the European Central Bank is seeking to address. This has long made eurozone inflation appear lower, and is key now: While rents in both regions are up by a similar amount, they account for a massive 31% of the U.S. CPI basket, and only 7.5% of the European one.</p><p><blockquote>另一个与住房费用的计算方式有关。美国的数据包括一个理论类别，该类别考虑了自住者如果租房将支付的租金，而欧洲的统计数据只计算了那些实际租房的人——这是欧洲央行正在寻求解决的问题。长期以来，这使得欧元区通胀率显得较低，现在也是关键：虽然这两个地区的租金涨幅相似，但它们占美国CPI篮子的31%，仅占欧洲CPI篮子的7.5%。</blockquote></p><p> Of the differences that remain, most seem related to the U.S. having reopened its economy first, particularly travel. Airfares are up 19%, reflecting the degree of normality U.S. carriers are enjoying in the domestic market. Meanwhile, their European counterparts are still dealing with rafts of travel restrictions and have only increased prices 1%. There are similar stories for restaurants and hotels.</p><p><blockquote>在仍然存在的分歧中，大多数似乎与美国首先重新开放经济有关，特别是旅游业。机票价格上涨了19%，反映了美国航空公司在国内市场的正常程度。与此同时，他们的欧洲同行仍在应对大量的旅行限制，并且仅将价格提高了1%。餐馆和酒店也有类似的故事。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d71c445a20f52dd97521b03eb12d417f\" tg-width=\"725\" tg-height=\"415\" width=\"100%\" height=\"auto\">To be sure, the relative surge in some price categories, such as apparel, could be more indicative of demand-led pressure caused by American consumers being awash with cash. But the weakness inthe latest U.S. retail sales datashould be a check on any assumptions that a short-term rebound in spending willnecessarily lead to a sustained boom.</p><p><blockquote>可以肯定的是，服装等某些价格类别的相对飙升可能更能表明美国消费者现金泛滥造成的需求主导压力。但最新美国零售销售数据的疲软应该是对任何假设的检验，即支出的短期反弹必然会导致持续繁荣。</blockquote></p><p> Overall, most goods’ prices have remained remarkably stable during the pandemic. A rebound in services will likely help European headline inflation catch up with its U.S. counterpart somewhat in the coming months. With the labor market recovery far from complete, though, signs of economic overheating on either side of the Atlantic are likely a mathematical mirage.</p><p><blockquote>总体而言，大多数商品的价格在疫情期间保持非常稳定。服务业的反弹可能会在未来几个月帮助欧洲整体通胀率在一定程度上赶上美国。然而，随着劳动力市场复苏远未完成，大西洋两岸经济过热的迹象很可能是数学上的海市蜃楼。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/inflation-is-higher-in-the-u-s-than-elsewhere-but-dont-panic-11629296911?mod=rss_markets_main\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/inflation-is-higher-in-the-u-s-than-elsewhere-but-dont-panic-11629296911?mod=rss_markets_main","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181537707","content_text":"While prices in the eurozone appear to be rising more slowly, the difference isn’t best explained by any inflationary economic policies in Washington.\n\nAmerica likes being exceptional, but too much exceptionalism when it comes to inflation is starting to cause concern. A closer look at the data suggests that investors can keep calm.\nOn Wednesday, official figures confirmed that the harmonized consumer-price index in the eurozone rose 2.2% in July from a year earlier. This marked an acceleration relative to June, when inflation was 1.9%. But stripping out energy, food, alcohol and tobacco prices to see what is dubbed “core” inflation, the index only rose 0.7%, down from 0.9% the previous month.\nWhat is surprising isn’t inflation being too strong in the eurozone, but rather it being too weakrelative to the U.S., where CPI growth reached 5.4% in July, with core inflation at 4.3%.\nOfficials argue that today’s inflation is only temporarily higher as global prices rebound from the troughs of the pandemic and companies work through supply bottlenecks. Yet, if it is so much higher in the U.S., doesn’t this mean that excessive fiscal and monetary policy are driving the economy—since transfers to households have been less generous in Europe—and could trigger a dangerous delayed reaction by the Federal Reserve? Some prominent economists think so.\nOnce compared with U.S. data, however, Wednesday’s figures show that more than half of the 3.2-percentage-point gap between inflation figures across the Atlantic can be explained away by two factors.\nThe first is Americans’ reliance on used cars, which make up 3.5% of their consumption baskets, versus 1.1% for Europeans. Auto makers are having production issues due to a microchip shortage. In Europe, consumers have delayed car purchases. In the U.S., they have bid the price of used cars up 42%.\nThe other has to do with the way shelter costs are calculated. U.S. numbers include a theoretical category that factors in the rent that owner-occupiers would pay if they rented, whereas European statistics only count those who are actually renting—an issue that the European Central Bank is seeking to address. This has long made eurozone inflation appear lower, and is key now: While rents in both regions are up by a similar amount, they account for a massive 31% of the U.S. CPI basket, and only 7.5% of the European one.\nOf the differences that remain, most seem related to the U.S. having reopened its economy first, particularly travel. Airfares are up 19%, reflecting the degree of normality U.S. carriers are enjoying in the domestic market. Meanwhile, their European counterparts are still dealing with rafts of travel restrictions and have only increased prices 1%. There are similar stories for restaurants and hotels.\nTo be sure, the relative surge in some price categories, such as apparel, could be more indicative of demand-led pressure caused by American consumers being awash with cash. But the weakness inthe latest U.S. retail sales datashould be a check on any assumptions that a short-term rebound in spending willnecessarily lead to a sustained boom.\nOverall, most goods’ prices have remained remarkably stable during the pandemic. A rebound in services will likely help European headline inflation catch up with its U.S. counterpart somewhat in the coming months. With the labor market recovery far from complete, though, signs of economic overheating on either side of the Atlantic are likely a mathematical mirage.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1804,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839111081,"gmtCreate":1629126132843,"gmtModify":1633687193462,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/839111081","repostId":"2159248377","repostType":4,"isVote":1,"tweetType":1,"viewCount":1779,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830884846,"gmtCreate":1629046738785,"gmtModify":1633687794788,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830884846","repostId":"1127633167","repostType":4,"repost":{"id":"1127633167","kind":"news","pubTimestamp":1628997765,"share":"https://www.laohu8.com/m/news/1127633167?lang=zh_CN&edition=full","pubTime":"2021-08-15 11:22","market":"us","language":"en","title":"These 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127633167","media":"Barrons","summary":"One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors loo","content":"<p>One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.</p><p><blockquote>当今投资界最流行的流行语之一是“复合者”。寻找下一个亚马逊、Costco Wholesale、Nike或Visa的成长型投资者寻求寻找能够在未来几年实现收入和盈利两位数复合增长（最好是两者兼而有之）的公司。</blockquote></p><p> The idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock&nbsp;that returns 10 times what you paid for it.</p><p><blockquote>这个想法是，股价应该与收入和利润保持一致，使投资者能够在五到十年的持有期内产生高回报。最终目标是找到难以捉摸的“10 bagger”——一只回报率是你购买价格10倍的股票。</blockquote></p><p> Wall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified&nbsp;in a&nbsp;<i>Barron’s</i>&nbsp;cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.</p><p><blockquote>华尔街分析师的报告和投资专业人士的客户信函中充满了compounder的参考资料。许多下一代价值管理者，在<i>巴伦周刊</i>五月的封面故事，正在寻找这样的股票，而不是传统的廉价股票的价值票价。</blockquote></p><p> Their search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.</p><p><blockquote>他们的搜索变得更具挑战性，因为买家正在为高增长的故事支付高昂的价格。真正的大赢家很少。Durable Capital Partners的数据显示，在一系列10年期间，只有约35家公司的股价每年复合增长率达到20%或以上，导致股价至少上涨了六倍。</blockquote></p><p> Many investors are happy to stick with large, well-known compounders, such as&nbsp;Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and&nbsp;Eli Lilly(LLY).</p><p><blockquote>许多投资者很乐意继续投资大型知名复合商，例如Alphabet（股票代码：GOOGL）、万事达卡（MA）、联合健康集团（UNH）和礼来公司（LLY）。</blockquote></p><p> <i>Barron’s</i>&nbsp;sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:</p><p><blockquote><i>巴伦周刊</i>试图确定较小的候选人。我们与投资经理进行了交谈，并列出了一份包含10只股票的折衷清单，其中大多数股票的市值低于100亿美元。以下是按字母顺序排列的选择：</blockquote></p><p> Strong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.</p><p><blockquote>强劲而稳定的胜利以下是成长型投资者认为能够多年来持续实现收入或利润高增长的10只股票。</blockquote></p><p> <table>  <thead>   <tr>    <th>Company / Ticker</th>    <th>Recent Price</th>    <th>YTD Change</th>    <th>2021E P/E</th>    <th>2021E Price/Sales</th>    <th>2022E P/E</th>    <th>2022E Price/Sales</th>    <th>LT Growth Rate*</th>    <th>Market Value (bil)</th>    <th>Comment</th>   </tr>  </thead>  <tbody>   <tr>    <td>Amedysis / AMED</td>    <td>$185.15</td>    <td>-37%</td>    <td>30.2</td>    <td>2.7</td>    <td>27.7</td>    <td>2.4</td>    <td>10.5%</td>    <td>$6.3</td>    <td>Leader in home health care</td>   </tr>   <tr>    <td>Amyris / AMRS</td>    <td>13.64</td>    <td>121</td>    <td>NM</td>    <td>10.4</td>    <td>NM</td>    <td>9.7</td>    <td>NA</td>    <td>4.1</td>    <td>Leading company in synthetic biology</td>   </tr>   <tr>    <td>Booz Allen Hamilton Holding / BAH</td>    <td>81.73</td>    <td>-6</td>    <td>19.4</td>    <td>1.3</td>    <td>17.7</td>    <td>1.2</td>    <td>8.6</td>    <td>11.0</td>    <td>Defense-department consultant</td>   </tr>   <tr>    <td>J.B. Hunt Transport Services / JBHT</td>    <td>172.76</td>    <td>26</td>    <td>25.8</td>    <td>1.5</td>    <td>22.2</td>    <td>1.4</td>    <td>18.4</td>    <td>18.2</td>    <td>Strong in intermodal freight</td>   </tr>   <tr>    <td>Marriott Vacations Worldwide / VAC</td>    <td>147.15</td>    <td>7</td>    <td>40.9</td>    <td>1.6</td>    <td>15.7</td>    <td>1.4</td>    <td>NA</td>    <td>6.3</td>    <td>Top company in vacation timeshares</td>   </tr>   <tr>    <td>SiteOne Landscape Supply / SITE</td>    <td>197.10</td>    <td>24</td>    <td>45.7</td>    <td>2.6</td>    <td>43.5</td>    <td>2.5</td>    <td>19.3</td>    <td>8.8</td>    <td>Big supplier of landscaping supplies</td>   </tr>   <tr>    <td>Staar Surgical / STAA</td>    <td>138.19</td>    <td>74</td>    <td>192.3</td>    <td>28.6</td>    <td>140.8</td>    <td>22.5</td>    <td>30.0</td>    <td>6.6</td>    <td>Maker of implantable lens for myopia</td>   </tr>   <tr>    <td>Stitch Fix / SFIX</td>    <td>44.38</td>    <td>-24</td>    <td>NM</td>    <td>1.9</td>    <td>1890.3</td>    <td>1.7</td>    <td>30.0</td>    <td>4.8</td>    <td>Data-driven subscription clothing firm</td>   </tr>   <tr>    <td>Trex / TREX</td>    <td>105.94</td>    <td>27</td>    <td>51.9</td>    <td>10.5</td>    <td>43.6</td>    <td>9.3</td>    <td>18.8</td>    <td>12.2</td>    <td>Top maker of synthetic wood decking</td>   </tr>   <tr>    <td>Upwork / UPWK</td>    <td>44.31</td>    <td>28</td>    <td>NM</td>    <td>11.4</td>    <td>556.8</td>    <td>9.2</td>    <td>NA</td>    <td>5.7</td>    <td>Online clearinghouse for free-lancers</td>   </tr>  </tbody> </table> E=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.</p><p><blockquote><table><thead><tr><th>公司/股票代码</th><th>近期价格</th><th>年初至今变化</th><th>2021年预计市盈率</th><th>2021E价格/销售额</th><th>2022年预计市盈率</th><th>2022E价格/销售额</th><th>LT增长率*</th><th>市值（bil）</th><th>评论</th></tr></thead><tbody><tr><td>Amedysis/AMED</td><td>$185.15</td><td>-37%</td><td>30.2</td><td>2.7</td><td>27.7</td><td>2.4</td><td>10.5%</td><td>$6.3</td><td>家庭医疗保健领域的领导者</td></tr><tr><td>Amyris/AMRS</td><td>13.64</td><td>121</td><td>NM</td><td>10.4</td><td>NM</td><td>9.7</td><td>NA</td><td>4.1</td><td>合成生物学领域的领先公司</td></tr><tr><td>博思艾伦控股/BAH</td><td>81.73</td><td>-6</td><td>19.4</td><td>1.3</td><td>17.7</td><td>1.2</td><td>8.6</td><td>11.0</td><td>国防部顾问</td></tr><tr><td>J.B.亨特运输服务/JBHT</td><td>172.76</td><td>26</td><td>25.8</td><td>1.5</td><td>22.2</td><td>1.4</td><td>18.4</td><td>18.2</td><td>多式联运货运实力强劲</td></tr><tr><td>万豪度假全球/VAC</td><td>147.15</td><td>7</td><td>40.9</td><td>1.6</td><td>15.7</td><td>1.4</td><td>NA</td><td>6.3</td><td>度假分时度假顶级公司</td></tr><tr><td>SiteOne景观供应/站点</td><td>197.10</td><td>24</td><td>45.7</td><td>2.6</td><td>43.5</td><td>2.5</td><td>19.3</td><td>8.8</td><td>园林绿化用品大供应商</td></tr><tr><td>Staar外科/STAA</td><td>138.19</td><td>74</td><td>192.3</td><td>28.6</td><td>140.8</td><td>22.5</td><td>30.0</td><td>6.6</td><td>近视植入式镜片制造商</td></tr><tr><td>缝合固定/SFIX</td><td>44.38</td><td>-24</td><td>NM</td><td>1.9</td><td>1890.3</td><td>1.7</td><td>30.0</td><td>4.8</td><td>数据驱动的订阅服装公司</td></tr><tr><td>Trex/Trex</td><td>105.94</td><td>27</td><td>51.9</td><td>10.5</td><td>43.6</td><td>9.3</td><td>18.8</td><td>12.2</td><td>顶级合成木地板制造商</td></tr><tr><td>Upwork/UPWK</td><td>44.31</td><td>28</td><td>NM</td><td>11.4</td><td>556.8</td><td>9.2</td><td>NA</td><td>5.7</td><td>自由职业者在线信息交换所</td></tr></tbody></table>E=估计值。BAH预估适用于截至2022年3月和3月23日的财年。SFIX预估适用于截至2022年7月和2023年7月的财年。NM=无意义。NA=不可用。*公司未来3-5年可维持的年度每股收益增长。</blockquote></p><p> Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Amedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.</p><p><blockquote>Amedisys(AMED)是一家家庭医疗保健和临终关怀服务提供商，业务仍然分散，业务遍及全国。</blockquote></p><p></p><p> “There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”</p><p><blockquote>哥伦比亚小盘成长基金经理丹·科尔预测，“该行业将会出现大规模整合”。“医疗保健正在向家庭转移。”</blockquote></p><p> Amedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.</p><p><blockquote>Amedisys股价在过去十年中上涨了十倍多。但该公司最近以与新冠疫情相关的人员配备和成本问题（主要是收购的临终关怀业务）为由，下调了2021年财务指引，股价约为185美元，下跌了近30%。2021年盈利预期目前为每股6.13美元，低于近7美元。该股的交易价格是2021年预计利润的30倍。科尔表示，该公司仍有能力实现每股收益10%的年增长。</blockquote></p><p> Amyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.</p><p><blockquote>Amyris(AMRS)是合成生物学领域的领导者。它的粉丝们说，它的机会是以一种环保的方式取代一系列现在由石化产品、动物和植物制成的产品。</blockquote></p><p> Using genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.</p><p><blockquote>Amyris使用基因改造的酵母和甘蔗生产角鲨烷等产品，这是一种以前由鲨鱼肝制成的高端保湿剂；香草醛，香草的调味料；和通常来源于植物的无热量甜味剂。该股交易价格约为13美元。</blockquote></p><p> <i>Barron’s</i>&nbsp;wrote&nbsp;favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.</p><p><blockquote><i>巴伦周刊</i>7月份对该公司进行了好评。Amyris预计，在其消费品牌的推动下，到2025年销售额将达到20亿美元，高于今年预计的4亿美元。</blockquote></p><p> “The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.</p><p><blockquote>拥有Amyris股票的Pinnacle Associates的投资组合经理兰迪·巴伦(Randy Baron)表示：“世界需要清洁化学，而Amyris是创造清洁化学的关键。”他认为到2022年底它们可能会达到75美元。</blockquote></p><p> Booz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.</p><p><blockquote>博思艾伦控股公司（BAH）是国防部和其他机构的重要顾问。美国政府最近一财年的收入占其收入的97%。多年来，博思艾伦通过提供网络安全等一系列服务与政府建立了牢固的关系。其股价约为81美元，收益率为1.8%。</blockquote></p><p> “It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.</p><p><blockquote>T.Rowe Price New Horizons基金经理乔什·斯宾塞(Josh Spencer)表示：“它建立了强大的、类似伙伴关系的文化，并拥有长期稳定增长的记录。”他认为博思艾伦有能力实现9%至10%的收入年增长率和15%至16%的盈利年增长率，与其历史表现一致。由于担心军费开支更加克制，该股较100美元的峰值下跌了20%。斯宾塞将回调视为买入机会，该股的市盈率不到20倍。</blockquote></p><p> J.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the&nbsp;Barron’s Roundtable.</p><p><blockquote>J.B.亨特运输服务公司(JBHT)是多式联运货运领域的领导者，该领域涉及卡车在铁路线上的省油运输。它是最成功的卡车运输公司之一。其股价在过去20年中上涨了30倍，最近达到173美元。“它拥有令人难以置信的特许经营权，”Durable Capital Partners首席投资官、《巴伦周刊》圆桌会议成员亨利·埃伦博根(Henry Ellenbogen)表示。</blockquote></p><p> J.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.</p><p><blockquote>J.B.他指出，亨特与伯灵顿北圣达菲铁路公司的关系使其在多式联运货运领域拥有强大的地位。J.B.亨特的业务也在不断增长，接管了小公司的卡车运输业务。它还参与数字货运经纪业务——为卡车司机和航运客户牵线搭桥。</blockquote></p><p> Ellenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.</p><p><blockquote>Ellenbogen表示，考虑到盈利年增长率为十几岁左右，该股2022年预计利润的22倍是合理的。</blockquote></p><p> Marriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.</p><p><blockquote>万豪度假全球（VAC）是分时度假行业的顶级公司之一。它拥有700,000名业主，拥有富有弹性的商业模式，从费用中获得可观的收入，并且比同行更多地接触夏威夷和佛罗里达州奥兰多等地的豪华房产。</blockquote></p><p> “It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.</p><p><blockquote>Baron Focused Growth基金经理David Baron表示：“它拥有最好的客户群、最高的支出和无可挑剔的资产负债表。”他补充道，万豪度假公司的股价最近约为145美元，应该会在今年晚些时候恢复股息。</blockquote></p><p> The shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.</p><p><blockquote>Baron认为，根据2022年的预测，该股的自由现金流收益率为11%，价格低廉。他表示，该股自2018年以来几乎没有变化，未来几年可能为股东带来20%的年回报率。</blockquote></p><p> SiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.</p><p><blockquote>SiteOne Landscape Supply(SITE)是该国最大的景观美化产品供应商，鉴于其在高度分散的行业中仅占13%的市场份额，因此有充足的扩张机会。</blockquote></p><p> “It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.</p><p><blockquote>哥伦比亚大学的科尔表示：“它正在有机增长，并且有很多收购机会。”他认为该公司的年收入有能力增长10%至15%。</blockquote></p><p> The stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.</p><p><blockquote>该股股价约为197美元，估值很高，交易价格是2022年预计每股收益4.54美元的43倍。</blockquote></p><p> Staar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.</p><p><blockquote>Staar外科公司（STAA）开发了一种可植入晶状体来矫正近视（近视）。鉴于全球视力问题的发病率不断上升，这解决了一个潜在的巨大市场。该公司预计，这款镜片已在欧洲和亚洲上市至少五年，将于第四季度进入美国市场，等待美国食品和药物管理局的批准。</blockquote></p><p></p><p> “It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”</p><p><blockquote>Baillie Gifford全球经理道格·布罗迪(Doug Brodie)表示：“它的销量可能会很大。它还处于起步阶段，基本上没有竞争。”</blockquote></p><p> Lenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.</p><p><blockquote>双眼的晶状体可以在不到一个小时内植入，而且不需要移除天然晶状体。在美国，每个镜片的批发成本可能在1000美元左右。</blockquote></p><p> At a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.</p><p><blockquote>Staar股价最近为138美元，其估值超过2022年预计销售额的20倍，是2022年预计收益的140倍。但市场机会是巨大的：到2050年，全球约有50亿人可能患有近视。</blockquote></p><p> Stitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.</p><p><blockquote>Stitch Fix(SFIX)开发了服装、鞋子和其他配饰的订阅服务，拥有超过400万客户。</blockquote></p><p> “This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.</p><p><blockquote>“这可能是未来的诺德斯特龙，”Stitch Fix持有者Marathon Partners Equity Management首席投资官马里奥·西贝利(Mario Cibelli)表示。“这是一个潜在的巨大市场，没有人以同样的方式解决这个问题。”Stitch Fix利用6000名个人造型师和大量数据，试图确定订户的品味，以产生高满意度，并限制每隔一段时间发送并由订户决定的包裹的回报。</blockquote></p><p> Its shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.</p><p><blockquote>由于投资者对潜在客户流失和业务最终盈利能力的担忧，其股价约为44美元，较今年早些时候的水平下跌了60%。</blockquote></p><p> Yet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.</p><p><blockquote>然而，Cibelli预计收入每年将增长20%以上，在当前美国和英国市场之外还有机会，并且在两到三年内业务可能会非常有利可图。</blockquote></p><p> Trex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.</p><p><blockquote>Trex(TREX)是甲板高端木材替代品的顶级生产商，其95%来自回收材料，使其成为一种环保的住房。该股股价为105美元，是2022年预计市盈率的43倍。</blockquote></p><p> T. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.</p><p><blockquote>T.Rowe Price的Spencer认为Trex物有所值，因为他认为它可以产生15%至20%的可持续年收入增长。预计2022年盈利将增长约20%，并在接下来的几年中以类似的速度增长。“如果你把时间拨快三年，它看起来并没有那么贵，”他说。</blockquote></p><p> Upwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.</p><p><blockquote>Upwork(UPWK)是一个面向自由职业者的在线市场，受到Baillie Gifford的Brodie的青睐，他表示，它可以让企业更好地接受自由职业者。</blockquote></p><p> The shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.</p><p><blockquote>该股最近约为44美元，并不便宜。Upwork的估值为57亿美元，是今年预计销售额近5亿美元的10倍以上。它的运营略有亏损。</blockquote></p><p> The investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.</p><p><blockquote>投资案例是关于快速销售增长带来丰厚收益。预计今年销售额将增长30%以上，2022年将增长25%。</blockquote></p><p> “Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.</p><p><blockquote>“自由职业者更容易被中小型企业接受，但大型企业的人力资源部门却不喜欢他们，”布罗迪说。Upwork旨在通过审查自由职业者和提供数千种技能来改变这种看法。“Upwork可以成为越来越多企业级合作伙伴值得信赖的合作伙伴，”他说。</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>These 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</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\">\nThese 10 Standout Stocks Could Be the Next Amazon<blockquote>这10只杰出股票可能成为下一个亚马逊</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-08-15 11:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.</p><p><blockquote>当今投资界最流行的流行语之一是“复合者”。寻找下一个亚马逊、Costco Wholesale、Nike或Visa的成长型投资者寻求寻找能够在未来几年实现收入和盈利两位数复合增长（最好是两者兼而有之）的公司。</blockquote></p><p> The idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock&nbsp;that returns 10 times what you paid for it.</p><p><blockquote>这个想法是，股价应该与收入和利润保持一致，使投资者能够在五到十年的持有期内产生高回报。最终目标是找到难以捉摸的“10 bagger”——一只回报率是你购买价格10倍的股票。</blockquote></p><p> Wall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified&nbsp;in a&nbsp;<i>Barron’s</i>&nbsp;cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.</p><p><blockquote>华尔街分析师的报告和投资专业人士的客户信函中充满了compounder的参考资料。许多下一代价值管理者，在<i>巴伦周刊</i>五月的封面故事，正在寻找这样的股票，而不是传统的廉价股票的价值票价。</blockquote></p><p> Their search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.</p><p><blockquote>他们的搜索变得更具挑战性，因为买家正在为高增长的故事支付高昂的价格。真正的大赢家很少。Durable Capital Partners的数据显示，在一系列10年期间，只有约35家公司的股价每年复合增长率达到20%或以上，导致股价至少上涨了六倍。</blockquote></p><p> Many investors are happy to stick with large, well-known compounders, such as&nbsp;Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and&nbsp;Eli Lilly(LLY).</p><p><blockquote>许多投资者很乐意继续投资大型知名复合商，例如Alphabet（股票代码：GOOGL）、万事达卡（MA）、联合健康集团（UNH）和礼来公司（LLY）。</blockquote></p><p> <i>Barron’s</i>&nbsp;sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:</p><p><blockquote><i>巴伦周刊</i>试图确定较小的候选人。我们与投资经理进行了交谈，并列出了一份包含10只股票的折衷清单，其中大多数股票的市值低于100亿美元。以下是按字母顺序排列的选择：</blockquote></p><p> Strong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.</p><p><blockquote>强劲而稳定的胜利以下是成长型投资者认为能够多年来持续实现收入或利润高增长的10只股票。</blockquote></p><p> <table>  <thead>   <tr>    <th>Company / Ticker</th>    <th>Recent Price</th>    <th>YTD Change</th>    <th>2021E P/E</th>    <th>2021E Price/Sales</th>    <th>2022E P/E</th>    <th>2022E Price/Sales</th>    <th>LT Growth Rate*</th>    <th>Market Value (bil)</th>    <th>Comment</th>   </tr>  </thead>  <tbody>   <tr>    <td>Amedysis / AMED</td>    <td>$185.15</td>    <td>-37%</td>    <td>30.2</td>    <td>2.7</td>    <td>27.7</td>    <td>2.4</td>    <td>10.5%</td>    <td>$6.3</td>    <td>Leader in home health care</td>   </tr>   <tr>    <td>Amyris / AMRS</td>    <td>13.64</td>    <td>121</td>    <td>NM</td>    <td>10.4</td>    <td>NM</td>    <td>9.7</td>    <td>NA</td>    <td>4.1</td>    <td>Leading company in synthetic biology</td>   </tr>   <tr>    <td>Booz Allen Hamilton Holding / BAH</td>    <td>81.73</td>    <td>-6</td>    <td>19.4</td>    <td>1.3</td>    <td>17.7</td>    <td>1.2</td>    <td>8.6</td>    <td>11.0</td>    <td>Defense-department consultant</td>   </tr>   <tr>    <td>J.B. Hunt Transport Services / JBHT</td>    <td>172.76</td>    <td>26</td>    <td>25.8</td>    <td>1.5</td>    <td>22.2</td>    <td>1.4</td>    <td>18.4</td>    <td>18.2</td>    <td>Strong in intermodal freight</td>   </tr>   <tr>    <td>Marriott Vacations Worldwide / VAC</td>    <td>147.15</td>    <td>7</td>    <td>40.9</td>    <td>1.6</td>    <td>15.7</td>    <td>1.4</td>    <td>NA</td>    <td>6.3</td>    <td>Top company in vacation timeshares</td>   </tr>   <tr>    <td>SiteOne Landscape Supply / SITE</td>    <td>197.10</td>    <td>24</td>    <td>45.7</td>    <td>2.6</td>    <td>43.5</td>    <td>2.5</td>    <td>19.3</td>    <td>8.8</td>    <td>Big supplier of landscaping supplies</td>   </tr>   <tr>    <td>Staar Surgical / STAA</td>    <td>138.19</td>    <td>74</td>    <td>192.3</td>    <td>28.6</td>    <td>140.8</td>    <td>22.5</td>    <td>30.0</td>    <td>6.6</td>    <td>Maker of implantable lens for myopia</td>   </tr>   <tr>    <td>Stitch Fix / SFIX</td>    <td>44.38</td>    <td>-24</td>    <td>NM</td>    <td>1.9</td>    <td>1890.3</td>    <td>1.7</td>    <td>30.0</td>    <td>4.8</td>    <td>Data-driven subscription clothing firm</td>   </tr>   <tr>    <td>Trex / TREX</td>    <td>105.94</td>    <td>27</td>    <td>51.9</td>    <td>10.5</td>    <td>43.6</td>    <td>9.3</td>    <td>18.8</td>    <td>12.2</td>    <td>Top maker of synthetic wood decking</td>   </tr>   <tr>    <td>Upwork / UPWK</td>    <td>44.31</td>    <td>28</td>    <td>NM</td>    <td>11.4</td>    <td>556.8</td>    <td>9.2</td>    <td>NA</td>    <td>5.7</td>    <td>Online clearinghouse for free-lancers</td>   </tr>  </tbody> </table> E=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.</p><p><blockquote><table><thead><tr><th>公司/股票代码</th><th>近期价格</th><th>年初至今变化</th><th>2021年预计市盈率</th><th>2021E价格/销售额</th><th>2022年预计市盈率</th><th>2022E价格/销售额</th><th>LT增长率*</th><th>市值（bil）</th><th>评论</th></tr></thead><tbody><tr><td>Amedysis/AMED</td><td>$185.15</td><td>-37%</td><td>30.2</td><td>2.7</td><td>27.7</td><td>2.4</td><td>10.5%</td><td>$6.3</td><td>家庭医疗保健领域的领导者</td></tr><tr><td>Amyris/AMRS</td><td>13.64</td><td>121</td><td>NM</td><td>10.4</td><td>NM</td><td>9.7</td><td>NA</td><td>4.1</td><td>合成生物学领域的领先公司</td></tr><tr><td>博思艾伦控股/BAH</td><td>81.73</td><td>-6</td><td>19.4</td><td>1.3</td><td>17.7</td><td>1.2</td><td>8.6</td><td>11.0</td><td>国防部顾问</td></tr><tr><td>J.B.亨特运输服务/JBHT</td><td>172.76</td><td>26</td><td>25.8</td><td>1.5</td><td>22.2</td><td>1.4</td><td>18.4</td><td>18.2</td><td>多式联运货运实力强劲</td></tr><tr><td>万豪度假全球/VAC</td><td>147.15</td><td>7</td><td>40.9</td><td>1.6</td><td>15.7</td><td>1.4</td><td>NA</td><td>6.3</td><td>度假分时度假顶级公司</td></tr><tr><td>SiteOne景观供应/站点</td><td>197.10</td><td>24</td><td>45.7</td><td>2.6</td><td>43.5</td><td>2.5</td><td>19.3</td><td>8.8</td><td>园林绿化用品大供应商</td></tr><tr><td>Staar外科/STAA</td><td>138.19</td><td>74</td><td>192.3</td><td>28.6</td><td>140.8</td><td>22.5</td><td>30.0</td><td>6.6</td><td>近视植入式镜片制造商</td></tr><tr><td>缝合固定/SFIX</td><td>44.38</td><td>-24</td><td>NM</td><td>1.9</td><td>1890.3</td><td>1.7</td><td>30.0</td><td>4.8</td><td>数据驱动的订阅服装公司</td></tr><tr><td>Trex/Trex</td><td>105.94</td><td>27</td><td>51.9</td><td>10.5</td><td>43.6</td><td>9.3</td><td>18.8</td><td>12.2</td><td>顶级合成木地板制造商</td></tr><tr><td>Upwork/UPWK</td><td>44.31</td><td>28</td><td>NM</td><td>11.4</td><td>556.8</td><td>9.2</td><td>NA</td><td>5.7</td><td>自由职业者在线信息交换所</td></tr></tbody></table>E=估计值。BAH预估适用于截至2022年3月和3月23日的财年。SFIX预估适用于截至2022年7月和2023年7月的财年。NM=无意义。NA=不可用。*公司未来3-5年可维持的年度每股收益增长。</blockquote></p><p> Source: FactSet</p><p><blockquote>来源：FactSet</blockquote></p><p> Amedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.</p><p><blockquote>Amedisys(AMED)是一家家庭医疗保健和临终关怀服务提供商，业务仍然分散，业务遍及全国。</blockquote></p><p></p><p> “There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”</p><p><blockquote>哥伦比亚小盘成长基金经理丹·科尔预测，“该行业将会出现大规模整合”。“医疗保健正在向家庭转移。”</blockquote></p><p> Amedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.</p><p><blockquote>Amedisys股价在过去十年中上涨了十倍多。但该公司最近以与新冠疫情相关的人员配备和成本问题（主要是收购的临终关怀业务）为由，下调了2021年财务指引，股价约为185美元，下跌了近30%。2021年盈利预期目前为每股6.13美元，低于近7美元。该股的交易价格是2021年预计利润的30倍。科尔表示，该公司仍有能力实现每股收益10%的年增长。</blockquote></p><p> Amyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.</p><p><blockquote>Amyris(AMRS)是合成生物学领域的领导者。它的粉丝们说，它的机会是以一种环保的方式取代一系列现在由石化产品、动物和植物制成的产品。</blockquote></p><p> Using genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.</p><p><blockquote>Amyris使用基因改造的酵母和甘蔗生产角鲨烷等产品，这是一种以前由鲨鱼肝制成的高端保湿剂；香草醛，香草的调味料；和通常来源于植物的无热量甜味剂。该股交易价格约为13美元。</blockquote></p><p> <i>Barron’s</i>&nbsp;wrote&nbsp;favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.</p><p><blockquote><i>巴伦周刊</i>7月份对该公司进行了好评。Amyris预计，在其消费品牌的推动下，到2025年销售额将达到20亿美元，高于今年预计的4亿美元。</blockquote></p><p> “The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.</p><p><blockquote>拥有Amyris股票的Pinnacle Associates的投资组合经理兰迪·巴伦(Randy Baron)表示：“世界需要清洁化学，而Amyris是创造清洁化学的关键。”他认为到2022年底它们可能会达到75美元。</blockquote></p><p> Booz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.</p><p><blockquote>博思艾伦控股公司（BAH）是国防部和其他机构的重要顾问。美国政府最近一财年的收入占其收入的97%。多年来，博思艾伦通过提供网络安全等一系列服务与政府建立了牢固的关系。其股价约为81美元，收益率为1.8%。</blockquote></p><p> “It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.</p><p><blockquote>T.Rowe Price New Horizons基金经理乔什·斯宾塞(Josh Spencer)表示：“它建立了强大的、类似伙伴关系的文化，并拥有长期稳定增长的记录。”他认为博思艾伦有能力实现9%至10%的收入年增长率和15%至16%的盈利年增长率，与其历史表现一致。由于担心军费开支更加克制，该股较100美元的峰值下跌了20%。斯宾塞将回调视为买入机会，该股的市盈率不到20倍。</blockquote></p><p> J.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the&nbsp;Barron’s Roundtable.</p><p><blockquote>J.B.亨特运输服务公司(JBHT)是多式联运货运领域的领导者，该领域涉及卡车在铁路线上的省油运输。它是最成功的卡车运输公司之一。其股价在过去20年中上涨了30倍，最近达到173美元。“它拥有令人难以置信的特许经营权，”Durable Capital Partners首席投资官、《巴伦周刊》圆桌会议成员亨利·埃伦博根(Henry Ellenbogen)表示。</blockquote></p><p> J.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.</p><p><blockquote>J.B.他指出，亨特与伯灵顿北圣达菲铁路公司的关系使其在多式联运货运领域拥有强大的地位。J.B.亨特的业务也在不断增长，接管了小公司的卡车运输业务。它还参与数字货运经纪业务——为卡车司机和航运客户牵线搭桥。</blockquote></p><p> Ellenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.</p><p><blockquote>Ellenbogen表示，考虑到盈利年增长率为十几岁左右，该股2022年预计利润的22倍是合理的。</blockquote></p><p> Marriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.</p><p><blockquote>万豪度假全球（VAC）是分时度假行业的顶级公司之一。它拥有700,000名业主，拥有富有弹性的商业模式，从费用中获得可观的收入，并且比同行更多地接触夏威夷和佛罗里达州奥兰多等地的豪华房产。</blockquote></p><p> “It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.</p><p><blockquote>Baron Focused Growth基金经理David Baron表示：“它拥有最好的客户群、最高的支出和无可挑剔的资产负债表。”他补充道，万豪度假公司的股价最近约为145美元，应该会在今年晚些时候恢复股息。</blockquote></p><p> The shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.</p><p><blockquote>Baron认为，根据2022年的预测，该股的自由现金流收益率为11%，价格低廉。他表示，该股自2018年以来几乎没有变化，未来几年可能为股东带来20%的年回报率。</blockquote></p><p> SiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.</p><p><blockquote>SiteOne Landscape Supply(SITE)是该国最大的景观美化产品供应商，鉴于其在高度分散的行业中仅占13%的市场份额，因此有充足的扩张机会。</blockquote></p><p> “It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.</p><p><blockquote>哥伦比亚大学的科尔表示：“它正在有机增长，并且有很多收购机会。”他认为该公司的年收入有能力增长10%至15%。</blockquote></p><p> The stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.</p><p><blockquote>该股股价约为197美元，估值很高，交易价格是2022年预计每股收益4.54美元的43倍。</blockquote></p><p> Staar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.</p><p><blockquote>Staar外科公司（STAA）开发了一种可植入晶状体来矫正近视（近视）。鉴于全球视力问题的发病率不断上升，这解决了一个潜在的巨大市场。该公司预计，这款镜片已在欧洲和亚洲上市至少五年，将于第四季度进入美国市场，等待美国食品和药物管理局的批准。</blockquote></p><p></p><p> “It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”</p><p><blockquote>Baillie Gifford全球经理道格·布罗迪(Doug Brodie)表示：“它的销量可能会很大。它还处于起步阶段，基本上没有竞争。”</blockquote></p><p> Lenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.</p><p><blockquote>双眼的晶状体可以在不到一个小时内植入，而且不需要移除天然晶状体。在美国，每个镜片的批发成本可能在1000美元左右。</blockquote></p><p> At a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.</p><p><blockquote>Staar股价最近为138美元，其估值超过2022年预计销售额的20倍，是2022年预计收益的140倍。但市场机会是巨大的：到2050年，全球约有50亿人可能患有近视。</blockquote></p><p> Stitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.</p><p><blockquote>Stitch Fix(SFIX)开发了服装、鞋子和其他配饰的订阅服务，拥有超过400万客户。</blockquote></p><p> “This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.</p><p><blockquote>“这可能是未来的诺德斯特龙，”Stitch Fix持有者Marathon Partners Equity Management首席投资官马里奥·西贝利(Mario Cibelli)表示。“这是一个潜在的巨大市场，没有人以同样的方式解决这个问题。”Stitch Fix利用6000名个人造型师和大量数据，试图确定订户的品味，以产生高满意度，并限制每隔一段时间发送并由订户决定的包裹的回报。</blockquote></p><p> Its shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.</p><p><blockquote>由于投资者对潜在客户流失和业务最终盈利能力的担忧，其股价约为44美元，较今年早些时候的水平下跌了60%。</blockquote></p><p> Yet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.</p><p><blockquote>然而，Cibelli预计收入每年将增长20%以上，在当前美国和英国市场之外还有机会，并且在两到三年内业务可能会非常有利可图。</blockquote></p><p> Trex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.</p><p><blockquote>Trex(TREX)是甲板高端木材替代品的顶级生产商，其95%来自回收材料，使其成为一种环保的住房。该股股价为105美元，是2022年预计市盈率的43倍。</blockquote></p><p> T. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.</p><p><blockquote>T.Rowe Price的Spencer认为Trex物有所值，因为他认为它可以产生15%至20%的可持续年收入增长。预计2022年盈利将增长约20%，并在接下来的几年中以类似的速度增长。“如果你把时间拨快三年，它看起来并没有那么贵，”他说。</blockquote></p><p> Upwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.</p><p><blockquote>Upwork(UPWK)是一个面向自由职业者的在线市场，受到Baillie Gifford的Brodie的青睐，他表示，它可以让企业更好地接受自由职业者。</blockquote></p><p> The shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.</p><p><blockquote>该股最近约为44美元，并不便宜。Upwork的估值为57亿美元，是今年预计销售额近5亿美元的10倍以上。它的运营略有亏损。</blockquote></p><p> The investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.</p><p><blockquote>投资案例是关于快速销售增长带来丰厚收益。预计今年销售额将增长30%以上，2022年将增长25%。</blockquote></p><p> “Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.</p><p><blockquote>“自由职业者更容易被中小型企业接受，但大型企业的人力资源部门却不喜欢他们，”布罗迪说。Upwork旨在通过审查自由职业者和提供数千种技能来改变这种看法。“Upwork可以成为越来越多企业级合作伙伴值得信赖的合作伙伴，”他说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-potential-compounder-growth-51628888840?mod=hp_LEADSUPP_2\">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":{"AMED":"阿米斯医疗","VAC":"万豪度假环球","SITE":"SiteOne Landscape Supply, Inc.","AMRS":"阿米瑞斯","JBHT":"JB Hunt运输服务","UPWK":"Upwork Inc.","SFIX":"Stitch Fix Inc.","BAH":"博思艾伦咨询公司","TREX":"Trex Co Inc","STAA":"STAAR Surgical Company"},"source_url":"https://www.barrons.com/articles/stocks-potential-compounder-growth-51628888840?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127633167","content_text":"One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.\nThe idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock that returns 10 times what you paid for it.\nWall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified in a Barron’s cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.\nTheir search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.\nMany investors are happy to stick with large, well-known compounders, such as Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and Eli Lilly(LLY).\nBarron’s sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:\nStrong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.\n\n\n\nCompany / Ticker\nRecent Price\nYTD Change\n2021E P/E\n2021E Price/Sales\n2022E P/E\n2022E Price/Sales\nLT Growth Rate*\nMarket Value (bil)\nComment\n\n\n\n\nAmedysis / AMED\n$185.15\n-37%\n30.2\n2.7\n27.7\n2.4\n10.5%\n$6.3\nLeader in home health care\n\n\nAmyris / AMRS\n13.64\n121\nNM\n10.4\nNM\n9.7\nNA\n4.1\nLeading company in synthetic biology\n\n\nBooz Allen Hamilton Holding / BAH\n81.73\n-6\n19.4\n1.3\n17.7\n1.2\n8.6\n11.0\nDefense-department consultant\n\n\nJ.B. Hunt Transport Services / JBHT\n172.76\n26\n25.8\n1.5\n22.2\n1.4\n18.4\n18.2\nStrong in intermodal freight\n\n\nMarriott Vacations Worldwide / VAC\n147.15\n7\n40.9\n1.6\n15.7\n1.4\nNA\n6.3\nTop company in vacation timeshares\n\n\nSiteOne Landscape Supply / SITE\n197.10\n24\n45.7\n2.6\n43.5\n2.5\n19.3\n8.8\nBig supplier of landscaping supplies\n\n\nStaar Surgical / STAA\n138.19\n74\n192.3\n28.6\n140.8\n22.5\n30.0\n6.6\nMaker of implantable lens for myopia\n\n\nStitch Fix / SFIX\n44.38\n-24\nNM\n1.9\n1890.3\n1.7\n30.0\n4.8\nData-driven subscription clothing firm\n\n\nTrex / TREX\n105.94\n27\n51.9\n10.5\n43.6\n9.3\n18.8\n12.2\nTop maker of synthetic wood decking\n\n\nUpwork / UPWK\n44.31\n28\nNM\n11.4\n556.8\n9.2\nNA\n5.7\nOnline clearinghouse for free-lancers\n\n\n\nE=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.\nSource: FactSet\nAmedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.\n“There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”\nAmedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.\nAmyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.\nUsing genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.\nBarron’s wrote favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.\n“The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.\nBooz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.\n“It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.\nJ.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the Barron’s Roundtable.\nJ.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.\nEllenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.\nMarriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.\n“It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.\nThe shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.\nSiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.\n\n“It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.\nThe stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.\nStaar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.\n“It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”\nLenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.\nAt a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.\nStitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.\n“This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.\nIts shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.\nYet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.\nTrex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.\nT. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.\nUpwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.\nThe shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.\nThe investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.\n“Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.","news_type":1,"symbols_score_info":{"AMRS":0.9,"JBHT":0.9,"TREX":0.9,"SFIX":0.9,"SITE":0.9,"UPWK":0.9,"AMED":0.9,"VAC":0.9,"BAH":0.9,"STAA":0.9}},"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897489770,"gmtCreate":1628957588690,"gmtModify":1633688300385,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/897489770","repostId":"2159321505","repostType":4,"repost":{"id":"2159321505","kind":"highlight","pubTimestamp":1628911811,"share":"https://www.laohu8.com/m/news/2159321505?lang=zh_CN&edition=full","pubTime":"2021-08-14 11:30","market":"us","language":"en","title":"Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2159321505","media":"MarketWatch","summary":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. ","content":"<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员的任期为两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官Elon Musk去年在德国。玛雅·希蒂吉/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚间提交的文件中表示，该公司将于10月7日在加州弗里蒙特工厂举行股东大会，该公司将提出的提案包括缩短董事任期的看涨期权。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项建议是评级将每名董事的任期从三年减至两年。特斯拉董事会目前有九名成员，分为三类，任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个任期交错的类别，董事在两个类别之间的分布尽可能平均。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自2007年以来一直在特斯拉董事会任职的风险投资家Antonio Gracias在2019年表示，今年任期结束后，他不会寻求连任，董事会成员将减少至8名。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名现任董事会成员、新闻集团创始人默多克的小儿子默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的哥哥马斯克（Kimbal Musk）连任二级董事，任期将于2024年届满。该公司表示，如果期限缩减获得批准，那么他们的期限将于2023年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提议选举每位董事会成员一年的回应。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>然而，特斯拉表示，两年的任期“在我们股东的长期利益和近期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日收盘下跌0.7%后，在盘后交易中持平。该股今年已上涨1.6%，而标普500指数的涨幅约为19%。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</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\">\nTesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-14 11:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员的任期为两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官Elon Musk去年在德国。玛雅·希蒂吉/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚间提交的文件中表示，该公司将于10月7日在加州弗里蒙特工厂举行股东大会，该公司将提出的提案包括缩短董事任期的看涨期权。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项建议是评级将每名董事的任期从三年减至两年。特斯拉董事会目前有九名成员，分为三类，任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个任期交错的类别，董事在两个类别之间的分布尽可能平均。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自2007年以来一直在特斯拉董事会任职的风险投资家Antonio Gracias在2019年表示，今年任期结束后，他不会寻求连任，董事会成员将减少至8名。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名现任董事会成员、新闻集团创始人默多克的小儿子默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的哥哥马斯克（Kimbal Musk）连任二级董事，任期将于2024年届满。该公司表示，如果期限缩减获得批准，那么他们的期限将于2023年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提议选举每位董事会成员一年的回应。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>然而，特斯拉表示，两年的任期“在我们股东的长期利益和近期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日收盘下跌0.7%后，在盘后交易中持平。该股今年已上涨1.6%，而标普500指数的涨幅约为19%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159321505","content_text":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES\nTesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.\nOne of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s board currently has nine members who are divided into three classes in staggered three-year terms.\nIf the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the filing.\nThe board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.\nTesla’s board nominated current board members James Murdoch, the youngest son of News Corp founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.\nTesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.\nThe two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.\nTesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&P 500 index.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897337710,"gmtCreate":1628879816030,"gmtModify":1633688802619,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/897337710","repostId":"2159021829","repostType":4,"repost":{"id":"2159021829","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1628868159,"share":"https://www.laohu8.com/m/news/2159021829?lang=zh_CN&edition=full","pubTime":"2021-08-13 23:22","market":"us","language":"en","title":"Biolase Stock Is Trading Higher On Better Than Expected Q2 Earnings<blockquote>Biolase股票因第二季度盈利好于预期而走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2159021829","media":"Benzinga","summary":"\n","content":"<p><ul>  <li><b><a href=\"https://laohu8.com/S/BIOL\">Biolase</a> Inc</b>&nbsp;(NASDAQ:BIOL) shares are trading higher on strong volume after it&nbsp;reported Q2 sales of $9.1 million, +211% Y/Y, edging out a consensus of $8.31 million.</li>  <li>Over 70% of U.S. laser sales came from new customers, continuing a positive trend, and more than 35% of U.S. Waterlase sales came from dental specialists.</li>  <li>Net revenue was 6% higher than the pre-pandemic revenues during the second quarter of 2019.</li>  <li>U.S. and international revenue increased 167% and 340%, respectively, as more dental practices were operating during Q2 than Q2 FY20 due to the pandemic.</li>  <li>Laser system sales increased 424%. Consumables and other revenue increased 173%.</li>  <li>The gross margin expanded to 44% from 32% a year ago due to higher revenue, favorable revenue mix, and higher average selling prices.</li>  <li>During Q2, Biolase was able to break even compared to an EPS loss of $(0.12) a year ago. Cash and cash equivalents totaled $37.1 million.</li>  <li>Biolase forecasts Q3 revenue to be significantly above Q3 FY20 despite the pent-up demand it experienced in last year's Q3 as procedure volume dramatically improved from historically low levels in the 2020 second quarter.</li>  <li><b>Price Action:</b>&nbsp;BIOL shares are up 31.4% at $0.83 during the market session on the last check Friday.</li> </ul></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/BIOL\">生物酶</a>Inc</b>（纳斯达克：BIOL）公布第二季度销售额为910万美元，同比增长211%，超过市场普遍预期的831万美元，股价因成交量强劲而走高。</li><li>超过70%的美国激光销售额来自新客户，延续了积极的趋势，超过35%的美国Waterlase销售额来自牙科专家。</li><li>2019年第二季度净收入比大流行前高出6%。</li><li>美国和国际收入分别增长了167%和340%，因为受疫情影响，第二季度运营的牙科诊所比2020财年第二季度多。</li><li>激光系统销售额增长424%。耗材及其他收入增长173%。</li><li>由于收入增加、有利的收入组合以及平均售价上涨，毛利率从一年前的32%扩大至44%。</li><li>与一年前每股收益亏损(0.12)美元相比，第二季度Biolase能够实现收支平衡。现金和现金等价物总计3710万美元。</li><li>Biolase预计第三季度收入将显着高于2020财年第三季度，尽管去年第三季度的需求被压抑，因为手术量较2020年第二季度的历史低位大幅改善。</li><li><b>价格走势：</b>周五最后一次检查时，BIOL股价上涨31.4%，至0.83美元。</li></ul></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Biolase Stock Is Trading Higher On Better Than Expected Q2 Earnings<blockquote>Biolase股票因第二季度盈利好于预期而走高</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; 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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\">\nBiolase Stock Is Trading Higher On Better Than Expected Q2 Earnings<blockquote>Biolase股票因第二季度盈利好于预期而走高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-08-13 23:22</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><ul>  <li><b><a href=\"https://laohu8.com/S/BIOL\">Biolase</a> Inc</b>&nbsp;(NASDAQ:BIOL) shares are trading higher on strong volume after it&nbsp;reported Q2 sales of $9.1 million, +211% Y/Y, edging out a consensus of $8.31 million.</li>  <li>Over 70% of U.S. laser sales came from new customers, continuing a positive trend, and more than 35% of U.S. Waterlase sales came from dental specialists.</li>  <li>Net revenue was 6% higher than the pre-pandemic revenues during the second quarter of 2019.</li>  <li>U.S. and international revenue increased 167% and 340%, respectively, as more dental practices were operating during Q2 than Q2 FY20 due to the pandemic.</li>  <li>Laser system sales increased 424%. Consumables and other revenue increased 173%.</li>  <li>The gross margin expanded to 44% from 32% a year ago due to higher revenue, favorable revenue mix, and higher average selling prices.</li>  <li>During Q2, Biolase was able to break even compared to an EPS loss of $(0.12) a year ago. Cash and cash equivalents totaled $37.1 million.</li>  <li>Biolase forecasts Q3 revenue to be significantly above Q3 FY20 despite the pent-up demand it experienced in last year's Q3 as procedure volume dramatically improved from historically low levels in the 2020 second quarter.</li>  <li><b>Price Action:</b>&nbsp;BIOL shares are up 31.4% at $0.83 during the market session on the last check Friday.</li> </ul></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/BIOL\">生物酶</a>Inc</b>（纳斯达克：BIOL）公布第二季度销售额为910万美元，同比增长211%，超过市场普遍预期的831万美元，股价因成交量强劲而走高。</li><li>超过70%的美国激光销售额来自新客户，延续了积极的趋势，超过35%的美国Waterlase销售额来自牙科专家。</li><li>2019年第二季度净收入比大流行前高出6%。</li><li>美国和国际收入分别增长了167%和340%，因为受疫情影响，第二季度运营的牙科诊所比2020财年第二季度多。</li><li>激光系统销售额增长424%。耗材及其他收入增长173%。</li><li>由于收入增加、有利的收入组合以及平均售价上涨，毛利率从一年前的32%扩大至44%。</li><li>与一年前每股收益亏损(0.12)美元相比，第二季度Biolase能够实现收支平衡。现金和现金等价物总计3710万美元。</li><li>Biolase预计第三季度收入将显着高于2020财年第三季度，尽管去年第三季度的需求被压抑，因为手术量较2020年第二季度的历史低位大幅改善。</li><li><b>价格走势：</b>周五最后一次检查时，BIOL股价上涨31.4%，至0.83美元。</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QTWO":"Q2 Holdings Inc","BIOL":"Biolase"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159021829","content_text":"Biolase Inc (NASDAQ:BIOL) shares are trading higher on strong volume after it reported Q2 sales of $9.1 million, +211% Y/Y, edging out a consensus of $8.31 million.\nOver 70% of U.S. laser sales came from new customers, continuing a positive trend, and more than 35% of U.S. Waterlase sales came from dental specialists.\nNet revenue was 6% higher than the pre-pandemic revenues during the second quarter of 2019.\nU.S. and international revenue increased 167% and 340%, respectively, as more dental practices were operating during Q2 than Q2 FY20 due to the pandemic.\nLaser system sales increased 424%. Consumables and other revenue increased 173%.\nThe gross margin expanded to 44% from 32% a year ago due to higher revenue, favorable revenue mix, and higher average selling prices.\nDuring Q2, Biolase was able to break even compared to an EPS loss of $(0.12) a year ago. Cash and cash equivalents totaled $37.1 million.\nBiolase forecasts Q3 revenue to be significantly above Q3 FY20 despite the pent-up demand it experienced in last year's Q3 as procedure volume dramatically improved from historically low levels in the 2020 second quarter.\nPrice Action: BIOL shares are up 31.4% at $0.83 during the market session on the last check Friday.","news_type":1,"symbols_score_info":{"QTWO":0.9,"BIOL":0.9}},"isVote":1,"tweetType":1,"viewCount":519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896728401,"gmtCreate":1628606437503,"gmtModify":1633745769680,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/896728401","repostId":"2158561472","repostType":4,"isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898835544,"gmtCreate":1628483261288,"gmtModify":1633746792295,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898835544","repostId":"1136322726","repostType":4,"isVote":1,"tweetType":1,"viewCount":516,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891506404,"gmtCreate":1628396325508,"gmtModify":1633747374683,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/891506404","repostId":"1159872041","repostType":4,"repost":{"id":"1159872041","kind":"news","pubTimestamp":1628385224,"share":"https://www.laohu8.com/m/news/1159872041?lang=zh_CN&edition=full","pubTime":"2021-08-08 09:13","market":"us","language":"en","title":"Tesla Stock: Headed to $1,200?<blockquote>特斯拉股票：将升至1,200美元？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159872041","media":"Motley Fool","summary":"Tesla deliveries more than doubled year over year in Q2.Rising demand for electric vehicles could benefit Tesla.Investors should exercise caution when it comes to analysts' price targets.It's been a wild year for Teslastock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.In February,Piper Sandler analys","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Tesla deliveries more than doubled year over year in Q2.</li>  <li>Rising demand for electric vehicles could benefit Tesla.</li>  <li>Investors should exercise caution when it comes to analysts' price targets.</li> </ul> It's been a wild year for&nbsp;<b>Tesla</b>(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the&nbsp;<b>S&amp;P 500</b>'s 18% gain this year.</p><p><blockquote><ul><li>特斯拉第二季度的交付量同比增长了一倍多。</li><li>电动汽车需求的增长可能有利于特斯拉。</li><li>投资者在考虑分析师的目标价时应保持谨慎。</li></ul>这是疯狂的一年<b>特斯拉</b>（纳斯达克：TSLA）股票。今年年初，股价最初飙升超过20%。但该股现在已经回吐了所有涨幅，今年迄今的回报率为负1%。这意味着该股的表现明显落后于<b>标普500</b>今年增长了18%。</blockquote></p><p> But one analyst thinks the stock could take off.</p><p><blockquote>但一位分析师认为该股可能会起飞。</blockquote></p><p> <b>\"We still really like this stock.\"</b></p><p><blockquote><b>“我们仍然非常喜欢这只股票。”</b></blockquote></p><p> In February,<b>Piper Sandler</b>&nbsp;analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.</p><p><blockquote>2月份，<b>派珀·桑德勒</b>分析师Alexander Potter做出了大胆的看涨期权，将这只成长型股票的12个月目标价从515美元上调至1,200美元。他表示，特斯拉的交付量可能会从2020年的50万辆增加到今年的近90万辆。当然，这一预测是在全球供应短缺恶化之前做出的。尽管如此，特斯拉的增长速度极快。该公司第二季度的交付量比去年同期增长了一倍多，达到201,304辆。</blockquote></p><p> Following Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.</p><p><blockquote>继特斯拉上月底发布第二季度财报后，该分析师重申了这一目标，并指出该公司似乎有望受益于市场份额的增长、该公司自动驾驶软件的货币化以及特斯拉能源业务中“未被充分重视的机会”，其中包括电池储能和太阳能发电产品的收入。</blockquote></p><p> Further, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.</p><p><blockquote>此外，波特指出，特斯拉第二季度营业利润率强劲，为11%，他预计特斯拉最近推出的Autopilot订阅将带来增量改善。</blockquote></p><p> On Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.</p><p><blockquote>8月3日，波特再次重申了跑赢大盘对该股的评级和1200美元的目标价，称“我们仍然非常喜欢这只股票”。他指出，总体而言，对纯电动汽车的需求不断增长。</blockquote></p><p> <b>So what gives?</b></p><p><blockquote><b>那么是什么给了？</b></blockquote></p><p> If shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.</p><p><blockquote>如果股价真的能涨到1200美元，为什么这么多投资者似乎认为该股的价值如此之低（基于撰写本文时该股的价格略低于700美元）。毕竟，如果投资者普遍认为特斯拉股票在未来12个月内可能达到1,200美元，那么今天的股价将大幅走高。</blockquote></p><p> The issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.</p><p><blockquote>问题归结为股票的前瞻性估值。截至撰写本文时，特斯拉股价的市盈率约为370，很大程度上预计未来几年将强劲增长。由于该公司的估值很大程度上基于未来的利润，因此对特斯拉未来增长轨迹的看法略有差异，就会对该股目前的内在价值产生截然不同的假设。</blockquote></p><p> Investors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.</p><p><blockquote>因此，投资者不应仅仅因为一位分析师的股价目标较高就急于购买特斯拉股票。尽管如此，波特确实对特斯拉强劲的商业势头有一些优点。就连特斯拉本身也重申了今年汽车交付量增长50%以上的指导意见，而这一指导意见是在全球许多公司（包括特斯拉）都受到供应链短缺的负面影响之际提供的。此外，特斯拉管理层在第二季度更新中指出，进入第三季度，对其车辆的需求创历史新高。</blockquote></p><p> While a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.</p><p><blockquote>虽然特斯拉股票1,200美元的目标价很难证明合理，但该股的交易价格可能足够低，投资者可以在该股建立少量头寸。</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>Tesla Stock: Headed to $1,200?<blockquote>特斯拉股票：将升至1,200美元？</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\">\nTesla Stock: Headed to $1,200?<blockquote>特斯拉股票：将升至1,200美元？</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\">2021-08-08 09:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Tesla deliveries more than doubled year over year in Q2.</li>  <li>Rising demand for electric vehicles could benefit Tesla.</li>  <li>Investors should exercise caution when it comes to analysts' price targets.</li> </ul> It's been a wild year for&nbsp;<b>Tesla</b>(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the&nbsp;<b>S&amp;P 500</b>'s 18% gain this year.</p><p><blockquote><ul><li>特斯拉第二季度的交付量同比增长了一倍多。</li><li>电动汽车需求的增长可能有利于特斯拉。</li><li>投资者在考虑分析师的目标价时应保持谨慎。</li></ul>这是疯狂的一年<b>特斯拉</b>（纳斯达克：TSLA）股票。今年年初，股价最初飙升超过20%。但该股现在已经回吐了所有涨幅，今年迄今的回报率为负1%。这意味着该股的表现明显落后于<b>标普500</b>今年增长了18%。</blockquote></p><p> But one analyst thinks the stock could take off.</p><p><blockquote>但一位分析师认为该股可能会起飞。</blockquote></p><p> <b>\"We still really like this stock.\"</b></p><p><blockquote><b>“我们仍然非常喜欢这只股票。”</b></blockquote></p><p> In February,<b>Piper Sandler</b>&nbsp;analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.</p><p><blockquote>2月份，<b>派珀·桑德勒</b>分析师Alexander Potter做出了大胆的看涨期权，将这只成长型股票的12个月目标价从515美元上调至1,200美元。他表示，特斯拉的交付量可能会从2020年的50万辆增加到今年的近90万辆。当然，这一预测是在全球供应短缺恶化之前做出的。尽管如此，特斯拉的增长速度极快。该公司第二季度的交付量比去年同期增长了一倍多，达到201,304辆。</blockquote></p><p> Following Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.</p><p><blockquote>继特斯拉上月底发布第二季度财报后，该分析师重申了这一目标，并指出该公司似乎有望受益于市场份额的增长、该公司自动驾驶软件的货币化以及特斯拉能源业务中“未被充分重视的机会”，其中包括电池储能和太阳能发电产品的收入。</blockquote></p><p> Further, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.</p><p><blockquote>此外，波特指出，特斯拉第二季度营业利润率强劲，为11%，他预计特斯拉最近推出的Autopilot订阅将带来增量改善。</blockquote></p><p> On Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.</p><p><blockquote>8月3日，波特再次重申了跑赢大盘对该股的评级和1200美元的目标价，称“我们仍然非常喜欢这只股票”。他指出，总体而言，对纯电动汽车的需求不断增长。</blockquote></p><p> <b>So what gives?</b></p><p><blockquote><b>那么是什么给了？</b></blockquote></p><p> If shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.</p><p><blockquote>如果股价真的能涨到1200美元，为什么这么多投资者似乎认为该股的价值如此之低（基于撰写本文时该股的价格略低于700美元）。毕竟，如果投资者普遍认为特斯拉股票在未来12个月内可能达到1,200美元，那么今天的股价将大幅走高。</blockquote></p><p> The issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.</p><p><blockquote>问题归结为股票的前瞻性估值。截至撰写本文时，特斯拉股价的市盈率约为370，很大程度上预计未来几年将强劲增长。由于该公司的估值很大程度上基于未来的利润，因此对特斯拉未来增长轨迹的看法略有差异，就会对该股目前的内在价值产生截然不同的假设。</blockquote></p><p> Investors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.</p><p><blockquote>因此，投资者不应仅仅因为一位分析师的股价目标较高就急于购买特斯拉股票。尽管如此，波特确实对特斯拉强劲的商业势头有一些优点。就连特斯拉本身也重申了今年汽车交付量增长50%以上的指导意见，而这一指导意见是在全球许多公司（包括特斯拉）都受到供应链短缺的负面影响之际提供的。此外，特斯拉管理层在第二季度更新中指出，进入第三季度，对其车辆的需求创历史新高。</blockquote></p><p> While a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.</p><p><blockquote>虽然特斯拉股票1,200美元的目标价很难证明合理，但该股的交易价格可能足够低，投资者可以在该股建立少量头寸。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/\">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":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159872041","content_text":"Key Points\n\nTesla deliveries more than doubled year over year in Q2.\nRising demand for electric vehicles could benefit Tesla.\nInvestors should exercise caution when it comes to analysts' price targets.\n\nIt's been a wild year for Tesla(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.\nBut one analyst thinks the stock could take off.\n\"We still really like this stock.\"\nIn February,Piper Sandler analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.\nFollowing Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.\nFurther, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.\nOn Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.\nSo what gives?\nIf shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.\nThe issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.\nInvestors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.\nWhile a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891908646,"gmtCreate":1628312863785,"gmtModify":1633751715808,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/891908646","repostId":"1119792130","repostType":4,"isVote":1,"tweetType":1,"viewCount":372,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893833292,"gmtCreate":1628253480716,"gmtModify":1633752236938,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/893833292","repostId":"1165886209","repostType":4,"isVote":1,"tweetType":1,"viewCount":556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807399064,"gmtCreate":1627999365858,"gmtModify":1633754515558,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807399064","repostId":"1163742974","repostType":4,"repost":{"id":"1163742974","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":1627998920,"share":"https://www.laohu8.com/m/news/1163742974?lang=zh_CN&edition=full","pubTime":"2021-08-03 21:55","market":"us","language":"en","title":"American Express, Goldman Sachs share losses lead Dow's nearly 100-point fall<blockquote>美国运通、高盛股价下跌导致道指下跌近100点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163742974","media":"Tiger Newspress","summary":"(Aug 3) American Express, Goldman Sachs share losses lead Dow's nearly 100-point fall.","content":"<p>(Aug&nbsp;3)&nbsp;<a href=\"https://laohu8.com/S/AXP\">American Express</a>, <a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a> share losses lead Dow's nearly 100-point fall.</p><p><blockquote>（8月3日）<a href=\"https://laohu8.com/S/AXP\">美国运通</a>,<a href=\"https://laohu8.com/S/GS\">高盛</a>股价下跌导致道琼斯指数下跌近100点。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/64d05108ec2cbef2545b18f6047863a4\" tg-width=\"962\" tg-height=\"893\" 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>American Express, Goldman Sachs share losses lead Dow's nearly 100-point fall<blockquote>美国运通、高盛股价下跌导致道指下跌近100点</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmerican Express, Goldman Sachs share losses lead Dow's nearly 100-point fall<blockquote>美国运通、高盛股价下跌导致道指下跌近100点</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\">2021-08-03 21:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug&nbsp;3)&nbsp;<a href=\"https://laohu8.com/S/AXP\">American Express</a>, <a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a> share losses lead Dow's nearly 100-point fall.</p><p><blockquote>（8月3日）<a href=\"https://laohu8.com/S/AXP\">美国运通</a>,<a href=\"https://laohu8.com/S/GS\">高盛</a>股价下跌导致道琼斯指数下跌近100点。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/64d05108ec2cbef2545b18f6047863a4\" tg-width=\"962\" tg-height=\"893\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛","EXPR":"Express, Inc.","AXP":"美国运通","AFG":"美国金融集团有限公司"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163742974","content_text":"(Aug 3) American Express, Goldman Sachs share losses lead Dow's nearly 100-point fall.","news_type":1,"symbols_score_info":{"EXPR":0.9,"AFG":0.9,"AXP":0.9,"GS":0.9,"AMSWA":0.9}},"isVote":1,"tweetType":1,"viewCount":786,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805910350,"gmtCreate":1627834349170,"gmtModify":1633756052907,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087482257900820","idStr":"4087482257900820"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/805910350","repostId":"2155001152","repostType":4,"isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":835434898,"gmtCreate":1629730820814,"gmtModify":1633682850950,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087482257900820","authorIdStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/835434898","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":1700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811412113,"gmtCreate":1630336086632,"gmtModify":1704958750780,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087482257900820","authorIdStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/811412113","repostId":"1132759749","repostType":4,"isVote":1,"tweetType":1,"viewCount":1614,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810418948,"gmtCreate":1629991567084,"gmtModify":1704954345147,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087482257900820","authorIdStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/810418948","repostId":"1181699797","repostType":4,"repost":{"id":"1181699797","kind":"news","pubTimestamp":1629991501,"share":"https://www.laohu8.com/m/news/1181699797?lang=zh_CN&edition=full","pubTime":"2021-08-26 23:25","market":"us","language":"en","title":"3 Reasons to Buy This Cathie Wood Growth Stock, and 1 Reason Not to<blockquote>购买Cathie Wood成长型股票的3个理由和不购买的1个理由</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181699797","media":"Motley Fool","summary":"Key Points\n\nCathie Wood's ARK Innovation ETF owns $1.2 billion of this growth stock.\nThis beaten-dow","content":"<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Cathie Wood's ARK Innovation ETF owns $1.2 billion of this growth stock.</li>  <li>This beaten-down growth stock is the third-largest holding in the ARK Innovation ETF.</li>  <li>The stock is down 25% in the last month and is trading at a forward price-to-sales ratio of 17.</li> </ul> As of this writing,<b>Roku</b>(NASDAQ:ROKU)&nbsp;is the third-largest holding in Cathie Wood's&nbsp;<b>ARK Innovation ETF</b>&nbsp;portfolio of stocks. The popular asset manager's fund holds over 3.2 million shares of the enabler of streaming content. That's a total value of almost $1.2 billion and makes up 5.4% of the portfolio.</p><p><blockquote><ul><li>Cathie Wood的ARK Innovation ETF拥有12亿美元的这只成长型股票。</li><li>这只遭受重创的成长型股票是ARK Innovation ETF的第三大持股。</li><li>该股上个月下跌了25%，预期市销率为17。</li></ul>在撰写本文时，<b>Roku</b>（纳斯达克：ROKU）是Cathie Wood的第三大持股<b>方舟创新ETF</b>股票投资组合。这家受欢迎的资产管理公司的基金持有超过320万股流媒体内容推动者的股票。总价值近12亿美元，占投资组合的5.4%。</blockquote></p><p> Roku's stock price is down 25% in the last month as the market has turned sour on so-called stay-at-home stocks that benefited during the pandemic. However, that could be a buying opportunity for long-term investors.</p><p><blockquote>Roku的股价上个月下跌了25%，因为市场对在大流行期间受益的所谓居家股票产生了负面影响。然而，对于长期投资者来说，这可能是一个买入机会。</blockquote></p><p> Let's look at three reasons to buy this Cathie Wood favorite and one reason for caution.</p><p><blockquote>让我们来看看购买这款Cathie Wood最爱的三个理由和一个谨慎的理由。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60f745a9bfdad7ca6a5f3c3bc1009467\" tg-width=\"2000\" tg-height=\"1334\" 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>1. More content is shifting to streaming from linear TV</b></p><p><blockquote><b>1.更多内容正从线性电视转向流媒体</b></blockquote></p><p> More and more consumers are switching from linear TV connections to streaming content. Still, there is a long way to go before the transition runs its course. One estimate suggests in 18- to 45-year-olds, only 39% of their TV watching is streaming, highlighting that there is plenty of room for the shift to continue.</p><p><blockquote>越来越多的消费者正在从线性电视连接转向流媒体内容。尽管如此，在过渡完成之前还有很长的路要走。一项估计表明，在18至45岁的人群中，只有39%的电视观看是流媒体，这突显出这种转变还有很大的继续空间。</blockquote></p><p> <b>2. Roku has a great operating system that customers love</b></p><p><blockquote><b>2.Roku拥有客户喜爱的出色操作系统</b></blockquote></p><p> Roku enables this transition by selling hardware (streaming players) that connects TVs to its operating system. Additionally, it works with manufacturers to have its operating system built into TVs. Indeed, Roku is the leading operating system in TVs in the U.S. and Canada, and it's making good progress in Brazil and Mexico. Roku's system is proven to be reliable and reduces costs for manufacturers. Those features have helped Roku attract 55.1 million active accounts, up 28% from last year; a figure that is likely to grow as Roku continues its international expansion.</p><p><blockquote>Roku通过销售将电视连接到其操作系统的硬件（流媒体播放器）来实现这一转变。此外，它还与制造商合作，将其操作系统内置到电视中。事实上，Roku是美国和加拿大领先的电视操作系统，它在巴西和墨西哥也取得了良好的进展。Roku的系统被证明是可靠的，并降低了制造商的成本。这些功能帮助Roku吸引了5510万活跃账户，比去年增长了28%；随着Roku继续其国际扩张，这一数字可能会增长。</blockquote></p><p> <b>3. Roku is expanding internationally</b></p><p><blockquote><b>3.Roku正在向国际扩张</b></blockquote></p><p> The next market Roku will enter is Germany later this year. If Roku can match the success it's achieving in existing markets -- and there is no reason to think it won't -- it can continue to attract new customers. Indeed, the plan from management on international expansion is to keep doing more of the same, since it's working so well. During the&nbsp;second-quarter earnings call&nbsp;earlier this month, founder and CEO Anthony Wood commented:</p><p><blockquote>Roku将于今年晚些时候进入的下一个市场是德国。如果Roku能够达到其在现有市场取得的成功——而且没有理由认为它不会——它就可以继续吸引新客户。事实上，管理层关于国际扩张的计划是继续做更多同样的事情，因为它运作得非常好。在本月早些时候的第二季度财报看涨期权上，创始人兼首席执行官Anthony Wood评论道：</blockquote></p><p>   In terms of growing active accounts globally, the strategy we're using is the same that worked for us well in the U.S., which is to focus on building active accounts, well, in terms of our business model internationally, it's to focus on building active accounts, engaging those users and then monetizing those users. And the way we are building active accounts is through selling our streaming players and licensing our operating system to TV manufacturers and coming to market with Roku TVs. Both of those are working well for us.  <b>A concern? Roku's valuation is not cheap</b></p><p><blockquote>就增加全球活跃账户而言，我们使用的策略与在美国行之有效的策略相同，即专注于建立活跃账户，就我们在国际上的商业模式而言，专注于建立活跃账户，吸引这些用户，然后将这些用户货币化。我们建立活跃账户的方式是销售我们的流媒体播放器，将我们的操作系统授权给电视制造商，并与Roku电视一起进入市场。这两者对我们都很有效。<b>担心？Roku的估值并不便宜</b></blockquote></p><p> The one reason to be hesitant about Roku stock right now is that it isn't cheap, despite falling in value by 25% in the last month. It's trading at a forward price-to-sales ratio of 16.73, down from nearly 25 earlier in the year. To be sure, Roku has excellent long-run prospects. However, that might already be priced into the stock at this price. Furthermore, the company has challenges in the near term, such as the negative effects of economic reopenings and&nbsp;supply chain issues, which are causing shortages in materials and harming profit margins.</p><p><blockquote>目前对Roku股票犹豫不决的一个原因是，尽管上个月股价下跌了25%，但它并不便宜。该公司的远期市销率为16.73，低于今年早些时候的近25。可以肯定的是，Roku拥有良好的长期前景。然而，这可能已经以这个价格计入股票中。此外，该公司短期内还面临挑战，例如经济重新开放和供应链问题的负面影响，这些问题导致材料短缺并损害利润率。</blockquote></p><p> All things considered, it may be prudent for investors to wait for an additional&nbsp;pullback&nbsp;in the stock price before accumulating shares in Roku. Or you could wait for supply chain issues and financial impacts from economic reopenings to play out before buying Roku&nbsp;stock.</p><p><blockquote>综合考虑，投资者在增持Roku股票之前等待股价进一步回调可能是谨慎的做法。或者，您可以等待供应链问题和经济重新开放带来的财务影响显现出来后再购买Roku股票。</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 Reasons to Buy This Cathie Wood Growth Stock, and 1 Reason Not to<blockquote>购买Cathie Wood成长型股票的3个理由和不购买的1个理由</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Reasons to Buy This Cathie Wood Growth Stock, and 1 Reason Not to<blockquote>购买Cathie Wood成长型股票的3个理由和不购买的1个理由</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\">2021-08-26 23:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul>  <li>Cathie Wood's ARK Innovation ETF owns $1.2 billion of this growth stock.</li>  <li>This beaten-down growth stock is the third-largest holding in the ARK Innovation ETF.</li>  <li>The stock is down 25% in the last month and is trading at a forward price-to-sales ratio of 17.</li> </ul> As of this writing,<b>Roku</b>(NASDAQ:ROKU)&nbsp;is the third-largest holding in Cathie Wood's&nbsp;<b>ARK Innovation ETF</b>&nbsp;portfolio of stocks. The popular asset manager's fund holds over 3.2 million shares of the enabler of streaming content. That's a total value of almost $1.2 billion and makes up 5.4% of the portfolio.</p><p><blockquote><ul><li>Cathie Wood的ARK Innovation ETF拥有12亿美元的这只成长型股票。</li><li>这只遭受重创的成长型股票是ARK Innovation ETF的第三大持股。</li><li>该股上个月下跌了25%，预期市销率为17。</li></ul>在撰写本文时，<b>Roku</b>（纳斯达克：ROKU）是Cathie Wood的第三大持股<b>方舟创新ETF</b>股票投资组合。这家受欢迎的资产管理公司的基金持有超过320万股流媒体内容推动者的股票。总价值近12亿美元，占投资组合的5.4%。</blockquote></p><p> Roku's stock price is down 25% in the last month as the market has turned sour on so-called stay-at-home stocks that benefited during the pandemic. However, that could be a buying opportunity for long-term investors.</p><p><blockquote>Roku的股价上个月下跌了25%，因为市场对在大流行期间受益的所谓居家股票产生了负面影响。然而，对于长期投资者来说，这可能是一个买入机会。</blockquote></p><p> Let's look at three reasons to buy this Cathie Wood favorite and one reason for caution.</p><p><blockquote>让我们来看看购买这款Cathie Wood最爱的三个理由和一个谨慎的理由。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60f745a9bfdad7ca6a5f3c3bc1009467\" tg-width=\"2000\" tg-height=\"1334\" 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>1. More content is shifting to streaming from linear TV</b></p><p><blockquote><b>1.更多内容正从线性电视转向流媒体</b></blockquote></p><p> More and more consumers are switching from linear TV connections to streaming content. Still, there is a long way to go before the transition runs its course. One estimate suggests in 18- to 45-year-olds, only 39% of their TV watching is streaming, highlighting that there is plenty of room for the shift to continue.</p><p><blockquote>越来越多的消费者正在从线性电视连接转向流媒体内容。尽管如此，在过渡完成之前还有很长的路要走。一项估计表明，在18至45岁的人群中，只有39%的电视观看是流媒体，这突显出这种转变还有很大的继续空间。</blockquote></p><p> <b>2. Roku has a great operating system that customers love</b></p><p><blockquote><b>2.Roku拥有客户喜爱的出色操作系统</b></blockquote></p><p> Roku enables this transition by selling hardware (streaming players) that connects TVs to its operating system. Additionally, it works with manufacturers to have its operating system built into TVs. Indeed, Roku is the leading operating system in TVs in the U.S. and Canada, and it's making good progress in Brazil and Mexico. Roku's system is proven to be reliable and reduces costs for manufacturers. Those features have helped Roku attract 55.1 million active accounts, up 28% from last year; a figure that is likely to grow as Roku continues its international expansion.</p><p><blockquote>Roku通过销售将电视连接到其操作系统的硬件（流媒体播放器）来实现这一转变。此外，它还与制造商合作，将其操作系统内置到电视中。事实上，Roku是美国和加拿大领先的电视操作系统，它在巴西和墨西哥也取得了良好的进展。Roku的系统被证明是可靠的，并降低了制造商的成本。这些功能帮助Roku吸引了5510万活跃账户，比去年增长了28%；随着Roku继续其国际扩张，这一数字可能会增长。</blockquote></p><p> <b>3. Roku is expanding internationally</b></p><p><blockquote><b>3.Roku正在向国际扩张</b></blockquote></p><p> The next market Roku will enter is Germany later this year. If Roku can match the success it's achieving in existing markets -- and there is no reason to think it won't -- it can continue to attract new customers. Indeed, the plan from management on international expansion is to keep doing more of the same, since it's working so well. During the&nbsp;second-quarter earnings call&nbsp;earlier this month, founder and CEO Anthony Wood commented:</p><p><blockquote>Roku将于今年晚些时候进入的下一个市场是德国。如果Roku能够达到其在现有市场取得的成功——而且没有理由认为它不会——它就可以继续吸引新客户。事实上，管理层关于国际扩张的计划是继续做更多同样的事情，因为它运作得非常好。在本月早些时候的第二季度财报看涨期权上，创始人兼首席执行官Anthony Wood评论道：</blockquote></p><p>   In terms of growing active accounts globally, the strategy we're using is the same that worked for us well in the U.S., which is to focus on building active accounts, well, in terms of our business model internationally, it's to focus on building active accounts, engaging those users and then monetizing those users. And the way we are building active accounts is through selling our streaming players and licensing our operating system to TV manufacturers and coming to market with Roku TVs. Both of those are working well for us.  <b>A concern? Roku's valuation is not cheap</b></p><p><blockquote>就增加全球活跃账户而言，我们使用的策略与在美国行之有效的策略相同，即专注于建立活跃账户，就我们在国际上的商业模式而言，专注于建立活跃账户，吸引这些用户，然后将这些用户货币化。我们建立活跃账户的方式是销售我们的流媒体播放器，将我们的操作系统授权给电视制造商，并与Roku电视一起进入市场。这两者对我们都很有效。<b>担心？Roku的估值并不便宜</b></blockquote></p><p> The one reason to be hesitant about Roku stock right now is that it isn't cheap, despite falling in value by 25% in the last month. It's trading at a forward price-to-sales ratio of 16.73, down from nearly 25 earlier in the year. To be sure, Roku has excellent long-run prospects. However, that might already be priced into the stock at this price. Furthermore, the company has challenges in the near term, such as the negative effects of economic reopenings and&nbsp;supply chain issues, which are causing shortages in materials and harming profit margins.</p><p><blockquote>目前对Roku股票犹豫不决的一个原因是，尽管上个月股价下跌了25%，但它并不便宜。该公司的远期市销率为16.73，低于今年早些时候的近25。可以肯定的是，Roku拥有良好的长期前景。然而，这可能已经以这个价格计入股票中。此外，该公司短期内还面临挑战，例如经济重新开放和供应链问题的负面影响，这些问题导致材料短缺并损害利润率。</blockquote></p><p> All things considered, it may be prudent for investors to wait for an additional&nbsp;pullback&nbsp;in the stock price before accumulating shares in Roku. Or you could wait for supply chain issues and financial impacts from economic reopenings to play out before buying Roku&nbsp;stock.</p><p><blockquote>综合考虑，投资者在增持Roku股票之前等待股价进一步回调可能是谨慎的做法。或者，您可以等待供应链问题和经济重新开放带来的财务影响显现出来后再购买Roku股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/08/26/3-reasons-to-buy-this-cathie-wood-growth-stock-and/\">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":{"ARKK":"ARK Innovation ETF","ROKU":"Roku Inc"},"source_url":"https://www.fool.com/investing/2021/08/26/3-reasons-to-buy-this-cathie-wood-growth-stock-and/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181699797","content_text":"Key Points\n\nCathie Wood's ARK Innovation ETF owns $1.2 billion of this growth stock.\nThis beaten-down growth stock is the third-largest holding in the ARK Innovation ETF.\nThe stock is down 25% in the last month and is trading at a forward price-to-sales ratio of 17.\n\nAs of this writing,Roku(NASDAQ:ROKU) is the third-largest holding in Cathie Wood's ARK Innovation ETF portfolio of stocks. The popular asset manager's fund holds over 3.2 million shares of the enabler of streaming content. That's a total value of almost $1.2 billion and makes up 5.4% of the portfolio.\nRoku's stock price is down 25% in the last month as the market has turned sour on so-called stay-at-home stocks that benefited during the pandemic. However, that could be a buying opportunity for long-term investors.\nLet's look at three reasons to buy this Cathie Wood favorite and one reason for caution.\nIMAGE SOURCE: GETTY IMAGES.\n1. More content is shifting to streaming from linear TV\nMore and more consumers are switching from linear TV connections to streaming content. Still, there is a long way to go before the transition runs its course. One estimate suggests in 18- to 45-year-olds, only 39% of their TV watching is streaming, highlighting that there is plenty of room for the shift to continue.\n2. Roku has a great operating system that customers love\nRoku enables this transition by selling hardware (streaming players) that connects TVs to its operating system. Additionally, it works with manufacturers to have its operating system built into TVs. Indeed, Roku is the leading operating system in TVs in the U.S. and Canada, and it's making good progress in Brazil and Mexico. Roku's system is proven to be reliable and reduces costs for manufacturers. Those features have helped Roku attract 55.1 million active accounts, up 28% from last year; a figure that is likely to grow as Roku continues its international expansion.\n3. Roku is expanding internationally\nThe next market Roku will enter is Germany later this year. If Roku can match the success it's achieving in existing markets -- and there is no reason to think it won't -- it can continue to attract new customers. Indeed, the plan from management on international expansion is to keep doing more of the same, since it's working so well. During the second-quarter earnings call earlier this month, founder and CEO Anthony Wood commented:\n\n In terms of growing active accounts globally, the strategy we're using is the same that worked for us well in the U.S., which is to focus on building active accounts, well, in terms of our business model internationally, it's to focus on building active accounts, engaging those users and then monetizing those users. And the way we are building active accounts is through selling our streaming players and licensing our operating system to TV manufacturers and coming to market with Roku TVs. Both of those are working well for us.\n\nA concern? Roku's valuation is not cheap\nThe one reason to be hesitant about Roku stock right now is that it isn't cheap, despite falling in value by 25% in the last month. It's trading at a forward price-to-sales ratio of 16.73, down from nearly 25 earlier in the year. To be sure, Roku has excellent long-run prospects. However, that might already be priced into the stock at this price. Furthermore, the company has challenges in the near term, such as the negative effects of economic reopenings and supply chain issues, which are causing shortages in materials and harming profit margins.\nAll things considered, it may be prudent for investors to wait for an additional pullback in the stock price before accumulating shares in Roku. Or you could wait for supply chain issues and financial impacts from economic reopenings to play out before buying Roku stock.","news_type":1,"symbols_score_info":{"ARKK":0.9,"ROKU":0.9}},"isVote":1,"tweetType":1,"viewCount":1670,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801280086,"gmtCreate":1627518537545,"gmtModify":1633764244001,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087482257900820","authorIdStr":"4087482257900820"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/801280086","repostId":"1127264445","repostType":4,"repost":{"id":"1127264445","kind":"news","pubTimestamp":1627514621,"share":"https://www.laohu8.com/m/news/1127264445?lang=zh_CN&edition=full","pubTime":"2021-07-29 07:23","market":"us","language":"en","title":"S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes<blockquote>标普500收于当日低点；鲍威尔称美联储距离加息还有很长的路要走</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127264445","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after th","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> said the central bank was still a ways away from considering raising interest rates.</p><p><blockquote>路透纽约3月19日-标普500周三收盘变化不大，但脱离盘中低点，此前美联储表示美国经济复苏仍在正轨上，主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>表示央行距离考虑加息还有一段路要走。</blockquote></p><p> Keeping the market in check, shares of tech giant <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc fell 1.2% after it forecast slowing revenue growth.</p><p><blockquote>控制市场，科技巨头的股票<a href=\"https://laohu8.com/S/AAPL\">苹果</a>Inc预测收入增长放缓，股价下跌1.2%。</blockquote></p><p> In a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks.</p><p><blockquote>在美联储发布新政策声明后的新闻发布会上，鲍威尔还表示，在退出美联储提供的经济支持之前，美国就业市场仍有“一些地方需要覆盖”。2020年春季，以应对冠状病毒大流行的经济冲击。</blockquote></p><p> “It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz &amp; Associates Inc, an investment advisory firm based in Toledo, Ohio.</p><p><blockquote>总部位于俄亥俄州托莱多的投资咨询公司Alan B.Lancz&amp;Associates Inc总裁艾伦·兰茨(Alan Lancz)表示：“看起来对市场来说最积极的事情可能是他们远未加息。”</blockquote></p><p> Right after the Fed statement, the S&amp;P 500 index reversed slight declines though it still ended a hair lower on the day.</p><p><blockquote>美联储声明发布后，标普500指数扭转了小幅跌势，但当天收盘仍小幅下跌。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> have been worried about how rising inflation and a spike in COVID-19 cases might impact the central bank’s plan to potentially start withdrawing its stimulus.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>一直担心通胀上升和COVID-19病例激增可能会影响央行可能开始撤回刺激措施的计划。</blockquote></p><p> The central bank also said that higher inflation remained the result of “transitory factors.” The Fed kept its overnight benchmark interest rate near zero and left unchanged its bond-buying program.</p><p><blockquote>央行还表示，通胀上升仍然是“暂时性因素”的结果。美联储将隔夜基准利率维持在零附近，并维持债券购买计划不变。</blockquote></p><p> The <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> ended higher and shares of Google parent <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc hit an all-time high as a surge in advertising spending helped it post record quarterly results. The stock ended up 3.2%.</p><p><blockquote>The<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>谷歌母公司股价收高<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>由于广告支出激增帮助其公布了创纪录的季度业绩，Inc创下历史新高。该股收盘上涨3.2%。</blockquote></p><p> The Dow Jones Industrial Average fell 127.59 points, or 0.36%, to 34,930.93, the S&amp;P 500 lost 0.82 point, or 0.02%, to 4,400.64 and the Nasdaq Composite added 102.01 points, or 0.7%, to 14,762.58.</p><p><blockquote>道琼斯工业平均指数下跌127.59点，跌幅0.36%，至34,930.93点；标普500下跌0.82点，跌幅0.02%，至4,400.64点；纳斯达克综合指数上涨102.01点，跌幅0.7%，至14,762.58点。</blockquote></p><p> The Fed’s statement came at the conclusion of its latest two-day policy meeting.</p><p><blockquote>美联储的声明是在最近一次为期两天的政策会议结束时发表的。</blockquote></p><p> “They had a chance to signal they were going to become more hawkish and they chose not to take it. The most important thing is they are predictable and they are remaining predictable,” said Ellen Hazen, portfolio manager at F.L. Putnam Investment Management in <a href=\"https://laohu8.com/S/WEBK\">Wellesley</a>, Massachusetts.</p><p><blockquote>F.L.投资组合经理Ellen Hazen表示：“他们有机会发出信号，表明他们将变得更加鹰派，但他们选择不接受。最重要的是，他们是可预测的，而且仍然是可预测的。”普特南投资管理公司<a href=\"https://laohu8.com/S/WEBK\">韦尔斯利</a>，马萨诸塞州。</blockquote></p><p> In other earnings news, <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp ended down 0.1% even as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.</p><p><blockquote>在其他财报消息中，<a href=\"https://laohu8.com/S/MSFT\">微软</a>尽管云服务的繁荣帮助其收入和盈利超出了华尔街的预期，但该公司收盘下跌0.1%。</blockquote></p><p> Volume on U.S. exchanges was 9.86 billion shares, compared with a similar average for the full session over the last 20 trading days.</p><p><blockquote>美国交易所的成交量为98.6亿股，而过去20个交易日的全交易日平均成交量相似。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 1.85-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.85比1；在纳斯达克，2.61比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 44 new highs and 67 new lows.</p><p><blockquote>标普500创下42个52周新高，无新低；纳斯达克综合指数录得44个新高和67个新低。</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>S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes<blockquote>标普500收于当日低点；鲍威尔称美联储距离加息还有很长的路要走</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes<blockquote>标普500收于当日低点；鲍威尔称美联储距离加息还有很长的路要走</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-29 07:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - The S&amp;P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> said the central bank was still a ways away from considering raising interest rates.</p><p><blockquote>路透纽约3月19日-标普500周三收盘变化不大，但脱离盘中低点，此前美联储表示美国经济复苏仍在正轨上，主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>表示央行距离考虑加息还有一段路要走。</blockquote></p><p> Keeping the market in check, shares of tech giant <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc fell 1.2% after it forecast slowing revenue growth.</p><p><blockquote>控制市场，科技巨头的股票<a href=\"https://laohu8.com/S/AAPL\">苹果</a>Inc预测收入增长放缓，股价下跌1.2%。</blockquote></p><p> In a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks.</p><p><blockquote>在美联储发布新政策声明后的新闻发布会上，鲍威尔还表示，在退出美联储提供的经济支持之前，美国就业市场仍有“一些地方需要覆盖”。2020年春季，以应对冠状病毒大流行的经济冲击。</blockquote></p><p> “It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz &amp; Associates Inc, an investment advisory firm based in Toledo, Ohio.</p><p><blockquote>总部位于俄亥俄州托莱多的投资咨询公司Alan B.Lancz&amp;Associates Inc总裁艾伦·兰茨(Alan Lancz)表示：“看起来对市场来说最积极的事情可能是他们远未加息。”</blockquote></p><p> Right after the Fed statement, the S&amp;P 500 index reversed slight declines though it still ended a hair lower on the day.</p><p><blockquote>美联储声明发布后，标普500指数扭转了小幅跌势，但当天收盘仍小幅下跌。</blockquote></p><p> <a href=\"https://laohu8.com/S/ISBC\">Investors</a> have been worried about how rising inflation and a spike in COVID-19 cases might impact the central bank’s plan to potentially start withdrawing its stimulus.</p><p><blockquote><a href=\"https://laohu8.com/S/ISBC\">投资者</a>一直担心通胀上升和COVID-19病例激增可能会影响央行可能开始撤回刺激措施的计划。</blockquote></p><p> The central bank also said that higher inflation remained the result of “transitory factors.” The Fed kept its overnight benchmark interest rate near zero and left unchanged its bond-buying program.</p><p><blockquote>央行还表示，通胀上升仍然是“暂时性因素”的结果。美联储将隔夜基准利率维持在零附近，并维持债券购买计划不变。</blockquote></p><p> The <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> ended higher and shares of Google parent <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc hit an all-time high as a surge in advertising spending helped it post record quarterly results. The stock ended up 3.2%.</p><p><blockquote>The<a href=\"https://laohu8.com/S/NDAQ\">纳斯达克</a>谷歌母公司股价收高<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>由于广告支出激增帮助其公布了创纪录的季度业绩，Inc创下历史新高。该股收盘上涨3.2%。</blockquote></p><p> The Dow Jones Industrial Average fell 127.59 points, or 0.36%, to 34,930.93, the S&amp;P 500 lost 0.82 point, or 0.02%, to 4,400.64 and the Nasdaq Composite added 102.01 points, or 0.7%, to 14,762.58.</p><p><blockquote>道琼斯工业平均指数下跌127.59点，跌幅0.36%，至34,930.93点；标普500下跌0.82点，跌幅0.02%，至4,400.64点；纳斯达克综合指数上涨102.01点，跌幅0.7%，至14,762.58点。</blockquote></p><p> The Fed’s statement came at the conclusion of its latest two-day policy meeting.</p><p><blockquote>美联储的声明是在最近一次为期两天的政策会议结束时发表的。</blockquote></p><p> “They had a chance to signal they were going to become more hawkish and they chose not to take it. The most important thing is they are predictable and they are remaining predictable,” said Ellen Hazen, portfolio manager at F.L. Putnam Investment Management in <a href=\"https://laohu8.com/S/WEBK\">Wellesley</a>, Massachusetts.</p><p><blockquote>F.L.投资组合经理Ellen Hazen表示：“他们有机会发出信号，表明他们将变得更加鹰派，但他们选择不接受。最重要的是，他们是可预测的，而且仍然是可预测的。”普特南投资管理公司<a href=\"https://laohu8.com/S/WEBK\">韦尔斯利</a>，马萨诸塞州。</blockquote></p><p> In other earnings news, <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp ended down 0.1% even as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.</p><p><blockquote>在其他财报消息中，<a href=\"https://laohu8.com/S/MSFT\">微软</a>尽管云服务的繁荣帮助其收入和盈利超出了华尔街的预期，但该公司收盘下跌0.1%。</blockquote></p><p> Volume on U.S. exchanges was 9.86 billion shares, compared with a similar average for the full session over the last 20 trading days.</p><p><blockquote>美国交易所的成交量为98.6亿股，而过去20个交易日的全交易日平均成交量相似。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 1.85-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.85比1；在纳斯达克，2.61比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 44 new highs and 67 new lows.</p><p><blockquote>标普500创下42个52周新高，无新低；纳斯达克综合指数录得44个新高和67个新低。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H\">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":{"161125":"标普500","SPXU":"三倍做空标普500ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","IVV":"标普500ETF-iShares","OEX":"标普100","SPY":"标普500ETF",".SPX":"S&P 500 Index","UPRO":"三倍做多标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".IXIC":"NASDAQ Composite","OEF":"标普100指数ETF-iShares","SH":"做空标普500-Proshares",".DJI":"道琼斯"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127264445","content_text":"NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome Powell said the central bank was still a ways away from considering raising interest rates.\nKeeping the market in check, shares of tech giant Apple Inc fell 1.2% after it forecast slowing revenue growth.\nIn a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks.\n“It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz & Associates Inc, an investment advisory firm based in Toledo, Ohio.\nRight after the Fed statement, the S&P 500 index reversed slight declines though it still ended a hair lower on the day.\nInvestors have been worried about how rising inflation and a spike in COVID-19 cases might impact the central bank’s plan to potentially start withdrawing its stimulus.\nThe central bank also said that higher inflation remained the result of “transitory factors.” The Fed kept its overnight benchmark interest rate near zero and left unchanged its bond-buying program.\nThe Nasdaq ended higher and shares of Google parent Alphabet Inc hit an all-time high as a surge in advertising spending helped it post record quarterly results. The stock ended up 3.2%.\nThe Dow Jones Industrial Average fell 127.59 points, or 0.36%, to 34,930.93, the S&P 500 lost 0.82 point, or 0.02%, to 4,400.64 and the Nasdaq Composite added 102.01 points, or 0.7%, to 14,762.58.\nThe Fed’s statement came at the conclusion of its latest two-day policy meeting.\n“They had a chance to signal they were going to become more hawkish and they chose not to take it. The most important thing is they are predictable and they are remaining predictable,” said Ellen Hazen, portfolio manager at F.L. Putnam Investment Management in Wellesley, Massachusetts.\nIn other earnings news, Microsoft Corp ended down 0.1% even as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.\nVolume on U.S. exchanges was 9.86 billion shares, compared with a similar average for the full session over the last 20 trading days.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.85-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored advancers.\nThe S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 44 new highs and 67 new lows.","news_type":1,"symbols_score_info":{"161125":0.9,"ESmain":0.9,".IXIC":0.9,"OEF":0.9,"OEX":0.9,"SH":0.9,"SDS":0.9,"SPY":0.9,"SPXU":0.9,".DJI":0.9,".SPX":0.9,"UPRO":0.9,"SSO":0.9,"IVV":0.9}},"isVote":1,"tweetType":1,"viewCount":325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177673309,"gmtCreate":1627217038201,"gmtModify":1633767107557,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087482257900820","authorIdStr":"4087482257900820"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177673309","repostId":"2153878189","repostType":4,"isVote":1,"tweetType":1,"viewCount":390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836468849,"gmtCreate":1629515381981,"gmtModify":1633684308004,"author":{"id":"4087482257900820","authorId":"4087482257900820","name":"宙斯的爱子","avatar":"https://static.tigerbbs.com/fc0e6d83a9159fc929382e8ece1c04c9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087482257900820","authorIdStr":"4087482257900820"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836468849","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohu8.com/m/news/1151608193?lang=zh_CN&edition=full","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有股票数年而不是租用数天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-23 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares半导体ETF较近期高点下跌超过6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中，芯片制造商受到的打击比大多数制造商都要严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、纳斯达克综合指数和道琼斯工业平均指数的跌幅为2%或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表，但如果您喜欢持有股票数年而不是租用数天，那么该集团是值得买入的。主要原因：“这次不一样。”</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险，那你就是个傻瓜。我去看看。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>Impax Asset Management的投资组合经理David Winborne表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，然后是服务器，然后是电话。”但他表示，现在整个经济对芯片的需求已经扩大，因此长期增长情况更容易预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益“数字化”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、云服务、电动汽车、5G手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>Motley Fool芯片行业分析师John Rotonti表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。长期需求是存在的。”</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro预测，到2030年，芯片行业的收入将从2020年的4650亿美元翻一番，达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着你所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为，加上成本削减，意味着现在的盈利能力远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在20%左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师Peter Karazeris有理由对该集团持谨慎态度（见下文），但他特别指出了两家公司，它们的业绩可能会因为在新管理层的领导下而得到提振：高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris还特别提到了Nvidia，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计，当像高通和英伟达这样的公司想要设计芯片时，他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">新思科技</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool的Rotonti解释说，他们基于软件的设计工具帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说，它在供应做到这一点的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供应过剩</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多产品，这样就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne表示，希望到2025年生产70%的芯片，高于目前的5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来，像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计，这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair的Scolaro指出，使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流，但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>令人不安的信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器（DRAM）芯片定价的预测疲软。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。这意味着芯片制造业必须迎头赶上。”</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如，福特刚刚宣布，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测，由于高储蓄率、就业和收入反弹以及被压抑的大件商品需求等因素，良好的经济增长是可持续的。如果他是对的，持续的经济实力将支持对所有使用芯片的产品的需求——包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CDNS":"铿腾电子","SNPS":"新思科技","AAPL":"苹果","GOOGL":"谷歌A","SSNLF":"三星电子","ON":"安森美半导体","SOXX":"iShares费城交易所半导体ETF","ASML":"阿斯麦","QCOM":"高通","GOOG":"谷歌","NVDA":"英伟达","TSM":"台积电","AMZN":"亚马逊"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. 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