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2021-08-16

Good info

AMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪个是最好的芯片股？</blockquote>

2021-08-13

Go up…

2021-07-18

Buy now?

2021-07-06

Like

US IPO This Week: Just 2 IPOs scheduled for the shortened holiday week<blockquote>本周美国IPO：缩短的假期周仅安排2起IPO</blockquote>

2021-07-06

Closed

Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>

2021-07-03

Continue monitoring

Can Alibaba Turn Around Its Woes in the Second Half of 2021?<blockquote>阿里巴巴-SW能否在2021年下半年扭转颓势？</blockquote>

2021-07-02

Good to hear that

U.S. quarterly auto sales jump on strong SUV demand, shift to EVs<blockquote>SUV需求强劲，转向电动汽车，美国季度汽车销量猛增</blockquote>

2021-07-02

Latest cool new

MKS Instruments to buy Atotech for $5.1 billion to expand chipmaking offerings<blockquote>MKS Instruments将以51亿美元收购安美特以扩大芯片制造产品</blockquote>

2021-06-30

Interesting example

Coinbase CEO Gives Apple's Example As He Calls For Building The 'Crypto App Store'<blockquote>Coinbase首席执行官在评级建立“加密应用商店”时以苹果为例</blockquote>

2021-06-30

Good read

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However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.</p><p><blockquote>英特尔（INTC）曾经是微芯片行业的巨人罗德斯岛，是摩尔定律力量的纪念碑。然而，该公司在10纳米工艺上遇到了麻烦，最近宣布其7纳米工艺将推迟到2023年。</blockquote></p><p> This left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.</p><p><blockquote>这为Advanced Micro Devices Inc.(AMD)敞开了大门，该公司充分利用了这个机会。AMD已经占据了CPU市场的很大份额，并正在进军曾经几乎难以渗透的服务器市场。</blockquote></p><p> AMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.</p><p><blockquote>AMD目前已连续七个季度实现两位数的收入增长，而且该公司似乎正在获得动力：管理层目前预计全年收入增长60%，高于上一季度提供的50%的预测。</blockquote></p><p> However, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.</p><p><blockquote>然而，AMD也与英伟达公司（NVDA）竞争，后者公司的GPU技术正在窃取市场份额。NVDA还凭借其GPU成功进入了邻近市场，尤其是人工智能和汽车市场。</blockquote></p><p> <b>The Ins And Outs of Intel</b></p><p><blockquote><b>英特尔的来龙去脉</b></blockquote></p><p> An understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.</p><p><blockquote>对英特尔的了解也提供了对AMD的洞察。这是由于两家公司之间的重叠，特别是在x86芯片方面。英特尔在1978年开发了x86芯片。为了满足IBM要求英特尔不是芯片的唯一供应商，INTC向AMD提供了x86指令集架构许可。</blockquote></p><p> Consequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.</p><p><blockquote>因此，英特尔和AMD在PC和服务器市场处于双头垄断地位，因为几乎所有的计算机软件都是为x86架构编写的。结果是两者都拥有与x86生态系统相关的宽阔护城河。</blockquote></p><p> Gaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.</p><p><blockquote>特别是游戏控制台基于x86架构，因为这些平台通常提供具有多个计算核心的更强大的CPU和GPU。像PC一样，游戏机运行使用基于x86的软件的游戏。这再次扼杀了来自基于ARM的设备的潜在竞争。</blockquote></p><p> Until fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.</p><p><blockquote>直到最近，AMD在x86芯片供应商方面还远远落后于INTC。然而，AMD与台积电（NYSE：TSM）合作，使用该制造商的7纳米工艺，在工艺技术上超越了INTC。再加上AMD正在开发新的创新芯片设计，这种组合拳导致INTC失去了大量的市场份额。</blockquote></p><p> At the end of Q1, AMD held 19.30% of the x86 desktop&nbsp;market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5%&nbsp;market&nbsp;share in Q4 of 2019.</p><p><blockquote>截至第一季度末，AMD占据x86台式机市场19.30%的份额，同比增长70个基点。第二季度，AMD占据了服务器市场8%的份额，高于2019年第四季度5%的市场份额。</blockquote></p><p> Despite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU&nbsp;market.</p><p><blockquote>尽管遭遇了这些挫折，但将英特尔视为一个垂死的企业似乎还为时过早。INTC是世界上最大的半导体公司之一。该公司在服务器市场占据主导地位，并且仍然占据全球x86 CPU市场的60%。</blockquote></p><p> The company has an enormous R&amp;D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.</p><p><blockquote>该公司拥有庞大的研发预算，并正在通过收购Habana Labs、Altera、Movidius和Mobileye扩展到新市场，主要是人工智能、现场可编程门阵列芯片和汽车产品。</blockquote></p><p> Investors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.</p><p><blockquote>投资者不应该仅仅因为7优于10而被英特尔新的10纳米芯片不如7纳米的说法所左右。虽然曾经用来表示芯片设计的技术水平，但它已经被误用到了无用的地步。</blockquote></p><p> However, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.</p><p><blockquote>然而，有一些问题必须承认。英特尔在智能手机市场落后于竞争对手。随着消费者转向移动设备，随着智能手机取代个人电脑，这可能会导致持续的阻力。另一方面，应该承认，INTC的服务器处理器业务随着移动设备和云计算的激增而增长。</blockquote></p><p> Intel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.</p><p><blockquote>英特尔还面临着来自AMD在数据中心领域日益激烈的竞争，以及客户为CPU开发自己的基于ARM的芯片。</blockquote></p><p> <b>An Overview of AMD</b></p><p><blockquote><b>AMD概述</b></blockquote></p><p> In years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.</p><p><blockquote>过去几年，INTC占据了x86市场的最大份额。这部分归功于英特尔领先的制造以及AMD与不太出色的GlobalFoundries签订的晶圆供应协议。</blockquote></p><p></p><p> However, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.</p><p><blockquote>然而，由于三个因素，发生了翻天覆地的转变：在创新设计的推动下，AMD将有竞争力的产品推向市场，AMD转向台积电生产，英特尔面临一再的制造延迟。下面两张图表记录了公司取得的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/903df41d5400c9807ff487a75a7e5450\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益报告</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/331cd14b666f520a62d0746d5fadfa5b\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益报告</span></p></blockquote></p><p> Like Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.</p><p><blockquote>与英特尔一样，AMD的主要产品是CPU和GPU。AMD的芯片专为PC、游戏机、服务器和区块链应用而设计。与INTC一样，由于为x86架构设计的PC和服务器软件占主导地位，AMD的产品在很大程度上免受竞争。</blockquote></p><p> AMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.</p><p><blockquote>AMD的强劲增长很大程度上是以牺牲英特尔为代价的，因为AMD稳步蚕食了英特尔的CPU市场份额。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e7f8fbcab5da8a24d01d2b6408bd5686\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> AMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.</p><p><blockquote>AMD对CPU和GPU半定制处理器应用的关注导致了它们在微软Xbox和Sony PlayStation游戏机中的使用。</blockquote></p><p> In regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.</p><p><blockquote>在PC集成GPU方面，AMD与NVIDIA大致相当，而INTC以大约68%的市场份额占据主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/67a0fe74d986cf882623a8f39587d0d8\" tg-width=\"544\" tg-height=\"394\" referrerpolicy=\"no-referrer\"><span>Source:tom'sHARDWARE</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：汤姆五金</span></p></blockquote></p><p> However, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.</p><p><blockquote>然而，NVIDIA以80%以上的市场份额主导着独立GPU领域，AMD席卷了剩下的市场份额。NVIDIA的独立GPU可以说优于AMD的（稍后会详细介绍）；因此，投资者不应该在这里寻找增长。</blockquote></p><p> Although AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.</p><p><blockquote>尽管AMD的EPYC服务器CPU产品与竞争对手相比具有竞争力，但最初该公司依靠激进的定价来推广其第一代EPYC产品。然而，EPYC系列已经获得了更广泛的认可，随着米兰处理器的推出，该公司正在获得市场份额。由于服务器CPU比该公司的其他产品提供了更好的利润率，因此向该领域的扩张应该有助于增加收入。</blockquote></p><p> Late last year,AMD entered intoa deal&nbsp;to acquire&nbsp;Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.</p><p><blockquote>去年年底，AMD达成协议收购现场可编程门阵列(FPGA)芯片领域的领导者Xilinx(XLNX)。FPGA可用于多种应用。由于转向竞争对手的FPGA提供商需要对工程师进行软件和设计工具方面的再培训，因此客户不愿意转向竞争对手的供应商。因此，如果Xilinx交易成功，AMD将获得一条宽阔的护城河业务。交易完成后18个月内运营效率约3亿美元的管理指南。</blockquote></p><p> The Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.</p><p><blockquote>收购Xilinx应该会增强AMD的数据中心和人工智能业务。</blockquote></p><p> AMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.</p><p><blockquote>AMD同意以350亿美元的全股票交易收购赛灵思。</blockquote></p><p> <b>A Survey of NVIDIA</b></p><p><blockquote><b>英伟达调查</b></blockquote></p><p> NVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.</p><p><blockquote>NVDA对图形处理单元市场的关注使该公司在独立GPU领域占据了主导地位。该公司是计算平台（尤其是游戏机）独立GPU领域的领导者。英特尔从英伟达获得知识产权许可，将GPU集成到其PC芯片组中，这一事实证明了该公司保持的领先地位。</blockquote></p><p> The chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.</p><p><blockquote>下图记录了该公司在过去五年中能够控制的蓬勃发展的ASP，从2016年的Pascal架构开始，通过Turing发展到Ampere。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04fb1d71f9df02f6c63907fe784b2fd8\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Source:AMD Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：AMD投资者介绍</span></p></blockquote></p><p> The firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.</p><p><blockquote>该公司的芯片也存在于许多高端PC中，NVDA在新兴的人工智能和自动驾驶汽车市场尤其具有优势。</blockquote></p><p> GPUs are being teamed with CPUs to&nbsp;enhance&nbsp;computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to&nbsp;autonomous&nbsp;vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud</p><p><blockquote>GPU正与CPU结合使用，以增强计算工作负载。这一策略旨在增强人工智能系统执行计算密集型任务的能力。与自动驾驶汽车相关的人工智能是英伟达的发展优势。该公司崭露头角的另一个领域是云领域</blockquote></p><p> AI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.</p><p><blockquote>人工智能和数据中心是NVDA最有可能的增长途径。为了加强其在这两项业务中的地位，该公司去年以400亿美元从母公司软银手中收购了ARM Holdings(ARMHF)。</blockquote></p><p> ARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.</p><p><blockquote>ARM是全球最大的芯片设计许可方。它的芯片无处不在，手机、智能电视、平板电脑都能找到。使用ARM设计制造了1600亿个芯片。</blockquote></p><p></p><p> Perhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.</p><p><blockquote>也许同样重要的是，有1300万开发人员使用ARM设备。从背景来看，NVDA有200万开发人员在开发其设备系列。</blockquote></p><p> Unfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.</p><p><blockquote>对投资者来说不幸的是，据报道，中国和英国都不愿批准这笔交易。</blockquote></p><p> <b>Head-To-Head Comparisons</b></p><p><blockquote><b>头对头比较</b></blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p> The following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.</p><p><blockquote>下图提供了与每只股票估值相关的各种指标。所有标有前瞻性的数据都是分析师对下一财年的一致预期。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1bdeabcd2ea473601fbaaaa03235de77\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> Next, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.</p><p><blockquote>接下来，我用图表来提供这三家公司的PEG比率。由于分析师的输入可能会导致PEG比率存在相当大的差异，因此当我发现比率存在较大差异时，我希望读者能够访问多个来源。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/884fc2142d97afcc9e2308e50058dd45\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>作者图表</span></p></blockquote></p><p> Note that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.</p><p><blockquote>请注意，Seeking Alpha提供了三到五年的PEG，嘉信理财只是将其指标列为PEG比率，而雅虎！财务计算五年比率。这可以解释所提供数字中的一些差异。</blockquote></p><p> Perusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.</p><p><blockquote>仔细阅读第一张图表，很明显NVDA是最被高估的。还值得注意的是，当前市盈率和远期价格/现金流估计显示AMD的估值接近行业中位数。</blockquote></p><p> Count me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.</p><p><blockquote>我是一个非常重视股票PEG比率的投资者。查看第二张图表，AMD的PEG是三家公司中最好的。我还注意到，各来源的分析师计算出AMD的PEG比率均优于行业中位数。</blockquote></p><p> Do not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.</p><p><blockquote>不要误解我的发现。虽然INTC在很多方面的估值较低，但考虑到其他因素，我对AMD的整体评价较高。换句话说，这不是最便宜的估值，而是最好的估值，因为缺乏更好的方式来表达我的观点。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> <b>Analysts’ Price Targets</b></p><p><blockquote><b>分析师的价格目标</b></blockquote></p><p> NVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.</p><p><blockquote>NVIDIA股价目前交易价格为202.95美元。33位分析师的平均12个月目标价为186.49美元。在最新财报发布后对该股进行评级的17名分析师的平均目标价为210.53美元，比该股当前价格高出约3.7%。</blockquote></p><p> AMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.</p><p><blockquote>AMD股价目前交易价格为107.58美元。28位分析师的平均12个月目标价为108.56美元。在最新财报发布后对该股进行评级的11位分析师的平均目标价为117.27美元，比当前股价高出约9%。</blockquote></p><p> Intel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.</p><p><blockquote>英特尔股价目前交易价格为54.05美元。34位分析师的平均12个月目标价为59.86美元。在最新财报发布后对该股进行评级的16位分析师的平均目标价为58.97美元，较当前股价溢价9%。</blockquote></p><p> Investors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.</p><p><blockquote>投资者应该知道，自NVDA公布季度收益而INTC和AMD最近公布季度收益以来，已经过去了近三个月。</blockquote></p><p> <b>=Tie AMD/INTC</b></p><p><blockquote><b>=Tie AMD/INTC</b></blockquote></p><p> <b>Growth Rates</b></p><p><blockquote><b>增长率</b></blockquote></p><p> The next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.</p><p><blockquote>下一张图表提供了增长率数据。除非另有说明，这些指标反映了分析师的平均两年预测。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8ae1b79b3731a985fc209e626ca4886\" tg-width=\"577\" tg-height=\"337\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> While investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.</p><p><blockquote>虽然熟悉这三家公司的投资者预计INTC在增长方面的表现不如NVDA和AMD，但在某些情况下，英特尔预计将出现负增长率。</blockquote></p><p> Advanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.</p><p><blockquote>Advanced Micro Devices的预计增长在每个类别中都领先于NVIDIA，有时甚至大幅领先。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> I considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.</p><p><blockquote>我考虑提供一张图表，概述每家公司的盈利能力；然而，只要说每一个都是高利润就足够了，三者并置会导致平局。</blockquote></p><p> I often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.</p><p><blockquote>我经常提供分解股息指标的比较，但AMD不支付股息，而NVDA的收益率也很低。INTC目前的收益率约为2.6%。股息资金充足。</blockquote></p><p> <b>Debt Metrics</b></p><p><blockquote><b>债务指标</b></blockquote></p><p> NVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.</p><p><blockquote>英伟达拥有126.7亿美元现金，上季度末为59.6亿美元。如果ARM收购获得批准，该交易的结构将使400亿美元收购价格中的210亿美元将是股票。</blockquote></p><p> AMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.</p><p><blockquote>AMD重组了债务，从而降低了利息成本。截至最近一个季度末，AMD拥有约38亿美元现金和3.13亿美元长期债务。</blockquote></p><p> Intel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.</p><p><blockquote>英特尔拥有可靠的投资级信用评级。截至上季度末，该公司持有近248.6亿美元现金，长期债务为317亿美元。</blockquote></p><p></p><p> All three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.</p><p><blockquote>这三家公司都拥有强劲的财务状况。考虑到NVDA和AMD可能因潜在收购而增加债务的可能性，我对这三家公司的评级相同。</blockquote></p><p> <b>R&amp;D Budgets</b></p><p><blockquote><b>研发预算</b></blockquote></p><p> This is the first time I have&nbsp;compared&nbsp;the R&amp;D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.</p><p><blockquote>这是我第一次比较企业的研发预算进行正面对决。然而，在半导体行业，这可能至关重要。</blockquote></p><p> Last fiscal year, Intel devoted over $13.5 billion to R&amp;D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.</p><p><blockquote>上一财年，英特尔在研发上投入了超过135亿美元，NVDA花费了近28.3亿美元，AMD的研发预算略高于19亿美元。</blockquote></p><p> AMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&amp;D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.</p><p><blockquote>AMD处于明显的劣势，而且这种劣势被放大了，因为它经常在不同的领域与INTC和NVDA竞争。应该指出的是，英特尔的部分研发资金流向了其代工业务。尽管如此，它是这里明显的赢家，AMD是明显的输家。</blockquote></p><p> I should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&amp;D budgets.</p><p><blockquote>我应该补充一点，NVDA正在蚕食AMD在独立GPU市场的份额，我相信这种趋势将继续下去，部分原因是研发预算的差异。</blockquote></p><p> <b>=Advantage INTC</b></p><p><blockquote><b>=优势INTC</b></blockquote></p><p> <b>Bottom Line: Which Is The Best Chip Stock?</b></p><p><blockquote><b>一句话：最好的芯片股是哪只？</b></blockquote></p><p> To arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.</p><p><blockquote>要得出答案，很大程度上取决于英伟达能否完成对ARM的收购。</blockquote></p><p> Because ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.</p><p><blockquote>由于ARM处理器比x86芯片更强大、更具成本效益，NVDA可以在数据中心领域获得市场份额。由于英特尔大约三分之一的收入来自数据中心，这可能对INTC来说是一个阻力，对NVDA来说是一个积极的因素。然而，这笔交易很有可能无法完成。</blockquote></p><p> The degree of success Intel finds as its&nbsp;planned&nbsp;foundries come online is another factor that should be weighed.</p><p><blockquote>英特尔计划的代工厂上线后取得的成功程度是另一个应该权衡的因素。</blockquote></p><p> A development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.</p><p><blockquote>一个需要权衡的发展是，就其产品质量而言，AMD现在已经在PC市场上与INTC持平。此外，AMD正在服务器市场获得市场份额，我预计这一趋势将持续下去。</blockquote></p><p> On the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.</p><p><blockquote>另一方面，AMD正在将独立GPU市场的份额输给NVDA。NVDA在该领域拥有技术领先地位，这种领先地位可能会持续下去。</blockquote></p><p> While AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.</p><p><blockquote>虽然AMD和NVDA被视为增长机器，但人们不应忽视英特尔的物联网业务在上个季度增长了47%。Mobileye也出现了大幅增长，收入增长了124%。尽管这些业务的总收入只有13亿美元，与英特尔185亿美元的总收入相比只是一小部分，但它们仍然代表着高增长领域。</blockquote></p><p> However, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.</p><p><blockquote>但是，请注意标题指的是“芯片库存”。因此，技术优势只是难题的一部分。任何投资决策都必须考虑当前估值和预期增长率。</blockquote></p><p> With that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.</p><p><blockquote>考虑到这一点，由于目前的估值和增长预期，我必须将英伟达评级为持有。请注意，我的评级基于该股票的当前估值。我承认该公司堪称典范的领导力，并相信该股票的长期前景非常好。</blockquote></p><p> I also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.</p><p><blockquote>我也将INTC评级为持有。我之前将该公司评级为买入。虽然我仍然相信该公司将很好地为长期投资者服务，但我现在相信它的复苏将在很长一段时间内展开，并且会有更好的机会。</blockquote></p><p> I rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.</p><p><blockquote>我将AMD评级为买入。这是基于本文概述的当前估值和增长率。我要补充的是，这些指标得到了我的看法的支持，即随着英特尔努力复苏，AMD可能会蚕食市场份额。</blockquote></p><p> For additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA&nbsp;contributor&nbsp;Keyanoush Razavidinani.</p><p><blockquote>为了更多地了解投资AMD和INTC的技术方面，我推荐SA撰稿人Keyanoush Razavidinani的一篇优秀文章。</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>AMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪个是最好的芯片股？</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\">\nAMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪个是最好的芯片股？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-15 10:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>AMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.</li>  <li>AMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.</li>  <li>Even so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&amp;D, marketing, and pricing.</li>  <li>Nvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a8f0aee0f3d10db76a1ee18fe604b40\" tg-width=\"1536\" tg-height=\"864\" referrerpolicy=\"no-referrer\"><span>Andy/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD最近的CPU和GPU产品与英特尔和英伟达的产品相比更具竞争力。</li><li>事实证明，AMD的EPYC服务器芯片可以与某些英特尔芯片相媲美，甚至优于某些英特尔芯片，并使AMD获得了服务器CPU市场份额。</li><li>即便如此，英特尔仍是处理器市场的领导者，在研发、营销和定价方面相对于AMD拥有长期优势。</li><li>英伟达在GPU技术上领先于AMD，并正在利用其GPU进入人工智能等邻近的终端市场。</li></ul><p class=\"t-img-caption\"><span>安迪/iStock来自盖蒂图片社</span></p></blockquote></p><p> Intel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.</p><p><blockquote>英特尔（INTC）曾经是微芯片行业的巨人罗德斯岛，是摩尔定律力量的纪念碑。然而，该公司在10纳米工艺上遇到了麻烦，最近宣布其7纳米工艺将推迟到2023年。</blockquote></p><p> This left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.</p><p><blockquote>这为Advanced Micro Devices Inc.(AMD)敞开了大门，该公司充分利用了这个机会。AMD已经占据了CPU市场的很大份额，并正在进军曾经几乎难以渗透的服务器市场。</blockquote></p><p> AMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.</p><p><blockquote>AMD目前已连续七个季度实现两位数的收入增长，而且该公司似乎正在获得动力：管理层目前预计全年收入增长60%，高于上一季度提供的50%的预测。</blockquote></p><p> However, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.</p><p><blockquote>然而，AMD也与英伟达公司（NVDA）竞争，后者公司的GPU技术正在窃取市场份额。NVDA还凭借其GPU成功进入了邻近市场，尤其是人工智能和汽车市场。</blockquote></p><p> <b>The Ins And Outs of Intel</b></p><p><blockquote><b>英特尔的来龙去脉</b></blockquote></p><p> An understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.</p><p><blockquote>对英特尔的了解也提供了对AMD的洞察。这是由于两家公司之间的重叠，特别是在x86芯片方面。英特尔在1978年开发了x86芯片。为了满足IBM要求英特尔不是芯片的唯一供应商，INTC向AMD提供了x86指令集架构许可。</blockquote></p><p> Consequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.</p><p><blockquote>因此，英特尔和AMD在PC和服务器市场处于双头垄断地位，因为几乎所有的计算机软件都是为x86架构编写的。结果是两者都拥有与x86生态系统相关的宽阔护城河。</blockquote></p><p> Gaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.</p><p><blockquote>特别是游戏控制台基于x86架构，因为这些平台通常提供具有多个计算核心的更强大的CPU和GPU。像PC一样，游戏机运行使用基于x86的软件的游戏。这再次扼杀了来自基于ARM的设备的潜在竞争。</blockquote></p><p> Until fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.</p><p><blockquote>直到最近，AMD在x86芯片供应商方面还远远落后于INTC。然而，AMD与台积电（NYSE：TSM）合作，使用该制造商的7纳米工艺，在工艺技术上超越了INTC。再加上AMD正在开发新的创新芯片设计，这种组合拳导致INTC失去了大量的市场份额。</blockquote></p><p> At the end of Q1, AMD held 19.30% of the x86 desktop&nbsp;market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5%&nbsp;market&nbsp;share in Q4 of 2019.</p><p><blockquote>截至第一季度末，AMD占据x86台式机市场19.30%的份额，同比增长70个基点。第二季度，AMD占据了服务器市场8%的份额，高于2019年第四季度5%的市场份额。</blockquote></p><p> Despite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU&nbsp;market.</p><p><blockquote>尽管遭遇了这些挫折，但将英特尔视为一个垂死的企业似乎还为时过早。INTC是世界上最大的半导体公司之一。该公司在服务器市场占据主导地位，并且仍然占据全球x86 CPU市场的60%。</blockquote></p><p> The company has an enormous R&amp;D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.</p><p><blockquote>该公司拥有庞大的研发预算，并正在通过收购Habana Labs、Altera、Movidius和Mobileye扩展到新市场，主要是人工智能、现场可编程门阵列芯片和汽车产品。</blockquote></p><p> Investors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.</p><p><blockquote>投资者不应该仅仅因为7优于10而被英特尔新的10纳米芯片不如7纳米的说法所左右。虽然曾经用来表示芯片设计的技术水平，但它已经被误用到了无用的地步。</blockquote></p><p> However, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.</p><p><blockquote>然而，有一些问题必须承认。英特尔在智能手机市场落后于竞争对手。随着消费者转向移动设备，随着智能手机取代个人电脑，这可能会导致持续的阻力。另一方面，应该承认，INTC的服务器处理器业务随着移动设备和云计算的激增而增长。</blockquote></p><p> Intel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.</p><p><blockquote>英特尔还面临着来自AMD在数据中心领域日益激烈的竞争，以及客户为CPU开发自己的基于ARM的芯片。</blockquote></p><p> <b>An Overview of AMD</b></p><p><blockquote><b>AMD概述</b></blockquote></p><p> In years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.</p><p><blockquote>过去几年，INTC占据了x86市场的最大份额。这部分归功于英特尔领先的制造以及AMD与不太出色的GlobalFoundries签订的晶圆供应协议。</blockquote></p><p></p><p> However, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.</p><p><blockquote>然而，由于三个因素，发生了翻天覆地的转变：在创新设计的推动下，AMD将有竞争力的产品推向市场，AMD转向台积电生产，英特尔面临一再的制造延迟。下面两张图表记录了公司取得的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/903df41d5400c9807ff487a75a7e5450\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益报告</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/331cd14b666f520a62d0746d5fadfa5b\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益报告</span></p></blockquote></p><p> Like Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.</p><p><blockquote>与英特尔一样，AMD的主要产品是CPU和GPU。AMD的芯片专为PC、游戏机、服务器和区块链应用而设计。与INTC一样，由于为x86架构设计的PC和服务器软件占主导地位，AMD的产品在很大程度上免受竞争。</blockquote></p><p> AMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.</p><p><blockquote>AMD的强劲增长很大程度上是以牺牲英特尔为代价的，因为AMD稳步蚕食了英特尔的CPU市场份额。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e7f8fbcab5da8a24d01d2b6408bd5686\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> AMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.</p><p><blockquote>AMD对CPU和GPU半定制处理器应用的关注导致了它们在微软Xbox和Sony PlayStation游戏机中的使用。</blockquote></p><p> In regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.</p><p><blockquote>在PC集成GPU方面，AMD与NVIDIA大致相当，而INTC以大约68%的市场份额占据主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/67a0fe74d986cf882623a8f39587d0d8\" tg-width=\"544\" tg-height=\"394\" referrerpolicy=\"no-referrer\"><span>Source:tom'sHARDWARE</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：汤姆五金</span></p></blockquote></p><p> However, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.</p><p><blockquote>然而，NVIDIA以80%以上的市场份额主导着独立GPU领域，AMD席卷了剩下的市场份额。NVIDIA的独立GPU可以说优于AMD的（稍后会详细介绍）；因此，投资者不应该在这里寻找增长。</blockquote></p><p> Although AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.</p><p><blockquote>尽管AMD的EPYC服务器CPU产品与竞争对手相比具有竞争力，但最初该公司依靠激进的定价来推广其第一代EPYC产品。然而，EPYC系列已经获得了更广泛的认可，随着米兰处理器的推出，该公司正在获得市场份额。由于服务器CPU比该公司的其他产品提供了更好的利润率，因此向该领域的扩张应该有助于增加收入。</blockquote></p><p> Late last year,AMD entered intoa deal&nbsp;to acquire&nbsp;Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.</p><p><blockquote>去年年底，AMD达成协议收购现场可编程门阵列(FPGA)芯片领域的领导者Xilinx(XLNX)。FPGA可用于多种应用。由于转向竞争对手的FPGA提供商需要对工程师进行软件和设计工具方面的再培训，因此客户不愿意转向竞争对手的供应商。因此，如果Xilinx交易成功，AMD将获得一条宽阔的护城河业务。交易完成后18个月内运营效率约3亿美元的管理指南。</blockquote></p><p> The Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.</p><p><blockquote>收购Xilinx应该会增强AMD的数据中心和人工智能业务。</blockquote></p><p> AMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.</p><p><blockquote>AMD同意以350亿美元的全股票交易收购赛灵思。</blockquote></p><p> <b>A Survey of NVIDIA</b></p><p><blockquote><b>英伟达调查</b></blockquote></p><p> NVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.</p><p><blockquote>NVDA对图形处理单元市场的关注使该公司在独立GPU领域占据了主导地位。该公司是计算平台（尤其是游戏机）独立GPU领域的领导者。英特尔从英伟达获得知识产权许可，将GPU集成到其PC芯片组中，这一事实证明了该公司保持的领先地位。</blockquote></p><p> The chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.</p><p><blockquote>下图记录了该公司在过去五年中能够控制的蓬勃发展的ASP，从2016年的Pascal架构开始，通过Turing发展到Ampere。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04fb1d71f9df02f6c63907fe784b2fd8\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Source:AMD Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：AMD投资者介绍</span></p></blockquote></p><p> The firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.</p><p><blockquote>该公司的芯片也存在于许多高端PC中，NVDA在新兴的人工智能和自动驾驶汽车市场尤其具有优势。</blockquote></p><p> GPUs are being teamed with CPUs to&nbsp;enhance&nbsp;computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to&nbsp;autonomous&nbsp;vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud</p><p><blockquote>GPU正与CPU结合使用，以增强计算工作负载。这一策略旨在增强人工智能系统执行计算密集型任务的能力。与自动驾驶汽车相关的人工智能是英伟达的发展优势。该公司崭露头角的另一个领域是云领域</blockquote></p><p> AI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.</p><p><blockquote>人工智能和数据中心是NVDA最有可能的增长途径。为了加强其在这两项业务中的地位，该公司去年以400亿美元从母公司软银手中收购了ARM Holdings(ARMHF)。</blockquote></p><p> ARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.</p><p><blockquote>ARM是全球最大的芯片设计许可方。它的芯片无处不在，手机、智能电视、平板电脑都能找到。使用ARM设计制造了1600亿个芯片。</blockquote></p><p></p><p> Perhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.</p><p><blockquote>也许同样重要的是，有1300万开发人员使用ARM设备。从背景来看，NVDA有200万开发人员在开发其设备系列。</blockquote></p><p> Unfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.</p><p><blockquote>对投资者来说不幸的是，据报道，中国和英国都不愿批准这笔交易。</blockquote></p><p> <b>Head-To-Head Comparisons</b></p><p><blockquote><b>头对头比较</b></blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p> The following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.</p><p><blockquote>下图提供了与每只股票估值相关的各种指标。所有标有前瞻性的数据都是分析师对下一财年的一致预期。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1bdeabcd2ea473601fbaaaa03235de77\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> Next, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.</p><p><blockquote>接下来，我用图表来提供这三家公司的PEG比率。由于分析师的输入可能会导致PEG比率存在相当大的差异，因此当我发现比率存在较大差异时，我希望读者能够访问多个来源。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/884fc2142d97afcc9e2308e50058dd45\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>作者图表</span></p></blockquote></p><p> Note that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.</p><p><blockquote>请注意，Seeking Alpha提供了三到五年的PEG，嘉信理财只是将其指标列为PEG比率，而雅虎！财务计算五年比率。这可以解释所提供数字中的一些差异。</blockquote></p><p> Perusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.</p><p><blockquote>仔细阅读第一张图表，很明显NVDA是最被高估的。还值得注意的是，当前市盈率和远期价格/现金流估计显示AMD的估值接近行业中位数。</blockquote></p><p> Count me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.</p><p><blockquote>我是一个非常重视股票PEG比率的投资者。查看第二张图表，AMD的PEG是三家公司中最好的。我还注意到，各来源的分析师计算出AMD的PEG比率均优于行业中位数。</blockquote></p><p> Do not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.</p><p><blockquote>不要误解我的发现。虽然INTC在很多方面的估值较低，但考虑到其他因素，我对AMD的整体评价较高。换句话说，这不是最便宜的估值，而是最好的估值，因为缺乏更好的方式来表达我的观点。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> <b>Analysts’ Price Targets</b></p><p><blockquote><b>分析师的价格目标</b></blockquote></p><p> NVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.</p><p><blockquote>NVIDIA股价目前交易价格为202.95美元。33位分析师的平均12个月目标价为186.49美元。在最新财报发布后对该股进行评级的17名分析师的平均目标价为210.53美元，比该股当前价格高出约3.7%。</blockquote></p><p> AMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.</p><p><blockquote>AMD股价目前交易价格为107.58美元。28位分析师的平均12个月目标价为108.56美元。在最新财报发布后对该股进行评级的11位分析师的平均目标价为117.27美元，比当前股价高出约9%。</blockquote></p><p> Intel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.</p><p><blockquote>英特尔股价目前交易价格为54.05美元。34位分析师的平均12个月目标价为59.86美元。在最新财报发布后对该股进行评级的16位分析师的平均目标价为58.97美元，较当前股价溢价9%。</blockquote></p><p> Investors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.</p><p><blockquote>投资者应该知道，自NVDA公布季度收益而INTC和AMD最近公布季度收益以来，已经过去了近三个月。</blockquote></p><p> <b>=Tie AMD/INTC</b></p><p><blockquote><b>=Tie AMD/INTC</b></blockquote></p><p> <b>Growth Rates</b></p><p><blockquote><b>增长率</b></blockquote></p><p> The next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.</p><p><blockquote>下一张图表提供了增长率数据。除非另有说明，这些指标反映了分析师的平均两年预测。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8ae1b79b3731a985fc209e626ca4886\" tg-width=\"577\" tg-height=\"337\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> While investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.</p><p><blockquote>虽然熟悉这三家公司的投资者预计INTC在增长方面的表现不如NVDA和AMD，但在某些情况下，英特尔预计将出现负增长率。</blockquote></p><p> Advanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.</p><p><blockquote>Advanced Micro Devices的预计增长在每个类别中都领先于NVIDIA，有时甚至大幅领先。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> I considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.</p><p><blockquote>我考虑提供一张图表，概述每家公司的盈利能力；然而，只要说每一个都是高利润就足够了，三者并置会导致平局。</blockquote></p><p> I often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.</p><p><blockquote>我经常提供分解股息指标的比较，但AMD不支付股息，而NVDA的收益率也很低。INTC目前的收益率约为2.6%。股息资金充足。</blockquote></p><p> <b>Debt Metrics</b></p><p><blockquote><b>债务指标</b></blockquote></p><p> NVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.</p><p><blockquote>英伟达拥有126.7亿美元现金，上季度末为59.6亿美元。如果ARM收购获得批准，该交易的结构将使400亿美元收购价格中的210亿美元将是股票。</blockquote></p><p> AMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.</p><p><blockquote>AMD重组了债务，从而降低了利息成本。截至最近一个季度末，AMD拥有约38亿美元现金和3.13亿美元长期债务。</blockquote></p><p> Intel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.</p><p><blockquote>英特尔拥有可靠的投资级信用评级。截至上季度末，该公司持有近248.6亿美元现金，长期债务为317亿美元。</blockquote></p><p></p><p> All three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.</p><p><blockquote>这三家公司都拥有强劲的财务状况。考虑到NVDA和AMD可能因潜在收购而增加债务的可能性，我对这三家公司的评级相同。</blockquote></p><p> <b>R&amp;D Budgets</b></p><p><blockquote><b>研发预算</b></blockquote></p><p> This is the first time I have&nbsp;compared&nbsp;the R&amp;D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.</p><p><blockquote>这是我第一次比较企业的研发预算进行正面对决。然而，在半导体行业，这可能至关重要。</blockquote></p><p> Last fiscal year, Intel devoted over $13.5 billion to R&amp;D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.</p><p><blockquote>上一财年，英特尔在研发上投入了超过135亿美元，NVDA花费了近28.3亿美元，AMD的研发预算略高于19亿美元。</blockquote></p><p> AMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&amp;D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.</p><p><blockquote>AMD处于明显的劣势，而且这种劣势被放大了，因为它经常在不同的领域与INTC和NVDA竞争。应该指出的是，英特尔的部分研发资金流向了其代工业务。尽管如此，它是这里明显的赢家，AMD是明显的输家。</blockquote></p><p> I should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&amp;D budgets.</p><p><blockquote>我应该补充一点，NVDA正在蚕食AMD在独立GPU市场的份额，我相信这种趋势将继续下去，部分原因是研发预算的差异。</blockquote></p><p> <b>=Advantage INTC</b></p><p><blockquote><b>=优势INTC</b></blockquote></p><p> <b>Bottom Line: Which Is The Best Chip Stock?</b></p><p><blockquote><b>一句话：最好的芯片股是哪只？</b></blockquote></p><p> To arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.</p><p><blockquote>要得出答案，很大程度上取决于英伟达能否完成对ARM的收购。</blockquote></p><p> Because ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.</p><p><blockquote>由于ARM处理器比x86芯片更强大、更具成本效益，NVDA可以在数据中心领域获得市场份额。由于英特尔大约三分之一的收入来自数据中心，这可能对INTC来说是一个阻力，对NVDA来说是一个积极的因素。然而，这笔交易很有可能无法完成。</blockquote></p><p> The degree of success Intel finds as its&nbsp;planned&nbsp;foundries come online is another factor that should be weighed.</p><p><blockquote>英特尔计划的代工厂上线后取得的成功程度是另一个应该权衡的因素。</blockquote></p><p> A development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.</p><p><blockquote>一个需要权衡的发展是，就其产品质量而言，AMD现在已经在PC市场上与INTC持平。此外，AMD正在服务器市场获得市场份额，我预计这一趋势将持续下去。</blockquote></p><p> On the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.</p><p><blockquote>另一方面，AMD正在将独立GPU市场的份额输给NVDA。NVDA在该领域拥有技术领先地位，这种领先地位可能会持续下去。</blockquote></p><p> While AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.</p><p><blockquote>虽然AMD和NVDA被视为增长机器，但人们不应忽视英特尔的物联网业务在上个季度增长了47%。Mobileye也出现了大幅增长，收入增长了124%。尽管这些业务的总收入只有13亿美元，与英特尔185亿美元的总收入相比只是一小部分，但它们仍然代表着高增长领域。</blockquote></p><p> However, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.</p><p><blockquote>但是，请注意标题指的是“芯片库存”。因此，技术优势只是难题的一部分。任何投资决策都必须考虑当前估值和预期增长率。</blockquote></p><p> With that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.</p><p><blockquote>考虑到这一点，由于目前的估值和增长预期，我必须将英伟达评级为持有。请注意，我的评级基于该股票的当前估值。我承认该公司堪称典范的领导力，并相信该股票的长期前景非常好。</blockquote></p><p> I also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.</p><p><blockquote>我也将INTC评级为持有。我之前将该公司评级为买入。虽然我仍然相信该公司将很好地为长期投资者服务，但我现在相信它的复苏将在很长一段时间内展开，并且会有更好的机会。</blockquote></p><p> I rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.</p><p><blockquote>我将AMD评级为买入。这是基于本文概述的当前估值和增长率。我要补充的是，这些指标得到了我的看法的支持，即随着英特尔努力复苏，AMD可能会蚕食市场份额。</blockquote></p><p> For additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA&nbsp;contributor&nbsp;Keyanoush Razavidinani.</p><p><blockquote>为了更多地了解投资AMD和INTC的技术方面，我推荐SA撰稿人Keyanoush Razavidinani的一篇优秀文章。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4448637-amd-intel-nvidia-best-chip-stock\">seekingalpha</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":"https://static.tigerbbs.com/dad74e350b9b09d45929989f896aaa9d","relate_stocks":{"AMD":"美国超微公司","NVDA":"英伟达","INTC":"英特尔"},"source_url":"https://seekingalpha.com/article/4448637-amd-intel-nvidia-best-chip-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138705612","content_text":"Summary\n\nAMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.\nAMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.\nEven so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&D, marketing, and pricing.\nNvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.\n\nAndy/iStock via Getty Images\nIntel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.\nThis left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.\nAMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.\nHowever, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.\nThe Ins And Outs of Intel\nAn understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.\nConsequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.\nGaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.\nUntil fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.\nAt the end of Q1, AMD held 19.30% of the x86 desktop market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5% market share in Q4 of 2019.\nDespite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU market.\nThe company has an enormous R&D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.\nInvestors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.\nHowever, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.\nIntel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.\nAn Overview of AMD\nIn years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.\nHowever, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.\nSource:Q2 Earnings Presentation\nSource:Q2 Earnings Presentation\nLike Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.\nAMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.\nSource:Seeking Alpha\nAMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.\nIn regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.\nSource:tom'sHARDWARE\nHowever, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.\nAlthough AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.\nLate last year,AMD entered intoa deal to acquire Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.\nThe Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.\nAMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.\nA Survey of NVIDIA\nNVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.\nThe chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.\nSource:AMD Investor Presentation\nThe firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.\nGPUs are being teamed with CPUs to enhance computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to autonomous vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud\nAI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.\nARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.\nPerhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.\nUnfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.\nHead-To-Head Comparisons\nValuation Metrics\nThe following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.\nSource:Seeking Alpha Premium/ chart by author\nNext, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.\nChart by author\nNote that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.\nPerusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.\nCount me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.\nDo not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.\n=Advantage AMD\nAnalysts’ Price Targets\nNVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.\nAMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.\nIntel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.\nInvestors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.\n=Tie AMD/INTC\nGrowth Rates\nThe next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.\nSource:Seeking Alpha Premium/ Chart by author\nWhile investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.\nAdvanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.\n=Advantage AMD\nI considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.\nI often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.\nDebt Metrics\nNVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.\nAMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.\nIntel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.\nAll three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.\nR&D Budgets\nThis is the first time I have compared the R&D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.\nLast fiscal year, Intel devoted over $13.5 billion to R&D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.\nAMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.\nI should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&D budgets.\n=Advantage INTC\nBottom Line: Which Is The Best Chip Stock?\nTo arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.\nBecause ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.\nThe degree of success Intel finds as its planned foundries come online is another factor that should be weighed.\nA development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.\nOn the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.\nWhile AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.\nHowever, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.\nWith that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.\nI also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.\nI rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.\nFor additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA contributor Keyanoush Razavidinani.","news_type":1,"symbols_score_info":{"INTC":0.9,"AMD":0.9,"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894139209,"gmtCreate":1628810613501,"gmtModify":1631890545415,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088143116973830","authorIdStr":"4088143116973830"},"themes":[],"htmlText":"Go up…","listText":"Go up…","text":"Go up…","images":[{"img":"https://static.tigerbbs.com/70fed4107c1dd5122b2a54e100d77fb2","width":"1125","height":"2332"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894139209","isVote":1,"tweetType":1,"viewCount":1325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":179502054,"gmtCreate":1626554613578,"gmtModify":1631890545425,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088143116973830","authorIdStr":"4088143116973830"},"themes":[],"htmlText":"Buy now?","listText":"Buy now?","text":"Buy now?","images":[{"img":"https://static.tigerbbs.com/ab72e48e2b3bc7e201bb81f9ad1b4d3d","width":"1125","height":"2515"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179502054","isVote":1,"tweetType":1,"viewCount":1178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":154698376,"gmtCreate":1625521322195,"gmtModify":1631890545438,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088143116973830","authorIdStr":"4088143116973830"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154698376","repostId":"1166963826","repostType":4,"repost":{"id":"1166963826","kind":"news","pubTimestamp":1625486061,"share":"https://www.laohu8.com/m/news/1166963826?lang=zh_CN&edition=full","pubTime":"2021-07-05 19:54","market":"us","language":"en","title":"US IPO This Week: Just 2 IPOs scheduled for the shortened holiday week<blockquote>本周美国IPO：缩短的假期周仅安排2起IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166963826","media":"renaissancecap...","summary":"Following its busiest week in over a decade, the US IPO market is taking a breather after the holida","content":"<p>Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.</p><p><blockquote>在经历了十多年来最繁忙的一周后，美国IPO市场在假期后休息一下，在未来缩短的一周内仅安排了两起IPO。</blockquote></p><p> While the calendar is quiet at the moment, several companies are primed to launch, including luxury social club&nbsp;<b>Membership Collective Group</b>(MCG), Wahlberg-backed fitness franchise&nbsp;<b>F45 Training</b>(FXLV), database provider&nbsp;<b>Couchbase</b>(BASE), and consumer banking platform<b>BlendLabs</b>(BLND).</p><p><blockquote>虽然目前日程平静，但几家公司已准备好推出，其中包括豪华社交俱乐部<b>会员集体组</b>(MCG)，沃尔伯格支持的健身特许经营店<b>F45训练</b>(FXLV)，数据库提供商<b>沙发座</b>（基地）和消费银行平台<b>混合实验室</b>（BLND）。</blockquote></p><p> Chinese healthcare data company&nbsp;<b>LinkDoc Technology</b>(LDOC) plans to raise $200 million at a $1.5 billion market cap. This AI-driven healthcare technology company provides a data platform for patient care and clinical research, specifically within oncology. Unprofitable with strong growth, LinkDoc's platform has cumulatively cared for over 3.5 million patients and provided longitudinal care for over 2.5 million patients since 2015.</p><p><blockquote>中国医疗保健数据公司<b>LinkDoc技术</b>(LDOC)计划以15亿美元的市值筹集2亿美元。这家人工智能驱动的医疗保健技术公司为患者护理和临床研究提供了一个数据平台，特别是在肿瘤学领域。自2015年以来，LinkDoc的平台已累计护理了超过350万名患者，并为超过250万名患者提供了纵向护理。</blockquote></p><p> OTC-list&nbsp;<b>Minim</b>(MINM), which provides intelligent networking products and a WiFi as a Service platform, has not set terms but plans to begin trading in the week ahead.&nbsp;Minim has developed intelligent networking products and a WiFi as a Service platform that powers applications for businesses, service providers, and home users. The company's products can be found in retailers across the US and in over 100 Internet Service Providers broadband offerings.</p><p><blockquote>场外交易清单<b>Minim</b>（MINM）提供智能联网产品和WiFi即服务平台，尚未设定条款，但计划在未来一周开始交易。Minim开发了智能联网产品和WiFi即服务平台，为企业、服务提供商和家庭用户的应用程序提供支持。该公司的产品可以在美国各地的零售商和100多家互联网服务提供商的宽带产品中找到。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/003a0748043153c660ff267811776609\" tg-width=\"1421\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO This Week: Just 2 IPOs scheduled for the shortened holiday week<blockquote>本周美国IPO：缩短的假期周仅安排2起IPO</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\">\nUS IPO This Week: Just 2 IPOs scheduled for the shortened holiday week<blockquote>本周美国IPO：缩短的假期周仅安排2起IPO</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-07-05 19:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.</p><p><blockquote>在经历了十多年来最繁忙的一周后，美国IPO市场在假期后休息一下，在未来缩短的一周内仅安排了两起IPO。</blockquote></p><p> While the calendar is quiet at the moment, several companies are primed to launch, including luxury social club&nbsp;<b>Membership Collective Group</b>(MCG), Wahlberg-backed fitness franchise&nbsp;<b>F45 Training</b>(FXLV), database provider&nbsp;<b>Couchbase</b>(BASE), and consumer banking platform<b>BlendLabs</b>(BLND).</p><p><blockquote>虽然目前日程平静，但几家公司已准备好推出，其中包括豪华社交俱乐部<b>会员集体组</b>(MCG)，沃尔伯格支持的健身特许经营店<b>F45训练</b>(FXLV)，数据库提供商<b>沙发座</b>（基地）和消费银行平台<b>混合实验室</b>（BLND）。</blockquote></p><p> Chinese healthcare data company&nbsp;<b>LinkDoc Technology</b>(LDOC) plans to raise $200 million at a $1.5 billion market cap. This AI-driven healthcare technology company provides a data platform for patient care and clinical research, specifically within oncology. Unprofitable with strong growth, LinkDoc's platform has cumulatively cared for over 3.5 million patients and provided longitudinal care for over 2.5 million patients since 2015.</p><p><blockquote>中国医疗保健数据公司<b>LinkDoc技术</b>(LDOC)计划以15亿美元的市值筹集2亿美元。这家人工智能驱动的医疗保健技术公司为患者护理和临床研究提供了一个数据平台，特别是在肿瘤学领域。自2015年以来，LinkDoc的平台已累计护理了超过350万名患者，并为超过250万名患者提供了纵向护理。</blockquote></p><p> OTC-list&nbsp;<b>Minim</b>(MINM), which provides intelligent networking products and a WiFi as a Service platform, has not set terms but plans to begin trading in the week ahead.&nbsp;Minim has developed intelligent networking products and a WiFi as a Service platform that powers applications for businesses, service providers, and home users. The company's products can be found in retailers across the US and in over 100 Internet Service Providers broadband offerings.</p><p><blockquote>场外交易清单<b>Minim</b>（MINM）提供智能联网产品和WiFi即服务平台，尚未设定条款，但计划在未来一周开始交易。Minim开发了智能联网产品和WiFi即服务平台，为企业、服务提供商和家庭用户的应用程序提供支持。该公司的产品可以在美国各地的零售商和100多家互联网服务提供商的宽带产品中找到。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/003a0748043153c660ff267811776609\" tg-width=\"1421\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/83625/US-IPO-Week-Ahead-Just-2-IPOs-scheduled-for-the-shortened-holiday-week\">renaissancecap...</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":{},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/83625/US-IPO-Week-Ahead-Just-2-IPOs-scheduled-for-the-shortened-holiday-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166963826","content_text":"Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.\nWhile the calendar is quiet at the moment, several companies are primed to launch, including luxury social club Membership Collective Group(MCG), Wahlberg-backed fitness franchise F45 Training(FXLV), database provider Couchbase(BASE), and consumer banking platformBlendLabs(BLND).\nChinese healthcare data company LinkDoc Technology(LDOC) plans to raise $200 million at a $1.5 billion market cap. This AI-driven healthcare technology company provides a data platform for patient care and clinical research, specifically within oncology. Unprofitable with strong growth, LinkDoc's platform has cumulatively cared for over 3.5 million patients and provided longitudinal care for over 2.5 million patients since 2015.\nOTC-list Minim(MINM), which provides intelligent networking products and a WiFi as a Service platform, has not set terms but plans to begin trading in the week ahead. Minim has developed intelligent networking products and a WiFi as a Service platform that powers applications for businesses, service providers, and home users. The company's products can be found in retailers across the US and in over 100 Internet Service Providers broadband offerings.","news_type":1,"symbols_score_info":{"MINM":0.9,"LDOC":0.9}},"isVote":1,"tweetType":1,"viewCount":1272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154691150,"gmtCreate":1625521233670,"gmtModify":1631890545448,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088143116973830","authorIdStr":"4088143116973830"},"themes":[],"htmlText":"Closed&nbsp;","listText":"Closed&nbsp;","text":"Closed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154691150","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohu8.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</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 the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152887690,"gmtCreate":1625281121910,"gmtModify":1631890545461,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088143116973830","authorIdStr":"4088143116973830"},"themes":[],"htmlText":"Continue monitoring&nbsp;","listText":"Continue monitoring&nbsp;","text":"Continue monitoring","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/152887690","repostId":"1146176335","repostType":4,"repost":{"id":"1146176335","kind":"news","pubTimestamp":1625277627,"share":"https://www.laohu8.com/m/news/1146176335?lang=zh_CN&edition=full","pubTime":"2021-07-03 10:00","market":"us","language":"en","title":"Can Alibaba Turn Around Its Woes in the Second Half of 2021?<blockquote>阿里巴巴-SW能否在2021年下半年扭转颓势？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146176335","media":"The Street","summary":"Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?Alibaba  -Get Report has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.Regulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.Investors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.Howeve","content":"<p>  Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?  Alibaba&nbsp;(<b>BABA</b>) -Get Report&nbsp;has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.</p><p><blockquote>与大型股和超大型股同行相比，阿里巴巴-SW一直严重落后。这种情况会在2021年下半年改变吗？阿里巴巴-SW(<b>巴巴</b>）-今年到目前为止，Get报告一直是一只狗。该股在2020年第四季度一直交易良好，但随后一系列问题重创了该股。</blockquote></p><p> Regulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.</p><p><blockquote>监管机构扰乱了蚂蚁金服的首次公开募股，然后深入调查了阿里巴巴-SW并加大了力度。</blockquote></p><p> Investors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.</p><p><blockquote>投资者不喜欢监管问题，尤其是当我们与中国监管机构打交道时。</blockquote></p><p> However, in April, Alibaba paid a smaller-than-expectedbut still record fine, hoping to puts its regulatory issues behind it. Still, the stock hasn’t responded the way bulls were hoping.</p><p><blockquote>然而，四月份，阿里巴巴-SW支付了低于预期但仍创纪录的罚款，希望将监管问题抛在脑后。尽管如此，该股的反应并没有像多头希望的那样。</blockquote></p><p> All of this comes as the S&amp;P 500 and Nasdaq continue to grind outnew all-time highs.</p><p><blockquote>所有这一切都发生在标普500和纳斯达克继续超越历史新高之际。</blockquote></p><p> It also comes as FAANG stocks continue to trade incredibly well. Alphabet&nbsp;(<b>GOOGL</b>) -Get Reportis the top performerwith a near-40% gain in the first half of the year, while Netflix&nbsp;(<b>NFLX</b>) -Get Report&nbsp;is the worst, with a 2.3% drop.</p><p><blockquote>与此同时，FAANG股票的交易继续非常好。Alphabet(<b>GOOGL</b>)-Get Reportis是表现最好的公司，上半年涨幅接近40%，而Netflix(<b>NFLX</b>）-Get报告最差，下降了2.3%。</blockquote></p><p> Alibaba has a similar first-half performance, down 2.6%. However, it’s doing far worse from the highs, down more than 30%.</p><p><blockquote>阿里巴巴-SW上半年表现类似，下跌2.6%。然而，它的表现比高点差得多，下跌了30%以上。</blockquote></p><p> Can it turn around its woes in the second half and start rallying higher?</p><p><blockquote>它能否在下半年扭转困境并开始反弹？</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9975f383919ff8cfc34fca49a32d8e8f\" tg-width=\"700\" tg-height=\"494\"></p><p><blockquote></blockquote></p><p> Call me a hopeless optimist, but I feel that Alibaba can have a solid second-half performance.</p><p><blockquote>看涨期权我是一个无可救药的乐观主义者，但我觉得阿里巴巴-SW下半场可以有稳定的表现。</blockquote></p><p> The overall market has done too well and so has large-cap tech. The fundamentals of the business are intact and growth is strong. It’s like Amazon&nbsp;(<b>AMZN</b>) -Get Report.Eventually, it will perform better&nbsp;- it’s a question of “when” and not “if.”</p><p><blockquote>整体市场表现太好了，大型科技股也是如此。业务基本面完好，增长强劲。就像亚马逊（<b>AMZN</b>)-获取报告。最终，它会表现得更好——这是一个“何时”而不是“如果”的问题。</blockquote></p><p> Shares continue to hold the $210 to $212 area and have recently cleared downtrend resistance (blue line). That said, there’s plenty of overhead hurdles.</p><p><blockquote>股价继续守住210美元至212美元区域，最近已清除下行阻力（蓝线）。也就是说，还有很多障碍。</blockquote></p><p> Specifically, Alibaba stock is struggling with the 21-week moving average, as well as the 21-month and 10-month moving averages.</p><p><blockquote>具体来说，阿里巴巴-SW股票在21周移动平均线以及21个月和10个月移动平均线上苦苦挣扎。</blockquote></p><p> Let’s be clear: There are not a lot of bullish technical components here. If Alibaba stock could hold the 10-week moving average on this week’s dip, I’d feel better about it.</p><p><blockquote>让我们明确一点：这里没有很多看涨的技术成分。如果阿里巴巴-SW股票能够在本周下跌时守住10周移动平均线，我会感觉更好。</blockquote></p><p> However, as long as it can hold up over the $210 level and really, the 200-week moving average, I feel okay about Alibaba going into the next six months.</p><p><blockquote>然而，只要它能够保持在210美元水平和200周移动平均线以上，我对阿里巴巴-SW进入未来六个月感到满意。</blockquote></p><p> A push over $235 - thus putting it over all of the moving average hurdles mentioned above - could open up a run to $250, then $263. Above $275 and $300 is in play.</p><p><blockquote>突破235美元——从而突破上述所有移动平均线障碍——可能会上涨至250美元，然后是263美元。275美元以上和300美元正在发挥作用。</blockquote></p><p> Keep the risk in mind but this could be a solid second-half rebound play.</p><p><blockquote>请记住风险，但这可能是一场稳固的下半场反弹。</blockquote></p><p></p>","source":"lsy1610613172068","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>Can Alibaba Turn Around Its Woes in the Second Half of 2021?<blockquote>阿里巴巴-SW能否在2021年下半年扭转颓势？</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\">\nCan Alibaba Turn Around Its Woes in the Second Half of 2021?<blockquote>阿里巴巴-SW能否在2021年下半年扭转颓势？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Street</strong><span class=\"h-time small\">2021-07-03 10:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?  Alibaba&nbsp;(<b>BABA</b>) -Get Report&nbsp;has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.</p><p><blockquote>与大型股和超大型股同行相比，阿里巴巴-SW一直严重落后。这种情况会在2021年下半年改变吗？阿里巴巴-SW(<b>巴巴</b>）-今年到目前为止，Get报告一直是一只狗。该股在2020年第四季度一直交易良好，但随后一系列问题重创了该股。</blockquote></p><p> Regulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.</p><p><blockquote>监管机构扰乱了蚂蚁金服的首次公开募股，然后深入调查了阿里巴巴-SW并加大了力度。</blockquote></p><p> Investors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.</p><p><blockquote>投资者不喜欢监管问题，尤其是当我们与中国监管机构打交道时。</blockquote></p><p> However, in April, Alibaba paid a smaller-than-expectedbut still record fine, hoping to puts its regulatory issues behind it. Still, the stock hasn’t responded the way bulls were hoping.</p><p><blockquote>然而，四月份，阿里巴巴-SW支付了低于预期但仍创纪录的罚款，希望将监管问题抛在脑后。尽管如此，该股的反应并没有像多头希望的那样。</blockquote></p><p> All of this comes as the S&amp;P 500 and Nasdaq continue to grind outnew all-time highs.</p><p><blockquote>所有这一切都发生在标普500和纳斯达克继续超越历史新高之际。</blockquote></p><p> It also comes as FAANG stocks continue to trade incredibly well. Alphabet&nbsp;(<b>GOOGL</b>) -Get Reportis the top performerwith a near-40% gain in the first half of the year, while Netflix&nbsp;(<b>NFLX</b>) -Get Report&nbsp;is the worst, with a 2.3% drop.</p><p><blockquote>与此同时，FAANG股票的交易继续非常好。Alphabet(<b>GOOGL</b>)-Get Reportis是表现最好的公司，上半年涨幅接近40%，而Netflix(<b>NFLX</b>）-Get报告最差，下降了2.3%。</blockquote></p><p> Alibaba has a similar first-half performance, down 2.6%. However, it’s doing far worse from the highs, down more than 30%.</p><p><blockquote>阿里巴巴-SW上半年表现类似，下跌2.6%。然而，它的表现比高点差得多，下跌了30%以上。</blockquote></p><p> Can it turn around its woes in the second half and start rallying higher?</p><p><blockquote>它能否在下半年扭转困境并开始反弹？</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9975f383919ff8cfc34fca49a32d8e8f\" tg-width=\"700\" tg-height=\"494\"></p><p><blockquote></blockquote></p><p> Call me a hopeless optimist, but I feel that Alibaba can have a solid second-half performance.</p><p><blockquote>看涨期权我是一个无可救药的乐观主义者，但我觉得阿里巴巴-SW下半场可以有稳定的表现。</blockquote></p><p> The overall market has done too well and so has large-cap tech. The fundamentals of the business are intact and growth is strong. It’s like Amazon&nbsp;(<b>AMZN</b>) -Get Report.Eventually, it will perform better&nbsp;- it’s a question of “when” and not “if.”</p><p><blockquote>整体市场表现太好了，大型科技股也是如此。业务基本面完好，增长强劲。就像亚马逊（<b>AMZN</b>)-获取报告。最终，它会表现得更好——这是一个“何时”而不是“如果”的问题。</blockquote></p><p> Shares continue to hold the $210 to $212 area and have recently cleared downtrend resistance (blue line). That said, there’s plenty of overhead hurdles.</p><p><blockquote>股价继续守住210美元至212美元区域，最近已清除下行阻力（蓝线）。也就是说，还有很多障碍。</blockquote></p><p> Specifically, Alibaba stock is struggling with the 21-week moving average, as well as the 21-month and 10-month moving averages.</p><p><blockquote>具体来说，阿里巴巴-SW股票在21周移动平均线以及21个月和10个月移动平均线上苦苦挣扎。</blockquote></p><p> Let’s be clear: There are not a lot of bullish technical components here. If Alibaba stock could hold the 10-week moving average on this week’s dip, I’d feel better about it.</p><p><blockquote>让我们明确一点：这里没有很多看涨的技术成分。如果阿里巴巴-SW股票能够在本周下跌时守住10周移动平均线，我会感觉更好。</blockquote></p><p> However, as long as it can hold up over the $210 level and really, the 200-week moving average, I feel okay about Alibaba going into the next six months.</p><p><blockquote>然而，只要它能够保持在210美元水平和200周移动平均线以上，我对阿里巴巴-SW进入未来六个月感到满意。</blockquote></p><p> A push over $235 - thus putting it over all of the moving average hurdles mentioned above - could open up a run to $250, then $263. Above $275 and $300 is in play.</p><p><blockquote>突破235美元——从而突破上述所有移动平均线障碍——可能会上涨至250美元，然后是263美元。275美元以上和300美元正在发挥作用。</blockquote></p><p> Keep the risk in mind but this could be a solid second-half rebound play.</p><p><blockquote>请记住风险，但这可能是一场稳固的下半场反弹。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/alibaba-baba-stock-second-half-2021-trading?puc=yahoo&cm_ven=YAHOO\">The Street</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":{"09618":"京东集团-SW","BABA":"阿里巴巴"},"source_url":"https://www.thestreet.com/investing/alibaba-baba-stock-second-half-2021-trading?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146176335","content_text":"Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?\n\nAlibaba (BABA) -Get Report has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.\nRegulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.\nInvestors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.\nHowever, in April, Alibaba paid a smaller-than-expectedbut still record fine, hoping to puts its regulatory issues behind it. Still, the stock hasn’t responded the way bulls were hoping.\nAll of this comes as the S&P 500 and Nasdaq continue to grind outnew all-time highs.\nIt also comes as FAANG stocks continue to trade incredibly well. Alphabet (GOOGL) -Get Reportis the top performerwith a near-40% gain in the first half of the year, while Netflix (NFLX) -Get Report is the worst, with a 2.3% drop.\nAlibaba has a similar first-half performance, down 2.6%. However, it’s doing far worse from the highs, down more than 30%.\nCan it turn around its woes in the second half and start rallying higher?\n\nCall me a hopeless optimist, but I feel that Alibaba can have a solid second-half performance.\nThe overall market has done too well and so has large-cap tech. The fundamentals of the business are intact and growth is strong. It’s like Amazon (AMZN) -Get Report.Eventually, it will perform better - it’s a question of “when” and not “if.”\nShares continue to hold the $210 to $212 area and have recently cleared downtrend resistance (blue line). That said, there’s plenty of overhead hurdles.\nSpecifically, Alibaba stock is struggling with the 21-week moving average, as well as the 21-month and 10-month moving averages.\nLet’s be clear: There are not a lot of bullish technical components here. If Alibaba stock could hold the 10-week moving average on this week’s dip, I’d feel better about it.\nHowever, as long as it can hold up over the $210 level and really, the 200-week moving average, I feel okay about Alibaba going into the next six months.\nA push over $235 - thus putting it over all of the moving average hurdles mentioned above - could open up a run to $250, then $263. Above $275 and $300 is in play.\nKeep the risk in mind but this could be a solid second-half rebound play.","news_type":1,"symbols_score_info":{"BABA":0.9,"09618":0.9}},"isVote":1,"tweetType":1,"viewCount":3007,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158764310,"gmtCreate":1625182792130,"gmtModify":1631890545469,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088143116973830","authorIdStr":"4088143116973830"},"themes":[],"htmlText":"Good to hear that","listText":"Good to hear that","text":"Good to hear that","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158764310","repostId":"1175195232","repostType":4,"repost":{"id":"1175195232","kind":"news","pubTimestamp":1625182546,"share":"https://www.laohu8.com/m/news/1175195232?lang=zh_CN&edition=full","pubTime":"2021-07-02 07:35","market":"us","language":"en","title":"U.S. quarterly auto sales jump on strong SUV demand, shift to EVs<blockquote>SUV需求强劲，转向电动汽车，美国季度汽车销量猛增</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175195232","media":"Reuters","summary":"(Reuters) -U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for","content":"<p>(Reuters) -U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for SUVs and pointed to the trend continuing into 2022, as more people shift to private conveyance and new electric vehicles (EVs) line up for launch.</p><p><blockquote>（路透社）-美国。汽车制造商周四报告称，由于SUV需求强劲，季度销量大幅增长，并指出随着越来越多的人转向私人交通工具以及新型电动汽车(EV)排队推出，这一趋势将持续到2022年。</blockquote></p><p> Low interest rates, government stimulus and a preference for personal transportation due to the COVID-19 pandemic have bolstered demand for cars, even as prices have risen due to tight inventories following a global semiconductor shortage.</p><p><blockquote>低利率、政府刺激措施以及COVID-19大流行对个人交通的偏好提振了汽车需求，尽管全球半导体短缺后库存紧张导致价格上涨。</blockquote></p><p> Higher vehicle prices have boosted profitability for automakers, who have also increased investments in EV production.</p><p><blockquote>汽车价格上涨提高了汽车制造商的盈利能力，他们也增加了对电动汽车生产的投资。</blockquote></p><p> General Motors Co said its Chevrolet Bolt EV posted record second-quarter deliveries, with total Chevrolet sales up 31%, while sales of its Buick premium SUVs soared 86%.</p><p><blockquote>通用汽车公司表示，其雪佛兰Bolt EV第二季度交付量创历史新高，雪佛兰总销量增长31%，而别克高级SUV销量飙升86%。</blockquote></p><p> “We expect continued high demand in the second half of this year and into 2022,” Elaine Buckberg, GM’s chief economist, said.</p><p><blockquote>通用汽车首席经济学家伊莱恩·巴克伯格(Elaine Buckberg)表示：“我们预计今年下半年和2022年需求将持续强劲。”</blockquote></p><p> Last month, the No.1 U.S. automaker increased its EV budget to $35 billion through 2025.</p><p><blockquote>上个月，这家美国第一大汽车制造商将到2025年的电动汽车预算增加至350亿美元。</blockquote></p><p> Japan’s Toyota Motor Corp said alternative powered vehicles represented nearly a quarter of its sales volume through June this year, up from 13% a year earlier.</p><p><blockquote>日本丰田汽车公司表示，截至今年6月，替代动力汽车占其销量的近四分之一，高于去年同期的13%。</blockquote></p><p> Toyota’s overall U.S. sales rose about 73% to 688,813 vehicles in the second quarter.</p><p><blockquote>丰田第二季度美国整体销量增长约73%至688,813辆。</blockquote></p><p> “There need to be more models beyond Tesla ... next year, the (Ford) F-150 Lightning should help move the needle upward,” said Morningstar analyst David Whiston.</p><p><blockquote>晨星公司分析师大卫·惠斯顿(David Whiston)表示：“除了特斯拉之外，还需要有更多车型……明年，（福特）F-150 Lightning应该有助于推动这一趋势。”</blockquote></p><p> Several new EVs will launch in the second half of 2021 including Chevrolet’s Bolt EUV, Hyundai’s Ioniq 5 and Kia’s EV6 models, helping lift the overall share of EVs in the United States from just 2% of all registered vehicles currently.</p><p><blockquote>几款新的电动汽车将于2021年下半年推出，包括雪佛兰的Bolt EUV、现代的Ioniq 5和起亚的EV6车型，有助于提高电动汽车在美国的整体份额，目前仅占所有注册车辆的2%。</blockquote></p><p> Ford, which sold more than 10,000 units of its Mustang Mach-E SUV in the first five months of this year, will launch the electric version of its best-selling F-150 pickup in 2022. The company is expected to report its sales numbers on Friday.</p><p><blockquote>福特今年前5个月野马Mach-E SUV销量超过1万辆，将于2022年推出其最畅销的F-150皮卡的电动版本。该公司预计将于周五公布销售数据。</blockquote></p><p> Separately, data from analytics firm Wards Intelligence showed that the pace of U.S. light-vehicle sales slowed in June to 1.3 million units from 1.6 million in May.</p><p><blockquote>另外，分析公司Wards Intelligence的数据显示，6月份美国轻型汽车销售速度从5月份的160万辆放缓至130万辆。</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>U.S. quarterly auto sales jump on strong SUV demand, shift to EVs<blockquote>SUV需求强劲，转向电动汽车，美国季度汽车销量猛增</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\">\nU.S. quarterly auto sales jump on strong SUV demand, shift to EVs<blockquote>SUV需求强劲，转向电动汽车，美国季度汽车销量猛增</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-02 07:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) -U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for SUVs and pointed to the trend continuing into 2022, as more people shift to private conveyance and new electric vehicles (EVs) line up for launch.</p><p><blockquote>（路透社）-美国。汽车制造商周四报告称，由于SUV需求强劲，季度销量大幅增长，并指出随着越来越多的人转向私人交通工具以及新型电动汽车(EV)排队推出，这一趋势将持续到2022年。</blockquote></p><p> Low interest rates, government stimulus and a preference for personal transportation due to the COVID-19 pandemic have bolstered demand for cars, even as prices have risen due to tight inventories following a global semiconductor shortage.</p><p><blockquote>低利率、政府刺激措施以及COVID-19大流行对个人交通的偏好提振了汽车需求，尽管全球半导体短缺后库存紧张导致价格上涨。</blockquote></p><p> Higher vehicle prices have boosted profitability for automakers, who have also increased investments in EV production.</p><p><blockquote>汽车价格上涨提高了汽车制造商的盈利能力，他们也增加了对电动汽车生产的投资。</blockquote></p><p> General Motors Co said its Chevrolet Bolt EV posted record second-quarter deliveries, with total Chevrolet sales up 31%, while sales of its Buick premium SUVs soared 86%.</p><p><blockquote>通用汽车公司表示，其雪佛兰Bolt EV第二季度交付量创历史新高，雪佛兰总销量增长31%，而别克高级SUV销量飙升86%。</blockquote></p><p> “We expect continued high demand in the second half of this year and into 2022,” Elaine Buckberg, GM’s chief economist, said.</p><p><blockquote>通用汽车首席经济学家伊莱恩·巴克伯格(Elaine Buckberg)表示：“我们预计今年下半年和2022年需求将持续强劲。”</blockquote></p><p> Last month, the No.1 U.S. automaker increased its EV budget to $35 billion through 2025.</p><p><blockquote>上个月，这家美国第一大汽车制造商将到2025年的电动汽车预算增加至350亿美元。</blockquote></p><p> Japan’s Toyota Motor Corp said alternative powered vehicles represented nearly a quarter of its sales volume through June this year, up from 13% a year earlier.</p><p><blockquote>日本丰田汽车公司表示，截至今年6月，替代动力汽车占其销量的近四分之一，高于去年同期的13%。</blockquote></p><p> Toyota’s overall U.S. sales rose about 73% to 688,813 vehicles in the second quarter.</p><p><blockquote>丰田第二季度美国整体销量增长约73%至688,813辆。</blockquote></p><p> “There need to be more models beyond Tesla ... next year, the (Ford) F-150 Lightning should help move the needle upward,” said Morningstar analyst David Whiston.</p><p><blockquote>晨星公司分析师大卫·惠斯顿(David Whiston)表示：“除了特斯拉之外，还需要有更多车型……明年，（福特）F-150 Lightning应该有助于推动这一趋势。”</blockquote></p><p> Several new EVs will launch in the second half of 2021 including Chevrolet’s Bolt EUV, Hyundai’s Ioniq 5 and Kia’s EV6 models, helping lift the overall share of EVs in the United States from just 2% of all registered vehicles currently.</p><p><blockquote>几款新的电动汽车将于2021年下半年推出，包括雪佛兰的Bolt EUV、现代的Ioniq 5和起亚的EV6车型，有助于提高电动汽车在美国的整体份额，目前仅占所有注册车辆的2%。</blockquote></p><p> Ford, which sold more than 10,000 units of its Mustang Mach-E SUV in the first five months of this year, will launch the electric version of its best-selling F-150 pickup in 2022. The company is expected to report its sales numbers on Friday.</p><p><blockquote>福特今年前5个月野马Mach-E SUV销量超过1万辆，将于2022年推出其最畅销的F-150皮卡的电动版本。该公司预计将于周五公布销售数据。</blockquote></p><p> Separately, data from analytics firm Wards Intelligence showed that the pace of U.S. light-vehicle sales slowed in June to 1.3 million units from 1.6 million in May.</p><p><blockquote>另外，分析公司Wards Intelligence的数据显示，6月份美国轻型汽车销售速度从5月份的160万辆放缓至130万辆。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-autos-sales/update-4-u-s-quarterly-auto-sales-jump-on-strong-suv-demand-shift-to-evs-idUSL3N2OD3MQ\">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":{"F":"福特汽车","GE":"GE航空航天","TSLA":"特斯拉","TM":"丰田汽车"},"source_url":"https://www.reuters.com/article/usa-autos-sales/update-4-u-s-quarterly-auto-sales-jump-on-strong-suv-demand-shift-to-evs-idUSL3N2OD3MQ","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175195232","content_text":"(Reuters) -U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for SUVs and pointed to the trend continuing into 2022, as more people shift to private conveyance and new electric vehicles (EVs) line up for launch.\nLow interest rates, government stimulus and a preference for personal transportation due to the COVID-19 pandemic have bolstered demand for cars, even as prices have risen due to tight inventories following a global semiconductor shortage.\nHigher vehicle prices have boosted profitability for automakers, who have also increased investments in EV production.\nGeneral Motors Co said its Chevrolet Bolt EV posted record second-quarter deliveries, with total Chevrolet sales up 31%, while sales of its Buick premium SUVs soared 86%.\n“We expect continued high demand in the second half of this year and into 2022,” Elaine Buckberg, GM’s chief economist, said.\nLast month, the No.1 U.S. automaker increased its EV budget to $35 billion through 2025.\nJapan’s Toyota Motor Corp said alternative powered vehicles represented nearly a quarter of its sales volume through June this year, up from 13% a year earlier.\nToyota’s overall U.S. sales rose about 73% to 688,813 vehicles in the second quarter.\n“There need to be more models beyond Tesla ... next year, the (Ford) F-150 Lightning should help move the needle upward,” said Morningstar analyst David Whiston.\nSeveral new EVs will launch in the second half of 2021 including Chevrolet’s Bolt EUV, Hyundai’s Ioniq 5 and Kia’s EV6 models, helping lift the overall share of EVs in the United States from just 2% of all registered vehicles currently.\nFord, which sold more than 10,000 units of its Mustang Mach-E SUV in the first five months of this year, will launch the electric version of its best-selling F-150 pickup in 2022. The company is expected to report its sales numbers on Friday.\nSeparately, data from analytics firm Wards Intelligence showed that the pace of U.S. light-vehicle sales slowed in June to 1.3 million units from 1.6 million in May.","news_type":1,"symbols_score_info":{"GE":0.9,"F":0.9,"TSLA":0.9,"TM":0.9}},"isVote":1,"tweetType":1,"viewCount":1728,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158765208,"gmtCreate":1625182756404,"gmtModify":1631890545482,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088143116973830","authorIdStr":"4088143116973830"},"themes":[],"htmlText":"Latest cool new","listText":"Latest cool new","text":"Latest cool new","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158765208","repostId":"1193234138","repostType":4,"repost":{"id":"1193234138","kind":"news","pubTimestamp":1625182034,"share":"https://www.laohu8.com/m/news/1193234138?lang=zh_CN&edition=full","pubTime":"2021-07-02 07:27","market":"us","language":"en","title":"MKS Instruments to buy Atotech for $5.1 billion to expand chipmaking offerings<blockquote>MKS Instruments将以51亿美元收购安美特以扩大芯片制造产品</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1193234138","media":"Reuters","summary":"(Reuters) -Semiconductor equipment maker MKS Instruments Inc said on Thursday it will buy specialty ","content":"<p>(Reuters) -Semiconductor equipment maker MKS Instruments Inc said on Thursday it will buy specialty chemicals group Atotech Ltd for about $5.1 billion to expand its chip manufacturing capabilities.</p><p><blockquote>（路透社）-半导体设备制造商MKS Instruments Inc周四表示，将以约51亿美元收购特种化学品集团安美特有限公司，以扩大其芯片制造能力。</blockquote></p><p> The cash-and-stock deal includes $16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech share, or a per share value of about $26, according to Reuters calculations. MKS, which has a market capitalization of about $10 billion, will fund the acquisition through cash and debt financing.</p><p><blockquote>根据路透社的计算，这笔现金加股票交易包括每股安美特股票16.20美元现金和0.0552股MKS普通股，即每股价值约26美元。市值约100亿美元的MKS将通过现金和债务融资为此次收购提供资金。</blockquote></p><p> The offer represents a premium of about 10% to Atotech’s closing price on June 10, when Reuters reported MKS had approached Atotech with an acquisition offer.</p><p><blockquote>该报价较安美特6月10日的收盘价溢价约10%，当时路透社报道称MKS已向安美特提出收购要约。</blockquote></p><p> The deal comes at a time the chip industry has been dealing with a global shortage of semiconductors that has shuttered some auto production lines and its impact has been felt in other areas, including consumer electronics.</p><p><blockquote>这笔交易达成之际，芯片行业一直在应对全球半导体短缺问题，导致一些汽车生产线关闭，其影响也波及到了包括消费电子产品在内的其他领域。</blockquote></p><p> Atotech, backed by buyout firm Carlyle Group Inc, made its U.S. public market debut in February at $17 per share. The company makes chemicals and equipment for printed circuit boards and semiconductors that are used in smartphones, appliances and heavy machinery.</p><p><blockquote>安美特在收购公司凯雷集团(Carlyle Group Inc)的支持下，于2月份以每股17美元的价格在美国公开市场首次亮相。该公司生产用于智能手机、电器和重型机械的印刷电路板和半导体的化学品和设备。</blockquote></p><p> MKS approached Berlin-headquartered Atotech after it lost out to II-VI Inc in a bidding war for laser maker Coherent Inc in February.</p><p><blockquote>MKS在2月份对激光制造商Coherent Inc的竞购战中输给II-VI Inc后，与总部位于柏林的Atotech接洽。</blockquote></p><p> “We want to participate in all the profit pools for advanced electronics. Partnering with Atotech and having the scale is going to allow us being stronger in committing R&amp;D to our customers throughout downturns,” MKS Chief Executive John Lee said in an interview.</p><p><blockquote>MKS首席执行官John Lee在接受采访时表示：“我们希望参与先进电子产品的所有利润池。与安美特合作并拥有规模将使我们能够在经济低迷时期更有力地向客户投入研发。”</blockquote></p><p> The deal, expected to close by the fourth quarter of this year, will bring more recurring revenue streams and expand MKS’ offerings in chip manufacturing through the addition of Atotech’s plating chemicals, especially on rigid circuit boards that are widely used on smartphones, laptops and cars, according to MKS.</p><p><blockquote>该交易预计将于今年第四季度完成，将带来更多经常性收入来源，并通过添加安美特的电镀化学品扩大MKS在芯片制造领域的产品，特别是在广泛用于智能手机、笔记本电脑和汽车的刚性电路板上，据MKS称。</blockquote></p><p> Andover, Massachusetts-based MKS’ shares were down 3.7% at $171.35 on Thursday, while Atotech was down 1.45%.</p><p><blockquote>总部位于马萨诸塞州安多弗的MKS股价周四下跌3.7%，至171.35美元，而安美特股价下跌1.45%。</blockquote></p><p> Perella Weinberg Partners acted as MKS’ financial adviser, while Credit Suisse was Atotech’s financial adviser.</p><p><blockquote>Perella Weinberg Partners担任MKS的财务顾问，瑞士瑞信银行担任安美特的财务顾问。</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>MKS Instruments to buy Atotech for $5.1 billion to expand chipmaking offerings<blockquote>MKS Instruments将以51亿美元收购安美特以扩大芯片制造产品</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\">\nMKS Instruments to buy Atotech for $5.1 billion to expand chipmaking offerings<blockquote>MKS Instruments将以51亿美元收购安美特以扩大芯片制造产品</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-02 07:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) -Semiconductor equipment maker MKS Instruments Inc said on Thursday it will buy specialty chemicals group Atotech Ltd for about $5.1 billion to expand its chip manufacturing capabilities.</p><p><blockquote>（路透社）-半导体设备制造商MKS Instruments Inc周四表示，将以约51亿美元收购特种化学品集团安美特有限公司，以扩大其芯片制造能力。</blockquote></p><p> The cash-and-stock deal includes $16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech share, or a per share value of about $26, according to Reuters calculations. MKS, which has a market capitalization of about $10 billion, will fund the acquisition through cash and debt financing.</p><p><blockquote>根据路透社的计算，这笔现金加股票交易包括每股安美特股票16.20美元现金和0.0552股MKS普通股，即每股价值约26美元。市值约100亿美元的MKS将通过现金和债务融资为此次收购提供资金。</blockquote></p><p> The offer represents a premium of about 10% to Atotech’s closing price on June 10, when Reuters reported MKS had approached Atotech with an acquisition offer.</p><p><blockquote>该报价较安美特6月10日的收盘价溢价约10%，当时路透社报道称MKS已向安美特提出收购要约。</blockquote></p><p> The deal comes at a time the chip industry has been dealing with a global shortage of semiconductors that has shuttered some auto production lines and its impact has been felt in other areas, including consumer electronics.</p><p><blockquote>这笔交易达成之际，芯片行业一直在应对全球半导体短缺问题，导致一些汽车生产线关闭，其影响也波及到了包括消费电子产品在内的其他领域。</blockquote></p><p> Atotech, backed by buyout firm Carlyle Group Inc, made its U.S. public market debut in February at $17 per share. The company makes chemicals and equipment for printed circuit boards and semiconductors that are used in smartphones, appliances and heavy machinery.</p><p><blockquote>安美特在收购公司凯雷集团(Carlyle Group Inc)的支持下，于2月份以每股17美元的价格在美国公开市场首次亮相。该公司生产用于智能手机、电器和重型机械的印刷电路板和半导体的化学品和设备。</blockquote></p><p> MKS approached Berlin-headquartered Atotech after it lost out to II-VI Inc in a bidding war for laser maker Coherent Inc in February.</p><p><blockquote>MKS在2月份对激光制造商Coherent Inc的竞购战中输给II-VI Inc后，与总部位于柏林的Atotech接洽。</blockquote></p><p> “We want to participate in all the profit pools for advanced electronics. Partnering with Atotech and having the scale is going to allow us being stronger in committing R&amp;D to our customers throughout downturns,” MKS Chief Executive John Lee said in an interview.</p><p><blockquote>MKS首席执行官John Lee在接受采访时表示：“我们希望参与先进电子产品的所有利润池。与安美特合作并拥有规模将使我们能够在经济低迷时期更有力地向客户投入研发。”</blockquote></p><p> The deal, expected to close by the fourth quarter of this year, will bring more recurring revenue streams and expand MKS’ offerings in chip manufacturing through the addition of Atotech’s plating chemicals, especially on rigid circuit boards that are widely used on smartphones, laptops and cars, according to MKS.</p><p><blockquote>该交易预计将于今年第四季度完成，将带来更多经常性收入来源，并通过添加安美特的电镀化学品扩大MKS在芯片制造领域的产品，特别是在广泛用于智能手机、笔记本电脑和汽车的刚性电路板上，据MKS称。</blockquote></p><p> Andover, Massachusetts-based MKS’ shares were down 3.7% at $171.35 on Thursday, while Atotech was down 1.45%.</p><p><blockquote>总部位于马萨诸塞州安多弗的MKS股价周四下跌3.7%，至171.35美元，而安美特股价下跌1.45%。</blockquote></p><p> Perella Weinberg Partners acted as MKS’ financial adviser, while Credit Suisse was Atotech’s financial adviser.</p><p><blockquote>Perella Weinberg Partners担任MKS的财务顾问，瑞士瑞信银行担任安美特的财务顾问。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/atotech-ma-mks-instruments/update-3-mks-instruments-to-buy-atotech-for-5-1-bln-to-expand-chipmaking-offerings-idUSL3N2OD2SF\">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":{"MKSI":"MKS仪器"},"source_url":"https://www.reuters.com/article/atotech-ma-mks-instruments/update-3-mks-instruments-to-buy-atotech-for-5-1-bln-to-expand-chipmaking-offerings-idUSL3N2OD2SF","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193234138","content_text":"(Reuters) -Semiconductor equipment maker MKS Instruments Inc said on Thursday it will buy specialty chemicals group Atotech Ltd for about $5.1 billion to expand its chip manufacturing capabilities.\nThe cash-and-stock deal includes $16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech share, or a per share value of about $26, according to Reuters calculations. MKS, which has a market capitalization of about $10 billion, will fund the acquisition through cash and debt financing.\nThe offer represents a premium of about 10% to Atotech’s closing price on June 10, when Reuters reported MKS had approached Atotech with an acquisition offer.\nThe deal comes at a time the chip industry has been dealing with a global shortage of semiconductors that has shuttered some auto production lines and its impact has been felt in other areas, including consumer electronics.\nAtotech, backed by buyout firm Carlyle Group Inc, made its U.S. public market debut in February at $17 per share. The company makes chemicals and equipment for printed circuit boards and semiconductors that are used in smartphones, appliances and heavy machinery.\nMKS approached Berlin-headquartered Atotech after it lost out to II-VI Inc in a bidding war for laser maker Coherent Inc in February.\n“We want to participate in all the profit pools for advanced electronics. Partnering with Atotech and having the scale is going to allow us being stronger in committing R&D to our customers throughout downturns,” MKS Chief Executive John Lee said in an interview.\nThe deal, expected to close by the fourth quarter of this year, will bring more recurring revenue streams and expand MKS’ offerings in chip manufacturing through the addition of Atotech’s plating chemicals, especially on rigid circuit boards that are widely used on smartphones, laptops and cars, according to MKS.\nAndover, Massachusetts-based MKS’ shares were down 3.7% at $171.35 on Thursday, while Atotech was down 1.45%.\nPerella Weinberg Partners acted as MKS’ financial adviser, while Credit Suisse was Atotech’s financial adviser.","news_type":1,"symbols_score_info":{"MKSI":0.9}},"isVote":1,"tweetType":1,"viewCount":2742,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151015917,"gmtCreate":1625057319739,"gmtModify":1631890545494,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088143116973830","authorIdStr":"4088143116973830"},"themes":[],"htmlText":"Interesting example","listText":"Interesting example","text":"Interesting example","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151015917","repostId":"1142269235","repostType":4,"repost":{"id":"1142269235","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1625039703,"share":"https://www.laohu8.com/m/news/1142269235?lang=zh_CN&edition=full","pubTime":"2021-06-30 15:55","market":"us","language":"en","title":"Coinbase CEO Gives Apple's Example As He Calls For Building The 'Crypto App Store'<blockquote>Coinbase首席执行官在评级建立“加密应用商店”时以苹果为例</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142269235","media":"Benzinga","summary":"Coinbase Global Inc(NASDAQ:COIN) CEO Brian Armstrong, in a blog post on Tuesday, called for the buil","content":"<p><b>Coinbase Global Inc</b>(NASDAQ:COIN) CEO Brian Armstrong,&nbsp;in a blog post on Tuesday, called for the building of the “crypto app store” similar to the one created by&nbsp;<b>Apple Inc</b>(NASDAQ:AAPL).</p><p><blockquote><b>比特币基地全球公司</b>（纳斯达克：COIN）首席执行官Brian Armstrong在周二的一篇博客文章中呼吁建立类似于<b>苹果公司</b>（纳斯达克：AAPL）。</blockquote></p><p> <b>What Happened:</b>Armstrong noted that the cryptocurrency use cases have grown, citing the examples of non-fungible tokens or NFTs and Decentralized Applications of DApps.</p><p><blockquote><b>发生了什么：</b>阿姆斯特朗指出，加密货币用例已经增长，并列举了不可替代代币或NFT以及dApp去中心化应用的例子。</blockquote></p><p> Calling for a store similar to the App Store, he wrote, “We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on dApps, and a new trend coming out every three months.”</p><p><blockquote>他呼吁建立一个类似于App Store的商店，他写道，“我们需要在加密领域做同样的事情。现在有数百亿美元的经济活动在dApp上运行，每三个月就会出现一个新趋势。”</blockquote></p><p> “We’ll work to give our users easy access to all of this from the main Coinbase product.”</p><p><blockquote>“我们将努力让用户从Coinbase的主要产品中轻松访问所有这些。”</blockquote></p><p> <b>Why It Matters:</b>Armstrong noted that Apple did not attempt to build “every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.”</p><p><blockquote><b>为什么重要：</b>Armstrong指出，苹果并没有试图为“iPhone构建每一个应用程序，它赋予了开发者权力，并为移动用户提供了一种访问新的创新应用程序的简单方法。”</blockquote></p><p> According to Apple’s website, Apple has 1.8 million apps available on its store with 175 storefronts in over 40 languages.</p><p><blockquote>根据苹果的网站，苹果的商店有180万个应用程序，有175个店面，使用40多种语言。</blockquote></p><p> The Coinbase CEO seems to have taken a cue from Apple as he also advocated an “international-first mindset.”</p><p><blockquote>Coinbase首席执行官似乎受到了苹果的启发，他也提倡“国际优先的心态”。</blockquote></p><p> Armstrong said instead of focusing on a “narrow set of regions,” Coinbase is “going to flip this approach on its head by shipping more products in international markets on day one.”</p><p><blockquote>阿姆斯特朗表示，Coinbase不会专注于“狭窄的地区”，而是“将通过在第一天就在国际市场上运送更多产品来颠覆这种方法。”</blockquote></p><p> However, Apple’s App Store policies have also attracted the&nbsp;attention of regulators&nbsp;with Germany’s competition watchdog being the latest to bring the store under scrutiny.</p><p><blockquote>然而，苹果的应用商店政策也引起了监管机构的关注，德国竞争监管机构是最新一个对该商店进行审查的机构。</blockquote></p><p> <b>Price Action:</b>On Tuesday, Coinbase shares closed 3.33% higher at $254.90 in the regular session and fell 0.2% in the after-hours trading. On the same day, Apple shares rose 1.15% in the regular session to $136.33.</p><p><blockquote><b>价格走势：</b>周二，Coinbase股价在常规交易中收盘上涨3.33%，至254.90美元，在盘后交易中下跌0.2%。当天，苹果股价在常规交易中上涨1.15%，至136.33美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase CEO Gives Apple's Example As He Calls For Building The 'Crypto App Store'<blockquote>Coinbase首席执行官在评级建立“加密应用商店”时以苹果为例</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\">\nCoinbase CEO Gives Apple's Example As He Calls For Building The 'Crypto App Store'<blockquote>Coinbase首席执行官在评级建立“加密应用商店”时以苹果为例</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\">2021-06-30 15:55</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Coinbase Global Inc</b>(NASDAQ:COIN) CEO Brian Armstrong,&nbsp;in a blog post on Tuesday, called for the building of the “crypto app store” similar to the one created by&nbsp;<b>Apple Inc</b>(NASDAQ:AAPL).</p><p><blockquote><b>比特币基地全球公司</b>（纳斯达克：COIN）首席执行官Brian Armstrong在周二的一篇博客文章中呼吁建立类似于<b>苹果公司</b>（纳斯达克：AAPL）。</blockquote></p><p> <b>What Happened:</b>Armstrong noted that the cryptocurrency use cases have grown, citing the examples of non-fungible tokens or NFTs and Decentralized Applications of DApps.</p><p><blockquote><b>发生了什么：</b>阿姆斯特朗指出，加密货币用例已经增长，并列举了不可替代代币或NFT以及dApp去中心化应用的例子。</blockquote></p><p> Calling for a store similar to the App Store, he wrote, “We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on dApps, and a new trend coming out every three months.”</p><p><blockquote>他呼吁建立一个类似于App Store的商店，他写道，“我们需要在加密领域做同样的事情。现在有数百亿美元的经济活动在dApp上运行，每三个月就会出现一个新趋势。”</blockquote></p><p> “We’ll work to give our users easy access to all of this from the main Coinbase product.”</p><p><blockquote>“我们将努力让用户从Coinbase的主要产品中轻松访问所有这些。”</blockquote></p><p> <b>Why It Matters:</b>Armstrong noted that Apple did not attempt to build “every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.”</p><p><blockquote><b>为什么重要：</b>Armstrong指出，苹果并没有试图为“iPhone构建每一个应用程序，它赋予了开发者权力，并为移动用户提供了一种访问新的创新应用程序的简单方法。”</blockquote></p><p> According to Apple’s website, Apple has 1.8 million apps available on its store with 175 storefronts in over 40 languages.</p><p><blockquote>根据苹果的网站，苹果的商店有180万个应用程序，有175个店面，使用40多种语言。</blockquote></p><p> The Coinbase CEO seems to have taken a cue from Apple as he also advocated an “international-first mindset.”</p><p><blockquote>Coinbase首席执行官似乎受到了苹果的启发，他也提倡“国际优先的心态”。</blockquote></p><p> Armstrong said instead of focusing on a “narrow set of regions,” Coinbase is “going to flip this approach on its head by shipping more products in international markets on day one.”</p><p><blockquote>阿姆斯特朗表示，Coinbase不会专注于“狭窄的地区”，而是“将通过在第一天就在国际市场上运送更多产品来颠覆这种方法。”</blockquote></p><p> However, Apple’s App Store policies have also attracted the&nbsp;attention of regulators&nbsp;with Germany’s competition watchdog being the latest to bring the store under scrutiny.</p><p><blockquote>然而，苹果的应用商店政策也引起了监管机构的关注，德国竞争监管机构是最新一个对该商店进行审查的机构。</blockquote></p><p> <b>Price Action:</b>On Tuesday, Coinbase shares closed 3.33% higher at $254.90 in the regular session and fell 0.2% in the after-hours trading. On the same day, Apple shares rose 1.15% in the regular session to $136.33.</p><p><blockquote><b>价格走势：</b>周二，Coinbase股价在常规交易中收盘上涨3.33%，至254.90美元，在盘后交易中下跌0.2%。当天，苹果股价在常规交易中上涨1.15%，至136.33美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"比特币ETF-Grayscale","COIN":"Coinbase Global, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142269235","content_text":"Coinbase Global Inc(NASDAQ:COIN) CEO Brian Armstrong, in a blog post on Tuesday, called for the building of the “crypto app store” similar to the one created by Apple Inc(NASDAQ:AAPL).\nWhat Happened:Armstrong noted that the cryptocurrency use cases have grown, citing the examples of non-fungible tokens or NFTs and Decentralized Applications of DApps.\nCalling for a store similar to the App Store, he wrote, “We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on dApps, and a new trend coming out every three months.”\n“We’ll work to give our users easy access to all of this from the main Coinbase product.”\nWhy It Matters:Armstrong noted that Apple did not attempt to build “every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.”\nAccording to Apple’s website, Apple has 1.8 million apps available on its store with 175 storefronts in over 40 languages.\nThe Coinbase CEO seems to have taken a cue from Apple as he also advocated an “international-first mindset.”\nArmstrong said instead of focusing on a “narrow set of regions,” Coinbase is “going to flip this approach on its head by shipping more products in international markets on day one.”\nHowever, Apple’s App Store policies have also attracted the attention of regulators with Germany’s competition watchdog being the latest to bring the store under scrutiny.\nPrice Action:On Tuesday, Coinbase shares closed 3.33% higher at $254.90 in the regular session and fell 0.2% in the after-hours trading. On the same day, Apple shares rose 1.15% in the regular session to $136.33.","news_type":1,"symbols_score_info":{"BTCmain":0.9,"XBTmain":0.9,"MBTmain":0.9,"GBTC":0.9,"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":1320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151036782,"gmtCreate":1625056715046,"gmtModify":1631890545504,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088143116973830","authorIdStr":"4088143116973830"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151036782","repostId":"1150186389","repostType":4,"isVote":1,"tweetType":1,"viewCount":1405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":154691150,"gmtCreate":1625521233670,"gmtModify":1631890545448,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Closed&nbsp;","listText":"Closed&nbsp;","text":"Closed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154691150","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohu8.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</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 the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152887690,"gmtCreate":1625281121910,"gmtModify":1631890545461,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Continue monitoring&nbsp;","listText":"Continue monitoring&nbsp;","text":"Continue monitoring","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/152887690","repostId":"1146176335","repostType":4,"repost":{"id":"1146176335","kind":"news","pubTimestamp":1625277627,"share":"https://www.laohu8.com/m/news/1146176335?lang=zh_CN&edition=full","pubTime":"2021-07-03 10:00","market":"us","language":"en","title":"Can Alibaba Turn Around Its Woes in the Second Half of 2021?<blockquote>阿里巴巴-SW能否在2021年下半年扭转颓势？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146176335","media":"The Street","summary":"Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?Alibaba  -Get Report has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.Regulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.Investors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.Howeve","content":"<p>  Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?  Alibaba&nbsp;(<b>BABA</b>) -Get Report&nbsp;has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.</p><p><blockquote>与大型股和超大型股同行相比，阿里巴巴-SW一直严重落后。这种情况会在2021年下半年改变吗？阿里巴巴-SW(<b>巴巴</b>）-今年到目前为止，Get报告一直是一只狗。该股在2020年第四季度一直交易良好，但随后一系列问题重创了该股。</blockquote></p><p> Regulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.</p><p><blockquote>监管机构扰乱了蚂蚁金服的首次公开募股，然后深入调查了阿里巴巴-SW并加大了力度。</blockquote></p><p> Investors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.</p><p><blockquote>投资者不喜欢监管问题，尤其是当我们与中国监管机构打交道时。</blockquote></p><p> However, in April, Alibaba paid a smaller-than-expectedbut still record fine, hoping to puts its regulatory issues behind it. Still, the stock hasn’t responded the way bulls were hoping.</p><p><blockquote>然而，四月份，阿里巴巴-SW支付了低于预期但仍创纪录的罚款，希望将监管问题抛在脑后。尽管如此，该股的反应并没有像多头希望的那样。</blockquote></p><p> All of this comes as the S&amp;P 500 and Nasdaq continue to grind outnew all-time highs.</p><p><blockquote>所有这一切都发生在标普500和纳斯达克继续超越历史新高之际。</blockquote></p><p> It also comes as FAANG stocks continue to trade incredibly well. Alphabet&nbsp;(<b>GOOGL</b>) -Get Reportis the top performerwith a near-40% gain in the first half of the year, while Netflix&nbsp;(<b>NFLX</b>) -Get Report&nbsp;is the worst, with a 2.3% drop.</p><p><blockquote>与此同时，FAANG股票的交易继续非常好。Alphabet(<b>GOOGL</b>)-Get Reportis是表现最好的公司，上半年涨幅接近40%，而Netflix(<b>NFLX</b>）-Get报告最差，下降了2.3%。</blockquote></p><p> Alibaba has a similar first-half performance, down 2.6%. However, it’s doing far worse from the highs, down more than 30%.</p><p><blockquote>阿里巴巴-SW上半年表现类似，下跌2.6%。然而，它的表现比高点差得多，下跌了30%以上。</blockquote></p><p> Can it turn around its woes in the second half and start rallying higher?</p><p><blockquote>它能否在下半年扭转困境并开始反弹？</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9975f383919ff8cfc34fca49a32d8e8f\" tg-width=\"700\" tg-height=\"494\"></p><p><blockquote></blockquote></p><p> Call me a hopeless optimist, but I feel that Alibaba can have a solid second-half performance.</p><p><blockquote>看涨期权我是一个无可救药的乐观主义者，但我觉得阿里巴巴-SW下半场可以有稳定的表现。</blockquote></p><p> The overall market has done too well and so has large-cap tech. The fundamentals of the business are intact and growth is strong. It’s like Amazon&nbsp;(<b>AMZN</b>) -Get Report.Eventually, it will perform better&nbsp;- it’s a question of “when” and not “if.”</p><p><blockquote>整体市场表现太好了，大型科技股也是如此。业务基本面完好，增长强劲。就像亚马逊（<b>AMZN</b>)-获取报告。最终，它会表现得更好——这是一个“何时”而不是“如果”的问题。</blockquote></p><p> Shares continue to hold the $210 to $212 area and have recently cleared downtrend resistance (blue line). That said, there’s plenty of overhead hurdles.</p><p><blockquote>股价继续守住210美元至212美元区域，最近已清除下行阻力（蓝线）。也就是说，还有很多障碍。</blockquote></p><p> Specifically, Alibaba stock is struggling with the 21-week moving average, as well as the 21-month and 10-month moving averages.</p><p><blockquote>具体来说，阿里巴巴-SW股票在21周移动平均线以及21个月和10个月移动平均线上苦苦挣扎。</blockquote></p><p> Let’s be clear: There are not a lot of bullish technical components here. If Alibaba stock could hold the 10-week moving average on this week’s dip, I’d feel better about it.</p><p><blockquote>让我们明确一点：这里没有很多看涨的技术成分。如果阿里巴巴-SW股票能够在本周下跌时守住10周移动平均线，我会感觉更好。</blockquote></p><p> However, as long as it can hold up over the $210 level and really, the 200-week moving average, I feel okay about Alibaba going into the next six months.</p><p><blockquote>然而，只要它能够保持在210美元水平和200周移动平均线以上，我对阿里巴巴-SW进入未来六个月感到满意。</blockquote></p><p> A push over $235 - thus putting it over all of the moving average hurdles mentioned above - could open up a run to $250, then $263. Above $275 and $300 is in play.</p><p><blockquote>突破235美元——从而突破上述所有移动平均线障碍——可能会上涨至250美元，然后是263美元。275美元以上和300美元正在发挥作用。</blockquote></p><p> Keep the risk in mind but this could be a solid second-half rebound play.</p><p><blockquote>请记住风险，但这可能是一场稳固的下半场反弹。</blockquote></p><p></p>","source":"lsy1610613172068","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>Can Alibaba Turn Around Its Woes in the Second Half of 2021?<blockquote>阿里巴巴-SW能否在2021年下半年扭转颓势？</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\">\nCan Alibaba Turn Around Its Woes in the Second Half of 2021?<blockquote>阿里巴巴-SW能否在2021年下半年扭转颓势？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Street</strong><span class=\"h-time small\">2021-07-03 10:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?  Alibaba&nbsp;(<b>BABA</b>) -Get Report&nbsp;has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.</p><p><blockquote>与大型股和超大型股同行相比，阿里巴巴-SW一直严重落后。这种情况会在2021年下半年改变吗？阿里巴巴-SW(<b>巴巴</b>）-今年到目前为止，Get报告一直是一只狗。该股在2020年第四季度一直交易良好，但随后一系列问题重创了该股。</blockquote></p><p> Regulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.</p><p><blockquote>监管机构扰乱了蚂蚁金服的首次公开募股，然后深入调查了阿里巴巴-SW并加大了力度。</blockquote></p><p> Investors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.</p><p><blockquote>投资者不喜欢监管问题，尤其是当我们与中国监管机构打交道时。</blockquote></p><p> However, in April, Alibaba paid a smaller-than-expectedbut still record fine, hoping to puts its regulatory issues behind it. Still, the stock hasn’t responded the way bulls were hoping.</p><p><blockquote>然而，四月份，阿里巴巴-SW支付了低于预期但仍创纪录的罚款，希望将监管问题抛在脑后。尽管如此，该股的反应并没有像多头希望的那样。</blockquote></p><p> All of this comes as the S&amp;P 500 and Nasdaq continue to grind outnew all-time highs.</p><p><blockquote>所有这一切都发生在标普500和纳斯达克继续超越历史新高之际。</blockquote></p><p> It also comes as FAANG stocks continue to trade incredibly well. Alphabet&nbsp;(<b>GOOGL</b>) -Get Reportis the top performerwith a near-40% gain in the first half of the year, while Netflix&nbsp;(<b>NFLX</b>) -Get Report&nbsp;is the worst, with a 2.3% drop.</p><p><blockquote>与此同时，FAANG股票的交易继续非常好。Alphabet(<b>GOOGL</b>)-Get Reportis是表现最好的公司，上半年涨幅接近40%，而Netflix(<b>NFLX</b>）-Get报告最差，下降了2.3%。</blockquote></p><p> Alibaba has a similar first-half performance, down 2.6%. However, it’s doing far worse from the highs, down more than 30%.</p><p><blockquote>阿里巴巴-SW上半年表现类似，下跌2.6%。然而，它的表现比高点差得多，下跌了30%以上。</blockquote></p><p> Can it turn around its woes in the second half and start rallying higher?</p><p><blockquote>它能否在下半年扭转困境并开始反弹？</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9975f383919ff8cfc34fca49a32d8e8f\" tg-width=\"700\" tg-height=\"494\"></p><p><blockquote></blockquote></p><p> Call me a hopeless optimist, but I feel that Alibaba can have a solid second-half performance.</p><p><blockquote>看涨期权我是一个无可救药的乐观主义者，但我觉得阿里巴巴-SW下半场可以有稳定的表现。</blockquote></p><p> The overall market has done too well and so has large-cap tech. The fundamentals of the business are intact and growth is strong. It’s like Amazon&nbsp;(<b>AMZN</b>) -Get Report.Eventually, it will perform better&nbsp;- it’s a question of “when” and not “if.”</p><p><blockquote>整体市场表现太好了，大型科技股也是如此。业务基本面完好，增长强劲。就像亚马逊（<b>AMZN</b>)-获取报告。最终，它会表现得更好——这是一个“何时”而不是“如果”的问题。</blockquote></p><p> Shares continue to hold the $210 to $212 area and have recently cleared downtrend resistance (blue line). That said, there’s plenty of overhead hurdles.</p><p><blockquote>股价继续守住210美元至212美元区域，最近已清除下行阻力（蓝线）。也就是说，还有很多障碍。</blockquote></p><p> Specifically, Alibaba stock is struggling with the 21-week moving average, as well as the 21-month and 10-month moving averages.</p><p><blockquote>具体来说，阿里巴巴-SW股票在21周移动平均线以及21个月和10个月移动平均线上苦苦挣扎。</blockquote></p><p> Let’s be clear: There are not a lot of bullish technical components here. If Alibaba stock could hold the 10-week moving average on this week’s dip, I’d feel better about it.</p><p><blockquote>让我们明确一点：这里没有很多看涨的技术成分。如果阿里巴巴-SW股票能够在本周下跌时守住10周移动平均线，我会感觉更好。</blockquote></p><p> However, as long as it can hold up over the $210 level and really, the 200-week moving average, I feel okay about Alibaba going into the next six months.</p><p><blockquote>然而，只要它能够保持在210美元水平和200周移动平均线以上，我对阿里巴巴-SW进入未来六个月感到满意。</blockquote></p><p> A push over $235 - thus putting it over all of the moving average hurdles mentioned above - could open up a run to $250, then $263. Above $275 and $300 is in play.</p><p><blockquote>突破235美元——从而突破上述所有移动平均线障碍——可能会上涨至250美元，然后是263美元。275美元以上和300美元正在发挥作用。</blockquote></p><p> Keep the risk in mind but this could be a solid second-half rebound play.</p><p><blockquote>请记住风险，但这可能是一场稳固的下半场反弹。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/alibaba-baba-stock-second-half-2021-trading?puc=yahoo&cm_ven=YAHOO\">The Street</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":{"09618":"京东集团-SW","BABA":"阿里巴巴"},"source_url":"https://www.thestreet.com/investing/alibaba-baba-stock-second-half-2021-trading?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146176335","content_text":"Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?\n\nAlibaba (BABA) -Get Report has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.\nRegulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.\nInvestors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.\nHowever, in April, Alibaba paid a smaller-than-expectedbut still record fine, hoping to puts its regulatory issues behind it. Still, the stock hasn’t responded the way bulls were hoping.\nAll of this comes as the S&P 500 and Nasdaq continue to grind outnew all-time highs.\nIt also comes as FAANG stocks continue to trade incredibly well. Alphabet (GOOGL) -Get Reportis the top performerwith a near-40% gain in the first half of the year, while Netflix (NFLX) -Get Report is the worst, with a 2.3% drop.\nAlibaba has a similar first-half performance, down 2.6%. However, it’s doing far worse from the highs, down more than 30%.\nCan it turn around its woes in the second half and start rallying higher?\n\nCall me a hopeless optimist, but I feel that Alibaba can have a solid second-half performance.\nThe overall market has done too well and so has large-cap tech. The fundamentals of the business are intact and growth is strong. It’s like Amazon (AMZN) -Get Report.Eventually, it will perform better - it’s a question of “when” and not “if.”\nShares continue to hold the $210 to $212 area and have recently cleared downtrend resistance (blue line). That said, there’s plenty of overhead hurdles.\nSpecifically, Alibaba stock is struggling with the 21-week moving average, as well as the 21-month and 10-month moving averages.\nLet’s be clear: There are not a lot of bullish technical components here. If Alibaba stock could hold the 10-week moving average on this week’s dip, I’d feel better about it.\nHowever, as long as it can hold up over the $210 level and really, the 200-week moving average, I feel okay about Alibaba going into the next six months.\nA push over $235 - thus putting it over all of the moving average hurdles mentioned above - could open up a run to $250, then $263. Above $275 and $300 is in play.\nKeep the risk in mind but this could be a solid second-half rebound play.","news_type":1,"symbols_score_info":{"BABA":0.9,"09618":0.9}},"isVote":1,"tweetType":1,"viewCount":3007,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158764310,"gmtCreate":1625182792130,"gmtModify":1631890545469,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Good to hear that","listText":"Good to hear that","text":"Good to hear that","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158764310","repostId":"1175195232","repostType":4,"repost":{"id":"1175195232","kind":"news","pubTimestamp":1625182546,"share":"https://www.laohu8.com/m/news/1175195232?lang=zh_CN&edition=full","pubTime":"2021-07-02 07:35","market":"us","language":"en","title":"U.S. quarterly auto sales jump on strong SUV demand, shift to EVs<blockquote>SUV需求强劲，转向电动汽车，美国季度汽车销量猛增</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175195232","media":"Reuters","summary":"(Reuters) -U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for","content":"<p>(Reuters) -U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for SUVs and pointed to the trend continuing into 2022, as more people shift to private conveyance and new electric vehicles (EVs) line up for launch.</p><p><blockquote>（路透社）-美国。汽车制造商周四报告称，由于SUV需求强劲，季度销量大幅增长，并指出随着越来越多的人转向私人交通工具以及新型电动汽车(EV)排队推出，这一趋势将持续到2022年。</blockquote></p><p> Low interest rates, government stimulus and a preference for personal transportation due to the COVID-19 pandemic have bolstered demand for cars, even as prices have risen due to tight inventories following a global semiconductor shortage.</p><p><blockquote>低利率、政府刺激措施以及COVID-19大流行对个人交通的偏好提振了汽车需求，尽管全球半导体短缺后库存紧张导致价格上涨。</blockquote></p><p> Higher vehicle prices have boosted profitability for automakers, who have also increased investments in EV production.</p><p><blockquote>汽车价格上涨提高了汽车制造商的盈利能力，他们也增加了对电动汽车生产的投资。</blockquote></p><p> General Motors Co said its Chevrolet Bolt EV posted record second-quarter deliveries, with total Chevrolet sales up 31%, while sales of its Buick premium SUVs soared 86%.</p><p><blockquote>通用汽车公司表示，其雪佛兰Bolt EV第二季度交付量创历史新高，雪佛兰总销量增长31%，而别克高级SUV销量飙升86%。</blockquote></p><p> “We expect continued high demand in the second half of this year and into 2022,” Elaine Buckberg, GM’s chief economist, said.</p><p><blockquote>通用汽车首席经济学家伊莱恩·巴克伯格(Elaine Buckberg)表示：“我们预计今年下半年和2022年需求将持续强劲。”</blockquote></p><p> Last month, the No.1 U.S. automaker increased its EV budget to $35 billion through 2025.</p><p><blockquote>上个月，这家美国第一大汽车制造商将到2025年的电动汽车预算增加至350亿美元。</blockquote></p><p> Japan’s Toyota Motor Corp said alternative powered vehicles represented nearly a quarter of its sales volume through June this year, up from 13% a year earlier.</p><p><blockquote>日本丰田汽车公司表示，截至今年6月，替代动力汽车占其销量的近四分之一，高于去年同期的13%。</blockquote></p><p> Toyota’s overall U.S. sales rose about 73% to 688,813 vehicles in the second quarter.</p><p><blockquote>丰田第二季度美国整体销量增长约73%至688,813辆。</blockquote></p><p> “There need to be more models beyond Tesla ... next year, the (Ford) F-150 Lightning should help move the needle upward,” said Morningstar analyst David Whiston.</p><p><blockquote>晨星公司分析师大卫·惠斯顿(David Whiston)表示：“除了特斯拉之外，还需要有更多车型……明年，（福特）F-150 Lightning应该有助于推动这一趋势。”</blockquote></p><p> Several new EVs will launch in the second half of 2021 including Chevrolet’s Bolt EUV, Hyundai’s Ioniq 5 and Kia’s EV6 models, helping lift the overall share of EVs in the United States from just 2% of all registered vehicles currently.</p><p><blockquote>几款新的电动汽车将于2021年下半年推出，包括雪佛兰的Bolt EUV、现代的Ioniq 5和起亚的EV6车型，有助于提高电动汽车在美国的整体份额，目前仅占所有注册车辆的2%。</blockquote></p><p> Ford, which sold more than 10,000 units of its Mustang Mach-E SUV in the first five months of this year, will launch the electric version of its best-selling F-150 pickup in 2022. The company is expected to report its sales numbers on Friday.</p><p><blockquote>福特今年前5个月野马Mach-E SUV销量超过1万辆，将于2022年推出其最畅销的F-150皮卡的电动版本。该公司预计将于周五公布销售数据。</blockquote></p><p> Separately, data from analytics firm Wards Intelligence showed that the pace of U.S. light-vehicle sales slowed in June to 1.3 million units from 1.6 million in May.</p><p><blockquote>另外，分析公司Wards Intelligence的数据显示，6月份美国轻型汽车销售速度从5月份的160万辆放缓至130万辆。</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>U.S. quarterly auto sales jump on strong SUV demand, shift to EVs<blockquote>SUV需求强劲，转向电动汽车，美国季度汽车销量猛增</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\">\nU.S. quarterly auto sales jump on strong SUV demand, shift to EVs<blockquote>SUV需求强劲，转向电动汽车，美国季度汽车销量猛增</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-02 07:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) -U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for SUVs and pointed to the trend continuing into 2022, as more people shift to private conveyance and new electric vehicles (EVs) line up for launch.</p><p><blockquote>（路透社）-美国。汽车制造商周四报告称，由于SUV需求强劲，季度销量大幅增长，并指出随着越来越多的人转向私人交通工具以及新型电动汽车(EV)排队推出，这一趋势将持续到2022年。</blockquote></p><p> Low interest rates, government stimulus and a preference for personal transportation due to the COVID-19 pandemic have bolstered demand for cars, even as prices have risen due to tight inventories following a global semiconductor shortage.</p><p><blockquote>低利率、政府刺激措施以及COVID-19大流行对个人交通的偏好提振了汽车需求，尽管全球半导体短缺后库存紧张导致价格上涨。</blockquote></p><p> Higher vehicle prices have boosted profitability for automakers, who have also increased investments in EV production.</p><p><blockquote>汽车价格上涨提高了汽车制造商的盈利能力，他们也增加了对电动汽车生产的投资。</blockquote></p><p> General Motors Co said its Chevrolet Bolt EV posted record second-quarter deliveries, with total Chevrolet sales up 31%, while sales of its Buick premium SUVs soared 86%.</p><p><blockquote>通用汽车公司表示，其雪佛兰Bolt EV第二季度交付量创历史新高，雪佛兰总销量增长31%，而别克高级SUV销量飙升86%。</blockquote></p><p> “We expect continued high demand in the second half of this year and into 2022,” Elaine Buckberg, GM’s chief economist, said.</p><p><blockquote>通用汽车首席经济学家伊莱恩·巴克伯格(Elaine Buckberg)表示：“我们预计今年下半年和2022年需求将持续强劲。”</blockquote></p><p> Last month, the No.1 U.S. automaker increased its EV budget to $35 billion through 2025.</p><p><blockquote>上个月，这家美国第一大汽车制造商将到2025年的电动汽车预算增加至350亿美元。</blockquote></p><p> Japan’s Toyota Motor Corp said alternative powered vehicles represented nearly a quarter of its sales volume through June this year, up from 13% a year earlier.</p><p><blockquote>日本丰田汽车公司表示，截至今年6月，替代动力汽车占其销量的近四分之一，高于去年同期的13%。</blockquote></p><p> Toyota’s overall U.S. sales rose about 73% to 688,813 vehicles in the second quarter.</p><p><blockquote>丰田第二季度美国整体销量增长约73%至688,813辆。</blockquote></p><p> “There need to be more models beyond Tesla ... next year, the (Ford) F-150 Lightning should help move the needle upward,” said Morningstar analyst David Whiston.</p><p><blockquote>晨星公司分析师大卫·惠斯顿(David Whiston)表示：“除了特斯拉之外，还需要有更多车型……明年，（福特）F-150 Lightning应该有助于推动这一趋势。”</blockquote></p><p> Several new EVs will launch in the second half of 2021 including Chevrolet’s Bolt EUV, Hyundai’s Ioniq 5 and Kia’s EV6 models, helping lift the overall share of EVs in the United States from just 2% of all registered vehicles currently.</p><p><blockquote>几款新的电动汽车将于2021年下半年推出，包括雪佛兰的Bolt EUV、现代的Ioniq 5和起亚的EV6车型，有助于提高电动汽车在美国的整体份额，目前仅占所有注册车辆的2%。</blockquote></p><p> Ford, which sold more than 10,000 units of its Mustang Mach-E SUV in the first five months of this year, will launch the electric version of its best-selling F-150 pickup in 2022. The company is expected to report its sales numbers on Friday.</p><p><blockquote>福特今年前5个月野马Mach-E SUV销量超过1万辆，将于2022年推出其最畅销的F-150皮卡的电动版本。该公司预计将于周五公布销售数据。</blockquote></p><p> Separately, data from analytics firm Wards Intelligence showed that the pace of U.S. light-vehicle sales slowed in June to 1.3 million units from 1.6 million in May.</p><p><blockquote>另外，分析公司Wards Intelligence的数据显示，6月份美国轻型汽车销售速度从5月份的160万辆放缓至130万辆。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-autos-sales/update-4-u-s-quarterly-auto-sales-jump-on-strong-suv-demand-shift-to-evs-idUSL3N2OD3MQ\">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":{"F":"福特汽车","GE":"GE航空航天","TSLA":"特斯拉","TM":"丰田汽车"},"source_url":"https://www.reuters.com/article/usa-autos-sales/update-4-u-s-quarterly-auto-sales-jump-on-strong-suv-demand-shift-to-evs-idUSL3N2OD3MQ","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175195232","content_text":"(Reuters) -U.S. automakers on Thursday reported a sharp rise in quarterly sales on strong demand for SUVs and pointed to the trend continuing into 2022, as more people shift to private conveyance and new electric vehicles (EVs) line up for launch.\nLow interest rates, government stimulus and a preference for personal transportation due to the COVID-19 pandemic have bolstered demand for cars, even as prices have risen due to tight inventories following a global semiconductor shortage.\nHigher vehicle prices have boosted profitability for automakers, who have also increased investments in EV production.\nGeneral Motors Co said its Chevrolet Bolt EV posted record second-quarter deliveries, with total Chevrolet sales up 31%, while sales of its Buick premium SUVs soared 86%.\n“We expect continued high demand in the second half of this year and into 2022,” Elaine Buckberg, GM’s chief economist, said.\nLast month, the No.1 U.S. automaker increased its EV budget to $35 billion through 2025.\nJapan’s Toyota Motor Corp said alternative powered vehicles represented nearly a quarter of its sales volume through June this year, up from 13% a year earlier.\nToyota’s overall U.S. sales rose about 73% to 688,813 vehicles in the second quarter.\n“There need to be more models beyond Tesla ... next year, the (Ford) F-150 Lightning should help move the needle upward,” said Morningstar analyst David Whiston.\nSeveral new EVs will launch in the second half of 2021 including Chevrolet’s Bolt EUV, Hyundai’s Ioniq 5 and Kia’s EV6 models, helping lift the overall share of EVs in the United States from just 2% of all registered vehicles currently.\nFord, which sold more than 10,000 units of its Mustang Mach-E SUV in the first five months of this year, will launch the electric version of its best-selling F-150 pickup in 2022. The company is expected to report its sales numbers on Friday.\nSeparately, data from analytics firm Wards Intelligence showed that the pace of U.S. light-vehicle sales slowed in June to 1.3 million units from 1.6 million in May.","news_type":1,"symbols_score_info":{"GE":0.9,"F":0.9,"TSLA":0.9,"TM":0.9}},"isVote":1,"tweetType":1,"viewCount":1728,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154698376,"gmtCreate":1625521322195,"gmtModify":1631890545438,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/154698376","repostId":"1166963826","repostType":4,"repost":{"id":"1166963826","kind":"news","pubTimestamp":1625486061,"share":"https://www.laohu8.com/m/news/1166963826?lang=zh_CN&edition=full","pubTime":"2021-07-05 19:54","market":"us","language":"en","title":"US IPO This Week: Just 2 IPOs scheduled for the shortened holiday week<blockquote>本周美国IPO：缩短的假期周仅安排2起IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166963826","media":"renaissancecap...","summary":"Following its busiest week in over a decade, the US IPO market is taking a breather after the holida","content":"<p>Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.</p><p><blockquote>在经历了十多年来最繁忙的一周后，美国IPO市场在假期后休息一下，在未来缩短的一周内仅安排了两起IPO。</blockquote></p><p> While the calendar is quiet at the moment, several companies are primed to launch, including luxury social club&nbsp;<b>Membership Collective Group</b>(MCG), Wahlberg-backed fitness franchise&nbsp;<b>F45 Training</b>(FXLV), database provider&nbsp;<b>Couchbase</b>(BASE), and consumer banking platform<b>BlendLabs</b>(BLND).</p><p><blockquote>虽然目前日程平静，但几家公司已准备好推出，其中包括豪华社交俱乐部<b>会员集体组</b>(MCG)，沃尔伯格支持的健身特许经营店<b>F45训练</b>(FXLV)，数据库提供商<b>沙发座</b>（基地）和消费银行平台<b>混合实验室</b>（BLND）。</blockquote></p><p> Chinese healthcare data company&nbsp;<b>LinkDoc Technology</b>(LDOC) plans to raise $200 million at a $1.5 billion market cap. This AI-driven healthcare technology company provides a data platform for patient care and clinical research, specifically within oncology. Unprofitable with strong growth, LinkDoc's platform has cumulatively cared for over 3.5 million patients and provided longitudinal care for over 2.5 million patients since 2015.</p><p><blockquote>中国医疗保健数据公司<b>LinkDoc技术</b>(LDOC)计划以15亿美元的市值筹集2亿美元。这家人工智能驱动的医疗保健技术公司为患者护理和临床研究提供了一个数据平台，特别是在肿瘤学领域。自2015年以来，LinkDoc的平台已累计护理了超过350万名患者，并为超过250万名患者提供了纵向护理。</blockquote></p><p> OTC-list&nbsp;<b>Minim</b>(MINM), which provides intelligent networking products and a WiFi as a Service platform, has not set terms but plans to begin trading in the week ahead.&nbsp;Minim has developed intelligent networking products and a WiFi as a Service platform that powers applications for businesses, service providers, and home users. The company's products can be found in retailers across the US and in over 100 Internet Service Providers broadband offerings.</p><p><blockquote>场外交易清单<b>Minim</b>（MINM）提供智能联网产品和WiFi即服务平台，尚未设定条款，但计划在未来一周开始交易。Minim开发了智能联网产品和WiFi即服务平台，为企业、服务提供商和家庭用户的应用程序提供支持。该公司的产品可以在美国各地的零售商和100多家互联网服务提供商的宽带产品中找到。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/003a0748043153c660ff267811776609\" tg-width=\"1421\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO This Week: Just 2 IPOs scheduled for the shortened holiday week<blockquote>本周美国IPO：缩短的假期周仅安排2起IPO</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\">\nUS IPO This Week: Just 2 IPOs scheduled for the shortened holiday week<blockquote>本周美国IPO：缩短的假期周仅安排2起IPO</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-07-05 19:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.</p><p><blockquote>在经历了十多年来最繁忙的一周后，美国IPO市场在假期后休息一下，在未来缩短的一周内仅安排了两起IPO。</blockquote></p><p> While the calendar is quiet at the moment, several companies are primed to launch, including luxury social club&nbsp;<b>Membership Collective Group</b>(MCG), Wahlberg-backed fitness franchise&nbsp;<b>F45 Training</b>(FXLV), database provider&nbsp;<b>Couchbase</b>(BASE), and consumer banking platform<b>BlendLabs</b>(BLND).</p><p><blockquote>虽然目前日程平静，但几家公司已准备好推出，其中包括豪华社交俱乐部<b>会员集体组</b>(MCG)，沃尔伯格支持的健身特许经营店<b>F45训练</b>(FXLV)，数据库提供商<b>沙发座</b>（基地）和消费银行平台<b>混合实验室</b>（BLND）。</blockquote></p><p> Chinese healthcare data company&nbsp;<b>LinkDoc Technology</b>(LDOC) plans to raise $200 million at a $1.5 billion market cap. This AI-driven healthcare technology company provides a data platform for patient care and clinical research, specifically within oncology. Unprofitable with strong growth, LinkDoc's platform has cumulatively cared for over 3.5 million patients and provided longitudinal care for over 2.5 million patients since 2015.</p><p><blockquote>中国医疗保健数据公司<b>LinkDoc技术</b>(LDOC)计划以15亿美元的市值筹集2亿美元。这家人工智能驱动的医疗保健技术公司为患者护理和临床研究提供了一个数据平台，特别是在肿瘤学领域。自2015年以来，LinkDoc的平台已累计护理了超过350万名患者，并为超过250万名患者提供了纵向护理。</blockquote></p><p> OTC-list&nbsp;<b>Minim</b>(MINM), which provides intelligent networking products and a WiFi as a Service platform, has not set terms but plans to begin trading in the week ahead.&nbsp;Minim has developed intelligent networking products and a WiFi as a Service platform that powers applications for businesses, service providers, and home users. The company's products can be found in retailers across the US and in over 100 Internet Service Providers broadband offerings.</p><p><blockquote>场外交易清单<b>Minim</b>（MINM）提供智能联网产品和WiFi即服务平台，尚未设定条款，但计划在未来一周开始交易。Minim开发了智能联网产品和WiFi即服务平台，为企业、服务提供商和家庭用户的应用程序提供支持。该公司的产品可以在美国各地的零售商和100多家互联网服务提供商的宽带产品中找到。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/003a0748043153c660ff267811776609\" tg-width=\"1421\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/83625/US-IPO-Week-Ahead-Just-2-IPOs-scheduled-for-the-shortened-holiday-week\">renaissancecap...</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":{},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/83625/US-IPO-Week-Ahead-Just-2-IPOs-scheduled-for-the-shortened-holiday-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166963826","content_text":"Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.\nWhile the calendar is quiet at the moment, several companies are primed to launch, including luxury social club Membership Collective Group(MCG), Wahlberg-backed fitness franchise F45 Training(FXLV), database provider Couchbase(BASE), and consumer banking platformBlendLabs(BLND).\nChinese healthcare data company LinkDoc Technology(LDOC) plans to raise $200 million at a $1.5 billion market cap. This AI-driven healthcare technology company provides a data platform for patient care and clinical research, specifically within oncology. Unprofitable with strong growth, LinkDoc's platform has cumulatively cared for over 3.5 million patients and provided longitudinal care for over 2.5 million patients since 2015.\nOTC-list Minim(MINM), which provides intelligent networking products and a WiFi as a Service platform, has not set terms but plans to begin trading in the week ahead. Minim has developed intelligent networking products and a WiFi as a Service platform that powers applications for businesses, service providers, and home users. The company's products can be found in retailers across the US and in over 100 Internet Service Providers broadband offerings.","news_type":1,"symbols_score_info":{"MINM":0.9,"LDOC":0.9}},"isVote":1,"tweetType":1,"viewCount":1272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830875920,"gmtCreate":1629067592660,"gmtModify":1631890545400,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Good info","listText":"Good info","text":"Good info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830875920","repostId":"1138705612","repostType":4,"repost":{"id":"1138705612","kind":"news","pubTimestamp":1628995730,"share":"https://www.laohu8.com/m/news/1138705612?lang=zh_CN&edition=full","pubTime":"2021-08-15 10:48","market":"us","language":"en","title":"AMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪个是最好的芯片股？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1138705612","media":"seekingalpha","summary":"AMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.AMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.Even so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&D, marketing, and pricing.Nvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.This left ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>AMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.</li>  <li>AMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.</li>  <li>Even so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&amp;D, marketing, and pricing.</li>  <li>Nvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a8f0aee0f3d10db76a1ee18fe604b40\" tg-width=\"1536\" tg-height=\"864\" referrerpolicy=\"no-referrer\"><span>Andy/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD最近的CPU和GPU产品与英特尔和英伟达的产品相比更具竞争力。</li><li>事实证明，AMD的EPYC服务器芯片可以与某些英特尔芯片相媲美，甚至优于某些英特尔芯片，并使AMD获得了服务器CPU市场份额。</li><li>即便如此，英特尔仍是处理器市场的领导者，在研发、营销和定价方面相对于AMD拥有长期优势。</li><li>英伟达在GPU技术上领先于AMD，并正在利用其GPU进入人工智能等邻近的终端市场。</li></ul><p class=\"t-img-caption\"><span>安迪/iStock来自盖蒂图片社</span></p></blockquote></p><p> Intel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.</p><p><blockquote>英特尔（INTC）曾经是微芯片行业的巨人罗德斯岛，是摩尔定律力量的纪念碑。然而，该公司在10纳米工艺上遇到了麻烦，最近宣布其7纳米工艺将推迟到2023年。</blockquote></p><p> This left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.</p><p><blockquote>这为Advanced Micro Devices Inc.(AMD)敞开了大门，该公司充分利用了这个机会。AMD已经占据了CPU市场的很大份额，并正在进军曾经几乎难以渗透的服务器市场。</blockquote></p><p> AMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.</p><p><blockquote>AMD目前已连续七个季度实现两位数的收入增长，而且该公司似乎正在获得动力：管理层目前预计全年收入增长60%，高于上一季度提供的50%的预测。</blockquote></p><p> However, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.</p><p><blockquote>然而，AMD也与英伟达公司（NVDA）竞争，后者公司的GPU技术正在窃取市场份额。NVDA还凭借其GPU成功进入了邻近市场，尤其是人工智能和汽车市场。</blockquote></p><p> <b>The Ins And Outs of Intel</b></p><p><blockquote><b>英特尔的来龙去脉</b></blockquote></p><p> An understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.</p><p><blockquote>对英特尔的了解也提供了对AMD的洞察。这是由于两家公司之间的重叠，特别是在x86芯片方面。英特尔在1978年开发了x86芯片。为了满足IBM要求英特尔不是芯片的唯一供应商，INTC向AMD提供了x86指令集架构许可。</blockquote></p><p> Consequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.</p><p><blockquote>因此，英特尔和AMD在PC和服务器市场处于双头垄断地位，因为几乎所有的计算机软件都是为x86架构编写的。结果是两者都拥有与x86生态系统相关的宽阔护城河。</blockquote></p><p> Gaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.</p><p><blockquote>特别是游戏控制台基于x86架构，因为这些平台通常提供具有多个计算核心的更强大的CPU和GPU。像PC一样，游戏机运行使用基于x86的软件的游戏。这再次扼杀了来自基于ARM的设备的潜在竞争。</blockquote></p><p> Until fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.</p><p><blockquote>直到最近，AMD在x86芯片供应商方面还远远落后于INTC。然而，AMD与台积电（NYSE：TSM）合作，使用该制造商的7纳米工艺，在工艺技术上超越了INTC。再加上AMD正在开发新的创新芯片设计，这种组合拳导致INTC失去了大量的市场份额。</blockquote></p><p> At the end of Q1, AMD held 19.30% of the x86 desktop&nbsp;market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5%&nbsp;market&nbsp;share in Q4 of 2019.</p><p><blockquote>截至第一季度末，AMD占据x86台式机市场19.30%的份额，同比增长70个基点。第二季度，AMD占据了服务器市场8%的份额，高于2019年第四季度5%的市场份额。</blockquote></p><p> Despite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU&nbsp;market.</p><p><blockquote>尽管遭遇了这些挫折，但将英特尔视为一个垂死的企业似乎还为时过早。INTC是世界上最大的半导体公司之一。该公司在服务器市场占据主导地位，并且仍然占据全球x86 CPU市场的60%。</blockquote></p><p> The company has an enormous R&amp;D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.</p><p><blockquote>该公司拥有庞大的研发预算，并正在通过收购Habana Labs、Altera、Movidius和Mobileye扩展到新市场，主要是人工智能、现场可编程门阵列芯片和汽车产品。</blockquote></p><p> Investors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.</p><p><blockquote>投资者不应该仅仅因为7优于10而被英特尔新的10纳米芯片不如7纳米的说法所左右。虽然曾经用来表示芯片设计的技术水平，但它已经被误用到了无用的地步。</blockquote></p><p> However, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.</p><p><blockquote>然而，有一些问题必须承认。英特尔在智能手机市场落后于竞争对手。随着消费者转向移动设备，随着智能手机取代个人电脑，这可能会导致持续的阻力。另一方面，应该承认，INTC的服务器处理器业务随着移动设备和云计算的激增而增长。</blockquote></p><p> Intel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.</p><p><blockquote>英特尔还面临着来自AMD在数据中心领域日益激烈的竞争，以及客户为CPU开发自己的基于ARM的芯片。</blockquote></p><p> <b>An Overview of AMD</b></p><p><blockquote><b>AMD概述</b></blockquote></p><p> In years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.</p><p><blockquote>过去几年，INTC占据了x86市场的最大份额。这部分归功于英特尔领先的制造以及AMD与不太出色的GlobalFoundries签订的晶圆供应协议。</blockquote></p><p></p><p> However, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.</p><p><blockquote>然而，由于三个因素，发生了翻天覆地的转变：在创新设计的推动下，AMD将有竞争力的产品推向市场，AMD转向台积电生产，英特尔面临一再的制造延迟。下面两张图表记录了公司取得的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/903df41d5400c9807ff487a75a7e5450\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益报告</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/331cd14b666f520a62d0746d5fadfa5b\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益报告</span></p></blockquote></p><p> Like Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.</p><p><blockquote>与英特尔一样，AMD的主要产品是CPU和GPU。AMD的芯片专为PC、游戏机、服务器和区块链应用而设计。与INTC一样，由于为x86架构设计的PC和服务器软件占主导地位，AMD的产品在很大程度上免受竞争。</blockquote></p><p> AMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.</p><p><blockquote>AMD的强劲增长很大程度上是以牺牲英特尔为代价的，因为AMD稳步蚕食了英特尔的CPU市场份额。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e7f8fbcab5da8a24d01d2b6408bd5686\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> AMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.</p><p><blockquote>AMD对CPU和GPU半定制处理器应用的关注导致了它们在微软Xbox和Sony PlayStation游戏机中的使用。</blockquote></p><p> In regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.</p><p><blockquote>在PC集成GPU方面，AMD与NVIDIA大致相当，而INTC以大约68%的市场份额占据主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/67a0fe74d986cf882623a8f39587d0d8\" tg-width=\"544\" tg-height=\"394\" referrerpolicy=\"no-referrer\"><span>Source:tom'sHARDWARE</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：汤姆五金</span></p></blockquote></p><p> However, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.</p><p><blockquote>然而，NVIDIA以80%以上的市场份额主导着独立GPU领域，AMD席卷了剩下的市场份额。NVIDIA的独立GPU可以说优于AMD的（稍后会详细介绍）；因此，投资者不应该在这里寻找增长。</blockquote></p><p> Although AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.</p><p><blockquote>尽管AMD的EPYC服务器CPU产品与竞争对手相比具有竞争力，但最初该公司依靠激进的定价来推广其第一代EPYC产品。然而，EPYC系列已经获得了更广泛的认可，随着米兰处理器的推出，该公司正在获得市场份额。由于服务器CPU比该公司的其他产品提供了更好的利润率，因此向该领域的扩张应该有助于增加收入。</blockquote></p><p> Late last year,AMD entered intoa deal&nbsp;to acquire&nbsp;Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.</p><p><blockquote>去年年底，AMD达成协议收购现场可编程门阵列(FPGA)芯片领域的领导者Xilinx(XLNX)。FPGA可用于多种应用。由于转向竞争对手的FPGA提供商需要对工程师进行软件和设计工具方面的再培训，因此客户不愿意转向竞争对手的供应商。因此，如果Xilinx交易成功，AMD将获得一条宽阔的护城河业务。交易完成后18个月内运营效率约3亿美元的管理指南。</blockquote></p><p> The Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.</p><p><blockquote>收购Xilinx应该会增强AMD的数据中心和人工智能业务。</blockquote></p><p> AMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.</p><p><blockquote>AMD同意以350亿美元的全股票交易收购赛灵思。</blockquote></p><p> <b>A Survey of NVIDIA</b></p><p><blockquote><b>英伟达调查</b></blockquote></p><p> NVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.</p><p><blockquote>NVDA对图形处理单元市场的关注使该公司在独立GPU领域占据了主导地位。该公司是计算平台（尤其是游戏机）独立GPU领域的领导者。英特尔从英伟达获得知识产权许可，将GPU集成到其PC芯片组中，这一事实证明了该公司保持的领先地位。</blockquote></p><p> The chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.</p><p><blockquote>下图记录了该公司在过去五年中能够控制的蓬勃发展的ASP，从2016年的Pascal架构开始，通过Turing发展到Ampere。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04fb1d71f9df02f6c63907fe784b2fd8\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Source:AMD Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：AMD投资者介绍</span></p></blockquote></p><p> The firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.</p><p><blockquote>该公司的芯片也存在于许多高端PC中，NVDA在新兴的人工智能和自动驾驶汽车市场尤其具有优势。</blockquote></p><p> GPUs are being teamed with CPUs to&nbsp;enhance&nbsp;computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to&nbsp;autonomous&nbsp;vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud</p><p><blockquote>GPU正与CPU结合使用，以增强计算工作负载。这一策略旨在增强人工智能系统执行计算密集型任务的能力。与自动驾驶汽车相关的人工智能是英伟达的发展优势。该公司崭露头角的另一个领域是云领域</blockquote></p><p> AI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.</p><p><blockquote>人工智能和数据中心是NVDA最有可能的增长途径。为了加强其在这两项业务中的地位，该公司去年以400亿美元从母公司软银手中收购了ARM Holdings(ARMHF)。</blockquote></p><p> ARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.</p><p><blockquote>ARM是全球最大的芯片设计许可方。它的芯片无处不在，手机、智能电视、平板电脑都能找到。使用ARM设计制造了1600亿个芯片。</blockquote></p><p></p><p> Perhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.</p><p><blockquote>也许同样重要的是，有1300万开发人员使用ARM设备。从背景来看，NVDA有200万开发人员在开发其设备系列。</blockquote></p><p> Unfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.</p><p><blockquote>对投资者来说不幸的是，据报道，中国和英国都不愿批准这笔交易。</blockquote></p><p> <b>Head-To-Head Comparisons</b></p><p><blockquote><b>头对头比较</b></blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p> The following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.</p><p><blockquote>下图提供了与每只股票估值相关的各种指标。所有标有前瞻性的数据都是分析师对下一财年的一致预期。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1bdeabcd2ea473601fbaaaa03235de77\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> Next, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.</p><p><blockquote>接下来，我用图表来提供这三家公司的PEG比率。由于分析师的输入可能会导致PEG比率存在相当大的差异，因此当我发现比率存在较大差异时，我希望读者能够访问多个来源。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/884fc2142d97afcc9e2308e50058dd45\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>作者图表</span></p></blockquote></p><p> Note that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.</p><p><blockquote>请注意，Seeking Alpha提供了三到五年的PEG，嘉信理财只是将其指标列为PEG比率，而雅虎！财务计算五年比率。这可以解释所提供数字中的一些差异。</blockquote></p><p> Perusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.</p><p><blockquote>仔细阅读第一张图表，很明显NVDA是最被高估的。还值得注意的是，当前市盈率和远期价格/现金流估计显示AMD的估值接近行业中位数。</blockquote></p><p> Count me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.</p><p><blockquote>我是一个非常重视股票PEG比率的投资者。查看第二张图表，AMD的PEG是三家公司中最好的。我还注意到，各来源的分析师计算出AMD的PEG比率均优于行业中位数。</blockquote></p><p> Do not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.</p><p><blockquote>不要误解我的发现。虽然INTC在很多方面的估值较低，但考虑到其他因素，我对AMD的整体评价较高。换句话说，这不是最便宜的估值，而是最好的估值，因为缺乏更好的方式来表达我的观点。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> <b>Analysts’ Price Targets</b></p><p><blockquote><b>分析师的价格目标</b></blockquote></p><p> NVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.</p><p><blockquote>NVIDIA股价目前交易价格为202.95美元。33位分析师的平均12个月目标价为186.49美元。在最新财报发布后对该股进行评级的17名分析师的平均目标价为210.53美元，比该股当前价格高出约3.7%。</blockquote></p><p> AMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.</p><p><blockquote>AMD股价目前交易价格为107.58美元。28位分析师的平均12个月目标价为108.56美元。在最新财报发布后对该股进行评级的11位分析师的平均目标价为117.27美元，比当前股价高出约9%。</blockquote></p><p> Intel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.</p><p><blockquote>英特尔股价目前交易价格为54.05美元。34位分析师的平均12个月目标价为59.86美元。在最新财报发布后对该股进行评级的16位分析师的平均目标价为58.97美元，较当前股价溢价9%。</blockquote></p><p> Investors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.</p><p><blockquote>投资者应该知道，自NVDA公布季度收益而INTC和AMD最近公布季度收益以来，已经过去了近三个月。</blockquote></p><p> <b>=Tie AMD/INTC</b></p><p><blockquote><b>=Tie AMD/INTC</b></blockquote></p><p> <b>Growth Rates</b></p><p><blockquote><b>增长率</b></blockquote></p><p> The next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.</p><p><blockquote>下一张图表提供了增长率数据。除非另有说明，这些指标反映了分析师的平均两年预测。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8ae1b79b3731a985fc209e626ca4886\" tg-width=\"577\" tg-height=\"337\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> While investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.</p><p><blockquote>虽然熟悉这三家公司的投资者预计INTC在增长方面的表现不如NVDA和AMD，但在某些情况下，英特尔预计将出现负增长率。</blockquote></p><p> Advanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.</p><p><blockquote>Advanced Micro Devices的预计增长在每个类别中都领先于NVIDIA，有时甚至大幅领先。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> I considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.</p><p><blockquote>我考虑提供一张图表，概述每家公司的盈利能力；然而，只要说每一个都是高利润就足够了，三者并置会导致平局。</blockquote></p><p> I often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.</p><p><blockquote>我经常提供分解股息指标的比较，但AMD不支付股息，而NVDA的收益率也很低。INTC目前的收益率约为2.6%。股息资金充足。</blockquote></p><p> <b>Debt Metrics</b></p><p><blockquote><b>债务指标</b></blockquote></p><p> NVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.</p><p><blockquote>英伟达拥有126.7亿美元现金，上季度末为59.6亿美元。如果ARM收购获得批准，该交易的结构将使400亿美元收购价格中的210亿美元将是股票。</blockquote></p><p> AMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.</p><p><blockquote>AMD重组了债务，从而降低了利息成本。截至最近一个季度末，AMD拥有约38亿美元现金和3.13亿美元长期债务。</blockquote></p><p> Intel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.</p><p><blockquote>英特尔拥有可靠的投资级信用评级。截至上季度末，该公司持有近248.6亿美元现金，长期债务为317亿美元。</blockquote></p><p></p><p> All three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.</p><p><blockquote>这三家公司都拥有强劲的财务状况。考虑到NVDA和AMD可能因潜在收购而增加债务的可能性，我对这三家公司的评级相同。</blockquote></p><p> <b>R&amp;D Budgets</b></p><p><blockquote><b>研发预算</b></blockquote></p><p> This is the first time I have&nbsp;compared&nbsp;the R&amp;D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.</p><p><blockquote>这是我第一次比较企业的研发预算进行正面对决。然而，在半导体行业，这可能至关重要。</blockquote></p><p> Last fiscal year, Intel devoted over $13.5 billion to R&amp;D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.</p><p><blockquote>上一财年，英特尔在研发上投入了超过135亿美元，NVDA花费了近28.3亿美元，AMD的研发预算略高于19亿美元。</blockquote></p><p> AMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&amp;D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.</p><p><blockquote>AMD处于明显的劣势，而且这种劣势被放大了，因为它经常在不同的领域与INTC和NVDA竞争。应该指出的是，英特尔的部分研发资金流向了其代工业务。尽管如此，它是这里明显的赢家，AMD是明显的输家。</blockquote></p><p> I should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&amp;D budgets.</p><p><blockquote>我应该补充一点，NVDA正在蚕食AMD在独立GPU市场的份额，我相信这种趋势将继续下去，部分原因是研发预算的差异。</blockquote></p><p> <b>=Advantage INTC</b></p><p><blockquote><b>=优势INTC</b></blockquote></p><p> <b>Bottom Line: Which Is The Best Chip Stock?</b></p><p><blockquote><b>一句话：最好的芯片股是哪只？</b></blockquote></p><p> To arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.</p><p><blockquote>要得出答案，很大程度上取决于英伟达能否完成对ARM的收购。</blockquote></p><p> Because ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.</p><p><blockquote>由于ARM处理器比x86芯片更强大、更具成本效益，NVDA可以在数据中心领域获得市场份额。由于英特尔大约三分之一的收入来自数据中心，这可能对INTC来说是一个阻力，对NVDA来说是一个积极的因素。然而，这笔交易很有可能无法完成。</blockquote></p><p> The degree of success Intel finds as its&nbsp;planned&nbsp;foundries come online is another factor that should be weighed.</p><p><blockquote>英特尔计划的代工厂上线后取得的成功程度是另一个应该权衡的因素。</blockquote></p><p> A development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.</p><p><blockquote>一个需要权衡的发展是，就其产品质量而言，AMD现在已经在PC市场上与INTC持平。此外，AMD正在服务器市场获得市场份额，我预计这一趋势将持续下去。</blockquote></p><p> On the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.</p><p><blockquote>另一方面，AMD正在将独立GPU市场的份额输给NVDA。NVDA在该领域拥有技术领先地位，这种领先地位可能会持续下去。</blockquote></p><p> While AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.</p><p><blockquote>虽然AMD和NVDA被视为增长机器，但人们不应忽视英特尔的物联网业务在上个季度增长了47%。Mobileye也出现了大幅增长，收入增长了124%。尽管这些业务的总收入只有13亿美元，与英特尔185亿美元的总收入相比只是一小部分，但它们仍然代表着高增长领域。</blockquote></p><p> However, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.</p><p><blockquote>但是，请注意标题指的是“芯片库存”。因此，技术优势只是难题的一部分。任何投资决策都必须考虑当前估值和预期增长率。</blockquote></p><p> With that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.</p><p><blockquote>考虑到这一点，由于目前的估值和增长预期，我必须将英伟达评级为持有。请注意，我的评级基于该股票的当前估值。我承认该公司堪称典范的领导力，并相信该股票的长期前景非常好。</blockquote></p><p> I also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.</p><p><blockquote>我也将INTC评级为持有。我之前将该公司评级为买入。虽然我仍然相信该公司将很好地为长期投资者服务，但我现在相信它的复苏将在很长一段时间内展开，并且会有更好的机会。</blockquote></p><p> I rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.</p><p><blockquote>我将AMD评级为买入。这是基于本文概述的当前估值和增长率。我要补充的是，这些指标得到了我的看法的支持，即随着英特尔努力复苏，AMD可能会蚕食市场份额。</blockquote></p><p> For additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA&nbsp;contributor&nbsp;Keyanoush Razavidinani.</p><p><blockquote>为了更多地了解投资AMD和INTC的技术方面，我推荐SA撰稿人Keyanoush Razavidinani的一篇优秀文章。</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>AMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪个是最好的芯片股？</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\">\nAMD, Intel, And Nvidia: Which Is The Best Chip Stock?<blockquote>AMD、英特尔和英伟达：哪个是最好的芯片股？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-15 10:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>AMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.</li>  <li>AMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.</li>  <li>Even so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&amp;D, marketing, and pricing.</li>  <li>Nvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a8f0aee0f3d10db76a1ee18fe604b40\" tg-width=\"1536\" tg-height=\"864\" referrerpolicy=\"no-referrer\"><span>Andy/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD最近的CPU和GPU产品与英特尔和英伟达的产品相比更具竞争力。</li><li>事实证明，AMD的EPYC服务器芯片可以与某些英特尔芯片相媲美，甚至优于某些英特尔芯片，并使AMD获得了服务器CPU市场份额。</li><li>即便如此，英特尔仍是处理器市场的领导者，在研发、营销和定价方面相对于AMD拥有长期优势。</li><li>英伟达在GPU技术上领先于AMD，并正在利用其GPU进入人工智能等邻近的终端市场。</li></ul><p class=\"t-img-caption\"><span>安迪/iStock来自盖蒂图片社</span></p></blockquote></p><p> Intel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.</p><p><blockquote>英特尔（INTC）曾经是微芯片行业的巨人罗德斯岛，是摩尔定律力量的纪念碑。然而，该公司在10纳米工艺上遇到了麻烦，最近宣布其7纳米工艺将推迟到2023年。</blockquote></p><p> This left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.</p><p><blockquote>这为Advanced Micro Devices Inc.(AMD)敞开了大门，该公司充分利用了这个机会。AMD已经占据了CPU市场的很大份额，并正在进军曾经几乎难以渗透的服务器市场。</blockquote></p><p> AMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.</p><p><blockquote>AMD目前已连续七个季度实现两位数的收入增长，而且该公司似乎正在获得动力：管理层目前预计全年收入增长60%，高于上一季度提供的50%的预测。</blockquote></p><p> However, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.</p><p><blockquote>然而，AMD也与英伟达公司（NVDA）竞争，后者公司的GPU技术正在窃取市场份额。NVDA还凭借其GPU成功进入了邻近市场，尤其是人工智能和汽车市场。</blockquote></p><p> <b>The Ins And Outs of Intel</b></p><p><blockquote><b>英特尔的来龙去脉</b></blockquote></p><p> An understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.</p><p><blockquote>对英特尔的了解也提供了对AMD的洞察。这是由于两家公司之间的重叠，特别是在x86芯片方面。英特尔在1978年开发了x86芯片。为了满足IBM要求英特尔不是芯片的唯一供应商，INTC向AMD提供了x86指令集架构许可。</blockquote></p><p> Consequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.</p><p><blockquote>因此，英特尔和AMD在PC和服务器市场处于双头垄断地位，因为几乎所有的计算机软件都是为x86架构编写的。结果是两者都拥有与x86生态系统相关的宽阔护城河。</blockquote></p><p> Gaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.</p><p><blockquote>特别是游戏控制台基于x86架构，因为这些平台通常提供具有多个计算核心的更强大的CPU和GPU。像PC一样，游戏机运行使用基于x86的软件的游戏。这再次扼杀了来自基于ARM的设备的潜在竞争。</blockquote></p><p> Until fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.</p><p><blockquote>直到最近，AMD在x86芯片供应商方面还远远落后于INTC。然而，AMD与台积电（NYSE：TSM）合作，使用该制造商的7纳米工艺，在工艺技术上超越了INTC。再加上AMD正在开发新的创新芯片设计，这种组合拳导致INTC失去了大量的市场份额。</blockquote></p><p> At the end of Q1, AMD held 19.30% of the x86 desktop&nbsp;market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5%&nbsp;market&nbsp;share in Q4 of 2019.</p><p><blockquote>截至第一季度末，AMD占据x86台式机市场19.30%的份额，同比增长70个基点。第二季度，AMD占据了服务器市场8%的份额，高于2019年第四季度5%的市场份额。</blockquote></p><p> Despite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU&nbsp;market.</p><p><blockquote>尽管遭遇了这些挫折，但将英特尔视为一个垂死的企业似乎还为时过早。INTC是世界上最大的半导体公司之一。该公司在服务器市场占据主导地位，并且仍然占据全球x86 CPU市场的60%。</blockquote></p><p> The company has an enormous R&amp;D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.</p><p><blockquote>该公司拥有庞大的研发预算，并正在通过收购Habana Labs、Altera、Movidius和Mobileye扩展到新市场，主要是人工智能、现场可编程门阵列芯片和汽车产品。</blockquote></p><p> Investors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.</p><p><blockquote>投资者不应该仅仅因为7优于10而被英特尔新的10纳米芯片不如7纳米的说法所左右。虽然曾经用来表示芯片设计的技术水平，但它已经被误用到了无用的地步。</blockquote></p><p> However, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.</p><p><blockquote>然而，有一些问题必须承认。英特尔在智能手机市场落后于竞争对手。随着消费者转向移动设备，随着智能手机取代个人电脑，这可能会导致持续的阻力。另一方面，应该承认，INTC的服务器处理器业务随着移动设备和云计算的激增而增长。</blockquote></p><p> Intel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.</p><p><blockquote>英特尔还面临着来自AMD在数据中心领域日益激烈的竞争，以及客户为CPU开发自己的基于ARM的芯片。</blockquote></p><p> <b>An Overview of AMD</b></p><p><blockquote><b>AMD概述</b></blockquote></p><p> In years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.</p><p><blockquote>过去几年，INTC占据了x86市场的最大份额。这部分归功于英特尔领先的制造以及AMD与不太出色的GlobalFoundries签订的晶圆供应协议。</blockquote></p><p></p><p> However, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.</p><p><blockquote>然而，由于三个因素，发生了翻天覆地的转变：在创新设计的推动下，AMD将有竞争力的产品推向市场，AMD转向台积电生产，英特尔面临一再的制造延迟。下面两张图表记录了公司取得的进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/903df41d5400c9807ff487a75a7e5450\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益报告</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/331cd14b666f520a62d0746d5fadfa5b\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：第二季度收益报告</span></p></blockquote></p><p> Like Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.</p><p><blockquote>与英特尔一样，AMD的主要产品是CPU和GPU。AMD的芯片专为PC、游戏机、服务器和区块链应用而设计。与INTC一样，由于为x86架构设计的PC和服务器软件占主导地位，AMD的产品在很大程度上免受竞争。</blockquote></p><p> AMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.</p><p><blockquote>AMD的强劲增长很大程度上是以牺牲英特尔为代价的，因为AMD稳步蚕食了英特尔的CPU市场份额。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e7f8fbcab5da8a24d01d2b6408bd5686\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> AMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.</p><p><blockquote>AMD对CPU和GPU半定制处理器应用的关注导致了它们在微软Xbox和Sony PlayStation游戏机中的使用。</blockquote></p><p> In regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.</p><p><blockquote>在PC集成GPU方面，AMD与NVIDIA大致相当，而INTC以大约68%的市场份额占据主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/67a0fe74d986cf882623a8f39587d0d8\" tg-width=\"544\" tg-height=\"394\" referrerpolicy=\"no-referrer\"><span>Source:tom'sHARDWARE</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：汤姆五金</span></p></blockquote></p><p> However, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.</p><p><blockquote>然而，NVIDIA以80%以上的市场份额主导着独立GPU领域，AMD席卷了剩下的市场份额。NVIDIA的独立GPU可以说优于AMD的（稍后会详细介绍）；因此，投资者不应该在这里寻找增长。</blockquote></p><p> Although AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.</p><p><blockquote>尽管AMD的EPYC服务器CPU产品与竞争对手相比具有竞争力，但最初该公司依靠激进的定价来推广其第一代EPYC产品。然而，EPYC系列已经获得了更广泛的认可，随着米兰处理器的推出，该公司正在获得市场份额。由于服务器CPU比该公司的其他产品提供了更好的利润率，因此向该领域的扩张应该有助于增加收入。</blockquote></p><p> Late last year,AMD entered intoa deal&nbsp;to acquire&nbsp;Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.</p><p><blockquote>去年年底，AMD达成协议收购现场可编程门阵列(FPGA)芯片领域的领导者Xilinx(XLNX)。FPGA可用于多种应用。由于转向竞争对手的FPGA提供商需要对工程师进行软件和设计工具方面的再培训，因此客户不愿意转向竞争对手的供应商。因此，如果Xilinx交易成功，AMD将获得一条宽阔的护城河业务。交易完成后18个月内运营效率约3亿美元的管理指南。</blockquote></p><p> The Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.</p><p><blockquote>收购Xilinx应该会增强AMD的数据中心和人工智能业务。</blockquote></p><p> AMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.</p><p><blockquote>AMD同意以350亿美元的全股票交易收购赛灵思。</blockquote></p><p> <b>A Survey of NVIDIA</b></p><p><blockquote><b>英伟达调查</b></blockquote></p><p> NVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.</p><p><blockquote>NVDA对图形处理单元市场的关注使该公司在独立GPU领域占据了主导地位。该公司是计算平台（尤其是游戏机）独立GPU领域的领导者。英特尔从英伟达获得知识产权许可，将GPU集成到其PC芯片组中，这一事实证明了该公司保持的领先地位。</blockquote></p><p> The chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.</p><p><blockquote>下图记录了该公司在过去五年中能够控制的蓬勃发展的ASP，从2016年的Pascal架构开始，通过Turing发展到Ampere。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04fb1d71f9df02f6c63907fe784b2fd8\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Source:AMD Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：AMD投资者介绍</span></p></blockquote></p><p> The firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.</p><p><blockquote>该公司的芯片也存在于许多高端PC中，NVDA在新兴的人工智能和自动驾驶汽车市场尤其具有优势。</blockquote></p><p> GPUs are being teamed with CPUs to&nbsp;enhance&nbsp;computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to&nbsp;autonomous&nbsp;vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud</p><p><blockquote>GPU正与CPU结合使用，以增强计算工作负载。这一策略旨在增强人工智能系统执行计算密集型任务的能力。与自动驾驶汽车相关的人工智能是英伟达的发展优势。该公司崭露头角的另一个领域是云领域</blockquote></p><p> AI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.</p><p><blockquote>人工智能和数据中心是NVDA最有可能的增长途径。为了加强其在这两项业务中的地位，该公司去年以400亿美元从母公司软银手中收购了ARM Holdings(ARMHF)。</blockquote></p><p> ARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.</p><p><blockquote>ARM是全球最大的芯片设计许可方。它的芯片无处不在，手机、智能电视、平板电脑都能找到。使用ARM设计制造了1600亿个芯片。</blockquote></p><p></p><p> Perhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.</p><p><blockquote>也许同样重要的是，有1300万开发人员使用ARM设备。从背景来看，NVDA有200万开发人员在开发其设备系列。</blockquote></p><p> Unfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.</p><p><blockquote>对投资者来说不幸的是，据报道，中国和英国都不愿批准这笔交易。</blockquote></p><p> <b>Head-To-Head Comparisons</b></p><p><blockquote><b>头对头比较</b></blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p> The following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.</p><p><blockquote>下图提供了与每只股票估值相关的各种指标。所有标有前瞻性的数据都是分析师对下一财年的一致预期。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1bdeabcd2ea473601fbaaaa03235de77\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> Next, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.</p><p><blockquote>接下来，我用图表来提供这三家公司的PEG比率。由于分析师的输入可能会导致PEG比率存在相当大的差异，因此当我发现比率存在较大差异时，我希望读者能够访问多个来源。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/884fc2142d97afcc9e2308e50058dd45\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>作者图表</span></p></blockquote></p><p> Note that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.</p><p><blockquote>请注意，Seeking Alpha提供了三到五年的PEG，嘉信理财只是将其指标列为PEG比率，而雅虎！财务计算五年比率。这可以解释所提供数字中的一些差异。</blockquote></p><p> Perusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.</p><p><blockquote>仔细阅读第一张图表，很明显NVDA是最被高估的。还值得注意的是，当前市盈率和远期价格/现金流估计显示AMD的估值接近行业中位数。</blockquote></p><p> Count me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.</p><p><blockquote>我是一个非常重视股票PEG比率的投资者。查看第二张图表，AMD的PEG是三家公司中最好的。我还注意到，各来源的分析师计算出AMD的PEG比率均优于行业中位数。</blockquote></p><p> Do not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.</p><p><blockquote>不要误解我的发现。虽然INTC在很多方面的估值较低，但考虑到其他因素，我对AMD的整体评价较高。换句话说，这不是最便宜的估值，而是最好的估值，因为缺乏更好的方式来表达我的观点。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> <b>Analysts’ Price Targets</b></p><p><blockquote><b>分析师的价格目标</b></blockquote></p><p> NVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.</p><p><blockquote>NVIDIA股价目前交易价格为202.95美元。33位分析师的平均12个月目标价为186.49美元。在最新财报发布后对该股进行评级的17名分析师的平均目标价为210.53美元，比该股当前价格高出约3.7%。</blockquote></p><p> AMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.</p><p><blockquote>AMD股价目前交易价格为107.58美元。28位分析师的平均12个月目标价为108.56美元。在最新财报发布后对该股进行评级的11位分析师的平均目标价为117.27美元，比当前股价高出约9%。</blockquote></p><p> Intel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.</p><p><blockquote>英特尔股价目前交易价格为54.05美元。34位分析师的平均12个月目标价为59.86美元。在最新财报发布后对该股进行评级的16位分析师的平均目标价为58.97美元，较当前股价溢价9%。</blockquote></p><p> Investors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.</p><p><blockquote>投资者应该知道，自NVDA公布季度收益而INTC和AMD最近公布季度收益以来，已经过去了近三个月。</blockquote></p><p> <b>=Tie AMD/INTC</b></p><p><blockquote><b>=Tie AMD/INTC</b></blockquote></p><p> <b>Growth Rates</b></p><p><blockquote><b>增长率</b></blockquote></p><p> The next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.</p><p><blockquote>下一张图表提供了增长率数据。除非另有说明，这些指标反映了分析师的平均两年预测。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8ae1b79b3731a985fc209e626ca4886\" tg-width=\"577\" tg-height=\"337\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ Chart by author</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Seeking Alpha Premium/作者图表</span></p></blockquote></p><p> While investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.</p><p><blockquote>虽然熟悉这三家公司的投资者预计INTC在增长方面的表现不如NVDA和AMD，但在某些情况下，英特尔预计将出现负增长率。</blockquote></p><p> Advanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.</p><p><blockquote>Advanced Micro Devices的预计增长在每个类别中都领先于NVIDIA，有时甚至大幅领先。</blockquote></p><p> <b>=Advantage AMD</b></p><p><blockquote><b>=优势AMD</b></blockquote></p><p> I considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.</p><p><blockquote>我考虑提供一张图表，概述每家公司的盈利能力；然而，只要说每一个都是高利润就足够了，三者并置会导致平局。</blockquote></p><p> I often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.</p><p><blockquote>我经常提供分解股息指标的比较，但AMD不支付股息，而NVDA的收益率也很低。INTC目前的收益率约为2.6%。股息资金充足。</blockquote></p><p> <b>Debt Metrics</b></p><p><blockquote><b>债务指标</b></blockquote></p><p> NVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.</p><p><blockquote>英伟达拥有126.7亿美元现金，上季度末为59.6亿美元。如果ARM收购获得批准，该交易的结构将使400亿美元收购价格中的210亿美元将是股票。</blockquote></p><p> AMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.</p><p><blockquote>AMD重组了债务，从而降低了利息成本。截至最近一个季度末，AMD拥有约38亿美元现金和3.13亿美元长期债务。</blockquote></p><p> Intel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.</p><p><blockquote>英特尔拥有可靠的投资级信用评级。截至上季度末，该公司持有近248.6亿美元现金，长期债务为317亿美元。</blockquote></p><p></p><p> All three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.</p><p><blockquote>这三家公司都拥有强劲的财务状况。考虑到NVDA和AMD可能因潜在收购而增加债务的可能性，我对这三家公司的评级相同。</blockquote></p><p> <b>R&amp;D Budgets</b></p><p><blockquote><b>研发预算</b></blockquote></p><p> This is the first time I have&nbsp;compared&nbsp;the R&amp;D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.</p><p><blockquote>这是我第一次比较企业的研发预算进行正面对决。然而，在半导体行业，这可能至关重要。</blockquote></p><p> Last fiscal year, Intel devoted over $13.5 billion to R&amp;D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.</p><p><blockquote>上一财年，英特尔在研发上投入了超过135亿美元，NVDA花费了近28.3亿美元，AMD的研发预算略高于19亿美元。</blockquote></p><p> AMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&amp;D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.</p><p><blockquote>AMD处于明显的劣势，而且这种劣势被放大了，因为它经常在不同的领域与INTC和NVDA竞争。应该指出的是，英特尔的部分研发资金流向了其代工业务。尽管如此，它是这里明显的赢家，AMD是明显的输家。</blockquote></p><p> I should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&amp;D budgets.</p><p><blockquote>我应该补充一点，NVDA正在蚕食AMD在独立GPU市场的份额，我相信这种趋势将继续下去，部分原因是研发预算的差异。</blockquote></p><p> <b>=Advantage INTC</b></p><p><blockquote><b>=优势INTC</b></blockquote></p><p> <b>Bottom Line: Which Is The Best Chip Stock?</b></p><p><blockquote><b>一句话：最好的芯片股是哪只？</b></blockquote></p><p> To arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.</p><p><blockquote>要得出答案，很大程度上取决于英伟达能否完成对ARM的收购。</blockquote></p><p> Because ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.</p><p><blockquote>由于ARM处理器比x86芯片更强大、更具成本效益，NVDA可以在数据中心领域获得市场份额。由于英特尔大约三分之一的收入来自数据中心，这可能对INTC来说是一个阻力，对NVDA来说是一个积极的因素。然而，这笔交易很有可能无法完成。</blockquote></p><p> The degree of success Intel finds as its&nbsp;planned&nbsp;foundries come online is another factor that should be weighed.</p><p><blockquote>英特尔计划的代工厂上线后取得的成功程度是另一个应该权衡的因素。</blockquote></p><p> A development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.</p><p><blockquote>一个需要权衡的发展是，就其产品质量而言，AMD现在已经在PC市场上与INTC持平。此外，AMD正在服务器市场获得市场份额，我预计这一趋势将持续下去。</blockquote></p><p> On the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.</p><p><blockquote>另一方面，AMD正在将独立GPU市场的份额输给NVDA。NVDA在该领域拥有技术领先地位，这种领先地位可能会持续下去。</blockquote></p><p> While AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.</p><p><blockquote>虽然AMD和NVDA被视为增长机器，但人们不应忽视英特尔的物联网业务在上个季度增长了47%。Mobileye也出现了大幅增长，收入增长了124%。尽管这些业务的总收入只有13亿美元，与英特尔185亿美元的总收入相比只是一小部分，但它们仍然代表着高增长领域。</blockquote></p><p> However, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.</p><p><blockquote>但是，请注意标题指的是“芯片库存”。因此，技术优势只是难题的一部分。任何投资决策都必须考虑当前估值和预期增长率。</blockquote></p><p> With that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.</p><p><blockquote>考虑到这一点，由于目前的估值和增长预期，我必须将英伟达评级为持有。请注意，我的评级基于该股票的当前估值。我承认该公司堪称典范的领导力，并相信该股票的长期前景非常好。</blockquote></p><p> I also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.</p><p><blockquote>我也将INTC评级为持有。我之前将该公司评级为买入。虽然我仍然相信该公司将很好地为长期投资者服务，但我现在相信它的复苏将在很长一段时间内展开，并且会有更好的机会。</blockquote></p><p> I rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.</p><p><blockquote>我将AMD评级为买入。这是基于本文概述的当前估值和增长率。我要补充的是，这些指标得到了我的看法的支持，即随着英特尔努力复苏，AMD可能会蚕食市场份额。</blockquote></p><p> For additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA&nbsp;contributor&nbsp;Keyanoush Razavidinani.</p><p><blockquote>为了更多地了解投资AMD和INTC的技术方面，我推荐SA撰稿人Keyanoush Razavidinani的一篇优秀文章。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4448637-amd-intel-nvidia-best-chip-stock\">seekingalpha</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":"https://static.tigerbbs.com/dad74e350b9b09d45929989f896aaa9d","relate_stocks":{"AMD":"美国超微公司","NVDA":"英伟达","INTC":"英特尔"},"source_url":"https://seekingalpha.com/article/4448637-amd-intel-nvidia-best-chip-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138705612","content_text":"Summary\n\nAMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.\nAMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.\nEven so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&D, marketing, and pricing.\nNvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.\n\nAndy/iStock via Getty Images\nIntel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.\nThis left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.\nAMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.\nHowever, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.\nThe Ins And Outs of Intel\nAn understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.\nConsequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.\nGaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.\nUntil fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.\nAt the end of Q1, AMD held 19.30% of the x86 desktop market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5% market share in Q4 of 2019.\nDespite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU market.\nThe company has an enormous R&D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.\nInvestors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.\nHowever, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.\nIntel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.\nAn Overview of AMD\nIn years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.\nHowever, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.\nSource:Q2 Earnings Presentation\nSource:Q2 Earnings Presentation\nLike Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.\nAMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.\nSource:Seeking Alpha\nAMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.\nIn regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.\nSource:tom'sHARDWARE\nHowever, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.\nAlthough AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.\nLate last year,AMD entered intoa deal to acquire Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.\nThe Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.\nAMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.\nA Survey of NVIDIA\nNVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.\nThe chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.\nSource:AMD Investor Presentation\nThe firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.\nGPUs are being teamed with CPUs to enhance computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to autonomous vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud\nAI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.\nARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.\nPerhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.\nUnfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.\nHead-To-Head Comparisons\nValuation Metrics\nThe following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.\nSource:Seeking Alpha Premium/ chart by author\nNext, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.\nChart by author\nNote that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.\nPerusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.\nCount me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.\nDo not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.\n=Advantage AMD\nAnalysts’ Price Targets\nNVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.\nAMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.\nIntel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.\nInvestors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.\n=Tie AMD/INTC\nGrowth Rates\nThe next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.\nSource:Seeking Alpha Premium/ Chart by author\nWhile investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.\nAdvanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.\n=Advantage AMD\nI considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.\nI often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.\nDebt Metrics\nNVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.\nAMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.\nIntel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.\nAll three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.\nR&D Budgets\nThis is the first time I have compared the R&D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.\nLast fiscal year, Intel devoted over $13.5 billion to R&D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.\nAMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.\nI should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&D budgets.\n=Advantage INTC\nBottom Line: Which Is The Best Chip Stock?\nTo arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.\nBecause ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.\nThe degree of success Intel finds as its planned foundries come online is another factor that should be weighed.\nA development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.\nOn the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.\nWhile AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.\nHowever, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.\nWith that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.\nI also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.\nI rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.\nFor additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA contributor Keyanoush Razavidinani.","news_type":1,"symbols_score_info":{"INTC":0.9,"AMD":0.9,"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158765208,"gmtCreate":1625182756404,"gmtModify":1631890545482,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Latest cool new","listText":"Latest cool new","text":"Latest cool new","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158765208","repostId":"1193234138","repostType":4,"repost":{"id":"1193234138","kind":"news","pubTimestamp":1625182034,"share":"https://www.laohu8.com/m/news/1193234138?lang=zh_CN&edition=full","pubTime":"2021-07-02 07:27","market":"us","language":"en","title":"MKS Instruments to buy Atotech for $5.1 billion to expand chipmaking offerings<blockquote>MKS Instruments将以51亿美元收购安美特以扩大芯片制造产品</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1193234138","media":"Reuters","summary":"(Reuters) -Semiconductor equipment maker MKS Instruments Inc said on Thursday it will buy specialty ","content":"<p>(Reuters) -Semiconductor equipment maker MKS Instruments Inc said on Thursday it will buy specialty chemicals group Atotech Ltd for about $5.1 billion to expand its chip manufacturing capabilities.</p><p><blockquote>（路透社）-半导体设备制造商MKS Instruments Inc周四表示，将以约51亿美元收购特种化学品集团安美特有限公司，以扩大其芯片制造能力。</blockquote></p><p> The cash-and-stock deal includes $16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech share, or a per share value of about $26, according to Reuters calculations. MKS, which has a market capitalization of about $10 billion, will fund the acquisition through cash and debt financing.</p><p><blockquote>根据路透社的计算，这笔现金加股票交易包括每股安美特股票16.20美元现金和0.0552股MKS普通股，即每股价值约26美元。市值约100亿美元的MKS将通过现金和债务融资为此次收购提供资金。</blockquote></p><p> The offer represents a premium of about 10% to Atotech’s closing price on June 10, when Reuters reported MKS had approached Atotech with an acquisition offer.</p><p><blockquote>该报价较安美特6月10日的收盘价溢价约10%，当时路透社报道称MKS已向安美特提出收购要约。</blockquote></p><p> The deal comes at a time the chip industry has been dealing with a global shortage of semiconductors that has shuttered some auto production lines and its impact has been felt in other areas, including consumer electronics.</p><p><blockquote>这笔交易达成之际，芯片行业一直在应对全球半导体短缺问题，导致一些汽车生产线关闭，其影响也波及到了包括消费电子产品在内的其他领域。</blockquote></p><p> Atotech, backed by buyout firm Carlyle Group Inc, made its U.S. public market debut in February at $17 per share. The company makes chemicals and equipment for printed circuit boards and semiconductors that are used in smartphones, appliances and heavy machinery.</p><p><blockquote>安美特在收购公司凯雷集团(Carlyle Group Inc)的支持下，于2月份以每股17美元的价格在美国公开市场首次亮相。该公司生产用于智能手机、电器和重型机械的印刷电路板和半导体的化学品和设备。</blockquote></p><p> MKS approached Berlin-headquartered Atotech after it lost out to II-VI Inc in a bidding war for laser maker Coherent Inc in February.</p><p><blockquote>MKS在2月份对激光制造商Coherent Inc的竞购战中输给II-VI Inc后，与总部位于柏林的Atotech接洽。</blockquote></p><p> “We want to participate in all the profit pools for advanced electronics. Partnering with Atotech and having the scale is going to allow us being stronger in committing R&amp;D to our customers throughout downturns,” MKS Chief Executive John Lee said in an interview.</p><p><blockquote>MKS首席执行官John Lee在接受采访时表示：“我们希望参与先进电子产品的所有利润池。与安美特合作并拥有规模将使我们能够在经济低迷时期更有力地向客户投入研发。”</blockquote></p><p> The deal, expected to close by the fourth quarter of this year, will bring more recurring revenue streams and expand MKS’ offerings in chip manufacturing through the addition of Atotech’s plating chemicals, especially on rigid circuit boards that are widely used on smartphones, laptops and cars, according to MKS.</p><p><blockquote>该交易预计将于今年第四季度完成，将带来更多经常性收入来源，并通过添加安美特的电镀化学品扩大MKS在芯片制造领域的产品，特别是在广泛用于智能手机、笔记本电脑和汽车的刚性电路板上，据MKS称。</blockquote></p><p> Andover, Massachusetts-based MKS’ shares were down 3.7% at $171.35 on Thursday, while Atotech was down 1.45%.</p><p><blockquote>总部位于马萨诸塞州安多弗的MKS股价周四下跌3.7%，至171.35美元，而安美特股价下跌1.45%。</blockquote></p><p> Perella Weinberg Partners acted as MKS’ financial adviser, while Credit Suisse was Atotech’s financial adviser.</p><p><blockquote>Perella Weinberg Partners担任MKS的财务顾问，瑞士瑞信银行担任安美特的财务顾问。</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>MKS Instruments to buy Atotech for $5.1 billion to expand chipmaking offerings<blockquote>MKS Instruments将以51亿美元收购安美特以扩大芯片制造产品</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\">\nMKS Instruments to buy Atotech for $5.1 billion to expand chipmaking offerings<blockquote>MKS Instruments将以51亿美元收购安美特以扩大芯片制造产品</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-02 07:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) -Semiconductor equipment maker MKS Instruments Inc said on Thursday it will buy specialty chemicals group Atotech Ltd for about $5.1 billion to expand its chip manufacturing capabilities.</p><p><blockquote>（路透社）-半导体设备制造商MKS Instruments Inc周四表示，将以约51亿美元收购特种化学品集团安美特有限公司，以扩大其芯片制造能力。</blockquote></p><p> The cash-and-stock deal includes $16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech share, or a per share value of about $26, according to Reuters calculations. MKS, which has a market capitalization of about $10 billion, will fund the acquisition through cash and debt financing.</p><p><blockquote>根据路透社的计算，这笔现金加股票交易包括每股安美特股票16.20美元现金和0.0552股MKS普通股，即每股价值约26美元。市值约100亿美元的MKS将通过现金和债务融资为此次收购提供资金。</blockquote></p><p> The offer represents a premium of about 10% to Atotech’s closing price on June 10, when Reuters reported MKS had approached Atotech with an acquisition offer.</p><p><blockquote>该报价较安美特6月10日的收盘价溢价约10%，当时路透社报道称MKS已向安美特提出收购要约。</blockquote></p><p> The deal comes at a time the chip industry has been dealing with a global shortage of semiconductors that has shuttered some auto production lines and its impact has been felt in other areas, including consumer electronics.</p><p><blockquote>这笔交易达成之际，芯片行业一直在应对全球半导体短缺问题，导致一些汽车生产线关闭，其影响也波及到了包括消费电子产品在内的其他领域。</blockquote></p><p> Atotech, backed by buyout firm Carlyle Group Inc, made its U.S. public market debut in February at $17 per share. The company makes chemicals and equipment for printed circuit boards and semiconductors that are used in smartphones, appliances and heavy machinery.</p><p><blockquote>安美特在收购公司凯雷集团(Carlyle Group Inc)的支持下，于2月份以每股17美元的价格在美国公开市场首次亮相。该公司生产用于智能手机、电器和重型机械的印刷电路板和半导体的化学品和设备。</blockquote></p><p> MKS approached Berlin-headquartered Atotech after it lost out to II-VI Inc in a bidding war for laser maker Coherent Inc in February.</p><p><blockquote>MKS在2月份对激光制造商Coherent Inc的竞购战中输给II-VI Inc后，与总部位于柏林的Atotech接洽。</blockquote></p><p> “We want to participate in all the profit pools for advanced electronics. Partnering with Atotech and having the scale is going to allow us being stronger in committing R&amp;D to our customers throughout downturns,” MKS Chief Executive John Lee said in an interview.</p><p><blockquote>MKS首席执行官John Lee在接受采访时表示：“我们希望参与先进电子产品的所有利润池。与安美特合作并拥有规模将使我们能够在经济低迷时期更有力地向客户投入研发。”</blockquote></p><p> The deal, expected to close by the fourth quarter of this year, will bring more recurring revenue streams and expand MKS’ offerings in chip manufacturing through the addition of Atotech’s plating chemicals, especially on rigid circuit boards that are widely used on smartphones, laptops and cars, according to MKS.</p><p><blockquote>该交易预计将于今年第四季度完成，将带来更多经常性收入来源，并通过添加安美特的电镀化学品扩大MKS在芯片制造领域的产品，特别是在广泛用于智能手机、笔记本电脑和汽车的刚性电路板上，据MKS称。</blockquote></p><p> Andover, Massachusetts-based MKS’ shares were down 3.7% at $171.35 on Thursday, while Atotech was down 1.45%.</p><p><blockquote>总部位于马萨诸塞州安多弗的MKS股价周四下跌3.7%，至171.35美元，而安美特股价下跌1.45%。</blockquote></p><p> Perella Weinberg Partners acted as MKS’ financial adviser, while Credit Suisse was Atotech’s financial adviser.</p><p><blockquote>Perella Weinberg Partners担任MKS的财务顾问，瑞士瑞信银行担任安美特的财务顾问。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/atotech-ma-mks-instruments/update-3-mks-instruments-to-buy-atotech-for-5-1-bln-to-expand-chipmaking-offerings-idUSL3N2OD2SF\">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":{"MKSI":"MKS仪器"},"source_url":"https://www.reuters.com/article/atotech-ma-mks-instruments/update-3-mks-instruments-to-buy-atotech-for-5-1-bln-to-expand-chipmaking-offerings-idUSL3N2OD2SF","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193234138","content_text":"(Reuters) -Semiconductor equipment maker MKS Instruments Inc said on Thursday it will buy specialty chemicals group Atotech Ltd for about $5.1 billion to expand its chip manufacturing capabilities.\nThe cash-and-stock deal includes $16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech share, or a per share value of about $26, according to Reuters calculations. MKS, which has a market capitalization of about $10 billion, will fund the acquisition through cash and debt financing.\nThe offer represents a premium of about 10% to Atotech’s closing price on June 10, when Reuters reported MKS had approached Atotech with an acquisition offer.\nThe deal comes at a time the chip industry has been dealing with a global shortage of semiconductors that has shuttered some auto production lines and its impact has been felt in other areas, including consumer electronics.\nAtotech, backed by buyout firm Carlyle Group Inc, made its U.S. public market debut in February at $17 per share. The company makes chemicals and equipment for printed circuit boards and semiconductors that are used in smartphones, appliances and heavy machinery.\nMKS approached Berlin-headquartered Atotech after it lost out to II-VI Inc in a bidding war for laser maker Coherent Inc in February.\n“We want to participate in all the profit pools for advanced electronics. Partnering with Atotech and having the scale is going to allow us being stronger in committing R&D to our customers throughout downturns,” MKS Chief Executive John Lee said in an interview.\nThe deal, expected to close by the fourth quarter of this year, will bring more recurring revenue streams and expand MKS’ offerings in chip manufacturing through the addition of Atotech’s plating chemicals, especially on rigid circuit boards that are widely used on smartphones, laptops and cars, according to MKS.\nAndover, Massachusetts-based MKS’ shares were down 3.7% at $171.35 on Thursday, while Atotech was down 1.45%.\nPerella Weinberg Partners acted as MKS’ financial adviser, while Credit Suisse was Atotech’s financial adviser.","news_type":1,"symbols_score_info":{"MKSI":0.9}},"isVote":1,"tweetType":1,"viewCount":2742,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894139209,"gmtCreate":1628810613501,"gmtModify":1631890545415,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Go up…","listText":"Go up…","text":"Go up…","images":[{"img":"https://static.tigerbbs.com/70fed4107c1dd5122b2a54e100d77fb2","width":"1125","height":"2332"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894139209","isVote":1,"tweetType":1,"viewCount":1325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":179502054,"gmtCreate":1626554613578,"gmtModify":1631890545425,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Buy now?","listText":"Buy now?","text":"Buy now?","images":[{"img":"https://static.tigerbbs.com/ab72e48e2b3bc7e201bb81f9ad1b4d3d","width":"1125","height":"2515"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179502054","isVote":1,"tweetType":1,"viewCount":1178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":151015917,"gmtCreate":1625057319739,"gmtModify":1631890545494,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Interesting example","listText":"Interesting example","text":"Interesting example","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151015917","repostId":"1142269235","repostType":4,"repost":{"id":"1142269235","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1625039703,"share":"https://www.laohu8.com/m/news/1142269235?lang=zh_CN&edition=full","pubTime":"2021-06-30 15:55","market":"us","language":"en","title":"Coinbase CEO Gives Apple's Example As He Calls For Building The 'Crypto App Store'<blockquote>Coinbase首席执行官在评级建立“加密应用商店”时以苹果为例</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142269235","media":"Benzinga","summary":"Coinbase Global Inc(NASDAQ:COIN) CEO Brian Armstrong, in a blog post on Tuesday, called for the buil","content":"<p><b>Coinbase Global Inc</b>(NASDAQ:COIN) CEO Brian Armstrong,&nbsp;in a blog post on Tuesday, called for the building of the “crypto app store” similar to the one created by&nbsp;<b>Apple Inc</b>(NASDAQ:AAPL).</p><p><blockquote><b>比特币基地全球公司</b>（纳斯达克：COIN）首席执行官Brian Armstrong在周二的一篇博客文章中呼吁建立类似于<b>苹果公司</b>（纳斯达克：AAPL）。</blockquote></p><p> <b>What Happened:</b>Armstrong noted that the cryptocurrency use cases have grown, citing the examples of non-fungible tokens or NFTs and Decentralized Applications of DApps.</p><p><blockquote><b>发生了什么：</b>阿姆斯特朗指出，加密货币用例已经增长，并列举了不可替代代币或NFT以及dApp去中心化应用的例子。</blockquote></p><p> Calling for a store similar to the App Store, he wrote, “We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on dApps, and a new trend coming out every three months.”</p><p><blockquote>他呼吁建立一个类似于App Store的商店，他写道，“我们需要在加密领域做同样的事情。现在有数百亿美元的经济活动在dApp上运行，每三个月就会出现一个新趋势。”</blockquote></p><p> “We’ll work to give our users easy access to all of this from the main Coinbase product.”</p><p><blockquote>“我们将努力让用户从Coinbase的主要产品中轻松访问所有这些。”</blockquote></p><p> <b>Why It Matters:</b>Armstrong noted that Apple did not attempt to build “every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.”</p><p><blockquote><b>为什么重要：</b>Armstrong指出，苹果并没有试图为“iPhone构建每一个应用程序，它赋予了开发者权力，并为移动用户提供了一种访问新的创新应用程序的简单方法。”</blockquote></p><p> According to Apple’s website, Apple has 1.8 million apps available on its store with 175 storefronts in over 40 languages.</p><p><blockquote>根据苹果的网站，苹果的商店有180万个应用程序，有175个店面，使用40多种语言。</blockquote></p><p> The Coinbase CEO seems to have taken a cue from Apple as he also advocated an “international-first mindset.”</p><p><blockquote>Coinbase首席执行官似乎受到了苹果的启发，他也提倡“国际优先的心态”。</blockquote></p><p> Armstrong said instead of focusing on a “narrow set of regions,” Coinbase is “going to flip this approach on its head by shipping more products in international markets on day one.”</p><p><blockquote>阿姆斯特朗表示，Coinbase不会专注于“狭窄的地区”，而是“将通过在第一天就在国际市场上运送更多产品来颠覆这种方法。”</blockquote></p><p> However, Apple’s App Store policies have also attracted the&nbsp;attention of regulators&nbsp;with Germany’s competition watchdog being the latest to bring the store under scrutiny.</p><p><blockquote>然而，苹果的应用商店政策也引起了监管机构的关注，德国竞争监管机构是最新一个对该商店进行审查的机构。</blockquote></p><p> <b>Price Action:</b>On Tuesday, Coinbase shares closed 3.33% higher at $254.90 in the regular session and fell 0.2% in the after-hours trading. On the same day, Apple shares rose 1.15% in the regular session to $136.33.</p><p><blockquote><b>价格走势：</b>周二，Coinbase股价在常规交易中收盘上涨3.33%，至254.90美元，在盘后交易中下跌0.2%。当天，苹果股价在常规交易中上涨1.15%，至136.33美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase CEO Gives Apple's Example As He Calls For Building The 'Crypto App Store'<blockquote>Coinbase首席执行官在评级建立“加密应用商店”时以苹果为例</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\">\nCoinbase CEO Gives Apple's Example As He Calls For Building The 'Crypto App Store'<blockquote>Coinbase首席执行官在评级建立“加密应用商店”时以苹果为例</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\">2021-06-30 15:55</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Coinbase Global Inc</b>(NASDAQ:COIN) CEO Brian Armstrong,&nbsp;in a blog post on Tuesday, called for the building of the “crypto app store” similar to the one created by&nbsp;<b>Apple Inc</b>(NASDAQ:AAPL).</p><p><blockquote><b>比特币基地全球公司</b>（纳斯达克：COIN）首席执行官Brian Armstrong在周二的一篇博客文章中呼吁建立类似于<b>苹果公司</b>（纳斯达克：AAPL）。</blockquote></p><p> <b>What Happened:</b>Armstrong noted that the cryptocurrency use cases have grown, citing the examples of non-fungible tokens or NFTs and Decentralized Applications of DApps.</p><p><blockquote><b>发生了什么：</b>阿姆斯特朗指出，加密货币用例已经增长，并列举了不可替代代币或NFT以及dApp去中心化应用的例子。</blockquote></p><p> Calling for a store similar to the App Store, he wrote, “We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on dApps, and a new trend coming out every three months.”</p><p><blockquote>他呼吁建立一个类似于App Store的商店，他写道，“我们需要在加密领域做同样的事情。现在有数百亿美元的经济活动在dApp上运行，每三个月就会出现一个新趋势。”</blockquote></p><p> “We’ll work to give our users easy access to all of this from the main Coinbase product.”</p><p><blockquote>“我们将努力让用户从Coinbase的主要产品中轻松访问所有这些。”</blockquote></p><p> <b>Why It Matters:</b>Armstrong noted that Apple did not attempt to build “every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.”</p><p><blockquote><b>为什么重要：</b>Armstrong指出，苹果并没有试图为“iPhone构建每一个应用程序，它赋予了开发者权力，并为移动用户提供了一种访问新的创新应用程序的简单方法。”</blockquote></p><p> According to Apple’s website, Apple has 1.8 million apps available on its store with 175 storefronts in over 40 languages.</p><p><blockquote>根据苹果的网站，苹果的商店有180万个应用程序，有175个店面，使用40多种语言。</blockquote></p><p> The Coinbase CEO seems to have taken a cue from Apple as he also advocated an “international-first mindset.”</p><p><blockquote>Coinbase首席执行官似乎受到了苹果的启发，他也提倡“国际优先的心态”。</blockquote></p><p> Armstrong said instead of focusing on a “narrow set of regions,” Coinbase is “going to flip this approach on its head by shipping more products in international markets on day one.”</p><p><blockquote>阿姆斯特朗表示，Coinbase不会专注于“狭窄的地区”，而是“将通过在第一天就在国际市场上运送更多产品来颠覆这种方法。”</blockquote></p><p> However, Apple’s App Store policies have also attracted the&nbsp;attention of regulators&nbsp;with Germany’s competition watchdog being the latest to bring the store under scrutiny.</p><p><blockquote>然而，苹果的应用商店政策也引起了监管机构的关注，德国竞争监管机构是最新一个对该商店进行审查的机构。</blockquote></p><p> <b>Price Action:</b>On Tuesday, Coinbase shares closed 3.33% higher at $254.90 in the regular session and fell 0.2% in the after-hours trading. On the same day, Apple shares rose 1.15% in the regular session to $136.33.</p><p><blockquote><b>价格走势：</b>周二，Coinbase股价在常规交易中收盘上涨3.33%，至254.90美元，在盘后交易中下跌0.2%。当天，苹果股价在常规交易中上涨1.15%，至136.33美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"比特币ETF-Grayscale","COIN":"Coinbase Global, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142269235","content_text":"Coinbase Global Inc(NASDAQ:COIN) CEO Brian Armstrong, in a blog post on Tuesday, called for the building of the “crypto app store” similar to the one created by Apple Inc(NASDAQ:AAPL).\nWhat Happened:Armstrong noted that the cryptocurrency use cases have grown, citing the examples of non-fungible tokens or NFTs and Decentralized Applications of DApps.\nCalling for a store similar to the App Store, he wrote, “We need to do the same in crypto. There is now 10s of billions of dollars of economic activity running on dApps, and a new trend coming out every three months.”\n“We’ll work to give our users easy access to all of this from the main Coinbase product.”\nWhy It Matters:Armstrong noted that Apple did not attempt to build “every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.”\nAccording to Apple’s website, Apple has 1.8 million apps available on its store with 175 storefronts in over 40 languages.\nThe Coinbase CEO seems to have taken a cue from Apple as he also advocated an “international-first mindset.”\nArmstrong said instead of focusing on a “narrow set of regions,” Coinbase is “going to flip this approach on its head by shipping more products in international markets on day one.”\nHowever, Apple’s App Store policies have also attracted the attention of regulators with Germany’s competition watchdog being the latest to bring the store under scrutiny.\nPrice Action:On Tuesday, Coinbase shares closed 3.33% higher at $254.90 in the regular session and fell 0.2% in the after-hours trading. On the same day, Apple shares rose 1.15% in the regular session to $136.33.","news_type":1,"symbols_score_info":{"BTCmain":0.9,"XBTmain":0.9,"MBTmain":0.9,"GBTC":0.9,"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":1320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151036782,"gmtCreate":1625056715046,"gmtModify":1631890545504,"author":{"id":"4088143116973830","authorId":"4088143116973830","name":"Ming28","avatar":"https://static.tigerbbs.com/5e2bf6eb06a649f2760e80e9d4788859","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088143116973830","idStr":"4088143116973830"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151036782","repostId":"1150186389","repostType":4,"isVote":1,"tweetType":1,"viewCount":1405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}