DenisL的个人主页 - 老虎社区

DenisL

DenisL

暂无个人介绍

IP属地：未知

23关注

33粉丝

0主题

0勋章

2021-11-09

$Rivian Automotive, Inc.(RIVN)$what do youthink

2021-11-06

$NIO 20211105 44.0 CALL(NIO)$That was close

2021-11-02

$Vuzix(VUZI)$Like yo-yo

2021-11-02

I am bullish on NIO

抱歉，原内容已删除

2021-11-02

But why?

CrowdStrike shares fell more than 4% in morning trading<blockquote>CrowdStrike 股价早盘下跌超过 4%</blockquote>

2021-11-02

$Tesla Motors(TSLA)$Can somebody stop the train

2021-11-02

$NIO Inc.(NIO)$What’s your thought

2021-10-29

$Amazon.com(AMZN)$Buying the dips

2021-10-29

$NIO 20211105 44.0 CALL(NIO)$Not so soon

2021-10-27

More dips

抱歉，原内容已删除

2021-10-27

$Facebook(FB)$Discounted blue chip

2021-10-27

$NVIDIA Corp(NVDA)$Way to go

2021-10-27

Metaverse will print Fb more than trillion. Fbis only the few companies which can make itright

抱歉，原内容已删除

2021-10-26

$NIO Inc.(NIO)$Finally

2021-10-25

$Tesla Motors(TSLA)$Holy moly

2021-10-25

$NIO Inc.(NIO)$Keeping cool

2021-10-22

$NIO Inc.(NIO)$Are you ever going to break the resistance

2021-10-22

$NIO 20211022 41.0 CALL(NIO)$Oh well

2021-10-20

$Ginkgo Bioworks Holdings Inc.(DNA)$Anyone know what’s happening to this stock? Any catalyst

2021-10-20

$NIO 20211022 41.0 CALL(NIO)$So close yet so far

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"4088158505984320","uuid":"4088158505984320","gmtCreate":1625062093013,"gmtModify":1627449744225,"name":"DenisL","pinyin":"denisl","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":33,"headSize":23,"tweetSize":292,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-3","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"偶像虎友","description":"加入老虎社区1500天","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.04.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"35ec162348d5460f88c959321e554969-1","templateUuid":"35ec162348d5460f88c959321e554969","name":"精英交易员","description":"证券或期货账户累计交易次数达到30次","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"60.88%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":844476204,"gmtCreate":1636456163306,"gmtModify":1636456163915,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/RIVN\">$Rivian Automotive, Inc.(RIVN)$</a>what do youthink&nbsp;","listText":"<a href=\"https://laohu8.com/S/RIVN\">$Rivian Automotive, Inc.(RIVN)$</a>what do youthink&nbsp;","text":"$Rivian Automotive, Inc.(RIVN)$what do youthink","images":[{"img":"https://static.tigerbbs.com/63a9aa23a80b3c21837d9d8790d49045","width":"1125","height":"3658"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/844476204","isVote":1,"tweetType":1,"viewCount":3401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":842345517,"gmtCreate":1636150036669,"gmtModify":1636150037245,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20211105 44.0 CALL(NIO)$</a>That was close&nbsp;","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20211105 44.0 CALL(NIO)$</a>That was close&nbsp;","text":"$NIO 20211105 44.0 CALL(NIO)$That was close","images":[{"img":"https://static.tigerbbs.com/fb049e76a3443cca5533d17e7e4f88e9","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/842345517","isVote":1,"tweetType":1,"viewCount":4115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":841073143,"gmtCreate":1635865535478,"gmtModify":1635865535651,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/VUZI\">$Vuzix(VUZI)$</a>Like yo-yo&nbsp;","listText":"<a href=\"https://laohu8.com/S/VUZI\">$Vuzix(VUZI)$</a>Like yo-yo&nbsp;","text":"$Vuzix(VUZI)$Like yo-yo","images":[{"img":"https://static.tigerbbs.com/3c67d27f4fe99ec990a311c83b217c4c","width":"1125","height":"3838"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841073143","isVote":1,"tweetType":1,"viewCount":3337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":843135061,"gmtCreate":1635812174966,"gmtModify":1635812175178,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"I am bullish on NIO","listText":"I am bullish on NIO","text":"I am bullish on NIO","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/843135061","repostId":"2179221955","repostType":4,"isVote":1,"tweetType":1,"viewCount":5011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":843087135,"gmtCreate":1635782718442,"gmtModify":1635782733725,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"But why?","listText":"But why?","text":"But why?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/843087135","repostId":"1128690730","repostType":4,"repost":{"id":"1128690730","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1635779406,"share":"https://www.laohunote.com/m/news/1128690730?lang=zh_CN&edition=full","pubTime":"2021-11-01 23:10","market":"us","language":"en","title":"CrowdStrike shares fell more than 4% in morning trading<blockquote>CrowdStrike 股价早盘下跌超过 4%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128690730","media":"Tiger Newspress","summary":"CrowdStrike shares fell more than 4% in morning trading after a BTIG analyst downgraded the cybersec","content":"<p>CrowdStrike shares fell more than 4% in morning trading&nbsp;after a BTIG analyst downgraded the&nbsp;cybersecurity company to neutral from buy.</p><p><blockquote>BTIG 分析师将网络安全公司 CrowdStrike 的评级从买入下调至中性后，其股价在早盘交易中下跌超过 4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b742bc414d1b43b14c003eac9ad8d58f\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Analyst Gray Powell, who downgraded CrowdStrike without a price target, said in a research note that his channel checks indicate that competition \"is on the rise\" and that tailwinds to CrowdStrike's growth in 2022 will ease from 2021, according to the Fly.</p><p><blockquote>据 the Fly 报道，分析师 Gray Powell 在没有设定价格目标的情况下下调了 CrowdStrike 的评级，他在一份研究报告中表示，他的渠道检查表明竞争“正在加剧”，CrowdStrike 2022 年增长的推动力将从 2021 年开始减弱。</blockquote></p><p> As such,&nbsp;Powell&nbsp;said the company's growth in annual recurring revenue will likely moderate into the 40% to 45% range in a fiscal 2023 \"upside scenario.\"</p><p><blockquote>因此，鲍威尔表示，在 2023 财年“上行情景”下，该公司年度经常性收入的增长可能会放缓至 40% 至 45% 的范围。</blockquote></p><p> The analyst said this means that investors \"will be faced with the difficult task of gauging the slope of a deceleration and sustainable long-term growth rates over the next 6 to 12 months.\"</p><p><blockquote>这位分析师表示，这意味着投资者“将面临衡量未来 6 至 12 个月减速斜率和可持续长期增长率的艰巨任务”。</blockquote></p><p> Last week, CrowdStrike's shares rose after the company&nbsp;unveiled new features to the CrowdStrike Falcon platform, which works with services from&nbsp;Amazon&nbsp;Web Services.</p><p><blockquote>上周，CrowdStrike 推出了 CrowdStrike Falcon 平台的新功能，该平台可与亚马逊网络服务的服务配合使用，随后该公司股价上涨。</blockquote></p><p> The expanded features provide joint customers with comprehensive visibility, dynamic scale, automation and flexibility to better prevent, detect and respond to threats in the cloud and across endpoints, the company said.</p><p><blockquote>该公司表示，扩展的功能为联合客户提供了全面的可见性、动态规模、自动化和灵活性，以更好地预防、检测和响应云中和跨端点的威胁。</blockquote></p><p> In September, several analysts&nbsp;raised their price targets&nbsp;for CrowdStrike after the company beat Wall Street's second-quarter-earnings expectations.</p><p><blockquote>9 月份，在 CrowdStrike 第二季度盈利超出华尔街预期后，几位分析师提高了该公司的目标价。</blockquote></p><p> CrowdStrike&nbsp;reported earnings of 11 cents a share, beating the FactSet consensus of 9 cents a share. Revenue totaled $337.7 million, up 70% from a year earlier. Analysts were looking for $323.2 million.</p><p><blockquote>CrowdStrike 公布的每股收益为 11 美分，超过了 FactSet 普遍预期的每股 9 美分。收入总计 3.377 亿美元，同比增长 70%。分析师正在寻找 3.232 亿美元。</blockquote></p><p> The company also raised its revenue guidance for the year to a range of $1.39 billion to $1.4 billion.</p><p><blockquote>该公司还将今年的收入指引上调至 13.9 亿美元至 14 亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CrowdStrike shares fell more than 4% in morning trading<blockquote>CrowdStrike 股价早盘下跌超过 4%</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\">\nCrowdStrike shares fell more than 4% in morning trading<blockquote>CrowdStrike 股价早盘下跌超过 4%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-01 23:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>CrowdStrike shares fell more than 4% in morning trading&nbsp;after a BTIG analyst downgraded the&nbsp;cybersecurity company to neutral from buy.</p><p><blockquote>BTIG 分析师将网络安全公司 CrowdStrike 的评级从买入下调至中性后，其股价在早盘交易中下跌超过 4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b742bc414d1b43b14c003eac9ad8d58f\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Analyst Gray Powell, who downgraded CrowdStrike without a price target, said in a research note that his channel checks indicate that competition \"is on the rise\" and that tailwinds to CrowdStrike's growth in 2022 will ease from 2021, according to the Fly.</p><p><blockquote>据 the Fly 报道，分析师 Gray Powell 在没有设定价格目标的情况下下调了 CrowdStrike 的评级，他在一份研究报告中表示，他的渠道检查表明竞争“正在加剧”，CrowdStrike 2022 年增长的推动力将从 2021 年开始减弱。</blockquote></p><p> As such,&nbsp;Powell&nbsp;said the company's growth in annual recurring revenue will likely moderate into the 40% to 45% range in a fiscal 2023 \"upside scenario.\"</p><p><blockquote>因此，鲍威尔表示，在 2023 财年“上行情景”下，该公司年度经常性收入的增长可能会放缓至 40% 至 45% 的范围。</blockquote></p><p> The analyst said this means that investors \"will be faced with the difficult task of gauging the slope of a deceleration and sustainable long-term growth rates over the next 6 to 12 months.\"</p><p><blockquote>这位分析师表示，这意味着投资者“将面临衡量未来 6 至 12 个月减速斜率和可持续长期增长率的艰巨任务”。</blockquote></p><p> Last week, CrowdStrike's shares rose after the company&nbsp;unveiled new features to the CrowdStrike Falcon platform, which works with services from&nbsp;Amazon&nbsp;Web Services.</p><p><blockquote>上周，CrowdStrike 推出了 CrowdStrike Falcon 平台的新功能，该平台可与亚马逊网络服务的服务配合使用，随后该公司股价上涨。</blockquote></p><p> The expanded features provide joint customers with comprehensive visibility, dynamic scale, automation and flexibility to better prevent, detect and respond to threats in the cloud and across endpoints, the company said.</p><p><blockquote>该公司表示，扩展的功能为联合客户提供了全面的可见性、动态规模、自动化和灵活性，以更好地预防、检测和响应云中和跨端点的威胁。</blockquote></p><p> In September, several analysts&nbsp;raised their price targets&nbsp;for CrowdStrike after the company beat Wall Street's second-quarter-earnings expectations.</p><p><blockquote>9 月份，在 CrowdStrike 第二季度盈利超出华尔街预期后，几位分析师提高了该公司的目标价。</blockquote></p><p> CrowdStrike&nbsp;reported earnings of 11 cents a share, beating the FactSet consensus of 9 cents a share. Revenue totaled $337.7 million, up 70% from a year earlier. Analysts were looking for $323.2 million.</p><p><blockquote>CrowdStrike 公布的每股收益为 11 美分，超过了 FactSet 普遍预期的每股 9 美分。收入总计 3.377 亿美元，同比增长 70%。分析师正在寻找 3.232 亿美元。</blockquote></p><p> The company also raised its revenue guidance for the year to a range of $1.39 billion to $1.4 billion.</p><p><blockquote>该公司还将今年的收入指引上调至 13.9 亿美元至 14 亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRWD":"CrowdStrike Holdings, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128690730","content_text":"CrowdStrike shares fell more than 4% in morning trading after a BTIG analyst downgraded the cybersecurity company to neutral from buy.\n\nAnalyst Gray Powell, who downgraded CrowdStrike without a price target, said in a research note that his channel checks indicate that competition \"is on the rise\" and that tailwinds to CrowdStrike's growth in 2022 will ease from 2021, according to the Fly.\nAs such, Powell said the company's growth in annual recurring revenue will likely moderate into the 40% to 45% range in a fiscal 2023 \"upside scenario.\"\nThe analyst said this means that investors \"will be faced with the difficult task of gauging the slope of a deceleration and sustainable long-term growth rates over the next 6 to 12 months.\"\nLast week, CrowdStrike's shares rose after the company unveiled new features to the CrowdStrike Falcon platform, which works with services from Amazon Web Services.\nThe expanded features provide joint customers with comprehensive visibility, dynamic scale, automation and flexibility to better prevent, detect and respond to threats in the cloud and across endpoints, the company said.\nIn September, several analysts raised their price targets for CrowdStrike after the company beat Wall Street's second-quarter-earnings expectations.\nCrowdStrike reported earnings of 11 cents a share, beating the FactSet consensus of 9 cents a share. Revenue totaled $337.7 million, up 70% from a year earlier. Analysts were looking for $323.2 million.\nThe company also raised its revenue guidance for the year to a range of $1.39 billion to $1.4 billion.","news_type":1,"symbols_score_info":{"CRWD":0.9}},"isVote":1,"tweetType":1,"viewCount":3711,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":843084008,"gmtCreate":1635782678979,"gmtModify":1635782679231,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Can somebody stop the train&nbsp;","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Can somebody stop the train&nbsp;","text":"$Tesla Motors(TSLA)$Can somebody stop the train","images":[{"img":"https://static.tigerbbs.com/22bdbdc17fbe5883d287d96a88f79f8a","width":"1125","height":"3748"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/843084008","isVote":1,"tweetType":1,"viewCount":4451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":843085453,"gmtCreate":1635782625539,"gmtModify":1635782625755,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>What’s your thought&nbsp;","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>What’s your thought&nbsp;","text":"$NIO Inc.(NIO)$What’s your thought","images":[{"img":"https://static.tigerbbs.com/c8012feb2559719a23f671d9b0150e59","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":1,"link":"https://laohu8.com/post/843085453","isVote":1,"tweetType":1,"viewCount":4749,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":854232938,"gmtCreate":1635461901202,"gmtModify":1635461901846,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/AMZN\">$Amazon.com(AMZN)$</a>Buying the dips&nbsp;","listText":"<a href=\"https://laohu8.com/S/AMZN\">$Amazon.com(AMZN)$</a>Buying the dips&nbsp;","text":"$Amazon.com(AMZN)$Buying the dips","images":[{"img":"https://static.tigerbbs.com/6a4723173df0712841b936d69fdc747c","width":"1125","height":"3853"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/854232938","isVote":1,"tweetType":1,"viewCount":3570,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":854238241,"gmtCreate":1635461838017,"gmtModify":1635461838624,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20211105 44.0 CALL(NIO)$</a>Not so soon&nbsp;","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20211105 44.0 CALL(NIO)$</a>Not so soon&nbsp;","text":"$NIO 20211105 44.0 CALL(NIO)$Not so soon","images":[{"img":"https://static.tigerbbs.com/4db61b464cd70effad39378cfd1ffde2","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/854238241","isVote":1,"tweetType":1,"viewCount":4445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":855311286,"gmtCreate":1635335631125,"gmtModify":1635335631312,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"More dips&nbsp;","listText":"More dips&nbsp;","text":"More dips","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/855311286","repostId":"2178128766","repostType":2,"isVote":1,"tweetType":1,"viewCount":3815,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":852268104,"gmtCreate":1635284003712,"gmtModify":1635284004373,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/FB\">$Facebook(FB)$</a>Discounted blue chip&nbsp;","listText":"<a href=\"https://laohu8.com/S/FB\">$Facebook(FB)$</a>Discounted blue chip&nbsp;","text":"$Facebook(FB)$Discounted blue chip","images":[{"img":"https://static.tigerbbs.com/1d7000054041b135098e8733e5d3ea7c","width":"1125","height":"4033"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/852268104","isVote":1,"tweetType":1,"viewCount":1356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":852268327,"gmtCreate":1635283918636,"gmtModify":1635283919233,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NVDA\">$NVIDIA Corp(NVDA)$</a>Way to go&nbsp;","listText":"<a href=\"https://laohu8.com/S/NVDA\">$NVIDIA Corp(NVDA)$</a>Way to go&nbsp;","text":"$NVIDIA Corp(NVDA)$Way to go","images":[{"img":"https://static.tigerbbs.com/84565c3ed7b8d9fd163a61ce32d3479d","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/852268327","isVote":1,"tweetType":1,"viewCount":1225,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":852261109,"gmtCreate":1635283787190,"gmtModify":1635283787742,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"Metaverse will print Fb more than trillion. Fbis only the few companies which can make itright&nbsp;","listText":"Metaverse will print Fb more than trillion. Fbis only the few companies which can make itright&nbsp;","text":"Metaverse will print Fb more than trillion. Fbis only the few companies which can make itright","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/852261109","repostId":"2178721405","repostType":4,"isVote":1,"tweetType":1,"viewCount":1152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":856594042,"gmtCreate":1635200977531,"gmtModify":1635200978203,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>Finally&nbsp;","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>Finally&nbsp;","text":"$NIO Inc.(NIO)$Finally","images":[{"img":"https://static.tigerbbs.com/e17a003163aee3e9684eb55b3b8f5314","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/856594042","isVote":1,"tweetType":1,"viewCount":1578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":856859257,"gmtCreate":1635169962716,"gmtModify":1635169963339,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Holy moly&nbsp;","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Holy moly&nbsp;","text":"$Tesla Motors(TSLA)$Holy moly","images":[{"img":"https://static.tigerbbs.com/e58044c5bb85c5b87ed4f76a718f3c60","width":"1125","height":"3748"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/856859257","isVote":1,"tweetType":1,"viewCount":1319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":856859085,"gmtCreate":1635169938832,"gmtModify":1635169939492,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>Keeping cool&nbsp;","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>Keeping cool&nbsp;","text":"$NIO Inc.(NIO)$Keeping cool","images":[{"img":"https://static.tigerbbs.com/9e17b71c5d6f25ab528858087b4efc1c","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/856859085","isVote":1,"tweetType":1,"viewCount":849,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":851585960,"gmtCreate":1634914716861,"gmtModify":1634914717503,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>Are you ever going to break the resistance&nbsp;","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>Are you ever going to break the resistance&nbsp;","text":"$NIO Inc.(NIO)$Are you ever going to break the resistance","images":[{"img":"https://static.tigerbbs.com/ff16af8828f7de6db03d294335d62a17","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851585960","isVote":1,"tweetType":1,"viewCount":1366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":851582508,"gmtCreate":1634914687488,"gmtModify":1634914691094,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20211022 41.0 CALL(NIO)$</a>Oh well&nbsp;","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20211022 41.0 CALL(NIO)$</a>Oh well&nbsp;","text":"$NIO 20211022 41.0 CALL(NIO)$Oh well","images":[{"img":"https://static.tigerbbs.com/69cca4ec8ca5e2012d5433b778f1cd16","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/851582508","isVote":1,"tweetType":1,"viewCount":1308,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":859781079,"gmtCreate":1634735369384,"gmtModify":1634735370087,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/DNA\">$Ginkgo Bioworks Holdings Inc.(DNA)$</a>Anyone know what’s happening to this stock? Any catalyst&nbsp;","listText":"<a href=\"https://laohu8.com/S/DNA\">$Ginkgo Bioworks Holdings Inc.(DNA)$</a>Anyone know what’s happening to this stock? Any catalyst&nbsp;","text":"$Ginkgo Bioworks Holdings Inc.(DNA)$Anyone know what’s happening to this stock? Any catalyst","images":[{"img":"https://static.tigerbbs.com/137180ee38659c882ff098276aaa5a1b","width":"1125","height":"4123"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/859781079","isVote":1,"tweetType":1,"viewCount":1421,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":859783610,"gmtCreate":1634735329956,"gmtModify":1634735330595,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20211022 41.0 CALL(NIO)$</a>So close yet so far","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20211022 41.0 CALL(NIO)$</a>So close yet so far","text":"$NIO 20211022 41.0 CALL(NIO)$So close yet so far","images":[{"img":"https://static.tigerbbs.com/255a88e60d046c01fa48dce75646ad5d","width":"1125","height":"2196"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/859783610","isVote":1,"tweetType":1,"viewCount":1860,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"hots":[{"id":880950057,"gmtCreate":1631012749679,"gmtModify":1631893882951,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"Time in market&nbsp;better than timing the market&nbsp;","listText":"Time in market&nbsp;better than timing the market&nbsp;","text":"Time in market better than timing the market","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/880950057","repostId":"1130130857","repostType":4,"repost":{"id":"1130130857","kind":"news","pubTimestamp":1631007146,"share":"https://www.laohunote.com/m/news/1130130857?lang=zh_CN&edition=full","pubTime":"2021-09-07 17:32","market":"us","language":"en","title":"Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130130857","media":"Barron's","summary":"What a year this has been for the markets!Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and  a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnin","content":"<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&amp;P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.</p><p><blockquote>对于市场来说，这是多么美好的一年啊!在货币和财政刺激、经济和盈利增长以及（直到最近）疫情基本消退的推动下，标准普尔 500 指数上涨了 20%，连续七个月上涨，并一路创下 50 多个新高。此外，去年市场从 2020 年 3 月的低点反弹了 68%。</blockquote></p><p> Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.</p><p><blockquote>顺风依然存在，但逆风现在迫在眉睫，可能会减缓股市的上涨速度。刺激支出已见顶，经济和企业盈利增长可能会在今年年底放缓。更重要的是，美联储几乎承诺在未来几个月开始缩减债券购买规模，拜登政府也提议提高企业和个人税率。对于越来越昂贵的股票持有者来说，这些都不太可能满意。</blockquote></p><p> In other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”</p><p><blockquote>换句话说，做好准备迎接波动性下跌，这相互矛盾地推动巴菲特股票、债券和投资者。“Nuveen 全球股票首席投资官赛拉-马利克（Saira Malik）说：”万物反弹已经过去。“这不会是一股急剧上涨的经济潮流，让所有船只都离开这里”。</blockquote></p><p> That’s the general consensus among the six market strategists and chief investment officers whom<i>Barron’s</i>recently consulted. All see the S&amp;P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.</p><p><blockquote>这是六位市场策略师和首席投资官的普遍共识。<i>巴伦</i>最近咨询过。所有人都看到标普500在周四收盘价 4536 点附近收盘。他们的平均目标：4585。</blockquote></p><p> Next year’s gains look muted, as well, relative to recent trends. The group expects the S&amp;P 500 to tack on another 6% in 2022, rising to about 4800.</p><p><blockquote>与最近的趋势相比，明年的涨幅也显得微不足道。该集团预计 2022 年标普500将再增长 6%，升至 4,800 左右。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eb61c7b74b9b0f18a019afb4ac44ad59\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">With stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.</p><p><blockquote>由于股票交易价格约为来年预期收益的 21 倍，债券收益率很低，现金收益率在考虑通货膨胀因素后几乎为零，投资者面临着艰难的资产配置决策。我们的市场观察家建议关注 “优质 ”投资，而不是提振快速增长的科技股、停滞不前的备忘录股和数字世界的狗狗币。在股票中，这意味着拥有稳健的资产负债表、不断扩大的利润率以及充足且经常性的自由现金流的企业股票。即使未来几个月平均指数表现不佳，这些股票也可能会大放异彩。</blockquote></p><p> The stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.</p><p><blockquote>过去一年股市的大幅反弹是美联储的一份礼物，美联储向金融体系注入了大量资金，以避免 Covid 大流行病造成的经济损失。自2020年3月以来，美国央行每月购买总计1200亿美元的美国国债和抵押贷款支持证券，同时将基准联邦基金利率目标维持在0%至0.25%。这些举措压低了债券收益率，并将投资者推向包括股票在内的风险更高的资产。</blockquote></p><p> Fed Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”</p><p><blockquote>美联储主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>曾表示，央行可能会在未来几个季度的某个时候开始逐步减少或缩减紧急资产购买规模，此举可能会动摇各种风险资产。“摩根士丹利（atMorgan Stanley）首席投资官兼首席美国股票策略师迈克-威尔逊（Mike Wilson）说：”对我们来说，这很简单：缩减规模就是收紧规模。“这是（美联储）远离最大限度宽松的第一步。他们这次对此非常精打细算，但底线是这应该会对股票估值产生负面影响。”</blockquote></p><p> The government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.</p><p><blockquote>战略家们指出，政府的刺激支出也达到了顶峰。每周 300 美元的补充联邦失业救济金将于 9 月 6 日到期。尽管国会似乎可能会在今年秋天通过一项两党基础设施法案，但与2020年3月以来推出的多轮刺激计划相比，近期经济影响将相形见绌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c2cb76c498c1c4c980139e3d0514c261\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">The bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.</p><p><blockquote>该法案包括约 5500 亿美元的新支出——只是之前法律授权的万亿美元的一小部分——并且将分摊多年。基础设施刺激措施将在短期内对占美国国内生产总值增长近 70% 的消费支出的提振作用，远不及去年数百万美国人收到政府支票后的经济状况。</blockquote></p><p> A budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.</p><p><blockquote>民主党批准的预算法案只应遵循基础设施法案，并包括支持医疗保险扩张、儿童保育资金、免费社区大学学费、公共住房和气候相关措施的支出，以及其他政党优先事项。国会可能会投票提高对企业和高收入个人的税收，以抵消这笔支出——这是市场面临的另一个近期风险。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/6693da658db16059fc99e08a7531675f\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">Other politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a <a href=\"https://laohu8.com/S/WASH\">Washington</a> shutdown in October.</p><p><blockquote>今年秋天，其他充满政治色彩的问题同样可能导致股市脱轨。国会需要通过提高债务上限来为政府提供资金，并在本月晚些时候通过一项权宜之计支出法案，以避免<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>十月关闭。</blockquote></p><p> For now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.</p><p><blockquote>目前，我们的市场专家对新冠肺炎德尔塔变异毒株的经济影响相对乐观。他们说，只要疫苗在最大限度地减少导致住院和死亡的严重感染方面仍然有效，当前Covid浪潮的负面影响将主要局限于旅游业和电影院。华尔街对市场的基本看法并不包括新一波会破坏经济增长的封锁。</blockquote></p><p> Inflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.</p><p><blockquote>通货膨胀一直是美联储和投资者的热门话题，部分原因是最近通货膨胀一直非常火爆。美国消费者价格指数在 6 月和 7 月均以年化 5.4% 的速度上涨--美联储的评级是暂时的，尽管其他人并不确定。战略家们站在鲍威尔一边；他们预计明年通货膨胀率将大幅下降。他们的预测降幅在 2.5% 至 3.5% 之间，他们认为这对消费者和企业来说是可控的，也是经济快速增长的可接受的副作用。然而，高于 2.5% 的通胀率，加上美联储缩减规模，意味着现在超低的债券收益率应该会上升。</blockquote></p><p> “We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”</p><p><blockquote>“贝莱德多资产策略集团（BlackRockMulti-Asset Strategies Group）收入投资主管迈克尔-弗雷德里克斯（Michael Fredericks）说：”我们认为通胀将继续高于金融危机以来的水平，但一旦许多与重新开放相关的压力开始消散，我们就很难看到通胀率远高于2.5%。“因此，债券收益率确实需要上升，但这将是逐步发生的。”</blockquote></p><p> The strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for&nbsp;the bond market—and could be even more so for stocks.</p><p><blockquote>策略师预计，到年底，10年期美国国债收益率将攀升至1.65%左右。这比目前的水平高出约 35 个基点，即百分之一个百分点，但低于 2021 年 3 月高点时达到的 1.75%。该组织表示，到明年，10 年期国债收益率可能达到 2%。从绝对值来看，这些举措并不算大，但对债券市场来说意义重大，对股市来说意义更大。</blockquote></p><p> Rising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&amp;P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.</p><p><blockquote>收益率上升往往会给股票估值带来压力，原因有二。收益率较高的债券会给股票带来竞争，如果按较高的利率贴现，公司未来的收益在目前就毫无价值。尽管如此，2% 左右的 10 年期国债收益率仍不足以将股票估值降至 Covid 之前的水平。即使收益率攀升，市场策略师也认为标普500持有的市盈率远高于其 30 年平均水平 16 倍远期市盈率。去年秋天，该指数的远期市盈率突破了 23。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08d24cb421d7cc13debd76a9c6fea01\" tg-width=\"660\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As long as 10-year Treasury yields stay in the 2% range, the S&amp;P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.</p><p><blockquote>策略师表示，只要 10 年期国债收益率保持在 2% 范围内，标普500的远期市盈率就应该能够保持在高位。在收益率大幅上升或其他导致股市下跌的因素带来更大压力之前，回到 16 倍的长期平均水平是不可能的。</blockquote></p><p> If yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says&nbsp;<a href=\"https://laohu8.com/S/STT\">State</a> Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”</p><p><blockquote>他表示，如果收益率飙升至 2% 或 2.25% 以上，投资者可能会开始更认真地质疑股票估值<a href=\"https://laohu8.com/S/STT\">状态</a>Street'schief 投资组合策略师 Gaurav Mallik： “我们已经有一段时间没有看到（10 年期国债收益率）超过 2%，因此这对投资者来说是一个重要的情绪水平。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/93ff6490069ab5dc1b4057f1ff7966f3\" tg-width=\"664\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Wilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says</p><p><blockquote>威尔逊更担心，他指出股市的估值风险是不对称的： “他说：”考虑到增长放缓和我们在周期中的位置，市盈率不太可能上升，而且很有可能下降 10% 以上。</blockquote></p><p> If 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”</p><p><blockquote>他补充说，如果 16 到 23 倍的远期市盈率是这个范围，“你已经处于这个范围的高端了。潜在的风险大于回报”。</blockquote></p><p> Some P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&amp;P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.</p><p><blockquote>六位策略师的预测都包含了一些市盈率的压缩，这使得利润增长之路更加重要。在经历了去年的盈利低迷之后，策略师平均预计标普500今年的盈利将跃升 46%，达到约 204 美元。随后，2022 年可能会上涨 9%，达到约 222.50 美元。</blockquote></p><p></p><p> A potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.</p><p><blockquote>一个潜在的阻力是 2022 年联邦企业税率的提高。民主党支出和税收计划的细节将在未来几周内制定，投资者有望听到更多关于潜在增税的消息。几位策略师认为，25% 的联邦企业利润率可能是一个妥协数字，高于 2018 年以来的 21%，但低于拜登政府寻求的 28%。</blockquote></p><p> An increase of that magnitude would shave about 5% off S&amp;P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time event for the market, some strategists predict.</p><p><blockquote>如此幅度的增长将使标普500明年的盈利减少约 5%。随着民主党和解法案的临近，该指数可能会下降类似的幅度，但影响应仅限于最初的修正。与 2017 年 12 月的减税一样，这一变化应该是<a href=\"https://laohu8.com/S/AONE.U\">一</a>一些策略师预测，市场的时间事件。</blockquote></p><p> These concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.</p><p><blockquote>撇开这些担忧不谈，投资者不应忽视大局： 美国经济状况良好，增长强劲。策略师预计今年国内生产总值将增长6.3%，2022年将增长约4%。“马利克说：”周期性上涨和高于趋势的增长至少将持续到 2022 年，我们希望偏向具有这种风险敞口的资产。</blockquote></p><p>   “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets  The State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.</p><p><blockquote>“今明两年我们的经济将非常火爆。当国内生产总值增长高于平均水平时，价值就会战胜增长，周期性股票会战胜防御性股票。”- Lori Calvasina，加拿大皇家银行资本市场 道富银行策略师建议在投资组合中增持材料、金融和技术。这种方法既包括银行和矿业等经济敏感的公司，也包括科技行业的稳定增长者。</blockquote></p><p> RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.</p><p><blockquote>加拿大皇家银行资本市场（RBC Capital Markets）美国股票策略主管洛里-卡尔瓦西纳（Lori Calvasina）同样采取杠铃策略，同时投资周期性和成长性。她喜欢的行业是能源、金融和科技。</blockquote></p><p> “Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”</p><p><blockquote>“卡尔瓦西纳说：”金融和能源领域的估值仍然比成长型行业（如科技或非必需消费品）更具吸引力。“近期的催化剂是摆脱当前的 Covid 浪潮......今明两年我们将迎来火热的经济，传统上，当 GDP 增长高于平均水平时，价值战胜增长，周期性战胜防御性。”</blockquote></p><p> But the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.</p><p><blockquote>但对质量的关注将是至关重要的，尤其是进入 2022 年下半年。届时美联储可能会在本周期内首次加息。到2023年，经济可能会恢复到新冠疫情前2%左右的增长率。</blockquote></p><p> “The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”</p><p><blockquote>“卡尔瓦西纳说：”历史的剧本是，从经济衰退中走出来，往往会看到持续一年左右的低质量超越业绩，然后领导层会回到高质量。“但从低质量到高质量的转变往往非常坎坷”。</blockquote></p><p> <b>A Shopping List for Fall</b></p><p><blockquote><b>秋季购物清单</b></blockquote></p><p> Most strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.</p><p><blockquote>大多数策略师倾向于经济敏感股票和稳定增长股票的组合，包括科技股。金融股应该表现良好，尤其是在债券收益率上升的情况下。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a54c4bd114c1a5f7f700d1fc14d30d8e\" tg-width=\"970\" tg-height=\"230\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Although stocks with quality attributes have outperformed the market this summer, according to a <a href=\"https://laohu8.com/S/BLK\">BlackRock</a> analysis, the quality factor has lagged since positive vaccine news was first reported last November.</p><p><blockquote>尽管具有质量属性的股票今年夏天的表现优于大盘，但根据<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>分析认为，自去年11月首次报道积极的疫苗消息以来，质量因素一直滞后。</blockquote></p><p> “We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”</p><p><blockquote>“贝莱德（BlackRock）的弗雷德里克斯（Fredericks）说：”我们正在进入一个周期中期环境，此时潜在的经济增长依然强劲，但势头开始放缓。“我们的研究表明，优质股票在这样的时期表现尤为出色。”</blockquote></p><p> He recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.</p><p><blockquote>他建议增持盈利的科技公司；金融业，包括银行，以及具有这些质量特征的必需消费品和工业。</blockquote></p><p> For <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.</p><p><blockquote>为了<a href=\"https://laohu8.com/S/WFC\">富国银行</a>该公司的股票策略主管克里斯托弗-哈维（Christopher Harvey）认为，大流行后的受益者和防御性敞口相结合才是最佳选择。他构建了一篮子波动性低于平均水平的股票--在今年秋季市场不确定或压力时期，这些股票的表现应该会优于平均水平--并且 “Covid贝塔值 ”较高，即对大流行病的好消息或坏消息敏感。一个要求；富国银行的股票分析师不得不将这些股票评级相当于买入。</blockquote></p><p> “There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”</p><p><blockquote>“哈维说：”近期存在经济不确定性、利率不确定性和 Covid 风险，一般来说，9 月前后我们正处于一年中季节性疲软的时期。“如果我们能在低体积和高 Covid beta 之间取得平衡，我们就能减轻即将到来的许多不确定性和波动性，这些催化剂的时间安排。不过，从长远来看，我们仍然希望有这种[重新开放的风险敞口]”。</blockquote></p><p></p><p> Harvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(BAC),<a href=\"https://laohu8.com/S/NTRSP\">Northern</a> Trust(NTRS),Lowe’s(LOW),<a href=\"https://laohu8.com/S/IQV\">IQVIA</a> Holdings(IQV), andMasco(MAS).</p><p><blockquote>哈维列出的高Covid贝塔值低波动性股票名单包括苹果公司（AAPL）、<a href=\"https://laohu8.com/S/BAC\">美国银行</a>（BAC），<a href=\"https://laohu8.com/S/NTRSP\">北方的</a>信托(NTRS)、劳氏(LOW)、<a href=\"https://laohu8.com/S/IQV\">伊克维亚</a>控股公司 (IQV) 和马斯科 (MAS)。</blockquote></p><p> Overall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.</p><p><blockquote>总体而言，银行是未来几个月最常被推荐的群体。景顺 KBW 银行交易所交易基金 (KBWB) 为美国该行业提供广泛的投资。</blockquote></p><p> “We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.</p><p><blockquote>“哈维说：”我们喜欢估值[和]信用质量；他们现在被允许回购股票并增加股息，而且 Covid 贝塔系数也更高。</blockquote></p><p> Cheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.</p><p><blockquote>更便宜的估值意味着市场调整中潜在的下行空间较小。而且，与股票市场的其他大部分相反，更高的利率将成为银行的推动力，然后银行可能会收取更高的贷款费用。</blockquote></p><p> <a href=\"https://laohu8.com/S/HCSG\">Healthcare</a> stocks also have some fans. “<a href=\"https://laohu8.com/S/HR\">Healthcare</a> has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analysts and fitting his macro views.</p><p><blockquote><a href=\"https://laohu8.com/S/HCSG\">医疗保健</a>股票也有一些粉丝。“<a href=\"https://laohu8.com/S/HR\">医疗保健</a>威尔逊说。“如今，与其他行业相比，医疗保健行业每单位增长的成本要低得多。因此，我们认为，当我们担心估值时，医疗保健行业为这个市场提供了良好的平衡。”Health insurerHumana (HUM) 将威尔逊的 “新鲜资金买入清单”评级为买入<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>分析师并符合他的宏观观点。</blockquote></p><p> Nuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.</p><p><blockquote>Nuveen 的 Malik 也将目光投向了医疗保健行业，即制药和生物技术行业，以获得价格相对较低的增长机会。她指出，Seagen (SGEN) 专注于肿瘤药物，可能是制药巨头有吸引力的收购目标。</blockquote></p><p> Malik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.</p><p><blockquote>马利克还喜欢艾伯维 (ABBV)，该公司的远期市盈率为 8 倍，股息收益率为 4.7%。其重磅抗炎药修美乐的专利即将到期，这让一些投资者望而却步，但马利克相信管理层可以限制损害，并看到这家价值 2000 亿美元的公司正在开发有前途的药物。</blockquote></p><p> Both stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of <a href=\"https://laohu8.com/S/ABBV\">AbbVie</a>’s most promising post-Humira products.</p><p><blockquote>这两只股票最近几天都经历了艰难的时期。Seagen 上周下跌超过 8%，至 152 美元左右，原因是有消息称其联合创始人兼首席执行官最近出售了大量股票。周三，艾伯维股价下跌 7%，至 112.27 美元，此前美国食品和药物管理局要求 JAK 抑制剂贴上新的警告标签，JAK 抑制剂是一种抗类风湿药物，包括以下成分之一<a href=\"https://laohu8.com/S/ABBV\">艾伯维</a>最有前途的后修美乐产品。</blockquote></p><p> <a href=\"https://laohu8.com/S/PFE\">Pfizer</a>(PFE),<a href=\"https://laohu8.com/S/AXP\">American Express</a>(AXP),Johnson &amp; Johnson(JNJ), andCisco Systems(CSCO) are other S&amp;P 500 members that pass a<i>Barron’s</i>screen for quality attributes.</p><p><blockquote><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>（PFE），<a href=\"https://laohu8.com/S/AXP\">美国运通</a>(AXP)、强生公司 (JNJ) 和思科系统公司 (CSCO) 是其他通过<i>巴伦</i>质量属性屏幕。</blockquote></p><p> After a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. <a href=\"https://laohu8.com/S/JE\">Just</a> be more selective. And go with quality.</p><p><blockquote>经过一年的稳步上涨后，今年秋天投资者可能会被提醒，随着增长势头和政策支持开始消退，股市也可能下跌。但如果市场从高点回落，潜在的经济实力支持逢低买入。<a href=\"https://laohu8.com/S/JE\">刚刚</a>更有选择性。追求质量。</blockquote></p><p></p>","source":"lsy1610680873436","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>Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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\">\nStrategists Say the Stock Market Could Struggle This Fall. What to Buy Now?<blockquote>策略师表示，今年秋天股市可能会陷入困境。现在买什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-09-07 17:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&amp;P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.</p><p><blockquote>对于市场来说，这是多么美好的一年啊!在货币和财政刺激、经济和盈利增长以及（直到最近）疫情基本消退的推动下，标准普尔 500 指数上涨了 20%，连续七个月上涨，并一路创下 50 多个新高。此外，去年市场从 2020 年 3 月的低点反弹了 68%。</blockquote></p><p> Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.</p><p><blockquote>顺风依然存在，但逆风现在迫在眉睫，可能会减缓股市的上涨速度。刺激支出已见顶，经济和企业盈利增长可能会在今年年底放缓。更重要的是，美联储几乎承诺在未来几个月开始缩减债券购买规模，拜登政府也提议提高企业和个人税率。对于越来越昂贵的股票持有者来说，这些都不太可能满意。</blockquote></p><p> In other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”</p><p><blockquote>换句话说，做好准备迎接波动性下跌，这相互矛盾地推动巴菲特股票、债券和投资者。“Nuveen 全球股票首席投资官赛拉-马利克（Saira Malik）说：”万物反弹已经过去。“这不会是一股急剧上涨的经济潮流，让所有船只都离开这里”。</blockquote></p><p> That’s the general consensus among the six market strategists and chief investment officers whom<i>Barron’s</i>recently consulted. All see the S&amp;P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.</p><p><blockquote>这是六位市场策略师和首席投资官的普遍共识。<i>巴伦</i>最近咨询过。所有人都看到标普500在周四收盘价 4536 点附近收盘。他们的平均目标：4585。</blockquote></p><p> Next year’s gains look muted, as well, relative to recent trends. The group expects the S&amp;P 500 to tack on another 6% in 2022, rising to about 4800.</p><p><blockquote>与最近的趋势相比，明年的涨幅也显得微不足道。该集团预计 2022 年标普500将再增长 6%，升至 4,800 左右。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eb61c7b74b9b0f18a019afb4ac44ad59\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">With stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.</p><p><blockquote>由于股票交易价格约为来年预期收益的 21 倍，债券收益率很低，现金收益率在考虑通货膨胀因素后几乎为零，投资者面临着艰难的资产配置决策。我们的市场观察家建议关注 “优质 ”投资，而不是提振快速增长的科技股、停滞不前的备忘录股和数字世界的狗狗币。在股票中，这意味着拥有稳健的资产负债表、不断扩大的利润率以及充足且经常性的自由现金流的企业股票。即使未来几个月平均指数表现不佳，这些股票也可能会大放异彩。</blockquote></p><p> The stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.</p><p><blockquote>过去一年股市的大幅反弹是美联储的一份礼物，美联储向金融体系注入了大量资金，以避免 Covid 大流行病造成的经济损失。自2020年3月以来，美国央行每月购买总计1200亿美元的美国国债和抵押贷款支持证券，同时将基准联邦基金利率目标维持在0%至0.25%。这些举措压低了债券收益率，并将投资者推向包括股票在内的风险更高的资产。</blockquote></p><p> Fed Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”</p><p><blockquote>美联储主席杰罗姆<a href=\"https://laohu8.com/S/POWL\">鲍威尔</a>曾表示，央行可能会在未来几个季度的某个时候开始逐步减少或缩减紧急资产购买规模，此举可能会动摇各种风险资产。“摩根士丹利（atMorgan Stanley）首席投资官兼首席美国股票策略师迈克-威尔逊（Mike Wilson）说：”对我们来说，这很简单：缩减规模就是收紧规模。“这是（美联储）远离最大限度宽松的第一步。他们这次对此非常精打细算，但底线是这应该会对股票估值产生负面影响。”</blockquote></p><p> The government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.</p><p><blockquote>战略家们指出，政府的刺激支出也达到了顶峰。每周 300 美元的补充联邦失业救济金将于 9 月 6 日到期。尽管国会似乎可能会在今年秋天通过一项两党基础设施法案，但与2020年3月以来推出的多轮刺激计划相比，近期经济影响将相形见绌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c2cb76c498c1c4c980139e3d0514c261\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">The bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.</p><p><blockquote>该法案包括约 5500 亿美元的新支出——只是之前法律授权的万亿美元的一小部分——并且将分摊多年。基础设施刺激措施将在短期内对占美国国内生产总值增长近 70% 的消费支出的提振作用，远不及去年数百万美国人收到政府支票后的经济状况。</blockquote></p><p> A budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.</p><p><blockquote>民主党批准的预算法案只应遵循基础设施法案，并包括支持医疗保险扩张、儿童保育资金、免费社区大学学费、公共住房和气候相关措施的支出，以及其他政党优先事项。国会可能会投票提高对企业和高收入个人的税收，以抵消这笔支出——这是市场面临的另一个近期风险。</blockquote></p><p></p><p> <img src=\"https://static.tigerbbs.com/6693da658db16059fc99e08a7531675f\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">Other politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a <a href=\"https://laohu8.com/S/WASH\">Washington</a> shutdown in October.</p><p><blockquote>今年秋天，其他充满政治色彩的问题同样可能导致股市脱轨。国会需要通过提高债务上限来为政府提供资金，并在本月晚些时候通过一项权宜之计支出法案，以避免<a href=\"https://laohu8.com/S/WASH\">华盛顿</a>十月关闭。</blockquote></p><p> For now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.</p><p><blockquote>目前，我们的市场专家对新冠肺炎德尔塔变异毒株的经济影响相对乐观。他们说，只要疫苗在最大限度地减少导致住院和死亡的严重感染方面仍然有效，当前Covid浪潮的负面影响将主要局限于旅游业和电影院。华尔街对市场的基本看法并不包括新一波会破坏经济增长的封锁。</blockquote></p><p> Inflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.</p><p><blockquote>通货膨胀一直是美联储和投资者的热门话题，部分原因是最近通货膨胀一直非常火爆。美国消费者价格指数在 6 月和 7 月均以年化 5.4% 的速度上涨--美联储的评级是暂时的，尽管其他人并不确定。战略家们站在鲍威尔一边；他们预计明年通货膨胀率将大幅下降。他们的预测降幅在 2.5% 至 3.5% 之间，他们认为这对消费者和企业来说是可控的，也是经济快速增长的可接受的副作用。然而，高于 2.5% 的通胀率，加上美联储缩减规模，意味着现在超低的债券收益率应该会上升。</blockquote></p><p> “We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”</p><p><blockquote>“贝莱德多资产策略集团（BlackRockMulti-Asset Strategies Group）收入投资主管迈克尔-弗雷德里克斯（Michael Fredericks）说：”我们认为通胀将继续高于金融危机以来的水平，但一旦许多与重新开放相关的压力开始消散，我们就很难看到通胀率远高于2.5%。“因此，债券收益率确实需要上升，但这将是逐步发生的。”</blockquote></p><p> The strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for&nbsp;the bond market—and could be even more so for stocks.</p><p><blockquote>策略师预计，到年底，10年期美国国债收益率将攀升至1.65%左右。这比目前的水平高出约 35 个基点，即百分之一个百分点，但低于 2021 年 3 月高点时达到的 1.75%。该组织表示，到明年，10 年期国债收益率可能达到 2%。从绝对值来看，这些举措并不算大，但对债券市场来说意义重大，对股市来说意义更大。</blockquote></p><p> Rising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&amp;P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.</p><p><blockquote>收益率上升往往会给股票估值带来压力，原因有二。收益率较高的债券会给股票带来竞争，如果按较高的利率贴现，公司未来的收益在目前就毫无价值。尽管如此，2% 左右的 10 年期国债收益率仍不足以将股票估值降至 Covid 之前的水平。即使收益率攀升，市场策略师也认为标普500持有的市盈率远高于其 30 年平均水平 16 倍远期市盈率。去年秋天，该指数的远期市盈率突破了 23。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08d24cb421d7cc13debd76a9c6fea01\" tg-width=\"660\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As long as 10-year Treasury yields stay in the 2% range, the S&amp;P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.</p><p><blockquote>策略师表示，只要 10 年期国债收益率保持在 2% 范围内，标普500的远期市盈率就应该能够保持在高位。在收益率大幅上升或其他导致股市下跌的因素带来更大压力之前，回到 16 倍的长期平均水平是不可能的。</blockquote></p><p> If yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says&nbsp;<a href=\"https://laohu8.com/S/STT\">State</a> Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”</p><p><blockquote>他表示，如果收益率飙升至 2% 或 2.25% 以上，投资者可能会开始更认真地质疑股票估值<a href=\"https://laohu8.com/S/STT\">状态</a>Street'schief 投资组合策略师 Gaurav Mallik： “我们已经有一段时间没有看到（10 年期国债收益率）超过 2%，因此这对投资者来说是一个重要的情绪水平。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/93ff6490069ab5dc1b4057f1ff7966f3\" tg-width=\"664\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Wilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says</p><p><blockquote>威尔逊更担心，他指出股市的估值风险是不对称的： “他说：”考虑到增长放缓和我们在周期中的位置，市盈率不太可能上升，而且很有可能下降 10% 以上。</blockquote></p><p> If 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”</p><p><blockquote>他补充说，如果 16 到 23 倍的远期市盈率是这个范围，“你已经处于这个范围的高端了。潜在的风险大于回报”。</blockquote></p><p> Some P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&amp;P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.</p><p><blockquote>六位策略师的预测都包含了一些市盈率的压缩，这使得利润增长之路更加重要。在经历了去年的盈利低迷之后，策略师平均预计标普500今年的盈利将跃升 46%，达到约 204 美元。随后，2022 年可能会上涨 9%，达到约 222.50 美元。</blockquote></p><p></p><p> A potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.</p><p><blockquote>一个潜在的阻力是 2022 年联邦企业税率的提高。民主党支出和税收计划的细节将在未来几周内制定，投资者有望听到更多关于潜在增税的消息。几位策略师认为，25% 的联邦企业利润率可能是一个妥协数字，高于 2018 年以来的 21%，但低于拜登政府寻求的 28%。</blockquote></p><p> An increase of that magnitude would shave about 5% off S&amp;P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time event for the market, some strategists predict.</p><p><blockquote>如此幅度的增长将使标普500明年的盈利减少约 5%。随着民主党和解法案的临近，该指数可能会下降类似的幅度，但影响应仅限于最初的修正。与 2017 年 12 月的减税一样，这一变化应该是<a href=\"https://laohu8.com/S/AONE.U\">一</a>一些策略师预测，市场的时间事件。</blockquote></p><p> These concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.</p><p><blockquote>撇开这些担忧不谈，投资者不应忽视大局： 美国经济状况良好，增长强劲。策略师预计今年国内生产总值将增长6.3%，2022年将增长约4%。“马利克说：”周期性上涨和高于趋势的增长至少将持续到 2022 年，我们希望偏向具有这种风险敞口的资产。</blockquote></p><p>   “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets  The State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.</p><p><blockquote>“今明两年我们的经济将非常火爆。当国内生产总值增长高于平均水平时，价值就会战胜增长，周期性股票会战胜防御性股票。”- Lori Calvasina，加拿大皇家银行资本市场 道富银行策略师建议在投资组合中增持材料、金融和技术。这种方法既包括银行和矿业等经济敏感的公司，也包括科技行业的稳定增长者。</blockquote></p><p> RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.</p><p><blockquote>加拿大皇家银行资本市场（RBC Capital Markets）美国股票策略主管洛里-卡尔瓦西纳（Lori Calvasina）同样采取杠铃策略，同时投资周期性和成长性。她喜欢的行业是能源、金融和科技。</blockquote></p><p> “Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”</p><p><blockquote>“卡尔瓦西纳说：”金融和能源领域的估值仍然比成长型行业（如科技或非必需消费品）更具吸引力。“近期的催化剂是摆脱当前的 Covid 浪潮......今明两年我们将迎来火热的经济，传统上，当 GDP 增长高于平均水平时，价值战胜增长，周期性战胜防御性。”</blockquote></p><p> But the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.</p><p><blockquote>但对质量的关注将是至关重要的，尤其是进入 2022 年下半年。届时美联储可能会在本周期内首次加息。到2023年，经济可能会恢复到新冠疫情前2%左右的增长率。</blockquote></p><p> “The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”</p><p><blockquote>“卡尔瓦西纳说：”历史的剧本是，从经济衰退中走出来，往往会看到持续一年左右的低质量超越业绩，然后领导层会回到高质量。“但从低质量到高质量的转变往往非常坎坷”。</blockquote></p><p> <b>A Shopping List for Fall</b></p><p><blockquote><b>秋季购物清单</b></blockquote></p><p> Most strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.</p><p><blockquote>大多数策略师倾向于经济敏感股票和稳定增长股票的组合，包括科技股。金融股应该表现良好，尤其是在债券收益率上升的情况下。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a54c4bd114c1a5f7f700d1fc14d30d8e\" tg-width=\"970\" tg-height=\"230\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Although stocks with quality attributes have outperformed the market this summer, according to a <a href=\"https://laohu8.com/S/BLK\">BlackRock</a> analysis, the quality factor has lagged since positive vaccine news was first reported last November.</p><p><blockquote>尽管具有质量属性的股票今年夏天的表现优于大盘，但根据<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>分析认为，自去年11月首次报道积极的疫苗消息以来，质量因素一直滞后。</blockquote></p><p> “We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”</p><p><blockquote>“贝莱德（BlackRock）的弗雷德里克斯（Fredericks）说：”我们正在进入一个周期中期环境，此时潜在的经济增长依然强劲，但势头开始放缓。“我们的研究表明，优质股票在这样的时期表现尤为出色。”</blockquote></p><p> He recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.</p><p><blockquote>他建议增持盈利的科技公司；金融业，包括银行，以及具有这些质量特征的必需消费品和工业。</blockquote></p><p> For <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.</p><p><blockquote>为了<a href=\"https://laohu8.com/S/WFC\">富国银行</a>该公司的股票策略主管克里斯托弗-哈维（Christopher Harvey）认为，大流行后的受益者和防御性敞口相结合才是最佳选择。他构建了一篮子波动性低于平均水平的股票--在今年秋季市场不确定或压力时期，这些股票的表现应该会优于平均水平--并且 “Covid贝塔值 ”较高，即对大流行病的好消息或坏消息敏感。一个要求；富国银行的股票分析师不得不将这些股票评级相当于买入。</blockquote></p><p> “There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”</p><p><blockquote>“哈维说：”近期存在经济不确定性、利率不确定性和 Covid 风险，一般来说，9 月前后我们正处于一年中季节性疲软的时期。“如果我们能在低体积和高 Covid beta 之间取得平衡，我们就能减轻即将到来的许多不确定性和波动性，这些催化剂的时间安排。不过，从长远来看，我们仍然希望有这种[重新开放的风险敞口]”。</blockquote></p><p></p><p> Harvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(BAC),<a href=\"https://laohu8.com/S/NTRSP\">Northern</a> Trust(NTRS),Lowe’s(LOW),<a href=\"https://laohu8.com/S/IQV\">IQVIA</a> Holdings(IQV), andMasco(MAS).</p><p><blockquote>哈维列出的高Covid贝塔值低波动性股票名单包括苹果公司（AAPL）、<a href=\"https://laohu8.com/S/BAC\">美国银行</a>（BAC），<a href=\"https://laohu8.com/S/NTRSP\">北方的</a>信托(NTRS)、劳氏(LOW)、<a href=\"https://laohu8.com/S/IQV\">伊克维亚</a>控股公司 (IQV) 和马斯科 (MAS)。</blockquote></p><p> Overall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.</p><p><blockquote>总体而言，银行是未来几个月最常被推荐的群体。景顺 KBW 银行交易所交易基金 (KBWB) 为美国该行业提供广泛的投资。</blockquote></p><p> “We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.</p><p><blockquote>“哈维说：”我们喜欢估值[和]信用质量；他们现在被允许回购股票并增加股息，而且 Covid 贝塔系数也更高。</blockquote></p><p> Cheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.</p><p><blockquote>更便宜的估值意味着市场调整中潜在的下行空间较小。而且，与股票市场的其他大部分相反，更高的利率将成为银行的推动力，然后银行可能会收取更高的贷款费用。</blockquote></p><p> <a href=\"https://laohu8.com/S/HCSG\">Healthcare</a> stocks also have some fans. “<a href=\"https://laohu8.com/S/HR\">Healthcare</a> has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analysts and fitting his macro views.</p><p><blockquote><a href=\"https://laohu8.com/S/HCSG\">医疗保健</a>股票也有一些粉丝。“<a href=\"https://laohu8.com/S/HR\">医疗保健</a>威尔逊说。“如今，与其他行业相比，医疗保健行业每单位增长的成本要低得多。因此，我们认为，当我们担心估值时，医疗保健行业为这个市场提供了良好的平衡。”Health insurerHumana (HUM) 将威尔逊的 “新鲜资金买入清单”评级为买入<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>分析师并符合他的宏观观点。</blockquote></p><p> Nuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.</p><p><blockquote>Nuveen 的 Malik 也将目光投向了医疗保健行业，即制药和生物技术行业，以获得价格相对较低的增长机会。她指出，Seagen (SGEN) 专注于肿瘤药物，可能是制药巨头有吸引力的收购目标。</blockquote></p><p> Malik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.</p><p><blockquote>马利克还喜欢艾伯维 (ABBV)，该公司的远期市盈率为 8 倍，股息收益率为 4.7%。其重磅抗炎药修美乐的专利即将到期，这让一些投资者望而却步，但马利克相信管理层可以限制损害，并看到这家价值 2000 亿美元的公司正在开发有前途的药物。</blockquote></p><p> Both stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of <a href=\"https://laohu8.com/S/ABBV\">AbbVie</a>’s most promising post-Humira products.</p><p><blockquote>这两只股票最近几天都经历了艰难的时期。Seagen 上周下跌超过 8%，至 152 美元左右，原因是有消息称其联合创始人兼首席执行官最近出售了大量股票。周三，艾伯维股价下跌 7%，至 112.27 美元，此前美国食品和药物管理局要求 JAK 抑制剂贴上新的警告标签，JAK 抑制剂是一种抗类风湿药物，包括以下成分之一<a href=\"https://laohu8.com/S/ABBV\">艾伯维</a>最有前途的后修美乐产品。</blockquote></p><p> <a href=\"https://laohu8.com/S/PFE\">Pfizer</a>(PFE),<a href=\"https://laohu8.com/S/AXP\">American Express</a>(AXP),Johnson &amp; Johnson(JNJ), andCisco Systems(CSCO) are other S&amp;P 500 members that pass a<i>Barron’s</i>screen for quality attributes.</p><p><blockquote><a href=\"https://laohu8.com/S/PFE\">辉瑞</a>（PFE），<a href=\"https://laohu8.com/S/AXP\">美国运通</a>(AXP)、强生公司 (JNJ) 和思科系统公司 (CSCO) 是其他通过<i>巴伦</i>质量属性屏幕。</blockquote></p><p> After a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. <a href=\"https://laohu8.com/S/JE\">Just</a> be more selective. And go with quality.</p><p><blockquote>经过一年的稳步上涨后，今年秋天投资者可能会被提醒，随着增长势头和政策支持开始消退，股市也可能下跌。但如果市场从高点回落，潜在的经济实力支持逢低买入。<a href=\"https://laohu8.com/S/JE\">刚刚</a>更有选择性。追求质量。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2\">Barron's</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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130130857","content_text":"What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.\nTailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.\nIn other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”\nThat’s the general consensus among the six market strategists and chief investment officers whomBarron’srecently consulted. All see the S&P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.\nNext year’s gains look muted, as well, relative to recent trends. The group expects the S&P 500 to tack on another 6% in 2022, rising to about 4800.\nWith stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.\nThe stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.\nFed Chairman Jerome Powell has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”\nThe government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.\nThe bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.\nA budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.\nOther politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a Washington shutdown in October.\nFor now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.\nInflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.\n“We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”\nThe strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for the bond market—and could be even more so for stocks.\nRising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.\n\nAs long as 10-year Treasury yields stay in the 2% range, the S&P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.\nIf yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says State Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”\n\nWilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says\nIf 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”\nSome P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.\nA potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.\nAn increase of that magnitude would shave about 5% off S&P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a one-time event for the market, some strategists predict.\nThese concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.\n\n “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets\n\nThe State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.\nRBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.\n“Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”\nBut the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.\n“The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”\nA Shopping List for Fall\nMost strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.\n\nAlthough stocks with quality attributes have outperformed the market this summer, according to a BlackRock analysis, the quality factor has lagged since positive vaccine news was first reported last November.\n“We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”\nHe recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.\nFor Wells Fargo’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.\n“There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”\nHarvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),Bank of America(BAC),Northern Trust(NTRS),Lowe’s(LOW),IQVIA Holdings(IQV), andMasco(MAS).\nOverall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.\n“We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.\nCheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.\nHealthcare stocks also have some fans. “Healthcare has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by Morgan Stanley analysts and fitting his macro views.\nNuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.\nMalik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.\nBoth stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of AbbVie’s most promising post-Humira products.\nPfizer(PFE),American Express(AXP),Johnson & Johnson(JNJ), andCisco Systems(CSCO) are other S&P 500 members that pass aBarron’sscreen for quality attributes.\nAfter a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. Just be more selective. And go with quality.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":896,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888766284,"gmtCreate":1631531095548,"gmtModify":1631883823319,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"Apple flagship event. Make it count&nbsp;","listText":"Apple flagship event. Make it count&nbsp;","text":"Apple flagship event. Make it count","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/888766284","repostId":"2167630550","repostType":4,"isVote":1,"tweetType":1,"viewCount":635,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898164011,"gmtCreate":1628478750933,"gmtModify":1633746844419,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"Disney, I like it&nbsp;","listText":"Disney, I like it&nbsp;","text":"Disney, I like it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/898164011","repostId":"1162909436","repostType":4,"repost":{"id":"1162909436","kind":"news","pubTimestamp":1628463995,"share":"https://www.laohunote.com/m/news/1162909436?lang=zh_CN&edition=full","pubTime":"2021-08-09 07:06","market":"us","language":"en","title":"Disney, AMC, Coinbase, Airbnb, BioNTech, and Other Stocks for Investors to Watch This Week<blockquote>迪士尼、AMC、Coinbase、爱彼迎、BioNTech 和本周投资者关注的其他股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162909436","media":"Barron's","summary":"The bulk of second-quarter earnings season is in the rearview mirror, but several notable reports re","content":"<p>The bulk of second-quarter earnings season is in the rearview mirror,&nbsp;but several notable reports remain.&nbsp;AMC Entertainment Holdings,&nbsp;BioNTech, and&nbsp;Dish Network&nbsp;will be Monday’s highlights.&nbsp;Coinbase&nbsp;Global and&nbsp;Syscogo on Tuesday. On Wednesday,&nbsp;eBay&nbsp;will report, followed by Walt&nbsp;Disney,&nbsp;Airbnb,&nbsp;DoorDash,&nbsp;and&nbsp;Broadridge Financial Solutionson Thursday.</p><p><blockquote>第二季度财报季的大部分时间已经过去，但仍有几份值得关注的报告。AMC院线控股公司、BioNTech 和 Dish Network 将是周一的亮点。Coinbase Global 和 Syscogo 将于周二发布。周三，eBay 将发布报告，随后是华特迪士尼、爱彼迎、DoorDash 和 Broadridge Financial Solutions 将于周四发布报告。</blockquote></p><p> The week’s economic calendar will include a pair of updates each on consumer and business inflation and sentiment. On Wednesday, the Bureau of Labor Statistics will&nbsp;report&nbsp;the consumer price index for July, followed by the producer price index on Thursday. Those are expected to have increased by 5.3% and 7.3%, respectively, year over year.</p><p><blockquote>本周的经济日历将包括消费者和企业通胀及情绪的两份更新。周三，美国劳工统计局将公布7月份消费者价格指数，随后是周四的生产者价格指数。预计同比分别增长5.3%和7.3%。</blockquote></p><p> On Tuesday, the National Federation of Independent Business will release its Small Business Optimism Index for July. And on Friday, the University of Michigan reports its Consumer Sentiment index for August. Both are forecast to hold roughly even with the prior months’ figures.</p><p><blockquote>周二，全国独立企业联合会将发布7月份小企业乐观指数。周五，密歇根大学公布了 8 月份消费者信心指数。预计这两个数字将与前几个月的数字大致持平。</blockquote></p><p> <h3><b>Monday 8/9</b></h3> Air Products and Chemicals,&nbsp;<a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a>,&nbsp;Barrick Gold,&nbsp;<a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a>, <a href=\"https://laohu8.com/S/DISH\">DISH Network</a>, and&nbsp;<a href=\"https://laohu8.com/S/TSN\">Tyson</a>&nbsp;report quarterly results.</p><p><blockquote><h3><b>8/9星期一</b></h3>空气产品和化学品，<a href=\"https://laohu8.com/S/AMC\">AMC院线</a>, 巴里克黄金,<a href=\"https://laohu8.com/S/BNTX\">生物科技公司</a>,<a href=\"https://laohu8.com/S/DISH\">碟形网</a>，和<a href=\"https://laohu8.com/S/TSN\">泰森</a>报告季度业绩。</blockquote></p><p> <b>The Bureau of Labor Statistics</b>&nbsp;reports the Job Openings and Labor Turnover Survey for June. Economists forecast 9.1 million openings on the last business day of June, slightly less than the May figure. Job openings stand at record levels as employers struggle to fill vacant positions.</p><p><blockquote><b>劳工统计局</b>报告六月份的职位空缺和劳动力流动调查。经济学家预测 6 月最后一个工作日将有 910 万个职位空缺，略低于 5 月份的数字。随着雇主努力填补空缺职位，职位空缺达到创纪录水平。</blockquote></p><p> <h3><b>Tuesday 8/10</b></h3> <b>The National Federation of Independent Business</b>&nbsp;reports its Small Business Optimism Index for July. Consensus estimate is for a 102.8 reading, roughly even with the June data, which was the highest since October.</p><p><blockquote><h3><b>星期二 8/10</b></h3><b>全国独立企业联合会</b>报告 7 月份小企业乐观指数。普遍估计读数为 102.8，与 6 月份的数据大致持平，这是自 10 月份以来的最高水平。</blockquote></p><p> <a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a>, <a href=\"https://laohu8.com/S/SYY\">Sysco</a>, and&nbsp;<a href=\"https://laohu8.com/S/TDG\">TransDigm</a> announce earnings.</p><p><blockquote><a href=\"https://laohu8.com/S/COIN\">比特币基地全球公司。</a>,<a href=\"https://laohu8.com/S/SYY\">西斯科</a>，和<a href=\"https://laohu8.com/S/TDG\">TransDigm</a>公布收益。</blockquote></p><p> <b>The BLS reports unit labor</b>&nbsp;costs and nonfarm productivity for the second quarter. Expectations are for a rise of 0.9% in labor costs and 3.4% for productivity. This compares with increases of 1.7% and 5.4%, respectively, in the first quarter.</p><p><blockquote><b>BLS 报告单位劳动力</b>第二季度的成本和非农生产率。预计劳动力成本上升0.9%，生产率上升3.4%。相比之下，第一季度的增幅分别为 1.7% 和 5.4%。</blockquote></p><p> <h3><b>Wednesday 8/11</b></h3> <a href=\"https://laohu8.com/S/EBAY\">eBay</a> and&nbsp;<a href=\"https://laohu8.com/S/PRGO\">Perrigo Co PLC</a> release quarterly results.</p><p><blockquote><h3><b>星期三 8/11</b></h3><a href=\"https://laohu8.com/S/EBAY\">易趣</a>和<a href=\"https://laohu8.com/S/PRGO\">佩里戈公司</a>发布季度业绩。</blockquote></p><p> <b>The BLS reports the consumer</b>&nbsp;price index for July. Economists forecast a 5.3% increase year over year, after a gain of 5.4% in June. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.3%, compared with 4.5% previously. Inflation, and whether it is transitory, has generated much discussion on Wall Street this year, with the June CPI showing the fastest pace of growth since July 2008 and core CPI rising at the swiftest clip in nearly 30 years.</p><p><blockquote><b>BLS 向消费者报告</b>7月份价格指数。经济学家预测，继 6 月份增长 5.4% 后，同比增长 5.3%。剔除波动较大的食品和能源价格的核心CPI预计将上涨4.3%，而此前为4.5%。今年，通胀及其是否是短暂的，在华尔街引发了很多讨论，6月份CPI呈现自2008年7月以来最快的增长速度，核心CPI以近30年来最快的速度上涨。</blockquote></p><p> <b>The Treasury Department</b>&nbsp;releases the monthly budget statement for July. The estimated deficit is $267 billion for the month, and $3 trillion for fiscal 2021, which ends in September. The $3 trillion would be just shy of fiscal 2020’s $3.1 trillion deficit, a record.</p><p><blockquote><b>财政部</b>发布7月份月度预算报表。预计本月赤字为 2670 亿美元，2021 财年（将于 9 月结束）赤字为 3 万亿美元。3 万亿美元将略低于 2020 财年创纪录的 3.1 万亿美元赤字。</blockquote></p><p> <h3><b>Thursday 8/12</b></h3> <a href=\"https://laohu8.com/S/ABNB\">Airbnb, Inc.</a>, <a href=\"https://laohu8.com/S/BR\">Broadridge Financial Solutions</a>,&nbsp;<a href=\"https://laohu8.com/S/BAM\">Brookfield Asset Management</a>,&nbsp;<a href=\"https://laohu8.com/S/DASH\">DoorDash, Inc.</a>, and <a href=\"https://laohu8.com/S/DIS\">Walt Disney</a> hold conference calls to discuss earnings.</p><p><blockquote><h3><b>星期四 8/12</b></h3><a href=\"https://laohu8.com/S/ABNB\">爱彼迎公司。</a>,<a href=\"https://laohu8.com/S/BR\">布罗德里奇金融解决方案</a>, <a href=\"https://laohu8.com/S/BAM\">布鲁克菲尔德资产管理公司</a>, <a href=\"https://laohu8.com/S/DASH\">DoorDash公司。</a>，和<a href=\"https://laohu8.com/S/DIS\">华特·迪士尼</a>在评级召开会议讨论收益。</blockquote></p><p> Idexx Laboratorieshosts its 2021 virtual investor day.</p><p><blockquote>Idexx实验室举办2021年虚拟投资者日。</blockquote></p><p> <b>The BLS reports the</b>&nbsp;producer price index for July. Consensus estimate is for a 0.4% month-over-month rise. The core PPI, which excludes volatile food and energy prices, is projected to increase 0.5%. The PPI and core PPI, both jumped 1% in June.</p><p><blockquote><b>BLS 报告</b>7月份生产者价格指数。普遍估计环比上涨 0.4%。剔除波动较大的食品和能源价格的核心PPI预计将上涨0.5%。6月份PPI和核心PPI均上涨1%。</blockquote></p><p> <b>The Department of Labor</b>&nbsp;reports initial jobless claims for the weekend ending on Aug. 7. In July, claims averaged 392,000 a week, slightly less than the June data. Jobless claims have trended down since peaking in the spring of 2020 but remain elevated compared with prepandemic levels.</p><p><blockquote><b>劳工部</b>报告截至 8 月 7 日的周末首次申请失业救济人数。7 月份，平均每周申请人数为 392,000 人，略低于 6 月份的数据。自 2020 年春季达到峰值以来，申请失业救济人数呈下降趋势，但与大流行前的水平相比，仍处于较高水平。</blockquote></p><p> <h3><b>Friday 8/13</b></h3> <b>The University of Michigan</b>&nbsp;releases its Consumer Sentiment index for August. Expectations are for an 81.1 reading, roughly even with the July figure.</p><p><blockquote><h3><b>8/13星期五</b></h3><b>密歇根大学</b>发布8月份消费者信心指数。预期读数为 81.1，与 7 月份的数据大致持平。</blockquote></p><p></p>","source":"lsy1610680873436","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>Disney, AMC, Coinbase, Airbnb, BioNTech, and Other Stocks for Investors to Watch This Week<blockquote>迪士尼、AMC、Coinbase、爱彼迎、BioNTech 和本周投资者关注的其他股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDisney, AMC, Coinbase, Airbnb, BioNTech, and Other Stocks for Investors to Watch This Week<blockquote>迪士尼、AMC、Coinbase、爱彼迎、BioNTech 和本周投资者关注的其他股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-08-09 07:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The bulk of second-quarter earnings season is in the rearview mirror,&nbsp;but several notable reports remain.&nbsp;AMC Entertainment Holdings,&nbsp;BioNTech, and&nbsp;Dish Network&nbsp;will be Monday’s highlights.&nbsp;Coinbase&nbsp;Global and&nbsp;Syscogo on Tuesday. On Wednesday,&nbsp;eBay&nbsp;will report, followed by Walt&nbsp;Disney,&nbsp;Airbnb,&nbsp;DoorDash,&nbsp;and&nbsp;Broadridge Financial Solutionson Thursday.</p><p><blockquote>第二季度财报季的大部分时间已经过去，但仍有几份值得关注的报告。AMC院线控股公司、BioNTech 和 Dish Network 将是周一的亮点。Coinbase Global 和 Syscogo 将于周二发布。周三，eBay 将发布报告，随后是华特迪士尼、爱彼迎、DoorDash 和 Broadridge Financial Solutions 将于周四发布报告。</blockquote></p><p> The week’s economic calendar will include a pair of updates each on consumer and business inflation and sentiment. On Wednesday, the Bureau of Labor Statistics will&nbsp;report&nbsp;the consumer price index for July, followed by the producer price index on Thursday. Those are expected to have increased by 5.3% and 7.3%, respectively, year over year.</p><p><blockquote>本周的经济日历将包括消费者和企业通胀及情绪的两份更新。周三，美国劳工统计局将公布7月份消费者价格指数，随后是周四的生产者价格指数。预计同比分别增长5.3%和7.3%。</blockquote></p><p> On Tuesday, the National Federation of Independent Business will release its Small Business Optimism Index for July. And on Friday, the University of Michigan reports its Consumer Sentiment index for August. Both are forecast to hold roughly even with the prior months’ figures.</p><p><blockquote>周二，全国独立企业联合会将发布7月份小企业乐观指数。周五，密歇根大学公布了 8 月份消费者信心指数。预计这两个数字将与前几个月的数字大致持平。</blockquote></p><p> <h3><b>Monday 8/9</b></h3> Air Products and Chemicals,&nbsp;<a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a>,&nbsp;Barrick Gold,&nbsp;<a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a>, <a href=\"https://laohu8.com/S/DISH\">DISH Network</a>, and&nbsp;<a href=\"https://laohu8.com/S/TSN\">Tyson</a>&nbsp;report quarterly results.</p><p><blockquote><h3><b>8/9星期一</b></h3>空气产品和化学品，<a href=\"https://laohu8.com/S/AMC\">AMC院线</a>, 巴里克黄金,<a href=\"https://laohu8.com/S/BNTX\">生物科技公司</a>,<a href=\"https://laohu8.com/S/DISH\">碟形网</a>，和<a href=\"https://laohu8.com/S/TSN\">泰森</a>报告季度业绩。</blockquote></p><p> <b>The Bureau of Labor Statistics</b>&nbsp;reports the Job Openings and Labor Turnover Survey for June. Economists forecast 9.1 million openings on the last business day of June, slightly less than the May figure. Job openings stand at record levels as employers struggle to fill vacant positions.</p><p><blockquote><b>劳工统计局</b>报告六月份的职位空缺和劳动力流动调查。经济学家预测 6 月最后一个工作日将有 910 万个职位空缺，略低于 5 月份的数字。随着雇主努力填补空缺职位，职位空缺达到创纪录水平。</blockquote></p><p> <h3><b>Tuesday 8/10</b></h3> <b>The National Federation of Independent Business</b>&nbsp;reports its Small Business Optimism Index for July. Consensus estimate is for a 102.8 reading, roughly even with the June data, which was the highest since October.</p><p><blockquote><h3><b>星期二 8/10</b></h3><b>全国独立企业联合会</b>报告 7 月份小企业乐观指数。普遍估计读数为 102.8，与 6 月份的数据大致持平，这是自 10 月份以来的最高水平。</blockquote></p><p> <a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a>, <a href=\"https://laohu8.com/S/SYY\">Sysco</a>, and&nbsp;<a href=\"https://laohu8.com/S/TDG\">TransDigm</a> announce earnings.</p><p><blockquote><a href=\"https://laohu8.com/S/COIN\">比特币基地全球公司。</a>,<a href=\"https://laohu8.com/S/SYY\">西斯科</a>，和<a href=\"https://laohu8.com/S/TDG\">TransDigm</a>公布收益。</blockquote></p><p> <b>The BLS reports unit labor</b>&nbsp;costs and nonfarm productivity for the second quarter. Expectations are for a rise of 0.9% in labor costs and 3.4% for productivity. This compares with increases of 1.7% and 5.4%, respectively, in the first quarter.</p><p><blockquote><b>BLS 报告单位劳动力</b>第二季度的成本和非农生产率。预计劳动力成本上升0.9%，生产率上升3.4%。相比之下，第一季度的增幅分别为 1.7% 和 5.4%。</blockquote></p><p> <h3><b>Wednesday 8/11</b></h3> <a href=\"https://laohu8.com/S/EBAY\">eBay</a> and&nbsp;<a href=\"https://laohu8.com/S/PRGO\">Perrigo Co PLC</a> release quarterly results.</p><p><blockquote><h3><b>星期三 8/11</b></h3><a href=\"https://laohu8.com/S/EBAY\">易趣</a>和<a href=\"https://laohu8.com/S/PRGO\">佩里戈公司</a>发布季度业绩。</blockquote></p><p> <b>The BLS reports the consumer</b>&nbsp;price index for July. Economists forecast a 5.3% increase year over year, after a gain of 5.4% in June. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.3%, compared with 4.5% previously. Inflation, and whether it is transitory, has generated much discussion on Wall Street this year, with the June CPI showing the fastest pace of growth since July 2008 and core CPI rising at the swiftest clip in nearly 30 years.</p><p><blockquote><b>BLS 向消费者报告</b>7月份价格指数。经济学家预测，继 6 月份增长 5.4% 后，同比增长 5.3%。剔除波动较大的食品和能源价格的核心CPI预计将上涨4.3%，而此前为4.5%。今年，通胀及其是否是短暂的，在华尔街引发了很多讨论，6月份CPI呈现自2008年7月以来最快的增长速度，核心CPI以近30年来最快的速度上涨。</blockquote></p><p> <b>The Treasury Department</b>&nbsp;releases the monthly budget statement for July. The estimated deficit is $267 billion for the month, and $3 trillion for fiscal 2021, which ends in September. The $3 trillion would be just shy of fiscal 2020’s $3.1 trillion deficit, a record.</p><p><blockquote><b>财政部</b>发布7月份月度预算报表。预计本月赤字为 2670 亿美元，2021 财年（将于 9 月结束）赤字为 3 万亿美元。3 万亿美元将略低于 2020 财年创纪录的 3.1 万亿美元赤字。</blockquote></p><p> <h3><b>Thursday 8/12</b></h3> <a href=\"https://laohu8.com/S/ABNB\">Airbnb, Inc.</a>, <a href=\"https://laohu8.com/S/BR\">Broadridge Financial Solutions</a>,&nbsp;<a href=\"https://laohu8.com/S/BAM\">Brookfield Asset Management</a>,&nbsp;<a href=\"https://laohu8.com/S/DASH\">DoorDash, Inc.</a>, and <a href=\"https://laohu8.com/S/DIS\">Walt Disney</a> hold conference calls to discuss earnings.</p><p><blockquote><h3><b>星期四 8/12</b></h3><a href=\"https://laohu8.com/S/ABNB\">爱彼迎公司。</a>,<a href=\"https://laohu8.com/S/BR\">布罗德里奇金融解决方案</a>, <a href=\"https://laohu8.com/S/BAM\">布鲁克菲尔德资产管理公司</a>, <a href=\"https://laohu8.com/S/DASH\">DoorDash公司。</a>，和<a href=\"https://laohu8.com/S/DIS\">华特·迪士尼</a>在评级召开会议讨论收益。</blockquote></p><p> Idexx Laboratorieshosts its 2021 virtual investor day.</p><p><blockquote>Idexx实验室举办2021年虚拟投资者日。</blockquote></p><p> <b>The BLS reports the</b>&nbsp;producer price index for July. Consensus estimate is for a 0.4% month-over-month rise. The core PPI, which excludes volatile food and energy prices, is projected to increase 0.5%. The PPI and core PPI, both jumped 1% in June.</p><p><blockquote><b>BLS 报告</b>7月份生产者价格指数。普遍估计环比上涨 0.4%。剔除波动较大的食品和能源价格的核心PPI预计将上涨0.5%。6月份PPI和核心PPI均上涨1%。</blockquote></p><p> <b>The Department of Labor</b>&nbsp;reports initial jobless claims for the weekend ending on Aug. 7. In July, claims averaged 392,000 a week, slightly less than the June data. Jobless claims have trended down since peaking in the spring of 2020 but remain elevated compared with prepandemic levels.</p><p><blockquote><b>劳工部</b>报告截至 8 月 7 日的周末首次申请失业救济人数。7 月份，平均每周申请人数为 392,000 人，略低于 6 月份的数据。自 2020 年春季达到峰值以来，申请失业救济人数呈下降趋势，但与大流行前的水平相比，仍处于较高水平。</blockquote></p><p> <h3><b>Friday 8/13</b></h3> <b>The University of Michigan</b>&nbsp;releases its Consumer Sentiment index for August. Expectations are for an 81.1 reading, roughly even with the July figure.</p><p><blockquote><h3><b>8/13星期五</b></h3><b>密歇根大学</b>发布8月份消费者信心指数。预期读数为 81.1，与 7 月份的数据大致持平。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/disney-amc-coinbase-airbnb-biontech-and-other-stocks-for-investors-to-watch-this-week-51628449233?mod=hp_LEAD_4?mod=article_signInButton\">Barron's</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":{".DJI":"道琼斯","BAM":"布鲁克菲尔德资产管理","AMC":"AMC院线","COIN":"Coinbase Global, Inc.",".IXIC":"NASDAQ Composite","BR":"Broadridge金融解决方案","DIS":"迪士尼","ABNB":"爱彼迎","EBAY":"eBay",".SPX":"S&P 500 Index","PRGO":"百利高","TDG":"TransDigm"},"source_url":"https://www.barrons.com/articles/disney-amc-coinbase-airbnb-biontech-and-other-stocks-for-investors-to-watch-this-week-51628449233?mod=hp_LEAD_4?mod=article_signInButton","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162909436","content_text":"The bulk of second-quarter earnings season is in the rearview mirror, but several notable reports remain. AMC Entertainment Holdings, BioNTech, and Dish Network will be Monday’s highlights. Coinbase Global and Syscogo on Tuesday. On Wednesday, eBay will report, followed by Walt Disney, Airbnb, DoorDash, and Broadridge Financial Solutionson Thursday.\nThe week’s economic calendar will include a pair of updates each on consumer and business inflation and sentiment. On Wednesday, the Bureau of Labor Statistics will report the consumer price index for July, followed by the producer price index on Thursday. Those are expected to have increased by 5.3% and 7.3%, respectively, year over year.\nOn Tuesday, the National Federation of Independent Business will release its Small Business Optimism Index for July. And on Friday, the University of Michigan reports its Consumer Sentiment index for August. Both are forecast to hold roughly even with the prior months’ figures.\nMonday 8/9\nAir Products and Chemicals, AMC Entertainment, Barrick Gold, BioNTech SE, DISH Network, and Tyson report quarterly results.\nThe Bureau of Labor Statistics reports the Job Openings and Labor Turnover Survey for June. Economists forecast 9.1 million openings on the last business day of June, slightly less than the May figure. Job openings stand at record levels as employers struggle to fill vacant positions.\nTuesday 8/10\nThe National Federation of Independent Business reports its Small Business Optimism Index for July. Consensus estimate is for a 102.8 reading, roughly even with the June data, which was the highest since October.\nCoinbase Global, Inc., Sysco, and TransDigm announce earnings.\nThe BLS reports unit labor costs and nonfarm productivity for the second quarter. Expectations are for a rise of 0.9% in labor costs and 3.4% for productivity. This compares with increases of 1.7% and 5.4%, respectively, in the first quarter.\nWednesday 8/11\neBay and Perrigo Co PLC release quarterly results.\nThe BLS reports the consumer price index for July. Economists forecast a 5.3% increase year over year, after a gain of 5.4% in June. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.3%, compared with 4.5% previously. Inflation, and whether it is transitory, has generated much discussion on Wall Street this year, with the June CPI showing the fastest pace of growth since July 2008 and core CPI rising at the swiftest clip in nearly 30 years.\nThe Treasury Department releases the monthly budget statement for July. The estimated deficit is $267 billion for the month, and $3 trillion for fiscal 2021, which ends in September. The $3 trillion would be just shy of fiscal 2020’s $3.1 trillion deficit, a record.\nThursday 8/12\nAirbnb, Inc., Broadridge Financial Solutions, Brookfield Asset Management, DoorDash, Inc., and Walt Disney hold conference calls to discuss earnings.\nIdexx Laboratorieshosts its 2021 virtual investor day.\nThe BLS reports the producer price index for July. Consensus estimate is for a 0.4% month-over-month rise. The core PPI, which excludes volatile food and energy prices, is projected to increase 0.5%. The PPI and core PPI, both jumped 1% in June.\nThe Department of Labor reports initial jobless claims for the weekend ending on Aug. 7. In July, claims averaged 392,000 a week, slightly less than the June data. Jobless claims have trended down since peaking in the spring of 2020 but remain elevated compared with prepandemic levels.\nFriday 8/13\nThe University of Michigan releases its Consumer Sentiment index for August. Expectations are for an 81.1 reading, roughly even with the July figure.","news_type":1,"symbols_score_info":{".DJI":0.9,"DIS":0.9,".SPX":0.9,"BAM":0.9,"BR":0.9,".IXIC":0.9,"TDG":0.9,"ABNB":0.9,"AMC":0.9,"EBAY":0.9,"COIN":0.9,"PRGO":0.9}},"isVote":1,"tweetType":1,"viewCount":785,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802945901,"gmtCreate":1627711289403,"gmtModify":1633756870797,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NVDA\">$NVIDIA Corp(NVDA)$</a>not doing as well [Sad]&nbsp;","listText":"<a href=\"https://laohu8.com/S/NVDA\">$NVIDIA Corp(NVDA)$</a>not doing as well [Sad]&nbsp;","text":"$NVIDIA Corp(NVDA)$not doing as well [Sad]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802945901","repostId":"1135561812","repostType":4,"repost":{"id":"1135561812","kind":"news","pubTimestamp":1627637430,"share":"https://www.laohunote.com/m/news/1135561812?lang=zh_CN&edition=full","pubTime":"2021-07-30 17:30","market":"us","language":"en","title":"AMD: Still Growing, Still Undervalued<blockquote>AMD：仍在增长，仍被低估</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135561812","media":"seekingalpha","summary":"AMD's margin gains are driven by growing strength in end markets.AMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.AMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.The most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors  and Radeon graphic cards. The uptick in g","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>AMD's margin gains are driven by growing strength in end markets.</li>  <li>AMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.</li>  <li>The semiconductor firm could be a $6.0B free cash flow business next year, even if growth slows down.</li>  <li>AMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e6e179318de667e33987f1b4a2afb27\" tg-width=\"768\" tg-height=\"512\" width=\"100%\" height=\"auto\"><span>Jay_Zynism/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD 的利润率增长是由终端市场不断增长的实力推动的。</li><li>AMD 将 2021 财年的收入指引上调了 $1.0B，毛利率接近 50%。</li><li>即使增长放缓，这家半导体公司明年也可能成为价值 60 亿美元的自由现金流业务。</li><li>AMD 的美元销售额增长比 Nvidia 便宜，而且 AMD 甚至可能增长得更快。</li></ul><p class=\"t-img-caption\"><span>Jay_Zynism/iStock 来自盖蒂图片社</span></p></blockquote></p><p> AMD (AMD) made a splash yesterday after the semiconductor company reported growth and margins that were even better than what was expected. AMD’s revenue acceleration and strong gross margin expansion make a strong case for upside in the stock.</p><p><blockquote>AMD (AMD) 昨天引起了轰动，这家半导体公司公布的增长和利润率甚至好于预期。AMD 的收入加速增长和毛利率的强劲扩张为该股上涨提供了有力的理由。</blockquote></p><p> <b>Why AMD is worth $120</b></p><p><blockquote><b>为什么 AMD 值 120 美元</b></blockquote></p><p> Before I dive into AMD’s latestresults, let’s quickly recap what the firm’s guidance was for the last quarter. For Q2’21, AMD expected a minimum of $3.5B in revenues with “high case” guidance implying 7% revenue growth Q/Q and a gross margin of 47%.</p><p><blockquote>在深入探讨 AMD 的最新业绩之前，让我们快速回顾一下该公司上一季度的业绩指引。AMD 预计 21 年第二季度的收入至少为 35 亿美元，“高情况 ”指导意味着收入环比增长 7%，毛利率为 47%。</blockquote></p><p> I expected AMD’s revenues to hit the high end of guidance ($3.7B), to have a minimum free cash flow of $895M (8% Q/Q growth) and a free cash flow margin of 24%. Given the acceleration of sales in higher-priced Ryzen desktop and notebook processors and GPUs as well as higher average selling prices/ASPs driven by broad-based strength in end markets, I expected AMD to beat its own margin guidance and report a gross margin of 48% for Q2’21. I also predicted a refreshment of AMD’s gross margin guidance due to strength in CPU and GPU ASPs. I laid out my forecast for AMD’s Q2’21 earnings in detail inAMD: On The Road To $5 Billion In Annual Free Cash Flow.</p><p><blockquote>我预计 AMD 的收入将达到指导的上限（37 亿美元），最低自由现金流为 8.95 亿美元（环比增长 8%），自由现金流利润率为 24%。鉴于高价 Ryzen 台式机和笔记本电脑处理器和 GPU 的销售加速，以及终端市场广泛实力推动的平均售价/平均售价上涨，我预计 AMD 将超出自己的利润率指导，在 21 年第二季度的毛利率为 48%。我还预测，由于 CPU 和 GPU 平均售价的强劲，AMD 的毛利率指引将会更新。我在《AMD: 年自由现金流迈向 50 亿美元》一书中详细阐述了我对 AMD 21 年第二季度收益的预测。</blockquote></p><p> Turning to AMD’s actual results, the semiconductor firm proved once more that it is firing on all cylinders. AMD’s Q2’21 revenues were $3,850M, $150M above the high-end of guidance and up 12% Q/Q, with revenue momentum continuing in both Graphics/Computing and Enterprise markets. Graphics/Computing revenues increased 7% Q/Q to $2,250M because of higher client and graphic processor sales as well as strengthening ASPs. Enterprise, which has become the driver of AMD’s sales growth in recent quarters, saw Q2'21 revenues of $1.6B, up 19% Q/Q. Enterprise revenues continued to accelerate in Q2'21, after AMD recorded 5% Q/Q revenue growth in Q1'21.</p><p><blockquote>从 AMD 的实际业绩来看，这家半导体公司再次证明了它正在全力以赴。AMD 21 年第二季度收入为 38.5 亿美元，比高端指引高出 1.5 亿美元，环比增长 12%，图形/计算和企业市场的收入势头仍在继续。由于客户端和图形处理器销售额的增长以及平均售价的增强，图形/计算收入环比增长 7%，达到 22.5 亿美元。Enterprise 已成为 AMD 近几个季度销售增长的驱动力，21 年第二季度的收入为 16 亿美元，环比增长 19%。继 AMD 在 21 年第一季度实现 5% 的环比收入增长后，21 年第二季度企业收入继续加速增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3ec3e9d1f0b7d59915f9db8790725803\" tg-width=\"1039\" tg-height=\"587\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> The most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors (both mobile and desktop) and Radeon graphic cards. The uptick in gross margins in Q2’21 marked the third straight quarter of margin expansion for AMD and I don’t believe AMD has seen the end of this trend yet.</p><p><blockquote>不过，AMD 21 年第二季度财报中最有趣的发现是毛利率的趋势。AMD 的毛利率跃升 4 个百分点，达到 48%，比指导高出 1 个百分点，原因是价格较高的 Ryzen 处理器（移动和台式机）和 Radeon 显卡的更好组合。21 年第二季度毛利率的上升标志着 AMD 连续第三个季度利润率扩张，我认为 AMD 还没有看到这一趋势的终结。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dca6426ffa1332827a6774554d499c36\" tg-width=\"1048\" tg-height=\"566\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> Turning to cash flow.</p><p><blockquote>转向现金流。</blockquote></p><p> AMD reported cash flow from operating activities of $952M and free cash flow of $888M, $7M short of my expectation, but still almost six times more than a year ago. As AMD continues to see strong revenue growth tailwinds in both Computing/Graphics and Enterprise end markets, I believe AMD could grow its free cash flow margin to 30% by the end of next year. AMD raised its revenue guidance for FY 2021 (discussed later) by $1.0B which means I am also refreshing my free cash flow expectations for this year and next year.</p><p><blockquote>AMD 报告的经营活动现金流为 9.52 亿美元，自由现金流为 8.88 亿美元，比我的预期少了 700 万美元，但仍几乎是一年前的六倍。随着 AMD 在计算/图形和企业终端市场继续看到强劲的收入增长，我相信到明年年底，AMD 的自由现金流利润率可能会增长到 30%。AMD 将 2021 财年的收入指引（稍后讨论）上调了 $1.0B，这意味着我也在更新今年和明年的自由现金流预期。</blockquote></p><p> AMD expects to have revenues of $15.6B this year. Assuming a stable free cash flow margin of 23-24%, AMD is looking at free cash flow of $3.6B to $3.7B. Revenue estimates for next year are not refreshed yet, but AMD should have revenues of at least $20B in FY 2022 (assuming 25% Y/Y growth), implying free cash flow of $4.6B to $4.8B next year… and these estimates do not account for the possibility that AMD’s 3rd-gen EPYC Milan-powered server processors and higher-priced GPUs improve AMD’s free cash flow margin. A 30% free cash flow margin next year implies a free cash flow of $6.0B.</p><p><blockquote>AMD 预计今年的收入为 15.6B 美元。假设自由现金流利润率稳定在 23-24%，AMD 预计自由现金流为 $3.6B 至 $3.7B。明年的收入预测尚未更新，但 AMD 在 2022 财年的收入至少应为 200 亿美元（假设同比增长 25%），这意味着明年的自由现金流将达到 46 亿至 48 亿美元.这些预测并没有考虑到 AMD 第三代 EPYC Milan 服务器处理器和价格更高的 GPU 可能会提高 AMD 的自由现金流利润率。明年 30% 的自由现金流利润率意味着自由现金流为 $6.0B。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ea23b7429f2edd8ce6dda945a88daa7\" tg-width=\"819\" tg-height=\"593\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> AMD is guiding for $4.1B in revenues +/- $100 million and the firm refreshed its FY 2021 revenue and gross margin guidance (as predicted). AMD now expects 60% revenue growth for FY 2021 (before 50%) and a gross margin of 48% (before 47%). Assuming 60% revenue growth, AMD is now looking at full year revenues of $15.6B (before $14.6B), so AMD's new guidance calls for $1.0B in additional revenues that were so far not priced into AMD’s market value.</p><p><blockquote><table><tbody><tr></tr></tbody></table>AMD 的收入指引为 4.1B 美元 +/- 1 亿美元，该公司更新了 2021 财年收入和毛利率指引（如预期）。AMD 目前预计 2021 财年收入增长 60%（之前为 50%），毛利率为 48%（之前为 47%）。假设收入增长 60%，AMD 目前的全年收入为 156 亿美元（之前为 146 亿美元），因此 AMD 的新指导评级为 10 亿美元的额外收入，而到目前为止，这些收入还没有计入 AMD 的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e5c3c579e4a6472ae2c495a325b9a2b\" tg-width=\"1038\" tg-height=\"572\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> AMD’s higher gross margins and sales guidance create a potent force for the firm’s stock to revalue higher. Because of the recent dip in AMD’s shares and the addition of $1.0B in revenues, AMD’s dollar sales growth has become even cheaper after earnings. AMD’s dollar sales growth is valued lower than Nvidia’s and AMD is growing potentially at a faster rate: AMD's revenue guidance calls for 60% Y/Y growth and estimates for Nvidia imply \"only\" 49% Y/Y revenue growth for FY 2021. AMD has a market-capitalization-to-earnings ratio of 42.5 which is low for a firm that grows revenues 60% and that has a gross margin closing in on 50%.</p><p><blockquote>AMD 较高的毛利率和销售指引为该公司股票的估值创造了强大的动力。由于 AMD 股价最近下跌，以及 10 亿美元收入的增加，AMD 的美元销售额增长在财报公布后变得更加便宜。AMD 的美元销售额增长率低于 Nvidia，而且 AMD 的增长速度可能会更快： AMD 的收入指导评级为同比增长 60%，而对 Nvidia 的预测则意味着 2021 财年的收入 “仅 ”同比增长 49%。AMD 的市值与收益比为 42.5，对于一家收入增长 60%、毛利率接近 50% 的公司来说，这个比率很低。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/653c9dd9d37a4abd742703bd87dd3534\" tg-width=\"908\" tg-height=\"312\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Nvidia’s P-E ratio based on an FY 2022 EPS of $17.29 is 44.5. If AMD earnings growth (FY 2022 EPS of $2.71) was valued the same as Nvidia’s, AMD’s fair price would be $120 ($2.71 x 44.5 earnings multiplier factor), indicating 17% upside.</p><p><blockquote><table><tbody><tr></tr></tbody></table>根据 2022 财年每股收益 17.29 美元计算，英伟达的市盈率为 44.5。如果 AMD 的盈利增长（2022 财年每股收益为 2.71 美元）与 Nvidia 的估值相同，AMD 的公允价格将为 120 美元（2.71 美元 x 44.5 盈利乘数系数），表明上涨空间为 17%。</blockquote></p><p> <b>Challenges to my price target</b></p><p><blockquote><b>我的价格目标面临的挑战</b></blockquote></p><p> The biggest opportunities and the biggest risks for AMD are tied to gross margins. AMD is having a year of strong revenue acceleration and margin growth, which is the chief reason why I believe AMD can revalue higher. But gross margins can't grow 3-4 PP every quarter. If AMD's gross margin expansion slows, or worse, gross margins drop back to 40%, decreasing stock returns for AMD are likely. A reversal in the gross margin trend would change my opinion on AMD and put my $120 stock price target in jeopardy.</p><p><blockquote>AMD 最大的机遇和最大的风险都与毛利率有关。AMD 今年的收入加速和利润率增长强劲，这也是我相信 AMD 可以进行更高估值的主要原因。但毛利率不可能每个季度增长 3-4 个百分点。如果 AMD 的毛利率扩张放缓，或者更糟的是，毛利率回落至 40%，AMD 的股票回报率可能会下降。毛利率趋势的逆转将改变我对 AMD 的看法，并使我 120 美元的股价目标处于危险之中。</blockquote></p><p> Softening ASPs for CPUs and graphic chips are likely going to be the canary in the coal mine and could indicate weakening end markets for AMD ahead of time. Softer end markets imply AMD's revenue growth will slow which could result in a lower earnings multiplier factor by which AMD's profits are valued. I don't believe AMD is overvalued based on earnings, but the market may disagree with my assessment at any time.</p><p><blockquote>CPU 和图形芯片的平均售价疲软可能会成为煤矿中的金丝雀，并可能预示着 AMD 的终端市场疲软。终端市场疲软意味着 AMD 的收入增长将放缓，这可能导致 AMD 利润估值的盈利乘数系数降低。我不认为AMD基于盈利被高估，但市场可能随时不同意我的评估。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> AMD reported impressive revenue growth and gross margins for Q2. AMD's raised guidance and Q/Q revenue acceleration indicate that end markets for CPUs and GPUs are a lot stronger than expected. This could lead to another year of revenue acceleration and a continual expansion of AMD’s gross margin to 50%, supported by rising ASPs. AMD's risk profile is still heavily skewed to the upside.</p><p><blockquote>AMD 报告第二季度收入增长和毛利率令人印象深刻。AMD 上调的指引和环比收入加速表明 CPU 和 GPU 的终端市场比预期强劲得多。这可能会导致 AMD 的收入再次加速增长，并在平均售价上升的支撑下，继续扩大到 50%。AMD 的风险状况仍然严重偏向上行。</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: Still Growing, Still Undervalued<blockquote>AMD：仍在增长，仍被低估</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\">\nAMD: Still Growing, Still Undervalued<blockquote>AMD：仍在增长，仍被低估</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-30 17:30</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 margin gains are driven by growing strength in end markets.</li>  <li>AMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.</li>  <li>The semiconductor firm could be a $6.0B free cash flow business next year, even if growth slows down.</li>  <li>AMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e6e179318de667e33987f1b4a2afb27\" tg-width=\"768\" tg-height=\"512\" width=\"100%\" height=\"auto\"><span>Jay_Zynism/iStock via Getty Images</span></p><p><blockquote><ul><li>AMD 的利润率增长是由终端市场不断增长的实力推动的。</li><li>AMD 将 2021 财年的收入指引上调了 $1.0B，毛利率接近 50%。</li><li>即使增长放缓，这家半导体公司明年也可能成为价值 60 亿美元的自由现金流业务。</li><li>AMD 的美元销售额增长比 Nvidia 便宜，而且 AMD 甚至可能增长得更快。</li></ul><p class=\"t-img-caption\"><span>Jay_Zynism/iStock 来自盖蒂图片社</span></p></blockquote></p><p> AMD (AMD) made a splash yesterday after the semiconductor company reported growth and margins that were even better than what was expected. AMD’s revenue acceleration and strong gross margin expansion make a strong case for upside in the stock.</p><p><blockquote>AMD (AMD) 昨天引起了轰动，这家半导体公司公布的增长和利润率甚至好于预期。AMD 的收入加速增长和毛利率的强劲扩张为该股上涨提供了有力的理由。</blockquote></p><p> <b>Why AMD is worth $120</b></p><p><blockquote><b>为什么 AMD 值 120 美元</b></blockquote></p><p> Before I dive into AMD’s latestresults, let’s quickly recap what the firm’s guidance was for the last quarter. For Q2’21, AMD expected a minimum of $3.5B in revenues with “high case” guidance implying 7% revenue growth Q/Q and a gross margin of 47%.</p><p><blockquote>在深入探讨 AMD 的最新业绩之前，让我们快速回顾一下该公司上一季度的业绩指引。AMD 预计 21 年第二季度的收入至少为 35 亿美元，“高情况 ”指导意味着收入环比增长 7%，毛利率为 47%。</blockquote></p><p> I expected AMD’s revenues to hit the high end of guidance ($3.7B), to have a minimum free cash flow of $895M (8% Q/Q growth) and a free cash flow margin of 24%. Given the acceleration of sales in higher-priced Ryzen desktop and notebook processors and GPUs as well as higher average selling prices/ASPs driven by broad-based strength in end markets, I expected AMD to beat its own margin guidance and report a gross margin of 48% for Q2’21. I also predicted a refreshment of AMD’s gross margin guidance due to strength in CPU and GPU ASPs. I laid out my forecast for AMD’s Q2’21 earnings in detail inAMD: On The Road To $5 Billion In Annual Free Cash Flow.</p><p><blockquote>我预计 AMD 的收入将达到指导的上限（37 亿美元），最低自由现金流为 8.95 亿美元（环比增长 8%），自由现金流利润率为 24%。鉴于高价 Ryzen 台式机和笔记本电脑处理器和 GPU 的销售加速，以及终端市场广泛实力推动的平均售价/平均售价上涨，我预计 AMD 将超出自己的利润率指导，在 21 年第二季度的毛利率为 48%。我还预测，由于 CPU 和 GPU 平均售价的强劲，AMD 的毛利率指引将会更新。我在《AMD: 年自由现金流迈向 50 亿美元》一书中详细阐述了我对 AMD 21 年第二季度收益的预测。</blockquote></p><p> Turning to AMD’s actual results, the semiconductor firm proved once more that it is firing on all cylinders. AMD’s Q2’21 revenues were $3,850M, $150M above the high-end of guidance and up 12% Q/Q, with revenue momentum continuing in both Graphics/Computing and Enterprise markets. Graphics/Computing revenues increased 7% Q/Q to $2,250M because of higher client and graphic processor sales as well as strengthening ASPs. Enterprise, which has become the driver of AMD’s sales growth in recent quarters, saw Q2'21 revenues of $1.6B, up 19% Q/Q. Enterprise revenues continued to accelerate in Q2'21, after AMD recorded 5% Q/Q revenue growth in Q1'21.</p><p><blockquote>从 AMD 的实际业绩来看，这家半导体公司再次证明了它正在全力以赴。AMD 21 年第二季度收入为 38.5 亿美元，比高端指引高出 1.5 亿美元，环比增长 12%，图形/计算和企业市场的收入势头仍在继续。由于客户端和图形处理器销售额的增长以及平均售价的增强，图形/计算收入环比增长 7%，达到 22.5 亿美元。Enterprise 已成为 AMD 近几个季度销售增长的驱动力，21 年第二季度的收入为 16 亿美元，环比增长 19%。继 AMD 在 21 年第一季度实现 5% 的环比收入增长后，21 年第二季度企业收入继续加速增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3ec3e9d1f0b7d59915f9db8790725803\" tg-width=\"1039\" tg-height=\"587\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> The most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors (both mobile and desktop) and Radeon graphic cards. The uptick in gross margins in Q2’21 marked the third straight quarter of margin expansion for AMD and I don’t believe AMD has seen the end of this trend yet.</p><p><blockquote>不过，AMD 21 年第二季度财报中最有趣的发现是毛利率的趋势。AMD 的毛利率跃升 4 个百分点，达到 48%，比指导高出 1 个百分点，原因是价格较高的 Ryzen 处理器（移动和台式机）和 Radeon 显卡的更好组合。21 年第二季度毛利率的上升标志着 AMD 连续第三个季度利润率扩张，我认为 AMD 还没有看到这一趋势的终结。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dca6426ffa1332827a6774554d499c36\" tg-width=\"1048\" tg-height=\"566\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> Turning to cash flow.</p><p><blockquote>转向现金流。</blockquote></p><p> AMD reported cash flow from operating activities of $952M and free cash flow of $888M, $7M short of my expectation, but still almost six times more than a year ago. As AMD continues to see strong revenue growth tailwinds in both Computing/Graphics and Enterprise end markets, I believe AMD could grow its free cash flow margin to 30% by the end of next year. AMD raised its revenue guidance for FY 2021 (discussed later) by $1.0B which means I am also refreshing my free cash flow expectations for this year and next year.</p><p><blockquote>AMD 报告的经营活动现金流为 9.52 亿美元，自由现金流为 8.88 亿美元，比我的预期少了 700 万美元，但仍几乎是一年前的六倍。随着 AMD 在计算/图形和企业终端市场继续看到强劲的收入增长，我相信到明年年底，AMD 的自由现金流利润率可能会增长到 30%。AMD 将 2021 财年的收入指引（稍后讨论）上调了 $1.0B，这意味着我也在更新今年和明年的自由现金流预期。</blockquote></p><p> AMD expects to have revenues of $15.6B this year. Assuming a stable free cash flow margin of 23-24%, AMD is looking at free cash flow of $3.6B to $3.7B. Revenue estimates for next year are not refreshed yet, but AMD should have revenues of at least $20B in FY 2022 (assuming 25% Y/Y growth), implying free cash flow of $4.6B to $4.8B next year… and these estimates do not account for the possibility that AMD’s 3rd-gen EPYC Milan-powered server processors and higher-priced GPUs improve AMD’s free cash flow margin. A 30% free cash flow margin next year implies a free cash flow of $6.0B.</p><p><blockquote>AMD 预计今年的收入为 15.6B 美元。假设自由现金流利润率稳定在 23-24%，AMD 预计自由现金流为 $3.6B 至 $3.7B。明年的收入预测尚未更新，但 AMD 在 2022 财年的收入至少应为 200 亿美元（假设同比增长 25%），这意味着明年的自由现金流将达到 46 亿至 48 亿美元.这些预测并没有考虑到 AMD 第三代 EPYC Milan 服务器处理器和价格更高的 GPU 可能会提高 AMD 的自由现金流利润率。明年 30% 的自由现金流利润率意味着自由现金流为 $6.0B。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ea23b7429f2edd8ce6dda945a88daa7\" tg-width=\"819\" tg-height=\"593\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> AMD is guiding for $4.1B in revenues +/- $100 million and the firm refreshed its FY 2021 revenue and gross margin guidance (as predicted). AMD now expects 60% revenue growth for FY 2021 (before 50%) and a gross margin of 48% (before 47%). Assuming 60% revenue growth, AMD is now looking at full year revenues of $15.6B (before $14.6B), so AMD's new guidance calls for $1.0B in additional revenues that were so far not priced into AMD’s market value.</p><p><blockquote><table><tbody><tr></tr></tbody></table>AMD 的收入指引为 4.1B 美元 +/- 1 亿美元，该公司更新了 2021 财年收入和毛利率指引（如预期）。AMD 目前预计 2021 财年收入增长 60%（之前为 50%），毛利率为 48%（之前为 47%）。假设收入增长 60%，AMD 目前的全年收入为 156 亿美元（之前为 146 亿美元），因此 AMD 的新指导评级为 10 亿美元的额外收入，而到目前为止，这些收入还没有计入 AMD 的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e5c3c579e4a6472ae2c495a325b9a2b\" tg-width=\"1038\" tg-height=\"572\" width=\"100%\" height=\"auto\"><span>(Source:AMD)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：AMD）</span></p></blockquote></p><p> AMD’s higher gross margins and sales guidance create a potent force for the firm’s stock to revalue higher. Because of the recent dip in AMD’s shares and the addition of $1.0B in revenues, AMD’s dollar sales growth has become even cheaper after earnings. AMD’s dollar sales growth is valued lower than Nvidia’s and AMD is growing potentially at a faster rate: AMD's revenue guidance calls for 60% Y/Y growth and estimates for Nvidia imply \"only\" 49% Y/Y revenue growth for FY 2021. AMD has a market-capitalization-to-earnings ratio of 42.5 which is low for a firm that grows revenues 60% and that has a gross margin closing in on 50%.</p><p><blockquote>AMD 较高的毛利率和销售指引为该公司股票的估值创造了强大的动力。由于 AMD 股价最近下跌，以及 10 亿美元收入的增加，AMD 的美元销售额增长在财报公布后变得更加便宜。AMD 的美元销售额增长率低于 Nvidia，而且 AMD 的增长速度可能会更快： AMD 的收入指导评级为同比增长 60%，而对 Nvidia 的预测则意味着 2021 财年的收入 “仅 ”同比增长 49%。AMD 的市值与收益比为 42.5，对于一家收入增长 60%、毛利率接近 50% 的公司来说，这个比率很低。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/653c9dd9d37a4abd742703bd87dd3534\" tg-width=\"908\" tg-height=\"312\" width=\"100%\" height=\"auto\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <table>  <tbody>   <tr></tr>  </tbody> </table> Nvidia’s P-E ratio based on an FY 2022 EPS of $17.29 is 44.5. If AMD earnings growth (FY 2022 EPS of $2.71) was valued the same as Nvidia’s, AMD’s fair price would be $120 ($2.71 x 44.5 earnings multiplier factor), indicating 17% upside.</p><p><blockquote><table><tbody><tr></tr></tbody></table>根据 2022 财年每股收益 17.29 美元计算，英伟达的市盈率为 44.5。如果 AMD 的盈利增长（2022 财年每股收益为 2.71 美元）与 Nvidia 的估值相同，AMD 的公允价格将为 120 美元（2.71 美元 x 44.5 盈利乘数系数），表明上涨空间为 17%。</blockquote></p><p> <b>Challenges to my price target</b></p><p><blockquote><b>我的价格目标面临的挑战</b></blockquote></p><p> The biggest opportunities and the biggest risks for AMD are tied to gross margins. AMD is having a year of strong revenue acceleration and margin growth, which is the chief reason why I believe AMD can revalue higher. But gross margins can't grow 3-4 PP every quarter. If AMD's gross margin expansion slows, or worse, gross margins drop back to 40%, decreasing stock returns for AMD are likely. A reversal in the gross margin trend would change my opinion on AMD and put my $120 stock price target in jeopardy.</p><p><blockquote>AMD 最大的机遇和最大的风险都与毛利率有关。AMD 今年的收入加速和利润率增长强劲，这也是我相信 AMD 可以进行更高估值的主要原因。但毛利率不可能每个季度增长 3-4 个百分点。如果 AMD 的毛利率扩张放缓，或者更糟的是，毛利率回落至 40%，AMD 的股票回报率可能会下降。毛利率趋势的逆转将改变我对 AMD 的看法，并使我 120 美元的股价目标处于危险之中。</blockquote></p><p> Softening ASPs for CPUs and graphic chips are likely going to be the canary in the coal mine and could indicate weakening end markets for AMD ahead of time. Softer end markets imply AMD's revenue growth will slow which could result in a lower earnings multiplier factor by which AMD's profits are valued. I don't believe AMD is overvalued based on earnings, but the market may disagree with my assessment at any time.</p><p><blockquote>CPU 和图形芯片的平均售价疲软可能会成为煤矿中的金丝雀，并可能预示着 AMD 的终端市场疲软。终端市场疲软意味着 AMD 的收入增长将放缓，这可能导致 AMD 利润估值的盈利乘数系数降低。我不认为AMD基于盈利被高估，但市场可能随时不同意我的评估。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> AMD reported impressive revenue growth and gross margins for Q2. AMD's raised guidance and Q/Q revenue acceleration indicate that end markets for CPUs and GPUs are a lot stronger than expected. This could lead to another year of revenue acceleration and a continual expansion of AMD’s gross margin to 50%, supported by rising ASPs. AMD's risk profile is still heavily skewed to the upside.</p><p><blockquote>AMD 报告第二季度收入增长和毛利率令人印象深刻。AMD 上调的指引和环比收入加速表明 CPU 和 GPU 的终端市场比预期强劲得多。这可能会导致 AMD 的收入再次加速增长，并在平均售价上升的支撑下，继续扩大到 50%。AMD 的风险状况仍然严重偏向上行。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4442955-amd-still-growing-still-undervalued\">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":"","relate_stocks":{"AMD":"美国超微公司"},"source_url":"https://seekingalpha.com/article/4442955-amd-still-growing-still-undervalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135561812","content_text":"Summary\n\nAMD's margin gains are driven by growing strength in end markets.\nAMD raised its revenue guidance by $1.0B for FY 2021 and gross margins are edging closer to 50%.\nThe semiconductor firm could be a $6.0B free cash flow business next year, even if growth slows down.\nAMD's dollar sales growth is cheaper than Nvidia's and AMD might even grow faster.\n\nJay_Zynism/iStock via Getty Images\nAMD (AMD) made a splash yesterday after the semiconductor company reported growth and margins that were even better than what was expected. AMD’s revenue acceleration and strong gross margin expansion make a strong case for upside in the stock.\nWhy AMD is worth $120\nBefore I dive into AMD’s latestresults, let’s quickly recap what the firm’s guidance was for the last quarter. For Q2’21, AMD expected a minimum of $3.5B in revenues with “high case” guidance implying 7% revenue growth Q/Q and a gross margin of 47%.\nI expected AMD’s revenues to hit the high end of guidance ($3.7B), to have a minimum free cash flow of $895M (8% Q/Q growth) and a free cash flow margin of 24%. Given the acceleration of sales in higher-priced Ryzen desktop and notebook processors and GPUs as well as higher average selling prices/ASPs driven by broad-based strength in end markets, I expected AMD to beat its own margin guidance and report a gross margin of 48% for Q2’21. I also predicted a refreshment of AMD’s gross margin guidance due to strength in CPU and GPU ASPs. I laid out my forecast for AMD’s Q2’21 earnings in detail inAMD: On The Road To $5 Billion In Annual Free Cash Flow.\nTurning to AMD’s actual results, the semiconductor firm proved once more that it is firing on all cylinders. AMD’s Q2’21 revenues were $3,850M, $150M above the high-end of guidance and up 12% Q/Q, with revenue momentum continuing in both Graphics/Computing and Enterprise markets. Graphics/Computing revenues increased 7% Q/Q to $2,250M because of higher client and graphic processor sales as well as strengthening ASPs. Enterprise, which has become the driver of AMD’s sales growth in recent quarters, saw Q2'21 revenues of $1.6B, up 19% Q/Q. Enterprise revenues continued to accelerate in Q2'21, after AMD recorded 5% Q/Q revenue growth in Q1'21.\n(Source:AMD)\nThe most interesting revelation of AMD’s Q2’21 earnings, however, was the trend in gross margins. AMD's gross margin jumped 4 PP to 48%, 1 PP above guidance because of a better mix of higher-priced Ryzen processors (both mobile and desktop) and Radeon graphic cards. The uptick in gross margins in Q2’21 marked the third straight quarter of margin expansion for AMD and I don’t believe AMD has seen the end of this trend yet.\n(Source:AMD)\nTurning to cash flow.\nAMD reported cash flow from operating activities of $952M and free cash flow of $888M, $7M short of my expectation, but still almost six times more than a year ago. As AMD continues to see strong revenue growth tailwinds in both Computing/Graphics and Enterprise end markets, I believe AMD could grow its free cash flow margin to 30% by the end of next year. AMD raised its revenue guidance for FY 2021 (discussed later) by $1.0B which means I am also refreshing my free cash flow expectations for this year and next year.\nAMD expects to have revenues of $15.6B this year. Assuming a stable free cash flow margin of 23-24%, AMD is looking at free cash flow of $3.6B to $3.7B. Revenue estimates for next year are not refreshed yet, but AMD should have revenues of at least $20B in FY 2022 (assuming 25% Y/Y growth), implying free cash flow of $4.6B to $4.8B next year… and these estimates do not account for the possibility that AMD’s 3rd-gen EPYC Milan-powered server processors and higher-priced GPUs improve AMD’s free cash flow margin. A 30% free cash flow margin next year implies a free cash flow of $6.0B.\n(Source: Author)\n\n\n\n\n\nAMD is guiding for $4.1B in revenues +/- $100 million and the firm refreshed its FY 2021 revenue and gross margin guidance (as predicted). AMD now expects 60% revenue growth for FY 2021 (before 50%) and a gross margin of 48% (before 47%). Assuming 60% revenue growth, AMD is now looking at full year revenues of $15.6B (before $14.6B), so AMD's new guidance calls for $1.0B in additional revenues that were so far not priced into AMD’s market value.\n(Source:AMD)\nAMD’s higher gross margins and sales guidance create a potent force for the firm’s stock to revalue higher. Because of the recent dip in AMD’s shares and the addition of $1.0B in revenues, AMD’s dollar sales growth has become even cheaper after earnings. AMD’s dollar sales growth is valued lower than Nvidia’s and AMD is growing potentially at a faster rate: AMD's revenue guidance calls for 60% Y/Y growth and estimates for Nvidia imply \"only\" 49% Y/Y revenue growth for FY 2021. AMD has a market-capitalization-to-earnings ratio of 42.5 which is low for a firm that grows revenues 60% and that has a gross margin closing in on 50%.\n(Source: Author)\n\n\n\n\n\nNvidia’s P-E ratio based on an FY 2022 EPS of $17.29 is 44.5. If AMD earnings growth (FY 2022 EPS of $2.71) was valued the same as Nvidia’s, AMD’s fair price would be $120 ($2.71 x 44.5 earnings multiplier factor), indicating 17% upside.\nChallenges to my price target\nThe biggest opportunities and the biggest risks for AMD are tied to gross margins. AMD is having a year of strong revenue acceleration and margin growth, which is the chief reason why I believe AMD can revalue higher. But gross margins can't grow 3-4 PP every quarter. If AMD's gross margin expansion slows, or worse, gross margins drop back to 40%, decreasing stock returns for AMD are likely. A reversal in the gross margin trend would change my opinion on AMD and put my $120 stock price target in jeopardy.\nSoftening ASPs for CPUs and graphic chips are likely going to be the canary in the coal mine and could indicate weakening end markets for AMD ahead of time. Softer end markets imply AMD's revenue growth will slow which could result in a lower earnings multiplier factor by which AMD's profits are valued. I don't believe AMD is overvalued based on earnings, but the market may disagree with my assessment at any time.\nFinal thoughts\nAMD reported impressive revenue growth and gross margins for Q2. AMD's raised guidance and Q/Q revenue acceleration indicate that end markets for CPUs and GPUs are a lot stronger than expected. This could lead to another year of revenue acceleration and a continual expansion of AMD’s gross margin to 50%, supported by rising ASPs. AMD's risk profile is still heavily skewed to the upside.","news_type":1,"symbols_score_info":{"AMD":0.9}},"isVote":1,"tweetType":1,"viewCount":649,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834018217,"gmtCreate":1629762088639,"gmtModify":1633682700875,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>can it sustain ?","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>can it sustain ?","text":"$NIO Inc.(NIO)$can it sustain ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/834018217","repostId":"1103523722","repostType":4,"repost":{"id":"1103523722","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1629726550,"share":"https://www.laohunote.com/m/news/1103523722?lang=zh_CN&edition=full","pubTime":"2021-08-23 21:49","market":"us","language":"en","title":"EV stocks surged in Monday morning trading<blockquote>周一早盘交易中电动汽车股飙升</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103523722","media":"Tiger Newspress","summary":"EV stocks surged in Monday morning trading.Tesla,Nio and Li Auto shares rose more than 2%.Tesla has officially started Model Y deliveries in Europe.It was a long wait for customers and interestingly, the first deliveries were achieved through a change in strategy for Tesla.Tesla first unveiled the Model Y in March of 2020 and delivered the first units of the electric SUV in the US almost exactly a year later.Like any new introduction from Tesla, European buyers generally have to wait until Fremo","content":"<p>EV stocks surged in Monday morning trading.Tesla,Nio&nbsp;and Li Auto&nbsp;shares&nbsp;rose&nbsp;more&nbsp;than&nbsp;2%.</p><p><blockquote>电动汽车股在周一早盘交易中飙升。特斯拉、蔚来汽车和理想汽车股价上涨超过2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9b189db1a61970659fe3cfa28abccaea\" tg-width=\"360\" tg-height=\"722\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla&nbsp;has officially started Model Y deliveries in Europe.</p><p><blockquote>特斯拉已正式开始在欧洲交付 Model Y。</blockquote></p><p> It was a long wait for customers and interestingly, the first deliveries were achieved through a change in strategy for Tesla.</p><p><blockquote>对于客户来说，这是一个漫长的等待，有趣的是，第一批交付是通过特斯拉战略的改变实现的。</blockquote></p><p> Tesla first unveiled the Model Y in March of 2020 and delivered the first units of the electric SUV in the US almost exactly a year later.</p><p><blockquote>特斯拉于 2020 年 3 月首次推出 Model Y，并在几乎整整一年后在美国交付了第一批电动 SUV。</blockquote></p><p> Like any new introduction from Tesla, European buyers generally have to wait until Fremont factory starts producing batches of European versions of the new cars and ships them to the old continent.</p><p><blockquote>与特斯拉推出的任何新车一样，欧洲买家通常必须等到弗里蒙特工厂开始生产批量欧洲版新车并将其运往旧大陆。</blockquote></p><p> However, the automaker announced a change in strategy to introduce Model Y in Europe and China.</p><p><blockquote>然而，该汽车制造商宣布改变战略，在欧洲和中国推出 Model Y。</blockquote></p><p> Tesla said that it would only start deliveries in those markets after achieving new local production at Gigafactory Shanghai and Gigafactory Berlin.</p><p><blockquote>特斯拉表示，只有在上海超级工厂和柏林超级工厂实现新的本地生产后，才会开始在这些市场交付。</blockquote></p><p> This was achieved in a record time in China, and&nbsp;Tesla started Model Y deliveries in the market earlier this year.</p><p><blockquote>这是在创纪录的时间内实现的，特斯拉今年早些时候开始在市场上交付Model Y。</blockquote></p><p> It has been a different story in Europe.</p><p><blockquote>在欧洲则是另一回事。</blockquote></p><p> Tesla has run into some challenges in starting production at Gigafactory Berlin, and the timeline has shifted from July 2021 to October 2021.</p><p><blockquote>特斯拉在 Gigafactory Berlin 开始生产时遇到了一些挑战，时间表已从 2021 年 7 月转移到 2021 年 10 月。</blockquote></p><p> But instead of waiting to start deliveries of the new Model Y, Tesla has decided to export Model Y vehicles produced at Gigafactory Shanghai to European markets.</p><p><blockquote>但特斯拉并没有等待开始交付新款 Model Y，而是决定将上海超级工厂生产的 Model Y 汽车出口到欧洲市场。</blockquote></p><p> We recently reported that&nbsp;Tesla exported over 8,000 Model Ys from China last month, with most of them expected to come to Europe.</p><p><blockquote>我们最近报道称，特斯拉上个月从中国出口了8000多辆Model Y，其中大部分预计将运往欧洲。</blockquote></p><p> They werespotted for the first timetwo weeks ago.</p><p><blockquote>两周前他们第一次被发现。</blockquote></p><p> Now we can confirm that Tesla has officially started Model Y deliveries in Europe.</p><p><blockquote>现在我们可以确认特斯拉已正式开始在欧洲交付 Model Y。</blockquote></p><p> Can Dogan, a senior Tesla advisor at the store and service center inDortmund, Germany, posted a picture of the first European Model Y delivery on&nbsp;LinkedIn:</p><p><blockquote>德国多特蒙德商店和服务中心的高级特斯拉顾问 Can Dogan 在 LinkedIn 上发布了第一张欧洲 Model Y 交付的照片：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ba472849be1800fdf041761fe34f58ba\" tg-width=\"1478\" tg-height=\"1108\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The electric vehicle has also been spotted in several other European markets, like Norway and the Netherlands, where deliveries are also expected to start soon.</p><p><blockquote>这款电动汽车也出现在挪威和荷兰等其他几个欧洲市场，预计也将很快开始交付。</blockquote></p><p> It will be interesting to see how the Model Y contributes to electric vehicle sales in Europe in the coming months – though the real volume is expected to come with local production next year.</p><p><blockquote>未来几个月，Model Y 如何促进欧洲电动汽车销售将会很有趣——尽管实际销量预计将在明年本地生产。</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>EV stocks surged in Monday morning trading<blockquote>周一早盘交易中电动汽车股飙升</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV stocks surged in Monday morning trading<blockquote>周一早盘交易中电动汽车股飙升</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-23 21:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>EV stocks surged in Monday morning trading.Tesla,Nio&nbsp;and Li Auto&nbsp;shares&nbsp;rose&nbsp;more&nbsp;than&nbsp;2%.</p><p><blockquote>电动汽车股在周一早盘交易中飙升。特斯拉、蔚来汽车和理想汽车股价上涨超过2%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9b189db1a61970659fe3cfa28abccaea\" tg-width=\"360\" tg-height=\"722\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla&nbsp;has officially started Model Y deliveries in Europe.</p><p><blockquote>特斯拉已正式开始在欧洲交付 Model Y。</blockquote></p><p> It was a long wait for customers and interestingly, the first deliveries were achieved through a change in strategy for Tesla.</p><p><blockquote>对于客户来说，这是一个漫长的等待，有趣的是，第一批交付是通过特斯拉战略的改变实现的。</blockquote></p><p> Tesla first unveiled the Model Y in March of 2020 and delivered the first units of the electric SUV in the US almost exactly a year later.</p><p><blockquote>特斯拉于 2020 年 3 月首次推出 Model Y，并在几乎整整一年后在美国交付了第一批电动 SUV。</blockquote></p><p> Like any new introduction from Tesla, European buyers generally have to wait until Fremont factory starts producing batches of European versions of the new cars and ships them to the old continent.</p><p><blockquote>与特斯拉推出的任何新车一样，欧洲买家通常必须等到弗里蒙特工厂开始生产批量欧洲版新车并将其运往旧大陆。</blockquote></p><p> However, the automaker announced a change in strategy to introduce Model Y in Europe and China.</p><p><blockquote>然而，该汽车制造商宣布改变战略，在欧洲和中国推出 Model Y。</blockquote></p><p> Tesla said that it would only start deliveries in those markets after achieving new local production at Gigafactory Shanghai and Gigafactory Berlin.</p><p><blockquote>特斯拉表示，只有在上海超级工厂和柏林超级工厂实现新的本地生产后，才会开始在这些市场交付。</blockquote></p><p> This was achieved in a record time in China, and&nbsp;Tesla started Model Y deliveries in the market earlier this year.</p><p><blockquote>这是在创纪录的时间内实现的，特斯拉今年早些时候开始在市场上交付Model Y。</blockquote></p><p> It has been a different story in Europe.</p><p><blockquote>在欧洲则是另一回事。</blockquote></p><p> Tesla has run into some challenges in starting production at Gigafactory Berlin, and the timeline has shifted from July 2021 to October 2021.</p><p><blockquote>特斯拉在 Gigafactory Berlin 开始生产时遇到了一些挑战，时间表已从 2021 年 7 月转移到 2021 年 10 月。</blockquote></p><p> But instead of waiting to start deliveries of the new Model Y, Tesla has decided to export Model Y vehicles produced at Gigafactory Shanghai to European markets.</p><p><blockquote>但特斯拉并没有等待开始交付新款 Model Y，而是决定将上海超级工厂生产的 Model Y 汽车出口到欧洲市场。</blockquote></p><p> We recently reported that&nbsp;Tesla exported over 8,000 Model Ys from China last month, with most of them expected to come to Europe.</p><p><blockquote>我们最近报道称，特斯拉上个月从中国出口了8000多辆Model Y，其中大部分预计将运往欧洲。</blockquote></p><p> They werespotted for the first timetwo weeks ago.</p><p><blockquote>两周前他们第一次被发现。</blockquote></p><p> Now we can confirm that Tesla has officially started Model Y deliveries in Europe.</p><p><blockquote>现在我们可以确认特斯拉已正式开始在欧洲交付 Model Y。</blockquote></p><p> Can Dogan, a senior Tesla advisor at the store and service center inDortmund, Germany, posted a picture of the first European Model Y delivery on&nbsp;LinkedIn:</p><p><blockquote>德国多特蒙德商店和服务中心的高级特斯拉顾问 Can Dogan 在 LinkedIn 上发布了第一张欧洲 Model Y 交付的照片：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ba472849be1800fdf041761fe34f58ba\" tg-width=\"1478\" tg-height=\"1108\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The electric vehicle has also been spotted in several other European markets, like Norway and the Netherlands, where deliveries are also expected to start soon.</p><p><blockquote>这款电动汽车也出现在挪威和荷兰等其他几个欧洲市场，预计也将很快开始交付。</blockquote></p><p> It will be interesting to see how the Model Y contributes to electric vehicle sales in Europe in the coming months – though the real volume is expected to come with local production next year.</p><p><blockquote>未来几个月，Model Y 如何促进欧洲电动汽车销售将会很有趣——尽管实际销量预计将在明年本地生产。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","LI":"理想汽车","TSLA":"特斯拉","XPEV":"小鹏集团"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103523722","content_text":"EV stocks surged in Monday morning trading.Tesla,Nio and Li Auto shares rose more than 2%.\n\nTesla has officially started Model Y deliveries in Europe.\nIt was a long wait for customers and interestingly, the first deliveries were achieved through a change in strategy for Tesla.\nTesla first unveiled the Model Y in March of 2020 and delivered the first units of the electric SUV in the US almost exactly a year later.\nLike any new introduction from Tesla, European buyers generally have to wait until Fremont factory starts producing batches of European versions of the new cars and ships them to the old continent.\nHowever, the automaker announced a change in strategy to introduce Model Y in Europe and China.\nTesla said that it would only start deliveries in those markets after achieving new local production at Gigafactory Shanghai and Gigafactory Berlin.\nThis was achieved in a record time in China, and Tesla started Model Y deliveries in the market earlier this year.\nIt has been a different story in Europe.\nTesla has run into some challenges in starting production at Gigafactory Berlin, and the timeline has shifted from July 2021 to October 2021.\nBut instead of waiting to start deliveries of the new Model Y, Tesla has decided to export Model Y vehicles produced at Gigafactory Shanghai to European markets.\nWe recently reported that Tesla exported over 8,000 Model Ys from China last month, with most of them expected to come to Europe.\nThey werespotted for the first timetwo weeks ago.\nNow we can confirm that Tesla has officially started Model Y deliveries in Europe.\nCan Dogan, a senior Tesla advisor at the store and service center inDortmund, Germany, posted a picture of the first European Model Y delivery on LinkedIn:\n\nThe electric vehicle has also been spotted in several other European markets, like Norway and the Netherlands, where deliveries are also expected to start soon.\nIt will be interesting to see how the Model Y contributes to electric vehicle sales in Europe in the coming months – though the real volume is expected to come with local production next year.","news_type":1,"symbols_score_info":{"XPEV":0.9,"NIO":0.9,"TSLA":0.9,"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":1098,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880406872,"gmtCreate":1631069029096,"gmtModify":1631893882944,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"Can anyone share why is that bad?","listText":"Can anyone share why is that bad?","text":"Can anyone share why is that bad?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/880406872","repostId":"1140893024","repostType":4,"repost":{"id":"1140893024","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631054373,"share":"https://www.laohunote.com/m/news/1140893024?lang=zh_CN&edition=full","pubTime":"2021-09-08 06:39","market":"us","language":"en","title":"Nio shares fall after $2 billion stock offering announced<blockquote>蔚来宣布发行 20 亿美元股票后股价下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1140893024","media":"Tiger Newspress","summary":"NIO shares slipped 3.5% in extended trading after announcing at-the-market offering of American depo","content":"<p>NIO shares slipped 3.5% in extended trading&nbsp;after&nbsp;announcing at-the-market offering of American depositary shares.</p><p><blockquote>蔚来宣布在市场上发行美国存托股票后，股价在盘后交易中下跌 3.5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e0907d5351eb6acc6316886c6ac37011\" tg-width=\"890\" tg-height=\"638\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> NIO Inc. announced that it has filed a prospectus supplement to sell up to an aggregate of US$2,000,000,000 of its American depositary shares (“ADSs”), each representing one Class A ordinary share of the Company, through an at-the-market equity offering program (the “At-The-Market Offering”).</p><p><blockquote>蔚来宣布，已提交招股说明书补充文件，拟通过场内股票发售计划（“场内发售”）出售总额不超过 2,000,000,000 美元的美国存托股份（“ADS”），每股代表公司一股 A 类普通股。</blockquote></p><p> The ADSs will be offered through Credit Suisse Securities (USA) LLC, Morgan Stanley &amp; Co. LLC, Goldman Sachs (Asia) L.L.C., China International Capital Corporation Hong Kong Securities Limited, Nomura Securities International, Inc. and Guotai Junan Securities (Hong Kong) Limited as sales agents. Some of the sales agents are expected to make offers and sales both inside and outside the United States through their respective selling agents.</p><p><blockquote>美国存托凭证将通过瑞士信贷证券（美国）有限责任公司、摩根士丹利有限责任公司、高盛（亚洲）有限责任公司、中国国际金融香港证券有限公司、野村证券国际有限公司及国泰君安证券公司（香港）有限公司作为销售代理发售。预计一些销售代理将通过各自的销售代理在美国境内外进行报价和销售。</blockquote></p><p> NIO has entered into an equity distribution agreement with the sales agents relating to the At-The-Market Offering. Sales, if any, of the ADSs under the At-The-Market Offering will be made from time to time, at the Company’s discretion, by means of ordinary broker transactions on or through the New York Stock Exchange (the “NYSE”) or other markets for its ADSs, sales made to or through a market maker other than on an exchange, or otherwise in negotiated transactions, or as otherwise agreed with the sales agents. Sales may be made at market prices prevailing at the time of sale or at negotiated prices. As a result, sales prices may vary.</p><p><blockquote>蔚来已与销售代理就市场发售订立股权分配协议。市场发售项下的美国存托凭证（如有）将由公司自行决定，通过纽约证券交易所（“纽约证券交易所”）或其他市场的普通经纪交易、向交易所以外的做市商或通过交易所以外的做市商进行销售、以协商交易或与销售代理另行约定的方式进行销售。销售可按出售时的市价或议定价格进行。因此，销售价格可能会有所不同。</blockquote></p><p> The Company currently plans to use the net proceeds from the At-The-Market Offering to further strengthen its balance sheet, as well as for general corporate purposes.</p><p><blockquote>该公司目前计划使用市场发行的净收益来进一步加强其资产负债表，以及用于一般企业目的。</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>Nio shares fall after $2 billion stock offering announced<blockquote>蔚来宣布发行 20 亿美元股票后股价下跌</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\">\nNio shares fall after $2 billion stock offering announced<blockquote>蔚来宣布发行 20 亿美元股票后股价下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-08 06:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>NIO shares slipped 3.5% in extended trading&nbsp;after&nbsp;announcing at-the-market offering of American depositary shares.</p><p><blockquote>蔚来宣布在市场上发行美国存托股票后，股价在盘后交易中下跌 3.5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e0907d5351eb6acc6316886c6ac37011\" tg-width=\"890\" tg-height=\"638\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> NIO Inc. announced that it has filed a prospectus supplement to sell up to an aggregate of US$2,000,000,000 of its American depositary shares (“ADSs”), each representing one Class A ordinary share of the Company, through an at-the-market equity offering program (the “At-The-Market Offering”).</p><p><blockquote>蔚来宣布，已提交招股说明书补充文件，拟通过场内股票发售计划（“场内发售”）出售总额不超过 2,000,000,000 美元的美国存托股份（“ADS”），每股代表公司一股 A 类普通股。</blockquote></p><p> The ADSs will be offered through Credit Suisse Securities (USA) LLC, Morgan Stanley &amp; Co. LLC, Goldman Sachs (Asia) L.L.C., China International Capital Corporation Hong Kong Securities Limited, Nomura Securities International, Inc. and Guotai Junan Securities (Hong Kong) Limited as sales agents. Some of the sales agents are expected to make offers and sales both inside and outside the United States through their respective selling agents.</p><p><blockquote>美国存托凭证将通过瑞士信贷证券（美国）有限责任公司、摩根士丹利有限责任公司、高盛（亚洲）有限责任公司、中国国际金融香港证券有限公司、野村证券国际有限公司及国泰君安证券公司（香港）有限公司作为销售代理发售。预计一些销售代理将通过各自的销售代理在美国境内外进行报价和销售。</blockquote></p><p> NIO has entered into an equity distribution agreement with the sales agents relating to the At-The-Market Offering. Sales, if any, of the ADSs under the At-The-Market Offering will be made from time to time, at the Company’s discretion, by means of ordinary broker transactions on or through the New York Stock Exchange (the “NYSE”) or other markets for its ADSs, sales made to or through a market maker other than on an exchange, or otherwise in negotiated transactions, or as otherwise agreed with the sales agents. Sales may be made at market prices prevailing at the time of sale or at negotiated prices. As a result, sales prices may vary.</p><p><blockquote>蔚来已与销售代理就市场发售订立股权分配协议。市场发售项下的美国存托凭证（如有）将由公司自行决定，通过纽约证券交易所（“纽约证券交易所”）或其他市场的普通经纪交易、向交易所以外的做市商或通过交易所以外的做市商进行销售、以协商交易或与销售代理另行约定的方式进行销售。销售可按出售时的市价或议定价格进行。因此，销售价格可能会有所不同。</blockquote></p><p> The Company currently plans to use the net proceeds from the At-The-Market Offering to further strengthen its balance sheet, as well as for general corporate purposes.</p><p><blockquote>该公司目前计划使用市场发行的净收益来进一步加强其资产负债表，以及用于一般企业目的。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140893024","content_text":"NIO shares slipped 3.5% in extended trading after announcing at-the-market offering of American depositary shares.\n\nNIO Inc. announced that it has filed a prospectus supplement to sell up to an aggregate of US$2,000,000,000 of its American depositary shares (“ADSs”), each representing one Class A ordinary share of the Company, through an at-the-market equity offering program (the “At-The-Market Offering”).\nThe ADSs will be offered through Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Goldman Sachs (Asia) L.L.C., China International Capital Corporation Hong Kong Securities Limited, Nomura Securities International, Inc. and Guotai Junan Securities (Hong Kong) Limited as sales agents. Some of the sales agents are expected to make offers and sales both inside and outside the United States through their respective selling agents.\nNIO has entered into an equity distribution agreement with the sales agents relating to the At-The-Market Offering. Sales, if any, of the ADSs under the At-The-Market Offering will be made from time to time, at the Company’s discretion, by means of ordinary broker transactions on or through the New York Stock Exchange (the “NYSE”) or other markets for its ADSs, sales made to or through a market maker other than on an exchange, or otherwise in negotiated transactions, or as otherwise agreed with the sales agents. Sales may be made at market prices prevailing at the time of sale or at negotiated prices. As a result, sales prices may vary.\nThe Company currently plans to use the net proceeds from the At-The-Market Offering to further strengthen its balance sheet, as well as for general corporate purposes.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":673,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815215872,"gmtCreate":1630680335296,"gmtModify":1632467277358,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20210910 38.5 PUT(NIO)$</a>Anyone elsehas experience trading options with Tiger&nbsp;","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO 20210910 38.5 PUT(NIO)$</a>Anyone elsehas experience trading options with Tiger&nbsp;","text":"$NIO 20210910 38.5 PUT(NIO)$Anyone elsehas experience trading options with Tiger","images":[{"img":"https://static.tigerbbs.com/2c7706f774e83523e1a688f35348d972","width":"1125","height":"1949"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/815215872","isVote":1,"tweetType":1,"viewCount":1172,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":826417401,"gmtCreate":1634047030309,"gmtModify":1634047143293,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"You skipped $NIO :(","listText":"You skipped $NIO :(","text":"You skipped $NIO :(","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/826417401","repostId":"1154635938","repostType":4,"repost":{"id":"1154635938","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1634046349,"share":"https://www.laohunote.com/m/news/1154635938?lang=zh_CN&edition=full","pubTime":"2021-10-12 21:45","market":"us","language":"en","title":"EV stocks rose in Tuesday morning trading<blockquote>周二早盘交易中电动汽车股上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154635938","media":"Tiger Newspress","summary":"EV stocks rose in Tuesday morning trading.Tesla,Nio,Xpeng Motors,,Lucid,Nikola,Fisker,Niu Technologi","content":"<p>EV stocks rose in Tuesday morning trading.Tesla,Nio,Xpeng Motors,,Lucid,Nikola,Fisker,Niu Technologies,Nikola&nbsp;and Faraday Future climbed between 1% and 5%.</p><p><blockquote>电动汽车股在周二早盘交易中上涨.特斯拉、蔚来汽车、小鹏汽车、Lucid、Nikola、Fisker、Niu Technologies、Nikola 和 Faraday Future 上涨 1% 至 5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9faa240c3ac5ee0c06311d580fae1d48\" tg-width=\"411\" tg-height=\"721\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla sold just over 56,000 vehicles made in China during September, the largest monthly total since it started production in Shanghai two years ago.</p><p><blockquote>9月份，特斯拉在中国制造的汽车销量略高于5.6万辆，这是自两年前在上海投产以来最大的月度销量。</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>EV stocks rose in Tuesday morning trading<blockquote>周二早盘交易中电动汽车股上涨</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\">\nEV stocks rose in Tuesday morning trading<blockquote>周二早盘交易中电动汽车股上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-12 21:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>EV stocks rose in Tuesday morning trading.Tesla,Nio,Xpeng Motors,,Lucid,Nikola,Fisker,Niu Technologies,Nikola&nbsp;and Faraday Future climbed between 1% and 5%.</p><p><blockquote>电动汽车股在周二早盘交易中上涨.特斯拉、蔚来汽车、小鹏汽车、Lucid、Nikola、Fisker、Niu Technologies、Nikola 和 Faraday Future 上涨 1% 至 5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9faa240c3ac5ee0c06311d580fae1d48\" tg-width=\"411\" tg-height=\"721\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla sold just over 56,000 vehicles made in China during September, the largest monthly total since it started production in Shanghai two years ago.</p><p><blockquote>9月份，特斯拉在中国制造的汽车销量略高于5.6万辆，这是自两年前在上海投产以来最大的月度销量。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","WKHS":"Workhorse Group, Inc.","LCID":"Lucid Group Inc","XPEV":"小鹏集团","LI":"理想汽车","NIO":"蔚来","FSR":"菲斯克","NIU":"小牛电动"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154635938","content_text":"EV stocks rose in Tuesday morning trading.Tesla,Nio,Xpeng Motors,,Lucid,Nikola,Fisker,Niu Technologies,Nikola and Faraday Future climbed between 1% and 5%.\n\nTesla sold just over 56,000 vehicles made in China during September, the largest monthly total since it started production in Shanghai two years ago.","news_type":1,"symbols_score_info":{"RIDE":0.9,"WKHS":0.9,"NKLA":0.9,"XPEV":0.9,"ARVL":0.9,"TSP":0.9,"TSLA":0.9,"LI":0.9,"FSR":0.9,"NIU":0.9,"LCID":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":666,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829352653,"gmtCreate":1633476650429,"gmtModify":1633476651082,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"Nice. Wait for pullback&nbsp;","listText":"Nice. Wait for pullback&nbsp;","text":"Nice. Wait for pullback","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/829352653","repostId":"1194519706","repostType":2,"repost":{"id":"1194519706","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1633474388,"share":"https://www.laohunote.com/m/news/1194519706?lang=zh_CN&edition=full","pubTime":"2021-10-06 06:53","market":"us","language":"en","title":"Palantir stock rallies 13% on $823 million Army contract<blockquote>Palantir 股价因 8.23 亿美元陆军合同上涨 13%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194519706","media":"Tiger Newspress","summary":"Palantir Technologies Inc. shares rallied in the extended session Tuesday after the data-software co","content":"<p>Palantir Technologies Inc.&nbsp;shares rallied in the extended session Tuesday after the data-software company said it was selected for a U.S. Army intelligence program contract. Palantir shares surged 13% after hours, following a 0.2% rise to close at $23.21.</p><p><blockquote>Palantir Technologies Inc. 的股价在周二的延长交易中上涨，此前这家数据软件公司表示，它被选中参加美国股票市场。陆军情报计划合同。Palantir 股价盘后飙升 13%，上涨 0.2%，收于 23.21 美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1343e5e0bb5b0de52556fa7f10c66fe0\" tg-width=\"850\" tg-height=\"624\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Palantir Technologies Inc.&nbsp;announced it has been selected by the U.S. Army’s Program Manager for Intelligence Systems and Analytics to deliver the Army’s Intelligence data fabric and analytics foundation for the Capability Drop 2 (CD-2) program.</p><p><blockquote>Palantir Technologies Inc. 宣布已被美国陆军情报系统和分析项目经理选中，为 Capability Drop 2 (CD-2) 计划提供陆军情报数据结构和分析基础。</blockquote></p><p> Palantir was selected to progress to the next phase of the Army’s competitive $823m indefinite delivery, indefinite quantity (IDIQ) contract. After collaborating with the Army on a successful “Test, Fix, Test” process, Palantir will support the Army as they proceed through final testing and fielding.</p><p><blockquote>Palantir 被选中进入陆军价值 8.23 亿美元的无限期交付、无限期数量 (IDIQ) 合同的下一阶段。在与陆军成功合作完成 “测试、修复、测试 ”流程后，Palantir 将为陆军进行最终测试和部署提供支持。</blockquote></p><p> Palantir will deploy the Palantir Gotham Platform to support Army Intelligence users worldwide with a globally federated Intelligence data fabric and analytics platform spanning multiple security classifications. This capability will field modern data integration, correlation, fusion, and analytic capabilities that prepare the Army for the next fight against emerging near peer threats.</p><p><blockquote>Palantir 将部署 Palantir Gotham 平台，通过跨越多种安全分类的全球联合情报数据结构和分析平台为全球陆军情报用户提供支持。这种能力将提供现代数据集成、关联、融合和分析能力，为陆军下一场应对新出现的近乎同行威胁的战斗做好准备。</blockquote></p><p> The Gotham platform is an operating system for defense decision making and is specifically designed to connect the dots between disparate sources. The Army Intelligence community will use this capability to modernize their data foundation by migrating legacy programs to CD-2. The Army will also use CD-2 to serve as an enabler for future modernization efforts supporting Joint All Domain Operations.</p><p><blockquote>Gotham平台是一个用于国防决策的操作系统，专门设计用于连接不同来源之间的点。陆军情报界将利用这一能力，通过将遗留程序迁移到 CD-2 来实现其数据基础的现代化。陆军还将使用 CD-2 作为未来现代化工作的推动者，支持联合全域作战。</blockquote></p><p> CD-2 is one of several efforts Palantir is working on with PEO IEW&amp;S to modernize the Army’s intelligence enterprise, alongside Capability Drop 1 (CD-1) and the Tactical Intelligence Targeting Access Node (TITAN) programs.</p><p><blockquote>CD-2 是 Palantir 与 PEO IEW&amp;S 合作开展的几项工作之一，旨在实现陆军情报企业的现代化，此外还有 Capability Drop 1 (CD-1) 和战术情报目标接入节点 (TITAN) 计划。</blockquote></p><p> “We look forward to the continued partnership with PEO IEW&amp;S and the Army’s Intelligence Community in providing new and exciting technology that help them in their modernization efforts,” said Doug Philippone, Palantir’s Global Defense Lead.</p><p><blockquote>“Palantir 全球防务主管道格-菲利波内（Doug Philippone）说：”我们期待与 PEO IEW&amp;S 和陆军情报界继续合作，提供令人兴奋的新技术，帮助他们实现现代化。</blockquote></p><p> <b>About Palantir Technologies</b></p><p><blockquote><b>关于 Palantir 技术</b></blockquote></p><p> Palantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data.</p><p><blockquote>Palantir Technologies是一家软件公司，为具有复杂敏感数据环境的组织构建企业数据平台。从制造更安全的汽车和飞机，到发现新药和打击恐怖主义，Palantir帮助公共、私营和非营利部门的客户改变他们使用数据的方式。</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>Palantir stock rallies 13% on $823 million Army contract<blockquote>Palantir 股价因 8.23 亿美元陆军合同上涨 13%</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\">\nPalantir stock rallies 13% on $823 million Army contract<blockquote>Palantir 股价因 8.23 亿美元陆军合同上涨 13%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-06 06:53</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Palantir Technologies Inc.&nbsp;shares rallied in the extended session Tuesday after the data-software company said it was selected for a U.S. Army intelligence program contract. Palantir shares surged 13% after hours, following a 0.2% rise to close at $23.21.</p><p><blockquote>Palantir Technologies Inc. 的股价在周二的延长交易中上涨，此前这家数据软件公司表示，它被选中参加美国股票市场。陆军情报计划合同。Palantir 股价盘后飙升 13%，上涨 0.2%，收于 23.21 美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/1343e5e0bb5b0de52556fa7f10c66fe0\" tg-width=\"850\" tg-height=\"624\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Palantir Technologies Inc.&nbsp;announced it has been selected by the U.S. Army’s Program Manager for Intelligence Systems and Analytics to deliver the Army’s Intelligence data fabric and analytics foundation for the Capability Drop 2 (CD-2) program.</p><p><blockquote>Palantir Technologies Inc. 宣布已被美国陆军情报系统和分析项目经理选中，为 Capability Drop 2 (CD-2) 计划提供陆军情报数据结构和分析基础。</blockquote></p><p> Palantir was selected to progress to the next phase of the Army’s competitive $823m indefinite delivery, indefinite quantity (IDIQ) contract. After collaborating with the Army on a successful “Test, Fix, Test” process, Palantir will support the Army as they proceed through final testing and fielding.</p><p><blockquote>Palantir 被选中进入陆军价值 8.23 亿美元的无限期交付、无限期数量 (IDIQ) 合同的下一阶段。在与陆军成功合作完成 “测试、修复、测试 ”流程后，Palantir 将为陆军进行最终测试和部署提供支持。</blockquote></p><p> Palantir will deploy the Palantir Gotham Platform to support Army Intelligence users worldwide with a globally federated Intelligence data fabric and analytics platform spanning multiple security classifications. This capability will field modern data integration, correlation, fusion, and analytic capabilities that prepare the Army for the next fight against emerging near peer threats.</p><p><blockquote>Palantir 将部署 Palantir Gotham 平台，通过跨越多种安全分类的全球联合情报数据结构和分析平台为全球陆军情报用户提供支持。这种能力将提供现代数据集成、关联、融合和分析能力，为陆军下一场应对新出现的近乎同行威胁的战斗做好准备。</blockquote></p><p> The Gotham platform is an operating system for defense decision making and is specifically designed to connect the dots between disparate sources. The Army Intelligence community will use this capability to modernize their data foundation by migrating legacy programs to CD-2. The Army will also use CD-2 to serve as an enabler for future modernization efforts supporting Joint All Domain Operations.</p><p><blockquote>Gotham平台是一个用于国防决策的操作系统，专门设计用于连接不同来源之间的点。陆军情报界将利用这一能力，通过将遗留程序迁移到 CD-2 来实现其数据基础的现代化。陆军还将使用 CD-2 作为未来现代化工作的推动者，支持联合全域作战。</blockquote></p><p> CD-2 is one of several efforts Palantir is working on with PEO IEW&amp;S to modernize the Army’s intelligence enterprise, alongside Capability Drop 1 (CD-1) and the Tactical Intelligence Targeting Access Node (TITAN) programs.</p><p><blockquote>CD-2 是 Palantir 与 PEO IEW&amp;S 合作开展的几项工作之一，旨在实现陆军情报企业的现代化，此外还有 Capability Drop 1 (CD-1) 和战术情报目标接入节点 (TITAN) 计划。</blockquote></p><p> “We look forward to the continued partnership with PEO IEW&amp;S and the Army’s Intelligence Community in providing new and exciting technology that help them in their modernization efforts,” said Doug Philippone, Palantir’s Global Defense Lead.</p><p><blockquote>“Palantir 全球防务主管道格-菲利波内（Doug Philippone）说：”我们期待与 PEO IEW&amp;S 和陆军情报界继续合作，提供令人兴奋的新技术，帮助他们实现现代化。</blockquote></p><p> <b>About Palantir Technologies</b></p><p><blockquote><b>关于 Palantir 技术</b></blockquote></p><p> Palantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data.</p><p><blockquote>Palantir Technologies是一家软件公司，为具有复杂敏感数据环境的组织构建企业数据平台。从制造更安全的汽车和飞机，到发现新药和打击恐怖主义，Palantir帮助公共、私营和非营利部门的客户改变他们使用数据的方式。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194519706","content_text":"Palantir Technologies Inc. shares rallied in the extended session Tuesday after the data-software company said it was selected for a U.S. Army intelligence program contract. Palantir shares surged 13% after hours, following a 0.2% rise to close at $23.21.\n\nPalantir Technologies Inc. announced it has been selected by the U.S. Army’s Program Manager for Intelligence Systems and Analytics to deliver the Army’s Intelligence data fabric and analytics foundation for the Capability Drop 2 (CD-2) program.\nPalantir was selected to progress to the next phase of the Army’s competitive $823m indefinite delivery, indefinite quantity (IDIQ) contract. After collaborating with the Army on a successful “Test, Fix, Test” process, Palantir will support the Army as they proceed through final testing and fielding.\nPalantir will deploy the Palantir Gotham Platform to support Army Intelligence users worldwide with a globally federated Intelligence data fabric and analytics platform spanning multiple security classifications. This capability will field modern data integration, correlation, fusion, and analytic capabilities that prepare the Army for the next fight against emerging near peer threats.\nThe Gotham platform is an operating system for defense decision making and is specifically designed to connect the dots between disparate sources. The Army Intelligence community will use this capability to modernize their data foundation by migrating legacy programs to CD-2. The Army will also use CD-2 to serve as an enabler for future modernization efforts supporting Joint All Domain Operations.\nCD-2 is one of several efforts Palantir is working on with PEO IEW&S to modernize the Army’s intelligence enterprise, alongside Capability Drop 1 (CD-1) and the Tactical Intelligence Targeting Access Node (TITAN) programs.\n“We look forward to the continued partnership with PEO IEW&S and the Army’s Intelligence Community in providing new and exciting technology that help them in their modernization efforts,” said Doug Philippone, Palantir’s Global Defense Lead.\nAbout Palantir Technologies\nPalantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":839,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":830940391,"gmtCreate":1629004343813,"gmtModify":1631883921884,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088158505984320","idStr":"4088158505984320"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>[Miser]&nbsp;[Miser]&nbsp;","listText":"<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>[Miser]&nbsp;[Miser]&nbsp;","text":"$Palantir Technologies Inc.(PLTR)$[Miser] [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/830940391","repostId":"2159211727","repostType":4,"isVote":1,"tweetType":1,"viewCount":404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}