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spidy13
spidy13
·
2022-03-31
Hold on. Get ready to fly
@丰加：
$Tilray Inc.(TLRY)$我是打算就给我孙子的，本人91年出生。[捂脸]
$Tilray Inc.(TLRY)$我是打算就给我孙子的，本人91年出生。[捂脸]
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spidy13
spidy13
·
2022-03-19
More to come
昨夜今晨 | 美股创一年多最大周涨幅，中概股双位数反弹
摘要：四巫日美股三大指数低开高走四连阳；中概股走强，多个热门股两位数大涨，纳斯达克中国金龙指数收盘大涨7.50%；“木头姐”信徒重新集结！一天狂买3.41亿美元。海外市场1、四巫日美股三大指数低开高走
昨夜今晨 | 美股创一年多最大周涨幅，中概股双位数反弹
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spidy13
spidy13
·
2022-03-10
Time to go up
@松果爸：
$蔚来(NIO)$前两天和一位做投资的朋友聊，他的核心观点是：“想当年iphone也是经常被国内手机厂商号称各种吊打，但最终苹果依旧是无法超越的老大，用户还是最喜欢，而特斯拉，就是电动车里的苹果”。我认同。但同时反问了他：如果不考虑价格，你是更想买蔚来还是特斯拉？产品、品牌、服务、生活质感几个核心维度，你更喜欢ET5还是Model 3？他沉思。想清楚这个问题，其实就能大致看出蔚来的估值了。短期不好说，空头正盛 ，现在18的价格，可能是底也可能不是，跌到10块我不会惊讶。但长期看，不需要太远的长期，蔚来重新站回60+，站回1000亿美金，只是第一个小目标而已。当然，也包括理想和小鹏。
$蔚来(NIO)$前两天和一位做投资的朋友聊，他的核心观点是：“想当年iphone也是经常被国内手机厂商号称各种吊打，但最终苹果依旧是无法超越的老大，用户还是最喜欢，而特斯拉，就是电动车里的苹果”。我认同。但同时反问了他：如果不考虑价格，你是更想买蔚来还是特斯拉？产品、品牌、服务、生活质感几个核心维度，你更喜欢ET5还是Model 3？他沉思。想清楚这个问题，其实就能大致看出蔚来的估值了。短期不好说，空头正盛 ，现在18的价格，可能是底也可能不是，跌到10块我不会惊讶。但长期看，不需要太远的长期，蔚来重新站回60+，站回1000亿美金，只是第一个小目标而已。当然，也包括理想和小鹏。
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spidy13
spidy13
·
2021-10-12
let's go
非常抱歉，此主贴已删除
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spidy13
spidy13
·
2021-09-02
Rock n Roll
非常抱歉，此主贴已删除
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spidy13
spidy13
·
2021-08-31
Yes, rebounding from here
@WindFreedom：
$Alibaba(09988)$如果跌不破165，就是新的支撑点了
$Alibaba(09988)$如果跌不破165，就是新的支撑点了
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spidy13
spidy13
·
2021-07-10
TSM yesssssssss
Taiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?
Summary TSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, man
Taiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?
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spidy13
spidy13
·
2021-07-10
Amazonnnnnnnb
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spidy13
spidy13
·
2021-07-10
More ↗️↗️↗️
A crazy week for U.S. stocks came with a change in the market narrative -- should investors believe it?
Investors must decide whether they believe stalling economic growth is a bigger threat than an infla
A crazy week for U.S. stocks came with a change in the market narrative -- should investors believe it?
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spidy13
spidy13
·
2021-06-30
More
非常抱歉，此主贴已删除
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href=\"https://laohu8.com/S/TUYA\">涂鸦智能</a>涨超35%，<a href=\"https://laohu8.com/S/WDH\">水滴</a>公司涨超32%，<a href=\"https://laohu8.com/S/EM\">怪兽充电</a>涨超30%，<a href=\"https://laohu8.com/S/QTT\">趣头条</a>涨超25%，乐居涨超24%，<a href=\"https://laohu8.com/S/MOGU\">蘑菇街</a>、<a href=\"https://laohu8.com/S/RYB\">红黄蓝</a>涨超23%，<a href=\"https://laohu8.com/S/UXIN\">优信</a>涨超22%，<a href=\"https://laohu8.com/S/GOTU\">高途</a>、<a href=\"https://laohu8.com/S/SY\">新氧</a>、<a href=\"https://laohu8.com/S/CNET\">中网载线</a>涨超21%，一起教育、<a href=\"https://laohu8.com/S/TME\">腾讯音乐</a>、<a href=\"https://laohu8.com/S/VIOT\">云米科技</a>、<a href=\"https://laohu8.com/S/KC\">金山云</a>涨超20%，<a href=\"https://laohu8.com/S/IQ\">爱奇艺</a>、满帮涨超19%，<a href=\"https://laohu8.com/S/CMCM\">猎豹移动</a>涨超18%，<a href=\"https://laohu8.com/S/DOYU\">斗鱼</a>涨超17%，<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>、<a href=\"https://laohu8.com/S/EDU\">新东方</a>、瑞幸粉单涨超15%，雾芯科技涨超14%，<a href=\"https://laohu8.com/S/WIMI\">微美全息</a>、<a href=\"https://laohu8.com/S/VIPS\">唯品会</a>、<a href=\"https://laohu8.com/S/YY\">欢聚集团</a>涨超13%，<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>涨近12%，微博涨超11%，<a href=\"https://laohu8.com/S/XNET\">迅雷</a>涨超10%，<a href=\"https://laohu8.com/S/BEKE\">贝壳</a>涨近10%，<a href=\"https://laohu8.com/S/PDD\">拼多多</a>涨超8%，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>涨近8%，图森未来、<a href=\"https://laohu8.com/S/MNSO\">名创优品</a>涨超7%，<a href=\"https://laohu8.com/S/00700\">腾讯</a>ADR、<a href=\"https://laohu8.com/S/ATHM\">汽车之家</a>、<a href=\"https://laohu8.com/S/BZ\">BOSS直聘</a>涨超6%，<a href=\"https://laohu8.com/S/NTES\">网易</a>涨近6%，<a href=\"https://laohu8.com/S/JD\">京东</a>涨超5%，携程、房天下涨超4%，<a href=\"https://laohu8.com/S/BIDU\">百度</a>涨超1%。</p><p>3、市场延续剧烈震荡，美油收高但本周跌逾5%</p><p>周五布油尾盘上涨1.78%，报收105.4 美元/桶，本周整体处于震荡中。对俄罗斯的制裁造成的供应紧张、与伊朗的核谈判停滞不前与石油库存不断下降，都是造成本周油市过山车行情的原因。</p><p>4、继续评估美联储加息影响黄金收跌 本周创四个多月最大周跌幅</p><p>黄金期货价格周五收跌，使本周金价录得11月以来的最大单周跌幅。市场仍在评估美联储自2018年以来首次加息对黄金市场的影响。</p><p>本周美联储与英国央行均宣布加息。美联储加息25个基点、将基准利率范围上调至0.25%—0.5%的区间，并预计今年还将加息6次。加息通常对黄金价格不利，因为它增加了持有黄金的机会成本。</p><p>5、连续第三天跌停！伦镍下跌12%，再次出现技术故障，LME将涨跌停幅度扩大至15%</p><p>周五，伦镍大跌12%，连续第三个交易日跌停。</p><p>彭博数据显示，LME镍价下跌12%至每吨36915美元，触及跌停板。不过，有至少三笔交易在低于交易所设定的跌停板下方成交，成交价36865美元/吨。伦镍复盘后，LME镍电子盘连续三天出现故障。LME表示，涨跌停区间外达成的镍交易将被取消。</p><p>LME随后还表示，3月18日场内交易的第二轮镍交易将被视为中断交易，所有在此期间达成协议的交易将无效；如果场内交易价格低于前一日设定的跌停价，将被视为“中断事件”。</p><p>北京时间周六凌晨，LME宣布，自下周一（3月21日）开始，将伦镍单日涨跌停幅度扩大至15%。本周恢复伦镍交易时，LME将当天的单日涨跌停幅度限制在5%、称将根据市场条件的变化而决定是否参照其他基础金属15%的单日涨跌停幅度限制，次日涨跌幅限制扩大至8%，恢复交易的第三天扩大至12%。</p><p>6、欧股主要指数小幅上涨 <a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数涨0.26%</p><p>欧洲三大股指小幅上涨，截止收盘，英国伦敦股市《金融时报》100种股票平均价格指数18日报收于7404.73点，比前一交易日上涨19.39点，涨幅为0.26%；法国巴黎股市CAC40指数报收于6620.24点，较前一交易日上涨7.72点，涨幅为0.12%；德国法兰克福股市DAX指数报收于14413.09点，比前一交易日上涨25.03点，涨幅为0.17%。</p><p>俄乌局势相关</p><p>1、俄乌谈判俄方代表团团长梅津斯基表示，乌克兰的中立地位和乌不加入北约是俄乌谈判的核心议题，双方在此议题上的立场已经最大限度地接近。双方还开始就乌克兰不加入北约的情况下获得安全保障的细节问题进行探讨。</p><p>2、俄罗斯国防部表示，顿涅茨克武装在俄罗斯武装部队的火力支持下，正在缩紧对马里乌波尔的包围圈并与市中心的乌克兰民族主义分子作战。俄罗斯武装部队继续在顿涅茨克地区向北进攻，过去一昼夜共控制4个定居点，推进16公里。</p><p>3、乌克兰总统办公室主任顾问、俄乌谈判乌方代表团成员波多利亚克在社交网站发文称，乌克兰在谈判中的立场是不变的，即要求停火、俄方撤军和具体的安全保障方案。</p><p>4、拉脱维亚、爱沙尼亚和立陶宛外交部分别宣布驱逐俄罗斯外交官。立陶宛驱逐了4名俄罗斯外交官，拉脱维亚和爱沙尼亚各驱逐了3名俄罗斯外交官。</p><p>5、俄罗斯总统普京和德国总理朔尔茨通话，乌方试图通过提出更多不现实的建议，来拖延谈判进程。但俄罗斯准备继续按照其众所周知的原则性立场，寻找问题的解决方案。</p><p>6、白俄罗斯总统卢卡申科在接受媒体采访时表示，没有在白俄罗斯部署和生产核武器的计划，也没有制造和使用核武器来攻击任何人的计划。</p><p>7、俄罗斯央行行长纳比乌琳娜表示，准备好逐步恢复莫斯科的交易，俄罗斯央行将购买OFZ国债，将于下周一恢复OFZ国债交易。</p><p>8、俄罗斯总统普京就特别军事行动召开联邦安全会议，讨论当前国际形势，并继续就俄罗斯在乌克兰正在进行的特别军事行动交换了意见。</p><p>9、俄罗斯外长拉夫罗夫表示，俄罗斯已经非常清楚地表明，任何进入乌克兰的货物，如果该货物装有武器，将成为特别军事行动的合法目标。</p><p>国际宏观</p><p>1、美联储鹰派听到经济数据“疾呼”行动 寻求一次加息50个基点</p><p>两位美联储鹰派成员表示，随着通胀飙升，经济数据“疾呼”迅速行动，他们将主张一次加息0.5个百分点。</p><p>美联储官员在本周的会议上决定加息25个基点；根据他们的预期中值，他们还预计年底前再加息6次。预测点阵图也显示，16位决策者中近半数希望加快行动。主席杰罗姆·鲍威尔的任务是在联邦公开市场委员会鹰派和鸽派之间建立共识，对美国货币政策的最终路径最有影响力。</p><p>在本周会议上提出异议、希望加息0.5个百分点并实施缩表计划的圣路易斯联储行长James Bullard表示，他支持今年加息至3％以上。这说明，点阵图上唯一最高的点来自他。</p><p>2、能源危机席卷欧洲 国际能源署就节省燃油再给十项建议</p><p>鉴于能源危机愈发严重，IEA为欧洲各国政府提出了10项减少燃油需求可采取的行动。IEA称这些建议不仅可以节省购买能源的资金，还可以减少温室气体排放。先前IEA曾给出十项增强欧盟天然气网络弹性的建议。</p><p>3、金属市场风波再生！LME铜行业委员会建议禁止进口俄罗斯金属</p><p>据知情人士透露，伦敦金属交易所(LME)的铜委员会建议LME禁止供应新的俄罗斯金属，若此举一旦实施，毫无疑问，将在金属市场上引发巨大冲击。据悉该委员会仅在LME发挥顾问作用，知情人士称，周五其以压倒性多数票建议不应允许新的俄罗斯铜进入其仓库。</p><p>不过该交易所表示，正在密切关注与俄罗斯制裁相关的事态发展，但目前不打算采取任何独立行动，例如限制LME系统中俄罗斯生产的金属流通。LME对铜委员会的讨论不予置评。</p><p>公司新闻</p><p>1、<a href=\"https://ttm.financial/NW/2220712708\" target=\"_blank\">特斯拉第二工厂“绣球”待抛 或异地复制“上海模式”</a></p><p>在产能扩充方面，特斯拉第二工厂选址问题也依然悬而未决。此前有消息称，特斯拉第二工厂或仍将落户于上海市浦东新区临港新片区，最快将于今年3月份动工，待新工厂全面投产后，特斯拉在国内的总产能将达到200万辆。但该消息随即遭到特斯拉方面的否认。</p><p>目前，特斯拉第二工厂是继续布局在上海还是离沪复刻“上海模式”仍未有定论，并已有近10座城市进入“绯闻名单”，武汉市等也表示将积极对接洽谈。对于第二工厂选址问题，特斯拉上述负责人日前称：“目前还没有官方消息。”而上海市经济和信息化委员会方面告诉记者：“对于特斯拉第二工厂的相关信息，目前不予置评。”</p><p>2、<a href=\"https://ttm.financial/NW/2220724003\" target=\"_blank\">“木头姐”信徒重新集结！一天狂买3.41亿美元</a></p><p>伍德因其独特的投资风格而备受市场关注，投资者对其的态度也是褒贬不一的。尽管ARKK今年迄今已下跌约35％，但其拥趸者一直在稳步定投ARKK，该基金也有望连续第六周出现资金流入。分析师表示，许多人正在利用该基金的下跌而逐步建仓。</p><p>3、<a href=\"https://ttm.financial/NW/2220753777\" target=\"_blank\">莫德纳寻求美国FDA批准：向成人接种第四剂新冠疫苗</a></p><p>莫德纳寻求第四剂的覆盖范围为所有18岁以上的成年人，包括那些因年龄或其他疾病感染新冠几率较大，以及医护人员等高风险人群。这一覆盖范围远远超过<a href=\"https://laohu8.com/S/PFE\">辉瑞</a>和德国生物技术公司（<a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a>）前两天提出的针对65岁及以上人群接种第四剂疫苗的申请。</p><p>关于有效性，莫德纳并没有给出具体说明，但其表示，提交的部分是基于奥密克戎变体出现后美国和以色列的数据。</p><p>4、<a href=\"https://ttm.financial/NW/没有和保时捷\" target=\"_blank\">Gurman：苹果没有和保时捷在汽车上合作</a></p><p>据报道，德国汽车制造商保时捷的CEO在今日的年度新闻发布会上表示，已与苹果公司讨论了合作项目。保时捷CEO Oliver Blume表示，该公司已与苹果公司讨论了“令人兴奋的共同项目”，但尚未决定是否继续进行。对于这件事，网友纷纷猜测苹果是不是要跟保时捷合作生产自己的Apple Car，而MarkGurman透露称，他至少目前没有看到过苹果跟保时捷在造车领域进行合作的迹象，他所了解的苹果汽车包括：使用iPhone控制空调、座椅、收音机等车载设备。</p></body></html>","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>昨夜今晨 | 美股创一年多最大周涨幅，中概股双位数反弹</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; 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n昨夜今晨 | 美股创一年多最大周涨幅，中概股双位数反弹\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2022-03-19 08:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote>摘要：四巫日美股三大指数低开高走四连阳；中概股走强，多个热门股两位数大涨，纳斯达克中国金龙指数收盘大涨7.50%；“木头姐”信徒重新集结！一天狂买3.41亿美元。</blockquote><p>海外市场</p><p>1、四巫日美股三大指数低开高走四连阳</p><p>四巫日大量股指与个股期货及期权同日到期，市场成交量随之放大，同时俄乌谈判仍在进行，乌方称达成停火协议仍需时日。</p><p>道指收盘上涨274.17点，涨幅为0.80%，报34754.93点；纳指涨279.06点，涨幅为2.05%，报13893.84点；标普500指数涨51.45点，涨幅为1.17%，报4463.12点。</p><p>本周美股三大股指均录得2020年11月20日以来的最大单周涨幅，道指上涨5.48%，录得2020年11月以来的最大单周涨幅。标普500指数上涨6.15%，录得2020年11月以来的最大单周涨幅。纳指大涨8.18%，创2021年2月以来的最大单周涨幅。</p><p>2、中概股周五收盘大幅走强：<a href=\"https://laohu8.com/S/BEST\">百世集团</a>飙升73% <a href=\"https://laohu8.com/S/ZH\">知乎</a>涨近55%</p><p>中概股周五收盘走强，多个热门股两位数大涨，纳斯达克中国金龙指数收盘大涨7.50%。</p><p>百世集团飙升73%，知乎涨近55%，<a href=\"https://laohu8.com/S/KRKR\">36氪</a>涨超41%，<a href=\"https://laohu8.com/S/LIZI\">荔枝</a>涨近40%，<a href=\"https://laohu8.com/S/TUYA\">涂鸦智能</a>涨超35%，<a href=\"https://laohu8.com/S/WDH\">水滴</a>公司涨超32%，<a href=\"https://laohu8.com/S/EM\">怪兽充电</a>涨超30%，<a href=\"https://laohu8.com/S/QTT\">趣头条</a>涨超25%，乐居涨超24%，<a href=\"https://laohu8.com/S/MOGU\">蘑菇街</a>、<a href=\"https://laohu8.com/S/RYB\">红黄蓝</a>涨超23%，<a href=\"https://laohu8.com/S/UXIN\">优信</a>涨超22%，<a href=\"https://laohu8.com/S/GOTU\">高途</a>、<a href=\"https://laohu8.com/S/SY\">新氧</a>、<a href=\"https://laohu8.com/S/CNET\">中网载线</a>涨超21%，一起教育、<a href=\"https://laohu8.com/S/TME\">腾讯音乐</a>、<a href=\"https://laohu8.com/S/VIOT\">云米科技</a>、<a href=\"https://laohu8.com/S/KC\">金山云</a>涨超20%，<a href=\"https://laohu8.com/S/IQ\">爱奇艺</a>、满帮涨超19%，<a href=\"https://laohu8.com/S/CMCM\">猎豹移动</a>涨超18%，<a href=\"https://laohu8.com/S/DOYU\">斗鱼</a>涨超17%，<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>、<a href=\"https://laohu8.com/S/EDU\">新东方</a>、瑞幸粉单涨超15%，雾芯科技涨超14%，<a href=\"https://laohu8.com/S/WIMI\">微美全息</a>、<a href=\"https://laohu8.com/S/VIPS\">唯品会</a>、<a href=\"https://laohu8.com/S/YY\">欢聚集团</a>涨超13%，<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>涨近12%，微博涨超11%，<a href=\"https://laohu8.com/S/XNET\">迅雷</a>涨超10%，<a href=\"https://laohu8.com/S/BEKE\">贝壳</a>涨近10%，<a href=\"https://laohu8.com/S/PDD\">拼多多</a>涨超8%，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>涨近8%，图森未来、<a href=\"https://laohu8.com/S/MNSO\">名创优品</a>涨超7%，<a href=\"https://laohu8.com/S/00700\">腾讯</a>ADR、<a href=\"https://laohu8.com/S/ATHM\">汽车之家</a>、<a href=\"https://laohu8.com/S/BZ\">BOSS直聘</a>涨超6%，<a href=\"https://laohu8.com/S/NTES\">网易</a>涨近6%，<a href=\"https://laohu8.com/S/JD\">京东</a>涨超5%，携程、房天下涨超4%，<a href=\"https://laohu8.com/S/BIDU\">百度</a>涨超1%。</p><p>3、市场延续剧烈震荡，美油收高但本周跌逾5%</p><p>周五布油尾盘上涨1.78%，报收105.4 美元/桶，本周整体处于震荡中。对俄罗斯的制裁造成的供应紧张、与伊朗的核谈判停滞不前与石油库存不断下降，都是造成本周油市过山车行情的原因。</p><p>4、继续评估美联储加息影响黄金收跌 本周创四个多月最大周跌幅</p><p>黄金期货价格周五收跌，使本周金价录得11月以来的最大单周跌幅。市场仍在评估美联储自2018年以来首次加息对黄金市场的影响。</p><p>本周美联储与英国央行均宣布加息。美联储加息25个基点、将基准利率范围上调至0.25%—0.5%的区间，并预计今年还将加息6次。加息通常对黄金价格不利，因为它增加了持有黄金的机会成本。</p><p>5、连续第三天跌停！伦镍下跌12%，再次出现技术故障，LME将涨跌停幅度扩大至15%</p><p>周五，伦镍大跌12%，连续第三个交易日跌停。</p><p>彭博数据显示，LME镍价下跌12%至每吨36915美元，触及跌停板。不过，有至少三笔交易在低于交易所设定的跌停板下方成交，成交价36865美元/吨。伦镍复盘后，LME镍电子盘连续三天出现故障。LME表示，涨跌停区间外达成的镍交易将被取消。</p><p>LME随后还表示，3月18日场内交易的第二轮镍交易将被视为中断交易，所有在此期间达成协议的交易将无效；如果场内交易价格低于前一日设定的跌停价，将被视为“中断事件”。</p><p>北京时间周六凌晨，LME宣布，自下周一（3月21日）开始，将伦镍单日涨跌停幅度扩大至15%。本周恢复伦镍交易时，LME将当天的单日涨跌停幅度限制在5%、称将根据市场条件的变化而决定是否参照其他基础金属15%的单日涨跌停幅度限制，次日涨跌幅限制扩大至8%，恢复交易的第三天扩大至12%。</p><p>6、欧股主要指数小幅上涨 <a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数涨0.26%</p><p>欧洲三大股指小幅上涨，截止收盘，英国伦敦股市《金融时报》100种股票平均价格指数18日报收于7404.73点，比前一交易日上涨19.39点，涨幅为0.26%；法国巴黎股市CAC40指数报收于6620.24点，较前一交易日上涨7.72点，涨幅为0.12%；德国法兰克福股市DAX指数报收于14413.09点，比前一交易日上涨25.03点，涨幅为0.17%。</p><p>俄乌局势相关</p><p>1、俄乌谈判俄方代表团团长梅津斯基表示，乌克兰的中立地位和乌不加入北约是俄乌谈判的核心议题，双方在此议题上的立场已经最大限度地接近。双方还开始就乌克兰不加入北约的情况下获得安全保障的细节问题进行探讨。</p><p>2、俄罗斯国防部表示，顿涅茨克武装在俄罗斯武装部队的火力支持下，正在缩紧对马里乌波尔的包围圈并与市中心的乌克兰民族主义分子作战。俄罗斯武装部队继续在顿涅茨克地区向北进攻，过去一昼夜共控制4个定居点，推进16公里。</p><p>3、乌克兰总统办公室主任顾问、俄乌谈判乌方代表团成员波多利亚克在社交网站发文称，乌克兰在谈判中的立场是不变的，即要求停火、俄方撤军和具体的安全保障方案。</p><p>4、拉脱维亚、爱沙尼亚和立陶宛外交部分别宣布驱逐俄罗斯外交官。立陶宛驱逐了4名俄罗斯外交官，拉脱维亚和爱沙尼亚各驱逐了3名俄罗斯外交官。</p><p>5、俄罗斯总统普京和德国总理朔尔茨通话，乌方试图通过提出更多不现实的建议，来拖延谈判进程。但俄罗斯准备继续按照其众所周知的原则性立场，寻找问题的解决方案。</p><p>6、白俄罗斯总统卢卡申科在接受媒体采访时表示，没有在白俄罗斯部署和生产核武器的计划，也没有制造和使用核武器来攻击任何人的计划。</p><p>7、俄罗斯央行行长纳比乌琳娜表示，准备好逐步恢复莫斯科的交易，俄罗斯央行将购买OFZ国债，将于下周一恢复OFZ国债交易。</p><p>8、俄罗斯总统普京就特别军事行动召开联邦安全会议，讨论当前国际形势，并继续就俄罗斯在乌克兰正在进行的特别军事行动交换了意见。</p><p>9、俄罗斯外长拉夫罗夫表示，俄罗斯已经非常清楚地表明，任何进入乌克兰的货物，如果该货物装有武器，将成为特别军事行动的合法目标。</p><p>国际宏观</p><p>1、美联储鹰派听到经济数据“疾呼”行动 寻求一次加息50个基点</p><p>两位美联储鹰派成员表示，随着通胀飙升，经济数据“疾呼”迅速行动，他们将主张一次加息0.5个百分点。</p><p>美联储官员在本周的会议上决定加息25个基点；根据他们的预期中值，他们还预计年底前再加息6次。预测点阵图也显示，16位决策者中近半数希望加快行动。主席杰罗姆·鲍威尔的任务是在联邦公开市场委员会鹰派和鸽派之间建立共识，对美国货币政策的最终路径最有影响力。</p><p>在本周会议上提出异议、希望加息0.5个百分点并实施缩表计划的圣路易斯联储行长James Bullard表示，他支持今年加息至3％以上。这说明，点阵图上唯一最高的点来自他。</p><p>2、能源危机席卷欧洲 国际能源署就节省燃油再给十项建议</p><p>鉴于能源危机愈发严重，IEA为欧洲各国政府提出了10项减少燃油需求可采取的行动。IEA称这些建议不仅可以节省购买能源的资金，还可以减少温室气体排放。先前IEA曾给出十项增强欧盟天然气网络弹性的建议。</p><p>3、金属市场风波再生！LME铜行业委员会建议禁止进口俄罗斯金属</p><p>据知情人士透露，伦敦金属交易所(LME)的铜委员会建议LME禁止供应新的俄罗斯金属，若此举一旦实施，毫无疑问，将在金属市场上引发巨大冲击。据悉该委员会仅在LME发挥顾问作用，知情人士称，周五其以压倒性多数票建议不应允许新的俄罗斯铜进入其仓库。</p><p>不过该交易所表示，正在密切关注与俄罗斯制裁相关的事态发展，但目前不打算采取任何独立行动，例如限制LME系统中俄罗斯生产的金属流通。LME对铜委员会的讨论不予置评。</p><p>公司新闻</p><p>1、<a href=\"https://ttm.financial/NW/2220712708\" target=\"_blank\">特斯拉第二工厂“绣球”待抛 或异地复制“上海模式”</a></p><p>在产能扩充方面，特斯拉第二工厂选址问题也依然悬而未决。此前有消息称，特斯拉第二工厂或仍将落户于上海市浦东新区临港新片区，最快将于今年3月份动工，待新工厂全面投产后，特斯拉在国内的总产能将达到200万辆。但该消息随即遭到特斯拉方面的否认。</p><p>目前，特斯拉第二工厂是继续布局在上海还是离沪复刻“上海模式”仍未有定论，并已有近10座城市进入“绯闻名单”，武汉市等也表示将积极对接洽谈。对于第二工厂选址问题，特斯拉上述负责人日前称：“目前还没有官方消息。”而上海市经济和信息化委员会方面告诉记者：“对于特斯拉第二工厂的相关信息，目前不予置评。”</p><p>2、<a href=\"https://ttm.financial/NW/2220724003\" target=\"_blank\">“木头姐”信徒重新集结！一天狂买3.41亿美元</a></p><p>伍德因其独特的投资风格而备受市场关注，投资者对其的态度也是褒贬不一的。尽管ARKK今年迄今已下跌约35％，但其拥趸者一直在稳步定投ARKK，该基金也有望连续第六周出现资金流入。分析师表示，许多人正在利用该基金的下跌而逐步建仓。</p><p>3、<a href=\"https://ttm.financial/NW/2220753777\" target=\"_blank\">莫德纳寻求美国FDA批准：向成人接种第四剂新冠疫苗</a></p><p>莫德纳寻求第四剂的覆盖范围为所有18岁以上的成年人，包括那些因年龄或其他疾病感染新冠几率较大，以及医护人员等高风险人群。这一覆盖范围远远超过<a href=\"https://laohu8.com/S/PFE\">辉瑞</a>和德国生物技术公司（<a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a>）前两天提出的针对65岁及以上人群接种第四剂疫苗的申请。</p><p>关于有效性，莫德纳并没有给出具体说明，但其表示，提交的部分是基于奥密克戎变体出现后美国和以色列的数据。</p><p>4、<a href=\"https://ttm.financial/NW/没有和保时捷\" target=\"_blank\">Gurman：苹果没有和保时捷在汽车上合作</a></p><p>据报道，德国汽车制造商保时捷的CEO在今日的年度新闻发布会上表示，已与苹果公司讨论了合作项目。保时捷CEO Oliver Blume表示，该公司已与苹果公司讨论了“令人兴奋的共同项目”，但尚未决定是否继续进行。对于这件事，网友纷纷猜测苹果是不是要跟保时捷合作生产自己的Apple Car，而MarkGurman透露称，他至少目前没有看到过苹果跟保时捷在造车领域进行合作的迹象，他所了解的苹果汽车包括：使用iPhone控制空调、座椅、收音机等车载设备。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"DDG":"ProShares做空石油与天然气ETF","SCO":"二倍做空彭博原油指数ETF",".IXIC":"NASDAQ Composite","QNETCN":"纳斯达克中美互联网老虎指数","TTTN":"老虎中美互联网巨头ETF","USO":"美国原油ETF",".SPX":"S&P 500 Index","DUG":"二倍做空石油与天然气ETF(ProShares)","UCO":"二倍做多彭博原油ETF",".DJI":"道琼斯","DWT":"三倍做空原油ETN"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176791163","content_text":"摘要：四巫日美股三大指数低开高走四连阳；中概股走强，多个热门股两位数大涨，纳斯达克中国金龙指数收盘大涨7.50%；“木头姐”信徒重新集结！一天狂买3.41亿美元。海外市场1、四巫日美股三大指数低开高走四连阳四巫日大量股指与个股期货及期权同日到期，市场成交量随之放大，同时俄乌谈判仍在进行，乌方称达成停火协议仍需时日。道指收盘上涨274.17点，涨幅为0.80%，报34754.93点；纳指涨279.06点，涨幅为2.05%，报13893.84点；标普500指数涨51.45点，涨幅为1.17%，报4463.12点。本周美股三大股指均录得2020年11月20日以来的最大单周涨幅，道指上涨5.48%，录得2020年11月以来的最大单周涨幅。标普500指数上涨6.15%，录得2020年11月以来的最大单周涨幅。纳指大涨8.18%，创2021年2月以来的最大单周涨幅。2、中概股周五收盘大幅走强：百世集团飙升73% 知乎涨近55%中概股周五收盘走强，多个热门股两位数大涨，纳斯达克中国金龙指数收盘大涨7.50%。百世集团飙升73%，知乎涨近55%，36氪涨超41%，荔枝涨近40%，涂鸦智能涨超35%，水滴公司涨超32%，怪兽充电涨超30%，趣头条涨超25%，乐居涨超24%，蘑菇街、红黄蓝涨超23%，优信涨超22%，高途、新氧、中网载线涨超21%，一起教育、腾讯音乐、云米科技、金山云涨超20%，爱奇艺、满帮涨超19%，猎豹移动涨超18%，斗鱼涨超17%，哔哩哔哩、新东方、瑞幸粉单涨超15%，雾芯科技涨超14%，微美全息、唯品会、欢聚集团涨超13%，虎牙涨近12%，微博涨超11%，迅雷涨超10%，贝壳涨近10%，拼多多涨超8%，阿里巴巴涨近8%，图森未来、名创优品涨超7%，腾讯ADR、汽车之家、BOSS直聘涨超6%，网易涨近6%，京东涨超5%，携程、房天下涨超4%，百度涨超1%。3、市场延续剧烈震荡，美油收高但本周跌逾5%周五布油尾盘上涨1.78%，报收105.4 美元/桶，本周整体处于震荡中。对俄罗斯的制裁造成的供应紧张、与伊朗的核谈判停滞不前与石油库存不断下降，都是造成本周油市过山车行情的原因。4、继续评估美联储加息影响黄金收跌 本周创四个多月最大周跌幅黄金期货价格周五收跌，使本周金价录得11月以来的最大单周跌幅。市场仍在评估美联储自2018年以来首次加息对黄金市场的影响。本周美联储与英国央行均宣布加息。美联储加息25个基点、将基准利率范围上调至0.25%—0.5%的区间，并预计今年还将加息6次。加息通常对黄金价格不利，因为它增加了持有黄金的机会成本。5、连续第三天跌停！伦镍下跌12%，再次出现技术故障，LME将涨跌停幅度扩大至15%周五，伦镍大跌12%，连续第三个交易日跌停。彭博数据显示，LME镍价下跌12%至每吨36915美元，触及跌停板。不过，有至少三笔交易在低于交易所设定的跌停板下方成交，成交价36865美元/吨。伦镍复盘后，LME镍电子盘连续三天出现故障。LME表示，涨跌停区间外达成的镍交易将被取消。LME随后还表示，3月18日场内交易的第二轮镍交易将被视为中断交易，所有在此期间达成协议的交易将无效；如果场内交易价格低于前一日设定的跌停价，将被视为“中断事件”。北京时间周六凌晨，LME宣布，自下周一（3月21日）开始，将伦镍单日涨跌停幅度扩大至15%。本周恢复伦镍交易时，LME将当天的单日涨跌停幅度限制在5%、称将根据市场条件的变化而决定是否参照其他基础金属15%的单日涨跌停幅度限制，次日涨跌幅限制扩大至8%，恢复交易的第三天扩大至12%。6、欧股主要指数小幅上涨 英国富时100指数涨0.26%欧洲三大股指小幅上涨，截止收盘，英国伦敦股市《金融时报》100种股票平均价格指数18日报收于7404.73点，比前一交易日上涨19.39点，涨幅为0.26%；法国巴黎股市CAC40指数报收于6620.24点，较前一交易日上涨7.72点，涨幅为0.12%；德国法兰克福股市DAX指数报收于14413.09点，比前一交易日上涨25.03点，涨幅为0.17%。俄乌局势相关1、俄乌谈判俄方代表团团长梅津斯基表示，乌克兰的中立地位和乌不加入北约是俄乌谈判的核心议题，双方在此议题上的立场已经最大限度地接近。双方还开始就乌克兰不加入北约的情况下获得安全保障的细节问题进行探讨。2、俄罗斯国防部表示，顿涅茨克武装在俄罗斯武装部队的火力支持下，正在缩紧对马里乌波尔的包围圈并与市中心的乌克兰民族主义分子作战。俄罗斯武装部队继续在顿涅茨克地区向北进攻，过去一昼夜共控制4个定居点，推进16公里。3、乌克兰总统办公室主任顾问、俄乌谈判乌方代表团成员波多利亚克在社交网站发文称，乌克兰在谈判中的立场是不变的，即要求停火、俄方撤军和具体的安全保障方案。4、拉脱维亚、爱沙尼亚和立陶宛外交部分别宣布驱逐俄罗斯外交官。立陶宛驱逐了4名俄罗斯外交官，拉脱维亚和爱沙尼亚各驱逐了3名俄罗斯外交官。5、俄罗斯总统普京和德国总理朔尔茨通话，乌方试图通过提出更多不现实的建议，来拖延谈判进程。但俄罗斯准备继续按照其众所周知的原则性立场，寻找问题的解决方案。6、白俄罗斯总统卢卡申科在接受媒体采访时表示，没有在白俄罗斯部署和生产核武器的计划，也没有制造和使用核武器来攻击任何人的计划。7、俄罗斯央行行长纳比乌琳娜表示，准备好逐步恢复莫斯科的交易，俄罗斯央行将购买OFZ国债，将于下周一恢复OFZ国债交易。8、俄罗斯总统普京就特别军事行动召开联邦安全会议，讨论当前国际形势，并继续就俄罗斯在乌克兰正在进行的特别军事行动交换了意见。9、俄罗斯外长拉夫罗夫表示，俄罗斯已经非常清楚地表明，任何进入乌克兰的货物，如果该货物装有武器，将成为特别军事行动的合法目标。国际宏观1、美联储鹰派听到经济数据“疾呼”行动 寻求一次加息50个基点两位美联储鹰派成员表示，随着通胀飙升，经济数据“疾呼”迅速行动，他们将主张一次加息0.5个百分点。美联储官员在本周的会议上决定加息25个基点；根据他们的预期中值，他们还预计年底前再加息6次。预测点阵图也显示，16位决策者中近半数希望加快行动。主席杰罗姆·鲍威尔的任务是在联邦公开市场委员会鹰派和鸽派之间建立共识，对美国货币政策的最终路径最有影响力。在本周会议上提出异议、希望加息0.5个百分点并实施缩表计划的圣路易斯联储行长James Bullard表示，他支持今年加息至3％以上。这说明，点阵图上唯一最高的点来自他。2、能源危机席卷欧洲 国际能源署就节省燃油再给十项建议鉴于能源危机愈发严重，IEA为欧洲各国政府提出了10项减少燃油需求可采取的行动。IEA称这些建议不仅可以节省购买能源的资金，还可以减少温室气体排放。先前IEA曾给出十项增强欧盟天然气网络弹性的建议。3、金属市场风波再生！LME铜行业委员会建议禁止进口俄罗斯金属据知情人士透露，伦敦金属交易所(LME)的铜委员会建议LME禁止供应新的俄罗斯金属，若此举一旦实施，毫无疑问，将在金属市场上引发巨大冲击。据悉该委员会仅在LME发挥顾问作用，知情人士称，周五其以压倒性多数票建议不应允许新的俄罗斯铜进入其仓库。不过该交易所表示，正在密切关注与俄罗斯制裁相关的事态发展，但目前不打算采取任何独立行动，例如限制LME系统中俄罗斯生产的金属流通。LME对铜委员会的讨论不予置评。公司新闻1、特斯拉第二工厂“绣球”待抛 或异地复制“上海模式”在产能扩充方面，特斯拉第二工厂选址问题也依然悬而未决。此前有消息称，特斯拉第二工厂或仍将落户于上海市浦东新区临港新片区，最快将于今年3月份动工，待新工厂全面投产后，特斯拉在国内的总产能将达到200万辆。但该消息随即遭到特斯拉方面的否认。目前，特斯拉第二工厂是继续布局在上海还是离沪复刻“上海模式”仍未有定论，并已有近10座城市进入“绯闻名单”，武汉市等也表示将积极对接洽谈。对于第二工厂选址问题，特斯拉上述负责人日前称：“目前还没有官方消息。”而上海市经济和信息化委员会方面告诉记者：“对于特斯拉第二工厂的相关信息，目前不予置评。”2、“木头姐”信徒重新集结！一天狂买3.41亿美元伍德因其独特的投资风格而备受市场关注，投资者对其的态度也是褒贬不一的。尽管ARKK今年迄今已下跌约35％，但其拥趸者一直在稳步定投ARKK，该基金也有望连续第六周出现资金流入。分析师表示，许多人正在利用该基金的下跌而逐步建仓。3、莫德纳寻求美国FDA批准：向成人接种第四剂新冠疫苗莫德纳寻求第四剂的覆盖范围为所有18岁以上的成年人，包括那些因年龄或其他疾病感染新冠几率较大，以及医护人员等高风险人群。这一覆盖范围远远超过辉瑞和德国生物技术公司（BioNTech SE）前两天提出的针对65岁及以上人群接种第四剂疫苗的申请。关于有效性，莫德纳并没有给出具体说明，但其表示，提交的部分是基于奥密克戎变体出现后美国和以色列的数据。4、Gurman：苹果没有和保时捷在汽车上合作据报道，德国汽车制造商保时捷的CEO在今日的年度新闻发布会上表示，已与苹果公司讨论了合作项目。保时捷CEO Oliver Blume表示，该公司已与苹果公司讨论了“令人兴奋的共同项目”，但尚未决定是否继续进行。对于这件事，网友纷纷猜测苹果是不是要跟保时捷合作生产自己的Apple 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Roll","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/812046227","repostId":"2164481914","repostType":4,"isVote":1,"tweetType":1,"viewCount":1844,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818385820,"gmtCreate":1630376428560,"gmtModify":1704959353063,"author":{"id":"3565599896015293","authorId":"3565599896015293","name":"spidy13","avatar":"https://static.tigerbbs.com/9cbef765f1767db803068d964456b3c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565599896015293","authorIdStr":"3565599896015293"},"themes":[],"htmlText":"Yes, rebounding from here ","listText":"Yes, rebounding from here ","text":"Yes, rebounding from here","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/818385820","repostId":"831456930","repostType":1,"repost":{"id":831456930,"gmtCreate":1629342991320,"gmtModify":1631888772385,"author":{"id":"3580803391749200","authorId":"3580803391749200","name":"WindFreedom","avatar":"https://static.tigerbbs.com/a827c020e4512af822ef9d61c718dc95","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580803391749200","authorIdStr":"3580803391749200"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/09988\">$Alibaba(09988)$</a>如果跌不破165，就是新的支撑点了","listText":"<a href=\"https://laohu8.com/S/09988\">$Alibaba(09988)$</a>如果跌不破165，就是新的支撑点了","text":"$Alibaba(09988)$如果跌不破165，就是新的支撑点了","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831456930","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1006,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141435964,"gmtCreate":1625884415558,"gmtModify":1633936406179,"author":{"id":"3565599896015293","authorId":"3565599896015293","name":"spidy13","avatar":"https://static.tigerbbs.com/9cbef765f1767db803068d964456b3c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565599896015293","authorIdStr":"3565599896015293"},"themes":[],"htmlText":"TSM yesssssssss","listText":"TSM yesssssssss","text":"TSM yesssssssss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141435964","repostId":"1145284684","repostType":4,"repost":{"id":"1145284684","kind":"news","pubTimestamp":1625878443,"share":"https://www.laohu8.com/m/news/1145284684?lang=&edition=full","pubTime":"2021-07-10 08:54","market":"us","language":"en","title":"Taiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1145284684","media":"seekingalpha","summary":"Summary\n\nTSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, man","content":"<p><b>Summary</b></p>\n<ul>\n <li>TSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, manufacturing 11,617 different products using 281 distinct technologies for 510 different customers.</li>\n <li>TSMC and fellow Taiwan foundry United Microelectronics Corporation are expected to benefit from a chip-supply crisis that is adversely impacting automakers.</li>\n <li>TSMC benefits from a gross margin nearly twice that of UMC.</li>\n <li>40% of revenues are from nodes <14nm, below the smallest node of UMC.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d80e662ebb3b78dd0445ecc891cf8986\" tg-width=\"768\" tg-height=\"513\"><span>BING-JHEN HONG/iStock Editorial via Getty Images</span></p>\n<p>Taiwan Semiconductor Manufacturing Company Limited or TSMC (TSM), and United Microelectronics Corporation or UMC (UMC) are both headquartered in Taiwan and both manufacture semiconductors for companies on a contract basis. They both provide high quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry and are defined as pure-play foundries.</p>\n<p>While they have similarities, the two companies are vastly different with different business models. TSMC started as and has always been a leading-edge company, manufacturing chips at the smallest dimensions. UMC, on the other hand, Taiwan’s first semiconductor company, has chosen the 14nm node as the smallest dimension it will manufacture.</p>\n<p>To illustrate the differences in models, Chart 1 shows revenues for both companies based on technology node. The key difference is the <14nm node, where TSMC generated 41.4% of its revenue compared to 0% for UMC.</p>\n<p>Chart 1 also shows that TSMC held $43 billion in revenues in 2020 versus $6 billion for UMC. Importantly, it shows also shows the financial dominance of TSMC, since UMC holds second place in the global foundry market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf3b088585f8a624c6665040756e940f\" tg-width=\"640\" tg-height=\"462\"><span>Chart 1</span></p>\n<p>Much of TSMC’s revenues are on the <14nm node, which increased from 29.4% of revenues in 2019 to 41.4% in 2020. Since UMC’s smallest node is 28nm/14nm, UMC is investing heavily at that node, and its share of revenue increased from 11.3% in 2019 to 13.6% in 2020. In contrast, in 2020 TSMC’s share at the 28nm/14nm node decreased to 30.8% from 37.7% in 2019.</p>\n<p><b>Expanding Capacity</b></p>\n<p><b>Leading Edge Nodes</b></p>\n<p>TSMC generates about 1/3 of its revenues from the 28nm/14nm, and TSMC has 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent).</p>\n<p>In TSMC’sQ1 2021 earnings call, TSMC’s VP and CFO Wendell Huang noted:</p>\n<blockquote>\n “In order to meet the increasing demand for our advanced and specialty technologies in the next several years, we have decided to raise our full year 2021 CapEx to be around USD 30 billion. About 80% of the 2021 capital budget will be allocated for advanced process technologies, including 3-nanometer, 5-nanometer and 7-nanometer. About 10% will be spent for advanced packaging and mask making, and about 10% will be spent for specialty technologies.”\n</blockquote>\n<p>TSMC expects to invest about $100 billion through the next 3 years to increase capacity, to support the manufacturing and R&D of leading-edge and specialty technologies. Its N5 is already in its second year of volume production, contributing around 20% of our wafer revenue in 2021. N4 risk production is targeted for second half this year and volume production in 2022.</p>\n<p>Among TSMC's facilities to go online in the next three to four years are the company's fab in Arizona as well as its first 2nm-capable fab in Taiwan. The company needs to build and equip its N5-capable fab in Arizona. The facility will cost around $12 billion, will have a capacity of 20,000 wafer starts per month (WSPM), and will come online in 2024.</p>\n<p><b>28nm Nodes</b></p>\n<p>The global semiconductor shortage is one of the catalysts prompting foundry manufacturers to build new fabs, particularly at the 28nm node, as many automobile chips are manufactured at that node. While I have devoted four Seeking Alpha articles on trying to pin down what devices are undersupplied and could only find microcontrollers, in this article, I will concede for the sake of argument, that it is not due to hoarding but inept manufacturing supply chains.</p>\n<p>As a result, governments are spending heavily on this industry to expand the total production capacity. These free handouts are a second catalyst for new 28nm node fab construction.</p>\n<p>A strong demand for wafers from the consumer electronics industry has led to increased shipments of UMC’s 28nm wafers, which saw 18% sequential revenue growth in the last reported quarter. In addition, UMC has been focused on production for the automotive industry as semiconductors for electric and self-driving cars are expected to be a major growth driver for the company. However, global automotive semiconductors are only a $40 billion market, compared to a global semiconductor market of $525 billion. That is growing as more semiconductors are used per vehicle each year and because EVs use more semiconductors than internal combustion vehicles.</p>\n<p>There is a supply-demand imbalance in mature nodes, as most of the capacity expansion has been in advanced nodes, but companies have not addressed the mature nodes. The technology node is central to the latest auto chip crisis, while at the same time Sony has moved its design of CMOS Integrated Sensors (\"CIS\") for smartphones to 28nm.</p>\n<p>On April 22, TSMC announced plans to build a chip fabrication facility in China is at the receiving end of opposition from critics. The plant is set to make semiconductors built on the mature 28nm process node. The Nanjing plant currently has an installed capacity of 20,000 wafers per month. An investment of $2.8 billion and expecting mass-production in 2023, the expansion will double capacity to 40,000 wafers per month.</p>\n<p>TSMC has global 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent). The new fab with a 20,000 wafer per month capacity represents just 2% of the company’s total capacity.</p>\n<p>UMC also expanded its production of 28nm (with a migration to 40nm) process at its Nanke 12-inch Fab 12A P6 plant in Taiwan. It currently has an 87,000 wafer per month capacity. The total investment in the capacity expansion plan is estimated to be approximately NT$100 billion. The P6 expansion is scheduled for production in the second quarter of 2023, and has a capacity of just 10,000 wafers per month.</p>\n<p>The P6 program is supported by a multi-year's product alignment between UMC and the involved customers that includes a loading protection mechanism that will ensure the P6 capacity is maintained at a healthy loading level.</p>\n<p>UMC has total 12 fabs in production with combined capacity close to 800,000 wafers per month (8-in equivalent).</p>\n<p><b>Price Per Wafer</b></p>\n<p>Chart 2 shows the gross profit by node for an IC device. It partially explains the rationale behind TSMC’s business model to move to advanced nodes, while also explaining why the company chose to leave its 28nm node undersupplied until recent external forces prompted it to build its China fab.</p>\n<p>Gross profits per 300-mm wafer are $2,835 for a 28nm node versus $8,695 for a 3nm node.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e241c85dd84eb71f54c3b11812e6599\" tg-width=\"640\" tg-height=\"462\"><span>Chart 2</span></p>\n<p>Chart 3 shows capex spend by node for ICs. Capex spend (building + equipment) at 28nm is $100,000 per wafer, which more than triples to $320,000 at 3nm.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1f8f60218f2b914e5847e2eef8aa39c3\" tg-width=\"640\" tg-height=\"462\"><span>Chart 3</span></p>\n<p><b>Customer Base</b></p>\n<p>Chart 4 shows that Apple (AAPL) was the largest customer of TSMC in 2020, representing 21% of revenues. Keep in mind that in addition to TSMC’s processors going into iPhones, TSMC also fabricates the M1, which powers the new MacBook Air, 13-inch MacBook Pro, and Mac mini and is Apple's first custom-designed Arm-based chip for Mac.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/354a97772e16c2a05dbccc89556de9eb\" tg-width=\"640\" tg-height=\"465\"><span>Chart 4</span></p>\n<p>TSMC has upgraded its manufacturing capabilities countless times to keep Apple’s latest chips at the bleeding edge of processor technologies, since its first chip produced for Apple was installed in the Apple iPhone 6 and iPhone 6 Plus, which were introduced on September 9, 2014.</p>\n<p>Chart 5 shows that the number of transistors increased from 2 billion for the iPhone 6 to 11.8 billion for the current iPhone 12.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/108ef270fe60691ec5bc8c7f0a061d9c\" tg-width=\"640\" tg-height=\"462\"><span>Chart 5</span></p>\n<p>Thus, investors must consider that:</p>\n<p>Any positive developments from Apple will impact TSMC positively, and positive technological developments from TSMC will impact Apple positively. For example, as long as TSMC is the major manufacturer of Apple chips, growth in Apple or new technologies developed by Apple requiring chips (such as Auto or ADAS), then TSMC will gain.</p>\n<p>Secondly, because of capacity limitations and technology node demands, any expansion in capacity from TSMC will be beneficial to Apple as it moves to smaller nodes while consuming about 25% of TSMC’s chip output on a revenue basis.</p>\n<p>UMC is less transparent and doesn’t provide a breakdown by customer. UMC’s primary customers include premier integrated device manufacturers, such as Texas Instruments(NASDAQ:TXN)and Intel Mobile(NASDAQ:INTC), plus leading fabless design companies, such as MediaTek(OTCPK:MDTKF), Realtek, Qualcomm(NASDAQ:QCOM)and Novatek.</p>\n<p>In August 2018, UMC announced it would pause research for advancing the productional technology of chips under 10nm nodes. As shown in the figure above, since 2018, the corresponding proportion of the company's advanced processes has been reduced to zero, but for mature nodes such as 65nm and 28nm, the proportion has been increased.</p>\n<p><b>Investor Takeaways</b>: Is TSM Or UMC Stock A Better Buy?</p>\n<p>Both companies compete in the same industry, but their business models are a differentiating metric. TSMC generates most of its revenue on nodes smaller than UMC’s (Chart 1), and most of its planned capex will focus new fabs making ICs at increasing smaller nodes.</p>\n<p><b>TSMC Positives</b></p>\n<p>TSMC’s share of the pure-play foundry market was 57% share in 2020, up from 55% in 2019. UMC’s share was constant at slightly less than 8%.</p>\n<p>TSMC benefits from the smaller nodes. Although capex increases with decreasing nodes (Chart 3), so too does gross profit (Chart 2). Thus, TSM has higher revenues than UMC: $48.2B vs $6.283B.</p>\n<ul>\n <li><p>TSMC also has higher annual earnings (EBITDA): $33B vs. UMC $2.349B.</p></li>\n <li><p>TSMC ($613B) has a higher market cap than UMC ($23.4B).</p></li>\n <li><p>TSMC has more cash on hand: $23.3B vs. UMC ($3.76B).</p></li>\n <li><p>TSMC has a higher EPS (3.99) than UMC (0.59).</p></li>\n</ul>\n<p>Seeking Alpha’s quant ratings are derived by measuring a stock's financial metrics against other stocks in the sector on the basis of value, growth, profitability, momentum and analysts’ earnings revisions. In Table 1, both stocks have high rankings. TSMC has a quant rating of 4.63 and UMC has a quant rating of 4.54.</p>\n<p><img src=\"https://static.tigerbbs.com/55db72bd38ddd1d46c2ec7a6ccf6307f\" tg-width=\"640\" tg-height=\"117\" referrerpolicy=\"no-referrer\"></p>\n<p>Gross margin for TSMC and UMC is shown in Table 2. A positive for TSMC, gross margin is significantly ahead of UMC and the average of all foundries. The Street expects 3Q21 gross margin will improve to 52.9%, given a higher revenue scale, tight foundry supply and improved efficiency of 5nm production.</p>\n<p><img src=\"https://static.tigerbbs.com/4ab6dce4d14398755080d9db48522121\" tg-width=\"640\" tg-height=\"126\" referrerpolicy=\"no-referrer\"></p>\n<p><b>UMC Positives</b></p>\n<p>The comparison of other financial metrics, UMC has stronger financials:</p>\n<ul>\n <li><p>UMC has a lower P/E ratio than TSM: 21.8 vs 28.9</p></li>\n <li><p>UMC has less debt than TSM: $2.47B vs $15.4B.</p></li>\n <li><p>UMC YTD gains are higher at: 10.558 vs. TSM (8.922).</p></li>\n</ul>\n<p>Table 3 shows stock performance in percent growth for TSM and UMC. In the past year, UMC stock has outperformed TSMC, and did so in the 3-year and 5-year period. But in a 10-year period, TSMC is the better choice.</p>\n<p><img src=\"https://static.tigerbbs.com/7533369f256853d498f5492752417e05\" tg-width=\"640\" tg-height=\"172\" referrerpolicy=\"no-referrer\"></p>\n<p>TSMC is the clear winner over UMC going forward. The company chose its strategy to build chips at the <7nm node. The fact that it is building a 28nm fab in China, the “sweet spot” for UMC, coupled with a new 28nm SMIC (OTCQX:SMICY) fab, will mean lost market share at this node for UMC.</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>Taiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTaiwan Semiconductor Vs. United Microelectronics Stock: Which Is The Better Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 08:54 GMT+8 <a href=https://seekingalpha.com/article/4438509-taiwan-semiconductor-vs-united-microelectronics-stock><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, manufacturing 11,617 different products using 281 distinct technologies for 510 different customers.\n...</p>\n\n<a href=\"https://seekingalpha.com/article/4438509-taiwan-semiconductor-vs-united-microelectronics-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电","UMC":"联电"},"source_url":"https://seekingalpha.com/article/4438509-taiwan-semiconductor-vs-united-microelectronics-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145284684","content_text":"Summary\n\nTSMC is the world’s largest foundry for making ICs for fabless semiconductor companies, manufacturing 11,617 different products using 281 distinct technologies for 510 different customers.\nTSMC and fellow Taiwan foundry United Microelectronics Corporation are expected to benefit from a chip-supply crisis that is adversely impacting automakers.\nTSMC benefits from a gross margin nearly twice that of UMC.\n40% of revenues are from nodes <14nm, below the smallest node of UMC.\n\nBING-JHEN HONG/iStock Editorial via Getty Images\nTaiwan Semiconductor Manufacturing Company Limited or TSMC (TSM), and United Microelectronics Corporation or UMC (UMC) are both headquartered in Taiwan and both manufacture semiconductors for companies on a contract basis. They both provide high quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry and are defined as pure-play foundries.\nWhile they have similarities, the two companies are vastly different with different business models. TSMC started as and has always been a leading-edge company, manufacturing chips at the smallest dimensions. UMC, on the other hand, Taiwan’s first semiconductor company, has chosen the 14nm node as the smallest dimension it will manufacture.\nTo illustrate the differences in models, Chart 1 shows revenues for both companies based on technology node. The key difference is the <14nm node, where TSMC generated 41.4% of its revenue compared to 0% for UMC.\nChart 1 also shows that TSMC held $43 billion in revenues in 2020 versus $6 billion for UMC. Importantly, it shows also shows the financial dominance of TSMC, since UMC holds second place in the global foundry market.\nChart 1\nMuch of TSMC’s revenues are on the <14nm node, which increased from 29.4% of revenues in 2019 to 41.4% in 2020. Since UMC’s smallest node is 28nm/14nm, UMC is investing heavily at that node, and its share of revenue increased from 11.3% in 2019 to 13.6% in 2020. In contrast, in 2020 TSMC’s share at the 28nm/14nm node decreased to 30.8% from 37.7% in 2019.\nExpanding Capacity\nLeading Edge Nodes\nTSMC generates about 1/3 of its revenues from the 28nm/14nm, and TSMC has 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent).\nIn TSMC’sQ1 2021 earnings call, TSMC’s VP and CFO Wendell Huang noted:\n\n “In order to meet the increasing demand for our advanced and specialty technologies in the next several years, we have decided to raise our full year 2021 CapEx to be around USD 30 billion. About 80% of the 2021 capital budget will be allocated for advanced process technologies, including 3-nanometer, 5-nanometer and 7-nanometer. About 10% will be spent for advanced packaging and mask making, and about 10% will be spent for specialty technologies.”\n\nTSMC expects to invest about $100 billion through the next 3 years to increase capacity, to support the manufacturing and R&D of leading-edge and specialty technologies. Its N5 is already in its second year of volume production, contributing around 20% of our wafer revenue in 2021. N4 risk production is targeted for second half this year and volume production in 2022.\nAmong TSMC's facilities to go online in the next three to four years are the company's fab in Arizona as well as its first 2nm-capable fab in Taiwan. The company needs to build and equip its N5-capable fab in Arizona. The facility will cost around $12 billion, will have a capacity of 20,000 wafer starts per month (WSPM), and will come online in 2024.\n28nm Nodes\nThe global semiconductor shortage is one of the catalysts prompting foundry manufacturers to build new fabs, particularly at the 28nm node, as many automobile chips are manufactured at that node. While I have devoted four Seeking Alpha articles on trying to pin down what devices are undersupplied and could only find microcontrollers, in this article, I will concede for the sake of argument, that it is not due to hoarding but inept manufacturing supply chains.\nAs a result, governments are spending heavily on this industry to expand the total production capacity. These free handouts are a second catalyst for new 28nm node fab construction.\nA strong demand for wafers from the consumer electronics industry has led to increased shipments of UMC’s 28nm wafers, which saw 18% sequential revenue growth in the last reported quarter. In addition, UMC has been focused on production for the automotive industry as semiconductors for electric and self-driving cars are expected to be a major growth driver for the company. However, global automotive semiconductors are only a $40 billion market, compared to a global semiconductor market of $525 billion. That is growing as more semiconductors are used per vehicle each year and because EVs use more semiconductors than internal combustion vehicles.\nThere is a supply-demand imbalance in mature nodes, as most of the capacity expansion has been in advanced nodes, but companies have not addressed the mature nodes. The technology node is central to the latest auto chip crisis, while at the same time Sony has moved its design of CMOS Integrated Sensors (\"CIS\") for smartphones to 28nm.\nOn April 22, TSMC announced plans to build a chip fabrication facility in China is at the receiving end of opposition from critics. The plant is set to make semiconductors built on the mature 28nm process node. The Nanjing plant currently has an installed capacity of 20,000 wafers per month. An investment of $2.8 billion and expecting mass-production in 2023, the expansion will double capacity to 40,000 wafers per month.\nTSMC has global 562,000 wafers/month of 8\" capacity, and 745,000 wafers/month of 12\" capacity. The total capacity is 995,000 wafers/month (12-inch equivalent). The new fab with a 20,000 wafer per month capacity represents just 2% of the company’s total capacity.\nUMC also expanded its production of 28nm (with a migration to 40nm) process at its Nanke 12-inch Fab 12A P6 plant in Taiwan. It currently has an 87,000 wafer per month capacity. The total investment in the capacity expansion plan is estimated to be approximately NT$100 billion. The P6 expansion is scheduled for production in the second quarter of 2023, and has a capacity of just 10,000 wafers per month.\nThe P6 program is supported by a multi-year's product alignment between UMC and the involved customers that includes a loading protection mechanism that will ensure the P6 capacity is maintained at a healthy loading level.\nUMC has total 12 fabs in production with combined capacity close to 800,000 wafers per month (8-in equivalent).\nPrice Per Wafer\nChart 2 shows the gross profit by node for an IC device. It partially explains the rationale behind TSMC’s business model to move to advanced nodes, while also explaining why the company chose to leave its 28nm node undersupplied until recent external forces prompted it to build its China fab.\nGross profits per 300-mm wafer are $2,835 for a 28nm node versus $8,695 for a 3nm node.\nChart 2\nChart 3 shows capex spend by node for ICs. Capex spend (building + equipment) at 28nm is $100,000 per wafer, which more than triples to $320,000 at 3nm.\nChart 3\nCustomer Base\nChart 4 shows that Apple (AAPL) was the largest customer of TSMC in 2020, representing 21% of revenues. Keep in mind that in addition to TSMC’s processors going into iPhones, TSMC also fabricates the M1, which powers the new MacBook Air, 13-inch MacBook Pro, and Mac mini and is Apple's first custom-designed Arm-based chip for Mac.\nChart 4\nTSMC has upgraded its manufacturing capabilities countless times to keep Apple’s latest chips at the bleeding edge of processor technologies, since its first chip produced for Apple was installed in the Apple iPhone 6 and iPhone 6 Plus, which were introduced on September 9, 2014.\nChart 5 shows that the number of transistors increased from 2 billion for the iPhone 6 to 11.8 billion for the current iPhone 12.\nChart 5\nThus, investors must consider that:\nAny positive developments from Apple will impact TSMC positively, and positive technological developments from TSMC will impact Apple positively. For example, as long as TSMC is the major manufacturer of Apple chips, growth in Apple or new technologies developed by Apple requiring chips (such as Auto or ADAS), then TSMC will gain.\nSecondly, because of capacity limitations and technology node demands, any expansion in capacity from TSMC will be beneficial to Apple as it moves to smaller nodes while consuming about 25% of TSMC’s chip output on a revenue basis.\nUMC is less transparent and doesn’t provide a breakdown by customer. UMC’s primary customers include premier integrated device manufacturers, such as Texas Instruments(NASDAQ:TXN)and Intel Mobile(NASDAQ:INTC), plus leading fabless design companies, such as MediaTek(OTCPK:MDTKF), Realtek, Qualcomm(NASDAQ:QCOM)and Novatek.\nIn August 2018, UMC announced it would pause research for advancing the productional technology of chips under 10nm nodes. As shown in the figure above, since 2018, the corresponding proportion of the company's advanced processes has been reduced to zero, but for mature nodes such as 65nm and 28nm, the proportion has been increased.\nInvestor Takeaways: Is TSM Or UMC Stock A Better Buy?\nBoth companies compete in the same industry, but their business models are a differentiating metric. TSMC generates most of its revenue on nodes smaller than UMC’s (Chart 1), and most of its planned capex will focus new fabs making ICs at increasing smaller nodes.\nTSMC Positives\nTSMC’s share of the pure-play foundry market was 57% share in 2020, up from 55% in 2019. UMC’s share was constant at slightly less than 8%.\nTSMC benefits from the smaller nodes. Although capex increases with decreasing nodes (Chart 3), so too does gross profit (Chart 2). Thus, TSM has higher revenues than UMC: $48.2B vs $6.283B.\n\nTSMC also has higher annual earnings (EBITDA): $33B vs. UMC $2.349B.\nTSMC ($613B) has a higher market cap than UMC ($23.4B).\nTSMC has more cash on hand: $23.3B vs. UMC ($3.76B).\nTSMC has a higher EPS (3.99) than UMC (0.59).\n\nSeeking Alpha’s quant ratings are derived by measuring a stock's financial metrics against other stocks in the sector on the basis of value, growth, profitability, momentum and analysts’ earnings revisions. In Table 1, both stocks have high rankings. TSMC has a quant rating of 4.63 and UMC has a quant rating of 4.54.\n\nGross margin for TSMC and UMC is shown in Table 2. A positive for TSMC, gross margin is significantly ahead of UMC and the average of all foundries. The Street expects 3Q21 gross margin will improve to 52.9%, given a higher revenue scale, tight foundry supply and improved efficiency of 5nm production.\n\nUMC Positives\nThe comparison of other financial metrics, UMC has stronger financials:\n\nUMC has a lower P/E ratio than TSM: 21.8 vs 28.9\nUMC has less debt than TSM: $2.47B vs $15.4B.\nUMC YTD gains are higher at: 10.558 vs. TSM (8.922).\n\nTable 3 shows stock performance in percent growth for TSM and UMC. In the past year, UMC stock has outperformed TSMC, and did so in the 3-year and 5-year period. But in a 10-year period, TSMC is the better choice.\n\nTSMC is the clear winner over UMC going forward. The company chose its strategy to build chips at the <7nm node. The fact that it is building a 28nm fab in China, the “sweet spot” for UMC, coupled with a new 28nm SMIC (OTCQX:SMICY) fab, will mean lost market share at this node for UMC.","news_type":1,"symbols_score_info":{"TSM":0.9,"UMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1964,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141432859,"gmtCreate":1625884369971,"gmtModify":1633936406749,"author":{"id":"3565599896015293","authorId":"3565599896015293","name":"spidy13","avatar":"https://static.tigerbbs.com/9cbef765f1767db803068d964456b3c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565599896015293","authorIdStr":"3565599896015293"},"themes":[],"htmlText":"Amazonnnnnnnb","listText":"Amazonnnnnnnb","text":"Amazonnnnnnnb","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141432859","repostId":"1162091150","repostType":4,"isVote":1,"tweetType":1,"viewCount":1044,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141436492,"gmtCreate":1625884340716,"gmtModify":1633936407321,"author":{"id":"3565599896015293","authorId":"3565599896015293","name":"spidy13","avatar":"https://static.tigerbbs.com/9cbef765f1767db803068d964456b3c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565599896015293","authorIdStr":"3565599896015293"},"themes":[],"htmlText":"More ↗️↗️↗️","listText":"More ↗️↗️↗️","text":"More ↗️↗️↗️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/141436492","repostId":"2150053623","repostType":4,"repost":{"id":"2150053623","kind":"highlight","pubTimestamp":1625883910,"share":"https://www.laohu8.com/m/news/2150053623?lang=&edition=full","pubTime":"2021-07-10 10:25","market":"hk","language":"en","title":"A crazy week for U.S. stocks came with a change in the market narrative -- should investors believe it?","url":"https://stock-news.laohu8.com/highlight/detail?id=2150053623","media":"MarketWatch","summary":"Investors must decide whether they believe stalling economic growth is a bigger threat than an infla","content":"<p>Investors must decide whether they believe stalling economic growth is a bigger threat than an inflation surge</p>\n<p><img src=\"https://static.tigerbbs.com/32ec205cf1616aaba5573cc40240a899\" tg-width=\"1260\" tg-height=\"876\"></p>\n<p>Fears of runaway inflation have been swapped for worries about a rapid slowdown in global economic growth -- and that made for one very long, holiday-shortened week for U.S. investors -- but is this new narrative the right <a href=\"https://laohu8.com/S/AONE.U\">one</a> ?</p>\n<p>A Treasury debt rally became a buying frenzy , sending long-term yields sharply lower. That took any remaining wind out of the sails of the so-called reflation trade, which had favored shares of more cyclically sensitive companies expected to benefit the most from rising prices and accelerating economic growth.</p>\n<p>What changed? There are three important elements to the shift in the market narrative, said Lauren Goodwin, economist and portfolio strategist at New York Life Investments, which has $605 billion in assets under management.</p>\n<p>The first is a perceived change in the way the Federal Reserve reacts to data, with investors no longer looking for policy makers to be as tolerant of economic overheating and rising inflation as previously thought, she said. The second is that while economic growth is expected to remain strong, the pace of growth is expected to have peaked . Third, there are worries the spread of the delta and other variants of the coronavirus that causes COVID-19 could force a renewed round of restrictions that will weigh on global economic activity.</p>\n<p>\"Together, that's a very different consensus market narrative than we had a few weeks ago, when the focus was all about stimulus and overheating,\" Goodwin said, in a phone interview, noting that investors must now ask: \"Is this new narrative the right one?\"</p>\n<p>The real pain in the past week was in the Treasury market, where a rally drove long-term yields sharply lower and prices higher. Much of that rally was attributed to forced short covering by Treasury bears, who had feared inflation, creating something of a feeding frenzy, driving the 10-year yield to a five-month low below 1.25% on Thursday before finally relenting.</p>\n<p>But analysts said the move, at least in part, also reflected legitimate concerns over the global economic growth outlook .</p>\n<p>That Thursday dive in yields, and accompanying growth fears, triggered a broad stock-market selloff that saw the S&P 500 and Nasdaq Composite retreat from all-time highs, while the Dow Jones Industrial Average shed more than 500 points at its session low. Stocks trimmed losses by the close and then pushed higher Friday, with all three major indexes finishing at records .</p>\n<p>One casualty was the stock market reflation trade. The small-cap Russell 2000 index RUT (#phrase-company?ref=COMPANY%7CRUT;onlineSignificance=passing-mention) fell 1.1% for a second straight week of losses, while the tech-heavy Nasdaq-100 saw a 0.4% weekly rise. Value stocks underperformed, with the Russell 1000 Value Index falling 0.3%, while the Russell 1000 Growth Index rose 1%.</p>\n<p>\"The 'reflation' and 'rotation' trades -- associated with optimism about rapid, broad-based economic recovery from the pandemic and higher inflation -- has arguably been flagging since as long ago as the end of the first quarter, but clearly took another hit this week,\" said Oliver Jones, senior markets economist at research firm Capital Economics, in a Friday note.</p>\n<p>Sectors, like energy and financials, and factors, such as value, that benefited most from the reflation/rotation narrative have underperformed, he noted.</p>\n<p>Jones argued that it makes sense for optimism about the U.S. economic recovery to top out as supply constraints bite into activity. And global growth expectations may also see pressure, with China's economy likely to continue to disappoint.</p>\n<p>At the same time, the U.S. economy remains on track for a very strong recovery in absolute terms, far exceeding the one that followed the global financial crisis of 2008. And core inflation in the U.S. may prove somewhat more persistent than anticipated, he argued.</p>\n<p>That sets the stage for a scenario in which \"the rotation/reflation trade label may become progressively less useful in the coming quarters,\" he said.</p>\n<p>In particular, parts of the trade, including rapid gains in most stock markets and outperformance by energy companies is likely over for now, he said, while the drop in Treasury yields is probably an \"overreaction\" given the path of growth and inflation in the U.S.</p>\n<p>Investors will get a look at evidence on both the inflation and growth front in the coming week. The June consumer-price index is set for release Tuesday, while a producer-price reading is set for Wednesday. A raft of other economic data is due over the course of the week, including June retail sales figures on Friday.</p>\n<p>And then there's the start of the corporate earnings reporting season, which is expected to offer another peak as profits roared in the second quarter relative to the early days of the pandemic last year.</p>\n<p>\"With earnings season kicking off next week, the bar is set quite high and corporate America better produce another stellar quarter or there could be some disappointed bulls,\" said Ryan Detrick, chief market strategist at LPL Financial, after Friday's record close.</p>\n<p>Goodwin said the choice for investors boils down to either leaning into the old narrative that benefits cyclical stocks and shorter duration assets or the new one that expects economic growth to prove more sluggish and anemic, much as it was before the pandemic, favoring growth stocks and defensive sectors.</p>\n<p>The best response, however, may be a little bit of both, Goodwin said.</p>\n<p>Reflation likely still has some room to run in the near term. Distribution of child tax credit payments will begin later this month, while labor shortages may be alleviated in coming months as children return to school and additional unemployment benefits expire, she said, while consumers are sitting on sizable savings.</p>\n<p>At the same time, growth and inflation are peaking, she said, and valuations are stretched across asset classes. While still maintaining a cyclical tilt, the changing backdrop calls for a more balanced approach to portfolios, she said.</p>\n<p>Investors need to look closely at sectors and individual companies that can leverage changing trends and pass rising prices on to consumers, she said, in a more selective environment rather than one in which a rising tide raises all boats.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A crazy week for U.S. stocks came with a change in the market narrative -- should investors believe it?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nA crazy week for U.S. stocks came with a change in the market narrative -- should investors believe it?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 10:25 GMT+8 <a href=https://www.marketwatch.com/story/a-crazy-week-for-u-s-stocks-came-with-a-change-in-the-market-narrative-should-investors-believe-it-11625865324?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors must decide whether they believe stalling economic growth is a bigger threat than an inflation surge\n\nFears of runaway inflation have been swapped for worries about a rapid slowdown in ...</p>\n\n<a href=\"https://www.marketwatch.com/story/a-crazy-week-for-u-s-stocks-came-with-a-change-in-the-market-narrative-should-investors-believe-it-11625865324?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/a-crazy-week-for-u-s-stocks-came-with-a-change-in-the-market-narrative-should-investors-believe-it-11625865324?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2150053623","content_text":"Investors must decide whether they believe stalling economic growth is a bigger threat than an inflation surge\n\nFears of runaway inflation have been swapped for worries about a rapid slowdown in global economic growth -- and that made for one very long, holiday-shortened week for U.S. investors -- but is this new narrative the right one ?\nA Treasury debt rally became a buying frenzy , sending long-term yields sharply lower. That took any remaining wind out of the sails of the so-called reflation trade, which had favored shares of more cyclically sensitive companies expected to benefit the most from rising prices and accelerating economic growth.\nWhat changed? There are three important elements to the shift in the market narrative, said Lauren Goodwin, economist and portfolio strategist at New York Life Investments, which has $605 billion in assets under management.\nThe first is a perceived change in the way the Federal Reserve reacts to data, with investors no longer looking for policy makers to be as tolerant of economic overheating and rising inflation as previously thought, she said. The second is that while economic growth is expected to remain strong, the pace of growth is expected to have peaked . Third, there are worries the spread of the delta and other variants of the coronavirus that causes COVID-19 could force a renewed round of restrictions that will weigh on global economic activity.\n\"Together, that's a very different consensus market narrative than we had a few weeks ago, when the focus was all about stimulus and overheating,\" Goodwin said, in a phone interview, noting that investors must now ask: \"Is this new narrative the right one?\"\nThe real pain in the past week was in the Treasury market, where a rally drove long-term yields sharply lower and prices higher. Much of that rally was attributed to forced short covering by Treasury bears, who had feared inflation, creating something of a feeding frenzy, driving the 10-year yield to a five-month low below 1.25% on Thursday before finally relenting.\nBut analysts said the move, at least in part, also reflected legitimate concerns over the global economic growth outlook .\nThat Thursday dive in yields, and accompanying growth fears, triggered a broad stock-market selloff that saw the S&P 500 and Nasdaq Composite retreat from all-time highs, while the Dow Jones Industrial Average shed more than 500 points at its session low. Stocks trimmed losses by the close and then pushed higher Friday, with all three major indexes finishing at records .\nOne casualty was the stock market reflation trade. The small-cap Russell 2000 index RUT (#phrase-company?ref=COMPANY%7CRUT;onlineSignificance=passing-mention) fell 1.1% for a second straight week of losses, while the tech-heavy Nasdaq-100 saw a 0.4% weekly rise. Value stocks underperformed, with the Russell 1000 Value Index falling 0.3%, while the Russell 1000 Growth Index rose 1%.\n\"The 'reflation' and 'rotation' trades -- associated with optimism about rapid, broad-based economic recovery from the pandemic and higher inflation -- has arguably been flagging since as long ago as the end of the first quarter, but clearly took another hit this week,\" said Oliver Jones, senior markets economist at research firm Capital Economics, in a Friday note.\nSectors, like energy and financials, and factors, such as value, that benefited most from the reflation/rotation narrative have underperformed, he noted.\nJones argued that it makes sense for optimism about the U.S. economic recovery to top out as supply constraints bite into activity. And global growth expectations may also see pressure, with China's economy likely to continue to disappoint.\nAt the same time, the U.S. economy remains on track for a very strong recovery in absolute terms, far exceeding the one that followed the global financial crisis of 2008. And core inflation in the U.S. may prove somewhat more persistent than anticipated, he argued.\nThat sets the stage for a scenario in which \"the rotation/reflation trade label may become progressively less useful in the coming quarters,\" he said.\nIn particular, parts of the trade, including rapid gains in most stock markets and outperformance by energy companies is likely over for now, he said, while the drop in Treasury yields is probably an \"overreaction\" given the path of growth and inflation in the U.S.\nInvestors will get a look at evidence on both the inflation and growth front in the coming week. The June consumer-price index is set for release Tuesday, while a producer-price reading is set for Wednesday. A raft of other economic data is due over the course of the week, including June retail sales figures on Friday.\nAnd then there's the start of the corporate earnings reporting season, which is expected to offer another peak as profits roared in the second quarter relative to the early days of the pandemic last year.\n\"With earnings season kicking off next week, the bar is set quite high and corporate America better produce another stellar quarter or there could be some disappointed bulls,\" said Ryan Detrick, chief market strategist at LPL Financial, after Friday's record close.\nGoodwin said the choice for investors boils down to either leaning into the old narrative that benefits cyclical stocks and shorter duration assets or the new one that expects economic growth to prove more sluggish and anemic, much as it was before the pandemic, favoring growth stocks and defensive sectors.\nThe best response, however, may be a little bit of both, Goodwin said.\nReflation likely still has some room to run in the near term. Distribution of child tax credit payments will begin later this month, while labor shortages may be alleviated in coming months as children return to school and additional unemployment benefits expire, she said, while consumers are sitting on sizable savings.\nAt the same time, growth and inflation are peaking, she said, and valuations are stretched across asset classes. While still maintaining a cyclical tilt, the changing backdrop calls for a more balanced approach to portfolios, she said.\nInvestors need to look closely at sectors and individual companies that can leverage changing trends and pass rising prices on to consumers, she said, in a more selective environment rather than one in which a rising tide raises all boats.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1027,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153655191,"gmtCreate":1625023532113,"gmtModify":1633945711799,"author":{"id":"3565599896015293","authorId":"3565599896015293","name":"spidy13","avatar":"https://static.tigerbbs.com/9cbef765f1767db803068d964456b3c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565599896015293","authorIdStr":"3565599896015293"},"themes":[],"htmlText":"More","listText":"More","text":"More","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153655191","repostId":"1122418477","repostType":4,"isVote":1,"tweetType":1,"viewCount":938,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}