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Ireneccw
Ireneccw
·
2021-07-30
Ojhxhchcjx
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Ireneccw
Ireneccw
·
2021-07-29
Ok//
@Jlenglui
: ok
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Ireneccw
Ireneccw
·
2021-06-27
Wow
Microsoft Rides Its Cloud Business to a $2 Trillion Market Cap. It’s Not Done Yet.<blockquote>微软的云业务市值达到2万亿美元。还没做完呢。</blockquote>
Microsoft is now the second company to boast a $2 trillion market capitalization, following Apple,wh
Microsoft Rides Its Cloud Business to a $2 Trillion Market Cap. It’s Not Done Yet.<blockquote>微软的云业务市值达到2万亿美元。还没做完呢。</blockquote>
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Ireneccw
Ireneccw
·
2021-06-24
Love loveee
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Ireneccw
Ireneccw
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2021-06-24
Followww
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Ireneccw
Ireneccw
·
2021-06-23
Yes
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Ireneccw
Ireneccw
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2021-06-23
Yes good
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Ireneccw
Ireneccw
·
2021-06-23
Cool
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Ireneccw
Ireneccw
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2021-06-23
Wow
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Ireneccw
Ireneccw
·
2021-06-22
Cool
This Big Tech Stock Is Always on Sale<blockquote>这只大型科技股总是在打折</blockquote>
Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—
This Big Tech Stock Is Always on Sale<blockquote>这只大型科技股总是在打折</blockquote>
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11:35","market":"us","language":"en","title":"Microsoft Rides Its Cloud Business to a $2 Trillion Market Cap. It’s Not Done Yet.<blockquote>微软的云业务市值达到2万亿美元。还没做完呢。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104974895","media":"Barrons","summary":"Microsoft is now the second company to boast a $2 trillion market capitalization, following Apple,wh","content":"<p>Microsoft is now the second company to boast a $2 trillion market capitalization, following Apple,which breached that level last August. And Microsoft may go higher yet.</p><p><blockquote>微软现在是继去年8月突破这一水平的苹果之后第二家市值达到2万亿美元的公司。微软可能会走得更高。</blockquote></p><p> Wedbush analyst Daniel Ives this past week reiterated his Outperform rating on the software giant, lifting his price target on the shares to $325 from $310. That represents a potential gain of more than 20%, which would take the company’s market value to $2.4 trillion. His enthusiasm for the stock is driven by Microsoft’s cloud business, Azure.</p><p><blockquote>Wedbush分析师丹尼尔·艾夫斯(Daniel Ives)上周重申了对这家软件巨头的跑赢大盘评级,将该股目标价从310美元上调至325美元。这意味着潜在涨幅超过20%,这将使该公司的市值达到2.4万亿美元。他对该股的热情是由微软的云业务Azure推动的。</blockquote></p><p> On Wednesday, Microsoft shares inched up 0.1% to $265.79, a new high, boosting its market cap to $2.004 trillion. (Apple is at roughly $2.2 trillion.) Ives notes that June channel checks find improving demand for Azure. “The Azure cloud growth story is hitting its next gear of growth,” he writes. “We are seeing deal sizes continue to increase markedly as enterprisewide digital transformation shifts are accelerating with CIOs all focused on readying their respective enterprises for a cloud-driven architecture.”</p><p><blockquote>周三,微软股价小幅上涨0.1%,至265.79美元,创下新高,市值增至2.004万亿美元。(苹果的市值约为2.2万亿美元。)Ives指出,6月份的渠道检查发现对Azure的需求有所改善。“Azure云的增长故事正在进入下一个增长阶段,”他写道。“随着企业范围内数字化转型的加速,我们看到交易规模继续显着增加,首席信息官都专注于让各自的企业为云驱动架构做好准备。”</blockquote></p><p> Wall Street concerns that cloud growth will moderate coming out of the pandemic run counter to the deal activity Microsoft is seeing, Ives writes, noting that June-quarter results appear to be “robust.” He thinks Microsoft is still only about 35% into the conversion of its installed application base into the cloud.</p><p><blockquote>Ives写道,华尔街担心云增长将因疫情而放缓,这与微软看到的交易活动背道而驰,并指出6月份季度的业绩似乎“强劲”。他认为微软在将其已安装的应用程序基础向云的转换方面仍仅完成了约35%。</blockquote></p><p> Ives sees continuing global “digital transformation” as a $1 trillion opportunity, and says Microsoft will disproportionately benefit. “Microsoft remains our favorite large-cap cloud play and we believe the stock will start to move higher over the coming quarters...,” he writes. “The growth story at Microsoft is not slowing down.”</p><p><blockquote>Ives认为持续的全球“数字化转型”是一个1万亿美元的机会,并表示微软将不成比例地受益。“微软仍然是我们最喜欢的大盘云股,我们相信该股将在未来几个季度开始走高……”他写道。“微软的增长故事并没有放缓。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19e4bb0961389beaa2711931e02dc060\" tg-width=\"970\" tg-height=\"672\"><img src=\"https://static.tigerbbs.com/1a62e0638b1f4f9c28301e4d93721571\" tg-width=\"981\" tg-height=\"684\"></p><p><blockquote></blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft Rides Its Cloud Business to a $2 Trillion Market Cap. It’s Not Done Yet.<blockquote>微软的云业务市值达到2万亿美元。还没做完呢。</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\">\nMicrosoft Rides Its Cloud Business to a $2 Trillion Market Cap. It’s Not Done Yet.<blockquote>微软的云业务市值达到2万亿美元。还没做完呢。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-27 11:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Microsoft is now the second company to boast a $2 trillion market capitalization, following Apple,which breached that level last August. And Microsoft may go higher yet.</p><p><blockquote>微软现在是继去年8月突破这一水平的苹果之后第二家市值达到2万亿美元的公司。微软可能会走得更高。</blockquote></p><p> Wedbush analyst Daniel Ives this past week reiterated his Outperform rating on the software giant, lifting his price target on the shares to $325 from $310. That represents a potential gain of more than 20%, which would take the company’s market value to $2.4 trillion. His enthusiasm for the stock is driven by Microsoft’s cloud business, Azure.</p><p><blockquote>Wedbush分析师丹尼尔·艾夫斯(Daniel Ives)上周重申了对这家软件巨头的跑赢大盘评级,将该股目标价从310美元上调至325美元。这意味着潜在涨幅超过20%,这将使该公司的市值达到2.4万亿美元。他对该股的热情是由微软的云业务Azure推动的。</blockquote></p><p> On Wednesday, Microsoft shares inched up 0.1% to $265.79, a new high, boosting its market cap to $2.004 trillion. (Apple is at roughly $2.2 trillion.) Ives notes that June channel checks find improving demand for Azure. “The Azure cloud growth story is hitting its next gear of growth,” he writes. “We are seeing deal sizes continue to increase markedly as enterprisewide digital transformation shifts are accelerating with CIOs all focused on readying their respective enterprises for a cloud-driven architecture.”</p><p><blockquote>周三,微软股价小幅上涨0.1%,至265.79美元,创下新高,市值增至2.004万亿美元。(苹果的市值约为2.2万亿美元。)Ives指出,6月份的渠道检查发现对Azure的需求有所改善。“Azure云的增长故事正在进入下一个增长阶段,”他写道。“随着企业范围内数字化转型的加速,我们看到交易规模继续显着增加,首席信息官都专注于让各自的企业为云驱动架构做好准备。”</blockquote></p><p> Wall Street concerns that cloud growth will moderate coming out of the pandemic run counter to the deal activity Microsoft is seeing, Ives writes, noting that June-quarter results appear to be “robust.” He thinks Microsoft is still only about 35% into the conversion of its installed application base into the cloud.</p><p><blockquote>Ives写道,华尔街担心云增长将因疫情而放缓,这与微软看到的交易活动背道而驰,并指出6月份季度的业绩似乎“强劲”。他认为微软在将其已安装的应用程序基础向云的转换方面仍仅完成了约35%。</blockquote></p><p> Ives sees continuing global “digital transformation” as a $1 trillion opportunity, and says Microsoft will disproportionately benefit. “Microsoft remains our favorite large-cap cloud play and we believe the stock will start to move higher over the coming quarters...,” he writes. “The growth story at Microsoft is not slowing down.”</p><p><blockquote>Ives认为持续的全球“数字化转型”是一个1万亿美元的机会,并表示微软将不成比例地受益。“微软仍然是我们最喜欢的大盘云股,我们相信该股将在未来几个季度开始走高……”他写道。“微软的增长故事并没有放缓。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19e4bb0961389beaa2711931e02dc060\" tg-width=\"970\" tg-height=\"672\"><img src=\"https://static.tigerbbs.com/1a62e0638b1f4f9c28301e4d93721571\" tg-width=\"981\" tg-height=\"684\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.barrons.com/articles/microsoft-market-cap-51624670572?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软"},"source_url":"https://www.barrons.com/articles/microsoft-market-cap-51624670572?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104974895","content_text":"Microsoft is now the second company to boast a $2 trillion market capitalization, following Apple,which breached that level last August. And Microsoft may go higher yet.\nWedbush analyst Daniel Ives this past week reiterated his Outperform rating on the software giant, lifting his price target on the shares to $325 from $310. That represents a potential gain of more than 20%, which would take the company’s market value to $2.4 trillion. His enthusiasm for the stock is driven by Microsoft’s cloud business, Azure.\nOn Wednesday, Microsoft shares inched up 0.1% to $265.79, a new high, boosting its market cap to $2.004 trillion. (Apple is at roughly $2.2 trillion.) Ives notes that June channel checks find improving demand for Azure. “The Azure cloud growth story is hitting its next gear of growth,” he writes. “We are seeing deal sizes continue to increase markedly as enterprisewide digital transformation shifts are accelerating with CIOs all focused on readying their respective enterprises for a cloud-driven architecture.”\nWall Street concerns that cloud growth will moderate coming out of the pandemic run counter to the deal activity Microsoft is seeing, Ives writes, noting that June-quarter results appear to be “robust.” He thinks Microsoft is still only about 35% into the conversion of its installed application base into the cloud.\nIves sees continuing global “digital transformation” as a $1 trillion opportunity, and says Microsoft will disproportionately benefit. “Microsoft remains our favorite large-cap cloud play and we believe the stock will start to move higher over the coming quarters...,” he writes. “The growth story at Microsoft is not slowing down.”","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":2382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128758070,"gmtCreate":1624533397790,"gmtModify":1631890977504,"author":{"id":"3581848819650492","authorId":"3581848819650492","name":"Ireneccw","avatar":"https://static.tigerbbs.com/3fecf2432b3116f2857d8c1407ae1c6c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581848819650492","idStr":"3581848819650492"},"themes":[],"htmlText":"Love loveee","listText":"Love loveee","text":"Love 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22:43","market":"us","language":"en","title":"This Big Tech Stock Is Always on Sale<blockquote>这只大型科技股总是在打折</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188659531","media":"The Wall Street Journal","summary":"Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—","content":"<p> Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—and the full extent of its discount problem <img src=\"https://static.tigerbbs.com/7190040397780616cd6d06eb9b8f423c\" tg-width=\"879\" tg-height=\"513\">Getting 50% off isn’t such an unmissable opportunity when there is no end to the discounting in sight.</p><p><blockquote>腾讯控股的主要股东Prosus透露了其390亿美元初创公司投资组合的价值以及其折扣问题的全部程度当折扣看不到尽头时,享受50%的折扣并不是一个不容错过的机会。</blockquote></p><p> Prosus is one of the most valuable tech companies listed in Europeby virtue of its big stakein Chinese internet giant Tencent, bought two decades ago for $34 million and now worth $216 billion, even after two share sales. The Amsterdam-based company also owns a portfolio of e-commerce startups that, like Tencent, have mainly thrived during the pandemic. Prosus revealed an estimate by Deloitte of their valuation for the first time Monday. According to the accounting firm, they are worth in aggregate $39 billion, up from roughly $20 billion a year ago.</p><p><blockquote>Prosus是欧洲上市的最有价值的科技公司之一,因为它持有中国互联网巨头腾讯控股的大量股份,20年前以3400万美元的价格收购了该公司,即使在两次股票出售后,该公司现在的价值仍为2160亿美元。这家总部位于阿姆斯特丹的公司还拥有一系列电子商务初创公司,这些公司与腾讯控股一样,主要在疫情期间蓬勃发展。Prosus周一首次披露了德勤对其估值的估计。据该会计师事务所称,他们的总价值为390亿美元,高于一年前的约200亿美元。</blockquote></p><p> The strong valuation is a double-edged sword. It suggests that Prosus’ operations are headed in the right direction, but it also lays painfully bare the gulf between their value and its stock price. If you add the $39 billion to $216 billion for the Tencent stake, roughly $1 billion for a similar minority stake in Russian internet company Mail.ru and almost $12 billion in net cash, you get an implied equity value of $268 billion for Prosus. Its market capitalization is just $162 billion—a discount of 39%.</p><p><blockquote>强劲的估值是一把双刃剑。这表明Prosus的运营正朝着正确的方向发展,但也痛苦地暴露了其价值与其股价之间的差距。如果你加上390亿至2160亿美元的腾讯控股股份、大约10亿美元的俄罗斯互联网公司Mail.ru类似少数股权以及近120亿美元的净现金,你会得到Prosus的隐含股权价值为2680亿美元。其市值仅为1620亿美元,折价39%。</blockquote></p><p> The gap widens further if you step further up the ownership chain. Prosus is majority-owned by South African holding companyNaspers,NPSNY-0.70%whose shares trade roughly 23% below the value of its Prosus stake. Overall, Naspers shareholders are getting less than half the value of the internet businesses and stakes owned by Prosus.</p><p><blockquote>如果你在所有权链上走得更远,差距会进一步扩大。Prosus的多数股权由南非控股公司Naspers(NPSNY-0.70%)持有,该公司的股价比其Prosus股份的价值低约23%。总体而言,Naspers股东获得的互联网业务和股份价值还不到Prosus拥有的一半。</blockquote></p><p> Such financial inefficiency might present an opportunity if the reasons weren’t so intractable. Naspers, which built the portfolio,spun Prosus offto reduce its own heavy weighting on the South African stock market, which gave portfolio managers an ongoing technical reason to sell its stock. Less than two years later, Naspers is as dominant on the exchange as ever.</p><p><blockquote>如果原因不那么棘手的话,这种财务效率低下可能会带来一个机会。建立该投资组合的Naspers剥离了Prosus,以减少其在南非股市的权重,这为投资组合经理提供了出售其股票的持续技术理由。不到两年后,Naspers在交易所一如既往地占据主导地位。</blockquote></p><p> Prosus and Naspers have a new plan to address the problem, involving a cross-shareholding structure that will end in Prosus owning almost half of Naspers. The project received pushback from investors partly for its complexity, forcing the company to issue a public defense. Shareholders vote on the deal next month.</p><p><blockquote>Prosus和Naspers制定了一项新计划来解决这个问题,其中涉及交叉持股结构,最终Prosus将拥有Naspers近一半的股份。该项目遭到投资者的抵制,部分原因是其复杂性,迫使该公司发表公开辩护。股东将于下个月对该交易进行投票。</blockquote></p><p> Complexity may itself be one reason for the discount problem at Naspers and Prosus: Tying themselves in knots to answer one question just raises more. The only real resolution is a breakup, but the companies need their Tencent shares to fund bets on cash-draining industries like food delivery. They raised $14.6 billion by selling just 2% in April.</p><p><blockquote>复杂性本身可能就是Naspers和Prosus折扣问题的一个原因:为了回答一个问题而束缚自己只会引发更多问题。唯一真正的解决方案是分拆,但这些公司需要持有腾讯控股股票来为对食品配送等现金流失行业的押注提供资金。4月份,他们仅出售2%的股份就筹集了146亿美元。</blockquote></p><p> Naspers and Prosus have an attractive portfolio, but investors can’t expect the current strategy to deliver anything close to full value for it.</p><p><blockquote>Naspers和Prosus拥有有吸引力的投资组合,但投资者不能指望当前的策略能够为其带来任何接近全部价值的东西。</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>This Big Tech Stock Is Always on Sale<blockquote>这只大型科技股总是在打折</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\">\nThis Big Tech Stock Is Always on Sale<blockquote>这只大型科技股总是在打折</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-06-21 22:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p> Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—and the full extent of its discount problem <img src=\"https://static.tigerbbs.com/7190040397780616cd6d06eb9b8f423c\" tg-width=\"879\" tg-height=\"513\">Getting 50% off isn’t such an unmissable opportunity when there is no end to the discounting in sight.</p><p><blockquote>腾讯控股的主要股东Prosus透露了其390亿美元初创公司投资组合的价值以及其折扣问题的全部程度当折扣看不到尽头时,享受50%的折扣并不是一个不容错过的机会。</blockquote></p><p> Prosus is one of the most valuable tech companies listed in Europeby virtue of its big stakein Chinese internet giant Tencent, bought two decades ago for $34 million and now worth $216 billion, even after two share sales. The Amsterdam-based company also owns a portfolio of e-commerce startups that, like Tencent, have mainly thrived during the pandemic. Prosus revealed an estimate by Deloitte of their valuation for the first time Monday. According to the accounting firm, they are worth in aggregate $39 billion, up from roughly $20 billion a year ago.</p><p><blockquote>Prosus是欧洲上市的最有价值的科技公司之一,因为它持有中国互联网巨头腾讯控股的大量股份,20年前以3400万美元的价格收购了该公司,即使在两次股票出售后,该公司现在的价值仍为2160亿美元。这家总部位于阿姆斯特丹的公司还拥有一系列电子商务初创公司,这些公司与腾讯控股一样,主要在疫情期间蓬勃发展。Prosus周一首次披露了德勤对其估值的估计。据该会计师事务所称,他们的总价值为390亿美元,高于一年前的约200亿美元。</blockquote></p><p> The strong valuation is a double-edged sword. It suggests that Prosus’ operations are headed in the right direction, but it also lays painfully bare the gulf between their value and its stock price. If you add the $39 billion to $216 billion for the Tencent stake, roughly $1 billion for a similar minority stake in Russian internet company Mail.ru and almost $12 billion in net cash, you get an implied equity value of $268 billion for Prosus. Its market capitalization is just $162 billion—a discount of 39%.</p><p><blockquote>强劲的估值是一把双刃剑。这表明Prosus的运营正朝着正确的方向发展,但也痛苦地暴露了其价值与其股价之间的差距。如果你加上390亿至2160亿美元的腾讯控股股份、大约10亿美元的俄罗斯互联网公司Mail.ru类似少数股权以及近120亿美元的净现金,你会得到Prosus的隐含股权价值为2680亿美元。其市值仅为1620亿美元,折价39%。</blockquote></p><p> The gap widens further if you step further up the ownership chain. Prosus is majority-owned by South African holding companyNaspers,NPSNY-0.70%whose shares trade roughly 23% below the value of its Prosus stake. Overall, Naspers shareholders are getting less than half the value of the internet businesses and stakes owned by Prosus.</p><p><blockquote>如果你在所有权链上走得更远,差距会进一步扩大。Prosus的多数股权由南非控股公司Naspers(NPSNY-0.70%)持有,该公司的股价比其Prosus股份的价值低约23%。总体而言,Naspers股东获得的互联网业务和股份价值还不到Prosus拥有的一半。</blockquote></p><p> Such financial inefficiency might present an opportunity if the reasons weren’t so intractable. Naspers, which built the portfolio,spun Prosus offto reduce its own heavy weighting on the South African stock market, which gave portfolio managers an ongoing technical reason to sell its stock. Less than two years later, Naspers is as dominant on the exchange as ever.</p><p><blockquote>如果原因不那么棘手的话,这种财务效率低下可能会带来一个机会。建立该投资组合的Naspers剥离了Prosus,以减少其在南非股市的权重,这为投资组合经理提供了出售其股票的持续技术理由。不到两年后,Naspers在交易所一如既往地占据主导地位。</blockquote></p><p> Prosus and Naspers have a new plan to address the problem, involving a cross-shareholding structure that will end in Prosus owning almost half of Naspers. The project received pushback from investors partly for its complexity, forcing the company to issue a public defense. Shareholders vote on the deal next month.</p><p><blockquote>Prosus和Naspers制定了一项新计划来解决这个问题,其中涉及交叉持股结构,最终Prosus将拥有Naspers近一半的股份。该项目遭到投资者的抵制,部分原因是其复杂性,迫使该公司发表公开辩护。股东将于下个月对该交易进行投票。</blockquote></p><p> Complexity may itself be one reason for the discount problem at Naspers and Prosus: Tying themselves in knots to answer one question just raises more. The only real resolution is a breakup, but the companies need their Tencent shares to fund bets on cash-draining industries like food delivery. They raised $14.6 billion by selling just 2% in April.</p><p><blockquote>复杂性本身可能就是Naspers和Prosus折扣问题的一个原因:为了回答一个问题而束缚自己只会引发更多问题。唯一真正的解决方案是分拆,但这些公司需要持有腾讯控股股票来为对食品配送等现金流失行业的押注提供资金。4月份,他们仅出售2%的股份就筹集了146亿美元。</blockquote></p><p> Naspers and Prosus have an attractive portfolio, but investors can’t expect the current strategy to deliver anything close to full value for it.</p><p><blockquote>Naspers和Prosus拥有有吸引力的投资组合,但投资者不能指望当前的策略能够为其带来任何接近全部价值的东西。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.wsj.com/articles/this-big-tech-stock-is-always-on-sale-11624283672\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PROSF":"Prosus NV"},"source_url":"https://www.wsj.com/articles/this-big-tech-stock-is-always-on-sale-11624283672","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188659531","content_text":"Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—and the full extent of its discount problem\n\nGetting 50% off isn’t such an unmissable opportunity when there is no end to the discounting in sight.\nProsus is one of the most valuable tech companies listed in Europeby virtue of its big stakein Chinese internet giant Tencent, bought two decades ago for $34 million and now worth $216 billion, even after two share sales. The Amsterdam-based company also owns a portfolio of e-commerce startups that, like Tencent, have mainly thrived during the pandemic. Prosus revealed an estimate by Deloitte of their valuation for the first time Monday. According to the accounting firm, they are worth in aggregate $39 billion, up from roughly $20 billion a year ago.\nThe strong valuation is a double-edged sword. It suggests that Prosus’ operations are headed in the right direction, but it also lays painfully bare the gulf between their value and its stock price. If you add the $39 billion to $216 billion for the Tencent stake, roughly $1 billion for a similar minority stake in Russian internet company Mail.ru and almost $12 billion in net cash, you get an implied equity value of $268 billion for Prosus. Its market capitalization is just $162 billion—a discount of 39%.\nThe gap widens further if you step further up the ownership chain. Prosus is majority-owned by South African holding companyNaspers,NPSNY-0.70%whose shares trade roughly 23% below the value of its Prosus stake. Overall, Naspers shareholders are getting less than half the value of the internet businesses and stakes owned by Prosus.\nSuch financial inefficiency might present an opportunity if the reasons weren’t so intractable. Naspers, which built the portfolio,spun Prosus offto reduce its own heavy weighting on the South African stock market, which gave portfolio managers an ongoing technical reason to sell its stock. Less than two years later, Naspers is as dominant on the exchange as ever.\nProsus and Naspers have a new plan to address the problem, involving a cross-shareholding structure that will end in Prosus owning almost half of Naspers. The project received pushback from investors partly for its complexity, forcing the company to issue a public defense. Shareholders vote on the deal next month.\nComplexity may itself be one reason for the discount problem at Naspers and Prosus: Tying themselves in knots to answer one question just raises more. The only real resolution is a breakup, but the companies need their Tencent shares to fund bets on cash-draining industries like food delivery. They raised $14.6 billion by selling just 2% in April.\nNaspers and Prosus have an attractive portfolio, but investors can’t expect the current strategy to deliver anything close to full value for it.","news_type":1,"symbols_score_info":{"PROSF":0.9}},"isVote":1,"tweetType":1,"viewCount":2390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}