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- cloudyycloudyy
  ·2021-07-27
  Great
  Crypto Stocks tumbled in premarket trading
  Crypto Stocks tumbled in premarket trading on Amazon denimg report of accepting bitcoin as payment.B
  Crypto Stocks tumbled in premarket trading
  1,194 评论
  5
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- cloudyycloudyy
  ·2021-07-27
  Nice
  Hot Chinese concept stocks resumed downward in premarket trading
  Hot Chinese concept stocks resumed downward in premarket trading.Bilibili and NetEase fell 7%,DiDi G
  Hot Chinese concept stocks resumed downward in premarket trading
  1,660 评论
  1
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- cloudyycloudyy
  ·2021-07-13
  What
  非常抱歉，此主贴已删除
  2,282 2
  1
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- cloudyycloudyy
  ·2021-07-11
  Nice
  非常抱歉，此主贴已删除
  1,397 1
  2
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- cloudyycloudyy
  ·2021-07-10
  Interesting
  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?
  2,061 评论
  1
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- cloudyycloudyy
  ·2021-07-10
  Nice
  Meme Stocks Like GameStop and AMC Reflect Market Reality
  Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment
  Meme Stocks Like GameStop and AMC Reflect Market Reality
  1,174 评论
  4
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- cloudyycloudyy
  ·2021-07-05
  Nice
  What Does the End of the Quarter Mean for Portfolio Management?
  The "end of the quarter" refers to the conclusion of one of four specific three-month periods on the
  What Does the End of the Quarter Mean for Portfolio Management?
  1,408 3
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- cloudyycloudyy
  ·2021-07-03
  Nice
  非常抱歉，此主贴已删除
  1,499 评论
  4
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- cloudyycloudyy
  ·2021-06-30
  Nice
  EV stocks surged in Wednesday morning trading
  EV stocks surged in Wednesday morning trading.Nio, Li Auto and Tesla climbed between 0.7% and 5.6%. While Xpeng Motors fell 0.7%.
  EV stocks surged in Wednesday morning trading
  1,583 评论
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Rival coins including Ether and Litecoin also retreated.</p>\n<p>Bitcoin’s latest roller-coaster ride accelerated Monday as traders digested an Amazon executive&nbsp;job posting&nbsp;linked to crypto, sending prices soaring. The rally quickly ran out of steam hours later, after a company spokesperson denied the token will be accepted for payments this year.</p>\n<p>Investors rushing to cover bearish bets helped propel Bitcoin’s earlier advance to a peak of $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data&nbsp;from Bybt.com.</p>\n<p>“Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,” said Vijay Ayyar, head of crypto exchange Luno’s Asia Pacific business. “But then there was heavy accumulation in the $29,000 to $30,000 region, which caught a lot of those shorts unaware and hence led to the spring upwards.”</p>\n<p>Bitcoin’s price volatility is part of a wider, multi-wave correction since a record high was reached in April, Ayyar said. The price could rebound as high as $45,000 in the near term before another potential drop, he said.</p>\n<p>“We’re still seeing the correction play out,” he added.</p>\n<p>The latest gyrations came amid concerns about a chill in the crypto industry after Bitcoin’s hot run to a record of almost $65,000 &nbsp;faded amid rising regulatory and environmental concerns. There are plenty of factors traders can point to for this week’s moves, as proponents look for the next catalyst to break the coin out of its tight trading range of $30,000 to $40,000 in recent months.</p>\n<p>“Bitcoin‘s biggest risk this week could be a hawkish surprise from the Fed, which might explain why prices have not yet been able to clear the psychological $40,000 level,” said Edward Moya, senior market analyst with Oanda Corp. The Federal Reserve will announce its next rate decision Wednesday.</p>\n<p>Bloomberg News earlier&nbsp;reported a U.S. probe&nbsp;into Tether is homing in on whether executives behind the token committed bank fraud.</p>\n<p><img src=\"https://static.tigerbbs.com/a9b821fcdf8396e5d3fdc1f9e3ead006\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Ether was down as much as 5%, reversing Monday’s earlier advance ahead of an&nbsp;upgrade&nbsp;due on Aug. 4 that will reduce the amount of outstanding tokens by destroying some of them every time it’s used to fuel transactions on the world’s most-used blockchain.</p>\n<p>On Binance, the largest crypto exchange, Bitcoin perpetual contracts jumped as much as 30% over an hour in early New York trading, a sign of extreme volatility in one of the coin’s most liquid derivatives.</p>\n<p>Sentiment also got a bit of a boost last week after Tesla Inc.’s Elon Musk said his firm was likely to eventually&nbsp;accept&nbsp;Bitcoin again and that his space exploration company SpaceX owns the digital token. Bitcoin bounced back above the 50-day moving average for the first time since May on the weekend.</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>Crypto Stocks tumbled in premarket trading</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\">\nCrypto Stocks tumbled in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-27 16:21</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Crypto Stocks tumbled in premarket trading&nbsp;on&nbsp;Amazon denimg report of accepting bitcoin as payment.Bit Digital,The9,SOS Ltd,Canaan,Ebang&nbsp;international,Marathon Digital Holdings,Riot Blockchain,Coinbase Global&nbsp;and&nbsp;Square&nbsp;plunged between 1% and 19%.</p>\n<p><img src=\"https://static.tigerbbs.com/e53c1ef7ac57d4219f6590506a3f3800\" tg-width=\"352\" tg-height=\"546\" width=\"100%\" height=\"auto\"></p>\n<p>Bitcoin fell after briefly rallying past $40,000, as&nbsp;Amazon.com Inc.&nbsp;pushed back against speculation it will accept the token for payments this year, offering investors another reminder of the coin’s volatility.</p>\n<p>The largest digital currency dropped as much as 3.5% and was trading at about $37,100 as of 1:44 p.m. in Hong Kong, extending a late reversal in U.S. trading. Rival coins including Ether and Litecoin also retreated.</p>\n<p>Bitcoin’s latest roller-coaster ride accelerated Monday as traders digested an Amazon executive&nbsp;job posting&nbsp;linked to crypto, sending prices soaring. The rally quickly ran out of steam hours later, after a company spokesperson denied the token will be accepted for payments this year.</p>\n<p>Investors rushing to cover bearish bets helped propel Bitcoin’s earlier advance to a peak of $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data&nbsp;from Bybt.com.</p>\n<p>“Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,” said Vijay Ayyar, head of crypto exchange Luno’s Asia Pacific business. “But then there was heavy accumulation in the $29,000 to $30,000 region, which caught a lot of those shorts unaware and hence led to the spring upwards.”</p>\n<p>Bitcoin’s price volatility is part of a wider, multi-wave correction since a record high was reached in April, Ayyar said. The price could rebound as high as $45,000 in the near term before another potential drop, he said.</p>\n<p>“We’re still seeing the correction play out,” he added.</p>\n<p>The latest gyrations came amid concerns about a chill in the crypto industry after Bitcoin’s hot run to a record of almost $65,000 &nbsp;faded amid rising regulatory and environmental concerns. There are plenty of factors traders can point to for this week’s moves, as proponents look for the next catalyst to break the coin out of its tight trading range of $30,000 to $40,000 in recent months.</p>\n<p>“Bitcoin‘s biggest risk this week could be a hawkish surprise from the Fed, which might explain why prices have not yet been able to clear the psychological $40,000 level,” said Edward Moya, senior market analyst with Oanda Corp. The Federal Reserve will announce its next rate decision Wednesday.</p>\n<p>Bloomberg News earlier&nbsp;reported a U.S. probe&nbsp;into Tether is homing in on whether executives behind the token committed bank fraud.</p>\n<p><img src=\"https://static.tigerbbs.com/a9b821fcdf8396e5d3fdc1f9e3ead006\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Ether was down as much as 5%, reversing Monday’s earlier advance ahead of an&nbsp;upgrade&nbsp;due on Aug. 4 that will reduce the amount of outstanding tokens by destroying some of them every time it’s used to fuel transactions on the world’s most-used blockchain.</p>\n<p>On Binance, the largest crypto exchange, Bitcoin perpetual contracts jumped as much as 30% over an hour in early New York trading, a sign of extreme volatility in one of the coin’s most liquid derivatives.</p>\n<p>Sentiment also got a bit of a boost last week after Tesla Inc.’s Elon Musk said his firm was likely to eventually&nbsp;accept&nbsp;Bitcoin again and that his space exploration company SpaceX owns the digital token. Bitcoin bounced back above the 50-day moving average for the first time since May on the weekend.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIOT":"Riot Platforms","NCTY":"第九城市","COIN":"Coinbase Global, Inc.","BTBT":"Bit Digital, Inc.","MARA":"MARA Holdings","SOS":"SOS Limited","EBON":"亿邦国际","CAN":"嘉楠科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140105060","content_text":"Crypto Stocks tumbled in premarket trading on Amazon denimg report of accepting bitcoin as payment.Bit Digital,The9,SOS Ltd,Canaan,Ebang international,Marathon Digital Holdings,Riot Blockchain,Coinbase Global and Square plunged between 1% and 19%.\n\nBitcoin fell after briefly rallying past $40,000, as Amazon.com Inc. pushed back against speculation it will accept the token for payments this year, offering investors another reminder of the coin’s volatility.\nThe largest digital currency dropped as much as 3.5% and was trading at about $37,100 as of 1:44 p.m. in Hong Kong, extending a late reversal in U.S. trading. Rival coins including Ether and Litecoin also retreated.\nBitcoin’s latest roller-coaster ride accelerated Monday as traders digested an Amazon executive job posting linked to crypto, sending prices soaring. The rally quickly ran out of steam hours later, after a company spokesperson denied the token will be accepted for payments this year.\nInvestors rushing to cover bearish bets helped propel Bitcoin’s earlier advance to a peak of $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data from Bybt.com.\n“Shorts were piling up as we were moving down, assuming we were looking at a minimum of $25,000, which was expected across the board,” said Vijay Ayyar, head of crypto exchange Luno’s Asia Pacific business. “But then there was heavy accumulation in the $29,000 to $30,000 region, which caught a lot of those shorts unaware and hence led to the spring upwards.”\nBitcoin’s price volatility is part of a wider, multi-wave correction since a record high was reached in April, Ayyar said. The price could rebound as high as $45,000 in the near term before another potential drop, he said.\n“We’re still seeing the correction play out,” he added.\nThe latest gyrations came amid concerns about a chill in the crypto industry after Bitcoin’s hot run to a record of almost $65,000  faded amid rising regulatory and environmental concerns. There are plenty of factors traders can point to for this week’s moves, as proponents look for the next catalyst to break the coin out of its tight trading range of $30,000 to $40,000 in recent months.\n“Bitcoin‘s biggest risk this week could be a hawkish surprise from the Fed, which might explain why prices have not yet been able to clear the psychological $40,000 level,” said Edward Moya, senior market analyst with Oanda Corp. The Federal Reserve will announce its next rate decision Wednesday.\nBloomberg News earlier reported a U.S. probe into Tether is homing in on whether executives behind the token committed bank fraud.\n\nEther was down as much as 5%, reversing Monday’s earlier advance ahead of an upgrade due on Aug. 4 that will reduce the amount of outstanding tokens by destroying some of them every time it’s used to fuel transactions on the world’s most-used blockchain.\nOn Binance, the largest crypto exchange, Bitcoin perpetual contracts jumped as much as 30% over an hour in early New York trading, a sign of extreme volatility in one of the coin’s most liquid derivatives.\nSentiment also got a bit of a boost last week after Tesla Inc.’s Elon Musk said his firm was likely to eventually accept Bitcoin again and that his space exploration company SpaceX owns the digital token. Bitcoin bounced back above the 50-day moving average for the first time since May on the weekend.","news_type":1,"symbols_score_info":{"BTBT":0.9,"CAN":0.9,"COIN":0.9,"EBON":0.9,"MARA":0.9,"NCTY":0.9,"RIOT":0.9,"SOS":0.9,"SQ":0.9}},"isVote":1,"tweetType":1,"viewCount":1194,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809248943,"gmtCreate":1627374689882,"gmtModify":1631890282607,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809248943","repostId":"1142907091","repostType":4,"repost":{"id":"1142907091","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627373467,"share":"https://www.laohu8.com/m/news/1142907091?lang=&edition=full","pubTime":"2021-07-27 16:11","market":"us","language":"en","title":"Hot Chinese concept stocks resumed downward in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1142907091","media":"Tiger Newspress","summary":"Hot Chinese concept stocks resumed downward in premarket trading.Bilibili and NetEase fell 7%,DiDi G","content":"<p>Hot Chinese concept stocks resumed downward&nbsp;in premarket trading.Bilibili&nbsp;and&nbsp;NetEase&nbsp;fell&nbsp;7%,DiDi Global,JD.com&nbsp;and&nbsp;Pinduoduo&nbsp;fell&nbsp;6%,Baidu&nbsp;fell&nbsp;5%,Xpeng Motors&nbsp;fell&nbsp;4%,Alibaba,Nio&nbsp;and Li Auto&nbsp;fell&nbsp;3%.</p>\n<p><img src=\"https://static.tigerbbs.com/6d3f423af5595483b1ce34aa42d60cc7\" tg-width=\"355\" tg-height=\"602\" referrerpolicy=\"no-referrer\"></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>Hot Chinese concept stocks resumed downward in premarket trading</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nHot Chinese concept stocks resumed downward in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-27 16:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Hot Chinese concept stocks resumed downward&nbsp;in premarket trading.Bilibili&nbsp;and&nbsp;NetEase&nbsp;fell&nbsp;7%,DiDi Global,JD.com&nbsp;and&nbsp;Pinduoduo&nbsp;fell&nbsp;6%,Baidu&nbsp;fell&nbsp;5%,Xpeng Motors&nbsp;fell&nbsp;4%,Alibaba,Nio&nbsp;and Li Auto&nbsp;fell&nbsp;3%.</p>\n<p><img src=\"https://static.tigerbbs.com/6d3f423af5595483b1ce34aa42d60cc7\" tg-width=\"355\" tg-height=\"602\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多","BIDU":"百度","JD":"京东","NIO":"蔚来","LI":"理想汽车","XPEV":"小鹏汽车","BABA":"阿里巴巴","DIDI":"滴滴(已退市)"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142907091","content_text":"Hot Chinese concept stocks resumed downward in premarket trading.Bilibili and NetEase fell 7%,DiDi Global,JD.com and Pinduoduo fell 6%,Baidu fell 5%,Xpeng Motors fell 4%,Alibaba,Nio and Li Auto fell 3%.","news_type":1,"symbols_score_info":{"BABA":0.9,"BIDU":0.9,"DIDI":0.9,"JD":0.9,"LI":0.9,"NIO":0.9,"PDD":0.9,"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":1660,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142758872,"gmtCreate":1626179586396,"gmtModify":1631890282608,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"What","listText":"What","text":"What","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142758872","repostId":"2151276565","repostType":4,"isVote":1,"tweetType":1,"viewCount":2282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148671693,"gmtCreate":1625974810612,"gmtModify":1631890282610,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148671693","repostId":"1135090843","repostType":4,"isVote":1,"tweetType":1,"viewCount":1397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141552350,"gmtCreate":1625882115070,"gmtModify":1631890282613,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141552350","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 &lt;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 &lt;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 &lt;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&amp;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&nbsp;fab in Arizona&nbsp;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 &lt;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&nbsp;&nbsp;&nbsp;<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":{"UMC":"联电","TSM":"台积电"},"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":2061,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141558400,"gmtCreate":1625882061600,"gmtModify":1631890282617,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141558400","repostId":"1173374462","repostType":4,"repost":{"id":"1173374462","kind":"news","pubTimestamp":1625840008,"share":"https://www.laohu8.com/m/news/1173374462?lang=&edition=full","pubTime":"2021-07-09 22:13","market":"us","language":"en","title":"Meme Stocks Like GameStop and AMC Reflect Market Reality","url":"https://stock-news.laohu8.com/highlight/detail?id=1173374462","media":"Thestreet","summary":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment","content":"<p>Gamestop&nbsp;(<b>GME</b>)&nbsp;made some investors rich… and then it broke many more. Investing in AMC Entertainment&nbsp;(<b>AMC</b>)&nbsp;did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.</p>\n<p>How?</p>\n<p>It’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?</p>\n<p>Have you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?</p>\n<p>\"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.</p>\n<p>\"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.</p>\n<p>\"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"</p>\n<p>Collins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"</p>\n<p>Assets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.</p>\n<p>That’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.</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>Meme Stocks Like GameStop and AMC Reflect Market Reality</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\">\nMeme Stocks Like GameStop and AMC Reflect Market Reality\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 22:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality><strong>Thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment (AMC) did the exact same thing. These two stocks represent, if not failing businesses, at least ...</p>\n\n<a href=\"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","AMC":"AMC院线"},"source_url":"https://www.thestreet.com/investing/meme-stocks-like-gamestop-amc-reflect-market-reality","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173374462","content_text":"Gamestop (GME) made some investors rich… and then it broke many more. Investing in AMC Entertainment (AMC) did the exact same thing. These two stocks represent, if not failing businesses, at least ailing ones; companies that struggled to keep up with the new economy even before the pandemic shut down large swaths of it. Yet over the past few months they have posted some of the most volatile gains and losses on the market.\nHow?\nIt’s down to what Real Money's Timothy Collins calls the market of “meme stock hyperbole.” But, he writes, is it really all that different from how trading has always worked?\nHave you ever really thought about the phrases 'to the moon' or 'conviction buy,' and how they mess with out perception of fair value?\n\"Initially, I rolled my eyes at the continued use of the phrase 'To The Moon,'\" Collins says. \"It's not like 'Strong Buy with a price target of $65', for instance. 'To the moon' is completely arbitrary and open to interpretation, but then again so are most things about valuation, when you think about it,\" Collins wrote.\n\"For instance, when an analyst pounds the table on a stock, how is that different from 'to the moon?' Or when someone says, 'all in.' Are they really all in? Did they cash in all their assets, pool the liquidity, and buy every share they possibly could? Probably not. Actually, I'd say definitely not 99.9999% of the time. Of course, there's always that one person,\" Collins said.\n\"But the point isWall Street has been arbitraryfor years. We can't even have a standard rating system. Is it 'Neutral' or 'Hold?' And really, do I want to hold something that is only in the middle of your range? No.\"\nCollins writes, \"The system should be 'buy' or 'sell.' That's it. Black or white. Own or don't own.\"\nAssets like GameStop and even cryptocurrency seem to be selling on nothing more than pure emotion. Investors are taking these products for a joy ride, and that tends to send prices flying up and down the ladder.\nThat’s confusing, to be sure. Just, before you go throwing your hands in the air, it’s important to remember that the stock market has always been at least a little bit arbitrary.","news_type":1,"symbols_score_info":{"AMC":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":1174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154121414,"gmtCreate":1625491056738,"gmtModify":1631890282618,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/154121414","repostId":"1155435134","repostType":4,"repost":{"id":"1155435134","kind":"news","pubTimestamp":1625483300,"share":"https://www.laohu8.com/m/news/1155435134?lang=&edition=full","pubTime":"2021-07-05 19:08","market":"sh","language":"en","title":"What Does the End of the Quarter Mean for Portfolio Management?","url":"https://stock-news.laohu8.com/highlight/detail?id=1155435134","media":"investopedia","summary":"The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the","content":"<p>The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the financial calendar. Thefour quartersend in March, or Q1; June, or Q2; September, or Q3; and December, or Q4. These are considered important times for investors. Many businesses, analysts, government agencies, and theFederal Reserverelease critical new data about various markets or economic indicators at the end of a quarter.</p>\n<p>There's a widely held belief in financial circles that hedge funds, pension funds, and insurance companies always rebalance their portfolios at the end of each quarter. While no proof or evidence has ever been put forward to confirm this practice or its prevalence, the very idea reinforces the concept that the end of a quarter is significant.</p>\n<p>Even if major financial players do not always rebalance at the end of quarters, many investors use this time to re-evaluate their ownportfolio management, changing which assets comprise the portfolio or setting new portfolio targets. Not only is it a good idea for investors to monitor their investments from time-to-time but rarely is so much new, actionable information released as during the end of a quarter.</p>\n<p>Rebalancing a Portfolio</p>\n<p>Rebalancinginvolves the periodic sale and purchase of assets within a portfolio to maintain a target ratio.2Consider an investor who wants his portfolio to be comprised of 50% growth stocks, 25% income stocks, and 25% bonds. If during Q1, the growth stocks outperform the other investments substantially, the investor may decide to sell some growth stocks or purchase more income stocks and bonds to bring the portfolio back to a 50-25-25 split.</p>\n<p>KEY TAKEAWAYS</p>\n<ul>\n <li>The end of the three-month period known as a financial quarter is considered an important time for investors.</li>\n <li>Companies, financial analysts, and government agencies (including the Fed) all release reports and critical data at the end of a quarter.</li>\n <li>Both retail and institutional investors often use the end of a quarter to re-evaluate and rebalance their portfolios.</li>\n</ul>\n<p>Traditional rebalancing involves trading the gains of well-performing assets, by selling high, for more low-performing assets, by buying low, at the end of each quarter. Theoretically, this serves to protect a portfolio from being too exposed or straying too far from its original strategy. However, pegging rebalances to the end of quarters relies on arbitrary calendar events which may not coincide with market movements. Nevertheless, the confluence of new reports that emerge at the end of quarters usually causes market reactions and should be of concern to most participants.</p>\n<p>Institutional Investors and Rebalancing</p>\n<p>It is not just individual investors who consider making portfolio moves at the end of quarters. Portfolio management is also important for institutional investors, like mutual funds and exchange-traded funds, or ETFs.3</p>\n<p>There are two forms of fund portfolio management: active and passive.4Passive funds generally peg their portfolios to market indexes and involve fewer changes in exchange for lower management fees. The end of a quarter is less significant for these types of funds, though if theirbenchmark indexeschange at this time, they will as well.</p>\n<p>Active funds have a manager or team of managers who take a more proactive approach to beat market average returns. These funds can be quite active during the end of quarters, especially if their portfolios need to be adjusted to meet their previously stated goals and strategies.</p>","source":"lsy1606203311635","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>What Does the End of the Quarter Mean for Portfolio Management?</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\">\nWhat Does the End of the Quarter Mean for Portfolio Management?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-05 19:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investopedia.com/ask/answers/122214/what-does-end-quarter-mean-portfolio-management.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral><strong>investopedia</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the financial calendar. Thefour quartersend in March, or Q1; June, or Q2; September, or Q3; and ...</p>\n\n<a href=\"https://www.investopedia.com/ask/answers/122214/what-does-end-quarter-mean-portfolio-management.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investopedia.com/ask/answers/122214/what-does-end-quarter-mean-portfolio-management.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155435134","content_text":"The \"end of the quarter\" refers to the conclusion of one of four specific three-month periods on the financial calendar. Thefour quartersend in March, or Q1; June, or Q2; September, or Q3; and December, or Q4. These are considered important times for investors. Many businesses, analysts, government agencies, and theFederal Reserverelease critical new data about various markets or economic indicators at the end of a quarter.\nThere's a widely held belief in financial circles that hedge funds, pension funds, and insurance companies always rebalance their portfolios at the end of each quarter. While no proof or evidence has ever been put forward to confirm this practice or its prevalence, the very idea reinforces the concept that the end of a quarter is significant.\nEven if major financial players do not always rebalance at the end of quarters, many investors use this time to re-evaluate their ownportfolio management, changing which assets comprise the portfolio or setting new portfolio targets. Not only is it a good idea for investors to monitor their investments from time-to-time but rarely is so much new, actionable information released as during the end of a quarter.\nRebalancing a Portfolio\nRebalancinginvolves the periodic sale and purchase of assets within a portfolio to maintain a target ratio.2Consider an investor who wants his portfolio to be comprised of 50% growth stocks, 25% income stocks, and 25% bonds. If during Q1, the growth stocks outperform the other investments substantially, the investor may decide to sell some growth stocks or purchase more income stocks and bonds to bring the portfolio back to a 50-25-25 split.\nKEY TAKEAWAYS\n\nThe end of the three-month period known as a financial quarter is considered an important time for investors.\nCompanies, financial analysts, and government agencies (including the Fed) all release reports and critical data at the end of a quarter.\nBoth retail and institutional investors often use the end of a quarter to re-evaluate and rebalance their portfolios.\n\nTraditional rebalancing involves trading the gains of well-performing assets, by selling high, for more low-performing assets, by buying low, at the end of each quarter. Theoretically, this serves to protect a portfolio from being too exposed or straying too far from its original strategy. However, pegging rebalances to the end of quarters relies on arbitrary calendar events which may not coincide with market movements. Nevertheless, the confluence of new reports that emerge at the end of quarters usually causes market reactions and should be of concern to most participants.\nInstitutional Investors and Rebalancing\nIt is not just individual investors who consider making portfolio moves at the end of quarters. Portfolio management is also important for institutional investors, like mutual funds and exchange-traded funds, or ETFs.3\nThere are two forms of fund portfolio management: active and passive.4Passive funds generally peg their portfolios to market indexes and involve fewer changes in exchange for lower management fees. The end of a quarter is less significant for these types of funds, though if theirbenchmark indexeschange at this time, they will as well.\nActive funds have a manager or team of managers who take a more proactive approach to beat market average returns. These funds can be quite active during the end of quarters, especially if their portfolios need to be adjusted to meet their previously stated goals and strategies.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152338274,"gmtCreate":1625269397098,"gmtModify":1631890282624,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/152338274","repostId":"1165340887","repostType":4,"isVote":1,"tweetType":1,"viewCount":1499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151384167,"gmtCreate":1625064058959,"gmtModify":1631890282626,"author":{"id":"4087700265223580","authorId":"4087700265223580","name":"cloudyy","avatar":"https://static.tigerbbs.com/04b26a8e8aa7c3035df84275ad86ec81","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087700265223580","authorIdStr":"4087700265223580"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151384167","repostId":"1155548924","repostType":4,"repost":{"id":"1155548924","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625063251,"share":"https://www.laohu8.com/m/news/1155548924?lang=&edition=full","pubTime":"2021-06-30 22:27","market":"us","language":"en","title":"EV stocks surged in Wednesday morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1155548924","media":"Tiger Newspress","summary":"EV stocks surged in Wednesday morning trading.Nio, Li Auto&nbsp;and Tesla&nbsp;climbed between 0.7% and 5.6%.&nbsp;While&nbsp;Xpeng Motors&nbsp;fell&nbsp;0.7%.","content":"<p>EV stocks surged in Wednesday morning trading.Nio, Li Auto&nbsp;and Tesla&nbsp;climbed between 0.7% and 5.6%.&nbsp;While&nbsp;Xpeng Motors&nbsp;fell&nbsp;0.7%.</p>\n<p><img src=\"https://static.tigerbbs.com/5b3cdf9487d32d5f8f934cea51ae1ab2\" tg-width=\"375\" tg-height=\"352\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EV stocks surged in Wednesday morning trading</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\">\nEV stocks surged in Wednesday morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-30 22:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>EV stocks surged in Wednesday morning trading.Nio, Li Auto&nbsp;and Tesla&nbsp;climbed between 0.7% and 5.6%.&nbsp;While&nbsp;Xpeng Motors&nbsp;fell&nbsp;0.7%.</p>\n<p><img src=\"https://static.tigerbbs.com/5b3cdf9487d32d5f8f934cea51ae1ab2\" tg-width=\"375\" tg-height=\"352\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车","NIO":"蔚来","TSLA":"特斯拉","XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155548924","content_text":"EV stocks surged in Wednesday morning trading.Nio, Li Auto and Tesla climbed between 0.7% and 5.6%. While Xpeng Motors fell 0.7%.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":1583,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}