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yourself
yourself
·
2021-09-19
So I can do it was a lot of people who are sharing connections ideas and opportunities to the arts
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yourself
yourself
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2021-09-14
$Ceragon Networks(CRNT)$
hhhu me know if there is a good day
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yourself
yourself
·
2021-09-08
Using mm 😀😀😀😀 the arts in English and cheese and the call just now and cheese and wine
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yourself
yourself
·
2021-09-02
Playback is it a bit iuyyy in my head
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yourself
yourself
·
2021-09-01
Nice 😊👍🏻 the arts the arts in English
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yourself
yourself
·
2021-08-31
Nice 👍🏻👍🏻👍🏻👍🏻
XpresSpa Group Announces Board Authorization for Stock Repurchase Program<blockquote>XpresSpa 集团宣布董事会批准股票回购计划</blockquote>
Up to 15 Million Shares of Outstanding Common Stock May Be Repurchased NEW YORK, Aug. 31, 2021 (GLOB
XpresSpa Group Announces Board Authorization for Stock Repurchase Program<blockquote>XpresSpa 集团宣布董事会批准股票回购计划</blockquote>
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yourself
yourself
·
2021-08-28
High quality of people who are
🚀【8月27日】美股连涨势头终结?!今天有什么操作?
@Buy_Sell:
聊聊今日份的交易想法,包括对于大盘走势后续的看法?看涨/看跌哪只股票、晒晒单等等。 港股市场 8月27日,港股三大指数集体低开,恒指跌0.31%报25337点,国指跌0.17%报8922点,恒生科技指数跌0.01%报6336点。 盘面上,燃气股、乳业股、餐饮股、医药股、烟草概念股、纸业股普遍上涨,蒙牛乳业涨2.65%;大型科网股涨跌不一,$百度集团-SW(09888)$ 高开1.34%,$京东集团-SW(09618)$ 、$快手-W(01024)$ 小幅上涨,$阿里巴巴-SW(09988)$ 、$腾讯控股(00700)$ 低开;物管股、体育用品股、光伏股、教育股普跌。 $中国平安(02318)$ 高开1.05%,2021年上半年,公司实现归属于母公司股东的营运利润818.36亿元,同比增长10.1%;年化营运ROE达21.0%;归属于母公司股东的净利润580.05亿元,同比下降15.5%。中国平安发布公告称,公司拟使用不低于50亿元且不超过100亿元的自有资金,以不超过82.56元/股的价格回购A股。
🚀【8月27日】美股连涨势头终结?!今天有什么操作?
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yourself
yourself
·
2021-08-23
East coast park and to the arts in English
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yourself
yourself
·
2021-08-21
Dear user local I think it's the arts
Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</blockquote>
The iShares Semiconductor ETF is down over 6% from recent highs. ISTOCKPHOTO In the rolling correcti
Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</blockquote>
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yourself
yourself
·
2021-08-16
Ok sure if you have any questions or concerns please visit the entrance to the arts in English literature
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👍🏻👍🏻👍🏻👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/818227830","repostId":"2163450854","repostType":4,"repost":{"id":"2163450854","kind":"highlight","weMediaInfo":{"introduction":"Share your news with media, investors, and consumers with targeted distribution options from one of the world’s largest and most trusted newswires.","home_visible":1,"media_name":"GlobeNewswire","id":"1016364462","head_image":"https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a"},"pubTimestamp":1630413300,"share":"https://www.laohunote.com/m/news/2163450854?lang=zh_CN&edition=full","pubTime":"2021-08-31 20:35","market":"us","language":"en","title":"XpresSpa Group Announces Board Authorization for Stock Repurchase Program<blockquote>XpresSpa 集团宣布董事会批准股票回购计划</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2163450854","media":"GlobeNewswire","summary":"Up to 15 Million Shares of Outstanding Common Stock May Be Repurchased\nNEW YORK, Aug. 31, 2021 (GLOB","content":"<p><i>Up to 15 Million Shares of Outstanding Common Stock May Be Repurchased</i></p><p><blockquote><i>最多可回购 1,500 万股已发行普通股</i></blockquote></p><p> NEW YORK, Aug. 31, 2021 (GLOBE NEWSWIRE) -- <a href=\"https://laohu8.com/S/XSPA\">XpresSpa Group</a>, Inc. (Nasdaq: XSPA), a travel health and wellness company, today announced that its Board of Directors has authorized a stock repurchase program for up to 15,000,000 shares of its outstanding common stock.</p><p><blockquote>纽约,2021 年 8 月 31 日(环球通讯社)--<a href=\"https://laohu8.com/S/XSPA\">XpresSpa集团</a>, Inc.(纳斯达克股票代码:XSPA)是一家旅游健康和保健公司,今天宣布其董事会已授权一项股票回购计划,购买最多 15,000,000 股已发行普通股。</blockquote></p><p> \"Our XpresCheck™ COVID-19 testing business continues to grow and perform well. In July, increased testing volumes and improved mix of higher margin rapid tests resulted in higher overall practice fees than in June. Additionally, these activities exclude any testing related to our new CDC relationship or from our El Al Airlines pilot program. We believe launching a stock buyback program reflects our confidence in the long-term prospects of the business and the undervalued price of our stock,\" said Bruce Bernstein, Chairman of the Board of XpresSpa Group, Inc. “Consistent with our business philosophy, we will continue to evaluate investment opportunities in the business against buying back shares.\"</p><p><blockquote>“我们的 XpresCheck™新冠肺炎测试业务持续增长,表现良好。7月份,测试量的增加和高利润快速测试组合的改善导致整体实践费用高于6月份。此外,这些活动不包括与我们新的CDC关系或我们的El Al航空公司试点计划相关的任何测试。XpresSpa Group, Inc. 董事会主席布鲁斯-伯恩斯坦(Bruce Bernstein)表示:“我们相信,启动股票回购计划反映了我们对业务长期前景和被低估的股票价格的信心。根据我们的经营理念,我们将继续评估业务中的投资机会,而不是回购股票。”</blockquote></p><p> The shares may be repurchased on the open market, in privately negotiated transactions, or otherwise in accordance with applicable federal securities laws. The specific timing and amount of future repurchases will be determined by market conditions, cash flow requirements, securities law limitations, and other factors. Repurchases may continue from time to time, as conditions permit, until the number of shares authorized to be repurchased have been acquired, or until the authorization to repurchase is terminated or expires, whichever occurs first.</p><p><blockquote>股份可以在公开市场、私下协商交易或根据适用的联邦证券法以其他方式回购。未来回购的具体时间和金额将由市场状况、现金流要求、证券法限制等因素决定。在条件许可的情况下,购回可不时继续进行,直至获得授权购回的股份数目,或直至购回授权终止或届满(以较早者为准)为止。</blockquote></p><p> The share repurchase authorization will be used at management’s discretion and will expire on September 15, 2022, unless further extended by the Board of Directors. The repurchase program may also be suspended, modified, or discontinued at any time.</p><p><blockquote>除非董事会进一步延长,否则股份购回授权将由管理层酌情使用,并将于 2022 年 9 月 15 日到期。回购计划也可能随时暂停、修改或终止。</blockquote></p><p> <b><u>About XpresSpa Group, Inc. </u></b></p><p><blockquote><b><u>关于XpresSpa集团公司。</u></b></blockquote></p><p> XpresSpa Group, Inc. (Nasdaq: XSPA) is a leading global health and wellness holding company operating three distinct brands: Treat™, XpresCheck™, and XpresSpa™. Treat is a travel health and wellness brand that will be providing on-demand access to healthcare through technology and personalized services. XpresCheck is a leading on-site airport provider of COVID-19 screening and testing with 13 locations in 11 domestic airports. XpresSpa is a leading airport retailer of spa services and related health and wellness products, with 43 locations in 21 airports globally.</p><p><blockquote>XpresSpa Group, Inc.(纳斯达克股票代码:XSPA)是一家全球领先的健康和保健控股公司,经营三个不同的品牌:Treat™, XpresCheck™和XpresSpa。™Treat是一个旅游健康和保健品牌,将通过技术和个性化服务提供按需医疗保健服务。XpresCheck是领先的新冠肺炎现场筛查和测试机场提供商,在11个国内机场设有13个地点。XpresSpa是一家领先的机场水疗服务和相关健康和保健产品零售商,在全球21个机场设有43家分店。</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>XpresSpa Group Announces Board Authorization for Stock Repurchase Program<blockquote>XpresSpa 集团宣布董事会批准股票回购计划</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\">\nXpresSpa Group Announces Board Authorization for Stock Repurchase Program<blockquote>XpresSpa 集团宣布董事会批准股票回购计划</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1016364462\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">GlobeNewswire </p>\n<p class=\"h-time smaller\">2021-08-31 20:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><i>Up to 15 Million Shares of Outstanding Common Stock May Be Repurchased</i></p><p><blockquote><i>最多可回购 1,500 万股已发行普通股</i></blockquote></p><p> NEW YORK, Aug. 31, 2021 (GLOBE NEWSWIRE) -- <a href=\"https://laohu8.com/S/XSPA\">XpresSpa Group</a>, Inc. (Nasdaq: XSPA), a travel health and wellness company, today announced that its Board of Directors has authorized a stock repurchase program for up to 15,000,000 shares of its outstanding common stock.</p><p><blockquote>纽约,2021 年 8 月 31 日(环球通讯社)--<a href=\"https://laohu8.com/S/XSPA\">XpresSpa集团</a>, Inc.(纳斯达克股票代码:XSPA)是一家旅游健康和保健公司,今天宣布其董事会已授权一项股票回购计划,购买最多 15,000,000 股已发行普通股。</blockquote></p><p> \"Our XpresCheck™ COVID-19 testing business continues to grow and perform well. In July, increased testing volumes and improved mix of higher margin rapid tests resulted in higher overall practice fees than in June. Additionally, these activities exclude any testing related to our new CDC relationship or from our El Al Airlines pilot program. We believe launching a stock buyback program reflects our confidence in the long-term prospects of the business and the undervalued price of our stock,\" said Bruce Bernstein, Chairman of the Board of XpresSpa Group, Inc. “Consistent with our business philosophy, we will continue to evaluate investment opportunities in the business against buying back shares.\"</p><p><blockquote>“我们的 XpresCheck™新冠肺炎测试业务持续增长,表现良好。7月份,测试量的增加和高利润快速测试组合的改善导致整体实践费用高于6月份。此外,这些活动不包括与我们新的CDC关系或我们的El Al航空公司试点计划相关的任何测试。XpresSpa Group, Inc. 董事会主席布鲁斯-伯恩斯坦(Bruce Bernstein)表示:“我们相信,启动股票回购计划反映了我们对业务长期前景和被低估的股票价格的信心。根据我们的经营理念,我们将继续评估业务中的投资机会,而不是回购股票。”</blockquote></p><p> The shares may be repurchased on the open market, in privately negotiated transactions, or otherwise in accordance with applicable federal securities laws. The specific timing and amount of future repurchases will be determined by market conditions, cash flow requirements, securities law limitations, and other factors. Repurchases may continue from time to time, as conditions permit, until the number of shares authorized to be repurchased have been acquired, or until the authorization to repurchase is terminated or expires, whichever occurs first.</p><p><blockquote>股份可以在公开市场、私下协商交易或根据适用的联邦证券法以其他方式回购。未来回购的具体时间和金额将由市场状况、现金流要求、证券法限制等因素决定。在条件许可的情况下,购回可不时继续进行,直至获得授权购回的股份数目,或直至购回授权终止或届满(以较早者为准)为止。</blockquote></p><p> The share repurchase authorization will be used at management’s discretion and will expire on September 15, 2022, unless further extended by the Board of Directors. The repurchase program may also be suspended, modified, or discontinued at any time.</p><p><blockquote>除非董事会进一步延长,否则股份购回授权将由管理层酌情使用,并将于 2022 年 9 月 15 日到期。回购计划也可能随时暂停、修改或终止。</blockquote></p><p> <b><u>About XpresSpa Group, Inc. </u></b></p><p><blockquote><b><u>关于XpresSpa集团公司。</u></b></blockquote></p><p> XpresSpa Group, Inc. (Nasdaq: XSPA) is a leading global health and wellness holding company operating three distinct brands: Treat™, XpresCheck™, and XpresSpa™. Treat is a travel health and wellness brand that will be providing on-demand access to healthcare through technology and personalized services. XpresCheck is a leading on-site airport provider of COVID-19 screening and testing with 13 locations in 11 domestic airports. XpresSpa is a leading airport retailer of spa services and related health and wellness products, with 43 locations in 21 airports globally.</p><p><blockquote>XpresSpa Group, Inc.(纳斯达克股票代码:XSPA)是一家全球领先的健康和保健控股公司,经营三个不同的品牌:Treat™, XpresCheck™和XpresSpa。™Treat是一个旅游健康和保健品牌,将通过技术和个性化服务提供按需医疗保健服务。XpresCheck是领先的新冠肺炎现场筛查和测试机场提供商,在11个国内机场设有13个地点。XpresSpa是一家领先的机场水疗服务和相关健康和保健产品零售商,在全球21个机场设有43家分店。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2163450854","content_text":"Up to 15 Million Shares of Outstanding Common Stock May Be Repurchased\nNEW YORK, Aug. 31, 2021 (GLOBE NEWSWIRE) -- XpresSpa Group, Inc. (Nasdaq: XSPA), a travel health and wellness company, today announced that its Board of Directors has authorized a stock repurchase program for up to 15,000,000 shares of its outstanding common stock.\n\"Our XpresCheck™ COVID-19 testing business continues to grow and perform well. In July, increased testing volumes and improved mix of higher margin rapid tests resulted in higher overall practice fees than in June. Additionally, these activities exclude any testing related to our new CDC relationship or from our El Al Airlines pilot program. We believe launching a stock buyback program reflects our confidence in the long-term prospects of the business and the undervalued price of our stock,\" said Bruce Bernstein, Chairman of the Board of XpresSpa Group, Inc. “Consistent with our business philosophy, we will continue to evaluate investment opportunities in the business against buying back shares.\"\nThe shares may be repurchased on the open market, in privately negotiated transactions, or otherwise in accordance with applicable federal securities laws. The specific timing and amount of future repurchases will be determined by market conditions, cash flow requirements, securities law limitations, and other factors. Repurchases may continue from time to time, as conditions permit, until the number of shares authorized to be repurchased have been acquired, or until the authorization to repurchase is terminated or expires, whichever occurs first.\nThe share repurchase authorization will be used at management’s discretion and will expire on September 15, 2022, unless further extended by the Board of Directors. The repurchase program may also be suspended, modified, or discontinued at any time.\nAbout XpresSpa Group, Inc. \nXpresSpa Group, Inc. (Nasdaq: XSPA) is a leading global health and wellness holding company operating three distinct brands: Treat™, XpresCheck™, and XpresSpa™. Treat is a travel health and wellness brand that will be providing on-demand access to healthcare through technology and personalized services. XpresCheck is a leading on-site airport provider of COVID-19 screening and testing with 13 locations in 11 domestic airports. XpresSpa is a leading airport retailer of spa services and related health and wellness products, with 43 locations in 21 airports globally.","news_type":1,"symbols_score_info":{"XSPA":0.9}},"isVote":1,"tweetType":1,"viewCount":1676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819486785,"gmtCreate":1630089067547,"gmtModify":1704955832569,"author":{"id":"4089375229568220","authorId":"4089375229568220","name":"yourself","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089375229568220","authorIdStr":"4089375229568220"},"themes":[],"title":"","htmlText":"High quality of people who are","listText":"High quality of people who are","text":"High quality of people who are","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/819486785","repostId":"819395936","repostType":1,"repost":{"id":819395936,"gmtCreate":1630032338921,"gmtModify":1781684056877,"author":{"id":"3527667596890271","authorId":"3527667596890271","name":"Buy_Sell","avatar":"https://static.tigerbbs.com/a5f0ed79a338c758a22e0b4ea13bf9d2","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667596890271","authorIdStr":"3527667596890271"},"themes":[],"title":"🚀【8月27日】美股连涨势头终结?!今天有什么操作?","htmlText":"聊聊今日份的交易想法,包括对于大盘走势后续的看法?看涨/看跌哪只股票、晒晒单等等。 港股市场 8月27日,港股三大指数集体低开,恒指跌0.31%报25337点,国指跌0.17%报8922点,恒生科技指数跌0.01%报6336点。 盘面上,燃气股、乳业股、餐饮股、医药股、烟草概念股、纸业股普遍上涨,蒙牛乳业涨2.65%;大型科网股涨跌不一,<a target=\"_blank\" href=\"https://laohu8.com/S/09888\">$百度集团-SW(09888)$</a> 高开1.34%,<a target=\"_blank\" href=\"https://laohu8.com/S/09618\">$京东集团-SW(09618)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/01024\">$快手-W(01024)$</a> 小幅上涨,<a target=\"_blank\" href=\"https://laohu8.com/S/09988\">$阿里巴巴-SW(09988)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$腾讯控股(00700)$</a> 低开;物管股、体育用品股、光伏股、教育股普跌。 <a target=\"_blank\" href=\"https://laohu8.com/S/02318\">$中国平安(02318)$</a> 高开1.05%,2021年上半年,公司实现归属于母公司股东的营运利润818.36亿元,同比增长10.1%;年化营运ROE达21.0%;归属于母公司股东的净利润580.05亿元,同比下降15.5%。中国平安发布公告称,公司拟使用不低于50亿元且不超过100亿元的自有资金,以不超过82.56元/股的价格回购A股。","listText":"聊聊今日份的交易想法,包括对于大盘走势后续的看法?看涨/看跌哪只股票、晒晒单等等。 港股市场 8月27日,港股三大指数集体低开,恒指跌0.31%报25337点,国指跌0.17%报8922点,恒生科技指数跌0.01%报6336点。 盘面上,燃气股、乳业股、餐饮股、医药股、烟草概念股、纸业股普遍上涨,蒙牛乳业涨2.65%;大型科网股涨跌不一,<a target=\"_blank\" href=\"https://laohu8.com/S/09888\">$百度集团-SW(09888)$</a> 高开1.34%,<a target=\"_blank\" href=\"https://laohu8.com/S/09618\">$京东集团-SW(09618)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/01024\">$快手-W(01024)$</a> 小幅上涨,<a target=\"_blank\" href=\"https://laohu8.com/S/09988\">$阿里巴巴-SW(09988)$</a> 、<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$腾讯控股(00700)$</a> 低开;物管股、体育用品股、光伏股、教育股普跌。 <a target=\"_blank\" href=\"https://laohu8.com/S/02318\">$中国平安(02318)$</a> 高开1.05%,2021年上半年,公司实现归属于母公司股东的营运利润818.36亿元,同比增长10.1%;年化营运ROE达21.0%;归属于母公司股东的净利润580.05亿元,同比下降15.5%。中国平安发布公告称,公司拟使用不低于50亿元且不超过100亿元的自有资金,以不超过82.56元/股的价格回购A股。","text":"聊聊今日份的交易想法,包括对于大盘走势后续的看法?看涨/看跌哪只股票、晒晒单等等。 港股市场 8月27日,港股三大指数集体低开,恒指跌0.31%报25337点,国指跌0.17%报8922点,恒生科技指数跌0.01%报6336点。 盘面上,燃气股、乳业股、餐饮股、医药股、烟草概念股、纸业股普遍上涨,蒙牛乳业涨2.65%;大型科网股涨跌不一,$百度集团-SW(09888)$ 高开1.34%,$京东集团-SW(09618)$ 、$快手-W(01024)$ 小幅上涨,$阿里巴巴-SW(09988)$ 、$腾讯控股(00700)$ 低开;物管股、体育用品股、光伏股、教育股普跌。 $中国平安(02318)$ 高开1.05%,2021年上半年,公司实现归属于母公司股东的营运利润818.36亿元,同比增长10.1%;年化营运ROE达21.0%;归属于母公司股东的净利润580.05亿元,同比下降15.5%。中国平安发布公告称,公司拟使用不低于50亿元且不超过100亿元的自有资金,以不超过82.56元/股的价格回购A股。","images":[{"img":"https://static.tigerbbs.com/2c713dcc3fbf69fd43b5daf1a7b65576","width":"226","height":"220"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/819395936","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"subType":2,"comments":[],"imageCount":2,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2363,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835175480,"gmtCreate":1629698986740,"gmtModify":1631890130250,"author":{"id":"4089375229568220","authorId":"4089375229568220","name":"yourself","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089375229568220","authorIdStr":"4089375229568220"},"themes":[],"title":"","htmlText":"East coast park and to the arts in English","listText":"East coast park and to the arts in English","text":"East coast park and to the arts in English","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/835175480","repostId":"2161742695","repostType":4,"isVote":1,"tweetType":1,"viewCount":3662,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832071605,"gmtCreate":1629551025907,"gmtModify":1631890130254,"author":{"id":"4089375229568220","authorId":"4089375229568220","name":"yourself","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089375229568220","authorIdStr":"4089375229568220"},"themes":[],"title":"","htmlText":"Dear user local I think it's the arts","listText":"Dear user local I think it's the arts","text":"Dear user local I think it's the arts","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/832071605","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohunote.com/m/news/1151608193?lang=zh_CN&edition=full","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares 半导体 ETF 较近期高点下跌超过 6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中,芯片制造商受到的打击比大多数制造商都要大。</blockquote></p><p> The iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.</p><p><blockquote>iShares 半导体 ETF 较近期高点下跌超过 6%,而标准普尔 500 指数、纳斯达克综合指数和道琼斯工业平均指数的跌幅为 2% 或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股票值得买入?或者,这个历史上具有周期性的行业是否故技重施,陷入持续下跌趋势,让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表,但如果您喜欢持有股票多年,而不是租用几天,那么该集团值得购买。主要原因: “这次不一样”。</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>这些无疑是投资中最可怕的词语之一。但芯片行业已经发生了很大的变化,现在确实不同了——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险,那你就是个傻瓜。我会回顾一下这些。但首先,以下是该集团现在 “更安全 ”的三个主要原因--以及我在过去几天里与六位行业专家交谈过的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>“Impax Asset Management 的投资组合经理 David Winborne 说:”受产品周期的驱动,芯片行业的需求总是时好时坏。“<a href=\"https://laohu8.com/S/FBNC\">第一</a>电脑,然后是服务器,然后是电话。”但他表示,现在整个经济对芯片的需求已经扩大,因此长期增长故事更可预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益 “数字化 ”,终端市场需求从各个角度都更加多样化。把远程办公服务想象成<a href=\"https://laohu8.com/S/ZM\">缩放</a>看好该集团的 Gabelli Funds 投资组合经理兼技术分析师 Hendi Susanto 指出,网上购物、云服务、电动汽车、5G 手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>“Motley Fool 芯片行业分析师 John Rotonti 说:”现代数字经济的任何方面都离不开半导体。“这意味着所有东西都有更多的筹码。长期需求是存在的”。</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.</p><p><blockquote>他没开玩笑。威廉·布莱尔分析师格雷格·斯科拉罗预测,到2030年,芯片行业的收入将从2020年的4650亿美元翻一番,达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着,你听到的大范围供应短缺 “可能要到明年年底的某个时候才能得到解决”。<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师 Vivek Arya。“这不仅是我们的观点,而且<a href=\"https://laohu8.com/S/AONE.U\">一</a>大多数大客户都证实了这一点。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2、玩家巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上下游,从设计到各类设备生产商再到制造,行业参与者已经整合成罗通蒂-评级 “赢得 ”的双头垄断或垄断。</blockquote></p><p> In chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.</p><p><blockquote>在芯片设计软件中,你有Cadence Design Systems和Synopsys。在生产设备方面,公司在极紫外光刻 (EUV) 等专业领域占据主导地位,例如 ASML。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好,赢得了他们的利基或双寡头地位。这使得投资者对它们感兴趣。Rotonti 表示,整合还意味着参与者在定价和产能方面的行为更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所改善</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为,加上成本削减,意味着现在的盈利能力比历史上高得多。“温伯恩说:”在过去的几年里,芯片制造的经济性有了很大的改善。现金流或 EBITDA 利润率现在通常超过 30%,而十年前则在 20% 左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere & Co. 的投资组合经理拉马尔·维莱尔 (Lamar Villere) 指出,尽管芯片股票的交易市盈率约为市盈率,但它们看起来很便宜,因为它们是更好的公司。“他们并没有以泡沫倍数进行交易”。</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>要买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近核实的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新管理层玩法</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.</p><p><blockquote>尽管 Thrivent 高级股票研究分析师彼得·卡拉泽里斯 (Peter Karazeris) 有理由对该集团持谨慎态度(见下文),但他特别指出了两家公司的业绩可能会因为新管理层而得到提振:高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳定的盈利能力。高通最近受到德克萨斯州恶劣天气等一次性问题的打击,导致生产中断,但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">半导体</a>正在将手机以外的领域扩展到汽车、工业和物联网等新领域——联网设备领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris 还特别提到了 Nvidia, 由于其卓越的设计能力, Nvidia 从数据中心和游戏设备芯片需求中获得了持续提振。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计,当高通和英伟达等公司想要设计芯片时,他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">概要</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool 的 Rotonti 解释说,他们基于软件的设计工具可以帮助芯片创新者为他们的芯片创建蓝图,他特别指出了这些名字。“他们不是世界上增长最快的公司,但他们的利润率很高”。他们也主宰了太空。</blockquote></p><p> <b>An EUV play</b></p><p><blockquote><b>EUV游戏</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图应用到硅上,台积电和三星等公司转向了ASML。它的机器使用微小的光脉冲将芯片设计模板印在硅片上,这一过程称为极紫外线光刻。“罗通蒂说:”其他人还没有想出怎么做。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说,它在供应这样做的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供过于求</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多,这样它就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne 表示,希望到 2025 年生产其使用的芯片的 70%,高于目前的 5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>结果是,政府为促进制造业提供了大量支持,因此会有更多支持。风险是未来某个时候供应过剩。这也可能会推动芯片设备的采购,导致未来的平静,这可能会损害设备制造商的销售和利润率趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来,像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计,这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair 的 Scolaro 指出,使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流,但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>干扰信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人 (PMI) 指数在 4 月份达到峰值,然后连续三个月放缓。与此同时,芯片销售持续增长。Thrivent 跟踪该指标的 Karazeris 指出,通常两者遵循相同的趋势。他将这种差异归因于库存积累,而库存积累不如真正的终端市场需求可持续。因此,他认为这种背离是芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器(DRAM)芯片定价的预测疲软。“卡拉泽里斯说:”这些通常是在周期的顶部而不是底部看到的东西。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但也有可能全球采购经理人指数的放缓更多的是芯片短缺的反映,而不是短缺并非真实存在的迹象(只是库存积压)。“Leuthold 经济学家兼策略师吉姆-保尔森(Jim Paulsen)说:”这种分歧并不一定意味着芯片订单会翻盘消亡。这意味着芯片制造业必须迎头赶上。</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如,福特刚刚宣布不得不减产是因为芯片短缺,而不是潜在需求不足。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测,由于高储蓄率、就业和收入反弹以及对大件商品被压抑的需求等因素,体面的经济增长是可持续的。如果他是对的,持续的经济实力将支撑对所有使用芯片的产品的需求,包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</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\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股的回调——长期关注这 6 家公司</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-23 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p><p><blockquote><b>iShares 半导体 ETF 较近期高点下跌超过 6%。</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>ISTOCKPHOTO</span></p></blockquote></p><p> In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p><p><blockquote>在股市的滚动调整中,芯片制造商受到的打击比大多数制造商都要大。</blockquote></p><p> The iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.</p><p><blockquote>iShares 半导体 ETF 较近期高点下跌超过 6%,而标准普尔 500 指数、纳斯达克综合指数和道琼斯工业平均指数的跌幅为 2% 或更少。</blockquote></p><p> Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p><p><blockquote>这是否意味着芯片股票值得买入?或者,这个历史上具有周期性的行业是否故技重施,陷入持续下跌趋势,让你大吃一惊。</blockquote></p><p> A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p><p><blockquote>很大程度上取决于您的时间表,但如果您喜欢持有股票多年,而不是租用几天,那么该集团值得购买。主要原因: “这次不一样”。</blockquote></p><p> Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p><p><blockquote>这些无疑是投资中最可怕的词语之一。但芯片行业已经发生了很大的变化,现在确实不同了——这表明它不太可能压垮你。</blockquote></p><p> You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p><p><blockquote>如果你认为没有风险,那你就是个傻瓜。我会回顾一下这些。但首先,以下是该集团现在 “更安全 ”的三个主要原因--以及我在过去几天里与六位行业专家交谈过的六位行业专家青睐的六个名字。</blockquote></p><p> <b>1. The wicked witch of cyclicality is dead</b></p><p><blockquote><b>1.周期性的邪恶女巫死了</b></blockquote></p><p> “Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p><p><blockquote>“Impax Asset Management 的投资组合经理 David Winborne 说:”受产品周期的驱动,芯片行业的需求总是时好时坏。“<a href=\"https://laohu8.com/S/FBNC\">第一</a>电脑,然后是服务器,然后是电话。”但他表示,现在整个经济对芯片的需求已经扩大,因此长期增长故事更可预测。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>看看你周围。由于我们的生活和工作日益 “数字化 ”,终端市场需求从各个角度都更加多样化。把远程办公服务想象成<a href=\"https://laohu8.com/S/ZM\">缩放</a>看好该集团的 Gabelli Funds 投资组合经理兼技术分析师 Hendi Susanto 指出,网上购物、云服务、电动汽车、5G 手机、智能工厂、大数据计算甚至洗衣机。</blockquote></p><p> “There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p><p><blockquote>“Motley Fool 芯片行业分析师 John Rotonti 说:”现代数字经济的任何方面都离不开半导体。“这意味着所有东西都有更多的筹码。长期需求是存在的”。</blockquote></p><p> He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.</p><p><blockquote>他没开玩笑。威廉·布莱尔分析师格雷格·斯科拉罗预测,到2030年,芯片行业的收入将从2020年的4650亿美元翻一番,达到1万亿美元。</blockquote></p><p> All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p><p><blockquote>所有这些都意味着,你听到的大范围供应短缺 “可能要到明年年底的某个时候才能得到解决”。<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师 Vivek Arya。“这不仅是我们的观点,而且<a href=\"https://laohu8.com/S/AONE.U\">一</a>大多数大客户都证实了这一点。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2、玩家巩固</b></blockquote></p><p> All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p><p><blockquote>在生产链的上下游,从设计到各类设备生产商再到制造,行业参与者已经整合成罗通蒂-评级 “赢得 ”的双头垄断或垄断。</blockquote></p><p> In chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.</p><p><blockquote>在芯片设计软件中,你有Cadence Design Systems和Synopsys。在生产设备方面,公司在极紫外光刻 (EUV) 等专业领域占据主导地位,例如 ASML。制造业由台积电和三星电子主导。</blockquote></p><p> These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p><p><blockquote>这些公司通过在他们所做的事情上做到最好,赢得了他们的利基或双寡头地位。这使得投资者对它们感兴趣。Rotonti 表示,整合还意味着参与者在定价和产能方面的行为更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所改善</b></blockquote></p><p> This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p><p><blockquote>这种更加理性的行为,加上成本削减,意味着现在的盈利能力比历史上高得多。“温伯恩说:”在过去的几年里,芯片制造的经济性有了很大的改善。现金流或 EBITDA 利润率现在通常超过 30%,而十年前则在 20% 左右。</blockquote></p><p> This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere & Co. 的投资组合经理拉马尔·维莱尔 (Lamar Villere) 指出,尽管芯片股票的交易市盈率约为市盈率,但它们看起来很便宜,因为它们是更好的公司。“他们并没有以泡沫倍数进行交易”。</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>要买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近核实的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新管理层玩法</b></blockquote></p><p> Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.</p><p><blockquote>尽管 Thrivent 高级股票研究分析师彼得·卡拉泽里斯 (Peter Karazeris) 有理由对该集团持谨慎态度(见下文),但他特别指出了两家公司的业绩可能会因为新管理层而得到提振:高通和安森美半导体。</blockquote></p><p></p><p> Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p><p><blockquote>两者都具有稳定的盈利能力。高通最近受到德克萨斯州恶劣天气等一次性问题的打击,导致生产中断,但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">半导体</a>正在将手机以外的领域扩展到汽车、工业和物联网等新领域——联网设备领域。</blockquote></p><p> <b>A data center and gaming play</b></p><p><blockquote><b>数据中心和游戏</b></blockquote></p><p> Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p><p><blockquote>Karazeris 还特别提到了 Nvidia, 由于其卓越的设计能力, Nvidia 从数据中心和游戏设备芯片需求中获得了持续提振。</blockquote></p><p> <b>Design tool companies</b></p><p><blockquote><b>设计工具公司</b></blockquote></p><p> Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p><p><blockquote>说到设计,当高通和英伟达等公司想要设计芯片时,他们会求助于Cadence Design Systems提供的设计工具和<a href=\"https://laohu8.com/S/SNPS\">概要</a>.</blockquote></p><p> Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p><p><blockquote>Motley Fool 的 Rotonti 解释说,他们基于软件的设计工具可以帮助芯片创新者为他们的芯片创建蓝图,他特别指出了这些名字。“他们不是世界上增长最快的公司,但他们的利润率很高”。他们也主宰了太空。</blockquote></p><p> <b>An EUV play</b></p><p><blockquote><b>EUV游戏</b></blockquote></p><p> To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p><p><blockquote>为了在芯片生产的早期阶段将这些蓝图应用到硅上,台积电和三星等公司转向了ASML。它的机器使用微小的光脉冲将芯片设计模板印在硅片上,这一过程称为极紫外线光刻。“罗通蒂说:”其他人还没有想出怎么做。</blockquote></p><p> In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p><p><blockquote>换句话说,它在供应这样做的机器方面拥有垄断地位——这对于任何想要制造领先芯片的公司来说都是必要的。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> Here are some of the chief risks for chip sector investors to watch.</p><p><blockquote>以下是芯片行业投资者需要关注的一些主要风险。</blockquote></p><p> <b>Oversupply</b></p><p><blockquote><b>供过于求</b></blockquote></p><p> Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p><p><blockquote>芯片生产已经政治化。美国希望在国内生产更多,这样它就不会受到中国供应链中断的影响。<a href=\"https://laohu8.com/S/CAAS\">中国</a>Winborne 表示,希望到 2025 年生产其使用的芯片的 70%,高于目前的 5%。</blockquote></p><p> The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p><p><blockquote>结果是,政府为促进制造业提供了大量支持,因此会有更多支持。风险是未来某个时候供应过剩。这也可能会推动芯片设备的采购,导致未来的平静,这可能会损害设备制造商的销售和利润率趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p><p><blockquote>接下来,像Alphabet、苹果和亚马逊这样的大型科技公司都在做自己的芯片设计,这威胁到了做同样事情的专业芯片公司。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p><p><blockquote><b><a href=\"https://laohu8.com/S/QTM\">量子的</a>计算机的</b></blockquote></p><p> Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p><p><blockquote>William Blair 的 Scolaro 指出,使用基于量子物理学的芯片设计而不是传统半导体架构的计算机具有卓越的性能。“虽然量子计算可能至少在未来五年内不会成为主流,但它有潜力改变从技术到医疗保健的一切。”</blockquote></p><p> <b>A disturbing signal</b></p><p><blockquote><b>干扰信号</b></blockquote></p><p> A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p><p><blockquote>全球采购经理人 (PMI) 指数在 4 月份达到峰值,然后连续三个月放缓。与此同时,芯片销售持续增长。Thrivent 跟踪该指标的 Karazeris 指出,通常两者遵循相同的趋势。他将这种差异归因于库存积累,而库存积累不如真正的终端市场需求可持续。因此,他认为这种背离是芯片行业的看跌信号。</blockquote></p><p> Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p><p><blockquote>另一个警告信号来自动态随机存取存储器(DRAM)芯片定价的预测疲软。“卡拉泽里斯说:”这些通常是在周期的顶部而不是底部看到的东西。</blockquote></p><p> But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p><p><blockquote>但也有可能全球采购经理人指数的放缓更多的是芯片短缺的反映,而不是短缺并非真实存在的迹象(只是库存积压)。“Leuthold 经济学家兼策略师吉姆-保尔森(Jim Paulsen)说:”这种分歧并不一定意味着芯片订单会翻盘消亡。这意味着芯片制造业必须迎头赶上。</blockquote></p><p> Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p><p><blockquote>例如,福特刚刚宣布不得不减产是因为芯片短缺,而不是潜在需求不足。</blockquote></p><p> Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p><p><blockquote>保尔森预测,由于高储蓄率、就业和收入反弹以及对大件商品被压抑的需求等因素,体面的经济增长是可持续的。如果他是对的,持续的经济实力将支撑对所有使用芯片的产品的需求,包括<a href=\"https://laohu8.com/S/F\">福特</a>汽车。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">MarketWatch</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":{"AMZN":"亚马逊","ASML":"阿斯麦","GOOGL":"谷歌A","TSM":"台积电","SSNLF":"三星电子","QCOM":"高通","SNPS":"新思科技","AAPL":"苹果","NVDA":"英伟达","SOXX":"iShares费城交易所半导体ETF","GOOG":"谷歌","ON":"安森美半导体","CDNS":"铿腾电子"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including Ford cars.","news_type":1,"symbols_score_info":{"GOOG":0.9,"GOOGL":0.9,"SNPS":0.9,"CDNS":0.9,"TSM":0.9,"ON":0.9,"SSNLF":0.9,"NVDA":0.9,"AAPL":0.9,"AMZN":0.9,"QCOM":0.9,"ASML":0.9,"SOXX":0.9}},"isVote":1,"tweetType":1,"viewCount":2453,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830404490,"gmtCreate":1629086877410,"gmtModify":1631890130257,"author":{"id":"4089375229568220","authorId":"4089375229568220","name":"yourself","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089375229568220","authorIdStr":"4089375229568220"},"themes":[],"title":"","htmlText":"Ok sure if you have any questions or concerns please visit the entrance to the arts in English literature","listText":"Ok sure if you have any questions or concerns please visit the entrance to the arts in English literature","text":"Ok sure if you have any questions or concerns please visit the entrance to the arts in English literature","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830404490","repostId":"1157945388","repostType":4,"isVote":1,"tweetType":1,"viewCount":2269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}