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2021-09-07

Nice

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2021-09-07

No wonder the share price shot up so fast

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2021-09-07

Only time will tell

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2021-08-26

Nice 🙆🙆🙆🙆🙆🙆🙆🙆

Why Snowflake Shares Are Trading Higher Today<blockquote>为什么雪花股价今天走高</blockquote>

2021-08-26

What are yoir convections for this company

Palantir: Shareholder Unfriendly Company With Limited Upside<blockquote>Palantir：股东不友好的公司，上涨空间有限</blockquote>

2021-08-26

Up and down

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2021-08-21

Fanastic

Buy the pullback in chip stocks — and focus on these 6 companies for the long haul<blockquote>买入芯片股回调——长期关注这6家公司</blockquote>

2021-08-18

Continue buying!

Tencent second-quarter profit rises 29%<blockquote>腾讯控股第二季度利润增长29%</blockquote>

2021-08-12

Sign

Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>

2021-07-27

Idea

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2021-07-20

Woah

Virgin Galactic fell over 7% in morning trading<blockquote>维珍银河早盘跌超7%</blockquote>

2021-07-06

Woohu!!

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2021-07-06

😩😩😩

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2021-06-30

All th4 meme

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2021-06-30

Watchlist?

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2021-06-27

Totalllyyy

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2021-06-26

Great article!

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2021-06-26

Ba baa baa ba baaaa

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2021-06-25

Woah

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2021-06-24

Wow

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🙆🙆🙆🙆🙆🙆🙆🙆","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/810582604","repostId":"2162094573","repostType":4,"repost":{"id":"2162094573","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1629982738,"share":"https://www.laohu8.com/m/news/2162094573?lang=zh_CN&edition=full","pubTime":"2021-08-26 20:58","market":"us","language":"en","title":"Why Snowflake Shares Are Trading Higher Today<blockquote>为什么雪花股价今天走高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2162094573","media":"Benzinga","summary":"Snowflake Inc (NYSE: SNOW) is trading higher Thursday after the company announced better-than-expected second-quarter fiscal 2022 earnings results.","content":"<p><b><a href=\"https://laohu8.com/S/SNOW\">Snowflake</a> Inc</b> (NYSE:SNOW) is trading higher Thursday after the company announced better-than-expected second-quarter fiscal 2022 earnings results.</p><p><blockquote><b><a href=\"https://laohu8.com/S/SNOW\">雪花</a>Inc</b>（纽约证券交易所股票代码：SNOW）周四公布好于预期的2022财年第二季度盈利业绩后，该公司股价走高。</blockquote></p><p> Snowflake reported a&nbsp;quarterly adjusted earnings loss of 4 cents per share, which beat the estimate for a loss of 15 cents per share. The company reported quarterly revenue of $254.6 million, which came in below the estimate of $256.54 million, but represented 103% growth year over year.</p><p><blockquote>Snowflake公布季度调整后每股收益亏损4美分，超出每股亏损15美分的预期。该公司公布的季度收入为2.546亿美元，低于预期的2.5654亿美元，但同比增长103%。</blockquote></p><p> Snowflake expects full-year fiscal 2022 revenue to be in a range of $1.06 billion to $1.07 billion versus the estimate of $1.11 billion.</p><p><blockquote>Snowflake预计2022财年全年收入将在10.6亿美元至10.7亿美元之间，而预期为11.1亿美元。</blockquote></p><p> “Snowflake saw continued momentum in Q2 with triple-digit growth in product revenue, reflecting strength in customer consumption,” said <b>Frank Slootman</b>, chairman and CEO of Snowflake.</p><p><blockquote>“Snowflake在第二季度继续保持增长势头，产品收入实现三位数增长，反映出客户消费的强劲，”<b>弗兰克·斯洛特曼</b>，Snowflake董事长兼CEO。</blockquote></p><p> Snowflake is a data lake, warehousing&nbsp;and sharing company with more than&nbsp;3,000 customers.</p><p><blockquote>Snowflake是一家数据湖、仓储和共享公司，拥有3000多家客户。</blockquote></p><p> <b>SNOW Price Action:</b>&nbsp;Snowflake has traded as high as $429 and as&nbsp;low as $184.71 since its IPO in September.</p><p><blockquote><b>雪价走势：</b>自9月份IPO以来，Snowflake的交易价格最高为429美元，最低为184.71美元。</blockquote></p><p> At last check Thursday, the stock was up 4.03% at $295.27.</p><p><blockquote>截至周四最后一次检查，该股上涨4.03%，至295.27美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Snowflake Shares Are Trading Higher Today<blockquote>为什么雪花股价今天走高</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; 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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: 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\">\nWhy Snowflake Shares Are Trading Higher Today<blockquote>为什么雪花股价今天走高</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-08-26 20:58</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b><a href=\"https://laohu8.com/S/SNOW\">Snowflake</a> Inc</b> (NYSE:SNOW) is trading higher Thursday after the company announced better-than-expected second-quarter fiscal 2022 earnings results.</p><p><blockquote><b><a href=\"https://laohu8.com/S/SNOW\">雪花</a>Inc</b>（纽约证券交易所股票代码：SNOW）周四公布好于预期的2022财年第二季度盈利业绩后，该公司股价走高。</blockquote></p><p> Snowflake reported a&nbsp;quarterly adjusted earnings loss of 4 cents per share, which beat the estimate for a loss of 15 cents per share. The company reported quarterly revenue of $254.6 million, which came in below the estimate of $256.54 million, but represented 103% growth year over year.</p><p><blockquote>Snowflake公布季度调整后每股收益亏损4美分，超出每股亏损15美分的预期。该公司公布的季度收入为2.546亿美元，低于预期的2.5654亿美元，但同比增长103%。</blockquote></p><p> Snowflake expects full-year fiscal 2022 revenue to be in a range of $1.06 billion to $1.07 billion versus the estimate of $1.11 billion.</p><p><blockquote>Snowflake预计2022财年全年收入将在10.6亿美元至10.7亿美元之间，而预期为11.1亿美元。</blockquote></p><p> “Snowflake saw continued momentum in Q2 with triple-digit growth in product revenue, reflecting strength in customer consumption,” said <b>Frank Slootman</b>, chairman and CEO of Snowflake.</p><p><blockquote>“Snowflake在第二季度继续保持增长势头，产品收入实现三位数增长，反映出客户消费的强劲，”<b>弗兰克·斯洛特曼</b>，Snowflake董事长兼CEO。</blockquote></p><p> Snowflake is a data lake, warehousing&nbsp;and sharing company with more than&nbsp;3,000 customers.</p><p><blockquote>Snowflake是一家数据湖、仓储和共享公司，拥有3000多家客户。</blockquote></p><p> <b>SNOW Price Action:</b>&nbsp;Snowflake has traded as high as $429 and as&nbsp;low as $184.71 since its IPO in September.</p><p><blockquote><b>雪价走势：</b>自9月份IPO以来，Snowflake的交易价格最高为429美元，最低为184.71美元。</blockquote></p><p> At last check Thursday, the stock was up 4.03% at $295.27.</p><p><blockquote>截至周四最后一次检查，该股上涨4.03%，至295.27美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNOW":"Snowflake"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162094573","content_text":"Snowflake Inc (NYSE:SNOW) is trading higher Thursday after the company announced better-than-expected second-quarter fiscal 2022 earnings results.\nSnowflake reported a quarterly adjusted earnings loss of 4 cents per share, which beat the estimate for a loss of 15 cents per share. The company reported quarterly revenue of $254.6 million, which came in below the estimate of $256.54 million, but represented 103% growth year over year.\nSnowflake expects full-year fiscal 2022 revenue to be in a range of $1.06 billion to $1.07 billion versus the estimate of $1.11 billion.\n“Snowflake saw continued momentum in Q2 with triple-digit growth in product revenue, reflecting strength in customer consumption,” said Frank Slootman, chairman and CEO of Snowflake.\nSnowflake is a data lake, warehousing and sharing company with more than 3,000 customers.\nSNOW Price Action: Snowflake has traded as high as $429 and as low as $184.71 since its IPO in September.\nAt last check Thursday, the stock was up 4.03% at $295.27.","news_type":1,"symbols_score_info":{"SNOW":0.9}},"isVote":1,"tweetType":1,"viewCount":1489,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837702263,"gmtCreate":1629912022552,"gmtModify":1631890489574,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564727225062351","authorIdStr":"3564727225062351"},"themes":[],"htmlText":"What are yoir convections for this company","listText":"What are yoir convections for this company","text":"What are yoir convections for this company","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/837702263","repostId":"1195506103","repostType":4,"repost":{"id":"1195506103","kind":"news","pubTimestamp":1629901738,"share":"https://www.laohu8.com/m/news/1195506103?lang=zh_CN&edition=full","pubTime":"2021-08-25 22:28","market":"us","language":"en","title":"Palantir: Shareholder Unfriendly Company With Limited Upside<blockquote>Palantir：股东不友好的公司，上涨空间有限</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1195506103","media":"Seeking Alpha","summary":"Summary\n\nPalantir continues to widen its net loss despite improving its top-line performance.\nThe ex","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir continues to widen its net loss despite improving its top-line performance.</li>  <li>The excessive stock-based compensation program continues to eat all the profits and overshadows any growth of revenues or FCF.</li>  <li>We stick to our opinion that Palantir is not going to be able to create a lot of shareholder value anytime soon.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5c6d796592faec81d9a29502efa9c0\" tg-width=\"768\" tg-height=\"512\" width=\"100%\" height=\"auto\"><span>Michael Vi/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>尽管营收业绩有所改善，Palantir的净亏损仍在继续扩大。</li><li>过度的股票薪酬计划继续吞噬所有利润，并掩盖了收入或自由现金流的任何增长。</li><li>我们坚持认为Palantir无法在短期内创造大量股东价值。</li></ul><p class=\"t-img-caption\"><span>Michael Vi/iStock社论来自Getty Images</span></p></blockquote></p><p> The recent Q2 earnings report showed that Palantir (PLTR) continues to struggle to improve its bottom-line performance, as the company spends too much on its excessive stock-based compensation program, which eats all the profits and overshadows any growth of revenues or FCF. In addition, the massive dilution since the beginning of the year and the constant selling pressure from the company's insiders are preventing Palantir's shares from appreciating as well. Also, the fact that Palantir has underperformed against the S&amp;P 500 index in recent months and its stock hasn't moved much since March proves our point that the company is not an attractive investment at this stage, as there's every reason to believe that not a lot of shareholder value will be created anytime soon. For that reason, we continue to believe that it's better to invest in other, more attractive opportunities on the market and avoid Palantir.</p><p><blockquote>最近的第二季度收益报告显示，Palantir(PLTR)继续难以提高其底线业绩，因为该公司在过度的股票薪酬计划上花费过多，该计划吞噬了所有利润并掩盖了收入或自由现金流的任何增长。此外，今年以来的大规模稀释以及公司内部人士持续的抛售压力也阻碍了Palantir股价的升值。此外，Palantir近几个月表现不佳，且其股价自3月份以来没有太大变动，这一事实证明了我们的观点，即该公司现阶段不是一项有吸引力的投资，因为有充分的理由相信，很快就会创造出很多股东价值。因此，我们仍然认为最好投资于市场上其他更具吸引力的机会，并避免Palantir。</blockquote></p><p> <b>There's Nothing Attractive About This Stock</b></p><p><blockquote><b>这只股票没有什么吸引力</b></blockquote></p><p> A lot has been said about Palantir's business and its advantages against other competitors in recent articles on the company, so we won't be discussing it in this article. However, while Palantir certainly has some major advantages since its software solutions are hard to replicate, we also believe that at this stage it doesn't matter how strong its business is, as certain factors are likely going to continue to prevent the company's stock from appreciating anytime soon. Let's not ignore the fact that Palantir's stock has depreciated by over 45% from its all-time high, it also hasn't moved much since we started&nbsp;covering&nbsp;the company on Seeking Alpha in March, and we continue to believe that not a lot of shareholder value will be created anytime soon.</p><p><blockquote>最近有关Palantir的文章中已经对该公司的业务及其相对于其他竞争对手的优势进行了很多讨论，因此我们不会在本文中讨论它。然而，虽然Palantir肯定具有一些主要优势，因为其软件解决方案很难复制，但我们也认为，在现阶段，其业务有多强大并不重要，因为某些因素可能会继续阻止该公司的股票很快就会升值。我们不要忽视这样一个事实：Palantir的股票已从历史高点下跌了45%以上，自从我们3月份开始在Seeking Alpha上报道该公司以来，它也没有太大变化，我们仍然相信不会有太大变化。很快就会创造股东价值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/448991dec6028a9ec320f12e9d0f14f1\" tg-width=\"1280\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p> The latest earnings&nbsp;report&nbsp;for Q2, which was released earlier this month, showed that Palantir is still unable to improve its bottom-line performance despite growing its business. While its revenue has&nbsp;increased&nbsp;by 10.1% Q/Q to $375.64 million and its gross profit has increased by 6.6% Q/Q to $284.7 million, its operating loss has increased at a greater rate of 28.2% Q/Q to -$146.1 million, while its net loss has widened by 12.2% Q/Q to -$138.6 million. The reason for such a weak performance is the excessive stock-based compensation program, which will prevent the company from reporting a profit, as already over $400 million were spent on the SBC program in the first six months of the current fiscal year. In Q2 alone, Palantir increased its stock-based compensation expenses by 82% Y/Y to $232.7 million, and further expenses in Q3 and Q4 will overshadow any growth of revenues or FCF this year.</p><p><blockquote>本月早些时候发布的最新Q2财报显示，尽管业务不断增长，Palantir仍无法改善其底线业绩。虽然其收入环比增长10.1%至3.7564亿美元，毛利润环比增长6.6%至2.847亿美元，但其运营亏损环比增长28.2%至-1.461亿美元，净亏损环比扩大12.2%至-1.386亿美元。业绩如此疲软的原因是过度的股票薪酬计划，这将阻止该公司报告利润，因为本财年前六个月已在SBC计划上花费了超过4亿美元。仅在第二季度，Palantir的股票薪酬支出就同比增加了82%，达到2.327亿美元，第三季度和第四季度的进一步支出将掩盖今年收入或自由现金流的增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d7dd0114d8a61c1246ef79b64fbc68f2\" tg-width=\"748\" tg-height=\"129\" width=\"100%\" height=\"auto\"><span>Source: Palantir</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir</span></p></blockquote></p><p> Another problem with the excessive SBC program is that it constantly dilutes Palantir's shareholders. The company already has 1.89 billion shares outstanding, up&nbsp;from1.8 billion shares a month ago and up from 1.52 billion shares at the end of 2020. At the current dilution rate, investors should expect the company to have over 2 billion shares by the end of this year. This will not only diminish the stock value of current holders but will also make it harder for shares to appreciate higher due to the greater count. If in 2019 and 2020 Palantir's revenue per share stood at $1.29 per share and $1.12 per share, respectively, in the last trailing twelve months revenue per share has already declined to only $0.83 per share and is likely going to depreciate further in the following quarters. On top of that, considering that Palantir still has 417,674 options outstanding at the end of Q2 at the average exercise price of $6.90 per share, the risk of further dilution will remain high, especially since once all of those options are exercised, they will dilute all the investors by over 20%.</p><p><blockquote>过度SBC计划的另一个问题是它不断稀释Palantir的股东。该公司已发行股票18.9亿股，高于一个月前的18亿股和2020年底的15.2亿股。按照目前的稀释率，投资者预计到今年年底该公司将拥有超过20亿股股票。这不仅会降低当前持有者的股票价值，还会使股票因数量增加而更难升值。如果2019年和2020年Palantir的每股收入分别为每股1.29美元和每股1.12美元，那么在过去12个月中，每股收入已经下降至每股0.83美元，并且在接下来的几个季度中可能会进一步贬值。最重要的是，考虑到Palantir在第二季度末仍有417,674份未行使期权，平均行使价为每股6.90美元，进一步稀释的风险仍将很高，特别是因为一旦所有这些期权都被行使，它们将稀释所有投资者超过20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d64c44e10997f737309cf33d72b9c15\" tg-width=\"760\" tg-height=\"166\" width=\"100%\" height=\"auto\"><span>Source: Palantir</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir</span></p></blockquote></p><p></p><p> On top of all of this, the company's insiders and its CEO Alex Karp in particular continue to add additional selling pressure, which prevents shares from rising higher as well. In Q2 alone the company's insiders&nbsp;sold&nbsp;a record $197 million worth of Palantir's shares, while in the first half of Q3 they already sold $93 million worth of the company's shares, nearly the same amount that they sold in Q1. As more shares are being dumped into the market, it becomes harder and harder for the stock to rise. Considering that it's unlikely that insiders stop selling their shares, as they still own over 10% of outstanding shares and are increasing their total number of shares by exercising options every quarter, average shareholders shouldn't expect a rapid appreciation of Palantir's stock in the foreseeable future.</p><p><blockquote>最重要的是，该公司的内部人士，尤其是首席执行官亚历克斯·卡普继续增加额外的抛售压力，这也阻止了股价上涨。仅在第二季度，该公司内部人士就出售了价值创纪录的1.97亿美元的Palantir股票，而在第三季度上半年，他们已经出售了价值9300万美元的公司股票，几乎与第一季度出售的金额相同。随着越来越多的股票被抛售到市场上，股票上涨变得越来越难。考虑到内部人士不太可能停止出售其股票，因为他们仍然拥有超过10%的流通股，并且每个季度都通过行使期权来增加其股票总数，普通股东不应期望Palantir的股票在可预见的未来会迅速升值。</blockquote></p><p> Another downside of Palantir is that, even at the current price, it's not a cheap stock at all; with a market cap of $47 billion, it trades at 30 times its sales. As a result, an even greater top-line growth rate is required for the company to reach its current valuation, and that's unlikely to happen anytime soon. Currently, the street&nbsp;expects&nbsp;Palantir to generate only $1.5 billion in revenues in FY21, and by 2025 it's unlikely that the company will be able to generate annual revenue of over $3.5 billion. Considering that at this stage, Palantir has a backlog of contracts worth only $3.4 billion, which are extended over the next few years, it's safe to say that its stock is significantly overvalued at the current levels. We don't see how the company will grow into its current market value in the next few years, and since its shares currently trade close to the&nbsp;consensus&nbsp;price of $24.16 per share, it's safe to assume that Palantir has limited upside at the current levels.</p><p><blockquote>Palantir的另一个缺点是，即使以目前的价格计算，它也根本不是一只便宜的股票；它的市值为470亿美元，交易价格是其销售额的30倍。因此，该公司需要更高的营收增长率才能达到目前的估值，而这不太可能很快发生。目前，华尔街预计Palantir在2021财年的收入仅为15亿美元，到2025年，该公司的年收入不太可能超过35亿美元。考虑到现阶段Palantir积压的合同价值仅为34亿美元，这些合同将在未来几年内延长，可以肯定地说，其股票在当前水平上被严重高估。我们不知道该公司在未来几年内将如何增长到目前的市值，而且由于其股价目前接近每股24.16美元的共识价格，因此可以有把握地假设Palantir在当前水平上的上涨空间有限。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Bullish investors in the comment section of our articles on Palantir often keep repeating that Amazon (AMZN) was also unprofitable for more than two decades, so the fact that Palantir is being unprofitable as well is not that big a deal at this stage. However, Amazon was reinvesting most of the available resources back into its business to aggressively drive growth, which in the end was justifiable, as the company is now making money every quarter and is the biggest eCommerce company in the world. The same is not the case for Palantir, where insiders are constantly issuing new shares and then dumping them into the market, which constantly dilutes the existing shareholders, widens the overall net loss, and doesn't benefit the business. On top of that, Palantir is now investing in cryptocurrencies, SPACs, and gold bars, instead of its own business, which is something that Amazon wasn't doing and is not doing today. That's why comparing Palantir to Amazon doesn't make any sense.</p><p><blockquote>看涨投资者在我们关于Palantir的文章的评论部分经常重复说，亚马逊(AMZN)也在二十多年里没有盈利，因此Palantir也没有盈利的事实在现阶段并不是什么大不了的事情。然而，亚马逊将大部分可用资源重新投资到其业务中，以积极推动增长，这最终是合理的，因为该公司现在每个季度都在赚钱，并且是世界上最大的电子商务公司。Palantir的情况并非如此，内部人士不断发行新股，然后将其倾销到市场上，这不断稀释现有股东，扩大整体净亏损，对业务没有好处。最重要的是，Palantir现在正在投资加密货币、SPAC和金条，而不是自己的业务，这是亚马逊过去没有做的事情，今天也不会做的事情。这就是为什么将Palantir与亚马逊进行比较没有任何意义。</blockquote></p><p> Considering this, we believe that it's unlikely that Palantir's stock will be able to appreciate significantly higher anytime soon, as the increased selling pressure, constant dilution, and overvaluation are the main reasons why its upside will remain limited at the current price. Therefore, no position.</p><p><blockquote>考虑到这一点，我们认为Palantir的股票不太可能在短期内大幅升值，因为抛售压力增加、不断稀释和估值过高是其在当前价格下上涨空间仍然有限的主要原因。因此，没有立场。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir: Shareholder Unfriendly Company With Limited Upside<blockquote>Palantir：股东不友好的公司，上涨空间有限</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir: Shareholder Unfriendly Company With Limited Upside<blockquote>Palantir：股东不友好的公司，上涨空间有限</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-08-25 22:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir continues to widen its net loss despite improving its top-line performance.</li>  <li>The excessive stock-based compensation program continues to eat all the profits and overshadows any growth of revenues or FCF.</li>  <li>We stick to our opinion that Palantir is not going to be able to create a lot of shareholder value anytime soon.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5c6d796592faec81d9a29502efa9c0\" tg-width=\"768\" tg-height=\"512\" width=\"100%\" height=\"auto\"><span>Michael Vi/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>尽管营收业绩有所改善，Palantir的净亏损仍在继续扩大。</li><li>过度的股票薪酬计划继续吞噬所有利润，并掩盖了收入或自由现金流的任何增长。</li><li>我们坚持认为Palantir无法在短期内创造大量股东价值。</li></ul><p class=\"t-img-caption\"><span>Michael Vi/iStock社论来自Getty Images</span></p></blockquote></p><p> The recent Q2 earnings report showed that Palantir (PLTR) continues to struggle to improve its bottom-line performance, as the company spends too much on its excessive stock-based compensation program, which eats all the profits and overshadows any growth of revenues or FCF. In addition, the massive dilution since the beginning of the year and the constant selling pressure from the company's insiders are preventing Palantir's shares from appreciating as well. Also, the fact that Palantir has underperformed against the S&amp;P 500 index in recent months and its stock hasn't moved much since March proves our point that the company is not an attractive investment at this stage, as there's every reason to believe that not a lot of shareholder value will be created anytime soon. For that reason, we continue to believe that it's better to invest in other, more attractive opportunities on the market and avoid Palantir.</p><p><blockquote>最近的第二季度收益报告显示，Palantir(PLTR)继续难以提高其底线业绩，因为该公司在过度的股票薪酬计划上花费过多，该计划吞噬了所有利润并掩盖了收入或自由现金流的任何增长。此外，今年以来的大规模稀释以及公司内部人士持续的抛售压力也阻碍了Palantir股价的升值。此外，Palantir近几个月表现不佳，且其股价自3月份以来没有太大变动，这一事实证明了我们的观点，即该公司现阶段不是一项有吸引力的投资，因为有充分的理由相信，很快就会创造出很多股东价值。因此，我们仍然认为最好投资于市场上其他更具吸引力的机会，并避免Palantir。</blockquote></p><p> <b>There's Nothing Attractive About This Stock</b></p><p><blockquote><b>这只股票没有什么吸引力</b></blockquote></p><p> A lot has been said about Palantir's business and its advantages against other competitors in recent articles on the company, so we won't be discussing it in this article. However, while Palantir certainly has some major advantages since its software solutions are hard to replicate, we also believe that at this stage it doesn't matter how strong its business is, as certain factors are likely going to continue to prevent the company's stock from appreciating anytime soon. Let's not ignore the fact that Palantir's stock has depreciated by over 45% from its all-time high, it also hasn't moved much since we started&nbsp;covering&nbsp;the company on Seeking Alpha in March, and we continue to believe that not a lot of shareholder value will be created anytime soon.</p><p><blockquote>最近有关Palantir的文章中已经对该公司的业务及其相对于其他竞争对手的优势进行了很多讨论，因此我们不会在本文中讨论它。然而，虽然Palantir肯定具有一些主要优势，因为其软件解决方案很难复制，但我们也认为，在现阶段，其业务有多强大并不重要，因为某些因素可能会继续阻止该公司的股票很快就会升值。我们不要忽视这样一个事实：Palantir的股票已从历史高点下跌了45%以上，自从我们3月份开始在Seeking Alpha上报道该公司以来，它也没有太大变化，我们仍然相信不会有太大变化。很快就会创造股东价值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/448991dec6028a9ec320f12e9d0f14f1\" tg-width=\"1280\" tg-height=\"443\" width=\"100%\" height=\"auto\"><span>Chart: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表：寻求阿尔法</span></p></blockquote></p><p> The latest earnings&nbsp;report&nbsp;for Q2, which was released earlier this month, showed that Palantir is still unable to improve its bottom-line performance despite growing its business. While its revenue has&nbsp;increased&nbsp;by 10.1% Q/Q to $375.64 million and its gross profit has increased by 6.6% Q/Q to $284.7 million, its operating loss has increased at a greater rate of 28.2% Q/Q to -$146.1 million, while its net loss has widened by 12.2% Q/Q to -$138.6 million. The reason for such a weak performance is the excessive stock-based compensation program, which will prevent the company from reporting a profit, as already over $400 million were spent on the SBC program in the first six months of the current fiscal year. In Q2 alone, Palantir increased its stock-based compensation expenses by 82% Y/Y to $232.7 million, and further expenses in Q3 and Q4 will overshadow any growth of revenues or FCF this year.</p><p><blockquote>本月早些时候发布的最新Q2财报显示，尽管业务不断增长，Palantir仍无法改善其底线业绩。虽然其收入环比增长10.1%至3.7564亿美元，毛利润环比增长6.6%至2.847亿美元，但其运营亏损环比增长28.2%至-1.461亿美元，净亏损环比扩大12.2%至-1.386亿美元。业绩如此疲软的原因是过度的股票薪酬计划，这将阻止该公司报告利润，因为本财年前六个月已在SBC计划上花费了超过4亿美元。仅在第二季度，Palantir的股票薪酬支出就同比增加了82%，达到2.327亿美元，第三季度和第四季度的进一步支出将掩盖今年收入或自由现金流的增长。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d7dd0114d8a61c1246ef79b64fbc68f2\" tg-width=\"748\" tg-height=\"129\" width=\"100%\" height=\"auto\"><span>Source: Palantir</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir</span></p></blockquote></p><p> Another problem with the excessive SBC program is that it constantly dilutes Palantir's shareholders. The company already has 1.89 billion shares outstanding, up&nbsp;from1.8 billion shares a month ago and up from 1.52 billion shares at the end of 2020. At the current dilution rate, investors should expect the company to have over 2 billion shares by the end of this year. This will not only diminish the stock value of current holders but will also make it harder for shares to appreciate higher due to the greater count. If in 2019 and 2020 Palantir's revenue per share stood at $1.29 per share and $1.12 per share, respectively, in the last trailing twelve months revenue per share has already declined to only $0.83 per share and is likely going to depreciate further in the following quarters. On top of that, considering that Palantir still has 417,674 options outstanding at the end of Q2 at the average exercise price of $6.90 per share, the risk of further dilution will remain high, especially since once all of those options are exercised, they will dilute all the investors by over 20%.</p><p><blockquote>过度SBC计划的另一个问题是它不断稀释Palantir的股东。该公司已发行股票18.9亿股，高于一个月前的18亿股和2020年底的15.2亿股。按照目前的稀释率，投资者预计到今年年底该公司将拥有超过20亿股股票。这不仅会降低当前持有者的股票价值，还会使股票因数量增加而更难升值。如果2019年和2020年Palantir的每股收入分别为每股1.29美元和每股1.12美元，那么在过去12个月中，每股收入已经下降至每股0.83美元，并且在接下来的几个季度中可能会进一步贬值。最重要的是，考虑到Palantir在第二季度末仍有417,674份未行使期权，平均行使价为每股6.90美元，进一步稀释的风险仍将很高，特别是因为一旦所有这些期权都被行使，它们将稀释所有投资者超过20%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d64c44e10997f737309cf33d72b9c15\" tg-width=\"760\" tg-height=\"166\" width=\"100%\" height=\"auto\"><span>Source: Palantir</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir</span></p></blockquote></p><p></p><p> On top of all of this, the company's insiders and its CEO Alex Karp in particular continue to add additional selling pressure, which prevents shares from rising higher as well. In Q2 alone the company's insiders&nbsp;sold&nbsp;a record $197 million worth of Palantir's shares, while in the first half of Q3 they already sold $93 million worth of the company's shares, nearly the same amount that they sold in Q1. As more shares are being dumped into the market, it becomes harder and harder for the stock to rise. Considering that it's unlikely that insiders stop selling their shares, as they still own over 10% of outstanding shares and are increasing their total number of shares by exercising options every quarter, average shareholders shouldn't expect a rapid appreciation of Palantir's stock in the foreseeable future.</p><p><blockquote>最重要的是，该公司的内部人士，尤其是首席执行官亚历克斯·卡普继续增加额外的抛售压力，这也阻止了股价上涨。仅在第二季度，该公司内部人士就出售了价值创纪录的1.97亿美元的Palantir股票，而在第三季度上半年，他们已经出售了价值9300万美元的公司股票，几乎与第一季度出售的金额相同。随着越来越多的股票被抛售到市场上，股票上涨变得越来越难。考虑到内部人士不太可能停止出售其股票，因为他们仍然拥有超过10%的流通股，并且每个季度都通过行使期权来增加其股票总数，普通股东不应期望Palantir的股票在可预见的未来会迅速升值。</blockquote></p><p> Another downside of Palantir is that, even at the current price, it's not a cheap stock at all; with a market cap of $47 billion, it trades at 30 times its sales. As a result, an even greater top-line growth rate is required for the company to reach its current valuation, and that's unlikely to happen anytime soon. Currently, the street&nbsp;expects&nbsp;Palantir to generate only $1.5 billion in revenues in FY21, and by 2025 it's unlikely that the company will be able to generate annual revenue of over $3.5 billion. Considering that at this stage, Palantir has a backlog of contracts worth only $3.4 billion, which are extended over the next few years, it's safe to say that its stock is significantly overvalued at the current levels. We don't see how the company will grow into its current market value in the next few years, and since its shares currently trade close to the&nbsp;consensus&nbsp;price of $24.16 per share, it's safe to assume that Palantir has limited upside at the current levels.</p><p><blockquote>Palantir的另一个缺点是，即使以目前的价格计算，它也根本不是一只便宜的股票；它的市值为470亿美元，交易价格是其销售额的30倍。因此，该公司需要更高的营收增长率才能达到目前的估值，而这不太可能很快发生。目前，华尔街预计Palantir在2021财年的收入仅为15亿美元，到2025年，该公司的年收入不太可能超过35亿美元。考虑到现阶段Palantir积压的合同价值仅为34亿美元，这些合同将在未来几年内延长，可以肯定地说，其股票在当前水平上被严重高估。我们不知道该公司在未来几年内将如何增长到目前的市值，而且由于其股价目前接近每股24.16美元的共识价格，因此可以有把握地假设Palantir在当前水平上的上涨空间有限。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Bullish investors in the comment section of our articles on Palantir often keep repeating that Amazon (AMZN) was also unprofitable for more than two decades, so the fact that Palantir is being unprofitable as well is not that big a deal at this stage. However, Amazon was reinvesting most of the available resources back into its business to aggressively drive growth, which in the end was justifiable, as the company is now making money every quarter and is the biggest eCommerce company in the world. The same is not the case for Palantir, where insiders are constantly issuing new shares and then dumping them into the market, which constantly dilutes the existing shareholders, widens the overall net loss, and doesn't benefit the business. On top of that, Palantir is now investing in cryptocurrencies, SPACs, and gold bars, instead of its own business, which is something that Amazon wasn't doing and is not doing today. That's why comparing Palantir to Amazon doesn't make any sense.</p><p><blockquote>看涨投资者在我们关于Palantir的文章的评论部分经常重复说，亚马逊(AMZN)也在二十多年里没有盈利，因此Palantir也没有盈利的事实在现阶段并不是什么大不了的事情。然而，亚马逊将大部分可用资源重新投资到其业务中，以积极推动增长，这最终是合理的，因为该公司现在每个季度都在赚钱，并且是世界上最大的电子商务公司。Palantir的情况并非如此，内部人士不断发行新股，然后将其倾销到市场上，这不断稀释现有股东，扩大整体净亏损，对业务没有好处。最重要的是，Palantir现在正在投资加密货币、SPAC和金条，而不是自己的业务，这是亚马逊过去没有做的事情，今天也不会做的事情。这就是为什么将Palantir与亚马逊进行比较没有任何意义。</blockquote></p><p> Considering this, we believe that it's unlikely that Palantir's stock will be able to appreciate significantly higher anytime soon, as the increased selling pressure, constant dilution, and overvaluation are the main reasons why its upside will remain limited at the current price. Therefore, no position.</p><p><blockquote>考虑到这一点，我们认为Palantir的股票不太可能在短期内大幅升值，因为抛售压力增加、不断稀释和估值过高是其在当前价格下上涨空间仍然有限的主要原因。因此，没有立场。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4451225-palantir-shareholder-unfriendly-company-with-limited-upside-pltr\">Seeking Alpha</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":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4451225-palantir-shareholder-unfriendly-company-with-limited-upside-pltr","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195506103","content_text":"Summary\n\nPalantir continues to widen its net loss despite improving its top-line performance.\nThe excessive stock-based compensation program continues to eat all the profits and overshadows any growth of revenues or FCF.\nWe stick to our opinion that Palantir is not going to be able to create a lot of shareholder value anytime soon.\n\nMichael Vi/iStock Editorial via Getty Images\nThe recent Q2 earnings report showed that Palantir (PLTR) continues to struggle to improve its bottom-line performance, as the company spends too much on its excessive stock-based compensation program, which eats all the profits and overshadows any growth of revenues or FCF. In addition, the massive dilution since the beginning of the year and the constant selling pressure from the company's insiders are preventing Palantir's shares from appreciating as well. Also, the fact that Palantir has underperformed against the S&P 500 index in recent months and its stock hasn't moved much since March proves our point that the company is not an attractive investment at this stage, as there's every reason to believe that not a lot of shareholder value will be created anytime soon. For that reason, we continue to believe that it's better to invest in other, more attractive opportunities on the market and avoid Palantir.\nThere's Nothing Attractive About This Stock\nA lot has been said about Palantir's business and its advantages against other competitors in recent articles on the company, so we won't be discussing it in this article. However, while Palantir certainly has some major advantages since its software solutions are hard to replicate, we also believe that at this stage it doesn't matter how strong its business is, as certain factors are likely going to continue to prevent the company's stock from appreciating anytime soon. Let's not ignore the fact that Palantir's stock has depreciated by over 45% from its all-time high, it also hasn't moved much since we started covering the company on Seeking Alpha in March, and we continue to believe that not a lot of shareholder value will be created anytime soon.\nChart: Seeking Alpha\nThe latest earnings report for Q2, which was released earlier this month, showed that Palantir is still unable to improve its bottom-line performance despite growing its business. While its revenue has increased by 10.1% Q/Q to $375.64 million and its gross profit has increased by 6.6% Q/Q to $284.7 million, its operating loss has increased at a greater rate of 28.2% Q/Q to -$146.1 million, while its net loss has widened by 12.2% Q/Q to -$138.6 million. The reason for such a weak performance is the excessive stock-based compensation program, which will prevent the company from reporting a profit, as already over $400 million were spent on the SBC program in the first six months of the current fiscal year. In Q2 alone, Palantir increased its stock-based compensation expenses by 82% Y/Y to $232.7 million, and further expenses in Q3 and Q4 will overshadow any growth of revenues or FCF this year.\nSource: Palantir\nAnother problem with the excessive SBC program is that it constantly dilutes Palantir's shareholders. The company already has 1.89 billion shares outstanding, up from1.8 billion shares a month ago and up from 1.52 billion shares at the end of 2020. At the current dilution rate, investors should expect the company to have over 2 billion shares by the end of this year. This will not only diminish the stock value of current holders but will also make it harder for shares to appreciate higher due to the greater count. If in 2019 and 2020 Palantir's revenue per share stood at $1.29 per share and $1.12 per share, respectively, in the last trailing twelve months revenue per share has already declined to only $0.83 per share and is likely going to depreciate further in the following quarters. On top of that, considering that Palantir still has 417,674 options outstanding at the end of Q2 at the average exercise price of $6.90 per share, the risk of further dilution will remain high, especially since once all of those options are exercised, they will dilute all the investors by over 20%.\nSource: Palantir\nOn top of all of this, the company's insiders and its CEO Alex Karp in particular continue to add additional selling pressure, which prevents shares from rising higher as well. In Q2 alone the company's insiders sold a record $197 million worth of Palantir's shares, while in the first half of Q3 they already sold $93 million worth of the company's shares, nearly the same amount that they sold in Q1. As more shares are being dumped into the market, it becomes harder and harder for the stock to rise. Considering that it's unlikely that insiders stop selling their shares, as they still own over 10% of outstanding shares and are increasing their total number of shares by exercising options every quarter, average shareholders shouldn't expect a rapid appreciation of Palantir's stock in the foreseeable future.\nAnother downside of Palantir is that, even at the current price, it's not a cheap stock at all; with a market cap of $47 billion, it trades at 30 times its sales. As a result, an even greater top-line growth rate is required for the company to reach its current valuation, and that's unlikely to happen anytime soon. Currently, the street expects Palantir to generate only $1.5 billion in revenues in FY21, and by 2025 it's unlikely that the company will be able to generate annual revenue of over $3.5 billion. Considering that at this stage, Palantir has a backlog of contracts worth only $3.4 billion, which are extended over the next few years, it's safe to say that its stock is significantly overvalued at the current levels. We don't see how the company will grow into its current market value in the next few years, and since its shares currently trade close to the consensus price of $24.16 per share, it's safe to assume that Palantir has limited upside at the current levels.\nTakeaway\nBullish investors in the comment section of our articles on Palantir often keep repeating that Amazon (AMZN) was also unprofitable for more than two decades, so the fact that Palantir is being unprofitable as well is not that big a deal at this stage. However, Amazon was reinvesting most of the available resources back into its business to aggressively drive growth, which in the end was justifiable, as the company is now making money every quarter and is the biggest eCommerce company in the world. The same is not the case for Palantir, where insiders are constantly issuing new shares and then dumping them into the market, which constantly dilutes the existing shareholders, widens the overall net loss, and doesn't benefit the business. On top of that, Palantir is now investing in cryptocurrencies, SPACs, and gold bars, instead of its own business, which is something that Amazon wasn't doing and is not doing today. That's why comparing Palantir to Amazon doesn't make any sense.\nConsidering this, we believe that it's unlikely that Palantir's stock will be able to appreciate significantly higher anytime soon, as the increased selling pressure, constant dilution, and overvaluation are the main reasons why its upside will remain limited at the current price. Therefore, no position.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":3142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837709662,"gmtCreate":1629910907156,"gmtModify":1631890489586,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564727225062351","authorIdStr":"3564727225062351"},"themes":[],"htmlText":"Up and down","listText":"Up and down","text":"Up and down","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/837709662","repostId":"2162540270","repostType":4,"isVote":1,"tweetType":1,"viewCount":3102,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832909645,"gmtCreate":1629552246087,"gmtModify":1631890489596,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564727225062351","authorIdStr":"3564727225062351"},"themes":[],"htmlText":"Fanastic","listText":"Fanastic","text":"Fanastic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/832909645","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohu8.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严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、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值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，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，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。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>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——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。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈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表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，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，因此长期增长情况更加可预测。</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”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、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表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。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&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro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所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</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>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。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来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</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远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在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 &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</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&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师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，它们的业绩可能会因为在新管理层的领导下而得到提振：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>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</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，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</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，当像高通和英伟达这样的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\">新思科技</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帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</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放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</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，它在供应做到这一点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>供应过剩</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产品，这样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70%的芯片，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>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;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>令人不安的信号</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>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为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&nbsp;(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。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</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>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。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，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</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被压抑的大件商品需求等因素，良好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持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严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、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值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，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，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。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>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——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。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈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表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，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，因此长期增长情况更加可预测。</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”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、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表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。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&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro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所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</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>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。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来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</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远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在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 &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</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&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师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，它们的业绩可能会因为在新管理层的领导下而得到提振：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>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</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，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</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，当像高通和英伟达这样的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\">新思科技</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帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</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放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</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，它在供应做到这一点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>供应过剩</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产品，这样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70%的芯片，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>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;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>令人不安的信号</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>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为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&nbsp;(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。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</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>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。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，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</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被压抑的大件商品需求等因素，良好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持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":{"AAPL":"苹果","ASML":"阿斯麦","CDNS":"铿腾电子","SNPS":"新思科技","GOOGL":"谷歌A","NVDA":"英伟达","SSNLF":"三星电子","TSM":"台积电","SOXX":"iShares费城交易所半导体ETF","ON":"安森美半导体","AMZN":"亚马逊","GOOG":"谷歌","QCOM":"高通"},"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":{"AMZN":0.9,"TSM":0.9,"SOXX":0.9,"SNPS":0.9,"ASML":0.9,"QCOM":0.9,"GOOG":0.9,"AAPL":0.9,"ON":0.9,"CDNS":0.9,"GOOGL":0.9,"NVDA":0.9,"SSNLF":0.9}},"isVote":1,"tweetType":1,"viewCount":1348,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831992467,"gmtCreate":1629277449659,"gmtModify":1631890489610,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564727225062351","authorIdStr":"3564727225062351"},"themes":[],"htmlText":"Continue buying!&nbsp;","listText":"Continue buying!&nbsp;","text":"Continue buying!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831992467","repostId":"1129654171","repostType":4,"repost":{"id":"1129654171","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":1629276411,"share":"https://www.laohu8.com/m/news/1129654171?lang=zh_CN&edition=full","pubTime":"2021-08-18 16:46","market":"hk","language":"en","title":"Tencent second-quarter profit rises 29%<blockquote>腾讯控股第二季度利润增长29%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129654171","media":"Tiger Newspress","summary":"(Aug 18) Chinese gaming and social media giant Tencent Holdings(0700.HK)posted a 29% rise in second-","content":"<p>(Aug 18)&nbsp;Chinese gaming and social media giant Tencent Holdings(0700.HK)posted a 29% rise in second-quarter profit, a slower pace of growth after the coronavirus pandemic led to a boom in online gaming last year.</p><p><blockquote>（8月18日）中国游戏和社交媒体巨头腾讯控股控股（0700.HK）公布第二季度利润增长29%，在去年冠状病毒疫情导致在线游戏繁荣后，增长速度放缓。</blockquote></p><p> Net profit for the three months through June came in at 42.6 billion yuan, above an average Refinitiv estimate drawn from 13 analysts of 34.4 billion yuan.</p><p><blockquote>截至6月份的三个月净利润为426亿元人民币，高于路孚特13位分析师平均预期的344亿元人民币。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0c6a35977c62913bdc8dae5672c11cda\" tg-width=\"1230\" tg-height=\"606\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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: 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\">\nTencent second-quarter profit rises 29%<blockquote>腾讯控股第二季度利润增长29%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-18 16:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug 18)&nbsp;Chinese gaming and social media giant Tencent Holdings(0700.HK)posted a 29% rise in second-quarter profit, a slower pace of growth after the coronavirus pandemic led to a boom in online gaming last year.</p><p><blockquote>（8月18日）中国游戏和社交媒体巨头腾讯控股控股（0700.HK）公布第二季度利润增长29%，在去年冠状病毒疫情导致在线游戏繁荣后，增长速度放缓。</blockquote></p><p> Net profit for the three months through June came in at 42.6 billion yuan, above an average Refinitiv estimate drawn from 13 analysts of 34.4 billion yuan.</p><p><blockquote>截至6月份的三个月净利润为426亿元人民币，高于路孚特13位分析师平均预期的344亿元人民币。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0c6a35977c62913bdc8dae5672c11cda\" tg-width=\"1230\" tg-height=\"606\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00700":"腾讯控股","TCEHY":"腾讯控股ADR"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129654171","content_text":"(Aug 18) Chinese gaming and social media giant Tencent Holdings(0700.HK)posted a 29% rise in second-quarter profit, a slower pace of growth after the coronavirus pandemic led to a boom in online gaming last year.\nNet profit for the three months through June came in at 42.6 billion yuan, above an average Refinitiv estimate drawn from 13 analysts of 34.4 billion yuan.","news_type":1,"symbols_score_info":{"00700":0.9,"TCEHY":0.9}},"isVote":1,"tweetType":1,"viewCount":1048,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895075982,"gmtCreate":1628697901946,"gmtModify":1631890489619,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564727225062351","authorIdStr":"3564727225062351"},"themes":[],"htmlText":"Sign","listText":"Sign","text":"Sign","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/895075982","repostId":"1141858457","repostType":2,"repost":{"id":"1141858457","kind":"news","pubTimestamp":1628693066,"share":"https://www.laohu8.com/m/news/1141858457?lang=zh_CN&edition=full","pubTime":"2021-08-11 22:44","market":"us","language":"en","title":"Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141858457","media":"Benzinga","summary":"The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with","content":"<p><div> The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-...</p><p><blockquote><div>华特·迪士尼公司和《黑寡妇》明星斯嘉丽·约翰逊之间的不和有了新的转折，据报道，该公司取消了之前宣布的两届奥斯卡奖的计划项目...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDisney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-11 22:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-...</p><p><blockquote><div>华特·迪士尼公司和《黑寡妇》明星斯嘉丽·约翰逊之间的不和有了新的转折，据报道，该公司取消了之前宣布的两届奥斯卡奖的计划项目...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">Benzinga</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":{"DIS":"迪士尼"},"source_url":"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141858457","content_text":"The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-nominated actress.\nWhat Happened:According to a report on the entertainment siteGiantFreakinRobot.combased on information from “one of our trusted and proven inside sources,” Disney has dropped the “Tower of Terror” project that Johansson was scheduled to star in and produce through her These Pictures company.\n“Tower of Terror” is based on the popular Disney theme park ride.Colliderfirst reported the project had the greenlight in June, with “Toy Story 4” director Josh Cooley at work on a screenplay. The ride inspired a 1997 made-for-television Disney film with Steve Guttenbergand the studio has trying to develop a theatrical feature since 2015.\nWhat Else Happened:Besides giving “Tower of Terror” the kibosh, the studio is also closing the door on any potential future projects with Johansson, whosued Disneyover breach of contract in connection with having her “Black Widow” salary linked to the film’s theatrical release. The studio gave the film a simultaneous theatrical and streaming release, which Johansson said violated her contract and ensured she would be receiving less money for her performance.\nJohansson’s only other 2021 film role will be a voice performance in the animated film “Sing 2” from Comcast Corporation’s Universal Pictures, which is scheduled for a December release. She is in pre-production as star and producer on the science-fiction drama “Bride,” which will be released by A24 and Apple Inc. .\nIn early 2020, Johansson and Chris Evans were cited in multiple entertainment media sources as being in talks to star in a remake of the musical “Little Shop of Horrors” for the AT&T subsidiary Warner Bros. However, Evans told an interviewer in March the project has been put on indefinite hold because the projected film budget became too large.","news_type":1,"symbols_score_info":{"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":2126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803990411,"gmtCreate":1627399457033,"gmtModify":1631890489632,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564727225062351","authorIdStr":"3564727225062351"},"themes":[],"htmlText":"Idea","listText":"Idea","text":"Idea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803990411","repostId":"2154156259","repostType":2,"isVote":1,"tweetType":1,"viewCount":2542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178155694,"gmtCreate":1626793485218,"gmtModify":1631893597949,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3564727225062351","authorIdStr":"3564727225062351"},"themes":[],"htmlText":"Woah","listText":"Woah","text":"Woah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/178155694","repostId":"1182166123","repostType":2,"repost":{"id":"1182166123","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":1626789320,"share":"https://www.laohu8.com/m/news/1182166123?lang=zh_CN&edition=full","pubTime":"2021-07-20 21:55","market":"us","language":"en","title":"Virgin Galactic fell over 7% in morning trading<blockquote>维珍银河早盘跌超7%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182166123","media":"Tiger Newspress","summary":"(July 20) Virgin Galactic fell over 7% in morning trading. Minutes ago, Jeff Bezos reaches space on ","content":"<p>(July 20)&nbsp;<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a> fell over 7% in morning trading.&nbsp;Minutes ago, Jeff Bezos reaches space on Blue Origin’s first crewed launch</p><p><blockquote>（7月20日）<a href=\"https://laohu8.com/S/SPCE\">维珍银河</a>早盘跌超7%。几分钟前，杰夫·贝索斯乘坐蓝色起源首次载人发射抵达太空</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08838544d173bf3e12d08989cc775e1\" tg-width=\"709\" tg-height=\"547\" referrerpolicy=\"no-referrer\"></p><p><blockquote></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>Virgin Galactic fell over 7% in morning trading<blockquote>维珍银河早盘跌超7%</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\">\nVirgin Galactic fell over 7% in morning trading<blockquote>维珍银河早盘跌超7%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-20 21:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(July 20)&nbsp;<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a> fell over 7% in morning trading.&nbsp;Minutes ago, Jeff Bezos reaches space on Blue Origin’s first crewed launch</p><p><blockquote>（7月20日）<a href=\"https://laohu8.com/S/SPCE\">维珍银河</a>早盘跌超7%。几分钟前，杰夫·贝索斯乘坐蓝色起源首次载人发射抵达太空</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08838544d173bf3e12d08989cc775e1\" tg-width=\"709\" tg-height=\"547\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182166123","content_text":"(July 20) Virgin Galactic fell over 7% in morning trading. Minutes ago, Jeff Bezos reaches space on Blue Origin’s first crewed 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21)&nbsp;EV stocks fell in morning trading.</p><p><blockquote>（6月21日）电动汽车股早盘下跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e7e7cf675e122ca02f2d220cde025a88\" tg-width=\"310\" tg-height=\"239\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","NIO":"蔚来","LI":"理想汽车","TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136791321","content_text":"(June 21) EV stocks fell in morning 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course!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129178005","repostId":"1117967474","repostType":4,"repost":{"id":"1117967474","kind":"news","pubTimestamp":1624343566,"share":"https://www.laohu8.com/m/news/1117967474?lang=zh_CN&edition=full","pubTime":"2021-06-22 14:32","market":"us","language":"en","title":"Which of These 2 Beverage Stocks Is Primed for Bigger Growth?<blockquote>这两只饮料股中哪一只有望实现更大的增长？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117967474","media":"fool","summary":"Summer warmth returning across the northern hemisphere has consumers' increasing thirst for a cool, ","content":"<p>Summer warmth returning across the northern hemisphere has consumers' increasing thirst for a cool, refreshing beverage. Add to that a ramp-up in demand from foodservice specialists like restaurants seeing an easing or elimination of many stringent coronavirus-related lockdowns, and you have beverage stocks like&nbsp;<b>Coca-Cola</b>(NYSE:KO)and&nbsp;<b>Monster Beverage</b>(NASDAQ:MNST)expecting a boost in revenue for the rest of the year.</p><p><blockquote>北半球夏季温暖回归，消费者对清凉饮料的渴望日益增加。除此之外，餐馆等餐饮服务专家的需求也在增加，许多与冠状病毒相关的严格封锁措施得到了放松或取消，而且还有饮料股，例如<b>可口可乐</b>（纽约证券交易所代码：KO）和<b>怪物饮料</b>（纳斯达克：MNST）预计今年剩余时间的收入将有所增长。</blockquote></p><p> While at first glance the beverage giant Coca-Cola appears the clear winner between these two stocks, there are some reasons you might want to consider the plucky energy drink maker as a potential addition to your stock holdings, too.</p><p><blockquote>虽然乍一看，饮料巨头可口可乐似乎是这两只股票之间的明显赢家，但有一些原因您可能也想将这家勇敢的能量饮料制造商视为您股票持有的潜在补充。</blockquote></p><p> 1. Coca-Cola: not currently focused on growth</p><p><blockquote>1、可口可乐：目前不专注于增长</blockquote></p><p> A titanic enterprise with quarterly revenue in the billions and a presence in nearly every country on Earth, Coca-Cola is a solid business that weathered the pandemic largely intact. Its stock price fell alongside other stocks this past year, but it continues to churn out fizzy beverages and held a 43.7% soft drink market share in the U.S. in 2019, according to Statista.</p><p><blockquote>可口可乐是一家季度收入数十亿美元、业务遍及地球上几乎每个国家的大型企业，是一家稳健的企业，在疫情期间基本完好无损。根据Statista的数据，去年其股价与其他股票一起下跌，但该公司继续生产碳酸饮料，并在2019年占据美国软饮料市场43.7%的份额。</blockquote></p><p> Coca-Cola's share price has basically been flat since the start of the year. While it has risen roughly 23.4% over the past five years, the<b>S&amp;P 500</b>has soared about 107% over the same period.</p><p><blockquote>可口可乐的股价自年初以来基本持平。虽然过去五年增长了约23.4%，但<b>标普500</b>同期飙升了约107%。</blockquote></p><p> There are many reasons for Coca-Cola's relatively sluggish growth, including the maturity of many of its markets. Management has made some efforts to account for this, initiating a lengthy process of streamlining its operations and chopping out the deadwood, but revenue has declined annually since 2012 (with the exception of positive growth in 2019). COVID-19 definitely had an effect on revenue, but it is bouncing back from the 2020 trough. Even here, though, the rebound is modest during the first quarter of 2021, gaining 4.9% year over year.</p><p><blockquote>可口可乐增长相对缓慢的原因有很多，包括其许多市场的成熟。管理层为此做出了一些努力，启动了精简运营和砍掉朽木的漫长过程，但自2012年以来，收入逐年下降（2019年实现正增长除外）。COVID-19肯定对收入产生了影响，但它正在从2020年的低谷中反弹。不过，即使在这里，2021年第一季度的反弹也是温和的，同比增长4.9%。</blockquote></p><p> The relative stability of Coca-Cola's earnings per share (EPS) despite the steadily lessening revenue is a barometer of the company's success at controlling costs while making its operations leaner and more efficient. Beverage Daily noted in February 2021 the company has approximately halved its number of brands, shutting down some 200 \"zombie brands\" so it can focus resources on promoting and improving the remaining 200 \"master brands.\"</p><p><blockquote>尽管收入稳步下降，但可口可乐每股收益（EPS）相对稳定，这是该公司在控制成本同时使运营更加精简和高效方面取得成功的晴雨表。《饮料日报》在2021年2月指出，该公司已将品牌数量减少了大约一半，关闭了约200个“僵尸品牌”，以便将资源集中在推广和改善其余200个“主品牌”上。</blockquote></p><p> CEO James Quincey told Beverage Daily that Coke's strategy aims at \"finding a way to be able to identify the biggest bets within the innovation pipeline.\" Quincey listed two major initiatives for 2021 -- the introduction of Topo Chico hard seltzer and Coke Energy energy drinks -- but Coke Energy was discontinued in mid-May.&nbsp;Energy drinks are a popular category, with estimates projecting a 7% compound annual growth rate (CAGR) through 2025. The total energy drink market was worth more than $57 billion in 2020, and Food Navigator USA cites Beverage Digest figures indicating Coke Energy only accounted for 0.7% market share in 2020, compared to Monster Beverage's 15% share.</p><p><blockquote>首席执行官詹姆斯·昆西(James Quincey)告诉《饮料日报》，可口可乐的战略旨在“找到一种方法，能够确定创新管道中最大的赌注”。Quincey列出了2021年的两项主要举措——推出Topo Chico hard seltzer和Coke Energy能量饮料——但Coke Energy已于5月中旬停产。能量饮料是一个受欢迎的类别，预计到2025年复合年增长率(CAGR)为7%。2020年，能量饮料市场总额超过570亿美元，Food Navigator USA引用Beverage Digest的数据显示，Coke Energy在2020年仅占0.7%的市场份额，而Monster Beverage的份额为15%。</blockquote></p><p> One strength that Coca-Cola enjoys that Monster Beverage hasn't developed yet is a strong dividend. Coke has earned its status as aDividend King, with over a half-century of reliable yearly dividend growth, and itsyield frequently topping 3%.&nbsp;Monster doesn't even have a dividend, let alone one paid and increased steadily for 59 years.</p><p><blockquote>可口可乐享有而Monster Beverage尚未开发的一项优势是强劲的股息。可口可乐凭借半个多世纪以来可靠的年度股息增长，赢得了股息之王的地位，其股息率经常超过3%。Monster甚至没有股息，更不用说支付并稳定增长了59年。</blockquote></p><p> 2. Monster: the high-growth energy drink dynamo</p><p><blockquote>2.怪兽：高增长的能量饮料发电机</blockquote></p><p> Where giant Coca-Cola seems preoccupied with internal reshuffling to the point of allowing its revenue to slide gradually downward for nearly a decade, the smaller Monster Beverage is projecting dynamism, even if there are a few speed bumps along the way. In the short term, ashortage of aluminum cans reduced Monster's Q1 2021 salesbelow forecasted levels, but during the June 15 shareholder meeting, executive comments during the question-and-answer session revealed a slowdown in the seltzer category freed up can supplies to instead be used for energy drinks, and that significant supply from China and elsewhere in Asia should become available to Monster's North American and European operations starting in July.</p><p><blockquote>巨头可口可乐似乎全神贯注于内部重组，以至于近十年来其收入逐渐下滑，而规模较小的怪物饮料则展现出活力，即使一路上有一些减速带。短期内，铝罐短缺导致Monster 2021年第一季度的销售额低于预期水平，但在6月15日的股东大会上，高管在问答环节的评论显示，苏打水类别的放缓释放了罐头供应，转而用于能量饮料，从7月份开始，Monster的北美和欧洲业务将获得来自中国和亚洲其他地区的大量供应。</blockquote></p><p> Monster's sales have increased strongly in recent years, including the early stages of the COVID-19 pandemic. Its Q1 2021 sales jumped to $1.24 billion, beating both Q1 2020's $1.06 billion and the pre-pandemic Q1 2019 revenue of $946 million, showing the gains aren't just an artifact of a rebound from coronavirus lows. First-quarter revenue rose by 11.2% year over year in 2019, 9.9% in 2020, and 17.1% in 2021, showing ongoing momentum across multiple years.</p><p><blockquote>Monster的销售额近年来强劲增长，包括COVID-19大流行的早期阶段。其2021年第一季度的销售额跃升至12.4亿美元，超过了2020年第一季度的10.6亿美元和大流行前2019年第一季度的9.46亿美元，这表明这一增长不仅仅是从冠状病毒低点反弹的产物。2019年第一季度收入同比增长11.2%，2020年增长9.9%，2021年增长17.1%，显示出多年来的持续势头。</blockquote></p><p> At the bottom line, Q1 adjusted earnings per share (EPS) of $0.59 jumped 14.2% year over year from 2020's $0.52 EPS. Q1 2019 EPS amounted to $0.48, so once again, Monster is outperforming a successful pre-pandemic year with 2021's first few months, too.</p><p><blockquote>从利润来看，第一季度调整后每股收益(EPS)为0.59美元，较2020年的0.52美元同比增长14.2%。2019年第一季度每股收益为0.48美元，因此Monster在2021年前几个月的表现再次优于大流行前的一年。</blockquote></p><p></p><p> While market share has declined slightly in a few markets where new COVID-19 lockdowns were recently rolled out, such as India and Australia, Monster's executives also reported during the June 15 Annual Meeting of Shareholders that the company has seen strong market share gains in South American countries such as Argentina and Chile, Asian nations like South Korea and Japan, and several European countries.</p><p><blockquote>虽然在印度和澳大利亚等一些最近推出新的COVID-19封锁措施的市场份额略有下降，但Monster的高管还在6月15日的年度股东大会上报告称，该公司在阿根廷和智利等南美国家、韩国和日本等亚洲国家以及几个欧洲国家的市场份额强劲增长。</blockquote></p><p> With a strong handle on capital expenditures (CAPEX) and a balance sheet largely free of long-term debt, Monster's net income margin has risen higher than 30%. The company has also built up nearly $2.2 billion in cash, which, given its low expenses outside the temporary issue of aluminum can supply, positions it for several possible initiatives, including stock buybacks improving the value of investors' holdings, acquisitions, new product launches, and so on.</p><p><blockquote>凭借对资本支出(CAPEX)的强有力控制以及基本没有长期债务的资产负债表，Monster的净利润率已升至30%以上。该公司还积累了近22亿美元的现金，鉴于其在临时发行铝罐供应之外的费用较低，这使其能够采取多项可能的举措，包括股票回购以提高投资者持股价值、收购、新产品发布，等等。</blockquote></p><p> Coca-Cola versus Monster: Which is the better choice?</p><p><blockquote>可口可乐与怪物：哪个是更好的选择？</blockquote></p><p> Both Coca-Cola and Monster are solid companies to have in your portfolio, with Coke offering excellent dividends and Monster keeping up steady, generally double-digit percentage year-over-year growth in the popular, and expanding, energy drink category. Ideally, if you'reinvesting in beverage stocks,&nbsp;you'd want to have shares of both, and add to your stake as opportunity allows.</p><p><blockquote>可口可乐和Monster都是您投资组合中值得信赖的公司，可口可乐提供丰厚的股息，而Monster在流行且不断扩大的能量饮料类别中保持稳定、通常为两位数的同比增长。理想情况下，如果你对饮料股票进行再投资，你会希望拥有这两只股票的股票，并在机会允许的情况下增加你的股份。</blockquote></p><p> If you need to choose one or the other, however, Monster might be a slightly better pick. The outcome of Coca-Cola's long, drawn-out internal restructuring plan remains unknown, especially in light of the failure of Coke Energy to make positive inroads in one of the modern market's prospering categories. Monster, on the other hand, is growing its top and bottom lines right now, and powered robustly through COVID-19 with little loss of momentum.</p><p><blockquote>然而，如果你需要选择一个或另一个，怪物可能是一个稍微好一点的选择。可口可乐旷日持久的内部重组计划的结果仍然未知，特别是考虑到可口可乐能源未能在现代市场的一个繁荣类别中取得积极进展。另一方面，Monster目前正在增长其营收和利润，并且通过COVID-19强劲增长，几乎没有失去动力。</blockquote></p><p> Finally, if the vague rumors eventually prove correct and Coca-Cola (already a 19% stakeholder in Monster) acquires the energy drink maker outright, the company's energy beverage success will likely transfer over to Coca-Cola, bringing Monster's vigorous growth and Coca-Cola's massive reach and resources together into a single entity likely to be rewarding for shareholders in either enterprise.</p><p><blockquote>最后，如果模糊的谣言最终被证明是正确的，可口可乐（已经是Monster 19%的股东）彻底收购了这家能量饮料制造商，该公司在能量饮料方面的成功可能会转移到可口可乐身上，从而带来Monster的强劲增长和可口可乐的巨大影响力和资源汇集成一个实体，这可能会给两家企业的股东带来回报。</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>Which of These 2 Beverage Stocks Is Primed for Bigger Growth?<blockquote>这两只饮料股中哪一只有望实现更大的增长？</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\">\nWhich of These 2 Beverage Stocks Is Primed for Bigger Growth?<blockquote>这两只饮料股中哪一只有望实现更大的增长？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">fool</strong><span class=\"h-time small\">2021-06-22 14:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summer warmth returning across the northern hemisphere has consumers' increasing thirst for a cool, refreshing beverage. Add to that a ramp-up in demand from foodservice specialists like restaurants seeing an easing or elimination of many stringent coronavirus-related lockdowns, and you have beverage stocks like&nbsp;<b>Coca-Cola</b>(NYSE:KO)and&nbsp;<b>Monster Beverage</b>(NASDAQ:MNST)expecting a boost in revenue for the rest of the year.</p><p><blockquote>北半球夏季温暖回归，消费者对清凉饮料的渴望日益增加。除此之外，餐馆等餐饮服务专家的需求也在增加，许多与冠状病毒相关的严格封锁措施得到了放松或取消，而且还有饮料股，例如<b>可口可乐</b>（纽约证券交易所代码：KO）和<b>怪物饮料</b>（纳斯达克：MNST）预计今年剩余时间的收入将有所增长。</blockquote></p><p> While at first glance the beverage giant Coca-Cola appears the clear winner between these two stocks, there are some reasons you might want to consider the plucky energy drink maker as a potential addition to your stock holdings, too.</p><p><blockquote>虽然乍一看，饮料巨头可口可乐似乎是这两只股票之间的明显赢家，但有一些原因您可能也想将这家勇敢的能量饮料制造商视为您股票持有的潜在补充。</blockquote></p><p> 1. Coca-Cola: not currently focused on growth</p><p><blockquote>1、可口可乐：目前不专注于增长</blockquote></p><p> A titanic enterprise with quarterly revenue in the billions and a presence in nearly every country on Earth, Coca-Cola is a solid business that weathered the pandemic largely intact. Its stock price fell alongside other stocks this past year, but it continues to churn out fizzy beverages and held a 43.7% soft drink market share in the U.S. in 2019, according to Statista.</p><p><blockquote>可口可乐是一家季度收入数十亿美元、业务遍及地球上几乎每个国家的大型企业，是一家稳健的企业，在疫情期间基本完好无损。根据Statista的数据，去年其股价与其他股票一起下跌，但该公司继续生产碳酸饮料，并在2019年占据美国软饮料市场43.7%的份额。</blockquote></p><p> Coca-Cola's share price has basically been flat since the start of the year. While it has risen roughly 23.4% over the past five years, the<b>S&amp;P 500</b>has soared about 107% over the same period.</p><p><blockquote>可口可乐的股价自年初以来基本持平。虽然过去五年增长了约23.4%，但<b>标普500</b>同期飙升了约107%。</blockquote></p><p> There are many reasons for Coca-Cola's relatively sluggish growth, including the maturity of many of its markets. Management has made some efforts to account for this, initiating a lengthy process of streamlining its operations and chopping out the deadwood, but revenue has declined annually since 2012 (with the exception of positive growth in 2019). COVID-19 definitely had an effect on revenue, but it is bouncing back from the 2020 trough. Even here, though, the rebound is modest during the first quarter of 2021, gaining 4.9% year over year.</p><p><blockquote>可口可乐增长相对缓慢的原因有很多，包括其许多市场的成熟。管理层为此做出了一些努力，启动了精简运营和砍掉朽木的漫长过程，但自2012年以来，收入逐年下降（2019年实现正增长除外）。COVID-19肯定对收入产生了影响，但它正在从2020年的低谷中反弹。不过，即使在这里，2021年第一季度的反弹也是温和的，同比增长4.9%。</blockquote></p><p> The relative stability of Coca-Cola's earnings per share (EPS) despite the steadily lessening revenue is a barometer of the company's success at controlling costs while making its operations leaner and more efficient. Beverage Daily noted in February 2021 the company has approximately halved its number of brands, shutting down some 200 \"zombie brands\" so it can focus resources on promoting and improving the remaining 200 \"master brands.\"</p><p><blockquote>尽管收入稳步下降，但可口可乐每股收益（EPS）相对稳定，这是该公司在控制成本同时使运营更加精简和高效方面取得成功的晴雨表。《饮料日报》在2021年2月指出，该公司已将品牌数量减少了大约一半，关闭了约200个“僵尸品牌”，以便将资源集中在推广和改善其余200个“主品牌”上。</blockquote></p><p> CEO James Quincey told Beverage Daily that Coke's strategy aims at \"finding a way to be able to identify the biggest bets within the innovation pipeline.\" Quincey listed two major initiatives for 2021 -- the introduction of Topo Chico hard seltzer and Coke Energy energy drinks -- but Coke Energy was discontinued in mid-May.&nbsp;Energy drinks are a popular category, with estimates projecting a 7% compound annual growth rate (CAGR) through 2025. The total energy drink market was worth more than $57 billion in 2020, and Food Navigator USA cites Beverage Digest figures indicating Coke Energy only accounted for 0.7% market share in 2020, compared to Monster Beverage's 15% share.</p><p><blockquote>首席执行官詹姆斯·昆西(James Quincey)告诉《饮料日报》，可口可乐的战略旨在“找到一种方法，能够确定创新管道中最大的赌注”。Quincey列出了2021年的两项主要举措——推出Topo Chico hard seltzer和Coke Energy能量饮料——但Coke Energy已于5月中旬停产。能量饮料是一个受欢迎的类别，预计到2025年复合年增长率(CAGR)为7%。2020年，能量饮料市场总额超过570亿美元，Food Navigator USA引用Beverage Digest的数据显示，Coke Energy在2020年仅占0.7%的市场份额，而Monster Beverage的份额为15%。</blockquote></p><p> One strength that Coca-Cola enjoys that Monster Beverage hasn't developed yet is a strong dividend. Coke has earned its status as aDividend King, with over a half-century of reliable yearly dividend growth, and itsyield frequently topping 3%.&nbsp;Monster doesn't even have a dividend, let alone one paid and increased steadily for 59 years.</p><p><blockquote>可口可乐享有而Monster Beverage尚未开发的一项优势是强劲的股息。可口可乐凭借半个多世纪以来可靠的年度股息增长，赢得了股息之王的地位，其股息率经常超过3%。Monster甚至没有股息，更不用说支付并稳定增长了59年。</blockquote></p><p> 2. Monster: the high-growth energy drink dynamo</p><p><blockquote>2.怪兽：高增长的能量饮料发电机</blockquote></p><p> Where giant Coca-Cola seems preoccupied with internal reshuffling to the point of allowing its revenue to slide gradually downward for nearly a decade, the smaller Monster Beverage is projecting dynamism, even if there are a few speed bumps along the way. In the short term, ashortage of aluminum cans reduced Monster's Q1 2021 salesbelow forecasted levels, but during the June 15 shareholder meeting, executive comments during the question-and-answer session revealed a slowdown in the seltzer category freed up can supplies to instead be used for energy drinks, and that significant supply from China and elsewhere in Asia should become available to Monster's North American and European operations starting in July.</p><p><blockquote>巨头可口可乐似乎全神贯注于内部重组，以至于近十年来其收入逐渐下滑，而规模较小的怪物饮料则展现出活力，即使一路上有一些减速带。短期内，铝罐短缺导致Monster 2021年第一季度的销售额低于预期水平，但在6月15日的股东大会上，高管在问答环节的评论显示，苏打水类别的放缓释放了罐头供应，转而用于能量饮料，从7月份开始，Monster的北美和欧洲业务将获得来自中国和亚洲其他地区的大量供应。</blockquote></p><p> Monster's sales have increased strongly in recent years, including the early stages of the COVID-19 pandemic. Its Q1 2021 sales jumped to $1.24 billion, beating both Q1 2020's $1.06 billion and the pre-pandemic Q1 2019 revenue of $946 million, showing the gains aren't just an artifact of a rebound from coronavirus lows. First-quarter revenue rose by 11.2% year over year in 2019, 9.9% in 2020, and 17.1% in 2021, showing ongoing momentum across multiple years.</p><p><blockquote>Monster的销售额近年来强劲增长，包括COVID-19大流行的早期阶段。其2021年第一季度的销售额跃升至12.4亿美元，超过了2020年第一季度的10.6亿美元和大流行前2019年第一季度的9.46亿美元，这表明这一增长不仅仅是从冠状病毒低点反弹的产物。2019年第一季度收入同比增长11.2%，2020年增长9.9%，2021年增长17.1%，显示出多年来的持续势头。</blockquote></p><p> At the bottom line, Q1 adjusted earnings per share (EPS) of $0.59 jumped 14.2% year over year from 2020's $0.52 EPS. Q1 2019 EPS amounted to $0.48, so once again, Monster is outperforming a successful pre-pandemic year with 2021's first few months, too.</p><p><blockquote>从利润来看，第一季度调整后每股收益(EPS)为0.59美元，较2020年的0.52美元同比增长14.2%。2019年第一季度每股收益为0.48美元，因此Monster在2021年前几个月的表现再次优于大流行前的一年。</blockquote></p><p></p><p> While market share has declined slightly in a few markets where new COVID-19 lockdowns were recently rolled out, such as India and Australia, Monster's executives also reported during the June 15 Annual Meeting of Shareholders that the company has seen strong market share gains in South American countries such as Argentina and Chile, Asian nations like South Korea and Japan, and several European countries.</p><p><blockquote>虽然在印度和澳大利亚等一些最近推出新的COVID-19封锁措施的市场份额略有下降，但Monster的高管还在6月15日的年度股东大会上报告称，该公司在阿根廷和智利等南美国家、韩国和日本等亚洲国家以及几个欧洲国家的市场份额强劲增长。</blockquote></p><p> With a strong handle on capital expenditures (CAPEX) and a balance sheet largely free of long-term debt, Monster's net income margin has risen higher than 30%. The company has also built up nearly $2.2 billion in cash, which, given its low expenses outside the temporary issue of aluminum can supply, positions it for several possible initiatives, including stock buybacks improving the value of investors' holdings, acquisitions, new product launches, and so on.</p><p><blockquote>凭借对资本支出(CAPEX)的强有力控制以及基本没有长期债务的资产负债表，Monster的净利润率已升至30%以上。该公司还积累了近22亿美元的现金，鉴于其在临时发行铝罐供应之外的费用较低，这使其能够采取多项可能的举措，包括股票回购以提高投资者持股价值、收购、新产品发布，等等。</blockquote></p><p> Coca-Cola versus Monster: Which is the better choice?</p><p><blockquote>可口可乐与怪物：哪个是更好的选择？</blockquote></p><p> Both Coca-Cola and Monster are solid companies to have in your portfolio, with Coke offering excellent dividends and Monster keeping up steady, generally double-digit percentage year-over-year growth in the popular, and expanding, energy drink category. Ideally, if you'reinvesting in beverage stocks,&nbsp;you'd want to have shares of both, and add to your stake as opportunity allows.</p><p><blockquote>可口可乐和Monster都是您投资组合中值得信赖的公司，可口可乐提供丰厚的股息，而Monster在流行且不断扩大的能量饮料类别中保持稳定、通常为两位数的同比增长。理想情况下，如果你对饮料股票进行再投资，你会希望拥有这两只股票的股票，并在机会允许的情况下增加你的股份。</blockquote></p><p> If you need to choose one or the other, however, Monster might be a slightly better pick. The outcome of Coca-Cola's long, drawn-out internal restructuring plan remains unknown, especially in light of the failure of Coke Energy to make positive inroads in one of the modern market's prospering categories. Monster, on the other hand, is growing its top and bottom lines right now, and powered robustly through COVID-19 with little loss of momentum.</p><p><blockquote>然而，如果你需要选择一个或另一个，怪物可能是一个稍微好一点的选择。可口可乐旷日持久的内部重组计划的结果仍然未知，特别是考虑到可口可乐能源未能在现代市场的一个繁荣类别中取得积极进展。另一方面，Monster目前正在增长其营收和利润，并且通过COVID-19强劲增长，几乎没有失去动力。</blockquote></p><p> Finally, if the vague rumors eventually prove correct and Coca-Cola (already a 19% stakeholder in Monster) acquires the energy drink maker outright, the company's energy beverage success will likely transfer over to Coca-Cola, bringing Monster's vigorous growth and Coca-Cola's massive reach and resources together into a single entity likely to be rewarding for shareholders in either enterprise.</p><p><blockquote>最后，如果模糊的谣言最终被证明是正确的，可口可乐（已经是Monster 19%的股东）彻底收购了这家能量饮料制造商，该公司在能量饮料方面的成功可能会转移到可口可乐身上，从而带来Monster的强劲增长和可口可乐的巨大影响力和资源汇集成一个实体，这可能会给两家企业的股东带来回报。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/06/21/which-beverage-stocks-primed-for-bigger-growth/\">fool</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":{"MNST":"怪物饮料","KO":"可口可乐"},"source_url":"https://www.fool.com/investing/2021/06/21/which-beverage-stocks-primed-for-bigger-growth/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117967474","content_text":"Summer warmth returning across the northern hemisphere has consumers' increasing thirst for a cool, refreshing beverage. Add to that a ramp-up in demand from foodservice specialists like restaurants seeing an easing or elimination of many stringent coronavirus-related lockdowns, and you have beverage stocks like Coca-Cola(NYSE:KO)and Monster Beverage(NASDAQ:MNST)expecting a boost in revenue for the rest of the year.\nWhile at first glance the beverage giant Coca-Cola appears the clear winner between these two stocks, there are some reasons you might want to consider the plucky energy drink maker as a potential addition to your stock holdings, too.\n1. Coca-Cola: not currently focused on growth\nA titanic enterprise with quarterly revenue in the billions and a presence in nearly every country on Earth, Coca-Cola is a solid business that weathered the pandemic largely intact. Its stock price fell alongside other stocks this past year, but it continues to churn out fizzy beverages and held a 43.7% soft drink market share in the U.S. in 2019, according to Statista.\nCoca-Cola's share price has basically been flat since the start of the year. While it has risen roughly 23.4% over the past five years, theS&P 500has soared about 107% over the same period.\nThere are many reasons for Coca-Cola's relatively sluggish growth, including the maturity of many of its markets. Management has made some efforts to account for this, initiating a lengthy process of streamlining its operations and chopping out the deadwood, but revenue has declined annually since 2012 (with the exception of positive growth in 2019). COVID-19 definitely had an effect on revenue, but it is bouncing back from the 2020 trough. Even here, though, the rebound is modest during the first quarter of 2021, gaining 4.9% year over year.\nThe relative stability of Coca-Cola's earnings per share (EPS) despite the steadily lessening revenue is a barometer of the company's success at controlling costs while making its operations leaner and more efficient. Beverage Daily noted in February 2021 the company has approximately halved its number of brands, shutting down some 200 \"zombie brands\" so it can focus resources on promoting and improving the remaining 200 \"master brands.\"\nCEO James Quincey told Beverage Daily that Coke's strategy aims at \"finding a way to be able to identify the biggest bets within the innovation pipeline.\" Quincey listed two major initiatives for 2021 -- the introduction of Topo Chico hard seltzer and Coke Energy energy drinks -- but Coke Energy was discontinued in mid-May. Energy drinks are a popular category, with estimates projecting a 7% compound annual growth rate (CAGR) through 2025. The total energy drink market was worth more than $57 billion in 2020, and Food Navigator USA cites Beverage Digest figures indicating Coke Energy only accounted for 0.7% market share in 2020, compared to Monster Beverage's 15% share.\nOne strength that Coca-Cola enjoys that Monster Beverage hasn't developed yet is a strong dividend. Coke has earned its status as aDividend King, with over a half-century of reliable yearly dividend growth, and itsyield frequently topping 3%. Monster doesn't even have a dividend, let alone one paid and increased steadily for 59 years.\n2. Monster: the high-growth energy drink dynamo\nWhere giant Coca-Cola seems preoccupied with internal reshuffling to the point of allowing its revenue to slide gradually downward for nearly a decade, the smaller Monster Beverage is projecting dynamism, even if there are a few speed bumps along the way. In the short term, ashortage of aluminum cans reduced Monster's Q1 2021 salesbelow forecasted levels, but during the June 15 shareholder meeting, executive comments during the question-and-answer session revealed a slowdown in the seltzer category freed up can supplies to instead be used for energy drinks, and that significant supply from China and elsewhere in Asia should become available to Monster's North American and European operations starting in July.\nMonster's sales have increased strongly in recent years, including the early stages of the COVID-19 pandemic. Its Q1 2021 sales jumped to $1.24 billion, beating both Q1 2020's $1.06 billion and the pre-pandemic Q1 2019 revenue of $946 million, showing the gains aren't just an artifact of a rebound from coronavirus lows. First-quarter revenue rose by 11.2% year over year in 2019, 9.9% in 2020, and 17.1% in 2021, showing ongoing momentum across multiple years.\nAt the bottom line, Q1 adjusted earnings per share (EPS) of $0.59 jumped 14.2% year over year from 2020's $0.52 EPS. Q1 2019 EPS amounted to $0.48, so once again, Monster is outperforming a successful pre-pandemic year with 2021's first few months, too.\nWhile market share has declined slightly in a few markets where new COVID-19 lockdowns were recently rolled out, such as India and Australia, Monster's executives also reported during the June 15 Annual Meeting of Shareholders that the company has seen strong market share gains in South American countries such as Argentina and Chile, Asian nations like South Korea and Japan, and several European countries.\nWith a strong handle on capital expenditures (CAPEX) and a balance sheet largely free of long-term debt, Monster's net income margin has risen higher than 30%. The company has also built up nearly $2.2 billion in cash, which, given its low expenses outside the temporary issue of aluminum can supply, positions it for several possible initiatives, including stock buybacks improving the value of investors' holdings, acquisitions, new product launches, and so on.\nCoca-Cola versus Monster: Which is the better choice?\nBoth Coca-Cola and Monster are solid companies to have in your portfolio, with Coke offering excellent dividends and Monster keeping up steady, generally double-digit percentage year-over-year growth in the popular, and expanding, energy drink category. Ideally, if you'reinvesting in beverage stocks, you'd want to have shares of both, and add to your stake as opportunity allows.\nIf you need to choose one or the other, however, Monster might be a slightly better pick. The outcome of Coca-Cola's long, drawn-out internal restructuring plan remains unknown, especially in light of the failure of Coke Energy to make positive inroads in one of the modern market's prospering categories. Monster, on the other hand, is growing its top and bottom lines right now, and powered robustly through COVID-19 with little loss of momentum.\nFinally, if the vague rumors eventually prove correct and Coca-Cola (already a 19% stakeholder in Monster) acquires the energy drink maker outright, the company's energy beverage success will likely transfer over to Coca-Cola, bringing Monster's vigorous growth and Coca-Cola's massive reach and resources together into a single entity likely to be rewarding for shareholders in either enterprise.","news_type":1,"symbols_score_info":{"KO":0.9,"MNST":0.9}},"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193858703,"gmtCreate":1620780884602,"gmtModify":1634196380961,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"In for the long run!!&nbsp;","listText":"In for the long run!!&nbsp;","text":"In for the long run!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/193858703","repostId":"1191876953","repostType":2,"isVote":1,"tweetType":1,"viewCount":259,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377662926,"gmtCreate":1619524532265,"gmtModify":1634212069771,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"Gogogogo","listText":"Gogogogo","text":"Gogogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/377662926","repostId":"1155157199","repostType":4,"repost":{"id":"1155157199","kind":"news","pubTimestamp":1619494851,"share":"https://www.laohu8.com/m/news/1155157199?lang=zh_CN&edition=full","pubTime":"2021-04-27 11:40","market":"us","language":"en","title":"Microsoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155157199","media":"Barrons","summary":"Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.  On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.J.P. Mo","content":"<p>Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.</p><p><blockquote>华尔街预计微软将在周二收盘后公布三月份季度数据时公布强劲的财务业绩。</blockquote></p><p>The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.&nbsp; On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.</p><p><blockquote>分析师普遍预测营收为410亿美元，同比增长17%，每股利润为1.78美元。周一，微软股价创下262.44美元的盘中纪录，距离首次触及2万亿美元估值仅小幅上涨。要实现这一目标，该股需要上涨至264.55美元。</blockquote></p><p>The shares have gained 18% year to date.</p><p><blockquote>今年迄今为止，该股已上涨18%。</blockquote></p><p>Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system.&nbsp;</p><p><blockquote>分析师预计该公司的Azure和Office 365云业务将迎来另一个强劲的季度，并将寻找其企业运营加速增长的迹象。鉴于近期PC购买量大幅增长，Surface硬件（笔记本电脑和白板）的销售可能在本季度强劲，尽管组件短缺可能导致需求未得到满足。个人电脑市场的强劲也预示着Windows操作系统的销售。</blockquote></p><p>Microsoft breaks down its results into&nbsp;three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.</p><p><blockquote>微软将其业绩分为三个部分：生产力和业务流程，其中包括Office 365、Dynamics和LinkedIn；智能云，包括Azure和企业服务器软件；以及更多的个人计算，包括Windows、Xbox、Surface硬件和Bing。</blockquote></p><p>When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.</p><p><blockquote>当微软在1月底公布第二财季业绩时，首席财务官Amy Hood提供了每个部门的收入指引。对于生产力和业务流程，她预计收入为133.5亿至136亿美元。智能云的看涨期权是收入为147亿至149.5亿美元，而她预测更多个人计算的收入为123亿至127亿美元。如果每个部门的收入都处于预测范围的顶部，那么总收入将达到412.5亿美元。</blockquote></p><p>In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.</p><p><blockquote>在研究报告中，几位分析师引用了客户和经销商的积极评论来预测强劲的业绩。</blockquote></p><p>Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.</p><p><blockquote>上周，KeyBanc Capital的Michael Turits重申了对该股的跑赢大盘评级，同时将目标价从280美元上调至295美元。他表示，该公司可能会受益于强劲的IT需求和个人电脑出货量的持续强劲。</blockquote></p><p>“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”</p><p><blockquote>他写道：“我们继续看到微软不断扩大的Azure范围、广泛的企业应用程序创新和积极的捆绑在市场上取得了成功。”“我们采访的几乎所有北美微软分销商/经销商都报告微软渠道收入达到或高于计划。”</blockquote></p><p>J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.</p><p><blockquote>摩根大通分析师Mark Murphy对微软产品经销商进行了新的调查，对前景感到鼓舞。他表示，在企业需求改善的推动下，这些公司的微软商品季度销售额平均比预期高出3.3%。他报告了公司企业产品线的实力，包括Azure、Teams、Office 365和安全产品等领域的增长。Murphy对微软的评级为跑赢大盘，目标股价为245美元。</blockquote></p><p>Wedbush analyst Dan Ives&nbsp;forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.</p><p><blockquote>Wedbush分析师丹·艾夫斯(Dan Ives)预测，在Azure至少增长45%的推动下，这将是“又一个杰作季度”，他认为Azure正在从亚马逊网络服务(Amazon Web Services)手中夺取市场份额。他表示，当前的在家工作环境正在鼓励更多企业采取战略举措，转向基于云的运营，“微软全面展开，Azure增长依然强劲”。他维持跑赢大盘评级，目标股价为300美元。</blockquote></p><p>Citi analyst Tyler Radke&nbsp;last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”&nbsp;</p><p><blockquote>花旗分析师泰勒·拉德克(Tyler Radke)上周重申了对微软股票的买入评级，将目标价从292美元上调至302美元，并在业绩公布前对该股设定了“积极催化剂观察”。他写道，对经销商的调查和渠道检查的结合使他更有信心，微软可以推动所有三个主要业务部门的收入，消费者和企业对个人电脑的需求强劲，服务器软件的强劲升级活动，以及由于“企业消费持续强劲增长”，Azure持续走强。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicrosoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-27 11:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.</p><p><blockquote>华尔街预计微软将在周二收盘后公布三月份季度数据时公布强劲的财务业绩。</blockquote></p><p>The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.&nbsp; On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.</p><p><blockquote>分析师普遍预测营收为410亿美元，同比增长17%，每股利润为1.78美元。周一，微软股价创下262.44美元的盘中纪录，距离首次触及2万亿美元估值仅小幅上涨。要实现这一目标，该股需要上涨至264.55美元。</blockquote></p><p>The shares have gained 18% year to date.</p><p><blockquote>今年迄今为止，该股已上涨18%。</blockquote></p><p>Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system.&nbsp;</p><p><blockquote>分析师预计该公司的Azure和Office 365云业务将迎来另一个强劲的季度，并将寻找其企业运营加速增长的迹象。鉴于近期PC购买量大幅增长，Surface硬件（笔记本电脑和白板）的销售可能在本季度强劲，尽管组件短缺可能导致需求未得到满足。个人电脑市场的强劲也预示着Windows操作系统的销售。</blockquote></p><p>Microsoft breaks down its results into&nbsp;three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.</p><p><blockquote>微软将其业绩分为三个部分：生产力和业务流程，其中包括Office 365、Dynamics和LinkedIn；智能云，包括Azure和企业服务器软件；以及更多的个人计算，包括Windows、Xbox、Surface硬件和Bing。</blockquote></p><p>When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.</p><p><blockquote>当微软在1月底公布第二财季业绩时，首席财务官Amy Hood提供了每个部门的收入指引。对于生产力和业务流程，她预计收入为133.5亿至136亿美元。智能云的看涨期权是收入为147亿至149.5亿美元，而她预测更多个人计算的收入为123亿至127亿美元。如果每个部门的收入都处于预测范围的顶部，那么总收入将达到412.5亿美元。</blockquote></p><p>In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.</p><p><blockquote>在研究报告中，几位分析师引用了客户和经销商的积极评论来预测强劲的业绩。</blockquote></p><p>Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.</p><p><blockquote>上周，KeyBanc Capital的Michael Turits重申了对该股的跑赢大盘评级，同时将目标价从280美元上调至295美元。他表示，该公司可能会受益于强劲的IT需求和个人电脑出货量的持续强劲。</blockquote></p><p>“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”</p><p><blockquote>他写道：“我们继续看到微软不断扩大的Azure范围、广泛的企业应用程序创新和积极的捆绑在市场上取得了成功。”“我们采访的几乎所有北美微软分销商/经销商都报告微软渠道收入达到或高于计划。”</blockquote></p><p>J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.</p><p><blockquote>摩根大通分析师Mark Murphy对微软产品经销商进行了新的调查，对前景感到鼓舞。他表示，在企业需求改善的推动下，这些公司的微软商品季度销售额平均比预期高出3.3%。他报告了公司企业产品线的实力，包括Azure、Teams、Office 365和安全产品等领域的增长。Murphy对微软的评级为跑赢大盘，目标股价为245美元。</blockquote></p><p>Wedbush analyst Dan Ives&nbsp;forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.</p><p><blockquote>Wedbush分析师丹·艾夫斯(Dan Ives)预测，在Azure至少增长45%的推动下，这将是“又一个杰作季度”，他认为Azure正在从亚马逊网络服务(Amazon Web Services)手中夺取市场份额。他表示，当前的在家工作环境正在鼓励更多企业采取战略举措，转向基于云的运营，“微软全面展开，Azure增长依然强劲”。他维持跑赢大盘评级，目标股价为300美元。</blockquote></p><p>Citi analyst Tyler Radke&nbsp;last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”&nbsp;</p><p><blockquote>花旗分析师泰勒·拉德克(Tyler Radke)上周重申了对微软股票的买入评级，将目标价从292美元上调至302美元，并在业绩公布前对该股设定了“积极催化剂观察”。他写道，对经销商的调查和渠道检查的结合使他更有信心，微软可以推动所有三个主要业务部门的收入，消费者和企业对个人电脑的需求强劲，服务器软件的强劲升级活动，以及由于“企业消费持续强劲增长”，Azure持续走强。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/microsoft-nears-2-trillion-market-cap-earnings-are-tuesday-51619457928?mod=hp_DAY_Theme_2_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软"},"source_url":"https://www.barrons.com/articles/microsoft-nears-2-trillion-market-cap-earnings-are-tuesday-51619457928?mod=hp_DAY_Theme_2_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155157199","content_text":"Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.  On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.The shares have gained 18% year to date.Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system. Microsoft breaks down its results into three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.Wedbush analyst Dan Ives forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.Citi analyst Tyler Radke last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355906161,"gmtCreate":1617020995253,"gmtModify":1634523107647,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"So eex","listText":"So eex","text":"So eex","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/355906161","repostId":"1196597601","repostType":2,"isVote":1,"tweetType":1,"viewCount":594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832909645,"gmtCreate":1629552246087,"gmtModify":1631890489596,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"Fanastic","listText":"Fanastic","text":"Fanastic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/832909645","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","kind":"news","pubTimestamp":1629728324,"share":"https://www.laohu8.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严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、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值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，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，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。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>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——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。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈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表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，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，因此长期增长情况更加可预测。</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”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、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表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。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&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro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所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</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>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。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来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</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远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在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 &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</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&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师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，它们的业绩可能会因为在新管理层的领导下而得到提振：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>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</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，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</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，当像高通和英伟达这样的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\">新思科技</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帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</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放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</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，它在供应做到这一点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>供应过剩</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产品，这样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70%的芯片，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>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;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>令人不安的信号</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>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为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&nbsp;(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。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</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>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。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，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</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被压抑的大件商品需求等因素，良好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持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严重。</blockquote></p><p> The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p><p><blockquote>iShares半导体ETF较近期高点下跌超过6%，而标普500、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值得买入？或者这个历史上周期性的行业是否会故技重施，进入持续下跌趋势，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，但如果您喜欢持有多年股票而不是租用几天，那么该集团是值得买入的。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>诚然，这些是投资中最可怕的词语之一。但芯片行业已经发生了如此大的变化，现在确实有所不同——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。我去看看那些。但首先，以下是该组织现在“更安全”的三个主要原因，以及过去几天我与之交谈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表示：“芯片行业的需求总是由产品周期驱动而繁荣和萧条。”<a href=\"https://laohu8.com/S/FBNC\">第一</a>个人电脑，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，因此长期增长情况更加可预测。</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”，从各个角度来看，终端市场需求更加多样化。将远程办公服务视为<a href=\"https://laohu8.com/S/ZM\">Zoom</a>看好该集团的Gabelli Funds投资组合经理兼科技分析师Hendi Susanto指出，在线购物、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表示：“现代数字经济的任何方面都离不开半导体。”“这意味着更多的芯片进入所有领域。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&nbsp;Blair&nbsp;analyst Greg Scolaro.</p><p><blockquote>他不是在开玩笑。William Blair分析师Greg Scolaro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所听到的普遍供应短缺“可能要到明年年底才能得到解决”，他说<a href=\"https://laohu8.com/S/BAC\">美国银行</a>芯片行业分析师Vivek Arya。“这不仅仅是我们的观点，<a href=\"https://laohu8.com/S/AONE.U\">一</a>得到了大多数大客户的确认。”</blockquote></p><p> <b>2. The players have consolidated</b></p><p><blockquote><b>2.玩家已经巩固</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>在生产链的上上下下，从设计到各种类型的设备生产商再到制造，行业参与者已经整合到罗通蒂·评级“赢得”的双头垄断或垄断中。</blockquote></p><p> In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p><p><blockquote>在芯片设计软件中，有Cadence Design Systems和Synopsys。在生产设备方面，公司在极紫外光刻（EUV）领域的ASML等专业领域占据主导地位。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来赢得他们的利基或双头垄断地位。这使得投资者对它们很感兴趣。罗通蒂表示，整合还意味着参与者在定价和产能方面表现得更加理性。</blockquote></p><p> <b>3. Profitability has improved</b></p><p><blockquote><b>3、盈利能力有所提升</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远高于历史水平。“过去几年，芯片制造的经济性有了很大改善，”温伯恩说。现金流或EBITDA利润率现在通常超过30%，而十年前还在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 &amp; Co. “They are not trading at a frothy multiple.”</p><p><blockquote>这对估值有影响。Villere&amp;Co.的投资组合经理Lamar Villere指出，尽管芯片股的交易价格约为市场倍数，但它们看起来很便宜，因为它们是更好的公司。“他们的市盈率并不是泡沫。”</blockquote></p><p> <b>The stocks to buy</b></p><p><blockquote><b>值得购买的股票</b></blockquote></p><p> Here are six names favored by chip experts I recently checked in with.</p><p><blockquote>以下是我最近调查的芯片专家青睐的六个名字。</blockquote></p><p> <b>New management plays</b></p><p><blockquote><b>新的管理策略</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&nbsp;and ON Semiconductor.</p><p><blockquote>尽管Thrivent的高级股票研究分析师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，它们的业绩可能会因为在新管理层的领导下而得到提振：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>两者都具有稳健的盈利能力。高通最近受到了一次性问题的打击，例如德克萨斯州的恶劣天气导致生产中断，但该公司对5G手机趋势有很好的了解。<a href=\"https://laohu8.com/S/ON\">安森美半导体</a>正在从手机扩展到汽车、工业和物联网互联设备领域等新领域。</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，该公司因其卓越的设计能力而从数据中心和游戏设备芯片需求中获得持续增长。</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，当像高通和英伟达这样的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\">新思科技</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帮助芯片创新者为他们的芯片创建蓝图，他挑出了这些名字。“他们不是世界上最快的种植者，但他们有很好的利润率。”他们也主宰着这个空间。</blockquote></p><p> <b>An EUV&nbsp;play</b></p><p><blockquote><b>EUV播放</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放在硅上，台积电和三星等公司转向ASML。它的机器使用微小的光脉冲将芯片设计模板到硅片上，这一过程被称为极紫外光刻。“没有人知道如何做到这一点，”罗通蒂说。</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，它在供应做到这一点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>供应过剩</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产品，这样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70%的芯片，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>这里的结果是，有大量的政府支持来促进制造业——所以会有更多的支持。风险在于未来某个时候供应过剩。这也可能会推动芯片设备的购买，导致未来的平静，这可能会损害设备制造商的销售和利润趋势。</blockquote></p><p> Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;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>令人不安的信号</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>全球采购经理人指数（PMI）在4月份达到顶峰，然后连续三个月减速。与此同时，芯片销售持续增长。在Thrivent跟踪这一指标的Karazeris指出，通常情况下，两者遵循相同的趋势。他将这种差异归因于库存建设，而库存建设的可持续性不如真实的终端市场需求。因此，他将这种背离视为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&nbsp;(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。“这些通常是你在周期顶部而不是底部看到的事情，”卡拉泽里斯说。</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>但全球PMI放缓也有可能更多地反映了芯片短缺，而不是表明短缺并不真实（只是库存增加）。Leuthold经济学家兼策略师吉姆·保尔森(Jim Paulsen)表示：“这种分歧并不一定意味着芯片订单会滚动并死亡。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，由于芯片短缺，而不是潜在需求短缺，它不得不削减产量。</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被压抑的大件商品需求等因素，良好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持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":{"AAPL":"苹果","ASML":"阿斯麦","CDNS":"铿腾电子","SNPS":"新思科技","GOOGL":"谷歌A","NVDA":"英伟达","SSNLF":"三星电子","TSM":"台积电","SOXX":"iShares费城交易所半导体ETF","ON":"安森美半导体","AMZN":"亚马逊","GOOG":"谷歌","QCOM":"高通"},"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":{"AMZN":0.9,"TSM":0.9,"SOXX":0.9,"SNPS":0.9,"ASML":0.9,"QCOM":0.9,"GOOG":0.9,"AAPL":0.9,"ON":0.9,"CDNS":0.9,"GOOGL":0.9,"NVDA":0.9,"SSNLF":0.9}},"isVote":1,"tweetType":1,"viewCount":1348,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168006252,"gmtCreate":1623942610376,"gmtModify":1634025502454,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"Hopefully it continue gg up","listText":"Hopefully it continue gg up","text":"Hopefully it continue gg up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/168006252","repostId":"2144715576","repostType":4,"isVote":1,"tweetType":1,"viewCount":343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194339671,"gmtCreate":1621341183093,"gmtModify":1634192322361,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"Can buy?&nbsp;","listText":"Can buy?&nbsp;","text":"Can buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/194339671","repostId":"2136738931","repostType":4,"repost":{"id":"2136738931","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":1621318800,"share":"https://www.laohu8.com/m/news/2136738931?lang=zh_CN&edition=full","pubTime":"2021-05-18 14:20","market":"hk","language":"en","title":"JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2136738931","media":"Tiger Newspress","summary":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering  to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion  if the deal is priced at the top end.JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics' offering is expected to be the second multibilli","content":"<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</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\">\nJD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-18 14:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02618":"京东物流"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136738931","content_text":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.（Click here To apply for the JD Logistics Shares）JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.","news_type":1,"symbols_score_info":{"02618":0.9}},"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351008734,"gmtCreate":1616543436228,"gmtModify":1634525318182,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"So what hes still earning so much more&nbsp;","listText":"So what hes still earning so much more&nbsp;","text":"So what hes still earning so much more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/351008734","repostId":"1129536243","repostType":4,"repost":{"id":"1129536243","kind":"news","pubTimestamp":1616509898,"share":"https://www.laohu8.com/m/news/1129536243?lang=zh_CN&edition=full","pubTime":"2021-03-23 22:31","market":"us","language":"en","title":"Warren Buffett’s $10 Billion Mistake<blockquote>沃伦·巴菲特100亿美元的错误</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129536243","media":"Barrons","summary":"Berkshire Hathaway CEO Warren Buffett soured on many bank stocks last year. That decision cost Berks","content":"<p>Berkshire Hathaway CEO Warren Buffett soured on many bank stocks last year. That decision cost Berkshire about $10 billion, given the strong rally in the sector in recent months, Barron’s estimates.</p><p><blockquote>伯克希尔·哈撒韦公司首席执行官沃伦·巴菲特去年对许多银行股感到不满。据《巴伦周刊》估计，鉴于该行业近几个月的强劲反弹，这一决定使伯克希尔损失了约100亿美元。</blockquote></p><p> During 2020, Berkshire Hathaway (ticker: BRK.A and BRK.B) sold positions in JPMorgan Chase (JPM), Goldman Sachs Group (GS), PNC Financial Services Group (PNC), and M&amp;T Bank (MTB), while sharply reducing a longstanding holding in Wells Fargo (WFC).</p><p><blockquote>2020年期间，伯克希尔哈撒韦公司（股票代码：BRK.A和BRK.B）出售了摩根大通（JPM）、高盛集团（GS）、PNC金融服务集团（PNC）和M&amp;T银行（MTB）的头寸，同时大幅减少长期持有富国银行（WFC）。</blockquote></p><p> The sales of bank stocks were one of Buffett’s investment miscues during a year of mistakes and missed opportunities. Berkshire also sold about $6 billion of airline stocks near the sector’s low last April. The four major airline stocks formerly held by Berkshire have since roughly doubled.</p><p><blockquote>在一年的错误和错失机会中，出售银行股是巴菲特的投资失误之一。伯克希尔还在去年4月接近该行业低点时出售了约60亿美元的航空股。伯克希尔之前持有的四大航空公司股票此后上涨了大约一倍。</blockquote></p><p> Buffett oversees Berkshire’s $290 billion equity portfolio. Berkshire failed to capitalize on the market turmoil to make any major acquisitions, and the company was a net seller of more than $8 billion of stocks last year.</p><p><blockquote>巴菲特监管着伯克希尔2900亿美元的股票投资组合。伯克希尔未能利用市场动荡进行任何重大收购，该公司去年净卖出了超过80亿美元的股票。</blockquote></p><p> During 2020, Berkshire made sizable investments of $8 billion in&nbsp;Verizon Communications(VZ) and $5 billion in&nbsp;Chevron(CVX). And it bought about $2 billion in three different drug stocks. Only Chevron is showing a notable gain.</p><p><blockquote>2020年，伯克希尔哈撒韦公司对Verizon Communications(VZ)进行了80亿美元的巨额投资，对雪佛龙(CVX)进行了50亿美元的巨额投资。它还购买了大约20亿美元的三只不同的药品股票。只有雪佛龙显示出显着的增长。</blockquote></p><p> Berkshire still has a big holding of more than one billion shares of&nbsp;Bank of America(BAC) worth about $38 billion and smaller holdings in&nbsp;U.S. Bancorp(USB) andBank of New York Mellon(BK). Berkshire owns a large and long-held stake of $21 billion in&nbsp;American Express(AXP).</p><p><blockquote>伯克希尔哈撒韦公司仍持有超过10亿股美国银行(BAC)股票，价值约380亿美元，并在美国持有少量股票。合众银行(USB)和纽约梅隆银行(BK)。伯克希尔哈撒韦公司长期持有美国运通(AXP)价值210亿美元的大量股份。</blockquote></p><p> Before the sales of bank stocks last year, Berkshire was heavily exposed to the sector, holding an interest in all the major U.S. banks, except forCitigroupandMorgan Stanley.Buffett may have felt that Berkshire was too exposed to the sector given the weak economy last year. He had no immediate comment.</p><p><blockquote>在去年出售银行股之前，伯克希尔哈撒韦公司大量涉足该行业，持有除花旗集团和摩根士丹利以外的所有美国主要银行的权益。鉴于去年经济疲软，巴菲特可能认为伯克希尔哈撒韦公司在该行业的风险敞口过大。他没有立即发表评论。</blockquote></p><p> The JPMorgan and Wells Fargo sales are notable because they were the largest positions sold.</p><p><blockquote>摩根大通和富国银行的出售引人注目，因为它们是出售的最大头寸。</blockquote></p><p> Berkshire held about 60 million shares of JPMorgan, worth around $8 billion at the start of 2020, and 345 million shares of Wells Fargo, worth $18 billion.</p><p><blockquote>伯克希尔持有摩根大通约6000万股股票，2020年初价值约80亿美元，持有富国银行3.45亿股股票，价值180亿美元。</blockquote></p><p> The JPMorgan position is gone, having been sold largely in the second and third quarters when the stock averaged less than $100 a share. The shares are now around $150. One of Berkshire’s investment lieutenants, Todd Combs, is on the board of JPMorgan. Combs and Ted Weschler run an estimated total of about 10% of the Berkshire equity portfolio.</p><p><blockquote>摩根大通的头寸已经消失，在第二和第三季度该股平均每股价格低于100美元时，大部分被出售。目前股价约为150美元。伯克希尔的投资副手之一托德·库姆斯是摩根大通的董事会成员。库姆斯和特德·韦施勒估计总共管理着伯克希尔股票投资组合的10%左右。</blockquote></p><p> Berkshire steadily sold down its Wells Fargo stake starting in the second quarter, and held just 52 million shares at year-end 2020. The stock averaged about $26 a share during that period against a recent price of $39. Berkshire had held Wells Fargo for 30 years.</p><p><blockquote>伯克希尔从第二季度开始稳步出售其持有的富国银行股份，截至2020年底仅持有5200万股。在此期间，该股的平均价格约为每股26美元，而最近的价格为39美元。伯克希尔持有富国银行30年。</blockquote></p><p> In February 2019, Buffett&nbsp;explained to CNBC&nbsp;why he liked banks and other financials. “They’re very good investments at sensible prices, based on my thinking. And they’re cheaper than other businesses that are also good businesses by some margin,” he said.</p><p><blockquote>2019年2月，巴菲特向CNBC解释了为什么他喜欢银行和其他金融股。“根据我的想法，它们是非常好的投资，价格合理。而且它们比其他也是好企业的企业便宜一些，”他说。</blockquote></p><p> He was particularly enamored of JPMorgan then, telling CNBC that he had been “dumb” for not buying JPMorgan sooner, given his admiration for CEO Jamie Dimon and the franchise. And he suggested that, considering the bank’s financial performance—it topped rivals with a 17% return on tangible equity in 2018—the shares should trade for at least three times tangible book value, which would put them above $170. Buffett was on the mark then as the stock recently hit a record $161.</p><p><blockquote>当时，他特别迷恋摩根大通，他告诉CNBC，鉴于他对首席执行官杰米·戴蒙(Jamie Dimon)和特许经营权的钦佩，他没有早点收购摩根大通是“愚蠢的”。他建议，考虑到该银行的财务业绩——2018年有形股本回报率为17%，领先于竞争对手——该银行的股价应至少是有形账面价值的三倍，这将使其超过170美元。巴菲特当时说对了，该股最近触及创纪录的161美元。</blockquote></p><p> Unfortunately for Berkshire, it’s not benefiting from that move and those in other bank issues.</p><p><blockquote>不幸的是，对于伯克希尔来说，它并没有从这一举措和其他银行问题中受益。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett’s $10 Billion Mistake<blockquote>沃伦·巴菲特100亿美元的错误</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\">\nWarren Buffett’s $10 Billion Mistake<blockquote>沃伦·巴菲特100亿美元的错误</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-23 22:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Berkshire Hathaway CEO Warren Buffett soured on many bank stocks last year. That decision cost Berkshire about $10 billion, given the strong rally in the sector in recent months, Barron’s estimates.</p><p><blockquote>伯克希尔·哈撒韦公司首席执行官沃伦·巴菲特去年对许多银行股感到不满。据《巴伦周刊》估计，鉴于该行业近几个月的强劲反弹，这一决定使伯克希尔损失了约100亿美元。</blockquote></p><p> During 2020, Berkshire Hathaway (ticker: BRK.A and BRK.B) sold positions in JPMorgan Chase (JPM), Goldman Sachs Group (GS), PNC Financial Services Group (PNC), and M&amp;T Bank (MTB), while sharply reducing a longstanding holding in Wells Fargo (WFC).</p><p><blockquote>2020年期间，伯克希尔哈撒韦公司（股票代码：BRK.A和BRK.B）出售了摩根大通（JPM）、高盛集团（GS）、PNC金融服务集团（PNC）和M&amp;T银行（MTB）的头寸，同时大幅减少长期持有富国银行（WFC）。</blockquote></p><p> The sales of bank stocks were one of Buffett’s investment miscues during a year of mistakes and missed opportunities. Berkshire also sold about $6 billion of airline stocks near the sector’s low last April. The four major airline stocks formerly held by Berkshire have since roughly doubled.</p><p><blockquote>在一年的错误和错失机会中，出售银行股是巴菲特的投资失误之一。伯克希尔还在去年4月接近该行业低点时出售了约60亿美元的航空股。伯克希尔之前持有的四大航空公司股票此后上涨了大约一倍。</blockquote></p><p> Buffett oversees Berkshire’s $290 billion equity portfolio. Berkshire failed to capitalize on the market turmoil to make any major acquisitions, and the company was a net seller of more than $8 billion of stocks last year.</p><p><blockquote>巴菲特监管着伯克希尔2900亿美元的股票投资组合。伯克希尔未能利用市场动荡进行任何重大收购，该公司去年净卖出了超过80亿美元的股票。</blockquote></p><p> During 2020, Berkshire made sizable investments of $8 billion in&nbsp;Verizon Communications(VZ) and $5 billion in&nbsp;Chevron(CVX). And it bought about $2 billion in three different drug stocks. Only Chevron is showing a notable gain.</p><p><blockquote>2020年，伯克希尔哈撒韦公司对Verizon Communications(VZ)进行了80亿美元的巨额投资，对雪佛龙(CVX)进行了50亿美元的巨额投资。它还购买了大约20亿美元的三只不同的药品股票。只有雪佛龙显示出显着的增长。</blockquote></p><p> Berkshire still has a big holding of more than one billion shares of&nbsp;Bank of America(BAC) worth about $38 billion and smaller holdings in&nbsp;U.S. Bancorp(USB) andBank of New York Mellon(BK). Berkshire owns a large and long-held stake of $21 billion in&nbsp;American Express(AXP).</p><p><blockquote>伯克希尔哈撒韦公司仍持有超过10亿股美国银行(BAC)股票，价值约380亿美元，并在美国持有少量股票。合众银行(USB)和纽约梅隆银行(BK)。伯克希尔哈撒韦公司长期持有美国运通(AXP)价值210亿美元的大量股份。</blockquote></p><p> Before the sales of bank stocks last year, Berkshire was heavily exposed to the sector, holding an interest in all the major U.S. banks, except forCitigroupandMorgan Stanley.Buffett may have felt that Berkshire was too exposed to the sector given the weak economy last year. He had no immediate comment.</p><p><blockquote>在去年出售银行股之前，伯克希尔哈撒韦公司大量涉足该行业，持有除花旗集团和摩根士丹利以外的所有美国主要银行的权益。鉴于去年经济疲软，巴菲特可能认为伯克希尔哈撒韦公司在该行业的风险敞口过大。他没有立即发表评论。</blockquote></p><p> The JPMorgan and Wells Fargo sales are notable because they were the largest positions sold.</p><p><blockquote>摩根大通和富国银行的出售引人注目，因为它们是出售的最大头寸。</blockquote></p><p> Berkshire held about 60 million shares of JPMorgan, worth around $8 billion at the start of 2020, and 345 million shares of Wells Fargo, worth $18 billion.</p><p><blockquote>伯克希尔持有摩根大通约6000万股股票，2020年初价值约80亿美元，持有富国银行3.45亿股股票，价值180亿美元。</blockquote></p><p> The JPMorgan position is gone, having been sold largely in the second and third quarters when the stock averaged less than $100 a share. The shares are now around $150. One of Berkshire’s investment lieutenants, Todd Combs, is on the board of JPMorgan. Combs and Ted Weschler run an estimated total of about 10% of the Berkshire equity portfolio.</p><p><blockquote>摩根大通的头寸已经消失，在第二和第三季度该股平均每股价格低于100美元时，大部分被出售。目前股价约为150美元。伯克希尔的投资副手之一托德·库姆斯是摩根大通的董事会成员。库姆斯和特德·韦施勒估计总共管理着伯克希尔股票投资组合的10%左右。</blockquote></p><p> Berkshire steadily sold down its Wells Fargo stake starting in the second quarter, and held just 52 million shares at year-end 2020. The stock averaged about $26 a share during that period against a recent price of $39. Berkshire had held Wells Fargo for 30 years.</p><p><blockquote>伯克希尔从第二季度开始稳步出售其持有的富国银行股份，截至2020年底仅持有5200万股。在此期间，该股的平均价格约为每股26美元，而最近的价格为39美元。伯克希尔持有富国银行30年。</blockquote></p><p> In February 2019, Buffett&nbsp;explained to CNBC&nbsp;why he liked banks and other financials. “They’re very good investments at sensible prices, based on my thinking. And they’re cheaper than other businesses that are also good businesses by some margin,” he said.</p><p><blockquote>2019年2月，巴菲特向CNBC解释了为什么他喜欢银行和其他金融股。“根据我的想法，它们是非常好的投资，价格合理。而且它们比其他也是好企业的企业便宜一些，”他说。</blockquote></p><p> He was particularly enamored of JPMorgan then, telling CNBC that he had been “dumb” for not buying JPMorgan sooner, given his admiration for CEO Jamie Dimon and the franchise. And he suggested that, considering the bank’s financial performance—it topped rivals with a 17% return on tangible equity in 2018—the shares should trade for at least three times tangible book value, which would put them above $170. Buffett was on the mark then as the stock recently hit a record $161.</p><p><blockquote>当时，他特别迷恋摩根大通，他告诉CNBC，鉴于他对首席执行官杰米·戴蒙(Jamie Dimon)和特许经营权的钦佩，他没有早点收购摩根大通是“愚蠢的”。他建议，考虑到该银行的财务业绩——2018年有形股本回报率为17%，领先于竞争对手——该银行的股价应至少是有形账面价值的三倍，这将使其超过170美元。巴菲特当时说对了，该股最近触及创纪录的161美元。</blockquote></p><p> Unfortunately for Berkshire, it’s not benefiting from that move and those in other bank issues.</p><p><blockquote>不幸的是，对于伯克希尔来说，它并没有从这一举措和其他银行问题中受益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/warren-buffetts-berkshire-hathaway-pared-down-its-bank-holdings-that-looks-like-a-10-billion-mistake-51616500847?mod=hp_DAY_Theme_1_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JPM":"摩根大通","GS":"高盛","MTB":"美国制商银行","BRK.A":"伯克希尔","BAC":"美国银行","PNC":"PNC金融","WFC":"富国银行","BRK.B":"伯克希尔B"},"source_url":"https://www.barrons.com/articles/warren-buffetts-berkshire-hathaway-pared-down-its-bank-holdings-that-looks-like-a-10-billion-mistake-51616500847?mod=hp_DAY_Theme_1_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129536243","content_text":"Berkshire Hathaway CEO Warren Buffett soured on many bank stocks last year. That decision cost Berkshire about $10 billion, given the strong rally in the sector in recent months, Barron’s estimates.\nDuring 2020, Berkshire Hathaway (ticker: BRK.A and BRK.B) sold positions in JPMorgan Chase (JPM), Goldman Sachs Group (GS), PNC Financial Services Group (PNC), and M&T Bank (MTB), while sharply reducing a longstanding holding in Wells Fargo (WFC).\nThe sales of bank stocks were one of Buffett’s investment miscues during a year of mistakes and missed opportunities. Berkshire also sold about $6 billion of airline stocks near the sector’s low last April. The four major airline stocks formerly held by Berkshire have since roughly doubled.\nBuffett oversees Berkshire’s $290 billion equity portfolio. Berkshire failed to capitalize on the market turmoil to make any major acquisitions, and the company was a net seller of more than $8 billion of stocks last year.\nDuring 2020, Berkshire made sizable investments of $8 billion in Verizon Communications(VZ) and $5 billion in Chevron(CVX). And it bought about $2 billion in three different drug stocks. Only Chevron is showing a notable gain.\nBerkshire still has a big holding of more than one billion shares of Bank of America(BAC) worth about $38 billion and smaller holdings in U.S. Bancorp(USB) andBank of New York Mellon(BK). Berkshire owns a large and long-held stake of $21 billion in American Express(AXP).\nBefore the sales of bank stocks last year, Berkshire was heavily exposed to the sector, holding an interest in all the major U.S. banks, except forCitigroupandMorgan Stanley.Buffett may have felt that Berkshire was too exposed to the sector given the weak economy last year. He had no immediate comment.\nThe JPMorgan and Wells Fargo sales are notable because they were the largest positions sold.\nBerkshire held about 60 million shares of JPMorgan, worth around $8 billion at the start of 2020, and 345 million shares of Wells Fargo, worth $18 billion.\nThe JPMorgan position is gone, having been sold largely in the second and third quarters when the stock averaged less than $100 a share. The shares are now around $150. One of Berkshire’s investment lieutenants, Todd Combs, is on the board of JPMorgan. Combs and Ted Weschler run an estimated total of about 10% of the Berkshire equity portfolio.\nBerkshire steadily sold down its Wells Fargo stake starting in the second quarter, and held just 52 million shares at year-end 2020. The stock averaged about $26 a share during that period against a recent price of $39. Berkshire had held Wells Fargo for 30 years.\nIn February 2019, Buffett explained to CNBC why he liked banks and other financials. “They’re very good investments at sensible prices, based on my thinking. And they’re cheaper than other businesses that are also good businesses by some margin,” he said.\nHe was particularly enamored of JPMorgan then, telling CNBC that he had been “dumb” for not buying JPMorgan sooner, given his admiration for CEO Jamie Dimon and the franchise. And he suggested that, considering the bank’s financial performance—it topped rivals with a 17% return on tangible equity in 2018—the shares should trade for at least three times tangible book value, which would put them above $170. Buffett was on the mark then as the stock recently hit a record $161.\nUnfortunately for Berkshire, it’s not benefiting from that move and those in other bank issues.","news_type":1,"symbols_score_info":{"MTB":0.9,"BRK.B":0.9,"BAC":0.9,"GS":0.9,"BRK.A":0.9,"WFC":0.9,"PNC":0.9,"JPM":0.9}},"isVote":1,"tweetType":1,"viewCount":311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326897708,"gmtCreate":1615609776704,"gmtModify":1703491605835,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>&nbsp;gogogogo&nbsp;","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>&nbsp;gogogogo&nbsp;","text":"$Tesla Motors(TSLA)$ gogogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/326897708","isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895075982,"gmtCreate":1628697901946,"gmtModify":1631890489619,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"Sign","listText":"Sign","text":"Sign","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/895075982","repostId":"1141858457","repostType":2,"repost":{"id":"1141858457","kind":"news","pubTimestamp":1628693066,"share":"https://www.laohu8.com/m/news/1141858457?lang=zh_CN&edition=full","pubTime":"2021-08-11 22:44","market":"us","language":"en","title":"Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141858457","media":"Benzinga","summary":"The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with","content":"<p><div> The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-...</p><p><blockquote><div>华特·迪士尼公司和《黑寡妇》明星斯嘉丽·约翰逊之间的不和有了新的转折，据报道，该公司取消了之前宣布的两届奥斯卡奖的计划项目...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Disney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDisney Cancels Planned Scarlett Johansson Feature 'Tower Of Terror' In Wake Of Salary Dispute Lawsuit: Report<blockquote>迪士尼因薪资纠纷诉讼取消了计划中的斯嘉丽·约翰逊故事片《恐怖之塔》：报告</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-08-11 22:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-...</p><p><blockquote><div>华特·迪士尼公司和《黑寡妇》明星斯嘉丽·约翰逊之间的不和有了新的转折，据报道，该公司取消了之前宣布的两届奥斯卡奖的计划项目...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit\">Benzinga</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":{"DIS":"迪士尼"},"source_url":"https://www.benzinga.com/news/21/08/22445294/disney-cancels-planned-scarlett-johansson-feature-tower-of-terror-in-wake-of-salary-dispute-lawsuit","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141858457","content_text":"The feud between Walt Disney Co and “Black Widow” star Scarlett Johansson has taken a new twist with the studio reportedly canceling planned projects it previously announced with the two-time Oscar-nominated actress.\nWhat Happened:According to a report on the entertainment siteGiantFreakinRobot.combased on information from “one of our trusted and proven inside sources,” Disney has dropped the “Tower of Terror” project that Johansson was scheduled to star in and produce through her These Pictures company.\n“Tower of Terror” is based on the popular Disney theme park ride.Colliderfirst reported the project had the greenlight in June, with “Toy Story 4” director Josh Cooley at work on a screenplay. The ride inspired a 1997 made-for-television Disney film with Steve Guttenbergand the studio has trying to develop a theatrical feature since 2015.\nWhat Else Happened:Besides giving “Tower of Terror” the kibosh, the studio is also closing the door on any potential future projects with Johansson, whosued Disneyover breach of contract in connection with having her “Black Widow” salary linked to the film’s theatrical release. The studio gave the film a simultaneous theatrical and streaming release, which Johansson said violated her contract and ensured she would be receiving less money for her performance.\nJohansson’s only other 2021 film role will be a voice performance in the animated film “Sing 2” from Comcast Corporation’s Universal Pictures, which is scheduled for a December release. She is in pre-production as star and producer on the science-fiction drama “Bride,” which will be released by A24 and Apple Inc. .\nIn early 2020, Johansson and Chris Evans were cited in multiple entertainment media sources as being in talks to star in a remake of the musical “Little Shop of Horrors” for the AT&T subsidiary Warner Bros. However, Evans told an interviewer in March the project has been put on indefinite hold because the projected film budget became too large.","news_type":1,"symbols_score_info":{"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":2126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178155694,"gmtCreate":1626793485218,"gmtModify":1631893597949,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"Woah","listText":"Woah","text":"Woah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/178155694","repostId":"1182166123","repostType":2,"repost":{"id":"1182166123","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":1626789320,"share":"https://www.laohu8.com/m/news/1182166123?lang=zh_CN&edition=full","pubTime":"2021-07-20 21:55","market":"us","language":"en","title":"Virgin Galactic fell over 7% in morning trading<blockquote>维珍银河早盘跌超7%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182166123","media":"Tiger Newspress","summary":"(July 20) Virgin Galactic fell over 7% in morning trading. Minutes ago, Jeff Bezos reaches space on ","content":"<p>(July 20)&nbsp;<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a> fell over 7% in morning trading.&nbsp;Minutes ago, Jeff Bezos reaches space on Blue Origin’s first crewed launch</p><p><blockquote>（7月20日）<a href=\"https://laohu8.com/S/SPCE\">维珍银河</a>早盘跌超7%。几分钟前，杰夫·贝索斯乘坐蓝色起源首次载人发射抵达太空</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08838544d173bf3e12d08989cc775e1\" tg-width=\"709\" tg-height=\"547\" referrerpolicy=\"no-referrer\"></p><p><blockquote></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>Virgin Galactic fell over 7% in morning trading<blockquote>维珍银河早盘跌超7%</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\">\nVirgin Galactic fell over 7% in morning trading<blockquote>维珍银河早盘跌超7%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-07-20 21:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(July 20)&nbsp;<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a> fell over 7% in morning trading.&nbsp;Minutes ago, Jeff Bezos reaches space on Blue Origin’s first crewed launch</p><p><blockquote>（7月20日）<a href=\"https://laohu8.com/S/SPCE\">维珍银河</a>早盘跌超7%。几分钟前，杰夫·贝索斯乘坐蓝色起源首次载人发射抵达太空</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e08838544d173bf3e12d08989cc775e1\" tg-width=\"709\" tg-height=\"547\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182166123","content_text":"(July 20) Virgin Galactic fell over 7% in morning trading. Minutes ago, Jeff Bezos reaches space on Blue Origin’s first crewed launch","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":602,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123330165,"gmtCreate":1624408496857,"gmtModify":1634006612536,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"🎉🎉🎉 To the moon","listText":"🎉🎉🎉 To the moon","text":"🎉🎉🎉 To the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/123330165","repostId":"2145066828","repostType":4,"isVote":1,"tweetType":1,"viewCount":431,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191004125,"gmtCreate":1620826215467,"gmtModify":1634196041455,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"Me likey","listText":"Me likey","text":"Me likey","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/191004125","repostId":"1146303370","repostType":4,"isVote":1,"tweetType":1,"viewCount":451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376015091,"gmtCreate":1619069257613,"gmtModify":1634288771970,"author":{"id":"3564727225062351","authorId":"3564727225062351","name":"jhhh","avatar":"https://static.tigerbbs.com/f4f3f7b72783725da207a373581e5430","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564727225062351","idStr":"3564727225062351"},"themes":[],"htmlText":"Shopee!!&nbsp;","listText":"Shopee!!&nbsp;","text":"Shopee!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/376015091","repostId":"1181300700","repostType":4,"isVote":1,"tweetType":1,"viewCount":345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}