ZeeJay的个人主页 - 老虎社区

ZeeJay

ZeeJay

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2021-11-12

[Smile]

外媒头条：市值突破千亿！Rivian上市次日再度飙升

2021-11-06

[Miser]

US IPO Week Ahead: The IPO market quietly revs its engine in an 11 IPO week<blockquote>美国IPO周：IPO市场在11周IPO中悄然加速</blockquote>

2021-11-03

🤧

抱歉，原内容已删除

2021-09-03

Apple performces has already plateaued in recents years, so unless some new big thing can reignite sales, never say never..

Bear Attack: Could Apple Stock Really Drop 40%?<blockquote>空头攻击：苹果股价真的会下跌40%吗？</blockquote>

2021-07-14

Feels too speculative for comfort..

抱歉，原内容已删除

2021-07-08

Another one riding on a high..

抱歉，原内容已删除

2021-07-08

Too much speculation on healthcare and biotech.. Wait fornsome stability before plunging.

抱歉，原内容已删除

2021-07-06

Risk of Chinese mobile app businesses..

抱歉，原内容已删除

2021-07-03

Hope its real tips..

抱歉，原内容已删除

2021-07-01

Buy buy buy!!

抱歉，原内容已删除

2021-06-29

Robotics with loads of potential ridingnon hype of automation..

抱歉，原内容已删除

2021-06-28

Buy buy buy

抱歉，原内容已删除

2021-06-28

Apple strategies are very short term. Need longer term view for future growth.

抱歉，原内容已删除

2021-06-28

NIO

Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>

2021-06-28

Pure speculation

抱歉，原内容已删除

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05:41","market":"fut","language":"zh","title":"外媒头条：市值突破千亿！Rivian上市次日再度飙升","url":"https://stock-news.laohu8.com/highlight/detail?id=2182606257","media":"新浪财经","summary":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、为什么经济学家低估了美国通胀的爆发力和耐力？\n\n\n2、美债市场遍布地雷 凶险程度达到疫情爆发以来之最\n\n\n3、又一波新冠疫情来袭 美国中西部医院I","content":"<p><b>全球财经媒体昨夜今晨共同关注的头条新闻主要有：</b></p>\n<blockquote>\n <b>1、为什么经济学家低估了美国通胀的爆发力和耐力？</b>\n</blockquote>\n<blockquote>\n <b>2、美债市场遍布地雷 凶险程度达到疫情爆发以来之最</b>\n</blockquote>\n<blockquote>\n <b>3、又一波新冠疫情来袭 美国中西部医院ICU人满为患</b>\n</blockquote>\n<blockquote>\n <b>4、“<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越<a href=\"https://laohu8.com/S/GM\">通用汽车</a></b>\n</blockquote>\n<blockquote>\n <b>5、改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨</b>\n</blockquote>\n<blockquote>\n <b>6、<a href=\"https://laohu8.com/S/DIS\">迪士尼</a>股价创18个月最大跌幅 因流媒体服务业务放缓</b>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/5dbc3fa747a5e8746ac0c3f61f34757e\" tg-width=\"550\" tg-height=\"339\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>为什么经济学家低估了美国通胀的爆发力和耐力？</b></p>\n<p>卷土重来的疫情、脆弱的全球供应网络和刺激政策充实的消费者荷包，共同推动美国物价涨幅远超华尔街和决策者的预期。经济学家也明白了该谦虚的时候要谦虚。</p>\n<p>本周三发布的最新通胀数据显示，10月份消费物价同比上涨6.2%，高于所有预测。以前的物价上涨更多因为经济重新开放，而10月的数据却显示了广泛的通胀压力。</p>\n<p><a href=\"https://laohu8.com/S/DB\">德意志银行</a>首席美国经济学家Matthew Luzzetti说，过去一年，预测通胀“非常具有挑战性，”未来也依然很难。“现在这个时候，谁都别以为自己已经考虑了足够的价格压力，通胀前景的风险仍然偏向上行。”</p>\n<p>自年初以来，经济学家被迫提高了对消费价格涨幅的预测。曾经，通胀被视为某种幻觉，是所谓的基期效应扭曲了数字。但结果证明，这是个更加长期的问题。</p>\n<p><img src=\"https://static.tigerbbs.com/0de9807e60befbc92e727c2b27cd2f47\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>美债市场遍布地雷 凶险程度达到疫情爆发以来之最</b></p>\n<p>美国国债市场过去一个月已成为雷区。</p>\n<p>随着全球债券交易员努力迫使央行出手应对高通胀，债市异常的震荡让他们自己也损失不小。由此仿佛陷入一个恶性循环，不愿入市令债市流动性减少，价格更易大幅波动，这进而又阻止了人们入市的脚步。</p>\n<p>美国政府证券流动性指数显示，美国国债目前的交易状况为2020年3月以来最糟。该指数衡量收益率偏离公允价值模型的程度。至于预期波动率，跟踪美国国债的ICE<a href=\"https://laohu8.com/S/BAC\">美国银行</a>MOVE指数目前接近2020年4月以来最高水平。</p>\n<p>美联储11月3日宣布计划每月减少购买800亿美元美国国债，目标是到明年年中结束购债行动。主席鲍威尔重申该减码时间表对于加息时间没有指示意义，必要情况下联储会果断对“通胀”采取行动。周三美国公布的10月CPI涨幅超过预期，美债市场遭遇2月以来最大抛盘。</p>\n<p><img src=\"https://static.tigerbbs.com/17bb143298d36f6743808a411697ad14\" tg-width=\"550\" tg-height=\"349\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>又一波新冠疫情来袭 美国中西部医院ICU人满为患</b></p>\n<p>美国部分地区的医院已经开始看到新冠疫情秋季浪潮的影响，这个最新迹象表明，即使是在疫苗接种率相对较高的地区，医疗系统仍然面临来自新冠病毒的巨大压力。</p>\n<p>在12个州，Covid-19患者使用的重症监护床位比两周前有所攀升，这些州大多数位于南起亚利桑那州和新墨西哥州，北至明尼苏达州，跨越北美大平原的连续地带上。在西部几个州，许多医生和护士还没有从上一轮感染高峰中缓过气来。</p>\n<p>“我们已经满负荷运转，（直到几天前）都无法让病人转院，” 科罗拉多州偏远的Moffat县农村地区医院Memorial Hospital的手术副总裁Jennifer Riley说。“很难相信疫情已经持续了这么久。”该医院有大约25张床位。</p>\n<p>美国未来数月面临着不确定性，随着传统的冬季病毒传染高峰期来临，德尔塔变异毒株仍在全国范围内蔓延。美国许多地区也经历了异常温暖的秋季，尚未看到当寒冷的天气促使人们更多呆在室内、病毒更容易传播时会发生什么状况。</p>\n<p><img src=\"https://static.tigerbbs.com/1558ffa4bade529e0653078064a84267\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>“特斯拉杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越通用汽车</b></p>\n<p>电动汽车初创公司Rivian股价周四继续攀升，在上市一天后再度大涨约23%。</p>\n<p>这家<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>和福特支持的公司的市值已经超过<a href=\"https://laohu8.com/S/F\">福特汽车</a>和通用汽车，目前超过1000亿美元。不过这仍然远远落后于特斯拉逾1万亿美元的市值。</p>\n<p>截至发稿，通用汽车的市值为888亿美元，而福特的市值为776亿美元。</p>\n<p>Rivian当前的市值意味着亚马逊在该公司20%的股份现价值约210亿美元，而福特持有的12%股份价值超过120亿美元。</p>\n<p>鉴于Rivian还没有成熟的商业模式，并预计三季度营收最高仅为100万美元，因此该股两日的涨幅尤其惊人。该公司在招股说明书中表示，预计当季亏损将高达12.8亿美元。</p>\n<p>Rivian凭借全电动皮卡在市场上击败了竞争对手，但尚未大规模生产其车辆。</p>\n<p><img src=\"https://static.tigerbbs.com/703c35767cc066ea313d043ed964d5ae\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨</b></p>\n<p>曼哈顿的公寓租金正在以创纪录速度上涨，因为准备重返办公室的人们纷纷在曼哈顿寻找条件更好的住所。</p>\n<p>评估公司Miller Samuel Inc．和中介公司Douglas Elliman Real Estate在周四的一份报告中表示，10月份租金中位数达到3382美元，同比上涨18%。这是10年前有数据以来最大同比涨幅；不过，租金中位数绝对值仍低于2019年10月的3409美元。</p>\n<p>Miller Samuel总裁Jonathan Miller说，那些无缘在郊区购房的公寓租户发现，他们可以转而在市内租下更好的房子。还有人则在办公室附近找到房子，为最终不得不回办公室上班做准备。</p>\n<p>“越来越多的人理解了自己想要住的地方和雇主希望他们工作的地方之间的关系，”Miller说。</p>\n<p><img src=\"https://static.tigerbbs.com/4a8b70e558184105f6ced2b1ee484691\" tg-width=\"533\" tg-height=\"300\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>迪士尼股价创18个月最大跌幅 因流媒体服务业务放缓</b></p>\n<p>迪士尼股价创疫情爆发以来最大跌幅，之前该公司报告流媒体用户增长低于预期，引发投资者对连续两年火爆之后增长放缓的担忧。</p>\n<p>迪士尼股价周四早盘一度下跌9.2%，为2020年3月以来最大盘中跌幅。此番下跌导致该公司市值低于竞争对手Netflix&nbsp;Inc．。流媒体的不足只是该公司各业务部门当季普遍令人失望的缩影。</p>\n<p>该公司周三公告称，Disney+在第四财季新增210万用户，其用户总数达到1.181亿。接受彭博调查的分析师预测为1.196亿。这是该服务两年前推出以来的最小季度增幅。</p>\n<p>迪士尼已将这个家庭流媒体产品作为未来几年增长的重点，管理层重申了到2024年拥有2.6亿用户的目标。11月12日是月费8美元的Disney+上线两周年纪念日，该公司正在举行庆祝活动，在全公司范围内推出新电影和促销活动。</p>","source":"sina","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>外媒头条：市值突破千亿！Rivian上市次日再度飙升</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n外媒头条：市值突破千亿！Rivian上市次日再度飙升\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-12 05:41 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/usstock/c/2021-11-12/doc-iktzscyy5039074.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、为什么经济学家低估了美国通胀的爆发力和耐力？\n\n\n2、美债市场遍布地雷 凶险程度达到疫情爆发以来之最\n\n\n3、又一波新冠疫情来袭 美国中西部医院ICU人满为患\n\n\n4、“特斯拉杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越通用汽车\n\n\n5、改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨\n\n\n6、迪士尼股价创18个月最大跌幅...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-11-12/doc-iktzscyy5039074.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/37d8ba54faa1a9d08aed79d6e8240d1f","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","RIVN":"Rivian Automotive, Inc."},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-11-12/doc-iktzscyy5039074.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2182606257","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、为什么经济学家低估了美国通胀的爆发力和耐力？\n\n\n2、美债市场遍布地雷 凶险程度达到疫情爆发以来之最\n\n\n3、又一波新冠疫情来袭 美国中西部医院ICU人满为患\n\n\n4、“特斯拉杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越通用汽车\n\n\n5、改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨\n\n\n6、迪士尼股价创18个月最大跌幅 因流媒体服务业务放缓\n\n\n为什么经济学家低估了美国通胀的爆发力和耐力？\n卷土重来的疫情、脆弱的全球供应网络和刺激政策充实的消费者荷包，共同推动美国物价涨幅远超华尔街和决策者的预期。经济学家也明白了该谦虚的时候要谦虚。\n本周三发布的最新通胀数据显示，10月份消费物价同比上涨6.2%，高于所有预测。以前的物价上涨更多因为经济重新开放，而10月的数据却显示了广泛的通胀压力。\n德意志银行首席美国经济学家Matthew Luzzetti说，过去一年，预测通胀“非常具有挑战性，”未来也依然很难。“现在这个时候，谁都别以为自己已经考虑了足够的价格压力，通胀前景的风险仍然偏向上行。”\n自年初以来，经济学家被迫提高了对消费价格涨幅的预测。曾经，通胀被视为某种幻觉，是所谓的基期效应扭曲了数字。但结果证明，这是个更加长期的问题。\n\n美债市场遍布地雷 凶险程度达到疫情爆发以来之最\n美国国债市场过去一个月已成为雷区。\n随着全球债券交易员努力迫使央行出手应对高通胀，债市异常的震荡让他们自己也损失不小。由此仿佛陷入一个恶性循环，不愿入市令债市流动性减少，价格更易大幅波动，这进而又阻止了人们入市的脚步。\n美国政府证券流动性指数显示，美国国债目前的交易状况为2020年3月以来最糟。该指数衡量收益率偏离公允价值模型的程度。至于预期波动率，跟踪美国国债的ICE美国银行MOVE指数目前接近2020年4月以来最高水平。\n美联储11月3日宣布计划每月减少购买800亿美元美国国债，目标是到明年年中结束购债行动。主席鲍威尔重申该减码时间表对于加息时间没有指示意义，必要情况下联储会果断对“通胀”采取行动。周三美国公布的10月CPI涨幅超过预期，美债市场遭遇2月以来最大抛盘。\n\n又一波新冠疫情来袭 美国中西部医院ICU人满为患\n美国部分地区的医院已经开始看到新冠疫情秋季浪潮的影响，这个最新迹象表明，即使是在疫苗接种率相对较高的地区，医疗系统仍然面临来自新冠病毒的巨大压力。\n在12个州，Covid-19患者使用的重症监护床位比两周前有所攀升，这些州大多数位于南起亚利桑那州和新墨西哥州，北至明尼苏达州，跨越北美大平原的连续地带上。在西部几个州，许多医生和护士还没有从上一轮感染高峰中缓过气来。\n“我们已经满负荷运转，（直到几天前）都无法让病人转院，” 科罗拉多州偏远的Moffat县农村地区医院Memorial Hospital的手术副总裁Jennifer Riley说。“很难相信疫情已经持续了这么久。”该医院有大约25张床位。\n美国未来数月面临着不确定性，随着传统的冬季病毒传染高峰期来临，德尔塔变异毒株仍在全国范围内蔓延。美国许多地区也经历了异常温暖的秋季，尚未看到当寒冷的天气促使人们更多呆在室内、病毒更容易传播时会发生什么状况。\n\n“特斯拉杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越通用汽车\n电动汽车初创公司Rivian股价周四继续攀升，在上市一天后再度大涨约23%。\n这家亚马逊和福特支持的公司的市值已经超过福特汽车和通用汽车，目前超过1000亿美元。不过这仍然远远落后于特斯拉逾1万亿美元的市值。\n截至发稿，通用汽车的市值为888亿美元，而福特的市值为776亿美元。\nRivian当前的市值意味着亚马逊在该公司20%的股份现价值约210亿美元，而福特持有的12%股份价值超过120亿美元。\n鉴于Rivian还没有成熟的商业模式，并预计三季度营收最高仅为100万美元，因此该股两日的涨幅尤其惊人。该公司在招股说明书中表示，预计当季亏损将高达12.8亿美元。\nRivian凭借全电动皮卡在市场上击败了竞争对手，但尚未大规模生产其车辆。\n\n改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨\n曼哈顿的公寓租金正在以创纪录速度上涨，因为准备重返办公室的人们纷纷在曼哈顿寻找条件更好的住所。\n评估公司Miller Samuel Inc．和中介公司Douglas Elliman Real Estate在周四的一份报告中表示，10月份租金中位数达到3382美元，同比上涨18%。这是10年前有数据以来最大同比涨幅；不过，租金中位数绝对值仍低于2019年10月的3409美元。\nMiller Samuel总裁Jonathan Miller说，那些无缘在郊区购房的公寓租户发现，他们可以转而在市内租下更好的房子。还有人则在办公室附近找到房子，为最终不得不回办公室上班做准备。\n“越来越多的人理解了自己想要住的地方和雇主希望他们工作的地方之间的关系，”Miller说。\n\n迪士尼股价创18个月最大跌幅 因流媒体服务业务放缓\n迪士尼股价创疫情爆发以来最大跌幅，之前该公司报告流媒体用户增长低于预期，引发投资者对连续两年火爆之后增长放缓的担忧。\n迪士尼股价周四早盘一度下跌9.2%，为2020年3月以来最大盘中跌幅。此番下跌导致该公司市值低于竞争对手Netflix Inc．。流媒体的不足只是该公司各业务部门当季普遍令人失望的缩影。\n该公司周三公告称，Disney+在第四财季新增210万用户，其用户总数达到1.181亿。接受彭博调查的分析师预测为1.196亿。这是该服务两年前推出以来的最小季度增幅。\n迪士尼已将这个家庭流媒体产品作为未来几年增长的重点，管理层重申了到2024年拥有2.6亿用户的目标。11月12日是月费8美元的Disney+上线两周年纪念日，该公司正在举行庆祝活动，在全公司范围内推出新电影和促销活动。","news_type":1,"symbols_score_info":{"RIVN":0.9,".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2097,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":842248013,"gmtCreate":1636188538148,"gmtModify":1636188538301,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/842248013","repostId":"1176171748","repostType":4,"repost":{"id":"1176171748","kind":"news","pubTimestamp":1636158392,"share":"https://www.laohu8.com/m/news/1176171748?lang=zh_CN&edition=full","pubTime":"2021-11-06 08:26","market":"us","language":"en","title":"US IPO Week Ahead: The IPO market quietly revs its engine in an 11 IPO week<blockquote>美国IPO周：IPO市场在11周IPO中悄然加速</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176171748","media":"renaissancecap...","summary":"The IPO market is expected to stay busy with 11 IPOs schedule to raise $10.2 billion in the week ahe","content":"<p>The IPO market is expected to stay busy with 11 IPOs schedule to raise $10.2 billion in the week ahead.</p><p><blockquote>预计IPO市场将保持繁忙，未来一周将有11起IPO计划筹集102亿美元。</blockquote></p><p> Electric truck developer&nbsp;<b>Rivian Automotive</b>(RIVN) plans to raise $8.0 billion at a $57.1 billion market cap. This founder-led company is developing and manufacturing a portfolio of electric adventure-ready consumer and commercial SUVs, vans, and pickup trucks. Although the company is in very early stages of commercialization, Rivian began its first deliveries in September of 2021 and has an order of 100,000 EDVs from Amazon through 2025.</p><p><blockquote>电动卡车开发商<b>Rivian汽车</b>(RIVN)计划以571亿美元的市值筹集80亿美元。这家创始人领导的公司正在开发和制造一系列电动冒险消费和商用SUV、货车和皮卡车。尽管该公司正处于商业化的早期阶段，但Rivian于2021年9月开始首批交付，并在2025年之前从亚马逊订购了10万辆EDV。</blockquote></p><p> OTC-listed&nbsp;<b>Hertz Global Holdings</b>(HTZ) plans to raise $1.0 billion at a $13.9 billion market cap. The company provides vehicle rental services globally primarily through the Hertz, Dollar, and Thrifty brands. Hertz filed for bankruptcy in May of 2020 and emerged this past June. The company is profitable, and revenue growth accelerated to 34% in the 9mo21.</p><p><blockquote>OTC上市<b>赫兹全球控股公司</b>(HTZ)计划以139亿美元的市值筹集10亿美元。该公司主要通过Hertz、Dollar和Thrifty品牌在全球提供车辆租赁服务。赫兹于2020年5月申请破产，并于今年6月上市。该公司已实现盈利，21年9月收入增长加速至34%。</blockquote></p><p> Outsourced IT services provider&nbsp;<b>CI&amp;T</b>(CINT) plans to raise $350 million at a $2.4 billion market cap. This Brazil-based company provides strategy, design, and software engineering services through a network of over 5,000 employees. Growing and profitable, CI&amp;T’s &nbsp;blue-chip customer base includes Johnson &amp; Johnson, Google, and Itaú Unibanco.</p><p><blockquote>外包IT服务提供商<b>CI&amp;T</b>(CINT)计划以24亿美元的市值筹集3.5亿美元。这家总部位于巴西的公司通过拥有5,000多名员工的网络提供战略、设计和软件工程服务。CI&amp;T的蓝筹客户群不断增长且盈利，包括强生公司、谷歌和ItaúUnibanco。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/EXFY\">Expensify</a></b>(EXFY) plans to raise $234 million at a $2.4 billion market cap. Founder-led Expensify provides a mobile-first expense management platform, primarily helping SMBs simplify the expense approval process from initial receipt scan through next-day reimbursement. Addressing a multibillion-dollar opportunity within US SMBs, Expensify saw robust profitability in the 1H21, but its paid member base remains below pre-COVID levels.</p><p><blockquote><b><a href=\"https://laohu8.com/S/EXFY\">昂贵的</a></b>(EXFY)计划以24亿美元的市值筹集2.34亿美元。创始人领导的Expensify提供了一个移动优先的费用管理平台，主要帮助中小企业简化从初始收据扫描到第二天报销的费用审批流程。Expensify解决了美国中小企业数十亿美元的机会，在2021年上半年实现了强劲的盈利能力，但其付费会员基础仍低于新冠疫情爆发前的水平。</blockquote></p><p> Customer engagement platform&nbsp;<b>Weave Communications</b>(WEAV) plans to raise $133 million at a $1.9 billion market cap. The company provides a customer communication and engagement software platform to SMBs. Fast growing and unprofitable, Weave had more than 21,000 locations under subscription across approximately 20,000 customers in the US and Canada as of 6/30/21.</p><p><blockquote>客户参与平台<b>编织通信</b>(WEAV)计划以19亿美元的市值筹集1.33亿美元。该公司为中小型企业提供客户沟通和参与软件平台。截至2011年6月30日，Weave在美国和加拿大拥有超过21,000个订阅点，约有20,000名客户。</blockquote></p><p> Vaccine biotech&nbsp;<b>Vaxxinity</b>(VAXX) plans to raise $101 million at a $2.1 billion market cap. This Phase 2 biotech is developing vaccines therapies for chronic diseases using synthetic peptides. Vaxxinity’s lead candidate, UB-311, is being developed for the treatment of Alzheimer’s Disease and is scheduled to start a Phase 2b efficacy trial in 2022.</p><p><blockquote>疫苗生物技术<b>疫苗</b>(VAXX)计划以21亿美元的市值筹集1.01亿美元。这家二期生物技术公司正在开发使用合成肽治疗慢性疾病的疫苗。Vaxxinity的主要候选药物UB-311正在开发用于治疗阿尔茨海默病，并计划于2022年开始2b期疗效试验。</blockquote></p><p> Online fashion retailer&nbsp;<b>Lulu’s Fashion Lounge Holdings</b>(LVLU) plans to raise $101 million at a $654 million market cap. Lulu’s sells apparel and accessories primarily to Millennial and Gen Z women. While its business took a hit during the pandemic, the company returned to profitability in the 1H21, and revenue growth accelerated to 24%.</p><p><blockquote>在线时装零售商<b>露露的时尚酒廊控股</b>(LVLU)计划以6.54亿美元的市值筹集1.01亿美元。Lulu’s主要向千禧一代和Z世代女性销售服装和配饰。尽管其业务在疫情期间受到打击，但该公司在2021年上半年恢复盈利，收入增长加速至24%。</blockquote></p><p> Storage cloud platform&nbsp;<b>Backblaze</b>(BLZE) plans to raise $100 million at a $644 million market cap. With over 480,000 customers across 175 countries, Backblaze provides a storage cloud platform to store, use, and protect data. The company has delivered solid growth, and it has maintained profitability on an EBITDA basis.</p><p><blockquote>存储云平台<b>Backblaze</b>(BLZE)计划以6.44亿美元的市值筹集1亿美元。Backblaze在175个国家/地区拥有超过480,000名客户，提供存储、使用和保护数据的存储云平台。该公司实现了稳健增长，并在EBITDA基础上保持了盈利能力。</blockquote></p><p> Texas bank&nbsp;<b>Third Coast Bank</b>(TCBX) plans to raise $75 million at a $317 million market cap. This commercially-focused bank operates 12 branches, seven of which are in the Greater Houston market. As of 6/30/21, Third Coast Bank had total assets of $2.0 billion, total loans of $1.6 billion, total deposits of $1.8 billion, and total shareholders’ equity of $138 million.</p><p><blockquote>德克萨斯银行<b>第三海岸银行</b>(TCBX)计划以3.17亿美元的市值筹集7500万美元。这家以商业为重点的银行经营着12家分行，其中7家位于大休斯顿市场。截至2011年6月30日，第三海岸银行总资产为20亿美元，贷款总额为16亿美元，存款总额为18亿美元，股东权益总额为1.38亿美元。</blockquote></p><p> Laser communications firm&nbsp;<b>Mynaric</b>(MYNA) plans to raise $70 million at a $356 million market cap. Germany-based Mynaric develops and manufactures laser technologies for aerospace communications networks in government and commercial markets. The company is growing but highly unprofitable, with a -258% LTM gross margin.</p><p><blockquote>激光通信公司<b>迈纳里克</b>(MYNA)计划以3.56亿美元的市值筹集7000万美元。总部位于德国的Mynaric为政府和商业市场的航空航天通信网络开发和制造激光技术。该公司正在增长，但非常无利可图，LTM毛利率为-258%。</blockquote></p><p> Turbine system maker&nbsp;<b>FlexEnergy</b>(FLXE) plans to raise $35 million at a $122 million market cap. This technology company designs, manufactures, and sells turbine systems and heat exchangers. FlexEnergy saw revenue shrink in both 2020 and the 1H21.</p><p><blockquote>涡轮机系统制造商<b>灵活能源</b>(FLXE)计划以1.22亿美元的市值筹集3500万美元。这家技术公司设计、制造和销售涡轮机系统和热交换器。FlexEnergy在2020年和2021年上半年的收入均出现萎缩。</blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: The IPO market quietly revs its engine in an 11 IPO week<blockquote>美国IPO周：IPO市场在11周IPO中悄然加速</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\">\nUS IPO Week Ahead: The IPO market quietly revs its engine in an 11 IPO week<blockquote>美国IPO周：IPO市场在11周IPO中悄然加速</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-11-06 08:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The IPO market is expected to stay busy with 11 IPOs schedule to raise $10.2 billion in the week ahead.</p><p><blockquote>预计IPO市场将保持繁忙，未来一周将有11起IPO计划筹集102亿美元。</blockquote></p><p> Electric truck developer&nbsp;<b>Rivian Automotive</b>(RIVN) plans to raise $8.0 billion at a $57.1 billion market cap. This founder-led company is developing and manufacturing a portfolio of electric adventure-ready consumer and commercial SUVs, vans, and pickup trucks. Although the company is in very early stages of commercialization, Rivian began its first deliveries in September of 2021 and has an order of 100,000 EDVs from Amazon through 2025.</p><p><blockquote>电动卡车开发商<b>Rivian汽车</b>(RIVN)计划以571亿美元的市值筹集80亿美元。这家创始人领导的公司正在开发和制造一系列电动冒险消费和商用SUV、货车和皮卡车。尽管该公司正处于商业化的早期阶段，但Rivian于2021年9月开始首批交付，并在2025年之前从亚马逊订购了10万辆EDV。</blockquote></p><p> OTC-listed&nbsp;<b>Hertz Global Holdings</b>(HTZ) plans to raise $1.0 billion at a $13.9 billion market cap. The company provides vehicle rental services globally primarily through the Hertz, Dollar, and Thrifty brands. Hertz filed for bankruptcy in May of 2020 and emerged this past June. The company is profitable, and revenue growth accelerated to 34% in the 9mo21.</p><p><blockquote>OTC上市<b>赫兹全球控股公司</b>(HTZ)计划以139亿美元的市值筹集10亿美元。该公司主要通过Hertz、Dollar和Thrifty品牌在全球提供车辆租赁服务。赫兹于2020年5月申请破产，并于今年6月上市。该公司已实现盈利，21年9月收入增长加速至34%。</blockquote></p><p> Outsourced IT services provider&nbsp;<b>CI&amp;T</b>(CINT) plans to raise $350 million at a $2.4 billion market cap. This Brazil-based company provides strategy, design, and software engineering services through a network of over 5,000 employees. Growing and profitable, CI&amp;T’s &nbsp;blue-chip customer base includes Johnson &amp; Johnson, Google, and Itaú Unibanco.</p><p><blockquote>外包IT服务提供商<b>CI&amp;T</b>(CINT)计划以24亿美元的市值筹集3.5亿美元。这家总部位于巴西的公司通过拥有5,000多名员工的网络提供战略、设计和软件工程服务。CI&amp;T的蓝筹客户群不断增长且盈利，包括强生公司、谷歌和ItaúUnibanco。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/EXFY\">Expensify</a></b>(EXFY) plans to raise $234 million at a $2.4 billion market cap. Founder-led Expensify provides a mobile-first expense management platform, primarily helping SMBs simplify the expense approval process from initial receipt scan through next-day reimbursement. Addressing a multibillion-dollar opportunity within US SMBs, Expensify saw robust profitability in the 1H21, but its paid member base remains below pre-COVID levels.</p><p><blockquote><b><a href=\"https://laohu8.com/S/EXFY\">昂贵的</a></b>(EXFY)计划以24亿美元的市值筹集2.34亿美元。创始人领导的Expensify提供了一个移动优先的费用管理平台，主要帮助中小企业简化从初始收据扫描到第二天报销的费用审批流程。Expensify解决了美国中小企业数十亿美元的机会，在2021年上半年实现了强劲的盈利能力，但其付费会员基础仍低于新冠疫情爆发前的水平。</blockquote></p><p> Customer engagement platform&nbsp;<b>Weave Communications</b>(WEAV) plans to raise $133 million at a $1.9 billion market cap. The company provides a customer communication and engagement software platform to SMBs. Fast growing and unprofitable, Weave had more than 21,000 locations under subscription across approximately 20,000 customers in the US and Canada as of 6/30/21.</p><p><blockquote>客户参与平台<b>编织通信</b>(WEAV)计划以19亿美元的市值筹集1.33亿美元。该公司为中小型企业提供客户沟通和参与软件平台。截至2011年6月30日，Weave在美国和加拿大拥有超过21,000个订阅点，约有20,000名客户。</blockquote></p><p> Vaccine biotech&nbsp;<b>Vaxxinity</b>(VAXX) plans to raise $101 million at a $2.1 billion market cap. This Phase 2 biotech is developing vaccines therapies for chronic diseases using synthetic peptides. Vaxxinity’s lead candidate, UB-311, is being developed for the treatment of Alzheimer’s Disease and is scheduled to start a Phase 2b efficacy trial in 2022.</p><p><blockquote>疫苗生物技术<b>疫苗</b>(VAXX)计划以21亿美元的市值筹集1.01亿美元。这家二期生物技术公司正在开发使用合成肽治疗慢性疾病的疫苗。Vaxxinity的主要候选药物UB-311正在开发用于治疗阿尔茨海默病，并计划于2022年开始2b期疗效试验。</blockquote></p><p> Online fashion retailer&nbsp;<b>Lulu’s Fashion Lounge Holdings</b>(LVLU) plans to raise $101 million at a $654 million market cap. Lulu’s sells apparel and accessories primarily to Millennial and Gen Z women. While its business took a hit during the pandemic, the company returned to profitability in the 1H21, and revenue growth accelerated to 24%.</p><p><blockquote>在线时装零售商<b>露露的时尚酒廊控股</b>(LVLU)计划以6.54亿美元的市值筹集1.01亿美元。Lulu’s主要向千禧一代和Z世代女性销售服装和配饰。尽管其业务在疫情期间受到打击，但该公司在2021年上半年恢复盈利，收入增长加速至24%。</blockquote></p><p> Storage cloud platform&nbsp;<b>Backblaze</b>(BLZE) plans to raise $100 million at a $644 million market cap. With over 480,000 customers across 175 countries, Backblaze provides a storage cloud platform to store, use, and protect data. The company has delivered solid growth, and it has maintained profitability on an EBITDA basis.</p><p><blockquote>存储云平台<b>Backblaze</b>(BLZE)计划以6.44亿美元的市值筹集1亿美元。Backblaze在175个国家/地区拥有超过480,000名客户，提供存储、使用和保护数据的存储云平台。该公司实现了稳健增长，并在EBITDA基础上保持了盈利能力。</blockquote></p><p> Texas bank&nbsp;<b>Third Coast Bank</b>(TCBX) plans to raise $75 million at a $317 million market cap. This commercially-focused bank operates 12 branches, seven of which are in the Greater Houston market. As of 6/30/21, Third Coast Bank had total assets of $2.0 billion, total loans of $1.6 billion, total deposits of $1.8 billion, and total shareholders’ equity of $138 million.</p><p><blockquote>德克萨斯银行<b>第三海岸银行</b>(TCBX)计划以3.17亿美元的市值筹集7500万美元。这家以商业为重点的银行经营着12家分行，其中7家位于大休斯顿市场。截至2011年6月30日，第三海岸银行总资产为20亿美元，贷款总额为16亿美元，存款总额为18亿美元，股东权益总额为1.38亿美元。</blockquote></p><p> Laser communications firm&nbsp;<b>Mynaric</b>(MYNA) plans to raise $70 million at a $356 million market cap. Germany-based Mynaric develops and manufactures laser technologies for aerospace communications networks in government and commercial markets. The company is growing but highly unprofitable, with a -258% LTM gross margin.</p><p><blockquote>激光通信公司<b>迈纳里克</b>(MYNA)计划以3.56亿美元的市值筹集7000万美元。总部位于德国的Mynaric为政府和商业市场的航空航天通信网络开发和制造激光技术。该公司正在增长，但非常无利可图，LTM毛利率为-258%。</blockquote></p><p> Turbine system maker&nbsp;<b>FlexEnergy</b>(FLXE) plans to raise $35 million at a $122 million market cap. This technology company designs, manufactures, and sells turbine systems and heat exchangers. FlexEnergy saw revenue shrink in both 2020 and the 1H21.</p><p><blockquote>涡轮机系统制造商<b>灵活能源</b>(FLXE)计划以1.22亿美元的市值筹集3500万美元。这家技术公司设计、制造和销售涡轮机系统和热交换器。FlexEnergy在2020年和2021年上半年的收入均出现萎缩。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/88289/US-IPO-Week-Ahead-The-IPO-market-quietly-revs-its-engine-in-an-11-IPO-week\">renaissancecap...</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":{"BLZE":"Backblaze, Inc.","EXFY":"Expensify","LVLU":"Lulu's Fashion Lounge Holdings, Inc","HTZ":"赫兹租车","CINT":"CI&T Inc.","TCBX":"Third Coast Bancshares, Inc.","WEAV":"Weave Communications, Inc","VAXX":"Vaxxinity, Inc.","RIVN":"Rivian Automotive, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/88289/US-IPO-Week-Ahead-The-IPO-market-quietly-revs-its-engine-in-an-11-IPO-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176171748","content_text":"The IPO market is expected to stay busy with 11 IPOs schedule to raise $10.2 billion in the week ahead.\nElectric truck developer Rivian Automotive(RIVN) plans to raise $8.0 billion at a $57.1 billion market cap. This founder-led company is developing and manufacturing a portfolio of electric adventure-ready consumer and commercial SUVs, vans, and pickup trucks. Although the company is in very early stages of commercialization, Rivian began its first deliveries in September of 2021 and has an order of 100,000 EDVs from Amazon through 2025.\nOTC-listed Hertz Global Holdings(HTZ) plans to raise $1.0 billion at a $13.9 billion market cap. The company provides vehicle rental services globally primarily through the Hertz, Dollar, and Thrifty brands. Hertz filed for bankruptcy in May of 2020 and emerged this past June. The company is profitable, and revenue growth accelerated to 34% in the 9mo21.\nOutsourced IT services provider CI&T(CINT) plans to raise $350 million at a $2.4 billion market cap. This Brazil-based company provides strategy, design, and software engineering services through a network of over 5,000 employees. Growing and profitable, CI&T’s  blue-chip customer base includes Johnson & Johnson, Google, and Itaú Unibanco.\nExpensify(EXFY) plans to raise $234 million at a $2.4 billion market cap. Founder-led Expensify provides a mobile-first expense management platform, primarily helping SMBs simplify the expense approval process from initial receipt scan through next-day reimbursement. Addressing a multibillion-dollar opportunity within US SMBs, Expensify saw robust profitability in the 1H21, but its paid member base remains below pre-COVID levels.\nCustomer engagement platform Weave Communications(WEAV) plans to raise $133 million at a $1.9 billion market cap. The company provides a customer communication and engagement software platform to SMBs. Fast growing and unprofitable, Weave had more than 21,000 locations under subscription across approximately 20,000 customers in the US and Canada as of 6/30/21.\nVaccine biotech Vaxxinity(VAXX) plans to raise $101 million at a $2.1 billion market cap. This Phase 2 biotech is developing vaccines therapies for chronic diseases using synthetic peptides. Vaxxinity’s lead candidate, UB-311, is being developed for the treatment of Alzheimer’s Disease and is scheduled to start a Phase 2b efficacy trial in 2022.\nOnline fashion retailer Lulu’s Fashion Lounge Holdings(LVLU) plans to raise $101 million at a $654 million market cap. Lulu’s sells apparel and accessories primarily to Millennial and Gen Z women. While its business took a hit during the pandemic, the company returned to profitability in the 1H21, and revenue growth accelerated to 24%.\nStorage cloud platform Backblaze(BLZE) plans to raise $100 million at a $644 million market cap. With over 480,000 customers across 175 countries, Backblaze provides a storage cloud platform to store, use, and protect data. The company has delivered solid growth, and it has maintained profitability on an EBITDA basis.\nTexas bank Third Coast Bank(TCBX) plans to raise $75 million at a $317 million market cap. This commercially-focused bank operates 12 branches, seven of which are in the Greater Houston market. As of 6/30/21, Third Coast Bank had total assets of $2.0 billion, total loans of $1.6 billion, total deposits of $1.8 billion, and total shareholders’ equity of $138 million.\nLaser communications firm Mynaric(MYNA) plans to raise $70 million at a $356 million market cap. Germany-based Mynaric develops and manufactures laser technologies for aerospace communications networks in government and commercial markets. The company is growing but highly unprofitable, with a -258% LTM gross margin.\nTurbine system maker FlexEnergy(FLXE) plans to raise $35 million at a $122 million market cap. This technology company designs, manufactures, and sells turbine systems and heat exchangers. FlexEnergy saw revenue shrink in both 2020 and the 1H21.","news_type":1,"symbols_score_info":{"BLZE":0.9,"HTZ":0.9,"VAXX":0.9,"CINT":0.9,"WEAV":0.9,"TCBX":0.9,"EXFY":0.9,"MYNA":0.9,"LVLU":0.9,"RIVN":0.9}},"isVote":1,"tweetType":1,"viewCount":2300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841700354,"gmtCreate":1635939499588,"gmtModify":1635939749648,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"🤧","listText":"🤧","text":"🤧","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841700354","repostId":"1115803721","repostType":4,"isVote":1,"tweetType":1,"viewCount":3076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":815183172,"gmtCreate":1630656079296,"gmtModify":1632468291157,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Apple performces has already plateaued in recents years, so unless some new big thing can reignite sales, never say never..&nbsp;","listText":"Apple performces has already plateaued in recents years, so unless some new big thing can reignite sales, never say never..&nbsp;","text":"Apple performces has already plateaued in recents years, so unless some new big thing can reignite sales, never say never..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/815183172","repostId":"1131318558","repostType":4,"repost":{"id":"1131318558","kind":"news","pubTimestamp":1630591645,"share":"https://www.laohu8.com/m/news/1131318558?lang=zh_CN&edition=full","pubTime":"2021-09-02 22:07","market":"us","language":"en","title":"Bear Attack: Could Apple Stock Really Drop 40%?<blockquote>空头攻击：苹果股价真的会下跌40%吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131318558","media":"Thestreet","summary":"One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?On the first day of September, one of the rare Wall Street bears on Apple stock  finally gave in and dropped his sell rating. The last remaining one still sees shares dropping to a price target of $90, representing risk of loss of around 40%.Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall ","content":"<p>One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?</p><p><blockquote>对苹果股票给予卖出评级的两位华尔街分析师之一认输了。另一位仍然认为AAPL股价可能会下跌40%。巨大的下行风险现实吗？</blockquote></p><p> On the first day of September, one of the rare Wall Street bears on Apple stock&nbsp;(<b>AAPL</b>)&nbsp;finally gave in and dropped his sell rating. The last remaining one still&nbsp;sees&nbsp;shares dropping to a price target of $90, representing risk of loss of around 40%.</p><p><blockquote>九月的第一天，华尔街罕见的看空苹果股票之一（<b>AAPL</b>）最终让步，下调了卖出评级。剩下的最后一位仍将股价跌至90美元的目标价，损失风险约为40%。</blockquote></p><p> Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall Street, be right about his downside call? The Apple Maven looks a bit closer at the argument.</p><p><blockquote>New Street的Pierre Ferragu是华尔街最后一位看空苹果的人，他对看涨期权下行的看法可能是正确的吗？这位苹果专家更仔细地观察了这场争论。</blockquote></p><p> <b>Why bearish on Apple?</b></p><p><blockquote><b>为什么看空苹果？</b></blockquote></p><p> The core of Pierre’s bearish argument&nbsp;seems to be the iPhone. The analyst has called the upcoming device launch a “12S cycle”, arguing that the best of Apple’s iPhone upgrade wave,the so-called 5G super cycle, has been left in the rearview mirror.</p><p><blockquote>皮埃尔看空论点的核心似乎是iPhone。这位分析师将即将推出的设备称为“12S周期”，认为苹果iPhone升级浪潮中最好的部分，即所谓的5G超级周期，已经成为过去。</blockquote></p><p> New Street subscribes to the view that the strong iPhone 12 cycle has pulled forward smartphone sales, leaving a gap in demand going forward. Interestingly, this is exactly the&nbsp;opposite opinion of bullish Wedbush analyst Dan Ives, who said the following during an interview with the Apple Maven:</p><p><blockquote>New Street赞同这样的观点，即强劲的iPhone 12周期拉动了智能手机销量，导致未来需求出现缺口。有趣的是，这与看涨的Wedbush分析师Dan Ives的观点完全相反，Dan Ives在接受《苹果专家》采访时表示：</blockquote></p><p>   “What the Street underestimates is how massive and elongated this super cycle is. […] 5G does not get fully embraced for the next two or three years, until the networks are built out. In China [where the 5G infrastructure is further ahead], the iPhone 12, especially the larger Pro versions, really sold extremely well.”  Still on the iPhone, Mr. Ferragu laid out his expectations for 2022 back in April (I am unaware of revisions since then). He believes that iPhone shipments will reach 190 million units, suggesting segment revenues of around $150 billion – a modest annual increase of 5% from COVID-19 levels.</p><p><blockquote>“华尔街低估了这个超级周期的规模和长度。[……]在网络建成之前，5G在未来两三年内不会被完全接受。在中国（5G基础设施更加领先），iPhone 12，尤其是较大的Pro版本，确实卖得非常好。”Ferragu先生仍然在iPhone上，早在4月份就提出了他对2022年的预期（我不知道此后有任何修改）。他认为iPhone出货量将达到1.9亿部，这意味着该部门的收入约为1500亿美元——比COVID-19水平每年小幅增长5%。</blockquote></p><p> <b>Could AAPL sink 40%?</b></p><p><blockquote><b>AAPL会下跌40%吗？</b></blockquote></p><p> Now, let’s put pen to paper. For Apple stock to be valued at $90 apiece, one of two things would need to happen: either financial performance would need to lag consensus expectations, or valuations would need to contract (or a combination of both).</p><p><blockquote>现在，让我们动笔。苹果股票的估值要达到每股90美元，需要发生两件事之一：要么财务业绩需要落后于普遍预期，要么估值需要收缩（或两者兼而有之）。</blockquote></p><p> On results,Wall Street currently sees&nbsp;fiscal 2022 EPS landing at $5.63, roughly flat against a 2021 that has been impressive so far. For AAPL to drop 40% in price, therefore, next-year earnings would need to miss consensus substantially, by at least a couple of dollars. I find this highly unlikely.</p><p><blockquote>从业绩来看，华尔街目前预计2022财年每股收益将达到5.63美元，与迄今为止令人印象深刻的2021财年基本持平。因此，苹果公司要想股价下跌40%，明年的盈利就需要大幅低于市场预期，至少下降几美元。我觉得这不太可能。</blockquote></p><p> On valuations, AAPL currently trades at a fiscal 2021 earnings multiple of 27 times. Assuming consensus-matching results in the future, this multiple would need to drop to about 16 times for AAPL shares to sink to $90. The stock’s forward P/E has not been this low in years.</p><p><blockquote>从估值来看，AAPL目前的2021财年市盈率为27倍。假设未来的结果与共识匹配，这一市盈率需要降至16倍左右，AAPL股价才能跌至90美元。该股的预期市盈率多年来从未如此低。</blockquote></p><p> <b>The Apple Maven’s take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> I find it very improbable, if not virtually impossible, for Apple to ever be valued at $90 per share again. It is much more reasonable, in my opinion, that New Street’s current price target on the stock is simply stale, following AAPL’s 25% rally in the past six months.</p><p><blockquote>我发现苹果的估值即使不是几乎不可能，也不太可能再次达到每股90美元。在我看来，更合理的是，在AAPL在过去六个月内上涨了25%之后，New Street目前的股价目标已经过时了。</blockquote></p><p> Therefore, I would not be surprised to see Wall Street’s last AAPL bear eventually (soon?) give in on his downside convictions, at least in what pertains to his current price target.</p><p><blockquote>因此，看到华尔街最后一次看空苹果公司最终（很快？）屈服于他的下行信念，至少在与他当前的价格目标相关的方面，我不会感到惊讶。</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>Bear Attack: Could Apple Stock Really Drop 40%?<blockquote>空头攻击：苹果股价真的会下跌40%吗？</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\">\nBear Attack: Could Apple Stock Really Drop 40%?<blockquote>空头攻击：苹果股价真的会下跌40%吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-09-02 22:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?</p><p><blockquote>对苹果股票给予卖出评级的两位华尔街分析师之一认输了。另一位仍然认为AAPL股价可能会下跌40%。巨大的下行风险现实吗？</blockquote></p><p> On the first day of September, one of the rare Wall Street bears on Apple stock&nbsp;(<b>AAPL</b>)&nbsp;finally gave in and dropped his sell rating. The last remaining one still&nbsp;sees&nbsp;shares dropping to a price target of $90, representing risk of loss of around 40%.</p><p><blockquote>九月的第一天，华尔街罕见的看空苹果股票之一（<b>AAPL</b>）最终让步，下调了卖出评级。剩下的最后一位仍将股价跌至90美元的目标价，损失风险约为40%。</blockquote></p><p> Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall Street, be right about his downside call? The Apple Maven looks a bit closer at the argument.</p><p><blockquote>New Street的Pierre Ferragu是华尔街最后一位看空苹果的人，他对看涨期权下行的看法可能是正确的吗？这位苹果专家更仔细地观察了这场争论。</blockquote></p><p> <b>Why bearish on Apple?</b></p><p><blockquote><b>为什么看空苹果？</b></blockquote></p><p> The core of Pierre’s bearish argument&nbsp;seems to be the iPhone. The analyst has called the upcoming device launch a “12S cycle”, arguing that the best of Apple’s iPhone upgrade wave,the so-called 5G super cycle, has been left in the rearview mirror.</p><p><blockquote>皮埃尔看空论点的核心似乎是iPhone。这位分析师将即将推出的设备称为“12S周期”，认为苹果iPhone升级浪潮中最好的部分，即所谓的5G超级周期，已经成为过去。</blockquote></p><p> New Street subscribes to the view that the strong iPhone 12 cycle has pulled forward smartphone sales, leaving a gap in demand going forward. Interestingly, this is exactly the&nbsp;opposite opinion of bullish Wedbush analyst Dan Ives, who said the following during an interview with the Apple Maven:</p><p><blockquote>New Street赞同这样的观点，即强劲的iPhone 12周期拉动了智能手机销量，导致未来需求出现缺口。有趣的是，这与看涨的Wedbush分析师Dan Ives的观点完全相反，Dan Ives在接受《苹果专家》采访时表示：</blockquote></p><p>   “What the Street underestimates is how massive and elongated this super cycle is. […] 5G does not get fully embraced for the next two or three years, until the networks are built out. In China [where the 5G infrastructure is further ahead], the iPhone 12, especially the larger Pro versions, really sold extremely well.”  Still on the iPhone, Mr. Ferragu laid out his expectations for 2022 back in April (I am unaware of revisions since then). He believes that iPhone shipments will reach 190 million units, suggesting segment revenues of around $150 billion – a modest annual increase of 5% from COVID-19 levels.</p><p><blockquote>“华尔街低估了这个超级周期的规模和长度。[……]在网络建成之前，5G在未来两三年内不会被完全接受。在中国（5G基础设施更加领先），iPhone 12，尤其是较大的Pro版本，确实卖得非常好。”Ferragu先生仍然在iPhone上，早在4月份就提出了他对2022年的预期（我不知道此后有任何修改）。他认为iPhone出货量将达到1.9亿部，这意味着该部门的收入约为1500亿美元——比COVID-19水平每年小幅增长5%。</blockquote></p><p> <b>Could AAPL sink 40%?</b></p><p><blockquote><b>AAPL会下跌40%吗？</b></blockquote></p><p> Now, let’s put pen to paper. For Apple stock to be valued at $90 apiece, one of two things would need to happen: either financial performance would need to lag consensus expectations, or valuations would need to contract (or a combination of both).</p><p><blockquote>现在，让我们动笔。苹果股票的估值要达到每股90美元，需要发生两件事之一：要么财务业绩需要落后于普遍预期，要么估值需要收缩（或两者兼而有之）。</blockquote></p><p> On results,Wall Street currently sees&nbsp;fiscal 2022 EPS landing at $5.63, roughly flat against a 2021 that has been impressive so far. For AAPL to drop 40% in price, therefore, next-year earnings would need to miss consensus substantially, by at least a couple of dollars. I find this highly unlikely.</p><p><blockquote>从业绩来看，华尔街目前预计2022财年每股收益将达到5.63美元，与迄今为止令人印象深刻的2021财年基本持平。因此，苹果公司要想股价下跌40%，明年的盈利就需要大幅低于市场预期，至少下降几美元。我觉得这不太可能。</blockquote></p><p> On valuations, AAPL currently trades at a fiscal 2021 earnings multiple of 27 times. Assuming consensus-matching results in the future, this multiple would need to drop to about 16 times for AAPL shares to sink to $90. The stock’s forward P/E has not been this low in years.</p><p><blockquote>从估值来看，AAPL目前的2021财年市盈率为27倍。假设未来的结果与共识匹配，这一市盈率需要降至16倍左右，AAPL股价才能跌至90美元。该股的预期市盈率多年来从未如此低。</blockquote></p><p> <b>The Apple Maven’s take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> I find it very improbable, if not virtually impossible, for Apple to ever be valued at $90 per share again. It is much more reasonable, in my opinion, that New Street’s current price target on the stock is simply stale, following AAPL’s 25% rally in the past six months.</p><p><blockquote>我发现苹果的估值即使不是几乎不可能，也不太可能再次达到每股90美元。在我看来，更合理的是，在AAPL在过去六个月内上涨了25%之后，New Street目前的股价目标已经过时了。</blockquote></p><p> Therefore, I would not be surprised to see Wall Street’s last AAPL bear eventually (soon?) give in on his downside convictions, at least in what pertains to his current price target.</p><p><blockquote>因此，看到华尔街最后一次看空苹果公司最终（很快？）屈服于他的下行信念，至少在与他当前的价格目标相关的方面，我不会感到惊讶。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/stock/bear-attack-could-apple-stock-really-drop-40\">Thestreet</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"},"source_url":"https://www.thestreet.com/apple/stock/bear-attack-could-apple-stock-really-drop-40","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131318558","content_text":"One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?\nOn the first day of September, one of the rare Wall Street bears on Apple stock (AAPL) finally gave in and dropped his sell rating. The last remaining one still sees shares dropping to a price target of $90, representing risk of loss of around 40%.\nCould New Street’s Pierre Ferragu, the last remaining Apple bear on Wall Street, be right about his downside call? The Apple Maven looks a bit closer at the argument.\nWhy bearish on Apple?\nThe core of Pierre’s bearish argument seems to be the iPhone. The analyst has called the upcoming device launch a “12S cycle”, arguing that the best of Apple’s iPhone upgrade wave,the so-called 5G super cycle, has been left in the rearview mirror.\nNew Street subscribes to the view that the strong iPhone 12 cycle has pulled forward smartphone sales, leaving a gap in demand going forward. Interestingly, this is exactly the opposite opinion of bullish Wedbush analyst Dan Ives, who said the following during an interview with the Apple Maven:\n\n “What the Street underestimates is how massive and elongated this super cycle is. […] 5G does not get fully embraced for the next two or three years, until the networks are built out. In China [where the 5G infrastructure is further ahead], the iPhone 12, especially the larger Pro versions, really sold extremely well.”\n\nStill on the iPhone, Mr. Ferragu laid out his expectations for 2022 back in April (I am unaware of revisions since then). He believes that iPhone shipments will reach 190 million units, suggesting segment revenues of around $150 billion – a modest annual increase of 5% from COVID-19 levels.\nCould AAPL sink 40%?\nNow, let’s put pen to paper. For Apple stock to be valued at $90 apiece, one of two things would need to happen: either financial performance would need to lag consensus expectations, or valuations would need to contract (or a combination of both).\nOn results,Wall Street currently sees fiscal 2022 EPS landing at $5.63, roughly flat against a 2021 that has been impressive so far. For AAPL to drop 40% in price, therefore, next-year earnings would need to miss consensus substantially, by at least a couple of dollars. I find this highly unlikely.\nOn valuations, AAPL currently trades at a fiscal 2021 earnings multiple of 27 times. Assuming consensus-matching results in the future, this multiple would need to drop to about 16 times for AAPL shares to sink to $90. The stock’s forward P/E has not been this low in years.\nThe Apple Maven’s take\nI find it very improbable, if not virtually impossible, for Apple to ever be valued at $90 per share again. It is much more reasonable, in my opinion, that New Street’s current price target on the stock is simply stale, following AAPL’s 25% rally in the past six months.\nTherefore, I would not be surprised to see Wall Street’s last AAPL bear eventually (soon?) give in on his downside convictions, at least in what pertains to his current price target.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2576,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145705906,"gmtCreate":1626242963805,"gmtModify":1633928685242,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Feels too speculative for comfort..&nbsp;","listText":"Feels too speculative for comfort..&nbsp;","text":"Feels too speculative for comfort..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145705906","repostId":"2151565201","repostType":4,"isVote":1,"tweetType":1,"viewCount":1941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149346119,"gmtCreate":1625706735431,"gmtModify":1631883983184,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Another one riding on a high..","listText":"Another one riding on a high..","text":"Another one riding on a high..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149346119","repostId":"2149697283","repostType":4,"isVote":1,"tweetType":1,"viewCount":1854,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149341537,"gmtCreate":1625706681929,"gmtModify":1633938178521,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Too much speculation on healthcare and biotech.. Wait fornsome stability before plunging.","listText":"Too much speculation on healthcare and biotech.. Wait fornsome stability before plunging.","text":"Too much speculation on healthcare and biotech.. Wait fornsome stability before plunging.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149341537","repostId":"2149365051","repostType":4,"isVote":1,"tweetType":1,"viewCount":1826,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157988300,"gmtCreate":1625559877500,"gmtModify":1633939646570,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Risk of Chinese mobile app businesses..&nbsp;","listText":"Risk of Chinese mobile app businesses..&nbsp;","text":"Risk of Chinese mobile app businesses..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/157988300","repostId":"1145795655","repostType":4,"isVote":1,"tweetType":1,"viewCount":1721,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152510412,"gmtCreate":1625309792436,"gmtModify":1631884322698,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Hope its real tips..&nbsp;","listText":"Hope its real tips..&nbsp;","text":"Hope its real tips..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/152510412","repostId":"2148725958","repostType":4,"isVote":1,"tweetType":1,"viewCount":2603,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158995929,"gmtCreate":1625119424361,"gmtModify":1633944568012,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Buy buy buy!!","listText":"Buy buy buy!!","text":"Buy buy buy!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158995929","repostId":"2147581409","repostType":4,"isVote":1,"tweetType":1,"viewCount":1629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159324091,"gmtCreate":1624942919413,"gmtModify":1633946671187,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Robotics with loads of potential ridingnon hype of automation..","listText":"Robotics with loads of potential ridingnon hype of automation..","text":"Robotics with loads of potential ridingnon hype of automation..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159324091","repostId":"2147853075","repostType":4,"isVote":1,"tweetType":1,"viewCount":557,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127914858,"gmtCreate":1624814145874,"gmtModify":1633948413451,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Buy buy buy","listText":"Buy buy buy","text":"Buy buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127914858","repostId":"2146070550","repostType":4,"isVote":1,"tweetType":1,"viewCount":818,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127914315,"gmtCreate":1624814099137,"gmtModify":1633948413573,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Apple strategies are very short term. Need longer term view for future growth.","listText":"Apple strategies are very short term. Need longer term view for future growth.","text":"Apple strategies are very short term. Need longer term view for future growth.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127914315","repostId":"1189436009","repostType":4,"isVote":1,"tweetType":1,"viewCount":714,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127915279,"gmtCreate":1624813889891,"gmtModify":1633948414305,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"NIO","listText":"NIO","text":"NIO","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127915279","repostId":"1137119316","repostType":4,"repost":{"id":"1137119316","kind":"news","pubTimestamp":1624754401,"share":"https://www.laohu8.com/m/news/1137119316?lang=zh_CN&edition=full","pubTime":"2021-06-27 08:40","market":"us","language":"en","title":"Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137119316","media":"seekingalpha","summary":"I am comparing Ford against NIO in different categories.The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.NIO is growing a lot faster than Ford and the high valuation may be justified.With Ford  launching a major offensive in the market for electric vehicles, Chinese EV maker NIO  will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</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>Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</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\">\nFord Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-27 08:40</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>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict\">seekingalpha</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":{"F":"福特汽车","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137119316","content_text":"Summary\n\nI am comparing Ford against NIO in different categories.\nThe comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.\nNIO is growing a lot faster than Ford and the high valuation may be justified.\n\npeterschreiber.media/iStock via Getty Images\nWith Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.\nFord vs. NIO: The battle for the global electric vehicle market is heating up\nAlthough there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing $30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.\nMarket opportunity\nIn 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.\n(Source: Wikipedia)\nChina, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is on the cusp of entering the European market in a bid to grow market share in the world’s second-largest EV market before the competition is ready.\nBeijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a twenty percent share of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.\n(Source:Schroders)\nTurning to growth projections.\nWith more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.\n(Source:McKinsey)\nSince China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.\nScale and manufacturing competence\nFord has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.\nSince NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.\nWinner here: Ford.\nDifferentiation and BaaS revenue model\nBoth Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.\nFord is forming a joint venture with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has formed its own joint venture to secure battery supply.\nThe difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.\nThe BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.\nFord and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.\nBattery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.\n(Source: Schroders)\nThe “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.\nSales growth and valuation\nFord’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.\nFord's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.\nData by YCharts\nThe difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!\nDue to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.\n(Source: Author)\nNIO has larger risks...\nNIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.\nFinal verdict\nNIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.\nFord’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.\nIf you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.","news_type":1,"symbols_score_info":{"NIO":0.9,"F":0.9}},"isVote":1,"tweetType":1,"viewCount":500,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127915387,"gmtCreate":1624813793549,"gmtModify":1633948414648,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Pure speculation","listText":"Pure speculation","text":"Pure speculation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127915387","repostId":"1172710941","repostType":4,"isVote":1,"tweetType":1,"viewCount":812,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":842248013,"gmtCreate":1636188538148,"gmtModify":1636188538301,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/842248013","repostId":"1176171748","repostType":4,"repost":{"id":"1176171748","kind":"news","pubTimestamp":1636158392,"share":"https://www.laohu8.com/m/news/1176171748?lang=zh_CN&edition=full","pubTime":"2021-11-06 08:26","market":"us","language":"en","title":"US IPO Week Ahead: The IPO market quietly revs its engine in an 11 IPO week<blockquote>美国IPO周：IPO市场在11周IPO中悄然加速</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176171748","media":"renaissancecap...","summary":"The IPO market is expected to stay busy with 11 IPOs schedule to raise $10.2 billion in the week ahe","content":"<p>The IPO market is expected to stay busy with 11 IPOs schedule to raise $10.2 billion in the week ahead.</p><p><blockquote>预计IPO市场将保持繁忙，未来一周将有11起IPO计划筹集102亿美元。</blockquote></p><p> Electric truck developer&nbsp;<b>Rivian Automotive</b>(RIVN) plans to raise $8.0 billion at a $57.1 billion market cap. This founder-led company is developing and manufacturing a portfolio of electric adventure-ready consumer and commercial SUVs, vans, and pickup trucks. Although the company is in very early stages of commercialization, Rivian began its first deliveries in September of 2021 and has an order of 100,000 EDVs from Amazon through 2025.</p><p><blockquote>电动卡车开发商<b>Rivian汽车</b>(RIVN)计划以571亿美元的市值筹集80亿美元。这家创始人领导的公司正在开发和制造一系列电动冒险消费和商用SUV、货车和皮卡车。尽管该公司正处于商业化的早期阶段，但Rivian于2021年9月开始首批交付，并在2025年之前从亚马逊订购了10万辆EDV。</blockquote></p><p> OTC-listed&nbsp;<b>Hertz Global Holdings</b>(HTZ) plans to raise $1.0 billion at a $13.9 billion market cap. The company provides vehicle rental services globally primarily through the Hertz, Dollar, and Thrifty brands. Hertz filed for bankruptcy in May of 2020 and emerged this past June. The company is profitable, and revenue growth accelerated to 34% in the 9mo21.</p><p><blockquote>OTC上市<b>赫兹全球控股公司</b>(HTZ)计划以139亿美元的市值筹集10亿美元。该公司主要通过Hertz、Dollar和Thrifty品牌在全球提供车辆租赁服务。赫兹于2020年5月申请破产，并于今年6月上市。该公司已实现盈利，21年9月收入增长加速至34%。</blockquote></p><p> Outsourced IT services provider&nbsp;<b>CI&amp;T</b>(CINT) plans to raise $350 million at a $2.4 billion market cap. This Brazil-based company provides strategy, design, and software engineering services through a network of over 5,000 employees. Growing and profitable, CI&amp;T’s &nbsp;blue-chip customer base includes Johnson &amp; Johnson, Google, and Itaú Unibanco.</p><p><blockquote>外包IT服务提供商<b>CI&amp;T</b>(CINT)计划以24亿美元的市值筹集3.5亿美元。这家总部位于巴西的公司通过拥有5,000多名员工的网络提供战略、设计和软件工程服务。CI&amp;T的蓝筹客户群不断增长且盈利，包括强生公司、谷歌和ItaúUnibanco。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/EXFY\">Expensify</a></b>(EXFY) plans to raise $234 million at a $2.4 billion market cap. Founder-led Expensify provides a mobile-first expense management platform, primarily helping SMBs simplify the expense approval process from initial receipt scan through next-day reimbursement. Addressing a multibillion-dollar opportunity within US SMBs, Expensify saw robust profitability in the 1H21, but its paid member base remains below pre-COVID levels.</p><p><blockquote><b><a href=\"https://laohu8.com/S/EXFY\">昂贵的</a></b>(EXFY)计划以24亿美元的市值筹集2.34亿美元。创始人领导的Expensify提供了一个移动优先的费用管理平台，主要帮助中小企业简化从初始收据扫描到第二天报销的费用审批流程。Expensify解决了美国中小企业数十亿美元的机会，在2021年上半年实现了强劲的盈利能力，但其付费会员基础仍低于新冠疫情爆发前的水平。</blockquote></p><p> Customer engagement platform&nbsp;<b>Weave Communications</b>(WEAV) plans to raise $133 million at a $1.9 billion market cap. The company provides a customer communication and engagement software platform to SMBs. Fast growing and unprofitable, Weave had more than 21,000 locations under subscription across approximately 20,000 customers in the US and Canada as of 6/30/21.</p><p><blockquote>客户参与平台<b>编织通信</b>(WEAV)计划以19亿美元的市值筹集1.33亿美元。该公司为中小型企业提供客户沟通和参与软件平台。截至2011年6月30日，Weave在美国和加拿大拥有超过21,000个订阅点，约有20,000名客户。</blockquote></p><p> Vaccine biotech&nbsp;<b>Vaxxinity</b>(VAXX) plans to raise $101 million at a $2.1 billion market cap. This Phase 2 biotech is developing vaccines therapies for chronic diseases using synthetic peptides. Vaxxinity’s lead candidate, UB-311, is being developed for the treatment of Alzheimer’s Disease and is scheduled to start a Phase 2b efficacy trial in 2022.</p><p><blockquote>疫苗生物技术<b>疫苗</b>(VAXX)计划以21亿美元的市值筹集1.01亿美元。这家二期生物技术公司正在开发使用合成肽治疗慢性疾病的疫苗。Vaxxinity的主要候选药物UB-311正在开发用于治疗阿尔茨海默病，并计划于2022年开始2b期疗效试验。</blockquote></p><p> Online fashion retailer&nbsp;<b>Lulu’s Fashion Lounge Holdings</b>(LVLU) plans to raise $101 million at a $654 million market cap. Lulu’s sells apparel and accessories primarily to Millennial and Gen Z women. While its business took a hit during the pandemic, the company returned to profitability in the 1H21, and revenue growth accelerated to 24%.</p><p><blockquote>在线时装零售商<b>露露的时尚酒廊控股</b>(LVLU)计划以6.54亿美元的市值筹集1.01亿美元。Lulu’s主要向千禧一代和Z世代女性销售服装和配饰。尽管其业务在疫情期间受到打击，但该公司在2021年上半年恢复盈利，收入增长加速至24%。</blockquote></p><p> Storage cloud platform&nbsp;<b>Backblaze</b>(BLZE) plans to raise $100 million at a $644 million market cap. With over 480,000 customers across 175 countries, Backblaze provides a storage cloud platform to store, use, and protect data. The company has delivered solid growth, and it has maintained profitability on an EBITDA basis.</p><p><blockquote>存储云平台<b>Backblaze</b>(BLZE)计划以6.44亿美元的市值筹集1亿美元。Backblaze在175个国家/地区拥有超过480,000名客户，提供存储、使用和保护数据的存储云平台。该公司实现了稳健增长，并在EBITDA基础上保持了盈利能力。</blockquote></p><p> Texas bank&nbsp;<b>Third Coast Bank</b>(TCBX) plans to raise $75 million at a $317 million market cap. This commercially-focused bank operates 12 branches, seven of which are in the Greater Houston market. As of 6/30/21, Third Coast Bank had total assets of $2.0 billion, total loans of $1.6 billion, total deposits of $1.8 billion, and total shareholders’ equity of $138 million.</p><p><blockquote>德克萨斯银行<b>第三海岸银行</b>(TCBX)计划以3.17亿美元的市值筹集7500万美元。这家以商业为重点的银行经营着12家分行，其中7家位于大休斯顿市场。截至2011年6月30日，第三海岸银行总资产为20亿美元，贷款总额为16亿美元，存款总额为18亿美元，股东权益总额为1.38亿美元。</blockquote></p><p> Laser communications firm&nbsp;<b>Mynaric</b>(MYNA) plans to raise $70 million at a $356 million market cap. Germany-based Mynaric develops and manufactures laser technologies for aerospace communications networks in government and commercial markets. The company is growing but highly unprofitable, with a -258% LTM gross margin.</p><p><blockquote>激光通信公司<b>迈纳里克</b>(MYNA)计划以3.56亿美元的市值筹集7000万美元。总部位于德国的Mynaric为政府和商业市场的航空航天通信网络开发和制造激光技术。该公司正在增长，但非常无利可图，LTM毛利率为-258%。</blockquote></p><p> Turbine system maker&nbsp;<b>FlexEnergy</b>(FLXE) plans to raise $35 million at a $122 million market cap. This technology company designs, manufactures, and sells turbine systems and heat exchangers. FlexEnergy saw revenue shrink in both 2020 and the 1H21.</p><p><blockquote>涡轮机系统制造商<b>灵活能源</b>(FLXE)计划以1.22亿美元的市值筹集3500万美元。这家技术公司设计、制造和销售涡轮机系统和热交换器。FlexEnergy在2020年和2021年上半年的收入均出现萎缩。</blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: The IPO market quietly revs its engine in an 11 IPO week<blockquote>美国IPO周：IPO市场在11周IPO中悄然加速</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\">\nUS IPO Week Ahead: The IPO market quietly revs its engine in an 11 IPO week<blockquote>美国IPO周：IPO市场在11周IPO中悄然加速</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-11-06 08:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The IPO market is expected to stay busy with 11 IPOs schedule to raise $10.2 billion in the week ahead.</p><p><blockquote>预计IPO市场将保持繁忙，未来一周将有11起IPO计划筹集102亿美元。</blockquote></p><p> Electric truck developer&nbsp;<b>Rivian Automotive</b>(RIVN) plans to raise $8.0 billion at a $57.1 billion market cap. This founder-led company is developing and manufacturing a portfolio of electric adventure-ready consumer and commercial SUVs, vans, and pickup trucks. Although the company is in very early stages of commercialization, Rivian began its first deliveries in September of 2021 and has an order of 100,000 EDVs from Amazon through 2025.</p><p><blockquote>电动卡车开发商<b>Rivian汽车</b>(RIVN)计划以571亿美元的市值筹集80亿美元。这家创始人领导的公司正在开发和制造一系列电动冒险消费和商用SUV、货车和皮卡车。尽管该公司正处于商业化的早期阶段，但Rivian于2021年9月开始首批交付，并在2025年之前从亚马逊订购了10万辆EDV。</blockquote></p><p> OTC-listed&nbsp;<b>Hertz Global Holdings</b>(HTZ) plans to raise $1.0 billion at a $13.9 billion market cap. The company provides vehicle rental services globally primarily through the Hertz, Dollar, and Thrifty brands. Hertz filed for bankruptcy in May of 2020 and emerged this past June. The company is profitable, and revenue growth accelerated to 34% in the 9mo21.</p><p><blockquote>OTC上市<b>赫兹全球控股公司</b>(HTZ)计划以139亿美元的市值筹集10亿美元。该公司主要通过Hertz、Dollar和Thrifty品牌在全球提供车辆租赁服务。赫兹于2020年5月申请破产，并于今年6月上市。该公司已实现盈利，21年9月收入增长加速至34%。</blockquote></p><p> Outsourced IT services provider&nbsp;<b>CI&amp;T</b>(CINT) plans to raise $350 million at a $2.4 billion market cap. This Brazil-based company provides strategy, design, and software engineering services through a network of over 5,000 employees. Growing and profitable, CI&amp;T’s &nbsp;blue-chip customer base includes Johnson &amp; Johnson, Google, and Itaú Unibanco.</p><p><blockquote>外包IT服务提供商<b>CI&amp;T</b>(CINT)计划以24亿美元的市值筹集3.5亿美元。这家总部位于巴西的公司通过拥有5,000多名员工的网络提供战略、设计和软件工程服务。CI&amp;T的蓝筹客户群不断增长且盈利，包括强生公司、谷歌和ItaúUnibanco。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/EXFY\">Expensify</a></b>(EXFY) plans to raise $234 million at a $2.4 billion market cap. Founder-led Expensify provides a mobile-first expense management platform, primarily helping SMBs simplify the expense approval process from initial receipt scan through next-day reimbursement. Addressing a multibillion-dollar opportunity within US SMBs, Expensify saw robust profitability in the 1H21, but its paid member base remains below pre-COVID levels.</p><p><blockquote><b><a href=\"https://laohu8.com/S/EXFY\">昂贵的</a></b>(EXFY)计划以24亿美元的市值筹集2.34亿美元。创始人领导的Expensify提供了一个移动优先的费用管理平台，主要帮助中小企业简化从初始收据扫描到第二天报销的费用审批流程。Expensify解决了美国中小企业数十亿美元的机会，在2021年上半年实现了强劲的盈利能力，但其付费会员基础仍低于新冠疫情爆发前的水平。</blockquote></p><p> Customer engagement platform&nbsp;<b>Weave Communications</b>(WEAV) plans to raise $133 million at a $1.9 billion market cap. The company provides a customer communication and engagement software platform to SMBs. Fast growing and unprofitable, Weave had more than 21,000 locations under subscription across approximately 20,000 customers in the US and Canada as of 6/30/21.</p><p><blockquote>客户参与平台<b>编织通信</b>(WEAV)计划以19亿美元的市值筹集1.33亿美元。该公司为中小型企业提供客户沟通和参与软件平台。截至2011年6月30日，Weave在美国和加拿大拥有超过21,000个订阅点，约有20,000名客户。</blockquote></p><p> Vaccine biotech&nbsp;<b>Vaxxinity</b>(VAXX) plans to raise $101 million at a $2.1 billion market cap. This Phase 2 biotech is developing vaccines therapies for chronic diseases using synthetic peptides. Vaxxinity’s lead candidate, UB-311, is being developed for the treatment of Alzheimer’s Disease and is scheduled to start a Phase 2b efficacy trial in 2022.</p><p><blockquote>疫苗生物技术<b>疫苗</b>(VAXX)计划以21亿美元的市值筹集1.01亿美元。这家二期生物技术公司正在开发使用合成肽治疗慢性疾病的疫苗。Vaxxinity的主要候选药物UB-311正在开发用于治疗阿尔茨海默病，并计划于2022年开始2b期疗效试验。</blockquote></p><p> Online fashion retailer&nbsp;<b>Lulu’s Fashion Lounge Holdings</b>(LVLU) plans to raise $101 million at a $654 million market cap. Lulu’s sells apparel and accessories primarily to Millennial and Gen Z women. While its business took a hit during the pandemic, the company returned to profitability in the 1H21, and revenue growth accelerated to 24%.</p><p><blockquote>在线时装零售商<b>露露的时尚酒廊控股</b>(LVLU)计划以6.54亿美元的市值筹集1.01亿美元。Lulu’s主要向千禧一代和Z世代女性销售服装和配饰。尽管其业务在疫情期间受到打击，但该公司在2021年上半年恢复盈利，收入增长加速至24%。</blockquote></p><p> Storage cloud platform&nbsp;<b>Backblaze</b>(BLZE) plans to raise $100 million at a $644 million market cap. With over 480,000 customers across 175 countries, Backblaze provides a storage cloud platform to store, use, and protect data. The company has delivered solid growth, and it has maintained profitability on an EBITDA basis.</p><p><blockquote>存储云平台<b>Backblaze</b>(BLZE)计划以6.44亿美元的市值筹集1亿美元。Backblaze在175个国家/地区拥有超过480,000名客户，提供存储、使用和保护数据的存储云平台。该公司实现了稳健增长，并在EBITDA基础上保持了盈利能力。</blockquote></p><p> Texas bank&nbsp;<b>Third Coast Bank</b>(TCBX) plans to raise $75 million at a $317 million market cap. This commercially-focused bank operates 12 branches, seven of which are in the Greater Houston market. As of 6/30/21, Third Coast Bank had total assets of $2.0 billion, total loans of $1.6 billion, total deposits of $1.8 billion, and total shareholders’ equity of $138 million.</p><p><blockquote>德克萨斯银行<b>第三海岸银行</b>(TCBX)计划以3.17亿美元的市值筹集7500万美元。这家以商业为重点的银行经营着12家分行，其中7家位于大休斯顿市场。截至2011年6月30日，第三海岸银行总资产为20亿美元，贷款总额为16亿美元，存款总额为18亿美元，股东权益总额为1.38亿美元。</blockquote></p><p> Laser communications firm&nbsp;<b>Mynaric</b>(MYNA) plans to raise $70 million at a $356 million market cap. Germany-based Mynaric develops and manufactures laser technologies for aerospace communications networks in government and commercial markets. The company is growing but highly unprofitable, with a -258% LTM gross margin.</p><p><blockquote>激光通信公司<b>迈纳里克</b>(MYNA)计划以3.56亿美元的市值筹集7000万美元。总部位于德国的Mynaric为政府和商业市场的航空航天通信网络开发和制造激光技术。该公司正在增长，但非常无利可图，LTM毛利率为-258%。</blockquote></p><p> Turbine system maker&nbsp;<b>FlexEnergy</b>(FLXE) plans to raise $35 million at a $122 million market cap. This technology company designs, manufactures, and sells turbine systems and heat exchangers. FlexEnergy saw revenue shrink in both 2020 and the 1H21.</p><p><blockquote>涡轮机系统制造商<b>灵活能源</b>(FLXE)计划以1.22亿美元的市值筹集3500万美元。这家技术公司设计、制造和销售涡轮机系统和热交换器。FlexEnergy在2020年和2021年上半年的收入均出现萎缩。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/88289/US-IPO-Week-Ahead-The-IPO-market-quietly-revs-its-engine-in-an-11-IPO-week\">renaissancecap...</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":{"BLZE":"Backblaze, Inc.","EXFY":"Expensify","LVLU":"Lulu's Fashion Lounge Holdings, Inc","HTZ":"赫兹租车","CINT":"CI&T Inc.","TCBX":"Third Coast Bancshares, Inc.","WEAV":"Weave Communications, Inc","VAXX":"Vaxxinity, Inc.","RIVN":"Rivian Automotive, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/88289/US-IPO-Week-Ahead-The-IPO-market-quietly-revs-its-engine-in-an-11-IPO-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176171748","content_text":"The IPO market is expected to stay busy with 11 IPOs schedule to raise $10.2 billion in the week ahead.\nElectric truck developer Rivian Automotive(RIVN) plans to raise $8.0 billion at a $57.1 billion market cap. This founder-led company is developing and manufacturing a portfolio of electric adventure-ready consumer and commercial SUVs, vans, and pickup trucks. Although the company is in very early stages of commercialization, Rivian began its first deliveries in September of 2021 and has an order of 100,000 EDVs from Amazon through 2025.\nOTC-listed Hertz Global Holdings(HTZ) plans to raise $1.0 billion at a $13.9 billion market cap. The company provides vehicle rental services globally primarily through the Hertz, Dollar, and Thrifty brands. Hertz filed for bankruptcy in May of 2020 and emerged this past June. The company is profitable, and revenue growth accelerated to 34% in the 9mo21.\nOutsourced IT services provider CI&T(CINT) plans to raise $350 million at a $2.4 billion market cap. This Brazil-based company provides strategy, design, and software engineering services through a network of over 5,000 employees. Growing and profitable, CI&T’s  blue-chip customer base includes Johnson & Johnson, Google, and Itaú Unibanco.\nExpensify(EXFY) plans to raise $234 million at a $2.4 billion market cap. Founder-led Expensify provides a mobile-first expense management platform, primarily helping SMBs simplify the expense approval process from initial receipt scan through next-day reimbursement. Addressing a multibillion-dollar opportunity within US SMBs, Expensify saw robust profitability in the 1H21, but its paid member base remains below pre-COVID levels.\nCustomer engagement platform Weave Communications(WEAV) plans to raise $133 million at a $1.9 billion market cap. The company provides a customer communication and engagement software platform to SMBs. Fast growing and unprofitable, Weave had more than 21,000 locations under subscription across approximately 20,000 customers in the US and Canada as of 6/30/21.\nVaccine biotech Vaxxinity(VAXX) plans to raise $101 million at a $2.1 billion market cap. This Phase 2 biotech is developing vaccines therapies for chronic diseases using synthetic peptides. Vaxxinity’s lead candidate, UB-311, is being developed for the treatment of Alzheimer’s Disease and is scheduled to start a Phase 2b efficacy trial in 2022.\nOnline fashion retailer Lulu’s Fashion Lounge Holdings(LVLU) plans to raise $101 million at a $654 million market cap. Lulu’s sells apparel and accessories primarily to Millennial and Gen Z women. While its business took a hit during the pandemic, the company returned to profitability in the 1H21, and revenue growth accelerated to 24%.\nStorage cloud platform Backblaze(BLZE) plans to raise $100 million at a $644 million market cap. With over 480,000 customers across 175 countries, Backblaze provides a storage cloud platform to store, use, and protect data. The company has delivered solid growth, and it has maintained profitability on an EBITDA basis.\nTexas bank Third Coast Bank(TCBX) plans to raise $75 million at a $317 million market cap. This commercially-focused bank operates 12 branches, seven of which are in the Greater Houston market. As of 6/30/21, Third Coast Bank had total assets of $2.0 billion, total loans of $1.6 billion, total deposits of $1.8 billion, and total shareholders’ equity of $138 million.\nLaser communications firm Mynaric(MYNA) plans to raise $70 million at a $356 million market cap. Germany-based Mynaric develops and manufactures laser technologies for aerospace communications networks in government and commercial markets. The company is growing but highly unprofitable, with a -258% LTM gross margin.\nTurbine system maker FlexEnergy(FLXE) plans to raise $35 million at a $122 million market cap. This technology company designs, manufactures, and sells turbine systems and heat exchangers. FlexEnergy saw revenue shrink in both 2020 and the 1H21.","news_type":1,"symbols_score_info":{"BLZE":0.9,"HTZ":0.9,"VAXX":0.9,"CINT":0.9,"WEAV":0.9,"TCBX":0.9,"EXFY":0.9,"MYNA":0.9,"LVLU":0.9,"RIVN":0.9}},"isVote":1,"tweetType":1,"viewCount":2300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":159324091,"gmtCreate":1624942919413,"gmtModify":1633946671187,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Robotics with loads of potential ridingnon hype of automation..","listText":"Robotics with loads of potential ridingnon hype of automation..","text":"Robotics with loads of potential ridingnon hype of automation..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159324091","repostId":"2147853075","repostType":4,"isVote":1,"tweetType":1,"viewCount":557,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127915387,"gmtCreate":1624813793549,"gmtModify":1633948414648,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Pure speculation","listText":"Pure speculation","text":"Pure speculation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127915387","repostId":"1172710941","repostType":4,"isVote":1,"tweetType":1,"viewCount":812,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815183172,"gmtCreate":1630656079296,"gmtModify":1632468291157,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Apple performces has already plateaued in recents years, so unless some new big thing can reignite sales, never say never..&nbsp;","listText":"Apple performces has already plateaued in recents years, so unless some new big thing can reignite sales, never say never..&nbsp;","text":"Apple performces has already plateaued in recents years, so unless some new big thing can reignite sales, never say never..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/815183172","repostId":"1131318558","repostType":4,"repost":{"id":"1131318558","kind":"news","pubTimestamp":1630591645,"share":"https://www.laohu8.com/m/news/1131318558?lang=zh_CN&edition=full","pubTime":"2021-09-02 22:07","market":"us","language":"en","title":"Bear Attack: Could Apple Stock Really Drop 40%?<blockquote>空头攻击：苹果股价真的会下跌40%吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131318558","media":"Thestreet","summary":"One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?On the first day of September, one of the rare Wall Street bears on Apple stock  finally gave in and dropped his sell rating. The last remaining one still sees shares dropping to a price target of $90, representing risk of loss of around 40%.Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall ","content":"<p>One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?</p><p><blockquote>对苹果股票给予卖出评级的两位华尔街分析师之一认输了。另一位仍然认为AAPL股价可能会下跌40%。巨大的下行风险现实吗？</blockquote></p><p> On the first day of September, one of the rare Wall Street bears on Apple stock&nbsp;(<b>AAPL</b>)&nbsp;finally gave in and dropped his sell rating. The last remaining one still&nbsp;sees&nbsp;shares dropping to a price target of $90, representing risk of loss of around 40%.</p><p><blockquote>九月的第一天，华尔街罕见的看空苹果股票之一（<b>AAPL</b>）最终让步，下调了卖出评级。剩下的最后一位仍将股价跌至90美元的目标价，损失风险约为40%。</blockquote></p><p> Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall Street, be right about his downside call? The Apple Maven looks a bit closer at the argument.</p><p><blockquote>New Street的Pierre Ferragu是华尔街最后一位看空苹果的人，他对看涨期权下行的看法可能是正确的吗？这位苹果专家更仔细地观察了这场争论。</blockquote></p><p> <b>Why bearish on Apple?</b></p><p><blockquote><b>为什么看空苹果？</b></blockquote></p><p> The core of Pierre’s bearish argument&nbsp;seems to be the iPhone. The analyst has called the upcoming device launch a “12S cycle”, arguing that the best of Apple’s iPhone upgrade wave,the so-called 5G super cycle, has been left in the rearview mirror.</p><p><blockquote>皮埃尔看空论点的核心似乎是iPhone。这位分析师将即将推出的设备称为“12S周期”，认为苹果iPhone升级浪潮中最好的部分，即所谓的5G超级周期，已经成为过去。</blockquote></p><p> New Street subscribes to the view that the strong iPhone 12 cycle has pulled forward smartphone sales, leaving a gap in demand going forward. Interestingly, this is exactly the&nbsp;opposite opinion of bullish Wedbush analyst Dan Ives, who said the following during an interview with the Apple Maven:</p><p><blockquote>New Street赞同这样的观点，即强劲的iPhone 12周期拉动了智能手机销量，导致未来需求出现缺口。有趣的是，这与看涨的Wedbush分析师Dan Ives的观点完全相反，Dan Ives在接受《苹果专家》采访时表示：</blockquote></p><p>   “What the Street underestimates is how massive and elongated this super cycle is. […] 5G does not get fully embraced for the next two or three years, until the networks are built out. In China [where the 5G infrastructure is further ahead], the iPhone 12, especially the larger Pro versions, really sold extremely well.”  Still on the iPhone, Mr. Ferragu laid out his expectations for 2022 back in April (I am unaware of revisions since then). He believes that iPhone shipments will reach 190 million units, suggesting segment revenues of around $150 billion – a modest annual increase of 5% from COVID-19 levels.</p><p><blockquote>“华尔街低估了这个超级周期的规模和长度。[……]在网络建成之前，5G在未来两三年内不会被完全接受。在中国（5G基础设施更加领先），iPhone 12，尤其是较大的Pro版本，确实卖得非常好。”Ferragu先生仍然在iPhone上，早在4月份就提出了他对2022年的预期（我不知道此后有任何修改）。他认为iPhone出货量将达到1.9亿部，这意味着该部门的收入约为1500亿美元——比COVID-19水平每年小幅增长5%。</blockquote></p><p> <b>Could AAPL sink 40%?</b></p><p><blockquote><b>AAPL会下跌40%吗？</b></blockquote></p><p> Now, let’s put pen to paper. For Apple stock to be valued at $90 apiece, one of two things would need to happen: either financial performance would need to lag consensus expectations, or valuations would need to contract (or a combination of both).</p><p><blockquote>现在，让我们动笔。苹果股票的估值要达到每股90美元，需要发生两件事之一：要么财务业绩需要落后于普遍预期，要么估值需要收缩（或两者兼而有之）。</blockquote></p><p> On results,Wall Street currently sees&nbsp;fiscal 2022 EPS landing at $5.63, roughly flat against a 2021 that has been impressive so far. For AAPL to drop 40% in price, therefore, next-year earnings would need to miss consensus substantially, by at least a couple of dollars. I find this highly unlikely.</p><p><blockquote>从业绩来看，华尔街目前预计2022财年每股收益将达到5.63美元，与迄今为止令人印象深刻的2021财年基本持平。因此，苹果公司要想股价下跌40%，明年的盈利就需要大幅低于市场预期，至少下降几美元。我觉得这不太可能。</blockquote></p><p> On valuations, AAPL currently trades at a fiscal 2021 earnings multiple of 27 times. Assuming consensus-matching results in the future, this multiple would need to drop to about 16 times for AAPL shares to sink to $90. The stock’s forward P/E has not been this low in years.</p><p><blockquote>从估值来看，AAPL目前的2021财年市盈率为27倍。假设未来的结果与共识匹配，这一市盈率需要降至16倍左右，AAPL股价才能跌至90美元。该股的预期市盈率多年来从未如此低。</blockquote></p><p> <b>The Apple Maven’s take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> I find it very improbable, if not virtually impossible, for Apple to ever be valued at $90 per share again. It is much more reasonable, in my opinion, that New Street’s current price target on the stock is simply stale, following AAPL’s 25% rally in the past six months.</p><p><blockquote>我发现苹果的估值即使不是几乎不可能，也不太可能再次达到每股90美元。在我看来，更合理的是，在AAPL在过去六个月内上涨了25%之后，New Street目前的股价目标已经过时了。</blockquote></p><p> Therefore, I would not be surprised to see Wall Street’s last AAPL bear eventually (soon?) give in on his downside convictions, at least in what pertains to his current price target.</p><p><blockquote>因此，看到华尔街最后一次看空苹果公司最终（很快？）屈服于他的下行信念，至少在与他当前的价格目标相关的方面，我不会感到惊讶。</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>Bear Attack: Could Apple Stock Really Drop 40%?<blockquote>空头攻击：苹果股价真的会下跌40%吗？</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\">\nBear Attack: Could Apple Stock Really Drop 40%?<blockquote>空头攻击：苹果股价真的会下跌40%吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-09-02 22:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?</p><p><blockquote>对苹果股票给予卖出评级的两位华尔街分析师之一认输了。另一位仍然认为AAPL股价可能会下跌40%。巨大的下行风险现实吗？</blockquote></p><p> On the first day of September, one of the rare Wall Street bears on Apple stock&nbsp;(<b>AAPL</b>)&nbsp;finally gave in and dropped his sell rating. The last remaining one still&nbsp;sees&nbsp;shares dropping to a price target of $90, representing risk of loss of around 40%.</p><p><blockquote>九月的第一天，华尔街罕见的看空苹果股票之一（<b>AAPL</b>）最终让步，下调了卖出评级。剩下的最后一位仍将股价跌至90美元的目标价，损失风险约为40%。</blockquote></p><p> Could New Street’s Pierre Ferragu, the last remaining Apple bear on Wall Street, be right about his downside call? The Apple Maven looks a bit closer at the argument.</p><p><blockquote>New Street的Pierre Ferragu是华尔街最后一位看空苹果的人，他对看涨期权下行的看法可能是正确的吗？这位苹果专家更仔细地观察了这场争论。</blockquote></p><p> <b>Why bearish on Apple?</b></p><p><blockquote><b>为什么看空苹果？</b></blockquote></p><p> The core of Pierre’s bearish argument&nbsp;seems to be the iPhone. The analyst has called the upcoming device launch a “12S cycle”, arguing that the best of Apple’s iPhone upgrade wave,the so-called 5G super cycle, has been left in the rearview mirror.</p><p><blockquote>皮埃尔看空论点的核心似乎是iPhone。这位分析师将即将推出的设备称为“12S周期”，认为苹果iPhone升级浪潮中最好的部分，即所谓的5G超级周期，已经成为过去。</blockquote></p><p> New Street subscribes to the view that the strong iPhone 12 cycle has pulled forward smartphone sales, leaving a gap in demand going forward. Interestingly, this is exactly the&nbsp;opposite opinion of bullish Wedbush analyst Dan Ives, who said the following during an interview with the Apple Maven:</p><p><blockquote>New Street赞同这样的观点，即强劲的iPhone 12周期拉动了智能手机销量，导致未来需求出现缺口。有趣的是，这与看涨的Wedbush分析师Dan Ives的观点完全相反，Dan Ives在接受《苹果专家》采访时表示：</blockquote></p><p>   “What the Street underestimates is how massive and elongated this super cycle is. […] 5G does not get fully embraced for the next two or three years, until the networks are built out. In China [where the 5G infrastructure is further ahead], the iPhone 12, especially the larger Pro versions, really sold extremely well.”  Still on the iPhone, Mr. Ferragu laid out his expectations for 2022 back in April (I am unaware of revisions since then). He believes that iPhone shipments will reach 190 million units, suggesting segment revenues of around $150 billion – a modest annual increase of 5% from COVID-19 levels.</p><p><blockquote>“华尔街低估了这个超级周期的规模和长度。[……]在网络建成之前，5G在未来两三年内不会被完全接受。在中国（5G基础设施更加领先），iPhone 12，尤其是较大的Pro版本，确实卖得非常好。”Ferragu先生仍然在iPhone上，早在4月份就提出了他对2022年的预期（我不知道此后有任何修改）。他认为iPhone出货量将达到1.9亿部，这意味着该部门的收入约为1500亿美元——比COVID-19水平每年小幅增长5%。</blockquote></p><p> <b>Could AAPL sink 40%?</b></p><p><blockquote><b>AAPL会下跌40%吗？</b></blockquote></p><p> Now, let’s put pen to paper. For Apple stock to be valued at $90 apiece, one of two things would need to happen: either financial performance would need to lag consensus expectations, or valuations would need to contract (or a combination of both).</p><p><blockquote>现在，让我们动笔。苹果股票的估值要达到每股90美元，需要发生两件事之一：要么财务业绩需要落后于普遍预期，要么估值需要收缩（或两者兼而有之）。</blockquote></p><p> On results,Wall Street currently sees&nbsp;fiscal 2022 EPS landing at $5.63, roughly flat against a 2021 that has been impressive so far. For AAPL to drop 40% in price, therefore, next-year earnings would need to miss consensus substantially, by at least a couple of dollars. I find this highly unlikely.</p><p><blockquote>从业绩来看，华尔街目前预计2022财年每股收益将达到5.63美元，与迄今为止令人印象深刻的2021财年基本持平。因此，苹果公司要想股价下跌40%，明年的盈利就需要大幅低于市场预期，至少下降几美元。我觉得这不太可能。</blockquote></p><p> On valuations, AAPL currently trades at a fiscal 2021 earnings multiple of 27 times. Assuming consensus-matching results in the future, this multiple would need to drop to about 16 times for AAPL shares to sink to $90. The stock’s forward P/E has not been this low in years.</p><p><blockquote>从估值来看，AAPL目前的2021财年市盈率为27倍。假设未来的结果与共识匹配，这一市盈率需要降至16倍左右，AAPL股价才能跌至90美元。该股的预期市盈率多年来从未如此低。</blockquote></p><p> <b>The Apple Maven’s take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> I find it very improbable, if not virtually impossible, for Apple to ever be valued at $90 per share again. It is much more reasonable, in my opinion, that New Street’s current price target on the stock is simply stale, following AAPL’s 25% rally in the past six months.</p><p><blockquote>我发现苹果的估值即使不是几乎不可能，也不太可能再次达到每股90美元。在我看来，更合理的是，在AAPL在过去六个月内上涨了25%之后，New Street目前的股价目标已经过时了。</blockquote></p><p> Therefore, I would not be surprised to see Wall Street’s last AAPL bear eventually (soon?) give in on his downside convictions, at least in what pertains to his current price target.</p><p><blockquote>因此，看到华尔街最后一次看空苹果公司最终（很快？）屈服于他的下行信念，至少在与他当前的价格目标相关的方面，我不会感到惊讶。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/stock/bear-attack-could-apple-stock-really-drop-40\">Thestreet</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"},"source_url":"https://www.thestreet.com/apple/stock/bear-attack-could-apple-stock-really-drop-40","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131318558","content_text":"One of two Wall Street analysts that had a sell rating on Apple stock threw in the towel. The other still thinks that AAPL shares could drop 40%. Is the sizable downside risk realistic?\nOn the first day of September, one of the rare Wall Street bears on Apple stock (AAPL) finally gave in and dropped his sell rating. The last remaining one still sees shares dropping to a price target of $90, representing risk of loss of around 40%.\nCould New Street’s Pierre Ferragu, the last remaining Apple bear on Wall Street, be right about his downside call? The Apple Maven looks a bit closer at the argument.\nWhy bearish on Apple?\nThe core of Pierre’s bearish argument seems to be the iPhone. The analyst has called the upcoming device launch a “12S cycle”, arguing that the best of Apple’s iPhone upgrade wave,the so-called 5G super cycle, has been left in the rearview mirror.\nNew Street subscribes to the view that the strong iPhone 12 cycle has pulled forward smartphone sales, leaving a gap in demand going forward. Interestingly, this is exactly the opposite opinion of bullish Wedbush analyst Dan Ives, who said the following during an interview with the Apple Maven:\n\n “What the Street underestimates is how massive and elongated this super cycle is. […] 5G does not get fully embraced for the next two or three years, until the networks are built out. In China [where the 5G infrastructure is further ahead], the iPhone 12, especially the larger Pro versions, really sold extremely well.”\n\nStill on the iPhone, Mr. Ferragu laid out his expectations for 2022 back in April (I am unaware of revisions since then). He believes that iPhone shipments will reach 190 million units, suggesting segment revenues of around $150 billion – a modest annual increase of 5% from COVID-19 levels.\nCould AAPL sink 40%?\nNow, let’s put pen to paper. For Apple stock to be valued at $90 apiece, one of two things would need to happen: either financial performance would need to lag consensus expectations, or valuations would need to contract (or a combination of both).\nOn results,Wall Street currently sees fiscal 2022 EPS landing at $5.63, roughly flat against a 2021 that has been impressive so far. For AAPL to drop 40% in price, therefore, next-year earnings would need to miss consensus substantially, by at least a couple of dollars. I find this highly unlikely.\nOn valuations, AAPL currently trades at a fiscal 2021 earnings multiple of 27 times. Assuming consensus-matching results in the future, this multiple would need to drop to about 16 times for AAPL shares to sink to $90. The stock’s forward P/E has not been this low in years.\nThe Apple Maven’s take\nI find it very improbable, if not virtually impossible, for Apple to ever be valued at $90 per share again. It is much more reasonable, in my opinion, that New Street’s current price target on the stock is simply stale, following AAPL’s 25% rally in the past six months.\nTherefore, I would not be surprised to see Wall Street’s last AAPL bear eventually (soon?) give in on his downside convictions, at least in what pertains to his current price target.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2576,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":879335689,"gmtCreate":1636681323341,"gmtModify":1636681677573,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/879335689","repostId":"2182606257","repostType":2,"repost":{"id":"2182606257","kind":"news","pubTimestamp":1636666860,"share":"https://www.laohu8.com/m/news/2182606257?lang=zh_CN&edition=full","pubTime":"2021-11-12 05:41","market":"fut","language":"zh","title":"外媒头条：市值突破千亿！Rivian上市次日再度飙升","url":"https://stock-news.laohu8.com/highlight/detail?id=2182606257","media":"新浪财经","summary":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、为什么经济学家低估了美国通胀的爆发力和耐力？\n\n\n2、美债市场遍布地雷 凶险程度达到疫情爆发以来之最\n\n\n3、又一波新冠疫情来袭 美国中西部医院I","content":"<p><b>全球财经媒体昨夜今晨共同关注的头条新闻主要有：</b></p>\n<blockquote>\n <b>1、为什么经济学家低估了美国通胀的爆发力和耐力？</b>\n</blockquote>\n<blockquote>\n <b>2、美债市场遍布地雷 凶险程度达到疫情爆发以来之最</b>\n</blockquote>\n<blockquote>\n <b>3、又一波新冠疫情来袭 美国中西部医院ICU人满为患</b>\n</blockquote>\n<blockquote>\n <b>4、“<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越<a href=\"https://laohu8.com/S/GM\">通用汽车</a></b>\n</blockquote>\n<blockquote>\n <b>5、改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨</b>\n</blockquote>\n<blockquote>\n <b>6、<a href=\"https://laohu8.com/S/DIS\">迪士尼</a>股价创18个月最大跌幅 因流媒体服务业务放缓</b>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/5dbc3fa747a5e8746ac0c3f61f34757e\" tg-width=\"550\" tg-height=\"339\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>为什么经济学家低估了美国通胀的爆发力和耐力？</b></p>\n<p>卷土重来的疫情、脆弱的全球供应网络和刺激政策充实的消费者荷包，共同推动美国物价涨幅远超华尔街和决策者的预期。经济学家也明白了该谦虚的时候要谦虚。</p>\n<p>本周三发布的最新通胀数据显示，10月份消费物价同比上涨6.2%，高于所有预测。以前的物价上涨更多因为经济重新开放，而10月的数据却显示了广泛的通胀压力。</p>\n<p><a href=\"https://laohu8.com/S/DB\">德意志银行</a>首席美国经济学家Matthew Luzzetti说，过去一年，预测通胀“非常具有挑战性，”未来也依然很难。“现在这个时候，谁都别以为自己已经考虑了足够的价格压力，通胀前景的风险仍然偏向上行。”</p>\n<p>自年初以来，经济学家被迫提高了对消费价格涨幅的预测。曾经，通胀被视为某种幻觉，是所谓的基期效应扭曲了数字。但结果证明，这是个更加长期的问题。</p>\n<p><img src=\"https://static.tigerbbs.com/0de9807e60befbc92e727c2b27cd2f47\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>美债市场遍布地雷 凶险程度达到疫情爆发以来之最</b></p>\n<p>美国国债市场过去一个月已成为雷区。</p>\n<p>随着全球债券交易员努力迫使央行出手应对高通胀，债市异常的震荡让他们自己也损失不小。由此仿佛陷入一个恶性循环，不愿入市令债市流动性减少，价格更易大幅波动，这进而又阻止了人们入市的脚步。</p>\n<p>美国政府证券流动性指数显示，美国国债目前的交易状况为2020年3月以来最糟。该指数衡量收益率偏离公允价值模型的程度。至于预期波动率，跟踪美国国债的ICE<a href=\"https://laohu8.com/S/BAC\">美国银行</a>MOVE指数目前接近2020年4月以来最高水平。</p>\n<p>美联储11月3日宣布计划每月减少购买800亿美元美国国债，目标是到明年年中结束购债行动。主席鲍威尔重申该减码时间表对于加息时间没有指示意义，必要情况下联储会果断对“通胀”采取行动。周三美国公布的10月CPI涨幅超过预期，美债市场遭遇2月以来最大抛盘。</p>\n<p><img src=\"https://static.tigerbbs.com/17bb143298d36f6743808a411697ad14\" tg-width=\"550\" tg-height=\"349\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>又一波新冠疫情来袭 美国中西部医院ICU人满为患</b></p>\n<p>美国部分地区的医院已经开始看到新冠疫情秋季浪潮的影响，这个最新迹象表明，即使是在疫苗接种率相对较高的地区，医疗系统仍然面临来自新冠病毒的巨大压力。</p>\n<p>在12个州，Covid-19患者使用的重症监护床位比两周前有所攀升，这些州大多数位于南起亚利桑那州和新墨西哥州，北至明尼苏达州，跨越北美大平原的连续地带上。在西部几个州，许多医生和护士还没有从上一轮感染高峰中缓过气来。</p>\n<p>“我们已经满负荷运转，（直到几天前）都无法让病人转院，” 科罗拉多州偏远的Moffat县农村地区医院Memorial Hospital的手术副总裁Jennifer Riley说。“很难相信疫情已经持续了这么久。”该医院有大约25张床位。</p>\n<p>美国未来数月面临着不确定性，随着传统的冬季病毒传染高峰期来临，德尔塔变异毒株仍在全国范围内蔓延。美国许多地区也经历了异常温暖的秋季，尚未看到当寒冷的天气促使人们更多呆在室内、病毒更容易传播时会发生什么状况。</p>\n<p><img src=\"https://static.tigerbbs.com/1558ffa4bade529e0653078064a84267\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>“特斯拉杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越通用汽车</b></p>\n<p>电动汽车初创公司Rivian股价周四继续攀升，在上市一天后再度大涨约23%。</p>\n<p>这家<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>和福特支持的公司的市值已经超过<a href=\"https://laohu8.com/S/F\">福特汽车</a>和通用汽车，目前超过1000亿美元。不过这仍然远远落后于特斯拉逾1万亿美元的市值。</p>\n<p>截至发稿，通用汽车的市值为888亿美元，而福特的市值为776亿美元。</p>\n<p>Rivian当前的市值意味着亚马逊在该公司20%的股份现价值约210亿美元，而福特持有的12%股份价值超过120亿美元。</p>\n<p>鉴于Rivian还没有成熟的商业模式，并预计三季度营收最高仅为100万美元，因此该股两日的涨幅尤其惊人。该公司在招股说明书中表示，预计当季亏损将高达12.8亿美元。</p>\n<p>Rivian凭借全电动皮卡在市场上击败了竞争对手，但尚未大规模生产其车辆。</p>\n<p><img src=\"https://static.tigerbbs.com/703c35767cc066ea313d043ed964d5ae\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨</b></p>\n<p>曼哈顿的公寓租金正在以创纪录速度上涨，因为准备重返办公室的人们纷纷在曼哈顿寻找条件更好的住所。</p>\n<p>评估公司Miller Samuel Inc．和中介公司Douglas Elliman Real Estate在周四的一份报告中表示，10月份租金中位数达到3382美元，同比上涨18%。这是10年前有数据以来最大同比涨幅；不过，租金中位数绝对值仍低于2019年10月的3409美元。</p>\n<p>Miller Samuel总裁Jonathan Miller说，那些无缘在郊区购房的公寓租户发现，他们可以转而在市内租下更好的房子。还有人则在办公室附近找到房子，为最终不得不回办公室上班做准备。</p>\n<p>“越来越多的人理解了自己想要住的地方和雇主希望他们工作的地方之间的关系，”Miller说。</p>\n<p><img src=\"https://static.tigerbbs.com/4a8b70e558184105f6ced2b1ee484691\" tg-width=\"533\" tg-height=\"300\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><b>迪士尼股价创18个月最大跌幅 因流媒体服务业务放缓</b></p>\n<p>迪士尼股价创疫情爆发以来最大跌幅，之前该公司报告流媒体用户增长低于预期，引发投资者对连续两年火爆之后增长放缓的担忧。</p>\n<p>迪士尼股价周四早盘一度下跌9.2%，为2020年3月以来最大盘中跌幅。此番下跌导致该公司市值低于竞争对手Netflix&nbsp;Inc．。流媒体的不足只是该公司各业务部门当季普遍令人失望的缩影。</p>\n<p>该公司周三公告称，Disney+在第四财季新增210万用户，其用户总数达到1.181亿。接受彭博调查的分析师预测为1.196亿。这是该服务两年前推出以来的最小季度增幅。</p>\n<p>迪士尼已将这个家庭流媒体产品作为未来几年增长的重点，管理层重申了到2024年拥有2.6亿用户的目标。11月12日是月费8美元的Disney+上线两周年纪念日，该公司正在举行庆祝活动，在全公司范围内推出新电影和促销活动。</p>","source":"sina","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>外媒头条：市值突破千亿！Rivian上市次日再度飙升</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n外媒头条：市值突破千亿！Rivian上市次日再度飙升\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-12 05:41 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/usstock/c/2021-11-12/doc-iktzscyy5039074.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、为什么经济学家低估了美国通胀的爆发力和耐力？\n\n\n2、美债市场遍布地雷 凶险程度达到疫情爆发以来之最\n\n\n3、又一波新冠疫情来袭 美国中西部医院ICU人满为患\n\n\n4、“特斯拉杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越通用汽车\n\n\n5、改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨\n\n\n6、迪士尼股价创18个月最大跌幅...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-11-12/doc-iktzscyy5039074.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/37d8ba54faa1a9d08aed79d6e8240d1f","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","RIVN":"Rivian Automotive, Inc."},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-11-12/doc-iktzscyy5039074.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2182606257","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、为什么经济学家低估了美国通胀的爆发力和耐力？\n\n\n2、美债市场遍布地雷 凶险程度达到疫情爆发以来之最\n\n\n3、又一波新冠疫情来袭 美国中西部医院ICU人满为患\n\n\n4、“特斯拉杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越通用汽车\n\n\n5、改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨\n\n\n6、迪士尼股价创18个月最大跌幅 因流媒体服务业务放缓\n\n\n为什么经济学家低估了美国通胀的爆发力和耐力？\n卷土重来的疫情、脆弱的全球供应网络和刺激政策充实的消费者荷包，共同推动美国物价涨幅远超华尔街和决策者的预期。经济学家也明白了该谦虚的时候要谦虚。\n本周三发布的最新通胀数据显示，10月份消费物价同比上涨6.2%，高于所有预测。以前的物价上涨更多因为经济重新开放，而10月的数据却显示了广泛的通胀压力。\n德意志银行首席美国经济学家Matthew Luzzetti说，过去一年，预测通胀“非常具有挑战性，”未来也依然很难。“现在这个时候，谁都别以为自己已经考虑了足够的价格压力，通胀前景的风险仍然偏向上行。”\n自年初以来，经济学家被迫提高了对消费价格涨幅的预测。曾经，通胀被视为某种幻觉，是所谓的基期效应扭曲了数字。但结果证明，这是个更加长期的问题。\n\n美债市场遍布地雷 凶险程度达到疫情爆发以来之最\n美国国债市场过去一个月已成为雷区。\n随着全球债券交易员努力迫使央行出手应对高通胀，债市异常的震荡让他们自己也损失不小。由此仿佛陷入一个恶性循环，不愿入市令债市流动性减少，价格更易大幅波动，这进而又阻止了人们入市的脚步。\n美国政府证券流动性指数显示，美国国债目前的交易状况为2020年3月以来最糟。该指数衡量收益率偏离公允价值模型的程度。至于预期波动率，跟踪美国国债的ICE美国银行MOVE指数目前接近2020年4月以来最高水平。\n美联储11月3日宣布计划每月减少购买800亿美元美国国债，目标是到明年年中结束购债行动。主席鲍威尔重申该减码时间表对于加息时间没有指示意义，必要情况下联储会果断对“通胀”采取行动。周三美国公布的10月CPI涨幅超过预期，美债市场遭遇2月以来最大抛盘。\n\n又一波新冠疫情来袭 美国中西部医院ICU人满为患\n美国部分地区的医院已经开始看到新冠疫情秋季浪潮的影响，这个最新迹象表明，即使是在疫苗接种率相对较高的地区，医疗系统仍然面临来自新冠病毒的巨大压力。\n在12个州，Covid-19患者使用的重症监护床位比两周前有所攀升，这些州大多数位于南起亚利桑那州和新墨西哥州，北至明尼苏达州，跨越北美大平原的连续地带上。在西部几个州，许多医生和护士还没有从上一轮感染高峰中缓过气来。\n“我们已经满负荷运转，（直到几天前）都无法让病人转院，” 科罗拉多州偏远的Moffat县农村地区医院Memorial Hospital的手术副总裁Jennifer Riley说。“很难相信疫情已经持续了这么久。”该医院有大约25张床位。\n美国未来数月面临着不确定性，随着传统的冬季病毒传染高峰期来临，德尔塔变异毒株仍在全国范围内蔓延。美国许多地区也经历了异常温暖的秋季，尚未看到当寒冷的天气促使人们更多呆在室内、病毒更容易传播时会发生什么状况。\n\n“特斯拉杀手”Rivian上市次日再度飙升逾20% 市值突破千亿超越通用汽车\n电动汽车初创公司Rivian股价周四继续攀升，在上市一天后再度大涨约23%。\n这家亚马逊和福特支持的公司的市值已经超过福特汽车和通用汽车，目前超过1000亿美元。不过这仍然远远落后于特斯拉逾1万亿美元的市值。\n截至发稿，通用汽车的市值为888亿美元，而福特的市值为776亿美元。\nRivian当前的市值意味着亚马逊在该公司20%的股份现价值约210亿美元，而福特持有的12%股份价值超过120亿美元。\n鉴于Rivian还没有成熟的商业模式，并预计三季度营收最高仅为100万美元，因此该股两日的涨幅尤其惊人。该公司在招股说明书中表示，预计当季亏损将高达12.8亿美元。\nRivian凭借全电动皮卡在市场上击败了竞争对手，但尚未大规模生产其车辆。\n\n改善居住条件叠加回城上班刚需 推动曼哈顿房租创纪录上涨\n曼哈顿的公寓租金正在以创纪录速度上涨，因为准备重返办公室的人们纷纷在曼哈顿寻找条件更好的住所。\n评估公司Miller Samuel Inc．和中介公司Douglas Elliman Real Estate在周四的一份报告中表示，10月份租金中位数达到3382美元，同比上涨18%。这是10年前有数据以来最大同比涨幅；不过，租金中位数绝对值仍低于2019年10月的3409美元。\nMiller Samuel总裁Jonathan Miller说，那些无缘在郊区购房的公寓租户发现，他们可以转而在市内租下更好的房子。还有人则在办公室附近找到房子，为最终不得不回办公室上班做准备。\n“越来越多的人理解了自己想要住的地方和雇主希望他们工作的地方之间的关系，”Miller说。\n\n迪士尼股价创18个月最大跌幅 因流媒体服务业务放缓\n迪士尼股价创疫情爆发以来最大跌幅，之前该公司报告流媒体用户增长低于预期，引发投资者对连续两年火爆之后增长放缓的担忧。\n迪士尼股价周四早盘一度下跌9.2%，为2020年3月以来最大盘中跌幅。此番下跌导致该公司市值低于竞争对手Netflix Inc．。流媒体的不足只是该公司各业务部门当季普遍令人失望的缩影。\n该公司周三公告称，Disney+在第四财季新增210万用户，其用户总数达到1.181亿。接受彭博调查的分析师预测为1.196亿。这是该服务两年前推出以来的最小季度增幅。\n迪士尼已将这个家庭流媒体产品作为未来几年增长的重点，管理层重申了到2024年拥有2.6亿用户的目标。11月12日是月费8美元的Disney+上线两周年纪念日，该公司正在举行庆祝活动，在全公司范围内推出新电影和促销活动。","news_type":1,"symbols_score_info":{"RIVN":0.9,".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2097,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":158995929,"gmtCreate":1625119424361,"gmtModify":1633944568012,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Buy buy buy!!","listText":"Buy buy buy!!","text":"Buy buy buy!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158995929","repostId":"2147581409","repostType":4,"isVote":1,"tweetType":1,"viewCount":1629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127915279,"gmtCreate":1624813889891,"gmtModify":1633948414305,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"NIO","listText":"NIO","text":"NIO","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127915279","repostId":"1137119316","repostType":4,"repost":{"id":"1137119316","kind":"news","pubTimestamp":1624754401,"share":"https://www.laohu8.com/m/news/1137119316?lang=zh_CN&edition=full","pubTime":"2021-06-27 08:40","market":"us","language":"en","title":"Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137119316","media":"seekingalpha","summary":"I am comparing Ford against NIO in different categories.The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.NIO is growing a lot faster than Ford and the high valuation may be justified.With Ford  launching a major offensive in the market for electric vehicles, Chinese EV maker NIO  will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</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>Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</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\">\nFord Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-27 08:40</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>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict\">seekingalpha</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":{"F":"福特汽车","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137119316","content_text":"Summary\n\nI am comparing Ford against NIO in different categories.\nThe comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.\nNIO is growing a lot faster than Ford and the high valuation may be justified.\n\npeterschreiber.media/iStock via Getty Images\nWith Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.\nFord vs. NIO: The battle for the global electric vehicle market is heating up\nAlthough there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing $30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.\nMarket opportunity\nIn 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.\n(Source: Wikipedia)\nChina, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is on the cusp of entering the European market in a bid to grow market share in the world’s second-largest EV market before the competition is ready.\nBeijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a twenty percent share of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.\n(Source:Schroders)\nTurning to growth projections.\nWith more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.\n(Source:McKinsey)\nSince China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.\nScale and manufacturing competence\nFord has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.\nSince NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.\nWinner here: Ford.\nDifferentiation and BaaS revenue model\nBoth Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.\nFord is forming a joint venture with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has formed its own joint venture to secure battery supply.\nThe difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.\nThe BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.\nFord and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.\nBattery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.\n(Source: Schroders)\nThe “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.\nSales growth and valuation\nFord’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.\nFord's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.\nData by YCharts\nThe difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!\nDue to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.\n(Source: Author)\nNIO has larger risks...\nNIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.\nFinal verdict\nNIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.\nFord’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.\nIf you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.","news_type":1,"symbols_score_info":{"NIO":0.9,"F":0.9}},"isVote":1,"tweetType":1,"viewCount":500,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145705906,"gmtCreate":1626242963805,"gmtModify":1633928685242,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Feels too speculative for comfort..&nbsp;","listText":"Feels too speculative for comfort..&nbsp;","text":"Feels too speculative for comfort..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145705906","repostId":"2151565201","repostType":4,"isVote":1,"tweetType":1,"viewCount":1941,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149341537,"gmtCreate":1625706681929,"gmtModify":1633938178521,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Too much speculation on healthcare and biotech.. Wait fornsome stability before plunging.","listText":"Too much speculation on healthcare and biotech.. Wait fornsome stability before plunging.","text":"Too much speculation on healthcare and biotech.. Wait fornsome stability before plunging.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149341537","repostId":"2149365051","repostType":4,"isVote":1,"tweetType":1,"viewCount":1826,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":841700354,"gmtCreate":1635939499588,"gmtModify":1635939749648,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"🤧","listText":"🤧","text":"🤧","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841700354","repostId":"1115803721","repostType":4,"isVote":1,"tweetType":1,"viewCount":3076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":149346119,"gmtCreate":1625706735431,"gmtModify":1631883983184,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Another one riding on a high..","listText":"Another one riding on a high..","text":"Another one riding on a high..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149346119","repostId":"2149697283","repostType":4,"isVote":1,"tweetType":1,"viewCount":1854,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157988300,"gmtCreate":1625559877500,"gmtModify":1633939646570,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Risk of Chinese mobile app businesses..&nbsp;","listText":"Risk of Chinese mobile app businesses..&nbsp;","text":"Risk of Chinese mobile app businesses..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/157988300","repostId":"1145795655","repostType":4,"isVote":1,"tweetType":1,"viewCount":1721,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152510412,"gmtCreate":1625309792436,"gmtModify":1631884322698,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Hope its real tips..&nbsp;","listText":"Hope its real tips..&nbsp;","text":"Hope its real tips..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/152510412","repostId":"2148725958","repostType":4,"isVote":1,"tweetType":1,"viewCount":2603,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127914858,"gmtCreate":1624814145874,"gmtModify":1633948413451,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Buy buy buy","listText":"Buy buy buy","text":"Buy buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127914858","repostId":"2146070550","repostType":4,"isVote":1,"tweetType":1,"viewCount":818,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127914315,"gmtCreate":1624814099137,"gmtModify":1633948413573,"author":{"id":"4087711343938000","authorId":"4087711343938000","name":"ZeeJay","avatar":"https://static.tigerbbs.com/36dbec811e59c06f4aea5df6c06ea26f","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087711343938000","idStr":"4087711343938000"},"themes":[],"htmlText":"Apple strategies are very short term. Need longer term view for future growth.","listText":"Apple strategies are very short term. Need longer term view for future growth.","text":"Apple strategies are very short term. Need longer term view for future growth.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127914315","repostId":"1189436009","repostType":4,"isVote":1,"tweetType":1,"viewCount":714,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}