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Tesla Stock Might Have Just Had Its Worst Quarter Ever
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03-28 14:16
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4 Reasons to Buy Baidu Stock Like There's No Tomorrow
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03-28 07:51
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The Giants of Investing: 3 Must-Own Mega-Cap Stocks
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03-27 10:03
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Arm Stock: AI Chip Favorite Is Overpriced
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03-26 17:39
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03-26 17:05
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Super Micro Stock Gains Another 4% After Jumping 7% on A Bullish Call From JPMorgan
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03-26
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Micron Will Experience Strong Tailwinds As GPU Capacity Loosens Up
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03-25
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Tesla Stock Is Falling. Here’s the Latest EV News
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03-25
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U.S. Stocks To Watch: United Airlines, Intel, AMD, Masimo, and More
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03-25
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JPMorgan Initiates Coverage of Super Micro's Stock With an Overweight Rating and $1,150 Target Price
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03-25
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3 Dangerous Myths About Nvidia Stock
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03-22
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Nvidia: This Is Not A Bubble
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03-21
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Nvidia Stock Gains. Why Its Software News Could Be as Vital as New Chips
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03-21
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Alphabet CEO Sundar Pichai Sells Over $3.3 Million in Company Stock
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03-20
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History Says You'll Regret Buying Nvidia Stock
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03-20
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Palantir: AI Tailwinds May Not Outweigh Fundamentals
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03-20
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Prediction: Nvidia Will Become the World's Largest Company. Here's Why
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03-19
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Why Earnings Growth, Not the Fed's Interest-Rate Policy, Is Driving U.S. Stocks
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03-19
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Nvidia Reveals Blackwell B200 GPU, The "World’s Most Powerful Chip" for AI
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03-19
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Micron's Fiscal Q2 2024 Earnings Preview With Eyes On HBMx
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article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/289535203565592","repostId":"1152600010","repostType":2,"repost":{"id":"1152600010","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":1,"media_name":"Dow Jones","id":"1012688067","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1711692851,"share":"https://www.laohu8.com/m/news/1152600010?lang=&edition=full","pubTime":"2024-03-29 14:14","market":"us","language":"en","title":"Tesla Stock Might Have Just Had Its Worst Quarter Ever","url":"https://stock-news.laohu8.com/highlight/detail?id=1152600010","media":"Dow Jones","summary":"For Tesla investors, it was a quarter to forget. They won’t get a mental break though. First-quarter deliveries are due in a few days.Tesla stock dropped almost 30% in the first three months of 2024 m","content":"<html><head></head><body><p>For Tesla investors, it was a quarter to forget. They won’t get a mental break though. First-quarter deliveries are due in a few days.</p><p style=\"text-align: start;\">Tesla stock dropped almost 30% in the first three months of 2024 making it the worst-performing stock in the S&P 500. It’s the third worst quarterly drop ever for shares and the worst first-quarter drop—so Tesla stock just had its worst start to a year on record.</p><p>The two worst quarterly drops, interestingly, were the second and fourth quarters of 2022. Both were when CEO Elon Musk was buying Twitter, which is now called X.</p><p>Investors will hardly get any time to mull over the auto maker’s performance, caused by a combination of slowing demand growth for electric vehicles, more EV competition, and an aging product lineup with no lower-priced Tesla EV on the horizon. Even Tesla is saying investors should expect lower growth for a while. First-quarter delivery results are due on April 2.</p><p>Wall Street projects Tesla deliveries of about 457,000 units, according to FactSet. Investors, frankly, expect a lower number. Not all analysts update numbers at the same rate. The most recent estimates average about 425,000 units, up a hair from the 423,000 units delivered in the first quarter of 2023.</p><p>The most current estimates have fallen by about 35,000 units in recent weeks. Analysts, when cutting numbers, typically cite a lower-than-expected EV demand in China and some production problems in Fremont, Calif. Tesla has refreshed its Model 3 and the production ramp-up hasn’t gone as smoothly as expected. As for China, battery electric EV sales were up about 10% year over year in the first two months of the year. It is still growth, but not at the rate of prior quarters.</p><p>Earnings estimates reflect all of the first-quarter headwinds. Analysts now project 2024 earnings per share of just under $2.90 a share. At the start of the year, estimates were closer to $3.80. So estimates have fallen some 25% year to date, which isn’t too far off the stock’s year to date drop.</p><p>Looking ahead, investors will be relieved with a delivery number north of 420,000 units, says Wedbush analyst Dan Ives. His estimate for the first quarter is 425,000 units.</p><p>After deliveries, investors will want to hear how Musk plans to get the company through this rough patch. Part of that could include Tesla’s driver assistance technology called Full Self Driving, or FSD. Musk tweeted recently that his company would give all Tesla owners a free FSD trial for a month. That’s designed to boost the number of people who will pay $199 a month for the software that does most driving tasks most of the time. (Drivers still need to pay attention.)</p><p>“Higher FSD attach rates are also central to our investment thesis on the stock,” wrote RBC analyst Tom Narayan in a recent report. “Attach rates” is just his way of saying the number of Tesla owners buying FSD.</p><p>Narayan rates Tesla shares Buy and has a $298 price target for the stock. Ives rates Tesla shares Buy as well. His price target is $300.</p><p>They are more bullish than their peers. Overall, 33% of analysts covering the company rate shares Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 55%. The average analyst price target for Tesla stock is about $200 a share.</p></body></html>","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>Tesla Stock Might Have Just Had Its Worst Quarter Ever</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Might Have Just Had Its Worst Quarter Ever\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1012688067\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-03-29 14:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>For Tesla investors, it was a quarter to forget. They won’t get a mental break though. First-quarter deliveries are due in a few days.</p><p style=\"text-align: start;\">Tesla stock dropped almost 30% in the first three months of 2024 making it the worst-performing stock in the S&P 500. It’s the third worst quarterly drop ever for shares and the worst first-quarter drop—so Tesla stock just had its worst start to a year on record.</p><p>The two worst quarterly drops, interestingly, were the second and fourth quarters of 2022. Both were when CEO Elon Musk was buying Twitter, which is now called X.</p><p>Investors will hardly get any time to mull over the auto maker’s performance, caused by a combination of slowing demand growth for electric vehicles, more EV competition, and an aging product lineup with no lower-priced Tesla EV on the horizon. Even Tesla is saying investors should expect lower growth for a while. First-quarter delivery results are due on April 2.</p><p>Wall Street projects Tesla deliveries of about 457,000 units, according to FactSet. Investors, frankly, expect a lower number. Not all analysts update numbers at the same rate. The most recent estimates average about 425,000 units, up a hair from the 423,000 units delivered in the first quarter of 2023.</p><p>The most current estimates have fallen by about 35,000 units in recent weeks. Analysts, when cutting numbers, typically cite a lower-than-expected EV demand in China and some production problems in Fremont, Calif. Tesla has refreshed its Model 3 and the production ramp-up hasn’t gone as smoothly as expected. As for China, battery electric EV sales were up about 10% year over year in the first two months of the year. It is still growth, but not at the rate of prior quarters.</p><p>Earnings estimates reflect all of the first-quarter headwinds. Analysts now project 2024 earnings per share of just under $2.90 a share. At the start of the year, estimates were closer to $3.80. So estimates have fallen some 25% year to date, which isn’t too far off the stock’s year to date drop.</p><p>Looking ahead, investors will be relieved with a delivery number north of 420,000 units, says Wedbush analyst Dan Ives. His estimate for the first quarter is 425,000 units.</p><p>After deliveries, investors will want to hear how Musk plans to get the company through this rough patch. Part of that could include Tesla’s driver assistance technology called Full Self Driving, or FSD. Musk tweeted recently that his company would give all Tesla owners a free FSD trial for a month. That’s designed to boost the number of people who will pay $199 a month for the software that does most driving tasks most of the time. (Drivers still need to pay attention.)</p><p>“Higher FSD attach rates are also central to our investment thesis on the stock,” wrote RBC analyst Tom Narayan in a recent report. “Attach rates” is just his way of saying the number of Tesla owners buying FSD.</p><p>Narayan rates Tesla shares Buy and has a $298 price target for the stock. Ives rates Tesla shares Buy as well. His price target is $300.</p><p>They are more bullish than their peers. Overall, 33% of analysts covering the company rate shares Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 55%. The average analyst price target for Tesla stock is about $200 a share.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152600010","content_text":"For Tesla investors, it was a quarter to forget. They won’t get a mental break though. First-quarter deliveries are due in a few days.Tesla stock dropped almost 30% in the first three months of 2024 making it the worst-performing stock in the S&P 500. It’s the third worst quarterly drop ever for shares and the worst first-quarter drop—so Tesla stock just had its worst start to a year on record.The two worst quarterly drops, interestingly, were the second and fourth quarters of 2022. Both were when CEO Elon Musk was buying Twitter, which is now called X.Investors will hardly get any time to mull over the auto maker’s performance, caused by a combination of slowing demand growth for electric vehicles, more EV competition, and an aging product lineup with no lower-priced Tesla EV on the horizon. Even Tesla is saying investors should expect lower growth for a while. First-quarter delivery results are due on April 2.Wall Street projects Tesla deliveries of about 457,000 units, according to FactSet. Investors, frankly, expect a lower number. Not all analysts update numbers at the same rate. The most recent estimates average about 425,000 units, up a hair from the 423,000 units delivered in the first quarter of 2023.The most current estimates have fallen by about 35,000 units in recent weeks. Analysts, when cutting numbers, typically cite a lower-than-expected EV demand in China and some production problems in Fremont, Calif. Tesla has refreshed its Model 3 and the production ramp-up hasn’t gone as smoothly as expected. As for China, battery electric EV sales were up about 10% year over year in the first two months of the year. It is still growth, but not at the rate of prior quarters.Earnings estimates reflect all of the first-quarter headwinds. Analysts now project 2024 earnings per share of just under $2.90 a share. At the start of the year, estimates were closer to $3.80. So estimates have fallen some 25% year to date, which isn’t too far off the stock’s year to date drop.Looking ahead, investors will be relieved with a delivery number north of 420,000 units, says Wedbush analyst Dan Ives. His estimate for the first quarter is 425,000 units.After deliveries, investors will want to hear how Musk plans to get the company through this rough patch. Part of that could include Tesla’s driver assistance technology called Full Self Driving, or FSD. Musk tweeted recently that his company would give all Tesla owners a free FSD trial for a month. That’s designed to boost the number of people who will pay $199 a month for the software that does most driving tasks most of the time. (Drivers still need to pay attention.)“Higher FSD attach rates are also central to our investment thesis on the stock,” wrote RBC analyst Tom Narayan in a recent report. “Attach rates” is just his way of saying the number of Tesla owners buying FSD.Narayan rates Tesla shares Buy and has a $298 price target for the stock. Ives rates Tesla shares Buy as well. His price target is $300.They are more bullish than their peers. Overall, 33% of analysts covering the company rate shares Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 55%. The average analyst price target for Tesla stock is about $200 a share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":289165115826424,"gmtCreate":1711606592597,"gmtModify":1711606596245,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/289165115826424","repostId":"2422917634","repostType":2,"repost":{"id":"2422917634","pubTimestamp":1711606335,"share":"https://www.laohu8.com/m/news/2422917634?lang=&edition=full","pubTime":"2024-03-28 14:12","market":"us","language":"en","title":"4 Reasons to Buy Baidu Stock Like There's No Tomorrow","url":"https://stock-news.laohu8.com/highlight/detail?id=2422917634","media":"Motley Fool","summary":"The Chinese search engine giant is out of favor, but it won't take much to turn that sentiment around.","content":"<html><head></head><body><ul style=\"\"><li><p>Baidu is trading 71% lower than the all-time high it hit 37 months ago.</p></li><li><p>Baidu is trading for less than 10 times adjusted earnings. China's leading growth stock is also an unheralded artificial intelligence play.</p></li><li><p>Investing in China is risky, but the headwinds could be priced into the shares. Consider the tailwinds that could be coming.</p></li></ul><p>There's not a lot of love for Baidu these days. Shares of the Chinese search engine leader have plummeted more than 70% since peaking three years ago. It's clearly out of favor, but that doesn't mean there isn't still a lot to like here.</p><p>Baidu deserves better than this time capsule of greatness during the dot-com revolution in China. The stock could be a big winner from here. Let's go over four reasons why now could be a great time to pick up this former growth stock darling.</p><h2 id=\"id_185550814\">1. Baidu is cheap</h2><p>I'll start with the value investor argument because that is the box that Baidu is checking best these days. With valuations of online leaders skyrocketing for U.S. stocks, you may be surprised at how cheap China's search pioneer is for the most popular valuation metrics.</p><p>Baidu is currently trading for 13 times trailing reported earnings. If we shift gears to adjusted earnings, Baidu's multiple drops all the way down to 9. There aren't too many titans of tech trading at a trailing adjusted earnings multiple in the single digits. Google parent Alphabet -- a fierce competitor to Baidu two decades ago before pulling out of China -- is currently fetching 26 times trailing earnings.</p><p>The disparity grows wider if we head to the top line. Baidu is trading at an enterprise value that's 1.3 times last year's revenue. Alphabet's multiple clocks in at 5.8. This isn't a knock on Alphabet. Google is the global leader outside of China, and it's worthy of a market premium. I just want to illustrate how cheap Baidu is when you can buy it for 9 times trailing adjusted earnings and an enterprise value that is just 1.3 times last year's generated revenue.</p><h2 id=\"id_3983383551\">2. The beats keep coming</h2><p>Baidu isn't cheap just by top- and bottom-line multiples. Even last year, when the stock essentially marched in place, Baidu consistently landed well ahead of Wall Street's adjusted earnings targets.</p><table style=\"border-collapse:collapse;\"><tbody><tr><th style=\"text-align:left;\"><p>Quarter</p></th><th style=\"text-align:left;\"><p>EPS (estimate)</p></th><th style=\"text-align:left;\"><p>EPS (actual)</p></th><th style=\"text-align:left;\"><p>Beat</p></th></tr><tr><td style=\"text-align:left;\"><p>Q1 2023</p></td><td style=\"text-align:left;\"><p>$1.72</p></td><td style=\"text-align:left;\"><p>$2.25</p></td><td style=\"text-align:left;\"><p>29%</p></td></tr><tr><td style=\"text-align:left;\"><p>Q2 2023</p></td><td style=\"text-align:left;\"><p>$2.31</p></td><td style=\"text-align:left;\"><p>$3.08</p></td><td style=\"text-align:left;\"><p>33%</p></td></tr><tr><td style=\"text-align:left;\"><p>Q3 2023</p></td><td style=\"text-align:left;\"><p>$2.32</p></td><td style=\"text-align:left;\"><p>$2.86</p></td><td style=\"text-align:left;\"><p>23%</p></td></tr><tr><td style=\"text-align:left;\"><p>Q4 2023</p></td><td style=\"text-align:left;\"><p>$2.48</p></td><td style=\"text-align:left;\"><p>$3.04</p></td><td style=\"text-align:left;\"><p>23%</p></td></tr></tbody></table><p>Source: Yahoo! Finance.</p><p>Baidu has provided positive quarterly earnings surprises of at least 23% over the past year. The fifth surprise -- a negative but opportunistic one -- is that the stock is trading slightly lower than where it was at the beginning of 2023.</p><p>Analysts see Baidu posting an adjusted profit per share of $11.06 in 2024 and $12.20 come next year. What if Baidu keeps that streak of 23%-or-better bottom-line beats going? Either the stock finally wakes up and starts to move higher, or you're getting Baidu at less than 7 times next year's adjusted earnings.</p><h2 id=\"id_2965267117\">3. Tech is still a thing at Baidu</h2><p>Baidu has always been more than just a search engine with a cash-rich balance sheet. It puts money to work in various emerging tech industries. Baidu has been working on machine learning, computer vision, and robotics for years. It was an early pioneer in autonomous driving technology.</p><p>It even mentioned "AI" a whopping 62 times in last month's earnings call. Have you seen the rich multiples that investors are giving stateside leaders in artificial intelligence?</p><p>Baidu's lack of growth is a problem. You have to go back to 2017 to find the last time it topped 20% revenue growth. Last year's 9% top-line climb isn't going to get growth investors excited. However, if just some of its next-gen technologies start to pay off, it's easy to see global investors bidding Baidu up again.</p><h2 id=\"id_553719033\">4. China's headwind can be a tailwind</h2><p>Investing in international stocks has its risks, and those potholes widen as we get to China. There are challenges in the country, where censorship and anticapitalist sentiment can eat away at a platform's upside. There is also the growing tension between China and the U.S. and other global trade partners.</p><p>It's not popular for stateside investors to buy Chinese stocks these days, but geopolitical conditions come and go. Growth also finds a way to rise. Along the way, you have a proven tech leader trading at a historically low valuation. Baidu is so flush with cash that its $36 billion market cap gets whittled down to an enterprise value below $24 billion as a result of its strong net-cash position. Betting on Baidu may be the most contrarian move you can make right now, but it could also be one of the best decisions you make in 2024.</p></body></html>","source":"fool_stock","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>4 Reasons to Buy Baidu Stock Like There's No Tomorrow</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Reasons to Buy Baidu Stock Like There's No Tomorrow\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-28 14:12 GMT+8 <a href=https://www.fool.com/investing/2024/03/27/4-reasons-to-buy-baidu-stock-like-theres-no-tomorr/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Baidu is trading 71% lower than the all-time high it hit 37 months ago.Baidu is trading for less than 10 times adjusted earnings. China's leading growth stock is also an unheralded artificial ...</p>\n\n<a href=\"https://www.fool.com/investing/2024/03/27/4-reasons-to-buy-baidu-stock-like-theres-no-tomorr/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU1691799644.USD":"Amundi Funds Polen Capital Global Growth A2 (C) USD","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","BK4514":"搜索引擎","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0173614495.USD":"富达中国焦点A","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD) INC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU0528227936.USD":"富达环球人口趋势基金A-ACC","BK4585":"ETF&股票定投概念","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU0053666078.USD":"摩根大通基金-美国股票A(离岸)美元","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0079474960.USD":"联博美国增长基金A","BK4566":"资本集团","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","LU0082616367.USD":"摩根大通美国科技A(dist)","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0061474960.USD":"天利环球焦点基金AU Acc","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","BK4077":"互动媒体与服务","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BIDU":"百度","BK4561":"索罗斯持仓","LU0097036916.USD":"贝莱德美国增长A2 USD"},"source_url":"https://www.fool.com/investing/2024/03/27/4-reasons-to-buy-baidu-stock-like-theres-no-tomorr/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2422917634","content_text":"Baidu is trading 71% lower than the all-time high it hit 37 months ago.Baidu is trading for less than 10 times adjusted earnings. China's leading growth stock is also an unheralded artificial intelligence play.Investing in China is risky, but the headwinds could be priced into the shares. Consider the tailwinds that could be coming.There's not a lot of love for Baidu these days. Shares of the Chinese search engine leader have plummeted more than 70% since peaking three years ago. It's clearly out of favor, but that doesn't mean there isn't still a lot to like here.Baidu deserves better than this time capsule of greatness during the dot-com revolution in China. The stock could be a big winner from here. Let's go over four reasons why now could be a great time to pick up this former growth stock darling.1. Baidu is cheapI'll start with the value investor argument because that is the box that Baidu is checking best these days. With valuations of online leaders skyrocketing for U.S. stocks, you may be surprised at how cheap China's search pioneer is for the most popular valuation metrics.Baidu is currently trading for 13 times trailing reported earnings. If we shift gears to adjusted earnings, Baidu's multiple drops all the way down to 9. There aren't too many titans of tech trading at a trailing adjusted earnings multiple in the single digits. Google parent Alphabet -- a fierce competitor to Baidu two decades ago before pulling out of China -- is currently fetching 26 times trailing earnings.The disparity grows wider if we head to the top line. Baidu is trading at an enterprise value that's 1.3 times last year's revenue. Alphabet's multiple clocks in at 5.8. This isn't a knock on Alphabet. Google is the global leader outside of China, and it's worthy of a market premium. I just want to illustrate how cheap Baidu is when you can buy it for 9 times trailing adjusted earnings and an enterprise value that is just 1.3 times last year's generated revenue.2. The beats keep comingBaidu isn't cheap just by top- and bottom-line multiples. Even last year, when the stock essentially marched in place, Baidu consistently landed well ahead of Wall Street's adjusted earnings targets.QuarterEPS (estimate)EPS (actual)BeatQ1 2023$1.72$2.2529%Q2 2023$2.31$3.0833%Q3 2023$2.32$2.8623%Q4 2023$2.48$3.0423%Source: Yahoo! Finance.Baidu has provided positive quarterly earnings surprises of at least 23% over the past year. The fifth surprise -- a negative but opportunistic one -- is that the stock is trading slightly lower than where it was at the beginning of 2023.Analysts see Baidu posting an adjusted profit per share of $11.06 in 2024 and $12.20 come next year. What if Baidu keeps that streak of 23%-or-better bottom-line beats going? Either the stock finally wakes up and starts to move higher, or you're getting Baidu at less than 7 times next year's adjusted earnings.3. Tech is still a thing at BaiduBaidu has always been more than just a search engine with a cash-rich balance sheet. It puts money to work in various emerging tech industries. Baidu has been working on machine learning, computer vision, and robotics for years. It was an early pioneer in autonomous driving technology.It even mentioned \"AI\" a whopping 62 times in last month's earnings call. Have you seen the rich multiples that investors are giving stateside leaders in artificial intelligence?Baidu's lack of growth is a problem. You have to go back to 2017 to find the last time it topped 20% revenue growth. Last year's 9% top-line climb isn't going to get growth investors excited. However, if just some of its next-gen technologies start to pay off, it's easy to see global investors bidding Baidu up again.4. China's headwind can be a tailwindInvesting in international stocks has its risks, and those potholes widen as we get to China. There are challenges in the country, where censorship and anticapitalist sentiment can eat away at a platform's upside. There is also the growing tension between China and the U.S. and other global trade partners.It's not popular for stateside investors to buy Chinese stocks these days, but geopolitical conditions come and go. Growth also finds a way to rise. Along the way, you have a proven tech leader trading at a historically low valuation. Baidu is so flush with cash that its $36 billion market cap gets whittled down to an enterprise value below $24 billion as a result of its strong net-cash position. Betting on Baidu may be the most contrarian move you can make right now, but it could also be one of the best decisions you make in 2024.","news_type":1},"isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":289009537659056,"gmtCreate":1711583515997,"gmtModify":1711583518295,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/289009537659056","repostId":"2422940744","repostType":2,"repost":{"id":"2422940744","pubTimestamp":1711567908,"share":"https://www.laohu8.com/m/news/2422940744?lang=&edition=full","pubTime":"2024-03-28 03:31","market":"us","language":"en","title":"The Giants of Investing: 3 Must-Own Mega-Cap Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2422940744","media":"InvestorPlace","summary":"These mega-cap stocks look ready to deliver higher returns.Alphabet : The company is the most undervalued Magnificent Seven stock.Amazon : The tech giant operates in several promising verticals.Meta Platforms : User growth and engagement remain high.Mega-cap stocks have propelled the S&P 500 and Nasdaq 100 toward new highs. These stocks make up the largest percentage of these weighted funds’ portfolios. It’s possible to pick the top mega-cap stocks and end up outperforming the stock market.Many mega-cap stocks also offer safety. Most of these firms are household names that should withstand various economic cycles for many years. Many of them are also battle-tested and have withstood recessions. Mega-cap stocks consist of corporations that have market caps above $200 billion. These are some of the top picks to consider.Amazon stock has been on a tear after a few years of mediocre returns. The stock is up by 80% over the past year and is already up by 18% year-to-date. Shares trade at a ","content":"<html><body><article>\n<header>\n<div>\n<div>\n<ul>\n<li>These mega-cap stocks look ready to deliver higher returns.</li>\n<li><strong>Alphabet</strong> (<span><strong><u>GOOG</u></strong></span>, <span><strong><u>GOOGL</u></strong></span>): The company is the most undervalued Magnificent Seven stock.</li>\n<li><strong>Amazon</strong> (<strong><strong><u>AMZN</u></strong></strong>): The tech giant operates in several promising verticals.</li>\n<li><strong><a href=\"https://laohu8.com/S/META\">Meta Platforms</a></strong> (<strong><strong><u>META</u></strong></strong>): User growth and engagement remain high.</li>\n</ul>\n</div>\n<div></div>\n<figure>\n<div>\n<img decoding=\"async\" fetchpriority=\"high\" height=\"432\" sizes=\"(max-width: 768px) 100vw, 768px\" src=\"https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-768x432.png\" srcset=\"https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-768x432.png 768w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-300x169.png 300w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-1024x576.png 1024w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-1536x864.png 1536w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-200x113.png 200w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-400x225.png 400w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-116x65.png 116w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-100x56.png 100w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-89x50.png 89w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2-78x44.png 78w, https://investorplace.com/wp-content/uploads/2024/01/growthstocks1600-2.png 1600w\" width=\"768\"/> </div>\n<figcaption>\n<p>Source: Golden Dayz / Shutterstock.com</p>\n</figcaption>\n</figure>\n<div>\n<p>Mega-cap stocks have propelled the <strong>S&P 500</strong> and <strong>Nasdaq 100</strong> toward new highs. These stocks make up the largest percentage of these weighted funds’ portfolios. It’s possible to pick the top mega-cap stocks and end up outperforming the stock market. </p>\n<p>Many mega-cap stocks also offer safety. Most of these firms are household names that should withstand various economic cycles for many years. Many of them are also battle-tested and have withstood recessions. Mega-cap stocks consist of corporations that have market caps above $200 billion. These are some of the top picks to consider.</p>\n<h2><strong>Alphabet (GOOG, GOOGL)</strong></h2>\n<div><img decoding=\"async\" height=\"169\" sizes=\"(max-width: 300px) 100vw, 300px\" src=\"https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-300x169.png\" srcset=\"https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-300x169.png 300w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-1024x576.png 1024w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-768x432.png 768w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-1536x864.png 1536w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-200x113.png 200w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-400x225.png 400w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-116x65.png 116w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-100x56.png 100w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-89x50.png 89w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600-78x44.png 78w, https://investorplace.com/wp-content/uploads/2022/04/goog_googl_alphabet_1600.png 1600w\" width=\"300\"/><div>Source: IgorGolovniov / Shutterstock.com</div></div><p><strong>Alphabet</strong> (NASDAQ:<span><strong><u>GOOG</u></strong></span>, NASDAQ:<span><strong><u>GOOGL</u></strong></span>) has the largest advertising platform on the planet. Many people use Google and YouTube to research information and access entertaining content. Both of these search engines have many uses, which attract advertisers.</p>\n<p>Alphabet’s data collection is unmatched and makes it easy for the company to display targeted advertisements. That specialization results in better conversions for advertisers since their messages are getting in front of the right people. </p>\n<p>Alphabet’s advertising segment generates the majority of total revenue, up by 13% year-over-year (YoY) in Q4 2023. Cost-cutting measures have also helped the company and resulted in a 52% YoY improvement in net income. Google Cloud has also been a key growth driver and grew at a faster rate than the company as a whole.</p>\n<p>Artificial intelligence (<strong>AI</strong>) flubs distracted investors from Alphabet’s long-term potential, resulting in an unwarranted decline. However, investors are coming around, especially with Gemini not being as bad as feared. There are rumors that <strong>Apple</strong> (NASDAQ:<span><strong><u>AAPL</u></strong></span>) will use Gemini for its AI, which should strengthen Alphabet’s earnings. </p>\n<p>Thanks to the rumors, Alphabet is now being touted as a clear winner in AI. It’s a sudden turn of events, but shouldn’t be a surprise since Alphabet does data collection better than almost every company on the planet. It has also been using AI for years to enhance its search engines.</p>\n<h2><strong>Amazon (AMZN)</strong></h2>\n<div><img decoding=\"async\" height=\"169\" sizes=\"(max-width: 300px) 100vw, 300px\" src=\"https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-300x169.png\" srcset=\"https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-300x169.png 300w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-1024x576.png 1024w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-768x432.png 768w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-1536x864.png 1536w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-200x113.png 200w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-400x225.png 400w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-116x65.png 116w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-100x56.png 100w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-89x50.png 89w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600-78x44.png 78w, https://investorplace.com/wp-content/uploads/2022/03/amzn_amazon_2_1600.png 1600w\" width=\"300\"/><div>Source: Tada Images / Shutterstock.com</div></div><p><strong>Amazon </strong>(NASDAQ:<span><strong><u>AMZN</u></strong></span>) operates in several verticals. The two most well-known industries are its online marketplace and cloud computing. Prime Video and advertising are two segments investors should monitor thanks to their high growth rates, promising long-term profitability and how much the company is investing into them.</p>\n<p>Amazon stock has been on a tear after a few years of mediocre returns. The stock is up by 80% over the past year and is already up by 18% year-to-date. Shares trade at a 61 P/E ratio thanks to double-digit revenue growth and expanding profit margins.</p>\n<p>Amazon has received a chorus of positive support from Wall Street analysts rushing to assign higher price targets. The stock has a Strong Buy rating among 41 analysts. The average price target suggests a 17% upside from the current price. All 41 analysts rated the stock a Buy and the highest price target of $230 implies a 29% upside.</p>\n<h2><strong>Meta Platforms (META)</strong></h2>\n<div><img decoding=\"async\" height=\"169\" loading=\"lazy\" sizes=\"(max-width: 300px) 100vw, 300px\" src=\"https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-300x169.png\" srcset=\"https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-300x169.png 300w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-1024x576.png 1024w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-768x432.png 768w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-1536x864.png 1536w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-200x113.png 200w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-400x225.png 400w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-116x65.png 116w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-100x56.png 100w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-89x50.png 89w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1-78x44.png 78w, https://investorplace.com/wp-content/uploads/2024/01/meta1600-1.png 1600w\" width=\"300\"/><div>Source: rafapress / Shutterstock.com</div></div><p><strong>Meta Platforms </strong>(NASDAQ:<span><strong><u>META</u></strong></span>) also has a strong Wall Street contingent behind its stock. The Strong Buy consensus rating comes from 43 analysts. Only two analysts rated the stock as a Hold, and one analyst rated it as a Sell. The average price target implies a 7% upside, but the highest price target of $609 suggests a 23% gain.</p>\n<p>Meta Platforms knows how to retain attention and ensure its users see more advertisements. Each of those ads allows the company to earn additional money. Meta Platforms’ total user base reached 3.19 billion daily active users across its family of apps in Q4 2023. That’s an 8% YoY increase. Monthly active users increased by 6% YoY to reach 3.98 billion.</p>\n<p>The company also reported exceptional revenue and earnings growth. A 25% YoY improvement on the top line and a 201% YoY net income jump helped the company wrap up the fourth quarter nicely.</p>\n<p><em>On this date of publication, Marc Guberti held a long position in GOOG. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com </em><em>Publishing Guidelines.</em></p>\n<div><p>Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News & World Report, Benzinga, and Joy Wallet.</p></div><div><p>Growth Stocks</p></div>\n</div>\n<div>\n<div hidden=\"true\">\n<div>\n<svg fill=\"none\" height=\"32\" viewbox=\"0 0 261 32\" width=\"261\" xmlns=\"http://www.w3.org/2000/svg\">\n<path d=\"M38.8652 7.49652H42.2492V25.7517H38.8652V7.49652ZM60.0112 7.49652H63.3142V25.7517H60.0921L50.9278 13.1733V25.7517H47.6248V7.49652H50.8469L60.0112 20.0749V7.49652ZM66.5201 7.49652H70.2279L75.4578 21.8955L80.7685 7.49652H84.3144L77.1417 25.7517H73.5957L66.5201 7.49652ZM87.4232 7.49652H100.457V10.5418H90.8072V15.0601H99.5019V18.1054H90.8072V22.7064H100.781V25.7517H87.4232V7.49652ZM113.637 10.8563C112.666 10.5253 111.872 10.3598 111.063 10.3598C110.253 10.3598 109.622 10.5253 109.136 10.8563C108.65 11.1873 108.407 11.601 108.407 12.1803C108.407 12.6768 108.569 13.0906 108.893 13.4216C109.217 13.7526 109.622 14.0009 110.188 14.2491C110.674 14.4974 111.403 14.7456 112.196 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2.25024H23.6454C23.8721 2.29881 24.3091 2.5902 24.6005 2.81684Z\" fill=\"#00A000\"></path>\n<path d=\"M9.69156 1.31126C9.57824 1.37602 9.23828 1.55409 9.18971 1.52171C9.17352 1.42458 9.9182 1.06843 10.0801 1.05225C10.0963 1.10081 9.75631 1.27889 9.69156 1.31126Z\" fill=\"#00A000\"></path>\n</svg>\n<img src=\"https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif\"/>\n</div>\n<div>\n<label>\n<span></span>\n</label>\n<h3></h3>\n<div></div>\n<div>\n<form method=\"post\">\n<input type=\"hidden\" value=\"\"/>\n<input type=\"hidden\" value=\"\"/>\n<input type=\"hidden\" value=\"\"/>\n<input type=\"hidden\" value=\"free\"/>\n<input placeholder=\"Email Address\" required=\"\" type=\"email\" value=\"\"/>\n<button>Submit</button>\n</form>\n</div>\n</div>\n</div>\n</div>\n<div>\n<hr/>\n<p>Article printed from InvestorPlace Media, https://investorplace.com/2024/03/the-giants-of-investing-3-must-own-mega-cap-stocks/.</p>\n<p>©2024 InvestorPlace Media, LLC</p>\n</div>\n</div>\n</header></article></body></html>","source":"investorplace_stock_picks","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>The Giants of Investing: 3 Must-Own Mega-Cap Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Giants of Investing: 3 Must-Own Mega-Cap Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-28 03:31 GMT+8 <a href=https://investorplace.com/2024/03/the-giants-of-investing-3-must-own-mega-cap-stocks/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These mega-cap stocks look ready to deliver higher returns.\nAlphabet (GOOG, GOOGL): The company is the most undervalued Magnificent Seven stock.\nAmazon (AMZN): The tech giant operates in several ...</p>\n\n<a href=\"https://investorplace.com/2024/03/the-giants-of-investing-3-must-own-mega-cap-stocks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD) 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ACC","BK4515":"5G概念"},"source_url":"https://investorplace.com/2024/03/the-giants-of-investing-3-must-own-mega-cap-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2422940744","content_text":"These mega-cap stocks look ready to deliver higher returns.\nAlphabet (GOOG, GOOGL): The company is the most undervalued Magnificent Seven stock.\nAmazon (AMZN): The tech giant operates in several promising verticals.\nMeta Platforms (META): User growth and engagement remain high.\n\n\n\n\n\n \n\nSource: Golden Dayz / Shutterstock.com\n\n\n\nMega-cap stocks have propelled the S&P 500 and Nasdaq 100 toward new highs. These stocks make up the largest percentage of these weighted funds’ portfolios. It’s possible to pick the top mega-cap stocks and end up outperforming the stock market. \nMany mega-cap stocks also offer safety. Most of these firms are household names that should withstand various economic cycles for many years. Many of them are also battle-tested and have withstood recessions. Mega-cap stocks consist of corporations that have market caps above $200 billion. These are some of the top picks to consider.\nAlphabet (GOOG, GOOGL)\nSource: IgorGolovniov / Shutterstock.comAlphabet (NASDAQ:GOOG, NASDAQ:GOOGL) has the largest advertising platform on the planet. Many people use Google and YouTube to research information and access entertaining content. Both of these search engines have many uses, which attract advertisers.\nAlphabet’s data collection is unmatched and makes it easy for the company to display targeted advertisements. That specialization results in better conversions for advertisers since their messages are getting in front of the right people. \nAlphabet’s advertising segment generates the majority of total revenue, up by 13% year-over-year (YoY) in Q4 2023. Cost-cutting measures have also helped the company and resulted in a 52% YoY improvement in net income. Google Cloud has also been a key growth driver and grew at a faster rate than the company as a whole.\nArtificial intelligence (AI) flubs distracted investors from Alphabet’s long-term potential, resulting in an unwarranted decline. However, investors are coming around, especially with Gemini not being as bad as feared. There are rumors that Apple (NASDAQ:AAPL) will use Gemini for its AI, which should strengthen Alphabet’s earnings. \nThanks to the rumors, Alphabet is now being touted as a clear winner in AI. It’s a sudden turn of events, but shouldn’t be a surprise since Alphabet does data collection better than almost every company on the planet. It has also been using AI for years to enhance its search engines.\nAmazon (AMZN)\nSource: Tada Images / Shutterstock.comAmazon (NASDAQ:AMZN) operates in several verticals. The two most well-known industries are its online marketplace and cloud computing. Prime Video and advertising are two segments investors should monitor thanks to their high growth rates, promising long-term profitability and how much the company is investing into them.\nAmazon stock has been on a tear after a few years of mediocre returns. The stock is up by 80% over the past year and is already up by 18% year-to-date. Shares trade at a 61 P/E ratio thanks to double-digit revenue growth and expanding profit margins.\nAmazon has received a chorus of positive support from Wall Street analysts rushing to assign higher price targets. The stock has a Strong Buy rating among 41 analysts. The average price target suggests a 17% upside from the current price. All 41 analysts rated the stock a Buy and the highest price target of $230 implies a 29% upside.\nMeta Platforms (META)\nSource: rafapress / Shutterstock.comMeta Platforms (NASDAQ:META) also has a strong Wall Street contingent behind its stock. The Strong Buy consensus rating comes from 43 analysts. Only two analysts rated the stock as a Hold, and one analyst rated it as a Sell. The average price target implies a 7% upside, but the highest price target of $609 suggests a 23% gain.\nMeta Platforms knows how to retain attention and ensure its users see more advertisements. Each of those ads allows the company to earn additional money. Meta Platforms’ total user base reached 3.19 billion daily active users across its family of apps in Q4 2023. That’s an 8% YoY increase. Monthly active users increased by 6% YoY to reach 3.98 billion.\nThe company also reported exceptional revenue and earnings growth. A 25% YoY improvement on the top line and a 201% YoY net income jump helped the company wrap up the fourth quarter nicely.\nOn this date of publication, Marc Guberti held a long position in GOOG. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nMarc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News & World Report, Benzinga, and Joy Wallet.Growth Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/03/the-giants-of-investing-3-must-own-mega-cap-stocks/.\n©2024 InvestorPlace Media, LLC","news_type":1},"isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":288654686625832,"gmtCreate":1711504980754,"gmtModify":1711504984371,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/288654686625832","repostId":"2422061715","repostType":4,"repost":{"id":"2422061715","pubTimestamp":1711504765,"share":"https://www.laohu8.com/m/news/2422061715?lang=&edition=full","pubTime":"2024-03-27 09:59","market":"us","language":"en","title":"Arm Stock: AI Chip Favorite Is Overpriced","url":"https://stock-news.laohu8.com/highlight/detail?id=2422061715","media":"seekingalpha","summary":"Arm Holdings is positioned to capitalize on the growing adoption of artificial intelligence technologies, leveraging its established licensing model and extensive ecosystem to drive future growth.The ","content":"<html><head></head><body><ul style=\"\"><li><p>Arm Holdings is positioned to capitalize on the growing adoption of artificial intelligence technologies, leveraging its established licensing model and extensive ecosystem to drive future growth.</p></li><li><p>The company’s total addressable market was $203 billion in 2022 and is expected to grow at a compounded annual growth rate of 6.8% to $247 billion in CY2025.</p></li><li><p>Despite accelerating key metrics, including revenue, RPO and average contract value, Arm’s valuation poses significant risks, given that it is trading at exuberant levels.</p></li></ul><p>Arm Holdings is positioned to capitalize on the growing adoption of artificial intelligence (AI) technologies, leveraging its established licensing model and extensive ecosystem to drive future growth. Arm's established licensing model offers a recurring and relatively stable income source, and the stock is seeing favorable price action due to the growing tailwinds from its higher-royalty v9 design supporting next-generation AI chips from Nvidia, Microsoft, Amazon and others.</p><p>Yet, despite Arm dominating the smartphone market with a 99% share, the company has made very little on licensing compared to its partners. For example, mobile handsets created a $200+ billion segment for Apple, which relies on Arm technology for the iPhone, yet only resulted in (roughly) $3 billion for Arm. In this case, it was far better to own Apple.</p><p>The market is excited about the fact that AI will drive double the licensing fees for Arm. My contention is that, similar to mobile, it’s better to own the AI leaders who license Arm’s technology rather than Arm. Analyst estimates have Arm growing to $6.5 billion by 2028. For our purposes, this isn’t high enough growth to ensure insiders, aka SoftBank, won’t take their exit following the IPO lock-up expiration. Frankly, the valuation on Arm is absurdly expensive, at more than double the most-expensive chip stocks, including Nvidia. This is why we’ve stated in the past that Arm makes a better acquisition target. For public investor purposes, there is no riskier proposition than an IPO that is richly valued.</p><h2 id=\"id_2943880417\">Background on Arm</h2><p>Arm offers the most popular CPU architecture in the world with 250 billion chips shipped since inception, of which 30.6 billion were shipped in FY2023. It’s most dominant in mobile CPUs with 99% market share, and 40.8% in automotive, for an overall share of 48% in Arm’s related markets. This dominant market share is achieved through its developer ecosystem.</p><p>For mobile (and how it came to reach 99% share), Arm’s design known as “heterogenous compute” has helped facilitate lower power requirements as the architecture allows different CPU parts to work together for improved efficiency. This enables workloads to work across both high-performance and low-performance CPU cores to lower energy by balancing performance.</p><p>Arm’s different licensing models are the following:</p><p><strong>Arm Total Access Agreements: </strong>It is a type of licensing model wherein the company provides a package of CPU designs and related technologies for an annual fee. The agreement has a fixed term and Arm reserves the right to modify the package by adding or removing specific products.</p><p><strong>Arm Flexible Access Agreements:</strong> This model provides a selection of CPU designs and related technologies for an annual fee. However, the latest products are not included. In comparison, the total access agreement is a comprehensive package. Another key difference is that the customers need to pay a single-use license fee for specific products if they are included in the final chip design. Like total access agreements, the company reserves the right to modify the package.</p><p><strong>Technology Licensing Agreements: </strong>It involves licensing a specific CPU design or technology to the customer for a fixed fee. The license can be used for a fixed term or the number of uses.</p><p><strong>Architecture License Agreements:</strong> Under this agreement the customers design their own customized CPU designs using Arm’s Instruction Set Architecture (ISA).</p><h2 id=\"id_3960930999\">Arm’s v9 Architecture</h2><p>The latest Arm v9 architecture offers significant improvements in performance and efficiency, particularly for AI applications. This has led to increased adoption by its partners, particularly in the premium smartphone segment and with hyperscalers developing their own custom silicon for data center use.</p><p>CEO Rene Haas explained that the “premium smartphone is almost exclusively now v9, and virtually every high-end data centre chip is v9. When you look at Grace Hopper, when you look at Graviton, when you look at Microsoft Cobalt, these are all v9-based designs.” However, CFO Jason Child emphasized that Arm is “overweighted towards smartphones on v9, primarily because it’s an annual refresh cycle.”</p><p>Compared to the previous v8 architecture, v9 chips command double the royalty rate. This means Arm receives a higher percentage of the chip's selling price when a manufacturer uses v9 designs.</p><p>The rapid growth in v9 adoption and its higher royalty rates have already contributed to a significant increase in Arm's royalty revenue. v9 constituted 10% of royalty revenue in the September quarter and accelerated to 15% in the recent quarter. <strong>By doing the math, v9 revenue grew 69% QoQ to $70.5 million</strong>. As adoption continues to rise, the v9 architecture is expected to be a <strong>major driver of future royalty income growth for Arm.</strong></p><h2 id=\"id_3850216779\">Addressable Market</h2><p>The company’s total addressable market was $203 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% to $247 billion in CY2025. The company has maintained a market share of over 99% in the mobile applications processor market. It expects this market to grow at a CAGR of 6.4%, from $29.9 billion in 2022 to about $36 billion in 2025. The company estimates that the aggregate value of chips that contain Arm technology was $98.9 billion (48.9% market share) for the CY ending December 2022, up from 38.7% in 2014. Notably, the 6.8% CAGR is a low CAGR for an AI trend with AI chips expected to grow at a 38.2% CAGR.</p><p>Arm also has strong market share of 40.8% in the automotive chip market. Management expects the automotive chip market to grow from $18.8 billion in 2022 to $29.1 billion in 2025, growing at a CAGR of 15.7%.</p><p>The cloud compute chip market is expected to grow at a CAGR of 16.6% from $17.9 billion in CY2022 to $28.4 billion in CY2025. Arm’s market share in the cloud computing chip market has increased from 7.2% in CY2020 to 10.1% in CY2022. Since Arm-based chips are increasingly used in data centers, its market share is expected to increase significantly in the future.</p><p>Per the prospectus, “<em>Arm-based chips have been gaining market share as CSPs, such as Amazon AWS and Alibaba, have started to deploy Arm products in their own in-house designed chips used in their data centers, and as other CSPs, such as Microsoft and Oracle, start to deploy chips designed by Arm licensees, such as Ampere. As a result, we expect our market share of cloud compute to grow significantly faster than the overall cloud compute market.”</em></p><h2 id=\"id_2773941079\">Financials</h2><p>Arm’s recent Q3 FY2024 revenue ending in December grew by 13.8% YoY to $824 million, helped by the recovery in the smartphone market and demand for AI technology. This marks the second consecutive quarter of positive revenue growth, following declines of (2.5%) in the June quarter and (3.7%) in the March quarter, due to the cyclical downturn from smartphones.</p><p>License and other revenue grew 18% YoY to $354 million. The company has seen strong growth in license revenue as they are signing long-term and high value agreements with its customers due to demand for Arm’s advanced CPUs to run AI workloads. The trend was strongest in the September quarter as license revenue grew by 106%.</p><p>CEO Rene Haas said on the earnings call:</p><blockquote><p><em>“And that has seen growth in not only the smartphone sector but also in infrastructure and other markets, which drives growth. We are also seeing </em><strong><em>strong momentum and tailwinds from all things AI</em></strong><em>. From the most complex devices on the planet for training and inference, </em><strong><em>the NVIDIA Grace Hopper 200 to edge devices such as the Gemini Nano Pixel 6 from Google or the Samsung Galaxy S24, more and more AI is running on more end devices, and that's all running on Arm.”</em></strong></p></blockquote><p>They expect another record quarter for the licensing revenue. CFO Jason Child said Arm is “<em>expecting another strong quarter for licensing with revenue up sequentially to near record levels. As with recent quarters, </em><strong><em>we expect to sign multiple new ATA deals in Q4, and demand for our latest technology remains high as customers need access to AI-capable CPUs and related technology such as our Compute Subsystems.”</em></strong></p><p>Arm reported record royalty revenue, thanks to its higher value v9 technology and market share gains in cloud server and automotive markets. Royalty revenue rebounded to 11% YoY growth to $470 million from a decline of (5%) and (8%) in the previous two quarters.</p><p>Management’s guide for the next quarter is to grow over 30% YoY, due to a weak comp against the “<em>bottom of the industry wide inventory correction that occurred in prior year Q4.” </em>On a sequential basis, royalty revenue was guided to increase by the mid-single digits.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/60f43cd44b22105206edb84e5c983cc6\" tg-width=\"640\" tg-height=\"377\"/></p><p>ARM</p><p>CFO Jason Child explained that the “<em>sequential growth is mainly coming from </em><strong><em>increasing penetration of Arm v9, where royalty rates are on average, at least double the rates on equivalent Arm v8 products.</em></strong><em> Additionally, we are seeing an increasing amount of Arm technology in chips being deployed and as the amount of Arm technology in chips increases, so does the royalty rate.”</em></p><p>Management increased its revenue guidance for the next quarter by $95 million to a range of $850 million to $900 million, representing YoY growth of 38.2% at the midpoint. This strong upward revision was due to the points discussed earlier, including the rebound in royalty revenue and the higher revenue opportunity from AI. Analysts expect revenue to grow 37.4% YoY to $869.88 million in the next quarter and 27.9% in the June quarter.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9e0a9546fafdc2800ea721e11d757927\" tg-width=\"640\" tg-height=\"369\"/></p><p>Seeking Alpha</p><p>FY2023 revenue ending March declined by (0.9%) YoY to $2.679 billion. Analysts expect FY2024 revenue to grow 18.7% YoY to $3.18 billion and 23.9% YoY to $3.94 billion for FY2025.</p><h3 id=\"id_2855320019\">RPO</h3><p>Remaining performance obligations (RPO) grew by 38% YoY to $2.43 billion, helped primarily by high-value license agreements and renewal of long-term customer agreement. As per the shareholder letter, <em>“We expect to recognize approximately 28% of RPO as revenue over the next 12 months, 26% over the subsequent 13-to-24-month period, and the remainder thereafter.”</em></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/050f07aa006c67874e1e300d4b1ee66d\" tg-width=\"640\" tg-height=\"389\"/></p><p>ARM</p><h2 id=\"id_1256474762\">Margins</h2><p>Gross margin was 95.6% in the recent quarter compared to 96% in the same quarter last year. Adjusted gross margin improved 50 basis points YoY to 96.8%.</p><p>Operating margin was 16.3% compared to 33.7% in the same period last year. The operating margin was lower due to the increase of R&D expenses from an increase in engineering headcount and SG&A expenses from increase of non-engineering headcount.</p><p>In the September quarter, the operating margin was low at (19.4%) due to increased R&D expenses, stock-based compensation, and IPO-related expenses. SBC was higher than it is expected to be in future quarters as the IPO triggered a one-time expense for previously granted shares. SBC in the September quarter was “<em>$509 million with $19 million in cost of sales, $343 million in R&D and $147 million in SG&A.” </em>The future SBC run rate “<em>will depend on a number of factors, including the share price, but is currently expected to be between $150 million to $200 million per quarter.”</em> At the midpoint, this will be about 20% of revenue.</p><p>Adjusted operating margin was 43.8% compared to 39.9% in the same period last year and 47.6% in the Sept quarter.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/15a28173191f5b5fb0a69c9fd171c9bc\" tg-width=\"640\" tg-height=\"384\"/></p><p>ARM</p><p>Net margin was 10.6% compared to 25.1% in the same period last year and (13.7%) in the September quarter. The adjusted net margin was 39.3% compared to 31.1% in the same period last year and 46.9% in the September quarter.</p><h2 id=\"id_871484326\">Valuation and Risks</h2><p>Arm’s IPO lock-up period expired on March 12, so there is risk of volatility in the coming months. Arm is wildly expensive, and it’s this ultra-premium valuation that leads to elevated downside risk for investors, especially now that SoftBank’s IPO lock-up has expired.</p><p>Arm was previously listed from 1998 to 2016 when it was taken private by SoftBank Group, and it holds about 90% of the outstanding shares. Arm’s current valuation of $133 billion (90% of that is ~$120 billion) is significantly higher than SoftBank’s current market valuation of $86 billion. The lockup expiration frees up SoftBank’s 90.6% (~930 million shares) stake, allowing SoftBank to lock in gains on Arm after acquiring the company in 2016, should the holding company decide to do so.</p><p>Arm’s shares have doubled since its IPO in September 2023, and it is currently trading at a forward P/S ratio of 43x, far higher than AI semiconductor companies that have much higher growth. For as much as Nvidia is being called a ‘bubble’, Arm is trading at more than double its forward P/S multiple of 20x. Meanwhile, AMD and Broadcom, also followed closely for AI potential, are trading in the 11x P/S range, or one-quarter of Arm’s multiple.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/526a49d93fb610537523d43bab71869b\" tg-width=\"640\" tg-height=\"489\"/></p><p>YCharts</p><p>Though Arm’s licensing and royalty model allows it to have a superior gross margin profile relative to its GPU customers, it does not have the same hypergrowth profile that will allow it to command such a multiple, let alone expand on such a multiple to provide gains for investors at these levels.</p><p>Nvidia is expected to see 81% revenue growth in FY25 (Q1 beginning in February) to more than $110 billion, with similar earnings power, whereas Arm is expected to record just 24% revenue growth to $3.95 billion. Despite tens of billions in revenue growth next year for Nvidia, not to mention other AI chipmakers underpinned by Arm’s designs, Arm is expected to only see $800 million in revenue growth. Even with a beat above the $800 million, this is not nearly enough to support the $60 billion gained in valuation since Arm’s earnings report.</p><p>On the bottom line, Arm still trades at a significant premium to peers. Arm is currently trading above a 113x forward PE, more than double AMD’s 50x multiple and triple Nvidia’s 37x multiple. Looking ahead to Arm’s fiscal 2025, Arm is trading at an 86x forward PE with estimated earnings growth of just 27%, compared to 91% for Nvidia.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d5521af8d19d2de980e346fc4528aa92\" tg-width=\"640\" tg-height=\"491\"/></p><p>YCharts</p><p>The rich valuation combined with lockup expiration is the predominant risk, however, the longer-term risk is RISC-V.</p><p>Arm is based on lower power instruction sets and hardware, which is also known as a RISC architecture (Reduced Instruction Set Computing). As stated, this contributes to Arm’s approach to power efficiency by reducing the number of instruction sets required. Intel and AMD’s x86 CISC, or Complex Instruction Set Computing, offers more complex instructions that execute multiple operations. This leads to better performance but more power consumption due to the need to decode the complex instructions.</p><p>There is a third competitor to Arm and x86 which belongs in the RISC architecture category, called RISC-V. The instruction sets for RISC-V are similar to Arm’s yet RISC-V is open source and is also very new with an official launch in 2019. Compare this to Arm, which was founded forty years ago. RISC-V emphasizes register access over direct memory access, which may be more suitable for parallel processing.</p><p>It’s unlikely that RISC-V overtakes Arm in the near-term but it could become a serious contender in future years – some of Arm’s customers support RISC-V, which could limit Arm’s ability to raise prices.</p><h2 id=\"id_4107283226\">Conclusion</h2><p>Strong tailwinds for growth exist in Arm’s core markets, notably in AI, automotive and cloud compute chips, while royalty revenue is accelerating on the backs of increased royalties from the v9 design. Despite accelerating key metrics, including revenue, RPO and average contract value, Arm’s valuation poses significant risks, given that it is trading at exuberant levels even relative to the hottest AI chip stocks. In the event the valuation comes down drastically, we’ve done a thorough analysis on Arm as it’s a central player to edge AI and is key to the next phase for AI.</p></body></html>","source":"seekingalpha","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>Arm Stock: AI Chip Favorite Is Overpriced</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nArm Stock: AI Chip Favorite Is Overpriced\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-27 09:59 GMT+8 <a href=https://seekingalpha.com/article/4680484-arm-stock-ai-chip-favorite-is-overpriced><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Arm Holdings is positioned to capitalize on the growing adoption of artificial intelligence technologies, leveraging its established licensing model and extensive ecosystem to drive future growth.The ...</p>\n\n<a href=\"https://seekingalpha.com/article/4680484-arm-stock-ai-chip-favorite-is-overpriced\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0444971666.USD":"天利全球科技基金","BK4581":"高盛持仓","BK4504":"桥水持仓","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4549":"软银资本持仓","BK4548":"巴美列捷福持仓","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","BK4532":"文艺复兴科技持仓","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4592":"伊斯兰概念","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0238689110.USD":"贝莱德环球动力股票基金","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0053666078.USD":"摩根大通基金-美国股票A(离岸)美元","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0072462426.USD":"贝莱德全球配置 A2","BK4534":"瑞士信贷持仓","LU0082616367.USD":"摩根大通美国科技A(dist)","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0080751232.USD":"富达环球多元动力基金A","BK4159":"经销商","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4525":"远程办公概念","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4543":"AI","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4527":"明星科技股","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","ARM":"ARM Holdings Ltd","BK4503":"景林资产持仓"},"source_url":"https://seekingalpha.com/article/4680484-arm-stock-ai-chip-favorite-is-overpriced","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2422061715","content_text":"Arm Holdings is positioned to capitalize on the growing adoption of artificial intelligence technologies, leveraging its established licensing model and extensive ecosystem to drive future growth.The company’s total addressable market was $203 billion in 2022 and is expected to grow at a compounded annual growth rate of 6.8% to $247 billion in CY2025.Despite accelerating key metrics, including revenue, RPO and average contract value, Arm’s valuation poses significant risks, given that it is trading at exuberant levels.Arm Holdings is positioned to capitalize on the growing adoption of artificial intelligence (AI) technologies, leveraging its established licensing model and extensive ecosystem to drive future growth. Arm's established licensing model offers a recurring and relatively stable income source, and the stock is seeing favorable price action due to the growing tailwinds from its higher-royalty v9 design supporting next-generation AI chips from Nvidia, Microsoft, Amazon and others.Yet, despite Arm dominating the smartphone market with a 99% share, the company has made very little on licensing compared to its partners. For example, mobile handsets created a $200+ billion segment for Apple, which relies on Arm technology for the iPhone, yet only resulted in (roughly) $3 billion for Arm. In this case, it was far better to own Apple.The market is excited about the fact that AI will drive double the licensing fees for Arm. My contention is that, similar to mobile, it’s better to own the AI leaders who license Arm’s technology rather than Arm. Analyst estimates have Arm growing to $6.5 billion by 2028. For our purposes, this isn’t high enough growth to ensure insiders, aka SoftBank, won’t take their exit following the IPO lock-up expiration. Frankly, the valuation on Arm is absurdly expensive, at more than double the most-expensive chip stocks, including Nvidia. This is why we’ve stated in the past that Arm makes a better acquisition target. For public investor purposes, there is no riskier proposition than an IPO that is richly valued.Background on ArmArm offers the most popular CPU architecture in the world with 250 billion chips shipped since inception, of which 30.6 billion were shipped in FY2023. It’s most dominant in mobile CPUs with 99% market share, and 40.8% in automotive, for an overall share of 48% in Arm’s related markets. This dominant market share is achieved through its developer ecosystem.For mobile (and how it came to reach 99% share), Arm’s design known as “heterogenous compute” has helped facilitate lower power requirements as the architecture allows different CPU parts to work together for improved efficiency. This enables workloads to work across both high-performance and low-performance CPU cores to lower energy by balancing performance.Arm’s different licensing models are the following:Arm Total Access Agreements: It is a type of licensing model wherein the company provides a package of CPU designs and related technologies for an annual fee. The agreement has a fixed term and Arm reserves the right to modify the package by adding or removing specific products.Arm Flexible Access Agreements: This model provides a selection of CPU designs and related technologies for an annual fee. However, the latest products are not included. In comparison, the total access agreement is a comprehensive package. Another key difference is that the customers need to pay a single-use license fee for specific products if they are included in the final chip design. Like total access agreements, the company reserves the right to modify the package.Technology Licensing Agreements: It involves licensing a specific CPU design or technology to the customer for a fixed fee. The license can be used for a fixed term or the number of uses.Architecture License Agreements: Under this agreement the customers design their own customized CPU designs using Arm’s Instruction Set Architecture (ISA).Arm’s v9 ArchitectureThe latest Arm v9 architecture offers significant improvements in performance and efficiency, particularly for AI applications. This has led to increased adoption by its partners, particularly in the premium smartphone segment and with hyperscalers developing their own custom silicon for data center use.CEO Rene Haas explained that the “premium smartphone is almost exclusively now v9, and virtually every high-end data centre chip is v9. When you look at Grace Hopper, when you look at Graviton, when you look at Microsoft Cobalt, these are all v9-based designs.” However, CFO Jason Child emphasized that Arm is “overweighted towards smartphones on v9, primarily because it’s an annual refresh cycle.”Compared to the previous v8 architecture, v9 chips command double the royalty rate. This means Arm receives a higher percentage of the chip's selling price when a manufacturer uses v9 designs.The rapid growth in v9 adoption and its higher royalty rates have already contributed to a significant increase in Arm's royalty revenue. v9 constituted 10% of royalty revenue in the September quarter and accelerated to 15% in the recent quarter. By doing the math, v9 revenue grew 69% QoQ to $70.5 million. As adoption continues to rise, the v9 architecture is expected to be a major driver of future royalty income growth for Arm.Addressable MarketThe company’s total addressable market was $203 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% to $247 billion in CY2025. The company has maintained a market share of over 99% in the mobile applications processor market. It expects this market to grow at a CAGR of 6.4%, from $29.9 billion in 2022 to about $36 billion in 2025. The company estimates that the aggregate value of chips that contain Arm technology was $98.9 billion (48.9% market share) for the CY ending December 2022, up from 38.7% in 2014. Notably, the 6.8% CAGR is a low CAGR for an AI trend with AI chips expected to grow at a 38.2% CAGR.Arm also has strong market share of 40.8% in the automotive chip market. Management expects the automotive chip market to grow from $18.8 billion in 2022 to $29.1 billion in 2025, growing at a CAGR of 15.7%.The cloud compute chip market is expected to grow at a CAGR of 16.6% from $17.9 billion in CY2022 to $28.4 billion in CY2025. Arm’s market share in the cloud computing chip market has increased from 7.2% in CY2020 to 10.1% in CY2022. Since Arm-based chips are increasingly used in data centers, its market share is expected to increase significantly in the future.Per the prospectus, “Arm-based chips have been gaining market share as CSPs, such as Amazon AWS and Alibaba, have started to deploy Arm products in their own in-house designed chips used in their data centers, and as other CSPs, such as Microsoft and Oracle, start to deploy chips designed by Arm licensees, such as Ampere. As a result, we expect our market share of cloud compute to grow significantly faster than the overall cloud compute market.”FinancialsArm’s recent Q3 FY2024 revenue ending in December grew by 13.8% YoY to $824 million, helped by the recovery in the smartphone market and demand for AI technology. This marks the second consecutive quarter of positive revenue growth, following declines of (2.5%) in the June quarter and (3.7%) in the March quarter, due to the cyclical downturn from smartphones.License and other revenue grew 18% YoY to $354 million. The company has seen strong growth in license revenue as they are signing long-term and high value agreements with its customers due to demand for Arm’s advanced CPUs to run AI workloads. The trend was strongest in the September quarter as license revenue grew by 106%.CEO Rene Haas said on the earnings call:“And that has seen growth in not only the smartphone sector but also in infrastructure and other markets, which drives growth. We are also seeing strong momentum and tailwinds from all things AI. From the most complex devices on the planet for training and inference, the NVIDIA Grace Hopper 200 to edge devices such as the Gemini Nano Pixel 6 from Google or the Samsung Galaxy S24, more and more AI is running on more end devices, and that's all running on Arm.”They expect another record quarter for the licensing revenue. CFO Jason Child said Arm is “expecting another strong quarter for licensing with revenue up sequentially to near record levels. As with recent quarters, we expect to sign multiple new ATA deals in Q4, and demand for our latest technology remains high as customers need access to AI-capable CPUs and related technology such as our Compute Subsystems.”Arm reported record royalty revenue, thanks to its higher value v9 technology and market share gains in cloud server and automotive markets. Royalty revenue rebounded to 11% YoY growth to $470 million from a decline of (5%) and (8%) in the previous two quarters.Management’s guide for the next quarter is to grow over 30% YoY, due to a weak comp against the “bottom of the industry wide inventory correction that occurred in prior year Q4.” On a sequential basis, royalty revenue was guided to increase by the mid-single digits.ARMCFO Jason Child explained that the “sequential growth is mainly coming from increasing penetration of Arm v9, where royalty rates are on average, at least double the rates on equivalent Arm v8 products. Additionally, we are seeing an increasing amount of Arm technology in chips being deployed and as the amount of Arm technology in chips increases, so does the royalty rate.”Management increased its revenue guidance for the next quarter by $95 million to a range of $850 million to $900 million, representing YoY growth of 38.2% at the midpoint. This strong upward revision was due to the points discussed earlier, including the rebound in royalty revenue and the higher revenue opportunity from AI. Analysts expect revenue to grow 37.4% YoY to $869.88 million in the next quarter and 27.9% in the June quarter.Seeking AlphaFY2023 revenue ending March declined by (0.9%) YoY to $2.679 billion. Analysts expect FY2024 revenue to grow 18.7% YoY to $3.18 billion and 23.9% YoY to $3.94 billion for FY2025.RPORemaining performance obligations (RPO) grew by 38% YoY to $2.43 billion, helped primarily by high-value license agreements and renewal of long-term customer agreement. As per the shareholder letter, “We expect to recognize approximately 28% of RPO as revenue over the next 12 months, 26% over the subsequent 13-to-24-month period, and the remainder thereafter.”ARMMarginsGross margin was 95.6% in the recent quarter compared to 96% in the same quarter last year. Adjusted gross margin improved 50 basis points YoY to 96.8%.Operating margin was 16.3% compared to 33.7% in the same period last year. The operating margin was lower due to the increase of R&D expenses from an increase in engineering headcount and SG&A expenses from increase of non-engineering headcount.In the September quarter, the operating margin was low at (19.4%) due to increased R&D expenses, stock-based compensation, and IPO-related expenses. SBC was higher than it is expected to be in future quarters as the IPO triggered a one-time expense for previously granted shares. SBC in the September quarter was “$509 million with $19 million in cost of sales, $343 million in R&D and $147 million in SG&A.” The future SBC run rate “will depend on a number of factors, including the share price, but is currently expected to be between $150 million to $200 million per quarter.” At the midpoint, this will be about 20% of revenue.Adjusted operating margin was 43.8% compared to 39.9% in the same period last year and 47.6% in the Sept quarter.ARMNet margin was 10.6% compared to 25.1% in the same period last year and (13.7%) in the September quarter. The adjusted net margin was 39.3% compared to 31.1% in the same period last year and 46.9% in the September quarter.Valuation and RisksArm’s IPO lock-up period expired on March 12, so there is risk of volatility in the coming months. Arm is wildly expensive, and it’s this ultra-premium valuation that leads to elevated downside risk for investors, especially now that SoftBank’s IPO lock-up has expired.Arm was previously listed from 1998 to 2016 when it was taken private by SoftBank Group, and it holds about 90% of the outstanding shares. Arm’s current valuation of $133 billion (90% of that is ~$120 billion) is significantly higher than SoftBank’s current market valuation of $86 billion. The lockup expiration frees up SoftBank’s 90.6% (~930 million shares) stake, allowing SoftBank to lock in gains on Arm after acquiring the company in 2016, should the holding company decide to do so.Arm’s shares have doubled since its IPO in September 2023, and it is currently trading at a forward P/S ratio of 43x, far higher than AI semiconductor companies that have much higher growth. For as much as Nvidia is being called a ‘bubble’, Arm is trading at more than double its forward P/S multiple of 20x. Meanwhile, AMD and Broadcom, also followed closely for AI potential, are trading in the 11x P/S range, or one-quarter of Arm’s multiple.YChartsThough Arm’s licensing and royalty model allows it to have a superior gross margin profile relative to its GPU customers, it does not have the same hypergrowth profile that will allow it to command such a multiple, let alone expand on such a multiple to provide gains for investors at these levels.Nvidia is expected to see 81% revenue growth in FY25 (Q1 beginning in February) to more than $110 billion, with similar earnings power, whereas Arm is expected to record just 24% revenue growth to $3.95 billion. Despite tens of billions in revenue growth next year for Nvidia, not to mention other AI chipmakers underpinned by Arm’s designs, Arm is expected to only see $800 million in revenue growth. Even with a beat above the $800 million, this is not nearly enough to support the $60 billion gained in valuation since Arm’s earnings report.On the bottom line, Arm still trades at a significant premium to peers. Arm is currently trading above a 113x forward PE, more than double AMD’s 50x multiple and triple Nvidia’s 37x multiple. Looking ahead to Arm’s fiscal 2025, Arm is trading at an 86x forward PE with estimated earnings growth of just 27%, compared to 91% for Nvidia.YChartsThe rich valuation combined with lockup expiration is the predominant risk, however, the longer-term risk is RISC-V.Arm is based on lower power instruction sets and hardware, which is also known as a RISC architecture (Reduced Instruction Set Computing). As stated, this contributes to Arm’s approach to power efficiency by reducing the number of instruction sets required. Intel and AMD’s x86 CISC, or Complex Instruction Set Computing, offers more complex instructions that execute multiple operations. This leads to better performance but more power consumption due to the need to decode the complex instructions.There is a third competitor to Arm and x86 which belongs in the RISC architecture category, called RISC-V. The instruction sets for RISC-V are similar to Arm’s yet RISC-V is open source and is also very new with an official launch in 2019. Compare this to Arm, which was founded forty years ago. RISC-V emphasizes register access over direct memory access, which may be more suitable for parallel processing.It’s unlikely that RISC-V overtakes Arm in the near-term but it could become a serious contender in future years – some of Arm’s customers support RISC-V, which could limit Arm’s ability to raise prices.ConclusionStrong tailwinds for growth exist in Arm’s core markets, notably in AI, automotive and cloud compute chips, while royalty revenue is accelerating on the backs of increased royalties from the v9 design. Despite accelerating key metrics, including revenue, RPO and average contract value, Arm’s valuation poses significant risks, given that it is trading at exuberant levels even relative to the hottest AI chip stocks. In the event the valuation comes down drastically, we’ve done a thorough analysis on Arm as it’s a central player to edge AI and is key to the next phase for AI.","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":288426239303904,"gmtCreate":1711445993050,"gmtModify":1711445995398,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/288426239303904","repostId":"1134615615","repostType":4,"isVote":1,"tweetType":1,"viewCount":25,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":288430754177296,"gmtCreate":1711443917381,"gmtModify":1711443920755,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/288430754177296","repostId":"1146401600","repostType":2,"repost":{"id":"1146401600","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1711460699,"share":"https://www.laohu8.com/m/news/1146401600?lang=&edition=full","pubTime":"2024-03-26 21:44","market":"us","language":"en","title":"Super Micro Stock Gains Another 4% After Jumping 7% on A Bullish Call From JPMorgan","url":"https://stock-news.laohu8.com/highlight/detail?id=1146401600","media":"Tiger Newspress","summary":"Super Micro shares gained another 3.6% in morning trading Tuesday after jumping 7.2% Monday on a bullish call from JPMorgan.Super Micro Computer Inc. was the best-performing stock in the S&P 500 Monda","content":"<html><head></head><body><p>Super Micro shares gained another 3.9% in morning trading Tuesday after jumping 7.2% Monday on a bullish call from JPMorgan.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/be14feea7257b1e665d406105e75f8a0\" tg-width=\"845\" tg-height=\"621\"/></p><p>Super Micro Computer Inc. was the best-performing stock in the S&P 500 Monday after JPMorgan initiated coverage of the stock with an "overweight" rating, citing the company’s leading position in the fast-growing artificial intelligence (AI) computing market. </p><p style=\"text-align: start;\">JPMorgan analysts led by Samik Chatterjee assigned the computing hardware company a December 2024 stock price target of $1,150, implying 18% upside from Friday’s close. That makes it one of Wall Street’s more bullish firms on the stock, which has price targets ranging from $250 to $1,350 and a median target of $950.50, according to FactSet data.</p><p style=\"text-align: start;\">“Super Micro has disrupted the Server market with its balance of capabilities in relation to custom built solutions that provide better efficiency relative to branded companies as well as faster time to market for solutions relative to [original design manufacturer] companies,” the analysts wrote. And the AI server market that Super Micro leads is expected to swell to $283 billion in 2028 from $41 billion in 2023.2</p><p>JPMorgan. "Super Micro - AI Revolution Through Rich Compute; Initiate at OW with PT of $1,150."</p><p> “We are forecasting +43% [compound annual growth rate] between FY23 and FY27, and the 2027 revenue forecast implies that Super Micro will have 10%-15% shares of the AI Server market, which we view as conservative given its early lead,” the analysts said. </p><p style=\"text-align: start;\">The stock trades at a steep valuation—it has risen more than 275% this year alone—which “leaves material room for volatility in the shares.” Still, JPMorgan believes the multiples are justified given how quickly the AI server market is growing.</p><p style=\"text-align: start;\">The firm also sees potential upside to earnings. Margins are expected to improve in the coming years as new enterprise customers, which lack the pricing power of the big cloud providers that are Super Micro’s primary customers now, increase their AI investments.</p></body></html>","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>Super Micro Stock Gains Another 4% After Jumping 7% on A Bullish Call From JPMorgan</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuper Micro Stock Gains Another 4% After Jumping 7% on A Bullish Call From JPMorgan\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2024-03-26 21:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Super Micro shares gained another 3.9% in morning trading Tuesday after jumping 7.2% Monday on a bullish call from JPMorgan.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/be14feea7257b1e665d406105e75f8a0\" tg-width=\"845\" tg-height=\"621\"/></p><p>Super Micro Computer Inc. was the best-performing stock in the S&P 500 Monday after JPMorgan initiated coverage of the stock with an "overweight" rating, citing the company’s leading position in the fast-growing artificial intelligence (AI) computing market. </p><p style=\"text-align: start;\">JPMorgan analysts led by Samik Chatterjee assigned the computing hardware company a December 2024 stock price target of $1,150, implying 18% upside from Friday’s close. That makes it one of Wall Street’s more bullish firms on the stock, which has price targets ranging from $250 to $1,350 and a median target of $950.50, according to FactSet data.</p><p style=\"text-align: start;\">“Super Micro has disrupted the Server market with its balance of capabilities in relation to custom built solutions that provide better efficiency relative to branded companies as well as faster time to market for solutions relative to [original design manufacturer] companies,” the analysts wrote. And the AI server market that Super Micro leads is expected to swell to $283 billion in 2028 from $41 billion in 2023.2</p><p>JPMorgan. "Super Micro - AI Revolution Through Rich Compute; Initiate at OW with PT of $1,150."</p><p> “We are forecasting +43% [compound annual growth rate] between FY23 and FY27, and the 2027 revenue forecast implies that Super Micro will have 10%-15% shares of the AI Server market, which we view as conservative given its early lead,” the analysts said. </p><p style=\"text-align: start;\">The stock trades at a steep valuation—it has risen more than 275% this year alone—which “leaves material room for volatility in the shares.” Still, JPMorgan believes the multiples are justified given how quickly the AI server market is growing.</p><p style=\"text-align: start;\">The firm also sees potential upside to earnings. Margins are expected to improve in the coming years as new enterprise customers, which lack the pricing power of the big cloud providers that are Super Micro’s primary customers now, increase their AI investments.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SMCI":"超微电脑"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146401600","content_text":"Super Micro shares gained another 3.9% in morning trading Tuesday after jumping 7.2% Monday on a bullish call from JPMorgan.Super Micro Computer Inc. was the best-performing stock in the S&P 500 Monday after JPMorgan initiated coverage of the stock with an \"overweight\" rating, citing the company’s leading position in the fast-growing artificial intelligence (AI) computing market. JPMorgan analysts led by Samik Chatterjee assigned the computing hardware company a December 2024 stock price target of $1,150, implying 18% upside from Friday’s close. That makes it one of Wall Street’s more bullish firms on the stock, which has price targets ranging from $250 to $1,350 and a median target of $950.50, according to FactSet data.“Super Micro has disrupted the Server market with its balance of capabilities in relation to custom built solutions that provide better efficiency relative to branded companies as well as faster time to market for solutions relative to [original design manufacturer] companies,” the analysts wrote. And the AI server market that Super Micro leads is expected to swell to $283 billion in 2028 from $41 billion in 2023.2JPMorgan. \"Super Micro - AI Revolution Through Rich Compute; Initiate at OW with PT of $1,150.\" “We are forecasting +43% [compound annual growth rate] between FY23 and FY27, and the 2027 revenue forecast implies that Super Micro will have 10%-15% shares of the AI Server market, which we view as conservative given its early lead,” the analysts said. The stock trades at a steep valuation—it has risen more than 275% this year alone—which “leaves material room for volatility in the shares.” Still, JPMorgan believes the multiples are justified given how quickly the AI server market is growing.The firm also sees potential upside to earnings. Margins are expected to improve in the coming years as new enterprise customers, which lack the pricing power of the big cloud providers that are Super Micro’s primary customers now, increase their AI investments.","news_type":1},"isVote":1,"tweetType":1,"viewCount":20,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":288207275835648,"gmtCreate":1711385776506,"gmtModify":1711385778611,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/288207275835648","repostId":"2422051176","repostType":2,"repost":{"id":"2422051176","pubTimestamp":1711422869,"share":"https://www.laohu8.com/m/news/2422051176?lang=&edition=full","pubTime":"2024-03-26 11:14","market":"us","language":"en","title":"Micron Will Experience Strong Tailwinds As GPU Capacity Loosens Up","url":"https://stock-news.laohu8.com/highlight/detail?id=2422051176","media":"seekingalpha","summary":"Micron Technology is poised to benefit from the growing demand for AI infrastructure on top of the upswing in legacy servers.The company's advanced memory and storage chips are in high demand, with 20","content":"<html><head></head><body><ul style=\"\"><li><p>Micron Technology is poised to benefit from the growing demand for AI infrastructure on top of the upswing in legacy servers.</p></li><li><p>The company's advanced memory and storage chips are in high demand, with 2024 HBM chips already sold out and 2025 nearing capacity.</p></li><li><p>HBM3E is expected to start being accretive in e2h24 as manufacturing scales. This growth should persist as more firms adopt AI infrastructure in the years ahead.</p></li></ul><p><a href=\"https://laohu8.com/S/MU\">Micron Technology</a> is currently in the beginning phases of the next megatrend in AI infrastructure that is anticipated to experience significant growth over the coming years. As the supply capacity for GPUs loosens going into CY25, I anticipate strong tailwinds for Micron’s chips. 2024 HBM chips are already sold out and 2025 are nearing capacity. I believe this strength in demand will be strongly reflected in pricing strength for NAND and DRAM and will create a strong tailwind for revenue growth and margin expansion. I provide MU shares a BUY recommendation with a price target of $197.77/share at eFY25 EV/aEBITDA.</p><h3 id=\"id_3819664899\">Macroeconomic Rationale</h3><p>Overarching investment thesis: AI will be a major market driver for years to come as corporate use cases are uncovered, driven by software firms like Palantir (PLTR). I believe that this will push for greater expansion of regional data centers driven by firms like Oracle (ORCL), which in turn will drive the demand for infrastructure supplied by firms like Hewlett Packard Enterprise (HPE), Dell Technologies (DELL), and Super Micro Computer (SMCI). As demand for servers picks up, semiconductor designers and manufacturers will benefit from the upswing in demand as the backlogs of the above-mentioned firms grow. It has become clear that the bottleneck is derived from the semiconductor manufacturing side as this level of demand for Nvidia (NVDA) GPUs was not necessarily anticipated. As Taiwan Semiconductor (TSM) expands their manufacturing capacity, I believe the industry will slingshot into hypergrowth. My thesis for Micron is that once the GPU capacity is resolved, demand for Micron’s advanced memory and storage will accelerate beyond the current state. With eFY24 capacity sold out and much of eFY25 capacity being spoken for, I believe Micron has significant upside potential in both supplying these critical chips and the ability to price in this heightened demand.</p><h3 id=\"id_2198431984\">Micron Operations</h3><p>Micron is experiencing a significant revival of their memory chip business as the end market turns to leveraging more advanced performance accelerators that require more memory. As companies turn to utilizing AI in the workplace, requirements for semiconductors will become more sophisticated for executing these more advanced functions. Considering that we are still in the early stages of AI adoption across the corporate environment, I believe Micron has entered a new memory chip bull wave that will be realized going into CY25. This turn to more advanced infrastructure will drive growth in Micro’s HBM3E, DDR5, and data center SSD chips.</p><p>The most common theme amongst tech executives is production bottlenecks and the inability to acquire an adequate supply of GPUs. This can be seen across infrastructure integrators like Dell Technologies, Hewlett Packard Enterprise, and Super Micro Computer who each are experiencing strength in demand for their next-generation server infrastructure. Micron’s growth trajectory falls within the mix as AI-enabling infrastructure is primarily being placed into backlog as GPUs remain in tight supply. I believe that there will be a major ramp-up in CY2h24/1h25 as advanced chip manufacturers are anticipated to increase manufacturing capacity for these chips. As outlined in my report covering Nvidia, Taiwan Semiconductor will be doubling their CoWoS capacity by the end of CY24, which should allow for improved supply chains in building these advanced servers. I believe we will experience a cascading effect once this capacity comes online.</p><p>I believe one of the driving factors in Micron’s growth in eFY25 will be the adoption of their higher silicon-content chips, the HBM3E, across data center servers as this chip reduces power demand by 30% with higher capacity rates. This higher performance storage chip will be utilized in Nvidia’s Blackwell GPU, which has a 33% higher HBM attach rate. Given the growth in backlog seen through HPE and Dell, it’s prevalent that there is strong demand for this level of infrastructure. Accordingly, management at Dell recently reported sequential improvements to their legacy server business, which should create some tailwinds for Micron’s DRAM and SSP. Micron management did mention that the firm is experiencing tailwinds in cloud infrastructure as the firm experiences sequential record new peaks for SSD. I believe that as legacy server sales pick up across the infrastructure integrators, Micron should experience some uplift as a result of inventory drawdown. This can also push up prices for DRAM and NAND chips if the industry can remain disciplined.</p><p>In terms of edge compute, I believe forecasts may be overstated for CY24 as cost-cutting efforts take effect. According to Gartner’s 2024 IT spend forecast, CIOs surveyed anticipate most IT-related projects to be focused on cost control. The survey also suggested that the use of GenAI in the workplace will likely not take hold until 2025. With this in mind, I anticipate a cascading effect in IT spend starting with a ramp-up in servers in CY24 through 1h25 and further as GPU capacity becomes more available, followed by investments in higher gig-rate networking equipment, and finally investments in edge AI-enabled workstations. My thesis is predicated on the notion that there isn’t much use for higher-powered workstations if they aren’t fully being utilized due to the lack of the back-end infrastructure and data in transit. With these assumptions, I believe AI at the edge will ramp up in later 2025 or 2026. Given the rapid pace of evolution across the AI/ML space, I believe organizations will opt to delay investing in edge compute as early iterations may be phased out or replaced faster than one might anticipate.</p><p>The other half of my investment thesis is consumer vs. corporate. I believe consumer spending in the next-generation AI-enabled PCs, laptops, and smartphones will not see a large ramp-up until mid-2025 as consumers are faced with heightened inflationary pressures that are driving up the cost of living. I believe consumers may delay their refresh cycle or wait for future iterations for the same reasons as listed above. As mentioned in my report covering Broadcom (AVGO), I anticipate consumer devices to remain relatively flat throughout CY24 as a result of these inflationary pressures.</p><p>Overall, I believe the qualitative story aligns to benefit Micron in the coming years, assuming that demand for AI infrastructure continues to experience growing demand. As more industries move into developing LLMs and neural networks for aggregating massive amounts of data to optimize operations, I believe that what we have seen is just a drop in the bucket in terms of growth.</p><p>Looking ahead to eFY24, management is very optimistic in terms of growth and pricing. As the supply/demand narrative becomes more balanced, Micron should have the flexibility to price up NAND and DRAM. This will partially be driven by the offsetting production effects of manufacturing the higher capacity chips as manufacturing capacity is relatively limited. Building a forecast for financials, I do not expect HBM to reach economies of scale until late 2024-to-early-2025. Management anticipates data center server shipments to grow by mid-to-high single digits in CY24 as traditional servers return to growth. As mentioned above, I anticipate AI servers to be a slow burn throughout 2024 and I expect sales for these servers to pick up throughout 2025 as GPUs remain in tight supply. This will be driven by Taiwan Semiconductor increasing their CoWoS capacity towards the end of 2024. As we get closer to the ramp-up phase, I anticipate HBM3E to pick up significantly as the product will be a part of Nvidia’s H200 Tensor Core GPUs.</p><p>As for automotive and industrials, I believe these two segments will be a mixed bag as Marvell Technology (MRVL) voiced headwinds in industrials with strength in automotive. Even in a flat automotive sales market, I believe Micron will still have the ability to realize growth as vehicle ADAS systems and infotainment systems become more advanced and require more chips to function.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d5f2a1eb59e2df5a78b4885beb310d2f\" tg-width=\"640\" tg-height=\"86\"/></p><p>Corporate Reports</p><p>As for operations, I anticipate Micron to experience a gradual upswing in margins throughout the duration of eFY24 and significant strength in eFY25 as advanced nodes scale. I anticipate adjusted free cash flow to be near breakeven for eFY24 and significant growth in eFY25 as a result of high demand and operational scale for their advanced server chips. I believe that eFY25 will be a strong year for Micron as all operating segments, including edge devices, data center, and automotive to bring in positive cash flow for the company.</p><h3 id=\"id_2451950508\">Valuation & Shareholder Value</h3><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/54db644a3d30c1ff62510721228b8317\" tg-width=\"640\" tg-height=\"99\"/></p><p>Corporate Reports</p><p>MU shares are currently trading at a mid-cycle 29.11x EV/aEBITDA which should price into the valuation as the firm’s margins reflects the forecasted growth in the coming years. I anticipate MU’s valuation to normalize during this period while simultaneously experiencing significant share appreciation.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a5c0834601edcc2f4522b96fd26c079c\" tg-width=\"640\" tg-height=\"127\"/></p><p>Corporate Reports</p><p>Considering multiple scenarios for share price trajectory, I believe 12x EV/aEBITDA is a strong midpoint for shares as the firm goes through its upcycle. For the blue-sky scenario to occur, I believe Micron will need to experience significantly higher-than-anticipated growth predicated on AI infrastructure demand. Though this scenario is perfectly feasible, growth will be determined by exogenous effects primarily resulting from capacity debottlenecking. The gray-sky scenario will be the result of these bottlenecks not resolving as quickly as anticipated, leading to a build-up in inventory which may result in softer NAND and DRAM pricing and a softer upswing. Geopolitical is a risk factor to consider as tensions between China and Taiwan remain heightened. This may result in tighter GPU supply which can trickle into capacity demand for Micron’s memory and storage chips. Overall, I am bullish on MU and anticipate the upswing to continue throughout the cycle. I provide MU shares a BUY recommendation with a price target of $197.77/share at 11.58x eFY25 EV/aEBITDA.</p></body></html>","source":"seekingalpha","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>Micron Will Experience Strong Tailwinds As GPU Capacity Loosens Up</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicron Will Experience Strong Tailwinds As GPU Capacity Loosens Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-26 11:14 GMT+8 <a href=https://seekingalpha.com/article/4680240-micron-will-experience-strong-tailwinds-as-gpu-capacity-loosens-up><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Micron Technology is poised to benefit from the growing demand for AI infrastructure on top of the upswing in legacy servers.The company's advanced memory and storage chips are in high demand, with ...</p>\n\n<a href=\"https://seekingalpha.com/article/4680240-micron-will-experience-strong-tailwinds-as-gpu-capacity-loosens-up\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4587":"ChatGPT概念","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC","BK4527":"明星科技股","LU0109392836.USD":"富兰克林科技股A","BK4588":"碎股","BK4526":"热门中概股","MU":"美光科技","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU1489326972.SGD":"First Eagle Amundi International AHS-MD SGD-H","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund SGD","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU0861579265.USD":"联博低波幅策略股票基金A","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0444971666.USD":"天利全球科技基金","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","BK4585":"ETF&股票定投概念","BK4529":"IDC概念","BK4591":"室温超导概念","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4528":"SaaS概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0541501648.USD":"ALLSPRING EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4592":"伊斯兰概念","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU1506573853.SGD":"MANULIFE GF GLOBAL EQUITY \"AA\" (SGD) INC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H"},"source_url":"https://seekingalpha.com/article/4680240-micron-will-experience-strong-tailwinds-as-gpu-capacity-loosens-up","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2422051176","content_text":"Micron Technology is poised to benefit from the growing demand for AI infrastructure on top of the upswing in legacy servers.The company's advanced memory and storage chips are in high demand, with 2024 HBM chips already sold out and 2025 nearing capacity.HBM3E is expected to start being accretive in e2h24 as manufacturing scales. This growth should persist as more firms adopt AI infrastructure in the years ahead.Micron Technology is currently in the beginning phases of the next megatrend in AI infrastructure that is anticipated to experience significant growth over the coming years. As the supply capacity for GPUs loosens going into CY25, I anticipate strong tailwinds for Micron’s chips. 2024 HBM chips are already sold out and 2025 are nearing capacity. I believe this strength in demand will be strongly reflected in pricing strength for NAND and DRAM and will create a strong tailwind for revenue growth and margin expansion. I provide MU shares a BUY recommendation with a price target of $197.77/share at eFY25 EV/aEBITDA.Macroeconomic RationaleOverarching investment thesis: AI will be a major market driver for years to come as corporate use cases are uncovered, driven by software firms like Palantir (PLTR). I believe that this will push for greater expansion of regional data centers driven by firms like Oracle (ORCL), which in turn will drive the demand for infrastructure supplied by firms like Hewlett Packard Enterprise (HPE), Dell Technologies (DELL), and Super Micro Computer (SMCI). As demand for servers picks up, semiconductor designers and manufacturers will benefit from the upswing in demand as the backlogs of the above-mentioned firms grow. It has become clear that the bottleneck is derived from the semiconductor manufacturing side as this level of demand for Nvidia (NVDA) GPUs was not necessarily anticipated. As Taiwan Semiconductor (TSM) expands their manufacturing capacity, I believe the industry will slingshot into hypergrowth. My thesis for Micron is that once the GPU capacity is resolved, demand for Micron’s advanced memory and storage will accelerate beyond the current state. With eFY24 capacity sold out and much of eFY25 capacity being spoken for, I believe Micron has significant upside potential in both supplying these critical chips and the ability to price in this heightened demand.Micron OperationsMicron is experiencing a significant revival of their memory chip business as the end market turns to leveraging more advanced performance accelerators that require more memory. As companies turn to utilizing AI in the workplace, requirements for semiconductors will become more sophisticated for executing these more advanced functions. Considering that we are still in the early stages of AI adoption across the corporate environment, I believe Micron has entered a new memory chip bull wave that will be realized going into CY25. This turn to more advanced infrastructure will drive growth in Micro’s HBM3E, DDR5, and data center SSD chips.The most common theme amongst tech executives is production bottlenecks and the inability to acquire an adequate supply of GPUs. This can be seen across infrastructure integrators like Dell Technologies, Hewlett Packard Enterprise, and Super Micro Computer who each are experiencing strength in demand for their next-generation server infrastructure. Micron’s growth trajectory falls within the mix as AI-enabling infrastructure is primarily being placed into backlog as GPUs remain in tight supply. I believe that there will be a major ramp-up in CY2h24/1h25 as advanced chip manufacturers are anticipated to increase manufacturing capacity for these chips. As outlined in my report covering Nvidia, Taiwan Semiconductor will be doubling their CoWoS capacity by the end of CY24, which should allow for improved supply chains in building these advanced servers. I believe we will experience a cascading effect once this capacity comes online.I believe one of the driving factors in Micron’s growth in eFY25 will be the adoption of their higher silicon-content chips, the HBM3E, across data center servers as this chip reduces power demand by 30% with higher capacity rates. This higher performance storage chip will be utilized in Nvidia’s Blackwell GPU, which has a 33% higher HBM attach rate. Given the growth in backlog seen through HPE and Dell, it’s prevalent that there is strong demand for this level of infrastructure. Accordingly, management at Dell recently reported sequential improvements to their legacy server business, which should create some tailwinds for Micron’s DRAM and SSP. Micron management did mention that the firm is experiencing tailwinds in cloud infrastructure as the firm experiences sequential record new peaks for SSD. I believe that as legacy server sales pick up across the infrastructure integrators, Micron should experience some uplift as a result of inventory drawdown. This can also push up prices for DRAM and NAND chips if the industry can remain disciplined.In terms of edge compute, I believe forecasts may be overstated for CY24 as cost-cutting efforts take effect. According to Gartner’s 2024 IT spend forecast, CIOs surveyed anticipate most IT-related projects to be focused on cost control. The survey also suggested that the use of GenAI in the workplace will likely not take hold until 2025. With this in mind, I anticipate a cascading effect in IT spend starting with a ramp-up in servers in CY24 through 1h25 and further as GPU capacity becomes more available, followed by investments in higher gig-rate networking equipment, and finally investments in edge AI-enabled workstations. My thesis is predicated on the notion that there isn’t much use for higher-powered workstations if they aren’t fully being utilized due to the lack of the back-end infrastructure and data in transit. With these assumptions, I believe AI at the edge will ramp up in later 2025 or 2026. Given the rapid pace of evolution across the AI/ML space, I believe organizations will opt to delay investing in edge compute as early iterations may be phased out or replaced faster than one might anticipate.The other half of my investment thesis is consumer vs. corporate. I believe consumer spending in the next-generation AI-enabled PCs, laptops, and smartphones will not see a large ramp-up until mid-2025 as consumers are faced with heightened inflationary pressures that are driving up the cost of living. I believe consumers may delay their refresh cycle or wait for future iterations for the same reasons as listed above. As mentioned in my report covering Broadcom (AVGO), I anticipate consumer devices to remain relatively flat throughout CY24 as a result of these inflationary pressures.Overall, I believe the qualitative story aligns to benefit Micron in the coming years, assuming that demand for AI infrastructure continues to experience growing demand. As more industries move into developing LLMs and neural networks for aggregating massive amounts of data to optimize operations, I believe that what we have seen is just a drop in the bucket in terms of growth.Looking ahead to eFY24, management is very optimistic in terms of growth and pricing. As the supply/demand narrative becomes more balanced, Micron should have the flexibility to price up NAND and DRAM. This will partially be driven by the offsetting production effects of manufacturing the higher capacity chips as manufacturing capacity is relatively limited. Building a forecast for financials, I do not expect HBM to reach economies of scale until late 2024-to-early-2025. Management anticipates data center server shipments to grow by mid-to-high single digits in CY24 as traditional servers return to growth. As mentioned above, I anticipate AI servers to be a slow burn throughout 2024 and I expect sales for these servers to pick up throughout 2025 as GPUs remain in tight supply. This will be driven by Taiwan Semiconductor increasing their CoWoS capacity towards the end of 2024. As we get closer to the ramp-up phase, I anticipate HBM3E to pick up significantly as the product will be a part of Nvidia’s H200 Tensor Core GPUs.As for automotive and industrials, I believe these two segments will be a mixed bag as Marvell Technology (MRVL) voiced headwinds in industrials with strength in automotive. Even in a flat automotive sales market, I believe Micron will still have the ability to realize growth as vehicle ADAS systems and infotainment systems become more advanced and require more chips to function.Corporate ReportsAs for operations, I anticipate Micron to experience a gradual upswing in margins throughout the duration of eFY24 and significant strength in eFY25 as advanced nodes scale. I anticipate adjusted free cash flow to be near breakeven for eFY24 and significant growth in eFY25 as a result of high demand and operational scale for their advanced server chips. I believe that eFY25 will be a strong year for Micron as all operating segments, including edge devices, data center, and automotive to bring in positive cash flow for the company.Valuation & Shareholder ValueCorporate ReportsMU shares are currently trading at a mid-cycle 29.11x EV/aEBITDA which should price into the valuation as the firm’s margins reflects the forecasted growth in the coming years. I anticipate MU’s valuation to normalize during this period while simultaneously experiencing significant share appreciation.Corporate ReportsConsidering multiple scenarios for share price trajectory, I believe 12x EV/aEBITDA is a strong midpoint for shares as the firm goes through its upcycle. For the blue-sky scenario to occur, I believe Micron will need to experience significantly higher-than-anticipated growth predicated on AI infrastructure demand. Though this scenario is perfectly feasible, growth will be determined by exogenous effects primarily resulting from capacity debottlenecking. The gray-sky scenario will be the result of these bottlenecks not resolving as quickly as anticipated, leading to a build-up in inventory which may result in softer NAND and DRAM pricing and a softer upswing. Geopolitical is a risk factor to consider as tensions between China and Taiwan remain heightened. This may result in tighter GPU supply which can trickle into capacity demand for Micron’s memory and storage chips. Overall, I am bullish on MU and anticipate the upswing to continue throughout the cycle. I provide MU shares a BUY recommendation with a price target of $197.77/share at 11.58x eFY25 EV/aEBITDA.","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":288146608353488,"gmtCreate":1711370883005,"gmtModify":1711370884951,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/288146608353488","repostId":"2422860567","repostType":2,"repost":{"id":"2422860567","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1711358532,"share":"https://www.laohu8.com/m/news/2422860567?lang=&edition=full","pubTime":"2024-03-25 17:22","market":"us","language":"en","title":"Tesla Stock Is Falling. Here’s the Latest EV News","url":"https://stock-news.laohu8.com/highlight/detail?id=2422860567","media":"Dow Jones","summary":"Tesla stock was falling in early trading Monday.The electric-vehicle maker’s shares slipped 1.2 % in the premarket, while futures on the S&P 500 fell 0.2%, as did futures for the Nasdaq Composite.Tesl","content":"<html><head></head><body><p style=\"text-align: start;\">Tesla stock was falling in early trading Monday.</p><p style=\"text-align: start;\">The electric-vehicle maker’s shares slipped 1.1% in the premarket, while futures on the S&P 500 fell 0.1%, as did futures for the Nasdaq Composite.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a2783257249f5b572c21b658be21a19a\" tg-width=\"846\" tg-height=\"618\"/></p><p style=\"text-align: start;\">Tesla is coping with increasing competition and slowing demand growth for its vehicles. At around $170 now, Tesla stock is well off its 52-week high of $299.29 set last summer.</p><p>Tesla stock move came as Chinese EV maker BYD, which overtook Tesla as the biggest maker of electric cars in the fourth quarter, on Monday lowered the starting price of its Seal sedan by about 5%, Reuters reported.</p><p>Separately Nissan, the Japanese car maker, announced a new medium-term business plan that calls for a dozen new EV models and the reducing of production costs of its electric vehicles by 30% by 2030.</p><p>Shares of other Tesla peers were also moving. NIO shares were up about 0.6% in early trading, and Ford Motor stock was flat. General Motors stock was down 0.1% while Lucid stock was down 0.4% in premarket trading. Rivian shares slipped 0.7%.</p><p>Trading volume of 75.58 million at Friday close remained below its 65-day average volume of 104 million.</p></body></html>","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>Tesla Stock Is Falling. Here’s the Latest EV News</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is Falling. Here’s the Latest EV News\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-03-25 17:22</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: start;\">Tesla stock was falling in early trading Monday.</p><p style=\"text-align: start;\">The electric-vehicle maker’s shares slipped 1.1% in the premarket, while futures on the S&P 500 fell 0.1%, as did futures for the Nasdaq Composite.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a2783257249f5b572c21b658be21a19a\" tg-width=\"846\" tg-height=\"618\"/></p><p style=\"text-align: start;\">Tesla is coping with increasing competition and slowing demand growth for its vehicles. At around $170 now, Tesla stock is well off its 52-week high of $299.29 set last summer.</p><p>Tesla stock move came as Chinese EV maker BYD, which overtook Tesla as the biggest maker of electric cars in the fourth quarter, on Monday lowered the starting price of its Seal sedan by about 5%, Reuters reported.</p><p>Separately Nissan, the Japanese car maker, announced a new medium-term business plan that calls for a dozen new EV models and the reducing of production costs of its electric vehicles by 30% by 2030.</p><p>Shares of other Tesla peers were also moving. NIO shares were up about 0.6% in early trading, and Ford Motor stock was flat. General Motors stock was down 0.1% while Lucid stock was down 0.4% in premarket trading. Rivian shares slipped 0.7%.</p><p>Trading volume of 75.58 million at Friday close remained below its 65-day average volume of 104 million.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","BK4592":"伊斯兰概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4585":"ETF&股票定投概念","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","TSLA":"特斯拉","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","BK4509":"腾讯概念","LU0056508442.USD":"贝莱德世界科技基金A2","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4527":"明星科技股","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","BK4588":"碎股","BK4526":"热门中概股","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","BK4574":"无人驾驶","LU2063271972.USD":"富兰克林创新领域基金","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","BK4561":"索罗斯持仓","BK4505":"高瓴资本持仓","LU0823414478.USD":"法巴经典能源转换基金","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","BK4581":"高盛持仓","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4504":"桥水持仓","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2422860567","content_text":"Tesla stock was falling in early trading Monday.The electric-vehicle maker’s shares slipped 1.1% in the premarket, while futures on the S&P 500 fell 0.1%, as did futures for the Nasdaq Composite.Tesla is coping with increasing competition and slowing demand growth for its vehicles. At around $170 now, Tesla stock is well off its 52-week high of $299.29 set last summer.Tesla stock move came as Chinese EV maker BYD, which overtook Tesla as the biggest maker of electric cars in the fourth quarter, on Monday lowered the starting price of its Seal sedan by about 5%, Reuters reported.Separately Nissan, the Japanese car maker, announced a new medium-term business plan that calls for a dozen new EV models and the reducing of production costs of its electric vehicles by 30% by 2030.Shares of other Tesla peers were also moving. NIO shares were up about 0.6% in early trading, and Ford Motor stock was flat. General Motors stock was down 0.1% while Lucid stock was down 0.4% in premarket trading. Rivian shares slipped 0.7%.Trading volume of 75.58 million at Friday close remained below its 65-day average volume of 104 million.","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":288146554409136,"gmtCreate":1711370869561,"gmtModify":1711370871608,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/288146554409136","repostId":"2422556792","repostType":2,"repost":{"id":"2422556792","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1711358494,"share":"https://www.laohu8.com/m/news/2422556792?lang=&edition=full","pubTime":"2024-03-25 17:21","market":"fut","language":"en","title":"U.S. Stocks To Watch: United Airlines, Intel, AMD, Masimo, and More","url":"https://stock-news.laohu8.com/highlight/detail?id=2422556792","media":"Dow Jones","summary":"Stock futures pointed lower Monday ahead of a week filled with economic data, including the personal consumption expenditures price index, the Federal Reserve's preferred inflation measure.Federal Aviation Administration officials recently have become concerned by a high rate of safety problems at United Airlines in recent weeks and are stepping up scrutiny of the carrier, The Wall Street Journal reported, citing people familiar with the matter. Sasha Johnson, United's vice president of corporate safety, said in a memo seen by the Journal that \"the number of safety-related events in recent weeks have rightfully caused us to pause and evaluate whether there is anything we can and should do differently.\" United shares were down 1.1% in premarket trading.Intel was falling 2.2% and Advanced Micro Devices declined 2.2% following a report from the Financial Times that said China has begun implementing guidelines that will have microprocessors made by the chip makers phased out of government ","content":"<html><head></head><body><p>Stock futures pointed lower Monday ahead of a week filled with economic data, including the personal consumption expenditures price index, the Federal Reserve's preferred inflation measure.</p><p>These stocks were poised to make moves Monday:</p><p>Federal Aviation Administration officials recently have become concerned by a high rate of safety problems at <strong>United Airlines</strong> in recent weeks and are stepping up scrutiny of the carrier, The Wall Street Journal reported, citing people familiar with the matter. Sasha Johnson, United's vice president of corporate safety, said in a memo seen by the Journal that "the number of safety-related events in recent weeks have rightfully caused us to pause and evaluate whether there is anything we can and should do differently." United shares were down 1.7% in premarket trading.</p><p><strong>Intel</strong> was falling 2.5% and <strong>Advanced Micro Devices</strong> declined 2.2% following a report from the Financial Times that said China has begun implementing guidelines that will have microprocessors made by the chip makers phased out of government PCs and servers. The guidance, issued Dec. 26 with little fanfare, also will affect Microsoft's Windows operating system and foreign-made database software as China favors domestic options, the report said. Microsoft slipped 0.5%.</p><p><strong>Masimo</strong>, the medical technology company, said it would separate its consumer business. The separation will include Masimo's consumer audio and consumer health products. It sees the move improving the profitability of its healthcare business. Separately, the Journal reported that activist investor Politan Capital Management, which holds two seats on the board of Masimo, i s planning a proxy fight for two more. Masimo shares jumped 14% in after-hours trading Friday.</p><p>Earnings reports are expected this week from <a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>, Carnival, McCormick & Co., GameStop, Progress Software, Cintas, Paychex, and Jefferies Financial.</p></body></html>","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>U.S. Stocks To Watch: United Airlines, Intel, AMD, Masimo, and More</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Stocks To Watch: United Airlines, Intel, AMD, Masimo, and More\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-03-25 17:21</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Stock futures pointed lower Monday ahead of a week filled with economic data, including the personal consumption expenditures price index, the Federal Reserve's preferred inflation measure.</p><p>These stocks were poised to make moves Monday:</p><p>Federal Aviation Administration officials recently have become concerned by a high rate of safety problems at <strong>United Airlines</strong> in recent weeks and are stepping up scrutiny of the carrier, The Wall Street Journal reported, citing people familiar with the matter. Sasha Johnson, United's vice president of corporate safety, said in a memo seen by the Journal that "the number of safety-related events in recent weeks have rightfully caused us to pause and evaluate whether there is anything we can and should do differently." United shares were down 1.7% in premarket trading.</p><p><strong>Intel</strong> was falling 2.5% and <strong>Advanced Micro Devices</strong> declined 2.2% following a report from the Financial Times that said China has begun implementing guidelines that will have microprocessors made by the chip makers phased out of government PCs and servers. The guidance, issued Dec. 26 with little fanfare, also will affect Microsoft's Windows operating system and foreign-made database software as China favors domestic options, the report said. Microsoft slipped 0.5%.</p><p><strong>Masimo</strong>, the medical technology company, said it would separate its consumer business. The separation will include Masimo's consumer audio and consumer health products. It sees the move improving the profitability of its healthcare business. Separately, the Journal reported that activist investor Politan Capital Management, which holds two seats on the board of Masimo, i s planning a proxy fight for two more. Masimo shares jumped 14% in after-hours trading Friday.</p><p>Earnings reports are expected this week from <a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a>, Carnival, McCormick & Co., GameStop, Progress Software, Cintas, Paychex, and Jefferies Financial.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","BK4525":"远程办公概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4581":"高盛持仓","MSFT":"微软","LU0056508442.USD":"贝莱德世界科技基金A2","UAL":"联合大陆航空","BK4585":"ETF&股票定投概念","BK4579":"人工智能","BK4592":"伊斯兰概念","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4529":"IDC概念","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","BK4211":"区域性银行","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","BK4504":"桥水持仓","BK4528":"SaaS概念","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","BK4588":"碎股","LU0171293334.USD":"贝莱德英国基金A2","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0109392836.USD":"富兰克林科技股A","BK4587":"ChatGPT概念","LU0097036916.USD":"贝莱德美国增长A2 USD","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","GFS":"GLOBALFOUNDRIES Inc.","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","BK4575":"芯片概念","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","BK4503":"景林资产持仓","BK4576":"AR","AMD":"美国超微公司","BK4573":"虚拟现实","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0149725797.USD":"汇丰美国股市经济规模基金","INTC":"英特尔","MASI":"麦斯莫医疗","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4527":"明星科技股","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","UBCP":"联合合众银行","BK4500":"航空公司","BK4577":"网络游戏","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2422556792","content_text":"Stock futures pointed lower Monday ahead of a week filled with economic data, including the personal consumption expenditures price index, the Federal Reserve's preferred inflation measure.These stocks were poised to make moves Monday:Federal Aviation Administration officials recently have become concerned by a high rate of safety problems at United Airlines in recent weeks and are stepping up scrutiny of the carrier, The Wall Street Journal reported, citing people familiar with the matter. Sasha Johnson, United's vice president of corporate safety, said in a memo seen by the Journal that \"the number of safety-related events in recent weeks have rightfully caused us to pause and evaluate whether there is anything we can and should do differently.\" United shares were down 1.7% in premarket trading.Intel was falling 2.5% and Advanced Micro Devices declined 2.2% following a report from the Financial Times that said China has begun implementing guidelines that will have microprocessors made by the chip makers phased out of government PCs and servers. The guidance, issued Dec. 26 with little fanfare, also will affect Microsoft's Windows operating system and foreign-made database software as China favors domestic options, the report said. Microsoft slipped 0.5%.Masimo, the medical technology company, said it would separate its consumer business. The separation will include Masimo's consumer audio and consumer health products. It sees the move improving the profitability of its healthcare business. Separately, the Journal reported that activist investor Politan Capital Management, which holds two seats on the board of Masimo, i s planning a proxy fight for two more. Masimo shares jumped 14% in after-hours trading Friday.Earnings reports are expected this week from Walgreens Boots Alliance, Carnival, McCormick & Co., GameStop, Progress Software, Cintas, Paychex, and Jefferies Financial.","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":288145782259968,"gmtCreate":1711370763426,"gmtModify":1711370767310,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/288145782259968","repostId":"2422351672","repostType":2,"repost":{"id":"2422351672","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1711375800,"share":"https://www.laohu8.com/m/news/2422351672?lang=&edition=full","pubTime":"2024-03-25 22:10","market":"us","language":"en","title":"JPMorgan Initiates Coverage of Super Micro's Stock With an Overweight Rating and $1,150 Target Price","url":"https://stock-news.laohu8.com/highlight/detail?id=2422351672","media":"Dow Jones","summary":"A new bull says Super Micro’s revenue and earnings growth rates are compelling when compared to those of other hardware playersSuper Micro has a compelling growth profile, according to JPMorgan.Anothe","content":"<html><head></head><body><p>A new bull says Super Micro’s revenue and earnings growth rates are compelling when compared to those of other hardware players</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7fdc01c1fca4c5bba0085c11fd630a87\" title=\"Super Micro has a compelling growth profile, according to JPMorgan.\" tg-width=\"920\" tg-height=\"610\"/><span>Super Micro has a compelling growth profile, according to JPMorgan.</span></p><p>Another analyst has joined the bull camp on shares of Super Micro Computer Inc., which have experienced a nearly 800% surge over the past 12 months.</p><p style=\"text-align: start;\">In light of that run, the stock trades at about 36 times JPMorgan’s estimates for earnings per share over the next 12 months. That’s a “premium valuation,” according to JPMorgan analyst Samik Chatterjee, but one that he thinks is justified given how quickly the artificial-intelligence-server market is growing.</p><p>He initiated coverage of Super Micro’s stock with an overweight rating and $1,150 target price Monday. That target implies 18% upside from Friday’s close of $972.74.</p><p>Super Micro shares jumped 7% in morning trading Monday.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/129c6615e8812b0de00b21ae9c491ab8\" tg-width=\"843\" tg-height=\"621\"/></p><p>Chatterjee noted that Super Micro stands out positively on a couple of metrics. The server maker has the highest projected compound annual growth rate for revenue and earnings per share among traditional hardware companies, by his math.</p><p style=\"text-align: start;\">He forecasts that Super Micro can grow revenue at a 43% annual clip between fiscal 2023 and fiscal 2027, a projection that assumes the company has about 10% to 15% share of the AI server market by the end of that period. And that estimate “still appears conservative given the early lead the company has in the AI market,” Chatterjee said.</p><p>Super Micro could also grow earnings per share at a 43% compound annual rate over the same span.</p><p style=\"text-align: start;\">“The early phase of the AI compute investments cycle is being driven by cloud hyperscalers and large Tier 2 cloud service providers which have pricing power and [are] driving Super Micro to sacrifice on gross margins,” he wrote. But enterprise customers are poised to make up the bulk of revenue for the AI server market by 2027 and 2028, according to Chatterjee, which should help the company pick up its gross margins.</p><p>He pointed to “potential upside in earnings” as another reason he recommends the stock.</p><p style=\"text-align: start;\">Overall, Chatterjee said he likes Super Micro’s position “leading” the AI-computing market. “We expect the leadership to continue, led by a balance of custom-built solutions and fast time to market, although potential upside is more likely from rapid expansion in the AI server market rather than expansion of the already premium valuation multiple,” he wrote.</p></body></html>","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>JPMorgan Initiates Coverage of Super Micro's Stock With an Overweight Rating and $1,150 Target Price</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJPMorgan Initiates Coverage of Super Micro's Stock With an Overweight Rating and $1,150 Target Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-03-25 22:10</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>A new bull says Super Micro’s revenue and earnings growth rates are compelling when compared to those of other hardware players</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7fdc01c1fca4c5bba0085c11fd630a87\" title=\"Super Micro has a compelling growth profile, according to JPMorgan.\" tg-width=\"920\" tg-height=\"610\"/><span>Super Micro has a compelling growth profile, according to JPMorgan.</span></p><p>Another analyst has joined the bull camp on shares of Super Micro Computer Inc., which have experienced a nearly 800% surge over the past 12 months.</p><p style=\"text-align: start;\">In light of that run, the stock trades at about 36 times JPMorgan’s estimates for earnings per share over the next 12 months. That’s a “premium valuation,” according to JPMorgan analyst Samik Chatterjee, but one that he thinks is justified given how quickly the artificial-intelligence-server market is growing.</p><p>He initiated coverage of Super Micro’s stock with an overweight rating and $1,150 target price Monday. That target implies 18% upside from Friday’s close of $972.74.</p><p>Super Micro shares jumped 7% in morning trading Monday.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/129c6615e8812b0de00b21ae9c491ab8\" tg-width=\"843\" tg-height=\"621\"/></p><p>Chatterjee noted that Super Micro stands out positively on a couple of metrics. The server maker has the highest projected compound annual growth rate for revenue and earnings per share among traditional hardware companies, by his math.</p><p style=\"text-align: start;\">He forecasts that Super Micro can grow revenue at a 43% annual clip between fiscal 2023 and fiscal 2027, a projection that assumes the company has about 10% to 15% share of the AI server market by the end of that period. And that estimate “still appears conservative given the early lead the company has in the AI market,” Chatterjee said.</p><p>Super Micro could also grow earnings per share at a 43% compound annual rate over the same span.</p><p style=\"text-align: start;\">“The early phase of the AI compute investments cycle is being driven by cloud hyperscalers and large Tier 2 cloud service providers which have pricing power and [are] driving Super Micro to sacrifice on gross margins,” he wrote. But enterprise customers are poised to make up the bulk of revenue for the AI server market by 2027 and 2028, according to Chatterjee, which should help the company pick up its gross margins.</p><p>He pointed to “potential upside in earnings” as another reason he recommends the stock.</p><p style=\"text-align: start;\">Overall, Chatterjee said he likes Super Micro’s position “leading” the AI-computing market. “We expect the leadership to continue, led by a balance of custom-built solutions and fast time to market, although potential upside is more likely from rapid expansion in the AI server market rather than expansion of the already premium valuation multiple,” he wrote.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4588":"碎股","SMCI":"超微电脑","BK4170":"电脑硬件、储存设备及电脑周边","BK4585":"ETF&股票定投概念","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2422351672","content_text":"A new bull says Super Micro’s revenue and earnings growth rates are compelling when compared to those of other hardware playersSuper Micro has a compelling growth profile, according to JPMorgan.Another analyst has joined the bull camp on shares of Super Micro Computer Inc., which have experienced a nearly 800% surge over the past 12 months.In light of that run, the stock trades at about 36 times JPMorgan’s estimates for earnings per share over the next 12 months. That’s a “premium valuation,” according to JPMorgan analyst Samik Chatterjee, but one that he thinks is justified given how quickly the artificial-intelligence-server market is growing.He initiated coverage of Super Micro’s stock with an overweight rating and $1,150 target price Monday. That target implies 18% upside from Friday’s close of $972.74.Super Micro shares jumped 7% in morning trading Monday.Chatterjee noted that Super Micro stands out positively on a couple of metrics. The server maker has the highest projected compound annual growth rate for revenue and earnings per share among traditional hardware companies, by his math.He forecasts that Super Micro can grow revenue at a 43% annual clip between fiscal 2023 and fiscal 2027, a projection that assumes the company has about 10% to 15% share of the AI server market by the end of that period. And that estimate “still appears conservative given the early lead the company has in the AI market,” Chatterjee said.Super Micro could also grow earnings per share at a 43% compound annual rate over the same span.“The early phase of the AI compute investments cycle is being driven by cloud hyperscalers and large Tier 2 cloud service providers which have pricing power and [are] driving Super Micro to sacrifice on gross margins,” he wrote. But enterprise customers are poised to make up the bulk of revenue for the AI server market by 2027 and 2028, according to Chatterjee, which should help the company pick up its gross margins.He pointed to “potential upside in earnings” as another reason he recommends the stock.Overall, Chatterjee said he likes Super Micro’s position “leading” the AI-computing market. “We expect the leadership to continue, led by a balance of custom-built solutions and fast time to market, although potential upside is more likely from rapid expansion in the AI server market rather than expansion of the already premium valuation multiple,” he wrote.","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":287995493376264,"gmtCreate":1711334073850,"gmtModify":1711334077584,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/287995493376264","repostId":"2421632473","repostType":2,"repost":{"id":"2421632473","pubTimestamp":1711332349,"share":"https://www.laohu8.com/m/news/2421632473?lang=&edition=full","pubTime":"2024-03-25 10:05","market":"us","language":"en","title":"3 Dangerous Myths About Nvidia Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=2421632473","media":"Motley Fool","summary":"Rumors of a bubble have been exaggerated.","content":"<html><head></head><body><ul style=\"\"><li><p>Nvidia bears are claiming the stock's gains are unsustainable.</p></li><li><p>The AI boom has important differences from the dot-com bubble.</p></li><li><p>Nvidia's valuation seems reasonable for its fundamentals.</p></li></ul><p>Nvidia needs little introduction at this point. The GPU maker dominates the artificial intelligence (AI) era. It's become the third-most-valuable company in the world behind only Microsoft and Apple, and its revenue more than tripled in its most recent quarter, driving even faster growth on the bottom line.</p><p>Nvidia stock jumped more than 500% since the start of 2023. But with its gains accelerating in the first few months of 2024, a new narrative has emerged around the stock, and with it, some pernicious myths. Some investors now believe the stock is in a bubble that will soon collapse, believing that the stock has run too high, too fast and that its profits aren't sustainable.</p><p>However, many of the arguments that form that thesis fall apart upon closer examination. Keep reading to see three such talking points that investors should be skeptical of.</p><h2 id=\"id_670995565\">1. Nvidia is like Cisco in 2000</h2><p>There's been no shortage of comparisons between the AI boom and the dot-com bubble of the 1990s, and many tech CEOs have likened the disruptive potential of AI to the early days of the internet. Of the famous busts from that era, <strong>Cisco Systems</strong> sticks out as an analogue for Nvidia. Like Nvidia, Cisco was seen as the picks-and-shovels play of that period, selling routers and switches that were essential for internet connectivity.</p><p>However, there seem to be more differences than similarities between Nvidia now and Cisco then. Nvidia's competitive advantages are more entrenched than Cisco's were, and it's been building its empire for far longer. Nvidia invented the GPU in 1999 and has been far and away the leader in the category since. It's also built an ecosystem to complement its GPU hardware family, which centers around CUDA (Compute Unified Device Architecture), a parallel computing platform it created in 2006 that enables general-purpose computing on Nvidia's GPUs. CUDA essentially functions as a software layer on top of its hardware. While Cisco was just a seller of hardware, Nvidia is selling an entire tech ecosystem.</p><p>Nvidia is also growing much faster than Cisco ever was during the dot-com boom. In fact, Cisco's earnings per share only increased 140% total from 1996 to 2000, about 25% annually, rising from $0.15 to $0.36 due in part to excessive share-based compensation. Additionally, Cisco's margins actually declined during that period.</p><p>Nvidia, on the other hand, reported a 588% increase in generally accepted accounting principles (GAAP) earnings per share in fiscal 2024, outpacing the stock's gains; its margins exploded, and its share count fell over the year.</p><p>Overall, Nvidia is a much stronger company than Cisco was during the dot-com boom, and Nvidia stock hasn't gained nearly as much as Cisco did.</p><h2 id=\"id_3111474096\">2. Competition will erase Nvidia's AI leadership</h2><p>Another core tenet of the Nvidia bear thesis is that competition will level the playing field in AI. While it's true that AI GPU competition is already arriving in the form of products like <strong>Advanced Micro Devices</strong>' MI300 and <strong>Intel</strong>'s Gaudi3, AI components are not a commodity product, and this won't be a race to the bottom.</p><p>Because of assets like CUDA and libraries of prebuilt code on its Superchips, Nvidia's product line is more than just hardware. Those components effectively lock in vendors and provide a suite of tools for customers that is difficult for competitors to match.</p><p>While competing products are likely to alleviate the current shortage of GPUs and could weigh on Nvidia's pricing, investors should also remember that the AI market continues to expand and there are new frontiers for Nvidia to penetrate.</p><p>For example, the company launched an AI PC chip in January, opening up a market that it previously hadn't contested. If Nvidia bears believe AMD and Intel will swipe market share in data center GPUs, which Nvidia currently dominates, they should also consider the prospects of Nvidia turning the tables on its rivals in PCs, their traditional bastion.</p><p>Meanwhile, the market for edge computing AI chips, meaning in end-user devices, is also up for grabs, giving Nvidia a key growth opportunity there as well.</p><p>Competition is coming, but Nvidia's competitive moat is formidable, and it can penetrate new AI markets as well.</p><h2 id=\"id_3420273541\">3. Nvidia is overvalued</h2><p>In order for Nvidia stock to be in a bubble, it has to be overvalued. By definition, a bubble means that the price of an asset has risen unsustainably because of momentum rather than fundamentals.</p><p>Nvidia's fundamentals, on the other hand, look rock-solid. As noted above, the company's GAAP profits jumped by nearly 7 times last year, and Wall Street consistently underestimated the company's growth along the way.</p><p>Its valuation also doesn't seem irrational. The stock trades at a trailing price-to-earnings ratio of around 75, and analysts expect earnings per share to nearly double this year, giving it a forward P/E of less than 40. Nvidia could easily top that forecast as well.</p><p>Based on the company's expected growth rate and its manifest competitive advantages, that valuation seems reasonable. While the stock would certainly fall if it missed estimates, a full-on collapse based on those ratios seems unlikely.</p><h2 id=\"id_70884028\">Is it safe to buy Nvidia stock?</h2><p>There's still a lot of uncertainty in the developing AI market, but there's also huge potential growth even for market leaders like Nvidia.</p><p>Nvidia stock has been on fire in recent months, and the stock could certainly undergo a significant correction if its results disappoint or the AI revolution doesn't live up to expectations.</p><p>However, based on its current valuation, the competitive landscape, and the strength of the business, the stock is considerably safer than the naysayers claim, and over the long term, Nvidia's prospects continue to look bright as AI applications proliferate to areas like autonomous vehicles. And Nvidia's chips are likely to play a role in emerging technologies.</p><p>While it's difficult to predict the short-term movements of any stock, Nvidia still looks like a long-term winner despite claims of an AI stock bubble.</p></body></html>","source":"fool_stock","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>3 Dangerous Myths About Nvidia Stock</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Dangerous Myths About Nvidia Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-25 10:05 GMT+8 <a href=https://www.fool.com/investing/2024/03/24/3-dangerous-myths-about-nvidia-stock/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia bears are claiming the stock's gains are unsustainable.The AI boom has important differences from the dot-com bubble.Nvidia's valuation seems reasonable for its fundamentals.Nvidia needs little...</p>\n\n<a href=\"https://www.fool.com/investing/2024/03/24/3-dangerous-myths-about-nvidia-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4581":"高盛持仓","SG9999001424.SGD":"United E-Commerce Fund SGD","BK4549":"软银资本持仓","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4548":"巴美列捷福持仓","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","SG9999001440.SGD":"United Global Dividend Equity Fund A SGD Dist","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4532":"文艺复兴科技持仓","BK4592":"伊斯兰概念","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1599440770.SGD":"FIDELITY GLOBAL DIVIDEND \"A\" (SGDHDG) INC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0238689110.USD":"贝莱德环球动力股票基金","BK4534":"瑞士信贷持仓","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0072462426.USD":"贝莱德全球配置 A2","LU0053666078.USD":"摩根大通基金-美国股票A(离岸)美元","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","BK4525":"远程办公概念","LU0082616367.USD":"摩根大通美国科技A(dist)","LU0080751232.USD":"富达环球多元动力基金A","BK4527":"明星科技股","BK4543":"AI","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","LU0061474960.USD":"天利环球焦点基金AU Acc","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4503":"景林资产持仓","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)"},"source_url":"https://www.fool.com/investing/2024/03/24/3-dangerous-myths-about-nvidia-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2421632473","content_text":"Nvidia bears are claiming the stock's gains are unsustainable.The AI boom has important differences from the dot-com bubble.Nvidia's valuation seems reasonable for its fundamentals.Nvidia needs little introduction at this point. The GPU maker dominates the artificial intelligence (AI) era. It's become the third-most-valuable company in the world behind only Microsoft and Apple, and its revenue more than tripled in its most recent quarter, driving even faster growth on the bottom line.Nvidia stock jumped more than 500% since the start of 2023. But with its gains accelerating in the first few months of 2024, a new narrative has emerged around the stock, and with it, some pernicious myths. Some investors now believe the stock is in a bubble that will soon collapse, believing that the stock has run too high, too fast and that its profits aren't sustainable.However, many of the arguments that form that thesis fall apart upon closer examination. Keep reading to see three such talking points that investors should be skeptical of.1. Nvidia is like Cisco in 2000There's been no shortage of comparisons between the AI boom and the dot-com bubble of the 1990s, and many tech CEOs have likened the disruptive potential of AI to the early days of the internet. Of the famous busts from that era, Cisco Systems sticks out as an analogue for Nvidia. Like Nvidia, Cisco was seen as the picks-and-shovels play of that period, selling routers and switches that were essential for internet connectivity.However, there seem to be more differences than similarities between Nvidia now and Cisco then. Nvidia's competitive advantages are more entrenched than Cisco's were, and it's been building its empire for far longer. Nvidia invented the GPU in 1999 and has been far and away the leader in the category since. It's also built an ecosystem to complement its GPU hardware family, which centers around CUDA (Compute Unified Device Architecture), a parallel computing platform it created in 2006 that enables general-purpose computing on Nvidia's GPUs. CUDA essentially functions as a software layer on top of its hardware. While Cisco was just a seller of hardware, Nvidia is selling an entire tech ecosystem.Nvidia is also growing much faster than Cisco ever was during the dot-com boom. In fact, Cisco's earnings per share only increased 140% total from 1996 to 2000, about 25% annually, rising from $0.15 to $0.36 due in part to excessive share-based compensation. Additionally, Cisco's margins actually declined during that period.Nvidia, on the other hand, reported a 588% increase in generally accepted accounting principles (GAAP) earnings per share in fiscal 2024, outpacing the stock's gains; its margins exploded, and its share count fell over the year.Overall, Nvidia is a much stronger company than Cisco was during the dot-com boom, and Nvidia stock hasn't gained nearly as much as Cisco did.2. Competition will erase Nvidia's AI leadershipAnother core tenet of the Nvidia bear thesis is that competition will level the playing field in AI. While it's true that AI GPU competition is already arriving in the form of products like Advanced Micro Devices' MI300 and Intel's Gaudi3, AI components are not a commodity product, and this won't be a race to the bottom.Because of assets like CUDA and libraries of prebuilt code on its Superchips, Nvidia's product line is more than just hardware. Those components effectively lock in vendors and provide a suite of tools for customers that is difficult for competitors to match.While competing products are likely to alleviate the current shortage of GPUs and could weigh on Nvidia's pricing, investors should also remember that the AI market continues to expand and there are new frontiers for Nvidia to penetrate.For example, the company launched an AI PC chip in January, opening up a market that it previously hadn't contested. If Nvidia bears believe AMD and Intel will swipe market share in data center GPUs, which Nvidia currently dominates, they should also consider the prospects of Nvidia turning the tables on its rivals in PCs, their traditional bastion.Meanwhile, the market for edge computing AI chips, meaning in end-user devices, is also up for grabs, giving Nvidia a key growth opportunity there as well.Competition is coming, but Nvidia's competitive moat is formidable, and it can penetrate new AI markets as well.3. Nvidia is overvaluedIn order for Nvidia stock to be in a bubble, it has to be overvalued. By definition, a bubble means that the price of an asset has risen unsustainably because of momentum rather than fundamentals.Nvidia's fundamentals, on the other hand, look rock-solid. As noted above, the company's GAAP profits jumped by nearly 7 times last year, and Wall Street consistently underestimated the company's growth along the way.Its valuation also doesn't seem irrational. The stock trades at a trailing price-to-earnings ratio of around 75, and analysts expect earnings per share to nearly double this year, giving it a forward P/E of less than 40. Nvidia could easily top that forecast as well.Based on the company's expected growth rate and its manifest competitive advantages, that valuation seems reasonable. While the stock would certainly fall if it missed estimates, a full-on collapse based on those ratios seems unlikely.Is it safe to buy Nvidia stock?There's still a lot of uncertainty in the developing AI market, but there's also huge potential growth even for market leaders like Nvidia.Nvidia stock has been on fire in recent months, and the stock could certainly undergo a significant correction if its results disappoint or the AI revolution doesn't live up to expectations.However, based on its current valuation, the competitive landscape, and the strength of the business, the stock is considerably safer than the naysayers claim, and over the long term, Nvidia's prospects continue to look bright as AI applications proliferate to areas like autonomous vehicles. And Nvidia's chips are likely to play a role in emerging technologies.While it's difficult to predict the short-term movements of any stock, Nvidia still looks like a long-term winner despite claims of an AI stock bubble.","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":286780183244880,"gmtCreate":1711037036893,"gmtModify":1711037038911,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286780183244880","repostId":"2420723909","repostType":4,"repost":{"id":"2420723909","pubTimestamp":1711034746,"share":"https://www.laohu8.com/m/news/2420723909?lang=&edition=full","pubTime":"2024-03-21 23:25","market":"us","language":"en","title":"Nvidia: This Is Not A Bubble","url":"https://stock-news.laohu8.com/highlight/detail?id=2420723909","media":"seekingalpha","summary":"Nvidia Corporation stock has seen significant growth due to increased demand for its AI chips, and there is potential for further growth.The company's Q4 earnings exceeded expectations, indicating tha","content":"<html><head></head><body><ul style=\"\"><li><p>Nvidia Corporation stock has seen significant growth due to increased demand for its AI chips, and there is potential for further growth.</p></li><li><p>The company's Q4 earnings exceeded expectations, indicating that the demand for its chips has not peaked yet.</p></li><li><p>Nvidia has no major competitors in the generative AI chip market and has revealed the world's most powerful AI chip, solidifying its dominance.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9e49cfaa868594bf406bdf82fca1be70\" tg-width=\"750\" tg-height=\"542\"/></p><p>Justin Sullivan/Getty Images News</p><p>Nvidia Corporation has been one of the best-performing major stocks in the last year as the increased demand for its artificial intelligence ("AI") chips has exceeded all the macroeconomic and geopolitical risks that were threatening to undermine the company’s growth story. Even though Nvidia’s market cap in recent weeks has increased by an additional $1 trillion and the business is now worth over $2 trillion, there are reasons to believe that the company’s growth story is far from over and its stock has an additional room for growth. Therefore, I continue to hold a long position in the company at a hefty unrealized profit since I believe that Nvidia is not in bubble territory yet despite the aggressive growth in recent weeks.</p><h2 id=\"id_1957899930\">The Rally Continues</h2><p>Last May I wrote an article titled "Nvidia: I Was Wrong," in which I outlined the reasons why it makes sense to believe that generative AI is not another fad like the metaverse. I came to that conclusion after I integrated several generative AI tools into my daily workflow which helped me improve my overall efficiency. In September, I initiated the first BUY rating for Nvidia’s stock, which at that time was trading at around $400 per share, after realizing that the AI rally appeared to be far from over.</p><p>Then in November, I published another article titled "Nvidia: The Market Is Wrong" after the company reported its Q3 earnings results which at first didn’t impress the market and led to the slight depreciation of the business’s shares. In that article, I argued that the market is underestimating Nvidia’s potential and the fact that the demand for its AI chips is likely to increase in the following months. Since the publication of the latest article on Nvidia in November, the company’s shares have appreciated by over 80%, added more than $1 trillion in additional market cap, and there are reasons to believe that the growth story is still not over yet.</p><p>If we look at Nvidia’s latest earnings results for Q4, which were released last month, we’ll see that the company managed to exceed expectations once again as it increased its revenues by 265.3% Y/Y to $22.1 billion, above the estimates by $1.55 billion. The Non-GAAP EPS of $5.16 was also above the expectations by $0.52.</p><p>Such an exceptional performance indicates that the demand for its chips has not peaked yet and there are reasons to believe that we could see another earnings beat in the next few quarters. This is due to the fact that the shortages for its flagship AI chips are expected to remain for a while as a result of the increased demand across the globe. What’s more is that as the sovereign nations begin to allocate capital into the AI infrastructure to build their own large-language models and become a part of the generative AI revolution, the demand for Nvidia’s chips is likely to continue to rise in the foreseeable future.</p><p>Another thing that the company has going for it is the fact that it doesn’t have any major competitor that could’ve taken a significant market share and posed a threat to Nvidia’s dominance in the field of generative AI chips. In my latest article on Advanced Micro Devices, Inc. (AMD) that was published last month, I noted that the company expects to sell only $3.5 billion worth of AI chips in 2024 at lower prices than Nvidia. As such, it’s safe to say that Nvidia has no competition on the horizon. Add to all of this the fact that Nvidia revealed the world’s most powerful AI chip earlier this week and it becomes obvious that almost nothing could undermine the company’s growth story for now.</p><p>Considering all of those catalysts, it’s safe to say that Nvidia’s growth story is far from over. After the exceptional performance in FY24, the company is expected to continue to grow its top line at an impressive rate of ~80% in FY25 while its earnings are expected to grow at an aggressive rate as well.</p><p>What’s more is that there’s always a possibility that the outlook will be improved as the year goes by, which could once again lead to upward revisions in the following months. This was already the case for a few quarters in a row, and in recent months as well when the management’s revenue outlook for Q1 of $24 billion was above the Street consensus of $22.03 billion.</p><p>As a result of this, there are reasons to believe that Nvidia’s stock could have additional room for growth in the following quarters. By trading at a forward P/E of ~36x, Nvidia is undervalued against its closest rival AMD which trades at ~50 times its forward earnings. At the same time, at such a multiple it’s hard to consider Nvidia to be in a bubble territory especially since the current average P/E ratio of the broad market is ~28x, which is not that far away from the chipmaker’s multiple.</p><p>On top of all of that, even with the current growth expectations Nvidia’s shares appear to be trading close to their fair value at the current price. In my discounted cash flow ("DCF") model below the revenue and earnings assumptions are mostly in line with the Street expectations, while the assumptions for all other metrics are close to the historical levels. The WACC in the model is 8%, while the terminal growth rate is 3%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b7400b9d0d5d168dbf7503aa41f36863\" tg-width=\"640\" tg-height=\"317\"/></p><p>Nvidia's DCF Model (Historical Data: Seeking Alpha, Assumptions: Author)</p><p>The model shows that Nvidia’s enterprise value is $2.16 trillion, while its fair price is $876.95 per share, which is close to the current market price at the time of this writing.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/730f9a4d8ec98f3ab634872c5a87aa97\" tg-width=\"640\" tg-height=\"139\"/></p><p>Nvidia's DCF Model (Historical Data: Seeking Alpha, Assumptions: Author)</p><p></p><p>However, there’s a possibility that the outlook could once again be raised in the following quarters, which would prompt upward revisions of the assumptions in the model and lead to a greater fair value. Add to all of this the fact that Nvidia’s shares seem to have found a solid technical support level above $850 per share, there’s a possibility that we could see another price breakthrough to new all-time highs in light of the latest developments.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/34d7b2c8bf7a2455171c5d05829b8a3d\" tg-width=\"640\" tg-height=\"255\"/></p><p>Nvidia's Stock Price (Seeking Alpha)</p><h2 id=\"id_406304498\">Major Risks To Consider</h2><p>It would be foolish in my view to assume that Nvidia Corporation stock has no downside risk even if the momentum is currently on its side. While there’s no denying that the rising demand for the company’s chips will likely lead to better-than-expected business performance in the following quarters, there’s nevertheless going to be a time when Nvidia won’t be able to constantly exceed expectations anymore. When such a thing happens, we’ll likely conclude that the demand has peaked, and the aggressive returns will become a thing of the past. Under such a scenario, Nvidia will likely continue to grow its business, but the upside for its shares would become limited.</p><p>We shouldn’t forget that despite an impressive performance in recent quarters, Nvidia’s sales in China have significantly declined due to the latest export restrictions that were imposed by the United States. While the company managed to mitigate this decline thanks to the exceeding demand in other markets, there’s a risk that once the demand in other markets stabilizes, Nvidia won’t be able to find new growth catalysts to continue to exceed expectations. The good news, though, is that it could take years before such a thing happens, given the latest developments.</p><h2 id=\"id_1649664764\">The Bottom Line</h2><p>Considering everything stated above, I decided not to sell my long position in Nvidia Corporation stock and continue to stick with the BUY rating since it appears that Nvidia’s growth opportunities continue to outweigh major risks at this stage. Even though it might become harder for Nvidia to constantly exceed expectations in the future and there will come a time when the growth rate normalizes and the shares will lose momentum, it appears that we’re not at that stage just yet.</p></body></html>","source":"seekingalpha","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>Nvidia: This Is Not A Bubble</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia: This Is Not A Bubble\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-21 23:25 GMT+8 <a href=https://seekingalpha.com/article/4679362-nvidia-this-is-not-a-bubble><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia Corporation stock has seen significant growth due to increased demand for its AI chips, and there is potential for further growth.The company's Q4 earnings exceeded expectations, indicating ...</p>\n\n<a href=\"https://seekingalpha.com/article/4679362-nvidia-this-is-not-a-bubble\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2098885051.SGD":"JPMorgan Funds - 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Global Absolute Alpha A Acc SGD","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","BK7095":"多种金属与采矿","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4573":"虚拟现实","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","BK4549":"软银资本持仓","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU0444971666.USD":"天利全球科技基金","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","NVDA":"英伟达","BK4548":"巴美列捷福持仓","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD"},"source_url":"https://seekingalpha.com/article/4679362-nvidia-this-is-not-a-bubble","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2420723909","content_text":"Nvidia Corporation stock has seen significant growth due to increased demand for its AI chips, and there is potential for further growth.The company's Q4 earnings exceeded expectations, indicating that the demand for its chips has not peaked yet.Nvidia has no major competitors in the generative AI chip market and has revealed the world's most powerful AI chip, solidifying its dominance.Justin Sullivan/Getty Images NewsNvidia Corporation has been one of the best-performing major stocks in the last year as the increased demand for its artificial intelligence (\"AI\") chips has exceeded all the macroeconomic and geopolitical risks that were threatening to undermine the company’s growth story. Even though Nvidia’s market cap in recent weeks has increased by an additional $1 trillion and the business is now worth over $2 trillion, there are reasons to believe that the company’s growth story is far from over and its stock has an additional room for growth. Therefore, I continue to hold a long position in the company at a hefty unrealized profit since I believe that Nvidia is not in bubble territory yet despite the aggressive growth in recent weeks.The Rally ContinuesLast May I wrote an article titled \"Nvidia: I Was Wrong,\" in which I outlined the reasons why it makes sense to believe that generative AI is not another fad like the metaverse. I came to that conclusion after I integrated several generative AI tools into my daily workflow which helped me improve my overall efficiency. In September, I initiated the first BUY rating for Nvidia’s stock, which at that time was trading at around $400 per share, after realizing that the AI rally appeared to be far from over.Then in November, I published another article titled \"Nvidia: The Market Is Wrong\" after the company reported its Q3 earnings results which at first didn’t impress the market and led to the slight depreciation of the business’s shares. In that article, I argued that the market is underestimating Nvidia’s potential and the fact that the demand for its AI chips is likely to increase in the following months. Since the publication of the latest article on Nvidia in November, the company’s shares have appreciated by over 80%, added more than $1 trillion in additional market cap, and there are reasons to believe that the growth story is still not over yet.If we look at Nvidia’s latest earnings results for Q4, which were released last month, we’ll see that the company managed to exceed expectations once again as it increased its revenues by 265.3% Y/Y to $22.1 billion, above the estimates by $1.55 billion. The Non-GAAP EPS of $5.16 was also above the expectations by $0.52.Such an exceptional performance indicates that the demand for its chips has not peaked yet and there are reasons to believe that we could see another earnings beat in the next few quarters. This is due to the fact that the shortages for its flagship AI chips are expected to remain for a while as a result of the increased demand across the globe. What’s more is that as the sovereign nations begin to allocate capital into the AI infrastructure to build their own large-language models and become a part of the generative AI revolution, the demand for Nvidia’s chips is likely to continue to rise in the foreseeable future.Another thing that the company has going for it is the fact that it doesn’t have any major competitor that could’ve taken a significant market share and posed a threat to Nvidia’s dominance in the field of generative AI chips. In my latest article on Advanced Micro Devices, Inc. (AMD) that was published last month, I noted that the company expects to sell only $3.5 billion worth of AI chips in 2024 at lower prices than Nvidia. As such, it’s safe to say that Nvidia has no competition on the horizon. Add to all of this the fact that Nvidia revealed the world’s most powerful AI chip earlier this week and it becomes obvious that almost nothing could undermine the company’s growth story for now.Considering all of those catalysts, it’s safe to say that Nvidia’s growth story is far from over. After the exceptional performance in FY24, the company is expected to continue to grow its top line at an impressive rate of ~80% in FY25 while its earnings are expected to grow at an aggressive rate as well.What’s more is that there’s always a possibility that the outlook will be improved as the year goes by, which could once again lead to upward revisions in the following months. This was already the case for a few quarters in a row, and in recent months as well when the management’s revenue outlook for Q1 of $24 billion was above the Street consensus of $22.03 billion.As a result of this, there are reasons to believe that Nvidia’s stock could have additional room for growth in the following quarters. By trading at a forward P/E of ~36x, Nvidia is undervalued against its closest rival AMD which trades at ~50 times its forward earnings. At the same time, at such a multiple it’s hard to consider Nvidia to be in a bubble territory especially since the current average P/E ratio of the broad market is ~28x, which is not that far away from the chipmaker’s multiple.On top of all of that, even with the current growth expectations Nvidia’s shares appear to be trading close to their fair value at the current price. In my discounted cash flow (\"DCF\") model below the revenue and earnings assumptions are mostly in line with the Street expectations, while the assumptions for all other metrics are close to the historical levels. The WACC in the model is 8%, while the terminal growth rate is 3%.Nvidia's DCF Model (Historical Data: Seeking Alpha, Assumptions: Author)The model shows that Nvidia’s enterprise value is $2.16 trillion, while its fair price is $876.95 per share, which is close to the current market price at the time of this writing.Nvidia's DCF Model (Historical Data: Seeking Alpha, Assumptions: Author)However, there’s a possibility that the outlook could once again be raised in the following quarters, which would prompt upward revisions of the assumptions in the model and lead to a greater fair value. Add to all of this the fact that Nvidia’s shares seem to have found a solid technical support level above $850 per share, there’s a possibility that we could see another price breakthrough to new all-time highs in light of the latest developments.Nvidia's Stock Price (Seeking Alpha)Major Risks To ConsiderIt would be foolish in my view to assume that Nvidia Corporation stock has no downside risk even if the momentum is currently on its side. While there’s no denying that the rising demand for the company’s chips will likely lead to better-than-expected business performance in the following quarters, there’s nevertheless going to be a time when Nvidia won’t be able to constantly exceed expectations anymore. When such a thing happens, we’ll likely conclude that the demand has peaked, and the aggressive returns will become a thing of the past. Under such a scenario, Nvidia will likely continue to grow its business, but the upside for its shares would become limited.We shouldn’t forget that despite an impressive performance in recent quarters, Nvidia’s sales in China have significantly declined due to the latest export restrictions that were imposed by the United States. While the company managed to mitigate this decline thanks to the exceeding demand in other markets, there’s a risk that once the demand in other markets stabilizes, Nvidia won’t be able to find new growth catalysts to continue to exceed expectations. The good news, though, is that it could take years before such a thing happens, given the latest developments.The Bottom LineConsidering everything stated above, I decided not to sell my long position in Nvidia Corporation stock and continue to stick with the BUY rating since it appears that Nvidia’s growth opportunities continue to outweigh major risks at this stage. Even though it might become harder for Nvidia to constantly exceed expectations in the future and there will come a time when the growth rate normalizes and the shares will lose momentum, it appears that we’re not at that stage just yet.","news_type":1},"isVote":1,"tweetType":1,"viewCount":44,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":286738772451424,"gmtCreate":1711026927326,"gmtModify":1711026929431,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286738772451424","repostId":"2421408096","repostType":4,"repost":{"id":"2421408096","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1711021283,"share":"https://www.laohu8.com/m/news/2421408096?lang=&edition=full","pubTime":"2024-03-21 19:41","market":"us","language":"en","title":"Nvidia Stock Gains. Why Its Software News Could Be as Vital as New Chips","url":"https://stock-news.laohu8.com/highlight/detail?id=2421408096","media":"Dow Jones","summary":"Nvidia stock was rising early on Thursday as the chip maker reached the final day of its developer event. While its hardware announcements took center stage, additions to its software range could also be key for growth.Apart from the announcement of the new Blackwell chips, which are expected to become the new favored hardware for powering artificial-intelligence systems, the focus of the event has been on the broadening range of services Nvidia provides.That includes more software options, with the latest being Nvidia Inference Microservices, or NIMs, which are used to simplify deployment of generative AI models.Sur reiterated an Overweight rating on Nvidia stock.Maintaining a lead in software is likely to be critical for Nvidia which will want to avoid a similar fate as networking hardware provider Cisco Systems, which surged during the dot-com boom but subsequently plunged.Widespread use of NIMs and other Nvidia-provided software will keep developers dependent on the company's CUDA ","content":"<html><head></head><body><p>Nvidia stock was rising early on Thursday as the chip maker reached the final day of its developer event. While its hardware announcements took center stage, additions to its software range could also be key for growth.</p><p>Nvidia shares were up 2% in premarket trading at $922.15. That leaves it slightly short of its record closing high of $926.69 reached earlier this month but the stock has moved higher over t he duration of the GTC event in San Jose this week.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c9278d13c0298077c689a899f2bff4df\" tg-width=\"799\" tg-height=\"624\"/></p><p>Apart from the announcement of the new Blackwell chips, which are expected to become the new favored hardware for powering artificial-intelligence systems, the focus of the event has been on the broadening range of services Nvidia provides.</p><p>That includes more software options, with the latest being Nvidia Inference Microservices, or NIMs, which are used to simplify deployment of generative AI models.</p><p>"NIMs are pre-trained models (e.g. computer vision, speech recognition, robotics) that are packaged and optimized to run across its installed base for its enterprise customers...[Nvidia] is planning to deploy hundreds of different models which we expect will drive strong growth in its software business," wrote J.P. Morgan analyst Harlan Sur in a research note.</p><p>Sur reiterated an Overweight rating on Nvidia stock.</p><p>Maintaining a lead in software is likely to be critical for Nvidia which will want to avoid a similar fate as networking hardware provider Cisco Systems, which surged during the dot-com boom but subsequently plunged.</p><p>Widespread use of NIMs and other Nvidia-provided software will keep developers dependent on the company's CUDA software for building applications.</p><p>Other chip makers were gaining on Thursday with Advanced Micro Devices up 1.9% in premarket trading and Intel gaining 1.5%.</p><p>Nvidia shares have risen 82% this year to date through to Wednesday's close. That compares with a 9.5% rise in the S&P 500 index and a 9.1% rise in the Nasdaq Composite Index over the same period.</p></body></html>","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>Nvidia Stock Gains. Why Its Software News Could Be as Vital as New Chips</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia Stock Gains. Why Its Software News Could Be as Vital as New Chips\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-03-21 19:41</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Nvidia stock was rising early on Thursday as the chip maker reached the final day of its developer event. While its hardware announcements took center stage, additions to its software range could also be key for growth.</p><p>Nvidia shares were up 2% in premarket trading at $922.15. That leaves it slightly short of its record closing high of $926.69 reached earlier this month but the stock has moved higher over t he duration of the GTC event in San Jose this week.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c9278d13c0298077c689a899f2bff4df\" tg-width=\"799\" tg-height=\"624\"/></p><p>Apart from the announcement of the new Blackwell chips, which are expected to become the new favored hardware for powering artificial-intelligence systems, the focus of the event has been on the broadening range of services Nvidia provides.</p><p>That includes more software options, with the latest being Nvidia Inference Microservices, or NIMs, which are used to simplify deployment of generative AI models.</p><p>"NIMs are pre-trained models (e.g. computer vision, speech recognition, robotics) that are packaged and optimized to run across its installed base for its enterprise customers...[Nvidia] is planning to deploy hundreds of different models which we expect will drive strong growth in its software business," wrote J.P. Morgan analyst Harlan Sur in a research note.</p><p>Sur reiterated an Overweight rating on Nvidia stock.</p><p>Maintaining a lead in software is likely to be critical for Nvidia which will want to avoid a similar fate as networking hardware provider Cisco Systems, which surged during the dot-com boom but subsequently plunged.</p><p>Widespread use of NIMs and other Nvidia-provided software will keep developers dependent on the company's CUDA software for building applications.</p><p>Other chip makers were gaining on Thursday with Advanced Micro Devices up 1.9% in premarket trading and Intel gaining 1.5%.</p><p>Nvidia shares have risen 82% this year to date through to Wednesday's close. That compares with a 9.5% rise in the S&P 500 index and a 9.1% rise in the Nasdaq Composite Index over the same period.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","BK4592":"伊斯兰概念","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0238689110.USD":"贝莱德环球动力股票基金","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0072462426.USD":"贝莱德全球配置 A2","BK4575":"芯片概念","BK4587":"ChatGPT概念","BK4525":"远程办公概念","LU0053666078.USD":"摩根大通基金-美国股票A(离岸)美元","LU0082616367.USD":"摩根大通美国科技A(dist)","LU0080751232.USD":"富达环球多元动力基金A","BK4543":"AI","BK4527":"明星科技股","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","BK4579":"人工智能","BK4588":"碎股","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4503":"景林资产持仓","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4573":"虚拟现实","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","BK4581":"高盛持仓","BK4560":"网络安全概念","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","SG9999001424.SGD":"United E-Commerce Fund SGD","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","SG9999001440.SGD":"United Global Dividend Equity Fund A SGD Dist","NVDA":"英伟达"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2421408096","content_text":"Nvidia stock was rising early on Thursday as the chip maker reached the final day of its developer event. While its hardware announcements took center stage, additions to its software range could also be key for growth.Nvidia shares were up 2% in premarket trading at $922.15. That leaves it slightly short of its record closing high of $926.69 reached earlier this month but the stock has moved higher over t he duration of the GTC event in San Jose this week.Apart from the announcement of the new Blackwell chips, which are expected to become the new favored hardware for powering artificial-intelligence systems, the focus of the event has been on the broadening range of services Nvidia provides.That includes more software options, with the latest being Nvidia Inference Microservices, or NIMs, which are used to simplify deployment of generative AI models.\"NIMs are pre-trained models (e.g. computer vision, speech recognition, robotics) that are packaged and optimized to run across its installed base for its enterprise customers...[Nvidia] is planning to deploy hundreds of different models which we expect will drive strong growth in its software business,\" wrote J.P. Morgan analyst Harlan Sur in a research note.Sur reiterated an Overweight rating on Nvidia stock.Maintaining a lead in software is likely to be critical for Nvidia which will want to avoid a similar fate as networking hardware provider Cisco Systems, which surged during the dot-com boom but subsequently plunged.Widespread use of NIMs and other Nvidia-provided software will keep developers dependent on the company's CUDA software for building applications.Other chip makers were gaining on Thursday with Advanced Micro Devices up 1.9% in premarket trading and Intel gaining 1.5%.Nvidia shares have risen 82% this year to date through to Wednesday's close. That compares with a 9.5% rise in the S&P 500 index and a 9.1% rise in the Nasdaq Composite Index over the same period.","news_type":1},"isVote":1,"tweetType":1,"viewCount":63,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":286580748095704,"gmtCreate":1711000711245,"gmtModify":1711000714690,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286580748095704","repostId":"2421083794","repostType":4,"repost":{"id":"2421083794","pubTimestamp":1710989331,"share":"https://www.laohu8.com/m/news/2421083794?lang=&edition=full","pubTime":"2024-03-21 10:48","market":"us","language":"en","title":"Alphabet CEO Sundar Pichai Sells Over $3.3 Million in Company Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=2421083794","media":"Investing.com","summary":"Alphabet CEO Sundar Pichai sells over $3.3 million in company stock By Investing.com","content":"<html><head></head><body><p style=\"text-align: left;\">In a recent move, Sundar Pichai, the CEO of Alphabet (NASDAQ:GOOGL) Inc. (NASDAQ:GOOG), has sold a substantial number of shares in the technology giant. The transactions, which occurred on March 20, 2024, involved the sale of Alphabet's Class C Capital Stock and totaled over $3.3 million.</p><p style=\"text-align: left;\">The sales were executed in multiple transactions with prices ranging from $147.77 to $149.76 per share. Specifically, Pichai sold 12,370 shares at an average price of $148.34, and another 10,130 shares at an average price of $149.32. After these transactions, Pichai still holds a significant number of shares in the company, with 2,320,321 shares of Class C Capital Stock remaining under his direct ownership.</p><p style=\"text-align: left;\">These sales were part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to sell stocks at predetermined times to avoid accusations of insider trading. This plan had been adopted by Pichai on August 31, 2023.</p><p style=\"text-align: left;\">Alphabet Inc. is known for its wide array of services in the computer programming and data processing sector, with Google being one of its most prominent subsidiaries. As the company continues to innovate and expand, investors keep a keen eye on the trading activities of its top executives for insights into the company's performance and their confidence in its future.</p><p style=\"text-align: left;\">The transactions are publicly documented and available for review by any securityholder of Alphabet Inc. or the staff of the Securities and Exchange Commission, upon request. The company's Class C Capital Stock is traded under the ticker symbol GOOG on the NASDAQ exchange.</p><h2 id=\"id_1094943439\" style=\"text-align: left;\">InvestingPro Insights</h2><p style=\"text-align: left;\">Following the recent sale of Alphabet Inc. shares by CEO Sundar Pichai, investors may be curious about the current financial health and market performance of the company. According to <em>InvestingPro</em> data, Alphabet Inc. holds a robust market capitalization of $1860.0 billion USD. The company's Price-to-Earnings (P/E) ratio stands at 25.45, with a slightly more favorable adjusted P/E ratio for the last twelve months as of Q4 2023 at 23.82. This can be indicative of the stock trading at a low P/E ratio relative to near-term earnings growth, a factor that might interest value-oriented investors.</p><p style=\"text-align: left;\">Alphabet's revenue growth has also been positive, with an 8.68% increase over the last twelve months as of Q4 2023, and a quarterly revenue growth in Q4 2023 at 13.49%. This growth trajectory underscores Alphabet's position as a prominent player in the Interactive Media & Services industry.</p><p style=\"text-align: left;\">An <em>InvestingPro Tip</em> to consider is that Alphabet is trading near its 52-week high, with its price at 96.44% of this peak, which could suggest investor confidence or a potential reassessment of value. Additionally, Alphabet's cash flows have been strong enough to sufficiently cover interest payments, and its liquid assets exceed short-term obligations, reflecting a healthy balance sheet.</p></body></html>","source":"investingArticles_highlight","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>Alphabet CEO Sundar Pichai Sells Over $3.3 Million in Company Stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlphabet CEO Sundar Pichai Sells Over $3.3 Million in Company Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-21 10:48 GMT+8 <a href=https://www.investing.com/news/stock-market-news/alphabet-ceo-sundar-pichai-sells-over-33-million-in-company-stock-93CH-3347059><strong>Investing.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In a recent move, Sundar Pichai, the CEO of Alphabet (NASDAQ:GOOGL) Inc. (NASDAQ:GOOG), has sold a substantial number of shares in the technology giant. The transactions, which occurred on March 20, ...</p>\n\n<a href=\"https://www.investing.com/news/stock-market-news/alphabet-ceo-sundar-pichai-sells-over-33-million-in-company-stock-93CH-3347059\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU0557290698.USD":"施罗德环球可持续增长基金","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","BK4585":"ETF&股票定投概念","BK4507":"流媒体概念","BK4576":"AR","LU0080751232.USD":"富达环球多元动力基金A","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0072462426.USD":"贝莱德全球配置 A2","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4587":"ChatGPT概念","BK4566":"资本集团","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0056508442.USD":"贝莱德世界科技基金A2","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","BK4077":"互动媒体与服务","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4550":"红杉资本持仓","LU0109392836.USD":"富兰克林科技股A","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","GOOGL":"谷歌A","BK4561":"索罗斯持仓","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","GOOG":"谷歌","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","LU0861579265.USD":"联博低波幅策略股票基金A","LU0444971666.USD":"天利全球科技基金","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4514":"搜索引擎","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD"},"source_url":"https://www.investing.com/news/stock-market-news/alphabet-ceo-sundar-pichai-sells-over-33-million-in-company-stock-93CH-3347059","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2421083794","content_text":"In a recent move, Sundar Pichai, the CEO of Alphabet (NASDAQ:GOOGL) Inc. (NASDAQ:GOOG), has sold a substantial number of shares in the technology giant. The transactions, which occurred on March 20, 2024, involved the sale of Alphabet's Class C Capital Stock and totaled over $3.3 million.The sales were executed in multiple transactions with prices ranging from $147.77 to $149.76 per share. Specifically, Pichai sold 12,370 shares at an average price of $148.34, and another 10,130 shares at an average price of $149.32. After these transactions, Pichai still holds a significant number of shares in the company, with 2,320,321 shares of Class C Capital Stock remaining under his direct ownership.These sales were part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to sell stocks at predetermined times to avoid accusations of insider trading. This plan had been adopted by Pichai on August 31, 2023.Alphabet Inc. is known for its wide array of services in the computer programming and data processing sector, with Google being one of its most prominent subsidiaries. As the company continues to innovate and expand, investors keep a keen eye on the trading activities of its top executives for insights into the company's performance and their confidence in its future.The transactions are publicly documented and available for review by any securityholder of Alphabet Inc. or the staff of the Securities and Exchange Commission, upon request. The company's Class C Capital Stock is traded under the ticker symbol GOOG on the NASDAQ exchange.InvestingPro InsightsFollowing the recent sale of Alphabet Inc. shares by CEO Sundar Pichai, investors may be curious about the current financial health and market performance of the company. According to InvestingPro data, Alphabet Inc. holds a robust market capitalization of $1860.0 billion USD. The company's Price-to-Earnings (P/E) ratio stands at 25.45, with a slightly more favorable adjusted P/E ratio for the last twelve months as of Q4 2023 at 23.82. This can be indicative of the stock trading at a low P/E ratio relative to near-term earnings growth, a factor that might interest value-oriented investors.Alphabet's revenue growth has also been positive, with an 8.68% increase over the last twelve months as of Q4 2023, and a quarterly revenue growth in Q4 2023 at 13.49%. This growth trajectory underscores Alphabet's position as a prominent player in the Interactive Media & Services industry.An InvestingPro Tip to consider is that Alphabet is trading near its 52-week high, with its price at 96.44% of this peak, which could suggest investor confidence or a potential reassessment of value. Additionally, Alphabet's cash flows have been strong enough to sufficiently cover interest payments, and its liquid assets exceed short-term obligations, reflecting a healthy balance sheet.","news_type":1},"isVote":1,"tweetType":1,"viewCount":82,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":286369449615456,"gmtCreate":1710949223235,"gmtModify":1710949225266,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286369449615456","repostId":"2420431357","repostType":2,"repost":{"id":"2420431357","pubTimestamp":1710946007,"share":"https://www.laohu8.com/m/news/2420431357?lang=&edition=full","pubTime":"2024-03-20 22:46","market":"us","language":"en","title":"History Says You'll Regret Buying Nvidia Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=2420431357","media":"Motley Fool","summary":"Shortages never last forever.","content":"<html><head></head><body><ul style=\"\"><li><p>Nvidia stock is flying high as its AI-centric GPUs sell out.</p></li><li><p>The stock's valuation has exceeded dot-com bubble levels.</p></li><li><p>Competition will eventually ensure that Nvidia's pricing power doesn't go unchecked indefinitely.</p></li></ul><p>There's a shortage of high-powered chips capable of training and running advanced artificial intelligence (AI) models. Mega-tech companies are battling each other for AI supremacy, scooping up boatloads of Nvidia's data center GPUs along the way, and AI start-ups with rocketing valuations are multiplying.</p><p>There's little question that AI is a revolutionary technology. There's also little question, at least in my mind, that AI is fueling a classic bubble. Start-ups founded less than a year ago, like Mistral AI, are already worth billions. Some publicly traded companies, notably server maker Super Micro Computer, have seen their valuations skyrocket to levels that seem illogical. Caution is increasingly being thrown to the wind.</p><h2 id=\"id_315970597\">Nvidia's GPUs are driving the AI revolution</h2><p>Nvidia and its GPUs are at the center of it all. Not only are the company's GPUs well suited for the calculations necessary for training and running AI models, but its proprietary CUDA platform has become the <em>de facto</em> standard for accelerated computing over the past 16 years. With companies scrambling to win the AI race, Nvidia's GPUs are the path of least resistance.</p><p>It's not surprising then that demand for Nvidia's AI accelerators has exploded. The company's data center segment generated $18.4 billion of revenue in its latest quarter, a fivefold increase from the prior-year period. Profits are soaring as well. In the recently completed fiscal 2024, Nvidia earned a net income of $32.3 billion of $60.9 billion of revenue.</p><p>Nvidia stock has more than tripled over the past year, pushing up the company's market capitalization beyond $2 trillion.</p><h2 id=\"id_3889932868\">Shortages don't last forever</h2><p>"I've seen gluts not followed by shortages, but I've never seen a shortage not followed by a glut," says Nassim Nicholas Taleb, who is regarded as an expert on risk. The inertia behind Nvidia's CUDA has slowed down competitors, but a tsunami of competing AI accelerators is building. Nvidia's incredible profits and pricing power won't survive once supply catches up with demand.</p><p>Advanced Micro Devices launched new AI-centric data center GPUs late last year. Intel will launch the third generation of its capable Gaudi line of AI accelerators this year. OpenAI's Sam Altman is reportedly seeking vast funding for new semiconductor factories to build AI chips. Cloud giants including Amazon, Alphabet, and Microsoft are designing and installing their own AI chips. The list goes on.</p><p>Here's how the current shortage turns into a glut. First, insatiable demand and extravagant long-term projections drive a wave of competition. This is what's happening now. AMD has predicted that the AI chip market will reach $400 billion by 2027. For perspective, global semiconductor sales were just over $500 billion last year.</p><p>Second, future demand inevitably falls short of these wild projections. AI chip demand can still soar in the coming years and miss expectations, given how optimistic industry players have become. Eventually, this leads to a situation where there's more than enough supply of AI chips.</p><p>At this point, Nvidia's pricing power would have eroded considerably. CUDA would no longer be dominant as alternatives pop up and gain traction. For big cloud companies, there's a strong incentive to be able to support AI accelerators from a wide variety of suppliers.</p><h2 id=\"id_125138241\">Look to the dot-com bubble</h2><p>This isn't the first time Nvidia's stock has soared thanks to a revolutionary technology. The dot-com bubble of the late 1990s and early 2000s pushed up the company's valuation to extreme levels as well. The aftermath was a disaster for shareholders.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/78816a664191205ca2b95f13cb95533c\" tg-width=\"720\" tg-height=\"441\"/></p><p>NVDA PS Ratio data by YCharts</p><p>Relative to sales, Nvidia stock is far more expensive today than at any point during the dot-com bubble. "This time is different," you might say. Demand for AI is real, and the company's revenue is soaring. But you've just uttered the four most dangerous words in investing.</p><p>This time <em>might</em> be different. Or the market dynamics that play out during nearly every shortage of anything will play out once again and grind down Nvidia's pricing power and profits. By investing in Nvidia, you'll likely be paying a high price to relearn the lessons of the dot-com bubble.</p></body></html>","source":"fool_stock","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>History Says You'll Regret Buying Nvidia Stock</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHistory Says You'll Regret Buying Nvidia Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-20 22:46 GMT+8 <a href=https://www.fool.com/investing/2024/03/20/history-says-youll-regret-buying-nvidia-stock/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia stock is flying high as its AI-centric GPUs sell out.The stock's valuation has exceeded dot-com bubble levels.Competition will eventually ensure that Nvidia's pricing power doesn't go unchecked...</p>\n\n<a href=\"https://www.fool.com/investing/2024/03/20/history-says-youll-regret-buying-nvidia-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","BK4514":"搜索引擎","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0354030511.USD":"ALLSPRING U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1 Acc SGD-H","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD) INC","BK4554":"元宇宙及AR概念","LU0557290698.USD":"施罗德环球可持续增长基金","LU0528227936.USD":"富达环球人口趋势基金A-ACC","NVDA":"英伟达","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","BK4567":"ESG概念","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","BK4534":"瑞士信贷持仓","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","LU0079474960.USD":"联博美国增长基金A","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4566":"资本集团","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0061474960.USD":"天利环球焦点基金AU Acc","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","BK4538":"云计算","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","BK4550":"红杉资本持仓","BK4141":"半导体产品","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0109392836.USD":"富兰克林科技股A","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4551":"寇图资本持仓"},"source_url":"https://www.fool.com/investing/2024/03/20/history-says-youll-regret-buying-nvidia-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2420431357","content_text":"Nvidia stock is flying high as its AI-centric GPUs sell out.The stock's valuation has exceeded dot-com bubble levels.Competition will eventually ensure that Nvidia's pricing power doesn't go unchecked indefinitely.There's a shortage of high-powered chips capable of training and running advanced artificial intelligence (AI) models. Mega-tech companies are battling each other for AI supremacy, scooping up boatloads of Nvidia's data center GPUs along the way, and AI start-ups with rocketing valuations are multiplying.There's little question that AI is a revolutionary technology. There's also little question, at least in my mind, that AI is fueling a classic bubble. Start-ups founded less than a year ago, like Mistral AI, are already worth billions. Some publicly traded companies, notably server maker Super Micro Computer, have seen their valuations skyrocket to levels that seem illogical. Caution is increasingly being thrown to the wind.Nvidia's GPUs are driving the AI revolutionNvidia and its GPUs are at the center of it all. Not only are the company's GPUs well suited for the calculations necessary for training and running AI models, but its proprietary CUDA platform has become the de facto standard for accelerated computing over the past 16 years. With companies scrambling to win the AI race, Nvidia's GPUs are the path of least resistance.It's not surprising then that demand for Nvidia's AI accelerators has exploded. The company's data center segment generated $18.4 billion of revenue in its latest quarter, a fivefold increase from the prior-year period. Profits are soaring as well. In the recently completed fiscal 2024, Nvidia earned a net income of $32.3 billion of $60.9 billion of revenue.Nvidia stock has more than tripled over the past year, pushing up the company's market capitalization beyond $2 trillion.Shortages don't last forever\"I've seen gluts not followed by shortages, but I've never seen a shortage not followed by a glut,\" says Nassim Nicholas Taleb, who is regarded as an expert on risk. The inertia behind Nvidia's CUDA has slowed down competitors, but a tsunami of competing AI accelerators is building. Nvidia's incredible profits and pricing power won't survive once supply catches up with demand.Advanced Micro Devices launched new AI-centric data center GPUs late last year. Intel will launch the third generation of its capable Gaudi line of AI accelerators this year. OpenAI's Sam Altman is reportedly seeking vast funding for new semiconductor factories to build AI chips. Cloud giants including Amazon, Alphabet, and Microsoft are designing and installing their own AI chips. The list goes on.Here's how the current shortage turns into a glut. First, insatiable demand and extravagant long-term projections drive a wave of competition. This is what's happening now. AMD has predicted that the AI chip market will reach $400 billion by 2027. For perspective, global semiconductor sales were just over $500 billion last year.Second, future demand inevitably falls short of these wild projections. AI chip demand can still soar in the coming years and miss expectations, given how optimistic industry players have become. Eventually, this leads to a situation where there's more than enough supply of AI chips.At this point, Nvidia's pricing power would have eroded considerably. CUDA would no longer be dominant as alternatives pop up and gain traction. For big cloud companies, there's a strong incentive to be able to support AI accelerators from a wide variety of suppliers.Look to the dot-com bubbleThis isn't the first time Nvidia's stock has soared thanks to a revolutionary technology. The dot-com bubble of the late 1990s and early 2000s pushed up the company's valuation to extreme levels as well. The aftermath was a disaster for shareholders.NVDA PS Ratio data by YChartsRelative to sales, Nvidia stock is far more expensive today than at any point during the dot-com bubble. \"This time is different,\" you might say. Demand for AI is real, and the company's revenue is soaring. But you've just uttered the four most dangerous words in investing.This time might be different. Or the market dynamics that play out during nearly every shortage of anything will play out once again and grind down Nvidia's pricing power and profits. By investing in Nvidia, you'll likely be paying a high price to relearn the lessons of the dot-com bubble.","news_type":1},"isVote":1,"tweetType":1,"viewCount":15,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":286271649726640,"gmtCreate":1710925246963,"gmtModify":1710925249225,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286271649726640","repostId":"2420223622","repostType":2,"repost":{"id":"2420223622","pubTimestamp":1710816079,"share":"https://www.laohu8.com/m/news/2420223622?lang=&edition=full","pubTime":"2024-03-19 10:41","market":"us","language":"en","title":"Palantir: AI Tailwinds May Not Outweigh Fundamentals","url":"https://stock-news.laohu8.com/highlight/detail?id=2420223622","media":"Seeking Alpha","summary":"$Palantir Technologies Inc.(PLTR)$ is uniquely positioned in the AI rally, avoiding the cyclical nature of hardware-focused companies.The company is already implementing large language models and driv","content":"<html><head></head><body><ul style=\"\"><li><p><a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies Inc.</a> is uniquely positioned in the AI rally, avoiding the cyclical nature of hardware-focused companies.</p></li><li><p>The company is already implementing large language models and driving real-world value with diverse applications.</p></li><li><p>Palantir's recent uptick in results and customer growth indicate potential for future top-line growth and margin expansion.</p></li><li><p>Despite these recent positive developments, we believe that from a fundamental point of view shares are priced for perfection even in an optimistic scenario.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9a240f098f00df12ae3e5b11b1a3e773\" alt=\"Eugene Mymrin/Moment via Getty Images\" title=\"Eugene Mymrin/Moment via Getty Images\" tg-width=\"509\" tg-height=\"339\"/><span>Eugene Mymrin/Moment via Getty Images</span></p><h2 id=\"id_85532872\">Investment Thesis</h2><p>In the world of booming equity markets, AI being the topic du jour, and companies like Nvidia (NVDA) reaching multi-billion dollar valuations at a record pace, our nature has generally been to question the current narrative. Overall, we began to assess whether valuations, even allowing for tremendous growth, remain justified at current levels.</p><p>Interestingly enough, <strong>Palantir Technologies Inc.</strong> (NYSE:PLTR) was actually one of the first companies we identified before ChatGPT and the AI hype we find ourselves in now, as we felt that future developments in the sector were probably not yet priced into the stock when it was trading below $10 per share. However, after being up 309% since all-time lows in early 2023, we believe the fundamental picture has changed and that even despite the predicted AI tailwind we take into account in our rating, the stock price is likely ahead of the curve, citing certain red flags and fundamental metrics.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d5ce136499886e7ba9949b9b8686399b\" alt=\"Data by YCharts\" title=\"Data by YCharts\" tg-width=\"635\" tg-height=\"456\"/><span>Data by YCharts</span></p><h2 id=\"id_3659572881\">Evaluating AI Tailwinds</h2><p>In assessing Palantir's AI tailwinds with their AIP products, we would first like to highlight the fact that Palantir occupies a unique position in the current AI rally. Unlike other hardware-focused players who are leading this AI rally, such as Nvidia, Advanced Micro Devices (AMD), Taiwan Semiconductor (TSM), and others, we think Palantir is less caught up in the cyclical nature of these companies, which could in our view soon face a GPU glut as interest in AI wanes and the hype cools down.</p><p>In this sense, Palantir is quite unique in the sense that it is fairly detached from a potential AI bubble and can benefit from the recent hype without experiencing the cyclical nature of the chip industry, and enjoys very stable revenues from contracts already in place with government agencies and major commercial players. Moreover, Palantir is also already implementing AI and creating real value by concretely implementing large language models to increase productivity with real-world applications. They demonstrated this at AIPCon last week and showed some recent applications that were quite diverse, from the legacy Lowe's (LOW) retail chain to new concept technologies such as eVTOLs with Archer Aviation (ACHR).</p><p>We can see that in recent quarters Palantir is not only re-accelerating top-line revenue growth, but also achieving operational leverage as recent operating margins have risen from negative to a stellar 10.8%. This contrasts with other major tech players who are currently investing heavily in hardware and building large language models, pouring billions into R&D in the hope that future products and revenue streams will be derived from these models.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/113c985ffc486a19b90bfd1b48ecefb7\" alt=\"TIKR\" title=\"TIKR\" tg-width=\"640\" tg-height=\"384\"/><span>TIKR</span></p><p>Latest Q4 results also confirmed the recent uplift in results mostly as a result of the uptick in US Commercial customers which was up 55% YoY, or jumped from 181 customers to 221 last quarter. We believe there to be a lot of future leverage to be left in terms of top line growth as well as margin expansion on the already existing customer base which has notably widened.</p><p>But going back to assessing AI tailwinds, we've previously successfully forecasted the advancements in AI using Metaculus, which is a platform that aggregates quantitative predictions from a large community to optimally predict future events. One of the largest polls which asks the question of when the "first general AI system be devised, tested, and publicly announced," and is currently at December 2031. Before the rally in AI stocks, we saw this timeline shrink from around 2050 to 2030 right up until April 2022 and gave us the judgement that market participants were underpricing future developments in AI. During the recent AI rally, however, over the last 24 months, the timeline has remained fairly flat after the introduction of ChatGPT.</p><p>This in our eyes means that the aggregate market has finally caught up with AI developments, and likely has priced it in fully in current valuations. This also means that if we were to be in a potential AI Bubble like the dot-com bubble, we believe it to be likely more the later stage of a bubble, prompting us to be rather held back on buying after the recent rally and would wait for more breakthroughs in the AI space for confirmation.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2b776c75ff91430fb7894ff4175bb128\" alt=\"Metaculus\" title=\"Metaculus\" tg-width=\"640\" tg-height=\"283\"/><span>Metaculus</span></p><p>On the government side, Palantir has been crushing AI developments, for example, with Project Maven already at the forefront of AI warfare being used on the battlefield. Earlier this month, Palantir also surprised positively by winning the U.S. Army's 2-year TITAN contract worth $178 million, which is surprising given also the hardware nature of the project and the fact that the government chose Palantir over Raytheon (RTX).</p><h2 id=\"id_2924339602\">The Fundamental Picture</h2><p>Fundamentally, we believe Palantir's fundamentals may not currently outweigh the AI windfalls mentioned above. From a relative valuation perspective, we listed a number of metrics and determined that, in our opinion, Palantir remains very expensive at 18.15x forward EV/Sales ratio and 56.36x forward EV/EBITDA. We consider this very expensive despite revenue growth of 16.75% compared to other competitors in the software/ AI space such as Alteryx (AYX), Salesforce (CRM) and Microsoft (MSFT), which have similar growth characteristics but generally trade at less than 25x EV/EBITDA.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b7d09bfc18b8808d07bfaae971041d92\" alt=\"Author's Visuals, Seeking Alpha Data\" title=\"Author's Visuals, Seeking Alpha Data\" tg-width=\"640\" tg-height=\"348\"/><span>Author's Visuals, Seeking Alpha Data</span></p><p>Even Nvidia, which has a $2.16 trillion valuation, currently sits at an EV/EBITDA ratio of 30.60x forward with triple-digit ratios in terms of revenue and EBITDA growth. However, Palantir's valuation could soon become more reasonable as EBIT margins increase and finally move closer to the software industry average.</p><p>These numbers seem relatively optimistic, however, as we prefer to define Palantir's true profitability as its current ability to generate free cash flow minus share-based compensation. We believe this is a metric that reflects Palantir's true profitability, given the large nature of stock-based compensation and insider sales, which we will discuss in a moment. Although this metric gets better each quarter, in the fourth quarter Palantir brought in $296.31 million in FCF, but still issued $132.61 million in stock-based compensation. That leaves $163.7 million in adjusted FCF or an annualized rate of $654.8 million. If we convert this to a multiple, the stock stands at 79.38x adjusted free cash flow, which we still think is pretty exuberant despite an expected revenue growth rate of nearly 20%.</p><p>From an operating income perspective, Palantir is currently trading at 197.52x annualized Q4 operating income, which clocked in at $263.16M, which may come as a surprise to some as it is trading at a lower P/E ratio of 122.31 based on Q4 annualized net income of $425M. Something that many analysts actually overlook is, the fact that in the fourth quarter, beyond the $65.79 million in operating income, Palantir generated $44.55 million in interest and investment income from securities such as U.S. Treasuries from Palantir's $3.67 billion Total Cash And Short Term Investments, combined with the fact that Palantir has hardly any debt.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1c1a59b8a8563ecc6c9b6da79236bd67\" alt=\"TIKR\" title=\"TIKR\" tg-width=\"640\" tg-height=\"384\"/><span>TIKR</span></p><p>Over the past 12 months, Palantir actually generated more money from their balance sheet in terms of interest income than they generated income from operations. Which makes sense, given rising interest rates over the past 2 years, with the yield on 2-year U.S. Treasuries rising from nearly 0% to 4.73%.</p><p>Currently, Palantir is expected to generate somewhere north of $170-$180M in interest income on their $3.67B of cash and short-term investments. At the core profitability level, even if we were to value Palantir on its gross profit, it still trades at a staggering 26x Q4 annualized gross profit.</p><h2 id=\"id_3830628839\">More Red Flags</h2><p>To dig deeper into stock-based compensation, we discount this factor when valuing Palantir, given both the nature and magnitude of stock-based compensation. Over the past 12 months, stock-based compensation amounted to a whopping $475.90M, and according to our calculations, insiders have sold/exercised stock options for more than $452M.</p><p>Since in our view insiders use stock-based compensation almost as a salary, it is quite essential to the profitability/functioning of the organization to retain talent as a software company. While CEO Alex Karp's shares are stagnant, he still exercises options and sells shares for tens of millions of dollars a year, which has a dilutive effect for existing shareholders. On the other hand, share-based compensation has gradually declined over the past 2 years, while free cash flow has increased, which we see as a very positive development.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2cfe186071204a3e89ce49437bf3c8ba\" alt=\"OpenInsider\" title=\"OpenInsider\" tg-width=\"640\" tg-height=\"389\"/><span>OpenInsider</span></p><p>One of Palantir's founders, Peter Thiel, also sold $174.6M worth of shares, or about 6% of his total holdings, which we would also regard as a red flag. It is unknown why he sold shares, but we think it is probably overvaluation, as Peter Thiel has a net worth of $7.2BN, making it quite unlikely in our judgment that the sale was for liquidity reasons. Palantir itself also issued more shares when the share price rose in 2021 and 2023 instead of raising capital through debt issuance and despite the fact that the company already had ample liquidity on its balance sheet and was cash flow positive.</p><p>In 2022, for example, very little capital was raised through the issuance of common stock when the share price was depressed. This was also at a time when we believed the company was undervalued, and we gave a buy rating when the stock was trading below $10. All these insider sales, along with the issuance of more common shares, also give us negative signals about the people closest to the business and indirectly express in their actions that shares are likely to trade at a premium.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eccbc824b4a2d531ea8eaf2fc6decd0a\" alt=\"TIKR\" title=\"TIKR\" tg-width=\"640\" tg-height=\"384\"/><span>TIKR</span></p><h2 id=\"id_4202945376\">The Bottom Line</h2><p>In July 2022, when Palantir was trading at $9.76 per share, well before the release of ChatGPT and the general hype around AI, we gave our opinion that investors might underestimate Palantir's AI potential. Since this article, our idea has generated a significant alpha of 140.68% versus 32.61% for the S&P 500 (SP500).</p><p>However, the recent price action has caused us to reconsider our rating and ultimately change it from "Hold" to "Sell," as we believe the current AI tailwinds may not outweigh the premium valuation Palantir is currently trading at. In a perfect scenario, with annualized revenue of 2.43 billion in Q4 and hypothetical EBIT margins of 45%, which is close to Microsoft's margins and well above the industry average of 25.30%, Palantir would generate $1.10 billion in EBIT. Even if in an optimistic scenario where we forecast 30% revenue growth due to AI windfalls, at 1x Price to Earnings to Growth (PEG) or an EBIT multiplier of 30x, we are left with a valuation of 32.85BN or about $14.86 per share.</p><p>As Warren Buffett and Charlie Munger famously stated, investors should seek to buy great companies at fair prices. We believe Palantir is an absolutely great company, given the sticky nature of their revenue streams, the fact that they are fairly recession-proof, have a strong cushion with their balance sheet and have a great product offering. But as things stand now, we believe the shares are priced close to perfection.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir: AI Tailwinds May Not Outweigh Fundamentals</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir: AI Tailwinds May Not Outweigh Fundamentals\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-19 10:41 GMT+8 <a href=https://seekingalpha.com/article/4678985-palantir-ai-tailwinds-may-not-outweigh-fundamentals><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Palantir Technologies Inc. is uniquely positioned in the AI rally, avoiding the cyclical nature of hardware-focused companies.The company is already implementing large language models and driving real...</p>\n\n<a href=\"https://seekingalpha.com/article/4678985-palantir-ai-tailwinds-may-not-outweigh-fundamentals\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","PLTR":"Palantir Technologies Inc.","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","BK4141":"半导体产品","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1 Acc SGD-H","LU0541501648.USD":"ALLSPRING EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK7095":"多种金属与采矿","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0109392836.USD":"富兰克林科技股A","LU0171293334.USD":"贝莱德英国基金A2","BK4587":"ChatGPT概念","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund SGD","BK4585":"ETF&股票定投概念","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0444971666.USD":"天利全球科技基金"},"source_url":"https://seekingalpha.com/article/4678985-palantir-ai-tailwinds-may-not-outweigh-fundamentals","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2420223622","content_text":"Palantir Technologies Inc. is uniquely positioned in the AI rally, avoiding the cyclical nature of hardware-focused companies.The company is already implementing large language models and driving real-world value with diverse applications.Palantir's recent uptick in results and customer growth indicate potential for future top-line growth and margin expansion.Despite these recent positive developments, we believe that from a fundamental point of view shares are priced for perfection even in an optimistic scenario.Eugene Mymrin/Moment via Getty ImagesInvestment ThesisIn the world of booming equity markets, AI being the topic du jour, and companies like Nvidia (NVDA) reaching multi-billion dollar valuations at a record pace, our nature has generally been to question the current narrative. Overall, we began to assess whether valuations, even allowing for tremendous growth, remain justified at current levels.Interestingly enough, Palantir Technologies Inc. (NYSE:PLTR) was actually one of the first companies we identified before ChatGPT and the AI hype we find ourselves in now, as we felt that future developments in the sector were probably not yet priced into the stock when it was trading below $10 per share. However, after being up 309% since all-time lows in early 2023, we believe the fundamental picture has changed and that even despite the predicted AI tailwind we take into account in our rating, the stock price is likely ahead of the curve, citing certain red flags and fundamental metrics.Data by YChartsEvaluating AI TailwindsIn assessing Palantir's AI tailwinds with their AIP products, we would first like to highlight the fact that Palantir occupies a unique position in the current AI rally. Unlike other hardware-focused players who are leading this AI rally, such as Nvidia, Advanced Micro Devices (AMD), Taiwan Semiconductor (TSM), and others, we think Palantir is less caught up in the cyclical nature of these companies, which could in our view soon face a GPU glut as interest in AI wanes and the hype cools down.In this sense, Palantir is quite unique in the sense that it is fairly detached from a potential AI bubble and can benefit from the recent hype without experiencing the cyclical nature of the chip industry, and enjoys very stable revenues from contracts already in place with government agencies and major commercial players. Moreover, Palantir is also already implementing AI and creating real value by concretely implementing large language models to increase productivity with real-world applications. They demonstrated this at AIPCon last week and showed some recent applications that were quite diverse, from the legacy Lowe's (LOW) retail chain to new concept technologies such as eVTOLs with Archer Aviation (ACHR).We can see that in recent quarters Palantir is not only re-accelerating top-line revenue growth, but also achieving operational leverage as recent operating margins have risen from negative to a stellar 10.8%. This contrasts with other major tech players who are currently investing heavily in hardware and building large language models, pouring billions into R&D in the hope that future products and revenue streams will be derived from these models.TIKRLatest Q4 results also confirmed the recent uplift in results mostly as a result of the uptick in US Commercial customers which was up 55% YoY, or jumped from 181 customers to 221 last quarter. We believe there to be a lot of future leverage to be left in terms of top line growth as well as margin expansion on the already existing customer base which has notably widened.But going back to assessing AI tailwinds, we've previously successfully forecasted the advancements in AI using Metaculus, which is a platform that aggregates quantitative predictions from a large community to optimally predict future events. One of the largest polls which asks the question of when the \"first general AI system be devised, tested, and publicly announced,\" and is currently at December 2031. Before the rally in AI stocks, we saw this timeline shrink from around 2050 to 2030 right up until April 2022 and gave us the judgement that market participants were underpricing future developments in AI. During the recent AI rally, however, over the last 24 months, the timeline has remained fairly flat after the introduction of ChatGPT.This in our eyes means that the aggregate market has finally caught up with AI developments, and likely has priced it in fully in current valuations. This also means that if we were to be in a potential AI Bubble like the dot-com bubble, we believe it to be likely more the later stage of a bubble, prompting us to be rather held back on buying after the recent rally and would wait for more breakthroughs in the AI space for confirmation.MetaculusOn the government side, Palantir has been crushing AI developments, for example, with Project Maven already at the forefront of AI warfare being used on the battlefield. Earlier this month, Palantir also surprised positively by winning the U.S. Army's 2-year TITAN contract worth $178 million, which is surprising given also the hardware nature of the project and the fact that the government chose Palantir over Raytheon (RTX).The Fundamental PictureFundamentally, we believe Palantir's fundamentals may not currently outweigh the AI windfalls mentioned above. From a relative valuation perspective, we listed a number of metrics and determined that, in our opinion, Palantir remains very expensive at 18.15x forward EV/Sales ratio and 56.36x forward EV/EBITDA. We consider this very expensive despite revenue growth of 16.75% compared to other competitors in the software/ AI space such as Alteryx (AYX), Salesforce (CRM) and Microsoft (MSFT), which have similar growth characteristics but generally trade at less than 25x EV/EBITDA.Author's Visuals, Seeking Alpha DataEven Nvidia, which has a $2.16 trillion valuation, currently sits at an EV/EBITDA ratio of 30.60x forward with triple-digit ratios in terms of revenue and EBITDA growth. However, Palantir's valuation could soon become more reasonable as EBIT margins increase and finally move closer to the software industry average.These numbers seem relatively optimistic, however, as we prefer to define Palantir's true profitability as its current ability to generate free cash flow minus share-based compensation. We believe this is a metric that reflects Palantir's true profitability, given the large nature of stock-based compensation and insider sales, which we will discuss in a moment. Although this metric gets better each quarter, in the fourth quarter Palantir brought in $296.31 million in FCF, but still issued $132.61 million in stock-based compensation. That leaves $163.7 million in adjusted FCF or an annualized rate of $654.8 million. If we convert this to a multiple, the stock stands at 79.38x adjusted free cash flow, which we still think is pretty exuberant despite an expected revenue growth rate of nearly 20%.From an operating income perspective, Palantir is currently trading at 197.52x annualized Q4 operating income, which clocked in at $263.16M, which may come as a surprise to some as it is trading at a lower P/E ratio of 122.31 based on Q4 annualized net income of $425M. Something that many analysts actually overlook is, the fact that in the fourth quarter, beyond the $65.79 million in operating income, Palantir generated $44.55 million in interest and investment income from securities such as U.S. Treasuries from Palantir's $3.67 billion Total Cash And Short Term Investments, combined with the fact that Palantir has hardly any debt.TIKROver the past 12 months, Palantir actually generated more money from their balance sheet in terms of interest income than they generated income from operations. Which makes sense, given rising interest rates over the past 2 years, with the yield on 2-year U.S. Treasuries rising from nearly 0% to 4.73%.Currently, Palantir is expected to generate somewhere north of $170-$180M in interest income on their $3.67B of cash and short-term investments. At the core profitability level, even if we were to value Palantir on its gross profit, it still trades at a staggering 26x Q4 annualized gross profit.More Red FlagsTo dig deeper into stock-based compensation, we discount this factor when valuing Palantir, given both the nature and magnitude of stock-based compensation. Over the past 12 months, stock-based compensation amounted to a whopping $475.90M, and according to our calculations, insiders have sold/exercised stock options for more than $452M.Since in our view insiders use stock-based compensation almost as a salary, it is quite essential to the profitability/functioning of the organization to retain talent as a software company. While CEO Alex Karp's shares are stagnant, he still exercises options and sells shares for tens of millions of dollars a year, which has a dilutive effect for existing shareholders. On the other hand, share-based compensation has gradually declined over the past 2 years, while free cash flow has increased, which we see as a very positive development.OpenInsiderOne of Palantir's founders, Peter Thiel, also sold $174.6M worth of shares, or about 6% of his total holdings, which we would also regard as a red flag. It is unknown why he sold shares, but we think it is probably overvaluation, as Peter Thiel has a net worth of $7.2BN, making it quite unlikely in our judgment that the sale was for liquidity reasons. Palantir itself also issued more shares when the share price rose in 2021 and 2023 instead of raising capital through debt issuance and despite the fact that the company already had ample liquidity on its balance sheet and was cash flow positive.In 2022, for example, very little capital was raised through the issuance of common stock when the share price was depressed. This was also at a time when we believed the company was undervalued, and we gave a buy rating when the stock was trading below $10. All these insider sales, along with the issuance of more common shares, also give us negative signals about the people closest to the business and indirectly express in their actions that shares are likely to trade at a premium.TIKRThe Bottom LineIn July 2022, when Palantir was trading at $9.76 per share, well before the release of ChatGPT and the general hype around AI, we gave our opinion that investors might underestimate Palantir's AI potential. Since this article, our idea has generated a significant alpha of 140.68% versus 32.61% for the S&P 500 (SP500).However, the recent price action has caused us to reconsider our rating and ultimately change it from \"Hold\" to \"Sell,\" as we believe the current AI tailwinds may not outweigh the premium valuation Palantir is currently trading at. In a perfect scenario, with annualized revenue of 2.43 billion in Q4 and hypothetical EBIT margins of 45%, which is close to Microsoft's margins and well above the industry average of 25.30%, Palantir would generate $1.10 billion in EBIT. Even if in an optimistic scenario where we forecast 30% revenue growth due to AI windfalls, at 1x Price to Earnings to Growth (PEG) or an EBIT multiplier of 30x, we are left with a valuation of 32.85BN or about $14.86 per share.As Warren Buffett and Charlie Munger famously stated, investors should seek to buy great companies at fair prices. We believe Palantir is an absolutely great company, given the sticky nature of their revenue streams, the fact that they are fairly recession-proof, have a strong cushion with their balance sheet and have a great product offering. But as things stand now, we believe the shares are priced close to perfection.","news_type":1},"isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":286271465505016,"gmtCreate":1710925215706,"gmtModify":1710925219330,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286271465505016","repostId":"2420200462","repostType":2,"repost":{"id":"2420200462","pubTimestamp":1710924693,"share":"https://www.laohu8.com/m/news/2420200462?lang=&edition=full","pubTime":"2024-03-20 16:51","market":"us","language":"en","title":"Prediction: Nvidia Will Become the World's Largest Company. Here's Why","url":"https://stock-news.laohu8.com/highlight/detail?id=2420200462","media":"Motley Fool","summary":"You don't need a crystal ball to see that Nvidia is rapidly closing the gap on Microsoft and Apple.","content":"<html><head></head><body><ul style=\"\"><li><p>Nvidia's eye-popping market cap of $2.2 trillion puts it within striking distance of Apple and Microsoft.</p></li><li><p>With the generative AI market expected to double by 2027, its growth prospects look fantastic.</p></li></ul><p>Let's cut right to the chase: Nvidia is on track to become the world's largest company. Think that's going too far? I don't. Here's why.</p><h2 id=\"id_1396484112\">It's already the world's third-largest company</h2><p>As of this writing, Nvidia has a market cap of $2.2 trillion, making it the third-largest American company, behind only Microsoft and Apple.</p><table style=\"border-collapse:collapse;\"><tbody><tr><th style=\"text-align:left;\"><p>Company Name</p></th><th style=\"text-align:left;\"><p>Symbol</p></th><th style=\"text-align:left;\"><p>Market Cap (in billions)</p></th></tr><tr><td style=\"text-align:left;\"><p>Microsoft</p></td><td style=\"text-align:left;\"><p>MSFT</p></td><td style=\"text-align:left;\"><p>$3,094</p></td></tr><tr><td style=\"text-align:left;\"><p>Apple</p></td><td style=\"text-align:left;\"><p>AAPL</p></td><td style=\"text-align:left;\"><p>$2,665</p></td></tr><tr><td style=\"text-align:left;\"><p>Nvidia</p></td><td style=\"text-align:left;\"><p>NVDA</p></td><td style=\"text-align:left;\"><p>$2,195</p></td></tr><tr><td style=\"text-align:left;\"><p>Amazon</p></td><td style=\"text-align:left;\"><p>AMZN</p></td><td style=\"text-align:left;\"><p>$1,811</p></td></tr><tr><td style=\"text-align:left;\"><p>Alphabet</p></td><td style=\"text-align:left;\"><p>GOOG</p></td><td style=\"text-align:left;\"><p>$1,761</p></td></tr></tbody></table><p>That puts it 'only' $500 billion behind Apple and about $1 trillion behind Microsoft. To put it another way, Nvidia could surpass Apple if its stock were to rally by 23%; it could pass Microsoft if it rallied by 46%.</p><h2 id=\"id_456433174\">Why Nvidia could top Microsoft and Apple</h2><p>Why do I think this will happen? Two words come to mind: Artificial Intelligence (AI). In short, the world has gone head-over-heels for AI. Consider this chart below:</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/54f4b40afdbb4c733ef299b38fbaa585\" tg-width=\"700\" tg-height=\"520\"/></p><p>Image source: Getty Images.</p><p>According to Statista, the overall Generative AI market stood at $44.9 billion in 2023. By 2030, that figure is expected to rise to $207 billion. Generative AI, which can create images, stories, music, and video, is already upending entire industries. Marketing, software design, and customer service are just a few sectors likely to be transformed over the next decade as generative AI products grow in popularity.</p><h2 id=\"id_525139446\">How Nvidia will benefit</h2><p>In short, Nvidia stands to profit from the AI revolution more than any other company, thanks to its leading share of the Graphics Processing Unit (GPU) market.</p><p>GPUs are the 'brains' behind cutting-edge AI applications like ChatGPT and Midjourney. And to build those brains, companies like OpenAI need tens of thousands of GPUs -- often designed by Nvidia.</p><p>To sum up, thanks to its commanding place in the GPU market, I think Nvidia can ride the AI wave to the top of the list of most valuable companies in the world.</p></body></html>","source":"fool_stock","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>Prediction: Nvidia Will Become the World's Largest Company. Here's Why</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPrediction: Nvidia Will Become the World's Largest Company. Here's Why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-20 16:51 GMT+8 <a href=https://www.fool.com/investing/2024/03/19/prediction-nvidia-worlds-largest-company/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia's eye-popping market cap of $2.2 trillion puts it within striking distance of Apple and Microsoft.With the generative AI market expected to double by 2027, its growth prospects look fantastic....</p>\n\n<a href=\"https://www.fool.com/investing/2024/03/19/prediction-nvidia-worlds-largest-company/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2024/03/19/prediction-nvidia-worlds-largest-company/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2420200462","content_text":"Nvidia's eye-popping market cap of $2.2 trillion puts it within striking distance of Apple and Microsoft.With the generative AI market expected to double by 2027, its growth prospects look fantastic.Let's cut right to the chase: Nvidia is on track to become the world's largest company. Think that's going too far? I don't. Here's why.It's already the world's third-largest companyAs of this writing, Nvidia has a market cap of $2.2 trillion, making it the third-largest American company, behind only Microsoft and Apple.Company NameSymbolMarket Cap (in billions)MicrosoftMSFT$3,094AppleAAPL$2,665NvidiaNVDA$2,195AmazonAMZN$1,811AlphabetGOOG$1,761That puts it 'only' $500 billion behind Apple and about $1 trillion behind Microsoft. To put it another way, Nvidia could surpass Apple if its stock were to rally by 23%; it could pass Microsoft if it rallied by 46%.Why Nvidia could top Microsoft and AppleWhy do I think this will happen? Two words come to mind: Artificial Intelligence (AI). In short, the world has gone head-over-heels for AI. Consider this chart below:Image source: Getty Images.According to Statista, the overall Generative AI market stood at $44.9 billion in 2023. By 2030, that figure is expected to rise to $207 billion. Generative AI, which can create images, stories, music, and video, is already upending entire industries. Marketing, software design, and customer service are just a few sectors likely to be transformed over the next decade as generative AI products grow in popularity.How Nvidia will benefitIn short, Nvidia stands to profit from the AI revolution more than any other company, thanks to its leading share of the Graphics Processing Unit (GPU) market.GPUs are the 'brains' behind cutting-edge AI applications like ChatGPT and Midjourney. And to build those brains, companies like OpenAI need tens of thousands of GPUs -- often designed by Nvidia.To sum up, thanks to its commanding place in the GPU market, I think Nvidia can ride the AI wave to the top of the list of most valuable companies in the world.","news_type":1},"isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":285860886712416,"gmtCreate":1710825062369,"gmtModify":1710825065974,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/285860886712416","repostId":"2420286936","repostType":2,"repost":{"id":"2420286936","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1710818803,"share":"https://www.laohu8.com/m/news/2420286936?lang=&edition=full","pubTime":"2024-03-19 11:26","market":"hk","language":"en","title":"Why Earnings Growth, Not the Fed's Interest-Rate Policy, Is Driving U.S. Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2420286936","media":"Dow Jones","summary":"U.S. stocks have been unaffected by higher interest rates from the world's most powerful central bank over the past few years, as incremental earnings growth gives investors ample reasons to pour money into equities even amid an increasingly gloomy policy-rate outlook, according to DataTrek Research.Corporate earnings growth matters more to stock prices than the Federal Reserve's interest-rate policy over the longer run, Nicholas Colas, co-founder of DataTrek Research, said Monday in a client note.U.S. stocks have \"entirely\" ignored structurally higher Fed-funds rates since 2019 and moved almost exactly in line with corporate earnings power, said Colas. The yield on the 2-year Treasury note BX:TMUBMUSD02Y, a proxy for the market's expectations of the central bank's future monetary policy, has risen to 4.747% on Monday from around 1.6% at the end of 2019, while the S&P 500 index SPX has advanced 58% over the same period with its earnings up 46%, according to data compiled by DataTrek.\"E","content":"<html><head></head><body><p>U.S. stocks have been unaffected by higher interest rates from the world's most powerful central bank over the past few years, as incremental earnings growth gives investors ample reasons to pour money into equities even amid an increasingly gloomy policy-rate outlook, according to DataTrek Research.</p><p>Corporate earnings growth matters more to stock prices than the Federal Reserve's interest-rate policy over the longer run, Nicholas Colas, co-founder of DataTrek Research, said Monday in a client note.</p><p>U.S. stocks have "entirely" ignored structurally higher Fed-funds rates since 2019 and moved almost exactly in line with corporate earnings power, said Colas. The yield on the 2-year Treasury note BX:TMUBMUSD02Y, a proxy for the market's expectations of the central bank's future monetary policy, has risen to 4.747% on Monday from around 1.6% at the end of 2019, while the S&P 500 index SPX has advanced 58% over the same period with its earnings up 46%, according to data compiled by DataTrek.</p><p>"Higher long-term rates have not hurt equity valuations one bit," Colas said, adding that even if the Fed does not start cutting interest rates this year, a stronger-than-expected U.S. economy can still deliver earnings growth and high stock prices.</p><p>So far this year, a slew of hotter-than-expected inflation reports has forced investors to reconsider expectations for the Fed's rate-cut outlook. The number of cuts has been dialed back aggressively in the interest-rate futures market over the past two months.</p><p>Fed-funds futures traders now price in three quarter-point cuts in 2024, starting from June - down from expectations of six or seven at the start of the year, starting from March or May, according to the CME FedWatch Tool.</p><p>However, the stock market hasn't seemed bothered. Last week, the S&P 500 closed at its 17th all-time high on Tuesday after the February CPI report, bringing the year-to-date return for the large-cap index to 8.1%. The Nasdaq Composite COMP gained 7.4% in 2024 so far, while the Dow Jones Industrial Average DJIA was up 3.1% over the same period, according to FactSet data.</p><p>U.S. stocks were also surging on Monday as investors looked ahead to Fed Chair Jerome Powell's remarks and an update to the Summary of Economic Projections at the end of the Federal Open Market Committee meeting on Wednesday afternoon.</p><p>The Nasdaq was jumping over 1%, while the Dow industrials were up 0.4% and the S&P 500 was rising 0.8% on Monday afternoon, according to FactSet data.</p><p>"Earnings growth is the most important driver of stock prices, with Fed policy a side show unless a recession starts to unfold," said Colas. He admitted that stocks may turn "wobbly" when Powell and the FOMC start talking about fewer rate cuts this year, but that is "not a sufficient reason to turn bearish [on stocks]."</p><p>Instead, a Fed hawkish pivot would be a sign that the economy remains reasonably strong, a good backdrop for improving corporate earnings in 2024 and 2025, Colas wrote on Monday.</p><p>The S&P 500 index is expected to post an 11.2% earning-per-share improvement in 2024. It is also forecast to report year-over-year earnings growth of 3.3% in the first quarter of 2024, said John Butters, senior earnings analyst at FactSet Research.</p><p>If 3.3% is the actual growth rate for the three-month period ending March 31, it will mark the third consecutive quarter of year-over-year earnings growth for the S&P 500, Butters said in a Friday note.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Earnings Growth, Not the Fed's Interest-Rate Policy, Is Driving U.S. Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Earnings Growth, Not the Fed's Interest-Rate Policy, Is Driving U.S. Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-03-19 11:26</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks have been unaffected by higher interest rates from the world's most powerful central bank over the past few years, as incremental earnings growth gives investors ample reasons to pour money into equities even amid an increasingly gloomy policy-rate outlook, according to DataTrek Research.</p><p>Corporate earnings growth matters more to stock prices than the Federal Reserve's interest-rate policy over the longer run, Nicholas Colas, co-founder of DataTrek Research, said Monday in a client note.</p><p>U.S. stocks have "entirely" ignored structurally higher Fed-funds rates since 2019 and moved almost exactly in line with corporate earnings power, said Colas. The yield on the 2-year Treasury note BX:TMUBMUSD02Y, a proxy for the market's expectations of the central bank's future monetary policy, has risen to 4.747% on Monday from around 1.6% at the end of 2019, while the S&P 500 index SPX has advanced 58% over the same period with its earnings up 46%, according to data compiled by DataTrek.</p><p>"Higher long-term rates have not hurt equity valuations one bit," Colas said, adding that even if the Fed does not start cutting interest rates this year, a stronger-than-expected U.S. economy can still deliver earnings growth and high stock prices.</p><p>So far this year, a slew of hotter-than-expected inflation reports has forced investors to reconsider expectations for the Fed's rate-cut outlook. The number of cuts has been dialed back aggressively in the interest-rate futures market over the past two months.</p><p>Fed-funds futures traders now price in three quarter-point cuts in 2024, starting from June - down from expectations of six or seven at the start of the year, starting from March or May, according to the CME FedWatch Tool.</p><p>However, the stock market hasn't seemed bothered. Last week, the S&P 500 closed at its 17th all-time high on Tuesday after the February CPI report, bringing the year-to-date return for the large-cap index to 8.1%. The Nasdaq Composite COMP gained 7.4% in 2024 so far, while the Dow Jones Industrial Average DJIA was up 3.1% over the same period, according to FactSet data.</p><p>U.S. stocks were also surging on Monday as investors looked ahead to Fed Chair Jerome Powell's remarks and an update to the Summary of Economic Projections at the end of the Federal Open Market Committee meeting on Wednesday afternoon.</p><p>The Nasdaq was jumping over 1%, while the Dow industrials were up 0.4% and the S&P 500 was rising 0.8% on Monday afternoon, according to FactSet data.</p><p>"Earnings growth is the most important driver of stock prices, with Fed policy a side show unless a recession starts to unfold," said Colas. He admitted that stocks may turn "wobbly" when Powell and the FOMC start talking about fewer rate cuts this year, but that is "not a sufficient reason to turn bearish [on stocks]."</p><p>Instead, a Fed hawkish pivot would be a sign that the economy remains reasonably strong, a good backdrop for improving corporate earnings in 2024 and 2025, Colas wrote on Monday.</p><p>The S&P 500 index is expected to post an 11.2% earning-per-share improvement in 2024. It is also forecast to report year-over-year earnings growth of 3.3% in the first quarter of 2024, said John Butters, senior earnings analyst at FactSet Research.</p><p>If 3.3% is the actual growth rate for the three-month period ending March 31, it will mark the third consecutive quarter of year-over-year earnings growth for the S&P 500, Butters said in a Friday note.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2420286936","content_text":"U.S. stocks have been unaffected by higher interest rates from the world's most powerful central bank over the past few years, as incremental earnings growth gives investors ample reasons to pour money into equities even amid an increasingly gloomy policy-rate outlook, according to DataTrek Research.Corporate earnings growth matters more to stock prices than the Federal Reserve's interest-rate policy over the longer run, Nicholas Colas, co-founder of DataTrek Research, said Monday in a client note.U.S. stocks have \"entirely\" ignored structurally higher Fed-funds rates since 2019 and moved almost exactly in line with corporate earnings power, said Colas. The yield on the 2-year Treasury note BX:TMUBMUSD02Y, a proxy for the market's expectations of the central bank's future monetary policy, has risen to 4.747% on Monday from around 1.6% at the end of 2019, while the S&P 500 index SPX has advanced 58% over the same period with its earnings up 46%, according to data compiled by DataTrek.\"Higher long-term rates have not hurt equity valuations one bit,\" Colas said, adding that even if the Fed does not start cutting interest rates this year, a stronger-than-expected U.S. economy can still deliver earnings growth and high stock prices.So far this year, a slew of hotter-than-expected inflation reports has forced investors to reconsider expectations for the Fed's rate-cut outlook. The number of cuts has been dialed back aggressively in the interest-rate futures market over the past two months.Fed-funds futures traders now price in three quarter-point cuts in 2024, starting from June - down from expectations of six or seven at the start of the year, starting from March or May, according to the CME FedWatch Tool.However, the stock market hasn't seemed bothered. Last week, the S&P 500 closed at its 17th all-time high on Tuesday after the February CPI report, bringing the year-to-date return for the large-cap index to 8.1%. The Nasdaq Composite COMP gained 7.4% in 2024 so far, while the Dow Jones Industrial Average DJIA was up 3.1% over the same period, according to FactSet data.U.S. stocks were also surging on Monday as investors looked ahead to Fed Chair Jerome Powell's remarks and an update to the Summary of Economic Projections at the end of the Federal Open Market Committee meeting on Wednesday afternoon.The Nasdaq was jumping over 1%, while the Dow industrials were up 0.4% and the S&P 500 was rising 0.8% on Monday afternoon, according to FactSet data.\"Earnings growth is the most important driver of stock prices, with Fed policy a side show unless a recession starts to unfold,\" said Colas. He admitted that stocks may turn \"wobbly\" when Powell and the FOMC start talking about fewer rate cuts this year, but that is \"not a sufficient reason to turn bearish [on stocks].\"Instead, a Fed hawkish pivot would be a sign that the economy remains reasonably strong, a good backdrop for improving corporate earnings in 2024 and 2025, Colas wrote on Monday.The S&P 500 index is expected to post an 11.2% earning-per-share improvement in 2024. It is also forecast to report year-over-year earnings growth of 3.3% in the first quarter of 2024, said John Butters, senior earnings analyst at FactSet Research.If 3.3% is the actual growth rate for the three-month period ending March 31, it will mark the third consecutive quarter of year-over-year earnings growth for the S&P 500, Butters said in a Friday note.","news_type":1},"isVote":1,"tweetType":1,"viewCount":27,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":285832429539512,"gmtCreate":1710818016013,"gmtModify":1710818018009,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/285832429539512","repostId":"2420238462","repostType":2,"repost":{"id":"2420238462","pubTimestamp":1710801655,"share":"https://www.laohu8.com/m/news/2420238462?lang=&edition=full","pubTime":"2024-03-19 06:40","market":"us","language":"en","title":"Nvidia Reveals Blackwell B200 GPU, The \"World’s Most Powerful Chip\" for AI","url":"https://stock-news.laohu8.com/highlight/detail?id=2420238462","media":"The Verge","summary":"Nvidia’s must-have H100 AI chip made it a multitrillion-dollar company, one that may be worth more than Alphabet and Amazon, and competitors have been fighting to catch up. But perhaps Nvidia is about","content":"<html><head></head><body><p>【<a href=\"https://ttm.financial/RN?name=RNLive&rndata=%7B%22liveId%22:%221793027278299171%22,%22type%22:1%7D\" title=\"Watch Now: GTC Jensen Huang’s Keynote Speech\" target=\"_blank\">Watch Now: GTC Jensen Huang’s Keynote Speech</a>】</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/881ba52cdbeba404e9f9193b8b982753\" title=\"The Blackwell B200 GPU.\" tg-width=\"2400\" tg-height=\"1600\"/><span>The Blackwell B200 GPU.</span></p><p>Nvidia’s must-have H100 AI chip made it a multitrillion-dollar company, one that may be worth more than Alphabet and Amazon, and competitors have been fighting to catch up. But perhaps Nvidia is about to extend its lead — with the new Blackwell B200 GPU and GB200 “superchip.”</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/faa3f418929a50c10b1a17ba95e16329\" title=\"Nvidia CEO Jensen Huang holds up his new GPU on the left, next to an H100 on the right, from the GTC livestream.\" tg-width=\"2400\" tg-height=\"1425\"/><span>Nvidia CEO Jensen Huang holds up his new GPU on the left, next to an H100 on the right, from the GTC livestream.</span></p><p>Nvidia shares slipped 1.4% in after hours trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/48dc2c9766cac9fe87e0b25e3dfeadf5\" title=\"\" tg-width=\"847\" tg-height=\"829\"/></p><p>Nvidia says the new B200 GPU offers up to 20 <em>petaflops </em>of FP4 horsepower from its 208 billion transistors, and that a GB200 that combines two of those GPUs with a single Grace CPU can offer 30 times the performance for LLM inference workloads while also potentially being substantially more efficient. It “reduces cost and energy consumption by up to 25x” over an H100, says Nvidia.</p><p>On a GPT-3 LLM benchmark with 175 billion parameters, Nvidia says the GB200 has a somewhat more modest 7 times the performance of an H100, and Nvidia says it offers 4x the training speed.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9b2dc6bf1fce0939104ea042dbcc96ee\" title=\"Here’s what one GB200 looks like. Two GPUs, one CPU, one board.\" tg-width=\"2400\" tg-height=\"1633\"/><span>Here’s what one GB200 looks like. Two GPUs, one CPU, one board.</span></p><p>Nvidia told journalists one of the key differences is a second-gen transformer engine that doubles the compute, bandwidth, and model size by using four bits for each neuron instead of eight (thus the 20 petaflops of FP4 I mention earlier.) A second key difference only comes when you link up huge numbers of these GPUs in a server: a next-gen NVLink networking solution that lets 576 GPUs talk to each other, with 1.8 terabytes per second of bidirectional bandwidth.</p><p>That required Nvidia to build an entire new network switch chip, one with 50 billion transistors and some of its own onboard compute: 3.6 teraflops of FP8, says Nvidia.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9147c538f644bcdae0bd7421a57fa706\" title=\"Nvidia says it’s adding both FP4 and FP6 with Blackwell.\" tg-width=\"2400\" tg-height=\"1363\"/><span>Nvidia says it’s adding both FP4 and FP6 with Blackwell.</span></p><p>Previously, Nvidia says, a cluster of just 16 GPUs would spend 60 percent of their time communicating with one another and only 40 percent actually computing.</p><p>Nvidia is counting on companies buying large quantities of these GPUs, of course, and is packaging them in larger supercomputer-ready designs, like the GB200 NVL72 which plugs 36 CPUs and 72 GPUs into a single liquid-cooled rack for a total of 720 petaflops of AI training performance or 1,440 petaflops (aka 1.4 <em>exaflops</em>) of inference. It has nearly two miles of cables inside, with 5,000 individual cables.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/3c31b5f312fa568f1ca0881310b23248\" title=\"The GB200 NVL72.\" tg-width=\"2400\" tg-height=\"1814\"/><span>The GB200 NVL72.</span></p><p>Each tray in the rack contains either two GB200 chips, or two NVLink switches, with 18 of the former and 9 of the latter per rack. In total, Nvidia says one of these racks can support a 27-trillion parameter model. GPT-4 is rumored to be around a 1.7-trillion parameter model.</p><p>The company says Amazon, Google, Microsoft, and Oracle are all already planning to offer the NVL72 racks in their cloud service offerings, though it’s not clear how many they’re buying.</p><p>And of course, Nvidia is happy to offer companies the rest of the solution, too. Here’s the DGX Superpod for DGX GB200, which combines eight systems in one for a total of 288 CPUs, 576 GPUs, 240TB of memory, and 11.5 exaflops of FP4 computing.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5fed30ea06faa08938ddcdf171f7594c\" title=\"\" tg-width=\"2400\" tg-height=\"962\"/></p><p>Nvidia says its systems can scale to tens of thousands of the GB200 superchips, connected together with 800Gbps networking with its new Quantum-X800 Infiniband (for up to 144 connections) or Spectrum-X800 Ethernet (for up to 64 connections).</p><p>We don’t expect to hear anything about new gaming GPUs today, as this news is coming out of Nvidia’s GPU Technology Conference, which is usually almost entirely focused on GPU computing and AI, not gaming. But the Blackwell GPU architecture will likely also power a future RTX 50-series lineup of desktop graphics cards.</p></body></html>","source":"theverge_highlight","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>Nvidia Reveals Blackwell B200 GPU, The \"World’s Most Powerful Chip\" for AI</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia Reveals Blackwell B200 GPU, The \"World’s Most Powerful Chip\" for AI\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-19 06:40 GMT+8 <a href=https://www.theverge.com/2024/3/18/24105157/nvidia-blackwell-gpu-b200-ai><strong>The Verge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>【Watch Now: GTC Jensen Huang’s Keynote Speech】The Blackwell B200 GPU.Nvidia’s must-have H100 AI chip made it a multitrillion-dollar company, one that may be worth more than Alphabet and Amazon, and ...</p>\n\n<a href=\"https://www.theverge.com/2024/3/18/24105157/nvidia-blackwell-gpu-b200-ai\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","BK4549":"软银资本持仓","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","BK4514":"搜索引擎","LU1691799644.USD":"Amundi Funds Polen Capital Global Growth A2 (C) USD","BK4548":"巴美列捷福持仓","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU0354030511.USD":"ALLSPRING U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1 Acc SGD-H","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","BK4553":"喜马拉雅资本持仓","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4567":"ESG概念","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4534":"瑞士信贷持仓","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0109391861.USD":"富兰克林美国机遇基金A Acc","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0079474960.USD":"联博美国增长基金A","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","BK4538":"云计算","BK4543":"AI","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0061474960.USD":"天利环球焦点基金AU Acc","BK4550":"红杉资本持仓","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC"},"source_url":"https://www.theverge.com/2024/3/18/24105157/nvidia-blackwell-gpu-b200-ai","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2420238462","content_text":"【Watch Now: GTC Jensen Huang’s Keynote Speech】The Blackwell B200 GPU.Nvidia’s must-have H100 AI chip made it a multitrillion-dollar company, one that may be worth more than Alphabet and Amazon, and competitors have been fighting to catch up. But perhaps Nvidia is about to extend its lead — with the new Blackwell B200 GPU and GB200 “superchip.”Nvidia CEO Jensen Huang holds up his new GPU on the left, next to an H100 on the right, from the GTC livestream.Nvidia shares slipped 1.4% in after hours trading.Nvidia says the new B200 GPU offers up to 20 petaflops of FP4 horsepower from its 208 billion transistors, and that a GB200 that combines two of those GPUs with a single Grace CPU can offer 30 times the performance for LLM inference workloads while also potentially being substantially more efficient. It “reduces cost and energy consumption by up to 25x” over an H100, says Nvidia.On a GPT-3 LLM benchmark with 175 billion parameters, Nvidia says the GB200 has a somewhat more modest 7 times the performance of an H100, and Nvidia says it offers 4x the training speed.Here’s what one GB200 looks like. Two GPUs, one CPU, one board.Nvidia told journalists one of the key differences is a second-gen transformer engine that doubles the compute, bandwidth, and model size by using four bits for each neuron instead of eight (thus the 20 petaflops of FP4 I mention earlier.) A second key difference only comes when you link up huge numbers of these GPUs in a server: a next-gen NVLink networking solution that lets 576 GPUs talk to each other, with 1.8 terabytes per second of bidirectional bandwidth.That required Nvidia to build an entire new network switch chip, one with 50 billion transistors and some of its own onboard compute: 3.6 teraflops of FP8, says Nvidia.Nvidia says it’s adding both FP4 and FP6 with Blackwell.Previously, Nvidia says, a cluster of just 16 GPUs would spend 60 percent of their time communicating with one another and only 40 percent actually computing.Nvidia is counting on companies buying large quantities of these GPUs, of course, and is packaging them in larger supercomputer-ready designs, like the GB200 NVL72 which plugs 36 CPUs and 72 GPUs into a single liquid-cooled rack for a total of 720 petaflops of AI training performance or 1,440 petaflops (aka 1.4 exaflops) of inference. It has nearly two miles of cables inside, with 5,000 individual cables.The GB200 NVL72.Each tray in the rack contains either two GB200 chips, or two NVLink switches, with 18 of the former and 9 of the latter per rack. In total, Nvidia says one of these racks can support a 27-trillion parameter model. GPT-4 is rumored to be around a 1.7-trillion parameter model.The company says Amazon, Google, Microsoft, and Oracle are all already planning to offer the NVL72 racks in their cloud service offerings, though it’s not clear how many they’re buying.And of course, Nvidia is happy to offer companies the rest of the solution, too. Here’s the DGX Superpod for DGX GB200, which combines eight systems in one for a total of 288 CPUs, 576 GPUs, 240TB of memory, and 11.5 exaflops of FP4 computing.Nvidia says its systems can scale to tens of thousands of the GB200 superchips, connected together with 800Gbps networking with its new Quantum-X800 Infiniband (for up to 144 connections) or Spectrum-X800 Ethernet (for up to 64 connections).We don’t expect to hear anything about new gaming GPUs today, as this news is coming out of Nvidia’s GPU Technology Conference, which is usually almost entirely focused on GPU computing and AI, not gaming. But the Blackwell GPU architecture will likely also power a future RTX 50-series lineup of desktop graphics cards.","news_type":1},"isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":285831975538936,"gmtCreate":1710817918351,"gmtModify":1710817920316,"author":{"id":"3579479350969407","authorId":"3579479350969407","name":"DdAlpha1","avatar":"https://static.tigerbbs.com/2b87e35294ae070b87a67eabcf83f904","crmLevel":2,"crmLevelSwitch":1},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/285831975538936","repostId":"2420939402","repostType":2,"repost":{"id":"2420939402","pubTimestamp":1710817848,"share":"https://www.laohu8.com/m/news/2420939402?lang=&edition=full","pubTime":"2024-03-19 11:10","market":"us","language":"en","title":"Micron's Fiscal Q2 2024 Earnings Preview With Eyes On HBMx","url":"https://stock-news.laohu8.com/highlight/detail?id=2420939402","media":"Seeking Alpha","summary":"Micron is set to announce its Q2 2024 earnings results on March 20 with focus areas on memory market recovery and increased demand for HBM in AI applications.Micron aims to allocate 30% of sales to ca","content":"<html><head></head><body><ul style=\"\"><li><p>Micron is set to announce its Q2 2024 earnings results on March 20 with focus areas on memory market recovery and increased demand for HBM in AI applications.</p></li><li><p>Micron aims to allocate 30% of sales to capex and 10% to R&D, following industry peers' practices.</p></li><li><p>Micron's HBM3x memory and its volume production are expected to contribute to revenue growth in 2024 and 2025.</p></li><li><p>Micron's share of the HBMx market will reach 2.9% in 2024 growing to 15% in 2025.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7964be9020e97774ac97eaf25dda4e3c\" alt=\"Roman Starchenko\" title=\"Roman Starchenko\" tg-width=\"750\" tg-height=\"500\"/><span>Roman Starchenko</span></p><p>Micron Technology, Inc. (NASDAQ:MU) announces its Fiscal 2Q2024 earnings call on March 20, 2024. Key areas of focus will be on a recovery in the memory market and increased demand for High Bandwidth Memory ("HBM"), particularly aimed at artificial intelligence ("AI") applications.</p><p>MU's guidance for Q2 revenue, given in its Q1 call, is between $5.1B and $5.5B, with the mid-point above the $4.99B estimate. On an adjusted basis, it expects to lose between $0.21 and $0.35 per share.</p><p>There are several key trends that are expected to influence Micron's performance in this quarter.</p><h2 id=\"id_1227198095\">Memory Pricing and Capex</h2><p>Memory Pricing Trends: The DRAM industry, including leaders like Micron and Samsung Electronics Co., Ltd. (OTCPK:SSNLF), has observed a strategic pullback in memory production capacity investments (capex), as shown in Chart 1.</p><p>Micron aims to allocate approximately 30% of its sales to capital expenditures and around 10% of its sales to research and development. These allocations are in line with the practices of industry peers.</p><p>Although a robust demand recovery is anticipated in the second half of 2024, SK hynix is not expected to pursue aggressive capital expenditure ("capex") increases this year. Instead, the company's focus seems to be on technology migration rather than expanding production capacity. SK Hynix has outlined a capex plan of W13 trillion for 2024, representing a nearly 50% year-over-year increase but only reaching 70% of the levels seen in 2022-23. The majority of this spending is likely to occur in the latter half of 2024.</p><p>For Samsung, capex on memory primarily focused on enhancing infrastructure at the Pyeongtaek facility in Korea and expanding production capacity for High Bandwidth Memory (HBM), DDR5, and other advanced nodes. Capex will likely drop to about W49 trillion in 2024.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b0cfd260b436a6d493c4fbd6dde8b069\" alt=\"The Information Network\" title=\"The Information Network\" tg-width=\"640\" tg-height=\"216\"/><span>The Information Network</span></p><p>This controlled approach to supply has beneficially impacted memory pricing. Additionally, demand for memory replenishment from smartphones and PCs witnessing growth. Chart 1 shows the recovery of DRAM ASPs (average selling prices).</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a65cffe0b62f2f34743e1abbf6f0f471\" alt=\"The Information Network\" title=\"The Information Network\" tg-width=\"640\" tg-height=\"465\"/><span>The Information Network</span></p><h2 id=\"id_1875066855\">HBM Memory</h2><p>Generative AI Impact: The surge in generative AI tools, notably those like ChatGPT, is significantly contributing to the heightened demand for memory. These AI applications require substantial DRAM and storage resources for effective operation.</p><p>Micron was late to the HBM sector crucial for AI model training and inferencing, which I reported in a June 23, 2023 Seeking Alpha article entitled Micron: Late To The Game AI Strategy And Politics Do Not Make For A Strong Company.</p><p>Nevertheless, it has made significant strides with the announcement of its advanced second-generation HBM3 memory, which I discussed in a January 1, 2024, Seeking Alpha article entitled Micron: Korean Memory Competitors Are Just Too Formidable, and noted:</p><p>"Micron positions its HBM3 Gen2 as a significant advancement, boasting a 50% improvement over base HBM3 chips from competitors Samsung Electronics and SK hynix. Micron's offering also provides 50% more memory density than the HBM3 Gen2, also known as HBM3E, introduced by rivals. The company anticipates a 15% performance boost compared to the 8 GT/second target set for SK hynix's HBM3E memory."</p><p>In a February 26, 2024 press release, Micron announced it has begun volume production of its HBM3E (High Bandwidth Memory 3E) solution. Micron's 24GB 8H HBM3E will be part of NVIDIA Corporation (NVDA) H200 Tensor Core GPUs, which will begin shipping in the second calendar quarter of 2024.</p><p>Sanjay Mehrotra noted in the company's fiscal Q1 2024 earnings call:</p><blockquote><p>"We are on track to begin our HBM3E volume production ramp in early calendar 2024 and to generate several hundred million dollars of HBM revenue in fiscal 2024. We expect continued HBM revenue growth in 2025, and we continue to expect that our HBM market share will match our overall DRAM bit share sometime in calendar 2025."</p></blockquote><p>What share of the market is "several hundred millions of dollars?" While Micron's fiscal 2024 is one quarter different from a calendar year, for simplicity, using $10.36 billion for CY 2024 and $300 million as "several hundred millions", I estimate that Micron will have a 2.9% share of the HBMx market in 2024, as per Table 2.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1d357d685092be4c196dc7ed9c039ba2\" alt=\"The Information Network\" title=\"The Information Network\" tg-width=\"640\" tg-height=\"236\"/><span>The Information Network</span></p><p>Mehrotra above also estimates that in CY 2025, Micron's HBMx share will match its overall DRAM bit share.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fe409991a1d28330fda27248e827a16d\" alt=\"The Information Network\" title=\"The Information Network\" tg-width=\"640\" tg-height=\"253\"/><span>The Information Network</span></p><p>According to Table 3 above, that means that its share should be in the 15% range if I extrapolate to 2025. Now multiplying the 15% share by total HBMx revenues of $17.61 billion comes to $2.6 billion in HBMx for Micron.</p><p>Table 4 summarizes this analysis.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/6284b233e25f9d4406ec085c66850264\" alt=\"The Information Network\" title=\"The Information Network\" tg-width=\"640\" tg-height=\"181\"/><span>The Information Network</span></p><h2 id=\"id_2402192864\">Competitive Analysis</h2><h3 id=\"id_4164137184\">Micron</h3><p>Micron is benefiting from the expected recovery in traditional memory demand and the rapidly increasing demand for HBM. This positions the company well in both conventional and high-performance memory markets.</p><h3 id=\"id_2709105068\">SK hynix</h3><p>The demand for HBM from Nvidia, a key customer of SK Hynix, is projected to remain robust. Initially, Nvidia's H100 is expected to spur the demand for HBM3E, which will be further propelled by the introduction of the H200 in the second quarter of 2024 and the B100 in the latter half of the year. Specifically, the H100 GPU is anticipated to utilize 80GB of 12-layer HBM3 (24GB), while the H200 and B100 GPUs are expected to employ 144GB (24GBx6) and 288GB (36GBx8) of 8-layer HBM3E, respectively.</p><p>To preserve its market position, SK Hynix is strategizing to concentrate on the 8-layer HBM3E segment, anticipated to be prevalent this year. Although Micron and Samsung Electronics are projected to enhance their market stance in HBM3E by 2025, the overall market for HBM3E is expected to witness accelerated growth. This growth trajectory is attributed to AMD, hyperscalers, and AI startups gradually transitioning from HBM2E and HBM3 to adopting HBM3E. This shift underscores the evolving landscape of the HBM market, highlighting the strategic moves by major players to capture the burgeoning demand for advanced memory solutions in high-performance computing and AI technologies.</p><h3 id=\"id_2204993971\">Samsung</h3><p>Samsung Electronics has taken a significant step ahead in the high-bandwidth memory market by initiating the supply of 12-layer HBM3E (36GB) product samples to its customers, positioning itself several months in advance of its competitors. This move comes even as Samsung continues to finalize qualification testing for its 8-layer HBM3 product. The completion of these tests is anticipated in the second quarter of 2024, with the company expecting to start generating revenue from this product in the second half of the year.</p><p>Looking ahead, the qualification for the 12-layer HBM3E product is likely to be wrapped up in the third quarter of 2024. However, significant revenue contributions from this advanced memory solution are projected to commence in 2025. Samsung's aggressive timeline in rolling out its 12-layer HBM3E samples underscores its commitment to maintaining a leading edge in the competitive memory market, particularly in areas requiring high memory bandwidth such as artificial intelligence, high-performance computing, and advanced graphics processing. This strategy not only demonstrates Samsung's technological prowess but also its strategic foresight in anticipating market needs and positioning itself to meet these demands ahead of others in the industry.</p><p>While the adoption of 12-layer HBM3E technology in AI accelerators is not yet confirmed, there is a strong expectation for robust customer demand for such products in the future. One significant potential application is in Nvidia's X100 series, scheduled for release in 2025, which is anticipated to incorporate 12-layer HBM3E memory. This would offer a substantial maximum capacity ranging from 216GB (36GBx6) to 288GB (36GBx8) per GPU, catering to the increasing memory requirements of AI workloads.</p><p>Moreover, starting from 2025, the demand for 8-layer HBM3E is expected to extend beyond established players like Nvidia to include AMD, hyperscalers, and accelerator start-ups. This broadening demand base is likely to drive significant market expansion and increase market exposure for HBM3E technology. As AI applications continue to evolve and demand for higher-performance computing solutions grows, the adoption of advanced memory solutions like 12-layer HBM3E is expected to play a crucial role in meeting these escalating requirements.</p><h2 id=\"id_3702366204\">Bottom Line</h2><p>I continue to rate Micron a Hold. While the memory market is increasing, I show in Table 3 that its bit growth share is eroding. On the strong growth prospects of HBMx, in 2024, I project Micron's share at just 2.9%. I give Micron the benefit of the doubt that its HBMx share will match its DRAM share, but investors must recognize that competitors are not standing still.</p><p>Sk hynix has demonstrated 12-layer HBMx and Samsung will do so in Q3. Hynix already has a lock on Nvidia's AI chips, and it is only because of limited capacity that Nvidia moved to Micron. Now that SK hynix's Fab 4 is operational and a new HBMx plant is planned for the U.S. state of Indiana.</p><p>One only has to look at Table 1 above, to see that Samsung and SK hynix will outspend Micron on DRAMs.</p><p>Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.</p></body></html>","source":"seekingalpha","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>Micron's Fiscal Q2 2024 Earnings Preview With Eyes On HBMx</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicron's Fiscal Q2 2024 Earnings Preview With Eyes On HBMx\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-19 11:10 GMT+8 <a href=https://seekingalpha.com/article/4678916-microns-fiscal-2q2024-earnings-preview-with-eyes-on-hbmx><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Micron is set to announce its Q2 2024 earnings results on March 20 with focus areas on memory market recovery and increased demand for HBM in AI applications.Micron aims to allocate 30% of sales to ...</p>\n\n<a href=\"https://seekingalpha.com/article/4678916-microns-fiscal-2q2024-earnings-preview-with-eyes-on-hbmx\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4575":"芯片概念","BK4587":"ChatGPT概念","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4566":"资本集团","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","BK4527":"明星科技股","LU0109392836.USD":"富兰克林科技股A","BK4579":"人工智能","BK4588":"碎股","BK4550":"红杉资本持仓","BK4141":"半导体产品","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4503":"景林资产持仓","BK4551":"寇图资本持仓","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","BK4581":"高盛持仓","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","BK4512":"苹果概念","LU0444971666.USD":"天利全球科技基金","MU":"美光科技","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","BK4170":"电脑硬件、储存设备及电脑周边","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4529":"IDC概念","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4592":"伊斯兰概念","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY \"A\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0079474960.USD":"联博美国增长基金A","LU0072462426.USD":"贝莱德全球配置 A2","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0056508442.USD":"贝莱德世界科技基金A2"},"source_url":"https://seekingalpha.com/article/4678916-microns-fiscal-2q2024-earnings-preview-with-eyes-on-hbmx","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2420939402","content_text":"Micron is set to announce its Q2 2024 earnings results on March 20 with focus areas on memory market recovery and increased demand for HBM in AI applications.Micron aims to allocate 30% of sales to capex and 10% to R&D, following industry peers' practices.Micron's HBM3x memory and its volume production are expected to contribute to revenue growth in 2024 and 2025.Micron's share of the HBMx market will reach 2.9% in 2024 growing to 15% in 2025.Roman StarchenkoMicron Technology, Inc. (NASDAQ:MU) announces its Fiscal 2Q2024 earnings call on March 20, 2024. Key areas of focus will be on a recovery in the memory market and increased demand for High Bandwidth Memory (\"HBM\"), particularly aimed at artificial intelligence (\"AI\") applications.MU's guidance for Q2 revenue, given in its Q1 call, is between $5.1B and $5.5B, with the mid-point above the $4.99B estimate. On an adjusted basis, it expects to lose between $0.21 and $0.35 per share.There are several key trends that are expected to influence Micron's performance in this quarter.Memory Pricing and CapexMemory Pricing Trends: The DRAM industry, including leaders like Micron and Samsung Electronics Co., Ltd. (OTCPK:SSNLF), has observed a strategic pullback in memory production capacity investments (capex), as shown in Chart 1.Micron aims to allocate approximately 30% of its sales to capital expenditures and around 10% of its sales to research and development. These allocations are in line with the practices of industry peers.Although a robust demand recovery is anticipated in the second half of 2024, SK hynix is not expected to pursue aggressive capital expenditure (\"capex\") increases this year. Instead, the company's focus seems to be on technology migration rather than expanding production capacity. SK Hynix has outlined a capex plan of W13 trillion for 2024, representing a nearly 50% year-over-year increase but only reaching 70% of the levels seen in 2022-23. The majority of this spending is likely to occur in the latter half of 2024.For Samsung, capex on memory primarily focused on enhancing infrastructure at the Pyeongtaek facility in Korea and expanding production capacity for High Bandwidth Memory (HBM), DDR5, and other advanced nodes. Capex will likely drop to about W49 trillion in 2024.The Information NetworkThis controlled approach to supply has beneficially impacted memory pricing. Additionally, demand for memory replenishment from smartphones and PCs witnessing growth. Chart 1 shows the recovery of DRAM ASPs (average selling prices).The Information NetworkHBM MemoryGenerative AI Impact: The surge in generative AI tools, notably those like ChatGPT, is significantly contributing to the heightened demand for memory. These AI applications require substantial DRAM and storage resources for effective operation.Micron was late to the HBM sector crucial for AI model training and inferencing, which I reported in a June 23, 2023 Seeking Alpha article entitled Micron: Late To The Game AI Strategy And Politics Do Not Make For A Strong Company.Nevertheless, it has made significant strides with the announcement of its advanced second-generation HBM3 memory, which I discussed in a January 1, 2024, Seeking Alpha article entitled Micron: Korean Memory Competitors Are Just Too Formidable, and noted:\"Micron positions its HBM3 Gen2 as a significant advancement, boasting a 50% improvement over base HBM3 chips from competitors Samsung Electronics and SK hynix. Micron's offering also provides 50% more memory density than the HBM3 Gen2, also known as HBM3E, introduced by rivals. The company anticipates a 15% performance boost compared to the 8 GT/second target set for SK hynix's HBM3E memory.\"In a February 26, 2024 press release, Micron announced it has begun volume production of its HBM3E (High Bandwidth Memory 3E) solution. Micron's 24GB 8H HBM3E will be part of NVIDIA Corporation (NVDA) H200 Tensor Core GPUs, which will begin shipping in the second calendar quarter of 2024.Sanjay Mehrotra noted in the company's fiscal Q1 2024 earnings call:\"We are on track to begin our HBM3E volume production ramp in early calendar 2024 and to generate several hundred million dollars of HBM revenue in fiscal 2024. We expect continued HBM revenue growth in 2025, and we continue to expect that our HBM market share will match our overall DRAM bit share sometime in calendar 2025.\"What share of the market is \"several hundred millions of dollars?\" While Micron's fiscal 2024 is one quarter different from a calendar year, for simplicity, using $10.36 billion for CY 2024 and $300 million as \"several hundred millions\", I estimate that Micron will have a 2.9% share of the HBMx market in 2024, as per Table 2.The Information NetworkMehrotra above also estimates that in CY 2025, Micron's HBMx share will match its overall DRAM bit share.The Information NetworkAccording to Table 3 above, that means that its share should be in the 15% range if I extrapolate to 2025. Now multiplying the 15% share by total HBMx revenues of $17.61 billion comes to $2.6 billion in HBMx for Micron.Table 4 summarizes this analysis.The Information NetworkCompetitive AnalysisMicronMicron is benefiting from the expected recovery in traditional memory demand and the rapidly increasing demand for HBM. This positions the company well in both conventional and high-performance memory markets.SK hynixThe demand for HBM from Nvidia, a key customer of SK Hynix, is projected to remain robust. Initially, Nvidia's H100 is expected to spur the demand for HBM3E, which will be further propelled by the introduction of the H200 in the second quarter of 2024 and the B100 in the latter half of the year. Specifically, the H100 GPU is anticipated to utilize 80GB of 12-layer HBM3 (24GB), while the H200 and B100 GPUs are expected to employ 144GB (24GBx6) and 288GB (36GBx8) of 8-layer HBM3E, respectively.To preserve its market position, SK Hynix is strategizing to concentrate on the 8-layer HBM3E segment, anticipated to be prevalent this year. Although Micron and Samsung Electronics are projected to enhance their market stance in HBM3E by 2025, the overall market for HBM3E is expected to witness accelerated growth. This growth trajectory is attributed to AMD, hyperscalers, and AI startups gradually transitioning from HBM2E and HBM3 to adopting HBM3E. This shift underscores the evolving landscape of the HBM market, highlighting the strategic moves by major players to capture the burgeoning demand for advanced memory solutions in high-performance computing and AI technologies.SamsungSamsung Electronics has taken a significant step ahead in the high-bandwidth memory market by initiating the supply of 12-layer HBM3E (36GB) product samples to its customers, positioning itself several months in advance of its competitors. This move comes even as Samsung continues to finalize qualification testing for its 8-layer HBM3 product. The completion of these tests is anticipated in the second quarter of 2024, with the company expecting to start generating revenue from this product in the second half of the year.Looking ahead, the qualification for the 12-layer HBM3E product is likely to be wrapped up in the third quarter of 2024. However, significant revenue contributions from this advanced memory solution are projected to commence in 2025. Samsung's aggressive timeline in rolling out its 12-layer HBM3E samples underscores its commitment to maintaining a leading edge in the competitive memory market, particularly in areas requiring high memory bandwidth such as artificial intelligence, high-performance computing, and advanced graphics processing. This strategy not only demonstrates Samsung's technological prowess but also its strategic foresight in anticipating market needs and positioning itself to meet these demands ahead of others in the industry.While the adoption of 12-layer HBM3E technology in AI accelerators is not yet confirmed, there is a strong expectation for robust customer demand for such products in the future. One significant potential application is in Nvidia's X100 series, scheduled for release in 2025, which is anticipated to incorporate 12-layer HBM3E memory. This would offer a substantial maximum capacity ranging from 216GB (36GBx6) to 288GB (36GBx8) per GPU, catering to the increasing memory requirements of AI workloads.Moreover, starting from 2025, the demand for 8-layer HBM3E is expected to extend beyond established players like Nvidia to include AMD, hyperscalers, and accelerator start-ups. This broadening demand base is likely to drive significant market expansion and increase market exposure for HBM3E technology. As AI applications continue to evolve and demand for higher-performance computing solutions grows, the adoption of advanced memory solutions like 12-layer HBM3E is expected to play a crucial role in meeting these escalating requirements.Bottom LineI continue to rate Micron a Hold. While the memory market is increasing, I show in Table 3 that its bit growth share is eroding. On the strong growth prospects of HBMx, in 2024, I project Micron's share at just 2.9%. I give Micron the benefit of the doubt that its HBMx share will match its DRAM share, but investors must recognize that competitors are not standing still.Sk hynix has demonstrated 12-layer HBMx and Samsung will do so in Q3. Hynix already has a lock on Nvidia's AI chips, and it is only because of limited capacity that Nvidia moved to Micron. Now that SK hynix's Fab 4 is operational and a new HBMx plant is planned for the U.S. state of Indiana.One only has to look at Table 1 above, to see that Samsung and SK hynix will outspend Micron on DRAMs.Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[],"lives":[]}